NTSB reports on deadly engine room fire on Danaos containership Stride The National Transportation Safety Board has issued its report on a deadly engine room fire that broke out Jan. 8, 2024, when the Danaos-operated containership Stride was bunkering while docked at the
Pilot boat Fort Ripley returns to Gladding-Hearn for refit and repower The Charleston Branch Pilots have returned the pilot boat Fort Ripley to Gladding-Hearn for a refit and repower after 10 years of continuous service for the port of Charlestown. The all-aluminum vessel
Eidesvik, Agalas and Reach Subsea partner up to build new CSV Three Norwegian companies - Eidesvik Offshore , Reach Subsea and Agalas - have formed a strategic partnership to build a new construction support vessel (CSV) at the Sefine Shipyard in Turkey. The
Greece: Potential Pivotal Gateway in India's Ambitious Maritime Strategy Reuters reported that Miltiadis Varvitsiotis, CEO of Greece's Skaramangas Shipyards, announced the facility repaired 37 ships last year, with plans to double this figure in 2024
European Union prolongs Operation ASPIDES in the Red Sea The European Union (EU) has prolonged its maritime security mission in the Red Sea region until 28 February 2026, dedicating more than €17 million (US$18 million) to ensure safe passage in light of persistent regional conflicts
ABB secures record-setting order for permanent magnet shaft generator systems ABB has obtained contracts to supply its permanent magnet shaft generator technology to 18 and 12 liquified natural gas (LNG) carriers being built in China and South Korea, respectively, with deliveries scheduled between 2028 and 2030. This technology enhances operational efficiency by harnessing power directly from the main engine, improving fuel economy over systems relying on auxiliary engines
Global bunker indices on moderate decline During the eighth week of the year, the Marine Bunker Exchange (MABUX) indices experienced a moderate decrease. The 380 HSFO index declined by US$5.60 to US$522.46/MT, the VLSFO index fell by US$3.43 to US$615.46/MT, and the MGO index also saw a reduction of US$4.70 to US$803.55/MT. "As of the time of writing, no sustainable trends were observed in the global bunker market," stated a MABUX offici
China's first 16,000 TEU methanol dual-fuel ship sets green benchmark On the morning of 18 February, China's first 16,000 TEU methanol dual-fuel container ship COSCO SHIPPING Yangpu was officially named in Yangzhou. This milestone marks a significant step forward for COSCO SHIPPING in the development of green, low-carbon strategic industries and the advancement of its new energy fuel fleet. The occasion also coincides with the ninth anniversary of COSCO SHIPPING's
Asia-Europe trade faces sharp decline in demand after Red Sea crisis When the Red Sea crisis broke out and vessels started rerouting around Africa, the Asia-Europe supply chain became 7-14 days longer, depending on port-pair configurations. As supply chains lengthen, shippers typically increase their inventories to account for the longer transit times, effectively treating the cargo on the ships as inventory. In 2024, demand on the Asia-Europe route grew by 8.5%.
PIL names third 14,000 TEU LNG dual-fuel vessel Pacific International Lines (PIL) has taken delivery of its third 14,000 TEU LNG dual-fuel container vessel, named Kota Ebony. The naming ceremony was held at Jiangnan Shipyard in Shanghai, with Giselle Kastrup, wife of PIL CEO Lars Kastrup, officiating the event. Part of a series of 14,000 TEU vessels, Kota Ebony boasts an optimized hull design and substantial reefer capacity, making it well-sui
Containerized Car Shipping: Ensuring Safe Transport with the Right Insurance Coverage Why Containerized Car Shipping? International vehicle transport operators prioritize safety features and operational efficiency. Cross-border vehicle transportation via containerized shipping is one of the most trustworthy methods because it delivers secure protection and reasonable costs. Vehicle owners place their cars inside big shipping containers to guarantee protection against adverse weath
ONE introduces new "Store Door" service in India Ocean Network Express (ONE) has announced the launch of its new "Store Door" service in India to enhance inland logistics solutions. According to the company, the ONE stop transaction offers a seamless and competitive intermodal solution from the port of discharge to the last-mile door destination, and vice versa, through its hub ICD locations; ICD Chawapali, Ludhiana, ICD Rewari, and ICD Panki K
