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AUGUST 30, 2024

PM to lay foundation stone for Vadhvan mega port project today Maritime SheEO Awards 2024 calls for entries Sarbananda Sonowal approves wage structure revision for workers of Major Ports E-commerce export hubs projected to generate over 2.25 lakh new jobs; to transform logistics sector New DFCCIL MD focusing on expanding Gati Shakti cargo terminals IMO Secretary-General again calls for immediate end to the 'illegal, cowardly & unjustifiable' attacks on international shipping in the Red Sea MoPSW's proposed maritime strategy dialogue aims to advance global maritime goals Department of Economic Affairs amends Securities Contracts Regulation Rules, facilitating direct listing of securities by public Indian companies on International Exchanges of GIFT IFSC GDP seen at 7.1 pc in Q1: SBI Thermal coal imports seen picking up from Sept.

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AUGUST 30, 2024

Checking freight wagons as they roll past Closing the Karinca Logistics merger Thai Airways picks Indian GSSA Containership fires trigger TT safety alert Building an air-rail-road hub in Liège DHL supports wastewater business More responsibilities for Michael Jerogin SAS emerges from restructuring proceedings E-sail technology set to cut costs and emissions Switzerland: increasing road safety From the USA to Canada and back Competec regroups "Curiosity of the Day" X2.3 to complete first hover flight Tecplata expands capacity ZTO Express to optimise its logistics network Three e-trucks for Vienna Supporting foreign personnel working in Japan

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AUGUST 29, 2024

Transpacific rates war breaks out as new arrivals undercut major liners Surcharges add up for parcel shippers - and there may be more to come Dark skies - pain in the air down under Arrival of new box ships and fewer blank sailings should ease port congestion Railfreight round-up: Russia discounts; new locos for KTZ; UK fee waivers Gemini's hub-and-spoke strategy will 'fuel demand for feeder vessels'

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AUGUST 29, 2024

VIDEO: Tymor Marine offers a new solution for performing draft surveys For centuries, draft surveys-an essential measurement to determine the weight of a vessel and its cargo-have been conducted manually, relying on the judgement of the human eye. This traditional approach is susceptible Hempel introduces new Hempaguard Ultima hull coating Hempel has introduced a new two-layer hull coating system called Hempaguard Ultima. It combines the company's proven Hempaguard X7 with a new biocide-free silicone topcoat, Hempaguard XL, to prevent the growth of

