Thyssenkrupp and Carlyle in talks U.S. global investment firm Carlyle is evaluating cooperating with German industrial giant Thyssenkrupp AG on the planned separation of its marine business, Thyssenkrupp Marine Systems, whose Kiel site is Germany's largest shipyard.
35 Somali pirates to be brought to India and prosecuted The Times of India reports an Indian Navy officer as saying that 35 Somali pirates who, back in December, hijacked a Maltese-flagged bulker, the Ruen, to use as a mother ship will
BOEM moves ahead on new GoM offshore wind lease sale Despite the tepid response to its first Gulf of Mexico offshore wind lease auction, the U.S. Department of the Interior today announced its proposal for a second GoM offshore wind lease sale
Logistics for Manufacturing And Metal Fabrication In the dynamic environment of manufacturing and metal fabrication today, the efficiency of logistics is paramount for the uninterrupted and successful execution of operations. This wide-ranging domain covers everything from managing the supply chain and transport to overseeing inventory and storage solutions. Facing distinct obstacles, such as the transportation of large and weighty items, securi
Transport sector to make up half of Europe's emissions in 2030 According to a recent analysis by Transport & Environment (T&E), transportation alone is projected to account for nearly half of Europe's greenhouse gas (GHG) emissions by 2030. Since 1990, European transport emissions have surged by over 25%, contrasting with a declining trend in emissions across other sectors. T&E's assessment highlights the urgency for Europe to address its transportation emis
Japan's Mitsui E&S to equip Bangladeshi deep-sea port Mitsui E&S Japan has secured a job for the design, manufacture, supply and installation of container handling equipment, terminal operation system, and security system at Bangladesh's maiden under-construction deep-sea port at Matarbari in Chittagong. The country's cabinet committee on government purchase at a meeting on 20 March, presided over by Finance Minister Abul Hasan Mahmood Ali, approved
SC Ports to expand North Charleston terminal with WestRock site purchase Backed by state support and receiving unanimous approval from the Board of Directors, South Carolina Ports (SC Ports) intends to acquire the former WestRock paper mill site in North Charleston to enhance the capacity of the Port of Charleston. The SC Ports Board of Directors voted to proceed with a purchase sales agreement with WestRock, with the transaction anticipated to conclude promptly. "The
Middle East line opens intra-Asia loop to link western India ports Oman-based Asyad Line is set to launch a container service connecting the Far East and West India, according to information collected from industry sources. To be marketed as the Far East Express One (FEX1), the service has been designed with stops in China, Vietnam, Thailand and Malaysia, in addition to India. On the Indian leg, the string will have three ports of call: Hazira, Mundra and Nhava
Port of Gothenburg teams up with Hitachi Energy and Skanska for hydrogen project Over the past few weeks, emission-free excavation operations have been underway in one of the Port of Gothenburg's most extensive infrastructure ventures to date. This has been facilitated by a groundbreaking hydrogen generator featuring innovative technology, which is currently being tested in the project. This generator is designed to be both scalable and portable, offering a convenient plug-an
Setting the Stage for Romance- How to Surprise Your Partner with a Stacked Monitor Setup Every couple has once imagined themselves on the couch streaming their favorite rom-com marathon on a stacked monitor setup. There is a different movie on each screen. This benefit lets you share laughs and swoons moments without compromising your viewing preferences. It sounds pretty dreamy, right? Well, that's not a dream anymore. Geminos stacked monitors are here to give you a perfect movie ni
NWSA handles 226,600 TEUs in February The Northwest Seaport Alliance (NWSA), a shipping alliance between the ports of Tacoma and Seattle in the United States, reported that February container volumes reached 226,603 TEUs, translating to a marginal growth of 0.4% over the same month last year. Year-to-date volume comparisons declined 0.2% YTD to 437,887 TEUs, with full imports increasing slightly and full exports growing 14.2%, accord
Major lines' margins in negative territory for first time after five years Mainline operators' operating profit margins fell into negative territory for the first time since 2018, due to losses in 4Q 2023, according to Alphaliner's report. On average, these operators' operating margins stood at -3% in the last three months of 2023, as the Covid-19-fuelled boom ended its run. Six out of the nine largest box lines reported operating losses for the last quarter of 2023. On