Moroccan Ports Key to Strategic Reshaping of Mediterranean Operations Recent geopolitical shifts and escalating security concerns in the Red Sea are reshaping shipping trade routes, with significant implications for the Mediterranean region
CIMC container orders fully booked through March China International Marine Containers (CIMC), the world's largest container manufacturer, said that its factories are full with orders until at least the end of March, as the Red Sea crisis saw rocketing demand for containers. The Chinese state-owned company made this disclosure in a filing to the Shenzhen Stock Exchange, revealing that its 2024 net profit is set to rise by six- to eight-fold fro
HMM launches due diligence for SK Shipping acquisition South Korea's major shipping company HMM is exploring the acquisition of SK Shipping, excluding its liquefied natural gas (LNG) transportation division, in a deal valued at approximately 2 trillion won (US$1.4 billion), according to investment banking sources. HMM is currently conducting due diligence on SK Shipping's tanker, liquefied petroleum gas (LPG) carrier, bulk cargo, and other shipping b
ICS Flag State Performance Table includes new states amid shadow fleet challenges The International Chamber of Shipping (ICS) has updated its annual Flag State Performance Table, introducing four new countries in response to recent maritime trends and priorities
Port of Los Angeles sets record with over 920,000 TEUs in January The Port of Los Angeles kicked off 2025 by handling 924,245 TEUs in January, marking the busiest start in its 117-year history and reflecting an 8% increase compared to the same month last year. During the first month of the year, loaded imports reached 483,831 TEUs, representing a 9.5% rise from the previous year. However, loaded exports declined by 10.5%, totalling 113,271 TEUs. The Californian
Reaching New Heights in Warehousing: Understanding Reach Truck Training and Best Practices Warehousing expenses are witnessing a surge in today's e-commerce boom . Smart shelving boosts storage, and aisles shrink. Ordinary forklifts fail to navigate tight passages. Meet the reach truck-a small, highly manoeuvrable vehicle. These legs provide stability to the loads without the need for a cumbersome counterweight. They are smaller in size and weight yet extremely manoeuvrable. Reach truc
CMA CGM applies port congestion surcharge in Gabon In light of the current situation in Libreville, Gabon, French ocean carrier CMA CGM has informed its customers about the introduction of a Port Congestion Surcharge (PCS). This surcharge will take effect from 15 February, with an implementation date of 15 March for shipments from North America, Latin America, Australia, and Canada. The surcharge applies to all shipments destined for the port of
Wallenius Marine appoints new Commercial Manager Niklas Blomqvist, previously serving as Environment & Quality Manager, has been appointed Head of Wallenius Marine Singapore and Global Commercial Manager. Blomqvist will be based in Singapore in his new position. By establishing the role of Global Commercial Manager in Singapore, Wallenius Marine aims to enhance its market presence and strengthen its focus on the Asian region. Over the past thre
DP World's flagship Jebel Ali Port posts record volumes DP World achieved a remarkable year for trade in 2024, recording its highest container and breakbulk cargo volumes at Jebel Ali Port since 2015. The operator's
Norwegian trio links up for another CSV newbuild Norwegian offshore vessel owner Eidesvik has teamed up with compatriots Agalas and Reach Subsea for another construction support vessel (CSV) newbuild at the Sefine Shipyard in Turkey. The vessel has been designed to perform inspection, maintenance and repair (IMR) work and is similar to the methanol dual-fuelled unit Eidesvik currently has under construction together with ...
Teekay Tankers bags triple sale Teekay Tankers has confirmed deals worth $95.5m for three of its ageing vessels. The New York-listed firm has offloaded a pair of unnamed 2009-built suezmaxes and one 2006-built LR2, which should deliver a gain of about $30.5m in the first quarter. Earlier this month S&P sources listed four Bohai-built 159,000 dwt units; the Tianlong Spirit, ...
Wood nets $120m engineering extension with Shell in the UK Consulting and engineering firm Wood has been awarded a contract extension by energy supermajor Shell for work on onshore and offshore assets across the UK. The $120m contract extension was awarded by Shell UK Limited for brownfield engineering, procurement, and construction. The two-year, cost-reimbursable contract extension, centres on providing brownfield EPC services, as well as ...