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AUGUST 29, 2024

IRS-classed tanker MT Elgon ready for Lake Victoria operations The Indian Register of Shipping (IRS), a premier international classification society, announces the successful delivery of the Double Hull Oil Tanker 'MT ELGON' on 16 August 2024. Constructed by Mahathi Shipyard Uganda and adhering to IRS's rigorous classification standards, this vessel is set to operate on Lake Victoria, catering to Uganda, Kenya, Rwanda, and Tanzania. The 'MT ELGON' boasts a m Maersk's methanol ship docks at LA's green APM Terminals Pier 400 Decarbonizing supply chains gains momentum as land and sea integrate, with "Green Corridors" enhancing global connections. The arrival of Maersk's revolutionary methanol-powered vessel at Los Angeles' APM Terminals Pier 400 highlights the alignment of future-forward ships with cutting-edge terminals. In addition, APM Terminals, participating in a pioneering electrification pilot across eight loca ONE introduces new services linking East Asia and Middle East Ocean Network Express (ONE) announced the launch of its new weekly services-"Gulf Asia Liner Express (GLX)," "Central China Middle East Express (CMX)," and "South China Middle East Express (SMX)"-which will connect East Asia with the Middle East. These new services will enhance coverage, boost connectivity, and increase frequency to Asia for this expanding trade route, complementing ONE's existin Asia's container exports to Europe surge 8% in June In June, container exports from Asia to Europe reached 1.59 million TEUs, marking an 8% increase compared to the previous year, according to data compiled by the Japan Maritime Center (JMC) and provided by the U.K.'s Container Trades Statistics (CTS). This rise in shipments, driven mainly by increased exports from China, has continued to climb for 16 consecutive months. Breaking it down by origin Global bunker indices trending up During Week 35, global bunker indices from MABUX experienced a moderate upward trend. The 380 HSFO index climbed by US$5.83 to US$529.18/MT. The VLSFO index saw a rise of US$16.99 to US$635.76/MT. The MGO index also gained US$6.07, reaching US$793.17/MT. "At the time of writing, there was no clear trend in the global bunker market," stated a MABUX official. The MABUX Global Scrubber Spread (SS)-t TT Club urges unified action to combat rising container ship fires Following a recent series of fires aboard container ships, TT Club, an international freight and logistics insurance provider, has emphasized the urgent need for all participants in the global supply chain to ensure accurate and effective communication when transporting dangerous goods. The past four months have seen four major incidents involving container ships-two in port and two at sea-which SeaLead relaunches Far East India Express 2 service SeaLead, a rapidly expanding global shipping line, is relaunching its Far East India Express 2 (FIX 2) service to boost connectivity between Central China and West India. The inaugural voyage is set for 12 September 2024. The FIX 2 service will provide a direct weekly route from Shanghai, with stops at Ningbo, Shekou, Nhava Sheva, and Mundra, skipping intermediary ports like Singapore and Port Kl MSC buys all four of Safetrans' ships Safetrans Line, the China-based Russia-focused liner operator, has cashed out on all four container ships. The Panamax vessels, SFT Egypt, SFT China, SFT Saudi and SFT Turkey, have all been sold to the Mediterranean Shipping Company (MSC), which continues to build its lead over its peers. The sales price of the ships was not disclosed, although Linerlytica stated in its report this week that Safe ESL expands Far East-Middle East network with enhanced services ESL has announced the revamp of the existing Galaxy (GLX) and Cosmos (CMX) services, along with the introduction of the new Sirius (SMX) service. Collectively, these services enhance overall connectivity between the Far East and the Middle East, providing the most extensive and in-depth coverage in the market. According to a statement, the Sirius service, named after the brightest star in the nig CN analysis: Container freight rates out of India begin to trend down after strong gains in July Container freight rates on trades out of India have generally moderated in August with the exception of bookings to Europe, according to an analysis of market data for by Container News. On the westbound India-Europe trade, average spot rates for loads from West India [Jawaharlal Nehru Port (JNPT)/Nhava Sheva or Mundra Port] to Felixstowe/London Gateway (UK) or Rotterdam in April have moved highe AD Ports Group enters global top-20 after Noatum acquisition According to a recent industry survey by Drewry, AD Ports Group has made its debut in the global top 20 rankings of world port operators. Ranked 19th globally, this achievement highlights the expanding influence of AD Ports Group's ports business, which has grown significantly following new operating concessions and the 2023 acquisition of Noatum, a company managing 16 terminals in Spain. AD Port Sea-Intelligence exposes ocean carriers' carbon calculators inconsistencies For the past 13 years, Sea-Intelligence has diligently analyzed the online carbon emissions calculators offered by ocean carriers, and over time, the firm has consistently uncovered significant discrepancies in the results these tools provide. "We did this exercise once again, focusing on Ocean Alliance, as all member carriers have publicly available carbon calculators. We specifically looked at Top 5 Challenges of Studying Abroad and How to Overcome Them Studying abroad is an enriching experience that benefits any student by helping them adapt to new cultures and academic environments. However, it also comes with its own set of challenges. From culture shocks to loneliness, the hurdles faced can be daunting yet not insurmountable. Here is an account of the top five challenges faced by students studying abroad and how to overcome them. 1. Navigati

