Virgin Voyages partners with trio of sustainable marine fuel providers Richard Branson's Virgin Voyages is looking to advance its commitment to reaching net zero by 2050 by what it calls "a portfolio approach to sustainable marine fuel (SMF) supply." This week the
NTSB reports on bulker's $6 million strike on floating office barge The National Transportation Safety Board has released its report on a July 12, 2021, incident in which a 51,996 dwt bulk carrier slammed into a stationary barge being used as a floating
Crowley, Berge Bulk join funding round for onboard carbon capture start-up Los Angeles based onboard carbon capture start-up Carbon Ridge Inc. has raised $6 million in funding led by the Grantham Foundation for the Protection of the Environment, with additional investments from Crowley
Noatum Terminals completes setup of new Liebherr cranes in Spanish terminals The Spanish port operator, Noatum Terminals has received three Liebherr cranes and is preparing for their installation in the assigned ports, following another one that was commissioned in the port of Sagunto earlier this year. Noatum Terminals said the cranes have the versatility required to be able to handle different types of cargo, in addition to being equipped with high technology, leading t
MSC's lawyers file opposition to possible FMC default judgment MSC's lawyers have objected to a potential default judgment from the US Federal Maritime Commission (FMC) for allegedly failing to produce documents relating to a shipper's complaint. In July 2021, US furniture maker MCS filed complaints with the FMC, alleging that MSC and COSCO Shipping Lines reneged on their contractual obligations to supply shipping slots for exports to Asia. MCS resolved its
SC Ports harbor deepens, allows for larger boxships South Carolina Ports (SC Ports) efficiently handled a container ship at the deepest draft to-date, reinforcing the importance of Charleston Harbor's new 52-foot depth. MSC Rayshmi set a record for the deepest draft at SC Ports, arriving at 48 feet and 11 inches of draft. Five cranes, standing 155 feet above the wharf deck, worked the vessel at Wando Welch Terminal with crane operators moving 2,75
Port of New York & New Jersey upgrades efficiency and transparency tool Port of New York & New Jersey has announced an updated version of its port supply chain dashboard, a tool that aims to increase efficiency and transparency at the US port. The Port Authority of New York and New Jersey added data about Daily Average Turn Times and Weekly Import Container Dwell Time to the updated Dashboard, which were the two most requested data metrics according to a port's surve
Ningbo closing in on Singapore as world's second largest container port Singapore is now facing the possibility of being overtaken by China's Ningbo-Zhoushan port as the world's second-busiest container port, 12 years after losing its crown as the world's busiest box port to Shanghai. Alphaliner's latest report on 21 September noted that Ningbo-Zhoushan handled 17.54 million TEU in the first half of 2022, just 1.08 million TEU less than Singapore, as the three-month
CMA CGM boss Saadé part of tycoon consortium to buy French television station M6 The chairman and chief executive officer (CEO) of the CMA CGM Group, Rodolphe Saadé aims to expand further into the mass media sector. After being set to take over the Marseille-based top-selling newspaper La Provence , French media report that Saade is part of a consortium comprising well-known French businessmen bidding to acquire a 48% stake in the country's largest commercial television stati
Unifeeder launches new service from Lithuania to UK Associated British Ports (ABP) and DP World-owned Unifeeder have launched a new service from Klaipeda in Lithuania to the Port of Immingham, Lincolnshire, UK. The new route is a weekly sailing offering faster transit times, with the vessel leaving Klaipeda on Fridays and Immingham on Mondays. The maiden voyage saw the Elbspring vessel arrive in the Humber on 15 September. Simon Bird, regional dir
MSC adds port of Jeddah call to Himalaya Express service Swiss/Italian container line MSC has decided to introduce a new call at the port of Jeddah in Saudi Arabia on its Himalaya Express service. The first vessel sailing from Europe to Jeddah will be MSC Gaia on voyage IS241R, scheduled to depart UK's port of Felixstowe on 8 October and arrive Jeddah on 26 October. The first ship sailing from India to Jeddah will be MSC Irene on voyage IS241A, schedul
Maersk opens new warehouses in India Maersk has inaugurated two new warehouses in India increasing its total warehousing footprint in the country to 306,000m² across more than 20 facilities. The new warehouses are located at Farrukhnagar, Harayana and Dadri, Uttar Pradesh and are near the National Capital Region (NCR) in the northern part India. Soren Skou, CEO of A.P. Moller - Maersk, commented, "Our conversations with customers ar
