VIDEO: Hanwha Group makes $5BN announcement at Philly Shipyard As Hanwha Philly Shipyard welcomed South Korean President Lee Jae Myung and other VIP guests to the high profile christening of the State of Maine, the third of five MARAD National Security
Port Houston orders new Incat Crowther designed electric tour vessel Port Houston has selected Incat Crowther to design a new, state-of-the-art hybrid electric tour vessel for the port's popular Houston Ship Channel tours. Incat Crowther will partner with Louisiana-based shipbuilder Breaux Brothers
Saildrone Surveyor becomes world's largest USV to gain class certification ABS has awarded its classification to the Saildrone Surveyor, a fully autonomous deepwater unmanned surface vehicle (USV). At 20 meters long and capable of unmanned operations across all world oceans, the SaildroneVIDEO: Hanwha Group makes $5BN announcement at Philly Shipyard
Port Houston orders new Incat Crowther designed electric tour vessel Port Houston has selected Incat Crowther to design a new, state-of-the-art hybrid electric tour vessel for the port's popular Houston Ship Channel tours. Incat Crowther will partner with Louisiana-based shipbuilder Breaux Brothers
Saildrone Surveyor becomes world's largest USV to gain class certification ABS has awarded its classification to the Saildrone Surveyor, a fully autonomous deepwater unmanned surface vehicle (USV). At 20 meters long and capable of unmanned operations across all world oceans, the Saildrone
Elcome finalises major fleet retrofit agreement Elcome International has signed a milestone agreement with a Middle East-based shipowner to retrofit boiler control systems across a fleet of ten crude tankers and product carriers. The project, prompted by recurring issues with aging equipment, represents one of Elcome's most comprehensive retrofit programmes to date and is aimed at ensuring long-term boiler reliability and digital readiness. Th
KCCI down as Ex-Busan rates continue to slide The KOBC Container Composite Index (KCCI) fell 2.66% week-on-week to 1,940 points on Monday, according to Korea Ocean Business Corp. (KOBC). Spot container rates from Busan declined across most major lanes, with the U.S. West Coast at $1,849/FEU (-2.89%), U.S. East Coast at $2,899/FEU (-3.24%), Europe at $2,969/FEU (-4.53%), and the Mediterranean at $3,012/FEU (-3.46%). On secondary routes, rates
MARAD celebrates christening of new national Security multi-mission vessel The U.S. Maritime Administration (MARAD) has christened the third National Security Multi-Mission Vessel (NSMV) at Hanwha Philly Shipyard. Built for Maine Maritime Academy, the new vessel will support cadet training and U.S. humanitarian missions. The NSMV program, led by the U.S. Department of Transportation, is revitalizing America's maritime training infrastructure and supporting 1,500 shipyar
Eimskip reports solid Q2 results Eimskip delivered solid results in the second quarter, supported by strong growth in container liner services and increased activity in logistics, although a significant decline in global freight rates continued to pressure margins in the forwarding segment. Volumes in the company's sailing system rose by 7.9%, a notable acceleration compared to previous quarters. Revenue growth, however, did not
Container ship orderbook crosses 10 million TEU mark For the first time in history, the container ship orderbook has topped 10 million TEU, according to Linerlytica. Newbuilding commissions in the past year has brought the orderbook to a record high of 10.4 million TEU, amounting to 32% of the fleet - its highest levels since 2010. Alphaliner said the present orderbook has broken past records of 7.19 million TEU in July 2022 and 7.12 million TEU in
What Do Forex and Equity Indices Reveal About Trade Flows Forex and equity indices work like two gauges on a dashboard, each telling a story about global trade flows. Currency prices often move first, hinting at shifts in demand and capital. Stock index trends follow, reflecting where money feels safe or risky. Major currency pairs compare to global indices as broad indicators, but the signals can sometimes be misleading. Reading both together offers pr
