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JULY 29, 2024

AMTOI embarks on a path to create an ESG roadmap for the logistics industry DPA launches SAAGAR initiative to boost growth through volume commitments JN Port urges strict compliance with norms for monsoon preparedness Waiver of late fees on account of system down for updation of changes vide budget 2024-25 DGTR recommends $577 per tonne duty on Chinese aluminium solar frames Second Chemical Berth at Mumbai Port to be out of operation Mumbai Port organises Port Masterplan 2047 Workshop Robust performance by CMA CGM Group in Q2 2024 MOL announces launch of business-specific website MOLSolutions' Trade body urges B'desh govt to waive demurrage charges at ports India's coal import for blending by the power sector dips Ocean container shipping volatility seen easing Shahid Beheshti Port at Chabahar registers increased volumes Baltic Exchange Market Report (26 July 2024)

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JULY 29, 2024

Rapid but not rash action

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JULY 26, 2024

Container spot rates have peaked as all major trades see prices fall French logistics sector on tenterhooks over Paris Olympics opening ceremony Cold Lineage - looking for hot M&A post-IPO? Bangladesh looks at demurrage waiver as containers pile up in Chittagong US mega-airlines grow cargo volumes, but miss out on ecommerce boom 'The Great Transport Value Play' EU tariffs on Chinese EV imports not expected to put the brake on sales Mainfreight - all's well that ends where it all started Deutsche Bahn to cut 30,000 jobs after first-half loss NOCC adds third 'ammonia-ready' PCTC newbuild orderbook Nico Peters appointed Tailwind Shipping's new VP, liner management Midsummer Special: What next for freight markets?

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JULY 26, 2024

Hudson River shipping stakeholders oppose anchoring ban Mariners operating in New York's Hudson River are confronting safety challenges amidst efforts to prohibit anchoring in an area prone to dense fog, high winds, and other unpredictable weather conditions. Anchoring is Maersk Line Limited reaches settlement in whistleblower case As part of a settlement with the U.S. Department of Labor in a whistleblower case, Maersk's U.S.-flag subsidiary, Maersk Line Limited is to change its safety reporting policies and compensate a seaman NTSB: Crew's quick action limited fire damage to towing vessel Desperado The crew's swift action limited damage to the towing vessel Desperado when a ruptured hydraulic hose spraying fuel on a hot engine led to a fire aboard 1982-built vessel when transiting Louisiana's