South America's largest box terminal enhances RTG crane fleet and expands reefer capacity The manager of the Paranaguá container terminal, Terminal de Contêineres de Paranaguá (TCP), has purchased 11 rubber tyred gantry (RTG) cranes, as part of a series of investments in the infrastructure of the Brazilian box terminal, which is the largest one in South America. The package includes new equipment, an increased capacity to receive and store reefer containers, and new accesses and syste
Intra-Asia rates out of India crash amid tightening market conditions While container freight rates across trades out of India have cooled over the past few months, new data obtained by Container News from local forwarder sources now point to a more precipitous slide in intra-Asia connections. Rate levels from India to Central/North China, Singapore and Hong Kong have slid between 30% and 50% this month from the levels reported at the end of August. Average contrac
COSCO delays investment in Hamburg terminal COSCO Shipping Ports, the port division of China's COSCO group, is delaying the expected completion of its proposed acquisition of a 35% stake in Hamburger Hafen und Logistik (HHLA)'s Container Terminal Tollerort (CTT) to year-end. CTT is one of HHLA's three container terminals in Hamburg, Germany and is now the hub of COSCO Shipping Lines' European services. COSCO Shipping Ports made a bid to in
Crowley and Berge Bulk back onboard carbon capture startup Carbon Ridge US-based onboard carbon capture startup Carbon Ridge has raised $6m in funding from several investors including compatriot shipping and logistics company Crowley and Singapore-based owner Berge Bulk. The funding round, led by the Grantham Foundation for the Protection of the Environment and which also included Rusheen Capital Management and Plug and Play Ventures, will enable ...
CULines and Antong Holdings eye joint investments in shipping and logistics As the operating environment gets more tricky for exposed new entrants on container shipping's main east-west tradelanes, two Chinese carriers have vowed to work closer together. Fast-growing China United Lines (CU Lines) and its compatriot Antong Holdings are expanding their cooperation with a new framework agreement to jointly invest in shipping and logistics-related industries. The ...
Shanghai to build a new 11.6m teu terminal at Yangshan Shanghai International Port Group (SIPG) has detailed plans of a giant 11.6m teu new terminal it will build in the north of its flagship Yangshan facility. Construction of the $7.8bn project will start this year and will be finished by 2030 and will add 5,500 m of extra quayside to the Shanghai's far flung container ...
MSC fires back in ongoing spat with Pennsylvania home decor firm Mediterranean Shipping Co (MSC), the world's largest containerline, shows no sign of giving in on a legal fight it is having with a client in the US. In August last year Pennsylvania-based home decor manufacturer MCS Industries filed a complaint with the Federal Maritime Commission (FMC) in Washington DC, claiming MSC had contravened the US ...
Maersk Drilling scores $34m jackup deal with Ineos Danish rig owner Maersk Drilling has secured a $34m contract from Ineos for the provisioning of the 2009-built jackup rig to drill two development wells at the Solsort field as well as performing well intervention work scopes on two wells within the Siri cluster in the Danish North Sea. Following the approval for development from ...
Furetank orders two more LNG/LBG-powered product tankers Swedish shipowner Furetank has added two more ships to its dual-fuel product tanker orderbook at China Merchants Jinling Shipyard in Yangzhou. The 17,999 dwt newbuilds that will run on liquefied natural gas (LNG) and liquefied biogas (LBG) will take the company's Vinga-class series to 15 vessels, with six 20,306 cu m units ordered this year. ...
COSCO SHIPPING Captive Insurance signs up for the Poseidon Principles for Marine Insurance COSCO SHIPPING Captive Insurance, a subsidiary of China's state-run COSCO, has become the first Asian marine insurance company to support the Poseidon Principles for Marine Insurance, a group that has committed to the creation of a common global baseline for assessing and disclosing the alignment of marine insurance portfolios with climate goals. Two Asia-based organisations ...
Target, Electrolux and Philips among host of brands signing up to 2040 zero emission shipping commitment More mega brands including giant US retailer Target are signing up to a movement to ensure goods are moved on clean, green ships in less than a generation. Cargo Owners for Zero Emission Vessels (coZEV), an initiative created October last year by the non-profit Aspen Institute, announced yesterday the addition of Beiersdorf, Dupont, Electrolux, ETTLI ...
