VIDEO: Baleària to operate two new all-electric fast ferries between Spain and Morocco Spanish ferry operator Baleària has unveiled the details of two all-electric fast ferries that it will operate on the first green corridor between Spain and Morocco. The zero-emission ships will operate on
WinGD records successful early running on X-DF-A ammonia-fueled test engine CSSC Group's Swiss-headquartered WinGD subsidiary reports encouraging results from early testing of its new X-DF-A ammonia-fueled engine design. "The single-cylinder X-DF-A concept is running well, with combustion efficiency, emissions and pilot consumption
Prometeo project gets EUR 1.5M in regional funding France's Brittany Region has granted a subsidy of EUR 1.5 million (about $1.6 million) to Green Navy for its Prometeo hydrogen-powered passenger vessel project (see earlier story). Green Navy, a member of
Japan-US container trade grows in 2024 Container movements from Japan to the United States reached a total of 643,433 TEUs in 2024, marking a 5.7% increase compared to the previous year. In addition, direct shipments accounted for 445,147 TEUs, reflecting a significant 13.8% growth, while transshipped containers totalled 198,286 TEUs, translating to a 9% decline. Focusing on direct shipments, Tokyo contributed 182,538 TEUs, up 8.9%; N
Strategic and Geopolitical Implications of Taiwan Strait: Comparative Analysis of G7 and BRICS Dependencies The Taiwan Strait serves as a crucial maritime corridor, linking major East Asian economies with the global market. This route's strategic value is highlighted by its substantial trade volume, particularly for nations in the G7 and BRICS groups. Recent reports from Ambrey indicate that the Singapore Strait is experiencing a resurgence as a piracy hotspot, particularly for vessels with freeboards
Container Shipping Stocks: Weekly Performance Overview Container shipping has long been a critical pillar of global trade, facilitating the transport of goods across continents and powering economies. In the past week, the stock prices of major container shipping companies have been influenced by a variety of factors, including geopolitical tensions, trade dynamics, economic trends, fuel costs, and regulatory changes. This article delves into the sto
Marfret receives 300 new reefer containers Marfret has recently purchased 300 new refrigerated containers, which will primarily support exporters from Latin America in shipping tropical fruits, particularly those harvested in Ecuador and shipped from the port of Guayaquil. These new containers will enhance export capacities and align with Marfret's strategy to strengthen trade ties with Latin America. The company plans to use the new reef
Vietnam approves Can Gio transshipment port project The Vietnamese government has given the green light to the "investment policy" for the Can Gio International Transshipment Port Project in Cai Mep. This is a project proposed by Saigon Port JSC and MSC's port operating arm Terminal Investment Limited. According to the latest DynaLiners report, the facility is expected to offer a container capacity of 16.9 million TEUs at full capacity, operating
Kalmar delivers electric reachstackers to Westport's Norwegian terminal Finnish port equipment manufacturer Kalmar has supplied four electric reachstackers to the Norwegian port operator Westport AS, further strengthening their partnership to promote sustainable operations. This repeat order was included in Kalmar's Q2 2024 order intake and the machines were delivered in the fourth quarter of the last year to Westport's newly established terminal at the Port of Moss
SITC to report significant financial growth amid higher box volumes Hong Kong-based box line SITC has issued a positive profit alert for 2024, according to preliminary figures. The unaudited profit attributable to the company's shareholders is expected to be between US$1 and US$1.03 billion. This is translating to a growth of between 87-92% compared to the previous year. At the same time, the annual container volume of the ocean carrier is expected to be approxim
Panama in the crosshairs as Repurchase bill launched As President Trump's inauguration drew closer the noise around his presidency grew louder, drowning out some of the key policies being mooted, taking back control of the Panama Canal did not get missed, but the legislation to activate it may have been.
