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JULY 23, 2024

Govt working on plan to boost exports to $2 trn by 2030 Asyad Group acquires Skybridge Freight Solutions, its first international acquisition in core logistics activities Vrrddhi Freight celebrating 10th Anniversary E-commerce export hubs framework by Sept. India likely to ease rice export curbs Agri products exports dip 3.24 pc in Q1 Economic outlook survey projects GDP growth at 7 pc in current fiscal Rotterdam port throughput remains the same in H1 2024 Charterers using VLCCs in the LR segment for CPP trade MSC invests in multimodal terminal adjacent to Paris via MEDLOG India, B'desh trade halts as quota stir intensifies PIL's refreshed brand unveiled FinMin extends CVD on Chinese tyres for 5 years DP World and Evyap Group forge new logistics hub to boost Turkish trade New Far East Latin America Express (FLX) service announced YANTIAN bags 'Best Green Container Terminal' award GDP to show impressive growth: Economic Survey Hodeidah port still on fire after Israel attacks Yemen Total throughput up at Port of Antwerp-Bruges driven by container transport Bahri partners with SLA to provide training and employment opportunities in KSA logistics sector China's foreign trade gets a boost via smart ports

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JULY 22, 2024

Crew member dies as Maersk Frankfurt catches fire on maiden voyage Ukrainian rail prospects hobbled by mismatched gauges OceanX: Trump trades; Schenker shades; OOCL brakes; cyber games Ripples from IT outage could spread through supply chains 'for weeks' News in Brief podcast | Week 30 2024 | Surcharges, strikes and IATA's stressful settlements Driver shortage down under - hit by a bus... More danger to box ships as Houthis expand Red Sea attack arena US hit by fall in meat exports as China scales back and Brazil steps up Ocean freight hits the jackpot as cherries line up for a controlled modal switch MSC continues to expand fleet with vintage vessels as profits top scrap value

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JULY 22, 2024

NOIA welcomes Energy Permitting Reform Act In a move applauded by the National Ocean Industry Association, U.S. Senators Joe Manchin (I-W.Va.) and John Barrasso (R-Wyo), respectively Chairman and Ranking Member of the Senate Energy and Natural Resources Committee, New cruise ship will have $1 million MOBtronic man-overboard-detection system U.K. based MARSS has won its largest-yet order for its MOBtronic automated man-overboard detection system, designed to instantly detect persons falling from a ship. Worth nearly $1 million, this latest contract is ABS inks MOU with USCG Research and Development Center The American Bureau of Shipping (ABS) and the United States Coast Guard Research and Development Center (USCG-RDC) have signed a memorandum of understanding (MOU) that opens the door to collaborative research and FERRIES 2024: First zero-emission, high-speed ferries in the U.S. Late last year, San Francisco's Water Emergency Transportation Authority (WETA), the operator of the San Francisco Bay Ferry system, signed a strategic partnership agreement that will see Wärtsilä provide its fleet electrification Rem Offshore back at Vard for a third CSOV Fosnavåg, Norway-headquartered Rem Offshore has signed a contract with Fincantieri Group member Vard covering the design and construction of a state-of-the-art CSOV. The vessel will be the third commissioning service operation vessel

