BOEM sets date for California offshore wind lease sale The Department of the Interior has announced that the Bureau of Ocean Energy Management (BOEM) will hold an offshore wind energy lease sale on Dec. 6, 2022, for areas on the Outer
Kongsberg Maritime tech selected for Stockholm's new autonomous electric ferries The autonomous electric road road ferries that Holland Shipyard is to deliver to the Swedish Transport Administration (Trafikverket Sweden) will feature Kongsberg Maritime technology. Under a contract with Holland Shipyards, Kongsberg Maritime
Eastern Shipbuilding cuts steel for fourth OPC Even as it continues to contest the Coast Guard's decision to award Stage 2 of the offshore patrol cutter (OPC) program to Austal USA, Panama City, Fla., based Eastern Shipbuilding Group, Inc.
Battery-hybrid PSV wins 5-year North Sea contract Skudeneshavn, Norway, headquartered Solstad Offshore ASA reports that it has entered into a long-term contract for the battery-hybrid PSV Normand Falnes with TotalEnergies UK. The contract, which will be for five years
Adani Ports reverses plan to levy extra charges on Mundra box train operations In a significant trade development that presents some cost relief for Indian hinterland shippers amid high freight rates, Adani Ports and Special Economic Zone Limited (APSEZ) has eventually agreed to recall its notices seeking to levy extra user fees on container trains operating to/from Mundra Port, according to industry sources. Mundra is the busiest container handler in India and freight load
Crewman missing after falling overboard Vietnamese bulker One seafarer has gone missing while three others were rescued after falling overboard from a bulk carrier anchored at Taiwan's Kaohsiung port. The Maritime Port Bureau said it received a call for assistance at 5.08 pm local time on 17 October. The bureau stated that four of the 22 crewmen on the 56,000 DWT VIMC Sunrise, owned by Vietnam Maritime Corporation, had fallen into the water while workin
ReCAAP ISC reports significant rise in ship robberies in Asian waters Asian waters saw a 13% rise in armed robbery and ship piracy in January-September this year against the same period in 2021. During this nine-month period, 62 incidents of armed robbery against ships were reported compared to 55 incidents reported during January-September 2021, says ReCAAP Information Sharing Centre (ISC), an inter-governmental agency that works on combating piracy and armed robb
CN Indian container ports report: Box volumes at Mundra Port slip amid trade slowdown effects Mundra Port, India's busiest container harbour, saw a noticeable fall in container movement last month. According to exclusive data obtained by Container News, the volume of containers handled at the Adani Group's flagship port in September declined nearly 6% month on month to 522,483 TEUs, from 554,184 TEUs in August. Of this, the Adani-controlled terminals contributed 444,986 TEUs, compared wi
Dockworkers strike fears at Port of Mobile amid record container volumes A potential dockworker strike might launch at the Port of Mobile in Alabama, US as the International Longshoremen's Association (ILA) Local 1410 and CSA Equipment Company, a stevedoring provider at the port, do not come to an agreement on workers' payments. The union members seem to have turned down a third company offer last month, while the workers at the port of Mobile have been without a cont
Long Beach reports box decline in September Port of Long Beach (POLB) saw its container volumes decrease slightly by 0.9% in September to 741,823 TEUs. The Californian port said diminishing consumer demand, full warehouses and inflation concerns led to the decline. According to the port's data, imports decreased by 7.4% to 342,671 TEUs, exports increased by 1.9% to 112,940 TEUs, while empty containers moved through the port rose 7% to 286,
EU lawmakers call for 2% green marine fuel mandate by 2030 Europe's lawmakers have adopted their position on draft EU rules on the use of renewable and low-carbon fuels in maritime transport (FuelEU Maritime) with a 2% mandate by 2030. The European Parliament wants the maritime sector to cut greenhouse gas (GHG) emissions from ships by 2% as of 2025, 20% as of 2035 and 80% ...
Höegh buys back car carrier for $29.3m Norway's Höegh Autoliners has exercised an option to buy back the 2009-built car carrier from Pioneer Leasing, a company controlled by Credit Agricole. The Oslo-based firm is paying $29.3m for the 7,850 ceu vessel, estimated by three different brokers as worth $70m by the end of Q3. The vessel was one of a series of ...
One missing after four seafarers fall from bulker off Taiwan Taiwanese authorities are searching for a chief officer who fell overboard from a Vietnamese bulk carrier together with three other crewmembers who were injured in the fall but rescued. The incident took place on Monday afternoon while the 56,100 dwt supramax was anchoring 7 nautical miles west of the port of Mailiao in Taiwan. The ...
