Attack on Maersk Detroit underscores continued Houthi threat This morning brought news from UKMTO of an incident 50 nautical miles south of Al Mukha, Yemen, in which the master of a ship reported an explosion about 100 meters off the
Barbara Pickering to succeed Mark Ross as Chevron Shipping president Barbara Pickering, currently vice president of operations at Chevron Shipping Company, is to be the next president of the company succeeding Mark Ross, who has elected to retire effective May 1, 2024.
First fully electric tugboat in U.S. delivered to Crowley Crowley has accepted delivery of eWolf, the first all-electric, ship assist harbor tugboat in the U.S., a milestone advancing the company's commitment to sustainability and decarbonization. The tugboat, which was designed by Crowley's
TTB 2024: Navigating today's barge rates Accurately and quickly estimating the costs of barge rates can be difficult for a multitude of reasons. To help inland and coastal shippers better understand today's market, Jason Aristides, CEO of OpenTug,
Red Sea crisis expected to spike vessel emissions As the Red Sea conflict intensifies, it becomes evident that we might be in it for the long haul, forcing shipping lines into round-of-Africa routings for the foreseeable future with a direct consequence of an increase in CO2 emissions, according to Sea-Intelligence. The Danish analysts said there are three important elements to consider: Increase in emissions due to longer sailing distances Pote
THE Alliance reaffirms "unwavering cooperation" in 2024 The members of THE Alliance have published a joint release to emphasize their commitment to continue their collaboration and operations as usual in 2024. This statement comes in response to recent developments surrounding THE Alliance , after the announcement of Gemini Cooperation formation between the largest THE Alliance member Hapag-Lloyd and Maersk Line. "We wish to emphasize our unwavering c
Hapag-Lloyd implements new GRI from US West Coast to Indian Subcontinent and Middle East Hapag-Lloyd has recently announced a new General Rate Increase (GRI), effective from 1 March 2024, from US West Coast to Indian Subcontinent and Middle East. This GRI of US$200 per container will be applicable to dry fruit and nuts commodity cargo, according to the German carrier's announcement. North America West Coast includes ports of Los Angeles, Long Beach and Oakland, while Indian Subcontin
Hapag-Lloyd dismisses critics of its role in Gemini Cooperation Hapag-Lloyd has responded to suggestions that Gemini Cooperation, its imminent collaboration with Maersk Line, does not favour the German operator. In its latest report, consultancy firm Linerlytica highlighted that Hapag-Lloyd faces a disadvantage due to its fleet size of 1.98 million TEUs, which is less than half of Maersk's 4.16 million TEUs. Addressing this point, Hapag-Lloyd's spokesperson t
Dockers stop ZIM boxship from berthing in Melbourne A ship operated by ZIM Line has been held up by pro-Palestine unionists in Australia's Melbourne port for five days now. The newly built 5,504 TEU ZIM Ganges arrived in Melbourne on 19 January on its maiden voyage from Busan, South Korea. However, the Trade Unionists for Palestine, along with protesters from Free Palestine Melbourne and Disrupt Wars, have been preventing the ship from docking at
Red Sea Crisis: Xeneta forecasts freight rates to rise further in February Early indications suggest ocean freight shipping rates are set to increase further in early February amid the ongoing Red Sea crisis, according to data released by Xeneta, a leading ocean and air freight rate benchmarking and market analytics platform. The Xeneta ocean freight rate benchmarking platform calls upon more than 400 million crowdsourced data points and the latest projection is based o
Two bulkers collide off Yangtze River, 21 crewmen evacuated Twenty-one seafarers were evacuated after two bulk carriers collided off Yangtze River in China on 23 January. The incident, which happened around 3.35 am local time, saw the 2004-built 48,821 dwt bulk carrier Omega, owned by Turkish company Gamma Denizcilik Nakliyat colliding with 1997-built 46,645 dwt Mirabella. The latter vessel is operated by a Lebanese company, Safe Sea Services. Mirabella w
Asyad Ports opens Duqm container terminal Asyad Group has initiated operations at the Asyad Container Terminal - Duqm, which will be operated by Asyad Ports, the group's ports and terminals arm. According to a statement, this development is part of Asyad's expansion plans to provide integrated logistics solutions, stay ahead of global trade trends, and meet the needs of major players in the container industry. Furthermore, the Asyad Cont
HMM expands its fleet with new 13,000 TEU vessel In a significant milestone, HMM held the naming ceremony of its premier 13,000 TEU container ship HMM Garnet at the HD Hyundai Heavy Industries headquarters in Ulsan, South Korea. Underlining their commitment to expansion and environmental responsibility, HMM signed a formal contract in June 2021 with Hanwha Ocean and HD Hyundai Heavy Industries for the construction of twelve 13,000 TEU vessels (
Barbara Pickering named next president of Chevron Shipping Barbara Pickering has been selected to lead Chevron Shipping Co after president Mark Ross retires from the position he has held since 2015. Pickering, who is currently vice president of operations, will take over on May 1. She joined Chevron in 1991 as a ship charterer in London and has held positions with Chevron in ...
