ST Engineering opts for Kongsberg design for new walk-to-work OSV Kongsberg Maritime is to supply the design and integrated equipment package for a new walk-to-work offshore service vessel (OSV), to be built by ST Engineering Marine in Singapore for an undisclosed leading
Japan Marine United and BMT win contract for Japan's next-gen landing craft Japan Marine United (JMU) and BMT report that they have been contracted by Japan's Acquisition, Technology & Logistics Agency (ATLA) to design and build the next-generation high speed landing craft, the Caimen
Op-Ed: How the SHIPS for America Act can restore U.S. maritime leadership By Sen. Mark Kelly (D-Ariz.) Flanked by two oceans, the United States has always been a maritime nation. Our dominance over the oceans was a key factor in establishing the U.S. as
MOL, KEPCO ink MoU for joint carbon credit initiative Mitsui O.S.K. Lines, Ltd. (MOL) and Kansai Electric Power Company (KEPCO) disclosed their agreement, signing a memorandum of understanding (MoU), to explore collaborative opportunities in a carbon removal credit project. Under the terms of the MoU, MOL and KEPCO will undertake research across Africa, Southeast Asia, and other regions to evaluate the viability and economic implications of projects
Middle East Ports: Strategic Hubs Amid Growth, Innovation, and Geopolitical Shifts Middle East's container ports play a pivotal role in global maritime trade, leveraging their strategic locations along vital shipping lanes connecting Asia, Europe, and Africa. This analysis aims to provide an operational overview of the latest performance of the major ports, infrastructure, and developments, standing in a region increasingly defined by technological innovation, transshipment riv
AD Ports to explore investment opportunities in Pakistan UAE-based port and terminal operator AD Ports Group formalized a Memorandum of Understanding (MoU) with the Pakistan Board of Investment in Karachi. This agreement aims to investigate the potential development of an industrial zone adjacent to Karachi Port and Port Qasim, enhancing trade and economic activities in the region. In addition, the Group announced the signing of three other agreements,
Port of Klaipeda invests US$320 million in infrastructure upgrades Klaipeda Port Authority is firmly advancing its vision to transform the Lithuanian port into a pioneering center for port services, the maritime industry, and green energy. This vision is encapsulated in its ambitious development strategy, which commits to investing EUR 308 million (US$320 million) over the next four years into cutting-edge infrastructure, value creation in maritime businesses, a
Port of Barcelona awards US$75 million contract for new Catalunya wharf embankment The Port of Barcelona's Management Board awarded a €72,359,045.87 (around US$75.35 million) contract for constructing the embankment of the new Catalunya wharf to the joint venture of Sacyr Construcción, SA and José Antonio Romero Polo, SAU. The project, set to take 27 months, involves constructing a sea embankment as the initial phase for depositing materials dredged from the Spanish port docks,
Economic Pressures and Geopolitical Shifts Reshape Global Ship Recycling Operations Global ship recycling operations hit some of their lowest activity levels in nearly two decades, while undergoing notable shifts. In 2024, only 324 merchant ships were dismantled worldwide, totaling 4.6 million gross tonnes (GT)-the lowest volume since 2005 and a drop of more than 30% compared to 2023, which was already a subdued year. This content is locked Select a CN Premium Subscription Packa
OOCL Iris sets multiple records with landmark US East Coast port calls The 16,828 TEU container vessel OOCL Iris arrived at Maher Terminals on 11 February, marking a significant milestone for the Port of New York and New Jersey as the largest ship to call at the US port. The OOCL-operated mega boxship travelled from Asia on the 91-day roundtrip Transpacific ECX1 loop, which stops in Hong Kong, Yantian, Xiamen, and Shanghai before arriving in New York and then contin
US Tariffs on China-Built Boxships Poised to Disrupt Supply Chains and Exacerbate US Port Congestion Amid growing concerns from shipping analysts, the Trump Administration's proposed tariffs on China-built container ships are anticipated to significantly disrupt supply chains both in the United States and globally. According to Peter Sand, Chief Analyst at Xeneta, these fees could lead to fewer port calls by ocean carriers in the United States, potentially resulting in major congestion and delay
DP World Posorja joins Portchain Connect DP Word-operated Deep-Water port in Posorja has implemented Portchain Connect to simplify the berth alignment process with container lines. The Deep-Water Port in Posorja will use Portchain Connect aiming to increase the quality and speed of their berth alignment with customers through digital handshakes and secure data sharing. Portchain Connect is expected to enable Ecuador's major port to rece
