AUDIO: Coast Guard rescues 5 from tug Luther The U.S. Coast Guard has released dramatic audio from an incident Friday in which five people were rescued from the 130-foot commercial tug Luther after it lost steering off the coast of
VIDEO: Elire Infra launches new floating "Smart Hubs" London-based Elire Infra has launched Smart Hubs, which it describes as "the world's first intelligent floating infrastructure to accelerate net zero goals across multiple industries. The modular, multi-purpose and scalable infrastructure solutions
Indian Register of Shipping partners with SeaTech for green tug design and sustainability initiatives The Indian Register of Shipping (IRS) has signed a Memorandum of Understanding with SeaTech Solutions International, a maritime engineering and design company based in Singapore. The agreement underscores a comprehensive global effort to promote sustainable maritime practices, specifically focusing on the design and classification of next-generation green tugs and harbor crafts for worldwide use.
Maersk applies reeefer surcharge from Chile and Peru to Asia Danish ocean carrier Maersk has announced the introduction of a new peak season surcharge (PSS) from Chile and Peru to Asia. The surcharge of US$1,000 per container will be applicable only to reefer cargo and will be effective from 1 November. If you liked this post, please consider donating The post appeared first on Container News .
US MARAD selects ABS to head Maritime Innovation Centre The Office of Environment and Innovation at the United States Maritime Administration (MARAD) has chosen ABS to establish and oversee the US Center for Maritime Innovation (Center) through a five-year cooperative agreement. The Center is designed to facilitate the implementation of clean energy technologies on US vessels, supported by extensive research and development programs as well as trainin
US-China Trade War Escalates Risks in Shipping Industry Amid Geopolitical Uncertainty Recent developments in terms of geopolitical instability collectively paint a complex picture of strategic competition, influencing the stability and decisions of the global shipping industry. Geopolitics and political instability are perceived as a significant risk, with the lowest confidence in addressing them, suggesting that geopolitical factors are a major concern with less controllable outc
Maersk reports preliminary Q3 revenue of US$15.8 billion Based on preliminary unaudited figures, A.P. Moller Maersk reports revenue of US$15.8 billion, underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) of US$4.8 billion and underlying earnings before interest and taxes (EBIT) of US$3.3 billion for the third quarter of 2024. Additionally, Maersk now expects for the full year 2024 underlying EBITDA of US$11 to 11.5 billi
Trailer strike halts box movement in Bangladesh The movement of containers to and from Bangladesh's Chittagong port and depots remained suspended since Monday (21 October) morning as the Prime Mover Trailer workers have enforced strikes. Shippers and off-dock owners say no outbound containers could be taken to the port for shipment due to the strike, while import goods laden boxes or empty boxes could not be brought out from the country's prim
Seaspan orders six new container vessels from Chinese shipyard Seaspan Corporation has placed an order for six eco-friendly container ships with Hudong-Zhonghua Shipbuilding, part of China State Shipbuilding Corporation (CSSC). The company announced the commissioning of six new vessels, each with a capacity of 13,600 TEUs, designed by the Chinese shipyard. The ships are expected to incorporate numerous green technologies and modern design principles. Additio
Maersk increases PSS from Asia to Saudi Arabia Copenhagen-based box line Maersk will increase the following peak season surcharge (PSS) for shipments from various Asian ports to Saudi Arabia. The updated surcharge levels will be effective from 1 November for all the origin ports, except Vietnam, where the PSS will launch on 2 November, and Taiwan, where the surcharge will take effect on 17 November. Origin Destination Rate basis Container Cur
ICTSI's TecPlata handles first carbon-neutral container in Argentina TecPlata achieved a new milestone by handling the first carbon-neutral container in Argentina, marking a significant step forward in the company's commitment to sustainability. Through the collaboration with Petrocuyo, LOGIN, and Carbon+, ICTSI-operated TecPlata has implemented practices that prioritize environmental responsibility while ensuring operational efficiency. As the first Argentine por
