Vessel used in trades that funded Houthi arms hit by U.S. and U.K. sanctions As Houthi attacks on merchant ships continue with a seemingly abundant supply of Iranian weaponry, sanctions announced today by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC), in
Majestic orders 10 new 39-meter Incat Crowther passenger ferries Majestic Fast Ferry Pte Ltd., which operates between Singapore and Bataam, Indonesia has commissioned Incat Crowther to design 10 new second generation 39-meter passenger ferries as the basis of its future fleet.
Stena Line launches new Dublin-Liverpool freight service Stena Line, a leading ferry operator in Sweden, has officially launched its latest freight service between Dublin and Liverpool (Birkenhead). According to a statement, this addition is anticipated to bolster the company's freight volumes following a successful year in 2023. The inaugural sailing departed from Dublin Port's Terminal 5 at 6:30 am on 15 February 2024. The return service will operate
KEZAD Group partners with Sam Force for retail centres development KEZAD Group, a leading developer of integrated and purpose-built economic zones, has announced two land lease agreements with Sam Force Trading, a well-established developer and operator of real estate assets in Abu Dhabi. These agreements represent a key milestone in KEZAD's efforts to enhance its retail infrastructure by establishing dynamic retail community centres. "Our agreements with Sam Fo
PIL partners with SGTraDex in MoUs with leading bunker suppliers Pacific International Lines (PIL), in collaboration with Singapore Trade Data Exchange (SGTraDex), has recently entered into Memorandums of Understanding (MoUs) with bunker suppliers TFG Marine, KPI OceanConnect, and bp. These agreements aim to explore opportunities in digitalizing the bunkering supply chain, advancing the adoption of electronic Bunker Delivery Notes (eBDN) solutions, and boostin
Port of Piraeus Authority inks MoU with Port of Guangzhou In a special event held at its premises, the Port of Piraeus Authority (PPA) established a partnership with the Port of Guangzhou in China, which ranks among the top 10 largest commercial ports worldwide. The Memorandum of Understanding (MoU) was formally signed by Panagiotis Tsonis, deputy CEO of PPA, and Song Xiaoming, deputy general manager at Guangzhou Port Group. According to a statement, th
CMA CGM, COSCO, Evergreen and OOCL extend OCEAN Alliance to 2032 On 27 February, the Chief Executive Officers of the CMA CGM Group, COSCO SHIPPING, Evergreen, and OOCL gathered in Shanghai to sign a Memorandum of Understanding, extending the operational cooperation of the OCEAN Alliance for an additional five years until 2032. As a sustainable partnership, the OCEAN Alliance remains committed to supporting customers' supply chains and businesses by providing t
Enaex and NYK partner to explore low-carbon ammonia for ships In January, Enaex, a prominent Chilean ammonium nitrate producer, and NYK Bulk & Projects Carriers (NBP), a member of the NYK Group, inked a memorandum of understanding (MoU) to jointly research the feasibility of supplying low-carbon ammonia to ships powered by ammonia. NBP plans to construct 10 to 15 ammonia-fueled Handymax bulkers in the late 2020s and beyond, primarily for transporting copper
DP World joins forces with Masdar to power ports with renewable energy DP World has entered into a partnership agreement with Masdar, a renowned clean energy company based in Abu Dhabi, to introduce renewable energy systems across its port operations in the Middle East and Africa. The objective of this agreement is to promote the widespread adoption of renewable energy and battery energy storage systems (BESS) within DP World's global supply chain. For three years,
MSC enhances JAXPORT-West Coast South America connection MSC Mediterranean Shipping Company, a prominent ocean carrier, has merged two existing container services to enhance connectivity between the Jacksonville Port Authority (JAXPORT) and the West Coast of South America. This integration has led to direct port calls, offering new weekly links between Jacksonville and ports in Ecuador, Peru, Panama, and Costa Rica. "These new connections are another s
Port of Oakland January 2024: Imports up 8.2%, exports rise 9.3% The Port of Oakland continued its upward trend in container volume in January, which began in 2023. In January 2024, full imports surged by 8.2%, with the Seaport processing 72,081 TEUs (twenty-foot containers), compared to 66,637 TEUs in January 2023. "Imports benefitted from strong consumer demand, as well as the normal seasonal uptick each January prior to factories in Asia closing for the Lun
The year ahead in green tech What can shipping expect in terms of green technology breakthroughs in the months ahead? The final installment in Maritime CEO's annual outlook. "The year 2024 will be the first year in which it will become clear what can be achieved in the short term and what can only be achieved in the long term in ...
