Gujarat Junction 2022 & Exim Star Awards to see eminent sectoral participation
Over 250 infrastructure projects examined in the last one year by using PM Gati Shakti National Master Plan
Shippers still find ocean freight booking for shipper-owned containers (SOCs) challenging: Survey
Bahri bags two awards in Dubai
Zim registers higher revenues
Capturing additional details for Certificate of Origin (COO) as per Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020 in Bill of Entry
DGFT notifies export of sugar to EU & US under TRQ scheme
Banks permitted to open Vostro accounts for rupee trade
Black Sea Grain Initiative renewed Exports of Ukrainian grain are set to keep moving. UN Secretary-General António Guterres today welcomed the renewal of the Black Sea Grain Initiative, which had been due to expire on Saturday. More
Disney to complete and transform former Global Dream The giant cruise ship left partially completed in the wake of the collapse of Genting Hong Kong has been acquired by Disney Cruise Line. The ship, formerly known as Global Dream, will
Molslinjen selects Echandia batteries for new all-electric RoPax ferries Two new all-electric RoPax ferries on order at Cemre Shipyard in Turkey for Denmark's Molslinjen A/S will have Echandia energy storage solutions. Designed by OSK-ShipTech A/S, the double-ended ferries will have a
BOEM announces 8 central Atlantic draft WEAs The Bureau of Ocean Energy Management (BOEM) yesterday announced eight draft Wind Energy Areas (WEAs) offshore the U.S. central Atlantic coast, opening up a public review and comment process, The draft WEAs
Scrubber retrofits pay off for Safe Bulkers In recent years, NYSE-listed Safe Bulkers Inc. has retrofitted Alfa Laval PureSOx exhaust gas cleaning systems on 20 of its bulk carriers. It recently installed its 21st PureSOx scrubber, and four more
Bill to modernize Port of Pittsburgh commission signed into law Sen. Devlin Robinson's (R-37) bill to modernize the Port of Pittsburgh Commission, overseeing 200 miles of Pittsburgh region waterways, was signed into law November 3. Act 161 of 2022 will reduce the Port of
Unions support Australia's Commission decision to block Svitzer's planned lockout Trade unions have welcomed a strong rebuke of Maersk-owned Svitzer Australia by the Fair Work Commission (FWC) after the court blocked the company's planned lockout of its entire Australian workforce which was due to begin on 18 November. Australia's FWC stated that Svitzer's announcement has caused the Commission to consider making an order on its own initiative to suspend or terminate protected
MABUX reports irregular changes for fuel indexes According to the weekly outlook of Marine Bunker Exchange (MABUX) for bunker prices, fuel indices demonstrated irregular changes. The 380 HSFO index rose to US$518.65/MT, the VLSFO index, in turn, fell by US$16.60, reaching US$761.69/MT and the MGO index also lost US$29.85, reaching US$1,130.70/MT. Global Scrubber Spread (SS) - the price differential between 380 HSFO and VLSFO - continued its fir
Government of Canada invests in Port of Prince Rupert The Government of Canada said it is committed to strengthening supply chains in the country in order to enhance the national economy. On 16 November, the minister of transport, Omar Alghabra, announced an investment of nearly CA$75 million (US$56 million) under the National Trade Corridors Fund to increase capacity at the port of Prince Rupert. With Trigon Pacific Terminals Limited's contribution
NWSA sees lower box volumes Total container volume at the Northwest Seaport Alliance (NWSA) decreased 13.6% to 272,129 TEUs in October, with full imports and exports declining 22.5% and 28.2%, respectively. Additionally, January to October volumes declined 8% to 2,905,183 TEUs, with full imports and exports declining 12.5% and 22.4%, respectively. According to NWSA, a partnership of the ports of Seattle and Tacoma, exporter
SC Ports achieves strong container numbers in October South Carolina Ports (SC Ports) handled an increased number of containers in October, marking it the third busiest month in its history. SC Ports reported 9% year-over-year container growth with 256,879 TEUs passing through Wando Welch Terminal, North Charleston Terminal and Hugh K. Leatherman Terminal in October. When accounting for boxes of any size, SC ports handled 142,276 pier containers las
Concor presents volume-linked rail rebates for empty boxes amid cooling demand Container Corporation (Concor), the largest intermodal logistics provider in India, is adopting proactive ways to reinvigorate train loads as export/import trade volumes trend down. Concor has put out an advisory offering extra tariff incentives for empty movement, subject to incremental import volumes handled/committed by carriers. "With a view to support the EXIM (Export-Import) trade at variou
US woman's corpse found in container in Taiwan's Taichung port A woman's corpse was found in a container in Taiwan's Taichung port on 16 November. Due to a stench emanating from the container at berth 32, port workers opened the purportedly empty box, and made the gruesome discovery. The police were notified around 3 pm (local time). Police are investigating the circumstances surrounding the discovery of the heavily decomposed corpse, which had no noticeable
CMA CGM upgrades JEDDEX service French ocean carrier CMA CGM has enhanced JEDDEX service to connect Europe and Red Sea with African countries, Kenya and Mayotte, offering weekly departures. The service will now cover the Indian Ocean market with the inclusion of the port of Longoni on top of Mombasa. CMA CGM said that JEDDEX service will now be offered in 42 days with six vessels with up to 1,700 TEU capacity. The port rotation
Hong Kong special launches Ahead of Sunday's launch of Hong Kong Maritime Week, Splash today publishes a special 56-page magazine taking a frank look at the maritime status of the Special Administrative Region (SAR). Hong Kong maritime faces its greatest challenge to remain relevant and in the mix among top shipping hubs. Covid and a national security law have ...