More than 70 ships set to be added to EU sanctions list European Union countries have agreed to impose a new raft of sanctions against Russia, including those targeting the so-called shadow fleet used to circumvent restrictions on oil and gas exports. The wide-ranging 16th package of sanctions is expected to see more than 70 ships blacklisted, bringing the total list to over 150, mostly aged tankers. ...
Environmentalists sue to block Trump's offshore drilling plans Conservation and environmentalist groups have sued US president Donald Trump and his administration over his order to roll back the ban on future oil and gas leasing. The court battle against Trump is a two-parter. Several organisations are collectively challenging the order by the US president to revoke Biden's withdrawal of certain areas of the ...
HMM enters due diligence to acquire SK Shipping Korean private equity firm Hahn & Co has selected the nation's flag carrier, HMM, as the preferred bidder for the sale of a majority stake in SK Shipping. Due diligence is due to get underway through to the middle of next month. The deal faces one significant hurdle however. When HMM sold off its LNG ...
Five top brokers join forces to launch recap and charter party platform Five of the world's leading shipbroking firms-Arrow, Gibson Shipbrokers, Howe Robinson, IFCHOR Galbraiths and SSY-have united to introduce Ocean Recap - a purpose-built recap and charter party management platform. Developed in partnership with Signal Ocean, Ocean Recap seeks to address what the brokers described in a release as "growing concerns of monopolisation" and data security ...
Sumitomo buys stake in Estonian offshore wind project Japan's Sumitomo Corporation has bought a 50% stake in the 1GW Liivi wind farm being developed by Enefit Green off the coast of Estonia. Sumitomo bought into the wind farm through the acquisition of half the ownership interest in project company Liivi Offshore. The remaining half is owned by Enefit Green, a renewable energy developer ...
Shelf Drilling bags $50m rig contract extension from Chevron United Arab Emirates-based jackup rig pure-play Shelf Drilling has secured an extension for one of its rigs. Namely, the 2008-built Shelf Drilling Scepter will continue its drilling operations offshore West Africa for one more year. The name of the client was left undisclosed in an Oslo Bors filing. However, the company's latest fleet status report ...
Seatrium bags offshore rig deal from International Maritime Industries Seatrium Offshore Technology, the offshore jackup designer for Singapore shipyard group Seatrium, has won an international tender from International Maritime Industries (IMI) to supply equipment and the license for a self-elevating drilling unit. This comes after ARO Drilling, a joint venture between Aramco and Valaris, and IMI agreed to build a new jack-up drilling rig, ...
Series of tanker explosions around the Med add to European shipping security concerns A spate of blasts recorded across the Mediterranean on tankers that have recently called at Russian ports has security analysts concerned about a new form of attack targeting merchant shipping. Two Thenamaris aframax tankers - the Seajewel and the Seacharm - have both reported explosions onboard in the past month in the Mediterranean, while the ...
Business case for green shipping corridors remains unclear Under current and prospective policies from the International Maritime Organization, European Union, and the US, the business case for green shipping corridors could improve markedly - but not sufficiently - according to a new 72-page report published by UMAS, UCL and the Global Maritime Forum (GMF). Titled 'Building a Business Case for Green Shipping Corridors', ...
Cargill and Hafnia form bunkering joint venture Cargill's Ocean Transportation business and product tanker giant Hafnia have joined forces to launch Seascale Energy, a joint venture, combining Cargill's existing
Trump administration official vows to tax foreign-flag ships calling at US ports On one hand, US commerce secretary Harold Lutnick's pledge to tax foreign-flag ships could be just talk. On the other...
Sanctioned tankers increasingly go dark when calling at China's Dongying Move reinforces signs that the port is becoming a hub for receiving sanctioned vessels as Washington intensifies its crackdown on...
Genco ready to 'play offence' in soft dry bulk market in 2025 Company's fourth-quarter earnings rose to $12.5m in 2024 versus just $5m in 2023, and the average fleet time charter equivalent...
Green corridors unviable without extra policy support Despite the early hype, green corridors for e-fuels have proved too expensive to pull off. Umas, UCL and the Global...
$750m pool deficit is spectre at renewal round feast Combined ratios could see some clubs paying out $6 for every $5 received, brokers predict
MSC's TIL secures minority stake in Moroccan terminal Terminal Investment Ltd is majority-owned by the Mediterranean Shipping Co and will control a 49% stake in the container terminal...
