NTSB reports on $1.8 million towboat engineroom fire A missing retaining ring and mounting bracket on the port main diesel engine led to an engineroom fire on a towboat near Belleview, Ky., the National Transportation Safety Board (NTSB) says. The
Latest round of Equinor PSV contracts puts ammonia fueling in the mix Norwegian energy giant Equinor yesterday awarded platform supply vessel (PSV) contracts for six ships to five shipowners. The contracts have a total value estimated at more than NOK 2.5 billion (about $235
Keppel O&M legacy jack-ups set to go to work Singapore's Keppel Offshore & Marine (Keppel O&M) has completed the modification works for the four legacy jack-up rigs that are be deployed on bareboat charters in Saudi Arabia. The rigs are being
Galveston to get the world's first zero-energy cruise terminal Royal Caribbean Group's (NYSE: RCL) new Galveston, Texas, terminal, which is opening November 9, will be the first cruise terminal to generate 100% of its needed energy through on-site solar panels. This
Suspected short circuit behind fire on cargo ship in Surabaya A general cargo ship caught fire just as it was pulling into Tanjung Perak port in Surabaya, Indonesia, on 13 October. The 2002-built 4,525 dwt LIT Enterprise, which has 274 TEU of container capacity, is engaged in coastal transportation around Indonesia. Owned by PT Samudera Lintas Indonesia Timur, the ship was acquired second-hand in late 2015. LIT Enterprise was carrying 220 empty containers a
Savannah port surpasses 1.5 million TEUs in three-month period Port of Savannah handled 1.5 million TEUs in the first quarter of the fiscal year 2023 (July-September 2022), which is an increase of 9.6% over the same period last year. Griff Lynch, Georgia Port Authority (GPA) executive director, said that the high number of ad hoc vessel calls, the addition of three new Mediterranean services, and one new service to Asia were key factors for that growth. Howe
Titan to build world's largest biomethane liquefaction plant at port of Amsterdam uel supplier Titan has announced plans to build and operate the Liquified Biomethane (LBM, also known as bio-LNG) plant at the Port of Amsterdam, which is expected to produce liquid biomethane from organic waste and residual streams. The waste will be converted by biogas supplier BioValue after which Titan will turn it into liquid biomethane with its new plant, according to a statement, while Li
Box rates slip further on indices for 33rd consecutive week The streak of red for ocean freight continues, with both the Drewry's World Container Index (WCI) and the Shanghai Containerized Freight Index (SCFI) , losing about 5.7-6% this week. While the WCI shaved off 6% to end at US$3,483, the SCFI which didn't register a quote, the previous week, over the Chinese Golden Week, lost about 5.7% to end at US$1,814. As rates fall for the 33rd consecutive week
Panstar to help Pyeongtaek's container push South Korean ro-ro ferry operator PanstarLine.com on 12 October signed an agreement with Pyeongtaek municipal authorities to maintain a regular container shipping route linking Pyeongtaek port with Japan. Since 16 September, Panstarline.com has been operating a container and passenger shipping service between Pyeongtaek and Osaka and Nagoya, using the ro-ro ferry Panstar Genie, which has 103 TEU
GSBN and project44 join forces Global Shipping Business Network (GSBN), an independent, non-profit technology consortium developing a blockchain-enabled operating system, is partnering with project44, a supply chain visibility platform. The shared goal of the two partners is to enhance supply chain visibility and address the global trade finance gap, according to a statement. Both project44 and GSBN will also join forces with
Wilhelmsen to acquire Rotterdam-based port services provider Wilhelmsen Port Services has entered into an agreement with Vopak to fully acquire Vopak Agencies and 50% of Diize. Vopak Agencies has a track record in hub services and port agency services in Europe, while Diize is a digital software company, developed by Vopak, aimed at the future of port orchestration. The completion of the transaction is subject to predetermined conditions and works council
BIMCO confirms need for non-European Union ship recycling yards on EU list Although more and more yards are being added to the European Union (EU) list of approved ship recycling facilities, the demands of the global shipping industry need additional capacity, according to a recent report by the international shipping association BIMCO. The association believes the focus must shift towards adding facilities outside of the EU, while its report also shows that the EU audi
Maersk opens new consolidation centre in Ethiopia A.P Moller - Maersk and its Ethiopian partner, Freights International (PABOMI), announced the opening of a consolidation centre at Modjo Dry Port in Ethiopia. According to the Danish carrier, t he new multi-purpose facility is expected to help to simplify and optimise apparel and lifestyle customers' supply chains - saving cost, significantly reducing their speed to market and making them more co
Boxship sinks in Red Sea after major fire Following a major fire incident, the 1,853 TEU vessel TSS Pearl reportedly sunk approximately 300 kilometres southeast of Port Sudan, a port city in eastern Sudan and the capital of the state of the Red Sea. According to cargo insurer WK Webster, several containers are reported to be floating at the site of the sinking, but it is currently unconfirmed if any of the vessel superstructures remain v
Canadian government implements over US$12 million to ease supply chain regulations Canada's government will invest CA$17 million (US$12.3 million) over five years to streamline regulations and reduce bureaucracy across the country's supply chains. Canada's Minister of Transport, Omar Alghabra announced how the government will implement these funds through several new initiatives. This commitment was made in Budget 2022, and the government will implement its commitment by: Amend
Furetank sells tanker pair to Neste Swedish shipowner Furetank has agreed to sell two of its dual-fuel product tankers to Finnish oil refiner Neste. No price has been revealed for the 2018-built Fure Valo and 2019-built Fure Ven, VesselsValue estimates as worth $60.3m combined. The Vinga-class vessels will be delivered in October and December 2023, when the first of the seven ...
