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MAY 27, 2024

Vanguard Logistics appoints Sachin Vijan as the new Regional Managing Director for the Indian Subcontinent & Middle East region SPJ Cold Storage Pvt. Ltd inaugurated ZIM delivers profitable growth in Q1 2024 Karaikal Port's new maximum permissible drafts Road transport fleet revenue seen up by 9-11 pc in FY25 Call for tyre imports not to be liberalised through FTAs Operation of Mumbai Port Storm Gate during the monsoon Smartphone exports soar 42 pc Baltic Exchange Market Report (24 May 2024) SMP Kolkata facilitates major boost to Kolkata Metro: 16 new coaches unloaded at Netaji Subhash Dock DPA meets with the trade to discuss a range of critical port-related issues Baltimore port access channel expanded to 400 ft Coffee exports up 12.22 pc in FY24

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MAY 27, 2024

A logistics JV in the Balkans Laurels for outstanding supply chain achievements Emanuele Grimaldi receives ESG Shipping Award Cooperation on the Nis - Wels route Rhenus reflects on Swiss operations Thordon Bearings to retrofit Panama tugs Iata Ceiv Pharma accreditation for Nairobi Moving towards more sustainable mobility A partner on the other side of the pond Midlands' new hub to handle 16 trains daily AD Ports Group eyes Chittagong terminal "Curiosity of the Day" Saudia Cargo moves into Jeddah's "MRO village" Under two hours for a 90 t load Onboard in Oman ZM Trucks expands business in North America Hydrogen-powered tugs set for construction ECS Group: mourning Mac

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MAY 24, 2024

Shipper fury as spot rates soar - and box lines ignore contracts DB Schenker auction - the long haul to a market listing? Detention and demurrage claims at FMC hit well over $67m SM Line in the red as market regressed in 2023 Logistics is the key to growing humanitarian needs, says Airlink Seaspan debuts split-block feeder design, using the bridge crew as a 'breakwater' UK port groups try to deflect from findings on shipping pollution Norfolk Southern reaches $310m settlement Forget Greyhound: a new 'cargo' airline launches Virgin Atlantic appoints VP finance to head cargo team

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MAY 24, 2024

CMB.TECH and Damen agree to build four hydrogen dual fuel tugs CMB.TECH and Damen have signed an agreement that will see Damen build four 80-tonnes bollard pull tugs powered by a CMB.TECH hydrogen dual fuel solution. The agreement was signed May 23 during NTSB reports on $2 million barge breakaway incident The National Transportation Safety Board (NTSB) has issued its report on the March 28, 2023, barge breakaway incident in an 11 barges under tow struck the Vane Dike mooring cell at the Ship Repair USA: Green retrofit design and installation processes Ship repair yards worldwide are entering a new era due in large part to sustainability efforts and decarbonization goals. To ease yards into this transition are a variety of technologies and equipment

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MAY 24, 2024

Global spot rates soar on Major Asia-Europe and Asia-US trades A combination of factors have combined to send global spot rates reaching for the skies on the major trades out of Asia to Europe and the US according to Drewry Shipping Consultants' latest WCI index. The composite index increased 16% over the past week to US$4,072/feu, a massive 142% higher than in the same week last year. Drewry analyst Simon Heaney told Container News that there were a number International box lines fix Chinese domestic vessels as charter market soars Boxship charter rates have reached a two-year high and in a replay of the Covid-19 pandemic, Chinese coastal container operators are seeing demand from international liner operators to charter their ships. CMA CGM chartered Shishi Hengtong's 2004-built 5,060 TEU ship Heng Hui 6 for 18 to 20 months, for US$28,000/day. Safetrans Line, a China-based operator focusing on Russian routes, chartered Fuj Port of Koper handles 256,240 TEUs in Q1 The Luka Koper Group's performance in the first quarter of this year was primarily impacted by weak economic activity in the euro area and sluggish growth in the global economy. Slower-than-expected economic growth and the uncertain situation in the Middle East have resulted in slightly lower maritime throughput. The first quarter saw throughput reach 5.3 million tonnes, a 7% decline from the sam Green methanol-powered feeder service launches at Port of Gothenburg On Saturday 18 May, a new feeder service began regular calls at the Port of Gothenburg. This service is operated by Laura Maersk, the world's first container ship powered by green methanol. Laura Maersk is part of Maersk's significant initiative to utilize renewable methanol as a ship fuel, marking the beginning of a fleet expansion with over 20 methanol-powered ships scheduled for delivery betwe Port of Rotterdam appoints new representative for Southwest Germany As of 1 April, Friedrich-Wilhelm Meyer has been appointed to represent the Port of Rotterdam in Germany's southwestern states. Alongside Wolfgang Schlegel, who was appointed last year, Meyer will oversee the southwestern region of Germany. Together, they succeed Roland Klein, who held the position for the past nine years. Meyer brings a wealth of experience from the German automotive sector, havi NatPower Marine and Peel Ports Group to launch first UK-Ireland green shipping corridors Peel Ports Group, the UK's second-largest port operator, has unveiled plans to create the nation's first green shipping corridors to Ireland. The inaugural routes will connect Belfast to Heysham in Lancashire and Dublin to Birkenhead in Cheshire, with the ambition of making Heysham the UK's first net-zero port. To support this initiative, NatPower Marine, a renewables group, will invest approxima PTP inks agreement with ZPMC for five ULCV quay cranes Port of Tanjung Pelepas (PTP), a joint venture between the MMC Group and APM Terminals in Malaysia, has signed an agreement with Shanghai Zhenhua Heavy Industries (ZPMC) to purchase five ultra-large container vessel (ULCV) quay cranes. This follows a similar agreement made in February with Sany Marine Heavy Industry for the procurement of six ULCV quay cranes. In addition, PTP Chief Executive Off HPH Trust and Beibu Gulf Port Group sign landmark cooperation agreement Hutchison Port Holdings Trust (HPH Trust) and Guangxi Beibu Gulf International Port Group Company Limited (Beibu Gulf Port Group) have signed a memorandum of cooperation, marking a significant step towards enhancing collaboration in the ports and logistics sectors, while promoting economic and trade exchanges between Guangxi and Hong Kong. This pivotal partnership aims to accelerate the growth of

