Unified Command releases update on Baltimore bridge collapse response As the Unified Command set up in response to the collapse of Baltimore's Francis Scott Key Bridge continued its efforts, news came that the bodies of two workers killed in the incident
VIDEO: Port Authority NSW puts two new fire/rescue vessels to work Two state-of-the art monohull firefighting rescue vessels, the Burra and Girawaa, are now at work for Port Authority New South Wales in Sydney Harbour. Able to reach speeds of 27 knots, they
Asia container exports to US surge in February In February, container exports from 18 Asian countries and regions to the United States experienced a significant rebound compared to the previous year. According to Japan International Freight Forwarders Association, Inc. (JIFFA), container exports fuelled by robust demand, surged by 29.4% year-on-year, reaching 1.6 million TEUs, as reported by the Japan Maritime Center (JMC) using data from the
Puerto Rico Ports Authority announces significant investment in terminal development Puerto Rico governor Pedro R. Pierluisi, alongside officials from the Department of Housing and the Puerto Rico Ports Authority (PRPA), visited Trailer Bridge's Army Terminal in Puerto Rico this week to unveil a US$85.3 million investment in the rehabilitation of the terminal's finger pier. This significant investment aims to enhance terminal efficiencies and bolster the company's ongoing weekly
ABS boss foresees implementation of global carbon tax on shipping ABS Chairman and CEO Christopher J. Wiernicki conveyed the imminent implementation of a universal, global carbon tax on shipping, highlighting the emergence of alternative blue fuels incorporating carbon capture as a pivotal aspect of the maritime industry's energy transition. "We need to recognize that there is an intermediate step in the energy transition," pointed out Christopher J. Wiernicki.
One Equity Partners takes over Acteon Group One Equity Partners (OEP), a middle market private equity firm, has acquired Acteon Group, a global marine energy and infrastructure solutions company. The financial terms of the private transaction were not disclosed. Established in 1989, UK-based Acteon provides engineering and data-driven services to the offshore renewables, nearshore construction, and energy industries. Acteon has over 2,000
ONE targets market share with 2030 strategy Singapore-headquartered Ocean Network Express (ONE) is looking to leapfrog its THE Alliance partner Hapag-Lloyd as the fifth largest carrier with a sustained fleet growth of around 10% per year to the end of this decade. The company said in its recently released ONE 2030 strategy that it will invest US$25 billion in its fleet to add close to 1.2 million TEUs in capacity, taking its standing fleet
Hapag-Lloyd to increase freight rates from Asia to Latin America German ocean carrier Hapag-Lloyd has announced an upcoming General Rate Increase (GRI) set to apply to shipments from Asia to the West Coast of Latin America, Mexico, the Caribbean, Central America, and Latin America East Coast for cargo transported in 20' and 40' Dry containers, as well as High Cube equipment and 40' Non-operative reefers. This GRI will be effective from 8 April for all destinat
ONE announces updated Transpacific network for 2025 Ocean Network Express (ONE) has announced its upgraded Transpacific service network, which will commence in February 2025. The carrier's Transpacific product comprises 16 primary services, each tailored to deliver efficient and reliable shipping solutions. ONE's Transpacific service network for 2025: Asia - US West Coast South FP1 (Far East - Pacific 1): From Europe, Singapore (Singapore), Kobe (
MPA assists US Coast Guard after Baltimore bridge collapse: Latest updates and classification investigation Chief Executive of the Maritime and Port Authority of Singapore (MPA Singapore) Teo Eng Dih has extended to Admiral Linda L. Fagan, Commandant US Coast Guard, MPA's continued support to the US Coast Guard and the local authorities on the Francis Scott Key Bridge collapse . MPA Singapore is working with the ship management company Synergy Marine to facilitate information exchange to support the US
Two bodies recovered in Baltimore bridge collapse The bodies of 35-year-old Alejandro Hernandez Fuentes and 26-year-old Dorian Ronial Castillo Cabrera have been found and were recovered from waters beneath the collapsed Francis Scott Key Bridge in Baltimore, according to BBC. Baltimore bridge collapse could cause significant supply chain disruption The British media company reports that the waters are too treacherous for divers to continue the s
