Bernhard Schulte Offshore to upgrade SOV to CSOV The SX 175 design offshore wind service operation vessel (SOV) Windea Leibniz is back at Norway's Ulstein Verft for an upgrade. After installation of an adjustable pedestal for the gangway, and a
Southern Devall tank barge will test bed Amogy ammonia-to-power system Brooklyn, N.Y. based high tech start-up Amogy Inc. reports that its innovative ammonia-to-power system for maritime applications is to have its first commercial application in a U.S. inland waterways tank barge. The
Baleària orders second 123 meter LNG-fueled RoPax Spanish ferry operator Baleària has begun the construction of a second fast passenger and cargo ferry with dual fuel natural gas engines at the Armon shipyard in Gijón, Spain. The RoPax cat
Women in maritime stepped up during pandemic crisis, shows WISTA survey WISTA International (Women's International Shipping and Trading Association) and researchers from the Federal University of Espirito Santo (UFES) in Brazil conducted a survey focusing on the impact of the Covid-19 pandemic on women in shipping based on the work, family and community life of WISTA members. According to the findings, 61.51% of participants felt that women demonstrated leadership du
Poseidon Acquisition Corp. acquires Atlas for US$10.9 billion in an all-cash transaction Atlas Corporation, the parent company of Seaspan, has accepted the buyout offer by Poseidon Acquisition Corp. and the consortium will acquire the New York-listed company for around US$10.9 billion. The consortium, formed by certain affiliates of Fairfax Financial Holdings Limited, certain affiliates of the Washington Family, David Sokol , chairman of the board of Atlas, Ocean Network Express (ONE
US government awards JAXPORT US$23.5 million for port sustainability projects The US Department of Transportation (DOT) Maritime Administration (MARAD) has awarded a US$23.5 million Port Infrastructure Development Program (PIDP) grant to JAXPORT's EXPRESS project. The JAXPORT EXPRESS project is a US$47 million public-private partnership between JAXPORT and two of its port tenants, SSA Jacksonville and Crowley. This grant will support sustainability initiatives at the Port'
New managing director appointed at APM Terminals Nordics From 1 November, Mikael Gutman, currently head of procurement at APM Terminals, will take over as managing director, replacing Dennis Olesen, who has led the Nordics organisation since its creation in 2020. Mikael Gutman has been with A.P. Moller - Maersk since 2008, in various roles, including fleet manager at Maersk Supply Service, head of supply chain management at Maersk Drilling and global a
Port of New York and Jersey surpasses San Pedro Bay powerhouse ports The Port of New York and Jersey handled 842,219 TEUs in September and is the busiest container port in the United States for a second consecutive month. The US East Coast port has now achieved 26 months in a row of record-high cargo activity. The Port of New York and Jersey has reported significantly better performance in September than the two major hubs in California, ports of Los Angeles and L
Twelve seafarers missing after cement carrier sinks in Taiwan waters Twelve seafarers from a cement carrier are missing after they jumped into the water off Taiwan's Taichung port on 31 October, after the ship apparently malfunctioned. The 2014-built cement carrier, Xing Shun No. 1, was manned by 20 Indonesian crewmen, and the tragic day began in the morning after tropical storm Nalgae caused high waves to hit the ship while it was anchored. Three of the crewmen b
Allseas now buying China-UK slots from THE Alliance UK freight forwarder-turned-liner operator Allseas Shipping Company, now embroiled in a dispute with the owners of a chartered vessel, has started offering China to the United Kingdom shipments by buying slots from THE Alliance, including Hapag-Lloyd, Yang Mine, ONE and HMM. Allseas has begun promoting sailings on THE Alliance's FE2 Asia - North Europe service, collecting cargoes at Ningbo and Ya
Latest Seafarers Happiness Index report shows continuous increase in seafarers' satisfaction On 31 October, Mission to Seafarers published the findings of the Q3 2022 Seafarers' Happiness Index report, which was conducted with the support of Standard Club and Idwal. Seafarer happiness levels reached 7.3/10, up from 7.21 in the previous quarter, which follows a continued increase in seafarer satisfaction, following the record low of 5.85 recorded in the first quarter of this year. The sur
MSC comments on new IMO regulations about carbon intensity measures Amendments to the International Convention for the Prevention of Pollution from Ships (MARPOL) Annex VI are effective from today (1 November). Although the largest container shipping line in the world MSC said it will support and fully comply with the CII regulation through a range of measures, the company commented on several points of the new regulation alterations. Based on estimates, CII is e
Performance Shipping seals funds for Glencore tanker buy Greek tanker owner Performance Shipping has secured a term loan facility to partially finance its seventh vessel purchase. The Nasdaq-listed company has tapped Greece's Alpha Bank for up to around $18.25m of which up to 50% will be used to pay for the 2010-built LR2 aframax oil product tanker Alpine Amalia. The ship, to be ...
