ODeX partners with MatchLog - a step towards sustainable development
Allcargo Logistics' CSR arm & World Bunts' Foundation Trust enable rural housing initiative in Dakshina Kannada, Udupi & Kasargod with affordable housing
15 Gati Shakti Cargo Terminals commissioned; 100 is the target
India-UK FTA more important than date: UK Trade Minister
Key dignitaries & noteworthy sessions were the highlight of PM Gati Shakti Multimodal Maritime Regional Summit 2022 jointly organised by JNPA & MbPA
CMA CGM's first container using blockchain tokens!
Prime Minister Narendra Modi reviews progress of National Maritime Heritage Complex at Lothal, Gujarat
Railways hikes wagon registration fee for all goods
Milaha reports 30 pc increase in net profit for the nine months ended Sept. 30, 2022
Addition of a new shipping service connecting King Abdulaziz Port in Dammam to Mundra & 3 other ports
MOL concludes charter agreement for LNG carrier with TotalEnergies
Govt mulling bringing back duty on crude palm, raising RBD duty
India reaches out to Sudan for settlement of trade in rupee
BOEM moves ahead on oil and gas leasing On Tuesday, the Bureau of Offshore Energy (BOEM) announced plans for the first-ever offshore wind lease sale off the U.S. West Coast. Today, with considerably less fanfare and tub thumping, BOEM announced
Gazelle floating wind platform completes model basin tests Dublin, Ireland, headquartered floating offshore wind platform designer Gazelle Wind Power reports that model basin tests have verified the viability of its platform concept. Gazelle, which opened a U.S. office earlier this
Mississippi River water levels: The drought goes on American Commercial Barge Line reports that river levels continue to fall on the Mississippi River with severe impacts to navigation not seen since 1988. "Industry is incurring catastrophic impacts to boat capacity,
SAAM Towage inks deal for its first electric tugboats SAAM Towage, division of SAAM Group, signed an agreement on 13 October with Teck & Neptune Terminals to deploy the first two electric tugs in its fleet. It is envisaged that these new units will reduce 2,400 tonnes of greenhouse gases (GHG) each year. The ElectRA 2300SX tugs have been designed by Vancouver-based Robert Allan and will be built at Sanmar Shipyards in Turkey. "With an overall length
CMA CGM launches new block train service in Turkey French container carrier CMA CGM has announced the start of a new rail service in Turkey, effective from mid-October. The Marseille-based firm said its new bi-weekly block train shuttle from Iskenderun to Gaziantep is expected to offer "very short and reliable intermodal transit time of 1.5 days to Gaziantep Ramp" and "divide by 2.2 the CO2 emission and carbon footprint on the intermodal segment
Saudi Ports Authority announces new service to connect Dammam to global market The Saudi Ports Authority (MAWANI), in order to enhance the direct trade and shipping link between Saudi Arabia and the rest of the world, announced the addition of King Abdulaziz Port in Dammam to its Aladin Express DMCC's shipping service, Gulf-India Express 2 (GIX2). The new service will connect Dammam to the ports of Jebel Ali in the UAE, Khalifa Bin Salman in Bahrain, Hamad in Qatar, and Mun
T&E calls shipping transition to LNG "irresponsible" in times of energy crisis A new study by Transport & Environment (T&E), Europe's clean transport campaign group, predicts that by 2030 Europe's shipping industry will need more than 6.3 million metric tonnes of LNG to fuel its growing fleet of gas-powered ships and as a result, Europe will become more dependent on fossil fuels. The 6.3 million metric tons is enough to power 7 million homes, according to T&E, which has des
TS Lines gets oil spill damage overturned on appeal Taiwan's High Court on 19 October overturned an earlier ruling that obliged TS Lines to pay approximately US$5 million in damages to fishermen whose livelihoods were allegedly affected after TS Taipei, one of the company's boxships, ran aground and broke in two in March 2016. Marine fuel spilled from the wreckage had allegedly affected fishermen in the area, but TS Lines appealed, saying there wa
Electric cranes enter service at Long Beach container terminal Port workers at SSA Marine, one of the Long Beach container terminals, have started to use electric cranes to stack boxes. The goal of the Port of Long Beach (POLB) and its partners is a zero-emission cargo handling fleet by 2030. The Zero-Emissions Terminal Equipment Transition Project, taking place at SSA Marine's Pier J, is largely funded by a US$9.7 million California Energy Commission grant
Teekay sends FPSO for scrap in Denmark Teekay Corporation has contracted Modern American Recycling Services (MARS) for green recycling of its 1996-built floating production storage and offloading vessel . The FPSO will be scrapped after 25 years in operation for BP on the Foinaven deepwater field in the North Sea 193 km west of the Shetland Isles. The unit is expected to ...
