VIDEO: Volvo Penta puts its new IPS Professional Platform to the test Volvo Penta describes its new IPS Professional Platform as the "industry's most advanced technology and propulsion platform for superyachts and commercial marine vessels." First announced earlier this year (see story) the new
BOEM offers Maine lease for floating wind research project The state of Maine's planned floating wind research project has taken a significant step forward since we last reported on it. The Bureau of Ocean Energy Management (BOEM) today announced the availability
A new era for shipping demands a focus on compliance and performance SPONSORED CONTENT: The right software solution can help operators manage the dual demands of regulatory compliance and commercial opportunity. By Staci Satterwhite, ABS Wavesight CEO The shipping industry faces a once in
Ship Repair USA: Corrosion protection strategies for longevity and reliability Ships and assets operating in or near seawater are subjected to one of the most corrosive environments for steel-based structures. Even though marine epoxies have been used for decades, they have also
MAN Cryo selected to design fuel supply system for world's largest hydrogen powered ferries MAN Cryo will supply some of the key technology in the two giant hydrogen-fueled ferries on order for Norwegian ferry operator Torghatten Nord. With a length of 117 meter and a capacity
Florida's SeaPort Manatee orders two Konecranes mobile harbor cranes The Manatee County Port Authority's SeaPort Manatee in Tampa Bay, Fla., is to add to its container and general cargo handling capabilities with two Konecranes Gottwald ESP.7 mobile harbor cranes. After ordered
North Star Renewables orders its eighth hybrid SOV Backed by a contract from Siemens Gamesa, Aberdeen, Scotland, based North Star Renewables is to build a hybrid SOV (service operations vessel ) for long-term charter at the East Anglia THREE offshore
Modular Prefabricated Buildings in Turkey Are you looking for an affordable way to create a strong, quality workspace? If that's the case, consider prefab design and using a modular prefabricated building. Module T is a prefab manufacturer involved in the design and supply of various types of prefabricated buildings and containers suitable for use on commercial and industrial sites. Our Prefab Turkey range of constructions is made to the
Gothenburg port authority seeks operator for car terminal Since 2011, Logent Ports and Terminals has successfully operated the car terminal at the Port of Gothenburg. However, with the contract set to expire in 2026, the Gothenburg Port Authority has initiated the process of selecting a new terminal operator for Sweden's largest carport. Under Logent's management, the number of vehicles handled at the port has increased by nearly 100,000 units, marking
WEC Lines opens new office in Portugal WEC Lines announced the opening of a new office in Figueira da Foz, Portugal, in April 2024. According to a statement, this expansion aims to strengthen its local presence and enhance service to meet client demand. Located at Rua da República 202, the new office marks a significant milestone in WEC Lines's journey to broaden its service offerings in Europe and beyond. The office is led by Samuel
Carriers attempt rate hikes for India-US cargo despite persistent market challenges Container lines on India-US trade have lined up a new round of rate increases for June even as market conditions remain increasingly challenging due to excess capacity. From mid-June, rates are set to go up by US$500 per container for Indian loads to the US East Coast and US$1,200 per container to the US West Coast, on average. The upcoming rate hike plans include peak season surcharges (PSSs) of
DP World and Mawani begin US$250M logistics park at Jeddah Port DP World and the Saudi Ports Authority (Mawani) have begun constructing a new US$250 million logistics park at Jeddah Islamic Port. This state-of-the-art facility aims to enhance storage and distribution capabilities, bolstering trade within Saudi Arabia and the broader region. Spanning 415,000 square meters, the greenfield facility will include 185,000 square meters of warehousing space and an e
Panama Canal restrictions drive 31% increase in dry bulk sailing distances In this week's "Shipping Number of the Week" from BIMCO, Shipping Analyst Filipe Gouveia examines the substantial impact of limited daily transits in the Panama Canal on the dry bulk market. Between January and April 2024, transits decreased by 74% year-over-year, leading to a 31% year-over-year increase in sailing distances for affected routes, despite a 25% year-over-year decline in cargo volum