Gram Car Carriers agrees three-year charter extension with Höegh Autoliners Norway's Gram Car Carriers (GCC) has agreed a three-year charter with Höegh Autoliners for the 2,000 ceu vessel. The contract starting in January 2023 is for $22,000 per day, adding around $24m of future revenue to GCC's contract backlog. The 2010-built vessel has been operated by Höegh Autoliners since delivery, supporting the distribution of ...
Seaspan's parent Atlas accepts $10.9bn buyout offer New York-listed asset manager Atlas Corporation, the parent of Seaspan, will be bought by the consortium called Poseidon Acquisition Corp in a deal valued at $10.9bn. The consortium, composed of Japanese liner operator Ocean Network Express (ONE), Atlas chairman David L. Sokol, certain affiliates of Fairfax Financial Holdings and the Washington family, is paying $15.50 ...
Hafnia eyes hydrogen and ammonia shipping as it comes onboard $7.5bn project in the US Oslo-listed product tanker unit of BW Group, Hafnia, has teamed up with energy startup Clean Hydrogen Works (CHW) to explore the development of a new large-scale ammonia and hydrogen production and export facility on the West Bank of the Mississippi River in Ascension Parish, Louisiana. A project called Ascension Clean Energy (ACE), which also includes ...
Solstad Offshore scores $154m with CSV hat-trick Oslo-listed OSV owner and operator Solstad Offshore has won new contracts for three of its subsea construction vessels (CSVs) worth around NOK1.6bn ($154m). The 2014-built Normand Vision has been fixed to compatriot subsea and offshore wind player Havfram, formerly Ocean Installer, for three years with options for an additional two years. The contract will commence ...
Twelve missing as cement carrier sinks off Taiwan Twelve crewmembers remain unaccounted for from a cement carrier that sank off Taiwan's southwest coast on Monday. The Panama-flagged 10,000 dwt lost power and sank in rough seas on the east side of the Changhua wind farm channel with a crew of 17 Indonesian nationals on board. Five crewmembers were rescued by a passing containership, ...
Modec bags FEED contract for ExxonMobil's FPSO in Guyana Japanese floater expert Modec has inked a contract to perform front-end engineering and design (FEED) for a floating production, storage and offloading vessel (FPSO) at ExxonMobil's Uaru development project in the Stabroek block offshore Guyana. The FEED contract award relates to the initial funding by ExxonMobil's subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), to ...
ZeroNorth buys bunker platform Prosmar Technology company ZeroNorth has acquired online platform Prosmar Bunkering. The deal sees ZeroNorth acquire Prosmar's Bunker Dashboard solution and Bunker Pricer module, which will operate under the name Prosmar Bunkering. Prosmar's two other services, Prosmar Risk and Prosmar Price Matrix, which offer freight risk management services are not included as part of the deal with ...
Tug attack darkens prospects for Black Sea grain shipments Monday saw convoys of ships carrying Ukrainian grain depart for voyages across the Black Sea, but the security situation along this vital foodstuff corridor looks to have darkened following Russia's decision over the weekend to walk away from the United Nations-brokered shipping deal. In the wake of an attack on its navy in Crimea on ...
HMM adds two more VLCCs South Korea's HMM is spending some of its box riches bolstering its VLCC arm. Brokers report HMM has bought two three-year-old VLCCs from Singapore's Sentek Marine, paying $185m en bloc for the pair of scrubber-fitted, 300,000 dwt ships, which come with an undisclosed time charter attached. The Hyundai Samho-built tankers are named Neptune M, and ...
DSME unveils its own gas fuel tank The Koreans have developed their own LNG fuel containment system with a units installed on a giant boxship and two tankers to date. Shipbuilding major Daewoo Shipbuilding & Marine Engineering (DSME) has released pictures of a first gas fuel tank made of high manganese steel being installed on a 24,000 teu ship, a rival offering ...
Amon Maritime sets sights on offshore sector with ammonia-fuelled PSV newbuilds Norwegian ammonia shipping company Amon Maritime has launched a new company specialising in the offshore market with the aim of building, owning and operating a fleet of ammonia-powered platform supply vessels for the Norwegian Continental Shelf. All PSVs on the NCS will release zero emissions by 2030, requiring around 80 newbuilds or significantly modified or ...