2020 Bulkers converts another newcastlemax to fixed-rate charter Norway's 2020 Bulkers has switched another one of its newcastlemax bulk carriers from index-linked to a fixed-rate charter. The Oslo-listed owner's 2019-built has been fixed to trader Koch at $14,392 per day until March 31, 2023. The 208,000 dwt bulker will also earn a premium related to the fuel cost savings of $4,500 per day ...
Bibby to launch marine finance business Bibby Line Group's financial arm for small and medium-sized enterprises, Bibby Financial Services (BFS), has announced plans to launch a European marine finance business next year. BFS said the move will allow the company to expand its financing offers for SMEs, financing ships and vessels ranging from £1m to £10m ($1.1m to $11.3m) in value, ...
MOL seals TotalEnergies charter for LNG newbuild Japan's Mitsui OSK Lines (MOL) has penned a multi-year charter contract with French energy major TotalEnergies for a newbuild liquefied natural gas (LNG) carrier. The vessel is currently being built by Daewoo Shipbuilding & Marine Engineering (DSME) for delivery in 2025. The 174,000 cu m ship will feature a ME-GA engine to cut methane slip ...
DEME teams with LS Cable on Norfolk Boreas wind farm contract Belgium-based DEME Offshore has secured export cable contract for Vattenfall's Norfolk Boreas wind farm in a consortium with South Korea's LS Cable & System. The contract includes the design, engineering, procurement, manufacturing and testing of around 360 km of high voltage direct current (HVDC) export cables and fibre optic cables, including the offshore installation and ...
Shearwater awarded US Gulf of Mexico survey Offshore seismic specialist Shearwater GeoServices has been awarded a large US Gulf of Mexico ocean bottom program, the second project award under the recently announced deal with WesternGeco. The survey is for three months covering an area of approximately 2,400 sq km. Shearwater will deploy its seismic vessels SW Gallien and SW Mikkelsen as source ...
Maritime CEO Forum Monaco: The dangers of complacency for dry bulk Complacency creates a listless market, delegates attending the dry bulk session were told at last week's Maritime CEO Forum held at the Monaco Yacht Club. "The best things we can do for ourselves in dry cargo is to be selfless and not selfish and cooperate and not be complacent," said John Michael Radziwill, CEO and ...
Inactive boxship levels hit two-year high Inactive tonnage as a percentage of the overall container fleet is now at its highest level in two years, according to Alphaliner, the latest in a wide-ranging series of data points highlighting the sector's swift change in fortunes. The proportion of inactive tonnage still remains very low historically, Alphaliner pointed out in its latest weekly ...
Star Capital offloads entire stake in MPC Container Ships UK private equity firm Star Capital has sold its entire holding in the Oslo-listed boxship owner, MPC Container Ships (MPCC). MPCC revealed in a filing that, once its largest shareholder Star Capital Partnership's Star Spike Limited had offloaded approximately 9.99% of its stake and that it no longer holds shares in the company. The shares ...
Mercedes-Benz eyes offshore wind power from 2027 Mercedes-Benz is looking to cover a quarter of its electricity needs in Germany with offshore wind power starting in 2027. The Stuttgart-based carmaker recently penned a deal with a major European energy supplier for an offshore wind farm that will be built in the Baltic Sea. The carmaker, which has set a goal of covering ...