Höegh Autoliners exercises buy option for car carrier, offloads another Norwegian car carrier player Höegh Autoliners has reached an agreement for the sale of the Höegh Chiba and exercised an option to buy the Höegh Jeddah car carriers. The 6,000 ceu Höegh Chiba was built at DSME shipyard in 2006. The vessel was bought for a price of $61m and is expected to be debt-free ...
BP takes final option on Golden Energy Offshore PSV Oaktree-backed Norwegian owner Golden Energy Offshore Services (GEOS) has clinched a six-month extension for its large platform supply vessel (PSV) . The seven-vessel strong Oslo-listed outfit said the 2019-built unit has now been fixed until October 24 this year. The ship has been on charter with BP since October 2022, with most recent extension dating ...
New container shipping line established in Saudi Arabia A new feeder and short-sea shipping company has been launched in Saudi Arabia to link the kingdom with other key ports in the Red Sea. The Riyadh-based Folk Maritime is headed up by former Hamburg Süd boss Poul Hestbaek, who left the Maersk company in August last year. Folk Maritime describes itself as Saudi Arabia's ...
CMB's takeover of Euronav hit by investor hurdle in the US Funds managed by FourWorld Capital Management have filed a complaint in a US District Court regarding Compagnie Maritime Belge's (CMB) offer to purchase all outstanding ordinary shares of Euronav from US holders. The Saverys family-controlled company said that FourWorld, an investment adviser firm, has increased its stake in Euronav from just under 1% to 2.41% ...
Ocean Alliance deal extended to 2032 The Ocean Alliance group of container carriers has extended their partnership for another five years. Founded in 2017 under a 10-year deal, the liner grouping comprised of CMA CGM, Cosco Shipping, Evergreen and OOCL has agreed to continue their vessel-sharing agreement until the end of March 2032. The latest agreement was not a baseline assumption ...
Prysmian firms up $2.4bn UK cabling deal Italy's Prysmian has signed a contract worth around €1.9bn ($2.4bn) for the delivery of a major HVDC cable system for the Eastern Green Link 2 network development project that will connect Scotland and England. Eastern Green Link 2 is a planned HVDC submarine and underground cable link of around 500 km route length between Peterhead ...
Urgent towage of stricken Lebanese vessel in Red Sea remains up in the air The risks of an ecological disaster in the Red Sea are growing as negotiations get underway to safely remove the ship that has taken the biggest hit so far in the Houthis' four-month campaign to disrupt shipping in the region. Concern is growing that the could sink. The Lebanese-owned, Greek-managed, Belize-registered ship has been taking ...
Economou buys more shares ahead of proxy clash at OceanPal Greek shipowner George Economou has upped his stake in the Palios family-linked dry bulk player OceanPal ahead of an upcoming boardroom challenge. The latest filing with the US Securities and Exchange Commission shows Economou has accumulated an additional 1% stake in the Diana Shipping spinoff via his investment vehicle Sphinx and now owns 12.1% of ...
Noble bags one-well contract for jackup rig Offshore driller Noble Corporation has been awarded a one-well contract with oil and gas player DNO Norge for the ultra-harsh environment jackup rig . The rig will drill an exploration well on production license 1086 offshore Norway. The contract is expected to begin in August 2024, with an estimated duration of 40 days. The dayrate ...
Wallenius Wilhelmsen orders four more methanol-fuelled, ammonia-ready newbuilds Norway's Wallenius Wilhelmsen has declared options to build four additional methanol-fuelled and ammonia-ready car carriers. This latest deal for the so-called Shaper Class vessels, developed in collaboration with ship designer Deltamarin, brings the total number of car carriers currently on order with Jinling Shipyard to eight. Wallenius Wilhelmsen also retains options for a further four ...