Hapag-Lloyd implements reefer surcharge for Chile-Asia shipments Hamburg-based container line Hapag-Lloyd has announced a new peak season surcharge (PSS) from Chile to Asia, including China, Taiwan, Japan, South Korea, Thailand, Singapore, Vietnam, Cambodia, Philippines, Indonesia, Myanmar, Malaysia, Laos and Brunei. The new surcharge will be effective from 1 February and will apply to reefer containers. The German carrier set the surcharge at US$600 per refri
Maersk implements PSS from Indian Sub and Middle East to North America Maersk is revising the Peak Season Surcharge (PSS) for shipments from the United Arab Emirates, Bangladesh, Bahrain, Bhutan, India, Iraq, Jordan, Kuwait, Sri Lanka, Maldives, Nepal, Oman, Pakistan, Qatar, Saudi Arabia, and Yemen to the United States and Canada East Coast & Gulf. The updated surcharge will take effect starting 1 February 2025 and will apply to the container types listed below. Con
US retailers keep building up inventories According to the US Census Bureau's most recent inventory data, US retailers are keeping their inventory levels higher than what sales can support. Retail inventory growth is depicted in the following figure, along with a trend line that tracks changes from 2009 to 2019. "Source: Sea-Intelligence.com, Sunday Spotlight, issue 698" "It is clear here that the orange line depicting the inventories is
WinGD tests ammonia-fueled X-DF-A engine Swiss marine power company WinGD has reported promising results during early testing of its new X-DF-A ammonia-fueled engine design. A 52-bore single-cylinder version of the engine is currently undergoing trials at the company's Engine Research and Innovation Centre (ERIC) in Winterthur, with final validation expected ahead of initial engine deliveries scheduled for June 2025. The single-cylinder
CMA CGM applies congestion surcharge in Peru and Chile French ocean carrier CMA CGM announces the implementation of a Port Congestion Surcharge (PCS) in Peru and Chile. Effective 1 February 2025, a surcharge of US$300 per container will apply to dry cargo originating from Callao, Peru, and San Antonio, Chile, destined for South America East Coast, Central America East Coast, the Caribbean, Leeward, Windward, Mexico East Coast, Guyana North Brazil, Oc
COSCO Shipping Ports records industry-leading container throughput growth As the container throughput at ports worldwide continues to escalate, major port operators are strategically enhancing their capabilities to capitalize on this growth, ensuring their competitive stance in the bustling international trade environment.
Moderate upward trend observed in global bunker indices During the fourth week of the year, Marine Bunker Exchange (MABUX) global indices experienced a moderate upward trend. The 380 HSFO index rose by US$1.92 to US$539.71/MT, the VLSFO index increased by US$4.51 to US$626.15/MT and the MGO index also saw a gain of US$2.77, reaching US$806.73/MT. "However, as of this writing, early indications of a downward trend in the global bunker market have been
RSGT Bangladesh invests US$25 million in hybrid port equipment RSGT Bangladesh, the first privately-owned container terminal in the country, is substantially upgrading its operational capabilities at Chittagong Port with an investment exceeding US$25 million in 14 advanced hybrid Rubber-Tyred Gantry cranes (RTGs). These cranes, manufactured by GENMA-KALMAR in Taicang, China, feature cutting-edge battery-hybrid power technology, significantly reducing fuel co
We Asked AI: Party on Container Ship Imagine a vibrant party on a container ship, where the vast, open deck transforms into a festive dance floor. Under the starlit sky, colorful lights string from the towering
Laden Russian tanker loses power in stormy Bay of Biscay A laden Russian-flagged tanker has broken down in the stormy Bay of Biscay off France. The Unity, a 16-year-old aframax, departed Primorsk on January 16 with Russian oil bound for Mangalore in India. The ship ran into difficulties overnight off the west coast of France. It has lost propulsion during extremely stormy conditions in the ...
South Korean offshore wind farm secures offtake deal Taean Wind Power, a joint venture between Copenhagen Infrastructure Partners (CIP) and Vena Energy, has secured a fixed-price offtake contract in South Korea. The 500MW project is targeting the start of construction in the second half of 2026, with commercial operations expected by late 2029. The project will generate enough clean energy to power approximately ...
MOL fixes VLEC newbuilds Japanese shipowner Mitsui OSK Lines (MOL) has revealed the charterer behind its recent shipbuilding deal for very large ethane carriers (VLECs) in South Korea. The Tokyo-based company ordered three 100,000 cu m vessels at Samsung Heavy Industries in late December at around $168m each for delivery by December 2027. The 230-m-long newbuilds have been fixed ...
Great Eastern linked to another supramax bulker sale Indian owner Great Eastern Shipping is offloading another of its ageing vessels as part of the company's fleet renewal initiative. The Mumbai-listed diversified owner has reportedly struck a deal with an undisclosed Chinese buyer for its 2011-built supramax bulk carrier Jag Rishi. The deal for the 56,700 dwt ship, widely reported by S&P sources, came ...
Fastest growing flag data brings shadow fleet into light San Marino, Guyana, Sierra Leone, Comoro Islands, Guinea Bissau and most notably Guinea are the flag states that stand out for their extraordinary fleet growth in the latest data compiled in Clarksons Research's World Fleet Monitor, statistics that highlight the whack-a-mole game authorities in the West are having to fight in their bid to crack ...