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JULY 22, 2024

Survey: More Than 15 Years Needed for Transportation Sector to be Fully Powered by Sustainable Fuel Sources Almost half the respondents who took part in a survey spearheaded by Reed Smith revealed that they expect it to take more than 15 years for the sector to be powered by 100% sustainable fuel sources. These insights were gathered from nearly 50 of Reed Smith's clients in the transportation sector, including global companies in aviation, shipping, logistics, manufacturing, utilities, and environment Trump's proposed US tariffs could impact Los Angeles port, director says The proposed tariffs recommended by former president and Republican presidential nominee Donald Trump could "change the landscape for the future" of the Port of Los Angeles, the port's executive director Gene Seroka said recently during the monthly presentation of port volumes. Should he be re-elected this November, Trump is proposing a 10% tariff across all imported goods and a 60% tariff on go SeaLead-operated boxship dodges Houthi assault A container ship operated by SeaLead Shipping was attacked by Houthi missiles and drones on 20 July. The 2006-built, 5,059 TEU vessel Pumba was deployed to SeaLead's Five Seas Express service connecting China to the Red Sea and the Mediterranean. Vessel-tracking data shows Pumba departed Saudi Arabia's port of Jeddah on 17 July and was likely heading towards Egypt's Port Said. The United Kingdom Canada invests in green ship technology In response to the intense climate change, Transport Canada aims to address the environmental impact of marine shipping through its Green Shipping Corridors Program. "Canadians across the country rely on marine shipping to deliver products we use every day in an affordable, safe, environmentally friendly, and efficient way. The projects will grow a strong economy and get people the goods they nee Seafarer dies in blaze on Maersk-chartered ship A seafarer has lost his life in the inferno of the newly built container ship Maersk Frankfurt, as firefighters continue to battle the flames three days after the fire broke out on 19 July. The Panama-flagged 5,920 TEU Maersk Frankfurt, delivered to Japanese tonnage provider Tokei Kaiun from Imabari Shipbuilding in June, is on a three-year time charter to Maersk Line. Bernhard Schulte provides te Reputation matters: It's time to digitalise ocean freight Global economics and conflict continue to push trade, cargo demand, capacity and pricing in unexpected directions, creating headaches for the ocean cargo ecosystem. Carrier teams are looking to work faster, understand change better and deliver stand-out service with competition for custom being so high. This all asks questions of ocean carriers' ability to understand and respond effectively to ch Global bunker indices show moderate downward trend During the 29th week of the year, the Marine Bunker Exchange (MABUX) global bunker indices experienced a moderate downward trend. The 380 HSFO index decreased by US$2.58, dropping to US$554.73/MT, the VLSFO index saw a decline of US$7.33 to US$652.74/MT and the MGO index fell by US$10.78 to US$840.92/MT. "At the time of writing, global bunker indices continued to decline slightly," stated a MABUX MANA Nutrition to open new warehouse in Georgia On 17 July, MANA Nutrition officials celebrated a groundbreaking ceremony for a major expansion of the company's supply chain facilities with a new 29,729 m² warehouse in Pooler, Georgia. The new facility is located four miles from the Port of Savannah and is expected to enable MANA to double its production capacity and enhance storage capabilities. "We want to dedicate about 30% of the facility PortMiami unveils shore power initiative for cruise ships Miami-Dade County Mayor Daniella Levine Cava marked the introduction of shore power at PortMiami, a significant advancement that is expected to allow cruise ships to shut off their engines and connect to onshore electrical power while docked. "As Mayor, I vowed to protect our environment; shore power has been my personal dream and initiative. We embarked on this journey in 2021, thanks to an inno CMA CGM increases rates from Indian Sub to North Europe and Med CMA CGM has announced new Freight All Kinds (FAK) rates effective from 1 August 2024 (gate-in date), until further notice. The updated prices will apply to dry cargo from the Indian Subcontinent (India, Pakistan and Sri Lanka) to North Europe and the Mediterranean. The updated FAK rates will apply as follows: If you liked this post, please consider donating The post appeared first on Container N India-Europe FAK rates heading to new highs as shippers scramble for space Indian exporters sending goods to Europe are set to face significantly higher freight rates next month, as container lines already have their vessels overbooked for the upcoming weeks. Carriers have successfully pushed spot rates and freight-all-kinds (FAK) rates up, after seeing some softening trends from the Red Sea crisis-induced spikes a couple of months ago. The latest announcements by major Port of Oakland Board approves solar power deal The Oakland Board of Port Commissioners has greenlit a US$19.3 million deal to secure solar power for the next two decades. "The Port continues to build its long-term renewable energy portfolio demonstrating our commitment to sustainability, which benefits our customers, community, and environment. Energy pricing can be unpredictable, so entering into a long-term agreement guarantees a fixed pric