TechnipFMC wins Shell UK subsea contract TechnipFMC has won a significant contract worth up to $250m from Shell for the Jackdaw gas field development in the UK North Sea. Under the engineering, procurement, construction and installation (EPCI) contract, the New York-listed subsea giant will carry out pipelay for a 30 km tieback from the new Jackdaw platform to Shell's Shearwater platform, ...
Saadé tipped to bid for France's second-biggest TV commercial broadcaster Rodolphe Saadé, who has shot up the rankings on France's rich list during the pandemic-inspired container bull run, is spending cash in multiple directions. With his liner company CMA CGM making record multi-billion profits, Saadé has created an airline, bought CEVA Logistics, Ingram Micro's Commerce & Lifecycle Services (CLS), Colis Privé and GEFCO. Saadé has ...
CMA CGM upgrades services to Guadeloupe and Martinique with seven new biogas-fuelled ships During a trip to Martinique and Guadeloupe, Rodolphe Saadé, chairman and CEO of Marseille-based liner CMA CGM, has announced the rollout of seven new containerships powered by biogas to enhance services to the French West Indies. Delivered gradually from 2024, the seven new ships - four 7,300 teu vessels and three 7,900 teu vessels, each ...
New Jersey increases offshore wind goal to 11,000 MW by 2040 New Jersey Governor Phil Murphy this week signed an executive order to increase the state's offshore wind goal by nearly 50%, from 7,500 MW to 11,000 MW, by 2040. The order also directs the New Jersey Board of Public Utilities to study the feasibility of increasing the target further. Murphy announced, as well, the release ...
Talos Energy acquires EnVen Energy, adding US Gulf of Mexico assets Houston-based Talos Energy has acquired EnVen Energy Corporation, a private operator in the deepwater US Gulf of Mexico, for $1.1bn. The transaction will increase Talos' production by 40% and gross acreage by 35%. It will also double Talos' operated deepwater facility footprint, adding key infrastructure in existing Talos operating areas. EnVen currently produces approximately 24 ...
The Lloyd's List Podcast: Where is shipping in the zero carbon transition? It seemed clear to everyone gathering in New York that the acceleration needed to move the shipping industry closer to...
Why it's time to stop talking about shipping decarbonisation The shipping industry is not on a trajectory to hit net zero by 2050. The only way it will find...
Poseidon Principles adds 30th signatory KfW IPEX-Bank joins the coalition of financial institutions and marine insurers as chairs announce more ambitious emission targets and expect...
IMO to develop safety guidelines for ammonia and hydrogen While guidelines for the use of liquefied petroleum gas have been finalised, the work to develop technical provisions for ammonia and...
Record LNG carrier rates as charterers adapt to Europe's energy crisis Profit in excess of $100m per cargo sees charterers secure sufficient tonnage to ensure winter capacity
United Maritime launches second $3m buyback Seanergy spin-off regards the shares as undervalued, especially given the 'positive' outlook for tankers
MSC contests default judgment in US legal dispute An FMC administrative judge has threatened MSC with a default judgment for not providing information it called for. But MSC...
MAN ES sets out path to halve its emissions by 2030 MAN's reassessment of the way it works has been influenced not only by the climate crisis but also by the...
No respite for falling container spot freight rates Freight rates and demand remain higher than they were before the pandemic, but the direction of travel is obvious. Carriers...
Furetank adds product tanker newbuildings Latest order for 17,999 dwt energy efficient dual-fuel tankers lifts Swedish-designed Vinga-class series to a total of 15 units
Dynagas Partners says charters continue to perform Partnership posts second-quarter earnings in line with expectations
'We need more ships, we need bigger ships' to tackle food crisis Unctad secretary-general opens the Global Maritime Forum with a call to action for greater numbers and bigger sizes of ships...
Greece gets two bids for control of strategic port Alexandroupolis has become key gateway for US and Nato military equipment as well as a regional energy hub. There is...
Shipping should be 'proactive' when it comes to sanctions Changes in EU guidance on transfer and transport of commodities, including coal and fertilisers, is an example of how trade-related...
DNV to promote green maritime initiatives in Singapore DNV and Singapore Institute of Technology will focus on advancing zero-emission and autonomous ships, shore remote control and simulation centres
New Savannah tariff prods ocean carriers to pick up empties The Georgia Ports Authority is lowering the number of empties carriers can store at its terminals and increasing fees for storing empties that exceed those allotments.