Records tumble for vintage suezmax prices Tankers that in previous cycles would have become extinct are being pressed into action for ever longer periods with valuations for vintage tonnage smashing records. Broker Gibson has news of a new record paid for a 2007-built suezmax. "Not quite a fossil but it is quite astounding what some of these older ladies are achieving ...
BP looking to recover over $530m in damages from McDermott Energy supermajor BP has started legal action against US subsea and deepwater engineering and construction player McDermott, seeking damages for failing to fulfil its contractual obligations on the Greater Tortue Ahmeyim (GTA) project offshore Mauritania and Senegal. Kosmos Energy, BP's partner in the GTA project, revealed this information in its fourth quarter results and stated ...
Floatel secures vessel contract with Equinor Oslo-based accommodation vessel specialist Floatel has signed a contract with Equinor for the deployment of the . The 2010-built vessel will provide accommodation and support services at the Åsgard B facility on the Norwegian Continental Shelf. The contract is set to start in March or April of 2025, and last for six months with Equinor ...
World's fastest-growing ship register doubles in size in the space of one month The world's fastest growing shipping register has doubled in size in the space of just one month. Gabon, a small Central African nation on the Atlantic coast, was last year's fastest-growing shipping registry, a growth trajectory that has been massively boosted in the opening weeks of 2024 with the reflagging of a swathe of the ...
Grey fleet set to become darker: BRS Luxembourg-headquartered broker BRS has warned the grey fleet is likely to become darker as more focused sanctions squeeze Russia's export options. The grey tanker fleet - ships hauling Venezuelan, Iranian, North Korean and Russian cargoes - has grown from around 400 ships to more than 700 units in the two years since Russia's full-scale invasion ...
Shipping of plastic pellets faces greater scrutiny The International Maritime Organization (IMO) has agreed new guidance on several environmental issues following the latest meeting of the regulator's sub-committee on pollution prevention and response, details of which will be submitted to the Marine Environment Protection Committee (MEPC) for approval next month. The sub-committee discussed the safe transport of plastic pellets by sea, best ...
MPC Containerships 'optimistic' about medium-term outlook Oslo-listed MPC Containerships is optimistic about the medium-term outlook for boxships, especially for intra-regional trades. The company has $1bn contracted...
US sanctions two tankers linked to Iranian armed forces and Houthis The US has sanctioned two crude oil tankers and their owners, one for ties to the IRGC and the Houthis...
Tentative signs of growth in Red Sea transits despite attacks A second consecutive week of positive growth in vessels transiting the Bab el Mandeb suggests that Red Sea traffic is...
Alliance reshuffle could still see further realignments The Ocean Alliance and Gemini Cooperation have secured their futures. This could see the remaining The Alliance lines forced to...
US courts Asian allies to rebuild shipbuilding prowess as China powers ahead Pentagon strategy seeks to revive US maritime manufacturing in an escalating economic and security competition with China
Alternative-fuel newbuilding orders decline as those for bulkers and tankers rise Already large liner orderbooks have seen commodities carriers, with conventional fuel propulsion systems, make up the greater share of newbuilding...
India's VOC port invites bids for box terminal duo Project includes construction and 45-year concession for two 2m teu capacity terminals
US fund launches legal bid to block CMB takeover of Euronav US fund investor FourWorld Capital Management, which has amassed a 2.4% stake in Euronav, has accused CMB of disseminating false...
Economou boosts OceanPal stake to more than 12% OceanPal is one of four US-listed shipping companies in which Greek magnate has built up a position lately
Wallenius Wilhelmsen doubles vehicle carrier orderbook as it declares options With Wallenius Wilhelmsen's latest order, 195 pure car and truck carriers have been ordered since 2020
MOL, K Line push on with carbon capture projects MOL is working on a second CCUS project in Australia. K Line has brought in strong players to its Malaysian...
Ocean Alliance extends membership through to 2032 As the other alliances face a shake-up, the Ocean Alliance has agreed a five-year extension from 2027
Daily Briefing War halves Ukraine's maritime trade | Costs mount as UN's FSO Safer operation remains on hold in Yemen | West...
