Big dredge: Big RudderPropellers Currently under construction at the Keppel AmFELS shipyard in Brownsville, Texas, Manson Construction Company's 15,000-cubic-yard capacity, 420 foot long Frederick Paup will be the largest U.S.-flagged, self-propelled hopper dredge in the United
Carnival says momentum "bodes well for 2023" When is a U.S. GAAP net loss of $1.6 billion and adjusted net loss of $1.1 billion any kind of good news? When you're Carnival Corporation & plc (NYSE/LSE: CCL) and analysts
Caterpillar Marine, Jackson Offshore to collaborate on hybrid solutions Caterpillar Marine and Harvey, La., headquartered Jackson Offshore Operators LLC are to pilot an integrated hybrid energy solution aimed at reduction of fuel consumption and diesel exhaust emissions. The technology will be
Dredging giant gives a profit warning In an update on its fourth quarter 2022 operations, America's largest dredging contractor, Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD), says that revenues and gross profit margins for the quarter are
New generation heavy lift ships will be green methanol ready A series of new-generation heavy lift ships includes a methanol dual fuel hybrid propulsion plant as part of German operator SAL Heavy Lift's commitment to decarbonization. Called the Orca Class, they are
MSC completes acquisition of Bolloré Africa Logistics MSC Group confirmed that its wholly owned subsidiary SAS Shipping Agencies Services has completed the acquisition of Bolloré Africa Logistics . The Swiss/Italian company said the transaction was approved by all applicable regulatory authorities. MSC's acquisition of Bolloré Africa Logistics SAS and its affiliates 'Bolloré Africa Logistics Group' highlights the long-term commitment of MSC to inves
Port of Prince Rupert activates shore power to container terminal for vessel emission reduction The Port of Prince Rupert has achieved a significant milestone in its emissions reduction measures with expanded shore power capacity at DP World Prince Rupert's Fairview Container Terminal. New electrical infrastructure was installed at the terminal's north berth and upgrades were made to the south berth through a partnership between the Prince Rupert Port Authority (PRPA), DP World, and BC Hydr
NWSA container volumes plummet in November Total container volume for Northwest Seaport Alliance (NWSA) decreased 24.1% year-on-year in November falling to 247,034 TEUs, with full imports and exports declining 31.1% and 17.5% respectively. Year-to-date volumes declined 9.5% to 3,152,217 TEUs, with full imports and exports declining 14.2% and 21.8%, respectively. Moreover, according to the alliance of the ports of Seattle and Tacoma, the e
Port Houston achieves 11% container growth in November In November, container volume at Port Houston grew by 11% compared with the same month last year, reaching a total of 348,950 TEUs. The previous month was the fourth-highest month ever for container handling at Port Houston's Barbours Cut and Bayport terminals. Meanwhile, Port Houston's container volume from January to November is up 17% from the same period in 2021, totaling 3,682,874 TEUs. Port
GEODIS opens new facility in Germany GEODIS has officially put a newly built multi-user logistics facility into operation in Aurach, Germany in the district of Ansbach. The new facility offers direct transport links to the Nuremberg metropolitan region, while it has 26,757 Euro pallet spaces in the high-bay warehouse and 9,000 m² of block storage space and is equipped with a photovoltaic system. GEODIS believes that with the new log
Port of Los Angeles invests US$6 million in zero-emission trucks The Port of Los Angeles has awarded a total of US$6 million to two trucking companies and their truck manufacturer partners to speed up the transition to zero-emission (ZE) drayage trucks serving the port. The grants are going to defray the cost of putting 22 pre-production emissions-free models in port service during 2023. "Developing and deploying zero-emission trucks are critical to the health
PIL completes first reefer delivery of fresh avocadoes to Singapore Pacific International Lines (PIL) announced that it has made its first delivery of fresh avocadoes to Singapore from Australia using its latest 40" high cube Controlled Atmosphere (CA) refrigerated containers. The batch of avocadoes was produced in Fremantle, Western Australia, a key premium fruits growing region. According to the Singaporean ocean carrier, CA reefer boxes are specialised contain
Why Oil and Gas Companies Use Modified Shipping Containers While researching the oil and gas industry, you will be intrigued to discover that large producers rack up about US$200 billion in revenue yearly. But what if you want to delve deeper into the topic? The first question you might need answers to is how to land a job in the said industry. And you will be glad to find out that although it's no easy feat, an oil and gas resume writing service can hel
Declining trade is testing shippers' patience, pockets and commitment: Container market review As global trade declined during the second half of 2022, in response to severe economic headwinds in many countries and the continued effects of the Covid-129 pandemic, the Global Shippers Forum (GSF)/MDS Transmodal Container Shipping Market Review reflected the impacts on the activity and fortunes of shippers of unitised goods in international trade. The latest edition of the Container Shipping
Yinson agrees short-term extension for Nigeria FPSO Malaysian floater operator Yinson has secured a short-term charter extension deal for its floating production storage and offloading (FPSO) vessels in Nigeria. The 1985-built has been fixed to Sinopec's Addax Petroleum Development until January 16, 2023 in a deal worth around $3.4m. The unit has been operating in Block OML 123 offshore Nigeria. The vessel's ...
