Kongsberg wins contract for two new UT7623 SEV design vessels Kongsberg Maritime has signed at contract for the design of two UT7623 SEV design multipurpose subsea vessels for Fosnavåg, Norway-headquartered Olympic Group. The "SEV" in the designation stands for "Sustainable Energy Vessel"
Container Market Weekly Performance: Trends, Gains, and Losses Container market performance this week reflects the ongoing volatility in global trade, with shipping companies experiencing a mix of gains and losses. While some carriers managed to post positive returns, others struggled with sharp declines, impacted by fluctuating demand, geopolitical factors and external economic pressures . The latest data provides a comprehensive view of how major players n
Axpo expands into LNG bunkering in Spain with first MSC delivery Axpo has completed its first LNG delivery to MSC, one of the global leaders in shipping and logistics, at the port of Málaga. This marks Axpo's first LNG bunkering operation in Spain using its chartered small-scale LNG vessel, reflecting the increasing demand for LNG as a cleaner and more cost-efficient alternative to traditional maritime fuels. In this initial delivery, Axpo supplied approximate
CMA CGM Iron: First dual-fuel methanol vessel to visit Khalifa Port The CMA CGM Iron made a historic visit to CMA Terminals Khalifa Port, becoming the first dual-fuel methanol container vessel to call at Abu Dhabi. This milestone marks a significant step in the strengthened partnership between AD Ports Group and CMA CGM Group, advancing their shared goal of maritime decarbonization. The CMA CGM Iron, built by Hyundai Samho Heavy Industries in Korea, is a dual-fue
Global container volumes strong in January 2025 Global container volumes remained strong in January 2025, reaching 15.4 million TEUs, a 5.8% year-over-year (Y/Y) increase, according to Container Trade Statistics (CTS). Data from CTS shows that global TEU*Miles - adjusted for nautical distance - grew by 8.1% Y/Y in January, indicating higher vessel capacity utilization. Additionally, head-haul container trades showed a robust 12.9% Y/Y growth i
Port of Long Beach moves over 760,000 TEUs in February Trade through the Port of Long Beach continued its upward trend for the ninth consecutive month in February, driven by retailers accelerating shipments ahead of expected tariffs on certain imported goods and materials. Dockworkers and terminal operators at the Californian port handled 765,385 TEUs during the second month of the year, marking a 13.4% increase compared to February 2024. Imports gre
Port of Gdansk handles over 77 million tons, nears US$70 million in profit Port of Gdansk, Poland's largest seaport, has experienced steady growth in recent years and reported a strong performance in 2024. The port handled 3,559 commercial seagoing vessels and processed 77.4 million tons of cargo, achieving a record estimated net profit of approximately US$68.6 million. Significant growth was recorded across multiple cargo categories. Liquid fuel handling increased by o
Kalmar unveils third-gen electric terminal tractor in North America Kalmar officially launched the Kalmar Ottawa Electric Terminal Tractor (OT2 EV) sales at the Technology & Maintenance Council's 2025 Annual Meeting & Transportation Technology Exhibition in Nashville, Tennessee, US. As Kalmar Ottawa's third-generation electric terminal tractor, the OT2 EV is fully designed and manufactured in-house at Kalmar's Ottawa, Kansas facility. The lineup includes four mod
Triton acquires GCI in a deal exceeding US$1 billion US container leasing company Triton International will buy its compatriot competitor Global Container International (GCI), according to a report by DynaLiners. The transaction, including outstanding debt, is expected to exceed US$1 billion. GCI, founded by container leasing veterans and an investment vehicle managed by Wafra, operates a fleet of approximately 500,000 TEUs, which will be added to
Best Ways to Clean and Refresh Your Outdoor Cushions Ever unbox brand-new outdoor furniture only to find the cushions have light mildew or a musty odor? It didn't start that way, but the journey from factory to backyard tells the story. Before reaching a retailer or customer, the manufacturer packages outdoor furniture pieces and accessories at their facility before loading them onto the trucks and transporting them to a warehouse for storage. From
New Chinese-built cranes to enhance operations at Nhava Sheva Freeport Container Terminal India's Nhava Sheva Freeport Container Terminal, a joint venture of CMA Terminals and J.M. Baxi, in which Hapag-Lloyd is a 40% shareholder, has received two new ship-to-shore gantry cranes from Chinese port equipment manufacturer HHMC. The new cranes have an outreach of 62 metres (22 containers), while three additional machines are already in the pipeline. The new equipment is part of an upgrade
Geopolitics, tariffs and war result in rates bloodbath A rates bloodbath is shaping up as fundamentals in supply and demand finally overwhelm the black swan events that have seen shipping lines bank hundreds of billions in profits since 2020. According to Xeneta chief analyst Peter Sand, freight rates have declined by 50-70% since last July and the rate of decline has significantly accelerated in February
