Fincantieri Marinette Marine awarded two additional Navy frigates The Department of Defense recently announced that Fincantieri Marinette Marine, Marinette, Wis., was awarded a contract valued at a billion dollars (USD) to build two additional Constellation-class Frigates, FFG 66 and FFG
Ship Repair USA to feature panel on yard challenges and solutions Every sector of the maritime industry has its own set of challenges, including ship repair yards. To go over those challenges-and how to overcome them-will be a panel of ship repair and
Metal Shark wins U.S. Navy patrol boat contract Louisiana-based boat builder Metal Shark is one of two builders awarded a seven-year U.S. Navy indefinite delivery/indefinite quantity (IDIQ) contract worth up to $290 million to produce up to seventy-three 40-foot "40
Ports of Stockholm and BPO seek funding to enhance collaboration with Ukrainian ports In collaboration with partners, Ports of Stockholm is seeking funds through the Swedish Institute's Ukraine Cooperation Program to facilitate the integration of Ukrainian ports into the European Union (EU) transport network. Ports of Stockholm, along with the Odessa-based law firm Interlegal and the Baltic Ports Organization (BPO), is seeking funding from the Swedish Institute for a preparatory p
AD Ports Group inks MoU with Economic Development Board of Madagascar AD Ports Group has signed a Memorandum of Understanding (MoU) with the Economic Development Board of Madagascar to explore a dynamic partnership to enhance commercial opportunities in Madagascar's maritime, industry, and logistics sectors. The agreement was signed by Mohamed Eidha Al Menhali, regional CEO of AD Ports Group, and Josielle Rafidy, general manager of the Economic Development Board of
Hapag-Lloyd introduces peak season surcharge from Asia and Oceania to South Africa German container line Hapag-Lloyd has announced a peak season surcharge (PSS) from Asia and Oceania to South Africa, effective from 6 June until further notice. The Hamburg-based ocean carrier will apply a US$1,000 per TEU from Asia and Oceania (Brunei, Cambodia, China, Hong Kong, Indonesia, Japan, Korea, Laos, Macau, Malaysia, Myanmar, Philippines, Singapore, Taiwan, Thailand, Vietnam, Australia
Record low shipping losses amid rising sector risks Maritime safety is paramount, with up to 90% of global trade traversing oceans. Three decades ago, the international shipping industry experienced the loss of around 200 large vessels annually. However, this figure dramatically dropped to a historic low of 26 in 2023, marking a year-on-year decrease of over one-third and a 70% decline over the past decade. Despite these advancements, the sector f
Port Authority of Gijón migrates management system to the cloud with Prodevelop and AWS Building on the migration of Posidonia PCS to the cloud just over a year ago, the Port Authority of Gijón has now transitioned Posidonia Management, its Port Management System (PMS), to the cloud as well. The PMS is a programme that is designed for the internal management of the port, streamlining administrative tasks such as invoicing, public domain management, and technical-nautical services. W
Yang Ming to join league of 24,000 TEU ships Yang Ming Marine Transport's management has hinted that the company will enter the league of 24,000 TEU boxship owners. Speaking at a shareholders' meeting after releasing the Taiwanese liner operator's 1Q 2024 results, GM Patrick Tu said: "On the Asia-Europe routes, we have a competitive advantage because of 24,000 TEU ships, but these belong to our fellow THE Alliance members and, we can't alwa
CMA CGM hit with US$2 million fine by FMC The United States Federal Maritime Commission (FMC) has entered into an agreement with French ocean carrier CMA CGM, after the investigations by the Commission's Bureau of Enforcement, Investigations, and Compliance (BEIC). CMA CGM paid US$1,975,000 to resolve allegations that it overbroadly defined and applied its definition of merchant in a bill of lading to demand payment from a third party wh
War of attrition could prolong Cape diversions Conflict in the Red Sea and Bab al-Mandeb region could be entering a prolonged period of attrition as coalition forces seek to degrade the Houthi's military capability with both sides considering a tactical shift in operations, with failure of western military to prevent attacks. Security firm Dryad Global reported this week that attacks on commercial vessels have reduced, while strikes against c
Antwerp Euroterminal launches Belgium's first shore power connection for seagoing vessels Antwerp Euroterminal (AET) is set to introduce Belgium's first shore power connection for seagoing vessels. This innovative installation, operational by 2026, will provide docked ships with environmentally friendly and quiet electricity, significantly contributing to the port's sustainability efforts. Built to international ISO standards, this will be Belgium's premier shore power setup for seago
Copenhagen Malmö Port receives straddle carriers from Konecranes Konecranes officially delivered eight hybrid Konecranes Noell Straddle Carriers to Copenhagen Malmö Port (CMP). Ordered in the second quarter of 2023, these straddle carriers are designated for the new container terminal in Copenhagen. The parts were delivered to CMP in the fourth quarter of last year and have since been assembled and rigorously tested at the current container terminal. Next year
Sidara sends final Wood takeover offer worth $2bn UK consulting and engineering firm Wood has received a fourth and final bid from Dubai-based company Sidara for the takeover of the company. Less than a week ago, the UK firm rejected Sidara's third bid as the offer was seen as 'significantly' undervaluing the company. The unsolicited, preliminary, and conditional proposal from Dar Al-Handasah Consultants ...
