Trafigura charters in methanol-fueled products tanker Methanol, whether green or not, continues to make inroads as a marine fuel. Now Waterfront Shipping, a subsidiary of Methanex, the world's largest producer and supplier of methanol, has entered into a
Navy authenticates keel for future USS Arizona (SSN 803) Yesterday, December 7, National Pearl Harbor Remembrance Day, senior Navy leaders, elected officials, and industry partners gathered at General Dynamics Electric Boat's Quonset Point Facility, to attend a keel-authentication ceremony for future
Solstad Offshore books 5-year contracts for two PSVs Skudeneshavn, Norway, headquartered Solstad Offshore ASA (OSE: SOFF) reports that two of its PSVs, Normand Naley and Sea Frost, have been awarded five-year contracts by Equinor UK Limited (Equinor). Both contracts will
Port of Melbourne proceeds with remediation of Swanson Dock West Port of Melbourne has announced the awarding of a contract for Stage 1 of the Swanson Dock West remediation project. Under the contract, McConnell Dowell will complete the first stage of the Swanson Dock West Remediation Project which includes the remediation and upgrade of the existing wharf structure. Port of Melbourne CEO, Saul Cannon said he was excited to see the project progressing as part
APM Terminals announces changes in Nigeria leadership APM Terminals Nigeria has announced that Frederik Klinke will assume the role of country managing director on 1 January 2023, replacing Klaus Holm Laursen, who moves to the position of head of joint ventures in Africa and Europe. Klinke is Danish and has been with A.P. Moller - Maersk since 2006. He holds a Master of Science degree in Economics from Copenhagen University and a strategic finance d
World bunker indices continue firm decline According to the weekly outlook of Marine Bunker Exchange (MABUX) for fuel prices, world bunker indexes continued their firm decline over the last week, despite expectations of sharp irregular changes caused by the price cap imposed by the European Union on Russian oil. The 380 HSFO index fell to US$468.48/MT, the VLSFO index, in turn, decreased to US$684.42/MT, while the MGO index declined to US
GEODIS to open new warehouse in Sweden Supply chain provider GEODIS extends its contract logistics capabilities in Sweden with the addition of a 20,000 m² warehouse close to its existing facility at Arendal, near Gothenburg. The location of the second warehouse of the company in Sweden offers easy access to the E6 and E20 motorways and the port of Gothenburg. In addition, the extension has a railhead within the property, clearance hei
Ocean Alliance unveils service network for 2023 Ocean Alliance, comprising CMA CGM, COSCO, Evergreen and OOCL, has announced its service network for the next year, which is expected to launch on 1 January 2023. The four parties signed the Ocean Alliance Day 7 Product which includes 40 services and an annual capacity of 22.4 million TEUs on major trade routes worldwide. The initial service network of Ocean Alliance for 2023 will be as follows:
World Group acquires Pacific Cascade World Distribution Services (WDS) parent company World Group announced the acquisition of Pacific Cascade, comprised of Pacific Cascade Distribution, LLC, and Pacific Cascade Trucking, LLC, both headquartered in Sumner, Washington. Pacific Cascade, founded in 2005 by Jeff Roulst, is an asset-light provider of 3PL services including drayage, warehousing, transloading, fulfillment and more. They op
Singapore Shipping Association teams with ClassNK for cyber security research Singapore Shipping Association and the Japanese classification society ClassNK have joined forces to work on cyber security research. Under a memorandum of understanding, the two parties will carry out joint basic research on establishing vessels' cyber security operation centers that provide crewmembers with support in monitoring and responding to cyber events onboard. The research is ...
Solstad Offshore scores long-term Equinor charters for PSV pair in UK Norwegian offshore vessel owner Solstad Offshore has fixed two large platform supply vessels to Equinor UK for five years. The 2011-built and the 2013-built will start their contracts in January 2023 and both charters include options for further extensions. Financial details have not been disclosed. The 4,400 dwt Sea Frost has been working for Equinor ...
Fredriksen sells Euronav shares for $39m Shipping magnate John Fredriksen has reduced his ownership interest in Frontline merger target Euronav, having sold around 2m shares in the Antwerp-based tanker giant. According to the latest US Securities and Exchange Commission (SEC) filing, Fredriksen offloaded 1% of its Euronav slice for $39.2m and now controls around 35.86m shares, corresponding to an ownership interest ...