Global container trade grows in January In January, seaborne container trade saw a 5.8% year-on-year increase, according to Container Trades Statistics. Overall, trade lane performance was positive, with 32 routes recording growth and 17 experiencing declines. The only major trade lanes that saw a downturn were exports to North America (-7.6%) and sub-Saharan Africa (-1.1%). Source: DynaLiners On the other hand, the strongest growth wa
Evergreen's financial figures skyrocket in 2024 Taiwan's major shipping company Evergreen Marine Corporation announced improved financial results during 2024. In particular, the ocean carrier reported revenue of TWD 463.6 billion (US$16.2 billion), translating to an 80% increase compared to the previous year, according to the latest DynaLiners report. Additionally, Evergreen recorded operating profit of KRW 125.5 billion (US$5.6 billion), tran
SITC revamps intra-Far East coverage Hong Kong-based shipping line SITC has announced the revision of its Japan/China-Philippines network. SITC decided to add the new CPX4 service and change the existing CPX1, CPX6 and CPX7 services, according to Alphaliner report. The new and revised rotations will be as follows: CPX1: Dalian, Tianjin, Qingdao, Shanghai, Wenzhou, Manila, Batangas, Davao, Cagayan de Oro, Shanghai and back to Dalian
MSC shortens intra-Far East service Swiss/Italian ocean carrier MSC has decided to drop Tanjung Pelepas, Subic Bay, Manila and Shanghai from its intra-Far East Origami service, according to DynaLiners. Additionally, MSC has removed a container vessel from the fleet deployed on the service port rotation, which is now operated by five boxships of approximately 4,000 TEUs. The updated port rotation is Tokyo (Japan), Yokohama (Japan),
Australian competition body raises concerns over DP World's Silk Logistics acquisition The Australian Competition and Consumer Commission (ACCC) has outlined preliminary concerns about DP World Australia's proposed acquisition of Silk Logistics. DP World Australia operates container stevedores at the Ports of Botany (Sydney), Melbourne, Brisbane and Fremantle and, on average, handles approximately a third of the containers processed at these ports. Silk Logistics is one of the onl
Chinese owners and yards come out fighting in US trade dispute Both the China Shipowners' Association (CSA) and the China Association of the National Shipbuilding Industry (CANSI) have left public comments criticising the US Trade Representative's proposals to charge extra for fleets with Chinese-built tonnage calling at American ports, arguably the biggest shock policy to potentially hit shipping in the opening months of the return of ...
Floatel International firms up vessel deal in Australia Offshore accommodation vessel specialist Floatel International has secured work for one of its units. The Oslo-based owner and operator of semisub flotels has fixed the 2016-built Floatel Triumph to a client in Western Australia, following a letter of intent announced earlier. The contract will start in the fourth quarter of this year and last between ...
Gulf Navigation set to close Brooge Energy deal Dubai shipping firm Gulf Navigation (GulfNav) has been given the go-ahead by its shareholders to acquire the assets held by crude storage provider Brooge Energy. The takeover plan, announced in October 2023, covers $125m in cash payment, the issuance of about 359m new shares to Brooge worth $122m, and $626m in mandatory convertible bonds (MCBs). ...
Capesize tonne-mile uptick seen as Africa outmuscles Australia for iron ore Iron ore exports out of Africa are set to be one of the great growth drivers of global seaborne trades for the rest of the 2020s, new research from broker SSY shows. Guinea's Simandou mine alone is set to deliver 60m tonnes of iron ore in its first full year, with production, due to start ...
Major stakeholders propose new Dolphin Drilling chairman Dolphin Drilling shareholders, Svelland Capital and B.O. Steen Shipping, have proposed a new chairman of the board following the two increasing their stakes in the company. Svelland Capital and B.O. Steen Shipping increased their respective shareholdings in Dolphin Drilling to 34% and 10% last week. On Thursday, the two proposed Ronny Bjørnådal as the new ...
SBM Offshore and Microsoft developing AI-driven floating power solutions Dutch floater expert SBM Offshore has entered into a global collaboration agreement with US technology conglomerate Microsoft to develop standardized, AI-powered carbon-free floating power solutions. The collaboration aims to accelerate the adoption of floating power generation units to meet the growing demand for clean, reliable, and dispatchable electricity for electrification and regional grid
US sanctions tanker headed for demolition Donald Trump's so-called 'maximum pressure' campaign against Iran has stepped up a gear with the latest targeted sanctions announced in Washington DC yesterday including a ship waiting to be scrapped off Bangladesh as well as tug boats that have serviced Iranian-linked vessels in the past. The Department of the Treasury's Office of Foreign Assets Control ...