US offshore wind port developer gets $50m boost Zero-emission infrastructure investor Homecoming Capital has made an initial $50m commitment to US offshore wind port infrastructure development firm Clean Energy Terminals (CET). CET will use Homecoming's investment to execute early-stage development work on a portfolio of newbuild and redeveloped offshore wind ports along the US east and west coasts. Upon completion, the projects will ...
Prosafe gets work in Australia for Safe Boreas Oslo-listed semisub accommodation vessel owner Prosafe has been issued a conditional letter of intent for Safe Boreas to provide gangway-connected operations to support a project off the coast of Western Australia. The firm duration of the contract is 15 months with up to six months of options. Work for the vessel will be firm upon ...
China Merchants in boxship and roro spinoff move with Antong Holdings A major reshuffling of China's top shipping brands is underway, with China Merchants moving to sell its container and roro businesses in order to focus on dry bulk, gas and tanker segments. China Merchants Energy Shipping (CMES) has revealed plans to spin off Sinotrans Container Lines and China Merchants RoRo Transportation (Guangzhou RoRo) in a ...
PGS ready to kick off long-overdue 4D survey for Petrobras Norwegian seismic player PGS has received the 'all-clear' to start a large 4D survey over the Barracuda Caratinga fields in the Campos basin offshore Brazil for Petrobras. The initial deal for the project was given back in December 2022 and the start of the project was set for the summer of last year while the ...
COSCO spends $114m upgrading four boxship newbuilds to methanol power China's largest shipowner's embrace of methanol as a future fuel is deepening. COSCO Shipping has announced four 16,180 teu ships it contracted a sister firm to build will now be converted so that they are methanol duel-fuel vessels. The upgrade is costing the state-owned shipping giant an extra $114m. The vessels were originally contracted with ...
Dolphin Drilling to sell another rig for scrap Semisub rig owner Dolphin Drilling has decided to sell a second drilling rig for scrap in the space of a few months. Namely, the company sold its Bideford Dolphin semisub for $4.1m to a Turkish yard in March this year. The rig was built in 1975 by Aker Kvaerner in Verdal and the sale was ...
Another record year of crew abandonments on the cards New cases of crew abandonment look set to smash annual records once again this year with international regulators at a loss on how to tackle one of shipping's darkest scourges. Under international law - the Maritime Labour Convention, 2006, as amended - seafarers should be paid at least once per month. Crews owed two months ...
Precious orders four ultramaxes at Taizhou Sanfu Thai shipowner Precious Shipping has returned to Taizhou Sanfu Ship Engineering in China for four 63,500 dwt ultramax bulk carriers, which will deliver in 2026 and 2027. These contracts represent the third series of ships that Khalid Hashim-led Precious has built at Sanfu. No prices have been revealed for the series. Recent ultramax newbuild deals ...