Los Angeles port records busiest quarter in its history The Port of Los Angeles (POLA) handled a record-breaking 954,706 TEUs in September, marking a 27% increase from the same month of the previous year. At the same time, the Californian port recorded its busiest quarter (July-September 2024) in its history with 2,854,904 TEUs. By the end of September 2024, the major US container port has seen an 18% increase in traffic compared to the same period in
MSC takes over majority stake in Wilson Sons The world's largest shipping company MSC has acquired a majority stake in Wilson Sons for R$4.352 billion (around US$765 million) from Ocean Wilsons, via its subsidiary Shipping Agencies Services (SAS). In particular, MSC will now have a 56.47% interest in the Brazilian port and maritime logistics operator Wilson Sons. The transaction is expected to be completed during the second half of 2025 and
Houthis execute drone assault on Maersk-chartered vessel A Maersk-chartered container ship has been reportedly attacked by Houthis in the Arabian Sea, as the Iran-backed Yemeni rebel group continues targeting vessels in response to the Gaza War. Houthi spokesperson Yahya Saree said that several drones assaulted the 2013-built, 4,957 TEU Megalopolis, which Maersk has been chartering from Greece-based shipping company Costamare since 2018. Yahya noted: "
Tanker catches fire in Singapore waters The Maritime and Port Authority of Singapore (MPA) was alerted on 21 October at 10:30 am (local time) of an engine room fire onboard a Malta-flagged tanker, Med Atlantic, in the East Johor Strait, within Singapore waters. The vessel is currently anchored, according to the statement, while an MPA patrol craft, two Police Coast Guard craft, three Singapore Civil Defence Force marine firefighting an
Premier Alliance discloses updates to its network Premier Alliance, including HMM, Ocean Network Express (ONE) and Yang Ming, which will commence operations in February after the exit of Hapag-Lloyd from THE Alliance, has announced changes in its network. On the Transpacific (West Coast) trade, the PN3 will be split into two loops, PN3 and PN4 whilst there will be a new MD5 service between the Mediterranean and the Far East, according to DynaLin
MSC's MEDLOG partners with PDC to develop new cold storage facility at King Abdullah Port Port Development Company (PDC), owner and master developer of King Abdullah Port, and MSC's logistics arm MEDLOG have launched a strategic collaboration with King Abdullah Port to establish a state-of-the-art cold storage facility. The project will entail an investment of 300 million Saudi Riyals (US$80 million) and will cover an expansive 60,000 square meters. The new facility is expected to sig
Vancouver Fraser Port Authority appoints new Vice President of Operations and Supply Chain The Vancouver Fraser Port Authority announced that Captain Shri Madiwal has been appointed as Vice President of Operations and Supply Chain. With immediate effect, the appointment follows a competitive global executive recruitment process. Madiwal brings more than 30 years of experience in maritime operations and supply chain to the role. Since joining the Canadian port authority in 2019 as Direc
Which VIP cars are most often chosen by Dubai guests for rent? Dubai is a paradise for supercars. On every street, you can see luxury and exotic cars. Among them are business-class models of brands: BMW, Mercedes, Cadillac, Rolls-Royce, Audi, and others. Most of them are rented. Politicians, respectable businessmen, celebrities, and wealthy people often use luxury car rental Dubai . This is an excellent opportunity to impress potential business partners or f
SOS from ReCAAP ISC on sea robbery in Singapore Strait With three incidents onboard ships within a short period of time while underway in the eastbound lane of the Traffic Separation Scheme (TSS) in the Singapore Strait (SS) on 18 October, the ReCAAP ISC issued an alert to the maritime community on the continued occurrence of incidents of sea robbery in that area and warned a possibility of further incidents. "The three incidents occurred within two
Nuclear Transport Solutions starts automated wing sail trials Nuclear Transport Solutions (NTS) has become the first nuclear transport operator in the world to install and trial Smart Green Shipping's (SGS) FastRig wing sail on its vessels. Installation of the wing sail was done on one of NTS vessels, the Pacific Grebe, a purpose-built ship designed to safely carry nuclear cargo around the world. ...
