Rem Offshore orders innovative Energy Subsea Construction Vessel (ESCV) There's a growing interest in subsea vessels able to work in both the oil and gas and offshore wind sectors and now Norway's Rem Offshore and Myklebust Verft have signed a contract
Crowley wins $16 million MSC contract for Stena Polaris The Navy's Military Sealift Command has awarded Crowley Government Services Inc., Jacksonville, Fla., a $16,014,532 one-yesr option under a previously awarded contract for the operation of the ice class tanker Stena Polaris.
Evergreen's Ever Top is first neopanamax to get CCS retrofit CCS retrofitting continues to pick up pace. ClassNK has granted its "SCCS-Full" 1 class notation to the Evergreen neopanamax Ever Top. The notation signifies that the vessel is now equipped with an
Amogy technology picked to power ePSV Brooklyn, N.Y., headquartered ammonia-to-power specialist Amogy has signed a contract that will see its technology power an electric platform supply vessel (ePSV). The contract has been reached with Stavanger, Norway, based Green
ClassNK certifies world's first onboard CCS installation on Evergreen's Neopanamax container ship ClassNK has granted its Shipboard Carbon dioxide Capture and Storage-Full (SCCS-Full) class notation to the Panama-flagged boxship Ever Top, a Neopanamax container vessel owned by Taiwan's ocean carrier Evergreen. The notation signifies that the vessel is now equipped with an onboard CO2 capture and storage (CCS) systems, marking it as the world's first Neopanamax container vessel to be retrofitt
China's container trade faces hold-offs due to supply-demand imbalance Container xChange has released its latest China market update, shedding light on the current container price trends in China. Despite expectations of price drops post-Chinese New Year, the market is witnessing a significant mismatch between buyer and seller price expectations, in a demand deficit environment. According to Christian Roeloffs, cofounder and CEO of Container xChange, "There is a sig
RightShip unveils Zero Harm Innovation Partners Program RightShip, a global environmental, social, and governance (ESG) focussed digital maritime platform, has announced the launch of Zero Harm Innovation Partners Program, an initiative focussed on driving collaboration between ship owners, managers, and technology providers to achieve a zero harm maritime industry. The program aims to support the development and adoption of technologies dedicated to
Kale Logistics Solutions appoints new global Chief HR Officer Kale Logistics Solutions, a global vertical Software as a service (SaaS) company, has selected Zulekha as its new global Chief Human Resources Officer (CHRO), tasked with cultivating and empowering the expanding team across ten countries. With a career spanning over 17 years in HR, Zulekha boasts a diverse background across various industries such as logistics and education technology, manufactur
COSCO container ship damages Keelung berth after collision A pier in Taiwan's Keelung port sustained damage after one of COSCO Shipping Lines' container ships came into contact while attempting to berth. The 2000-built, 1,702 TEU Fei Yun He had just arrived from the port of Lianyungang in China, shortly before 8 am local time on 16 March. Local media reported that possibly due to miscommunication between the pilot/crew and the port authority, Fei Yun He
Sea-Intelligence sees 2023 profitability close to pre-pandemic levels In 2023, all ocean carriers saw sharp year-on-year declines in their revenues, ranging between 46.6% and 62.6%, according to the latest Sea-Intelligence report. The Danish maritime data analysis firm noted that the annualised revenue growth rate in 2023 is in line with 2018-2019, which suggests that the sharp Y/Y revenue decline in 2023 is an artefact of the abnormal revenue growth of 2021-2022,
Valencia sees container volume increase in start of 2024 Valenciaport has experienced a growth of nearly 10% in the first two months of 2024, compared with the same period in 2023, reaching 784,095 TEUs. This increase encompassed both full containers, up by 7.17%, and empty containers, which saw a substantial rise of 20.31%. In terms of weight, the volume of goods passing through Valencian terminals during January and February reached 12,208,814 millio
ICTSI-owned Contecon Guayaquil installs Terminal Tracker into RTG fleet ICTSI's Contecon Guayaquil SA (CGSA) has implemented the terminal tracker supplied by Austria-based RFID and wireless sensor network provider Identec Solutions. The tracker is expected to provide increased visibility and real-time awareness of yard activities as it has the capability to deliver accurate stow positions, container weights, and other important information to the Terminal Operating S
Portchain hits milestone: 100 Terminals join its network Portchain, a major provider of berth alignment and planning software for container terminals and carriers, has achieved a significant milestone by including the 100th terminal in the Portchain Connect Network. "These 100 terminals represent just over 20% of the world's global container capacity. We will continue to work tirelessly to create value for the terminal and carrier network, and we want
