Construction of first USCG polar security cutter set to start While shipyard work on the Coast Guard's first polar security cutter has been under way for quite some time, thus far it has been on prototype modules. Now the project is set
New multipurpose ship joins Grimaldi fleet With the delivery of the Great Cotonou on 20 December at the Hyundai Mipo Dockyard Co. Ltd shipyard in Ulsan, South Korea, the Grimaldi Group has completed its fleet of six innovative G5-class ro-ro multipurpose vessels. Measuring 250 meters in length with a beam of 38 meters and a deadweight of 45,684 tonnes, Great Cotonou and its sister ships were designed to meet the specific requirements of t
Geopolitical Risk Outlook: Maritime Industry Faces Tumultuous Future As the global landscape becomes increasingly fragmented into distinct trading blocks, the maritime industry finds itself at a crucial crossroads, grappling with a myriad of challenges that could shape its future for years to come.
Maersk unveils new service to enhance Mediterranean network Danish ocean carrier Maersk is consolidating the SLH and SLZ services into the new SLN - MEDITERRANEAN SEA C. The new direct service between East Mediterranean and West Mediterranean will reduce transit times for both export and import customers, according to the company, improving time to market. The SLN service rotation will include: Mersin (Turkey) - Haifa (Israel) - Alexandria (Egypt) - Fos S
Yang Ming unveils 2025 Transatlantic service network Taiwanese box line Yang Ming announced its 2025 Transatlantic services, set to commence in February 2025. These new offerings include three service routes connecting major ports in Continental Europe with the United States East and West Coasts. Here are the details of the 2025 Transatlantic service rotations: North Europe - US East Coast & West CoastAL2 (Trans-Atlantic Loop 2) Southampton, United
FESCO ship capsizes at Istanbul berth Fifteen crew on the FESCO-owned container vessel Amnah were forced to jump ship as the loading of the vessel failed leading the ship to capsize. Ten crew were rescued by emergency services and five others swam ashore unaided as the vessel listed sharply before coming to rest on its port side dumping freight containers into the water. One crew member sustained minor injuries and was transported to
Enhanced Role of Spanish Ports Amid Red Sea Rerouting In the intricate web of global maritime logistics, Spanish ports have emerged as pivotal nodes, increasingly instrumental amid the complexities introduced by rerouting due to geopolitical tensions, environmental issues, or infrastructural evolutions worldwide.
Mediterranean Container Market Analysis: Unifeeder sees largest capacity growth
CMA CGM updates reefer PSS from Chile and Peru CMA CGM has announced an update to its Peak Season Surcharge (PSS) from Chile and Peru, which will be effective on 10 January 2025. The updated surcharge will be implemented for cargo originating from all the ports of Chile and Peru and destined for North Europe, Mediterranean, North Africa, Middle East Gulf, and Indian Subcontinent. The surcharge, which will apply only to reefer cargo, is set at
Frontloading continues to put pressure on Transpacific rates Transpacific ocean rates increased slightly last week and are about 15% higher than at the start of December on successful mid-month General Rate Increases (GRIs). Rate increases and reports of full vessels this far ahead of the Lunar New Year probably reflect shippers continuing to pull forward volumes ahead of President-elect Trump's promises of tariff increases next year - with Trump this week
Yang Ming enhances its fleet with new vessel order Taiwan's major ocean carrier Yang Ming has ordered 13 new container vessels, each with a capacity of 8,000-15,000 TEUs. The board of the company approved the newbuilding order on 20 December aiming to optimize its service network and enhance fleet competitiveness. The new boxships will replace 20-years-and-older ships of 5,500 TEU to 6,500 TEU capacity on main service routes. Additionally, the ne
Trump's Panama Canal threat a shot across Beijing's bow President-elect Donald Trump's latest social media broadside is aimed at China's growing economic influence and is likely a sign of the expected deteriorating trade relations between the two countries.
COSCO Shipping launches new Indonesia route On 23 December, New Golden Sea, a subsidiary of COSCO SHIPPING Holdings, inaugurated the maiden voyage of its new Indonesia route, YIX, departing from Yangpu, Hainan. This marks the launch of another shipping route linking China with ASEAN countries. The route will deploy three 1,700 TEU vessels with consistent carrying capacity to serve ports in Yangpu, Guangzhou, Indonesia, and Singapore. The Y
Diana Shipping extends post-panamax charter at reduced rate New York-listed Greek bulker owner Diana Shipping has won an extension of a time charter contract for one of its post-panamax vessels with Belgium's Cobelfret. Diana Shipping agreed on an extension for its 2012-built, 98,697 dwt bulker Amphitrite. The original deal for the vessel started on November 10, 2022, and was extended in early January ...