Consortium inks MoU to develop green methanol facility in Egypt AD Ports Group, a global trade, logistics, and industry facilitator, has signed a Memorandum of Understanding (MoU) with Transmar, a leading container shipping line and terminal operator in the MENA region, and Orascom Construction, a prominent global engineering and construction contractor. The MoU outlines the development of a green methanol storage and export facility aimed at supplying low-ca
Grimaldi Group's GSAB2 project to enhance port efficiency On 14 May 2024, the GSAB2 (Grimaldi Satellite Berthing 2) project was launched. This initiative is an evolution of the previous GSAB project, which the European Space Agency (ESA) assigned to the Grimaldi Group in 2022 under its Navigation Innovation and Support Program (NAVISP). The initial project aimed to develop and validate the first assisted guidance system using satellite technology for do
ACL's fastest transatlantic freight service makes first arrival in Ireland The inaugural fast shipping service between North America and Ireland, a collaboration between Atlantic Container Line (ACL) and BG Freight Line (BGFL), has made its first port calls to Dublin and Belfast. The two shipping lines have joined forces to offer exporters and importers in Ireland and Northern Ireland the fastest transatlantic access to North America. "Today sees a real breakthrough wit
Ningbo Ocean Shipping orders all-electric feeder vessels Ningbo Ocean Shipping Co (NBOSCO) has signed for the construction of two battery-powered feeder boxships at Jiangxi Jiangxin Shipbuilding. The Shanghai-listed subsidiary of Ningbo-Zhoushan Port Group has booked 740 teu ships, which will operate along the Chinese coast once delivered in 2026. The newbuilds will be driven by two 875 KW permanent magnet propulsion motors ...
Scottish offshore wind farm operator to pay $42m for breaching energy market rules Beatrice Offshore Windfarm Limited (BOWL), the operator of the 588MW Beatrice offshore wind farm off northeast Scotland, has agreed to make a payment of £33.14m ($42.3m) after admitting to breaching energy market rules. UK energy regulator Ofgem said in a statement that BOWL admitted to breaching one of its licence conditions by charging excessive prices ...
Aviation technology provider enters maritime sector with SmartSea launch Air transport industry IT provider SITA has made its venture into the maritime sector with an agreement with Columbia Shipmanagement (CSM) in an effort to accelerate digitalisation across the whole value chain. The SITA-powered SmartSea is the industry's first company which will bring the same advanced technology that has already transformed the air transport industry ...
Van Oord firms up German wind farm contract Dutch marine construction firm Van Oord has officially been awarded a contract by RWE to transport and install monopile foundations for the 1.6 GW Nordseecluster offshore wind project in Germany. Under the contract, which follows the preferred supplier agreement in April last year, Van Oord will install a total of 104 extended monopiles with a ...
Navigazione Montanari seals tanker newbuilds in China Italian owner Navigazione Montanari is renewing its tanker fleet with a pair of MR1s at Singapore-listed Chinese yard Yangzijiang Shipbuilding. The Fano-headquartered company listed on VesselsValue with 17 ships and an average age of about 15 years has booked the 41,000 dwt duo at about $42m each, according to brokers, with delivery expected in 2027. ...
Vessel takes on water after missile strike off Yemen A bulk carrier took on water and tilted to one side after suffering damage in a missile attack off the Yemeni coast. Maritime security consultancy Ambrey said the ship issued a distress call stating its cargo hold was damaged and was taking on water after being targeted by three missiles. The incident took place some ...
AD Ports finds partners to develop green methanol facility in Egypt Abu Dhabi-based ports and logistics giant AD Ports Group, container shipping firm Transmar, and engineering company Orascom Construction have signed an MoU for the development of a green methanol storage and export facility for maritime transport in Egypt. As a fuel, green methanol has several benefits compared to fossil fuels. It is clean-burning and has ...
Knutsen offshore wind venture seeks to build gigawatt-scale floater off Sweden Knutsen wind venture Deep Wind Offshore has applied to build and operate a 1.5 GW floating offshore wind farm in Sweden. The Swedish government has received the first application for a floater project outside Stockholm in the Baltic Sea. In the first phase, the project, dubbed Erik Segersäll, will produce around 6.5 TWh, corresponding to ...
Beijing calls on the Houthis to stop their campaign against merchant shipping Chinese foreign minister Wang Yi met with his Yemeni counterpart Shaya Mohsen Al-Zindan today in Beijing where the dire security situation in and around the Red Sea was discussed. Wang said the Red Sea situation was directly down to the ongoing war in Gaza. "China calls for an end to harassment of civilian ships and ...
