MARAD awards Marine Highways grants to 12 projects The U.S. Department of Transportation's Maritime Administration (MARAD) today awarded nearly $39 million in grants to 12 marine highway projects across the nation under the America's Marine Highway Program (AMHP). The funding
FRS plans to add seagliders to its ferry fleet Massachusetts-based start-up REGENT (Regional Electric Ground Effect Nautical Transport) has added worldwide ferry operator FRS to the list of customers planning to add its revolutionary seaglider all-electric wing in ground (WIG) vessels
Navy opens Additive Manufacturing Center of Excellence While the Navy is not about to 3D print out its next generation submarines, additive manufacturing technology has now advanced to a stage where it promises to play a key role in
Learn how digitalization can help you increase ship efficiency today and get ready for 2030! How Digital Ship Life Cycle Management Pays OffLearn how adopting an integrated approach to ship lifecycle management enables shipbuilders, marine suppliers and ship owners/operators to maximize productivity by bringing together all product
All American Marine books tour boat order All American Marine (AAM) has been awarded a contract to build a high-speed and long-range 150-passenger eco-tour vessel for Anchorage, Alaska-based Phillips Cruises and Tours. The 84 foot 5 inch long by
Volvo Penta, CMB.TECH partner on dual-fuel hydrogen engines Volvo Penta is partnering with CMB.TECH, the clean tech division of Compagnie Maritime Belge, to accelerate the development of dual-fuel hydrogen-powered solutions for both on land and at sea applications. The companies
Canada's Verreault Shipyard has a new owner Québec Clty headquartered Ocean Group Inc. has acquired Verreault Shipyard, located in the municipality of Les Méchins, Québec, in the Gaspé Peninsula. The yard's facilities include a 244 meter long by 26
Op-Ed: The importance of data standardization By Eric Christofferson, Chief Product Officer at Veson In today's digital-first world, no industry is exempt from the reality of digital transformation. In recent years, the amount of data generated by the
Corps awards contracts worth $228 million September ended on a good note for dredging and marine construction companies. On the last day of the month, the U.S. Army Corps of Engineers announced the award of contracts in that
MABUX reports upward trend in bunker indices Over Week 40, Marine Bunker Exchange (MABUX) global bunker indices turned to upward evolution with the 380 HSFO index increasing last week to US$502.55/mt, the VLSFO index rising to US$786.38/mt and the MGO index growing to US$1,144.10/mt. Meanwhile, the Global Scrubber Spread (SS) weekly average, the price differential between 380 HSFO and VLSFO, increased over the last week by US$6.98 to US$265
Maersk's Performance Team deploys first Volvo electric trucks in Southern California Maersk-owned Performance Team has deployed its first Class 8 battery-electric trucks from Volvo Trucks North America in Southern California in response to customer demand for sustainable short-haul warehouse and distribution center operations. The Volvo VNR Electric trucks are designed to handle local and regional distribution with a range of up to 275 miles on a single charge. Performance Team e
Drewry's WCI loses three-fourth of pandemic gains despite record high US-Europe rates The losses for the Drewry's World Container Index (WCI) keep stretching. The Index lost 8% to end at US$3,688.75 for the week, extending its weekly-loss streak to 32 weeks. The Index has now lost 76% of its gains since the pre-pandemic levels. Source: Drewry Supply Chain Advisors An often oversighted trade lane, the Rotterdam-Shanghai saw its spot prices dip to three digits for the first time sin
Port Houston orders 26 hybrid Konecranes RTGs Port Houston has ordered 14 hybrid Konecranes rubber tyred gantry cranes (RTGs) for its Barbours Cut Container Terminal and 12 hybrid Konecranes RTGs for its Bayport Container Terminal. The order, which is expected to support the port's expansion, was booked in the third quarter of 2022, while the crane deliveries will start in the second half of 2023 and continue to mid-2024. Port Houston aims t
Indian container trade flows begin to moderate amid export growth pressure According to the latest port data secured by Container News , the pace of Indian containerised trade flows has begun to slow down after recording strong growth last fiscal year. Nhava Sheva/JNPT, India's largest public handler, saw volumes drop sequentially over the July-September quarter. The port handled 481,595 TEUs last month, decreasing from 497,568 TEUs in August and 503,442 TEUs in July, a
MSC extends Noumea express service MSC has announced the upgrade and extension of its Noumea Express service to include Fiji. The carrier said this service will connect MSC's global network to and from Lautoka and Suva on a fortnightly basis via Sydney/Brisbane, enhancing the company's presence in the pacific market. From 10 November, the service rotation ex Australia to Fiji will be Sydney - Brisbane - Noumea - Lautoka - Suva - S
Oil leaks from Sinokor boxship in South Korea One of Sinokor Merchant Marine's container ships, the 1,050 TEU Niigata Trader, apparently leaked 1.6 kilolitres of marine fuel into the waters around South Korea's Yeosu port yesterday, after its fuel tank was damaged while it underwent repairs. The ship, which plied the South Korea-China-Hong Kong-Vietnam route, arrived at repair yard Yosu Ocean on 19 September. The Korea Coast Guard issued a s
CMA CGM announces new PSS from North Europe to Central America & Caribbean CMA CGM has announced new peak season surcharges (PSS) from North Europe to Central America and the Caribbean that will be effective in November. The French carrier will apply a US$150 surcharge from North Europe, Scandinavia and Poland to Windward, Guyana North Brazil, Trinidad & Tobago for dry and reefer cargo. This PSS will be effective for the whole of November. In addition, from 6 November u
Transnet workers down tools Workers at South Africa's logistics group Transnet have launched an industrial strike over a wage dispute that could paralyse services and disrupt exports. Transnet, which has already been operating below capacity, failed to come to a wage agreement with the United National Transport Union (Untu) and the South African Transport Allied Workers Union (Satawu), which ...