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AUGUST 29, 2024

Diana Shipping locks ultramax bulker into charter with Cargill New York-listed Greek bulker owner Diana Shipping has entered into a time charter contract with Cargill for one of its vessels. Aquavita chartered the 2015-built, 60,508 dwt ultramax bulker DSI Pegasus for a gross charter rate of $15,250, minus a 5% commission paid to third parties, for a period until a minimum of June 1, ... After leaving Vietnam, Equinor nixes Spain and Portugal offshore wind plans Norwegian energy giant Equinor has opted to cancel all its offshore wind projects in Spain and Portugal only days after the company closed its Hanoi office and departed from Vietnam. The decision comes as Equinor decided to reign in its spending and to prioritise capital. Another reason is the ever-rising costs tied to the offshore ... What can we learn from the sinking of the Bayesian? Captain Kuba Szymanski, secretary-general of InterManager and a keen sailor writes for Splash today along with Jan-Erik Kruse, a professional airline pilot and yachtsman, offering a viewpoint on this month's high-profile superyacht tragedy off Sicily and the risks that come with blame culture, something that permeates across maritime. When the 56 m super luxury sailing ... New e-methanol plant on the cards in Sweden Swedish power-to-fuel player Liquid Wind has been selected by German utility Uniper to develop a new e-methanol facility in Sweden to produce fuel for shipping and chemical industries. Located in the municipality of Östersund, the project called NorthStarH2 is expected to deliver more than 100,000 tonnes of e-methanol, Düsseldorf-headquartered Uniper said. Once operational, the facility ... New careers await at Splash Jobs Summer holidays are coming to a close in the northern hemisphere and shipping is getting ready to get back to work. The end of August and the start of September often marks a significant churn point in shipping and offshore recruitment with many deciding for a career change. Over at Splash Jobs there are currently ... Crew wages inspection campaign kicks off this weekend The Tokyo and the Paris Memoranda of Understanding (MoU) on Port State Control are set to launch a three-month joint concentrated inspection campaign (CIC) on crew wages and seafarers' employment agreements from September 1. During the CIC, non-conformities could result in recording of a deficiency, instructions for the master to rectify, or even detention of ... Spar Shipping swoops on newbuild ultramax Norwegian dry bulk shipowner Spar Shipping has bolstered its fleet with a newly built ultramax. Multiple shipbroking outfits have identified the Bergen-based firm behind a resale deal worth slightly north of $38m for the 2024 Nantong Xiangyu-built Century Zhengzhou. The 63,600 dwt sister unit of Spar's recently delivered Spar Mira (pictured) was ordered in August ... Romania bids to take over Moldova's only port The Romanian government is in talks to buy Moldova's only port, amid interest from a Bulgarian company. The Port of Giurgiulesti, officially the Giurgiulesti International Free Port, is a port on the Danube River at its confluence with the Prut. It is Moldova's only port accessible to seagoing vessels, situated at km 133 of the ... TotalEnergies to power Culzean platform using floating wind French energy major TotalEnergies has launched a pilot project consisting of a floating wind turbine to supply renewable power to the Culzean offshore platform in the UK North Sea. The 3MW floating wind turbine will be located two kilometres west of the Culzean platform, 220 km off the eastern coast of Scotland. The turbine, expected ... Lithuania to relaunch second offshore wind tender Lithuania's State Energy Regulatory Council (VERT) has set a new date for the second offshore wind auction in the Baltic Sea after the first attempt fell through in April due to a lack of interest. The repeated tender for the 700MW wind farm in the Baltic Sea is planned to be announced on November 18 ... CoolCo seals one-year charter deal with energy major LNG carrier pure-play Cool Company (CoolCo) has secured a new charter deal for one of its TFDE vessels. The New York and Oslo-listed owner and operator said in its quarterly earnings report that an unnamed energy major had fixed the vessel for one year, with the charter starting in the third quarter of this year. ... Houthis will allow salvage teams to attend to blazing Greek tanker Iran's mission to the United Nations said yesterday that the Houthis in Yemen will allow salvage teams to head to the badly damaged Sounion suezmax tanker in the Red Sea, and let it be towed. The ship was attacked multiple times by the Houthis in international waters between Yemen and Eritrea eight days ago. The ... Indian dockworkers accept new pay deal The Indian government has announced a wage deal has been struck with dockworkers, ending nearly three years of negotiations. Port workers had threatened to go on strike indefinitely from yesterday if no pay deal was agreed. A previous pay contract expired in December 2021 There are around 20,000 permanent port workers employed across 12 major ...