Oxan Energy wins Estonia's latest offshore wind round French-based offshore wind developer Oxan Energy has been revealed as the winner of the first Estonian floating offshore wind tender. The company and its partner SNOW, a financial advisor specialising in renewable power generation, will develop the Saare 1 project with a potential capacity of 900MW and up to 60 turbines. The two companies will ...
Capes carrying more bauxite than coal for the first time China's remarkable thirst for bauxite to manufacture aluminium has helped prop up cape rates considerably in recent years. Now for the first time, the capesize fleet is carrying more bauxite than coal, according to broker Arrow. "Volumes from Guinea have surged at the start of the year, whilst panamaxes have been cannibalising capesize coal cargoes. ...
OSM Thome recruits Pia Meling to head new green division Shipmanager OSM Thome has launched EVIGO, a green services division which will be headed by Pia Meling, who currently works with Grieg Green. EVIGO offers end-to-end solutions designed to help customers achieve compliance with evolving environmental regulations while advancing their sustainability goals and staying competitive. "I am thrilled to lead the EVIGO team as we ...
GSB Tankers and Asahi Tanker form chemical tanker JV GSB Tankers and Asahi Tanker have jointly established the Asia Chemical Tanker Alliance (ACTA) to manage the operation and commercial management of chemical tankers ranging from 10,000 to 15,000 dwt. ACTA is headquartered in Singapore, with an additional office in Tokyo. Initially, the joint venture will manage four chemical tankers with the aim of expanding ...
Frosty temperatures send chill down VLGC freight market The Baltic Exchange BLPG Index is down 12.1% this week, in line with seasonal patterns amid frosty temperatures along the...
Slithering through uncertainty: Shipping in the Year of the Snake While some companies are scratching their heads over looming risks, others are gearing up to seize a once-in-a-lifetime opportunity to...
Shipping must be predictable if it wants to borrow Leasing mechanisms are little different to mortgages at the end of the day, but owners must clear the psychological hurdle...
Box rates still sinking as sentiment worsens after Houthi pledge Rates are following a normal seasonal downward pattern, but weaker sentiment could also be in play. Container lines could return...
Greens take aim at fuel standard fudge factors The Clean Shipping Coalition has taken aim at emissions correction factors proposed by Angola, Brazil and Norway for an IMO...
The trouble with volatility is it often proves volatile Get ready to rock with Donald Trump, but shipping remains largely the sensible business of moving cargoes from port A...
Volume of cocaine seized in Belgium and Netherlands plummets While the volume of cocaine seized has almost halved, the number of shipments seized actually increased last year
WinGD on track to deliver first ammonia dual-fuel engines in late 2025 WinGD's first ammonia dual-fuel engines will be supplied to Hyundai Mipo Dockyard for Exmar-owned LPG/ammonia carrier and China's Qindao Beihai...
Russian 'spy ship' fraudulently using IMO of laid up vessel The IMO transmitted by the research vessel erroneously suggests the ship is owned by a sanctioned Russian company that conducts...
MOL confirms VLEC newbuilds backed by Thai charter New tonnage was recently ordered from South Korea's Samsung Heavy Industries for long-term charter to SCG Chemicals, a subsidiary of...
Iranian military exercise behind 'suspicious approach' of vessel The Islamic Revolutionary Guard Corps Navy is conducting an exercise in central and northern parts of the Gulf, Iranian state...
Fidelis syndicate confirms International Group private placement International Group inks first private placement in Lloyd's market for its huge reinsurance programme through newly established Fidelis syndicate
The Daily View: Snakes and ladders Your latest edition of Lloyd's List's Daily View - the essential briefing on the stories shaping shipping
CSSC-listed unit projects sixfold profit surge for 2024 amid shipbuilding boom CSSC Offshore & Marine Engineering Co attributes the profit surge to increased orderbook value and improved productivity in its shipbuilding...
Daily Briefing Trump tariffs could see 70% drop in Chinese exports to US | No short-term Suez return expected for vehicle carrier...
US LTL providers seeking bigger share of Mexico cross-border trucking Changes in supply chains, rising manufacturing demand and even the collapse of Yellow have more LTL trucking firms looking for business on the US-Mexico border.
CU Lines claims Amazon backed out of service contract as ocean rates fell The FMC complaint is a rare instance of a container line accusing a shipper of not living up to the terms of a service contract.
Air cargo rates fall out of Asia despite rising volume on US, Europe trades Average rates hit a 2024 high in early December but have declined steadily since, with not even an early Lunar New Year able to prevent the slide.