New yard slated for Dalian Dalian, China's northeastern shipbuilding powerhouse, is set to get another big shipyard. Construction of the RMB20bn ($2.76bn) new yard will start this month and will be completed by the end of 2024. The new yard, which will be run by Dalian Shipbuilding Industry (DSIC), a unit of state-owned China State Shipbuilding Corp (CSSC), will focus ...
Valaris gets North Sea jackup deal New York-listed offshore driller Valaris a new contract with an unnamed operator in the North Sea for its 2019-built heavy-duty harsh environment jackup. The contract, with an undisclosed value, is expected to commence in November 2022 and keep the rig busy until February next year. In addition, a 14-day option has been exercised by ...
Montenegrin lynchpin apprehended in MSC cocaine case The ongoing fallout from Mediterranean Shipping Co's cocaine shipments involving Montenegrin mafia continue to make spectacular headlines. An indictment was unsealed yesterday in federal court in Brooklyn charging Goran Gogic, 43, with one count of conspiracy to violate the Maritime Drug Law Enforcement Act and three counts of violating the Maritime Drug Law Enforcement Act. ...
Subsea 7 scores up to $150m in Asia Pacific Offshore engineering and services provider Subsea 7 has secured a contract in Asia Pacific. No further details are disclosed at this time due to contractual obligations, the Oslo-listed company said in a filing. Engineering work has already commenced and offshore activity is planned for 2024 and 2025. The deal is worth between $50m and $150m.
Gram Car Carriers pays $49m for 2010-built vessel Oslo-listed Gram Car Carriers (GCC) is spending $49m to buy the 5,000 ceu, 2010-built vessel from F. Laeisz. The firm price for the 12-year-old, mid-sized ship is indicative of the record rates the car carrying sector is currently enjoying. GCC will pay $39.2m in cash and issue $9.8m in new shares to fund the acquisition. ...
Helix wins Shell decommissioning contract in Brazil Offshore energy services player Helix Energy Solutions has been awarded a contract by Shell Brasil for deepwater well decommissioning in the Campos Basin. The scope of work includes plug and abandonment services on subsea wells located in the Bijupira and Salema fields. The project is set to start in early 2024 and last for at ...
Rules on ship carbon intensity and rating system enter into force Amendments to the International Convention for the Prevention of Pollution from Ships (MARPOL) Annex VI enter into force today, the starting gun for the introduction of the Energy Efficiency Existing Ship Index (EEXI) and Carbon Intensity Indicator (CII), the most significant environmental legislation from the International Maritime Organization (IMO) since the introduction of the global ...
Joakim Hannisdahl debuts Gersemi Asset Management After his sudden departure from Cleaves Securities a month ago, Joakim Hannisdahl, one of Norway's best known shipping investors, has detailed plans to resurrect an old brand. Hannisdahl was ranked the number one shipping equity analyst globally by Bloomberg for a number of years before embarking on a shipping investment fund for Cleaves last year. ...
Petrobras finds oil in Sepia field Petrobras has confirmed in a statement the presence of oil in the northwest end of the Sepia field, 250 km south of Rio de Janeiro. The oil-bearing interval, at a water depth of 2197 metres in well 4-BRSA-1386D-RJS, has been verified through electrical profiles and fluid samples. Laboratory analysis will further characterise the oil, while ...
ONE consortium strikes $10.9bn deal to take Seaspan private Independent containership lessor first listed in New York in 2005, and merged with Atlas Corp in 2019 as part of...
Black Sea war risk cover dries up as grain deal stalls Military advantage still the dominant consideration for Kremlin, but commercial self-interest also factor in hesitation over renewing grain corridor deal...
Quarterly casualty incidents at highest for 14 years Some 431 incidents of machinery damage or failure were reported from July to September this year. Low levels of maintenance...
Gram Car Carriers buys third PCTC from German shareholder Deal for 5,000 car capacity vehicle carrier follows on from two sisterships bought from same owner in January
Scorpio Tankers 'super-bullish' after record profit Fourth quarter is expected to be even stronger, says company president, which is why he will keep the fleet mostly...
Shipping industry signals alarm over 'flawed' carbon intensity indicator metrics Submissions to the IMO highlight distortions in ship's performance and carbon intensity indicator rating depending on time spent at port...