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JULY 22, 2024

Product tanker seized off Iran Iran's Islamic Revolutionary Guard Corps (IRGC) seized a product tanker after it left the Khor Al Zubair port in Iraq loaded with 1,500 tonnes of gas oil. Splash has received information that the tanker in question is the Togo-flagged Betelgeuse. The vessel is owned by the Marshall Islands-based company Madrigal Marine. The owner's representative, Ahmad ... Valaris lands $498m drillship deal with Equinor Brazil New York-listed offshore driller Valaris has won a multi-year contract with Equinor's subsidiary in Brazil for the drillship Valaris DS-17. The deal covers work on the Ria project offshore Brazil, Equinor operates in partnership with Repsol Sinopec and Petrobras. The contract, worth about $498m is estimated to last 852 days and includes managed pressure drilling, ... Sea1 Offshore bags long-term MPSV extension deal from PXGEO Norway's Sea1 Offshore has agreed a long-term contract extension with marine seismic player PXGEO for its multipurpose support vessel Siem Dorado. The Christen Sveaas-led OSV owner and operator has fixed the 2009-built MPSV for two years and four months in direct continuation of the vessel's current employment. The new extension will keep the ship utilised ... Norden buys Norlat Shipping Danish owner and operator Norden has sealed a deal to acquire Norwegian dry bulk operator Norlat Shipping. Founded in 1986, privately owned Norlat specialises in the shipment of forest products and other bulk commodities on trade routes from Northern Europe to North Africa and North America. The company has offices in Sarpsborg and Bergen in ... Nissen Kaiun signs for very large ammonia carriers in China Nissen Kaiun has been tied to an order of very large ammonia carriers in China. Brokers reported Japanese shipping mammoth had contracted four 88,000 cu m newbuilds at Yangzi-Mitsui Shipbuilding (Yamic) a joint venture yard between China's Yangzijiang Shipbuilding and Japan's Mitsui E&S Shipbuilding. The ships are set for delivery from May 2028 through February ... Trafigura buys Gearbulk out of High Heat Tankers venture Global commodities trader Trafigura has acquired Gearbulk's stake in High Heat Tankers (HHT) joint venture for an undisclosed sum. The HHT business ships liquid coal tar pitch through long-term contracts of affreightment, focussing on aluminium smelters primarily based in the Middle East, the West Coast of Canada and Asia. The 50/50 owned jv was set ... Woodside expands into US with $900m Tellurian buy Australian energy major Woodside has entered into a definitive agreement to acquire Houston-based LNG exporter Tellurian, including its owned and operated US Gulf Coast Driftwood LNG development. The consideration for the transaction is an all-cash payment of approximately $900m. The implied enterprise value is approximately $1.2bn. According to Woodside, this represents an entry into an ... Greek shipowner duo forges ahead in domestic banking sector Greek shipowners and entrepreneurs Dimitris Bakos and John Kaimenakis have stepped up their game in the banking sector with a merger deal with Greece's fifth-largest lender. Thrivest Holding, owned by the duo together with Alexandros Exarchou, has finalised a deal to combine Pancreta Bank and its larger peer, Attica Bank. The agreement, which is part ... United Product Tankers closes its doors Germany's United Product Tankers (UPT) has closed up shop after experiencing difficulties securing tonnage for commercial management and pooling. The Hamburg-based outfit of the Columbia Group recently ceased its operations after 21 years in the business, citing the impact of positive sentiment in the product tanker segment that has led its clients to either cash ... Israel and Houthis trade blows as Red Sea shipping crisis enters new phase The nine-month long Red Sea shipping crisis entered a new, more dangerous phase over the weekend with Israel and the Houthis now in direct confrontation, carrying out long-range attacks on each other, and lending credence to the claims by the Houthis that they have the capacity to attack targets in the Mediterranean. A Houthi drone ... White knight emerges in race to save Harland & Wolff A possible white knight has emerged to save the crisis-hit Harland & Wolff shipyard in Northern Ireland. The Belfast yard, famous for building the Titanic, has been in severe financial difficulty for a long time and on Friday the new government of the UK decided not to issue keenly sought £200m ($259m) loans to it, ... Densay sells handy to HMM for a swift profit Turkey's Densay Shipping & Trading has made a smart asset play, pocketing millions from a handysize it picked up four months ago. Brokers report Densay has sold the Japanese-built, seven-year-old SSI Daring to South Korea's HMM for $26.7m. Densay had picked up the 36,228 dwt ship from Lauritzen for $24m in March. Densay also sold ... Dong Fang Offshore CSOV newbuild wins work on wind farm off Taiwan Taiwan-based offshore wind service player Dong Fang Offshore has won a contract for its CSOV newbuild from Copenhagen Infrastructure Partners (CIP) for work on the Fengmiao I offshore wind project. The vessel has already been ordered and will be delivered in the first quarter of 2027 from the shipyard and will sail under the flag ... Crew escapes from massive blaze on Nigerian FSO Following a fire outbreak, all 19 crew members from the Britania U floating storage and offloading (FSO) vessel have been saved. The Nigerian Maritime Administration and Safety Agency (NIMASA) said that it collaborated with other agencies and first responders to ensure the safe rescue and evacuation of the crew and other exposed persons during the ... Chinese VLCC involved in Singapore tanker collision apprehended in Malaysia Friday's dangerous tanker collision off Singapore took a twist over the weekend with one of the vessels involved fleeing the scene before being apprehended by authorities in neighbouring Malaysia. The Maritime and Port Authority of Singapore (MPA) reported that a fire broke out on both a Singapore-flagged tanker Hafnia Nile and a São Tomé and ... Seafarer dies in severe blaze on Maersk vessel off India One seafarer has died in the severe blaze onboard the one-month-old Maersk Frankfurt off India. Indian Coast Guard ships, helicopters and planes spent the weekend dousing the ship, with latest reports suggesting the fire has been surpressed, but there is still much smoke from the front deck of the 5,500 teu vessel. The Panama-flagged Maersk ...

