VIDEO: Stevens Towing unveils giant Marine Travelift Family-owned Stevens Towing Company, yesterday launched into service one of the largest Marine Travelifts in the Southeast. The giant lift, 70 feet high by 87 feet wide, is capable of lifting 820
FERRIES 2022 tour will now offer views of Alcatraz, Golden Gate Bridge onboard M/V Dorado high-speed ferry Due to unforeseen circumstances, the Marine Log FERRIES 2022 tour has pivoted away from an in-person visit of the Sea Change ferry-which will still be discussed during the conference-to an onboard tour
DOT and New York State move on USMMA Kings Point campus safety The U.S. Department of Transportation and New York State today announced the implementation of concurrent jurisdiction at the U.S. Merchant Marine Academy (USMMA). Concurrent jurisdiction on the USMMA campus in Kings Point,
How to move a dolly If you need to get moving large furniture, considering obtaining the best dollies to move furniture is the best option. Professional movers are aware of the significance of having dollies when handling massive objects that need to be relocated by their customers and have various types of dollies available to them. They can transport heavy and large items with less effort by using dollies. They al
Irregular fluctuations in global bunker market to continue Over Week 42, Marine Bunker Exchange (MABUX) global bunker indices turned into a downward trend again with the 380 HSFO index falling to US$484.46/MT, the VLSFO index decreasing to US$791.05/MT, while the MGO index dropped to US$1,210.85/MT. Meanwhile, the Global Scrubber Spread (SS) weekly average - the price differential between 380 HSFO and VLSFO - continued its upward movement over Week 42 -
Port of Rotterdam sees reduced container traffic in 2022 In the first months of 2022, the container sector decreased by 8.6% in total weight and by 4.4% in TEU volumes at the port of Rotterdam, the busiest box port in Europe, which handled 5,752,000 TEUs from January to September 2022. According to the port, due to the war in Ukraine, container traffic between Russia and Rotterdam has almost come to a standstill and that has impacted significantly cont
Transnet partially lifts force majeure; container terminal measures remain Transnet Port Terminals (TPT), an operating division of Transnet SOC Limited, has announced that the force majeure declared in the automotive, bulk and multi-purpose terminals is being uplifted with immediate effect. Transnet partially lifts force majeure, container terminal measures remain. Transnet declared a force majeure on 6 October 2022, after employees embarked on industrial action. TPT sa
KOBC, KDB start container leasing scheme for mid-sized South Korean feeder players Korea Ocean Business Corporation (KOBC), a state-backed ship finance organisation, will invest US$69.5 million in the K-Container Box Fund Investment Program, along with Korea Development Bank (KDB) and compatriot asset management firm Multi Asset Global Investments to lease containers to mid-sized local feeder operators. The three parties announced today (21 October) that the scheme aims to help
CMA CGM introduces new US$500/TEU overweight surcharge After MSC's decision to revise overweight surcharges for Indian export containers, CMA CGM has also announced a new surcharge of the same kind. Effective today (21 October), the French ocean carrier will apply an overweight surcharge of US$500 per TEU with a container gross weight equal to or over 20 tons from the Indian Subcontinent, Middle East Gulf, Red Sea and Egypt to the US East Coast, US G
Digitalisation: Charterers have a strategic decision to make Easing congestion across the global supply chain has reduced the need for charterers to scramble for vessels. At the same time, this presents new risks and costs associated with selecting less efficient ships. With those added risks and potential costs of vessel selection comes the need for renewed focus on solutions that aid decision making. As the vortex of global trade coalesces around yet ano
APM Terminals announces new service and new equipment order at Miami box terminal The first ship deployed on CMA CGM's new Medgulf service, CMA CGM Navegantes called for the first time the South Florida Container Terminal (SFCT) in the Port of Miami, as part of the service rotation. APM Terminals announces new service and equipment order at Miami box terminal The French carrier's Medgulf service started at the end of September and calls Tanger (Morocco), Genoa (Italy), Valenci
Vessel utilisation remains low, reports Sea-Intelligence Danish shipping data analysis company Sea-Intelligence reports that global demand continues to decline, and whether we calculate the growth in TEU*Miles or as an annualised percentage over 2019, the supply/demand balance is under pressure. The latest demand data from Container Trade Statistics (CTS) shows that in August 2022, the annualised growth over 2019 was below the level seen in 2019, which
LR, NACKS and HHM proceed with 16,000 TEU ammonia-fuelled container ship project Lloyd's Register (LR) has awarded Nantong COSCO KHI Ship Engineering Co., Ltd. (NACKS) Approval in Principle (AiP) for an ammonia-fuelled 16,000 TEU container vessel. LR, NACKS and Hudong Heavy Machinery Co., Ltd. (HHM) started work on the project in early 2021 with the AiP awarded following a risk-based HAZID certification in which the three partners discussed the flammable, highly toxic and cor
Transnet partially lifts force majeure as strike ends South Africa's ports and freight-rail operator Transnet has partially lifted a force majeure at its ports after labor unions called off industrial action that paralysed commodities exports and resulted in millions in losses. Transnet Port Terminals (TPT), an operating division of Transnet said the force majeure, which was declared on October 6, has been uplifted ...