Bruno Chabas calls time after 12 years as CEO of SBM Offshore SBM Offshore is getting a new chief executive officer as Bruno Chabas has decided to step down after 12 years at the helm. The Dutch floater giant said Chabas will not seek a fourth mandate at the end of his current term on April 12, after which the company's current chief of operations, Øivind Tangen, ...
Rovco expands survey vessel fleet with another Glomar charter deal UK offshore contractor Rovco has strengthened its site characterisation business in a long-term charter deal with Dutch vessel operator Glomar Offshore. The 2008-built Glomar Worker has been hired for four years as the company experiences increased demand for "innovative geophysical and geotechnical survey solutions". The vessel will be converted to a dedicated geophysical survey asset ...
ABB buys weather routing firm in latest maritime tech consolidation move In a most recent move for shipping data providers, multinational tech corporation ABB has acquired the shipping business of weather and meteorological forecasting specialist DTN. ABB acquired the shipping business of DTN Europe and DTN Philippines expanding the company's offering in maritime software. The acquisition of the DTN Shipping portfolio covers vessel routing software, including ...
Europe needs $435bn investment in offshore wind grid to meet targets The European Network of Transmission System Operators for Electricity (ENTSO-E) has claimed in its review of the existing offshore grid capacity that a €400bn ($435.8bn) investment in offshore wind grids is required to meet European plans. The report, named Offshore Network Development Plans: European Offshore Network Transmission Infrastructure Needs or ONDP for short, stated that ...
Iranian boxship converted into drone carrier readies for duty To add to merchant shipping's long list of concerns surrounding the security situation in the Middle East, Iran is readying to launch its first drone carrier, the Shahdid Bagheri, a converted boxship previously called Sarvin. Splash has obtained exclusive satellite images (see below) of the ship taken by Planet Labs 10 days ago, following an ...
'Robust cooperation throughout 2024': THE Alliance members bid to quash speculation In a bid to quash rampant speculation about its future, the members of THE Alliance have issued a release today stressing that its operations will carry on as per normal for this year. It has been a week since Hapag-Lloyd shocked its liner partners by ditching THE Alliance to form the Gemini Cooperation with Maersk, ...
California port given $426m grant for offshore wind terminal construction The U.S. Department of Transportation has provided a $426.7m grant to the Humboldt Bay Harbor, Recreation, and Conservation District for the construction and maintenance of offshore wind infrastructure. The Humboldt Bay project will involve the construction of a modern marine terminal primarily for the transport, import, staging, preassembly, final assembly, launch, in-water construction, and lon
George Economou boosts position in OceanPal Greek shipping magnate George Economou has upped his stake in the Palios family-linked dry bulk player OceanPal ahead of an upcoming boardroom challenge. The latest filing with the US Securities and Exchange Commission shows Economou has picked up an additional 1% stake in the Diana Shipping spinoff via his investment vehicle Sphinx and now owns ...
