Shanghai Electric takes delivery of Ulstein-designed SOV duo On Friday, 16 August, Shanghai Electric celebrated naming and delivery of two service operation vessels (SOVs) at ZPMC, Qidong base, China. Based on two different ship designs from Ulstein Design & Solutions
NETSCo moves ahead with innovative offshore wind feeder barge U.S.-based naval architecture and marine engineering firm NETSCo (with offices in Ohio and Florida) is finalizing an agreement with an undisclosed shipyard and vessel operator to build and operate Jones Act-compliant feeder
Gebrüder Weiss provides e-commerce solutions for China's iconic Baijiu brands Global logistics firm Gebrüder Weiss is providing a comprehensive suite of e-commerce services to some of China's leading Baijiu brands. Baijiu, a grain-based spirit widely regarded as China's national drink, holds the status of a luxury product and a symbol of prestige. In the Far East, Gebrüder Weiss is catering to this market by offering tailored e-commerce solutions for some of China's most e
DP World and BII to upgrade DRC's Port of Banana with major investment British International Investment (BII), the UK's development finance institution and impact investor, is set to invest up to US$35 million in the initial phase of the Democratic Republic of Congo's (DRC) first deepwater container port, the Port of Banana. This investment extends BII's partnership with global ports and logistics operator DP World, which began with the modernization of ports in Dak
Great Eastern Shipping adopts StormGeo's tool for fleet efficiency Great Eastern Shipping Company Limited (G E Shipping) has successfully integrated StormGeo's advanced technological solutions across its entire fleet. This collaboration aims to enhance the operational efficiency and environmental performance of G E Shipping's vessels by utilizing StormGeo's comprehensive s-Insight solution, which provides tools to optimize the commercial, technical, and environm
Port of Hamburg handles 3.8 million TEUs in the first half of 2024 Container handling at the Port of Hamburg remained stable in the first half of 2024, with 3.8 million TEUs processed, maintaining a consistent trend in both transhipment and continental traffic. The ongoing energy transition is becoming more apparent, especially with the reduction in coal volumes, which has led to a decline in bulk cargo throughput. During this period, the German port managed a t
APM Terminals Callao reports 15% import surge In the first half of the year, APM Terminals Callao in Peru experienced a notable increase in the volumes of a diverse range of products, including wheat, corn, steel coils, and heavy machinery. Since the beginning of the year, 780 vessels have docked at Callao's Multipurpose North Terminal, reflecting the terminal's growing efficiency and capacity to meet rising demand. The 15% increase in vesse
CMA CGM introduces PSS from the Med to North America CMA CGM, the French carrier, has announced a Peak Season Surcharge (PSS02) effective from 15 September 2024 (gate-in date for the US, loading date for Canada and Mexico), until further notice. This surcharge applies to all types of cargo. It will affect shipments originating from all Mediterranean ports, including Malta, France (Fos/Marseille), Italy, Spain (Algeciras, Valencia, Barcelona, Sagunt
Nhava Sheva Port temporarily averts transport strike that threatened rising cargo flows In a big relief for Indian exporters and importers, a three-day work stoppage that container transporters planned to begin today (20 August) at Nhava Sheva Port (JNPT) has been suspended for two weeks, until 9 Sept. The move follows last-minute intervention by the port leadership and other local authorities. Transporters and empty storage yard operators in the harbour had been at loggerheads for
Bahri splashes $1bn on nine Marinakis VLCCs Saudi Arabia's flagship line Bahri has snapped up nine very large crude carriers from Evangelos Marinakis-controlled Capital Maritime & Trading. The company said in a Tadawul filing Tuesday it would be paying about $1bn in total for the scrubber-fitted ships delivering by the end of the first quarter of 2025. The deal will be financed ...
TGS wins OBN contract extension in Gulf of Mexico Oslo-listed seismic data specialist TGS has won an extension of an ocean bottom node (OBN) data acquisition contract in the Gulf of Mexico. TGS, which is set to merge with compatriot offshore seismic acquisition specialist and vessels player PGS, said that the extension to an existing deal was for four months and that it would build ...
MOL becomes top shareholder in FPSO expert Modec Japanese shipping giant Mitsui OSK Lines (MOL) has increased its stake in fellow floating production storage and offloading (FPSO) specialist Modec, becoming its largest shareholder. MOL, which has been focusing on expanding its non-shipping business, including offshore, as part of its "BLUE ACTION 2035" scheme, said the move would make Modec its equity-method affiliate. The ...
Results from US probe into Chinese shipbuilding expected soon Foreign owners are beginning to get anxious into the impending conclusions of the US probe into Chinese shipbuilding, aware that some of the possible recommendations could be highly punitive. The US Trade Representative (USTR) launched an investigation into China's shipbuilding practices this April, with the Biden administration reacting to unions and bipartisan calls to clamp ...