Solstad Offshore bags close to $10m in vessel contracts Norwegian OSV owner and operator Solstad Offshore has won new contracts and extensions worth combined around NOK105m ($9.9m) for four of its platform supply vessels. The contracts and extensions have a total duration of 850 days and involve the 2003-built Far Symphony, 2009-built Normand Serenade and 2013-built Far Spica and Normand Tantalus. The vessels will ...
Equinor fixes Eidesvik Offshore PSV for three years Norway's Eidesvik Offshore has been awarded a three-year time charter contract with Equinor for its large platform supply vessel (PSV) . The contract for the 5,700 dwt ship is awarded in direct continuation of the current charter and will start in December. The 2004-built Viking Avant has been on contract with Equinor since its delivery. ...
Reach Subsea seals multiple fresh deals Oslo-listed Reach Subsea has penned one larger contract and has recently also been awarded several contract extensions. The Norwegian subsea services player said the contracts encompass projects in Trinidad and Tobago, and Northern Europe, securing utilisation for Q4 2022 and into Q1 2023. The Wilhelmsen-backed company last month also signed contracts worth over NOK200m ($20m), ...
Vintage tankers and car carriers have doubled in price this year Ageing car carriers, aframax and MR tankers are the ship types which have appreciated the most in price in the year to date according to exclusive data compiled for Splash by Arrow and VesselsValue. In a year where ship valuations for most ship types have shown strong upticks thanks to buoyant markets and the skewed ...
Navig8 joins Ofer and Fredriksen buying into International Seaways Navig8 has become the latest big name in shipping to buy into New York-listed tanker owner International Seaways. Within hours of it being revealed that Idan Ofer had bought a 5.05% stake in the Lois Zabrocky-led tanker outfit, it emerged that Navig8 had done similar, buying up 2.51m shares giving it a 5.12% stake. Ofer ...
Kongsberg establishes renewables tech business Norwegian technology group Kongsberg has set up a new company as it looks to strengthen its presence in the offshore wind and other renewable energy sectors. The group said the establishment of the company called Kongsberg Renewables Technologies will further strengthen its technology development and domain expertise, while also adding new strategic opportunities for future ...
Borr Drilling offloads jackup rig in $120m deal Tor Olav Trøim-backed jackup rig owner Borr Drilling has struck a deal with an unrelated third party to sell one of its Singapore-built units for $120m. The Oslo-listed company is offloading the Pacific Class 400 Gyme. The Panama-flagged rig is currently in Singapore and has not been activated or contracted since its delivery. Borr Drilling ...
Simon Møkster Shipping bags Equinor vessel extension Norwegian shipowner Simon Møkster Shipping has secured more work with Equinor for the multipurpose support vessel. The Norwegian energy major has exercised all options for the 2014-built ship providing walk-to-work services and related service operation vessel (SOV) commissioning work on the Hywind Tampen floating offshore wind farm project in Norway. Hywind Tampen is an ...
Prosafe firms up US Gulf flotel deal Oslo-listed semisub accommodation vessel owner Prosafe has confirmed a contract with a US Gulf of Mexico major for its flotel . The 2005-built unit has been booked to provide accommodation and construction support services for 330 days with up to six months of options. The contract, worth approximately $33m is expected to start within a ...
New CEO for Ocean Technologies Group Seafarer training and fleet management giant Ocean Technologies Group, (OTG) has appointed Thomas Zanzinger to replace Manish Singh as CEO. Zanzinger brings over 30 years of leadership experience working at global SaaS and software vendors. Peter Ryan, chairman of OTG, commented: "We are delighted to have Thomas join our team to help maximise the growth ...