Performance Shipping swoops for Latsco's LR2 Nasdaq-listed Performance Shipping is expanding its fleet with the acquisition of the 2013-built LR2 aframax oil product tanker. The Greek owner has snapped up the 105,408 dwt from compatriot Latsco Shipping, paying $43.75m. Latsco bought the same vessel for $29.5m from Turkish owner Marinsa Shipping in 2018. The Hyundai Heavy Industries-built ship, VesselsValue estimated as ...
Angelicoussis sets sights on bulkers that produce hydrogen fuel from LNG on board Maran Dry Management, a unit of Greek owner Angelicoussis Shipping Group, has partnered with Italian class society RINA and Chinese designer Shanghai Ship Research and Design Institute (SDARI) to develop a newcastlemax bulk carrier that can run on hydrogen produced from LNG on board. The project for the 210,000 dwt vessel will be based on ...
Cecon taps Turkish yard for methanol-fuelled cable layer Oslo-headquartered Cecon Contracting has contracted Sefine Shipyard in Turkey for the construction of a methanol dual-fuel cable-lay vessel. The vessel, designed by NSK Ship Design together with Cecon's engineering team will deliver in the first quarter of 2025. "One of the main design objectives has been to develop a modern environmentally friendly cable ship without ...
Minority shareholders seek to replace DOF's board Minority shareholders of financially-troubled Norwegian offshore vessel owner DOF are asking for a new board of directors shortly after the company's proposed rescue plan was voted down. DOF said in a regulatory filing a request for an extraordinary general meeting to elect the new board had been submitted on behalf of Bjarte Brønmo and Sans ...
Black Sea grain deal extended for four months A deal to allow Ukrainian grain exports from Black Sea ports has been extended for 120 days. The extension was announced by Turkish President Recep Tayyip Erdogan and UN Secretary General Antonio Guterres as well as Ukraine's President Volodymyr Zelenskyy. "I welcome the agreement by all parties to continue the Black Sea Grain Initiative to ...
Technip Energies, JGC and KBR awarded FEED contract for Nigeria's first FLNG project Nigeria's first-ever floating liquefied natural gas (FLNG) project is pressing ahead with the award of front-end engineering and design (FEED) work. The project led by Nigerian independent UTM Offshore has contracted Paris-based Technip Energies, Japan's JGC, KBR and the US services giant KBR for the job. With a capacity of 1.2m tons per annum, the ...
US blames Iran for Tuesday's drone attack on Eastern Pacific product tanker The US has said Iran was behind this week's attack on Eastern Pacific Shipping's product tanker . The Singapore-based company run by Idan Ofer said the vessel, carrying a cargo of gas oil, was hit by a projectile in international waters some 150 miles off Oman at about 15.30 hrs on Tuesday. All crew were ...
Kent scores three-year North Sea contract with Ineos Oil and gas and low-carbon energy engineering company Kent has secured a three-year framework contract for structural integrity analysis modelling services on Ineos' Southern North Sea assets. The contract, for which the value has not been disclosed, covers existing offshore facilities at the Breagh Alpha and Clipper South platforms. The project will be led by ...
Australia's Fair Work Commission rules Svitzer cannot lock out staff Australia's Fair Work Commission has averted a ports shutdown, ordering Svitzer, the nation's top towage operator, to scrap its planned lockout of tugboat workers tomorrow. The commission said today that the lockout of maritime workers would cause significant damage to the Australian economy. Svitzer, owned by AP Moller-Maersk, announced on Monday its intention to lock ...