Cadeler seals newbuild financing as it bolsters financial agility Danish offshore wind vessel pure play Cadeler has strengthened its financial capacity by securing improved terms for financing of two newbuilds of about $456m and expanding its revolving credit facility by a year, alongside doubling its uncommitted guarantee lines to €200m to capitalise on market opportunities. The BW Group and Scorpio-backed shipowner has replaced the ...
Exmar awarded contract for BP's US Gulf deepwater project Belgium's Exmar has secured work on BP's recently greenlighted Kaskida deepwater development in the US Gulf of Mexico. The Nicolas Saverys-controlled group, best known as a gas shipowner and offshore infrastructure provider, has won a contract to design and engineer the hull for a new floating production unit (FPU), which will be built by Singapore ...
Indonesian owners cash in on investments in the tanker sector This quarter has been a busy period for Indonesia's largest tanker owners, seeking sizeable profits from tankers purchased years ago. The latest sale coming out of Indonesia is a ship sold by Buana Lintas Lautan (BULL), with brokers telling Splash that BULL has offloaded a 20-year-old aframax, selling the 115,000 dwt Salamander for $27m, almost ...
US awards first floating offshore wind research lease to Maine The US Department of Interior has issued the nation's first floating offshore wind research lease to the state of Maine. The lease area covers around 60 sq km and is located some 50 km offshore Maine on the U.S. Outer Continental Shelf and could allow for the deployment of up to 12 floating offshore wind ...
LNG shipping index hits record high LNG shipping stocks saw significant gains last week, with the UP World LNG Shipping Index (UPI) reaching an all-time high, driven by positive sentiment in global markets and the onset of winter preparations. "The performance suggests a robust outlook for the LNG shipping sector, bolstered by increased demand for electricity in regions like South Asia," ...
Landlocked Malawi to lease terminal in Mozambique Landlocked Malawi will be able to shift goods via a neighbour to its east. The African nation is set to lease a terminal at the port of Nacala in the north of Mozambique. Mozambique is also looking to help out other landlocked neighbours. Splash reported last month Botswana, which boasts the third largest coal reserves ...
Progress to get Dali boxship back into service New images of this year's most infamous ship have emerged. The Dali containership, which slammed into a bridge in Baltimore on March 26, has finally had all its cargo removed and will likely head overseas soon for repairs. The ship arrived at Norfolk International Terminal on the US east coast on August 11, sporting debris ...
Freightos buys Shipsta Online box booking platform Freightos has acquired Luxembourg-based Shipsta, a freight-tender procurement platform used by enterprises to procure freight at scale from freight forwarders and carriers. This transaction expands NASDAQ-listed Freightos' existing spot pricing, quoting, and booking capabilities by adding tender procurement. "The acquisition of Shipsta is a strategic milestone for Frei
New York judge dismisses Economou suit against Performance Shipping Shipowner George Economou was the target of multiple shareholder suits in the 2010s when he was chairman of DryShips. Now...
Odfjell reports record earnings in second quarter Oslo-listed owner Odfjell reported a record second quarter, underpinned by its 'robust COA portfolio and excellent operational performance', according to...
Bluepool welcomes six more bulkers New entrants include Singapore-based and Greek owners
Maersk U-turns on hazardous waste voyage Environmental groups alerted authorities in Albania as well as Thailand, where the cargo was headed, that the boxes were thought...
Pace of container spot rate decline is key variable in liner profit equation All eyes are on the rate of change in spot container freight rates. How the pace of this decline evolves...
Enough bio-gas to ensure FuelEU compliance for dual-fuel LNG fleet, Gasum says The Finnish supplier is in talks with shipping companies to provide FuelEU pooling services, as vessels bunkering with bio-LNG may...
Lack of standards holding back sail power A Lloyd's Register report said the lack of standard criteria for validating fuel saving claims from wind-assisted propulsion systems is...
Philippines government raises questions of oil smuggling in recent spills The managers of one vessel involved in the spill denied any involvement in a smuggling operation and said it was...
Bahri acquires nine VLCCs from Marinakis in $1bn deal amid fleet renewal push Saudi Arabia's national shipowner Bahri has made another step towards renewing its fleet with a $1bn acquisition of nine VLCC...
Navios Partners stacks orderbook for LR2 tankers Second-quarter earnings beat projections, but represent slight dip from corresponding quarter last year
Seafarer welfare gains importance as competition for crew increases Cultural differences, family issues, isolation, poor ship design, piracy and now the threat of missile attacks are common concerns for...
Lloyd's-backed Maritime Mutual revealed as insurer of Iran-linked tanker Ceres I Lloyd's of London's involvement in underwriting risk arising from the casualty remains undisclosed, with Maritime Mutual declining to respond to...
