VIDEO: Ulstein delivers Olympic Boreas Ulstein Verft today delivered the state-of-the-art offshore wind commissioning service operation vessel (CSOV) Olympic Boreas to Fosnavåg, Norway, headquartered Olympic Group. The vessel is the first of two sister vessels based on
Coral Expeditions manages biofouling with graphene coatings and robotic cleaning In a cruise industry first, Australian expedition cruise specialist Coral Expeditions is to use a combination of robotic hull cleaning and graphene-based hard foul release coatings from GIT Coatings on its 2019-built,
ABS releases industry-first ammonia-bunkering advisory With ammonia-fueled and ammonia-ready tonnage already on order, ABS has released guidance focused on the bunkering of the fuel, the first such advisory for the industry. The ABS Ammonia Bunkering: Technical and
VIDEO: Cargill-chartered NYK Group bulker retrofitted with VentoFoil suction sails Hard sails, rotor sails, suction sails: wind assisted propulsion solutions are now getting the attention of serious players, notably major charterers- including Vale, Trafigura and Cargill. Back in July last year Japan's
MSC Orion calls at Port of Salvador Wilson Sons, Brazil's largest port and maritime logistics operator, received MSC Orion at the Salvador Container Terminal on 24 July. This 366-meter-long ship, with a 16-meter draft and a capacity of 15,000 containers, is the first of its class to operate in Baía de Todos-os-Santos in Brazil. In 2018, the Port of Salvador became the second port in Brazil to receive authorization from the Bahia Po
Global bunker indices continue moderate decline In the 30th week of the year, the Marine Bunker Exchange (MABUX) global indices maintained their moderate downward trend. The 380 HSFO index dropped by US$11.25 to US$541.69/MT, thus breaking below the US$550 mark. The VLSFO index decreased by US$9.58 to US$643.10/MT, falling below US$650. The MGO index declined by US$12.29 to US$825.51/MT. "At the time of writing, the world bunker indices demons
BIFA and TT Club provide advices on container shipping safety The British International Freight Association (BIFA) used the latest episode in its 2024 webinar series to provide crucial advice on safety in container shipping. The keynote speaker, Mike Yarwood, managing director of loss prevention at TT Club-a global leader in insurance and risk management services for the international transport and logistics industry-was joined by Robert Windsor, BIFA's mem
Indian Register of Shipping reveals new leadership appointments The Indian Register of Shipping (IRS) announced new leadership appointments aiming to strength its management team. The Board of Directors of IRS has approved the appointment of P.K. Mishra as managing director and T.K. Sahu as joint managing director, effective from 1 August 2024. P.K. Mishra, who has been with the organization for 26 years and previously served as joint managing director, bring
CMA CGM applies updated PSS from Egypt and Türkiye to West Africa French ocean carrier CMA CGM has notified its customers of an updated Peak Season Surcharge (PSS) from Egypt and Türkiye to West Africa. Effective from 1 August 2024 (loading date) until further notice, CMA CGM's surcharge will apply to dry cargo shipped from Türkiye and the Eastern Mediterranean region of Egypt to West Africa. The surcharge amount is set at US$400 per container. If you liked thi
NWSA announces refrigerated electrical upgrades on Terminal 5 The Northwest Seaport Alliance (NWSA), a marine cargo operating partnership of the ports of Seattle and Tacoma, has announced refrigerated electrical upgrades on its Terminal 5. The purpose of the proposed project is for SSA Terminals (Seattle Terminals) LLC (SSAT) to install the necessary electrical infrastructure to supply power for up 960 new reefer containers. The project includes pulling new
AI and Automation in the Container Shipping Industry The container shipping sector impacts global trade in a big way. It has recently improved significantly with the support of AI and automation. The two technologies help container companies use resources better. They minimize mistakes and make shipping workflows more efficient. AI helps predict repair time and the most fuel-effective routes. It helps the personnel arrange containers in the most ba
Eco Maestro: First methanol-powered boxship docks at Muuga port On 22 July, HHLA TK Estonia welcomed Eco Maestro, the first container vessel powered by crude methanol, to the Estonian port of Muuga. Eco Maestro, flying the Maltese flag, is owned by the Singaporean company X-Press Feeders. Operating on the Green Finland X-PRESS (GFX) route, this vessel, operated by X-Press Feeders, began its journey from Rotterdam with stops in Antwerp, Kotka, Helsinki (Vuosaa