OOCL experiences financial downturn despite modest box volume growth Orient Overseas International Limited (OOIL), the owner of Hong Kong-based ocean carrier Orient Overseas Container Line (OOCL), announced its financial and operating results for the last year. In 2023, the company reported revenues of US$8.34 billion, earnings before interest, taxes, depreciation and amortization (EBITDA) of US$2.26 billion, earnings before interest and taxes (EBIT) of US$1.41 bi
NWSA's Terminal 5 in final stages of commissioning The second phase of the modernization project at the Northwest Seaport Alliance's (NWSA's) Terminal 5 is currently in the final stages of commissioning. NWSA, the shipping alliance of the ports of Seattle and Tacoma in the United States, said they, along with their partners, are looking forward to the full operation of both berths at the terminal upon completion of the commissioning process. "Con
MSC enhances Germany - US connections with updated Transatlantic service MSC has decided to adjust the port rotation of its Ecuador - NWC & Scanbaltic - USA service. This change includes the addition of a direct call at Hamburg port in Germany during the service's westbound journey, establishing a new weekly transatlantic connection between Hamburg and the East Coast of the United States. "This addition aims to bolster connections between Germany and the US, showcasin
Almost all crew perish as chemical tanker capsizes off Japan A 1,168 dwt chemical/products tanker, Keoyoung Sun, capsized in strong winds off Shimonoseki on Japan's southwestern coast on 20 March, leaving 10 of its 11 crewmen dead or missing. The crew had sent a distress call around 7 am local time after the 1996-built tanker began listing, said the Japan Coast Guard. A patrol vessel and a helicopter rushed to the scene and retrieved nine of the crewmen. T
Pilbara Ports nears 53 million tonnes in February In February 2024, Pilbara Ports handled a total monthly throughput of 52.7 million tonnes (Mt), marking a 4% decline compared to the same month in 2023. Port of Port Hedland accounted for 39.5Mt of this throughput, with 38.8Mt attributed to iron ore exports. Overall, there was minimal variance in total throughput compared to February 2023. Imports through this port amounted to 157,000 tonnes, sho
Maersk relaunches Transpacific service Maersk aims to improve its Asia - US East Coast service network by restarting the TP20 service. As of mid-April, the Danish shipping company will start operating the TP20 with direct coverage of the Greater China Area from North to South into Newark, Baltimore and Houston. As a standalone service, the TP20 will be offering a stable weekly departure and competitive transit times, noted the carrier
Guidance for Selecting the Ideal Study Abroad Program in 2024: 7 Helpful Tips https://www.pexels.com/photo/glad-diverse-students-taking-notes-while-working-on-project-5966011/ Choosing the correct study abroad program in 2024 can be thrilling yet daunting. With countless options available globally, finding a program that aligns with your academic goals, personal growth objectives, and adventure spirit is essential. Here are seven tips for selecting the perfect study abroad
DP World, Goodyear collaborate on tree planting initiative DP World has announced the successful planting of 702 trees as part of an ongoing initiative to reduce carbon emissions, in collaboration with the tyre manufacturing giant Goodyear. The "Off the Road" project was launched in January 2023 to counteract CO2 emissions by planting two trees for every tyre purchased by DP World Southampton from Goodyear. Over the past year, these trees have been plant
Resurrected New Jiangzhou Shipbuilding makes European comeback Reborn Chinese yard New Jiangzhou Shipbuilding has clinched its first foreign newbuilding order since relaunching last year. The yard, formerly known as Jiangzhou Union Shipbuilding, is returning to the European chemical tanker market in a deal with inland-focused Dutch owner Mercurius Shipping for four duplex stainless steel ships. The order for the 135-m-long vessels, classed ...
CMA CGM teams with Saudi liner newcomer French liner giant CMA CGM has partnered up with recently established Saudi feeder and short-sea operator Folk Maritime to expand its service in the North Red Sea. A new weekly service called North Red Sea Express (NRX) will link the Saudi ports of Jeddah, Neom, and Yanbu to the ports of Sokhna in Egypt and ...
Fire on Perenco platform off Gabon leaves five dead and one missing An incident on Perenco's Becuna platform offshore Gabon has resulted in five worker fatalities with one worker still missing. An incident involving fire occurred at the Becuna platform on Wednesday, March 20, at approximately 3:25 pm local time. The area has since then been secured, the fire has been extinguished, the site secured, and all ...
