Samir J. Shah elected Vice Chairman of Customs Affairs Institute - FIATA
Baltic Exchange Market Report (2 December 2022)
Improvements in SWIFT: Integration of ICEGATE with AQCS-ICS (Animal Quarantine and Certification Services-Import Clearance System) effective 01.12.2022
Schedule reliability continues upwards trend
Indian student part of winning team at DP World's inaugural Big Tech Project competition
Hapag-Lloyd receives DNV Excellence 5 Star Award for continuous compliance
RCL's net profit surges in first nine months
The legal effect of the unknown clauses in a Bill of Lading under the international rules
Revised rate for fuel surcharge on pilotage at Gangavaram
New FTA commitments may hamper future exports: Report
Sugar production seen lower
CMA CGM Group receives award for commitment to sustainable development
Frank Collins named SCA senior defense advisor The Shipbuilders Council of America (SCA) has named Frank Collins as senior defense advisor, overseeing the organization's national ship repair and security, as well as industry workforce development and education, initiatives.. Collins
Cat to support Wilson Sons on decarbonization Caterpillar has signed an MOU that will see it support Brazil's Wilson Sons with the adoption of tugboat and offshore vessel powertrain technologies and services that enable the fulfillment of emissions reduction
FMC unveils interim process for handling shipper complaints The Federal Maritime Commission (FMC) has introduced interim procedures to review, investigate, and adjudicate charge complaints filed by shippers to challenge carrier charges. It notes that since the enactment of the Ocean
Seafarers saved after cargo ship sinks in rough weather Thirteen seafarers were rescued after they jumped into the sea on the afternoon of 30 November, after a 2008-built general cargo ship, Yu Sheng 788, began sinking amid strong wind and rough waters off Ningbo, China. Yu Sheng 788 was carrying some containers from Xiamen to Shantou, both within China. The crew had sent out a distress message, saying that the Yu Sheng 788 cabin was flooded, before a
Alphaliner forecasts profit shocks for carriers in fourth quarter After riding a windfall of profits over the past few quarters, container carriers are heading towards a steep fall in earnings in the fourth quarter, according to the latest report by Alphaliner. The market analysis has noted that carriers could see their Q4 profits tumble by as much as 70%, compared with the previous quarter's results. "Indications for the remaining months of the year show carri
Port of Valencia approves new container terminal project The board of directors of the Port Authority of Valencia (PAV) has approved the construction Project for the container quay of the north extension of the Spanish port, with a base budget of more than US$570 million of public investment. MSC's port subsidiary, Terminal Investment Limited (TIL) will add over US$1 billion to the budget and will be responsible for the construction and operation, unde
Nokia to deploy private wireless network at major container terminal in Chile Nokia announced that it will deploy the first industrial-grade long-term evolution (LTE) private network in a port terminal in Chile, at San Antonio Terminal Internacional (STI). The new private wireless network will be based on the Nokia Digital Automation Cloud (DAC) platform and will use 4.9G LTE to deliver pervasive high-bandwidth, low-latency connectivity, and improved network predictability
Box carriers improve schedule reliability score According to the analysis by Sea-Intelligence, global schedule reliability of container carriers improved by 6.6% month-to-month in October 2022, reaching 52%. Source: Sea-Intelligence.com, GLP Report, issue 135 Source: Sea-Intelligence.com, GLP Report, issue 135 The average delay for late vessel arrivals has also been improving consistently since the start of the year, according to the report of
New port in Tibar Bay launches activities Timor-Leste, a Southeast Asian country, inaugurated the new deepwater port of Tibar Bay, a new maritime gateway to the Asia-Pacific region. H.E. Dr José Ramos Horta, the president of the Republic of Timor Leste officially inaugurated the Tibar Bay Deepwater Port on 30 November 2022, in the presence of Philippe Labonne, CEO of Bolloré Ports, the Prime Minister of Timor-Leste H.E General Taur Matan
TotalEnergies comes onboard ammonia-powered tanker project French energy major TotalEnergies has become the eighth member of the Castor Initiative, a multinational coalition of shipping industry players committed to the development and construction of ammonia-powered tankers. The coalition, founded in 2020 by Malaysia's top shipping line MISC, South Korean shipbuilder Samsung Heavy Industries, and class society Lloyd's Register, also includes German engi
DOF starts reconstruction process in court Financially-troubled Norwegian offshore vessel owner and operator DOF is filing a petition for reconstruction proceedings with the Hordaland district court after failing to secure approval for a debt restructuring plan. The restructuring scheme, which involved the conversion of debt into shares was backed by the company's creditors, bondholders and DOF's largest shareholder Helge Møgster. However
Norway targets 10% of offshore wind market share Norway is looking to bolster its offshore wind industry with an ambitious target of taking 10% of the global market share by 2030. The country aims to increase Norwegian exports other than oil and gas by 50% by 2030, and at the same time cut overall greenhouse gas emissions by at least 55%. As part ...
