CONCOR launches key initiative on movement of DPD containers by rail
FFFAI discusses important issues at Executive Committee meeting in Mumbai
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Restricted entry of food items in specific ports
WTO-WCO workshop confers on periodic update of Harmonized System
Baltic Exchange Market Report (21 October 2022)
Engineering goods exports drop 10.85 pc in Sept.
Indian bank opens special Re account for Russia's Gazprombank
Final trial run held for use of Bangladeshi ports
Call to lower freight, power costs for exporters
Wan Hai Lines holds naming ceremony for 13,100 TEU newbuildings
APSEZ forms wholly owned subsidiary 'Tajpur Sagar Port Ltd'
Maintenance dredging at DPA oil jetty
3PLs remain top occupiers of warehousing space; demand for industrial warehousing up: Report
India aiming at more than doubling defence exports by 2025
Syama Prasad Mookerjee Port set to start night navigation between Kolkata & Sagar Island; engages consultant for preparing DPR for proposed ICTT at Galathea Bay in Great Nicobar Island
VIDEO: Capital takes delivery of ammonia/LNG ready VLCC Evangelos Marinakis led Capital Ship Management Corp. has take delivery of the Liberian-flagged M/T Alterego, the second of two ammonia-ready and LNG- fuel ready sister VLCCs. Built by the Hyundai Samho Heavy
ICS calls for global CO2 reduction fund to reward green fuel first users The International Chamber of Shipping (ICS), which represents 80% of the world's merchant fleet, has submitted a proposal to IMO calling for a "fund and reward" system to accelerate the maritime sector's
NTSB: Software flaw led to Seastreak ferry grounding A software flaw combined with the captain's failure to use back-up controls led to the June 2021 grounding of the Seastreak high speed ferry Commodore in New York City, says the National
Port of Santos continues to hit record TEU figures Container throughput at the Port of Santos in September reached 486,300 TEUs, which represents a 20.7% increase compared to the same month last year and a new monthly record, surpassing by 6.5% the previous box record in August 2022. From January to September 2022, the Brazilian port achieved a 4.9% growth, reaching a total of 3.7 million TEUs, translating to the best figure for the period. Meanw
German government approves COSCO's investment in Hamburg container terminal The German government has approved the acquisition of a minority stake of less than 25% in the operating company HHLA Container Terminal Tollerort GmbH (CTT) by the Chinese company COSCO Shipping Port Limited (CSPL). "Following the necessary investment review as required for the acquisition of shares by companies from non-European Union countries, we now have a result that strengthens HHLA's futu
Sea-Intelligence points to main freight rate inflation drivers Shipping data analysis firm Sea-Intelligence reported that it is clear the underlying costs for operating liner services have increased significantly, compared to the past two years. The size of that increase is important in assessing what the baseline rate level might settle at once we get through the present rate renormalisation, according to the Danish analysts. As a small number of container
Maryland Governor unveils new container terminal plans at port of Baltimore A new partnership between Tradepoint Atlantic and Terminal Investment Limited (TIL) has been announced aiming to the development of a new box terminal at the port of Baltimore in the United States. State and local leaders have agreed to support the continued development of the port. The partnership of Tradepoint Atlantic and MSC's terminal subsidiary aims to create a 265,000m² on-site rail served
MSC's Can Gio port development picking up traction MSC's plan to develop the Can Gio International Container Transshipment Port in Ho Chi Minh City, Vietnam is gaining pace. Phan Van Mai, chairman of the People's Committee of Ho Chi Minh City, said at a meeting on 23 October that it is actively discussing the port development with the Ministry of Transport and MSC. Located at the estuary of Cai Mep river, the Can Gio port, in a suburban coastal d
ICS suggests global CO2 reduction plan The International Chamber of Shipping (ICS) proposes a global CO2 reduction fund to reward companies that use low-emission fuels. On 25 October, ICS announced proposals to accelerate the shipping sector's transition to zero carbon by financially rewarding ships and energy producers that invest in low/zero emission fuels. In a paper to the International Maritime Organization (IMO), ICS proposes a