Call for Baltic scrubber ban Yesterday Splash carried studies from NASA suggesting the global sulphur cap had improved atmospheric conditions. However, the controversial International Maritime Organization (IMO) regulation's effect on the sea remains a moot point. New research from Chalmers University of Technology in Sweden suggests the discharge water from ships' exhaust gas treatment systems, so-called scrubbers, is respo
Saipem wins $4.5bn contract from Qatargas Italy's Saipem Saipem has won a $4.5bn contract from Qatargas for the compression facilities package involving its North Field Production Sustainability (NFPS) project off the northeast coast of Qatar. The contract, the largest in the Milan-headquartered company's history, involves the engineering, procurement, fabrication and installation of two offshore natural gas compression complexes aimed a
Key nuclear tests to get underway in the US bringing shipping a step closer to adopting atomic propulsion Southern Company Services (SCS) and TerraPower have built and installed a new test facility at TerraPower's laboratory in Everett, Washington, a development maritime backers of atomic propulsion believe will hasten the uptake of the energy at sea. The integrated effects test, or IET, is the largest chloride salt system in the world and will be ...
Canberra presses ahead with national fleet plans The new Australian government today laid out plans towards the creation of a national fleet, something vehemently opposed by the local shipowning association. A new taskforce has been appointed to speed up the creation of an Australian-flagged and crewed fleet.Infrastructure, transport, regional development and local government minister Catherine King said: "Establishing a strategic fleet made ...
Mubadala buys into GIP's offshore wind developer Skyborn Abu Dhabi state investor Mubadala has acquired a stake in Skyborn Renewables, a German offshore wind developer of Global Infrastructure Partners (GIP). Skyborn, formerly known as Wpd Offshore, has an offshore wind portfolio with a capacity of more than 7bGW with five operating and under-construction projects in Germany, France and Taiwan as well as a ...
SAAM shareholders approve terminals sale to Hapag-Lloyd At an extraordinary shareholder's meeting yesterday, the shareholders of SAAM approved the agreement to sell 100% of the shares of its subsidiaries SAAM Ports and SAAM Logistics, as well as the real estate assets belonging to the logistics business, to the German liner shipping company Hapag-Lloyd, a transaction that was valued at about $1bn. "It ...
California to invest $1.2bn in its ports and freight corridors The California State Transportation Agency (CalSTA) has issued guidelines and a call for projects as the state makes available $1.2bn in one-time funding for port and freight infrastructure projects to build a more efficient, sustainable and resilient goods-movement system. The funding program is intended to enable long-term upgrades that will increase the capacity to move ...
US safety board issues recommendations following Seacor Power capsizing investigation The liftboat capsized in April 2021 off the coast of Port Fourchon, Louisiana during a thunderstorm. Of the 19 people aboard the vessel, six died and seven are missing, presumed dead. Six people were rescued by the US Coast Guard and other vessels. The Seacor Power, valued at $25m, was a total loss. The National ...
What you need to know when sourcing crew from Africa Craig De Savoye on the challenges and opportunities of sourcing the next generation of crew from Africa. Late last month, some of the most powerful figures in the maritime community assembled in Singapore to attend the Maritime CEO Forum, which I lapped up. Carl Schou, president and CEO of Wilhelmsen Ship Management, said Africa was ...
Columbia and Marlow announce 'friendly' demerger Companies have been expanding independently
Australia faces opposition to plan for domestic-flagged and crewed fleet Industry group warns that the task forces' policy goals can either be met at a lower cost or do not...
Global steel forecast to sink into contraction Downward revision likely to hit bulker demand, especially for China-related trades, but a small uptick is expected next year
Berthing time ramps up at Ningbo terminals amid lockdown fallout Increased time at berth comes amid a shortage of container truckers and closures of storage yards. But the situation appears...
Further blankings required in face of looming boxship overcapacity Container capacity supply will rise by more than 10% next year. With demand growing at less than 2%, lines will...