Search for 12 missing seafarers after cement carrier sinks in Taiwan Strait Taiwanese authorities say they spotted two empty lifeboats
Greece-based shipmanager linked to reported tanker arrest in Iran Vessel was carrying 11m litres of fuel, according to Iranian sources
The week in newbuildings: No signs of slowdown in ordering activity Orders confirmed for a total of 26 ships across most of the major shipping sectors, though gas ships are still...
Overcoming the two-tier training market in maritime People assume that the younger workforce will have strong analytical skills, having grown up in a world full of iPhones...
Trade tangles delay Russian tankers at ports Unusual movements follow speculation that increased calls to the UAE could be an attempt to mask gasoil origins, according to...
Chinese shipping stocks rally on reopening speculation Many shipping and port companies listed in Shanghai and Hong Kong have seen share prices rebound in current trading
Port of New York and New Jersey extends leads over west coast US import volumes are expected to decline throughout the rest of the year, as many retailers shipped cargo ahead of...
MSC hints at 'unintended consequence' from CII rules Geneva-based carrier says it will fully comply with the CII requirements by adopting a range of measures. It expects the...
VLCC master warned of grounding risk, says MPA Plans being made to offload some of the cargo into two tankers before attempting to refloat the vessel, according to...
Newtrul nabs funding to expand load board 'search engine' The truckload market is still searching for a single platform that aggregates shipper loads and carrier capacity, a role that investors are backing Chicago-based Newtrul to eventually fill.
US trucking market on rough road to 'equilibrium' Regional stress is running through US truckload markets as demand softens, with price and capacity fluctuations that challenge shippers and carriers.
Allstates WorldCargo completes acquisition of Dove Logistics & Transportation Allstates WorldCargo, a leader in global supply chain solutions, recently announced it has completed its acquisition of Dove Logistics & Transportation (Dove), a medium-sized, full-service global logistics and transportation company located in Dallas, Texas.
MSC calls for revision of IMO's 'penalizing' carbon rating measure MSC has taken issue with the way the carbon intensity of ships will be calculated under a new IMO rule, which it says does not reflect container shipping's operational realities.
Gulf Coast import share gains to outlast ILWU negotiations: ports The Gulf Coast ports of Houston and Mobile are the fastest and third-fastest growing gateways for US imports of Asian goods as shippers look to diversify away from the West Coast, regardless of the outcome of longshore labor talks.
Older VLCCs in demand as charterers look to hold down rates Tuesday sees VLCC rates pick up after October correction as activity cooled
Crowley to invest $15m in electric-powered equipment at Jacksonville terminal US government plans to fund half of project through $14.6m grant from Department of Transportation and Maritime Administration
Black Sea grain corridor on life support after Russian pullout UN will not let any ships sail on Wednesday and warns that the scheme is hardly viable without Russian participation
What's in a number? Bugbee floats an $82 future for Scorpio Tankers As president touts enhanced net asset value, sceptics at Deutsche Bank increase shipowner's price target for second time in a week
Cargo owner, insurer take aim at DHL subsidiaries after massive cargo loss Duo allege improper lashing led to the loss of 26 oil pumping units and damage to another 14 rendering them unusable
BlackRock follows up Golden Ocean deal with $153m investment in Frontline US investment giant becomes second-biggest shareholder in tanker giant behind John Fredriksen
Performance Shipping locks up bank financing for new acquisition Five-year loan will help pay for product tanker purchased in August and due for delivery this month
Scorpio Tankers shares surge on quarterly earnings beat, strong Q4 guidance Products tanker giant restocks $250m buyback authorisation for shares and notes while debt-reduction continues
Shareholders complete $10.9bn take-private deal for Seaspan parent company Atlas Corp World's largest boxship tonnage provider succumbs to offer from shareholders and Japan's ONE
Shareholders complete $10.9bn privatisation of Seaspan parent company Atlas Corp World's largest boxship tonnage provider succumbs to offer from shareholders and Japan's ONE
Expanding Union Maritime raises $153m for more ship purchases Bank loans and sale-and-leaseback deals fill UK shipowner's war chest
Union Maritime reveals big expansion in tankers and bulkers UK shipowner has followed 2021's wheeling and dealing with more acquisitions this year
EDF and Moller Center: Investors need to push shipping to 'take ambitious action now' on carbon Joint report argues shareholders should ask both shipping companies and their customers to cut operational emissions and to go further on disclosures
VLGCs approach $100,000 per day on Panama Canal congestion Spot rates at highest level for nearly two years