Bulkers collide on Yangtze River Two bulk carriers have been involved in a collision on the Yangtze River. The incident which took place early Tuesday morning, saw the 1997-built 46,600 dwt Mirabella collide with the 2004-built 48,800 dwt Omega about 15 nautical miles north of the Yangtze River Estuary. The ships are owned by Safe Sea Services of Lebanon and ...
Evergreen and Yang Ming in discussions for multiple feeder orders on home soil Early delivery slots in Asia are rare with one notable exception, Taiwan. CSBC, the island's top shipbuilder, still has space to deliver ships as soon as next year, and Taiwan's top two lines, Evergreen and Yang Ming, are in discussions for a number of feeder ships at the yard, whose facilities include one of the ...
Democratic Republic of the Congo fares the worst in flag survey The Democratic Republic of the Congo (DRC) has been named as the worst shipping flag among more than 100 registries surveyed in an annual report compiled by the International Chamber of Shipping (ICS). The DRC is joined by Comoros, Togo and Algeria as the worst performers in the ICS's 2023/2024 Shipping Industry Flag State Performance ...
Canadian project to develop marine-based nuclear reactors moves ahead Canada's Prodigy Clean Energy is teaming up with Westinghouse Electric Company to develop nuclear power plants that can be used both at sea and on land. The two companies are designing transportable nuclear power plants featuring an eVinci microreactor from Westinghouse. According to the pair of North American companies, marine-based nuclear reactors can be beneficial ...
Not-for-profit company established for maritime mental health To meet the growing awareness of the importance of protecting mental health in the maritime industry, consultant clinical psychologist Dr Pennie Blackburn has launched Waypoint M
Maersk suspends US-flag operations in Red Sea after two ships targeted Maersk is suspending Red Sea operations for its US-flagged vessels after two ships under naval escort came under attack and...
Namibia and Mozambique bunker demand jumps amid South Africa constraints Bunker suppliers TFG Marine and Monjasa reported rising demand in Namibia, Mozambique and Mauritius, as vessels rerouting from the Red...
Containership charter rates continue to rise but overcapacity threat remains Improvements in boxship charter rates because of Red Sea diversions may not last as the containership markets face a wealth...
HCOB boosts ship finance capacity with $546m bond issue Bank now has $3bn-plus shipping book
Box shipping reaching Red Sea inflection point High rates and capacity shortages will last into February. But shippers can expect a gradual easing after Chinese New Year
Cosco Shipping Energy's 2023 profit outlook positive despite Q4 loss risk Equity analysts from China are disappointed about the last-quarter results, but remain optimistic about the longer-term prospects amid Red Sea...
P&I renewal round softest in years, brokers claim Passengership owners saving more from reduced GXL tariff than paying out in rate hikes, says Lockton PL Ferrari's Stephen Hawke
The Alliance confirms it will meet 2024 commitments Alliance members are keen to show it is steady ahead for 2024. Beyond that, however, the picture remains unclear
BAR Tech and China Merchants to make sails in China British sail designer BAR Technologies will make its WindWings hard sails in China in partnership with China Merchants Energy Tech...
Maersk suspends US-flag operations in Red Sea after two ships targeted Maersk is suspending Red Sea operations for its US-flagged vessels after two ships under naval escort came under attack and...
Namibia and Mozambique bunker demand jumps amid South Africa constraints Bunker suppliers TFG Marine and Monjasa reported rising demand in Namibia, Mozambique and Mauritius, as vessels rerouting from the Red...
Containership charter rates continue to rise but overcapacity threat remains Improvements in boxship charter rates because of Red Sea diversions may not last as the containership markets face a wealth...
HCOB boosts ship finance capacity with $546m bond issue Bank now has $3bn-plus shipping book
Box shipping reaching Red Sea inflection point High rates and capacity shortages will last into February. But shippers can expect a gradual easing after Chinese New Year
Cosco Shipping Energy's 2023 profit outlook positive despite Q4 loss risk Equity analysts from China are disappointed about the last-quarter results, but remain optimistic about the longer-term prospects amid Red Sea...
