Navy lab confirms that drone that struck Eastern Pacific tanker was Iranian Central Command has now released details and imagery substantiating its findings that an Iranian drone was the "projectile" that struck a product tanker managed by Idan Ofer's Eastern Pacific Shipping on Nov.
Allianz names top causes of costly marine insurance losses Fire and explosion incidents cause the most expensive insurance claims in the marine industry, while at a time of rising exposures and inflation, cargo damage is the most frequent cause of loss,
Vigor Marine awarded $20.1 million Mercy contract The U.S. Navy's Military Sealift Command has awarded Vigor Marine LLC., Portland, Oregon, a $20,187,816 firm-fixed-price contract for a 90-calendar day shipyard availability for a mid-term availability of the hospital ship USNS
CMA CGM applies revised PSS from Turkey to US East Coast & Gulf Marseille-headquartered container line CMA CGM has decided to revise its peak season surcharge (PSS) from Turkey to the United States East Coast & US Gulf. The new surcharge will be effective from 23 November (US gate in date) until further notice and will be US$1,100 per TEU and US$2,200 per FEU for dry, reefer, out of gauge (OOG) and breakbulk cargo. The post appeared first on Container News .
Port Houston reports box volume growth Container volumes grew by double digits at Port Houston in October. A total of 371,994 TEUs were handled by the port during the last month, translating to a 13% increase compared to October 2021. Loaded containers reached the highest volume ever and were up 21% compared to the same month last year. Overall, container volumes from January to October at Port Houston's terminals have surpassed the 3
cargo-partner adds new air freight service between Amsterdam and Asia A privately owned full-range info-logistics provider, cargo-partner announced the introduction of a new air freight solution to and from Amsterdam in the Netherlands to support customers with the import and export of goods to and from Asia. The new air service is managed from cargo-partner's Amsterdam branch. According to cargo-partner, the service provides a weekly route for customers to transpo
Speculation builds around Maersk's interest in Concor privatisation Although officials at Maersk (India) remain tight-lipped, there are strong rumours that the Danish group is preparing itself to make a bid on Container Corp. of India (Concor). Concor commands the bulk of containerised rail freight movement in India, on the back of an expansive inland terminal network. Maersk has reportedly attended two rounds of pre-tender consultations held by government offici
INFORM expands its global activities in Asia German software development and business process optimisation specialist INFORM has announced the expansion of its presence in Asia with Singapore-based INFORM Software Pte Ltd. taking over sales and consulting as well as providing support for INFORM software for this region. INFORM's systems offer algorithmic support to intelligently optimise decision-making and planning processes for airline an
SM Line, CJ Logistics to expand Transpacific reefer shipping South Korean liner operator SM Line and compatriot third-party logistics group CJ Logistics will work together to expand their logistics businesses in North America, after signing a memorandum of understanding (MoU) on 21 November. The two companies will focus on the ocean freight and trucking of reefers, providing cold chain services between South Korea's Busan port and the US West Coast. CJ Log
CMA CGM revises peak season surcharge from Europe to US East Coast French ocean carrier CMA CGM has decided to revise its peak season surcharge from Europe to the United States East Coast. In particular, from 22 November 2022 (US gate in date) until further notice, CMA CGM will apply a PSS of US$1,375 per 20 standard container / US$1,550 per 40' standard and high cube box for dry, out of gauge (OOG), breakbulk and reefer cargo. CMA CGM's new surcharge will be im
Hong Kong and the Greater Bay Area Yoking Hong Kong economically with its neighbouring cities ought to provide plenty of opportunities for the local maritime community. The latest instalment in our series of our articles from Splash's Hong Kong special. First conceived in 2017, the Greater Bay Area (GBA) is up there with the Belt Road Initiative in terms of mega, overarching ...