DOF Subsea wins Malaysian contract Norwegian engineering and marine services player DOF Subsea, a subsidiary of offshore vessel owner and operator DOF, has been awarded a construction support contract in Malaysia. The Oslo-listed company's Asia Pacific unit will provide support for riser and spool installation including air and saturation diving associated with a brownfield expansion project. The contract, with an ...
Shipping heavyweights hit out at BIMCO's CII clause Heavyweight shipowners and charterers, including Mediterranean Shipping Company (MSC), A.P. Moller - Maersk, Oldendorff Carriers, Trafigura and Vitol, have strongly criticised BIMCO's Carbon Intensity Indicator (CII) operations clause, which makes charterers contractually responsible for the CII performance of their hired ships. New regulations on the carbon intensity of international shipping wi
Shareholders back Frontline's move to Cyprus Shareholders have backed John Fredriksen's plans to redomicile Frontline from Bermuda to Cyprus. Iris House at 8, John Kennedy Street in Limassol will serve as the new headquarters for the tanker giant, from where Fredriksen will now plot out the moves to combine his company with rival Euronav, something that is scheduled to happen within ...
Hanwha seals DSME takeover The Korea Development Bank (KDB) has announced that Hanwha Group officially acquired Daewoo Shipbuilding & Marine Engineering (DSME) in a deal worth KRW2trn ($1.5bn) .Hanwha Group now owns a 49.3% controlling stake in the giant shipbuilder. \ "Several structural changes to DSME's finances will be made through this acquisition, laying the groundwork for the normalization ...
MOL and GAIL strengthen gas partnership Japan's Mitsui OSK Lines (MOL) GAIL, India's largest public utility, have signed a time charter contract for a newbuilding LNG carrier and a joint ownership of an existing LNG carrier. The newbuilding vessel will be the second MOL Group LNG carrier serving GAIL; the parties signed a contract for the first vessel in 2019. MOL's ...
Technology and data will support stability in a time of upheaval In 2023, a more proactive mode of management with data at its heart will be taken up to comply with incoming regulations and deliver safer, more efficient operations, writes Sasha Heriot from Wärtsilä Voyage. As regulatory pressure to decarbonise ramps up, data-driven decision-making will be the easiest, most effective way for organisations to start curbing ...
Why Shipowners' Club is happy to stay small and boring 'In terms of a new chief executive with a new masterplan, there isn't one,' admits Simon Peacock, who takes over...
MSC clinches takeover of Bolloré Africa Logistics Switzerland-based container giant completes $6bn transaction to add Africa's largest transport and logistics operator to its empire
Big names slam BIMCO's CII clause as 'unusable' Major companies such as MSC, CMA CGM, AP Moller-Maersk, Oldendorff, and Trafigura say that the clause, as adopted, will likely...
Crew evacuated from burning multi-purpose cargoship Four crew members have been seriously injured following a fire in an accommodation block on a ship. Search and rescue...
Maritime's cultural transformation demands leadership focus Recruitment specialist Heidi Heseltine has been analysing data that shows the old employment boundaries no longer exist. The data also...
Delta Tankers sells four ice-class aframaxes for $35m each Ice-class aframax tankers that can load and ship Russian crude from freezing Baltic ports over winter are one of the...
Tanker values still rising on back of Russia-related trades 'If Russia still requires extra shipping capacity beyond the tonnage it currently has access to, then further upside in second-hand...
Innovation through the merger of maritime and non-maritime expertise The key, say chief technology Officer Marlon Grech and chief product officer Christopher Saunders, is to keep innovating, asking why...
MSI bearish on dry bulk shipping outlook Freight markets of dry bulk ships across the board are expected to soften further in the coming months
Cases of seafarer abandonment reach record levels New guidelines encourage flag states to verify, at least annually, the validity of the financial security in place against each...
MOL agrees time charter contract for newbuilding LNG carrier MOL wants to expand its business in Asia, especially in India, which is a region it thinks has strong potential...
The Lloyd's List Podcast: Here's what 2023 is going to look like The annual outlook edition of the Lloyd's List podcast casts an eye over the forces that will be shaping the...