Red Sea challenges lead to boxship drought for recycling yards The Red Sea crisis and the higher freight and charter rates are discouraging owners from scrapping older boxships, resulting in a dearth of tonnage being sold for demolition, despite cash buyers offering higher prices. While January saw 13 container ships of nearly 22,000 TEUs being torched, scrapping has slowed. Just three boxships (MTT Singapore, MTT Tanjung Manis and Dong Fang Xing) were recyc
CN analysis: Freight rates on trades out of India on reverse track after Red Sea-driven upswing Container freight rates on trades out of India have begun to cool after the Red Sea crisis-driven rocketing, according to the latest market analysis by Container News . On the westbound India-Europe trade, average short-term contract rates for 20-foot container bookings from West India [Jawaharlal Nehru Port (JNPT)/Nhava Sheva or Mundra Port] to Felixstowe/London Gateway (UK) have dropped to US$2
Yang Ming unveils enhanced 2025 Transpacific network Yang Ming has announced its upgraded Transpacific service network for the next year, which will commence in February 2025. The Taiwanese ocean carrier said it will refine its Transpacific service network in response to the upcoming change within alliance membership. The enhanced network will feature a total of 13 loops covering both Asia - US West Coast and Asia - US East Coast. Below is Yang Min
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Port of Gdansk reconstructs quays Krzysztof Kaczmarek, the president of the Port of Gdansk, has inked two agreements with PORR S.A. to enhance Rudowe and Bytomskie Quays. The combined length of these quays slated for reconstruction exceeds 450 meters. This initiative forms part of a broader project co-financed by the Connecting Europe Facility 2021-2027 (CEF 2), aimed at bolstering the competitiveness of the Port of Gdansk by enh
Al Seer and BGN venture seals funds for gas carrier newbuilds ABGC DMCC, a joint venture firm of Al Seer Marine and BGN, has secured funding to support the construction of three very large gas carriers (VLGCs) in South Korea and Japan. Abu Dhabi's Al Seer, the ADX-listed subsidiary of the International Holding Company (IHC), and Dubai-based energy trader BGN said Abu Dhabi Islamic Bank (ADIB) ...
Petrofac wins more EPC work on ONEgas' Southern North Sea assets Offshore engineering specialist Petrofac has won a contract extension in the Southern North Sea with ONEgas West, a joint venture between Nederlandse Aardolie Maatschappij (NAM) and Shell. The two-year brownfield engineering, procurement, and construction contract award extends the previous three-year deal. Petrofac will continue to provide services across ONEgas West's Southern North Sea portfol
New CEO takes the helm as private investors buy Acteon UK-based marine contractor Acteon has been bought by private equity investors Buckthorn Partners and One Equity Partners. According to Acteon, Buckthorn and One Equity are making a substantial investment in the company to improve its standing with suppliers and customers and enable it to compete even more strongly in its core markets. The investors will ...
Floating solar platform prototype cleared for testing in Dutch North Sea French class society Bureau Veritas (BV) has awarded the renewable energy company SolarDuck the world's first prototype certification for floating offshore solar technology. The floating solar tech was first applied in SolarDuck's 0.5 MW pilot project Merganser. The project, developed by SolarDuck and supported by RWE, features an offshore floating solar pilot with a capacity ...
Sanctions see Russian tanker fleet in ballast There is now clear data to show that sanctions are hurting Russian seaborne exports of crude. As of a month ago, the number of ballast vessels which last lifted Russian crude grades - excluding CPC blend and KEBCO - began increasing significantly, new analysis from Vortexa shows. Ballast vessels have now surpassed laden vessels for ...
SLB takes over majority stake in Aker Carbon Capture ouston-based SLB has acquired an 80% share in Norway's Aker Carbon Capture in a push to accelerate industrial decarbonization at scale. The transaction is subject to regulatory approvals and is expected to close by the end of the second quarter of 2024. At closing, SLB will pay NOK 9.19 ($0.85) per Aker Carbon Capture Holding ...