Hyundai Glovis returns to GSI for more of world's largest car carriers South Korea's Hyundai Glovis has commissioned China's Guangzhou Shipyard International (GSI) to build more ultra-large car carriers. The shipping and logistics unit of Hyundai Kia Automotive Group is adding six LNG dual-fuel 10,800 ceu vessels to the CSSC-affiliated yard's project backlog following HMM's order last year for a similar sextet against Hyundai Glovis charters. The ...
Pacifico Energy teams with Korean firm to develop foundations for 3.2GW project Pacifico Energy Korea has signed a memorandum of understanding with HSG Sungdong Shipbuilding to develop and supply foundations for a 3.2GW offshore wind project cluster. This deal is the first Korea-U.S. partnership for developing, fabricating, and supplying large-scale offshore wind substructures. Pacifico Energy's offshore wind project cluster consists of three offshore wind projects - Myeong
Cooper Energy takes Petramina to court over decommissioning cost dispute Australia's Cooper Energy has informed that it would be going to court to force Indonesian state-owned energy company Petramina to pay its share of the Basker Manta Gummy (BMG) field decommissioning costs. According to Cooper Energy, the expected final cost of the BMG wells decommissioning programme is toward the upper end of the mid-case estimate ...
Cook Islands in, Australia out in changing of the guard at the Asian Shipowners' Association One of the founding members of the largest regional shipowning body in the world has decided to quit. The Asian Shipowners' Association met in Hong Kong today for its annual general meeting, a body that controls more than one in two ships afloat today. The association is a continuation of the Asian Shipowners' Forum (ASF) ...
Port congestion returns to haunt the container markets Worsening port congestion has removed more than 2% of container vessel supply since March, according to a new report from Bank of America, citing Singapore, Dubai and the Mediterranean as congestion hot spots, while Asian box availability remains tight. "Port congestion has returned to haunt the container markets, with Singapore becoming the latest chokepoint," warned ...
Iranian liner continues to call at EU ports despite sanctions An Iranian shipping company under sanctions by the US has been using several of its containerships to deliver goods to the EU through the dangerous waters of the Red Sea. Three containerships owned by Hafez Darya Arya Shipping Co (HDASCO), a subsidiary of the Iranian National Shipping Group (IRISL), have been seen calling several EU ...
Sumitomo takes stake in IWS Fleet Awilco affiliate Integrated Wind Solutions (IWS) has agreed with Sumitomo Corporation for the Japanese trading house to take 25.38% stake in its subsidiary IWS Fleet. The deal, expected to be closed in June, will see IWS Fleet raise €60m ($65.2m) in equity and Sumitomo get a seat on IWS Fleet board. Oslo-listed Integrated Wind Solutions ...
Apeejay Shipping grows bulker fleet One of India's oldest privately owned shipping companies, Apeejay Shipping, has been tied to the sale of the Oshima-built, 82,000 dwt kamsarmax ASL Uranus, offloaded by Agricore, an active Chinese owner who last week tapped Basile Aloy-led Ebe Shipping for the 12-year-old, Imabari-built El Grasso cape. Apeejay Shipping is a seven-ship-strong bulker outfit with over ...
Maritime Technology Demo Day set to be a highlight of next's week Posidoina gathering One of the highlights of next week's Posidonia gathering in Athens is set to be a global maritime startup day. Set for the morning of June 4 at the Stavros Niarchos Foundation Cultural Center (pictured), the Maritime Technology Demo Day is being co-hosted by The Captain's Table and TMV Ventures with the goal of highlighting ...
Cyprus scraps Larnaca port concession Cyprus has scrapped a EUR1.2bn ($1.3bn) concession agreement for the development of Larnaca port. Operator Kition Ocean Holdings held a long-term lease to develop and operate both a yachting marina and a commercial port in the southern port town. The Cypriot government said Kition was in breach of contract for failing to renew a letter ...
Which party are shipmanagers at today? Are the old days of third-party management redundant? The second instalment from our brand new shipmanagement magazine. Claiming the old days of third-party management were out, and that second-party management was a better description of the business these days, Mark O'Neil, head of Columbia Group, created one of the big talking points at the last ...
Product tanker sector set for extended upcycle, says new d'Amico CEO Product tankers have benefitted from the Ukraine-Russia war, Red Sea attacks, and Panama Canal restrictions. But even without those disruptions...