MSC breaks ground on new multimodal terminal in France MSC's logistics division MEDLOG has commenced construction works on a new multimodal platform in the Paris region. The MEDLOG Inland Terminal Paris-Bruyères is part of a broader redevelopment project at the Port 2000 site (TN MSC) in Le Havre and is expected to offer rail and barge connections for regional importers and exporters. HAROPA PORT awarded the site to TiL in 2022 after a competitive bi
Sea-Intelligence sees carriers as "bullish" for the peak season As we approach the end of the first third of the traditional container shipping peak cargo season, examining the levels of blank sailings and planned capacity deployment for the remainder of the third quarter provides valuable insights into carriers' confidence for the 2024 peak season. Sea-Intelligence's following graph illustrates the percentage of blanked capacity scheduled for the rest of the
Tanker and cargo ship become Typhoon Gaemi's first victims Typhoon Gaemi has claimed its first shipping casualties. Early this morning local time (25 July), an oil tanker capsized in Philippine waters, killing one of its 17 crewmen. Around the same time, a cargo ship sank in Taiwan, and its nine crew members remain missing. In the first incident, a domestic Philippines tanker, Terra Nova, which was laden with 1.4 million tonnes of fuel oil, capsized in M
MSC resumes Transpacific service MSC has announced the reinstatement and improvement of Liberty service, a standalone product of MSC, aiming to provide additional capacity for the ongoing robust demand in the Transpacific market. As part of this enhancement, MSC is introducing a new direct call to the port of Philadelphia. The Swiss/Italian container carrier said the service will offer competitive transit times into the United S
Smart reefer monitoring system transforms Thessaloniki Port Thessaloniki Port Authority (ThPA) is enhancing its reefer container handling capabilities by integrating RTE's GRASP automated reefer monitoring platform. This cutting-edge system, along with WRAD II Bluetooth® wireless devices, is expected to transform the Greek port's reefer operations, ensuring more efficient and effective handling. "Our first terminal project in Greece is an exciting opportu
HMM and KORAIL team up for eco-friendly intermodal transportation HMM has signed a Memorandum of Understanding (MoU) with Korea Railroad Corporation (KORAIL) to enhance inland rail transportation. The agreement covers utilizing domestic rail infrastructure for refrigerated cargo and establishing an 'Intermodal One-Stop Transportation System' that connects rail and maritime freight. This cooperation is expected to contribute to developing a low-carbon logistics
Valenciaport container traffic surges in 2024 first half The container sector remains Valenciaport's major force, accounting for 72% of total cargo, including bulk, and 78% excluding bulk. In the first half of the year, the Spanish port handled 2,708,318 TEUs, translating to a 14.05% increase from the same period last year. The Red Sea, Baltic States, and Australia are the destinations that have registered the greatest increases in traffic with Valenci
Container movement resumes at Chittagong port after five days The shipment of containers had remained suspended through Chittagong port for five days from Friday to Tuesday, due to a countrywide internet connection cut, and enforcement of curfew to calm student protest seeking public sector job quota reform. Some 200 people reportedly died across Bangladesh during the last week as they clashed with police to press home their demand. They burnt vehicles and
Top Ships bags $100m in charter extensions for MR tanker duo Greek tanker owner and operator Top Ships has won long-term charter extensions for two eco MR tankers at a bumper rate. Top Ships said that the 50,000 dwt eco MR tankers Eco Yosemite Park and Eco Joshua Park were awarded seven-year extensions. The company's subsidiaries own 50% of the vessels while the other 50% is ...
Castor moves into ultramax bulker segment Nasdaq-listed Castor Maritime is moving into the ultramax segment with the acquisition of an unnamed 2015-built vessel in a deal worth $25.5m. The Petros Panagiotidis-led bulker and boxship owner said it expects the vessel to join the fleet in the third quarter of this year. Earlier this year, the Cyprus-headquartered outfit completed the sale of ...
d'Amico scraps Marinakis MR deal Italian product tanker player d'Amico International Shipping (DIS) has terminated the purchase of a 2017-built MR agreed earlier this year. The Milan-listed firm said the deal for the 50,000 dwt Amfitrion from Evangelos Marinakis' stable fell through as the vessel had not been delivered in time. "Due to the sellers' failure to adhere to the ...