Combined MSC service stretches from Baltics to South America's West Coast The Port of Jacksonville said the first ship on the newly combined trans-Atlantic and north-south service from Mediterranean Shipping Co. called the port this month.
Jackson out as CEO of Knight-Swift; CFO Miller promoted to top job The leadership change atop the largest US truckload provider will likely come as a "significant surprise" to the market, according to one industry analyst.
Managing transshipment hubs key to success of Gemini alliance: Drewry The hub-and-spoke model designed by Maersk and Hapag-Lloyd will depend heavily on the reliability of shuttle and transshipment operations to and from mainline terminals, according to the maritime consultancy.
Hamburg follows North Europe port rivals with drop in 2023 volume A faltering German economy, weak consumer demand and geopolitics are having a negative effect on Europe's largest container gateways.
Market headwinds, industry inertia put visibility cooperative on hold Big name visibility providers, including project44 and FourKites, banded together in 2021 to standardize data elements for customers, but the initiative has been shelved due to a lack of progress.
Volume uncertainty shrouds carriers' March pricing plans on Indian trades Forwarders believe carriers are now a bit uncertain about their ability to secure enough cargo from shippers for spot bookings given that some exporters are known to have put their orders on hold because of high ocean rates and other challenges.
Norwegian Cruise stock surge adds $1.3bn to market cap as bookings reach 'all-time high' Miami cruise giant expects adjusted profits to double in 2024
US blacklists first shipowner for supporting Houthis since terrorist designation Ship accused of ship-to-ship transfer with another sanctioned tanker
FuelEU Maritime: The simple formula turbocharging investment in shipping ABS chief executive explains how EU regulation will shape shipping's lexicon
US blacklists first shipowner for supporting Houthis since terrorist designation Ship accused of ship-to-ship transfer with another sanctioned tanker
Ninety-five newbuildings needed to cover LNG project demand, says GTT Company reveals that QatarEnergy is expected to boost its Q-Max orders to 18 vessels
Germany's latest two FSRUs line up to start work First ship goes on-site at Lubmin facility while second awaits call up for delayed Stade terminal
Havila financial adjustments drag on fourth-quarter performance Company reverses depreciation and adjusts debts
Eni's Congo FLNG project starts loading initial cargo onto GasLog LNG carrier West African nation becomes newest member of LNG producers' club
US blacklists tanker shipowner as VLCC with $100m cargo heads to China Iranian defence ministry accused of organising the shipment on the Panama-flagged Kohana
Star Bulk struck again? Shipowner linked to capesize sale amid soaring vessel values US-listed owner understood to have struck its 18th secondhand ship deal in a year
Centerline snaps up JMB Shipping to boost Jones Act tank-barge capacity Takeover will see JMB's 'highly desirable' assets bolted on to buyer's fleet
Hoegh Autoliners in the money, selling a ship and grabbing another Oslo-based car carrier company divests vessel while exercising purchase option on ship it already operates
Eight-year-old VLCC sells for close to newbuild price as asset values run hot Crude carrier is last of a quartet of ships jointly owned by Awilco and TRF
Shadow fleet 'tops 700 ships' as sanctions squeeze out Western players Shipbroker BRS says vessels involved in hauling sanctioned cargoes amounts to 8% of active global fleet
Japan tops league of world's most valuable shipping fleets VesselsValue analysis shows China is not far behind as the Far East continues to dominate
Higher costs drag down full-year profit at Algoma Central Canadian shipowner expects fleet renewal plan to help drive improved performance
KNOT marketing shuttle tankers for charter or sale as Brazilian market tightens Aberdeen-based specialist bullish on employment prospects as demand rises, but could offload tonnage
MOL's Arc7 LNG carriers for Russia delayed, but not sanctioned Ship deliveries for Arctic LNG project set back due to labour issues at South Korean yards, owner says
'False and misleading materials': US shareholder FourWorld seeks to block CMB's Euronav takeover John Addis-founded fund trying for injunction to stop Saverys family buying up remaining stock in tanker owner