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JULY 26, 2024

DP World launches Senegal's cashew export season DP World has officially launched Senegal's cashew export season with the arrival of the vessel Diogue, a massive shipment carrying 2,000 tonnes of cashews from neighbouring Guinea-Bissau. West Africa is rapidly emerging as a major global player in the cashew nut market, and Senegal is thriving as a crucial export gateway for this valuable agricultural product. The cashew export season in Senegal International Maritime Organization completes port security training in Madagascar Comorian and Malagasy national authorities gained essential skills and knowledge to help ensure the security of their ports, following a series of International Maritime Organization (IMO) training activities held in Antananarivo, Madagascar from 9 to 19 July. According to IMO, 24 personnel representing a range of government departments, ministries and agencies in Madagascar took part in an initi King Abdul Aziz Port sees volume growth in 2024 In the first half of the year, King Abdul Aziz Port in Dammam, Saudi Arabia recorded a 37.4% increase in total container exports and imports, reaching 1,534,961 TEUs compared to 1,117,133 TEUs during the same period last year. Additionally, the total number of transshipments rose by 87.87%, reaching 37,806 TEUs. The number of exported containers at the port increased by 39%, reaching 624,710 TEUs Asyad Group acquires global freight forwarder Asyad Group, Oman's end-to-end global logistics provider, has acquired Skybridge Freight Solutions (SFS), a global freight forwarding company. This move is the group's first international acquisition in core logistics activities and marks a strategic move to significantly expand Asyad's footprint through active operations in key trade hubs and the major economies of China, India, the United State FMC rules shipments cannot be declined for commercial reasons, ignores box lines' objections Despite major container lines' objections, the US Federal Maritime Commission (FMC) has decreed that liner operators cannot use "business decisions" to refuse to move containers already booked. As per the Ocean Shipping Reform Act (OSRA), the move aims to help US exporters who struggle to secure space for their shipments. The Biden administration passed the OSRA in 2022, in response to pleas from Associated British Ports appoints new Chair The Board of Associated British Ports (ABP), the UK's largest port operator, has announced the appointment of Jonathan (Jon) Lewis as its Chair in succession to Dr Phil Nolan who has decided to stand down from the role. Lewis brings decades of business leadership experience in major infrastructure sectors such as energy, engineering and construction. He has held CEO roles at AmecFosterWheeler plc Lextroy Management Review: The Game-Changing Financial Business Forum [lextroym.com] The most general name for the new exchange is advanced web-based business and cash production. It looks at the financial design of trading for the online trade market of Lextroy Management , but it hasn't decided whether to expand. This kind of exchange can have a significant impact on the development of the trading website as it tends to modify important features of the website. Lextroy Manageme Hapag-Lloyd increases rates from Latin America East East Coast to North America, Central America and Caribbean German ocean carrier Hapag-Lloyd has announced a new General Rate Increase (GRI) from Latin America East East Coast ports to North America, Central America and Caribbean for both dry and reefer containers. This rate increase will be US$1,500 per box and will be applicable to all containers from September 1, 2024. If you liked this post, please consider donating The post appeared first on Contain EMA, MPA shortlist two consortia to study ammonia viability for power generation and bunkering The Energy Market Authority (EMA) and the Maritime and Port Authority of Singapore (MPA) have shortlisted two consortia that will proceed to the next round of evaluations of proposals to provide a low- or zero-carbon ammonia solution on Jurong Island for power generation and bunkering. The two consortia were selected from a total of six that were earlier shortlisted in 2023 to participate in a re

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JULY 26, 2024

TotalEnergies inks LNG bunker newbuilds in China TotalEnergies is strengthening its LNG bunkering business with up to two newbuilds in China. The French energy major has contracted state-owned Hudong-Zhonghua Shipbuilding to build one firm 18,600 cu m vessel, with options secured for an additional unit. Several shipowners, including Avenir and Japan's Mitsui OSK Lines (MOL), were in the run to secure the ... One dead, four still missing from sunken ship off Taiwan Four crewmembers remain missing and one has been confirmed dead from the general cargo ship Fu Shun that sank in stormy weather off the coast of southern Taiwan. Tanzanian-flagged 56-m-long vessel went down around 19 nautical miles off the coast of Kaohsiung City on Thursday, after Typhoon Gaemi swept across the island. The crew of ... 'Hong Kong has gone rogue': US report details entrepôt's shipping links to Russia, Iran and North Korea The surge of Hong Kong shipments to Russia following Moscow's invasion of Ukraine in 2022 underscores the city's extensive role in helping US adversaries avoid international sanctions, a new analysis published by the Committee for Freedom in Hong Kong Foundation shows. The 62-page report, Beneath the Harbor: Hong Kong's Leading Role in Sanctions Evasion, outlines how ... Maersk settles case with US Department of Labor As part of a settlement with the US Department of Labor, Maersk Line Limited - Maersk's American subsidiary - will change its safety reporting policies and compensate a seaman the company terminated after they reported safety concerns to the US Coast Guard without first notifying their employer. The actions follow a three-day hearing in June ... The Philippines 'racing against time' to avert nation's worst oil spill The race is on just outside the Philippine capital to avert the worst oil spill in the country's history. A 22-year-old tanker carrying industrial fuel oil capsized and sank 3.6 nautical miles off Lamao Point in the Philippines due to rough seas early on Thursday morning as a typhoon passed by. The incident which involved ...