Congress imposes more restrictions on Jones Act waivers New legislation is set to further narrow the US government's diminishing authority to grant Jones Act waivers
Ørsted buys out largest green e-methanol project in Europe Ørsted wants to take a leading position in renewable hydrogen and green fuels
Daily Briefing Outlook 2023: The case for optimism amid turbulent times | Regulation: Next year will be agenda-setting for shipping | Ship...
Forwarding tech providers push into US trucking market The need for forwarders to tether quoting and tracking in international freight modes to US surface modes has been highlighted by new offerings from ECU Worldwide and Freightos.
Marine chassis supply-demand balance expected to improve in 2023 Marine chassis were hard to come by at times during 2022, but equipment should be easler to come by during 2023. Photo credit: Ari Ashe.
'Catalogue of frustrations' building for ocean shippers amid spot rate decline Shippers locked into long-term contracts at elevated rate levels on trades out of Asia are feeling "burnt" as the spot market collapses, according to the Global Shippers' Forum.
Ship charterers call BIMCO CII carbon rating clause 'unusable' How the new vessel carbon intensity rating measure will be applied from January continues to rile the global shipping community, with BIMCO facing the latest maritime industry broadside.
Decline in US for-hire truck tonnage gains speed Truck freight demand is falling closer to 2021 levels as 2022 draws toward its close, putting more pressure on truckload and LTL rates.
Rising capesize bulker rates hit five-month high as China resumes construction Capesize fixtures have been 'more plentiful over the past week', analyst says
UK echoes US in Russian oil price cap compliance guidance Document outlines three-tier system and attestation requirements, as G7 looks to keep Russian oil moving at low prices
Carnival hits customer deposits record but still posts Covid-19 loss New York-listed cruise giant posts adjusted loss per share of $0.85, beating analyst estimates of $0.87 loss per share for the quarter
Vale launches contest for methanol-fuelled ore carrier giants loaded with clean tech Iron ore mining giant is inviting shipowners to offer in bids for contracts of affreightment on the next generation of its Guaibamax vessels
Tanker market prospects 'very strong' heading into 2023, Clarksons says Shipbroker's research team says EU ban on Russian imports and changes to refinery capacity will lift earnings
Green Seas explainer: Tracking the moving parts in the IMO carbon jigsaw Our sustainability newsletter picks apart the many strands of the deliberations on global greenhouse gas emissions for shipping
Has the Bank of Japan just called time on the country's 'cheap' ship finance? Markets are predicting higher interest rates and a strengthening of the yen against the US dollar
MSC Group wraps up $6bn African logistics deal Swiss-based group said it was committed to improving infrastructure in Africa
Petronas awards third FLNG job to JGC-Samsung Heavy Industries pairing New floater ZFLNG will soak up valuable berth space at South Korean yard being eyed up by other developers
Big-name charterers warn of Bimco's 'unworkable' CII contract MSC, AP Moller-Maersk, Norden and Trafigura among signatories to open letter warning of 'homegrown' CII clauses - or no clause at all - if a better solution is not reached
AG&P snaps up steam turbine LNG carrier as FSU for new Indian project Singapore-based developer and Abu Dhabi shipowner strike charter deal on third vessel
Tankers speed up to cash in on bumper rates Signal Group says the speed of tankers under ballast is the highest since the start of 2020
IMO to tighten procedures against seafarer abandonment A steep increase in the number of stranded crews is concentrating policymakers' minds
MOL locks away second LNG newbuilding to Gail (India) Shipowner commits one of its speculatively-ordered 2023-delivering vessels and signs joint ownership deal on existing vessel
Safeen sets its sights on amassing tanker fleet AD Ports Group's shipping arm rounded off a busy 2022 establishing a presence in almost every major shipping sector
Safety failings: Two Turkish shipbreakers to be axed from EU-approved list Isiksan and Simsekler facilities have been linked to accidents and non-compliance issues
Master feared dead after ship catches fire in the Black Sea The rest of the crew was rescued from the 9,200-dwt Beata (built 2001) off the Turkish coast
Australian court orders Chinese livestock carrier to the auction block Judge says vultures are circling the Yangtze Fortune, and the sooner it is sold, the better
V.Group predicts growth and consolidation as shipping gets more complicated Scale is required as ship managers tackle increasingly complex industry challenges, says Rene Kofod-Olsen
New shipping regulation to combat global warming is under fire Backers of a shipping regulation that begins Jan. 1 believe it will reduce carbon emissions. Critics warn it could backfire and increase them.
Maritime History Notes: When US intercoastal lumber trade floated fleets By the start of the 1900s, about 40 U.S.-flag ships were operated by the country's lumber titans, proving to the industry at the time that marine transport was more efficient than rail.
Cargo airlines increase omnichannel sales efforts Several airlines have tapped software interfaces to allow electronic bookings for their cargo capacity.
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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