JERA and BP-led partnerships win Japanese offshore wind auction Japan's industry and land ministries have selected JERA and BP-led consortiums as operators for two offshore wind blocks in the country's third auction round. The JERA-led consortium, which also includes Green Power Investment and Tohoku Electric Power, won the 615MW wind farm on the southern side of the Japan Sea off the Aomori prefecture. The ...
Dolphin Drilling wins $100m in Nigerian court case Semisub rig owner Dolphin Drilling has won a prolonged court spat with Nigerian oil company General Hydrocarbons Limited over a contract termination. The disagreement between the two companies started in April this year when Dolphin Drilling terminated a contract for the Blackford Dolphin rig with the Nigerian company over missed payments. The Nigerian company took ...
TotalEnergies adds more time to Northern Drilling semisub deal French energy major TotalEnergies has exercised an extension option for Northern Drilling's semisub Deepsea Mira. John Fredriksen-controlled Northern Ocean, a semisub rig spin-off of Northern Drilling, won the extension back in August. The rig, managed by Odfjell Drilling, has been working in Namibia under a multi-country contract with TotalEnergies. The firm term of this contract ...
Golar LNG buys remaining stake in FLNG unit for $90m Floating liquefied natural gas (FLNG) specialist Golar LNG has acquired minority ownership interests in the 2.4 mtpa FLNG Hilli from Seatrium and Black & Veatch. The acquisitions comprise all third-party interests in the asset, including 5.45% common units, 10.9% Series A, and 10.9% Series B shares. The transaction is equivalent to around 8% of the ...
US Gulf Coast ports expanding to handle continued volume growth With volumes likely to increase again in 2025, new port infrastructure across the region should help maintain fluidity throughout the coming year.
Mexico curtails duty-free fulfillment option for apparel, textile importers The action, announced last week, is likely to result in US e-commerce brands shifting their fulfillment back to the US or switching to fulfillment providers in Asia, sources have told the Journal of Commerce.
Restabilized trans-Atlantic facing dual strike, tariff threats The market's normal tranquility is threatened by President-elect Donald Trump's promise to raise imports tariffs, as well as a potential second strike by the International Longshoremen's Association.
Gemini to bulk up capacity on India-Europe trade amid rate push pressure Industry observers believe carriers on the trade lane could struggle to manage the huge influx of capacity, thus forcing them to undercut each other on pricing to maximize loadings.
Golar LNG buys remaining stake in floating LNG unit Deal will resolve all remaining business interests with Singapore shipbuilding group Seatrium
Can Donald Trump derail progress at the IMO after 'net-unhelpful' Joe Biden? Experts are hopeful that the climate talks sceptic won't get in the way of progress
Container shipping set to end year with near-zero idle fleet 2024 has been surprisingly good for container shipping thanks to booming demand
Video: Dramatic moment ex-Russian boxship capsizes in port Crew evacuates ship before it fell to its side at Ambarli port near Istanbul
FTV Capital fund launches bid to acquire maritime tech firm Windward for $271m Maritime intelligence platform listed on the London Stock Exchange in 2021
Marnavi orders $60m chemical tanker pair from China Naples-based shipowner adds to orderbook with first order in Asia since 2017
Tonnage-hungry Navigator Gas linked to German ethylene carrier trio World's biggest owner of small gas carriers is said to be spending about $85m on the ships
Cosco Shipping Specialised Carriers granted court protection from $269m lawsuit Chinese operator sued after its ship wiped out paper mill's trestle bridge
Russian cargo ship sinks in the Mediterranean after engine room explosion Two seafarers missing from the 16 crew members of 9,500-dwt Ursa Major
Seatrium bags newbuild deepwater production unit contract from BP Singapore yard group secures fourth floating production unit project in Gulf of Mexico
Singapore court grants Cosco Shipping Specialised Carriers protection from $269m Indonesian lawsuit Chinese operator sued after its ship wiped out paper mill's trestle bridge
All-Korean capesize deal shows HMM and Korea Line Corp switching sides on S&P fence A 2010-built bulker adds grist to the capesize secondhand mill amid surprisingly resilient activity for ailing segment
Port of Long Beach nears record TEUs The Port of Long Beach is on course to handle 9.6 million TEUs in 2024, which would top record volume set in 2021.
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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