Ship traffic hit by latest covid outbreak in Ningbo A bout of covid-inspired lockdowns at the world's largest port is having an impact on vessel traffic, despite Chinese authorities insisting volumes are normal. A covid outbreak was first detected in Ningbo on Thursday last week, with a district, Daxie, quickly placed in lockdown over the weekend. By Monday, however, the outbreak had spread to ...
Siem Offshore fined $8m for late vessel delivery to Petrobras Siem Offshore has lost another case against Petrobras related to the late delivery of the oil spill recovery vessels (OSRVs). In a filing to the Oslo Stock Exchange, the Norwegian offshore vessel operator said that its Brazilian subsidiary has been notified of the "final unfavorable decision" of a Brazilian court in the case related to ...
Maritime CEO Forum Monaco: ESG front and centre when it comes to finance The growing primacy of ESG dominated much of discussion at last week's ship finance panel during the Maritime CEO Forum held at the Monaco Yacht Club. While panellists conceded the outlook for the markets remained "fantastic", delegates were warned that financing options could become thinner for those in shipping who have not fully taken onboard ...
CAI International and Beacon Intermodal Leasing to merge Across many strands of the container supply chain the big names keep getting bigger. Japan's Mitsubishi HC Capital has announced this week it is merging two subsidiaries, CAI International and Beacon Intermodal Leasing, to create the world's third largest container leasing company. The merger is planned to become effective on January 1 with the Beacon ...
Solstad's battery hybrid PSV secures five-year contract in UK North Sea Norway's Solstad Offshore has landed a long-term contract with TotalEnergies UK for its battery-hybrid installed large platform supply vessel . The Oslo-listed owner and operator said the 2011-built 5,500 dwt PSV has been fixed for five years, without disclosing financial terms. According to Solstad, the new contract is one of the first long-term agreements awarded ...
New Chinese owner launches liner service to Russia China has a new shipowner, servicing the growing container trade to neighbour Russia. According to Alphaliner, Shenzhen-based Neptune Logistics Group (NEP) has deployed its first ship, the multipurpose vessel . The 443 teu capacity ship will shuttle between Nansha in southern China and Vladivostok in Russia's Far East. The group is also involved in trucking, ...
Seadrill wraps up $628m rigs sale Seadrill has completed the sale of seven jackup rigs operating in Saudi Arabia to subsidiaries of Middle East driller ADES for $628m. The deal included AOD I, AOD II, AOD III, West Callisto, West Ariel (pictured), West Cressida, and West Leda. ADES will also employ the crews operating the rigs and will hold the drilling ...
Contships buys Lomar quartet Greece's Contships Management has purchased four 1,102 teu boxships from Lomar Shipping according to Alphaliner. No price has been revelled for the 2014 to 1016-built quartet, Tokyo Trader, Taipei Trader, Toronto Trader and Trinidad Trader. These vessels are part of a six-vessel series ordered by Lomar Shipping in 2012 from Chinese yard Yangzijiang Shipbuilding. The ...
NASA hails global sulphur cap a success NASA has hailed the beneficial effects of the global sulphur cap to the atmosphere. A newly published study from the American space agency has found that so-called ship track clouds dropped dramatically in 2020, the first year of the implementation of the International Maritime Organization's new fuel regulations. NASA conceded that pandemic-related disruptions played a ...
Euronav continues clearing older ships with latest suezmax sale Belgian tanker owner Euronav continues clearing out older tonnage in the face of the International Maritime Organization's (IMO) new environmental regulations. The New York and Brussels-listed company has offloaded the 2006-built suezmax to an undisclosed buyer for $33m, according to VesselsValue. The vessel is debt free and the deal will generate a profit of $12.9m. ...
NYK to invest in Pertamina Japan's Nippon Yusen Kaisha (NYK) is investing in Indonesia's best-known shipping line, reaching a basic agreement to invest in Pertamina International Shipping (PIS), a shipping subsidiary of Pertamina, a state-owned oil and gas company. The parties plan to conclude an investment agreement and complete the investment by the end of 2022. Specific details of the ...
ZeroNorth unveils AI-enabled fuel model ZeroNorth has unveiled a new artificial intelligence-enabled fuel model which it claims generates 34% more accurate predictions when compared to existing solutions and the current industry standard, and lowers the bias of results by 42%. ZeroNorth claims today's industry-standard fuel consumption tables are generally between 75% and 90% accurate depending on factors including weather and ...
Strike looming at Port of Mobile in Alabama If the International Longshoremen's Association (ILA) Local 1410 and CSA Equipment Company, a stevedoring provider at the Port of Mobile, do not reach an agreement by midnight on October 20, the 800 or so dockworkers represented by the ILA will begin strike action. The union members turned down a third company offer last month. Workers ...