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AUGUST 29, 2024

Cosco joins carrier ordering spree with $2.2bn methanol-powered ships With the latest deal, Cosco's containership orderbook capacity increases to about 800,000 teu, making it second only to MSC and... Tanker surprise: Spot rates for exports of Canada's TMX down double digits Shipping loves stories about catalysts - about new cargo sources or new routings that will theoretically propel rates higher. Canada's... Generali leads slip on Red Sea tanker blaze cargo Houthi attack designed to increase pressure on marine insurance markets, some underwriters suspect Falsely flagged 'dark fleet' tanker sold for scrap after being banned from UAE waters Sale to undisclosed breakers at discounted price valued the tanker at $9m. The UAE banned all Eswatini-flagged tankers from its... Russian traders give ships a 'Bosporus paint job' to conceal identities Rough-and-ready concealment of hull details seen escalating this year at chokepoint, as ships laden with grain and oil from Russian... State funding critical to future of Portland's container terminal The US container terminal was saved from closure after intervention from Oregon's governor, but long-term investment and a third-party operator... Hanwha Ocean seals South Korea's first US Navy MRO contract The deal is expected to help the US restore maritime power with the help of its South Korean ally BIMCO forecasts better 2024, weaker 2025 for tankers Rebounding oil demand will help this year, but new ships and a (possible) return to shorter routes will boost supply... Brunei's China-backed Muara port starts expansion with $280m investment Brunei launched its first direct container shipping route to China in the past year, connecting Muara with Qinzhou The week in charts: Israel port volumes fall | Containership data signals very strong August for Los Angeles | Suezmax and aframax lead tanker newbuildings Israeli authorities are seeking to reassure the shipping community that its ports are safe despite the war, data shows cargo... Red Sea volatility pushes CSSC Shipping first-half profit up by 23% Lessor CSSC Shipping sees positive prospects ahead as the US Federal Reserve looks set to start an easing cycle. The... Seacon first-half profits double on tankers bet Buoyant Seacon foresees continuing demand in the chemical product and related logistics segment in the future. It will keep an... The week in bunkers: Will Amsterdam spoil ARA mass flow meter party? Amsterdam has no plans to make mass flow meters mandatory in bunker deliveries, diverging from Rotterdam and Antwerp-Bruges Daily Briefing Nobody taking responsibility for potential Sounion oil spill costs | Nauru rejects flag hoppers amid US crackdown on sanction-busting shipowners...