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JULY 22, 2024

Iran seizes Togo-flagged tanker Lloyd's List Intelligence data and an IRGC-affiliated news outlet indicate the seized vessel is the 1,767 dwt Betelgeuse. The incident... Box rates still historically high, but more 'cracks' and peak signals emerge Is this the top for container shipping spot rates? On one hand, supply and demand fundamentals argue it is. On... FuelEU to allow mass-balanced fuels EU publishes FAQ for upcoming FuelEU legislation Yemen port disruption unclear as attacks escalate Despite claims that Hodeidah port was not affected by an Israeli air strike on Saturday, which saw a power station... Nautical Institute remains voice of the practical mariner, says Bailey 'Seagoing as a career is not defined by the term seagoing. To me, it's defined by the term nautical; it's... How UECC chose to run its ships on cashew nuts Oslo-based shortsea car carrier UECC has big plans for LNG and biofuels Indian government calls for armed guards review India's shipping ministry has questioned whether private security training is sufficient to deal with uncrewed vessel attacks and has called... One crew dead in fire on board Maersk-chartered containership Fire on board the 2024-built, Maersk-chartered Maersk Frankfurt has claimed the life of one seafarer MSC sells former Soviet Union containership for Hong Kong Convention recycling World's largest operator of containerships has sold 1,438 teu, former Baltic Shipping fleet, boxship to Indian ship recyclers. It is... Industry groups and member states pitch CII amendments to IMO IMO member states will consider potential changes during the MEPC82. These suggestions are likely to be taken into account in... Trafigura buys out Gearbulk stake in High Heat Tankers joint venture Trafigura doubles down on specialist tanker trade taking full ownership of previous joint venture with a new order to boost... The week in newbuildings: Dry cargo carriers and containerships prevail Six shipowners pen newbuilding contracts for bulk carriers, while in the containership sector Ocean Network Express adds methanol dual-fuel neo-panamaxes... Malaysia Coast Guard intercepts 'dark fleet' tanker Ceres I involved in collision off Singapore As the investigation continues, traces of oil spillage have been discovered Labour disruption delays HMM neo-panamax newbuilding deliveries The first two of six HMM newbuildings ordered from Hanwha Heavy Industries entered service three months later than their scheduled... Iran's tankers double down on concealment efforts post-sanctions Analysis of satellite and AIS data shows these ships still play a role in Iran's oil sector, but experts insist... Daily Briefing Irregular AIS tracking seen with serial 'spoofer' Ceres I before Hafnia Nile collision | Skuld leads hull slip on Hafnia... Industry groups and member states pitch CII amendments to IMO IMO member states will consider potential changes during the MEPC82. These suggestions are likely to be taken into account in... Trafigura buys out Gearbulk stake in High Heat Tankers joint venture Trafigura doubles down on specialist tanker trade taking full ownership of previous joint venture with a new order to boost... The week in newbuildings: Dry cargo carriers and containerships prevail Six shipowners pen newbuilding contracts for bulk carriers, while in the containership sector Ocean Network Express adds methanol dual-fuel neo-panamaxes... Malaysia Coast Guard intercepts 'dark fleet' tanker Ceres I involved in collision off Singapore As the investigation continues, traces of oil spillage have been discovered Labour disruption delays HMM neo-panamax newbuilding deliveries The first two of six HMM newbuildings ordered from Hanwha Heavy Industries entered service three months later than their scheduled... Iran's tankers double down on concealment efforts post-sanctions Analysis of satellite and AIS data shows these ships still play a role in Iran's oil sector, but experts insist... Daily Briefing Irregular AIS tracking seen with serial 'spoofer' Ceres I before Hafnia Nile collision | Skuld leads hull slip on Hafnia...