Sempra Infrastructure, ConocoPhillips establish strategic partnership for Port Arthur LNG Sempra Infrastructure and ConocoPhillips have executed a 20-year sale and purchase agreement for 5m tonnes per annum (Mtpa) of liquefied natural gas (LNG) from Phase 1 of Sempra Infrastructure's proposed Port Arthur LNG project in Jefferson County, Texas. The two companies have signed two more agreements through which ConocoPhillips will acquire 30% of the equity ...
Castor Maritime enters container sector with double acquisition Cyprus-based bulker and tanker owner Castor Maritime has made a move into the container shipping sector with a double sub-panamax purchase. The Nasdaq-listed company is adding two 2005 German-built 2,700 teu ships from entities beneficially owned by family members of Castor's chairman and CEO, Petros Panagiotidis. The ships match the description of Ariana A and ...
Aquadrill clinches drillship charter in Indonesia Aquadrill and rig manager Vantage Drilling have agreed a new drillship charter deal with Premier Oil in Indonesia. The 2008-built managed pressure drilling (MPD) equipped has been fixed for four wells from early May 2023 through to mid-April 2024, plus two priced and three mutually agreed optional wells. The rig started its campaign in Indonesia ...
Fugro selected for Dutch offshore wind site surveys Fugro has secured two geotechnical survey contracts for the development of the Dutch IJmuiden Ver site V-VI, Nederwiek (zuid) site I and Hollandse Kust (west) site VIII offshore wind zones. Specialist geotechnical vessels from the Fugro fleet will begin the surveys in March 2023 and continue into the fourth quarter of 2023. Further processing, laboratory ...
Seapeak splashes $1.1bn on five LNG carrier newbuilds in South Korea Seapeak has booked five liquefied natural gas (LNG) carriers for construction at South Korea's Samsung Heavy Industries (SHI). Stonepeak's gas ship owner is paying around $1.1bn for the 174,000 cu m ships expected for delivery in 2027. The newbuilds are backed by ten-year charters with an unnamed international energy major, which can be extended at ...
Aibel scores Equinor platform work Norwegian offshore energy services firm Aibel has won a contract worth between NOK1.5bn and NOK 2.5bn ($148m and $246m) for extensive modifications and preparation of Equinor's Aasta Hansteen platform for tie-in of the Irpa field. The contract follows the front-end engineering and design awarded to Aibel last year. The company said the new project would ...
Höegh Autoliners snaps up leased car carrier for $53.2m Norway's Höegh Autoliners has declared an option to purchase the 2016-built car carrier currently on bareboat charter from Ocean Yield, for $53.2m. The 8,500 ceu vessel is a sister vessel to Höegh Tracer, which the company opted to buy back in August at the same price and its fourth bareboat chartered vessel picked up this ...
Washington outlines impact Russian sanctions will have on shipping Details of the Russian oil price cap and penalties and bans against shipping companies who infringe sanctions due to come in place on December 5 are beginning to emerge. The Group of Seven nations will soon announce the price cap on Russian oil exports with speculation that it will stand at $60 per barrel to ...
Saudi Aramco dishes out new deals worth $11bn Saudi Aramco has inked 59 corporate procurement agreements (CPAs) valued at $11bn with up to 51 domestic and international manufacturers, including Baker Hughes, Cameron Al Rushaid, Halliburton, SLB, and TechnipFMC. The state oil giant said the CPAs, under its in-kingdom total value add (iktva) programme, cover multiple strategic commodities, such as drilling chemicals, wellheads, switchgears, ...
The numbers behind MSC's extraordinary fleet growth Much has been written about the fleet expansion at Gianluigi Aponte's Mediterranean Shipping Co (MSC) during container shipping's boom era. Since August 2020 the Geneva-headquartered liner has bought more than 250 secondhand ships, as well as building a 1.7m teu orderbook, a period of expansion on a scale never seen before in any commercial shipping ...