Your chance to pilot this boat toward toyshop shelves Espen Andersen, who is a pilot in Kalundborg, Denmark, happily admits to geeking out with Lego in his spare time. He has found a way to combine two of his great passions, and the result is a Lego model of the pilot boat he sails for DanPilot, which is headquartered in Svendborg, Denmark. To share ...
Rem Offshore orders methanol dual-fuel subsea construction vessel Norwegian offshore vessel player Rem Offshore has contracted a methanol dual-fuel subsea construction vessel at compatriot yard Myklebust Verft. The Åge Remøy-led operator of 19 OSVs said the newbuild, delivering in 2026 would be the first of its kind that can perform heavy construction work in both offshore wind and subsea with net zero emissions. ...
Marco Polo Marine lands CTV deal with Siemens Gamesa Singapore offshore vessel owner and operator Marco Polo Marine has, through its Taiwanese business PKR Offshore (PKRO), struck a deal with turbine maker Siemens Gamesa for the provision of crew transfer vessels in Taiwan and Korea. The long-term agreement, effective from 2024 to 2026 and with an option to extend to 2030, enables Siemens Gamesa ...
J. Lauritzen takes stake in Dee4 Capital Danish maritime investment company J. Lauritzen has picked up a minority stake in fellow private equity firm Dee4 Capital Partners. The Kristian Mørch-led company has taken a 10.1% ownership in the Carsten Mortensen-led outfit, following the first closing of its second fund Dee4 Capital Fund II with commitments of $92m. A total of 18 external investors ...
No LNG carrier has transited the Suez Canal for 65 days No LNG carrier has passed through the Suez Canal for more than two months, according to new data published from the United Nations Conference on Trade and Development (UNCTAD). The last LNG ship to make its way through the Egyptian waterway was on January 16 since when the deteriorating security situation in the Red Sea ...
Atlas Maritime joins the rush for large ammonia carriers Greece's Atlas Maritime has been identified as the owner behind a shipbuilding contract for three very large ammonia carriers in South Korea. Shipbuilding sources said the Leon Patitsas-led company had booked a 91,000 cu m trio at HD Hyundai Heavy Industries in Ulsan, delivering by December 2027. The vessels, that lift Atlas' orderbook to nearly ...
Somali pirates make contact with owner of hijacked bulker Somali pirates who hijacked the Bangladeshi-flagged bulk carrier last week have made their first contact with the vessel's owner, SR Shipping, with maritime security personnel warning of the likelihood of further attacks off the Horn of Africa. No ransom demands have been made yet for the 23 crew abducted on March 12. A spokesperson for ...
Shell sells out of US offshore wind venture Shell has sold its 50% stake in SouthCoast Wind Energy, established to develop wind projects off the coast of Massachusetts, to joint venture partner Ocean Winds. SouthCoast Wind is developing a proposed offshore wind farm about 30 miles south of Martha's Vineyard and 23 miles south of Nantucket with an approximate capacity of 2.4 GW. ...
Purus emerges as buyer of Edda Wind SOV UK-based Purus has emerged as the buyer of service operation vessel (SOV) Oslo-listed offshore wind vessel pure play Edda Wind sold earlier this year. The Julian Proctor-led diversified owner has acquired the Edda Passat for an undisclosed sum, adding the 2018-built unit renamed Purus Horizon to its growing fleet of offshore wind support vessels. Purus, ...
Chart Industries and GasLog partner on liquid hydrogen ships Gas equipment manufacturer Chart Industries and shipowner GasLog have announced they will work together to develop a commercial scale liquid hydrogen (LH2) supply chain leveraging GasLog's latest developments of a liquid hydrogen vessel and Chart's experience in cryogenics and large-scale liquefaction solutions for the global distribution of LH2. This collaboration aims to support GasLog's partic
World Shipping Council leads fight to combat illegal wildlife trafficking Wildlife crime continues to pose a significant threat to biodiversity, local and national economies, as well as national and international security. The illicit trafficking of wildlife not only endangers countless species but also undermines the stability of ecosystems and jeopardises the livelihoods of communities worldwide. Recognising the severity of this issue, 10 organisations have joined ...
Euronav sells VLCC trio, orders three vessels from Chinese shipyard Belgian tanker giant Euronav has sold three of its very large crude carriers (VLCCs) and ordered two newcastlemaxes and an additional VLCC. The three sold VLCCs are the 2008-built 307,284 dwt Nectar, the 2009-built 307,208 dwt Newton, and the 2008-built 307,284 dwt Noble. The company said the sale would generate a capital gain of $83.5m. ...
