Matson places $1 billion order for 3 LNG-fueled box ships at Philly Shipyard Honolulu-headquartered Matson, Inc.(NYSE: MATX) reports that its Matson Navigation Company Inc. subsidiary has signed contracts with Philly Shipyard Inc. to build three new 3,600 TEU Aloha Class LNG-fueled containerships at an aggregate
Maersk: Record results, but "dark clouds" warning Container shipping and logistics giant A.P. Moller - Maersk (Maersk) today again reported record results, but analysts seemed to be more focused on CEO Søren Skou's cautionary words about dark clouds on
Russia resumes participation in Black Sea Grain Initiative Ukraine grain movements are reportedly moving again following intense negotiations led by the UN and Turkey. Russia's RIA Novosti news agency reported today that Russia is resuming participation in the Black Sea
Port NOLA unveils design updates to the Louisiana International Terminal The Port of New Orleans (Port NOLA) announced progress at the Louisiana International Terminal in St. Bernard Parish on 27 October, including investments in sustainability, updates to transportation infrastructure and a new terminal design that directly addresses early community input on traffic, neighborhood buffers, drainage and more. The US$1.5 billion container facility on the Lower Mississip
HHLA Next to improve communication and coordination of port calls HHLA Next was established by Hamburger Hafen und Logistik AG (HHLA) a year ago as a central unit with the aim of quickly and accurately identifying and promoting innovations in the transport and logistics sector. According to HHLA's announcement, with heyport, HHLA Next has now developed a product designed to improve communication and coordination of port visits. When it comes to coordinating por
Hackers could re-create Ever Given grounding in Suez Canal The Suez Canal's status as a major crossing point in shipping makes it a prime target for hackers intent on causing chaos similar to that of Ever Given's grounding in the waterway in March 2021. The Great Disconnect, a report produced by maritime research firm Thetius, maritime cyber risk management specialist CyberOwl and law firm Holman Fenwick Willan, said that it is possible for hackers to pe
Port Houston to apply new container import dwell fee from December The Port Commission of the Port of Houston Authority authorised amendments to Tariffs Nos. 14 and 15 covering two box terminals, Barbours Cut Terminal and Bayport Container Terminal. The port commission decided to implement a sustained import dwell fee from 1 December 2022, while it has also authorised an optional excessive import dwell fee. Port Houston said this new fee structure is aimed to he
DP World signs deal with Chinese partner to expand operations in Shanghai DP World has signed a Memorandum of Understanding (MoU) with Shanghai Lin-Gang Economic Development Group (Lin-Gang Group) to expand its operations in China and strengthen logistics and trade development at the Lin-Gang Special Area, a free trade zone in Shanghai. Lin-Gang Party Secretary and member of Shanghai Standing Committee, Jinshan Chen, DP World chairman and CEO, Sultan Ahmed Bin Sulayem,
Chittagong port releases Hapag-Lloyd boxship after US$364,000 payment A chartered container ship by Hapag Lloyd got released from the Chittagong port after L&B Hansa Feederschiffe GmbH & Co KG, the vessel owner, paid US$364,000 for the accident in which the vessel hit a gantry crane and damaged it while taking berth at a port jetty. The 1,718 TEU vessel remained detained by the port authority for 36 days due to delays in assessing the damage and losses incurred, an
CMA CGM introduces fresh FEMEX service setup French ocean carrier CMA CGM has announced the new FEMEX setup with the addition of the port of Thessaloniki in Greece into its Southbound rotation. CMA CGM said it aims to strengthen its presence in North Europe - Greece market and wants to use Thessaloniki as a connection hub between North Europe and Cyprus through the company's SSL MED Thessaloniki-Limassol service coverage. The port rotation
Saudi Arabian container ports see increased box traffic in third quarter According to the third quarter report, Saudi ports have increased container volumes by 10.5% compared to last year's throughput in the same period, handling 1,981,271 TEUs. Statistics for the third quarter show an 11.56% increase in cargo throughput, reaching a total of 82,570,478 tonnes this year, compared to 74,016,761 tonnes in Q3 last year. The penultimate quarter of this year saw vehicle vol
Maersk reports revenue over US$22 billion, nears US$9 billion in profits A.P. Moller - Maersk's results in the third quarter of the year showed higher profits in all its three main activities: Ocean, Logistics & Services and Terminals, compared to the same period last year. The Danish company's revenues increased by 37% and both EBITDA and EBIT increased by approximately 60% compared to Q3 2021, while global container volumes are estimated to have declined by 3% in th
ContainerPort Group expands logistics services to liberate distressed containers On 31 October 2022, ContainerPort Group (CPG) announced the launch of the Expedited Services team, as part of its wider logistics unit. The Expedited Services team will focus on finding solutions for moving customer-critical containers that are not easily accessible or otherwise held at rail yards and container docks across the United States. "Customers continue to have difficulty getting their f
CoolCo to boost LNG carrier fleet with Idan Ofer's quartet LNG carrier owner Cool Company (CoolCo) has revealed plans to buy four vessels from Quantum Crude Tankers, an affiliate of Idan Ofer's Eastern Pacific Shipping (EPS) and its largest shareholder. A spinoff of Tor Olav Trøim's Golar LNG said it would pay around $660m for two modern two-stroke 174,000 cu m vessels Kool Firn and ...