KKR comes in with $200m credit facility for Flexport Capital Flexport Capital, the trade financing arm of digital forwarder Flexport, has secured a credit facility of up to $200m from separate insurance accounts managed by private equity giant KKR. Flexport Capital provides companies access to flexible working capital for inventory and logistics expenses, using data to gain visibility into a customer's overall supply chain health ...
DOF Subsea scores vessel contracts with ExxonMobil Guyana DOF Subsea has won a long-term contract for two vessels with Esso Exploration & Production Guyana Limited, an affiliate of ExxonMobil. Under the contract, the Norwegian company will carry out inspection, maintenance and repair (IMR), well intervention support, and light subsea construction activities to support the subsea infrastructures in the Stabroek block offshore Guyana. The ...
Havyard to change name to Eqva Norwegian ship technology group Havyard is set to change its name to Eqva to echo the company's growth strategy and its aim to become a fully integrated service and maintenance supplier for the Norwegian land-based and maritime industry. Eqva owns engineering, construction and service companies BKS, Havyard Leirvik and Fossberg Kraft. The Fosnavåg-based firm said ...
Bulker S&P picks up This week's broking reports suggest modern bulkers are now changing hands at a growing pace. Triggered by stable freight rates and fear of inflation buyers and sellers have found common cause to hatch deals. Rebecca Galanopoulos Jones, who has recently moved from brokers Alibra to VesselsValue, noted in an S&P update yesterday: "Bulker values are ...
Tonne-miles up as coal sourced from further afield Sourcing coal from further afield is pushing up the tonne-mile picture for dry bulk. While global coal trade volumes have remained stable this year, ton-days have increased by 6.6% in the first nine months, according to AXS, a sure sign that buyers are being forced to procure from further distances on average. As a part ...
Seadrill sells Paratus stake Offshore drilling contractor Seadrill has struck a deal to sell its entire 35% shareholding in Paratus Energy Services, formerly Seadrill New Finance, and certain other interests. Paratus owns five premium jackups in SeaMex fully contracted with Pemex, 50% of Seabras with six pipe-laying vessels contracted by Petrobras, and certain debt and equity interests in oil ...
Borr Drilling seals $715m deal in Mexico Tor Olav Trøim's Borr Drilling has through its Mexican joint venture Perfomex landed a $715m deal for five jackup rigs with Pemex's integrated well service providers Opex Perforadora and Perforadora Profesional Akal I. The contracts will see the Oslo-listed company's rigs Galar, Gersemi, Grid, Njord and Odin employed for three years, until December 31, 2025. ...
Scorpio Tankers exercises purchase options on eight ships Scorpio Tankers has exercised purchase options on eight ships and the repayment of a credit facility. The company has given notice to exercise its purchase options on one LR2 product tanker called STI Alexis and five MR product tankers called STI Duchessa, STI San Antonio, STI Mayfair, STI St. Charles, and STI Yorkville. These vessels ...
NACKS promotes ammonia-powered boxship Lloyd's Register (LR) has awarded Chinese shipyard Nantong COSCO KHI Ship Engineering (NACKS) approval in principle (AiP) for an ammonia-fuelled 16,000 teu containership. LR, NACKS and Hudong Heavy Machinery (HHM) started work on the project in early 2021 with the AiP awarded following a risk-based HAZID certification in which the three partners discussed the flammable, ...
Hydrogen and ammonia project along US Gulf Coast on the cards Air Liquide, Chevron Corporation, LyondellBasell and Uniper plan to collaborate on a study to evaluate and potentially advance the development of a hydrogen and ammonia production facility along the US Gulf Coast. The facility could support industrial decarbonisation and mobility applications in the region and expand clean ammonia exports, helping to increase the supply of ...
US Department of Energy to spend $28m to support more wind energy The US Department of Energy (DOE) is making available $30m to fund research and development projects that will lower costs for wind energy projects on land and offshore to benefit communities across America. "DOE is helping to break down technology barriers to turbo-charge the deployment of this affordable resource all across the country," said Secretary ...
