New York Cruise Lines plans to operate first zero-emissions electric ferry in NYC New York Cruise Lines and Sweden's Green City Ferries AB (GCF) today announced a collaboration to launch the first high-speed zero-emissions electric ferry to operate in the New York Harbor. With a
Third company fined in U.S. ECA sulfur case A U.S. Caribbean ECA offense that saw two companies hit with fines of $3 million back in 2019 has now brought a third company a criminal fine of $250,000. Ionian Management Inc.,
Bayonne Dry Dock joins Green Marine Bayonne Dry Dock & Repair Corp. has become the newest participant in Green Marine, the comprehensive voluntary environmental certification program for North America's maritime industry. Situated just miles from the Verrazan-Narrows Bridge,
No sustainable trend registered in global bunker market so far According to the weekly outlook of Marine Bunker Exchange (MABUX) for fuel prices, global indices have not shown a sustainable trend. The 380HSFO index rose to US$496.92/MT, the VLSFO index, in turn, declined to US$785.00/MT and the MGO index dropped to US$1,160.77/MT. Therefore, during the week, no significant changes in the indicators were recorded, according to MABUX analysts. Meanwhile, the G
CMA CGM implements new peak season surcharge from Canada East Coast to Africa The Marseille-based container shipping company CMA CGM has announced a new peak season surcharge (PSS) from Canada to three countries in Africa. In particular, the fresh surcharge will apply from the Canada East Coast to Angola, Congo and Gabon and will be effective from 15 November. The PSS will apply only to refrigerated cargo and will be US$400 per container. The post appeared first on Contai
New terminal operator at port of Gothenburg, while box volumes rise in 2022 Freight volumes at the port of Gothenburg in Sweden continue to grow in all segments except for the vehicle sector, which continues to be negatively affected in the third quarter of the year. "We see a continuation of the upward trend that began in connection with the pandemic. Product owners are attracted to the major freight hubs, which is very clear at the Port of Gothenburg," commented Elvir
OOCL to link India, Middle East and East Africa with new service Orient Overseas Container Line (OOCL) will add a new service, East Africa Express 5 (EAX5), to its Asia - Africa network. The port rotation of the new product will be Nhava Sheva (India) - Mundra (India) - Jebel Ali (United Arab Emirates) - Abu Dhabi (United Arab Emirates) - Mombasa (Kenya) - Dar Es Salaam (Tanzania) - Nhava Sheva. OOCL's East Africa Express 5 port rotation map COSCO-owned contai
Maersk and Spanish Government partner on large-scale green fuels production A.P. Moller - Maersk and the Spanish Government have signed a General Protocol for Collaboration to explore opportunities for large-scale green fuels production in Spain. If the cooperation of the two parties goes full scale, it could deliver up to two million tons of green fuel annually. The project aims to explore the feasibility on how to cover the full value chain from renewable energy source
ONE introduces new Singapore - Philippines feeder service Singaporean container line Ocean Network Express (ONE) has announced its new weekly service, named Philippines Express 2 (PHX2). The new weekly service will be operated by two 1,000 TEU boxships and will have the following port rotation: Singapore - Manila North (Philippines) - Davao (Philippines) - Singapore ONE aims to complement its current service of Philippines Express (PHX) and further enha
AD Ports Group buys 80% stake in Global Feeder Shipping AD Ports Group has signed an agreement to acquire an 80% equity stake in Dubai-based Global Feeder Shipping (GFS) for US$800 million. GFS has built a large container vessel fleet, featuring 26 owned and operated vessels with a total capacity of 72,500 TEUs, covering the Middle East, Indian Subcontinent and Southeast Asia with services connecting the UAE to India, Pakistan, Sri Lanka, Egypt, Sudan
Matson invests US$1 billion in three new container ships Hawaii-headquartered shipping company Matson has ordered three new 3,600 TEU container vessels at Philly Shipyards, via its subsidiary carrier, Matson Navigation Company. Matson and US-based Philly Shipyards signed a contract, according to which the cost for the three Aloha Class container ships will be US$1 billion. The first vessel is expected to be delivered in the fourth quarter of 2026 with
Non-alliance carriers tripled market share in Transpacific during record rate period Non-alliance container carriers managed to triple their market share from around 5% to around 15% during the peak of the Transpacific market in the last two years, according to the latest analysis of Sea-Intelligence. This trend could result from the fact that market conditions were very favourable to carriers from the second half of 2020 until the first half of the current year. "There was exces
Maersk moves to establish large-scale green methanol production in Spain A.P. Moller - Maersk is looking to produce up to 2m tonnes of green methanol a year in Spain by 2030 to supply fuel for its containerships and slash its carbon footprint. The world's second-largest liner has agreed with the Spanish government to explore the opportunities for large-scale plants in the ports of Andalusia and ...