HMM and KORAIL team up to enhance refrigerated cargo rail transport South Korean flagship carrier HMM has signed a memorandum of understanding with railroad freight transportation services provider Korea Railroad Corporation (KORAIL) to create an intermodal transportation system. The agreement covers utilising domestic rail infrastructure for refrigerated cargo and establishing a one-stop transportation system that connects rail and maritime freight. According to
TotalEnergies buys stake in RWE's Dutch offshore wind farm to produce green hydrogen French energy major TotalEnergies has bought a 50% stake in the 795 MW OranjeWind offshore wind farm from German renewable developer RWE and will dedicate it to producing green hydrogen. TotalEnergies will use its share of the renewable electricity production from the project to power 350MW electrolyzer projects. These will produce about 40,000 tons per ...
Rovco wins survey work on 560 MW Scottish floater UK offshore contractor Rovco has been selected by Flotation Energy and Vårgrønn joint venture to conduct a site survey for Green Volt floating offshore wind farm, located 80km east of Peterhead in Scotland. The contract with an undisclosed value covers geophysical surveys in the wind farm array area, offshore and nearshore export cable corridors, shallow ...
GE Vernova blames faulty manufacturing for Vineyard Wind blade incident The manufacturer of the damaged blade on the Vineyard Wind farm, GE Vernova, has revealed the findings of a preliminary investigation and claims that the problem was faulty manufacturing, not a design flaw. The turbine suffered blade damage on July 13. No one was hurt but the island beaches were strewn with fibreglass shards and ...
Nine seafarers missing after ship sinks off Taiwan A Tanzanian-flagged general cargo ship Fu Shun capsized and sank in stormy weather off Taiwan with its nine crewmembers missing. The 1985-built 56-m-long vessel went down around 19 nautical miles off the coast of Kaohsiung City early morning, after Typhoon Gaemi swept across the island overnight. Local authorities said the nine crew from Myanmar had ...
Shelf Subsea takes Jumeirah Offshore DSV on long-term charter Australia's Shelf Subsea has entered into a long-term charter with Singapore-based Jumeirah Offshore for the diving support vessel (DSV) Oriental Dragon. The charter is for five years effective towards the end of this year following the vessel's current obligations. The vessel is an ST-246 Skipsteknisk designed, 124m DP3, saturation diving construction support vessel, specially designed ...
Capacity across big three shipbuilding nations leaps 20% in a year Across China, shipyards are expanding and churning out ships on a scale not seen since 2008. The shipyard sector has entered a new golden age after more than a decade's slump following the global financial crisis. In terms of newbuilding capacity, the latest estimate from broker Arrow puts shipbuilding capacity across the big three builder ...
Norwegian Car Carriers adds to newbuild series at CIMC Raffles Norwegian Car Carriers (NOCC) has boosted its shipbuilding programme at CIMC Raffles yard in China with a third dual-fuel newbuild. The Oslo-based outfit, owned by a company advised by US banking giant JP Morgan, has signed up for a new 7,000 ceu ship capable of running on LNG and with an ammonia-ready option. "NOCC is ...
Cyan Renewables buys MMA Offshore for $700m Singapore-based offshore wind vessel pure-play Cyan Renewables has acquired Perth-based OSV operator MMA Offshore for AUD 1.1bn ($702m). According to a statement by the two companies, this transaction marks the region's largest take-private deal in the offshore wind energy services industry. MMA shareholders will receive AUD 2.70 ($1.78) per share in cash, representing a 36% ...
Japan's NYK finds novel way to gain carbon credits and feed the nation Japanese shipping giant Nippon Yusen Kaisha (NYK) has found a novel way to earn carbon credits while also feeding locals with a much-loved delicacy. NYK is investing in Ireland's Verdant Bloom, the parent company of Urchinomics Group, which aims to restore kelp forests to sequester CO2. These underwater forests are attracting attention as a blue ...
Golden Energy Offshore clinches new PSV fixture Oslo-listed OSV pure play Golden Energy Offshore Services (GEOS) has won a new contract for its large platform supply vessel Energy Swan, securing coverage for the rest of the year. The 2005-built unit has been fixed out of the North Sea to a "first-class international operator" for 100 days from September. The vessel has been ...
Transocean picks up extensions for drillship duo Offshore drilling giant Transocean has secured more work for two of its drillships in the US Gulf of Mexico and Brazil. The New York-listed contractor revealed in its latest fleet status report that the Deepwater Atlas drillship was awarded two firm contracts by Beacon Offshore. The ultra-deepwater drillship started working for Beacon in the US ...
SIGTTO seeks new chief executive The Society of International Gas Tanker and Terminal Operators (SIGTTO) is looking for a new CEO after its current top executive stood down as he battles cancer. Ian Revell had been working for the industry body since September 2022, however, he was diagnosed with cancer at the start of the year and has now decided ...