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JULY 22, 2024

Ocean carriers face new FMC rules on dealing with US exporters The Federal Maritime Commission has set out the guidelines ocean carriers will need to follow to avoid claims from exporters that they are not being treated fairly. Expect rising air cargo rates through second half of year: DHL index The second half of 2024 is not likely to bring rate relief for shippers forced into the air by geopolitical events and trade tensions between the US and China. H1 breakbulk, ro/ro tonnage down at Rotterdam, Antwerp-Bruges Weaker demand, congestion and supply chain disruptions held back volumes at two of Europe's largest breakbulk ports during the first six months of the year. Contract flexibility offers release valve for pressure of spot rate swings Ocean carriers and cargo owners should recognize that a very large gap between contract and spot rates creates stress and that it's pragmatic to incorporate some flexibility into the contract, writes consultant Jeremy Masters.

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JULY 22, 2024

Shipowner says crew in jail after Iran seizes tanker Small product carrier with 12 Indian crew members taken to port of Bushehr Star Bulk's 20-year-old ship reported to fetch 'strong' price months after Houthi attack Sale price represents highest value for bulker since June of last year Demolition 'tsunami' on ice as container shipping players rake in profits MSC tops scrapping list as elevated earnings and asset values keep rising Genco sells capesize bulker as buyers seek blue-chip tonnage in active market, brokers say Bulker owner sells off last Sungdong-build ship acquired from Metrostar in 2007 Greek shipping stalwart and ex-ICS chairman Spyros M Polemis dies Respected Andriot ship owner and one of the first proponents of a shipping carbon levy was 86 years old Navios linked to tanker sale as wide-ranging fleet renewal drive extends Indonesian buyers said to be swooping on one of the oldest product carriers in the fleet of the US-listed behemoth DOF Group looks to add Maersk names to board as $1.1bn deal enters final furlong Erik Bergoo and Kristin Holth are being positioned to take new seats on the board Danaos ties up string of charter deals with liner giant Cosco in strong market Another raft of forward fixtures point to the enduring strength of the container charter market Deadly Houthi sea drone strike sounds alarm over ship security teams Indian shipping regulator says video of the attack 'doesn't show control of the situation' HD Hyundai Heavy promotes first overseas employee to site team leader Sri Lankan employee now in charge of 28-person team Harland & Wolff boss quits as UK government denies financial support Loan worth £200m rejected as Flacks Group could be interested Shipowner Carisbrooke keeps profit margin high after trimming fleet Accounts also reveal significant investment in newbuildings for fleet renewal HD HHI promotes first overseas employee to site team leader Sri Lankan employee now in charge of 28-person team MR tankers expected to stay strong as owners hunt for deals The asset class has seen secondhand values shoot up in recent months Fulford-Smith talks seed investments, Tor Olav Troim and shipping players 'supporting Putin's war' Affinity (Shipping) CEO explains how ESG investments will support shipbroking expansion Blaze rips through FSO off Nigeria as all 19 crew members rescued Nigerian maritime agency says Brittania-U sent emergency message on Thursday First shadow fleet LNG carrier loads cargo at Russian Arctic terminal Dubai-owned, ice-strengthened vessel picks