Maersk Tankers bolsters intermediate pool with Argentina's Bahia Grande Denmark's Maersk Tankers is attracting new partners to its intermediate pool, backed by strong earnings. The latest to join is Argentina-based Bahia Grande and its 2010-built clean chemical and product tanker . The company is the third new partner to join the pool in 2022. Maersk Tankers said product tanker markets continue to see high ...
Hundreds of Petrofac North Sea workers start two-day strikes Hundreds of unionised UK North Sea workers employed by energy services company Petrofac kicked off two days of strike action on Thursday in an ongoing dispute over pay and working conditions. Nearly 150 Unite union members working on Repsol Sinopec's assets are downing tools for the second time in several weeks, after rejecting a 3% ...
Trafigura charters Clean Sea methanol-powered product tanker in an industry first Methanex subsidiary Waterfront Shipping has entered into a time charter with Trafigura for the 2021-built methanol dual-fuel product tanker . The vessel is owned by Clean Sea Transport, a consortium made up of MSEA Group, Arkview Capital and Scorpio Tankers, and has been on a long-term charter to Waterfront. The deal with Trafigura marks the ...
Global Port Services lands contracts for Scotland's largest offshore wind farm Global Port Services has secured multiple contracts to support work on Scotland's largest offshore wind far at Port of Nigg. The firm, part of Global Energy Group, will assist Seagreen Wind Energy Limited (SWEL) with site-enabling works for the pre-assembly construction of wind turbine components at the Moray Firth facility. News of the contracts comes ...
Rise of the dark fleet risks global shipping's reputation The growing size of the so-called dark tanker fleet poses a real threat to the reputation of global shipping, and puts the lives of seafarers at risk as well as the environment, leading shipping figures have warned. With Russia joining other oil exporting giants Iran and Venezuela in creating a fleet to avoid sanctions this ...
Ningbo Ocean Shipping raises $143m in Shanghai IPO Ningbo Ocean Shipping, a subsidiary of China's Ningbo-Zhoushan Port, has listed on the Shanghai Stock Exchange raising CNY1bn ($143.3m) from its initial public offering. The company's shares surged 44% on the first day from its IPO price of CNY8.22 to CNY11.84. The proceeds are intended to be used for the purchase of bulk carriers, 10,000 ...
Dry bulk critics of CII mount Dry bulk critics of the impending Carbon Intensity Indicator are broadcasting their complaints in ever greater volumes weeks ahead of the start of the International Maritime Organization (IMO) ruling. Both INTERCARGO, the sector's main lobby group, and Oldendorff Carriers, one of the largest names in dry bulk, came out with detailed criticism of the new ...
Decarbonisation report shows shipping how to get going this decade The maritime industry must take immediate collective action on an unprecedented scale to bring the decarbonisation of the industry closer to the Paris 1.5°C trajectory, according to a new 78-page report published today by the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping. The report urges companies, governments, and individuals across the globe to collectively ...
Prosafe inks flotel deal with Petrobras Oslo-listed accommodation vessel owner Prosafe has officially signed a contract with Brazil's Petrobras for the 2015-built semisub. The contract worth around $73m or 112,500 per day starts on May 1, 2023 and has a firm period commitment of 650 days. The vessel will commence mobilisation for safety and maintenance support offshore Brazil after the ...
Transocean secures $1bn for pair of drillships in Brazil Swiss-based offshore driller Transocean has won contracts in Brazil worth around $1.04bn for two ultra-deepwater drillships. The New York-listed rig owner said the 2011-built and had been booked by a national oil company for four and three years, respectively. The contract for Deepwater Corcovado, worth about $583m, should start in the third quarter of 2023 ...
New dry bulk ship finance vehicle launches A new ship finance vehicle focused on dry bulk has been launched out of Athens and Dallas. Led by Stefanos Michalis, Goldfish Capital aims to provide working capital solutions to ship operators in the dry-bulk space. Goldfish Capital has debuted a secured revolving facility provided to dry bulk ship operators in order to finance their ...
Pan Ocean invests in Korea's top airline Another shipping line is showing an interest in airlines. South Korea's Pan Ocean has bought a 5% stake in Hanjin KAL Corp, the largest shareholder of Korean Air Lines, spending $95m to become the fifth largest shareholder in the airline group. Last year, Pan Ocean, owned by Korean poultry producer Harim Group, attempted to buy ...