Turkey blocks Israeli-linked vessels at ports Turkey has taken a significant step in its ongoing tensions with Israel by restricting access to its ports for vessels linked to the country, affecting docking, repairs, and refueling services. According Al-Monitor, under a memo issued by Turkish authorities, the new regulations target ships carrying explosives, radioactive materials, or military equipment bound for Israel. Under the updated rule
Analysis: Geopolitical disruptions redraw maritime trade Global container port rankings in the first half of 2025 reveal a shipping industry in flux, as geopolitical disruptions and shifting carrier strategies redraw trade flows across key hubs. China continues to dominate the global stage, with Shanghai, Ningbo-Zhoushan, and Shenzhen leading throughput growth. Source: Alphaliner Shenzhen posted a double-digit increase of 10.8%, while Ningbo-Zhoushan r
C.H. Robinson unveils AI-powered premium service C.H. Robinson has launched its Always-on Logistics Planner, a premium service powered by a growing network of AI agents. Designed to ensure continuous execution quality across the shipment lifecycle, the Planner establishes a new benchmark in intelligent logistics where automation and human expertise work seamlessly together to build faster, smarter, and more resilient supply chains. Always-on Lo
XO and B&Q advance toward net-zero logistics target by 2040 GXO Logistics and B&Q are making strong progress toward their joint ambition of achieving net-zero carbon emissions across B&Q's logistics operations by 2040. Supporting B&Q's extensive e-commerce and click-and-collect business with more than 700,000 products available GXO has helped the retailer drive innovation and sustainability, in line with owner Kingfisher's vision of "Better Homes. Gavin W
Kuehne+Nagel and MTU Maintenance Lease Services open fulfilment centre in China Kuehne+Nagel has expanded its long-standing partnership with MTU Maintenance Lease Services by launching a new fulfilment centre in Zhuhai, China, dedicated to supporting the coordination and distribution of aero engine parts. The new facility strengthens MLS' global logistics network and underscores both companies' commitment to ensuring fast, reliable access to critical aviation components. A s
CBP issues guidance on additional duties for Indian imports On August 25, 2025, US Customs and Border Protection published a Cargo Systems Messaging Service bulletin providing guidance on the application of additional ad valorem duties on goods imported from India. The measures were imposed under the Executive Order titled "Addressing Threats to the United States by the Government of the Russian Federation." According to the guidance, the additional dutie
DOF scores Asia Pacific vessel deal Norwegian offshore vessel owner DOF has secured a long-term charter for the construction support vessel (CSV) Skandi Inventor in the Asia-Pacific region. The deal, signed with an unnamed international operator, runs for one year from January 2026 and includes extension options. DOF classifies the award as "substantial," with an estimated value of between $25m and ...
HD Hyundai Heavy and Hyundai Mipo to merge South Korea's HD Hyundai Heavy Industries has rolled out plans to merge with its affiliate HD Hyundai Mipo Dockyard by the end of the year, aiming to strengthen its position in the US naval and Arctic shipbuilding markets. The move comes after a Korea-US summit highlighted shipbuilding cooperation under the "Make American Shipbuilding Great Again" ...
Himalaya switches newcastlemax brace to fixed deals Himalaya Shipping is continuing its shift from index-linked earnings, converting two more newcastlemaxes to fixed-rate charters. The Tor Olav Troim-backed, Oslo-listed owner said the vessels will move onto fixed hire from October 1 until the end of the year. The two dual-fuel ships will earn an average of $38,700 per day, while also continuing to ...
Hanwha bankrolls Philly revival in showpiece of Korea-US shipbuilding pact Hanwha Group has unveiled a $5bn expansion plan for Hanwha Philly Shipyard as well as ordering 10 tankers to be built in Philadelphia, in a landmark moment for Korea-US industrial cooperation designed to revive American shipbuilding. The announcement was made on Tuesday at the christening of the State of Maine, the third National Security Multi-mission ...