Maritime CEO Annual Outlook 2025 What will the shipping markets look like in the coming 12 months? Maritime CEO's global network of correspondents delve into the individual sectors to bring readers a unique outlook covering everything you will need to know to make informed decisions. As well as markets coverage, this title also covers pressing regulatory issues and likely tech ...
Geopolitical tensions at Panama Canal still very high despite sale of ports Shipping could face a major disruption if Trump is not bluffing about taking back the Panama Canal. Hopes that the...
IMO green rules possible without Trump's America What happens if Trump turns his anti-green wrecking ball on the global shipping regulator?
IMO risks falling into same trap as EU on green policy, Vitol exec says Vitol head of shipping energy transition Ian Butler said incoming IMO rules must avoid falling into the same policy trap...
Kikilias takes over Greek shipping brief New minister takes the place of Christos Stylianides
Australian competition watchdog raises concerns over DP World Silk Logistics' takeover The Australian Competition and Consumer Commission outlined "preliminary competition concerns" with the deal and is now inviting submissions from interested...
Salvors board stricken vessels involved in UK collision Stena Immaculate remains at anchor, while containership Solong is being held in a safe position by a tug, UK Coastguard...
The Art of the Deal is striving for win-win. Extortionate port fees would be lose-lose The industry is utterly dependent on China-built tonnage and nothing is going to change that overnight
Chinese iron ore demand to prop up bulk market in 2025 With seaborne coal trade expected to decline in 2025 and grain's performance very much in the balance, iron ore's status...
Beijing casts shadow over CK Hutchison's blockbuster port sale as national interest concerns raised Beijing's representative office in Hong Kong has amplified criticism of CK Hutchison's $22.8bn port asset sale to a BlackRock-led consortium...
Boxship orderbook keeps growing but US-China trade tensions provide cancellations risk Containership newbuilding orderbook has reached some 30% of existing fleet service capacity
The Daily View: Maximum pressure is just getting started ContainersDry BulkPorts and Logistics
Daily Briefing Ofac targets 'shadow fleet' tankers, STS operators, and Iran's oil minister in latest sanctions | Over half of LPG cargoes...
FMC probes ocean chokepoints as Trump looks to rule the waves The Federal Maritime Commission is looking at areas where ships are having transit troubles with an eye on how US maritime influence can fix those problems.
Beijing issues warning over Hutchison's proposed sale of Panama Ports Company A commentary published in a Hong Kong state-backed newspaper said the acquisition of Hutchison's Panama assets by BlackRock and TiL would "Americanize" the canal and cause Washington to restrict Chinese access to the waterway.
EPCs paint bleak picture for MPV sector under US port fee plan Engineering, procurement and construction companies are in a tailspin about the possible withdrawal of suitable ships for project cargoes if the US government's port call proposal linked to Chinese tonnage is implemented.
Fine-Grained Permissions for AI Applications Introducing a new Four-Perimeter Framework for AI Access Control. Read the announcement.
Tariffs, falling spot market weaken contract resolve of trans-Pac carriers Fresh questions about the direction of the US economy after the tariff chaos unleashed by the Trump administration in recent weeks has container lines resetting their rate expectations for the 2025-26 service year.
Escalating tariff costs are 'massive' financial shift for US importers: experts The dizzying pace of the Trump administration's moves against longtime US trading partners is putting shippers at risk of facing hefty new costs as a result of tariff "stacking."
