Carbon Ridge raises $9.5M to accelerate onboard CCS commercialization Los Angeles-headquartered onboard carbon capture and storage (CCS) start-up Carbon Ridge Inc. reports that it has raised $9.5 million in funding, bringing its total funding to date to $15.5 milliom. The round
Ten new Capital Offshore PSVs will be Kongsberg Maritime equipped After years in which orders for new platform supply vessels (PSVs) were a rarity, Evangelos Marinakis' Capital Offshore is changing things up, including by placing an order with China's Fujian Mawei Shipbuilding
ZIM updates PSS from Far East to Med, Black Sea and North Europe Israeli container carrier ZIM has updated its Peak Season Surcharge (PSS) from Far East to East Mediterranean, West Mediterranean, Black Sea, excluding Russian trades, and North Europe. ZIM's surcharge will be effective from 1 November until further notice. If you liked this post, please consider donating The post appeared first on Container News .
Supply Chain Resilience fire up complexities in Middle East - Far East route The current interruptions in key international shipping routes and critical maritime choke points create an extremely difficult environment for maritime trade and shipping operations. Currently, we see significant disruptions simultaneously affect two crucial maritime trade passages: Middle East and Far East. This content is locked Select a CN Premium Subscription Package To Unlock The Content! I
MPA Singapore, IRENA collaborate on energy transition for maritime and port sectors The Maritime and Port Authority of Singapore (MPA) and the International Renewable Energy Agency (IRENA) have formalised their collaboration through a memorandum of understanding (MoU). The two partners aim to accelerate the energy transition of global maritime and port sectors with the initiative aligning with the goals of the International Maritime Organization (IMO) and the Nationally Determin
CMA CGM, SUEZ sign MoU to develop biomethane production in Europe French shipping company CMA CGM Group and SUEZ, a circular waste management solution provider, signed a memorandum of understanding (MOU) on 18 October, aiming to establish a long-term industrial partnership on biomethane, a renewable fuel produced through waste recovery, to help decarbonise shipping in Europe. The agreement sets out three main areas of collaboration: The supply by SUEZ of up to
IAPH announces new Climate and Energy technical committee chairman The International Association of Ports and Harbors (IAPH) has announced the appointment of Edvard Molitor of the Port of Gothenburg as the new chairman of the IAPH Climate and Energy technical committee. Molitor, who is head of International Public Affairs & Sustainability at the major port of Sweden, has served as vice-chairman on the committee since 2021 and steps into the shoes of Peter Mollem
Shifting Tides: Container Volume Trends in Major Trade Hubs The global shipping landscape has undergone significant transformations from 2019 to 2023, shaped by various economic forces and unprecedented challenges. This period, marked by the disruptions of the Covid-19 pandemic, has tested the resilience of major trade regions, each responding differently to the shifting tides of global commerce. North America, East Asia, and the Middle East are pivotal p
Container dwell times at San Pedro Bay ports reach year-high levels San Pedro Bay ports recorded the highest levels of the year in both truck and rail-destined container dwell times. Pacific Merchant Shipping Association (PMSA), an independent association representing owners and operators of marine terminals, ocean carriers, and vessels operating on the US West Coast, noted that as cargo volumes at the San Pedro Bay ports continued their surge last month, Septemb
Singapore suffers second oil spill in four months Oil major Shell, which has a refinery in Singapore, said on 21 October that 30 to 40 tonnes of slop, a mixture of oil and water, leaked from its land-based pipeline into the sea. Shell is now working with Singapore government agencies, namely Maritime and Port Authority of Singapore (MPA), National Environment Agency, National Parks Board, PUB, Singapore's National Water Agency, Sentosa Developme
Using an Availability Tracker to Improve Product Restocking Efficiency Availability trackers are transforming e-commerce inventory management, with 78% of retailers reporting improved restocking efficiency after implementation. These AI-driven tools offer real-time stock monitoring, predictive demand forecasting, and automated reordering across multiple sales channels. A McKinsey study found that businesses using advanced trackers reduced stockouts by 40% and cut ex
Port of Antwerp-Bruges surpasses 10 million TEU threshold in 9M2024 The total container throughput of the Port of Antwerp-Bruges reached 10.15 million TEUs in the first nine months of the year, translating to a 6.8% year-on-year growth. It is important to note that nearly one in 10 of the containers handled by the Belgian port is a reefer box. In the first nine months of 2024, the number of full reefers increased by 9.7%, accounting for 8.5% of total container th
DP World Dakar to use Portchain Connect to simplify berth alignment process DP World Dakar will join the Portchain Connect network to increase the quality and speed of their berth alignment with customers through digital handshakes and secure data sharing. Portchain Connect is expected to enable DP World Dakar to receive real-time schedule and move count updates directly from carrier systems, and enable them to respond and counter-propose quickly, to align the vessel sch
Maldives Male Port's Strategic Role in the Indo-Pacific The Maldives' strategic positioning in the Indo-Pacific has garnered significant attention, particularly as its international alliances and economic policies evolve. This content is locked Select a CN Premium Subscription Package To Unlock The Content! If you liked this post, please consider donating The post appeared first on Container News .