Octopus Renewables ups stake in floating wind developer Simply Blue Octopus Renewables Infrastructure Trust (ORIT) has invested an additional €6.25m ($6.5m) into Simply Blue Holdings, the parent company of the Simply Blue Group (SBG), an Irish developer of sustainable marine projects focused on floating offshore wind. ORIT first invested in SBG in August last year for about a 12% stake, and the latest investment will ...
Castor Maritime moves to spin off tankers into new US-listed vehicle Nasdaq-listed bulker and tanker owner Castor Maritime has moved to spin off its tanker fleet into a newly formed subsidiary, Toro, and have its common shares listed on Nasdaq. The move will see Castor shareholders receive two common shares of Toro for every five Castor common shares held at the close of business on December ...
Iran and Greece reach tanker truce Iran confirmed yesterday the release of two Greek tankers that it seized in May, while at the same time Athens has let a detained Iranian-flagged tanker leave its waters. The Greek shipping ministry confirmed the vessels Prudent Warrior and Delta Poseidon had left Iran. "Today is a very pleasant day for our sailors, but also ...
Startup alliance Ocean Founders launches Ocean Founders, a collective of maritime tech founders has launched to advocate for industry step changes which could reduce friction for innovation and amplify resources for startups facing go-to-market hurdles. "The maritime value chain is too complex for a single actor to innovate alone. While ecosystem support services are developing around us, the voices of ...
Shipbrokers Reloaded Gas freight trader Panos Patsadas on the changing role of shipbrokers. Before the onset of covid, and all the disruption that came with it, the big hype pre-2020 was all about data and digitalisation. And to be fair, significant progress has been made in this direction. Remote working has heavily pushed shipping to embrace the ...
Peter Levesque named new president of CMA CGM America and APL The CMA CGM Group has announced that Ed Aldridge, president of CMA CGM America and American President Lines (APL), will retire on December 6. Peter Levesque, a global supply chain executive with more than 30 years of industry leadership experience, will assume the presidency of both CMA CGM America and APL upon his departure. Levesque ...
Canada invests in Port of Prince Rupert to increase supply chain capacity Canada's Minister of Transport Omar Alghabra on Wednesday announced an investment of nearly C$75m ($56.2m) under the country's National Trade Corridors Fund to increase capacity at the Port of Prince Rupert on Canada's Pacific coast, north of Vancouver. The port is Canada's third largest, after Vancouver and Montreal. With a contribution from Trigon Pacific Terminals ...
Castor Maritime to spin off tankers into new US unit New tanker outfit Toro aims to expand fleet mainly through secondhand acquisitions
Time charterers to take responsibility for Carbon Intensity Indicator compliance BIMCO's documentary committee has drawn up a set of words that will act as a starting point for negotiations between...
DFDS raises outlook but expects freight volumes to weaken further Ferry division revenue increases 53% after passenger volumes quadruple, while freight revenue remains flat
Shell Marine develops lubricants to tackle emission rules 'We expect different ship types or shipping sectors to transition from today's fuel oil to different zero-emission fuels and to...
Ukraine war risk rates steady despite missile strike in Poland 'If the Russians would allow free trade in and out of the Black Sea, the rates would be lower,' says...
Star Bulk keeps faith in dry bulk despite profit dip Two out of the company's three bulkers trapped in Ukraine have now sailed and are trading normally
J. Lauritzen chief aims to double investment within years Chief executive tells Lloyd's List he is looking to invest in ESG-focused entities serving the maritime industry as mainstream segments...
Carriers will face tough challenges in 2023 Inflation and slowing economic growth are lowering the demand for shipping containers. However, a large number of ships ordered in...
MPC Container Ships 'cautiously optimistic' over charter market The Oslo-listed, non-operating boxship owner reports record quarterly earnings. High charter rates during most of the third quarter boosted earnings
Pilot project to share voyage data aims to cut emissions 'It is crucial for shipowners to accelerate the reduction of greenhouse gas emissions from their operations and for charterers to...
Svitzer Australia says lockout will not proceed The lockout would have disrupted shipping operations across 17 ports handling coal, iron ore, fertilisers, agri-products, containers and general cargo
BYD eyes supply chain integration with newbuild order Sources close to the shipping industry say that Chinese car maker BYD has ordered two 7,000 ceu class pure car...