RightShip to cover EEXI values in GHG rating Digital maritime platform RightShip is updating its greenhouse gas (GHG) rating tool to incorporate Energy Efficiency Existing Ship Index (EEXI) values from the first quarter of next year. The changes being introduced will make its GHG rating the industry's first rating to include the EEXI, the Existing Vessel Design Index (EVDI) and the Energy Efficiency ...
SFL picks up car carrier with long-term charter attached John Fredriksen's SFL Corporation has struck a deal to buy a pure car truck carrier that comes attached with a long-term time charter to a leading operator until 2028. The vessel should deliver during the fourth quarter. The New York-listed firm has not disclosed any further details about the purchase. The deal is expected to ...
Odfjell buys back five and charters in four Norwegian chemical tanker operator Odfjell has exercised the option to buy back five vessels on lease and chartered in four currently under construction. The Bergen-based shipowner did not say which ships will add back to its owned fleet. The current fleet list shows 19 ships leased (one of which pictured) and 27 owned. The vessels ...
Petrofac North Sea workers back strike action as pay dispute escalates Nearly 150 UK North Sea workers employed by energy services company Petrofac have voted to strike in an escalating dispute over pay. The industrial action will start on November 16 with a continuous overtime ban and 48-hour stoppage. The Unite trade union said any action will have a major impact on the maintenance and running ...
MSC warns of higher shipping costs in EU's carbon trading scheme Mediterranean Shipping Company (MSC) has warned clients of higher costs with the inclusion of shipping in the EU's carbon trading market. The EU emissions trading system (ETS), part of the "Fit for 55 package" to reduce greenhouse gas emissions by at least 55% by 2030 compared to 1990 levels, requires companies to surrender allowances that ...
Maersk Supply Service scores ExxonMobil charter in Guyana Denmark-based Maersk Supply Service (MSS) has signed a contract with ExxonMobil for the subsea support vessel (SSV) to support field development activities offshore Guyana. The 2009-built vessel will be operating with two remotely operated vehicles onboard, providing general and subsea support scopes for ExxonMobil's six ultra-deepwater drillships currently operating offshore Guyana in the Stabro
Gulf Marine Services seals new deals for liftboat trio Gulf Marine Services (GMS) has landed new and improved deals with undisclosed clients for three of its vessels. The UAE-based liftboat operator has secured new contracts for one of its smaller (K-class) and one of its larger (E-class) vessels, while an extension has been obtained for a mid-tier ship. The London-listed firm, with a fleet ...
IFCHOR and Galbraiths to merge Two broking powerhouses are joining forces. Swiss-headquartered IFCHOR is merging with London tanker specialists Galbraiths in the latest chapter of broker consolidation. IFCHOR-Galbraiths has over 300 employees and comprises a network of 20 offices around the world. "This merger plays to both companies' strengths. Galbraiths is well known for its tanker and S&P services whilst ...
