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JANUARY 31, 2024

CONCOR registers excellent financial results in Q3 India 3rd largest economy in three years; $7 trillion by 2030: FinMin Prolonged Red Sea crisis seen impacting certain sectors Suez Canal Authority to mitigate shipping lines' woes amid Red Sea crisis CONCOR & Indian Oil ink non-binding MoU TVS ILP signs MoU with Goa-IPB, commits INR 125 crore for warehousing park Cargo insurance premiums rise Schedule reliability drops -5.0 percentage points in December SCI vessel first to discharge crude at newly commissioned Vadinar SPM Jan.tonnages well up on last year's levels Blue Dart's Q3 sales at INR 1,383 crore

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JANUARY 31, 2024

"Great opportunities" Intermodal link from the Atlantic to the Rhone Diversifying pharma product portfolio NCM lands new contract A seamless transition More support for the switch from road to rail Scuderia retains logistics partner Hapag-Lloyd tests the "new normal" Strengthening USA-Asia trade Lowe: new EVP for supply chains Port of Rotterdam opens charging station for e-trucks 8.5 million vaccines in six weeks Long sea route causes delays Preliminary trials for Liberty Lifter X-plane "Curiosity of the Day" GXO: two leadership appointments Two Californian short lines to upgrade network Amazon's Austrian addition Gothenburg on course

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JANUARY 30, 2024

Weak demand and overcapacity adding to carrier Red Sea stress Freighters diverted as Anchorage Airport weathers huge snowfall Point2Point Global appoints David Williams as head of customer solutions Analysis: Designed in China, made in Europe - the new EV transition? Hapag-Lloyd unveils 'significant decrease in earnings' in 2023 News Podcast | Jan 2024 | Shippers demand liner transparency, Maersk/Hapag Gemini 'game-changer', Red Sea crisis domino effects US port capacity - time to get a strategy Sirius Air Cargo gets clearance for take-off from Busan's Gimhae Airport IAG Cargo eyes a wider network as e-commerce and hi-tech traffic grows Charles van der Steene is Maersk's new regional president, North America

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JANUARY 30, 2024

Coastal Virginia Offshore Wind gains two key federal approvals Richmond, Va., headquartered Dominion Energy says it has received the last two major federal approvals needed to begin construction of its 2.6-gigawatt Coastal Virginia Offshore Wind (CVOW) project, keeping the largest offshore Carnival Corporation reroutes 12 ships to avoid Red Sea transits The world's largest cruise ship operator, Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK), says that, "given recent developments and in close consultation with global security experts and government authorities," it has Na Hiro E Pae will sail the South Pacific with an eSAIL An 89-meter long mixed cargo/passenger vessel to be built at the Armon Shipyard in Spain for Papeete, French Polynesia, based SNA Tuhaa Pae is to be fitted with a 22 meter high

