Sovcomflot tanker NS Africa rescues 19 seafarers in the Gulf of Aden Russia's largest shipping company Sovcomflot reports that on June 23 at 13:12 local time, its tanker NS Africa, sailing in the Gulf of Aden 96 nautical miles southeast of the port of
Crowley christens America's first all-electric harbor tug In a ceremony held in the Port of San Diego yesterday, Crowley christened the eWolf, America's first all-electric harbor tug. Operating with zero emissions and other sustainable technology, the tugboat delivers the
First Venture Global LNG carrier is on the water The Samsung Heavy Industries shipyard in Geoji-si, South Korea, has launched the first of the nine LNG carriers acquired during their construction phase by Arlington, Va., headquartered U.S. LNG export terminal operator
McAllister Towing announces departure of Eric McAllister McAllister Towing today announced that Eric McAllister, officer, director and shareholder of the company, is leaving to pursue various other opportunities. "I want to thank Eric for all of his contributions to
Viega press fittings gain additional NAVSEA approval Broomfield, Colo., headquartered Viega, whose press fitting system is the first to meet the U.S, Navy's rigorous testing requirements, reports that it has received additional Naval Sea Systems Command (NAVSEA) approval for
ITF demands immediate action to ensure the safety of seafarers in the Red Sea Yesterday was IMO's Day of the Seafarer, with this year's theme being "Navigating the Future - Safety First." Both IMO Secretary General Arsenio Dominguez and UN Secretary General António Guterres marked the
Ship owners face hefty emission bills under EU-ETS, warns Oceanly The integration of the shipping sector into the European Union Emissions Trading System (EU-ETS) brings substantial costs and compliance challenges for ship owners and Rapallo, Italy, headquartered fleet performance solutions specialist Oceanly
MSC Vietnam's Project Cargo team sets new record MSC Vietnam's Project Cargo team has achieved another milestone by successfully securing and loading a disassembled lifting frame with parts of various dimensions in Vung Tau. The longest single piece, measuring 31 meters, sets a new record length, surpassing MSC Vietnam's previous record set just five months ago. By employing innovative handling techniques, strategically using specialized equipm
Memorandum signed for development of European Gauge Railway Line to Klaipeda A memorandum was signed in Klaipeda to foster closer cooperation in decision-making for developing a new European gauge railway line to Klaipeda. The memorandum was signed by the heads of the Ministry of Transport and Communications, "LTG Infra" (the public railway infrastructure manager of the "Lithuanian Railways" Group), the Klaipeda Port Authority, and the municipalities of Klaipeda city and
Boxship newbuildings still in demand despite high deliveries Record newbuilding deliveries of 3.1 million TEUs this year have not discouraged new orders, according to Alphaliner's report. However, operators and tonnage providers are shifting their focus to mid-sized vessels of 8,000 to 17,000 TEUs, rather than the megamax ships commissioned during the Covid-19-induced boom. Year-to-date, 64 boxships of 543,500 TEUs have been ordered, as the resurgent freig
Geodis expands rail freight network with Poland-Spain connection Geodis, a leading intermodal operator, has expanded its rail freight services by introducing a new fixed schedule connection. The first direct rail link between Lódz, Poland, and Barcelona, Spain, became operational on 11 June. On its inaugural journey, the freight train transported customer goods in 44 containers and/or swap bodies, each with a payload capacity of 26 tons, from Lódz to Barcelona
Port of Brunswick handles more than 86,500 units of Ro/Ro cargo in May The Port of Brunswick set a new record in May, handling 86,577 units of Roll-on/Roll-off (Ro/Ro) cargo, marking a 26% increase of more than 18,000 units compared to May 2023. "Brunswick's proximity to domestic manufacturers and to vibrant sales markets make it a critical partner for the auto industry in driving new business. The recent addition of 120 acres of processing space, along with hundred