Hyundai Heavy to develop ammonia FSRU Hyundai Heavy Industries has begun to develop a floating storage re-gasification unit (FSRU) for ammonia in cooperation with Korea National Oil Corp (KNOC) and Lloyd's Register. "With cooperation with Hyundai Heavy Industries Group, it is possible to develop an ammonia FSRU for the first time in the world," KNOC's ESG head Ahn Beom-hee said. South ...
d'Amico adds another MR tanker D'Amico Tankers has exercised a purchase option on the existing bareboat charter-in contract for the High Voyager, a 45,999 dwt MR product tanker vessel built in November 2014 by Hyundai Mipo, South Korea, for a consideration of $20.8m. The latest acquisition takes the d'Amico tanker fleet to 36 ships. Paolo d'Amico, chairman of d'Amico International Shipping, ...
Boosting security and transparency in shipping Container tracking and sensor technology are cost effective means of consistently increasing security, operational efficiency, and sharpening the competitive edge of first moving vessel operators, writes Christian Allred from ORBCOMM. It has long been said that shipping requires more transparency in its operations, particularly when it comes to containers. Being able to pinpoint where your ...
California offshore wind auction ends with bids for five lease areas totalling $757.1m The US Bureau of Ocean Energy Management's wind energy auction for five leases offshore California - the first for the country's Pacific region - drew competitive high bids from five companies totalling $757.1m. The sale offered five lease areas covering 373,268 total acres off central and northern California. The leased areas have the potential to ...
Türkiye tanker insurance stand-off paralyses Black Sea oil trades Maritime authority said it would continue to prevent transit through national waters unless insurers provide letter of guarantee, despite talks...
Big miners offer little hope for dry bulk demand Flat production targets do not bode well for the dry bulk market, which has softened in recent weeks - especially...
First offshore wind auction in the Pacific generates over $750m in bids European firms dominate the sale, the third significant offshore wind lease sale this year and the first-ever in the Pacific...
Major drawbacks in CII charterparty clause highlighted by law firms Clyde & Co and Watson Farley Williams find BIMCO wording wanting, while criticism of wider scheme grows
Shipping needs a 45% cut in emissions by 2030 The maritime industry must take immediate collective decarbonisation action on an unprecedented scale in order to align with the Paris...
Trafigura increases chartered coverage in turbulent year "As trade flows evolved and altered because of the sanctions imposed on Russia, we were well positioned to adapt thanks...
John Fredriksen sells Euronav shares Share sale comes as Frontline shareholders asked to vote to redomicile company ahead of planned merger with Euronav
More big boxship orders in the pipeline Should all the newbuildings under discussion become firm contracts then the boxship orderbook will comfortably exceed 30% of slot capacity...
Singapore Shipping Association partners ClassNK to research on cyber security Following the research, SSA and ClassNK will work on drafting a joint White Paper for the purpose of developing education...
CULines and Antong set to reach settlement on charter agreement CULines said it will deploy four newbuilding boxships, which are on order, on to the Asia-US West Coast trade next...
Pan Ocean raises stake in South Korea's major airline Pan Ocean is largest dry bulk player in South Korea
Daily Briefing Kazakh crude caught up in Bosporus tanker tailback | Marine underwriters unfazed by Russia oil cap | Russia sanctions driving...
Ningbo Ocean Shipping raises $143m from IPO in Shanghai The shortsea container shipping carrier operates a fleet of 50 boxships with a combined capacity of 43,340 teu
Maritime unions agree to deepen co-operation post-pandemic Priorities for the group include lobbying governments on improving training and career pathways, pushing for better recognition of seafarers, and...
ABS and Boston Consulting Group team up on decarbonisation ABS says the partnership will combine its technical and regulatory experience in marine and offshore with BCG's expertise in consulting...
US LTL volumes drop, but pricing proves resilient Less-than-truckload shipping volumes in the US are falling in the fourth quarter from all-time highs, but rates are slower to drop as carriers push back on absorbing higher costs.
CMA CGM seeking US adaptability through NY-NJ terminals purchase CMA CGM said its acquisition of terminal assets in the key New York-New Jersey container gateway was designed around flexibility for shippers, not a bet on permanent shifts in US coastal market share.
Long-term demand to steady MPV/HL fleet: analysts The multipurpose/heavy-lift vessel sector is proving to be less volatile than the container and bulk sectors as the pandemic market normalizes, analysts say.
GSBN executive sees promise in post-TradeLens world The head of the Global Shipping Business Network, long seen as a rival to the now-defunct TradeLens, said the demise of the Maersk-led technology platform could eventually boost use of blockchain-backed tools in shipping.