Eagle S trial exposes voyage data recorder blackout during Baltic rampage The trial has kicked off in Helsinki for the captain and two officers of the Russian-linked oil tanker Eagle S, accused of dragging its anchor across the seabed and severing critical undersea cables between Finland and Estonia last Christmas. Finnish prosecutors say the Cook Islands-registered tanker, part of Russia's so-called shadow fleet, intentionally gouged out ...
OceanScore: 'The stakes are too high to just play around with immature solutions' Shipping has not lost what Albrecht Grell describes as its "pragmatic scepticism", but, says the managing director of OceanScore, this should be viewed as something that is healthy considering the limited resources in most shipping companies to toy around with immature solutions. "The change is that this scepticism is no longer leading to non-adoption," Grell ...
Drydocks World wins deal for world's largest FLNG facility Drydocks World has landed a milestone contract from Amigo LNG to deliver what will become the world's largest floating LNG facility off Mexico. The DP World-owned yard will convert two LNG carriers into floating storage units (FSUs) and build two new FLNG barges at its Dubai base. Once operational in 2028, the four-vessel set-up will ...
COSCO seals supersize LNG carrier leaseback deal with MOL COSCO has moved ahead with a $360m sale-and-leaseback agreement involving one of the world's largest LNG carriers, extending its ties with Japan's Mitsui OSK Lines (MOL). COSCO Shipping Development, the financing arm of China's state-controlled shipping giant, said its subsidiary Oriental Fleet is acquiring a 271,000 cu m QC-Max newbuilding from MOL's unit. Delivery is ...
Venergy boosts MR tanker orderbook in South Korea Greek tanker newcomer Venergy Maritime has doubled its orderbook at K Shipbuilding in South Korea, exercising options for two additional MR product carriers. The Vyron Vasileiadis-led company confirmed the deal on its website for two 50,000 dwt units, priced at about $48m each and adding to a pair of similar ships ordered at the yard ...
International Seaways locks in financing for LR1 newbuilds International Seaways has secured fresh financing to back its fleet renewal programme, tying up a credit deal worth up to $331.6m for six LR1 product carrier newbuildings in South Korea. The New York-listed tanker owner said the facilities, signed with DNB Bank and backed by Korea Trade Insurance Corporation (K-SURE), will partly fund the 73,600 ...
First Oceanbird wing sail launched Oceanbird, a joint venture created in December 2021 by Alfa Laval and Wallenius Lines, has demonstrated a wing sail at an event in southern Sweden. The 40-metre-high rigid wing rose into the sky at an event with many dignitaries present at Landskrona. It unfolded its two segments and showed off a full rotation, giving shipping ...
Smaller ship segment ageing fast The smaller the ship, the older it tends to be appears to be the way the global merchant fleet is progressing in the 2020s. The latest fleet and orderbook snapshot published by broker Arrow shows a remarkable swathe of the world's smaller bulk carriers, tankers and containerships are not just vintage, but past retirement age ...
How West Africa's ports have transformed so rapidly West Africa is going through a maritime transformation, the likes of which we have not witnessed, I'd argue, since China in the 2000s. Whether its containers, dry bulk or tankers, what is happening on the ground at ports in the region is truly exciting - and somewhat underreported. Mediterranean Shipping Co (MSC), the world's largest ...
August 2025 Review One of the world's most famous names in shipping has disappeared following a shareholder vote in Bermuda. Golden Ocean Group, originally founded in 1978 by Fred Cheng before being sold under Chapter 11 protection to John Fredriksen's Frontline in 2000, has now been folded into Alexander Saverys-led CMB.TECH with its shares delisted in New York ...
Oil surplus drives tanker demand As US president Donald Trump works to bring the Ukraine war to an end, oil markets have been struggling with increased levels of geopolitical risk to attach to oil prices and trade. Amid all the political noise, India has continued to buy Russian oil and indeed has deepened its relations with Moscow by agreeing to ...