Indian tanker trips on the rise to Europe via Suez as insurance costs halve Tentative return to Red Sea noted by UK shipbroker Braemar
Salvage experts board fire-hit Stena tanker at centre of North Sea disaster Flames have been put out on the Stena Immaculate that was carrying jet fuel for the US military
Seaborne coal imports from Asia drop to three-year low on weaker steel output Capesize and panamax demand may benefit from Indian steel production rebound
Trump's Chinese ship charges will slap $5.7bn bill on container feeder operators Top 20 regional and feeder operators would be hit by increased cost and disrupted charter market
Wavelength podcast: What really happened on board the ships that collided in the North Sea? Plus, the liability behind the disaster, US plans to put fees on Chinese ships, and changing the guard at CTM
Hutchison shares dive after claims Panama Canal sale 'betrays all Chinese people' Conglomerate urged to 'think twice' about $22.8bn divestment
To sell or not to sell: DIS boss awaits US clarity on his Chinese newbuildings Carlos Balestra di Mottola explains how four LR1s ordered in China could prove costly for owner's South Korean and Japanese ships
Nordic American Tankers snaps up suezmax and strikes double leaseback deal with Ocean Yield Herbjorn Hansson says further S&P dealings are likely for New York-listed tanker owner
2020 Bulkers strikes rare freight hedging deal for newcastlemax bulker as market rises Analysts praised the transaction at a tasty premium to prevailing futures market
Chaos for shipping in Washington after Trump hit the ground with a vengeance Lawyers and lobbyists who help shipping navigate Washington are busier than ever
Italian FSRU set to operate through into end-2044 following life extension work Shipyard spell in 2024 added 20 years to floating regas facility off Livorno
Chandris VLCC sold as it departs UK storage role Veteran Greek tanker filmed leaving Loch Long in Scotland
Crude cannibals quit product tanker trades, offering relief for owners and investors Second-half trend shows VLCCs and suezmaxes can clean up if market conditions make sense
Chandris VLCC sold as it departs UK storage role after six year wait Veteran Greek tanker filmed leaving Loch Long in Scotland
Greek shipowners Eastmed and Tsakos hiving off smaller container vessels Feeder boxships still command strong prices in niche markets
Shell and Brevik win DNV approval in principle for large liquefied CO2 carrier Major describes new low-pressure design targeted at Asia-Pacific region as 'tender-ready'
Container ship owner MTT Shipping plots $200m IPO in Malaysia Plan is said to have been resurrected after pandemic ended previous $56m scheme
John Michael Radziwill is looking at new investments for C Transport Maritime Former CEO will remain as chairman to focus on the private side of the company and its overall strategy
Greece appoints former basketball professional and pandemic health minister as its new shipping czar Career politician Vassilis Kikilias replaces Cypriot-born outsider who may launch presidential bid at home
Al Seer fixes final MR tanker newbuildings to HMM and Global Horizon Abu Dhabi owner finances ships five and six in series through Chinese leasing
US approves huge loan for frozen TotalEnergies Mozambique LNG project But security issues still threaten long-delayed project for which 17 newbuilding berths hang in balance
Dutch seafarers admit role in Singapore's worst oil spill for a decade Four crew members from dredger are on trial over collision with bunker tanker last year
VLGC spot rates jump nearly 20% as tonnage list thins out in the Atlantic Analysts note arbitrage window open from West to East
How predictive AI is reshaping ship management and crew oversight Predictive intelligence to enhance safety and trim costs, say experts
Ransomware payments plunge after cyber attacks on shipping New report welcomes promising trend but highlights key vulnerabilities in the sector
Golden Ocean 'less appealing' after CMB.Tech deal as DNB sees dividend disappearing Analyst Jorgen Lian says strategic uncertainty will weigh on stock valuation
Gulf Navigation gains shareholder approval to buy Brooge Energy in $900m deal GulfNav will pay up to $126m in cash, issue new shares and mandatory convertible bonds worth up to AED 3.3bn
Shipowner petitions Indian court to arrest five anchor-handlers after a fleet takeover deal falls apart Offshore operator suing an Indian sector compatriot for $49.3m
Ship buys 'on the horizon' for Pyxis Tankers after fall in values, CEO says Valentios Valentis foresees compelling opportunities to expand the tanker and bulker fleet
Global crises behind two biggest hull claims in record year for Norwegian insurer Norwegian Hull Club reports best-ever results despite impact of US-Iran tensions and Houthi attacks
MPC Container Ships targets $75m tap bond issue for buying vessels and refinancing of debt Fixed-income investor meetings start on Monday
Greek shipbroker Cass Technava holds glamorous party to celebrate 'exceptional milestones' and deal flow Past two years proved remarkably successful for Greek-Asian newbuilding and S&P shop
US sanctions giant tanker heading for recycling beach, sending shockwaves through sector Market players say VLCC's sudden sanctioning is scaring off recyclers eyeing up dark fleet scrap candidates
Gulf Navigation gains shareholder approval to buy Brooge Energy in deal worth more than $1bn GulfNav will pay up to $126m in cash, issue new shares and mandatory convertible bonds worth up to AED 3.3bn
Alphard Maritime arrests anchor handler over alleged multi-ship sales deal gone wrong Offshore operator suing an Indian sector compatriot for $49.3m
Unfashionable epoxy chemical tanker fleet ageing fast, broker SSY says Sector looks set for shortfall, with few newbuildings on order
DP World sees record revenue, but profit slips Container terminal operator DP World reported record revenue in 2024 but weaker overall profit.
Amid ocean container liner gains, Zim earnings shine Operational expansions and a strategic move to leverage earnings against the trans-Pacific spot market helped Zim to massive profits in 2024.
OOCL sees strong 2024 results despite ocean shipping challenges The parent of Orient Overseas Container Line said 2024 earnings grew on higher revenue from supply chain disruptions that pushed up ocean rates.
Arrival of world's largest car carrier marks Texas port's gateway strategy The arrival of the Höegh Aurora, the world's largest car carrier, marked a new era for Port Freeport, Texas.
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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