Euronav and Frontline merger saga to drag on into 2023 The proposed merger between European tanker giants Euronav and John Fredriksen-led Frontline has been delayed to next year. In a quarterly earnings update today, Antwerp-headquartered Euronav said that the merger - already approved by both companies' boards - is a "complex transaction" requiring a number of regulatory approvals from various authorities, hence the announcement to ...
Norway offloads half of its stake in Aker Solutions The Norwegian state, represented by the Norwegian Ministry of Trade, Industry and Fisheries, has sold half of its stake in offshore engineering firm Aker Solutions through a private placement for NOK905.5m ($86.5m). The state sold 30.09m shares, corresponding to a 6.11% stake in Aker Solutions, at NOK39.30 per share, a discount of some 10.6% compared ...
AD Ports splurges $800m to take over Global Feeder Shipping AD Ports Group has made its largest ship investment to date, spending $800m to take an 80% stake in Dubai-based Global Feeder Shipping (GFS), creating a feeder giant in the process. GFS has 26 owned and operated vessels with a total capacity of 72,500 teu, covering the Middle East, Indian Subcontinent and Southeast Asia with ...
Seadrill-Sonangol JV seals $327m drillship deal in Angola Offshore driller Seadrill has secured a new drillship extension through Sonadrill, the company's joint venture with an affiliate of Sonangol, for twelve wells in Angola at $402,500 per day. The 2019-built will execute the contract for an undisclosed client estimated to be worth around $327m. The contract starts in the fourth quarter of 2022, with ...
Siem Offshore awarded PSV contract by BP Canada Norway's Siem Offshore has won a contract from BP Canada for its large platform supply vessel . The contract will start in the second quarter of 2023 and is expected to keep the 5,500 dwt dual-fuel ship utilised for four to six months. The Siem Symphony was the first ship in the company's fleet fitted ...
NYK, K Line, MISC and China LNG order more Qatar-bound gas ships A quartet of Asian shipping powerhouses have won the next tranche of business in the huge QatarEnergy fleet expansion project. A consortium comprising Nippon Yusen Kaisha (NYK) and Kawasaki Kisen Kaisha (K Line) from Japan, Malaysia's MISC and China LNG Shipping, the Cosco/China Merchants joint venture, have ordered five 174,000 cu m LNG carriers at ...
New boss announced at Barber Ship Management Barber Ship Management has appointed Roine Ahlquist as its new CEO. The tanker focused manager is owned by Wilhelmsen Ship Management (WSM) and MPC Capital. With over 25 years of maritime experience, Ahlquist has held a variety of executive and senior leadership roles in shipping and real estate. He was the owner and founder of ...
Matson spends $1bn on three 3,600 teu Philly newbuilds Aker-controlled Philly Shipyard has won a $1bn order from Matson Navigation Company to build three LNG-fuelled 3,600 teu ships. The ships, which work out at roughly seven times the price offered in Asia, will deliver in 2026 and 2027 and will be able to operate at speeds in excess of 23 knots. "Winning this order ...
WiseTech Global buys Shipamax Australia's WiseTech Global, a developer of logistics execution software CargoWise, has bought Shipamax, a data entry automation software firm. Founded in 2016 and headquartered in the UK, the Shipamax platform focuses on document data extraction and automating the full operational workflow. Shipamax uses AI and machine learning to convert unstructured data such as PDF and ...
Singapore's first dedicated methanol bunkering ship slated for the end of next year Global Energy Trading and Stellar Ship Management Services, wholly owned subsidiaries of Global Energy Group, have contracted Japan's Sasaki Shipbuilding to build a 4,000 dwt tanker, which will become the first dedicated methanol bunkering ship in Singapore, the world's largest bunkering hub, when it delivers at the end of next year. Loh Hong Leong, group ...
Longshore workers walk off the job at Port of Oakland Longshoremen at the Port of Oakland in California walked off the job on Wednesday morning, aiming to push the two sides in the ongoing contract negotiations to get back to the bargaining table. The International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA), which represents the port employers, began negotiations in May, ...