PSA International to test sustainable electrification at Singapore port The innovation and venture capital arm of PSA International, PSA unboxed, and grid infrastructure firm Amperesand have agreed to conduct trials focused on port decarbonisation through electrification. This partnership involves a pilot trial of Amperesand's solid-state transformer technology at Singapore's port, as part of PSA's planned upcoming charging facilities for its fleet of electric prime
Panama orders immediate cancellation of all sanctioned vessels The president of Panama Jose Raul Molino has issued an executive decree which will see the Panama Ship Registry, the second-largest shipping registry in the world, cancel any vessel on international sanction lists. The Panama Maritime Authority said that it now had a legal mechanism that allows the immediate cancellation of the registration and navigation ...
MSC to take over Wilson Sons in $768m deal Swiss-based liner giant Mediterranean Shipping Co (MSC) has struck a deal via its subsidiary Shipping Agencies Services (SAS) to acquire a majority stake in Brazilian port and maritime logistics operator Wilson Sons. London-listed Ocean Wilsons Holdings said in a filing Monday it is selling its 56.47% interest in Wilson Sons to Gianluigi Aponte's MSC for ...
Boxports struggle as vessel bunching approaches covid levels Container ports are experiencing chaotic schedules not seen since the days of covid. Vessel bunching, where multiple vessels sail on the same week on the same service, has increased sharply this year, according to a new report from Danish consultancy Sea-Intelligence. On Asia-Europe in particular, this is essentially back to the same level as during ...
Newbuild prices surge 52% this decade Newbuild prices are at highs not experienced since their peak in 2008, with yards set to haul in a still very sizeable chunk of orders before the end of the year. The newbuilding price index created by Clarksons Research is now on a par with the 2008 peak in nominal terms, standing at 190 points, ...
Cido orders ammonia carrier brace South Korea's HD Hyundai Heavy Industries has won an order from compatriot Cido Shipping for two 88,000 LPG dual fuel capable very large ammonia carriers (VLACs). The units, costing $125.9m each, are due for delivery in Q2 and Q3 2027. The ordering of more than 50 VLACs over the past 12 months has made many ...
Price Cap Coalition issues new advisory, urges vigilance in tanker sales The Price Cap Coalition issued a new advisory Monday, updating previous guidance and adding recommendations, including to 'those involved in...
Maersk profits confirm blockbuster third quarter for container shipping lines Maersk's stellar 3Q24 profits are good news for investors in the most liquid liner stock, Zim. However, spot indexes imply...
Panama issues decree for 'immediate cancellation' of sanctioned ships The AMP announced Sunday that the government would immediately cancel ships included on sanctions lists from various jurisdictions
Daily Briefing Libya's lucrative fuel smuggling operations sustained by small tanker network | Seaspan deal spotlights renminbi settlements in China orders, but...
Libya's lucrative fuel smuggling operations sustained by small tanker network Black market fuel trade contributes to Libya's state of crisis, but there are also questions about what the profits of...
Seaspan deal spotlights renminbi settlements in China orders, but dollar dominance unchallenged Despite Beijing's renminbi internationalisation ambition and China's current favorable interest rates, settling shipbuilding contracts in its currency still encounters many...
Week in charts: Bull run for US imports continues | Tanker sanctions fail to interrupt Iran-China trade | Californian majors come out trumps in alliance shake-up US container ports continue to post exceptionally strong numbers, vessel-specific sanctions failing to stop flow of Iranian oil into China...
Ship finance in flux: Bonds and revolvers in, term loans and equity sales out Cash-rich shipowners are calling the shots on the debt finance front, according to speakers at the Capital Link New York...
