John Rothwell to be succeeded as Austal chairman by former SECNAV Richard Spencer Australian shipbuilding legend John Rothwell is to step down as as chairman of Austal Limited (ASX: ASB). He will be succeeded by former U.S. Secretary of the Navy Richard Spencer. Rothwell, the
Fincantieri signs agreement to build two new Crystal Cruises ships In another sign that the cruise industry is bouncing back, Fincantieri and Crystal Cruises have signed a Memorandum of Agreement (MoA) covering the construction of two new 690-passenger cruise ships with an
Pilbara Ports handle nearly 70 million tonnes in May In May 2024, Pilbara Ports recorded a total monthly throughput of 68.8 million tonnes (Mt), marking a 10% increase compared to the same month last year. The Port of Port Hedland handled 52.7Mt in May 2024, with 51.9Mt attributed to iron ore exports, showing an 8% rise in total throughput from May 2023. Imports at Port Hedland totalled 192,000 tonnes, a decrease of 2% from May 2023. Additionally,
INTERGIS orders Konecranes harbor crane for Port of Busan INTERGIS has placed an order for a Konecranes Gottwald ESP.5 Mobile Harbor Crane to enhance cargo handling capabilities and reduce emissions at the Port of Busan in South Korea. This Generation 6 machine will augment INTERGIS' current fleet amid significant port redevelopment efforts. Scheduled for delivery in early 2025, the crane aims to support increased bulk and general cargo traffic while pr
DCSA targets 100% digital eBLs by 2030 The Digital Container Shipping Association (DCSA) is aiming to transition the entire container shipping industry to digital bills of lading by the end of the decade, potentially saving US$6.5 billion in costs and boosting trade by up to US$40 billion. The DCSA, which now has 10 carrier members and is a member of the Future of International Trade Alliance (FIT Alliance) aiming to standardise and d
ONE announces updates on Thailand Indonesia Service Ocean Network Express (ONE) has decided to enhance its Thailand Indonesia Service (TID1) from 10 July. The updated port rotation of the service will be Laem Chabang, Thailand - Port Klang North Port, Malaysia - Jakarta, Indonesia - Port Klang West Port, Malaysia - Laem Chabang. "This adjustment is aimed at preserving service reliability, which remains our top priority. We believe this change will
Houthi fires new "long-range" missile at another MSC boxship The Houthis targeted another container vessel of Mediterranean Shipping Company (MSC) on 24 June. Houthi spokesperson Saree Yahya said on the Iran-backed rebel group's television channel that a "new missile" was fired at the 2000-built Liberia-flagged 4,657 TEU MSC Sarah V in the Arabian Sea, on 24 June. UK Maritime Trade Operations (UKMTO) stated that MSC Sarah V's master reported an explosion c
US inventory data gave no sign of rate spike New data from the US Census Bureau, covering sales and inventory changes in the United States up until the end of April 2024, indicates no signs of a sudden surge in container demand before the sharp increase in container spot rates in early May 2024. For instance, Figure 1 demonstrates that the overall trend for all three categories of US sales remained flat from the end of the pandemic through
Port of Kapellskär installs new RoRo ramp To streamline and upgrade the Port of Kapellskär, a new ramp for RoRo traffic has been installed. Sweden's Port of Kapellskär, which provides the shortest route between Sweden and Finland, is a vital link for trade and travel between the neighbouring countries. To enhance its operations, a new ramp has been added. The ramp is 25 meters wide, 16 meters long, and weighs approximately 135 metric ton
Inchcape Shipping Services expands in Trinidad and Tobago Inchcape Shipping Services, a provider of comprehensive port agency and maritime solutions, announced the opening of a new office in Chaguaramas and a bonded warehouse in Point Lisas. "With a clear vision for the future, our new facilities in Chaguaramas and Point Lisas are strategically positioned to serve the demand in the bustling hub. The Chaguaramas Bay area, known for its comprehensive repa
ORBCOMM unveils new reefer container monitoring device ORBCOMM has announced the launch of the CT 3600, the latest generation of its reefer container monitoring solution. CT 3600 is a device, designed to simplify the installation, deployment and management of reefer container monitoring for shipping lines and container leasing companies, limiting downtime and enhancing efficiency. "Maritime Internet of Things (IoT) deployments can be a challenging ex