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JULY 26, 2024

Supreme Court ruling could make it harder for FMC to fine carriers in future The Supreme Court recently ruled that the Securities & Exchange Commission cannot sidestep a trial by jury in federal court... Leaked charterparty hints at premiums earned on sanctioned trades Sanctioned trades are a risky, but potentially profitable business. Leaked documents offer anecdotal evidence as to what shipowners engaged in... Box sector nervously eyes more volatility to come Freight rates slipping in what should be peak season will be ringing alarm bells for the lines, but the current... Congratulations on re-election, Ms von der Leyen. Now cut red tape and push free trade With the right policies, the EU can stay in the game The Lloyd's List Podcast: Is the container rate rollercoaster just getting started? Volatility is the word of the hour as black swan event after black swan event continues to disrupt the container... First test of UK shipping sanctions as Russia-loaded tanker sails for Port Said Fighter Two previously transferred its latest Russia-loaded cargo to another tanker in mid-June for onward shipment to India, with any... Ro-ro hit by Ukraine was carrying military equipment, says Kyiv The General Staff of the Ukrainian armed forces said it hit the Russia-flagged vessel in the port of Kavkaz, which... Singapore proceeds with ammonia bunkering plans Itochu, NYK and Sumitomo were shortlisted TOP Ships seals seven-year charter extensions for product tankers 'Very strong' rate is 12% higher than current hire and the firm period of the charters is expected to generate... Norwegian Car Carriers adds to newbuilding orderbook in China Oslo-headquartered vehicle carrier tonnage provider has declared an option for one 7,000 car, pure car and truck carrier attached to... South Korean shipbuilding labour union to launch August strike if wage negotiation fails The union criticises the excessive use of subcontracted workers, warning that unskilled workers may lead to accidents Coal demand to stay high in 2024 after record 2023 The latest coal report from the International Energy Association cites exceptionally low hydropower output as a factor in 2023's record... Maersk ordered to pay back wages to seafarer it terminated by US Department of Labor The biggest subsidiary of AP Moller-Maersk will pay more than $450,000 in back wages to a seaman it suspended and... 'Fuel agnostic' Silverstream future-proofs for greener fuels Air lubrication specialist still sees role for efficiency gains even with lower-carbon fuels Turkish refiner recovers oil from tanker seized by Iran The tanker formerly known as Suez Rajan remains detained in Iran, after having been seized by the Iranian Navy in... Daily Briefing Houthi threat leads to rise in dark transits across Indian Ocean and Arabian Sea | Cook Islands flags more tanker...

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JULY 26, 2024

US LTL companies intensify push to open new terminals Saia, Knight-Swift and other LTL carriers are moving ahead with plans to open terminals once owned by bankrupt Yellow, despite higher costs. Asian imports, Canada diversions boost UP's intermodal business UP's containerized intermodal volume is up 6% in July as West Coast imports grow and the threat of a strike diverts some Canadian international intermodal freight. Signs point to US truckload revival in 2025: Knight-Swift The return of seasonality, tender rejections and an end to discounting all hint at a coming uptick in truckload demand in the second half and higher rates next year, the largest US truckload operator says. Cosco boosts slot space on CMA CGM's standalone India-USEC loop CMA CGM will begin a rebranded standalone India America Express string from Aug. 15, decoupling from the consortium it had with Hapag-Lloyd.