MSC revises equipment charges in Türkiye Considering the current equipment situation in Türkiye, MSC will revise its Equipment Repositioning Charge (ERC) for all cargo originated from Türkiye to NWC, UK and ScanBaltic destinations. As from 1 July 2024 (B/L date) until further notice, the ERC will be charged as follows: €500/20' or GB£500/20' or US$500/20' €500/40' or GB£500/40' or US$500/40' If you liked this post, please consider donat
ABP tests new platform to enhance workplace safety and planning Associated British Ports (ABP), a major port operator in the United Kingdom, is advancing workplace safety and planning through the trial of a new workforce scheduling platform developed by UK-based startup, Ensemble Analytics. In this trial, ABP will utilize the 'Athena' platform at its Ports of Immingham, Hull and Ipswich to bolster operational resilience and facilitate long-term resource plann
Leatherman Terminal reopens following SC Ports-ILA agreement South Carolina Ports (SC Ports) has reached an agreement with the International Longshoremen's Association (ILA) and as a result, the Leatherman Terminal will reopen. SC Ports and the ILA said in a joint statement that "after productive and collaborative conversations, we have mutually developed and agreed to the framework for an operating agreement that will create long-term stability and compet
NTU Singapore, PSA and Chiyoda launch hydrogen transport and storage trials NTU Singapore, PSA Singapore and Japan's Chiyoda Corporation have commenced trials to explore the transportation and storage of hydrogen in the form of methylcyclohexane (MCH). This method allows hydrogen to be stored as a liquid at ambient temperature and pressure before being converted back to gaseous hydrogen for use as a clean fuel in port operations. As part of this collaboration, PSA has es
COSCO announces new service linking Mexico with Far East COSCO SHIPPING has launched Mexico Express Service (WSA5), connecting key Mexican Pacific ports like Ensenada, Manzanillo, and Lázaro Cárdenas with major Far East ports such as Busan, Dalian, Ningbo, Shanghai, and Qingdao. The Chinese ocean carrier will offer 3,000-5,000 TEU slots per voyage. COSCO SHIPPING currently operates 12 liner routes calling Mexico, with a total capacity of over 220,000 T
First commercial electric cargo handlers operate at Port of Los Angeles The Port of Los Angeles has achieved another significant milestone in its journey towards becoming a zero-emission (ZE) port by deploying the first commercially available battery-powered electric cargo top handlers in the United States. "We are building a greener Los Angeles together that supports frontline communities while making major investments in clean energy and creating thousands of good-
Saudi Global Ports acquires 80 electric prime movers In a move towards a more sustainable port ecosystem, Saudi Global Ports (SGP) has acquired 80 electric prime movers (e-PMs) from SANY Marine Heavy Industry for use at the container terminals of King Abdulaziz Port Dammam (KAPD). Along with the e-PMs, SANY will provide charging stations and relevant training for SGP employees to maintain and service the e-PMs and charging stations. This purchase h
Belships beefs up ultramax fleet with newbuild and secondhand deals Norwegian bulker owner Belships is expanding its ultramax fleet with the acquisition of modern Japanese-built vessels and signing up for a pair of newbuildings. The Oslo-listed company said it had agreed to buy an unnamed 64,000 dwt vessel built in 2024 for $41m, with delivery set for the first quarter of 2025. The Lars Christian ...
Transocean given one-year drillship extension Offshore drilling contractor Transocean has won another one-year extension for the 2014-built ultra-deepwater drillship Deepwater Asgard in the US Gulf of Mexico. The company said that the program was expected to begin in direct continuation of the rig's current program and is estimated to contribute approximately $188m in backlog, including additional services. The daily rate ...
KVH inks bulk data Starlink capacity deal Maritime connectivity specialist KVH Industries has expanded its relationship with Starlink through a bulk data distribution agreement. The new agreement offers KVH increased flexibility in the development and sales of custom, cost-effective airtime plans using Starlink's mobile priority service. Under the agreement, KVH prepaid for access to a large block of Starlink data at favourable ...