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JANUARY 30, 2024

Box lines launch Red Sea services despite Houthi risks Mainline operators which are still offering Red Sea services are configuring their routes to transit the troubled region. Hapag-Lloyd has launched an ad hoc Jeddah Express (JDX) service calling at Tanger Med, Damietta, Jeddah, Damietta, Tanger Med to enable cargo connections to Jeddah that have been affected by the Red Sea blockade. The service will connect to Jeddah via the Suez Canal from the n The Red Sea Under The Microscope: A Deep Dive Into Suez Canal Rerouting And Its Consequences The following report has been written by VesselBot, a technology company with deep logistics market expertise that brings transparency to Scope 3 transportation emissions and enables companies to be confident in accurately and efficiently calculating their carbon footprint and work effectively toward compliance with ESG regulations. As container ships reroute around the Suez Canal to avoid disrup Port Saint John completes West Side Terminals Modernization Project The completion of the CA$205 million Port Saint John West Side Terminals Modernization Project marks a milestone for the Canadian port. The project, funded equally by the Federal Government, the Province of New Brunswick, and the Port, overcame challenges posed by the Covid-19 pandemic and global supply chain disruptions, finishing on time and within budget, even expanding in scope. Also, the wes ICTSI's 25-year concession drives modernisation of Iloilo Port The Philippine Ports Authority (PPA) has granted International Container Terminal Services Inc. (ICTSI) a 25-year concession contract for the development and operation of the Iloilo Commercial Port Complex (ICPC) in Western Visayas. This represents a significant stride in the transformation of ICPC into a modern, efficient, and premier gateway for the region, according to a statement. ICTSI was a Contrasting schedule reliability in Taiwan's container lines Sea-Intelligence has released the 149th issue of the Global Liner Performance (GLP) report, providing schedule reliability data up to and including December 2023 and covering schedule reliability across 34 different trade lanes and 60+ carriers. "Source: Sea-Intelligence.com, GLP Report, issue 149" Amid the Red Sea crisis, December 2023 witnes KEZAD Group expands its warehousing capacity Khalifa Economic Zones Abu Dhabi (KEZAD) Group, operator of integrated economic zones, has initiated the construction of over 250,000 square meters of warehousing capacity. With an investment of around US$170 million, this development aims to add pre-built industrial and logistics facilities by the end of 2025, increasing KEZAD's total warehousing capacity by 43%. Responding to robust demand for DP World boosts incentives for customers shifting freight from road to rail DP World has announced it is increasing its financial incentive by almost 50% to £100 ($127) for customers using its 'Modal Shift Programme'. Launched in September last year at DP World Southampton in the United Kingdom, this initiative aims to make intermodal rail more attractive to customers through well-considered financial incentives. Initially offering US$89 to customers utilizing rail trans Hapag-Lloyd sees financial figures decline amid slight box volume increase German ocean carrier Hapag-Lloyd reported a significant decrease in earnings in the 2023 financial year, while its container volumes saw a slight uptick. According to preliminary and unaudited figures, the Hamburg-based company's EBITDA stood at US$4.8 billion, and EBIT experienced a year-on-year decrease to US$2.7 billion. "This can largely be attributed to lower freight rates resulting from the Operating in anticipation of the next disruption is the new normal for shipping companies: Frank Kenney, director at Cleo Frank Kenney, director of Industry Solutions at Cleo, a supply chain connectivity and integration solution provider, spoke to Container News about the significant impact of geopolitical events in the Red Sea on global trade. The disruptions are reshaping the logistics landscape. Kenney explained the need for companies to embrace agility and resilience, as the new normal involves anticipating and

