Dali owner and operator will pay $102M to settle U.S. claim The U.S. Department of Justice Department has announced that Grace Ocean Private Limited and Synergy Marine Private Limited, the Singaporean corporations that owned and operated the containership Dali, have agreed to pay
Grain de Sail plans to build 200 TEU pure sail containership Wind-assisted propulsion systems (WAPS) have been a lot in the news lately as more owners add hard sails or rotors to ships to meet major charterers' needs to decarbonize. French coffee roaster
K-Line to start trials of Inmarsat's NexusWave Japanese shipping giant K-Line (Kawasaki Kisen Kaisha Ltd.) said today that it is to trial Inmarsat Maritime's new network service NexusWave on its fleet, with trials beginning this month. Launched in May
China's self-developed LNG container ship delivered in Dalian Dalian Shipbuilding Industry Co., Ltd. announced the delivery of China's self-developed liquefied natural gas (LNG) dual-fuel container vessel on 21 October in Dalian. Constructed for the world's largest container line MSC, the ship spans 366 meters in length, 51 meters in width, and has a molded depth of 30.2 meters, with a design draft of 14.5 meters. It boasts a capacity of carrying 16,044 sta
Asia's Dominance: Box Throughput and Investments at the World's Busiest Ports In 2023, the top five ports in terms of container throughput were all located in Asia, underscoring the region's dominance in the shipping industry. This geographic concentration highlights Asia's growing influence and strategic importance in the maritime sector. This content is locked Select a CN Premium Subscription Package To Unlock The Content! If you liked this post, please consider donating
Hapag-Lloyd applies new peak season surcharge from Latin America to Europe German container line Hapag-Lloyd has announced a new peak season surcharge (PSS) from the West Coast of Latin America, Central America and the Caribbean to North Europe and the Mediterranean. The surcharge of US$900 per reefer container will be applicable to all sailings starting on 11 November and will be valid until further notice. The company noted the implementation date for Colombia, Ecuado
CCS unveils world's first five-in-one, foldable container Compact Container Systems (CCS) has launched the SeaFold HC 40' container, the world's first five-in-one, foldable shipping container to improve operating inefficiencies, reduce unnecessary container movements, and reduce carbon emissions throughout the transportation and logistics supply chain. With over 20% of all ISO containers returning to their port of origin empty, the SeaFold 40' has the p
Med ports amid Red Sea crisis: The two sides of the same coin The Red Sea crisis has significantly impacted the global shipping industry with the Mediterranean ports experiencing various effects from the ongoing disruption. Container News carried out a comparative analysis of the major Mediterranean ports of Tanger Med (Morocco), Piraeus (Greece), Port Said (Egypt) and Valencia (Spain), aiming to highlight the level of impact and resilience amid the continu
ShibataFenderTeam provides DP World Callao with fender systems The Port of Callao in Lima, Peru has seen its DP World-operated South Terminal transformed in recent years with the construction of Muelle del Bicentenario. The addition of 400 meters to the terminal has extended its total length to 1,050 meters, making it the longest in the country. This expansion allows the South Terminal to service up to three vessels simultaneously, including two vessels of u
HMM acquires more than 112,000 containers after lease amendment South Korea's flagship carrier HMM will take over more than 112,000 containers that it originally had on operating lease from state-controlled financial institution Korea Ocean Business Corporation (KOBC). This content is locked Select a CN Premium Subscription Package To Unlock The Content! Martina Li Asia Correspondent If you liked this post, please consider donating The post appeared first on
OOCL signs charter deals with Seaspan for six new 13,000 TEU boxships COSCO-owned ocean carrier Orient Overseas Container Lines (OOCL) entered into charter agreements with Seaspan for six brand new 13,000 TEU container ships for a maximum aggregate amount of US$1.6 billion (RMB11.2 billion). The newbuildings are expected to be delivered between the fourth quarter of 2026 and the first quarter of 2028 and are to be chartered for 15 years from delivery. (top left) We
Mexico Factor: How US-China Trade Tensions are Reshaping North America Logistics The landscape of US-China trade has undergone a dramatic transformation since 2018, when tariff policies implemented during the Trump administration and maintained under Biden began reshaping global supply chains. With these policies affecting over US$380 billion worth of trade and resulting in US$79 billion in tariffs, businesses have been forced to seek creative solutions to maintain their comp