Ocean rates keep sliding, but some rebound for air: Freightos analysis In the latest development in the Red Sea crisis, Houthis recently announced threats to expand their attacks to Indian Ocean traffic, aimed at disrupting vessel flows already diverting away from the Red Sea toward the Cape of Good Hope. In the meantime, with most container traffic already avoiding the Suez Canal, demand easing, and operations stabilizing, ocean rates continued to decrease across t
Pharmatrade unveils state-of-the-art logistics center in KEZAD The opening of Pharmatrade's Abu Dhabi Logistics Centre, in collaboration with Khalifa Economic Zones Abu Dhabi (KEZAD) Group, marks a significant milestone in expanding its operations. With a focus on enhancing storage and distribution capabilities for its Pharmaceutical and Medical Device products, Pharmatrade aims to cater to the healthcare sector's needs in the UAE. Driven by its continuous g
NWSA launches offshore wind supply chain study The Northwest Seaport Alliance (NWSA) is embarking on a feasibility study aimed at assessing potential business prospects within the offshore wind supply chain. The objective is to aid the NWSA in positioning itself as a key player in supporting the growing offshore wind (OSW) supply chain market. "With attention and recent funding from the State Legislature, now is the perfect time to evaluate p
ONE enhances China Thailand Philippines service Ocean Network Express (ONE) announced the addition of Subic Bay port to the rotation of China Thailand Philippines service (CTP). The vessel Marina One is set to commence this updated service, with an estimated arrival at Subic Bay on 26 March. The new port rotation will be Laem Chabang, Thailand > Manila, Philippines > Subic Bay, Philippines > Qingdao, China > Busan, South Korea > Shanghai, Chin
Associated British Ports and MPA Singapore explore green transport collaboration opportunities Associated British Ports (ABP) hosted a delegation from the Maritime and Port Authority of Singapore (MPA) at the Port of Southampton, led by MPA chief executive Teo Eng Dih on Friday 17 March. During the visit, discussions were held on various aspects of potential collaboration related to sustainable maritime transport within the framework of the UK-Singapore Green Economy Framework (UKSGEF). "I
4 Common Pallet Racking Safety Hazards Pallet racking is a vital commercial environment storage solution meant to store pallets safely, allowing easy access to the items kept on the racking while maximizing the use of limited space. However, working around pallet racking systems comes with several hazards, risking employee and product safety. Unsafe pallet racks can cause crushing injuries due to falling items or instability/ collapse
Standard Supply offloads last PSV at second attempt Oslo-listed PSV investment outfit Standard Supply has managed to offload its last ship after its first sale fell through. The Øystein Stray Spetalen-controlled company has agreed the sale of the 2007-built large PSV Standard Supplier. The 5,100 dwt platform supplier was part of a $72.2m three-ship deal struck with Evangelos Marinakis-backed Capital Offshore in November, ...
JERA's Parkwind and IKEA stores owner Ingka win Norway's first offshore wind tender Ventyr Energy, a consortium made up of Parkwind, owned by Japan's largest utility JERA, and IKEA store owner Ingka, has won the first Norwegian auction to develop a 1.5 GW offshore wind farm in the Southern Norwegian North Sea. Five groups qualified to take part in the Sørlige Nordsjø II bottom-fixed offshore wind auction in ...
BW Group sells $178m worth of shares in Hafnia Singapore's BW Group has sold 5.1% of its shareholding in Oslo-listed Hafnia to back the product tanker giant's dual listing scheme. The sale included 26m out of some 246m shares (48.23% stake) BW held in Hafnia, priced at NOK73. Hafnia said in a filing that the purpose of the sale was to enhance the trading ...
SFL buys LR2 newbuild trio, fixes them out on long-term charters John Fredriksen's SFL Corporation has bought three new LR2 product tankers for a total purchase price of around $230m and arranged long-term charters for the vessels. The vessels, bought from affiliates of the company's largest shareholder Hemen Holding, are currently under construction in China. SFL said that the purchase price was in line with valuations ...
zero44 launches calculator for FuelEU Maritime regulation costs CO2 management specialist zero44 has released a new tool that will help shipping companies understand the financial impact of the planned FuelEU Maritime regulation. Most shipping companies are currently working on becoming EU ETS compliant, but the FuelEU Maritime legislation which should further decarbonise shipping is already around the corner. Aimed at kick-starting the large-scale ...
Stena Bulk forms new tanker operation partnership Swedish shipowner Stena Bulk has today announced it has entered into a partnership with an investment firm for the operation of an undisclosed number of the company's existing IMOIIMAX tankers. The partnership with the investment firm, only described as a "prominent Gulf Cooperation Council investment institution", will enable it to become 50% owners of part ...