Hull renewal season looking good for shipowners Glut of new managing general agencies ready to undercut incumbents, market sources report
MSC buys majority stake in Wilson Sons Wilson Sons operates terminals in Rio Grande and Salvador, two of South America's ports, and was majority-owned by Ocean Wilsons...
Automating port payments can save 'hundreds of thousands', says Harbor Lab Lack of standardisation and transparency across ports create an environment ripe for error and make it difficult to predict costs
MSC and Spliethoff both sell 1980s-built tonnage to Turkish ship recyclers MSC has sold a 1982-built boxship latterly serving as a Red Sea feeder vessel, while Netherlands-based Spliethoff has sold the...
Boxship bunching bouncing back Sea-Intelligence warns more boxships are sailing the same service in the same week, with levels of 'bunching' on Asia-Europe trades...
Chancay to 'soft launch' in November with Shanghai route Chancay will be able to accommodate the biggest containerships with a draught of 60 feet, with China-based shipping company Cosco...
Santos having best year so far as new terminal edges closer A new terminal at the port has been promised for some time, but ministers have agreed to begin the tender...
The week in newbuildings: More big boxship orders signed Maersk has contracted six ultra-large containerships in South Korea, while tonnage provider Seaspan has signed up for the same number...
Hanwha Ocean partners with GCMD to advance green transition The two partners will team up on low- and zero-carbon fuels, onboard carbon capture and storage systems, and energy efficiency...
Beijing enlists Cosco and China Merchants in stock market rescue Largest buyback comes from Cosco Shipping Holdings, which controls the world's fourth-largest container fleet, with an estimated cost of Yuan1bn-2bn...
Potential Trump tariffs would re-set business strategy for US importers: analyst It's not too soon for BCOs to begin game-planning for the results of the US presidential election and what a slew of new tariffs in a possible Trump administration could mean for importers, writes shipper consultant John McCauley.
Delay in Europe's deforestation rule does not address key issues: palm oil industry Small farmers of commodities such as palm oil or cocoa remain concerned about the demanding traceability requirements of the regulation that is seen as a barrier to trade with the European Union.
Proposed Oregon container terminal among projects winning DOT grants The US Department of Transportation's latest round of infrastructure grants also target port-adjacent roadways, berth expansions and yard equipment electrification.
MSC grows South American logistics portfolio with Wilson Sons acquisition The carrier will exit the 2M Alliance next January and has been on an acquisition spree over the past year to shore up its global logistics and container terminal operations.
Price Cap Coalition puts tanker sales in focus, urging vigilance for 'evasive or illicit' buyers Sellers and brokers need to check deal structures and a ship's expected end use
Pangaea Logistics sets date for shareholder vote on MTM Maritime acquisition Equity analyst has come to appreciate value proposition from view of private MTM
Maersk lifts earnings forecast to as high as $11.5bn on Red Sea disruption impacts Ebtida upgraded for second time this quarter on back of ongoing Middle East crisis
Maersk-chartered Costamare ship sails toward Dubai with no sign of claimed Houthi attack Incident appears to be among many that has seen Houthis claim an operation beyond the Red Sea and Gulf of Aden that has proven unfounded
Zodiac Maritime leads the charge as 'mini-boom' hits container charter markets Relets and forward-fixing reappear as charter activity picks up
Fire hits tanker engine room in waters off Singapore Port authority mobilises firefighting and rescue ships following blaze on the Med Atlantic
Boluda stays on acquisition trail with deal for Finnish ice breakers Spanish owner buys six-ship fleet of family-owned YHB
US Marine beats 11 owners to lucrative US Navy charter for product tanker Maritime Partners-controlled shipowner could bank up to $73m
Crude cannibal exits could help LR2 tanker rates double to $60,000 per day Analysts argue that dirty tankers could switch back out of product trades as earnings rise
Spanish oil company named as big-money charterer of Nordic American Tankers ship The $36,000 per day rate bests multiple assessments
Crown LNG closes in on US terminal site as it posts first results since listing Gravity-based structure fan reveals Vietnam terminal plan, the addition of power generation to the design and an India listing
Capesize spot rates fall below $19,000 per day as China hopes fade Rout continues for owners of large bulk carriers
Elite Tankship confirms long-term charter of new Pertamina product tanker pair Former Scorpio and Marinakis ships will trade with Mangish Kakodkar-led company for three years
Energy market big shots have diverging views on Chinese demand Saudi Aramco is positive but the IEA forecasts a slowing Chinese economy and decreasing oil demand
Has Christmas been cancelled for LNG shipowners? Is there hope of a recovery as fixing window moves towards year-end?