Black Sea Grain Initiative renewed Black Sea Grain Initiative has been extended for 120 days under the same conditions
CMA CGM names Levesque as president of US businesses Peter Levesque replaces Ed Aldridge, who is retiring after 14 years at the French container giant
Singapore to manage fund to combat oil pollution The fund is a long-standing shared initiative between Indonesia, Malaysia, Singapore and the Malacca Strait Council to ensure that some...
Maritime start-up network launched to push innovation The Ocean Founders initiative will give the industry a chance to hear from the heart of innovation. It will also...
Daily Briefing Iran releases Greek hostage tankers | Iran suspected of Eastern Pacific tanker drone attack | More sanctioned tankers lose flag
Oil demand growth to slow by almost 25% in 2023, says IEA A European Union ban on seaborne exports of Russian crude will force Moscow to redirect about 1.1m barrels per day...
Trans-Pacific volume decline picks up pace in October Plunging imports from Asia in October, normally one of the busiest months of the year, signals a continued "flattening" of eastbound trans-Pacific demand in the coming months, according to Ben Hackett, principal at Hackett Associates.
NY-NJ swept of more empties as West Coast diversions grow The backlog of empty containers at the Port of New York and New Jersey continues to drop, allowing the port to better handle the increasing volumes of freight being diverted from the West Coast.
Shipping Containers' New Digital Trading Future, with BOXXPORT In the logistics industry, there are various variable costs, and some of these, unfortunately, are out of the control of a traditional company's scope. With the current rise of diesel, many of the key players of the supply chain have been affected; some of them include, manufacturers, shippers, wholesalers, and distributors before ending up with higher factory-gate prices and, ultimately, higher
US wholesale trade data shows industrial economy still resilient: analyst To the extent freight market participants have greater exposure to key industrial markets than consumer markets, current data is not pointing towards sharp downturns in freight demand, at least not yet, writes JOC analyst Jason Miller.
New IMO carbon intensity rule short on enforcement: Maersk New energy ratings for ships to be imposed next year are a meaningful step toward decarbonizing the maritime industry and should not be a "box-ticking exercise," according to Maersk.
New Maersk regional string gives Indian exporters more transshipment options The new Maersk service is expected to drive more cargo volumes for India's Mundra port, which has already ousted JNPT as the country's busiest container gateway.
How many tankers could be pulled into sanctioned Russian trades? 56 or 100 or 178 Vortexa says Of the ships carrying Iranian oil, most have some likelihood of switching over to Russian trades
Shipping outperforming broader M&A market as owners chase deals Better equity trading is helping to drive deals even as broader market slumps, says Evercore expert
'This could get crazy' Bugbee says, as Scorpio fetches strong rates on non-traditional routes Not only has the tanker party not yet begun, but partygoers are still warming up, says Scorpio Tankers president
Diana Shipping beats analyst consensus after netting higher bulker time charter rates New York-listed owner posted $31.7m profit for third quarter
Copy that: the Xerox machines told Peter G he was done with private equity Famed New York shipowning pioneer emerges from "laying low" and characteristically doesn't pull any punches
Diana Shipping beats analyst consensus after achieving higher time charter rates for its bulkers New York-listed owner posted $31.7m profit for third quarter
Flex LNG: No on newbuildings, maybe on consolidation and yes on dividends Chief executive Oystein Kalleklev said the company 'might' pursue mergers and acquisitions
GoodBulk pays super-sized dividend after lucrative capesize sales Capesize owner is keeping an 'opportunistic' attitude to buying and selling vessels going forward
Public vs private: Which is best for LNG carrier owners? GasLog found a long-term partner by going private, while Flex LNG enjoys the discipline that comes with a public listing
Post-merger Hoegh LNG Partners turns in improved charter revenue Master limited partnership of Norwegian floating regasification specialist has signed off from NYSE
Latsco banks profit as Performance Shipping snaps up LR2 Greek owners strike deal for Fos Hamilton against background of steep asset appreciation
IMO urged to ban Arctic fuel oil waivers as Russia and Canada declare opt-out Clean Arctic Alliance highlights that there is no date given
Time charterers should be responsible for CII, says Bimco Bimco's long-awaited CII clause has dropped, aiming to help owners struggling with commercial effects of carbon regulations
Streetwise: Finance costs are a struggle for some, more a yawn for others This week's edition of our Streetwise finance newsletter examines what public shipowners are saying about higher interest costs as the Federal Reserve sharpens its pencils for another rate hike