US charges smuggling network linked to sanctioned oil trades US authorities have charged five Russian nationals and two commodity traders in a scheme involving money laundering and sanctions evasion
Owners of crude tankers maintain bullish stance 'Why would anyone be a first mover? The second mouse gets the cheese. The first one gets squashed,' says Ridgebury...
Why shipping is struggling to innovate Shipping is struggling with innovation, but technological breakthroughs are not the problem; the required advances needed are in scalability and...
Silicon hubs and start-ups offer fresh perspectives for shipping Business leaders recognise the significance of start-up thinking, though very few acquisitions of digital businesses by physical product businesses are...
MOL agrees LNG carrier charter deal with TotalEnergies The 174,000 cu m vessel's modern ME-GA engine will help reduce emissions and methane slip
Imports slide further in the ports of Long Beach and Los Angeles Stocked inventories, concerns over the west coast labour negotiations and economic uncertainty weigh on incoming volumes at the west coast's...
Sembcorp Marine wins FLNG projects from New Fortress Energy Hull conversion and fabrication of topsides for the first floating LNG liquefaction facility is scheduled for delivery in the first...
Singapore's economic pact with Australia may lead to green shipping corridors Deal on collaboration to decarbonise operations at sea and at ports, assessing routes, alternative fuel use and bunkering and infrastructure...
Daily Briefing EU Parliament passes world's first marine fuel targets for decarbonisation | Efficient shipping requires scale, says Maersk Tankers | Collisions...
Strong trucking earnings delay shift in pricing power US shippers will win transportation savings in 2023 bids, but large truckload carriers haven't lost all pricing muscle.
Course correction needed in wake of OSRA-22 OSRA-22 was signed into law in mid-June by President Joe Biden.
South African dock strike ends, but disruption to linger 'for weeks' Carriers will continue to skip calls at South African ports next week even with the end of the strike, which has caused widespread disruption to terminal operations with cargo backlogs and omitted calls on key services.
LA-LB cargo flow improves amid diversions linked to prolonged labor talks Reduced backlogs in Southern California due primarily to the diversion of cargo to the East and Gulf coasts has shifted the congestion problems to ports in those regions.
Mobile breakbulk dockworkers avoid strike, head to mediation with employer Union workers at Mobile's breakbulk and general cargo docks are the only ones working for a maritime employer without a ratified contract during the ILA's current 2018-2024 master contract term.
Mobile breakbulk dockworkers head to mediation with employer Union workers at Mobile's breakbulk and general cargo docks are the only ones working for a maritime employer without a ratified contract during the ILA's current 2018-2024 master contract term.
Confusion around ocean freight indexes limits their usefulness: shippers Buyers of ocean capacity have long used freight rate indexes to gauge the direction of the market, but disruption and sky-high costs during the COVID-19 pandemic have elevated their prominence, often leading to difficult discussions with their executive leadership.
IMO 2023 rules to have no significant impact on overcapacity: Drewry A widely held view by carrier executives that the IMO's environmental regulations will absorb a large amount of surplus vessel capacity has been countered by shipping analyst Drewry.
Capesize bulker spot rates slide 4.5% in a day as iron ore and steel prices drop Tight vessel supply should allow spot rates to rise quickly off slight increases in demand, analyst says
International Maritime Security Construct grows with Seychelles membership Indian Ocean island nation joins nine others in the Middle East maritime monitoring group
Matson moves $565m into piggy bank for next ship order Hawaii container ship operator expected to place $1bn order by the end of this year
Streetwise: After a slow start, International Seaways is no longer under the radar in 2022 New York owner of 78 clean and dirty tankers has attention galore from some interesting investors. Our shipping finance newsletter asks, where is it leading?