Container ship giants entering South American and Indonesian trades Record sizes of container ships deployed as freight market are tumbling
Amogy aims to have ammonia power system on tank barge in 2023 Start-up announces first maritime use of its ammonia-to-power system
Bulker group J Lauritzen invests in BW Group's wind venture Cadeler Kristian Morch explains why the WTIV player has 'all the right ingredients'
Amogy aims to have tank barge running on ammonia in 2023 Start-up announces first maritime use of its ammonia-to-power system
US delays start of Russian oil price cap amid industry fears Russian crude can now be discharged by 19 January under new US Treasury guidance
Thenamaris linked to its first bulker sale in nearly two years Disposal of firm's last panamax is a sign of secondhand values bottoming out or, in some cases, even rising
Cheaper yen boosts profits at NS United Japanese bulker operator attributes improvement in earnings to currency movements
DSME fits first high manganese steel LNG bunker tank to Hapag-Lloyd ship New type-B cryogenic fuel tank makes its debut on container ship newbuilding at South Korean yard
Gram snaps up bargain car carrier from shareholder F Laeisz Norwegian owner adds third PCTC unit from biggest investor
ABS thumbs up to onboard hydrogen creation and carbon capture system Norwegian firm Rotoboost uses decomposition process to produce hydrogen that can be used for fuel cells or as blend-in fuel for combustion engines
Clarksons projects 5% demand jump in strong-looking 2024 tanker market Initial forecasts look promising for owners as fleet growth set to go into reverse
ZeroNorth buys bunker platform Prosmar to jump-start green transition AP Moller Holding, Cargill and PSG Equity-backed operation expands with Norwegian takeover
Scorpio-backed Britishvolt wins cash lifeline after UK withdraws funding Battery start-up reportedly finds alternative funding
Gram snaps up bargain car carrier from shareholder F Laiesz Norwegian owner adds third PCTC unit from biggest investor
ZeroNorth buys bunker platform Prosmar to jumpstart green transition AP Moller Holding, Cargill and PSG Equity-backed operation expands with Norwegian takeover
Grain corridor insurance cover set to end after Russia suspension, says Marsh Twelve ships left on Monday but senior broker warns that few underwriters will be prepared to take on new risks
Twelve seafarers missing after cement carrier sinks in Taiwan Strait Crew members had made it into life boats after loss of the Xing Shun No 1
Amon Maritime plots big order of ammonia-fuelled PSVs through a new venture Huge need for zero-carbon vessels in North Sea, Norwegian company says
'Still possible to get some justice,' says critical Russian shipping lawyer Konstantin Krasnokutskiy has to run a top Russian law firm from Athens these days, but believes he can still be effective in Russia's courts
Shipping analyst Joakim Hannisdahl reveals plans for new fund after 'challenging' Cleaves split Analyst and investor is going back to the future with fresh venture, Gersemi Asset Management
Rodolphe Saade-backed CMA CGM makes play for ships as container markets bottom out Ocean carrier leads French foray into charter and secondhand markets
Addleshaw Goddard's Singapore managing partner Ton van den Bosch jumps over to Clyde & Co Law firm's new partner tasked with growing its marine and natural resources practice in Asia Pacific
Ukraine grain exports were at 85% of pre-conflict levels, says Clarksons Nearly half of all cargoes had been carried on handysize vessels with an average age of 17 years
MSC warns CII compliance could absorb up to 10% of capacity across global container fleet Liner giant calls for changes in the way CII is calculated but says it is ready for the forthcoming regulations
Singapore warned VLCC about 'potential risk of grounding' MPA's port operations control centre is said to have issued early shallow water warnings prior to the casualty
Canopius takes a principled approach to the marine insurance business Specialty underwriter prioritises profit, but also believes in sticking by its clients in difficult time
Behind the Grindrod sale: Eagle and Genco swung and missed before TMI prevailed US-based companies offered cash in one case and shares in the other but faltered amid weakening summer-2022 dry bulk market
Iranian forces seize Saint James tanker on fuel smuggling allegations A tanker whose master was recently ousted at gunpoint in Yemeni waters is now in the hands of Iran's Revolutionary Guard
Sanctions could lift already booming product tankers to new heights Product-tanker share prices are up triple digits year to date as investors position for sanctions upside.
Freighter frenzy could lead to oversupply of cargo jets Leasing companies are going bonkers converting used aircraft for cargo. As demand for air cargo cools, there could be a glut that lowers shipping rates.
Did you know there are ships named after college football teams? During the past century, hundreds of ships in the U.S. merchant marine have been named after colleges and their football teams.
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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