Container traffic surges at port of Melbourne Port of Melbourne handled 289,000 TEUs in January 2025, achieving a 4% increase over the same month in the previous year. A breakdown of container volumes at a major Australian port shows mixed growth across categories. Full imports (excluding Bass Strait) edged up by 0.2% to 115,000 TEUs, while full exports (excluding Bass Strait) climbed 4.6% to 46,000 TEUs. Full Bass Strait volumes increased b
Mexico Grapples with Surge in Chinese Imports Amid Looming US Tariffs and USMCA Challenges In recent discussions, United States and Mexico officials are working diligently to address trade issues and avoid the implementation of new US tariffs. The urgency of these talks is underscored by the looming deadline and broader concerns involving trade regulations under the United States-Mexico-Canada Agreement (USMCA) trade pact. This content is locked Select a CN Premium Subscription Package
Amazon, IKEA and ZEMBA partners to speed up e-fuel adoption The Zero Emission Maritime Buyers Alliance (ZEMBA), an alliance that includes leading retailers like Amazon and IKEA, has opened bidding for its e-fuel tender, aimed at facilitating the first commercial use of e-fuels in maritime operations. Submissions for the tender will be accepted until spring 2025, with the initiative set to help over 40 member companies reduce around 500,000 metric tonnes o
COSCO names world's first ship-based marine factory for CO2 capture On 20 February, the world's first Floating Production Storage and Offloading (FPSO) unit equipped with offshore Carbon Capture and Storage (CCS) technology was named AGOGO FPSO at COSCO SHIPPING Heavy Industry in Shanghai. This vessel stands as one of the most environmentally friendly FPSOs globally, according to the Chinese company's statement. Transformed from a 320,000-dwt ultra-large crude oi
COSCO and Kansai Paint roll out "improved" zinc-coated containers China's state-owned COSCO shipping group and Japanese paint company Kansai Paint are producing zinc-coated containers in a pilot test of the anti-corrosion technology. Its joint venture with Kansai Paint, COSCO Kansai, has completed coating 700 20-foot containers with graphene zinc powder, more than a year after working with COSCO unit Shanghai Universal Logistics Equipment to explore applying gr
Drewry tests new year quotes as tariff impositions and GRIs spell the way forward The Drewry World Container Index (WCI) registered a 6% weekly fall (over 15% for the fortnight) recording US$2,629, its lowest since the 60% jump recorded to touch US$2,670 in its first quote of 2024. In essence, these are the lowest ever quotes recorded for the WCI in the post Red-Sea Disruption age. Most key trade lanes have indeed reverted to a 12-month low on prices, with the major share of s
Maersk signs deal to assess ship recycling opportunities in Egypt Danish container shipping giant Maersk has signed a Memorandum of Understanding (MoU) with the Holding Company for Maritime and Land Transport, an Egyptian state-owned entity under the Ministry of Transport. The agreement aims to bolster cooperation in responsible ship recycling (RSR) in accordance with international standards, fostering a sustainable environment while supporting the steel and sc
CMA CGM launches new Spain-Algeria direct service CMA CGM - Short Sea Lines Division has announced a new loop, ALGA 2, in its EURONAF services. The new weekly service aims to connect the Algerian market with two major Spanish ports, offering direct connections. In particular, ALGA 2 will connect Algeria's port of Alger with the ports of Valencia and Barcelona. The French ocean carrier, which will deploy two container ships on the new service, co
MSC revises Asia to North America West Coast service network Swiss/Italian ocean carrier MSC has decided to proceed with announced changes to its standalone network of its East/West services. In particular, the company will move the vessel fleet deployed on the Mustang service into the Pacific Northwest. "In response to the current market conditions for Transpacific trade, we have decided to deploy tonnage intended for our Mustang service to trades in othe
Frontline seals four-ship refinancing John Fredriksen's Frontline has secured a fresh refinancing deal for four of its vessels. The New York- and Oslo-listed tanker giant said it had entered into three senior secured credit facilities of $239m in total, which will refinance three VLCCs and one suezmax vessel and, in addition, provide revolving credit capacity in a total amount ...
Miclyn Express Offshore changes name to Aesen Singapore-based offshore vessel operator Miclyn Express Offshore (MEO) has officially changed its name to Aesen. Following the rebrand, the company will effect respective entity name changes progressively. Clients, vendors, and business partners will be notified as these changes take effect. All other company details remain unchanged. The OSV operator took inspiration for the name from ...
