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MARCH 26, 2024

International trade seen rebounding in 2024 Red Sea crisis could increase emissions, end 'slow steaming': Report Baltic Exchange Market Report (22 March 2024) AD Ports Group acquires majority stake in Georgia's Tbilisi Dry Port Speed trial at 110 kmph permitted on section of EDFC after inspection CONCOR CMD assures efficient, reliable & quality services at ICD Sanathnagar Line 2023 profitability close to pre-pandemic levels 'Compilation of Frequently Asked Questions - Your Quick Guide' presented to Additional Director General of Foreign Trade Saudi Ports Authority announces King Abdul Aziz Port in Dammam becoming part of UIG service Examination Procedure of LCL cargo marked suspicious by CSD Mahindra signs MoU with Adani Total Energies, broadening EV charging infrastructure access Govt urged to lift onion exports ban Tractor exports up Pirate ship capture shows India's world class special forces: Analysts Support for 2-wheelers & 3-wheelers under e-mobility scheme CMA CGM announces upgrade to service between Jeddah and North Red Sea in partnership with Folk Maritime MOL Coastal Shipping to start concept study on large coastal ammonia carrier DNV establishes Tanker and Bulker Expert Team in China India, US announce mutually agreed solution in dispute over agricultural import measures Maersk says too early to resume Red Sea sailings DGFT notifies continuation of capping of interest subsidy for exporters in Q1FY25 Sabroom ICP launch seen opening new era in India, B'desh relations

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MARCH 26, 2024

Teamwork gets goods on track Solent rail terminal opened Making "mini freighters" play the biggest role A VP for sales in the Americas Rail sector needs planning security Tightening ties between the UAE and Africa Strengthening a site in Shenzhen Pursuing sustainability and growth UPS continues investments in Asia Pacific Princeton TMX appoints CCO Status reports with GPS A stylish New Jersey hub Oceanis analyses impact of rising rates First Ceiv Pharma certification in Puerto Rico "Curiosity of the Day" Vacad re-elects chairman of the board Expanding pallet network in East Anglia Easter week to pack a punch Digital advances to improve port efficiency

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MARCH 25, 2024

Diversions from Red Sea proving a real 'silver lining' for carriers OceanX: 'Untransformed Schenker' stands out Yang Ming unveils fleet renewal plan, but is cautious long-term Indian Customs to auction uncleared export boxes at Nhava Sheva UK cars reaching Russia - exports from ex-Soviet countries bypass sanctions If the culture of a company is defined by its leaders, Hactl is flying Shock for CMA CGM as a deputy CEO decides to quit IMO-watchers praise tentative progress on GHGs and new Arctic ECAs

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MARCH 25, 2024

Funding for Chouest icebreaker Aiviq included in FY2024 Homeland Security Appropriations Act Alaska U.S. Senators Dan Sullivan and Lisa Murkowski (both R.-Alaska) and Representative Mary Peltola (D.-Alaska) today announced that they have successfully secured federal funding for the purchase of a commercially available Icebreaker MEPC 81: A global carbon tax on shipping is getting closer As IMO's MEPC 81 was going on in London last week, ABS Chairman and CEO Christopher J. Wiernicki was telling a session of the CERAWeek energy conference in Houston that a universal, Strategic inks agreement to develop novel CTV using SES technology Singapore shipbuilder Strategic Marine has signed an agreement with Norwegian ship designer ESNA (Espeland and Skomedal Naval Architects) to develop an offshore wind crew transfer vessel using an SES (surface effect ship) Houthi missile hits Chinese owned tanker Huang Pu Casting more doubts on reports that the Houthis have done sort of a deal to not target Chinese (or Russian) ships, the Iranian-backed terrorist group on March 23 launched four anti-ship ballistic Ingram Marine christens three new towboats Earlier this month, Ingram Marine Group, Nashville, Tenn., held a christening ceremony for three new vessels: the M/V Patrick L. Morton, M/V Teresa Sprouse and M/V Gary L. Holman. The towboats, built by Houma, La.-based Main Iron Svitzer plans to field test methanol-fueled MAN 175D in new tug MAN Energy Solutions and Svitzer have signed a Memorandum of Understanding (MoU) focused on developing a methanol-fueled version of the MAN 175D engine, designated the175DF-M (Dual Fuel-Methanol). The MoU targets finalization of WIMOs hosts biggest event to date The Women in Maritime Operations (WIMOs) third annual clay shoot event saw 50% more teams participate on March 21 at Providence Plantation in Rosharon, Texas, than last year. In total, 56 companies Op-Ed: How OSV shortages are driving digitalization By Damien Bertin, Business Director, Opsealog Amid the escalating demand, the industry faces offshore support vessel (OSV) shortages, many of which were scrapped or withdrawn from the market during the pandemic. The