DP World inks Shanghai free trade zone deal Dubai-headquartered terminal operator DP World has signed a memorandum of understanding with state-owned Shanghai Lingang Economic Development Group (Lingang Group) to support logistics and trade development at the Lingang Special Area, a free trade zone in Shanghai. The deal will see DP World expand operations in China and work with the Lingang Group to deploy ...
Ocean Winds, Mainstream and ESB press ahead with large floating wind projects off Scotland Ocean Winds, Mainstream Renewable Power and ESB have inked seabed lease agreements with Crown Estate Scotland for the development of three floating offshore wind farms off the Shetland Islands in Scotland that are expected to generate 2.8 GW of power. The three projects include Ocean Winds and Mainstream's 1.8 GW offshore wind farm, a 500 ...
Peterson scores Dutch wind farm contract Energy logistics provider Peterson has been awarded a significant contract from Fabricom Offshore Services, an Equans company, to support the converter platform for Hollandse Kust Noord wind farm in the Dutch North Sea. The contract will see Peterson provide a range of logistics services after the Hollandse Kust Noord topside installation and commissioning work begins. ...
Hannisdahl hits out at 'smear campaign' launched by Cleaves Securities Joakim Hannisdahl, the man at the centre of a ship investment storm breaking in Norway today, has responded to allegations that he was in breach of his duties while heading Cleaves Asset Management. Hannisdahl, who stepped down from his role with Per Olav Karlsen-led Cleaves last month citing "irreconcilable differences", yesterday let contacts know of ...
Costamare forward fixes 11 boxships New York-listed Costamare has forward fixed 11 of its containerships to an unnamed leading liner, boosting its contracted revenues by about $420m. The Greek boxship and bulker owner has chartered out seven ships for four to five years starting in 2025, and the remaining vessels will start new contracts in 2023 and 2024. Specifically, six ...
Russia returns to Black Sea grain deal Russia will renew its involvement in the Black Sea grain deal, the country's defence ministry said in a statement on Wednesday. Over the weekend, Moscow pulled out of the United Nations-backed deal to allow Ukrainian grain exports, saying it could no longer guarantee the safety of dry cargo ships in the Black Sea Grain Initiative ...
AD Ports and Fugro link up for uncrewed surface vessels Abu Dhabi-based ports and logistics giant AD Ports Group has partnered with Dutch surveyor Fugro to expand maritime remote and autonomous capabilities in the Middle East through the development of uncrewed surface vessel (USV) operations. Fugro has been establishing a global network of remote operations centres and autonomous vehicles that support the maritime industry. The ...
Japan's utility TEPCO snaps up floating wind specialist Flotation Energy Japanese utility Tokyo Electric Power Company (TEPCO) has struck a deal to acquire Scottish offshore wind developer, Flotation Energy for an undisclosed sum. The move marks TEPCO's first major venture into offshore wind markets in the UK and overseas. Its subsidiary, TEPCO Renewable Power, has a generating capacity of 9.9 GW of renewable energy in ...
Grain exports from Ukrainian sea ports halted Grain exports from Ukrainian sea ports have been halted today as the security situation in the Black Sea remains tense following Russia's decision over the weekend to suspend its participation in a regional shipping initiative. In the wake of an attack on its navy in Crimea on Saturday, Russia announced it would no longer be ...
Cleaves Securities plans legal action against Joakim Hannisdahl Cleaves Securities has hit out at the actions of Joakim Hannisdahl, accusing the famous Norwegian shipping investor of many breeches of duty, and warning it will now take him to court. 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 ...
COP27 climate summit urged to stop new offshore drilling Stopping new offshore drilling, along with other ocean-based solutions, can deliver nearly 40% of the global emission reductions needed by 2050, an analysis by Washington-based ocean advocacy group Oceana shows. The analysis released ahead of the 27th UN Climate Change Conference (COP27) in Egypt, has estimated that halting the expansion of offshore drilling, combined with ...