Prince Rupert Port Authority announces new Board appointment The Prince Rupert Port Authority (PRPA) has announced changes to its Board of Directors. Pablo Rodriguez, minister of Transport for the Government of Canada, confirmed the appointment of Rod Graham. Rod Graham, president of Velocity Truck Centres in Canada, brings extensive experience as a senior corporate executive across various sectors, including financial/investment, transportation, alternati
Port Houston unveils six new hybrid-electric cranes Port Houston announced the arrival of six hybrid-electric rubber-tired gantry (RTG) cranes, marking a significant milestone in its commitment to sustainability and operational efficiency. With this latest delivery, the US port has acquired a total of 26 new RTGs since December 2023, which have been deployed across its Barbours Cut and Bayport Container Terminals. This delivery is the fourth of fi
ZIM updates Asia-US service network ZIM announced the launch of a new premium service, ZIM Central China Xpress (ZX2), connecting Central China to the US West Coast. The ZX2 service will begin operations on 3 July 2024, with ZIM claiming the service will offer the industry's fastest transit time of 13 days from Ningbo to Los Angeles. The Israeli ocean carrier has noted the following major features of the service: Dedicated berths a
Container Prices Double, Leasing Rates Triple in China The average container prices in China have reached their highest in two years, at US$3,600 this week for 40 ft high cube cargo-worthy containers in China. These prices were somewhere around US$1,700 in March - April 2024. This is a 112% increase in a span of two months. Note: The average container prices as recorded from customer interactions are yet to be reflected in the chart above. According
Wallenius Wilhelmsen inks $195m transport deal Norwegian car carrier operator Wallenius Wilhelmsen has signed a multi-year deal with an undisclosed client, described only as a 'leading industrial equipment manufacturer'. The new multi-year contract has a duration of three years, plus a mutual two-year extension option. The contract is valued at approximately $195m in total. The price tag of the deal is ...
SLB-led joint venture wins Equinor contract for all-electric subsea production systems A joint venture backed by SLB, Aker Solutions, and Subsea7 has won a contract from Equinor for an all-electric subsea production systems (SPS) project in the Fram Sør field, offshore Norway, which aims to accelerate the adoption of electric subsea technology and set new standards for increased operator control, subsea operational efficiency, and reduced offshore ...
d'Amico exercises option to buy MR tanker Italian product tanker owner and operator d'Amico International Shipping has exercised a purchase option for a 50,000 dwt medium-range product tanker. The company's operating subsidiary d'Amico Tankers used the purchase option on the 2017-built Crimson Jade built in Japan by Minaminippon Shipbuilding. The vessel was bought for a consideration of approximately $31m with delivery expected ...
Höegh Autoliners nets five-year deal to bring cars from North America to the Middle East Norwegian car carrier player Höegh Autoliners has signed a new shipping contract with a major international carmaker. The five-year deal will see the Oslo-based company transport mainly electric vehicles from the US and Mexico to the Middle East. Höegh Autoliners, which operates about 40 vessels in global trade and loads at six ports as part ...
Houthis claim to have developed long-range hypersonic missile Adding to the growing panic for seafarers transiting the Middle East, the Houthis have claimed this week to have launched a homemade long-range hypersonic missile called the Hadim-2. This solid-fuel missile (pictured) was reportedly used to target a Liberian-flagged ship, the MSC Sarah V, in the Arabian Sea. The authenticity remains unverified, and questions persist ...
Fugro awarded offshore wind site characterisation deal in Japan Dutch surveyor Fugro has been awarded a site characterisation contract for a wind farm development off the coast of the Japanese cities of Murakami and Tainai, Japan. The offshore wind farm off the country's west coast will be developed and realised by a consortium of RWE, Mitsui, and Osaka Gas. Fugro's geo-data will contribute to ...