Low-profile London shipowner secures series of charters as it blazes fleet renewal path Ashley Group Holdings Limited has shipping roots going back a century
Plummeting cargo volumes from Houthi Red Sea attacks risk further destabilising region, says Bimco Shipping organisation suggests 21% drop in regional cargo volumes due to Houthi attacks and vessels avoiding the region
Trio of big names in LNG jump into methane abatement group Top four technology providers identified to produce feasibility studies
Jinhui Shipping's results hit by big impairments on older vessels Shipowner is making moves to renew its bulker fleet, for which book values outstrip earnings potential
Boss Lars Skarsgard builds Belships stake with share buys CEO of bulker owner has a holding valued at $11.5m if options are included
Asset-hungry investor Bridgefort Maritime ready to treble container ship fleet Investment firm sets ambitious target of a dozen ships with backing of sovereign wealth fund
NCL says no cholera on board as Norwegian Dawn docks in Mauritius Vessel had been barred from Port Louis over fear of outbreak
Ninety-five LNG carrier newbuilding needed to cover LNG project demand, says GTT Company reveals that QatarEnergy is expected to boost its Q-Max orders to 18 vessels
CMA CGM, Cosco and others agree to extend Ocean Alliance pact for five more years CEOs sign new deal as Rodolphe Saade promises strength through diversity
Golden Energy Offshore mulls dividend after finishing 2023 in the black Owner teases dividends but is noncommittal on timing as profitability and backlog grows
Siem Offshore shrugs off seasonal slowdowns thanks to sector upturn Kristian Siem company back to profitability as demand for vessels rises
VLCC owners desperate after Brazilian cargo receives 12 offers amid rate plunge Brokers report keen interest in loadings as fixtures for March lag usual levels
Has Star Bulk struck again? Shipowner linked to capesize sale amid soaring vessel values US-listed owner understood to have struck its 18th secondhand ship deal in a year
Houthis link Rubymar salvage to Gaza aid as stricken vessel leaks fuel Yemeni group says general cargo ship could be towed if humanitarian conditions met
CMA CGM faces bidding war for logistics takeover target French giant has already upped its offer for London-listed logistics firm once
Wallenius Wilhelmsen doubles up with order for more methanol car carriers Norwegian owner declares option for next-generation Shaper Class vessels
Core Power again taps US Navy expertise as it grows leadership team Appointment follows hiring of former Nuclear Regulatory Commission chief of staff
Tanker bottleneck grows off Venezuela as PDVSA struggles with cargo delivery National oil company seeking to ramp up shipments
GTT embarks on hunt for new CEO as returns for 2023 soar Company adds new Danish outfit to its smart shipping line-up
MPC Container Ships profit falls as it takes impairment loss Owner sold 2,800-teu Clarita for $10.3m
Marinakis' Capital Group linked to new top-dollar LNG carrier quartet at Hyundai shipyard Greek shipowner's 174,000-cbm newbuildings scheduled for delivery in 2028
Greek shipowner Thenamaris linked to lucrative sale in red-hot capesize market Company said to be selling mid-aged bulker at a profit after owning vessel for nine years
Cyprus Sea Lines says fishing net was catalyst for Aussie bulker ban Bulker operator also blames communication problems with authorities on time zone differences
Higher costs help drag down full-year profit at Algoma Central Canadian shipowner expects fleet renewal plan to help drive improved company performance
Marinakis' Capital Group linked to new top-dollar LNG carrier quartet at Hyundai yard Greek shipowner's four 174,000-cbm newbuildings scheduled for delivery in 2028
Methanol move a 'leap of faith', says Unifeeder's Jesper Kristensen Boss of DP World-owned feeder operator hopes gamble to drive green transitions will pay off
VLCC giant CSET has the power to boost balance sheet as earnings jump, says tipster Simply Wall Street says borrowings can be handled easily as Chinese owner's fleet expands
Cargojet sees strong volumes after 2023 fleet reversal Canadian operator Cargojet sharply scaled back fleet investments last year to stabilize the bottom line but reports the Q4 upturn in air cargo business carried over to the new year.
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