Scorpio Tankers charters out trio on long-term contracts Monaco-headquartered Scorpio Tankers has sealed three new long-term charter out deals worth a total of $101.6m. The New York-listed company has fixed an unnamed scrubbed-fitted LR2 to an undisclosed oil major for three years for $35.9m, while another LR2 has been chartered to a major refiner, fetching $38.3m over the same period. The charters commence ...
Charges continue stacking up over stolen Shell marine gasoil in Singapore Three bunker clerks were charged in Singapore court for receiving a total of over S$43m ($30m) worth of marine gasoil stolen from Shell's facility in Pulau Bukom. The authorities slapped 31, 28 and seven charges on Wong Wai Meng, Wong Kuin Wah and Boo Pu Wen respectively under the Corruption, Drug Trafficking and Other Serious ...
Multi-fuel station for ships project gets UK backing The UK government has backed plans to develop a zero-emission multi-fuel station that would power hydrogen and electric ships. The novel design concept has been drawn up by a group of companies led by clean energy solutions provider Unitrove, the company that built the world's first liquid hydrogen bunkering facility (pictured) for zero-emission ships in ...
RWE enters race for 1.5 GW Polish offshore wind site RWE has joined the race for an offshore wind seabed permit within the 53.E1 area in the Polish Baltic Sea. The German utility has submitted a bid for the up to 1.5 GW site, located around 75 km off the coast of Ustka. The wind farm project has been named Freeboard I and is part ...
Seacor Marine offloads Mexican JV interests as it seals fresh refinancing Houston-based OSV owner Seacor Marine Holdings has agreed a sale of its unconsolidated joint ventures in Mexico and a series of related asset swaps for $66m in cash. The New York-listed firm struck a deal with Proyectos Globales de Energía affiliates, Operadora de Transportes Maritimos (OTM) and CME Ireland to sell 49% of its holdings ...
Seoul non-committal on privatisation of HMM The long-discussed privatisation of South Korea's flagship line, HMM, has been making plenty of headlines out of Seoul in recent weeks. Today, the country's ocean minister laid out the conditions under which he would be happy to sell off the carrier, the world's eighth largest containerline. HMM has been under a creditor-led debt restructuring scheme ...
Maritime CEO Forum Singapore: Shipmanagement in the 2020s How should shipmanagers position themselves as service providers in the 2020s? Last week's Maritime CEO Forum in Singapore served as an ideal sounding board to assess how managers must transform to stay relevant, carrying on a conversation that had been started earlier in the year with the publication of Splash's wide-ranging shipmanagement annual report. The ...
CMB and Volvo team up on dual-fuel hydrogen engines Compagnie Maritime Belge (CMB)'s clean technology division, CMB.Tech, has joined forces with Volvo's engine maker, Volvo Penta, to speed up the development of dual-fuel hydrogen-powered solutions for both on-land and at-sea applications. The companies have worked together in pilot projects since 2017, adapting Volvo Penta engines to run as a dual-fuel hydrogen and diesel solution ...
Nexans wins contract for BP and Equinor US offshore wind project French cabling firm Nexans has landed a significant contract for phase one of the Empire Wind project developed by a 50/50 partnership between BP and Equinor. This deal follows the preferred supplier agreement signed in March 2021 and covers the design and manufacturing, as well as the laying and protection of export cables for the ...
Shelf Drilling seals two-year extension for newly acquired jackup Dubai-headquartered jackup rig operator Shelf Drilling has secured a two-year contract extension for the recently acquired rig . The new deal is a direct continuation of its current contract with TotalEnergies in Denmark, which started in the first quarter of 2021. The Oslo-listed driller said the contract extension is worth around $68m, and should keep ...