CMA CGM pays $1.975m fine in the US The Federal Maritime Commission has entered into compromise agreements with three different companies resulting in the collection of more than $2.3min civil penalty payments, and commitments by each company to reform specific business practices. French liner CMA CGM copped the biggest fine, paying $1.975m to resolve allegations that it over-broadly defined and applied its definition ...
China's Maritime Safety Administration details vessel crackdown China's Maritime Safety Administration (MSA) has implemented a stricter monitoring of vessels, according to an update from class society DNV. Chinese authorities are tracking more closely any vessel that has been detained twice within the last 12 months, irrespective of the place of detention as well any vessel that has been penalised twice in 12 ...
Chinese to develop Black Sea port in Georgia Two Chinese firms have won the rights to build and operate a deepsea port on the Black Sea. China Communications Construction Company and China Harbour Investment will develop the long-planned port at Anaklia in Georgia. The initial phase of Anaklia port development involves constructing a berth capable of handling 7m tons of cargo and a ...
How to impress a shipowner? Shipmanagers need to up their game when it comes to their sales pitches. Splash canvasses opinion on how best to get the right message across to principles. On paper, the pitch to owners ought to be a simple one. "We can save you money and time," is the line invariably trotted out by myriad managers ...
Greek fleet invests 'heavily' in new technology vessels, says Travlos Greece-owned fleet is first for alternative-fuel ships and well ahead on fitting of energy-saving devices, claims annual report
Exclusive: Countries plan informal MEPC talks in Bonn China, Brazil and some EU members said to be among group to meet on sidelines of UN climate conference in...
Tanker giant Frontline: 'We're in for a longer one' in current upcycle Frontline's purchase of 24 VLCCs from Euronav is paying off as the transformative fleet growth coincides with a period of...
Steamship Mutual joins trend toward improved P&I results Shipowners' Club will take the hit on 2021 policy year underwriting loss
China outlines tougher safety inspections for repeat offenders DNV said ships matching the new criteria for the 'special follow-up scheme' will face detailed inspections at any port of...
Disruptions continue to drive tanker demand Geopolitical disruptions account for the bulk of growth in 2024, but this could reverse if trading patterns return to normal...
CMA CGM to pay nearly $2m in penalties in the US Two other companies have also agreed to pay penalties to avoid formal proceedings, just days after the Federal Maritime Commission's...
Cosco Shipping Holding appoints Tao Weidong as new general manager Tao's predecessor, Yang Zhijian, has resigned due to 'a change in work arrangement'
Adnoc lines up multi-billion dollar LNG carrier orders at South Korean yards Orders come as Adnoc vows massive investments to double its LNG output to 15m tonnes annually by 2028
Daily Briefing Insurers update Lloyd's Open Form to arrest dwindling use, cut costs | Merged NorthStandard performance 'surpasses expectations' | Asian shipowners...
Cosco Shipping pushes deeper into methanol with newbuild retrofits Conversion will increase CSH's methanol dual-fuel orderbook to 16 vessels, including 12 24,000 teu ships ordered in October 2022. The...
CBP curtails low-value shipment access for multiple customs brokers Growth in the use of a low-value shipment rule has attracted critics, who say the de minimis program provides a loophole for e-commerce companies abroad to evade duties.
Auto shippers tuned up to navigate new supply chain roadblocks The March collapse of the Francis Scott Key Bridge in Baltimore piled on yet another layer of disruption, while the Sept. 30 expiration of the existing labor contract for longshore workers on the East and Gulf coasts will make shippers more nervous.
Busy 'slow season' for air cargo as e-commerce holds up demand It is a good time to be in the freight transport business with air cargo and ocean shipping on the trade lanes out of Asia seeing sustained demand and robust rate levels.
Asia-US container ship reliability climbed to six-month high in April: Sea-Intelligence The West Coast's sharp jump in on-time performance - the highest gain of the 34 trade lanes covered by the analyst's monthly report -- is a sign ports along the coast have not been directly impacted by the ongoing ship diversions around southern Africa.