The banks are returning, but who stands to benefit? Erlend Sommerfelt Hauge, co-founder of ship finance platform, Oceanis, has some capital advice for readers. Over the past 18 months banks have made serious efforts to return to the shipping industry. As Splash reported last month, the Petrofin Index for Global Ship Finance, which assesses the level of bank finance available to the industry, showed its first ...
First offshore wind lease sale on US west coast to take place in December The US Bureau of Ocean Energy Management (BOEM) will hold an offshore wind energy lease sale on December 6 for areas on the Outer Continental Shelf (OCS) off central and northern California. This will be the first offshore wind lease sale on America's west coast and the first US sale to support potential commercial-scale floating ...
EU Parliament passes world's first marine fuel targets for decarbonisation 'This is the beginning of the end for fossil fuels in Europe's shipping industry,' says Delphine Gozillon of the Brussels-based...
Efficient shipping requires scale, says Maersk Tankers Efficiency of operations and the ultimate decarbonisation of the industry will not be achieved through the decisions of small individual...
Höegh Autoliners snaps up bargain PCTC from lessor The 7,850 car capacity Höegh St. Petersburg has been purchased from lessor Credit Agricole Corporate and Investment Bank for less...
Two-tier product tanker market helps rates The portion of the world fleet picking up Russian trade will effectively reduce supply for international trades, pushing up freight...
Collisions in Istanbul anchorage as congestion worsens The number of collisions so far this year in anchorages around Istanbul has doubled in the past week to four
Bulker owners pin hopes on China demand revival China's zero-Covid policy has crippled industrial activity, hurting bulk commodity imports, which has kept a lid on upward freight rate...
DP World seeks to boost intermodal connections Romania's industrial hinterland is not well served by the country's infrastructure. Constantza port operator DP World wants to fix that...
Containership charter rates slide further Weak demand and an increasing supply of ships means charter rates are continuing to fall, although the rate of decline...
Lines' logistic play offers limited earnings and sizeable risk Extracting synergies from logistics investments offers container carrier limited earnings potential in the short term, says ratings agency
NYK to invest in Pertamina's shipping subsidiary NYK also plans to collaborate with PIS on carbon capture and storage
Imports of South African coal into EU jump fivefold Coal exports from South Africa have declined 1% this year
Samsung Heavy wins twin VLGC order worth $191m Latest very large gas carrier orders bring the yard's orderbook to 84% of its annual target
Jinhui sells post-panamax bulker pair for $35m Record asset prices for dry bulkers are softening
Daily Briefing Ningbo struggles to unblock cargo flows amid lockdown | Half of Russian ports lose business in wake of invasion |...
Ocean carriers readying more capacity cuts for Q4: analysts Maersk and Wan Hai are throttling back their capacity into the US West Coast amid a severe drop in container freight rates that could lead to even more vessel cuts as the fourth quarter progresses.
Ocean capacity could see 15 percent cut by 2024: analyst A mix of slow-steaming and scrapping in upcoming years due to fuel efficiency rules could cause a significant reduction in ocean vessel capacity.
J.B. Hunt says US supply chain remains slow, but worst could be over J.B. Hunt believes BNSF Railway's service has improved in recent weeks, which could lead to faster turns of containers and lower costs for shippers; but when that happens is still an open question.
US supply chain remains slow, but worst could be over: J.B. Hunt The world's long-haul airlines are celebrating a steady return of passenger traffic, but as planes fill with travelers, weakening freight demand means carriers are struggling to fill the surplus cargo capacity below their feet.
Fleet Enable launches first forecast tool for final mile 'Intelligence' predicts outcomes from volume shifts to revenue Logistics technology innovator Fleet Enable today introduced software that predicts the future for final-mile delivery operators. The company said its Fleet Enable Intelligence tool would forecast everything from warehouse volume shifts to revenue growth. Fleet Enable said 'Intelligence' is the first predictive software produced exclusively for final-mile carriers.
JOC Rankings: Container lines led record transportation revenue growth in 2021 It was the "year of the ocean carrier" as liner operators saw 2021 revenue results that were more than double those of other top 50 transportation providers.