New report highlights the millions of dollars in damages shipping faces every year from off-spec bunkers A new 35-page report on bunker testing compiled by consultancy Thetius for class society Lloyd's Register highlights the multi-million dollar losses shipping endures every year from off-spec fuel deliveries. According to Thetius research, every year fuel suppliers globally deliver between 1m and 1.5m tonnes of off-spec fuel to vessels over 5,000 gt engaged in foreign ...
Crowley moves forward on Salem wind terminal with land closing Crowley has completed the purchase of 42 acres in Salem, Massachusetts, the latest milestone toward the development of the state's second major offshore wind port terminal. The Salem Harbor Wind Terminal is a public-private partnership between Crowley and the City of Salem, with AVANGRID serving as the port's anchor tenant through its Commonwealth Wind and ...
Amplify Energy approved to repair San Pedro Bay pipeline after 2021 oil spill Amplify Energy Corp. has received a permit from the US Army Corps of Engineers to proceed with repair plans that were reviewed and approved by federal pipeline safety regulators earlier this year. The damaged pipeline caused a 25,000-gallon spill of crude oil into the waters off Huntington Beach, California in October last year. The repair will involve ...
Cuts by OPEC+ seen putting the brakes on VLCCs OPEC+ countries yesterday agreed on their deepest cuts to oil production since the onset of the covid pandemic with oil prices showing significant gains in the ensuing 24 hours. Cuts of 2m barrels per day or 2% of global demand will kick in from next month. "The cut is negative for tankers, though, based on ...
Mediterranean markets face 'potential feeder containership shortage' The impact of environmental regulations on an older fleet could tighten available tonnage in southern Europe, according to Daniel Richards from Maritime Strategies International. Dedicated newbuild contracting by regional Mediterranean owners will have to increase in the coming years to replace ageing vessels removed from the fleet as progressively tighter environmental regulations come into forc
Daily Briefing EU sanctions target Russian class society and outline oil price cap | Opec cuts cast cloud over VLCCs rates recovery...
Norden raises full-year guidance for a fifth time Revision reflects a 'strong performance' in the assets and logistics unit, as well as the freight services and trading business
Safety evolves gradually, collaboratively and across sectors The growth and development of safety technology is happening under the radar. Far from being a threat to vessel operations...
UK risks breaching climate obligation with focus on domestic shipping in ETS While some see not including international shipping in the UK's Emissions Trading Scheme as sensible, others say the UK will...
Bulker values begin to stabilise The recent correction in values of bulk carriers looks to have bottomed out on the back of a shortage of...
NorthStandard tipped to emerge as biggest P&I club Further consolidation expected, although 'pride and the conservatism' of club boards and managers has proved a serious stumbling block in...
Opec cuts cast cloud over VLCCs rates recovery The largest tankers ship about 40% of the world's seaborne crude, but 70% of all exports from the Middle East...
Shell expects traditional fuels production to drop 55% by 2030 'We are transforming our refinery footprint globally, reducing to not more than five or six energy and chemical parks,' said...
EU sanctions target Russian class society and outline oil price cap 'The package agreed today introduces into the EU legislation the basis to put in place a price cap related to...
Cosco agrees installation deal for wind propulsion technology Shipowning clients of the Cosco unit can now choose to install the rotor sails system on fresh tonnage or retrofit...
CSSC Shipping signs leaseback deal for kamsarmax pair Vessels will be bareboat chartered back to the sellers for 10 years upon delivery with a buyback option
Daily Briefing Russian oil price cap deal nears as focus widens to non-EU flags | Sanctions fail to stem Russia's outbound seaborne...
USDOT grants $39 million to fund port projects Of the 12 projects the US Department of Transportation is funding, 11 will receive support for developing container-on-barge services.
Altana lands big investment to map global supplier networks Supplier risk is becoming a bigger hurdle for shippers, notably around forced labor regulations, prompting venture capital firms to plunge $100 million into technology provider Altana.
US railroads need to overcome fear of 'adverse publicity' The railroad industry's previously inexhaustible supply of goodwill is rapidly dwindling as a recent avalanche of adverse publicity brings to the surface a long-standing undercurrent of discontent with the rail industry.
Houston eyes long-dwell fee for imports as shippers shun Saturday gates The Port of Houston is weighing whether to hit shippers with an additional fee if they let their import containers dwell for excessively long periods as terminal space remains tight.
Softer truck rates, spotty rail service give intermodal providers tough sell Intermodal providers will have difficulty selling the rail product in early 2023 bids because truck rates continue to drop while intermodal service has been lackluster.
Ian recovery will exacerbate Florida truckload rate imbalance: analyst The long recovery from Hurricane Ian will drive up the ratio of Florida inbound and outbound loads, pushing up southbound truckload spot rates while relief supplies flood the state, writes JOC analyst Jason Miller.