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MAY 24, 2024

Wallenius Wilhelmsen places four more orders for methanol-fuelled, ammonia-ready newbuilds Norwegian car carrier operator Wallenius Wilhelmsen has declared options to build four more methanol dual-fuel and ammonia-ready newbuildings in China. The Oslo-listed company ordered four more 9,300 ceu so-called Shaper Class vessels at China Merchants Jingling Shipyard. The options for the ordered vessels are the new options Wallenius Wilhelmsen secured in March which have earlier ... Damen tug quartet to run on CMB.TECH hydrogen power CMB.TECH and Dutch shipbuilder Damen have signed an agreement to collaborate on hydrogen-powered ASD Tugs. These tugs will use CMB.TECH's dual-fuel hydrogen technology and be built by Damen. The collaboration entails work on four initial vessels. Classification society Lloyd's Register has already awarded CMB.TECH and Damen with approval in principle for the hydrogen solution ... Equinor to boost Troll gas production with $1.1bn investment Norwegian energy major Equinor has decided to invest over NOK 12bn ($1.12bn) to further develop the gas infrastructure in the Troll West gas field. Stage 2 of the Troll Phase 3 project includes eight new wells from two new templates with subsea controls extended from existing templates. A new gas flowline will be laid as ... Box spot rates 'entering pandemic-level territory' Drewry's composite World Container Index increased 16% to $4,072 per feu this week, sustaining remarkable increases recorded throughout May and pushing box shipping back towards the all-time highs of the covid era earlier this decade. A constrained supply picture due to Red Sea rerouting and healthy demand trends in several geographies have prompted an early ... Kalleklev warns of likely emergence of dark LNG fleet The liquefied natural gas (LNG) sector is facing the potential emergence of its own shadow or dark fleet of ships, which could facilitate Russia's growing exports of the super-chilled fuel. Russia has established a so-called "dark fleet" of tankers with obscure ownership and jurisdiction to circumvent sanctions on its crude and petroleum products, and a ... Wood rejects improved takeover offer from Sidara UK consulting and engineering firm Wood has rejected a third bid from Dubai-based company Sidara due to the offer 'significantly' undervaluing the company. Wood said it received a third unsolicited, preliminary, and conditional proposal from Dar Al-Handasah Consultants Shair and Partners, also known as Sidara, for a cash offer of 220 pence ($2.79) per share ... Guinea replaces Brazil on the cape podium The extraordinary growth of the bauxite capesize trades out of Guinea has seen the route replace Brazil in terms of ton-days in the opening four months of the year, new data from broker BRS shows. The Guinea to China bauxite trade route has now firmly entrenched itself as a "pivotal pillar" of capesize prospects, analysts ... Seafarer health survey launches Cardiff University is researching the important area of seafarers' health and access to health care. All active seafarers working onboard cruise or cargo-related ships have been invited to take part in either a confidential online questionnaire or an interview. The research findings will result in recommendations relating to the provision of healthcare for seafarers working ... Interim solution gets goods flowing through Brazil's second-largest container port Local authorities in Brazil have found an interim measure to run one of the nation's top ports nearly 18 months after a terminal operator left. JBS, a Brazilian food manufacturer, will take over the running of Itajaí port in Santa Catarina state for two years while a tender is prepped for a longer contract. The ... Expansion moves ahead at Canada's Prince Rupert The Canada Infrastructure Bank (CIB) has reached financial close on a C$150m ($109.2m) loan to the Prince Rupert Port Authority (PRPA) for the first phase of a project to build CANXPORT. The new export logistics hub will expand capacity and capabilities for rail-to-container transloading of multiple export products at the Port of Prince Rupert. Work ... HD Hyundai and Shell partner to develop large liquified hydrogen carriers HD Hyundai, South Korea's top shipbuilder, is partnering with Shell to commercialise large liquified hydrogen carriers by 2030. Both companies have been working hard to develop the necessary technology for this emerging seaborne trade. Currently the only trading liquid hydrogen carrier in the world, the Suiso Frontier, has just one 1,250 cu m vacuum-insulated, Type ...