Control of FESCO up for grabs following jail sentence of its largest shareholder Following a four-year court battle, Ziyavudin Magomedov was sentenced to 19 years in jail yesterday over corruption charges. His leading 32.5% stake in FESCO, Russia's largest private maritime logistics operator, will now be put up for sale. Among likely suitors for control of FESCO, and its unique transport footprint in Russia's Far East, are likely ...
Aker Solutions eyes $4.6bn worth of contracts Norwegian engineering firm Aker Solutions is looking at about NOK45bn ($4.6bn) in new contracts following Aker BP board's decision to approve field development projects offshore Norway. Aker BP said Friday that it had decided to vote for the final approval of the Noaka field development project, the Valhall PWP-Fenris project, the Skarv Satellite project and ...
NYK seals investment in Pertamina International Shipping Japan's Nippon Yusen Kaisha (NYK) has concluded an investment agreement and a strategic alliance agreement with Pertamina International Shipping (PIS), a shipping subsidiary of Indonesian state-run energy giant Pertamina. Specific details of the size of the investment have not been revealed. A signing ceremony was held in Tokyo yesterday bringing the two Asian shipping giants ...
Rejig of the Concordia Maritime fleet continues Concordia Maritime will continue to rejig its fleet as it claws its way back to financial stability. This week, sold product tanker Stena Primorsk was delivered to its new owner. Two other recently sold vessels are expected to be delivered at the end of 2022 and the beginning of 2023, respectively. After the sale of ...
US Congress approves bill to prevent rail strike Since Monday, when President Biden asked Congress to intervene to prevent a rail strike that he warned "would devastate our economy," the US House of Representatives and now the Senate have passed a bill to force the four of 12 unions that did not ratify their tentative agreements with the major US freight railroads to ...
US FMC announces interim procedures for processing charge complaints The US Federal Maritime Commission (FMC) yesterday announced its interim procedures to review, investigate and adjudicate charge complaints. The FMC said in a release that US shippers have responded positively to the new opportunity, established via the Ocean Shipping Reform Act of 2022, to challenge carrier charges by filing charge complaints at the FMC. Since ...
The top 10 maritime media personalities of 2022 Tis the season for year-end polls and lists. Santosh Patil has his own take. The season of Top 10 this and that in maritime and in other industries is finally here as we come close to the year end. Such lists are quite popular worldwide especially in the western culture where these are often used ...
FMC announces interim complaint procedure amid swelling caseload The US regulator says shippers have increasingly been challenging the detention and demurrage charges levied by ocean carriers
China-based P&I club allowing sanctioned oil cargoes into ports Insurers are key to the effectiveness of the European and G7 embargo on Russian seaborne crude that begins on December...
Don't look for CII workarounds - just make it work If matters degenerate into a crazy free-for-all where each shipowner does the best for themselves individually, the industry seems collectively...
The Lloyd's List Podcast: The challenges shaping shipping according to MSC chief Søren Toft This week's edition of the podcast features a very special guest; Søren Toft, chief executive of Mediterranean Shipping Co, the...
Green rules must be more than a tax on shipping, says Toft As the operator of the world's largest fleet of containerships, MSC has invested heavily in new and secondhand tonnage. But...
MSC's Toft says 2M alliance is safe for now The 2M alliance between Maersk and MSC still has two years to run. Even with a larger fleet, it still...
Marine insurance claims picture 'extraordinarily' benign, says IUMI Last year characterised by tentative recovery in global trade, rise in absolute premium volumes, and improved loss ratios across all...
West makes senior promotions to strengthen Asia business Move designed to strengthen two of club's key Asia offices
TotalEnergies joins ammonia-powered tanker project An initiative launched in 2020 wants to accelerate the path toward safe zero-emission shipping in the middle of this decade
OSM in merger talks with Thome, say sources Deal could potentially create the world's largest shipmanager by fleet size under total management
Iranian tanker at centre of Greek hostage standoff unloads cargo in Syria Aframax tanker Lana was seized off the coast of Piraeus at the behest of the US. The vessel was said...
Congress passes bill to block US rail shutdown Both chambers of Congress have passed a bill to impose the White House-brokered tentative agreement on labour unions and railroad...
Tanker safety group opens new office in Singapore 'The International Tanker Owners' Pollution Federation has a long history of operating in the region and we are pleased to...
Daily Briefing Lloyd's List annual Top 100 finds shipping struggling with transition | Bosporus Strait queues worse than past year | Car...
Ocean Alliance upsizes trans-Atlantic route amid rate strength Ocean Alliance members are shifting post-Panamax ships away from the trans-Pacific and Asia-Europe trades to the trans-Atlantic amid buoyant demand and rates.