California trucking interests have high hopes for new D&D law New detention and demurrage legislation in California will protect cargo interests, truckers, and freight intermediaries from some charges they say are unjust.
Liner contract rates expected to 'reset' lower in 2023 on back of falling spot market Lower port congestion and consumer demand for boxed goods are hurting spot freight rates, market analyst says
US appeals court 'breaks new ground' as it sides with charterer in six-year-long bulker battle Ferrominera Orinoco will have to pay more than $12m in a dispute stretching back to 2016
Maersk joins LEGO, Carlsberg and Orsted in calling for Denmark to keep leading on green transition Ahead of election, twelve of the country's major companies call on government to accelerate investments, boost access to green finance and lead regulatory efforts
EU adopts guarded language on Russian oil price cap Legislation unveiled on Thursday attaches several strings to measure
Tanker shares take a ride after Opec's production cuts After selling off ahead of Wednesday's Opec meeting, investors come rushing back to tanker stocks
Scorpio Tankers ups time charter coverage at premium rates The New York-listed product tanker owner said over the summer that taking some period coverage made sense
Smart sales and tanker exposure prompt Norden to raise profit forecast yet again Danish bulker and tanker group makes fifth positive revision to annual earnings estimate this year
Braemar standing firm on pay policy despite drop in shareholder support UK shipbroker reiterates its belief in current reward structure following reconvened annual general meeting
Streetwise: What a cloudy forecast at a Miami shipping event says about recession risk ASBA cargo specialists see economic challenges in 2023, but Marsoft's Arlie Sterling says the worst of it could be brief. Our shipping finance newsletter explores
'Spectre of overcapacity' returns to haunt container markets as orders mount Orderbook peaks as haemorrhaging demand hits freight and charter markets
Maersk among biggest polluters that 'fail basic disclosure tests' on climate risk Liner shipping giant one of 134 major companies that are falling down on disclosure of climate-related risks as scrutiny increases
Who will act when seafarers find their ship is their prison? The system to protect seafarers from their owners is still failing when going to sea on the wrong ship can still mean effective enslavement
Euronav poised to resume ship sales amid soaring values Another day, another remarkable transaction is brewing in the dizzying tanker market
Why Opec cut is not all doom and gloom for VLCCs Distance and inefficiency factors can support sector into the winter
Maersk Tankers' new chartering boss 'doesn't do things half-heartedly' There will be no half-measures for Danish operator's latest recruit as he heads up chartering unit
Bulker buyers betting rates will rise to support prices being paid But US-based consultant says the opposite could also be true in uncertain times
Odesa-trapped bulker finds way out of Ukraine with new cargo Owners and charterers settle dispute just before it reaches arbitration
Hoegh Autoliners achieves highest car carrier rates so far this year Chief executive Andreas Enger says demand remains strong in soaring sector
Stars align for floating LNG but projects face tough challenges Developers do battle for shipyard time as they race to get their projects over the line to cash in on heightened gas demand and record prices
Oslo-listed Stolt-Nielsen wary of splashing cash on expansion as chemical tankers prosper The priority remains debt reduction and improving breakeven costs as the owner reports increasing profit
Singapore's MPA sets out quality standards for biofuel bunkering City state sets out guidelines ahead of those from the International Organisation for Standardisation
'Magic pipe' probe leaves V.Ships in US Coast Guard standoff with client Tiptree Marine The case in Texas has pitted ship manager V.Ships Norway against New York owner Tiptree Marine and pool operator Maersk Tankers
Security tensions near boiling point as gas lights up shipping The red-hot LNG shipping market can only get hotter as suspected sabotage of Nord Stream pipelines rattles the West
Lawyers warn EU sanctions flip-flops could strand tankers at sea Uninsured bulkers were stranded after an EU sanctions flip-flop, says law firm, and the problems could reoccur as the bloc agrees Russia oil price cap plan
Bangladesh's PHP Shipbreaking to recycle Chartworld capesize bulk carrier Star Tianjin's arrival off Chattogram is one of the very few demolition arrivals due to currency and credit problems
Singapore's MPA sets out quality standards for biofuel bunkering City state sets out guidelines ahead of those from the International Organisation for Standardization
Singapore's MPA sets out standards for biofuel bunkering City state sets out guidelines ahead of those from the International Organisation for Standardization
Hyundai Heavy relocates sales and marketing teams to South Korea's Silicon Valley as it seeks fresh blood The shipyard group is anchoring in Pangyo in the hope of luring more young people to join the shipbuilding industry
LAX solicits proposals for massive cargo redevelopment Los Angeles airport is finally moving forward on an ambitious project to overhaul its sprawling cargo terminals.
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