Port Houston to implement container dwell fee to improve cargo fluidity Effective December 1, Port Houston will implement a "sustained import dwell fee" to incentivise cargo movement at the Barbours Cut Terminal and Bayport Container Terminal. Long-dwelling loaded import containers have been contributing to congestion at the terminals and a shortage of chassis. The fee will be assessed directly to BCOs on the eighth day after ...
Euronav upgrades forecast for multiyear upcycle for tankers Growing tonne miles thanks to Russian crude transportation dislocation, alongside energy switching and crude supply growth reinforced by non-Opec barrels...
Ukraine war risk rates stable, but may be heading upwards Concern is focusing on the deadline to renew the grain corridor scheme. Some underwriters are worried that Russian dissatisfaction with...
Teekay positive on tanker outlook despite macro concerns Firm rates are expected to continue despite concerns over the uncertain macroeconomic environment
Britannia reports double-digit jump in premium target Market mutual sits at fourth place in the ranking of International Group affiliates by market share, with almost 10% of...
Wallenius Wilhelmsen profit boosted by vehicle carrier super-cycle Wallenius Wilhelmsen expects the supply-demand balance for the vehicle carrier sector to remain favourable for next year
Singapore bunker supplier orders first methanol bunkering vessel Singapore-based bunkering company will be able to include biofuel and methanol in its range of marine fuels by 2024
Norden expects headwinds in dry bulk market A slowing world economy poses downside risks to dry bulk rates despite expectations of a revival in Chinese trade levels...
Euronav-Frontline combination on track despite minor delay Complexity of tanker merger is highlighted as multiple regulatory approvals weigh on the deal, which has already faced strong opposition...
Galbraith's and Ifchor announce merger Deal expected to complete in next few weeks, leading to creations of top five global shipbroker
China warns US not to 'meddle' in Hamburg port deal Remarks come a day before German Chancellor Olaf Scholz, who recently gave the nod to Cosco's acquisition of a minority...
AD Ports buys $800m stake in Dubai boxship feeder operator AD Ports Group plans to integrate Global Feeder Services with its existing containership operating subsidiary Safeen Feeders
DNV targets China's growing gas and dual-fuel markets The new DNV team is targeted at two thriving markets in China - large gas carriers and alternative-fuel newbuildings
DP World agrees Shanghai free trade deal The free trade zone, known as Lingang special area in Shanghai, will also promote the DP World-backed World Logistics Passport...
MISC-led group wins five more QatarEnergy LNG carrier contracts Group includes NYK, K Line, China LNG Shipping and MISC
Pacific Gas firms up $540m ethane carrier order at Jiangnan Chinese lessors join deal to provide finance for the dual-fuel newbuildings equipped with type-B cargo tanks
Daily Briefing War risk and cargo cover for Ukraine back after Russia resumes grain deal | Maersk's transformation wins over customers |...
Maersk, CMA CGM join $80 million funding round into project44 The investment by Maersk and CMA CGM into visibility provider project44 is notable as they continue to develop their end-to-end integrator strategies and prepare for more stringent environmental regulations.
Weakening freight demand puts C.H. Robinson, Werner in cost-control mode Two of the United States' biggest logistics providers say they are focused on controlling costs amid growing concern about the direction of the US economy.
US 3PL Echo extends global forwarding reach The acquisition of Fastmore Logistics will give Echo Global Logistics more access to international freight forwarders, linking domestic and international cargo networks.
Matson CEO expects more capacity cuts from large trans-Pac carriers Matson's CEO expects to see even more capacity reductions and schedule changes in the next two quarters to meet lower consumer demand in the expedited market, especially as air cargo and conventional ocean market rates continue to fall.
Mason CEO expects more capacity cuts from large trans-Pac carriers Matson's CEO expects to see even more capacity reductions and schedule changes in the next two quarters to meet lower consumer demand in the expedited market, especially as air cargo and conventional ocean market rates continue to fall.