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MARCH 25, 2024

Advanced Tactics for Protecting Your Brand's Online Reputation Your brand's reputation needs to be protected, as a person is likely to use an Internet search to get to know your company. The results that appear on the first page are of the greatest importance; using links, a person gets a first impression of the organization. A good reputation is important when your new partners, sponsors, and clients are trying to get information about you. The larger the c Bolloré Logistics Italy partners with Alha Group on LNG biofuel trucks Bolloré Logistics Italy is intensifying its dedication to sustainable practices by securing the exclusive utilization of two biofuel trucks through its partnership with Alha Group, a major player in Italy's air cargo sector. These trucks, provided by Alha Group, offer a significant reduction in carbon dioxide emissions while maintaining equivalent load capacity, mileage, and load safety compared

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MARCH 25, 2024

Victor Restis wins ruling in UK debt court battle with Newcastle United co-owner Greek shipowner Victor Restis has triumphed over Newcastle United co-owner Amanda Staveley in a London High Court dispute involving a historic debt of £3.4m ($4.3m). The UK sports financier's attempt to set aside a bankruptcy petition filed by Restis last year over allegations that she didn't pay back a multimillion-pound debt was dismissed by the ... ESNA, Strategic Marine developing surface effect CTV for offshore wind market Norwegian ship design company ESNA and Singapore-based shipbuilder Strategic Marine have signed an agreement to develop a surface effect ship crew transfer vessel (SES CTV) for offshore wind applications. The agreement is based on the two working together on three SES crew boats for oil and gas, set for completion this year. This new deal ... Wallenius Wilhelmsen adds four more options to car carrier series in China Norwegian car carrier operator Wallenius Wilhelmsen has added four more optional vessels to its series of methanol dual-fuel and ammonia-ready newbuildings in China. The Oslo-listed company has secured options for four more 9,300 ceu vessels at China Merchants Jinling Shipyard, adding to the existing four optional and eight firm newbuilds booked at the yard. Wallenius ... Rumours of Houthi truce with China and Russia fall flat with latest tanker attack Putting paid to reports last week that Chinese and Russian ships were to be given safe passage through the Red Sea by the Houthis, a Chinese tanker was attacked by missiles fired from Yemen on Saturday. A total of five missiles were aimed at the Huang Pu, a 2009-built aframax. The Chinese manned vessel, carrying ... Navios boosts LR2 orderbook in China Angeliki Frangou's Navios Maritime Partners has returned to China's Zhoushan Changhong International Shipyard for two additional aframax/LR2/ newbuilds. The deal signed at the delivery of one of the 5,300 teu containership newbuilds the New York-listed company has at Zhoushan Changhong, will now lift its LR2 orderbook at the yard to six vessels. Although brokers are ... World's first ammonia bunkering terminal to be built in Norway The Norwegian Directorate for Civil Protection has given its approval to the construction of the planned ammonia bunkering facility at the Fjord Base in Florø, Norway. The planned terminal is part of Yara Clean Ammonia and Azane's efforts to make low-emission ammonia a common fuel for shipping. Back in 2022, Yara International and Azane struck ... Geneva Dry Dialogues: Marfin Management Wind propulsion adoption will gain greater traction this year as data from trials make a convincing investment argument. That's the point of view of Alex Albertini, CEO of Monaco-based Marfin Management, an operator in the handy and supramax space, and panellist in the upcoming dry decarbonisation session on day two at May's Geneva Dry conference. ... Cyan Renewables makes takeover offer for MMA Offshore Singapore-based offshore wind vessel pure-play Cyan Renewables has made an offer to buy 100% of shares in Perth-based OSV operator MMA Offshore. Cyan, a subsidiary of Cyan Renewables, offered to buy stakes in the Australian company for AUD 2.60 ($1.7) per share. The takeover scheme values MMA's equity at approximately AUD 1.03bn ($671.4m), on a ... Sinokor takes huge profit from newcastlemax sales Sinokor Merchant Marine of South Korea has sold three newcastlemaxes to compatriot Pan Ocean. Sinokor has pocketed $213m from the sale of three 2020-delivered sister ships, the 208,000 dwt Atlantic Dragon, Atlantic Lion and Atlantic Tiger. Sinokor ordered the ships back in 2018 for $51m each and has managed to sell them on for $71m ... Global greenhouse gas levy likely in 2027 The 81st meeting of the Maritime Environment Protection Committee (MEPC) wrapped up at the International Maritime Organization (IMO) last week with a greenhouse gas (GHG) levy now likely to be introduced by 2027. According to a read-out from UMAS, London-based watchers of green shipping regulation, there was positive momentum built at the meeting, with an ...