What can shipping expect from China? China's zero-Covid policy has created an expensive new normal for shipping and President Xi Jinping's steadfast stance at the policy-defining...
Low water levels to slow US bulk exports In a blow to the bulker market, low water levels are hindering exports from the US Gulf just as the...
Shipbroker Clarksons promotes LNG at IMO's 'future fuels' event IEA disagrees with shipbroker's view that LNG as an alternative fuel is the best solution for shipowners
End of South Africa port strikes fails to avert delays South Africa's rail and port authority lifted force majeure following the end to the two-week strike that had crippled exports...
The Lloyd's List Podcast: Does decarbonised shipping feel safe to you? Moving to a multi-fuel future with multiple fuel infrastructures and supply chains is going to require a wholesale reappraisal of...
VLCC day rates pass $100,000 as Chinese refineries boost crude buying Average time charter rates for largest tankers now at the highest in 29 months, according to Baltic Exchange figures
Tianjin Southwest to retrofit carriers to LPG dual fuel 'To decarbonise the existing maritime fleet, switching to low-carbon fuel is the most effective tool,' says MAN PrimeServ
Nacks gets LR approval for ammonia-fuelled vessel Lloyd's Register recently gave approval for building of ammonia-fuelled tankers at two South Korean yards
Cosco puts focus on supply chain competence One-stop product combines warehousing, container trucking, delivery, river and rail transport, customs clearance, air freights and container load business
Daily Briefing Berthing time ramps up at Ningbo terminals amid lockdown fallout | Why shipping is struggling to innovate | Further blankings...
Crane delivery in 2023 will cap Port of Miami container terminal expansion South Florida Container Terminal will be handling more volumes after the start of a new trans-Atlantic service from the Mediterranean, with the CMA CGM Navegantes making its first call to Miami this week.
US warehousing supply gap could emerge by late 2023: ProLogis The industrial warehouse market in the US has enough supply to last through the next year, but logistics developer ProLogis cautions there could be an emerging gap in capacity starting as soon as late next year.
UP 'confident' rail labor issues will be resolved without strike The rank-and-file of the US' third-largest rail union rejected a tentative deal hammered out last month, raising fears of a crippling strike just days before Thanksgiving.
Congestion, loss of Russia traffic hits Rotterdam volume Europe's two largest container port hubs have reported declining throughput in the first nine months of the year as a series of factors stacks up to put the brakes on demand.
Indian freight rates soften to mid-2021 trendline as liners face cooling volumes Rates on ocean trades from India continue to slide, although the country's shipping lobby thinks prices will eventually settle at a midpoint between pre-pandemic levels and the record highs of earlier this year.
American Shipping charters out third Jones Act tanker The third of three tankers set to be redelivered at the end of the year will have a new operator following its break with OSG
Okeanis crude tanker involved in failed drone attack near Yemen oil terminal Greek owned tanker sees one drone explode ahead of it and another on its starboard side
Greek crude tanker involved in failed drone attack near Yemen oil terminal Greek owned tanker sees one drone explode ahead of it and another on its starboard side
Rate for benchmark capesize bulker route for Brazilian iron ore falls 19% in a week Rates for most of dry bulk shipping remain relatively steady as China's industrial sector keeps still
Row flares over Cosco's proposed investment in German container terminal Coalition partners split over whether investment in Hamburg port infrastructure poses security threat
Tanker involved in failed drone attack near Yemen oil terminal 'Greek-interest' tanker sees one drone explode ahead of it and another on its starboard side, Diaplous Group says
Dry bulk bull Noble Capital curbs its enthusiasm ahead of earnings season 'Buy' ratings still abound, but bank now expects lower earnings for third quarter and full 2022
Local police now able to investigate and prosecute sex crimes at USMMA campus Federally-run university previously relied on a US Department of Transporation office and federal prosecutors
The TW+ Quiz Gary Dixon's quiz gets intense as it goes into battle against carbon. What rating will your answers get?
US-led Middle East maritime security group adds new member Seychelles joins International Maritime Security Construct
Trafigura seals $800m state-backed loan to help ship metals into Germany Trading group tells TradeWinds that the latest deal will aid the securing of long-term commodity supplies
Can Putin build 'dark fleet capacity' to game EU oil price cap? Key questions remain about the design and effectiveness of the G7's price cap plan
Navig8 builds its fleet with ex-Eletson tanker trio arrested by CSIC Leasing Panamaxes Antikeros, Dhonoussa and Strofades join the outfit's commercially managed fleet
Clarksons tallies drop in newbuilding orders as headwinds mount Prices are holding up but owners' appetite for container ships is falling
Carbon laws dawn: Are new IMO emissions rules fit for purpose? TW+ magazine explores how EEXI and CII will work, be policed and affect shipping.