Trans-Pacific blanking static despite falling US imports Trans-Pacific carriers in recent months slashed capacity to the West Coast as Asian imports and freight rates plummeted this summer, but the trade will likely continue to have excess capacity in the coming months unless they blank more capacity than is currently planned.
MSC disputes judge's handling of FMC complaint Mediterranean Shipping Co. maintains it cannot produce discovery in an FMC complaint stemming back to July 2021 because of Swiss law and is now disputing a judge's determination to issue default judgment.
SIPG to invest $7 billion in new Shanghai container terminal Shanghai International Port Group will begin construction on its new 11.5 million-TEU container terminal at the world's busiest port complex next month, with completion expected in 2030.
Trans-Pacific demand to ease through Q4 2022: carriers Executives at Wan Hai Lines and Mediterranean Shipping Co. foresee softer trans-Pacific container volumes for the last quarter of 2022 as consumers pull back on spending.
Asia-Europe carriers cancel sailings as demand, rates slump A vigorous blank sailings program on the Asia-North Europe trade lane has yet to stem the rapid decline in spot rates that have fallen more than 50 percent since Jan. 1.
Vancouver port, rail congestion should ease over next two months: CEO Congestion is easing along Canada's rail networks and at inland rail hubs in Toronto and Vancouver, and this is translating to declining rail container dwell times at the Port of Vancouver.
Crude tanker rates cool off, while Atlantic MRs ride a roller coaster Some crude and product trades see upward momentum, while larger product tankers falling a tick lower
Global Maritime Forum reveals location of next annual summit Main vehicle for shipping problem-solving group headed to the Greek capital in 2023
Capesize bulker market rises 45% as China's building sector shows signs of life Global steel output in August is still down 4% from a year ago, according to the World Steel Association
African influence waning for tankers as Nigerian production hits 32-year low Bimco's Niels Rasmussen says landscape shift will be exacerbated by new Dangote refinery next year
Whistleblowing pollution witnesses battle US over 'false imprisonment' The federal government is aiming to throw out a seafarer case that alleges 'a form of piracy, and includes involuntary servitude'
'We cannot underestimate the scale of the carbon challenge,' warns shipping veteran Grimaldi ICS chairman sees his new job as bridging differences between states and regulators
MSC doubles down in 'contractual' dispute with US shipper Problems were of the US shippers own making with third parties, carrier alleges
Troim-backed 2020 Bulkers switches up Glencore charter to lock in earnings Norwegian owner now has three of eight newcastlemaxes on fixed charters
Tsantanis goes for more United Maritime buybacks in 'positive' tanker markets Greek tanker owner completes $3m repurchase round and lines up another
Cosco insurance captive joins the Poseidon Principles Company becomes first Asia hull underwriter to join the marine insurance initiative
Sanctions risk: Putin's mobilisation move could hit tanker demand Analysts believe Russian president's call-up decision is negative overall for resurgent sector
Greek tanker hit by fire after leaving Russian Baltic port Crew members on the Alexia extinguished blaze and ship will resume journey
Shipowners' Club underwriting improves but investments slump The specialised P&I insurer has reported increased premium and a fall in claims
New York-listed Dynagas LNG Partners dry docks half its fleet amid rising profit Sanctions against Russia have not impacted financially, says the company
Furetank adds two more to series of dual-fuel biogas tankers Swedish owner makes it 15 Vinga vessels to be owned by the Gothia Tanker Alliance partners
Greek tanker hit by engine room fire after leaving Russian Baltic port Crew members on the Alexia extinguished blaze that left ship without power
Biden aims to make green shipping a highlight of next global climate meet White House official tells the Global Maritime Forum annual summit that focus on John Kerry's Green Shipping Challenge will be key on the agenda
UK government clears Inmarsat acquisition by Viasat US buyer says approval is another important step forward on the road to closing the deal
Viewpoint: There are winners and losers in the diversion of trade An increase in vessels calling on the East Coast and Gulf Coast ports is adding to wait times, which increases the delays of materials needed...
Boeing CEO: Promises about clean aviation fuel outpace technology Boeing CEO David Calhoun is outspoken about how governments are making environmental and economic policy.
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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