Peter Döhle swoops on Marinakis boxships Germany's Peter Döhle Schiffahrts has been named as the buyer of three containerships from Capital Product Partners as the US-listed outfit backed by Evangelos Marinakis works towards becoming an LNG carrier pure-play. S&P databases suggest the Hamburg-based boxship and bulker owner and operator has snapped up the 9,954 teu Athos, Aristomenis and Athenian for $51m ...
Eight dead in chemical tanker capsize incident off Japan At least eight crew members were killed after a South Korean-flagged chemical tanker anchored off the coast of Japan capsized. The 11-strong crew of the 1996-built tanker requested assistance around 7:05 am local time on Wednesday, reporting that the vessel was tilting. The Japanese coast guard sent boats and aircraft to assist the capsized vessel ...
Liner CFOs faced with 'one of the most unpredictable years in recent times' Chief financial officers at global liners have had severe difficulties in providing financial forecasts in the 2020s to date, with early annual forecasts often proving to be out by billions of dollars. Like the pandemic earlier on, the Red Sea shipping crisis is this year's great unknown for liner fortunes leading to massively divergent earnings ...
Wood venture secures long-term contract with Shell Wood's joint venture company, Massy Wood, has secured a five-year framework agreement with Shell for the delivery of engineering projects and asset support in Trinidad and Tobago. Under the agreement, the jv will work on Shell's offshore and onshore assets, including turnaround support for their mature brownfield assets and supporting new greenfield projects. Steve Nicol, ...
Reach Subsea extends vessel charter and orders two ROVs Norwegian offshore services player Reach Subsea has extended the charter deal for the multipurpose offshore vessel and ordered two new ROVs from Kystdesign. The Olympic Subsea-owned vessel started a project for Reach Subsea under a 100-day deal in January this year. The deal included extension options for a total of four years. The company stated ...
Pioneer Tanker seals first newbuilds Pioneer Tanker, one of five subsidiaries of Singapore's Pioneer Logistics, is expanding its fleet with a newbuilding debut in China. The company has commissioned Fujian Southeast Shipyard to build eight 18,500 dwt chemical tankers costing about $33m each. The vessels are expected for delivery in 2026 and to meet the requirements of Tier II emission ...
Aspiravi increases Northwind offshore wind farm stake to 70% Belgian offshore wind developer Aspiravi Offshore has increased its stake in the Northwind offshore wind farm to 70% following the acquisition of Parkwind's part of the project. After the sale of Parkwind to Japan's JERA in 2023 for $1.7bn, Aspiravi Offshore - the main shareholder of Northwind with a 40% stake - exercised its pre-emption ...
Scorpio Tankers sells product tanker duo for $72m Monaco-headquartered Scorpio Tankers has entered into agreements to sell two 2013-built MR product tankers to an undisclosed customer. Scorpio Tankers said that it would be selling the 49,990 dwt tankers STI Larvotto and STI Le Rocher for $36.15 million per vessel. Following the sale of the two vessels, the New York-listed firm will have a ...
Sinokor pockets $3m from swift cape play In a rare asset play for Sinokor Merchant Marine, the Korean company has pocketed a swift $3m from a cape it picked up last November. Sinokor bought the 2009-built, 170,000 dwt Genco Commodus four months ago from Genco for $19.5m. The ship was delivered in January and changed name to Enco Ommodus. It has now ...
Study finds ports are not ready to handle onboard captured carbon dioxide A recent study commissioned by the Global Centre for Maritime Decarbonisation (GCMD), in collaboration with Lloyd's Register and Arup, has identified low port readiness as a major hurdle bottlenecking the adoption of onboard carbon capture and storage (OCCS) systems as a practicable decarbonisation solution. Whilst the technologies required for offloading onboard captured CO2 exist at ...
Carlyle Group in discussions to enter German shipyard sector The German shipyard sector could be in for a shake-up with American private equity giant Carlyle Group opening discussions to buy into thyssenkrupp's marine business in a deal valued at $1.6bn with due diligence under way. At the same time, talks are being held with the German government on the state's participation in thyssenkrupp's marine ...
Fleet supply and trade growth get the balance right for dry bulk Owners are drawing strong encouragement for the near-term prospects of the freight markets and are right to do so, says Plamen Natzkoff from Maritime Strategies International. In its latest, Q1 2024 forecast, Maritime Strategies International (MSI) forecasts a positive year for trade growth in the dry bulk sector, supported by signs of a broad-based improvement ...