US industry-led guidance document covers all stages of offshore wind farm development The US Offshore Wind Standards Initiative, a collaborative that brings together federal government departments and agencies, national industry associations, the American National Standards Institute (ANSI) and industry representatives, has issued a best-practices guidebook for the offshore wind sector. The document is the culmination of a five-year effort by the collaborative and more than 100 in
Time running out to avoid Russian price cap chaos, says legal expert As a price cap on Russian oil looms, US officials have said they will not play a game of 'gotcha'...
The Lloyd's List Podcast: The minister and the master The Lloyd's List Podcast has been in Cyprus talking to shipping deputy minister Vassilios Demetriades about sanctions, diplomacy and how...
International Seaways reveals Navig8 stake of 5.12% Company shares have gained 191% so far this year on the back of a recovery in the tanker market
Smart sanctions must heed the law of unintended consequences If the G7 wants to introduce a cap on the price paid for Russian crude, it should make haste slowly...
Russia-China seaborne coal imports surge 19% this year as Europe bans redirect trades Indian imports of Russian coal total 12.7m tonnes in the first nine months of the year, up from 5.9m tonnes...
Call to add non-EU ship recyclers to approved list Calls are being made for ship breakers in India, Bangladesh and Pakistan to be included in the EU list of...
Spot rates resume slide after Golden Week break Significant east-west trades are down by more than 10% again this week. Capacity reductions have yet to have a material...
Russian fleet doubles down on trade with friendly countries Activity is down about 10%, but Russia's merchant fleet has adapted to cater to those who are still happy to...
Neste buys eco product tankers from Furetank Finland's Neste has previously chartered Fure Valö and Fure Ven for transporting its cargoes of sustainable aviation fuel and renewable...
Third strike planned at port of Liverpool Liverpool workers are still in the midst of a second industrial action. A third strike is planned for later this...
Ningbo port facing another lockdown Shipping and logistics companies are scrambling to offer alternatives to customers as the heavy-handed surveillance associated with the so-called 'zero-Covid'...
Bulk loadings feel impact of South Africa strikes Minerals Council of South Africa says that the equivalent of $45m of bulk mineral exports is being lost per day...
Borr Drilling dumps jack-up rig in refinancing deal with Sembcorp Marine Sale is part of refinancing arrangements agreed with Sembcorp Marine unit PPL Shipyard
HMM shareholders back privatisation HMM's first half of the year net profit increased almost 16 times on strong container freight rates
Shipping needs digitalisation to decarbonise Decarbonisation challenges seen as not fundamentally unique to the maritime industry, and lessons from outside it may be useful in...
Cosco car shipping unit receives first long-term contract More open-hatch pulp carriers will be deployed to ship cars for the Chinese automaker on routes to South America and...
Daily Briefing EU's Russia sanctions could see owners seek insurance workarounds | UK maritime races to capitalise on short window of political...
Infrastructure needs and low orderbook fuel dry bulk optimism Whether people like it or not, coal is still viewed as a mainstay of European bulk trades for years to come
In tight tonnage market, AAL adds three secondhand ships Multipurpose and heavy-lift carrier AAL is aiming to increase tonnage despite market volatility as it pursues "long-term sustainable expansion."
Imports surge on East, Gulf coasts as ILWU contract talks drag While retailers normally divert some discretionary cargo to ports on the East and Gulf coasts in years when the ILWU and PMA negotiate a new contract, the shift away from the West Coast has been particularly dramatic this year.
SE ports volume to lag in Q4, but fluidity could improve The anticipated Q4 slowdown in Savannah and Charleston follows a busy summer for the two ports, with combined laden imports rising 9 percent year over year in the third quarter.
Norfolk Southern aims to boost grain shipments through NY-NJ Norfolk Southern is adding a containerized grain export service from Ohio to the Port of New York and New Jersey as the Midwest harvest season looms and shippers seek alternative routings.
'Normal' container shipping market not on horizon for European importers Market conditions may be normalizing for carriers as rates and demand drop closer to 2019 levels, but shippers in Europe continue to battle disruption in their import cargo flows.
Standardization eroding long-term value for standalone visibility providers Visibility aggregators face obsolescence as data standards increase the availability and usefulness of visibility data - unless they work now to deliver standalone functional value before the enterprise resource planning (ERP) and freight management systems in the operating layer co-opt their capabilities and value.
US truck demand rises, but so does capacity A series of freight activity indexes, including the Cass Freight Shipments Index and a for-hire trucking ton-mile index, show shipments are still higher than a year ago, despite recession fears.