Flex LNG seals three-ship extension with Cheniere John Fredriksen-backed Flex LNG has sealed a charter extension for three ships with Cheniere Marketing International, a subsidiary of US LNG player Cheniere Energy. The LNG carriers Flex Endeavour, Flex Ranger and Flex Vigilant which had about six years in aggregate of the remaining firm charter period, have now had their charters extended for up ...
Maersk settles second American sexual harassment case Maersk has settled a second case of sexual harassment brought against its US subsidiary Maersk Line, Limited. "Midshipman Y and Maersk Line, Limited have reached a confidential agreement in her litigation against the company. Out of respect to Midshipman Y's request for anonymity, both sides agree that no details or statements on the resolution will ...
New Russian boxships ordered for trade with Iran According to Alphaliner, Russia's United Shipbuilding Corporation (USC)will build four sea-river container/MPP ships of 435 teu for GTLK, the largest Russian leasing firm. The ships, due for delivery in 2024 and 2025, will travel between Russian inland ports along the Volga River and the Volga-Baltic Waterway in the north, and Iran's Caspian Sea ports in ...
Hong Kong: Where will the next generation in maritime come from? What should Hong Kong maritime be doing to ensure it gets its share of the brightest and the best? The third instalment in our recently published Hong Kong magazine. The war for talent is relentless. Sadly for Hong Kong the pandemic, combined with its relatively new tough national security law, have seen one-way plane tickets ...
British tidal power boxport plan unveiled Centre Port Holdings, a UK-based marine and renewable energy infrastructure developer, led by James Sutcliffe, has announced the first stages of development of a major tidal energy scheme on the east coast of England that incorporates the world's first tidal powered deepsea container terminal as well as providing landside flood defences for up to a ...
Fires top insurance claims Fire and explosion incidents cause the most expensive insurance claims in the marine industry, while at a time of rising exposures and inflation, cargo damage is the most frequent cause of loss, according to Allianz Global Corporate & Specialty (AGCS). The marine and cargo insurer analysed more than 240,000 marine insurance industry claims worldwide between ...
Leveraging the diaspora in building the Maritime India brand Santosh Patil on how the world's largest democracy can develop into a maritime powerhouse. The recently concluded INMARCO 2022, a quadrennial event hosted by the Institute of Marine Engineers (India), was an exciting concoction of action-packed conferences, participation from international attendees, policy makers, top shipping executives and high-level engagement by government authorities, flag
New Fortress finalises agreements with Pemex to complete Lakach offshore gas field New Fortress Energy Inc. (NFE) has finalised its agreements with Petróleos Mexicanos (Pemex), Mexico's state-owned oil company, to develop and operate an integrated upstream and natural gas liquefaction project off the coast of Veracruz in southeastern Mexico. The two companies have established a long-term strategic partnership, expressly supported by Mexican president Andrés Manuel López Obrador
Freeport LNG provides update on restart of liquefaction facility On June 8, LNG was released from Freeport LNG Development's liquefaction plant on Quintana Island, Texas, leading to the formation and ignition of a natural gas vapour cloud and subsequent fire. The company, an LNG export company headquartered in Houston, Texas, entered into a consent agreement with the Pipeline Hazardous Materials Safety Administration (PHMSA) that ...
Zim and Samsung seek to settle FMC complaint Parties given more time to settle case after senior leaders agreed they could find an amicable resolution
GPS jamming poses threat to navigation Equipment banned in many countries is easily purchased on the internet for as little as $30
Maersk still seeking to fuel decarbonisation plans Maersk has 19 methanol-fuelled ships on order. While it has supply plans in place for those, it will need more...
Shipowners must know the responsibilities of data ownership As digitalisation gains significance for maritime decarbonisation, understanding who owns what and how to reach agreement with equipment manufacturers will...
Why waiting for progress at IMO is a very risky strategy COP27 may have tipped the balance inside the IMO courtesy of its 'loss and damage' agreement, but the question of...