Geneva Dry Dialogues: Teqplay In anticipation of the inaugural Geneva Dry event taking place on May 2, where digital solutions providing actionable insights take the spotlight, Léon Gommans, CEO and co-founder of Teqplay, delves into the pressing needs of clients in the dry bulk sector and the significance of ROI in technology investments. Gommans paints a vivid picture of ...
Euronav sells old VLCCs, orders new ammonia-ready ships Euronav says recent deals underscore its commitment to growth and the establishment of a benchmark in sustainable shipping
Capital Product clinches sale of three more boxships Latest disposals will reduce partnership's boxship fleet to eight units
Vehicle Carrier Safety Forum publishes safe loading guidelines Checklist designed to reduce risk when used in conjunction with existing procedures
Bahamas warns IMO of dark fleet 'time bomb' The Bahamas issued a lengthy warning to IMO of the environmental risks of the dark fleet, while India raised concerns...
World Shipping Council launches campaign against wildlife trafficking Issue poses significant threat to biodiversity, local and national economies, and national security, boxship trade association warns
Red Sea rerouting hits east Mediterranean transhipment hubs The closure of the Red Sea route to the Mediterranean has seen larger vessels skip the region; this in turn...
Containership charter rates show signs of stabilisation "It is unclear at this stage if rate stabilisation is a simple plateau or the beginning of a reaction to...
IMO dismisses industry call to come clean on CII failings IMO members states yesterday shot down a motion by the Bahamas, Liberia and industry groups to tell the wider world...
Braemar numbers flatline as tanker shop bounces back from delisting Firm hails 'strong performance' as revenue and underlying operating profit fall slightly
Euronav exits Belgium's Bel 20 index as share price plummets The final closure of CMB's Euronav takeover this week breached Euronext rules on ownership exceeding the 85% threshold. That means...
Hub port performance critical to Gemini success The Gemini Cooperation is reducing the number of points of failure in the network; but to achieve reliability, each of...
Danish authority probes dark fleet tanker collision en route to Russia Danish Maritime Authority states that the Panama-flagged Andromeda Star was involved in the incident, while investigation is underway
Eight seafarers dead, two missing as chemical tanker capsizes off western Japan Japan's coast guard confirms deaths of eight seafarers, with two crew missing, as the 1,168 dwt Keoyoung Sun capsizes off Mutsure Island near...
Dry bulker party lacks conviction without China tailwinds The drop in commodity prices seems to suggest slowing demand. Data also shows China's steel exports and coal imports have...
Houthi-hit bulker True Confidence opts for sanctioned salvor after it is refused refuge in Djibouti In a repeat of the Rubymar incident, where salvors refused to engage due to security concerns, owners of the stricken...
Small trucking firms handling more freight, slowing capacity drain: survey A Truckstop.com survey of more than 2,000 US motor carriers found those fleets drove an additional 3,000 miles in 2023 and handled more loads, staying on the road and slowing an expected decline in available capacity.
SC Ports lands deal seeks to make North Charleston ready for bigger ships The purchase of an industrial site next to the terminal is part of Charleston's plan to allow the facility to handle container ships that are double the size of the vessels it can currently accommodate.
APM enhances partnership for ultra-large container terminal at Haiphong port The terminal operator said it hatched a new agreement with a Vietnamese logistics company that increases its involvement in developing an ultra-large container terminal in the country's northern region.
India-US carriers lower spot rates for end-March sailings to push bookings As the market softens, carriers have jettisoned previously announced rate activity for March, with Mediterranean Shipping Co. canceling a $1,000-per-container general rate increase and CMA CGM again postponing a peak season surcharge.
Russian petrochemical exports under threat after mass attacks on refineries Drone strikes are part of Ukraine's strategy to cripple production
Capital Product confirms biggest sale yet in container shipping exit Divestment campaign nearly halfway done amid new focus on LNG and the 'wider gas business'
Scorpio's Robert Bugbee speaks out on dividend prospects after $72m sales windfall Scorpio Tankers has net debt target in sight, but what does its president say about returning capital?