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JANUARY 30, 2024

Spanish suction sail system marks newbuild debut Spanish suction sails developer bound4blue has secured its first contract for a newbuild vessel. The company has been selected to install a 22-m-high eSAIL system onboard the multipurpose cargo ship Na Pae e Hiro, set to deliver in 2026. The newbuild will operate between Tahiti and the remote Austral Islands in the South Pacific for ... Seanergy lines up capesize for hydrogen retrofit Nasdaq-listed Greek capesize specialist Seanergy Maritime has joined a European Union-backed project aiming to demonstrate the use of hydrogen as a fuel source to generate electricity onboard while also covering part of the ship's propulsion needs. Under the so-called Safecraft (Safe and Efficient Use of Sustainable Fuels in Maritime Transport Applications) initiative, the Stamatis Tsantanis-led Sapura Energy faces $54m arbitration claim over Taiwan wind farm contract Malaysian offshore contractor Sapura Energy and subsidiary Sapura Offshore have been served with a $54m arbitration claim from Yunneng Wind Power, developer of a wind farm offshore Taiwan. Sapura won a contract to transport and install monopiles at the Yunlin offshore wind farm in March 2019 but terminated it in February 2022, citing unresolved technical ... Amazon buys more than half of Moray West capacity E-commerce giant Amazon has signed a corporate power purchase agreement (CPPA) to increase its share of output from the Moray West offshore wind farm in Scotland. The CPPA signed with Engie, which is a 50-50 owner of the Ocean Winds JV with EDP Renewables, increases Amazon's output share to 473MW when the site becomes operational ... Scarborough pipeline damaged in incident on Saipem's pipelayer Woodside has been forced to stop installation of an offshore gas pipeline on its $12bn Scarborough gas project after an incident on Saipem's Castorone pipelayer punched a hole in the pipeline. According to Australian media outlets, the Castorone pipeline installation vessel lost control of the pipeline during installation on Monday which required an evacuation of ... Wallenius Wilhelmsen scores $1.2bn in shipping deals Norwegian car carrier operator Wallenius Wilhelmsen has signed two multi-year shipping deals worth around $1.2bn. The first deal is with an undisclosed construction and mining equipment manufacturer with a duration of three years, plus a two-year extension option. The contract is valued at around $1bn in total, based on expected volumes over the three years. ... Foremost bulker rams bridge in Argentina A kamsarmax bulk carrier of US-based Foremost Group has suffered damage after crashing into a bridge in Argentina. The Liberian-flagged 85,000 dwt reportedly suffered a rudder failure and hit sideways against one of the piles of the Bartolomé Miter Bridge of the Zárate Brazo Largo Complex, temporarily blocking navigation on the Paraná River. The incident ... Livestock carrier with 16,000 animals stranded awaiting quarantine decision Things have gone from bad to worse for livestock onboard the carrier which now sits off the coast of Australia almost a month after its departure. The 2010-built, 7,900-dwt livestock carrier, formerly known as the Ocean Outback - registered to Israeli-based Bassem Dabbah Shipping and operated by Korkyra Shipping - left Freemantle on January 5 ... Eastern Pacific Shipping back at Jinling for more car carriers Singapore-based Eastern Pacific Shipping (EPS) has returned to China Merchants Jinling Shipyard with a deal for two dual-fuel car carrier newbuilds. The Singapore-based company with more than 70 newbuilding projects on its books has once again signed up for LNG-powered 199.9 m long ships, able to transport over 7,000 units each and are estimated to ... Seadrill bags $100m in deals for drillship pair Offshore rig operator Seadrill has won a pair of contracts worth around $97.5m for two of its drillships. Houston-based Talos awarded the West Vela a contract with an estimated duration of 150 days in the US Gulf of Mexico. The contract is expected to begin in the third quarter of 2024 and represents a total ... Two vessels freed following Somali pirate hijackings Two fishing vessels - one from Iran and the other from Sri Lanka - have been freed following hijackings by Somali pirates. Seychelles forces rescued a Sri Lankan fishing boat on Monday, while the Indian Navy said it had freed an Iranian-flagged fishing vessel. Somali pirates are back hunting targets while Houthis to the north ... ICTSI wins concession to develop Philippine box terminal International Container Terminal Services, Inc (ICTSI) has won a 25-year concession deal to develop and operate the Iloilo Commercial Port Complex in the heart of the Philippines. ICTSI will rename the facility Visayas Container Terminal. The port has 627 m of operational quay length and 20 hectares of land for container and general cargo storage, ... The missing ingredient for those working onboard R-E-S-P-E-C-T. Find out what it means at sea. Steven Jones, founder of the Seafarers Happiness Index, channels Aretha Franklin to make his point about declining levels of contentedness across the world's oceans. If we ever begin to question the power of