Los Angeles cargo volumes ease as Christmas inventory comes early and inflation persists Ports on the Atlantic and Gulf Coast are now getting overwhelmed with cargo as shippers send their goods there, port's Gene Seroka says
UN says yes to Comite Maritime International on ship sale treaty After 15 years' work by global maritime lawyers, the UN says yes to making sure creditors cannot re-arrest a ship bought in a court sale
Suezmaxes benefit from VLCC strength while delays pump aframax rates Suezmax sentiment is high while aframax owners should see further rate increases, Fearnleys says
Carnival prices private bond offering after boosting to $2bn as coupon rates rise Cruise giant plans to use proceeds from notes to make payments on revolving credit facility
S&P Global Ratings predicts P&I clubs face a 'challenging' renewal Shipowners are likely to resist insurers attempts to raise rates yet again
Green Seas: Does nuclear hold the key for decarbonising shipping? Or should it be off the table? Our environmental sustainability newsletter digs into the prospects for nuclear energy as a carbon-free fuel for shipping
ExxonMobil out of Russia after Sovcomflot tanker dispute US oil major says the Russian government 'unilaterally terminated' its interests in the Sakhalin-1 oil and gas project
Siem Offshore fined $8m for late ship delivery to Petrobras Legal action in Brazil failed to overturn penalty charge
European lawmakers give teeth to tougher greenhouse gas targets Shipowners offer cautious welcome to EU parliament proposal, which puts suppliers on the hook for clean fuels' availability
Will IACS cast EEXI lifeline to older LNG ships? International class society body tackles queries raised on incoming emissions regulations, throwing a possible temporary lifeline to some older LNG ships
Medical charity Mercy Ships sets date for Cargo Day fundraiser Charity is aiming for its best year yet after raising $5m since 2016
Oslo-listed Hoegh Autoliners pounces on leased car carrier for $40m below market price Norwegian owner continues to take advantage of purchase options to build fleet for bargain outlays
'Disgruntled' Ned Sherwood 'points the finger at Reddit crowd' over liner giant Zim's woes Is it 'the Reddit crowd' or more sophisticated investors who are convinced the liner company will lose more share value?
Silicon Valley fund Zeev Ventures enters shipping with $24m raise Big Silicon Valley fund leads funding round for start-up
Japan's NYK Line to take a stake in Indonesia's Pertamina Shipping The companies are drawing up plans for a strategic partnership in energy transportation
Hong Kong trader Gigantic Ozone Energy enters VLCC sector as prices surge New owner of former Angelicoussis tanker has already seen its value increase $9m
United Arab Emirates to ban the beaching of ships flying its flag New recycling regulation is part of broader maritime law that will allow foreign owners to register ships under UAE flag
Atlantska Plovidba bulker back in business after serious summer smash Battered Croatian vessel AP Revelin has been repaired in the US
Investors reject ADS Maritime stock offer as trading price stays lower Owner sells only 200,000 of 34m shares up for grabs
Idan Ofer's Eastern Pacific orders MRs amid surging product tanker rates Owner is said to have taken over newbuilding slots booked by French newcomer
Search on as four seafarers fall from supramax bulker off Taiwan Three injured crew members rescued but chief officer remains missing
Mitsubishi HC Capital creates container leasing giant Japanese finance house is consolidating two subsidiary companies as it targets growth
Tanker newbuilds make little commercial sense, says Ridgebury CEO Burke Low orderbook could keep crude carrier rates buoyant for a couple of years
UK-based Navig8 launches new aframax tanker pool with older Castor Maritime trio UK group starts V8 Plus operation with Cypriot-controlled tankers built in 2005 and 2006
Euronav ships out another old tanker for $13m profit Suezmax Cap Philippe sacrificed on the altar of efficiency regulations
'I want more female seafarers to break the glass ceiling,' says Wilhelmsen Ship Management's first woman captain Company is seeking to provide an environment where women seafarers can thrive
Aponte is sitting comfortably after the container shipping boom - but the good times are over Liner giants have filled their boots with cash in the past two years but the big-money party looks to be coming to a close
South Korean shipyards hit by double whammy on steel plate shortages Shipyards face cost hikes as they are forced to import materials
Jinhui Shipping offloads post-panamax bulker duo for $34.5m Oslo and Hong Kong-listed shipowner said disposals are part of strategy to reduce fleet's age profile
Jinhui turns supramax pure-play with sale of post-panamax duo Oslo and Hong Kong-listed shipowner said disposals are part of strategy to reduce fleet's age profile
Cruise stocks add $2.2bn in market cap as US shipping shares join broader market rally Dry bulk and product tanker shares also join in gains as investor confidence builds in New York
Severe drought grounds barge traffic on Mississippi River Water levels on major US waterway reach lowest points since 1988, barge operator says
Container imports to Los Angeles and Long Beach are plummeting Southern California ports are being hit by double-digit import drops as the COVID-19 cargo boom winds down.
Shifting tides: The fall of container shipping stocks, the rise of tankers As container shipping stocks get battered by collapsing rates, tanker shares could be poised for a long bull run.
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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