Turn of the season for dry bulk As with oil, so with iron ore. Chinese buyers have been hoovering up cheap supplies even as domestic consumption continues to fall. Chinese buyers and miners have supported the Pacific capesize spot market to varying degrees, such that the overall effect on gross earnings for a 182,000 dwt ship sailing from Australia to China was ...
Container peak season passes Peak season this year came early and is for sure past us now. ZIM CEO Eli Glickman put into words what all liner execs feel when he said that he does not see any further upside in transpacific freight volumes or earnings this year. Glickman said the "turbulent" market will put "continued pressure on freight ...
Analyst Abstract Tankers The oil market is once again caught between contrasting narratives, with the International Energy Agency (IEA) warning of an "ever more bloated market" while OPEC projects a far more optimistic outlook. The IEA has cut its demand growth forecasts for 2025 and 2026 to 680,000 barrels per day and 700,000 barrels per day, citing ...
Dog days for ship sales The quietest August for sales of secondhand ships this decade with deals for tankers particularly off the boil. Clarksons tallies a total of 262 tankers of a combined 28.5m dwt have now been reported sold in the secondhand market so far in 2025, representing a total investment value of $8.6bn. Whilst the pace of sales ...
Regulatory overlap looms for shipping's carbon future The past few months have been a period of analysing the implications of different sets of regulations for emissions reduction in the maritime industry. Shipping has already started navigating through the regulatory landscape of the European Union's FuelEU Maritime regulations. It is designed to promote the consistent use of renewable and low-carbon fuels in the ...
How to ensure seafarers are getting their regular five-a-day with the flick of a switch Maritime and agritech are not two words that tend to go together. Until now. Step forward, Oren Saar and his firm Agwa, bringing fresh produce to seafarers around the world without the need for green fingers. Saar sees the next 12 months bringing not just operational gains-but tangible benefits to seafarers themselves. "We're seeing a ...
Increased Opec production cause for optimism says Hafnia Refinery throughput has been boosted by the unwinding of Opec production cuts, increasing product tanker demand
US-sanctioned Tinos I owners slam Vitol lawsuit as attempt to 'force' vessel's sale Owners of the Houston-stranded LPG carrier Tinos I are seeking to vacate the vessel's maritime arrest and attachment ordered by...
European oil refiners could help develop green hydrogen European oil refineries could be an unlikely boon to the struggling green hydrogen industry, according to energy consultancy Wood Mackenzie
Oceanbird demos 40 m rigid wing sail Wallenius and Alfa Laval's sail JV has hit a milestone with the opening of a test site in southern Sweden...
Ukraine blasts Russian inclusion of occupied ports Both ports were closed by Ukraine after Russia's invasion, but have been the centre of illegal exports of Ukrainian grain...
Cargo insurance capacity surge will see softer pricing, argues Gallagher Premiums have further to fall as underwriters caught on market share treadmill
Trafigura and Kogas sign long-term supply agreement Commodities supplier Trafigura said that it would provide LNG from across the Pacific through its agreement with Cheniere Energy in...
Rising GPS spoofing threat exposes gaps in marine insurance Cyber exclusions, including the LMA5403 clause, are creating uncertainty for shipowners facing a surge in GPS spoofing incidents, according to...
HDI Global promotes Tikhonov to head of marine global risk Tikhonov was most recently global risk underwriter, having been with HDI Global since 2018
The Daily View: What ever happened to the pristine Arctic?
Hanwha to invest $5bn in Philadelphia shipyard and orders 11 vessels Hanwha Group said it will invest $5bn to expand its Philadelphia shipyard and has ordered 11 new vessels, marking the...
Daily Briefing Sanctioned tankers continue to exploit Arctic route to sustain Russian oil exports to China | Crude tanker shares hit 2025...
ILA suing Virginia port, chief executive over rollout of new rail cranes The union claims the Virginia Port Authority is tacitly violating the new master contract by influencing the port's main terminal employer.
