5 teams named Phase Two FLOWIN prize winners The U.S. Department of Energy (DOE) last week announced the winners of Phase Two of the FLoating Offshore Wind ReadINess (FLOWIN) Prize. Competing teams began with a proven floating offshore wind energy
OSG set to be acquired by Saltchuk Shares in NYSE-listed U.S.-flag tanker and ATB operator Overseas Shipholding Group Inc. (OSG) were trading up this morning on news that it has entered into a definitive merger agreement that will see
Inmarsat launches new NexusWave connectivity service Inmarsat Maritime has launched NexusWave, a new service, underpinned by a "bonded" multi-dimensional network to delivers high-speed connectivity, unlimited data, global coverage, and a "secure by design" infrastructure. Delivered by a single
VIDEO: Dali refloated and relocated The Key Bridge Response Unified Command reports that salvors refloated and moved the M/V Dali at approximately 7 a.m., this morning. Video streamed by local media showed the Dali refloated, under tow
Port of Gothenburg digitalizes ship arrival process to reduce CO2 emissions Port of Gothenburg proceeds with the digitalization of the vessel arrival process, introducing a new platform, called Digital Port Call", which is now part of the port's maritime infrastructure, providing fresh conditions for a faster, safer, more efficient, and sustainable ship call process. Sweden's major port is the largest in Scandinavia, handling approximately 6,000 ship calls annually. At e
Valenciaport increases box volumes in April Valenciaport's terminals have confirmed in April that the Spanish export sector is in a reactivation phase. After a period of stagnation and decline, the Valencian terminals are returning to positive signs and increases in cargo traffic. The major Spanish port handled 461,246 TEUs in April, translating to a 13.51% growth compared with the same month last year. In general, an analysis of the figur
Tanker stalls after being hit by Houthi missile An oil tanker temporarily lost propulsion after it was hit by a Houthi missile on 18 May. The US Central Command said that at 1 am Yemen time, Iranian-backed Houthis launched one anti-ship ballistic missile (ASBM) into the Red Sea and struck the 2003-built 105,400 dwt Wind, an Aframax oil tanker. According to the Central Command, Wind most recently docked in Russia and was bound for China. Centra
New hybrid straddle carriers to boost APMT Barcelona handling operations Maersk-owned port and terminal operator APM Terminals Barcelona announced the commissioning of 17 Konecranes NSC 644 EHY hybrid straddle carriers. These models use up to 32.5% less fuel than even today's most modern cranes and will reduce the terminal's annual CO2 emissions by 50 tonnes, according to APM Terminals. Managing Director of APM Terminals Spanish Gateways, Julián Fernández, highlighted
Port of Riga develops container repair services Port of Riga has seen its container sector becoming the largest cargo group of the port after the decline in the handling of energy transit cargo (coal and oil products). Container throughput has been growing in parallel with the increase in container-related services, noted the Latvian port, which saw SIA "Rigas Centralais Terminals" (RCT), a member of the JSC "Riga Port" group, to develop the p
Irving Shipbuilding selects GEODIS for logistics services for ship construction and repair projects As part of Halifax-based Irving Shipbuilding Inc.'s (ISI) participation in Canada's National Shipbuilding Program, a contract to provide inbound logistics services for ship construction and repair projects has been awarded to global logistics company GEODIS. The contract, which will be managed by GEODIS' Project Logistics' team in Canada, with support from the company's global network of offices,
First methanol-powered vessel now on North Europe weekly service On 18 May, a new feeder service started calling regularly at the Port of Gothenburg in Sweden with the world's first container ship powered by green methanol, Laura Maersk, operating the service sailing between the Port of Gothenburg and Bremerhaven, Germany. "Already today, many of the customers importing and exporting via Gothenburg have chosen lower-emission ocean transport enabled by green fu
NWSA sees increased box volumes in April The Northwest Seaport Alliance (NWSA), a partnership of the ports of Seattle and Tacoma, has moved 958,069 TEUs since the start of the year, translating to a year-on-year 5% increase. Additionally, NWSA reported 258,688 TEUs in April, achieving an 11.3% growth compared with the same month last year. Full international exports continued an eight-month growth streak, increasing 15.6% over April 202
MACS, HUGO STINNES to operate under their own brand in Spain MACS Maritime Carrier Shipping GmbH & Co, Hamburg/Germany and HUGO STINNES Schiffahrt, Rostock/Germany (HSS), both owned by VINETA GmbH of Hamburg, Germany, will operate jointly under their own agency brand in Spain as from 15 May. Under the name of Stinnes & MACS Agencia Marítima and based in Bilbao, this agency, in cooperation with former Hugo Stinnes-representative NOATUM MARITIME Spain S.A.U.