Pioneer Marine expands with supramax addition Greek bulker operator Pioneer Marine has revealed a new addition to its fleet with the delivery of a 2014-built supramax. The Athens-based company has welcomed the 56,500 dwt Myra Bay - the former V Rich brokers earlier this year reported as sold to an unnamed Greek buyer in a deal worth between $18m and $19m. ...
Marsa Maroc to operate container terminal of Nador West Med port The development of this port is part of a global strategy aimed at transforming Morocco into a leading logistics platform. The country already has the port of Tanger Med, which ranks among the largest container ports in Africa and in the world. Port operator Marsa Maroc and Nador West Med have signed a concession agreement ...
Edda Wind closes $38m private placement Oslo-listed offshore wind service pureplay Edda Wind has raised nearly NOK400m ($37.7m) in a private placement of new shares. A total of 17m shares were offered at NOK23.5, with the company's largest backers, John Fredriksen, Wilhelmsen and Idan Ofer, pre-subscribing for the full private placement. Fredriksen's Geveran Trading, Wilhelmsen New Energy and Ofer's EPS Ventures ...
Rosetti Marino bags $428m offshore contract Italy's Rosetti Marino has secured a contract worth over €400m ($428m) for an offshore project in the Mediterranean Sea. The deal, equivalent to 33% of the value of the entire project, was awarded by Libya's Mellitah Oil & Gas - a consortium formed by National Oil Corporation of Libya and Eni - to Rosetti Marino ...
Solstad seals new Prysmian CSV charter deal Norwegian OSV owner and operator Solstad has secured a new long-term contract with Italian cabling giant Prysmian. Prysmian has contracted the 2014-built construction support vessel Normand Ocean to support its cabling operations until 2032. The firm contract, with an undisclosed value, will start during the first or second quarter of 2027 and comes with an ...
SeaBird gets more work for survey vessel Marine seismic specialist SeaBird Exploration has agreed to extend a firm duration of a contract for the vessel Eagle Explorer. SeaBird penned a letter of award with an unnamed repeat client for a 2D survey in the Western Hemisphere and secured a contract for the vessel back in May. At the time, the Oslo-listed company ...
TGS to conduct offshore wind measurements off US West Coast Oslo-listed seismic data specialist TGS has announced a new campaign for offshore wind and metocean measurement located in Morro Bay, off the US West Coast. The campaign seeks to enhance the understanding of offshore conditions across three wind energy lease areas in Morro Bay. This three-year deployment in an area with an average depth of ...
Number of active shipyards jumps by 17.7% in two years Shipyards are making the most of the current newbuilding boom with new data suggesting the number of active yards has leapt by 17.7% in the space of the last two years. In June 2022, there were 153 active shipyards, according to Greece's Xclusiv Shipbrokers. This number climbed to 180 this month, with China accounting for ...
Agricore books ultramax newbuilds Chinese owner Agricore Shipping has beefed up its orderbook of bulk carriers with another newbuilding deal at the domestic yard. The company, better known for its S&P activity on the secondhand market, has selected Jiangsu New Hantong Ship Heavy Industry to build four 63,500 dwt ultramax vessels. Established in 2016, Agricore entered shipowning with its ...
Vitol in for LR2 quartet at Dalian Commodities trader Vitol has booked four LR2 tankers at Dalian Shipbuilding Industry Co. Brokers suggest a price tag of around $72.5m each and higher, with delivery of the 115,000 dwt vessels starting from October 2026 through to March 2027. The order follows Hyundai Vietnam-built 110,000 dwt LR2s, Elandra Swift and Elandra Tern, entering the fleet ...
Vogemann bulks up with more cape orders in China Vogemann has added to its series of capesize bulker newbuilds at Hengli Shipbuilding in Dalian. Industry sources say the German owner has returned to the Chinese shipyard formerly known as STX Dalian for four 180,000 dwt scrubber-fitted bulkers, with delivery in 2026 and 2027. The deal builds on Vogemann's order last year involving four capes ...