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JANUARY 30, 2024

US to let Venezuela oil sanctions exemption expire in April The US has revoked a general license for transactions involving Venezuela's state-owned gold mining corporation Minerven, and says it will... Seanergy becomes first Greek shipping company in Safecraft Aim is to develop and demonstrate safety of alternative fuels for shipping and hasten industry adoption The Lloyd's List Podcast: What happened to supply chain resilience? Between Black Sea disruption and two key canals choking under the pressure of climate and war, a triple whammy of... Gabon emerges as Russia's new best (maritime) friend to flag Russia-linked tankers Most of the new tankers joining the little-known flag, which operates from the United Arab Emirates, were deflagged in 2023... Yoda lifts stake in Capital Product to 24.7% Ioannis Papalekas-controlled company is building its position as Nasdaq-listed shipping firm refocuses squarely on LNG carriers First Asia-bound Russian oil cargoes seen loaded on VLCCs to avoid Red Sea risks More than 70 tankers have diverted from the Red Sea since US-led military strikes on Houthis began on January 12... Brexit revisited: Few benefits for UK maritime four years on Free trade deals yet to materialise in any number, even if hope springs eternal Red Sea woes will not resolve box shipping overcapacity Capacity soaked up by diversions will 'barely move the needle' on supply and demand. As carriers reschedule, supply lines will... Wallenius Wilhelmsen signs new contracts worth $1bn Contracts will support Wallenius Wilhelmsen's decarbonisation, efforts such as biofuel bunkering and other technical and operational improvements to its existing... Castor continues profitable bulker clear-out Nasdaq-listed owner expects to make $9m gain on sale of panamax pair to kin of chief executive Twelve tankers stranded with unsold Russian oil as sanctions enforcement limits sales US black listing over past four weeks of sanctions-busting tankers has reduced buying appetite for Sokol grade cargoes, which are... Cansi to introduce new criteria for shipbuilding quality China's shipbuilding association predicts a steady market in 2024 despite declining orders since last year Hapag-Lloyd earnings plummet as freight rates halve Hapag-Lloyd volumes were affected in the last month of the year by Red Sea diversions. But its results show the... ICTSI wins 25-year concession to run central Philippines port ICTSI will invest in infrastructure upgrades, cargo-handling equipment and operational efficiency measures aimed at transforming Iloilo port into a premier... Daily Briefing Charterers reassess Red Sea risk in light of Marlin Luanda attack | Carrier reliability remains below pre-pandemic levels | Saltchuk... Charles van der Steene named new Maersk's North America regional president amid executive team reshuffle Maersk veteran Charles van der Steene has been appointed as the company regional president for North America. He will be...

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JANUARY 30, 2024

CMA CGM inks UAE deal to lock in green fuel supply The carrier is the latest to partner with an alternative fuel supplier as the fast-growing dual-fuel orderbook puts producers of green energy under pressure to rapidly scale up supply. AI is impacting logistics at a faster pace, but in the background Artificial intelligence is quickly being integrated into everyday logistics and shipping processes such as truck check-ins, rate quotes and freight payment. Share of China imports to US dipped below 40% last year amid sourcing shift China commanded 47% of the inbound container volumes to the US as recently as 2018, but rising geopolitical tensions between Beijing and Washington and a post-COVID shift in manufacturing momentum to Southeast Asia have cut into China's dominance. Rising costs, lack of infrastructure stymieing US wind buildout Hurdles slowing the US wind buildout are very real, and the Biden administration's goal of 30 GW of offshore wind by 2030 appears increasingly unrealistic. ONE secures approval for design of ammonia-fueled container ship Ammonia is in its very early stages as a potential marine fuel, with regulations pertaining to complex safety and operational issues still being developed at the IMO.