Closure of heavy-lift airline heightens concerns over aging global fleet Airbus' sudden shutdown of its heavy-lift subsidiary is pushing aviation experts to investigate alternative options to ensure lifts for outsized and project cargo loads are maintained.
Progress on carbon pricing on track despite US stance on green initiatives: IMO Donald Trump, just hours after returning to the White House Monday, signed an executive order to begin the process of
Wavelength podcast: Trump's orders and busting carbon budgets Plus, geopolitical influences on shipping and why a green fuel spill may cost owners the earth in liabilities
Container shipping shakes off eco-lobby protest as its love of scrubbers grows Use of controversial technology is 'shockingly' more widespread than ever in liner shipping
ITF says more needed to safeguard seafarers as it welcomes release of Galaxy Leader crew Federation calls Houthis to end all attacks on commercial vessels
Why tanker investors got Donald Trump wrong on sanctions and Russia Bets on a quick resolution of the Ukraine conflict may underlie recent stock price weakness
Chevron achieves first oil at expansion project that will boost Black Sea tanker loadings At full capacity, Kazakhstan project's output could fill 158 aframaxes in a year
Donald Trump sanctions policy to take centre stage at Piraeus debate Senior figures from world of maritime mutuals gather next week to debate key topics
Green groups push for unified North European scrubber discharge ban Campaigners argue wastewater contains high concentrations of toxic and harmful chemicals
VLGC spot rates drop by up to one-third as oversupply pressures owners Brokers and analysts say February market is looking quiet so far
Egypt 'cautiously optimistic' on Suez Canal traffic as shipping mulls Red Sea return Receipts from the waterway are down by as much as 70%, the country's trade minister said
Owners on alert as armed gang boards two more bulkers in key waterway Security company Ambrey reports raids on vessels in the Phillip Channel off Indonesia
Trafigura back in China for $205m 'panda' bond after three-year wait Trader and shipowner tops up financing for corporate use with yuan-denominated debt
Dorian LPG lowers dividend on expected revenue drop in third quarter US-listed owner feels the pain from slumping VLGC rates
US producer Venture Global LNG raises $1.75bn from IPO Expansion plans could make company second-largest emitter of greenhouse gases from LNG export terminals by 2030, report claims
DHT Holdings inks VLCC time-charter deal with trader Trafigura, brokers say Tanker giant fixes ship for a year amid a flurry of business
Ship told to turn towards Iran in suspicious approach Authorities are investigating incident reported off Ras Tanura, UKMTO reports
Ukraine demands probe into Russia spill response in Kerch Strait Two tankers designed for river transport broke up during a major storm in December
Greek owner Pioneer Marine Inc to be dissolved Athens-based former shipowning company has been delisted in Oslo
SITC pens $58m order with Huanghai Shipbuilding for newbuilding brace China's second-largest liner operator takes on-order Bangkokmax tally to eight vessels
Hanwha Ocean turns in first profitable year since 2020 Shipbuilder targeting LNG carriers, naval work and US repair business growth in coming 12 months
TMI expects modest bulker demand growth as Red Sea return adds to ship supply Owner says gradual normalisation of trades is likely after Gaza ceasefire
MOL confirms order for trio of VLECs at Samsung Heavy Industries Ships will be chartered to Thailand's SCG Chemicals
Burning methanol 'does not make sense', says LNG fuelling pioneer Shell Toxicity risks of ammonia would need to be 'completely solved' before the major would look at it
West to offer war risk cover for high-risk areas New product adds to annual war risks policies set up in 2023 to cover most dangerous regions
TMI lines up more bulker sales after shedding 28 ships in two years UK-listed owner has cut debt by $208m by offloading older vessels
Major flag states to boot out 114 shadow fleet tankers as sanctions widen Flag states taking action, but blacklisted vessels quickly heading to African registries
Russian tanker rates to China jump fivefold to hit $7.5m on sanctions Traders say lack of vessels could lead to loading disruption in Russia's east
'Subdued demand' and steep repayments weigh on Pareto Bank's shipping loan book Appetite from other banks reduces growth outlook
US demands release of stolen property after Houthis release car carrier crew Seafarers arrive home after 14-month ordeal that sparked the start of Red Sea crisis
Pareto Bank sees increasing activity within asset play as shipping loan volume stays flat 'Subdued demand' and steep repayments weigh on loan book
Clarksons project finance secures deals worth $445m as Norwegian market expands with international shipowners Team bought seven vessels and sold nine in 2024
Red Sea now a 'case-by-case basis' for CMA CGM CMA CGM, the French container line that has continued to transit the Red Sea despite attacks on shipping, said it will continue to route most of its affected services away from the region.
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