India-US liners adjust capacity to prepare for tariff-linked volume downturn Local freight forwarders who spoke with the Journal of Commerce have reported three upcoming blank calls out of West India through the first half of September in anticipation of lower cargo lifts.
European ports face continued congestion; Asia gateways saw mixed results in Q2: analysis S&P Global Market Intelligence's Global Port Congestion Analysis shows that half of Northern Europe's ports reported year-over-year declines in port moves per hour in Q2, while Asian ports faced higher arrival process times and mixed efficiency results.
Postal groups cite customs compliance issues in US shipment suspensions With no clear definition of what duty and data processes are required by CBP after the Aug. 29 end to all de minimis exemptions, most import shipments via post to the US have been suspended until further notice.
DCSA turns to industry partners to drive shipping standards adoption Tech services company WNS is being added as the Digital Container Shipping Association's "execution arm" to embed standards into systems commonly used by carriers, forwarders and shippers.
India-US liners readjust capacity to prepare for tariff-linked volume downturn Local freight forwarders who spoke with the Journal of Commerce have reported three upcoming blank calls out of West India through the first half of September in anticipation of lower cargo lifts.
Dry bulk FFAs pull back after hitting highest levels of 2025 FFA pullback leads some panamax players in South Atlantic to take notice
Supramax spot rates hit a 15-month high ahead of US grain season kickoff 'Workhorse' bulkers are earning more than larger panamaxes
Trump's tariff wars fail to slow China port throughput growth Ports handle record 170m teu in first half
Tap IMO carbon money pot directly to fund fuel production and supply, says Lloyd's Register chief Nick Brown Alternative fuel verification and quality system needs to be developed as availability increases
Penguins in peril: Ship refuelling plan leaves greens in a flap Intense debate sparked by government allowing offshore refuelling through ship-to-ship transfers
Clean tankers lifting crude help market as scrapping remains key, Hafnia's Mikael Skov says BW Group product carrier owner's profit falls from record levels
Hafnia cautious on killing its own markets with clean tanker cannibals Commercial boss Soren Winther explains owner's strategy on moving product carriers into crude trades
Vyron Vasileiadis keeps foot on the gas with fresh deal for modern Scorpio tanker Fledgling Greek owner's expansion outlay sails past $300m
US doubles tariffs on India even as Russian crude buying falls Indian refiners are buying more US crude as tariffs reach 50%
Penguins in peril: Ship refuelling plan leaves greens in flap Intense debate sparked by government allowing offshore refuelling through ship-to-ship transfers
Global Centre for Maritime Decarbonisation study seeks to crack down on fraud in marine biofuel blends The centre has shown how tracers can be used in marine biofuel supply chains without disrupting operations or affecting fuel quality
Sinokor banks top dollar from sale of container ship brace Chinese buyers are making an aggressive push for secondhand tonnage
Himalaya Shipping converts charters for two newcastlemaxes at the strongest time of the year Changes are in line with what is currently indicated by the derivatives market
'Where we need to be': Global Maritime Forum paints positive picture of methanol and ammonia fuel infrastructure Paper highlights advances to meet shipping's emissions targets
Shipyards HD HHI and HD Hyundai Mipo to merge in drive to enter new markets Giant shipbuilder plans to set up a Singapore subsidiary to focus on overseas business investments
Hoegh Autoliners inks deal for dual fuel ammonia engines in first for car carriers Norwegian car carrier owner will get ammonia fuelling capabilities on four vessels
Tanker newbuildings reported fixed on long-term deals straight from the shipyard Brokers believe longer charters are up for grabs, but VLCC rates take a tumble
Seatrium bags upgrade job for Golar LNG unit bound for Argentina contract Production unit is due to be in operation at new location in 2027
Dynacom suezmax tanker unable to discharge after UAE bans Sudan crude cargoes Oil flows starting to be affected due to breakdown in relations between the two countries