MOL and SMT link up on direct reduced iron shipping Japanese shipowner Mitsui OSK Lines (MOL) is joining forces with Cyprus-based dry bulk specialist SMT Shipping to jointly explore options for shipping direct reduced iron (DRI). Interest in DRI produced by reducing iron ore with natural gas or hydrogen is developing as the steel sector ramps up attempts to reduce CO2 emissions. MOL, which has ...
Salvors struggle to refloat MSC boxship off Newfoundland Thirteen days on from its grounding off Newfoundland, salvors are struggling to work out how to remove the MSC Baltic III from the icy, stormy shoreline near Lark Harbour. With reports emerging of a hull breach, and the ship carrying 1,710 tonnes of heavy fuel oil, local media is reporting the authorities are looking at ...
KNOT Offshore Partners in new vessel swap deal with parent Shuttle tanker player KNOT Offshore Partners has agreed a new swap dead with parent Knutsen NYK Offshore Tankers (KNOT) that will see the company add a modern suezmax in exchange for its nine years older panamax unit. The New York-listed firm is buying the 2021-built 152,800 dwt Live Knutsen from KNOT while selling its 2012-built ...
Geneva Dry Dialogues: Kpler As the week comes to an end there's signs that the dry bulk markets - led by capes - are picking up finally. Will this mini-revival be sustainable all the way through to the end of April when Geneva Dry, the global dry bulk summit, returns for its second edition? Alexis Ellender, the lead analyst ...
Cadeler's newbuild wins work on US offshore wind farm Copenhagen-headquartered offshore wind installation player Cadeler has signed a firm contract with an undisclosed client for one of its newbuild vessels for work at an offshore wind farm in the United States. This will be the first time Cadeler's second P-Class newbuild vessel, Wind Pace, will be deployed following its anticipated delivery. The work is ...
Maersk explores ship recycling in Egypt Maersk has signed a memorandum of understanding in Egypt to explore green ship recycling in the Middle Eastern nation as part of the government's bid to be less reliant on imported scrap metal. The planned demolition yard will be created at Damietta port to the west of Port Said on the Mediterranean and will be ...
Crewmember injured as robbers board chemical tanker in the Singapore Strait A crewmember has been injured by robbers who boarded the Singapore-flagged chemical tanker Basset this morning in the Singapore Strait, outside Singapore territorial waters The vessel has now anchored in Singapore waters and the Singapore Police Coast Guard and Singapore Civil Defence Force have been activated to render assistance with the injured crewmember medivacced. Splash ...
Karoon buys FPSO working offshore Brazil for $115m Australian oil and gas player Karoon Energy has bought the Cidade de Itajaí FPSO for $115m from Altera & Ocyan, the joint venture formed by the Brazilian company Ocyan and Altera Infrastructure. The FPSO was bought by Karoon's wholly-owned Brazilian subsidiary Karoon Petróleo & Gás. The deal also includes approximately $8m of transaction costs. The ...
Maritime diversity and inclusivity in the Trump era Claudia Paschkewitz, director of sustainability, diversity and inclusion at Columbia Group, writes about the impact Donald Trump's rulings on DEI will have on the maritime industry. US President Donald Trump's recent ruling against diversity and inclusivity measures is a step backwards in the progress that has been made around the world, and it could have ...
Why geopolitical chaos no longer causes tanker rates to skyrocket The global tanker market has grown in scale and has more transparency due to widespread vessel-tracking data, so it is...
Dark fleet safety fears not reflected in ship detention rates China's post-Covid tightening of inspections of ships on safety grounds has continued unabated, making it the most zealous detainer of...
CMA CGM reaps rewards of Red Sea routings but warns of tariff turbulence French liner shipping giant flags potential impact of US's higher tariffs, a factor that could prompt the 'reorganisation of global...
Transpacific spot rate slide raises concerns over US import demand The perennial question in shipping: How much are rate declines due to seasonality versus other factors? This is the current...
Policy year of two halves, P&I chief executives say Clubs discuss varied experiences of 2024/2025 online
US-sanctioned LPG shipper 'categorically' denies wrongdoing An LPG cargo discharged in Bangladesh last October stirred controversy because of its suspected Iranian origins, prompting a probe from...
Disjointed shipping sanctions guarantee failure in advance A coherent rulebook should not be too much for which to ask
Lauritzen Bulkers chief steps down citing stress Less than six months after taking on the role, former Integrity Bulk founder Martin Evgang leaves post at Danish dry...
Stricken MSC ship unable to be 'safely refloated' off Canadian coast The Canadian Coast Guard says salvage operation continues to be delayed by poor weather and sea conditions, as it seeks...