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JULY 26, 2024

Diana Shipping forges $167m refinancing deal that unencumbers two bulkers New York-listed shipowner draws down loan to pay off loans backed by 12 vessels 'If you're not having fun in shipping, you're not doing it right,' says Ardmore's Gurnee Outgoing boss of Irish tanker company looks back at a long and varied career Dodgey data blamed after Chinese ship nearly hits Australia's Great Barrier Reef Australian accident report shows Chinese vessel came within 200 metres of Bond Reef LNG carrier orders help turnaround first half performance at Hanwha Ocean Shipbuilder's orders secured in January to June period top those for whole of 2023 Maersk stands by firing seafarer after striking whistleblower settlement with the US Coast Guard official says crew can contact agency over safety concerns before reporting to employers German owner GEFO extends chemical tanker newbuilding series in China German owner inks deal for up to four vessels with Nantong shipbuilder Multi-tasking master blamed for grounding veteran Great Lakes bulker American Steamship vessel suffered punctured ballast tanks after incident in 2023 Dorian LPG upgraded to buy as Fearnleys sees 'spot activity picking up pace' Share target price hiked to $48 per share from $34 Former Russian tanker still under detention after six years and two sales Ex-Tecoil vessel changed hands in 2022 and 2023 yet remains held in UK port Vale sees second-quarter profits triple despite 21% surge in iron ore shipping costs Brazilian company to add to iron ore capacity in next 12 months 'We want to see the protection of the Arctic': MSC rules out Northern Sea Route Vice president Bud Darr argues Arctic route Russia is not suitable for shipping and hopes industry will follow suit Greek broker Optima beefs up ESG consulting in deal with Norwegian shipping group Athens shop clinches strategic partnership with software group Alarm bells ring for shipowners as container freight rates slip in peak season Supply - not demand - is starting to result in a cooling of container freight rates Fears of election 'bloodbath' turn Venezuela into no-go zone for ship crew changes Seafarers have been warned to remain inside port buildings during Sunday's vote Vale sees second-quarter profits triple on iron ore sales spike Brazilian company to add to iron ore capacity in next 12 months TotalEnergies orders pricey LNG bunker vessel at Chinese shipyard Shipbuilder Hudong-Zhonghua books in its 100th LNG newbuilding Wavelength Podcast: Dark fleet tanker fears, cruise investors spoil the party and behind the scenes at Ardmore Royal Caribbean parties as investors ask questions, EU focus on green investments and MSC outlines its NSR policy TotalEnergies orders pricey LNG bunker vessel in landmark deal for Chinese shipyard Hudong-Zhonghua books in its 100th LNG newbuilding Could human rights laws see shipping's scrubber habit banned? Friends of the Earth thinks so Proposals for the challenge will go before the IMO in September 'Buoyant' newbuilding market boosts Bureau Veritas orderbook and classed fleet French classification group expects revenue to rise this year, as Bureau Veritas Marine & Offshore boosts profit First tanker blacklisted by Britain shrugs off sanctions to load crude cargo Fighter Two was designated last week in second round of sanctions GTT sees need for 100 additional LNG carriers for under-construction projects Company notes fleet renewal and choice of LNG as a fuel gather momentum Landmark oil spill threat sees salvage team tackle tanker sunk in typhoon Harbor Star Shipping Services has sent tugs and salvage equipment to the site of the sinking Ukraine claims hit on Russian ferry 'being used for military transport' Army says attack resulted in serious damage to the Slavyanin in Kavkaz Seven-year fix: Top Ships charters out product tankers in $100m Gunvor coup Greek owner says modern vessels have been committed at 'very strong rates' Taiwan Navigation sells second bulk carrier as it clears path for newbuildings Taipei-listed shipowner awaits delivery of newbuildings from Japan Gram Car Carriers nearing Oslo Stock Exchange exit as shares frozen Friday started with the tonnage provider's shares suspended at NOK 261.50 Second liquefaction unit starts tow to Russia's Arctic LNG 2 site Gravity-based structure heads out to sanctioned Novatek project d'Amico International Shipping scraps tanker buy after Evangelos Marinakis ship delayed on voyage Italian owner says Greek operation did not meet deadline contained in contract CMA CGM profit plunges 50% even as disruptions lift quarterly revenue past $13bn Liner operator says volatile macroeconomic and geopolitical environments could continue to affect fluidity of maritime Iran releases crude cargo from seized Greek tanker Iraqi oil was transferred to a Turkish ship for refiner Tupras Eukor Car Carriers takes six newbuildings from wider Wallenius Wilhelmsen haul Methanol dual-fuel PCTCs are also ammonia ready China's pivot to Mongolian and Russian coal to slash capesize bulker demand, says Drewry Nearly 80% of imports now come from Asian neighbours, cutting tonne-mile demand Royal Caribbean loses $3bn in market value despite rosy earnings report Investors see signs of weakness in quarterly report that seemed to do everything right

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JULY 26, 2024

FedEx to cut daytime domestic flight activity by 60% FedEx will fly fewer aircraft and go to fewer U.S. cities starting this fall as a consequence of the U.S. Postal Service giving its primary air cargo contract to a competitor.