Transportation hiring surge falls short in November Hiring expectations fell short across many transportation sectors in November, with real trucking employment dropping while warehousing firms and couriers added workers.
Bipartisan Senate vote ends threat of US rail strike The Senate measure ends the threat of a country-wide rail strike that could have begun Dec. 9, crippling cargo movement in the midst of the holiday season.
Carriers continue calling South Korea's Busan as truckers strike drags on South Korea's government took the unprecedented step of ordering some of the striking truckers back to work Tuesday, although strike organizer Cargo Solidarity said it would defy the order.
Trailer makers boosting production as orders soar Stubbornly strong industrial output and pent-up demand are expected to keep pressure on trailer manufacturers to increase supply, even during a US economic slowdown.
No seasonal uplift as air cargo market deteriorates further Dismal November air cargo data has all but assured a weak end to 2022 with no sign of a seasonal uplift in demand or rate levels from an oversupplied market.
ONE the latest to open India-Middle East string amid trade boost signals An economic partnership agreement signed earlier this year between India and the United Arab Emirates is driving new trade opportunities, prompting ocean carriers to boost service between the two countries.
Turbo-charged logistics tech faces reckoning: analyst The unprecedented infusion of cash into supply chain technology development over the past two years was akin to putting the sector on a diet of steroids, writes JOC analyst Lars Jensen.
VLCC rates continue cratering as smaller tankers find 'stability' Largest have fallen by more than half from their year-to-date high of nearly $75,400 per day on 21 November
Hansen resurfaces at Maersk Tankers in partnerships role After leaving ZeroNorth, the industry veteran announces new job at the tanker pool operator
Norwegian offshore owner DOF goes to court in $2bn reconstruction bid to save company Petition to be made as offshore vessel owner stresses there is no other option
Nordea and SEB to provide $208m to finance TMI's Grindrod takeover Law firm reveals term loan backed by security over stock and vessels
Cosco Energy Shipping in fresh Iranian oil controversy Chinese state giant launched inquiry after being alerted to STS transfer from ship allegedly carrying Iranian oil
'AIS improves visibility, even when ships go dark,' says MarineTraffic Sanctions stretch AIS vessel tracking to its limits, but MarineTraffic 'reports what it sees' as it celebrates 15 years in the game
Lila Global considers spot market to be its playing field Dubai-based shipowner hopes its tankers will soon join its bulk carriers in the spot market
This is Big Brother: How the 'dark' fleet is being tracked from space The satellite boom gives investigators new ammunition in the battle against dark fleets
Norwegian offshore shipowner DOF goes to court in $2bn reconstruction bid to save the company Petition to be made as offshore vessel owner stresses there is no other option
Russia seizes $471m Fesco stake as billionaire Magomedov jailed Moscow court hands over 32.5% slice of container ship owner to the state in long-running embezzlement case
Greece's Meadway Shipping inks deal for eco bulk carrier at Tsuneishi The eco design vessel is said to cost the Greek shipowner around $38m
$60 oil price cap deal could still 'penalise' Russia Outline agreement puts cap at the upper end of negotiations as G7 seeks to keep crude oil flowing after EU import ban on Monday
Singapore says windfall tax could curtail investment in greener fuels Such arbitrary measures will send the wrong signal to businesses, says minister
Shipping takes centre stage at Athens LNG industry meet A prime-time speaking slot, a new award - the gods were smiling - but the energy crisis dominated all talk
Frontline says charterers fear missing out against 'ridiculous' newbuilding backdrop Lars Barstad says charter activity is hectic as the relationship between orderbook and ageing fleet does not make sense
'Honoured': Sophia Mullen made EnTrust Global's first president 10-year company veteran promoted to new role at shipowner and financier
Chinese automaker BYD inks four ultra-large car carriers as market surges CMHI Jinling and CMHI-Jiangsu were each contracted to build two LNG dual-fuel 9,400-ceu vessels
Castor turns to Asia to fund container ship acquisitions Cypriot owner draws on $22.5m loan to fund addition of two sub-panamaxes
Lila Global uses cash buyer model to finance fleet acquisitions Shipowner pays in cash and employs a bottom-up approach to evaluating ships, which it claims has impressed banks
Hundreds of 'unknown' owners take control of tankers European registries report exodus as owners seek ways to continue moving Russian volumes
Singapore says windfall tax could curtail investment in greener fuels Such arbitrary measures will send the wrong signal to businesses and discourage them from investing in country, says minister
Shell and Alfa Laval to develop boil-off-gas unit for liquid hydrogen carriers Design challenges said to be significantly greater than those involved with LNG
Container shipping rates still sinking, no sign yet of market floor Spot shipping rates continue their historic slide, putting even more pressure on container lines' contract business.
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