Germany's largest shipbroker formed as MPC Capital merges Harper Petersen and Albis Shipping Hamburg-parent is merging its container, tanker and dry shipbroking desks
'We have a problem': 1,300 new tankers needed in next decade, Frontline boss says Lars Barstad believes the sector is heading into a 'wall' of replacement needs as tankers age
$1bn club: Select group of Greek shipowners have broken with tradition to establish a home on Wall Street This week's Streetwise takes a look at the history of Greeks turning to capital markets in New York
Niche container player returns to Asia-Europe trade after exiting as Covid boom imploded Relative newcomer to re-enter trade as freight rates soar
Cambridge University experts to study 'real impacts' of green fuels on Laskaridis bulker UK university's Singapore research centre is being provided with data from panamax
Greek newbuilding activity skyrockets with world-leading $40bn wager on new tonnage Hellenic shipowners are betting the transition towards green shipping will be a gradual affair
Russian crude cargo stuck on elderly tanker for months off new Ghana refinery Hong Kong-owned Snow Lotus arrived at the new Sentuo refinery in February
Fratelli Cosulich heralds first methanol bunkering vessel as investment 'milestone' New vessel swells Italian owner's bunker fleet in Singapore
Evangelos Marinakis lines up 10-ship container splash in China Order for 8,000-teu vessels depends on the new dry dock that New Times Shipbuilding plans to construct
Tanker division shines as MISC profit climbs by nearly one-quarter Company believes outlook for shipping divisions remains rosy despite sharp drop in cash flow
'Supermajor': Subsea7 lands Petrobras offshore deal worth more than $1.25bn Kristian Siem-backed group secures huge contract to develop Buzios 9 oilfield 180 km off Brazil
Hunter Group talks up 'arguably the best VLCC supply outlook ever' Growing production will tie up extra 105 VLCC-equivalents through 2025, Norwegian company says
Sports psychologist 'supercharged' top team at NorthStandard after merger Executive coach helped two CEOs work better in merged protection and indemnity giant
'No end to conflict in sight': Red Sea disruptions driving lion's share of tanker demand, Bimco says Crude and product tankers will reportedly see market weaken next year if the Red Sea situation normalises
'Super-major': Subsea7 lands Petrobras offshore deal worth more than $1.25bn Kristian Siem-backed group secures huge contract to develop Buzios 9 field 180km off Brazil
Vitol to pull its ships from BW LPG VLGC pool in the summer Trader's vessels will exit world's biggest commercial VLGC operation
BW LPG revenue tops $1bn as it books 'impressive' results Singapore VLGC owner expecting strong spot rates for the rest of 2024
Maersk Tankers recruits head of Norden Tanker Pools Ex-Norden man is diving from one pool to another
Frontline banks near $1bn loan package to finance Euronav VLCC deal and product tankers John Fredriksen company reveals details of transactions in Norway, Germany and China
Historic Greek shipowner Carras (Hellas) seeks to strike 'right balance' between present and future needs Low-profile owner reveals the rationale behind newbuilding programme of conventionally fuelled bulkers
Fortescue prowling shipyards for ammonia carriers and bulkers in $900m newbuilding hunt Australian ammonia-fuelling fan scours yards for 10 vessels as it transforms into green energy supplier
Frontline profit falls as Euronav VLCCs make slow start and push up finance costs John Fredriksen's tanker company is earning better rates in the second quarter
Cosco adds methanol dual-fuel capability to four neo-panamax container ship newbuildings Upgrading project will cost the shipowner an additional $114m
Yinson Production taps London for $1bn bond issuance Company says the fundraiser is another step in its bid to diversify its funding base and optimise its capital structure
Asian feeder players double surcharges as Singapore labelled congestion hotspot Vessels calling at the world's second-largest container port face berthing delays of up to seven days
Greek shipping cautious on future fuels amid questions over rewards for early movers Shipowners are cautious on betting big with future fuels
Knowledge gap: Green fuels to create need to train 700,000 seafarers, consultant estimates Founder of Novamaxis highlights knowledge gap among crew tasked with implementing energy transition
Northern Air Cargo to discharge 18 pilots on Hawaii route The end of Aloha Air Cargo's service from the West Coast to Hawaii will result in unpaid leaves of absence for 18 pilots.
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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