Shell resurfaces with fresh newbuilding tender for LNG bunker vessels Enquiry being kept under wraps as major moves to build out its capacity
Birgitte Johansen quits as Reach Subsea finance chief after 13 years Experienced executive being replaced with K Lund Offshore boss Arne Joa
Shipping asset values and rates to feel the squeeze from orders placed during 'four years of elevated earnings' Shipping loan book and profit fall in first six months at Danish Ship Finance
Like it or not, Trump administration has shipbrokers in its sanctions sights Brokers have been urged to beware of buyers with opaque structures for some time
US doubles tariffs on India even as Russian crude buying falls Indian refiners are buying more US crude as tariffs reach 50% level
How changing capesize cargo mix is supporting smaller bulk carriers, SSY research chief explains Coal is at the centre of the developing dynamic
'Exceptional' Italian tanker owner Giovanni Bertani dies aged 87 Founder of Savona-based company Finbeta mourned by domestic shipping industry
BW LPG could lock in VLGCs on term deals as newbuilding deliveries loom Fearnley Securities says bosses could be open to period charters
Insurer Steamship sticks to what it does best in race for market share Protection and indemnity club says it will not pursue alternative insurance lines
Seacon's net profit to shareholders falls 36.4% on dampened shipping demand, rising costs Shipowner made gains of $13.7m through the sale of three vessels
'Unappealing' MPC Container Ships dives as DNB sees market facing prolonged pressure Analyst keeps sell rating and target price of NOK 15.90
Russian ports giant cancels $200m contract for two icebreakers at domestic yard Local media reports indicate Onega Shipyard was unable to build them due to difficulties obtaining foreign materials
'Exceptional' Italian tanker owner Giovanni Bertani dies aged 87 Founder of Savona-based company Finbeta mourned by domestic shipping industry
Cosco leasing arm buys Mitsui OSK-linked QC-Max LNG carrier for $360m Japanese giant will lease back vessel in $445m financing deal
Ukraine condemns Russia opening up occupied ports to international shipping with fresh call for tough sanctions Government wants further sanctions as Mariupol and Berdiansk appear on new Russian list of active ports
International Seaways taps DNB for $330m loan to finance six tanker newbuildings Portion of new funding insured by Korea Trade Insurance
Hanwha Shipping gives US shipbuilding a massive boost with 10-ship tanker order at Philly yard Second LNG carrier also booked
Clean tankers lifting crude help market as scrapping remains key, Hafnia's Mikael Skov says BW Group product carrier owner's profit falls from record levels
Shipping asset values and rates to feel the squeeze from orders placed during 'four years of elevated earnings' Shipping loan book and profit fall in first six months at Danish Ship Finance
False-flag tanker avoids detention despite European probe Shadow fleet vessel deregistered by Comoros since May but continued to fly its flag
Seacon's net profit to shareholders falls 36.4% on dampened shipping demand, rising costs Shipowner made gains of $13.7m through the sale of three vessels
Cosco leasing arm buys Mitsui OSK-linked QC-Max LNG carrier for $360.5m Japanese giant will lease back vessel in $445m financing deal
Hanwha Shipping gives US shipbuilding a massive boost with 10-ship tanker orders at Philly yard US arm of South Korean conglomerate has also ordered a second LNG carrier vis the Philadelphia-based shipyard
Why hands-on training outperforms e-learning for ship crews Former ship manager, dubbed the 'Marmite of maritime', draws on experience with crew e-learning
Gulf Coast ports post mixed July results: Houston, New Orleans up, Corpus Christi down Ports in Houston and New Orleans posted strong July freight gains, while Corpus Christi crude oil exports declined.
EU-US pact to steady trans-Atlantic trade, forwarder says - with one exception A formal trade framework between the EU and U.S. should stabilize container cargo flows on trans-Atlantic routes, says forwarder Kuehne & Nagel.
South Korea's Hanwha to spend $5B on Philly shipyard South Korea's Hanwha Group backs President Trump's maritime plans, to spend $5 billion to upgrade and expand its shipyard in Philadelphia.
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