COSCO Shipping resolves dispute over Peruvian megaport exclusivity rights Peru and Chinese state-owned COSCO Shipping have resolved a dispute over the $3.6bn Chancay port development which could be transformative for cargo trade between Asia and Peru. Peru and COSCO Shipping were caught in a spat for exclusivity rights which, according to Peru's port authority, were given to Cosco by an 'administrative error'. On the ...
Horst Zeppenfeld exits container shipping German owner Horst Zeppenfeld has exited the container markets, with Alphaliner reporting the sale of the 2006-built, 1,341 teu Algol to Greece's Element Shipmanagement. The Algol is currently on charter to X-Press Feeders, working routes in South America. The deal leaves Horst Zeppenfeld with two 2014-built handy bulk carriers in its fleet and takes Element's ...
Looming lean crew era in the spotlight Are the numbers of crew onboard about to dwindle? This forms the lead story in the June issue of Splash Extra published today and follows on from news earlier in the month that tech firm Kongsberg Maritime has received approval in principle from classification society DNV to enable the role of chief engineer to be ...
NYK and Pertamina firm gas carrier ties Japanese shipowner Nippon Yusen Kaisha (NYK) has agreed with Indonesia state-run Pertamina International Shipping to collaborate in the field of liquefied carbon dioxide (LCO2) and liquefied natural gas (LNG) and jointly establish a shipmanagement company. The two companies have been forging closer ties in recent years, with NYK becoming an investor in PIS two years ...
Dawn of the shorefarer The world's crewing sector has been digesting significant news this month from Norway which could lead to fewer seafarers employed on ships. Tech firm Kongsberg Maritime received approval in principle from classification society DNV to enable a key role to be transferred from a ship to a shore-based control centre. The move will enable the ...
Why euphoria at this year's Posidonia has me worried Fair to say this year's Splash-sponsored Posidonia was rammed - organisers begging authorities to expand the exhibition center to accommodate the sensational demand, while the parties were on a euphoric scale we haven't witnessed for close to a generation. With the benefit of hindsight, the sense of euphoria experienced at this year's Greek jamboree does ...
MOL invests in American glider manufacturer Japanese shipowning giant Mitsui OSK Lines (MOL) has invested in an American developer of a novel form of transport. MOL Switch, the company's US-based corporate venture capital firm, has made a strategic investment in Regent, the developer of so-called seagliders, hydrofoiling electric wing-in-ground-effect vessels (pictured above). The coastal transport gliders use existing dock infrastructure
June 2024 Review The Red Sea shipping crisis dominated headlines once again in June. The Houthis displayed greater sophistication in their attacks on merchant shipping this month, hitting targets both by sea and air for the first time, killing one seafarer, severely injuring another, sinking one ship with another vessel likely also a constructive total loss. Into seven ...
Falling Asian refining margins undermine freight markets Crude oil prices climbed during June, narrowing Asian refining margins with some effect on tanker freight rates. WTI rose from a June 4 low of $73.25 to a June 20 high of $81.29. Similarly, between the same dates, Brent was up from $77.52 to $85.99, and Dubai Blend was up $78.87 to $82.49, narrowing the ...
Profitable dry cargo's lack of volatility China's economic stimulus continues to provide support for its steel producers, for global iron ore markets, and for capesize bulk carrier owners and operators. Chinese steel production rose 8.1% in May over April to reach 92.86m tonnes, its highest since March 2023 and up 2.7% year on year. Steel exports also rose 4.4% to 9.63m ...
Up, up and away for containers US containerised imports stuttered in May, with LA handling 0.75m teu in May, 3% down on May 2023, though the total for the first five months of the year was up 18% year-on-year. The Port of LA says that its containerised exports were up 24% year-on-year at 0.13m teu while imports were down 4.5% at ...
Analyst Abstract Dry Bulk Are dry bulk assets now overvalued? Throughout this month there has been plenty of speculation on this topic. A major factor behind rising asset values has been the impact of very strong newbuilding prices, which have deterred owners from making orders for new ships. "High prices and a large number of sales transactions ...