Just-in-time arrivals: An idea whose time has come Shipowning giant BW LPG says the tactic helps it reduce fuel consumption, cut emissions and meet its CII obligations
Meet the EEXI experts: ship managers are gearing up Teams being set up by managers can help owners deal with the complexities of new regulations
Machine earning: How digital monitoring can make a difference Owners and managers are turning to data collection to get a read on compliance and optimise ships
CII isn't perfect but it's better than nothing, says Maersk Broker Energy efficiency efforts will be repaid and owners that monitor performance will have a commercial advantage, says advisor
Don't expect carbon rules to create a wave on the beaches Owners are likely to opt for slow steaming for as long as they can, rather than sending less efficient ships for recycling
Lenders go 'bank to the future' on efficiency standards Financiers have been busy modelling portfolios as in the good old days, but jury is out on whether they will be the enforcers of the new-age standards
Bumpy road lies ahead for bulkers Older, more inefficient vessels will be most affected by the new rules, but there will be knock-on effects for the whole dry bulk fleet
Pandora's boxes: Lines fear what they'll find when they unpack IMO rules What gives a container ship a good carbon rating may be out of operators' hands due to the idiosyncrasies of container shipping
Cruise seeks cut to intensity to prevent perverse incentives IMO has rejected 'port time correction factor' that would exclude destination visiting times that will otherwise damage ratings
Slow steam ahead for older LNG carriers Changes to the IMO's draft carbon regulations can give LNG steamships a new lease of life, albeit at reduced speed
Leap in the dark: Tanker owners brace for upheaval over eco targets Russian trades, a dearth of newbuildings and rise of the dark fleet will bring new uncertainties as rules take effect
Tug of law: CII 'cuts through the heart' of contracts Will the new carbon intensity ratings create legal tussles over the way shipping operates?
The market is expected to become the ultimate CII enforcer A lack of enforcement measures has put the onus on charterers to marginalise low-efficiency ships and drive them out of the market
Climate experts tell IMO: Here's where you're going wrong Scientists and policy advisors believe big tweaks are needed to toughen up shipping's 'weak' carbon intensity emissions efforts
Class takes the lead on setting ship energy plans Classification societies are administering the shift to a low-carbon future by assessing shipowners' Ship Energy Efficiency Management (SEEMP) plans
Rules not fit for purpose won't get the job done
How EEXI and CII work (not forgetting SEEMP) The IMO's first global regulations to cut carbon emissions from shipping may look like alphabet spaghetti, but TW+ has plotted a way through the tangles
How to digest the IMO's alphabet soup of rules Shipping analysts, struggling to cut through the CII fog, are critical of short-term impacts, but ultimately expect owners, charterers and regulators to adjust
London company market maintains lead over Lloyd's in marine insurance More marine and other transport insurance cover is being written in London outside Lloyd's
EU seeks to accelerate IMO's trajectory to zero-carbon target French maritime official reveals four proposals for next MEPC meeting
Venture Global named top-dollar LNG carrier buyer at DSME US liquefaction developer takes up its large size options and sets new price record for South Korean shipbuilder
Top Ships shares fall 14% after stock offering expanded Owner aiming for net proceeds of $13.9m from latest deal
Oslo-listed Pareto Bank returns to offshore ship finance after a four-year break Container ship lending is scaled back, but tanker and bulk carrier exposure is boosted
South Korea to fund shipyard R&D to stay ahead of rivals The state's $97m investment is to help yards increase the technology gap
UK's Bibby Line Group plots move into vessel finance for smaller owners Shipowner's financial services arm aims to launch offering early next year
MPCC was a 'successful investment', says Star Capital after selling remaining shares Partner Laura Carballo tells TradeWinds the UK fund always had a five-year investment window
Tianjin Southwest to convert two VLGCs to LPG dual fuel Chinese company becomes latest gas ship owner to switch vessels to cleaner fuel
Scorpio Tankers takes back eight ships in debt-slashing move Product tanker owner repurchases three LR2s and five MRs after similar deals in August and September
Amazon, Hawaiian Airlines gear up for 2023 launch of Airbus freighters Hawaiian Airlines will begin operating Amazon Air's largest cargo jets on the retailer's biggest shipping lanes next year.
Hawaiian Airlines wins Amazon contract to fly Airbus freighters In a major move, Amazon is acquiring 10 large freighter aircraft for long-haul international transport and hiring Hawaiian Airlines to fly them.
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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