"K" Line to trial Inmarsat Maritime's new bonded network service on its fleet Japan-headquartered transport company Kawasaki Kisen Kaisha ("K" Line) will conduct a trial of Inmarsat Maritime's new bonded network service NexusWave on its fleet. NexusWave seamlessly integrates multiple high-speed networks in real time to enable high-speed, always-on ship-to-shore communications, thereby enhancing digitalization of ship operation and environmental response, as well as the wel
Port of Long Beach secures US$2.6 million federal grant to enhance cybersecurity, drone detection and cargo flow The Port of Long Beach (POLB) has been awarded more than US$2.6 million by the US Department of Homeland Security's Federal Emergency Management Agency (FEMA) to protect critical infrastructure and ensure the safe movement of trade. As the nation's third-largest recipient of the agency's Port Security Grant Program, POLB will invest the funding into strengthening cybersecurity, improving drone de
Red Sea crisis causes "vessel bunching" to hit pandemic peak levels In its latest analysis, Sea-Intelligence has dived into the "vessel bunching" phenomenon, which is defined as the number of sailings in a given week in excess of the number of weekly services. The Danish maritime data analysis firm explains, "From a network design perspective, for every weekly deep-sea liner service, one vessel would be scheduled to depart from an origin region each week. However
COSCO invests US$110 million in Thai container terminals COSCO SHIPPING Ports has acquired 12.5% and 30% equity stakes in Thai Laemchabang Terminal (TLT) and Hutchison Laemchabang Terminal (HLT), respectively. The signing ceremony took place in Vietnam on 23 October. The consideration for the acquisition is approximately US$110 million, which includes Berth A2 in TLT, Berths A3, C1-C2 and D1-D3 in HLT, where D1-D3 is partly under construction. The tota
The Impact of Sustainable Containers on the Industry Photo by Tom on Pexels Sustainability is now a priority focus in most sectors. More businesses are actively looking for ways of reducing their footprint. The storage and logistics sector is one notable area of change, where previous containers have always contributed to waste and pollution. This growing demand has led to the introduction of sustainable options. These solutions are designed to min
3 Professional Development Paths for Marketers: Improve Your Career with Strategic Choices Source: Unsplash Full-time marketers face significant challenges in staying relevant. Online marketing evolves fast, and they have to answer that growth. A study revealed that 87% of marketers consider professional development crucial. However, only 29% are satisfied with their current skill opportunities. This article delves into three professional development paths. The material aligns with the
Comprehensive Guide to Throne and Liberty: Mastering Weapons, Skills, and Builds In this review, we go into the fascinating world of Throne and Liberty. Your character's power is determined by the weapons and skills you select. We'll review the various types of weapons available, along with different builds and strategies tailored to all kinds of playstyles. By the way, a lot of players use Throne and Liberty boosting to make the game easier. However, there's also a unique pl
Performance Shipping fixes leaseback deal for second LR2 newbuild Greece's Performance Shipping has agreed a new sale and leaseback deal for one of its newbuilds. The Nasdaq-listed tanker owner and operator of seven aframaxes on the water is selling its LNG-ready scrubber-fitted LR2 product and crude oil carrier to an unnamed counterparty in Asia and chartering it back for 10 years on a bareboat ...
Wood secures work on Singapore FSRU UK consulting and engineering firm Wood has been awarded an FEED contract by the Singapore LNG Corporation (SLNG) for the development of Singapore's second LNG terminal. The expansion with the second terminal will add an estimated five million tonnes per annum of additional capacity. The new terminal will also secure the country's growing energy needs ...
DDW Offshore scores double AHTS deal in Australia Norway's DDW Offshore, a business unit of Oslo-listed oil services investment company Akastor, has won new contracts for two anchor handling tug supply (AHTS) vessels in Australia. The contracts with an international oil company involve the 2010-built Skandi Peregrino and the 2012-built Skandi Atlantic, commencing on January 1, 2025, and March 1, 2025, respectively. Both ...
BlackRock sells GasLog stake to Singapore's GIC US investment giant BlackRock is selling out of Greek liquefied natural gas (LNG) shipping player GasLog. A fund managed by the New York-based firm's Global Infrastructure Partners (GIP) has struck a deal for Singaporean sovereign wealth fund GIC to take over its 45% stake in the Peter Livanos-backed GasLog for an undisclosed sum. The deal ...
COSCO buys into Thailand's largest port COSCO Shipping Ports has bought into Thailand's largest port, buying stakes from Hutchison Ports at Laem Chabang. China's largest maritime conglomerate is spending $110m to take 12.5% and 30% equity stakes in Thai Laemchabang Terminal (TLT) and Hutchison Laemchabang Terminal (HLT), respectively, the two largest terminals at the port. The acquisition covers berth A2 in ...