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MARCH 25, 2024

Shipping welcomes 'genuine' MEPC progress Industry groups hailed the IMO's work laying the foundations of a carbon price and green fuel standard, as well as... Somali piracy is back and a show of force from India may not be enough to stop it There are four known pirate groups stalking the Indian Ocean for ships to hijack and 22 Indian naval assets trying... Dark fleet suezmax and fire-damaged boxship sold for recycling A 24-year-old suezmax tanker, which changed name and flag multiple times, has been sold to Indian recyclers. Meanwhile, a Danaos-owned... The week in charts: Red Sea rerouting hits Med hubs | Novorossiysk-bound ships detour | Fresh flag of choice for Russia-calling dark fleet | ONE outlines growth plan Red Sea crisis causes drop in eastern Mediterranean vessel calls heightened drone threat prompts Black Sea diversions, while Antigua and... 'OSRA 2.0' passes US House as lawmakers seek more checks on China The US House of Representatives voted overwhelmingly in favour of a bill dubbed 'OSRA 2.0' that, among others, gives the... Australia's ports face more protests Pro-Palestine protestors have caused further road closures at terminals in Melbourne and Sydney. But Zim-operated vessel is serving Asia-Australia trade... Wah Kwong takes stake in CSSC's maritime tech unit Shenzhen-based tech company Zhendui Industry Artificial Intelligence provides intelligent systems and data service for maritime enterprises Swedish Club combined ratio steady on last time round Strong focus on compliance and regulatory requirements, says Nordberg Yang Ming cautious on market outlook amid newbuild inflow and geopolitical uncertainty Taiwanese carrier says The Alliance has begun sending ships back through the Panama Canal as drought conditions there improve. However... The week in newbuildings: Greek and UK shipowners pen LR2 orders in China Orders for four bulkers, two gas carriers, three offshore vessels and 13 tankers recorded in past week Marine insurers told 'standing still is not an option' in face of industry disruption Changing supply chain practices hold 'significant implications' for seaborne transportation, London conference hears MSC to acquire French logistics operator The latest stage of logistics consolidation sees MSC subsidiary SAS acquire French outfit. Deal is expected to close this year Daily Briefing High spirits and hard questions in the looming IMO green levy debate | Misdeclaration of containers undermines IMO efforts to...

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MARCH 25, 2024

Vancouver hit by new round of rail congestion amid early year import surge The port is struggling to relieve excessive rail container dwells on its docks caused by an unexpected jump in imports and what some stakeholders say is an inadequate supply of railcars. New Maersk facility in Tijuana taps into growing low-value Mexico-US trade Maersk is the first container line to publicly promote a direct pipeline of ocean freight to what's known as Section 321 shipments, though the model has been used for years by freight forwarders. Red Sea diversions keep shipping emissions at 'dangerously high' levels: report Meeting interim emissions benchmarks will be increasingly difficult unless decisive policy action is taken, according to a new report from consultancy AlixPartners. MSC unit secures takeover of French forwarder Clasquin The acquisition will add significant volume of air and ocean cargo to the MSC subsidiary and extend its reach into European markets.