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MAY 24, 2024

Lagging transatlantic left out of spot rate rally - at least so far Spot rates for US containerised imports from Europe are falling far behind rates from Asia. It could be just a... Shipping should not have to fix climate finance, but it has no choice The world's first global carbon tax will have to find a way through thorny politics far outside of shipping's remit The Lloyd's List Podcast: What does the SHIP act mean for shipping? Lloyd's List senior maritime reporter Tomer Raanan walks you through the latest raft of US sanctions authorities with the help... Prokopiou appoints Varvitsiotis chief executive at resurgent Greek shipyard Since commercial activities restarted in February, the former Niarchos-controlled facility has repaired 11 vessels T&E hits back at emissions report's critics Transport and Environment called BPA's rebuttal to its report a distraction and warned that it could stop development of policy... China military drills around Taiwan test shipping's nerves Seaborne traders with a stake in this vast market must note the renewed tension in the Taiwan Strait as a... CMB.Tech signs for four hydrogen-powered tugs The vessels will be able to run on traditional fuel as well as hydrogen when it is not available, and... Wallenius Wilhelmsen boosts newbuilding orderbook to a dozen as it declares options World's largest operator of pure car and truck carriers has confirmed it has added four 9,300 car capacity newbuildings to... Container spot rates continue to surge Carriers are struggling to move ships and equipment back to Asia. Shortages of space are pushing pricing to a premium Reduction in feeder boxship supply 'not unlikely', says Pittas Greece-based feeder and intermediate containership owner posts $20m first-quarter profit Seafarer dies after 30 ft fall An investigation by the ship's operator and flag state is underway and efforts are being made to repatriate the seafarer... CSSC Shipping appoints new chairman Li Hongtao Li Hongtao has managed several CSSC subsidiaries Basilisk crew freed after pirate boarding A EU Navy Forces helicopter and frigate secured the vessel and its crew after the unauthorised boarding yesterday Daily Briefing 'Dead' dark fleet tanker Pablo seen resurrected in Russia as AIS manipulation tactics escalate | Panama Canal auction fees surge...

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MAY 24, 2024

Union Pacific steps up security as container thefts spread from LA-LB port Intermodal executives are trying to address container thefts through more security measures as shippers become increasingly frustrated with the problem. Port of Oakland approves Everport lease change to spur terminal modernization The move by the port's Board of Commissioners opens the door to the modernization of the Everport-operated Ben E. Nutter Terminal so the 90-acre facility can accommodate post-Panamax ships and potentially expand. Rate volatility clouds carrier contract negotiations on Indian trades One reason for the hesitation of shippers to sign deals is believed to be the decline of spot rates amid the demand downturn on the trade, and there is an expectation that dynamic will continue to hold. North American Port Rankings: Mexico volume growth highlights nearshoring momentum Three Mexican ports rose in the Journal of Commerce's 2023 rankings, with the moves driven by volume growth coming from Asia inputs amid a nearshoring push in the US. Port Rankings: Mexico port growth highlights nearshoring momentum Manzanillo and Lazaro Cardenas rose in the rankings of the busiest North American ports as measured laden volumes, as carrier