New report warns hackers could create another Ever Given incident in the Suez The Suez Canal is among the most secure waterways in the world, with thousands of soldiers and check-points covering the 193 km trade artery. However, despite the military hardware on site, it is the ships transiting the canal which could pose the greatest threat to security. With GPS spoofing on the rise at multiple locations ...
BlueFloat consortium unveils 900 MW offshore wind farm in New Zealand Spanish developer BlueFloat Energy and its consortium partners Energy Estate and Elemental Group have moved to build a 900 MW offshore wind farm in New Zealand. The consortium, formed last year with Australia's Energy Estate and New Zealand's Elemental Group, is proposing a fixed bottom project 22 km off South Taranaki - the first of ...
Safety checklist published for the transportation of lithium-ion batteries Insurers UK P&I Club and TT Club have teamed up with scientific consultants, Brookes Bell, and issued a 21-page white paper highlighting the continuing safety threat created by the transportation of lithium-ion batteries. Recently, serious and sometimes catastrophic incidents involving lithium-ion batteries have become more commonplace, with fires reported in all modes of transport - ...
PGS agrees $150m private placement Norwegian seismic contractor PGS has raised $150m in a private placement of new shares. The Oslo-listed company said the private placement attracted strong interest from existing and new Norwegian, Nordic and international investors at a subscription price of NOK6.70 per new share, representing a 6.8% discount to the transaction day volume-weighted average price. Compared to ...
Triple acquisition takes MSC buying spree to 250 ships The historic secondhand vessel spree Mediterranean Shipping Co (MSC) embarked upon in August 2020 has now hit the 250-ship mark with news of three more acquisitions. Alphaliner is reporting the Soren Toft-led carrier has taken the 5,618 teu, 1999-built sisterships Conti Canberra and Conti Darwin as well as the 14-year-old, 2,702 teu X-Press Kanchenjunga. MSC, ...
Safeen Feeders moves for Blystad boxship resale Rapidly expanding Safeen Feeders has moved for a resale. Alphaliner reports the Abu Dhabi Ports subsidiary has swooped for the 1,800 teu, one of three sister ships Arne Blystad-backed Songa Box has contracted China's Huang Hai shipyard to build. As well as 10 boxships, Safeen Feeders, established in 2020, has also entered the tanker ...
NYK orders two LNG-fuelled bulkers at Oshima Nippon Yusen Kaisha (NYK) will order two LNG-fuelled large coal carriers from Oshima Shipbuilding. The 95,000 dwt vessels are scheduled to be delivered in 2025. NYK said in a release today it is positioning LNG fuel as a bridge solution until future zero-emission ships can be realised. The company ordered the world's first LNG-fuelled large ...
BOEM designates two offshore wind areas in Gulf of Mexico The US Bureau of Ocean Energy Management (BOEM) has determined the locations of two wind energy areas (WEAs) in the Gulf of Mexico. The first WEA is located approximately 24 nautical miles (nm) off the coast of Galveston, Texas and totals 508,265 acres. The second WEA is located about 56 nm off the coast of ...
Amogy and Southern Devall announce partnership and tank barge project Amogy, a US company that offers ammonia-based, emission-free power solutions to decarbonise transportation, and Southern Devall (formerly Southern Towing Company & Devall Towing), which specialises in transporting bulk liquid chemicals and fertilizer products, have developed a strategic partnership and technology-deployment project. Southern Devall delivers ammonia to terminals for export and agr
Matson to add three LNG-powered containerships for $1bn First of the 3,600 teu 'Aloha Class' containerships are slated for delivery in the fourth quarter of 2026, with subsequent...
UK appoints latest minister for shipping Industry insiders hope that the appointment of Baroness Vere draws a line under a recent period of political instability
Dorian benefits from robust rates and LPG export increase Company says outlook for the fourth quarter of the year is positive but sees some caution because of political and...
Ro-ro sector warned of risks from growth in electric vehicle shipments Current regulations do not take account of electric vehicles fitted with lithium-ion batteries carried on ro-ro vessels, ferries and vehicle...
Ardmore rewards investors after record profit Ardmore expects elevated tanker rates throughout the winter as trade flow disruptions because of Russian sanctions continue to add to...
Maersk's transformation wins over customers Maersk chief executive says the group no longer defines itself in terms of ocean volumes as restructuring from an energy...
War risk and cargo cover for Ukraine back after Russia resumes grain deal Russia will rejoin the Black Sea Grain Initiative after receiving guarantees from Ukraine that it will not use the corridor...