Brazil speeds up port privatisation efforts The Brazilian government is advancing its plan to privatize several ports and terminals, aiming to auction off 22 port concessions by the end of next year, including three before the end of 2024. This initiative is part of a broader strategy of the Brazilian government aiming to enhance efficiency and attract private investment in the sector. Overall, the government has set a goal to privatize at
Panama orders cancellation of all sanctioned vessels and owners Panama's government has issued an Executive Decree ordering the cancellation of ships or registered owners included in international sanction lists from the Panama Ship Registry. The Panama Maritime Authority (AMP) announced that a legal mechanism has been established that will allow the immediate cancellation of the registration and navigation patent for international or domestic service of vess
Grimaldi strengthens Trieste-Ambarli Ro-Ro line with Greek port addition Grimaldi Group has decided to enhance the Trieste-Ambarli Ro-Ro route with an intermediate call at Greece's Patras port. Grimaldi aims to establish a direct connection between Greece and Turkey and also improve the connections between these countries and Italy. The updated Trieste-Patras-Ambarli service will become commence full operations on 23 October and will be operated by the sister vessels
Gemini's challenge to container orthodoxy The launch of Maersk and Hapag-Lloyd's Gemini Cooperation will bring a new dimension to the container shipping sector with a hub and spoke shuttle service that guarantees its scheduled arrival times. This content is locked Select a CN Premium Subscription Package To Unlock The Content! Mary Anne Evans Correspondent at Large If you liked this post, please consider donating The post appeared first
Paranaguá Container Terminal electrifies equipment At the end of September, the conversion of Paranaguá Container Terminal's (TCP's) third RTG (tire-operated gantry) crane from diesel to electric power was completed. The equipment is already working on loading and unloading trains arriving at the terminal, which is the only one in southern Brazil with a railway with direct access to the primary zone, within the operations yard. "The electrificati
Reach Subsea secures $15m EU funding for unmanned offshore vessels Norwegian offshore services player Reach Subsea has secured backing from the EU Innovation Fund to scale up the development of its remote unmanned surface vessels. The so-called Reach Remote project, which focuses on Norway's pioneering fleet of uncrewed 24-m USVs, featuring hull-mounted survey sensors and a work-class electric remotely operated vehicle (ROV), has been granted ...
Seatrium picks up $76m in contracts Singapore shipyard group Seatrium has revealed a new series of repairs and upgrade contracts worth in total about S$100m ($76m). The contracts from various long-standing clients cover a range of projects, including carbon capture and storage (CCS) retrofits, LNG carriers, offshore vessels and tankers amongst others. The CCS retrofit, Seatrium's second year to date, is ...
Smart Green Shipping gets funds to continue wind sail development Renewable energy firm Drax will add funding to develop Smart Green Shipping's FastRig automated wind sail. Drax will inject £1m ($1.3m) into the initiative, matched by funding from the UK Government's Clean Maritime Demonstration Competition grant. Smart Green Shipping is currently undertaking sea trials of the FastRig wind sail on one of Nuclear Transport Solutions' ...
Brokers given warning by the Price Cap Coalition The Price Cap Coalition maintained by the G7, the European Union, Australia, and New Zealand has issued an update to its policies regarding Russian oil, with a specific warning for brokers. The document, published yesterday, states: "A 'shadow' trade has become more pronounced, often involving actors and cargo affiliated with countries and/or persons subject to ...