Evangelos Marinakis expands offshore fleet in deal with Arne Blystad PSV Ace Discoverer begins commercial operations for Aurora Offshore in Norway
Aframax takes Canadian crude to Alaska for first time in a decade Shipment shows range of options open to exports from expanded Trans Mountain pipeline
Euroseas secures lucrative charters from OOCL on feeder trio Profitable three-year deals for Chittagongmax trio as demand strengthens
Global Centre for Maritime Decarbonisation signs first shipyard partner Pair to work together on alternative fuels, energy efficiency technologies and onboard carbon capture
Shadow fleet 'saturation' knocks a chunk off tanker values, Clarksons says Analysts believe interest is waning in older ships both for non-mainstream and mainstream markets
Gianluigi Aponte's MSC splashes $768m to take over shipping and yard group Wilson Sons Container ships giant adds to presence in Brazil through long-mooted deal
Blacklisted shadow tanker baits UK sanctions chiefs with English Channel transit Britain says its coastguard agency would challenge ships with suspected dubious insurance
Tanker owners searching for value may have found it at shipyards as ordering surges With secondhand values remaining firm, some orders could be value-driven, Gibson says
Seacor Marine takes broker to court after charterer's bankruptcy Offshore vessel owner says it should be paid some of the $13m that GOL received from Cox Operating Chapter 11 case
Korea Line capesize pair sold amid signs of softening asset prices Vessels built around 2010 are the only capesize category affected by secondhand price declines so far
Hafnia adds product tankers to pool in deals with Vietnamese owners PVTrans and Pacific Petroleum hand over ships to giant product carrier operator
What a difference a year makes: Clarksons charts major change in fortunes at Suez and Panama canals Data shows a 70% drop in Suez transits while Panama volumes are recovering
Wison New Energies scoops early work for Papua New Guinea FLNG unit Kumul Petroleum Holdings wants to build 1.5 mtpa floater
Vitol agrees deal to ship 500,000 tonnes of LNG for China Gas Swap agreement will see trader and shipowner handle shipping from US
Green Reefers sells duo for recycling as prices dip in India One of Norwegian shipowner's reefers has been delivered to Turkey
Iran bypasses Strait of Hormuz with first VLCC loading at new Jask terminal NITC ship lifts first export cargo outside Middle East Gulf
DNB boosts shipping position with $1.1bn buy of Sweden's Carnegie Global investment banking unit will be renamed DNB Carnegie
Angeliki Frangou clinches multi-year Saudi Aramco time charters for four tankers Saudi oil major is among the traditional chartering counterparties of Navios Maritime Partners
Nakilat unveils earnings visibility with 879 years of firm charter contracts Doha-listed company now sitting on orders for 36 LNG carriers and four VLACs that will boost its fleet to 114 vessels
MAN Energy Solutions withdraws an engine designed for LNG carriers from sales shelf Danish company blames incoming IMO regulations and performance of its product
ONE, DP World box up hope for breast cancer awareness Ocean Network Express and terminal operator DP World created a message on a dockside canvas during Breast Cancer Awareness Month.
Emirates to nearly double 777 freighter fleet by late 2026 Emirates has placed an order for five current-generation 777 freighters and is eyeing a big order for next-generation freighters from either Airbus or Boeing.
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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