Somali pirates head back to sea International shipping has been warned that pirates from Somalia are likely back hunting for targets in the Indian Ocean. With monsoon season coming to a close, 13 armed pirates have left from Ceel Huur near Hobyo and are in the Indian Ocean, according to both the European Union's naval force in the region as well ...
TS Lines moves to raise up to $145m in Hong Kong IPO Taiwanese carrier TS Lines launched its initial public offering in Hong Kong Thursday, looking to raise up to about $145m. The intra-Asia feeder specialist is floating nearly 251m shares at HK$3.50 to HK$4.50 apiece, according to a Thursday filing, of which 10% are being offered publicly in Hong Kong and 90% to international investors. TS ...
Chinese car parts maker moves into shipbuilding Chinese car parts manufacturer Xingmin Intelligent Transportation Systems (Xingmin ITS) is expanding into the shipbuilding business by acquiring a 30% stake in Zhejiang East Coast Shipbuilding. The Shenzhen-listed company, which mainly produces steel wheels for cars and trucks, is paying RMB360m ($50.5m) for its move on the subsidiary of Yangfan Group, which also controls Zhoushan ...
GTT wins service contract for Eni's FLNG in Mozambique LNG containment system leader GTT has been awarded a service contract on Eni's Coral Sul FLNG vessel off Mozambique. Eni is the operator of the Coral Sul FLNG project on behalf of Area 4 partners ExxonMobil, CNPC, Galp, KOGAS, and Mozambican national company ENH. The FLNG is located in the Rovuma Basin off the coast ...
Chinaland enters cape segment Shanghai-headquartered Chinaland has moved into the cape segment with two purchases, joining a string of other Chinese owners, putting its trust in sustained growth for vintage giants. Earlier this month, brokers reported that Taiwanese owner CMT, a pure cape player, sealed its first sale in over a decade, offloading the 19-year-old China Peace for around $20m. Now, ...
German firm to invest $4.6bn in Vietnamese offshore wind project German renewable energy developer PNE has announced that it would be investing $4.6bn in an offshore wind project in Vietnam's Binh Dinh province. The project has a capacity of 2GW, divided into three phases with each phase resulting in an investment of over $1.5bn. The Binh Dinh province has large offshore wind potential due to ...
GE Vernova to remove number of blades from stricken Vineyard Wind GE Vernova has revealed that it would remove several blades from the Vineyard Wind project after completing quality checks of all blades. The quality check was part of the Incident and Response and Action Plan announced in August following an incident in July in which a blade suffered damage and island beaches were strewn with ...
Transformation of Constanta port accelerates One of Europe's fast growing ports is in transformation mode with dredging, new facilities and greater rail link projects all underway. When Russia backed out of the UN-backed Black Sea Grain Initiative in mid-July last year Ukraine was forced to shift much more of its exports via the Danube and route shipments via the very ...
French firm debuts sailing vessel capable of carrying 200 teu Grain de Sail's newest project, the Grain de Sail III sailing ship, is expected to set sail in 2027 and will be the largest vessel in the fleet, measuring 110 m in length and able to carry 200 teu, emitting less than 2 grams of CO2 per ton transported per km traveled. The ship should ...
Why I'm backing this country to become a major crewing force Carl Martin Faannessen, the CEO of Noatun Maritime, on the potential for Kenya to become a seafaring hub. Once upon a time there was a crewing company in one of the main hubs for crewing. It was getting requests from Chinese owners to supply ratings, which made little sense considering the number of Chinese seafarers. ...
Baltimore bridge case will last years but key decision is just days away The US federal government settled its suit for costs from the Baltimore bridge disaster, but the legal action has just...
Daily Briefing Ceres I arrives in China as mystery deepens over marine insurer liability | P&I rate hikes heading up, but pace...
Ceres I arrives in China as mystery deepens over marine insurer liability The accident on July 19 left both tankers on fire and seriously damaged, and whether insurers will pay out is...
Andrews defends Steamship Mutual pricing strategy in face of broker criticism Move to put premiums up by 5% and then give back more than double that is the right one for...
Singapore sovereign fund GIC agrees to buy BlackRock stake in GasLog New investor's long-term investment horizon 'aligns' with GasLog values, says shipowner
Hapag-Lloyd on track to earn $2.6bn more than expected this year Germany's Hapag-Lloyd posted 3Q24 ebit of $1.1bn and ebitda of $1.6bn. New full-year guidance implies the fourth quarter will be...