How to Choose the Best TMS Software for Freight Brokers What's the best transportation management software (TMS) for freight brokers? There are many software vendors to choose from-including a TMS software from DAT-but no matter which one you select, here are 5 questions you should ask the vendor: Who was this software created for? Much of the TMS software on the market today were created for carriers and fleets. Others were created for shippers and w
Kuehne+Nagel reports strong earnings growth in 2022 Kuehne+Nagel has announced a net turnover of US$31 billion, earnings before interest and taxes (EBIT) of US$3.1 billion and net earnings of US$2.3 billion in the first nine months of the year, marking the best-ever nine-months results for the company. From January to September 2022, Kuehne+Nagel achieved significant increases with its net turnover increased by 40%, EBIT by 71% and net earnings by
Maersk, CMA CGM add Shekou port call on their joint Asia - South Africa service Maersk and CMA CGM have decided to add a southbound call at the port of Shekou in China on their joint Safari/Shaka 2 service. At the same time, they will remove the call at the port of Hong Kong of the northbound rotation. The Danish carrier believes this port rotation enhancement, which will be effective from the next month, will allow them to offer "a reliable and direct connection for the Sou
Decline in spot freight rates accelerates, reports Shifl SHIFEX, a container spot freight rate index, shows that freight rates for 40' containers moving from China to the port of Los Angeles fell to US$1,825 in October, which was equivalent to the peak season rates pre-pandemic. Even as vessels continue to queue outside East Coast ports, freight rates between China-US East Coast are declining, with freight rates for 40' containers on the China-New York
Top uranium miner Kazatomprom looks to boost capacity on non-Russian shipping route Kazatomprom, the world's largest uranium miner, is looking to boost the capacity of its alternative shipping route to reduce the risk of the potential impact the growing list of sanctions on Russia could have on its exports. The Kazakh company, which ships most of its products through Russian territory, said in its latest trading update ...
Germany greenlights Cosco's Hamburg deal The German government has agreed to allow China's Cosco to acquire a reduced stake in Hamburger Hafen und Logistik (HHLA)'s operator of the container terminal in Tollerort in Germany's largest port in Hamburg. Hong Kong-listed terminal operator Cosco Shipping Ports Limited (CSPL) moved last year to take a 35% stake in the Tollerort operator (CTT), ...
DeepOcean charters in Simon Møkster MPSV Norwegian subsea services player DeepOcean has entered into a two-year time charter agreement with compatriot shipowner Simon Møkster Shipping for the 2014-built multipurpose support vessel (MPSV). The charter contract will commence in the first quarter of 2023 and have a firm hire period until the end of 2024, with an option to extend. The ...
Eidesvik Offshore PSV secures more work with Wintershall Dea Norway's Eidesvik Offshore has secured more work from Wintershall Dea for its 2013-built platform supply vessel . The German-based oil and gas producer has declared an option to extend the vessel's contract from January 2023 to July the same year. The PSV was the world's first offshore vessel with a battery hybrid energy storage solution ...
Navig8 expands new aframax pool with two more Castor Maritime ships UK-based Navig8 is bolstering its new pool for older aframax tankers with the addition of two more ships from Cyprus-based Castor Maritime. The V8 Plus Pool, created earlier this month for aframaxes over 15 years old, will add the 2004-built Wonder Avior and Wonder Musica in November. The Nasdaq-listed Castor had already three ships switched ...
Carriers under pressure to take more decisive action to stem declines It's the topic that has sparked the most debate in the container sector all month - just where is the floor for rates? Analysts seem divided on how much lower rates will head before settling at a new normal level. According to SHIFEX, one of a host of container spot freight rate indices, freight rates ...
Yangzijiang becomes first private Chinese yard to win LNG orders Chinese shipbuilder Yangzijiang Shipbuilding has marked its entry into the LNG sector, landing a contract from an undisclosed European customer for two 175,000 cu m ships. The Singapore-listed company said the units will be equipped with GTT Mark III Flex membrane tanks and delivered between 2025 and 2026. No price has been revealed, but market ...
DOF awarded $25m worth of contracts Norwegian offshore vessel owner and operator DOF Group has secured two new contracts and one extension with an estimated firm backlog of around NOK260m ($25m). In West Africa, DOF Subsea has won a contract to support a floating production unit (FPU) for a major operator. The company said it will utilise the 2009-built multipurpose support ...