Spain's Marflet hops on wind-assisted propulsion train in bound4blue deal Spanish tanker owner Marflet has entered an agreement with suction-sail developer bound4blue for the installation of four 22-metre sails onboard...
SITA makes debut in maritime with Columbia link-up New venture positions itself as conduit for shipping to 'catch up' to aviation
Flag and port state face off over ship detentions Port state control is concerned that ambitious flag states seeking to improve their detention record are undermining the independence of...
Deripaska charterer decision sets force majeure precedent, lawyers contend Supreme Court comes down in favour of principle over pragmatism
Houthis begin warning owners and operators as bulker hit in Red Sea Houthi rebels claim to have alerted owners and operators that vessels would be targeted if any related ship called at...
Higher charter rates boost MPC Container Ships' outlook Houthi attacks of shipping have inverted the supply and demand imbalance that was expected this year. Diversions and increased teu...
Danaos ups methanol-ready boxship orderbook Chief executive John Coustas sees container market optimism extending to longer term as charterers snap up newbuildings
UK targets use of escrow agents in dark fleet sale and purchase deals The UK government has published sanctions guidance for brokers selling ships to third countries to stop ships being sold into...
IRS chief defends classing Russia-trading dark tankers as fleet doubles The IRS continues to follow the existing sanctions regime, but as long as the vessels are not directly related to...
Cypriot port's future in doubt after government spat Local media reports said Kition Holdings failed to pay financial guarantees on time, but the company has disputed this
Terminal congestion spreads through Asia Red Sea rerouting continues to throw carrier schedules out of sync. This is now leading to increased congestion, further damaging...
Greek shipowners on the hook for €335m next year under ETS phase-in Data firm OceanScore said many Greek shipowners are adopting a "wait and see" approach, which could leave them with a...
ACL teams up with BG Freight for Irish service BG Freight will feeder cargo from Dublin and Belfast to Liverpool. The service claims to cut up to two weeks...
FourKites integrates with truckload scheduling standards initiative Amid growing interest in making the truckload appointment scheduling process more efficient, the US visibility provider has added weight to an initiative started in late 2022.
Energy efficiency, new fuels only route to 2030 targets: engine maker MAN The IMO will introduce shipping's new fuel standard in 2027 aimed at accelerating the industry's decarbonization, but carriers need to work on improving fuel consumption now or risk missing short-term emissions goals.
Methanol bunkering at scale a step closer after Singapore refueling The ability to refuel a ship while loading cargo in port is key to the successful deployment of alternative fuels for ocean carriers at bunkering hubs.
Idan Ofer's Eastern Pacific 'squeezes' product tanker newbuildings out of fully booked shipyard Shipowner now has eight LR2s booked at Guangzhou Shipyard
Greek bulker suffers additional damage in renewed missile attack, Royal Navy says Vessel has no immediately apparent connections to Israel, the UK or US
Charter rate trend is stronger for longer, says MPCC boss Moritz Fuhrmann Tonnage provider MPC Container Ships cashes in on booming charter market with forward fixtures
C Transport Maritime, BW Epic Kosan, Hafnia and others collaborate in AI joint venture Partners want to use AI to automate organisational data processes and create efficiencies
Fearnley Securities ramps up targets for Himalaya Shipping as investment story pivots to dividends Investment bank expects dividend machine to really get going from the second half of this year
Golar aiming to hold FLNG yard slot for second half 2027 delivery Company's potential spin-off Macaw Energies fires up first pilot unit to convert flare gas to LNG
Diana Shipping profit sinks as charter revenue pulls back Lower charter rates and fewer operating days eat away at top line
'Air traffic control for shipping': Blue Visby trials crack 'sail fast, then wait' conundrum System-wide use of general average, new charterparty clauses and technology saves fuel and improves CII ratings
Houthis claim new round of unconfirmed attacks against MSC, Clearlake and Minerva Marine ships Rebels announce operations against tankers and boxship in Indian Ocean and Red Sea
Strength in LR tankers has owners racing to Middle East or switching to dirty trading Owners look to cash in after largest product tankers show big gains
Proman Stena stays away from newbuilding deals as prices hit highest level in two decades The joint venture is studying the retrofitting of existing tankers