Shanghai prepares insurance and legal services for green shipping A specialised clause for electric vessels has been created, while products for alternative fuel-powered ships are in preparation
Costamare shuffles management of bulker operating platform Long focused on the container sector, the US-listed owner has built up a significant bulker operating business since 2022, following...
Fire safety, radar and navigation problems on wind power's long to-do list Wind-assisted propulsion systems will need to resolve a raft of technical problems if they are to go mainstream
P&I rate hikes heading up, but pace of increase set to slow 'First-class owners with good records are already paying enough,' argues Tysers
Höegh Autoliners chief unfazed by deluge of vehicle carrier newbuildings Newbuilding deliveries are easing pressure on capacity and filling in gaps following a decade of underinvestment, says Höegh Autoliners chief...
Maersk e-methanol supplier among EU grant winners Maersk's e-methanol supplier European Energy and Dutch shortsea company Samskip are among the grant winners from the EU's Innovation Fund
Black Sea attacks threaten global food security, says UK prime minister Ukraine's grain corridor has helped to keep cereal prices 15% lower than last year - but if attacks continue, prices would...
Back to the future: food company orders sail-powered containership The French company exports wine to the US and imports chocolate and coffee from Central America and the Caribbean, all...
Belgium hopes emissions sensor will improve North Sea emissions The sensor has been designed by the Royal Belgian Institute for Space Aeronomy to monitor ships' emissions as they pass...
The week in bunkers: Singapore replaces Rotterdam as top biodiesel hub Singapore replaced Rotterdam as top biodiesel bunker hub despite Dutch subsidies, as regulatory certainty and falling prices boosted demand in...
Rerouting via Cape of Good Hope increases insurance risk, Gard warns Swell height and maximum wave height are both higher off South Africa than in the Arabian Sea
Cosco Shipping Ports gains long-sought access to Thailand's key Laem Chabang terminals Deals are giving CSP a presence in Southeast Asia, where booming trade and logistics demand are being fuelled by global...
Montreal dockworkers plan one-day port strike on Sunday The Port of Montreal's maritime employers warn that even a brief strike will add to shipper uncertainty over routing cargo through the port given other recent job actions taken by the union.
UP pins performance slip on communication gap over USWC cargo surge UP's CEO Jim Vena, during the railroad's Q3 earnings call, appeared to take a shot at ocean carriers for not informing landside stakeholders sooner about the heavy volumes that landed along the West Coast in recent months.
BC longshore foremen bargained in bad faith: Canada labor board The ruling from the Canada Industrial Relations Board said union longshore foremen moved too late in raising the issue of automation's impact on jobs at the Port of Vancouver.
Hapag-Lloyd raises full-year forecast on 'stronger than expected' Q3 The first signs of solid third-quarter performances are being reported by ocean carriers, and with greater visibility over the rest of the year they are ramping up their profitability expectations.
US port automation holds promise, but hardly a sure shot A report from the US Governmental Accountability Office shows the possible -- but narrow -- path for adoption of automation at US ports as maritime employers and longshore labor along the East and Gulf coasts attempt to hammer out a new master contract.