Grain corridor backlog creeps up JCC inspections jumped during Russia's brief suspension of participation but have since returned to lower levels
Different approaches needed to train Gen Z seafarers Maersk Training, a training centre run by the shipping liner, has adopted different ways of training and engaging young seafarers
Bulk carrier values fall as sentiment sours Softening freight demand driven by weakening macroeconomics have driven values of 10-year-old bulk carriers down by an average of 5%...
Seapeak orders LNG quintet from Samsung Newbuildings are priced at $220m apiece and have been ordered to serve long-term charters with an undisclosed international energy major
Supply chains still at risk from industrial action The cost of living crisis is leading to calls for action to support pay rises. The recovery of global supply...
US updates oil price cap guidance for shipping as bans on Russian crude draw close Bans on Russian seaborne crude imports to Europe begin December 5 witih refined products banned from February 5
Top 10 flag states 2022 Liberia was the fastest-growing registry in 2022 and expects to overtake top spot holder Panama by the end of 2023...
Höegh Autoliners buys fourth leased PCTC Vessel purchased from tonnage provider Ocean Yield for 55% of its market value
Standard joins ranks of P&I clubs seeking double-digit price hike Combined ratio below 100%, but major claims expected in northern hemisphere winter
Tonnage providers lose share to avaricious box carriers Container lines swooped on newbuildings and secondhand tonnage during the boom. But now the market is turning, non-operating owners have...
Transport union says seafarers 'deserve fair treatment' 'If we want to attract young and bright people to our industry that can handle changes and challenges with the...
Seafarer wellbeing survey shows 3% suffer severe depression Forty-four international shipping companies participated in the survey with 24,662 responses representing seafarers from all around the globe.
Boxship backlog cleared at Los Angeles and Long Beach ports Officials declare an end to the backup that began in October 2020 and peaked at 109 containerships at start of...
ICS calls for action to address shortage of seafarers Addressing diversity is another challenge for the sector, and shipping must do more to show that it is a career for...
Softer tone prevails in dry bulk market Spot rates have been on a downward slope across all bulker segments mainly due to lower demand and an unwinding...
Yangzijiang Financial partners with Temasek unit to invest in SMEs The fund intends to invest in promising SMEs, with a focus on Singapore and Vietnam, and will also co-invest alongside...
Daily Briefing More P&I clubs looking for double-digit rate hikes for 2023-24 | Sufficient shadow tanker fleet capacity to ship sanctioned Russia...
Inefficient US terminal flow at core of COVID-related chaos If there's one lesson from the pandemic, it's that working to ensure efficient container flow through US ports during sustained cargo surges must be the highest priority, whether it's achievable or not, writes JOC's Peter Tirschwell.
Landside logistics next step in decarbonization drive: Maersk The expanding platform provided by shippers seeking green transport has allowed Maersk to ramp up its ocean sustainability efforts, with greening landside logistics the next target.
New K+N freighter flies into slowing air cargo market Swiss forwarder Kuehne + Nagel is receiving new freighter capacity as global demand wanes and rate levels tumble through a non-existent peak season.
Intra-Asia liners reinstate South India call amid improved schedule reliability The resumed service at India's VOC comes as the port has embarked on a raft of new infrastructure projects to position itself as an alternative transshipment hub to Sri Lanka's Colombo Port.
VLCC market take a dip as charterers work to put a lid on rates Brokers say charterers have been able to pull rates down from the year-to-date highs seen earlier this week
Germany's first FSRU arrives off Lubmin as it gears up for December operations Lubmin looks set to steal a march on Wilhelmshaven as battle to install regas ships ahead of winter kicks off
Maersk Line and USMMA student settle second sexual misconduct at sea lawsuit Midshipman Y said the harassment she suffered was so bad that she slept locked in her bathroom with a knife
Two of Italy's best-known shipping families team up in new dry bulk exploit Navigazione Montanari and Romeo's Nova Marine Carriers hook up in dry sector
Green Seas: Shipping highlights as COP27 closes in Egypt This week's environment newsletter brings a selection of TradeWinds' coverage of decarbonisation discussions during the climate meet in Egypt
Novamont Dry takes Swiss-Italian partners into larger bulk segment Navigazione Montanari and Romeo's Nova Marine Carriers hook up in dry sector.