Green shipping corridor initiatives mushroom In the months since member states agreed at the London headquarters of the International Maritime Organization (IMO) to turbocharge shipping's green targets, the number of so-called green corridors around the world has rocketed. Latest data from classification society DNV shows the number of green shipping corridor initiatives doubled last year and, as of February this ...
Hafnia presses ahead with New York listing plans Hafina, the world's largest product tanker owner, has publicly filed a registration statement for a New York listing to go alongside its existing position on the Oslo Bors, a move other owners have pursued recently. Mikael Skov, the CEO of the BW Group subsidiary, said last year: "Our goal is for Hafnia to reach out ...
MOL invests in American marine battery developer MOL PLUS, the investment arm of Japan's largest shipowner, Mitsui OSK Lines (MOL), is buying into Fleetzero, an American developer of marine battery systems capable of going on much longer voyages than the majority of batteries on the market today. The Japanese shipowner said it intends to get some Fleetzero batteries installed on its fleet ...
MSC moves to take over Genoese newspaper group Cash-rich Mediterranean Shipping Co (MSC) has followed in the footsteps of CMA CGM by getting into the media business. The Gianluigi Aponte-founded company is buying Genoese newspaper group Il Secolo XIX, which also includes shipping titles The MediTelegraph, L'Avvisatore Marittimo, Il Giornale del Ponente Ligure and TTM - Tecnologie Trasporti Mare. Many Italian shipowners have ...
Sanctioned Russian ships unload in Italy When Pola Pelagia berths it will be the second time a Russian sanctioned ship delivers cargo to Italy in a...
Hafnia files for New York listing Oslo-listed Hanfia filed a registration statement with US regulators on Wednesday as it seeks a listing on the New York...
Ever Given contract ruling highlights value of Lloyd's Open Forms 'The case serves as a reminder to parties to ensure, even when time is short, that a binding contract should...
Cosco Shipping Ports chief denies knowledge of Houthi-China deal Zhu Tao, chief executive of state-owned Cosco Shipping Ports, claims to be unaware of a reported agreement between Houthi militants...
Dynagas Partners lines up $345m in Asian lease financing All Dynagas Partners' vessels are on long-term charter with earliest expiry expected in 2028
UPDATED: Dali pilot called for tugs minutes before catastrophic allision The US National Transportation Safety Board has retrieved preliminary data from Dali's voyage data recorder. It showed that a pilot...
UK government maritime expertise further eroded as IMO representative ousted IMO stalwart Katy Ware removed as the UK's permanent representative and maritime policy expert in international negotiations amid an exodus...
Nearshoring and low newbuilding orderbook to benefit ro-ro sector Ro-ro operators changing their services to accommodate the nearshoring of European trade is sure to be a theme for 2024 and...
Baltimore insurance bill could be on the Costa Concordia scale Owners may be able to limit liability under international convention, according to BonelliErde partner Vergani
Seacon Shipping to continue fleet upgrade despite profit slump in first year of listing The company expects an increase in commodity freight rates and a higher demand for chemical and oil tankers
US shipbuilding's China fixation recalls failed renaissance Vessel-tracking data shows about 10% of merchant ships built in China called at US ports in recent months, highlighting the...
Daily Briefing Vehicle carriers divert from Baltimore as most ro-ro terminals cut-off by bridge disaster | Marine insurers face billion-dollar payout on...
Baltimore port closure presents unexpected challenges for mid-Atlantic trucking US importers accustomed to shipping through Baltimore are facing the prospect of higher drayage and warehousing costs as they look for drivers, chassis and space at alternate ports.
Carrier competition to intensify with EU anti-trust, alliance changes: Cosco While China's shipping and ports behemoth was cautious about the outlook for 2024, it said inventory restocking in Europe and the US would drive an increase in demand for container shipping.