Nordea's corporate lending drives third quarter profit Major shipping lender says businesses are looking for merger and acquisition deals
Final curtain drawn on dropped Columbia-Marlow merger plan Third-party managers announce divorce after a marriage that was never really consummated
Master fined after double grounding of cargo ship off Denmark The Troubadour ran into difficulty on Wednesday carrying a cargo of cigarettes and vodka
EU recognition of Alang recycling is a 'work in progress', says Maersk The head of responsible ship recycling says two factors are holding Indian breakers back
Russian oil mislabelled? Trick in the works to bypass EU sanctions Sanctions against Moscow open the door to all kinds of shenanigans by profit-seeking players
Russian oil mislabeled? Trick in the works to bypass EU sanctions Sanctions against Russia open the door to all kinds of shenanigans by profit-seeking players
Teekay to scrap FPSO Petrojarl Foinaven at MARS in Denmark European outpost of US recycling yard group wins contract to dismantle North Sea production unit
Maersk 'gets creative' in race for new ship recycling sites Executive Captain Prashant Widge says partnerships can open up much-needed capacity for old container vessels
IACS nears completion of work on application of EEXI regulations International class society body tackles queries raised on incoming emissions regulations, throwing a possible temporary lifeline to some older LNG ships
Juicy NEC cable-layer charter reveals a shift to telecoms Broker estimates Japanese group will be paying between $50,000 and $60,000 per day for UK ship
Newcomer Arctic Container Line unveils expansion plans Deal with Dutch agency will help expand reach of liner upstart to more ports
2020 Bulkers switches newcastlemax to fixed deal as rates soften The Bulk Sandefjord will earn $14,392 per day to the end of March
DNB adds $211m of shipping loans as impairments reversed Major Norwegian lender says maritime markets are stable, while offshore credit quality improves
Feasting and folklore light up Navigator Forum on Aegean islands More than 250 participants talk shipping and have a great time on the Aegean
MOL finally confirms LNG newbuilding charter deal with TotalEnergies In July shipowner was rumoured to have emerged as the lone winner of tender launched by energy major but rates have since climbed
Tufton Oceanic principals build stakes in share deal spree Executives take advantage of falling share price in 2022
'Great interest' in MPCC shares despite weak markets as Star Capital exits London-based fund sells remaining stock after $93m disposal in March
Russian traders arrested over dark fleet oil exports to sanctioned oligarch US prosecutors reveal case against alleged sanctions-busting ring after arrests of two key players
Samsung Heavy makes VLGC debut with Eastern Pacific newbuilding deal Sources name the Singapore player as the owner of the dual-fuelled gas carriers
UK private equity fund Star Capital dumps MPCC holding as markets weaken London-based fund sells remaining stock after $93m disposal in March
Australia faces blowback over task force to launch national fleet Industry body Shipping Australia says such operations tend to do more harm than good
Will the IMO's Carbon Intensity Indicator matter? That depends The market impact of the new global regulation will largely depend on the strength of its 'commercial teeth'
Transatlantic freight rate boom threatened as ocean carriers pile in Trade has emerged as one of container shipping's biggest earners
Keppel and Yangzijiang Finance top of the league for Singapore share buybacks The two companies are also among the leading buyers of their own shares in the year-to-date, says SGX
Stifel slashes Matson target value by $481m as 'rates fell faster than we expected' Investment bank knew a slump was coming for Hawaii liner operator, but not this quickly
Here's how container shipping lines can escape a crash in 2023 Shipping lines face a minefield of surging capacity and sinking demand, but there is a path to safety, claims one industry expert.
South Florida Container Terminal orders 12 electric gantry cranes South Florida Container Terminal has ordered 12 electric, emission-free, rubber-tired gantry cranes and welcomed the launch of CMA CGM's Medgulf service at PortMiami.
Flexport juices trade finance program with $200M credit line from KKR Flexport is an international logistics provider that also acts as a bank for customers that need more liquidity when sourcing goods from overseas.
American Airlines cargo revenue retreats 16% in Q3 The air cargo market's deceleration this year had a greater impact on third-quarter cargo revenues at American Airlines than its primary rivals, Delta and United...
Airlines fill less cargo space as consumer spending, trade sag The air cargo market is full of contradictions. Shipments and rates are falling and a recession is looming, but business is better than in 2019.
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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