Danaos reveals Star Bulk capesize buy as John Coustas trumpets market confidence Bulkers have begun to make a modest contribution to the hefty profits of the John Coustas-led container ship firm
Collision avoidance platform Orca AI welcomes big hitters on board in $23m funding round Israeli tech company banks new investment from OCV Partners and MizMaa Ventures, among others
Golar LNG shifts into detailed 'contract negotiations' for redeploying FLNG unit Company working with BP and Kosmos to bring forward start-up of second floater
Chinese carrier electrifies fleet with order for feeder ships Ningbo Ocean orders battery-powered container ships for domestic trade
Houthi missile strike leaves Greek bulker listing and taking on water Yemeni rebel group increasingly takes aim at Hellenic vessels
Yangzijiang Shipbuilding sets new record with orderbook exceeding $16bn The shipyard has so far contracted $3.32bn worth of newbuildings this year
TotalEnergies set to deploy large LNG bunker vessel on US west coast in 2027 Newly promoted head of marine & aviation fuelling Louise Tricoire says LNG bunkering is maturing
'Air traffic control for shipping': Blue Visby trials crack 'sail fast, then wait' conundrum System-wide use of general average, new charter party clauses and technology saves fuel and improves CII ratings
Chinese carrier jumps on electric bandwagon with order for feeder ships Ningbo Ocean orders battery-powered container ships for domestic trade
Red Sea crisis pushes container shipping to $5.4bn profit in three months Liner shipping sector bounces back to log a $5.4bn profit in first quarter
Tanker ships out NYK's first cargo of sustainable jet fuel NYK Bulkship handles shipment destined for the US
Vote of confidence: Constantine Logothetis boosts stake in fuel tech operation Greek investor now has more than 24% of London-listed ship optimisation company SulNOx
Cadeler pushed to loss by dry-dockings and addition of Scorpio Group vessels Dip in earnings follows last year's merger with Eneti
Awilco-backed IWS to expand wind fleet after $65m Sumitomo investment Norwegian owner strikes strategic partnership deal with Japanese trader
Greek shipping: How much does key 'funding source for civil society' contribute to national economy? Quantifying the industry's contributions to its home country presents considerable challenges
Ship hits Russian bridge after suffering steering failure No injuries reported after accident involving domestic vessel
China 'prepares' civilian ro-ro and ropax armada for Taiwan invasion, analysts warn Naval shortcomings could be bolstered by use of domestic ferries, researchers claim
Greece's Mark Terzopoulos strikes out with first 'boutique' LNG brokerage Former Maran Gas commercial head launches new shop Longview
MPC Container Ships hikes profit forecast as it stays busy in firmer charter market German tonnage provider saw rates drop in the first quarter, but is optimistic for the rest of year
Shipbrokers face jail over tanker sales to Russian shadow fleet, UK warns Government guidance details 19 signs that suggest tankers could be heading to shadow fleet
Cadeler pushed to loss by drydockings and addition of Scorpio Group vessels Danish group sees temporary dip in earnings following last year's merger with Eneti
Watchdog clears Tankerska Plovidba to launch full takeover of former dry bulk rival Shipowner to mop up the remaining shares in Atlantska Plovidba
'All-round altar boy': Mosvolds Rederi boss Peder Nicolai Jarlsby surpasses 'mentor' to top shipping's fantasy league Norwegian executive equals former Fearnley Securities colleague in claiming the top prize
Morfini family's Medcare Shipping makes rare order for product tankers China's Penglai Jinglu yard is said to have won contract
Yangzijiang Shipbuildings' orderbook stands at record level of over $16bn The shipyard has so far contracted $3.32bn worth of newbuildings this year
Karpowership emerges as buyer of two former MISC LNG carriers Midsize elderly vessels have been renamed under Turkish owner's gas-to-power branding
Bengal Tiger Line aims to take Singapore transshipment knowhow to the River Plate New service is part of a wider plan to improve regional container ship logistics
Freight and insurance costs force Thailand to turn away from Middle East tanker shipments Figures show Asian nation importing more crude cargoes from the US and its neighbours
RoadOne breaks ground on 100-acre site near Port of Charleston RoadOne has started construction on a 100-acre distribution project near the Port of Charleston.
Gulf Coast ports report mixed cargo movements in April Container shipments rose at Port Houston in April, while New Orleans and Corpus Christi recorded slight drops in movement of some goods.
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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