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AUGUST 29, 2024

Carriers to deploy 'extra-loaders' to Los Angeles-Long Beach amid import surge The added capacity - 14 extra-loaders at each port -- comes amid peak season demand and an anticipated boost in discretionary cargo diverted from ports along the US East and Gulf coasts as shippers protect themselves from potential longshore labor disruption. Expected trade growth, inventory restocking to buoy H2 market: Cosco Shipping The carrier said it was "cautiously optimistic" about business prospects in the second half of the year, while acknowledging that a "complex geopolitical situation," delivery of new capacity and rising costs could provide headwinds in the coming months. US shippers increasingly uncertain about Q4 revenue, orders: industry survey The BlueGrace Logistics Confidence Index shows an uptick in negative sentiment about revenue and orders in late 2024, despite gains in freight volume this summer. California clean air rules imperil potential LA-LB port relief valve State environmental regulations could derail, or at the very least stall, a BNSF rail project promising to reduce pressure on Southern California ports. FMC upholds shipper retaliation ruling against Hamburg Sud The US maritime regulator said the ocean carrier did not simply have a contractual dispute with a shipper but instead clearly violated the US Shipping Act. Container shipping market continues to be reset by ongoing Red Sea crisis The longer the bigger and more established carriers divert away from the Suez, the more we will see niche carriers solidify not only their financial position but also their customer relations in the region, writes analyst Lars Jensen. Canadian truck rates remain elevated following rail shutdown It may take a week or more for the trucking disruption caused by last week's brief Canadian rail stoppage to stabilize and for long-haul intra-Canada spot rates to drop. LA-LB rail dwells on the rise as port complex enters height of peak season While some customers worry rail container dwell times could worsen, port stakeholders say they are accustomed to the ebb and flow and can manage the recent import surge. CMA CGM Air Cargo launches trans-Pacific flights from Hong Kong to Chicago The service comes as air freight rates out of Hong Kong have stabilized but are still approximately 20% higher than this time last year, according to the Baltic Air Index. Container shipping navigates new hurdles in bid for a green fuel future Maersk's recent big order of dual-fuel ships - some of which will be powered by LNG - illustrates the quandary the carrier, and by extension container shipping, is currently in when it comes to achieving a zero-carbon future, writes Peter Tirschwell. US shippers expanding private truck fleets to haul more of their own freight Private fleets owned by shippers are increasingly hauling freight once moved by for-hire carriers, and those truck counts are expected to keep expanding, according to an industry survey. Portland pushing for third-party container terminal operator by January The port is looking to employ the landlord model used at other West Coast ports that would allow a private operator to manage the T6 terminal's daily operations and market the facility to ocean carriers and shippers. Chipolbrok expands MPV fleet amid flurry of new orders in sector A Journal of Commerce analysis reveals that the average age of MPVs now trading globally is rapidly approaching 20 years, with almost 12% of vessels 25 years or older. Canadian rail workers back on job after failed challenge to binding arbitration Despite workers returning to their jobs, the brief work stoppage will impact freight flows in Canada and the US for a few weeks. Capacity boost on trans-Pacific pushes carriers to compete for cargo Competition to fill ships in the eastbound trans-Pacific has become so intense in recent weeks that ocean carriers are offering a variety of special rates that are much lower than the spot rates they are quoting. High container rates, port congestion entice some shippers back to MPVs Most of the recent interest from shippers is for mode-malleable cargo - freight that can be easily switched between breakbulk and container modes. Healthy work orders come with turbine troubles for some wind manufacturers While manufacturers remain optimistic for the longer term thanks to hefty order backlogs, they have faced recent headwinds in the form of project slowdowns, rising interest rates, higher commodity costs and, in some cases, defective turbines. OOCL/Cosco to inject tonnage into new CMA CGM India-USEC string Hong Kong-based OOCL will contribute two vessels to the rebranded Indamex service that CMA CGM kicked off last week as a standalone operation after relinquishing its long-time consortium arrangement with Hapag-Lloyd. North American cargo crime takes big jump as thieves get more organized The wave of cargo thefts hitting the US and Canada grew rapidly in the first half of the year as criminals became more sophisticated, a study from risk management firm Overhaul shows. Canada's Labour Minister orders end to rail work stoppage via binding arbitration The directive came about 17 hours after Canadian National Railway and Canadian Pacific Kansas City locked out more than 9,000 workers early Thursday, snarling supply chains for US and Canadian businesses that rely on trains to transport their cargo. Ocean carriers reviewing Western Canada calls amid rail lockout The Port of Vancouver is still berthing ships for now, but ocean carriers are reviewing future calls