Port efficiency gains can save 10,000 premature deaths annually Comparing the centuries-old tradition of sailing fast and then waiting to the now-banned practice of smoking onboard planes, Haris Zografakis, a lawyer at Stephenson Harwood and one of the architects of the Blue Visby Consortium, has hailed research carried out by the Hong Kong University of Science and Technology (HKUST) showing the potential lives saved ...
Centrica awards FEED contract for Rough field hydrogen shift to Wood UK consulting and engineering firm Wood has been awarded a contract by Centrica Energy Storage (CES) for the redevelopment of the UK's Rough field in readiness for future hydrogen storage. The Rough reservoir, located in the Southern North Sea, has been used to store natural gas for over thirty years and has the potential to provide ...
Mermaid scores North Sea decommissioning deal with Shell Mermaid Subsea Services has landed a multi-year engineering, preparation, removal and disposal (EPRD) wellhead severance contract with Shell in the UK North Sea. The decommissioning project will be carried out in three annual batches with the first one scheduled to begin later this year. The initial campaign includes removing wellhead protection covers from the sea ...
Northern Ocean semisub awarded contract in Namibia Offshore drilling rig owner Northern Ocean has won a contract for its 2019-built semisub Deepsea Bollsta in Namibia. The spin-off of John Fredriksen-controlled Northern Drilling said the contract, with a major operator, is for one well expected to last about 63 days. The rig, managed by Odfjell Drilling, has been operating within the Orange Basin ...
MOL invests in African logistics company Japan's Mitsui OSK Lines (MOL) is buying a 25% stake in Tanzania-based Alistair Group, a cross-border logistics company serving Sub-Saharan Africa. No price has been revealed. Alistair Group has offices in eight countries in Southeast Africa. Its business centres on cross-border logistics services for truck transport of copper, cobalt, and other critical mineral resources produced ...
Tonnage tax in the spotlight in French elections French shipowners have been forced to defend the country's tonnage tax system as it has become a talking point in the upcoming parliamentary elections with a number of parties including the frontrunner suggesting they will scrap the shipping measure. National Rally's Jordan Bardella, who is leading the polls to become the next prime minister, is ...
Further draft and transit improvements at the Panama Canal The Panama Canal Authority (ACP) has announced another increase in draft and daily transits. The maximum authorised draft was raised by another 30 cm yesterday to 14.3 m, and will increase to 14.63 m on July 11. Additionally, a new booking slot for the neopanamax locks will be added beginning on August 5, bringing the ...
Shipping must look to the skies for solutions Julian Panter, CEO of SmartSea, on how aviation technology will disrupt the maritime sector. For far too long, the maritime industry has dragged its feet, falling behind in the race for technological advancement. While other sectors surge ahead, maritime remains anchored in outdated practices. But change is on the horizon, and it's coming from aviation ...
Analysts divided over pace of US truckload recovery, while LTL gains speed Speakers at the SMC3 Connections Conference this week warned that US truckload pricing will rise slowly heading toward 2025, though others expect a faster move.
Ro/ro surges at Brunswick amid investment, Baltimore diversions: GPA Brunswick could overtake Baltimore as the busiest ro/ro port in the US, at least in the short-term, partly because operations at the Maryland port were severely restricted following the collapse of the Francis Scott Key Bridge in March.
HMM digitizes bills of lading with software provider CargoX Progress on the industry's goal of fully moving to electronic bills of lading by 2030 has been slow, but more carriers are signing with vendors to enable the migration.
Bottlenecks build as China-Europe rail network battles rising demand Ongoing demand from cargo owners unable to find space with ocean carriers is placing the rail network from China to Europe under increasing pressure with congestion building at key points.