Two Swiss lawyers take aim at flags of convenience in new book Two Swiss lawyers have published a 247-page book looking at the risks associated with flags of convenience. Flags of Convenience, Below the surface of the global shipping industry, penned by Mark Pieth and Kathrin Betz, is available to read for free by clicking here. Research for the book took the authors to accident sites in ...
Manila braces for oil spill as tanker sinks A 22-year-old tanker carrying industrial fuel oil capsized and sank 3.6 nautical miles off Lamao Point in the Philippines due to rough seas on Thursday. The incident which involved the Philippine-flagged TerraNova tanker, carrying 1,494 tonnes of industrial fuel oil, has led to a large oil spill, according to a statement by the Philippine Coast ...
Palau-flagged ship detained in Israel over dire conditions onboard No employment contracts, food storage freezers all at above 0°c, the stench of rotten meat, a bug infestation, broken sanitation facilities - these are some of the inhuman conditions seafarers faced aboard the Serafina, a 31-year-old general cargo vessel detained in Haifa, Israel after an inspection by the International Transport Workers' Federation (ITF). Haifa's Port ...
Bridging the growing maritime skills gap in the UK Leo Hambro from Tidal Transit has some advice for the new government in London. The UK's maritime industry stands at a crossroads: it's poised for significant growth driven in part by the burgeoning offshore wind sector, yet an overshadowing mariner skills shortage threatens to stall progress and put a ceiling on the sector's rate of ...
D'Amico's $43.5m tanker acquisition falls through Milan-listed product tanker owner d'Amico International Shipping has cancelled a memorandum of agreement to acquire the 2017-built tanker Amfitrion because...
CMA CGM results dip in second quarter vs first quarter despite spot-rate rise Second-quarter results of CMA CGM highlight how changes in spot-rate indexes do not necessarily translate into carrier average rates and...
Vessel calls resume at Hodeidah after Israeli air strike ITF demands repatriation of abandoned seafarers who witnessed bombing, while Galaxy Leader crew still held hostage
Performance Shipping sees 'firm' tanker market remaining Orderbook including three LNG-ready aframaxes is already in the money due to recent jump in prices, says chief executive
Cook Islands flags more tanker tonnage than registries 30 times larger as it embraces 'dark fleet' niche Shipowners behind elderly tonnage used to ship Russian, Venezuelan and Iranian oil are choosing small registries that specialise in this...
Thessaloniki becomes first Greek port with RTE reefer monitoring gear Move is another step in Thessaloniki port authority's 'smart port' push and could open up opportunities in cold chain logistics
Maersk LNG shift created butterfly effect, Drewry says LNG led alternative fuel vessel orders in the first half, as methanol loses momentum because of uncertainties about supply
Mediterranean ECA to reduce trade by 1%, new paper says Trade in the Mediterranean expected to drop to $250bn from $252bn
Palau-flagged ship detained in Haifa for 'inhuman' conditions released to undergo repairs ITF inspector Assaf Hadar described broken sanitation facilities and stench of rotten meat on board the Palau-flagged general cargoship Serafina...
Improving shipboard cuisine: A crucial ingredient in retaining seafarers As fewer people are choosing a career at sea, as well as decent internet connectivity and higher standards of shipboard...
Houthi threat leads to rise in dark transits across Indian Ocean and Arabian Sea Navies and other maritime administrations recommend vessels disable or at least strongly consider disabling AIS when in the vicinity of...
UK ports throughput down after two years of growth UK ports throughput decreased in 2023 for the first time since 2020, driven by a decline in coal tonnage because...
K Line and NYK boost profit forecasts due to Red Sea disruptions Just 14% of ships on the Asia-Europe trade route are using the Suez Canal, making it less likely for the...
Daily Briefing What does Ursula von der Leyen's re-election mean for shipping? | First signs of Russia amassing 'dark fleet' of LNG...
UPDATED: Body of crew member recovered as tanker and general cargoship capsize in Typhoon Gaemi Two ships capsized and three others have been involved in incidents related to Typhoon Gaemi that swept across Taiwan on...
West Coast ports say ready to handle peak season bump after front-loading surge The gateways say they are well-positioned to take on additional diversions from the East and Gulf coasts should an ILA strike occur after the current labor deal expires at the end of September.
Mixed Q2 result for CMA CGM as profits fall despite jump in volumes The Marseilles-based ocean carrier grew its revenue in the second quarter, but much of the growth came from its recently expanded logistics division.