DCSA releases updated booking and bill of lading standards The Digital Container Shipping Association has released the final versions of its Booking 2.0 and Bill of Lading 3.0 standards...
Strategic stakes: EU sharpens focus on Chinese port ownership China's port expansion in Europe has brought mutual commercial benefits, funding infrastructure development and strengthening trade ties. However, amid geopolitical...
Teekay Tankers blames weak VLCC rates for earnings dip Despite relatively healthy mid-sized spot rates, weak Chinese oil demand weighed on VLCC rates, which in turn affected aframax and...
West of England wins Vafias vessels and DP World account at renewal round Britannia derisks under pressure from ratings downgrade
MOL invests in vessel drag reduction technology Fitting 10 to 20 of the units is expected to reduce greenhouse gas emissions and fuel consumption by 3%-7% or...
The Daily View: More than coincidence Your latest edition of Lloyd's List's Daily View - the essential briefing on the stories shaping shipping
Southern California ports see stellar start to 2025 as shippers front-load ahead of tariffs The ports of Los Angeles and Long Beach handled almost 1.9m teu in January, marking their strongest-ever start to the...
Leading shipbrokers introduce recap and charter party management platform The platform, developed in partnership with Signal Ocean, is designed to address the growing concerns of monopolisation and data security...
Daily Briefing Seajewel incident 'looks like pattern of deliberate action', underwriters warn | How 'Maximum Pressure 2.0' could play out in VLGC...
Quebec provides new funding for proposed Montreal terminal, citing US trade tensions The provincial government is looking to reignite the long-delayed Contrecoeur project, saying Montreal needs more capacity and new trade partners.
US policy changes could threaten breakbulk volume growth for ports Robust automobile, steel and wind power equipment movements in 2024 put US ports on a strong footing, but tariffs and a shift in government priorities could temper progress this year.
Oakland pins growth on attracting imports, first-call inbound service The port's recently approved five-year strategic plan details infrastructure, transloading and maritime support activities that it hopes will spur cargo growth by making the Northern California gateway more attractive to importers.
Regional LTL partnership to speed service linking Midwest, Northeast Dayton Freight Lines and A. Duie Pyle are partnering to provide next-day service from the East Coast to all parts of Ohio as shippers demand more speed.
Trump's expansionist worldview puts US maritime interests in spotlight As the new US administration looks to strengthen its regional sphere of influence, bipartisan political support is building to boost US shipbuilding, and thus, the
CSSC close to finalising $15.9bn mega-merger via share-swop absorption with CSIC Long-mooted deal will be the largest in its market for a decade
GTT logs second-best performance as LNG and ethane carrier orders stack up in 2024 Company sees a revival in LNG as a fuel but also intensified competition for this business
Why is China buying capesizes and newcastlemaxes? Simandou, says Himalaya Shipping China has made massive investments in the giant mining project in Guinea
Genco Shipping has some strong thoughts on returning to Suez Canal transits For the Manhattan-based bulker owner, it's an issue that hits a little too close to home
Cheniere set to jump on new US 'permitting window' to double LNG output Producer praises new Trump administration's approach to LNG projects as 'refreshing'
Belships extends share tender for EnTrust Global takeover bid Norwegian shipowner sets new deadline of 7 March, which could be pushed back further
Tanker giant Bahri plants its flag in Singapore with a new office Company says base is part of its strategic growth aims
Maersk launches hunt for next haul of LNG dual-fuel container ships Chinese shipbuilders in frame for second round of newbuildings
'Classic Greek' tactic: Okeanis opens up on time charter stance in big tanker market CEO Aristidis Alafouzos is in no hurry to enter into term deals on the cheap
Turkey keeps skin in Russian oil trades as largest refiner pulls out Tupras refinery said it would wind down dealings with Moscow to avoid US sanctions
'Inherent absurdity': US courts close in on legacy bosses at Eletson Holdings This week's Streetwise newsletter takes a look at the latest in bitter US litigation, and how legacy management sees it
HMM tipped for $2.9bn takeover of rival SK Shipping Deal would redraw South Korean shipping map, creating combined fleet of 170 high-value vessels