Sea Consortium fined US$40,000 for violating Bangladesh flag rules Singapore-based feeder vessel operator X-Press Feeders/Sea Consortium Pte Ltd has paid Tk 4.78 million (around US$41,000) as a fine for violating the Bangladesh Flag Vessels (Protection) Act 2019. After the payment, the authorities released one of the operator's container vessels, namely X-PRESS LHOTSE, which was detained for two days at the outer anchorage of Chittagong port with 1,600 TEU boxes
CMA CGM's financial figures down in first quarter French container carrier CMA CGM recorded revenue of US$11.8 billion in the first quarter of 2024, translating to a 7% decline, and earnings before interest, depreciation and amortization (EBITDA) of US$2.4 billion, representing a 30.3% decrease compared with 2023 Q1 results. Additionally, the company's EBITDA margin came in at 20.2%, down 6.8 points. Moreover, CMA CGM saw its net income fall fro
Saltchuk Resources to take over Overseas Shipholding Group Privately owned Saltchuk Resources has agreed to take over the New York-listed operator of Jones Act tankers and oil tug barges, Overseas Shipholding Group (OSG). The deal gives OSG an aggregate equity value of about $653m and a total transaction value of $950m. Saltchuk will acquire all outstanding shares of OSG it does not already ...
Mitsui puts money into Navigare Capital Partners shipping fund Japanese trading house Mitsui & Co is investing an undisclosed sum in a shipping fund managed by Denmark's Navigare Capital Partners. The Tokyo-based company will, together with its subsidiary Mitsui & Co. Alternative Investments, put money into Navigare Capital's third maritime investment fund, targeting $650m in capital and focusing on a diverse range of sustainable ...
Inmarsat unveils its response to Elon Musk's Starlink Facing unprecedented business challenges from the likes of Elon Musk's Starlink and a raft of low-Earth-orbit (LEO) satellite providers such as OneWeb, Inmarsat Maritime has today made its response known. Inmarsat, the dominant satellite communications provider to the shipping industry this century, today unveiled NexusWave, a network offering high-speed connectivity, unlimited data and global co
Middlesbrough port seals 10-year deal with Prysmian Italian offshore cable maker Prysmian has inked a contract with AV Dawson, owner and operator of Port of Middlesbrough, to continue their long-term partnership for another 10 years. Prysmian first started using the port ten years ago, with little more than a container or two of equipment being held in storage. As the company secured ...
Dali to be refloated today as manager urges for crew to be allowed to leave vessel The refloat and transit of the stricken Dali containership from its current location to a terminal in Baltimore is slated for Monday morning. Optimum conditions call for the transit of the 9,962 teu ship to commence at high tide, predicted to be at 5:24 am. The entire refloat sequence, including deballasting, started yesterday. Once free ...
China's Agricore buys capes One of China's most active owners, Agricore, is again on the move, buying and selling ships. It is hovering in the market for ships built around 2010 while selling its smaller assets. The outfit trusts the cape segment, being linked to its fourth cape in five months while selling two smaller ships in the same ...
Pirates attack tanker off Cape Verde A Turkey-flagged product tanker was boarded and robbed southwest of Nova Sintra, Cape Verde early on Friday morning in a significant escalation in terms of the way pirates treat seafarers off West Africa. According to British maritime security consultants Ambrey, the tanker was boarded by 10 suspects armed with AK-47s. The suspects reportedly damaged communication ...
Crew die as 1988-built ship sinks in the Black Sea Three Syrian crewmembers are thought to have died when their 36-year-old ship collided with another ship and sank along the Ukrainian grain corridor bordering Romania early on Saturday morning. The Tanzanian-flagged, 1988-built Mohammed Z sank, after what looks like a collision with the slightly larger Turkish-owned 5,444 dwt Michel, a vessel that now has noticeable ...
Horizon Tankers orders MRs at Zhoushan Changhong Greece's Horizon Tankers is set to expand its MR fleet with up to six newbuilds in China. The Anthony Comninos-led owner has contracted four 50,000 dwt chemical/product carriers at Zhoushan Changhong International Shipyard, with deliveries starting in the second half of 2026. The yard has revealed no price, but shipbuilding sources suggest $45m and upwards ...
AW Shipping back at Jiangnan for more gas carriers AW Shipping, a joint venture of ADNOC Logistics & Services (ADNOC L&S) and China's Wanhua Chemical Group, has returned to Jiangnan Shipyard for up to four very large ammonia carriers. Brokers report the jv contracting two firm 93,000 cu m gas carriers that will follow five 86,000 cu m vessels already delivered from the Chinese ...