DB Schenker H1 earnings slip, but company extends profitable run The operating profit earned by the Deutsche Bahn subsidiary in the first six months of the year fell slightly but was more than double what it earned in the same period in pre-pandemic 2019.
McKinsey finds 90% pullback in logistics funding by VCs since pandemic A report from the consultancy pins lackluster funding into logistics startups on static freight demand and a steep decline in freight rates in 2023.
Bullish fundamentals portend solid peak season for air, ocean markets More than 70% of air cargo space controlled by Kuehne + Nagel subsidiary Apex has been presold for the third and fourth quarters. Photo credit: K+N.
Royal Caribbean shares plunge as yield concern overshadows rosy earnings picture In quarterly report that seemed to do everything right, investors see signs of weakness
Viewpoint: Scrubbers don't match up to shipping's air pollution rules Opportunity Green legal analysis claims scrubbers may be in conflict with Marpol convention
CMA CGM profits plunge 50% even as disruptions lift quarterly revenue past $13bn Liner operator says volatile macroeconomic and geopolitical environments could continue to affect fluidity of maritime
FMC sets rules on 'unreasonable' cargo refusals despite liner giants' objections Despite carrier objections, new US regulations on rolled cargo will enter into effect in September
Performance Shipping eyes switch in charter strategy as profit sinks in weaker tanker market Owner hopes two spot-traded vessels will give access to rising freight rates this year
'We are just getting started': Royal Caribbean dividend return marks major post-pandemic milestone Cruise giant reinstates dividend that was put on hold by Covid-19
Castor Maritime breaks into ultramax market with first bulker buy in two years After selling a dozen bulkers, Petros Panagiotidis firm starts expanding again
Newly listed Crown LNG advances $533m FSRU-based project for Scotland Planning applications to go in as US-listed company appoints engineers
Oil slick spreading after deadly tanker sinking off the Philippines in wake of typhoon Seafarer dies as bad weather hampers anti-pollution efforts as oil slick spreads in Manila Bay
Sempra Infrastructure sifts shipyards for FLNG project off Mexico Company is working with Exmar on honing down its shipbuilder options
Njord Shipping sells off two handysize bulkers in latest divestment Glastad Holdings subsidiary has pared down its fleet
Royal Caribbean dividend return marks major post-pandemic milestone Cruise giant reinstates dividend that was put on hold by Covid-19
Subsea7 hunts billions of dollars in Brazil with a bevy of big projects up for grabs Kristian Siem outfit believes there are six projects in Brazil worth at least $1.25bn each
Seafarers stranded by Yemen 'war zone' strikes need to get 'back home', says union Sixteen seafarers abandoned in Hodeidah Port, while eight trapped on board their vessel
Russian FSRU in Chinese yard receives clearance to take Northern Sea Route All eyes on Arctic LNG 2 for a first cargo and liquefaction build-out
Tanker giant Bahri in 'advanced talks' for first Chinese-built VLCCs in break with tradition Saudi giant is said to be in advanced negotiations with Dalian Shipbuilding for the four tankers
K Line becomes second ONE stakeholder to hike profit hopes on Red Sea crisis Liner giant reaps the reward of stake in Ocean Network Express as market outperfoms
Klaveness Combination Carriers pays off $63m bond loan after 'cheap refinancing' KCC will call remaining outstanding NOK 191.5m of 2025 bonds
Thenamaris cashes in its two oldest tankers in sales worth over $60m Pair of aframaxes emerge with little-known entities based in the Seychelles and the United Arab Emirates
Kristian Siem's Subsea7 dripping in confidence as backlog tops $12bn Owner hikes forecasts as it adds $4bn to backlog in quarter on the back of two 'super-major' contracts
Golden Energy Offshore sees low activity and day rates below expectations in summer season PSV owner says 'good coverage' for June with fleet utilisation of 94.8%
Three women, a London pub and a big anniversary: How Wista has spread its message to women in shipping worldwide What started over a Christmas lunch is bigger than ever 50 years later
'Focus on women as leaders,' says IMO secretary general Arsenio Dominguez New IMO chief plans to be more activistic in his role
Diana Shipping lands $4.8m ultramax bulker charter from Stone Shipping Gross charter rate is $15,400 per day until at least 1 June 2025
Canadian investment fund backs Cyan's MMA Offshore takeover deal Singapore-based company confirms completion of deal to create largest Asian offshore wind player
Cido Shipping racks up newbuildings worth $2.7bn in major investment drive Hong Kong-based outfit is breaking into suezmax and LR2 tankers as part of an extensive shopping spree
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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