Lengthy Posidonia hangover Posidonia in Athens put a pause on the sale and purchase markets, and the hangover in the weeks since has been lengthy as reflected in the VesselsValue chart below. Nevertheless, prices remain very healthy, benchmarks are being more than met, and there is still plenty of interest in dry and wet alike. "It feels like ...
The Red Sea shipping crisis and Egypt The Houthi attacks on merchant vessels are wreaking havoc on shipping in the Red Sea in almost every metric imaginable. From officer supply shortages at an all-time high, sailor deaths, and the number of attacks to a statistic that might not be in the forefront as much as the others - Egypt's financial woes resulting ...
Views sought from commercial shipping on the issue of maritime migration The voice of commercial shipping is missing from debates around maritime migration, according to the Geneva-based Centre for Humanitarian Action at Sea, who are seeking responses to an online, anonymous survey available here. From the Straits of Malacca to the Gulf of Aden to the Central Mediterranean, it will come as no surprise to shipping ...
Exuberant dry bulk market sees asset prices streak ahead of earnings Tight shipyard capacity and the fear of missing out are driving values well beyond the likelihood that outlay can be recouped in earnings, writes Plamen Natzkoff from Maritime Strategies International. Dry bulk market players are putting earnings potential over asset values as they seek to capitalise on an exuberantly positive mood according to new analysis ...
US trade groups urge Biden's help in restarting stalled ILA-USMX talks Over 150 groups representing a variety of US businesses called on the White House to bring labor and management together, but it's not clear if the ILA would welcome outside influence.
CMA CGM, Hapag-Lloyd decouple on India-Europe trade after US network shakeup After seeking their own paths on the India-US East Coast trade, the carriers have put an end to their long-time slot-swapping on India-North Europe routes, industry sources told the Journal of Commerce.
Ocean carriers unable to cover demand despite huge capacity injection An early start to the peak seasons on the trans-Pacific and Asia-Europe trades has left shippers fighting for space with no sign of a respite from soaring rates and deteriorating service levels.
FedEx to 'reassess' LTL division's future in bid to leverage recent success As FedEx Freight increases revenue and profitability, the transportation and logistics company is considering potential steps to "unlock sustainable shareholder value."
SC Ports strikes deal with ILA to fully open Leatherman marine terminal The Port of Charleston and the International Longshoremen's Association are ending a long-running fight over crane jobs at the terminal by allowing operators to decide whether to join the union,
Maxim strikes back: controversial boutique bank makes the case for warrants-based deals An unapologetic Larry Glassberg implies that one-bulker Pavimar Shipping IPO could be priced next week
Marinakis pens largest PSV order in a decade Greek owner cements entry into offshore markets with contract for up to eight vessels
Adhira Shipping bags big lithium mining contract after management buyout Dubai bulker company seals deal with Moonbound Mining in South Africa
Venture Global rolls out first LNG carrier in nine-ship fleet But company keeps it blurry on its ship purchases
Gram Car Carriers gives shareholders more time to mull Aponte offer MSC is looking to take over the car carrier lessor for $700m
Chinese newcomer mulls order for 30-bulker haul Beijing shipowner previously bought 10 resale ultramaxes and a secondhand supramax
Venezuela drawing on shadow fleet tankers to keep oil flowing into Cuba Shrinking PDVSA fleet means other vessels are being brought in
New VLCC terminals not needed in US Gulf as exports rise, say brokers Increased efficiencies mean new projects are not seen as essential to keep crude flowing
Japanese asset freeze on shipless SCF subsidiary Sun Ship Management has previously been targeted by US, EU, and UK regimes
Wista UK master mariners urge all to inspire next generation 'Catch the trade winds in your sails. Explore, dream, discover'
Belships adds four bulkers to fleet with purchase and charter deals Norwegian owner has made its first move to exercise a purchase options on a leased bulk carrier
Adhira Shipping bags big lithium mining contract after management buy-out Dubai bulker company seals deal with Moonbound Mining in South Africa