World's highest court to deliberate whether states must tackle climate impacts from international shipping beyond the IMO While the Marine Environment Protection Committee (MEPC) meeting is still ongoing at the London headquarters of the International Maritime Organization (IMO), the world's highest court has been asked to deliberate on the United Nations body's powers to govern green matters. Environmental NGO Opportunity Green has submitted a written statement to the International Court of Justice ...
All carbon pricing options still on the table at MEPC The IMO is sketching a framework for how to agree on mid-term measures and has not ruled out any proposals...
'Coverage creep' and softening rates hitting cargo underwriters 'If I were a client, I'd always prefer a grey area to an exclusion. A client can't lose in that...
Euroseas aims for 25% reduction in fuel consumption after retrofit of largest boxship US-listed containership owner aims to cut carbon footprint through retrofits, in addition to a series of newbuildings rolling out of...
More old boxships change hands for further service Turkish boxship operator Medkon Lines has purchased a pair of regional feeders, while MSC has bought a brace of 23-year-old...
Developing nations still affected by supply chain disruptions Some countries are more reliant on maritime trade than others. For the least developed ones, it is a lifeline that...
Antigua and Barbuda fresh flag of choice for Russia-calling dark fleet tankers Intensifying regulatory scrutiny and sanctions enforcement from Western regulators is seeing those tankers linked to US-incorporated Marshall Islands and Liberia...
Shipping's energy transition is lagging, says BRS The International Energy Agency's net-zero scenario has come under fire in recent weeks, notably from oil producers who argue that...
Revived New Jiangzhou Shipbuilding wins first foreign order Move comes as more idled China-based shipyards are being resurrected to take advantage of recovering newbuilding markets
Crude oil tanker values march on market optimism Buyers need deeper pockets to acquire elusive modern sales candidates, says Gibson principal analyst
Rerouting eases container overcapacity concerns Cargo demand is set to rise at a slower pace than capacity deliveries; however, extended voyages will help delay the...
Yard capacity control crucial to sustaining newbuild price surge Although newbuilding orders are slowing, ship prices continue to soar to highest levels since the industry's previous supercycle in 2008
China launches Ship Energy Efficiency Centre in Shanghai The centre will oversee all China-flagged vessels above 400 gt, aiding compliance with international emissions regulation
Daily Briefing Red Sea rerouting hits east Mediterranean transhipment hubs | Houthi-hit bulker True Confidence opts for sanctioned salvor after it is...
US House passes 'OSRA 2.0' to set new curbs on China's shipping industry The legislation is an attempt to give federal maritime law more teeth to go after what its backers see as market manipulation and potential espionage from China.
Echo Global Logistics expands in Mexico as cross-border business grows The Chicago-based third-party logistics provider said demand from US shippers is drawing it and its competitors deeper into the cross-border freight market.
Maersk resumes trans-Pacific service amid early '24 import growth The carrier said the restored TP20 service will offer "competitive"' transit times just as shippers need to ensure products are in stock for spring and summer.
OOCL posts 2023 net profit, although slashed significantly in 'normalizing' market The carrier gave a highly uncertain outlook for the industry, outlining a litany of potential disruptors for 2024 that include Red Sea vessel diversions, high interest rates and geopolitical tensions.
DB Schenker profitable 2023 shows it's still the jewel in Deutsche Bahn crown The global forwarder is up for sale, and its high level of profitability during an otherwise challenging year for logistics could improve a selling price that analysts have already said could top $20 billion.
Uber Freight expands drop-and-hook program with emphasis on utilization Demand for drop-and-hook capacity is prompting freight broker Uber Freight to invest in more markets for its Powerloop program, which marries GPS tracking of trailers to available shipper loads.