Guangzhou Port Co., Ltd. to invest in the construction and operation of the International General Terminal Project in Nansha Port Area of Guangzhou Port Group Recently, Guangzhou Port Co., Ltd. issued an announcement on the establishment of a wholly-owned subsidiary to invest in the construction and operation of the International General Terminal Project in Nansha Port Area of Guangzhou Port Group.
STB, FMC increasingly active in pursuing statutory mandates Paul Revere's midnight ride to warn the colonial militia of the impending British military action was facilitated by the sexton of Boston's North Church using a lantern signal. In 1861, Henry Wadsworth Longfellow memorialized the event in his famous poem: "One, if by land, and two, if by sea;
More capacity cuts ahead in trans-Pacific: Matson CEO Matson's CEO expects to see even more capacity reductions and schedule changes in the next two quarters to meet lower consumer demand in the expedited market, especially as air cargo and conventional ocean market rates continue to fall.
Unraveling 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.
MSC to pass on costs of complying with Europe's emissions trading system Carriers are trying to work out the additional costs per container of complying with Europe's ETS, but there is little clarity over how the rule will be applied with less than eight weeks to go before implementation.
Eagle Bulk logs 46% BSI premium while buying back $10m in converts Numbers cool slightly from second quarter and year ago, but Connecticut owner still solidly profitable
OSG flips to profit as American Shipping Co trio set to leave fleet Florida tanker owner back in the black with a $13.2m profit for the third quarter
Reletting LNG carriers helped Cheniere reach earnings guidance goals US liquefaction giant claims to be world's second largest charterer with big portfolio locked in at rates below six figures
Balance sheet-focused Teekay Tankers won't take the bait on dividend question Vancouver owner refusing to join competitors in shareholder payouts as market strengthens
Matson readies for container shipping market to come back down to earth Hawaiian liner operator already cut capacity as third quarter earnings dip
Green Seas podcast: Hear how offshore wind is creating a new gold rush in California The first podcast edition of Green Seas explores the 'huge opportunity' emerging off the coast of the Golden State.
Royal Caribbean makes a profit after years of pandemic losses New York-listed owner beats Wall Street consensus but is still nearly $20bn in debt
Shipowners' Club bucks the trend on P&I general increase at renewal Specialised P&I club says it will keep rates as they are
'A clear need': Braemar unveils new 10-strong natural gas desk UK shipbroker continues to build on securities offering with team led by Marc Jarvis
Donald steps down from Carnival board after two decades of leadership Former CEO bids farewell after 21 years with cruise giant
Streetwise: Who are the real winners in the Grindrod Shipping sweepstakes? Only the market knows Will history see a coup for Taylor Maritime Investments or wise discretion by the US rivals who backed away from the deal? Our finance newsletter explores
Cheniere Energy exported 70% of its 2022-produced LNG cargoes to Europe Largest US LNG producer nears completion of a third marine berth at its Sabine Pass LNG plant
Charterers try to limit tanker term lengths as owners get bigger rate ideas Concordia Maritime argues that positive MR sentiment is pushing up period earnings
SFL Corp sticks to diversity agenda with car carrier buy Over the past three months, John Fredriksen company has bought vessels in most ship types it is active in
Glencore unit told to pay $315m for widespread corruption Multinational remains under investigation by Swiss and Dutch authorities over failure to prevent corruption
Euronav has warning for owners looking to convert boxship options into tanker newbuilds Hugo De Stoop believes companies face a long wait to get any new ships delivered
London lawyer asks industry to back change on wrongful arrests Lawyers are blocking legal reform on an important subject - the wrongful arrest of ships - and now the broader industry needs to take charge
Majority shareholders agree $10.9bn take-private deal for Seaspan Corp parent Atlas Corp World's largest boxship tonnage provider accepts offer from key backers and Japan's ONE