THE Alliance 2025 trans-Pac network touts 'minimal' impact of Hapag departure ONE and Yang Ming say the partnership will maintain most of its existing services into next year as it readies for a direct-call model and "speed buffers" to boost schedule reliability.
OSRA 2.0 bill targets China, leaves shipping antitrust exemption untouched Recently passed House legislation amending landmark shipping reform takes a hard tact to China's maritime influence on US ports but holds back on reigning in the limited antitrust exemption container lines use to participate in alliances, writes Executive Editor Mark Szakonyi.
Ocean carriers trim some ETS surcharges for Q2 amid decline in carbon prices The cost of compliance with Europe's carbon tax measure will be cheaper for carriers, and shippers, in the second quarter.
'A spoke in Moscow's wheel': Will India stay the top destination for Russian crude? India imported more than 70% of the 3.5m Russian barrels on the water so far this year, Kpler says
Baltimore terminal operator to divert coal by rail in wake of bridge tragedy CSX Corporation in talks with Kinder Morgan and Dominion Terminal Associates
Hafnia files for dual listing on New York Stock Exchange BW Group-controlled owner wants its shares to trade under the HAFN symbol
'If a rocket strikes, they just hope': Red Seaseafarers suffering symptoms like shellshocked soldiers in World War I trenches Crew members can be helped after traumatic events, says Charles Watkins of Mental Health Support Solutions
Shipowner Al Seer and energy trader seal $235m sharia financing for new VLGCs UAE groups move forward with their joint venture for gas carriers
Dynagas LNG Partners nears refinancing deal with maturity looming Company expects to close on $345m deal in second quarter
Ukrainian monitoring group turns spotlight on tankers busting EU's Russia sanctions More than two-thirds of the oil was transshipped off Greece, report claims
Maersk veterans win backing from super-rich for $220m supply-chain tech fund Sune Stilling and Peter Hove Hildebrandt set to close Nine Realms' first financing round this month
'If a rocket strikes, they just hope': Red Sea seafarers experiencing symptoms like shellshocked soldiers in World War I trenches Crew members can be helped after traumatic events, says Charles Watkins of Mental Health Support Solutions
From Hamburg hat shop to shipping giant: F Laeisz marks two centuries in business Calling the grand gala a 'family-and-friends event' was pure Hanseatic understatement
Pilot injured in gangway accident did not heed warning, bulker owner claims Fujian Shipping close to securing release of vessel after denying negligence
Hamburg Commercial Bank logs dip in shipping profit as new lending falls German lender says higher admin costs and lower loan-loss reversals hit bottom line for maritime operations
Greek owners control more than half of the 94 tankers busting EU Russia sanctions this year, study claims More than two-thirds of the oil was transhipped off Greece, report claims
Baltimore bridge disaster could be shipping's costliest ever, says Lloyd's boss John Neal CEO says London insurance marketplace assumes disasters like the Dali smash will occur each year and there will be enough money to pay
Aponte's MSC follows rival CMA CGM in buying newspaper group Giant shipping company taking over Secolo XIX and raft of transport publications
Lloyd's profit hits 'highest level in recent history' as cost of disaster claims drops Investment returns also roar back into the black at huge marine insurance and reinsurance marketplace
Sailing on nuts: Testing cashew nut oil biofuels in shipping UECC teams up with ACT Group, Wartsila and Lloyd's Register to assess biofuel made from cashew nut shells
Container ship deliveries hit record levels in first two months of 2024, says Clarksons Shipbroker said Chinese shipyards have been responsible for most deliveries so far this year
Baltimore bridge collapse may cost Carnival more than $10m in 2024 Cruise giant has also confirmed that it is unlikely to use the Red Sea until early 2025 at the earliest
5 things to know about cargo ship that brought down Baltimore bridge The MV Dali container ship that caused the collapse of the Francis Scott Key Bridge in Baltimore was involved in a collision in 2016.
YunExpress charters Atlas Air freighters for US e-commerce service Atlas Air is now providing two Boeing 777 freighters for the exclusive use of China-based YunExpress.
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