GAZ-SYSTEM collaborates for floating LNG terminal in Port of Gdansk GAZ-SYSTEM has entered into agreements with the Port of Gdansk and the Maritime Office in Gdynia to collaborate on a crucial investment project in the Port of Gdansk: the establishment of a floating LNG terminal of the FSRU type. This investment aims to enhance Poland's energy security by diversifying its natural gas supply sources, with the terminal projected to fulfil over 30% of the country's
KEZAD Group expands Abu Dhabi metals facility with Ducab Metals Business Khalifa Economic Zones Abu Dhabi - KEZAD Group, the largest operator of integrated and purpose-built economic zones, and Ducab Metals Business, a leading regional supplier of metal solutions, have signed a lease agreement to expand Ducab's existing manufacturing facility in KEZAD. The 50-year lease agreement was signed at the Make It In The Emirates Forum 2024, in the presence of Mohamed Al Khada
CMA CGM opens new agency in Vanuatu CMA CGM, the French carrier, has announced the opening of its new agency in Vanuatu, effective 20 May 2024. The new CMA CGM Vanuatu Limited office will be located at: 1st Floor, Govant Building, Kumul Highway, Port Vila, Vanuatu. This new agency will enhance CMA CGM's presence within Intra Oceania and improve the quality of service provided to its customers. If you liked this post, please conside
Port of Melbourne handles 270,000 TEUs in April The Port of Melbourne has announced its trade figures for April, revealing a substantial 11.7% year-on-year increase in container throughput, reaching a total of 270,000 TEU. Full container import volumes (excluding Bass Strait) showed a 7.9% increase compared to the previous year, with significant rises in furniture, domestic appliances, non-electrical machinery, and paperboard. Similarly, full
Yang Ming predicts rare fifth consecutive profitable year Yang Ming Marine Transport's management said at the company's shareholders' meeting that the company anticipates 2024 to become a rare fifth straight profitable year. In 1Q 2024, Yang Ming's net profit tripled to US$298 million, a result that exceeded expectations. Yang Ming's general manager Patrick Tu said that the Taiwanese liner operator's last long profitable stretch was in 2002 to 2008. Tu
Boluda Towage acquires SMS Towage Boluda Towage has signed an agreement to acquire the British company SMS Towage. The signing ceremony took place in Hessle (Hull). This acquisition includes taking over SMS's harbour and offshore towage services, marine operations, management, office staff, crew, and fleet based in the United Kingdom. SMS Towage has been operating in the UK since 1992, initially as a ship management company and,
Boluda Towage increases UK presence with SMS Towage buy The world's largest tugboat operator Boluda Towage has signed an agreement to acquire British company SMS Towage. The acquisition involves taking over the harbour and offshore towage services and marine operations, together with the management, office staff, crew, and fleet, based in the United Kingdom. SMS has been operating in the UK since 1992, first ...
New name in Chinese ship leasing emerges A new Chinese ship leasing name has emerged. State-backed CHN Energy has bought 11 bulk carriers from Citic Financial Leasing and entered the sector. CHN Energy is China's largest coal mining and utility firm, created seven years ago by the merger of Guodian Corporation and Shenhua Group. The 11 ships include 10, shallow draft, 65,000 ...
Wallenius Wilhelmsen sells Melbourne car terminal Oslo-listed car carrier operator Wallenius Wilhelmsen is selling its Melbourne International RoRo & Auto Terminal (MIRRAT) for A$332.5m ($221m) to Australian Amalgamated Terminals, a subsidiary of Australia's largest logistics provider Qube. MIRRAT is Australia's largest car and roro terminal. The first phase launched in April 2016, after Wallenius Wilhelmsen won the bid to design, construct ...
Tug accused of February's massive Caribbean oil spill arrested on separate charges in Angola Nearly four months after Tobago suffered one of its worst environmental disasters, the vessel alleged to have been involved has been tracked down thousands of kilometres away in another continent and arrested on separate charges. On the morning of February 7, local authorities detected an oil slick spewing from a capsized vessel off the west ...
North Star taps Cochin Shipyard for Siemens Gamesa-backed SOV newbuild UK OSV owner and operator North Star has sealed a deal with turbine maker Siemens Gamesa for a hybrid service operations vessel (SOV) bound for long-term charter at the East Anglia Three offshore wind farm off the Suffolk coast in England. The vessel, which will be built at Cochin Shipyard in India, adds an eighth ...
MOL to invest heavily in wind propulsion Mitsui OSK Lines (MOL), Japan's largest shipowner, has expressed its confidence in its self-developed wind propulsion system, announcing today plans to install its Wind Challenger hard sail on a further seven dry bulk and multipurpose (MPP) carriers. MOL said it is also considering installing Anemoi's Rotorsail on some of these ships in tandem with the ...
Seatrium lands $8bn in FPSO contracts from Petrobras Singapore shipyard group Seatrium has won an S$11bn ($8.14bn) contract to build two floating production storage and offloading (FPSO) vessels for Brazil's Petrobras. The vessels will each have a production capacity of 225,000 bopd and a gas processing capacity of 10 mcpd. Construction will start in the first quarter of 2025, with the final delivery ...
Subsea 7 scoops Serica North Sea contract Subsea 7 has secured a contract worth between $50m and $150m from Serica Energy, for the Belinda field development south-east of the Triton floating production storage and offloading (FPSO) vessel. The contract covers project management, engineering, procurement, construction and installation (EPCI) of a 5-km production pipeline with a piggy-backed gas lift line and an electro-hydraulic ...