Columbia's O'Neil says post-pandemic crew recruitment disruption has eased Columbia Group chief executive Mark O'Neil says seafarers have now gained the attention they deserved
Norway's regulators target 'dark fleet' marine insurer Ro Marine for 'illegal activity' Order underscores increased scrutiny by regulators into fixed-premium providers operating outside the International Group of 12 P&I clubs seen providing...
Frontline reports weak fourth quarter, but sanctions are improving tanker outlook Soft tanker conditions dragged Frontline's fourth-quarter earnings lower, but the firm believes tighter sanctions could turn the market around in...
The Daily View: Difficult choices Your latest edition of Lloyd's List's Daily View - the essential briefing on the stories shaping shipping
Eastern Pacific taps Chinese leasing for LNG-powered boxship duo Deal strengthens EPS's partnership with Chinese financiers as it expands its fleet with a focus on sustainable shipping
Crew injured in Singapore Strait tanker boarding amid surge in armed robberies Authorities are assisting the vessel, while maritime officials urge heightened vigilance as armed robbery cases against ships in the Singapore...
Daily Briefing Shadow LPG fleet swells as Iran crackdown looms | Ports and terminals insurance enticing new entrants | Dry bulk market...
Red Sea, tariffs among 'decisive factors' for liner market in 2025: CMA CGM The French liner joined the ranks of its profitable peers, announcing Friday that its net profit rose 2% to $5.7 billion last year on an 18% rise in revenue to $55.5 billion.
HMM among carriers to offer rate, space deals to smaller South Korean exporters The measures are the latest in a series of support packages announced by South Korean trade organizations and government bodies to help the country's small and medium-sized exporters weather capacity restrictions and volatile freight rates.
US chassis manufacturers targeting makers in Mexico, Thailand and Vietnam Cheetah Chassis and Stoughton Trailers contend that the same trade practices that led to an influx of low-cost Chinese chassis are now occurring with imports from the other three nations, causing significant financial harm to US producers.
Trans-Pacific carriers reaching higher in early 2025-26 contract talks Container lines in the US' busiest trade lane, determined to avoid a repeat of last year when they believe they significantly underpriced their services, are seeking rate gains of 20% to 30% for the upcoming service year.
Numerous risk factors threatening to slow robust air cargo demand The sector is off to a strong start to the year, but tariff-driven trade tensions and other concerns could have a negative impact on the global air freight market, according to industry groups.
Next phase of digital forwarding on collision course with AI revolution Digital forwarders that emerged over the past decade are coming of age in the era of AI, but not all will make it to the other end.
Trump's tariffs lead CMA CGM to take 'prudent' stance on 2025 after adding $2bn in annual profits Liner giant sees $1.53bn in net income in fourth quarter alone
Ocean Yield taps Oslo bond market for another $35m Tap issue was initiated after inquiries from investors
Capesize spot rates rise to near three-month highs Market bolstered by continued activity out of Australia
Trump officials' jobs axe turns on NOAA, raising claim that it 'threatens maritime commerce' Commerce secretary Howard Lutnick previously cited National Weather Service for efficiency
Wavelength Podcast: Trump targets shipping, and this time its not with tariffs Plus, interest in nuclear grows and your round-up of shipping results season
Ocean Yield increases hybrid bond with $35m tap issue Tap was initiated after inquiries from investors
Frontline suezmaxes and LR2s exposed to US port fee hit, says Lars Barstad CEO admits keeping up with latest geopolitical announcements is 'exhausting'
Greeks pile into Russia trade as discounted crude flows to India and Turkey Vortexa analyst argues Russia has discounted its oil to keep it moving
Pacific Basin 2024 net profit soars 20% on higher fleet earnings CEO expects return of volatility to the dry bulk shipping market in 2025
Ultrabulk books 2024 profit while battling 'unpredictable volatility' Financial performance returned to normality last year but operating conditions were 'difficult to foresee'
Avance Gas poised to shut up shop after Exmar LPG deal completes Company to pay out remaining cash before liquidation
US port fees could reshape container shipping, says Euroseas CEO Aristides Pittas Greek owner warns that plan could fundamentally change the sector
One in five US-trading tankers face massive port fee hike in trade war, warns Braemar Broker has been crunching the numbers involved in proposal to penalise Chinese-connected tonnage
Ukraine drone attack damages bulker in Russian port Panama-flagged vessel said to have been hit during assault by Ukraine