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JANUARY 30, 2024

Retailers warn US Congress over Red Sea crisis' impact on contract freight rates But MSC's Bud Darr says liner industry has 'surge capacity' to handle crisis New US investor eyes 15-strong LNG carrier fleet as it snaps up AG&P terminals arm Nebula Energy will need vessels in the next three years to serve upcoming projects Retailers warn in US Congress over Red Sea crisis' impact on contract freight rates But MSC's Bud Darr says liner industry has 'surge capacity' to handle crisis New US investor eyes 15-strong LNG carrier fleet as it snaps up terminal developer AG&P Nebula Energy will need vessels in the next three years to serve upcoming projects Navig8 Group tanker fleet at centre of $1.2bn sales talk Suggestions are firmly denied by major owner-commercial manager's chief executive Capesize dealmaking bounces back as Greek owner Veniamis sells to China Owners betting on Chinese economic growth generate the first transaction for a big bulker in two weeks Adnoc L&S lines up gas carrier haul worth up to $3bn Abu Dhabi-based owner floats tender seeking slots for 10 LNG carriers and four VLAC newbuildings Seanergy to retrofit capesize for hydrogen power in EU Safecraft scheme first Greek owner will use the green fuel for electricity generation and some propulsion needs With container freight rates flatlining, has the Red Sea windfall peaked? Tight supply continues to provide unexpected lift to container markets - but for how long? Saipem vessel 'rips gaping hole' in Australian gas pipeline Italian owner says Woodside Energy facility will be repaired World's largest iron ore mine helps boost Vale production beyond expectations Brazilian miner exceeded its production guidance for iron ore in 2023, a rare occurrence Oaktree-backed owner GEOS beats spot market with $14m term deal for former Vroon PSVs Alesund owner ties up two ships for North Sea operations Greek shipowners withdraw from Russia crude trade over sanctions fears Vortexa data suggests trend away from Russian crude liftings since US tightened price cap enforcement Galveston LNG Bunker Port secures Texan site for planned plant New facility to be operational by 2026 with bulk of production offered to marine market Cleantech supplier Bound4blue secures debut newbuilding order for suction sail Spanish firm wins first contract as global interest in wind assist system surges Animals still stuck on sweltering livestock carrier ordered to return to Australia from Red Sea Australian media reports stalemate over the Bahijah between exporter and government Emergency UN anti-piracy meeting called for by Indian Ocean Commission Move comes amid concerns of a new wave of Somali piracy Tankers set for a boost as Aramco told to halt crude capacity hike, says Fearnley Saudi Arabian producer keeping maximum output at 12m barrels per day Stefan Bulow buys polar training ship for new maritime sustainability mission Former Hamburg Bulk Carriers boss to refit SA Agulhas as research vessel in support of UN Ocean Decade programme Tankers set for a boost as Aramco told to halt crude output hike, says Fearnleys Saudi Arabian producer keeping maximum output at 12m barrels per day CMA CGM and Masdar ink 'strategic' agreement on green fuels French carrier plays 'energy agnostic' card in deal with UAE-based clean energy player Gas carrier arrivals in Gulf of Aden close to zero as product tankers numbers drop 58% Houthi attacks deterring all types of vessels in significant shift, Clarksons Research say West Africa fuel demand boosting LR2 tankers as ships divert from Red Sea, BRS says Broker identifies another factor working in favour of clean tankers as Houthi attacks continue Tanker banned from European ports after skipping repair yard MR tanker Arina 1 was detained for nearly three months in Germany for a string of failings Euronav likely to stick with fleet renewal, says DNB Norwegian bank cuts share price target to $17.9 from $18.4 Italian FSRU to be taken out of service for seven-month repair job Operations at Livorno-based unit to be suspended from April to October for 'extraordinary maintenance' Charterers pressuring shipowners into risking Red Sea danger zone, says Allseas' Bodouroglou Chairman says some charterers are threatening legal action and pushing for war risk clauses to be struck out Red Sea impact felt as Hapag-Lloyd slumps to a loss in post-boom markets German line sees freight rates almost halve over the course of 2023 Wallenius Wilhelmsen inks new contracts worth $1bn Agreement with construction and mining equipment manufacturer runs for three years, plus extension options Rising star Maiju Stockel-Kvamme appointed COO of the Norwegian Hull Club New position created at mutual hull insurer after management changes Transocean scratches seven-year newbuilding itch with bulker deal in China European company has ordered two ultramaxes to be delivered in 2026 Shadow fleet tanker detained in Gibraltar after 'Russian crew left unpaid' MR tanker linked to India's Gatik Ship Management makes rare call at European port after crew complaints US holds off from restoring oil sanctions, despite Venezuela's political backsliding However, Biden administration has rescinded a licence awarded to the South American nation's state gold producer Arcadia Shipping linked to $20m sale of 24-year-old LNG carrier LNG sector grapples with sluggish sale-and-purchase activity in recent months

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JANUARY 30, 2024

Is the Red Sea effect on container shipping being overblown? Houthi attacks and Red Sea diversions will not spur inflation or a new supply chain crisis, claims consultancy Drewry. Red Sea cargo diversions could affect 2024 holiday shipping Retailers and ocean carriers assess the possible effects in the U.S. if supply chain disruptions in the Middle East continue. Vizion partners with Dun & Bradstreet on risk management offering Supply chain visibility provider Vizion is partnering with D&B to launch its new solution, TradeView.