London lawyers ask industry to back change on wrongful arrests Lawyers are blocking legal reform on an important subject - the wrongful arrest of ships - and now the broader industry needs to take charge
Teco 2030 and Shell receive €5m for tanker hydrogen-retrofit project Norwegian tech company leading group aiming to demonstrate system on Swedish vessel in 2024
Spot exposure pays off for Teekay Tankers as rates hit 14-year highs Suezmax and aframax specialist continues to use strong cash flow to strengthen balance sheet
AD Ports creates liner giant with $800m takeover of Global Feeder Shipping Expanding Abu Dhabi group follows recent tanker, container ship and offshore vessel deals with biggest transaction yet
Norden pays upsized dividend after surge in product tanker rates Owner-operator beat estimates and has begun another share buyback programme
Attacker missing after seafarer stabbed on Vitol MR tanker Brawl reported on clean product carrier off New Caledonia
CoolCo wraps up fast fundraising adding LNG carrier quartet to growing fleet Equity raising exercise closed overnight amid hot demand from investors
Hong Kong aframax arrested in Spain with cargo of Russian crude The Linda I is alleged to have drifted close to the coast after stopping for spare parts
KCC's combi ships capitalise on strong product market in record quarter Cleanbu carriers traded 70% of days in tanker markets as rates rose
New shipbroking giant emerges as Galbraiths and Ifchor unveil merger Famous names prepare to create 300-strong international shop with intention to grow into gas, offshore, renewables and environmental transition services
New Ifchor-Galbraiths shop set to rank among top five shipbrokers globally Merger spark lit over dinner in Geneva after introductions from mutual friend
Fuel-switching providing a boost for tankers as Euronav returns to profit Belgian owner also believes China has yet to be a real factor in rate recovery
Euronav says 'complex' Frontline mega-merger pushed back into 2023 Tanker giants making good progress on combination but still have many stages to work through
Thunderbird 3 is go: Remote-controlled hull cleaning vessel to hit the water Fleet Cleaner expanding fleet as it moves into remote operations from Delft-based control centre
Zodiac Maritime brings in experienced ING banker Byrne as head of ship finance London-based shipowner recruits 25-year banking veteran to replace Malte Schulte-Trux
QatarEnergy awards five more LNG carrier contracts to consortium of Asian gas heavyweights China gains a greater slice of giant LNG project as newbuilding contracts are awarded to Hudong-Zhongua Shipbuilding
Global Energy Group orders first methanol bunkering tanker for Singapore Japanese newbuilding could pave the way to a new generation of versatile bunkering tankers
Odfjell to buy back five ships and charter four more newbuildings Norwegian chemical tanker owner says it expects to see a strong chemical tanker cycle over the next three years
Gulf Navigation Holdings is looking for MR and LR tankers Ready for fleet expansion, Dubai-based tanker operator wants to stay within the markets it knows
Back from the brink, Gulf Navigation Holdings eyes up fleet growth Dubai shipowner is looking to expand after successful restructuring
Thai yard goes high-tech with America's Cup inspired wind farm ship design Shipbuilder says design will be game-changing and particularly operationally effective in the Southeast Asian market
CoolCo to boost fleet with up to six LNG carriers from parent Eastern Pacific Emerging shipowning venture to pay out $660m for quartet and raise cash to partially fund the buy from a private placement
Teekay Corp finance chief Vince Lok set to retire after 30 years at tanker giant Lok to stay on as advisor until end of 2023 as Brody Speers gears up to take over his duties
Crude tanker owners see dollar signs as Russia ban draws near Europe must replace all seaborne crude imports from Russia within the next few weeks. Crude tanker owners stand to gain.
Cargojet upbeat about 2023 as e-commerce business shows resilience Cargojet is better protected from an economic downturn than airlines handling general air cargo because of e-commerce and deep partnerships.
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