Crew-change crisis has changed the seafaring landscape, says report This progress report from human rights specialists offers a sober reflection of the current seafarer situation and emphasises the need...
Containership chartering activity increases Recent chartering activity has been dominated by ships of below 2,000 teu capacity, with CMA CGM being particularly active in...
Costamare agrees five-year boxship charters amid record profit Eleven container vessels have been forward-chartered to a leading liner company
Maersk forecasts further demand contraction despite record earnings Chief executive Søren Skou says company will continue to pursue growth opportunities in its logistics business as ocean freight rates...
Optimism over reopening of China requires caution A successful reopening will boost transportation demand and in the longer-run reduce supply chain disruptions, but reaching that destination is...
NYK orders two LNG-fuelled panamax bulkers The large coal carriers are part of NYK's bulk carrier fleet development aimed at achieving the group's 2050 goals in...
Supply chain resilience is going to be difficult and expensive Politicians and businesses promised to strengthen and diversify global supply chains in the wake of recent disruptions - yet even if...
Shipping seeks resilience as China's 'world factory' position weakens Should shipping be concerned about supply chain fragmentation? Or will the increasing efforts of developed countries to emulate China's industrial...
Suspicious activity rises in Caspian Sea as Russia looks for supply chain alternatives Companies in Europe and North America are shunning Russian business, but the country's commodities are still in demand and the...
Daily Briefing Black Sea war risk cover dries up overnight | Trade tangles delay Russian tankers at ports | MSC hints at...
Oakland port disruption underpins support for West Coast cargo shift A work stoppage in Oakland only served to further stoke the fears of US cargo interests who have been routing discretionary cargo away from West Coast ports to avoid disruptions linked to ongoing longshore labor talks.
LTL demand now rising at standalone XPO Tonnage began increasing year over year at XPO late in the third quarter and continued to rise in October as the less-than-truckload carrier expands capacity.
New container orders drop to lowest in three years: Textainer Despite a downturn in the container leasing market, IMO regulations next year could prompt carriers to employ more slow steaming, which would boost the need for additional boxes starting in mid-2023.
WiseTech targets digital documentation market with Shipamax buy WiseTech Global has resumed its acquisitive ways with the purchase of Shipamax, a UK-based logistics data extraction software vendor.
Unravelling the complexities of zero carbon with hydrogen More innovation is necessary to achieve the net-zero target for shipping. Among others, hydrogen is helping to close the gap in industries such as heavy-duty transportation, steel manufacturing, fertilizer, and methanol production that would otherwise be difficult to eliminate.
Carrier earnings to slow with rate levels past their peak: Maersk CEO Maersk reported a record Q3 result as shippers locked into long-term contracts continued to drive profitability for the carrier despite sharply declining volumes.
MyCarrier offers lifeline to shippers affected by Kuebix closure Shippers affected by the closure of a free less-than-truckload transportation management system in October have been given a pathway to migrate to another system connected to 15 LTL carriers.
Matson returns to Philly Shipyard with $1bn Jones Act newbuilding deal Hawaiian liner operator orders three 3,600-teu container ships with LNG fuelling capability as earnings weaken
Seaboard's marine segment posts profit while pork sector wallows in loss New York-listed parent company still registered higher profit for third quarter but not for first nine months of year
Tanker pools make sense in booming market, says Maersk Tankers boss Christian M Ingerslev believes new tanker owners are hesitating to join pools in race for bumper profits
Tanker markets in 'disarray' as Russia turmoil pushes rates upwards Tankers race to import crude into EU before ban starts on 5 December
Glencore oil traders sent cash bribes by private jet to Africa, court hears British subsidiary of Swiss multinational has admitted seven bribery charges and is due to be sentenced this week
Even with an incoming dividend, Ardmore remains focused on debt Owner's dividend policy calls for one-third of earnings to be paid out, leaving plenty left over to pursue other goals
Green Seas: 'Huge opportunity' as California no longer just dreaming of offshore wind Our environmental sustainability newsletter visits the Golden State, virtually at least, to find out whether the new gold rush can be found out at sea
Costamare sees no reason for spin-off in current conditions Container ships and bulkers complement each other nicely at the moment, CFO explains
Cleaves threatens legal action against Joakim Hannisdahl after split War of words erupts in spat that could see differences aired in court
illimity emerges as financier behind Kalypso's container ship market entry Italian lender arranged two Italian and EU-backed loans for domestic newcomer
New Fortress progressing five FLNG units for three US and Mexican Gulf sites Company reveals it has trio of FSRUs open for deployment over the next three years
Shareholders complete $10.9bn take-private deal for Seaspan Corp parent Atlas Corp World's largest boxship tonnage provider succumbs to offer from shareholders and Japan's ONE
Shipowners' Club chief executive Simon Swallow to retire P&I veteran says it will be business as usual until he steps down in May next year
'Hey port, a ship is arriving': System launched by Hamburg terminal firm Innovation offshoot of German port operator launches platform to synchronise and improve the coordination of port calls.