Houthis strike tanker carrying Russian oil to China On Saturday, the Houthis struck a shadow tanker with a history of hauling Venezuelan and Russian oil. None of the 23 Filipino crew was injured when the 21-year-old vessel was hit. US Central Command said a single anti-ship missile hit the Panamanian-flagged and Greek-owned tanker, at around 1 am local time, causing flooding that knocked ...
Is contributing to a just and equitable transition that leaves no state behind an empty slogan? Dr Peter Nuttall, the scientific and technical advisor to the Micronesian Center for Sustainable Transport, discusses disbursement of revenues generated by IMO's emission reduction measures. The International Maritime Organization's 2023 Revised Strategy for reduction of emissions from ships includes provisions which direct a just and equitable transition. Under the agreed timelines, IMO member s
LA's Seroka not worried over fresh tariffs on Chinese goods Port of Los Angeles chief executive Gene Seroka believes the new tariffs announced by the White House are limited and...
With sale of OSG, privatisation of Jones Act shipping is near complete There were 10 listed ship operators in the Jones Act trades in the 2000s. Assuming the sale of Overseas Shipholding...
Taxing shipping emissions will raise a lot of cash. How should it be spent? Recycling the money within the industry will not be enough for states, while a trading scheme would worsen inequity, a...
Saltchuk and OSG agree $950m takeover deal Privately owned Saltchuk Resources and US-flag owner Overseas Shipholding Group have entered into a definitive merger agreement valued at $950m...
UK shipping industry blasts port emissions report Port operators and associations have slammed the report, questioning its methodology and value for shipping. There is criticism of the...
Week in charts: Tanker freight rates strengthen | Large rise in empty equipment teu/miles | CMA CGM back in black Rising tonne mile demand growth is propping up spot rates, longer sailing distances mean that carriers are transporting empties further...
The week in newbuildings: Bulk carriers abound During a relatively quiet week for new orders, China's New Dayang Shipbuilding wins five ultramax bulkers from Egyptian and Japanese...
'Going green and getting real': Greek shipping minister looks to strike a balance Shipping minister Christos Stylianides has been in office less than a year but is well qualified to make progress on...
Grimaldi sees potential in Greek ports Red Sea rerouting may have dented transhipment traffic at the port of Piraeus, but the prospects for Greek ports are...
Large rise in empty equipment teu/miles Equipment shortages are emerging but there are few signs of lockdown-era disruption
Skuld continues financial turnaround Hansen hails 'historically strong result' and unveils cashback for members
Houthis attack Greek tanker in Red Sea, crew unhurt The 2003-built Wind was sailing from Russia to China when it was hit
Three still missing after cargoship sinks off Romania Eight of the 11 crew were rescued by Romanian authorities and commercial vessels, but three Syrian seafarers are still missing...
China and Russia to team up on Arctic shipping Arctic trade was included in a joint statement during during Vladimir Putin's visit to Beijing. There is now an argument...
Updated: Dali refloated in Baltimore The refloating was expected to take more than 21 hours and began early with Monday's high tide
Former Cosco leasing head Liu Chong expelled from CPC in corruption probe Several senior Chinese shipping figures have been caught up in a nationwide anti-corruption drive in recent years
Daily Briefing Better placed than ever? Greek shipowners leading from the front | Seeing is believing as Greek shipyards find saviours |...
SC Ports plans full reopening of gates at 5 am Tuesday after 'software issue' No cargo pickups or drop-offs took place at Charleston's marine terminals and the two inland ports on Monday as SC Ports scrambled to resolve the problem.
'Software issue' closes Charleston, inland ports to truckers: SC Ports Few details are known about the extent of the software problem and whether it impacts only the truck gates or all operations inside the terminals such as ship-to-shore cranes, yard hostler vehicles and container stacks.
SC Ports closed to truckers on Monday Drivers will not be able to go into the Port of Charleston or inland ports today.
Top 100 Importer/Exporter Rankings: Biggest shippers rise in down year The Journal of Commerce's annual Top 100 Importers and Exporters rankings show that the largest shippers in 2023 took a larger share of the inbound and outbound markets in a weak year for overall volumes.
Quarterly sales slip for major high and heavy ro/ro manufacturers Deere and Caterpillar are facing a lackluster year as equipment sales soften amid lower commodity prices and market uncertainty.
UK logistics trio acquire supply chain software business The fast-evolving supply chain technology market prompted the global forwarders to take over Forward Computers, which will be run under a joint venture as an independent business.