Tidewater bags Peterson PSV contract OSV owner Tidewater has clinched a new charter deal for its platform supply vessel Troms Lyra. Offshore shipbrokers report a 170-day fixture with energy sector logistics provider Peterson Den Helder on supply duties for the plug and abandonment jackup rig Well-Safe Protector. The 2013 Vard-built PSV that Tidewater took over with the acquisition of Norway's ...
Brazilian court overturns Saipem's ban on public contracting The Federal District Court of Brasilia has annulled the order of the Controladoria-Geral da União (CGU) prohibiting Italian offshore engineering and construction giant Saipem and its Brazilian arm from contracting with the Brazilian public administration. Saipem was suspended from signing new contracts with the Brazilian public administration for two years following a probe into alleged ...
Subsea7 and OneSubsea firm up BP framework deal Subsea7 and its Subsea Integration Alliance partner OneSubsea have signed a global frame agreement with UK supermajor BP - forming a platform that is expected to combine subsea expertise much more effectively across a portfolio of future projects. The framework deal follows a memorandum of understanding signed by the trio in September 2023 that envisioned ...
US presses ahead with 7GW wind scheme off New York The US Bureau of Ocean Energy Management (BOEM) has completed an environmental review for potential wind development activities within the New York Bight area. The six wind lease areas in the environmental review cover over 1.975 sq km offshore New York and New Jersey. With the review completed, BOEM estimated that lease areas could generate ...
Euroseas charters out boxship trio on long-term deals Nasdaq-listed Greek boxship tonnage provider Euroseas has landed new charter contracts for three modern 2,800 teu feeder vessels. The company said all three deals are for up to three years at $32,000 per day with a fixed period of 34 months. Aristides Pittas-led Euroseas, which boasts a fleet of 25 ships on a fully-delivered basis, ...
Boluda snaps up Finnish icebreaker firm Spanish towage giant Boluda is pressing ahead with its expansion via the acquisition of the Finnish company Yxpila Hinaus-Bogsering (YHB). YHB is a family-owned company that started operating more than 40 years ago, providing harbour towage and icebreaking services. The move will add six vessels to Boluda's fleet, five of them icebreakers. Boluda said the ...
Hafnia boosts MR pool with Vietnamese owners Product tanker giant Hafnia is bolstering its MR pool with two ships from Vietnamese owners. The BW Group company has welcomed PVTrans Oilfield Services and Pacific Petroleum, bringing in a tanker each this month to further strengthen the pool's presence in the region. PVTrans is adding the 2008-built 47,400 dwt PVT Valencia to operations starting ...
Brazil's port privatisation plans accelerate Brazil's port privatisation plans are stepping up a gear with the government announcing plans to auction off 35 terminals. In the accelerated ports sell-off sheme, 22 terminals are scheduled to be auctioned between now and the end of 2025, including three before the end of this year. Among the key sales are a new terminal ...
Diana Shipping fixes $80m refinancing with Danish lender Greek bulker owner Diana Shipping has struck a refinancing deal with Danish Ship Finance. The Danish lender has provided $80.2m to the New York-listed company to refinance the existing loan the duo previously agreed to and originally maturing in April 2028 while secured by nine vessels. The new seven-year deal will see the loan maturing ...
Japanese trial soft sails on bulk carrier Japanese finance and trading house Orix Corporation has teamed with compatriot Sumitomo Heavy Industries to study the use of soft sails on one of its bulk carriers. The feasibility study will utilise wing-shaped soft sails manufactured by North Sails Japan. The sails are made of polyethylene fibre fabric, and are 8 m high and 13.2 ...
Jiangsu Steamship brings its cape arm up to 10 ships A string of vintage capes has been reported sold in the last couple of weeks, with Chinese owners throwing millions on the tables. One of these owners is Jiangsu Steamship who has reportedly tabled just under $64m for two Korea Line-owned capes, the 15-year-old STX-built K.Daphne and the one-year younger Daewoo-built Lavender. Jiangsu Steamship recently ...