P&I renewal round softest in years, brokers claim Passengership owners saving more from reduced GXL tariff than paying out in rate hikes, says Lockton PL Ferrari's Stephen Hawke
The Alliance confirms it will meet 2024 commitments Alliance members are keen to show it is steady ahead for 2024. Beyond that, however, the picture remains unclear
BAR Tech and China Merchants to make sails in China British sail designer BAR Technologies will make its WindWings hard sails in China in partnership with China Merchants Energy Tech...
THE Alliance says it's business as usual in 2024 despite pending loss of Hapag-Lloyd The four ocean carriers in the vessel-sharing agreement have pledged to continue their "robust cooperation" until Hapag-Lloyd's departure in February 2025.
Ocean carriers slash port calls as Red Sea disruptions grow The Mediterranean and Middle East are the two regions most affected by the need for carriers to divert around southern Africa to avoid militant attacks in and around the Red Sea.
Week-long German rail strike to spill across Northern Europe An ongoing pay dispute between a German rail workers' union will see train drivers, signalers and dispatchers embarking on a strike that will have regional ramifications.
Nippon Express takes minority stake in India-based digital forwarder The digital forwarding model saw a stress test in 2023 amid faltering freight volumes and rates, but investments in early 2024 might signify staying power for the concept.
Omni Logistics, Forward Air closing in on revised merger deal After months of courtroom battles, the two companies have a redrawn merger plan that could close this week.
Port NOLA receives more federal funds for proposed container terminal The port, mostly limited to handling Panamax-size ships due to air draft restrictions, is looking to join its Gulf Coast peers in handling post-Panamax ships as early as 2025.
Asia shippers get government help to offset Red Sea disruptions, soaring costs The South Korean government is guaranteeing a certain amount of vessel capacity for small and medium shippers on services to Europe and the Mediterranean, while Vietnam is also taking steps to mitigate the impact of the Suez diversions.
Dry freight derivatives take flight as capesizes experience surprising seasonal warmth What goes up must come down - just not yet in the capesize market as Wednesday saw an unexpected 'roofer' in FFAs
Holberg launches high-yield credit fund Holberg portfolio manager wishes shipping companies issued more bonds
Freight derivatives go bananas as capesizes experience surprising seasonal warmth What goes up must come down - just not yet in the capesize market as Wednesday saw an unexpected 'roofer' in FFAs
Maersk ships in US Navy convoy forced to retreat under Houthi missile attack US subsidiary of AP Moller-Maersk is suspending voyages through Red Sea
Cyprus fuel supplier snaps up former Vitol bunker vessel Limassol fuel supplier buys vessel for domestic operations
LR2 product tanker rates close to eclipsing six figures as exports and reroutings surge Clarksons has Europe-bound LR2s earning more than $95,000 per day, while Howe Robinson says rates have passed $110,000 per day
QatarEnergy admits Red Sea diversions will hit LNG cargo scheduling But world's single largest LNG producer assures that production is 'uninterrupted'
Former Vitol vessel snapped up by Cyprus fuel supplier Limassol company buys vessel for domestic operations
World's biggest cruise ship offers hottest ticket in Miami since Lionel Messi arrived Debut of Royal Caribbean's Icon of the Seas fuels expectations of profitability
Dorian LPG sends a $41m cash dividend gift to shareholders VLGC owner declares irregular payout of $1 per share
Barbara Pickering set to step into Chevron Shipping hotseat Long-standing president Mark Ross is retiring after more than 33 years with energy major
Ship narrowly avoids UAV strike in latest Gulf of Aden attack Incident comes just days after two US-listed shipowners' vessels were hit in the same region
Chevron hires Barbara Pickering to head shipping business as Mark Ross steps down Long-standing president Ross retiring after over 33 years with energy major
Ship suffers near miss in latest Gulf of Aden attack UKMTO investigating claims of an attack south of Yemen
Tanker and VLGC owner Al Seer hit by investment loss but shipping on the up Abu Dhabi-listed company increases operating earnings after fleet expansion
Swiss Re transfers hull insurance business to Howden MGA Restructuring of its marine business comes as the market is at a turning point
KiwiRail prosecuted over ropax power failure off New Zealand Operator has faced probe lasting nearly a year
TotalEnergies Marine Fuels shortlists owners for LNG bunker newbuilding Energy major's fuelling arm seeks an LNG supply ship for the Americas
Mystery shrouds both seller and buyer of veteran supramax bulker Brokers report veteran Amarnath offloaded to European interests, but by whom?