Sovcomflot crew save seafarers from sinking tanker off Yemen Sanctioned Russian company says seafarers were picked up from life raft after vessel abandoned
'Substantial amounts of money': Evangelos Marinakis explains why he is bucking the trend in LNG This week's Streetwise takes a look at Evangelos Marinakis' star turn at Marine Money Week, and why a bet on gas is happening his way
Norwegian international registry pushes for growth after strong comeback Bergen-based open registry boasts a fleet of more than 700 ships after several years in the doldrums
Sovcomflot subsidiary hit by asset freeze in symbolic move from Japan Sun Ship Management has previously been targeted by US, EU, and UK regimes
Cedar LNG seals final investment decision on $4bn FLNG project Samsung Heavy Industries set to start work on a second LNG floater
Houthis fire 'new ballistic missile' at MSC ship in potential game-changing attack Militant group unveils fresh weapon as its assaults on world trade take fresh step
Chinese dry bulk newcomer mulls order for up to 30 newbuildings Beijing-based firm previously bought 10 resale ultramax newbuildings and one secondhand supramax
LNG market in 'fragile equilibrium', gas industry body says Number of sector participants growing and 'no longer a game' for only big companies
Maersk lays down $150,000 per day to charter newbuilding as boxship market burns bright No let-up in soaring container market forces Maersk to cough up for short-term fixture
$10bn tension: French shipowner flight risk rising as tonnage tax dragged into general election debate Reed Smith lawyers argue a quick gain from tax reform may prove elusive after election
Hafnia and Scorpio are set for 'stellar free cash flow yields', says Pareto Broker also initiated coverage of d'Amico International Shipping with a buy recommendation
Cleaned-up suezmaxes could push LR2s off rate rollercoaster, Gibson says UK broker says traditional divergence between crude and product markets in third quarter could intensify trend
SSY hires ex-Maersk Broker man to run new Japan office Shipbroker has been on a mission to build up its Japan presence with a focus on project business
Iran saves on VLCC storage costs with $660m of new tank facilities Storage complexes unveiled as part of $2bn revenue drive
Chinese giant Cosco explores first Japanese newbuilding order in two decades Shipping giant is said to be enquiring about at least 10 shipbuilding slots for capesize bulk carriers
Hapag-Lloyd pulls 'single largest lever' in decarbonisation drive as it teams with ZeroNorth Partnership launches 'digital solution' to navigate energy transition
Final investment decision secured for $4bn FLNG project Samsung Heavy Industries set to start work on a second LNG floater
Cleaned-up suezmaxes could push LR2s off rate rollercoaster, Gibsons says UK broker says traditional divergence between crude and product markets in third quarter could intensify trend
'Overheated' capesize values make secondhand investments a risky bet, says Drewry Current pricing levels unlikely to generate enough investment returns, shipping consultancy claims
Master reports near miss in Gulf of Aden as Houthis keep up pressure on shipping Incident is latest in a string of attacks on shipping in the Gulf of Aden and southern Red Sea
TotalEnergies narrows shortlist for LNG bunker vessel newbuilding New entrants are taking an interest in emerging sector, but it comes at a price
Idan Ofer-backed 'zero emission' electric vessel completes first cargo delivery in Singapore The successful carriage 'showcases the immense potential of electric vessels for a cleaner maritime future'
John Fredriksen's Edda Wind raises $38m in private placement 'to explore further growth' Offshore wind operator says it wants to revitalise its liquidity position following operational setbacks
One centenary, two christenings and the fourth generation: John T Essberger celebrates 100 years in business Three generations of the von Rantzau-Essberger celebrate 100 years anniversary
Safety lapses uncovered on ship involved in Singapore's worst oil spill in over a decade Shipowner says it is working to rectify deficiencies found in wake of collision with bunker tanker
20 of world's biggest companies collaborate to modernize bar code As the bar code turns 50, many large companies are working with GS1 US to create a more effective product code process, which may result in switching from bar codes to QR codes.
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