Chief executive in sudden departure at Royal Institution of Naval Architects Move comes after string of heavy losses at maritime charity
Marsh launches port blockage insurance facility in wake of Baltimore Unexpected shutdowns are increasing in frequency and severity, with debilitating consequences for international trade, argues Nevill
Maersk Mc-Kinney Moller Centre chief technology officer dies at 51 The Centre said Graugaard was a 'pivotal leader' and was respected for his 'relentless drive to advance the maritime sector's...
MOL retrofits capesize bulker with rotor sails The vessel is expected to achieve about 6%-10% fuel and emissions reductions on Brazil-Asi routes
Gearbulk boosts forest product carrier newbuilding orderbook The addition of two further 'pulpmax' newbuildings brings the total number of ships in this 82,300 dwt series ordered by...
NYK secures charter deal for its first methanol dual-fuel bulk carrier The newbuilding is designed to be primarily powered by bio-methanol and e-methanol
Daily Briefing How have shipping stocks fared in aftermath of summer sell-off? | IMO carbon price plans show gulf between states on...
Wah Kwong breaking into new tanker market with four-strong newbuilding deal Hong Kong shipowner mulls fresh order in China
This ratio is key to Navios Partners' strategy for its $2bn debt pile Angeliki Frangou says company is 'gliding' toward loan-to-value ratio target, allowing it to spend cash on other things
Navios scoops four LR2 tanker newbuilding options in $264m deal Newly disclosed purchases highlight $566m sale-and-purchase activity in second quarter
Royal Fleet Auxiliary officers plan second strike as MOD fails to make offer Industrial action to take place on Merchant Navy Day on 3 September
Hanwha Ocean clarifies that six Arc7 LNG newbuildings remain at yard Tracking data misleads and construction work continues on specialist vessels originally ordered for Russian business
VLCCs in product tanker trades? Its more likely than you think, according to one shipbroker Steem1960 Shipbrokers has never seen this many crude tankers moving petroleum products
Ocean Yield hires banks for new five-year senior unsecured bond issue Owner has engaged Arctic Securities, Danske Bank, DNB Markets, Nordea and SEB
Navios Maritime Partners beats forecasts as second quarter profit slips Angeliki Frangou-led company sees lower tanker and container ship rates dent bottom line
Campbell Shipping secures a healthy price for elderly handysize bulker Bahamas-based owner has sold an older, China-built unit
Alpina Chartering suffers blow as Tomini pulls bulkers from fleet Dubai-based owner plans to commercial manage its vessels in-house from now on
Fearnleys bullish on International Seaways as it shrugs off earnings miss New York tanker owner expected to benefit from a strengthening winter market
Campbell Shipping secures a healthy rate for elderly handysize bulker Bahamas-based owner has sold an older, China-built unit
MOL installs Norsepower rotor sails on Vale capesize bulker Technology expected to help generate at least 6% energy savings on Brazil to Asia route
Vallianz looks to cement presence in Thailand's OSV market with new joint venture Company has eyes on potential $28bn in spending on offshore industries in Asian nation over next four years
Evangelos Marinakis strikes $1bn deal with Bahri to sell nine-strong VLCC fleet Transaction advances Bahri fleet modernisation plans
Ocean Yield targets further growth in LNG after striking 'landmark' deal CEO says 'very attractive terms' for financing being offered by banks
Oil leaking from grounded bulker as storms continue to batter wreck Bad weather continues to hamper salvage work as volunteers drafted in to help cleanup beaches
Osaka Gas plans move into LNG bunkering business from 2026 Utility joins SEA-LNG as it builds out a new global coalition to produce e-methane
Marine engine maker Accelleron joins digital consolidation drive with acquisition of weather routing firm Digitalisation makes it easier for tech firms to track emissions and fuel consumption
VLCC player Prima Marine buoyed by storage demand and surging tanker rates Expansion of offshore activities also helping to diversify risk away from any one sector, says shipowner
Viking Supply Ships transformation rolls on after shedding government contract Kistefos-controlled anchor-handling tug supply vessel owner in the black in second quarter
Baltimore bridge disaster sparks new product innovation at major insurer Insurance broker says policy is an industry first and follows closure of Baltimore Port after bridge collapse
Marsh to offer port disruption cover in wake of Baltimore bridge disaster Insurance broker says policy is an industry first and follows closure of Baltimore Port after bridge collapse
Eastern Pacific Shipping orders four rare large gas carrier newbuildings The company is said to be paying in the mid-$80m range for each 60,000-cbm gas carrier
Vallianz looks to cement presence in Thailand's OSV market with new joint venture Company has eyes on potential $28bn spending on offshore industries in Asian nation over next four years
In pictures: Singapore shipbrokers out in force to celebrate success ICS Singapore awards shine spotlight on emerging maritime talent and industry leaders
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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