Russia's LNG ambitions driving Arctic pollution threat, warn campaigners Clean Arctic Alliance says heavy fuel oil ban on 1 July needs tightening
Wait for autumn, Fearnleys tells struggling VLCC owners Few fixtures hold down rates, as owners struggle to get out of the doldrums
Francois Cadiou steps down as chairman of shipbroker BRS The long-time broker will continue as managing director of BRS' Paris operations
Wallenius Wilhelmsen announces new deal as busy six months loom Car carrier giant total renewals near $3bn with new $195m contract
Crystal inks $2bn deal for up to three cruise ships with Fincantieri Italian shipbuilder says order signals 'robust recovery' of sector
Rates gain stability as 20 VLGCs take the long route back to US Gulf Brokers say large gas carriers were deterred from Panama Canal transits by $1.9m slot auction price
d'Amico International takes advantage of lease option to buy MR tanker for big discount Italian owner continues to mop up its bareboat-chartered fleet at bargain prices
Francois Cadiou leaves shipbroker BRS as new president steps up Outgoing president is retiring after 34 years at the group
D Oltmann shifts management to Offen Group after expanding container ship fleet Bremen-based owner to shift management of eight large container ships to compatriot company
Panama Canal pushes up transits as it marks eight years since expansion project Waterway also increases maximum draughts of ships passing through
Profits driving newbuilding orders despite price rises, broker Xclusiv says Need for fleet renewal also forcing owners to the negotiating table, according to Athens shop
Cost and infrastructure biggest barriers to future fuels, Reed Smith says Law firm asked clients to share their concerns over shipping's energy transition
Pioneer Marine expands fleet with deal for Chinese supramax Greek owner and manager says 2014-built ship was delivered last week
Hoegh Autoliners inks new contract for North America to Middle East trades Key customer and major auto producer signs on for another five years with Oslo ro-ro giant
Cyprus flag reverses two years of decline with tonnage increase Number of companies registered under the island's tonnage tax system also grew
Egypt plots $1.2bn fuel oil and gas shipments in July to combat power cuts The government has started buying low-quality mazut oil to boost strategic reserves
Cargo ship 'hit' by sea drones in southern Red Sea Houthis have been stepping up attacks in the Gulf of Aden and Red Sea
Ship target by 'unmanned surface vehicles' in southern Red Sea Houthis have been stepping up attacks in the Gulf of Aden and Red Sea
Fire breaks out at Nigeria's 650,000-barrel-per-day Dangote Refinery Nigerian company insists there is no cause for alarm after flames and black smoke were filmed billowing from effluent plant
Greek owner Aerio emerges with Scorpio MRs amid whirlwind of tanker S&P deals After a successful round of product tanker buys, Athanassios Kossidas reinvests asset play profits in new tonnage
Crew rescued from sinking cargo ship after fire off Indonesia One seafarer suffered minor burns in the incident in the Java Sea
John T Essberger plots order for up 10 chemical tankers In the quest for dual-fuel methanol-ready vessels, the challenge for the niche tanker owner is finding shipyard slots
MSC's $700m Gram Car Carrier offer reaches 90% acceptance threshold Offer gets regulatory approval in Ukraine and Portugal
Chinese lessor auctions panamax bulker ahead of its first special survey BG Shipping confirms BG Qinzhou is leaving its fleet but denies reports that it has sold one of its own panamaxes
Brazil's 'Operation Car Wash' scandal continues to haunt Seatrium, says analyst Good news about contract wins has been overshadowed by latest investigation
NYK Line and Pertamina plan liquid CO2 transportation tie-up Shipowners also eye further partnerships in LNG transportation and ship management
Shipowners join newbuilding dash as costly cyber rules loom Cyber resilient regulation drives up newbuilding price
Buttigieg: Rescheduling pot will not affect trucker drug testing The U.S. transportation secretary took on drugs and port labor at a hearing on Capitol Hill.
Freightmate Ai exits stealth mode with pre-seed funding and new tech After raising funds with Wischoff Ventures, Freightmate Ai launches its first automated tool for freight forwarders.
Opinion: CSCMP annual logistics report loses relevance The Council of Supply Chain Management Professionals publishes an annual report on the state of the logistics industry, but people are paying less attention to it.
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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