French frigate repels Houthi missile salvo targeting boxship in Red Sea (Video) EU vessel was 'closely protecting' container vessel from Houthi attack
Lomar rakes in $132m from long-term product tanker charters Greek firm recoups the money it spent to acquire group of ships from Carl Buttner more than a year ago
Angela Chao intoxicated at time of fatal car accident per police report Foremost Group leader had just left gathering of friends at family ranch in Texas
French war ship repels ballistic missile salvo in Red Sea EU vessel was 'closely protecting' commercial ships from presumed Houthi attack
Podcast: Alexander Saverys' ammonia mission doesn't mean running on green fuels all of the time Euronav and CMB chief executive discusses outlook for carbon-free fuel in shipping
Armed guards on Adnoc tanker in firefight with skiff off the coast of Yemen Incident reported south of Nishtun in the International Recommended Transit Corridor
Russia and China cut Red Sea 'security deal' with Houthis Several ships continue to broadcast pleas to Yemeni militants to leave them alone
Swedish Club books 'balanced' result and big improvement to free reserves Last year was a better time for the marine insurer
OOIL signals end to the good times as profits nosedive Hong Kong-based OOCL's parent fears Red Sea uncertainty and slow economic recovery
Giddy kamsarmax price shows why 'it's like 2007 again' Shipowner pay top dollar for bulker built at Sanoyas Shipbuilding 13 years ago
Don't blame Maxim: Picking the bones of Harry Vafias' plans for C3is This week's Streetwise looks at how the spin-off of a spin-off has kept the torch burning on dilutive deals with a new bank
'Step into the future': Rem Offshore orders methanol-powered construction vessel Owner says vessel will be able to work on both conventional jobs and offshore wind projects
New Fortress Energy's Santa Catarina FSRU takes on first cargo Has company also accepted cooldown volumes for its FLNG project storage vessel?
Quest for zero-carbon shipping fuels needs to be taken as seriously as Covid, says BRS chairman Francois Cadiou believes a worldwide initiative is required for shipping's fuel of the future
Shipowner names emerge for QatarEnergy's Phase 2 LNG newbuildings as Q-Max orders climb to 18 Nakilat set to score 35 vessels as Chinese owners join the party
Saverys family's CMB banking $810m as Euronav makes 'significant' dividend decision Pay-out will help deleverage private shipping company, analysts say
Norway's taxman has departing shipowners in his sights Parliament is considering changes that could see shipowners leaving to lower tax burden paying more
Andrianopoulos family firm Cape Shipping mounts $400m tanker comeback with order spree LR1s, aframax product carriers and suezmaxes are all in the mix as Greek container and bulker owner returns to tankers
HFW creates six new partners and legal directors as shipping growth continues Law firm rewards lawyers in London, Paris, Hong Kong and Dubai
Peter Livanos-backed GasLog developing liquid hydrogen ships as Middle East project gains momentum LNG carrier group brings in Chart Industries to work on green supply chain from Oman to Europe
Purus Marine revealed as buyer of Edda Wind SOV Renamed vessel Purus Horizon to be upgraded in second quarter
Who will pick up the tab for a shadow fleet oil spill? It won't be Russia Fresh revelations raise concerns over who will pick up the bill for major spills from sanctions-busting tankers
John Fredriksen's Seatankers banks 'massive' $80m-plus for PSV pair, brokers say Tycoon offloaded modern offshore vessels to Fugro for more than double what he paid in 2018
New and existing marine fuels cost gap could line up by 2035, Wartsila says But shipowners must act if sustainable alternatives are to be scaled up and decarbonisation targets reached
Salvage woes plague ship crippled by deadly Houthi missile strike Two weeks after attack killed multiple crew members, vessel remains under tow, heading to Oman
Oystein Stray Spetalen's Standard Supply sitting on a pile of cash after selling last PSV Norwegian owner has no problem finding another buyer in strong offshore market
Iran threatens more tanker seizures if US 'bullies' seize oil cargoes Naval commander Alireza Tangsiri says country will not be intimidated
Cargo owner arrests Indian-owned bulker as charterer and owners at loggerheads Timber trader says it is not interested in Neha Shipping's dispute with charterer and wants its missing logs back
Norway's taxman has departing shipowners in its sights Parliament is considering changes that could see shipowners leaving to lower tax burden paying more
Euronav sells three VLCCs while ordering ammonia-ready tanker and bulkers Savery's-led company returns to Qingdao Beihai Shipbuilding for one VLCC and two newcastlemax bulk carriers
Ship lessor Yangzijiang Financial redraws risk responsibility roles Singapore-listed company says changes will also see elimination of chief risk officer role
Polaris Shipping pulls sale of final two LR2s as tanker exit stalls Daehan-built product carriers will now not be sold until next year
House lawmakers crack down on Chinese ocean freight data Legislation approved by the House gives the Federal Maritime Commission more power to investigate potential container market manipulation by China.
Amazon concentrates parcel freighters at US air hubs, report says A DePaul University report says Amazon's air logistics unit is increasing efficiency by adopting a hub-and-spoke operating system for its cargo jets and airport locations.
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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