Is today's volatility different? Mentioning spot shipping markets is not possible without mentioning how highly volatile they are. Pierre Aury explains. The Oxford English Dictionary defines something volatile as something liable to change rapidly and unpredictably. The graph below is a good illustration of that volatility. The graph shows the Baltic Dry Index (BDI) in points starting at 1,000 ...
Dry bulk sentiment sours as spot rates continue to slide Any positive dry bulk sentiment from China's stimulus announcement has already evaporated. Chinese iron ore and coal stockpiling, together with...
Daily Briefing Veteran policy adviser calls for China to add shipping to its carbon trading system | Panama issues decree for 'immediate...
Poorest states bear biggest burden from trade disruption - Unctad Unctad's latest maritime trade review says urgent action is needed to strengthen maritime chokepoints and promote low-carbon shipping
Maritime crime is falling - but we must keep talking about it Despite incidents of piracy and armed robbery seemingly decreasing, experts highlight the impact even a single unsuccessful attempt can have...
Antwerp-Bruges container throughput up 6.8% in 2024 Belgium's biggest port group recorded strong container volumes in the third quarter of 2024, but dry bulk, liquid bulk and...
Diana refinances with Danish Ship Finance Deal releases two previously mortgaged bulkers for US-listed owner
Veteran policy adviser calls for China to add shipping to its carbon trading system Remarks come amid growing speculation over whether the world's largest trading nation will follow the European Union's lead in levying...
Poll reflects doubts about ability to hit net zero goal on time Doubts expressed despite 'notable progress' on sustainability, particularly environmental measures
CMA CGM inks MOU to secure biomethane The joint investment structure, with an initial funding of €100m, will develop biomethane production facilities in Europe to supply both...
Boxship time charter rates nudge upwards amid vessel shortages Braemar reports a panamax ship and a post-panamax vessel have been chartered out by their liner operator owners to other...
Double-digit drop for all-in VLCC insurance costs Baltic Investor Indices confirm feedback from marine brokers
Seafarers willing to work with ammonia but more training needed In a survey of 2,000 maritime professionals, 59% of seafarers said they were willing to work on ammonia-powered ships, but...
Shanghai targets throughput of over 65m teu by 2035 Shanghai-based shipping giant Cosco highlighted efforts in intermodal network development and AI technology adoption
Employment Rights Bill broadly welcomed by UK maritime Shipping is at the centre of political controversy after a 'cowboy operator' jibe is made at P&O Ferries
Suction sail developer pitches FuelEU savings as it signs new deal Bound4blue says its rigid suction sail technology could save vessels up to $576,000 per annum, including ETS and FuelEU costs...
Owners bullish on dry bulk despite China's slowdown and sliding rates Facing freight market headwinds, speakers at the recent Capital Link Shanghai forum have shifted their focus on a string of...
US spot truckload rates turn upward again post-Milton Freight marketplaces report a new storm-related surge in spot volume, lifting transactional pricing as trucking heads toward its peak holiday season.
North-South trade facing schedule woes, congestion in wake of ILA strike Market sources say cargo leaving ports in Brazil, Argentina and Uruguay is being delayed because ships bound for those ports are arriving from the US with disrupted schedules following the Oct. 1-3 strike.
Maersk hikes full-year profit forecast amid expected strong Q3 financials It marks the second time since August the carrier has increased its 2024 earnings guidance, an indication Maersk expects robust demand and rising rates to deliver a strong finish to the year.
CMA CGM inks biomethane supply deal, will share $108 million fuel investment The aim of the partnership with Suez is to establish a long-term industrial collaboration on biomethane, with the fuel generated supplying the carrier's alternative fuel fleet.
Antwerp-Bruges grows container market share with solid Q3 volume The Belgian hub says it now handles almost one-third of the container trade in the busy Hamburg-Le Havre port range.
Potential Trump tariffs would reset 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.