'Impasse': Montreal dockworkers poised to strike again as negotiations break down Employers at Eastern Canada's busiest port say labour uncertainty is hurting its reputation
BlackRock lifts stakes in two energy shipping stocks despite GasLog exit Larry Fink-led investment giant adds shares in Teekay Tankers and Golar LNG
Crude exports rise at Saudi VLCC port on Red Sea as pipeline volumes dodge Houthi treat Hormuz alternative provides a way to avoid Bab el Mandeb Strait
Performance Shipping secures sale-and-leaseback of second tanker newbuilding Deal with an Asian firm helps the shipowner fund its orderbook
Former Chevron Shipping chief clocks on as Dorian LPG director Connecticut owner expands board to eight with appointment
Houthis or harsh weather? Insurance claims spike after ships rerouted to avoid Red Sea danger zone Norway's Gard says container ships and car carriers at risk from Cape of Good Hope disruption
New Fortress Energy appoints Andrew Dete as its first president Economist and former Goldman Sachs VP steps up at US LNG player
Shipowners shoulder higher premiums as insurance renewal round kicks off Steamship Mutual announces general increase for 2025 alongside big return of funds to members
Pioneering pool reaches 200 ships as Van Weelde bulker fleet opts in Finnish sustainability start-up expanding rapidly as deadline approaches
Planes, trains and wealth management: How a top banker remains active when shipping deals run dry Streetwise newsletter catches up with a shipping dealmaker amid a dearth of deals
Boost for tankers as South Sudan restarts crude exports disrupted by civil war Dar crude pipeline back in action after long outage
Russian attacks on Ukraine could hinder dry bulk market If safety is not improved, 1% of global dry bulk exports could be impacted
Dorian LPG holds dividend firm as top line heads towards two-year low US-listed owner was affected by a slump in VLGC rates in the last quarter
BlackRock sells major stake in GasLog as Singapore's GIC fund steps in Deal comes after months of speculation about the investor seeking to divest its interest in the Livanos and Onassis-backed firm
Hapag-Lloyd hikes 2024 profit forecasts as Red Sea crisis fuels bottom line growth German carrier raises earnings forecast after stronger demand and improved rates
They're in: Clarksons crowns the winners of dry cargo Dragon's Den day Teams of brokers competed to impress judges during dry cargo diploma session in London
TS Lines files $145m Hong Kong IPO to raise cash for newbuilding orderbook Liner operator launches flotation to help fund 7,000-teu newbuildings and charters
Oldendorff linked to $50m double sale as bulker asset values slide extends German giant reportedly finds new buyers for ships it failed to offload in June
Fire-hit shadow fleet VLCC returns to China for first time since collision with Hafnia ship Collision near Singapore Strait raised concerns over regulation of vessels hauling sanctioned cargoes
Trafigura buys into Meroil tank storage venture after Lukoil exit Trader takes 50% stake in Barcelona business from Spanish oil company
Wine and chocolate firm ordering third cargo sailing ship for Atlantic trade Grain de Sail plans to launch 200-teu vessel in 2027
Over 100 LNG newbuildings set to be fitted with MAN's now culled ME-GA engine Designer says it will honour all service contracts and 'work on updates to resolve any potential technical issues'
Maritime growth boosts Kongsberg profit as newbuilding orders surge Kongsberg Maritime increased revenue by 30% in third quarter
Are Somali pirates on the prowl again? EU navy checks suspicious moves in Indian Ocean Operation Atalanta urges vessels in the region to 'proceed with caution'
Hoegh Autoliners opens the door to chartering vessels in strategy about-face With car carrier capacity tough to come by, Oslo outfit might look to charter market
How $1.6bn Danske Bank fund is placing bets now a rising tide no longer lifts all shipping stocks Fund bets on BW LPG, Cadeler, Hafnia and Wallenius Wilhelmsen
AG&P LNG agrees to buy Australian terminal developer Venice Energy Expansionist-minded company outlines new FSRU-based plan for stalled project
Tanker owner Altera wins $243m grant for Europe's first large carbon shipping and storage project Company plans to order three large CO2 carriers
Hoegh Autoliners lines up $245m dividend as profit races and CFO shifts post Chief financial officer also departs for greater role in Manila
China's top wheel maker Xingmin ITS breaks into shipbuilding Shenzhen-listed company has acquired a 30% stake in Yangfan's Zhejiang East Coast Shipbuilding
Swedish lender SEB's shipping loan book drops in third quarter Net profit remains stable and CEO Johan Torgeby hails 'robust result'
Taxes, topknots and Nobu Su: Nine observations from 'shipping's Davos' Change is on the agenda as the key drivers of shipping today - disruption, complexity and the green transition - came under close scrutiny at the Global Maritime Forum's annual summit in Tokyo
Pareto Bank's shipping loan book increases with offshore as it sees flat lending in fourth quarter Norwegian lender expects weaker oil price to affect subsea space
China sending out bearish signals on LNG demand, Poten says Broker and consultant notes that freight rates have been falling sharply despite canals constraints
Pacific International Lines poised to spend over $700m on a series of new container ships PIL is said to have inked a letter of intent with Hudong-Zhonghua for five LNG dual-fuelled vessels
Oceaneering suffers offshore vessel repair costs and downtime amid profit gains Engineering firm's offshore project group sees operating income and revenue pull back
US tanker stocks are hammered, but they're not alone on a trading day to forget Other shipping shares also lose ground in broader market sell-off on interest rate concerns
UPS forecasts softer peak shipping season UPS's financial performance bounced back in the third quarter, but it flagged macroeconomic weakness and in-store shopping as potential headwinds for fourth-quarter volumes.
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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