Anti-LNG campaigners target Royal Caribbean in fresh 'greenwashing' campaign Greenwashing sponge 'Scrubby' is back in video aimed at drawing attention to companies' pronouncements on emissions
LNG Canada poised for start-up with cooldown cargo scheduled First export cargo date remains 'mid-2025'
One in five tankers face massive US port fee hike in trade war, warns Braemar Broker has been crunching the numbers involved in proposal to penalise Chinese-connected tonnage
Affinity (Shipping) promotes long-serving staffer as new research head Former incumbent moves on to a 'new challenge'
Regional Container Lines profit rises five-fold in booming freight market Big rise in earnings provides launch pad for fleet renewal
VLCCs set for boost as Trump threatens Chevron's Venezuela export deal Brokers and analysts expect disruption if US crude export licence torn up
Nordic American Tankers rolls on with fleet renewal as bottom line drops Norwegian owner expects geopolitics and orderbook to lift suezmax as it implores investors to look long term
Lauritzen Bulkers CEO Martin Egvang quits because of stress Executive only took the top job in September
Pacific Basin hires ex-Goldman Sachs man as new finance chief Executive previously worked for Hutchison Port Holdings
Is nuclear power the 'catalyst' to 'revive British shipping' UK companies urge government not to get left behind in push for nuclear-powered shipping
MOL and SMT Shipping eye bulker alliance to ship greener direct reduced iron Japanese and Cypriot owners to study specialised trade in steelmaking feedstock
Seacon and SeaKapital to lend $50m to joint venture Continental Kapital Both companies will also provide guarantees of up to $230m each
Thoresen Thai supramaxes outperform market by 12% Thai shipowner says its offshore division's performance was also 'outstanding'
Angelicoussis Group clearing $380m of bond debt at shuttle tanker subsidiary Greek owner moving to shore up finances of former Altera Shuttle Tankers after January takeover
Analysts maintain 'buy' rating for Frontline as tanker major reports weak earnings and outlook Fearnley Securities keeps 'bullish view' on rates
'Aligning interests': BW LPG bosses pocket share options worth $7.5m Top managers including Kristian Sorensen and Samantha Xu receive performance incentives
Greek ferry masters slapped with prison sentences over Piraeus passenger death Ferry crew pushed man in Piraeus gangway scuffle in 2023
Shipping bonds too 'dangerous' for $480m high-yield fund manager Borea fund holds SFL and Ocean Yield bonds
MSC boxship with dangerous cargo cannot be safely refloated, coastguard says Fate is uncertain for container vessel stuck off Canada with hull breaches
Ocean Yield closes tanker financing as Nordic American Tankers exercises buy options Leasing player's revenue and profit up for full year 2024
MSC boxship with dangerous cargo cannot be safely refloated, Coast Guard says Future uncertain for container vessel stuck off Canada with hull breaches
Offen tanker delivers first-ever Medanito crude to Asia as refiners turn from Russia Shipment to India comes as buyers shun sanctioned Russian-trading vessels
Frontline clears 2025 debt with $239m financing for three VLCCs and a suezmax Finance chief Inger Klemp says company now faces no loan maturities this year
KNOT Offshore boosts capacity in shuttle tanker swap with Knutsen and NYK-owned parent US-listed owner gets bigger ship with charter guaranteed until 2029
Shadow fleet still hurting Frontline in Asian trades as profit shrinks But CEO Lars Barstad more optimistic about 'constructive outlook' for compliant fleet as sanctions widen
Seacon and SeaKapital to lend $50m to their joint venture Continental Kapital Both companies will also put up guarantees of up to $230m each to the JV
Danish Ship Finance loan book drops to $3.8bn as it sees 'well-bolstered' clients to weather headwinds Lender expects shipping earnings to trend down in 2025
Waterfront Shipping opens Singapore office as it steps up global presence New outpost to provide logistics, technical, operations and commercial chartering services
Dubai-based bulker operator under scrutiny after arrest and 'disastrous' charter Mohit Sharma and the now Apex Bulk Marine criticised in series of circulars from angry counterparties
Seafarer injured in robbery attempt on tanker in the Singapore Strait Singapore's MPA says injured crew member on Grace Ocean chemical tanker has been medically evacuated
Offen tankers deliver first-ever Medanito crude to Asia as refiners turn from Russia Shipment to India comes as buyers shun sanctioned Russian-trading vessels
Postal Service to adjust delivery standards for network efficiency The U.S. Postal Service said it is moving ahead with a transportation streamlining initiative, which requires changing the frequency of truck connections between remote post offices and regional processing centers.
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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