World's second-biggest tanker fixed on five-year deal hot on heels of Euronav sale Former Euronav VLCC has been bareboated to Singapore operator after sale earlier this month to Chinese leasing company
Cooldown cargo arrives at ENI's Tango FLNG unit off Congo Karpowership's trading LNG carrier brings in commissioning volumes as offshore producer fires up floater
Pelagic flips MR tanker to capture 'unusually high' asset prices Fleet diversification means some ships will be cashed in from time to time, company explains
Digital consolidation continues as ABB snaps up weather routing firm ABB brings weather routing into portfolio of digital solutions, which now boasts 5,000 vessels
Remaining THE Alliance partners pledge 'unwavering commitment' following Hapag exit Four members to deploy additional tonnage ahead over Hapag-Lloyd's departure
Red Sea shipping disruption 'less serious than Covid', says Navios' Angeliki Frangou Greek shipowner describes Houthi crisis as 'not insignificant but solvable' problem
Torvald Klaveness and Marubeni aim for bulker expansion after 'extreme volatility' Norwegian and Japanese partners promise growth in vessel investment and earnings management for 2024
Bulker in danger of sinking after Yangtze River collision Handysize vessels were fully loaded at the time of the accident
Euronav inks VLCC newbuilding deal as it rebuilds big tanker fleet Saverys-led company is expanding its VLCC orderbook at a time other major owners are advancing newbuilding plans in the sector
Greek shipowners Diana and Alpha sell off oldest vessels as freight market cools S&P activity Weaker freight rates take a toll on secondhand activity, brokers say
Shipping bank adds €500m of lending firepower with vessel mortgage-backed bond sale HCOB carries out heavily oversubscribed 'Pfandbrief' bond issue
Dubai, the shadow fleet and a tale of vanishing tankers How Russia's war and the changing tanker market cemented city state's role as key shipping centre
Tanker caught in smuggling probe freed after 10 months as tests undermine 'Russian' oil claims Shipowner claims cargo loaded in a ship-to-ship transfer off Greece was from Azerbaijan
Seatrium adds to green finance firepower with new UOB loan Singapore repair and conversion group adds to roster of banks with new facility from top finance house
Red Sea crisis could drive car carrier rates to 'crazy' highs A tight market will only get tighter as many ships avoid the region
MISC celebrates entry into Brazilian offshore sector with naming of giant deepwater FPSO Delivery of FPSO Marechal Duque de Caxias and the VLCC Eagle Veracruz marks significant start to 2024, says group CEO
Lomar supramax sails across to new Singaporean owner after $22m sale Deal concluded in closing days of 2023 wrapped up $500m in S&P activity for UK owner
Digital freight forwarder Flexport raises $260m from existing shareholder Shopify Company says strengthening its cash position sends a strong message that is building a long-term sustainable business
Financing green retrofits is going to become more challenging in the future. Here's why Creative financing mechanisms will be needed to fund complex retrofits, industry stakeholders say
First and only VLCC newbuilding of 2024 takes a bow AET christens its LNG dual-fuelled Eagle Veracruz, but that's it for this year
Shipping fallout from Red Sea crisis spreads to product tankers The initial effect of Houthi attacks was on containerized consumer goods. The attacks are now snarling seaborne fuel flows.
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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