Tufton bulker collides with tanker in busy Argentine river Damage to both vessels reported after incident near Rosario
Tsakos Energy said to sell aframax in fleet renewal bid amid rebounding prices If confirmed, sale would be the 12th since the start of 2023
Biomethane volumes for LNG-fuelled shipping set to soar by 2030 But suppliers poised to cash in and charge premium for LNG fuel as infrastructure tightens
Scorpio Tankers seals $223.6m debt repayment that slashes breakeven rates Gambit is seen as a key step in increasing cash flows, returning capital to shareholders
Diversification play: Saltchuk's OSG buy adds new sector to growing shipping empire Addition of tanker fleet brings something new to growing conglomerate
Red Sea crisis sees first-quarter booking values rise for Freightos Nasdaq-listed container booking portal remains on course to achieve 2024 guidance
Crew on Baltimore bridge crash ship hope to go home after refloating and return to port Ship manager Synergy Marine Group says crew has been given counselling, food and phones
Clarksons threatened with fine of up to $2m from market probe Derivatives brokerage could be liable for fines after review by regulator found 'lack of supervision'
Navigare gets cash injection from Mitsui & Co as third fund targets $650m war chest Japanese trader wants to add to Danish venture's $2bn in assets
EBE sells sole capesize bulker at tidy profit to focus on smaller vessels Basile Aloy-led company capitalises on rise in capesize values
Russia-trading tankers head back to oil transfer hotspot as Greek naval exercises end Tracking data shows seven ships have returned to oil transshipment area
Saltchuk strikes $950m takeover deal for US tanker owner OSG Jones Act specialist agrees to cash takeover five months after offer was first made
London's $15.7bn marine insurance market faces growing competition from international rivals London remains global hub with Nordics growing faster and Asia set to benefit from changing picture
AK-47-toting gang boards product tanker, robbing cash and locking up crew Security companies say cash and assets were robbed before gunmen left
'Arms-for-oil': Shipowner targeted over North Korea deal UK also blacklists Russian bunkering company over alleged oil shipments to pariah state
CJC beefs up Singapore office with Squire Patton Boggs' Chua Aik Hui UK-based law firm follows up last week's appointment of Ed Harris with another hire
Cido Shipping fixes newbuilding quartet to MSC in rising container ship market Bareboat charters emerge as market for larger boxships continues upward momentum
Shipbroker sizes up vast VLCC armada keeping sanctioned Iranian oil flowing Shipbroker says increased sanctions may not have much effect on trade
Founding Cadji family takes control of $2bn shipowner Union Maritime after lifting stake Filing shows 50/50 split-ownership model has changed
Windtech firm Norsepower boss Tuomas Riski steps down Heikki Pontynen takes role of chief executive
Evergreen Marine scraps post-panamax boxship as buying interest for older vessels tapers off Ever Uranus is one of three container ships reported sold for scrap over past week
Frontline tanker loads first Niger cargo as controversial pipeline opens The suezmax Front Cascade leaves Benin after completion of new pipeline from landlocked country
'I'm doing it for the money': George Economou opens up on his activist shipping investments Greek magnate says there's nothing personal in his attacks on public shipowners
Seapeak begins to price in cost of EU Emissions Trading System First-quarter profit slides largely on back of ship sales as company weeds out older vessels
Sanctioned Sovcomflot suezmax heads to Singapore as others wait A successful voyage for the SCF Primorye could encourage state shipowner to load more vessels
Greek tanker suffers fire after being hit by Houthi missile Steering gear damaged but vessel was able to continue under its own power
Mozambique LNG carrier delivery slots formally pushed into 2028 and 2029 Seventeen berths for orders originally placed in 2020 roll on
Stricken container vessel to be pulled clear of broken Baltimore bridge to open key shipping lanes Removal of the boxship will clear the way for full reopening of shipping lanes
Three seafarers missing after Turkish ship sinks in Black Sea Search was launched after the Mohammed Z went down on Saturday
Greek tanker attack may have been 'accident' as former US-linked vessel targeted Ambrey Analytics cites Houthi reports that they had been tracking a different tanker
Nigeria LNG shipping arm enters 'new era' with Capital Gas vessel South Korean shipbuilding giant urged to invest in Nigerian yard
Newbuild prices for larger vessels rising at faster pace than for smaller ones, says Clarksons Situation compounded by ongoing inflationary pressures from higher labour and steel costs
Container freight rates hit highest levels since Covid Two-tier freight market rekindles memories of pandemic-era problems
Pan Ocean raids charter market to bring in 45 bulkers in first quarter South Korea's largest shipowner increases dry bulk fleet to 240 vessels with string of charters
In pictures: Bimco's Soren Larsen bids farewell at VIP bash Bimco stalwart refuses to let injured leg stop the fun at one last party before he heads into retirement
ASL Aviation brings first Boeing 737-800 freighter to Australian unit ASL Aviation is upgrading the fleet at its Australian subsidiary with a modern Boeing 737-800 cargo jet.
Ship that caused Baltimore bridge collapse moved back to port Almost two months after colliding with Baltimore's Francis Scott Key Bridge, the MV Dali was hauled away from the site Monday.
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.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