due to the potential for congestion caused by the Canadian railroad work stoppage. UP joins peers in assessing peak season surcharges for Southern California Demand for domestic containers in the region has exceeded all other North American markets and intermodal providers believe more volume will be coming their way in September. Canada rail shutdown squeezing truck capacity, including cross-border supply There's not enough truck capacity to haul the volume carried by CN and CPKC in Canada, and that's causing a dislocation of truck supply across the country and on the US border. OOCL H1 profit falls, but no signs of slowing headhaul demand The Cosco subsidiary said its ships on the trans-Pacific and Asia-Europe trade lanes are fully loaded with volume secured at high rate levels. Supply chain transparency mandate looms over customs brokers' technology plans A range of supply chain mapping and risk management tools have emerged in the past decade, many aimed at customs brokers and third-party logistics providers. Canadian ports, liner operators bracing for rail strike impact Canada's western ports have little capacity to handle idled intermodal cargo should railroad workers strike, but eastern ports have more space to manage any delays. Refurbishments, new projects driving Gulf of Mexico wind cargo uptick Ports along the US Gulf are beefing up infrastructure, equipment, capacity and dock strength to handle king-sized onshore turbines. Asia-Europe ocean market seasonality 'kicking in': BCO network Many European shippers are locked into the peak season that will extend the high volume of Asian imports through the third quarter despite the early movement of orders to mitigate disruption from the longer Red Sea routing. India-US carriers drop August rate hike plans as market begins to resettle As competitive pressures build from a capacity boost on the trade lane, carriers are said to be extending significantly lower rates to their select customers, generally with a validity of one or two weeks. Technology, imports drawing logistics investment to Phoenix A key inland transportation market is growing as companies from Class I railroads to specialized logistics firms chase freight and expand in Arizona's "Silicon Desert." Intermodal providers prep for peak season uptick in Southern California Peak season surcharges are in play this year amid the demand bump, but the average shipper should still be saving money on the rails compared with trucking on business out of the region. US CBP increasing scrutiny of customs brokers as e-commerce exposure rises A flood of duty-free shipments from Asia has upped the ante on brokers having broad knowledge of the upstream supply chains used by their importer clients. Hamburg's H1 volume ticks lower despite solid US trade growth Slowing trade with China and carriers adjusting port schedules were factors behind a drop in first-half volume at Europe's third-largest port. Restocking begins on trans-Atlantic ahead of potential labor disruptions The first signs of US importers beginning to advance shipments from Europe to get ahead of possible terminal closures along the US East and Gulf coasts at the end of September are being reported by carriers and forwarders. Tacoma marine terminals grappling with heavy import rail congestion Container lines calling in Tacoma say the congestion is being caused by a surge in import volumes and a shortage of rail cars that is likely to last at least through August. US port strike would have Red Sea-like 'global impact': ZIM CFO A prolonged work stoppage at ports along the East and Gulf coasts would put global shipping under stress in a manner similar to the forced vessel diversions around southern Africa, Zim's Xavier Destriau told the Journal of Commerce. Procurement software acquisition gives Freightos deeper contract freight reach Most of Freightos' traction in air and ocean freight procurement has centered around spot pricing, but the purchase of Shipsta will give it access to contract data from enterprise shippers. Canadian railroads start scaling back business ahead of potential work stoppage A shutdown of Canada's two freight railroads would not only impact loads in that country, but also cross-border traffic to US destinations such as Chicago. Scrapping of Swedish e-fuel plant a setback to net-zero push: Methanol Institute The fuel that would have been produced at the Ørsted plant was meant to provide a vital contribution to the supply needed in the coming years to power the fast-growing methanol-enabled fleet. Air cargo shrugs off seasonality to ride wave of e-commerce demand Chinese online marketplaces have hit on a rich vein of business-to-customer volumes, with the current boom in international air freight driven by cross-border e-commerce rather than a recovery of traditional manufacturing. Ro/ro cargo rates rise despite falling demand Major roll-on/roll-off carriers reported climbing net rates in the first half even as demand for machinery and rolling stock faltered and a congested shipping market tightened capacity. Trans-Pacific rate push tests health of early peak season Carriers on Thursday announced general rate increases of $200 to $400 per FEU, although forwarders say the GRIs could deteriorate quickly due to options such as voyage-specific "bullet" rates and lower pricing offered by non-alliance carriers. Potential strikes could upset muted trucking outlook Disruption to inland supply lanes and the location of truck capacity would be possible if rail and port strike threats prove real, analysts told a Journal of Commerce webcast.