Carsten Mortensen-led Dee4 Capital raises $92m for second fund J Lauritzen and S41 buy stakes in new fund and management company
Shipping investor Dee4 Capital raises $92m for second fund J Lauritzen and S41 buys stakes in new fund and management company
India to prosecute 35 Somali pirate suspects captured during Ruen rescue Navy official says detainees will arrive in India on Saturday
Skyrocketing LR2 tanker rates could force owners to look at smaller ships The largest product tanker owners continue to make big gains
Armona waves farewell to 'beloved' tanker as Petrogas boosts product fleet Istanbul-based owner confirms sale of 2009-built vessel for Canary Islands business
€50bn Nordic high yield bond market attracts international investors as it reaches beyond shipping and oil Pareto Securities sees 'strong sentiment' and high activity in the market
Andreas Sohmen-Pao's BW Group sells Hafnia shares for $178m as it sets for US listing Sohmen-Pao's BW now holds 43% of product tanker owner
Eight seafarers killed and two missing after tanker capsizes off Japan Search operation continuing after South Korean vessel overturns in storm
Capesize rate correction arrives with big mining companies absent Spot rates continued to cool on Wednesday and a selloff rolled on in the futures market too
Container carrier operating margins worst in five years prior to Red Sea crisis Several lines were headed for financial trouble before Houthi attacks turned markets around
Commodities trader Hartree Partners strikes six-vessel deal to rebuild tanker fleet after VLCC exit US commodities firm has made first major shipping deal since 2022
John Fredriksen sells LR2 tanker newbuildings to SFL for $230m Tycoon's leaseback company enters into deal with his private shipowning interests for Chinese trio
SFL buys John Frediksen's LR2 tanker newbuildings for $230m as it seals term charters Tycoon's leaseback company enters into deal with his private shipowning interests for Chinese trio
Peter Dohle Schiffahrts accelerates push into roaring capesize market German shipowner better known for boxships is building a presence in the big bulker sector
Cargo ship flees port in Haiti after being hit by volley of bullets Shipowners have halted calls amid chaos in Caribbean country
Broker Braemar hikes shareholder payout after 'strong' annual performance UK group also reports big rise in forward orderbook for current year
Seven seafarers killed and two missing after tanker capsizes off Japan Search operation continuing after South Korean vessel overturns in storm
Tufton brokers deal to bring in Middle East investor as co-owner of Stena Bulk tankers Swedish company says agreement for IMOIIMAX ships will expand market reach
Bulker reports suspicious approach by suspected pirates off Oman Ladders spotted on small boat with seven people on board
Shadow fleet tanker collision probed by Danish Maritime Authority Incident involving the Andromeda Star took place earlier this month
Suspected pirates approach bulker off Oman Ladders spotted on small boat with seven people on board
Harry Vafias spin-off C3is raises $6m in face of Nasdaq delisting threat Deal created 120m new shares and caused penny stock to plunge further
Scorpio Tankers sells two MRs after previous sale rumours fell flat US owner makes deal totalling $72m
Star Bulk linked to fresh deal amid Greek supramax sale fest US-listed owner has raised about $350m from 19 sales on the secondhand market over the past 12 months
Oil majors Chevron and ExxonMobil securing VLCC and suezmax tonnage Big oil players continue tying large crude carriers on long-term employment
Broker Braemar hikes shareholder pay-out after 'strong' annual performance UK group also reports big rise in forward order book for current year
Three seafarers missing after tanker capsizes off Japan Eight other crew members rescued after South Korean vessel started taking on water
Out-of-control container ship crashes into three cranes Video footage shows large vessel toppling the huge structures at Kocaeli port in Turkey
BW Group to sell up to $190m in Hafnia shares to boost trading ahead of US dual listing Sohmen-Pao remains committed to being the leading long-term shareholder
Shipowner shortlist emerges for TotalEnergies LNG bunker vessel newbuilding Five names remain in running to build next-up unit as major extends its fuelling reach
Singapore's JUB flies under the radar to build 18-strong liftboat fleet Company looks to extend its global reach with latest acquisition with Africa high on its target list
Are yards still storing keels that allow shipowners to follow old pollution rules? Regulators seek to close nitrogen oxides loophole as Norway and Canada propose extending emissions control areas
Petronas and YPF invite offers for early design work on Argentina's FLNG unit Partners get ball rolling on planned floating LNG producers
Air cargo market rides an incoming wave, but can it last? The air cargo logistics sector is enjoying good volume growth so far this year, but it remains to be seen if the new momentum can be sustained.
Hapag-Lloyd CEO predicts early peak season for ocean shipping Will shippers pull forward freight to avoid East Coast port labor disputes?
DOT confirms boost in West Coast container imports The Biden administration is getting a clearer picture of freight flow changes with new data from inland intermodal hubs.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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