Geopolitical disruption a rising threat to freight shippers Rising tensions between China and the United States underscore how even as supply chain congestion is easing, geopolitical threats pose disruption on an entirely different scale.
High US gasoline prices raising hopes for further reserve releases With Opec scaling back supply, Lorentzen & Co said owners are looking toward Washington and its strategic petroleum reserves
Green Seas: the newsletter on the environment and the business of the ocean Each week, TradeWinds reporter Eric Priante Martin and others how shipping and ocean industries are addressing (or not addressing) the environment, and how they are facing pressure to change. Find each edition below.
Flag-swapping on rise as EU owners snub bloc's recycling yards Shipowner group says more yards from India, Bangladesh and Pakistan should be included on an approved EU list
Pacific Basin Shipping 'surprised' by strength of bulker markets amid turmoil Bulker firm has been able to benefit from continued strong demand for minor bulks and is not reliant on China
Editor's selection: Riding the shipping rollercoaster, Russia sanction pleas and the wacky world of Ned Sherwood We pick out some of the highlights (and lowlights) of the week
DOF warns of shareholder wipe-out and bankruptcy if $1.9bn restructuring vote is lost Norwegian offshore shipping group has outlined the dire alternatives to its refinancing deal
Chinese liner newcomer Transfar draws up blueprint for dual-fuel newbuildings Chinese newcomer confirms plan for neo-panamaxes with methanol propulsion
Greek shipbroker Intermodal reveals 'remarkable' S&P figures as tanker deals spike Shop details why a strong year for secondhand transactions is not over yet
Well-to-wake strategy is vital to stemming emissions - even from carbon-free fuels, says BV Alternative fuels may have a carbon-intensive supply chain or emit other greenhouse gases, report argues
Veteran VLCC scrap candidate set to keep trading under Chinese ownership The Rowan was reported sold for recycling in July, only for financing problems in Bangladesh to scupper the deal
Pacific Basin Shipping 'surprised' by strength of bulker markets during macro turmoil Bulker firm has been able to benefit from continued strong demand for minor bulks and is not reliant on China
US condemns Houthi threats to tankers off Yemen's coast United Nations is scrabbling for a new ceasefire deal after a six-month agreement ran out
Tor Olav Troim's Himalaya could sell 'one or two' newbuildings if bulker markets miss forecasts Clarksons Securities says cash is a little tight but owner has some wriggle room through untouched revolving facility
Furetank sells two biogas tankers to Neste ahead of newbuilding arrivals Swedish owner finds buyer for two Vinga-type ships in Finland
Burned-out container ship TSS Pearl reported to have sunk in Red Sea Containers seen floating at the site of Dubai-controlled ship's serious fire earlier in October
South African port and rail strike costs country's miners $44m per day Unions say industrial action may continue for months as ships linger in limbo off loading ports
DOF warns of shareholder wipe-out and bankruptcy if $1.9bn restructuring vote is lost Norwegian offshore shipping group has outlined the dire alternatives to its refinancing deal
Titan aims to bump up bio-LNG supply to 1 million tonnes a year by 2030 Low-carbon fuel supplier aims to be one of first to market with e-methanol or synthetic LNG
Cadeler in 'advanced discussions' over second $345m WTIV at Cosco Oslo-listed owner also raises $95m towards first vessel
Iran storing around 60 million barrels of oil at sea as it awaits the easing of sanctions Contango play is keeping NITC's tankers gainfully employed, but not necessarily on the move
Component crunch puts offshore service vessel newbuilding delivery dates in peril But brokers say owners might be in luck as wind farm projects also running behind time
Polaris Shipping moves to get back on track after a torrid time Ore carrier owner fends off takeover bid with share buyback
Shipowners face zero-emissions bill of up to $450bn, warns DNV DNV's Remi Eriksen explains why the next eight years are crucial in the decarbonisation battle
Iran storing around 60 million barrels of oil at sea as it waits the easing of sanctions Contango play is keeping NITC's tankers gainfully employed, but not necessarily on the move
Navig8 Group becomes latest to take major stake in International Seaways Pool giant follows in path of John Fredriksen and Idan Ofer as holder of tanker owner
Container-ship logjams off US ports finally easing as imports fall Declining imports have led to fewer container ships waiting off ports, injecting more capacity into the market, a negative for spot rates.
Delta cargo revenues maintain altitude despite economic headwinds Delta Air Lines' cargo division had a Goldilocks third quarter: not too cold and not too warm.
Leasing companies secure slots to convert aircraft for cargo Thursday was a busy day for aircraft conversion deals, with leasing companies placing deposits to get passenger aircraft changed into freighters.
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