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AUGUST 29, 2024

Analysts underwhelmed by NAT's prospects despite earnings beat Two researchers reduce price targets on expectations for softer third-quarter rates QatarEnergy's long-delayed US LNG export project seeks three-year extension Bankruptcy of main contractor adds to setbacks at Texas LNG plant VLCC rates plunge to lowest point of 2024 as Unipec fixture draws Middle East down further August gains erased but futures still point to stronger winter European Maritime Finance confirms Atlas order for three ammonia carriers Order worth $372m set to deliver by end of 2027 Maersk CEO calls for IMO action as Olympic snowboarder names methanol-fuelled ship Liner giant's chief calls for IMO to adopt Green Balance Mechanism policy Brussels turns screw on shipping's polluters after anticlimactic carbon trading rules Brussels' law enters into force in January, but it is already having an impact CoolCo eyes short-term winter play before long-term hire for LNG newbuilding Exit of just 40 steam turbine ships needed to balance market Only way is up: Nordic American Tankers bullish on suezmax market after profit dip Boss Herbjorn Hansson talks up million-barrel sector due to low ordering levels Vanguard of shipping companies invest in green fuel production Blue-chip names put money into start-ups to make the technology possible Dividend arms race in product tankers playing out with one major player missing in action Streetwise takes a look at how the robust clean market has spurred shareholder payouts Brussels turns screw on shipping's polluters after anti-anticlimactic carbon trading rules Brussels' law enters into force in January, but it is already having an impact Russian state shipowner Sovcomflot sees profit slashed amid sanctions squeeze Shipowner still trying to overcome 'emerging challenges' from Western measures over Ukraine war 'Capital custodian' Cadeler choosy with new business as client calls come in Just because you have the opportunity to do something doesn't mean you should, offshore wind giant's boss tells TradeWinds Why electric car production in China is helping boost the coffers of capesize bulker owners Bauxite shipments hit a monthly record, and China has been sourcing the ore from unconventional destinations Small container ships eye bonanza from liner sector's next big shake-up Upcoming Maersk and Hapag-Lloyd tie-up bodes well for vessel demand, says MPC Container Ships chief executive US sanctioned LNG carrier heads to giant Russian FSU amid offloading speculation Will two shadow vessels discharge their Arctic LNG 2 cargoes for storage? 'We can walk and chew gum': Oystein Kalleklev mulls future of Avance Gas Discussions are underway on sale or charter of remaining vessels, as well as mergers Speculation mounts over sanctioned carriers offloading LNG at Russian storage units Will two US-sanctioned vessels discharge their Arctic LNG 2 cargoes for storage? Tug action steps up around Russian FSU amid offloadings speculation Will two US-sanctioned vessels discharge their Arctic LNG 2 cargoes for storage? Tanker bookings in focus as Fearnley tips earnings miss for Frontline Investment bank believes higher number of ballast days for former Euronav VLCCs will hold back giant owner's profit VLCCs keep taking a beating as charterers strengthen chokehold on market VLCC time-charter equivalents slipped by more than $2,000 per day on Wednesday Maersk lines up $6.6bn order run as LNG-fuel pivot takes shape Company pencils in a raft of up to 62 newbuildings and chartered vessels at South Korean and Chinese yards Ernst Russ reveals collision and grounding incidents as ship sales boost profit German owner details off-hire and repairs in otherwise smooth first half Awilco-backed IWS clinches fleet refinancing worth €187m Offshore wind vessel owner has debt in place ahead of delivery of four new ships Helix Energy scores $786m Petrobras charter for offshore duo US operator scoops three-year deals in Brazil for well intervention vessels Dramatic pictures show fire burning on tanker hit by brutal Houthi attack. Oil still onboard EU naval force does not play down risk of a Red Sea catastrophe Investors 'too cautious' on bulker company stocks, Clarksons says Analysts say next to no fleet growth in coming years will keep markets healthy CoolCo offers in its next up LNG newbuilding in ongoing tenders 'Drawn-out' dry-docking along with lower charter rates and management fees hit figures Pacific Basin finance chief heads for exit after little more than a year Hong Kong bulker specialist starts hunt for successor Trafigura strikes biofuels deal with John Fredriksen venture in drive to tackle upcoming EU rules Supply agreement could provide any of the 300-ships wet freight book with low-carbon fuel Houthis agree to give tugs access to damaged Delta tanker in Red Sea Yemeni rebel group says latest move is being made out of consideration for humanitarian and environmental concerns Expanding Hong Kong owner Seacon sees first-half profit triple Nearly 18 months on from its IPO, shipowner's growth trajectory remains on course Aframax tanker tied to dark activities sold for recycling at very low price Brokers say increasing number of older dark fleet tankers are being circulated for scrap sale but few will buy them

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AUGUST 29, 2024

Former Polar Air Cargo executive receives 18-month jail sentence A former executive at Polar Air Cargo received jail time as punishment for defrauding the company. Atlas Air to invest in Anchorage base expansion as e-commerce surges Freighter operator Atlas Air is ready to invest in a major expansion at Alaska's Anchorage airport that would potentially allow it to conduct cargo transfers there for the first time.