US blacklists Erdogan confidant on allegations of arranging oil shipments for Iran Turkish business man is accused of running network that helped Iran sell oil and buy ships
Carbon price breakthrough to raise up to $60bn is closer, says IMO's Kitack Lim IMO secretary general tells TradeWinds he is personally 'very positive' about progress in talks to decarbonise shipping, with consensus building for a $40bn-$60bn a year carbon fuel levy
Performance Shipping finalises loan that takes November Alpha Bank deals to $40m Tanker owner signs deal announced in late November to finance purchase of tanker from Latsco
Viking Line offloads 42-year-old ro-ro to new Greek buyers Vessels no longer good enough for the Finnish company's strict environmental standards find new life in Mediterranean waters
Nasdaq debutant plots LNG barge project to power Papua New Guinea Singapore company chases US investors and plans Nasdaq listing
Shipping in the metaverse: The role for virtual reality in maritime Technology trends report by classification society ABS finds potential for advanced visualisation technology to play a greater role in inspection, training and remote operation
Is Fredriksen's Euronav share sale a shot across the bows? Clarksons Securities analyses the shifting sands of drawn-out tanker merger
Streetwise: A transport hedge fund brings shipping focus and some familiar names Our finance newsletter surveys the bullish view on tankers at West Brow Transportation Fund as key players talk up the virtues of supply-side constraints
Chinese-owned tankers return for 'round two' of Russia trades Cargo tracker Vortexa says VLCCs are positioning themselves in the Atlantic to receive Russian Urals in ship-to-ship transfers
MSea's Mano hails first charter of dual-fuel tanker by non-methanol producer Shipowner says Trafigura deal is groundbreaking in more ways than one
Buyers revisit previous tanker sales candidates as new tonnage flow slows New crude vessel options are limited but brokers report more MR deals
Maersk Tankers' Intermediate pool brings Argentina's Bahia Grande on board South American company is third new partner to join operation this year
IMO must send 'strong and ambitious' signal to cut carbon, says European Commission Next week's crunch meetings in London need to deliver progress on decarbonisation agenda, says European Commission maritime policy head
US urges Turkey to drop P&I tanker checks in the Bosphorus Government officials hold talks over insurance standoff
Nissen Kain quietly moves into shipbuilding following Mitsui E&S exit Fast-expanding Japanese owner emerges as the largest shareholder in Shikoku Dock
Carbon price breakthrough to raise up to $60bn is closer, says IMO's Kitack Lim IMO secretary general tells TradeWinds he is personally 'very positive' about progress in talks to decarbonise shipping, with consensus building for a $40bn-$60bn a year carbon fuel levy
John Fredriksen reduces Euronav stake after Saverys family adds shares Filing shows tycoon's slice has dropped for the first time since he began investing in potential merger partner last year
Trafigura adds 40 ships to tanker fleet as profit soars Trader and charterer also expands dry bulk operations as it reacts to changing markets
Are Middle East shipowners lagging behind the industry's voyage to net zero? Regional expert claims national agendas are setting the pace for Middle East shipping's decarbonisation drive
Navios offloads its chemical tankers amid wider sale drive Behemoth parts ways with smaller, older tankers to make space for bigger, younger ones
We need 'convenors' to propel maritime's decarbonisation, Houlder says Survey by marine advisors sees small and midsize owners struggling most with transition issues
KSOE faces Hyundai Samho Heavy Industries IPO deadline South Korean shipbuilding giant may have to repay private equity firm's investment if yard is not taken public
d'Amico saves $17m with bargain purchase option for MR tanker Italian owner strikes again to bring back leased vessel from NYK Line
Maersk Tankers' Intermediate pool brings Argentina's Bahia Grande on board South American company is third new partner to join operation this year
Shipping must cut fossil fuel use in half by 2030, Maersk Centre says New report from Danish research and development organisation highlights need for immediate action to align with Paris targets
Low-carbon future: Japanese financers target green marine market growth Banks and leasing companies are adapting their business models to meet the changing market and decarbonisation
Stena Impero to return to global stage in carbon capture trial MR tanker was detained for 71 days by Iran in 2019 but will now be used to test new on-board technology
Pan Ocean becomes latest shipowner to invest in an airline South Korea's largest shipowner says acquisition is just a punt on the airline's shares increasing in value
China's surprise COVID pivot offers new hope to shipping markets Faster easing of China's COVID restrictions could provide eventual support for container and dry bulk markets and a more immediate boost for tankers.
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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