Marinakis firms up VLCC options at Dalian Greek owner Evangelos Marinakis has beefed up his orderbook of very large crude carriers in China. Marinakis-controlled Capital Ship Management has contracted Dalian Shipbuilding Industry Co (DSIC) for two more LNG dual-fuel VLCCs, with deliveries expected in the first half of 2028, according to brokers. The vessels are options the company held following the initial ...
Egypt's National Navigation Company busy bolstering bulker fleet Egypt's National Navigation Company (NNC) is linked to its second deal in a month. The owner is noted purchasing the Chinese-owned Gia Ambition, an 85,000 dwt bulk carrier built in China two years ago, tabling around $39m for the ship. The move comes only a month after the Cairo-based owner ordered two similar sized bulkers ...
X-Press Feeders returns to Shanghai Waigaoqiao for 10,000 teu series X-Press Feeders has signed a letter of intent for four conventionally fuelled 10,000 teu ships with Shanghai Waigaoqiao Shipbuilding (SWS), according to MB Shipbrokers, formerly Maersk Broker. The deal covers the last 2027 container slots at SWS with the ships priced at $115m per unit. MB Shipbrokers is predicting a high level of activity in ...
Shipmanagement magazine launched ahead of Posidonia Now has never been a better time to sell the pros of outsourcing ships. Why aren't the world's managers raking in far more clients? The argument to outsource has never been stronger, and yet less than one in five ships are farmed out to managers today. What is the sector doing wrong in appealing to ...
HD Hyundai teams up with Shell to develop liquefied hydrogen carrier The move comes as the hydrogen storage and transport market is expected to grow significantly as the world transitions to...
MOL bolsters wind propulsion rollout with seven more eco-newbuilds Six dry bulkers will be equipped with the Wind Challenger hard sail systems, co-developed by MOL and Oshima Shipbuilding, which...
Daily Briefing China military drills around Taiwan test shipping's nerves | Did shipping learn its leverage lesson or is debt drop due...
State-owned CHN Energy boosts shipping foray with 11-ship purchase By taking over the ships of its domestic peer, CHN Energy Leasing has become another Chinese leasing company to venture...
How $150m shipping hedge fund has claimed an edge over rivals Oceanic Hedge Fund has an annualised return of 9.1% since 2002
Houthis claim new round of unconfirmed attacks against ships Yemeni rebel group announces operations against two tankers and a container ship in the Indian Ocean and the Red Sea
Iconic FSRU returns to Lithuania complete with new 'colours' Independence back in Klaipeda emblazoned with lighthouse 'weathervane' on its hull
Tanker sale and purchase activity slows as rates and asset values skyrocket Two MRs see big jumps in sale price as brokers report slowing sales
Genco legal win adds extra cream to capesize sales profit US-listed owner has done very nicely from aborted deal for ships it then sold for more money
'Extremely volatile': Expect the unexpected in Mediterranean tanker marker, Poten says Shipbroker says it cannot answer questions on the reach of Houthi attacks or resumption of Ceyhan exports
Greek banks break new ground: Domestic players dominate lending to Hellenic shipowners Greek lenders jump to fill the ship finance vacuum left behind by Western rivals
Yangzijiang dismisses conflict of interest concerns between shipowning and shipbuilding ventures Spun-off operation will stay separate from parent Chinese shipbuilding group
170 capesize bulkers needed to ship iron ore from world's biggest new mine project, analysts say Big demand boost coming in 2025 from Simandou mines in Guinea, according to Clarksons Securities
China 'prepares' civilian roro and ropax armada for Taiwan invasion, analysts warn Naval shortcomings could be bolstered by use of domestic ferries, researchers claim
Shipping stocks crushing S&P 500 this year, Clarksons Securities says Analysts calculate owners have seen listed vehicles rise 30% in 2024, outstripping wider market gains
State-owned Egyptian firm steps up growth with new panamax bulker buy National Navigation Co is linked to third purchase in six months
Low-profile Greek shipowner orders bulker brace at reborn shipyard Veritas Shipmanagement signs for two kamsarmaxes at $38m each in China
Steamship Mutual banks best results in more than two decades with investment rebound Underwriting returns also strong as focused P&I provider builds tonnage
Ernst Russ profit jumps as cost cuts counter falling revenue German container ship group pushed up earnings in 'successful' first quarter
Wallenius Wilhelmsen sells off $221m Australian terminal while promising future business World's largest car carrier operator parts ways with Melbourne facility
Singapore's Seatrium gets $8bn boost as Petrobras orders more FPSOs Offshore yard group is now building six floaters for Brazilian state-owned oil major
'Lack of feasibility': Bahri scraps talks over gas logistics Shipowner had been studying project with National Gas & Industrialization since 2022
MSC launches $700m Gram offer as shareholders advised to 'draw their own conclusions' Investment bank ABG Sundal Collier urges shareholders to make their own minds up on selling shares
MOL to fit wind propulsion systems to seven more newbuildings Japanese shipowner aims to have 11 vessels fitted with Wind Challengers by 2028
NYK launches first long-term biofuel test on one of its VLCCs The Tenjun will load in Singapore and use the greener bunkers for three months
Gulf Energy Maritime boosts product tanker orderbook to six with latest deal at Hyundai Mipo Joint venture adds 50,000-dwt pair
Wallenius joint venture Lakeway Link signs up for regular biofuel supply Shipowner orders HVO blend from Swedish bunker firm
LNG carrier sector sees second demolition sale of 2024 Small-scale vessel's high aluminium content and bunkers attract premium price
Singapore's Seatrium gets $8bn boost as Petrobras orders more FPSOs Offshore yard group is now building six floaters for Brazilian state-owned oil major
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