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MARCH 25, 2024

Sinokor sets new benchmark price with sale of newcastlemax trio The vessels - all named after wild beasts - are said to have achieved a ferocious price Shipowner Victor Restis triumphs in court debt battle with Newcastle United co-owner Amanda Staveley London High Court rules Greek shipowner is owed $4.4m in row over loan arranged in 2008 Soaring capesize prices add shine to Star Bulk deal for Eagle investors Clarksons says acquisition now valued at $836m should prove extra appealing to Eagle Bulk voters Fincantieri, RINA and Eni forge alliance to help maritime sector hit net-zero goals Partners pledge to work together on medium to long-term decarbonisation projects Victor Restis triumphs in court debt battle with Newcastle United co-owner Amanda Staveley London High Court rules Greek shipowner is owed $4.4m in row over loan arranged in 2008 Can the US economy rescue container shipping in 2024? Strong container growth is anticipated as consumer spending on goods remains robust Hafnia finance chief Van Echtelt pays $3,600 for shares worth $1.6m in option play Steep share price since 2021 puts tanker executive firmly in the money 'Money is out there': How shipowners can play their cards right in market awash with cash German firm says banks have decreased pricing to maintain and grow portfolio size Castor Maritime aims to keep Nasdaq happy with reverse stock split as clock ticks Cyprus-based owner running out of time to regain compliance with minimum share price Product tanker rates some of the highest in three decades LR2s stay hot while MRs make gains despite diverging geographic fortunes Turkish carrier bags feeders from Greek and German owners Medkon continues fleet expansion with acquisition of feeder brace Robert Uggla warns 'massive orderbooks' will weigh heavily on container freight rates Results slump after record 2022 for Demark's AP Moller Group Euronav defends 'substantial' trading volumes as buybacks shrink free float Belgian tanker owner admits number of shares still beyond the Saverys family's control is 'limited' in percentage terms CMA CGM partners with Saudi newcomer for Red Sea service Liner start-up charters boxship after agreeing expanded service with French carrier Seapeak reviews its options for three redelivering steam turbine LNG carriers Trio of older vessels coming off charters catches the eye among a larger group of six ships running off term business WFW builds shipping team with partners from Stephenson Harwood and Ince UK-headquartered law firm adds to expertise in London and Dubai Shipowner George Procopiou inks eight suezmax tankers amid $3.8bn newbuilding spree Greek player has 66 tanker and bulk carrier newbuildings on order German export bank KfW IPEX-Bank boosts shipping lending to €14.7bn Frankfurt bank hikes maritime activity in year containing multiple crises Marinakis welcomes Sunak to City Ground to kick off sports health initiative UK prime minister visits shipping tycoon's Nottingham Forest to launch 'Vision for Sport' Wallenius Wilhelmsen newbuilding coup secures earlier delivery for latest dual-fuel quartet Norwegian owner cautious on committing to more firm vessels, but order spree could hit 16 ships Wavelength podcast: Norwegian shipowners feel heat from the taxman This week's Wavelength Podcast from the TradeWinds editorial team Clarksons reaches out to young carers and patients through Renaissance charity Head of human resources Harriet Oliver visited female-focused event to help inspire 'journey of renewal' Saverys family tightens grip on Euronav as it buys up $73m in stock Shipowner has board authorisation to acquire 10m shares until the end of June All Indian refineries stop taking oil on Sovcomflot tankers Move follows decision by Reliance to halt deliveries last week Navios lifts LR2 tanker newbuilding tally at Chinese shipbuilder Zhoushan Changhong Greek company has 12 aframax product carriers on order PSA International sees profit fall amid 'challenging market conditions' Company says it will continue to focus on expanding its core port business despite uncertainty in global trade First suezmax demo deal for 2024 done as tanker with chequered past heads for the beach Jal Gamini appears to have spent final years of its life shuttling between Malaysian anchorages and ports in China Cyan Renewables launches $680m takeover bid for MMA Offshore Australian offshore player's board claims takeover deal is in the best interests of its shareholders PSA International sees profit fall amid 'challenging market conditions' Company says it will continue to focus on expanding its core port business despite uncertainty in global trade Trans Mountain Pipeline expansion to boost Pacific aframax demand, says Poten Increased Canadian barrels will face a range of competitors for market share in Asia and the US

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MARCH 25, 2024

Uzbekistan-based cargo airline My Freighter adds third Boeing 767 My Freighter, a fledgling carrier based in Uzbekistan, began leasing a third widebody freighter from Ohio-based Air Transport Services Group. Port of Virginia expansion boosts ultralarge container vessel capacity The Port of Virginia recently completed a project to widen its ship channel for ultralarge container vessel traffic. FedEx deactivates 17 more aircraft as cost controls pay off FedEx Express has parked more freighters, reduced aircraft capex and is integrating its daytime freighter network with the Freight segment's less-than-truckload operation to provide linehaul connecting the U.S. and Europe to boost efficiency. Port Houston shows import strength in February Port Houston reported strong imports after a soft January as general cargo tonnage represented nearly 40% of total import tonnage in the month.