Divide and conquer: Castor Maritime reveals tanker spin-off plan in the US Cypriot owner follows massive growth drive with formation of new company Toro Corp
Angelicoussis Group developing bulker that produces hydrogen on board Greek owner's Maran Dry Management teaming with Rina and SDARI for innovative dual-fuel newcastlemax
Joakim Hannisdahl free to operate after overturning Cleaves court injunction Norwegian shipping fund manager had earlier been barred from competing with former employer until 2023
Disney announces purchase of Genting's unfinished cruise ship behemoth Global Dream will be "reimagined" at the former MV Werften before entering service in 2025
QVT sells down at a discount as Okeanis share builds value The second-largest shareholder in Oslo-listed Okeanis Eco Tankers has sold down despite a postitive outlook
IMO to discuss treatment of accused seafarers amid Heroic Idun controversy Global maritime body says it has been in touch with all parties in the three-month dispute
West of England P&I club targets a 10% general increase from shipowners to 'counter inflation' Chief executive Tom Bowsher says the mutual's financial performance is improving
Lunges and burpees: Clarksons brokers raise record £250,000 for charity Punishing fitness day saw best-ever total raised for UK group's charitable foundation
DOF on the brink as banks warn rebels the time for talking is over Lenders ready to keep offshore vessel group running as a going concern, however
BW's Cadeler boosts management team with former Maersk executives Wind farm vessel operator adds legal, personnel and technical expertise to its operations
BW LPG reveals five VLGCs joining its pool after Vilma takeover Kristian Sorensen talks market consolidation through Spanish acquisition
Panama Canal auctions 'explode' as owners pay $2m for a slot Cost of jumping big queues at key waterway are revealed by BW LPG
Greek shipowner Laskaridis to power bulker with methanol fuel cell system Greek owner in pilot project with Bureau Veritas to understand how high-temperature fuel cells can work on an ultramax
Ukraine and UN announce extension of Black Sea grain deal UN says 'discreet diplomacy' led to Russia accepting the extension
Grindrod reveals weaker profit ahead of takeover by TMI Singapore owner says demand is softer this year but low orderbook persists
Hoegh LNG Holdings pays out as it preps FSRU trio for long-term charters Red ink increases for Norwegian regasification specialist but fleet is sold out with remaining ships due on hire in next three to six months
Eastern Pacific Shipping axes car carrier sale for big-ticket charter profit Idan Ofer-controlled company charters out PCTC for three years for about $82m - more than the vessel's market value
MPC Container Ships boost profits and dividends with further vessel sales Oslo-listed again company raises full-year forecast and recruits former Hayfin man
US: Iran-made drone behind EPS ship attack Drone was designed by company sanctioned by the US earlier this week for sending weapons for use in Ukraine
United Maritime's Tsantanis promises more purchases after quick tanker sales Greek owner's chief executive says balance will be struck between investments and rewarding shareholders
Belgian shipowner CMB doubles down on newcastlemax spending spree Owner lifts its 210,000-dwt dual-fuel orderbook at Qingdao Beihai to 20 units
Tanker rate rally fires up profit at Malaysia's MISC Shipowner says rebounding oil production and shift to longer-haul trade flows driving rate increases
Ex-Modec pair charged in Singapore for corruption and money laundering Japanese company said allegations were made by a whistleblower via its internal reporting system
Maritime start-up alliance aims to smooth path to success for newcomers Ocean Founders aims to give a candid view of hurdles, progress made and opportunity gaps to leverage on
Japanese shipowners turn to the S&P market as yard prices soar Private investors are increasingly putting their cash in sale and charter-back lease deals
Star Bulk frees two of three vessels from Ukraine waters under grain pact New York-listed owner rolls to third-quarter profit but misses analyst expectations in weaker market
Watchdog finds DOT could be hindering infrastructure grants A GAO report recommends DOT better explain its grant-funding procedures so that applicants won't overestimate how much money they must contribute to qualify for funding.
CMA CGM, Hapag-Lloyd announce leadership changes in North America Ed Aldridge is retiring from CMA CGM America, and Uffe Ostergaard is leaving Hapag-Lloyd.
Amazon air cargo service takes wing at Manchester-Boston airport Amazon has rented a new air cargo facility in New Hampshire and launched daily freighter service to shorten delivery times.
Recovery mission continues for cargo airplane - 70 years later In 1952, a C-124 flew straight into a remote Alaskan mountaintop, killing all aboard. Here's the story of what it's taking to bring them home.
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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