Maersk to slash capacity as it battles falling container demand Normalisation will lead to further mothballing of vessels on key trade routes
Ardmore starts dividends and buys five tankers as record profit rolls in Ireland-based owner ready to return chunk of growing profit to investors in hot markets
Insurers Ascot and Marsh resume Ukraine grain cover after Russian reversal Insurance can now be placed for Russian business, but at a higher price
Costamare fixes forward until 2030 amid softening container ship market Shipowner locks in extra-long employment for more than a seventh of its container ship fleet while maintaining profit at record levels
Russia rejoins Black Sea grain shipping corridor Security guarantees provided by Ukraine appear sufficient, Russia says. The long-term survival of the scheme, however, is not guaranteed
PGS sells out $150m equity raise as seismic markets heat up Owner launches follow-on offering as it gains time to refinance
Dorian LPG sees strong rates boost results and extends charters VLGC owner benefits from healthy supply-and-demand balance and robust spot rates
Wallenius Wilhelmsen logs record $246m quarterly profit, but difficulties persist Norwegian car carrier owner working hard to meet growing demand
Singapore owner linked to purchase of world's biggest tanker from Euronav VE Marine identified as buyer of ULCC for storage operations
Maersk-backed ZeroNorth open to more deals as tech sector poised for consolidation Optimisation operation could be platform for bringing together splintered maritime space
Sanctions web sparks S&P spike but puts other vessels in a bind As Ukraine-related sanctions drive ship sales in unexpected directions, one set of specialised vessels is stuck in a political double bind
Japanese giant NYK reveals 'bridge solution' order for LNG-fuelled bulk carriers at Oshima Newbuildings are part of Japanese giant's transition to zero-carbon operations
P&I insurer Britannia to target a 10% increase in premium income at next February's renewal Insurer will tackle next February's renewal with a new management team
AP Moller-Maersk rakes in record profit but eyes 'dark clouds on the horizon' Danish liner giant maintains profit forecast but sees global container demand in the red this year
Hoegh Autoliners locks in fleet to 2025 with Gram Car Carriers deal Norwegian owner extends charter for specialist feeder vessel owned by compatriot
BlackRock follows up Golden Ocean deal with big investment in Frontline US investment giant becomes second-biggest shareholder in tanker giant behind John Fredriksen
'Significant dividends' on the way after CoolCo removes uncertainty LNG carrier group secures strong pay-out level through term charters
Hannisdahl planning to recruit as new shipping fund venture gets off the ground Respected shipping investor is focusing on cash and tankers currently
Tanker pools make sense in booming market, says Maersk Tankers boss Christian M Ingerslev believes new tanker owners are hesitating to join pools in race for bumper profits
Hot LNG market drives profit surge at Cosco Shipping Energy Hong Kong-listed company says it has also increased its LNG newbuilding orderbook significantly
Hot LNG markets drives profit surge at Cosco Shipping Energy Hong Kong-listed company says it has also increased its LNG newbuilding orderbook significantly
Crowley to invest $7.3m in electric-powered equipment at Jacksonville terminal US government plans to fund half of $14.6m project through $7.3m grant from Department of Transportation and Maritime Administration
Retail tycoon shelves plans for 1st cargo airline in Vietnam Investors behind Vietnam's first domestic cargo airline, IPP Air Cargo, have grounded operations before ever taking off.
End of an era: Profits finally peak for shipping giant Maersk Maersk's guidance implies fourth-quarter earnings will plunge 39% compared to the third-quarter peak.
Sun Country Airlines' Q3 cargo revenue from Amazon flying stays flat Cargo revenues from Sun Country Airlines' Amazon business were flat in the third quarter.
Commentary: Supply chain pro-turned-candidate Mike Erickson's misguided blame game Most politicians are clueless about supply chains, so it's a shame when industry veteran Mike Erickson runs for Congress and pins inflation on ocean carriers.
How hurricane in 1900 forever changed the Texas shipping industry At the turn of the 20th century, Galveston, Texas, was a powerhouse in the maritime shipping industry and one of the wealthiest cities in the country.
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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