up cargo at Yamal plant as others circle outside ice limits Norden buys Norwegian operator NorLat Shipping to grow parcelling business Acquisition is Norden's second buyout of a projects and parcelling specialist Kyriakou family's Athenian Sea Carriers extends chemical tanker push to 10 newbuildings Greek shipowner returns to Chinese shipyard for two more ships Trafigura buys Gearbulk stake in High Heat Tankers Trading giant takes full control of Singapore asphalt and bitumen pool venture's 14 ships Red Sea 'normalisation' to hit product tanker demand in 2025, predicts Clarksons But a 'prolonged rerouting' around the Cape of Good Hope could change this scenario Tufton Oceanic 'well advanced' on new investments after tankers sales Company has up to $25m of investible cash to spend, sees potential in containers As VLCC crew fight fire after South China Sea collision, identity of tanker insurer remains a mystery Norwegian insurer says it is yet to make contact with cover provider of Ceres I US law firm Squire Patton Boggs extends European expansion with new Swiss office Geneva base will be run by commodities and shipping co-head Kate Sherrard Trade wars, tankers and protectionism: What a Trump White House comeback could mean for shipping Streetwise explores how regime change in the US could impact shipping equities Fire hits key Rosneft refinery after latest Ukrainian drone strike Russian authorities say debris from drone started fire at Tuapse refinery on Black Sea Top Ships strikes deal to buy 'megayacht' from boss Evangelos Pistiolis Para Bellum to be chartered out on short-term deals Greek shipowner pair move into banking big time with bailout of struggling lender Altomare principals set to take control over Attica Bank from Greek bailout fund Cosco ferry arm recycles veteran ropax as MSC offloads its oldest container ship Ferry and container ship sales come during an otherwise lacklustre week on the ship recycling front Woodside looks to buy Tellurian to become 'global LNG powerhouse' Australian energy giant spending $900m to take control of proposed Driftwood project Malaysian authorities capture fleeing Chinese VLCC involved in collision with Hafnia vessel Ceres I was being towed away from the Malaysian coast when it was apprehended on Sunday Maersk container ship fire claims life of one seafarer Latest reports indicate fire on board Maersk Frankfurt has been suppressed but smoke still billowing from vessel Singapore OSV player CH Offshore on road to recovery with profitable 2024 on the horizon Bottom line boosted by higher vessel utilisation and revenue from third-party vessels chartered in Israel-Houthi feud escalates after Yemeni group strikes Tel Aviv Houthis inflict first major, confirmed strike in Mediterranean with a new kind of long-distance drone New Fortress produces first offshore LNG a year later than planned Company yet to detail volumes and loading of export vessel

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JULY 22, 2024

Boeing bullish on freighter demand as National Airlines orders 777s National Airlines plans to order four 777 freighters, underscoring why Boeing remains upbeat about the air cargo market over the next 20 years. FMC rejects claims it is using new container rule to regulate prices Federal regulators have finalized a rule making it harder for ocean carriers to refuse to provide vessel space for customers. Lynden Air Cargo pursues exemption to airdrop pallets from 500 feet Alaska-based Lynden Air Cargo received FAA approval to modify a civilian version of the Hercules C-130 with an aerial delivery system so it can support more humanitarian missions.