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MAY 24, 2024

Editor's selection: Erling Haaland, George Economou and a $4.5bn newbuilding plan These were some of the big stories making headlines this week Connecticut tanker brokerage Dietze reaches settlement with former partner in $1.4m legal battle Partners had been accused of failing to pay out retirement package for 23-year veteran Houthis set sights on MSC and Zodiac ships in Arabian Sea and Mediterranean Action part of new phase of operations by Yemen-based militant group Houthis claim to reach Mediterranean with attack on Zodiac-managed LPG carrier Action part of new phase of operations by Yemen-based militant group United Maritime maintains dividend despite first-quarter loss Dry-docking costs and hedging against a seasonal slowdown that never came weighed on results of US-listed spin-off Marine insurance giants embrace tougher carbon targets Signatories to the Poseidon Principles for Marine Insurance align goals with new IMO targets Steamship Mutual banks best results in over two decades with investment rebound Underwriting returns also strong as focused protection and indemnity provider builds tonnage Cash-hoarding shipping companies to see credit scores rise, says Clarksons Star Bulk Carriers, Nordic American Tankers and Global Ship Lease are tipped to improve scores most Shell partners shipbuilding giant HD Hyundai to develop liquefied hydrogen carriers The partners hope to lead the future green energy market North Star returns to India for extra wind farm vessel backed by Siemens Gamesa charter Scottish owner brings fleet to eight wind farm newbuildings with latest deal MOL to put wind propulsion system on second coal carrier Bulk carrier to have huge telescopic Wind Challenger system installed The 'matrix': How Braemar brokers 'navigate' sanctions minefield A dedicated team at UK broker scours new business for potential problems Greek shipowner M/Maritime buys last chartered-in vessel John Mytilineos-backed firm now fully owns all the bulkers it is trading Wavelength podcast: Flag states v port states and brokers v regulators Flag states accused of trying to game the safety regime. Shipping is safer, but at risk. Brokers and NFA Sparebank 1 boss Benedicte Fasmer jumps ship for Telenor CEO departs after three years at Norwegian shipping lender US VLCC loadings head for record levels as fixtures boom Favourable pricing encouraging at least 30 tankers to load, Kpler says European Maritime Finance hires new executives as it strikes out into Stockholm Danish shipping investor opened a Swiss branch earlier this year Saverys' CMB.Tech strikes deal for four hydrogen-powered tugs Belgian shipowner and Dutch shipyard team up on dual-fuel ASD tugs Union Maritime newbuilding push hits $1.4bn with dual-fuel tanker order Owner says delivery is due in first half of 2027 Wallenius Wilhelmsen orderbook hits $1bn with latest newbuildings Shipowner adds four more vessels in China Saverys' CMB.Tech and Damen strike deal for four hydrogen-powered tugs Belgian shipowner and Dutch shipyard team up on dual-fuel ASD tugs Filipino seafarer dies in fall from crane on bulker Accident involving the Yuka D happened at Paradip in north-east India Greek family Vernicos enter bulker market with new shipowning vehicle Athens-based company makes its first move with the acquisition of Clipper Group handysize ship Shell partners with shipbuilding giant HD Hyundai to develop liquified hydrogen carriers The partners hope to lead the future green energy market Veteran tanker breaks down after loading in Russia, halts shipping traffic Aframax suffered engine failure off Turkey, shipping agents said Cargo ship in race with pirate dhows to fight off a suspected pirate attack Second incident in 24 hours shows increased threat to vessels Okeanis tanker delivers first Djeno crude to Israel's Ashkelon in eight years Kpler data shows Folegandros made rare voyage this month Cargo ship in race with pirate dhows off Somalia Second incident in 24 hours shows increased threat to vessels Kristian Gerhard Jebsen Skipsrederi hires Petter Mowinckel as new head of dry bulk to accelerate expansion Mowinckel previously worked for G2 Ocean and Grieg Star Bulk Naval forces foil piracy attempt against German-managed ship off Somalia Pirates abort raid against the 17,800-dwt Basilisk (built 2013), leaving all its seafarers safe and accounted for Chinese iron ore imports continue to set records, says Clarksons Weaker domestic steel production and increased port stocks have led to more uncertainty about future demand Playing by different rules: New generation of female seafarers is finding fresh opportunity Positive changes on board and on shore encourage more women to seek careers at sea Genco Shipping shareholders overwhelmingly back board, management Outcome was assured after withdrawal of proxy fight by shipowner George Economou Court sets claim limits over deadly ship sinking after collision with Polsteam vessel Owners of both vessels win legal shield in Isle of Man court Star Bulk scouts for deals after Eagle takeover. 'The next merger may be a cape fleet' Petros Pappas and Hamish Norton discuss M&A opportunities

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MAY 24, 2024

FreightTech Friday: Collaboration is the answer to supply-chain woes, says Beacon This week, collaboration becomes key, TruckParkingClub.com hits a milestone, and ex-Convoy engineers raise money for the spot market.