Iran drone attack blew hole in stern of Eastern Pacific tanker US Centcom releases photographs showing examination of Pacific Zircon after attack
Critical battle for Ukraine's Kinburn Spit could free Mykolaiv port More than a dozen bulkers and tankers are trapped in the port that is caught right in the crossfire of the war with Russia
Germany's first FSRU arrives off Lubmin as it gears up for December operations Lubmin looks set to steal a march on Wilhelmshaven as battle to install regas ships ahead of winter kicks off
'Big Blue' Maersk to pay executives to go green AP Moller-Maersk to link management pay to sustainable shipping targets
Iran drone attack left 75cm hole in EPS tanker US Centcom releases photographs showing examination of Pacific Zircon after attack
AP Moller-Maersk plans to double capacity at Esplanaden HQ Liner giant applies to build a new extension to waterside head office
Lacklustre COP27 climate talks spark hope for ambitious IMO emission targets revision Shipping hails progress at climate talks, with plans for green corridors and ramping up alternative fuels, but urges regulators to back it with more stringent measures
Rumours fly about sale of a Sovcomflot LNG carrier at record sky-high price Market alight with talk but details on buyer and status of sale remain blurred
Lackluster COP27 climate talks spark hope for ambitious IMO emission targets revision Shipping hails progress at climate talks, with plans for green corridors and ramping up alternative fuels, but urges regulators to back it with more stringent measures
Shipping cannot wait on carbon while COP27 scores own goals If Saudi Arabia can beat Argentina at the World Cup, then maritime must be able to break carbon deadlock
Navios finance chief Achniotis moves to Buenos Aires to spearhead South American push Full-time move demonstrates Greek group's hope for shipping and port operations in the Hidrovia region
Joakim Hannisdahl cuts VLGC exposure as 'stellar' market hits $133,000 per day orwegian investor sells long position in BW LPG over fears on newbuilding supply
BP snaps up Hoegh LNG FSRU as winter trading vessel at top dollar rate New chief executive says company will have five of its regas vessels working in Europe from 2023
Seapeak unveils $1.1bn order for five LNG carriers linked to ExxonMobil business Former Teekay LNG Partners confirms deal at Samsung Heavy Industries
Korean Development Bank gets the ball rolling on HMM share sell-off Potential buyers that would offer synergies with the liner giant have been identified
Hoegh Autoliners snaps up car carrier for $54m below market value Norwegian company continues to take advantage of lease options to expand owned fleet
Cheniere Energy makes early grab on charter options for Flex LNG trio Earliest open ships for John Fredriksen's LNG company now booked up into 2027, with fresh optional periods taking hires into the 2030s
US to go after 'wilful evaders' of Russia price cap Shipowners told to keep paperwork for five years to avoid punishment if they 'inadvertently' deal in uncapped Russian oil
Pertamina reveals $3bn plan to renew tanker fleet and enter LNG sector Indonesian national oil company wants to lower age of vessels and make a play for gas business
Frangou kicks off management succession as Navios targets South American tanker growth CEO shakes up executive structure at product carrier and port company Navios Logistics
MSC pulls out of bid to acquire stake in Italian airline Swiss liner company said it did not see the right conditions for a deal in the current process
Cathay Pacific cargo traffic shrinks 25% in October A weaker-than-normal shipping season is hurting Cathay Pacific Cargo's ability to recover from the pandemic.
Zero ships waiting off Southern California, 59 off other ports Southern California's container-ship logjam is gone and congestion is easing at East and Gulf Coast ports.
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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