Sale or scrap offers invited for stranded modern SK Shipping LNG carriers One ship has lifted two cargoes and the second never traded
New Dubai ship manager takes over sanctioned Sovcomflot LNG carriers Matias Ship Management linked to three gas ships owned by Russian group
Detained: Here are the latest vessels halted by US Coast Guard safety inspectors Seaworld tanker accused of having main engine control problems for months
Done deal: Poten parent BGC confirms purchase of Oil Brokerage owners Transaction tipped in TradeWinds still poses unanswered questions about tanker brokerage business
Genco Shipping eyes a larger dividend, and Deutsche Bank floats a number Analyst Chris Robertson breaks down his earnings expectations for dry bulk owners
Conflicts and climate catastrophes place trade growth projections on tenterhooks, Unctad says UN trade outfit says Panama Canal and Red Sea disruptions could be a preview of what's to come
Crude tanker rates rise amid record US exports to Rotterdam Kpler notes new all-time high as the Brent-WTI price spread widened
Gebab and Embiricos taking money off the container ship table with vessel sales German owner bags $45m from boxship brace, while Greek owner's cellular fleet is down to a single vessel
Pangaea Logistics sets date for shareholder vote on MT Maritime acquisition Equity analyst has come to appreciate value proposition from view of private MTM
EU hands Reach Subsea $15m to develop remotely operated offshore ships Norwegian owner banking grant to scale its plans for emissions-cutting fleet
Restored Libyan oil volumes push aframax tanker activity to highest level since May Broker BRS says November could bring a dip as market normalises
Carsten Mortensen 'absolutely focused on finding investments' after Dee4 double hire Danish private equity firm grabs Nordsund co-founders as new partners
New Dubai ship manager takes over sanctioned former Sovcomflot LNG carriers Matias Ship Management controls three gas ships once listed as owned by Russian group
Shipowners and tech firms scoop UK government funding for innovation projects BAR Technologies, GT Wings and Smart Green Shipping strengthen route and vessel performance optimisation solutions
V.Ships appoints Onassis veteran Dimitris Patrikios as new head of Greek office Shipping veteran is best known as a long-standing senior executive at famous Greek shipping name
Evangelos Marinakis grows offshore orderbook to 10 vessels Norwegian group to supply electrical systems for PSVs being built in China for Greek owner
CMA CGM strikes biomethane deal to help fuel $18bn green fleet Agreement to help fuel carrier's LNG fleet gets €100m of initial funding
DNB launches 'missing link' loans for shipping's green transition Global head of shipping Christos Tsakonas expects more transition loans by year-end
Shipowners and tech firms scoop British government funding for innovation projects BAR Technologies, GT Wings and Smart Green Shipping strengthen route and vessel performance optimisation solutions
Maersk shares defy wider stock market pressure after 'robust' profit forecast Arctic Securities believes update should re-rate the stock
Maersk-chartered Costamare ship sails towards Dubai with no sign of claimed Houthi attack Incident appears to be among many in which Houthis claimed an operation beyond Red Sea and Gulf of Aden that has proved unfounded
Cargo ship capsized in clash with Greek bulker damaged by Houthi missile in January Supramax involved in collision with Princess Jessica in Senegal
Renewable energy group Drax invests in tech firm planning sail system on nuclear waste carrier UK firm announces stake in compatriot Smart Green Shipping and plans to fit kit on chartered vessel
Four crew members missing after Russian cargo ship capsizes Three seafarers rescued after incident involving the Grigory Lovtsov
Global Centre for Maritime Decarbonisation signs first South Korean shipyard partner Pair to work together on alternative fuels, energy efficiency technologies and onboard carbon capture
Navigazione Montanari buys Socatra tanker through new Italian loan Italian owner builds up MR1 fleet with 2011 vessel
Diana Shipping strikes $80m refinance deal with Danish Ship Finance Greek owner says refinancing shows its dedication to improving financial structure
DNB shipping loan book dips slightly in third quarter as overall profit climbs Loan losses from corporate customers fall
Anthony Comninos-backed Horizon Tankers boosts newbuilding orderbook Greek owner exercises options for two more 50,000-dwt product carriers
Roaring volume drives record for Port of Los Angeles An early peak shipping season, strong economy and resilient consumer spending boosted container volume to a record quarter at the Port of Los Angeles.
Containers lagged ocean shipping gains in 2023, UN report finds A record number of port calls by container ships presages higher forecast growth for the sector, according to a U.N. report.
DHL Express breaks ground on maintenance center at Cincinnati airport DHL Express says a new aircraft maintenance hangar and extra parking positions now under construction will minimize the amount of time aircraft are out of service and increase capacity at its U.S. superhub near Cincinnati.
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