Higher costs hit Himalaya Shipping bottom line and dividends A loss of coal volumes hit capesize demand in the fourth quarter
Citigroup emerges as lead bank for $850m loan to fund Danaos Corp orderbook BNP Paribas, Alpha Bank and SEB among lenders involved in big financing transaction
Greek owner Global Ship Lease sells container ship brace to MSC Tonnage-hungry liner giant and Chinese buyers snap up more boxships from secondhand market
Eidesvik Offshore orders methanol CSV with partners Agalas and Reach Subsea Partners have returned to Sefine Shipyard in Turkey for latest newbuilding
Maersk launches hunt for next haul of LNG dual-fuel box container ships Chinese shipbuilders in frame for second round of newbuildings
Clarksons handles $550m bond sale to double Australian miner's bulker exports Investment bank places second debt issue in Oslo for Pembroke Resources
Capital and Lloyd's Register claim shore-power first for new suezmax tankers Evangelos Marinakis company teams with class society to complete power supply assessment for newbuildings
Blasts on bulker sound US alarm for shipowners carrying coal Methane gas accumulated in cargo off the coast of Virginia, report says
'Multiple mines': Mysterious explosions on Russia-trading tankers ignite fears as fresh attacks emerge Speculation mounts about Ukrainian-backed sabotage as Grace Ferrum reported damaged off Libya
India's ONGC seeking joint-venture partners to build and own new VLECs Oil and gas giant needs vessels to ship feedstock for its petrochemical plant
Hanwha Ocean claims shipbuilding first with delivery of its 200th LNG carrier Vessel for QatarEnergy claims title of milestone ship for yard
Rates for 50,000 routes? Vortexa believes its new tool can shake up chartering Data analytics outfit's Anywhere Freight Pricing tool aiming to take friction out of fixing
Diana Shipping takes charter pay cut as bulker banks new deal with Cargill Greek owner says deal will generate $3.95m over about a year
Major brokers team up to challenge Clarksons' charterparty management dominance Five competitive shipbrokers have taken equity in the venture along with Signal Group
UECC nearing FuelEU Maritime surplus deals even with 'volatile' market Eleven-year alternative fuels push giving Oslo shortsea shipowner options
Brokers test water with top-tier buyers for eight big bulkers Five newcastlemaxes and three kamsarmaxes worth around $450m are said to be in play
Energy trader BGN doubles revolving credit facility from Abu Dhabi at $232.5m Besides the Abu Dhabi Exports Office, nine local lenders also participated in the facility
Seatrium secures jack-up rig tender from Saudi Arabian shipyard IMI Separately, Singapore shipyard group's minority shareholder Keppel has pocketed $2.85m by selling 3.5m shares
China Merchants-linked trio team up on multi-purpose vessel newbuilding project China Merchants Energy Shipping said to be chartering the 62,000-dwt vessels for not more than five years
Swedish ship manager Wallenius Marine shifts top commercial position to Singapore Niklas Blomqvist appointed global commercial manager to strengthen Asian market focus
Hafnia and Cargill forge bunker major with fuel joint venture deal Seascale formed after Maersk Tankers ends Pure Marine Fuels partnership with Cargill
China's economic slowdown raises questions for tankers After 20 years of driving the market, Chinese companies pulled forward peak demand forecasts
Okeanis Eco Tankers sees profit slump 38% as revenue dips Top line slides by 7.1% as Greek tanker owner trims dividend
No sure thing? ILA head tells rank and file contract vote an 'obstacle' to overcome The leader of the International Longshoremen's Association is urging rank-and-file members to approve a tentative contract with port employers in a ratification vote on Tuesday.
Airbus postpones rollout of A350 freighter until late 2027 Airbus has delayed the planned entry into service of the A350 freighter for a year because of supply chain problems.
While supply chain frets, Port of Los Angeles sees record January volume Despite an uncertain outlook for trade, the Port of Los Angeles saw its busiest January for container shipments.
Federal Maritime Commission dropping DEI from strategic plan The Federal Maritime Commission announced that it is eliminating a half-dozen DEI-related elements from its 2022-2026 strategic plan.
KF Aerospace acquires replacement aircraft for Purolator regional fleet Canada's Purolator is getting more efficient freighters for its feeder network in western Canada through its partnership with KF Aerospace.
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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