Vintage VLCCs show sharp price appreciation With a time charter equivalent of around the $70,000 per day level on the freight route from the Middle East to China, VLCC secondhand prices are predicted to continue to rise. Comparing new and old sales, one can see that secondhand prices have jumped by an average of $15m per VLCC since the end of ...
Germany locks in Excelerate's FSRU Texas-headquartered floating regasification specialist Excelerate Energy has officially signed a contract with Germany for the charter of its floating storage and regasification unit (FSRU) . The deal will see the 138,000 cu m unit deployed at the planned LNG import terminal in the port of Wilhelmshaven developed by Tree Energy Solutions (TES) E.ON and Engie ...
GTT unveils cheaper triple tank gas design Paris-headquartered GTT, the world's dominant LNG containment system manufacturer, is coming up with new solutions as it faces competition in Asia. Yesterday, GTT unveiled a cheaper gas tanker design, something that has gained approval in principle from two class societies. The new three-tank LNG carrier concept permits a reduction in construction costs through the suppression ...
Baking powder rises as new green remedy for shipping Sodium bicarbonate, a substance best known for its baking qualities, has emerged as a new scrubber solution. London-based SodaFlexx has created a concept to treat exhaust gas emissions from ships with sodium bicarbonate powder. The concept was adapted from proven land-based technology, where sodium bicarbonate powder is injected directly into the exhaust gas stream to ...
Island Drilling scores new contract with Dana Petroleum Norwegian rig owner Island Drilling has won a new contract from Dana Petroleum for its 2012-built semisub . The rig will be utilised for three firm and one optional well in UK waters next year. The campaign is planned to start in April and last for about 80 days while the optional well if exercised ...
Splash Extra: Newbuild prices show first signs of decline The October issue of Splash Extra leads with data showing that newbuild prices have peaked, news that will be studied carefully by shipowners around the world who have been holding back from ordering over the past couple of years. Clarksons Research data shows prices peaked two weeks ago, while rival broker Arrow suggests the downward ...
Newbuild prices peak Newbuild prices have peaked with some experts predicting they will drop by up to 10% in the coming 12 months. Despite extensive orderbooks at yards in Asia, often stretching into 2026, and still above average shipping markets, there is now a clear trend that prices have plateaued, in no small part thanks to the drop ...
Shipping's fast-approaching demographic time-bomb There is a potentially epic demographic time-bomb coming shipping's way that far too few of us are discussing regardless of where you might stand on the whole autonomous debate. I've been fortunate enough to moderate two shipmanagement panels in the past month at our Maritime CEO Forums in Singapore and Monaco. At the former, Carl ...
October 2022 Review Europe's lawmakers last week adopted their position on draft EU rules on the use of renewable and low-carbon fuels in maritime transport - known as FuelEU Maritime - with a 2% mandate by 2030. The European Parliament is pressing the maritime sector to cut greenhouse gas emissions from ships by 2% as of 2025, 20% ...
Tankers: the crack is mighty The big news in oil refining in the last month was not the strikes in France, which shuttered three refineries for varying periods of time, nor the temporary shuttering of Permis, or of BP's Rotterdam refinery for scheduled maintenance. The big news was the record crack spread (profit margin per barrel), stretching well over $80 ...
End of the season for bulk carriers? Inflation has turned out to be higher and more pervasive than everyone hoped it would be. The US Federal Reserve has tightened monetary policy and is expected to keep raising rates until Q2 next year. This is increasing debt servicing costs across the world and driving capital outflows from so-called riskier markets. A strong dollar ...
More box pain to come There is no doubt any longer that the post-covid bounce is over. "Shippers are more cautious about the outlook on demand and are ordering less, congestion is easing with vessel waiting times reducing, ports operating at less capacity, and the container turnaround times decreasing which ultimately, frees up the capacity in the market." That's the ...
Analyst Abstract Dry Bulk Weak export volumes and lower distances have driven grain tonne-mile demand sharply lower this year. The lack of Black Sea cargoes has driven volumes lower, whilst weaker Chinese demand pulled down average distances. Looking forward over the next 12 months, the picture looks brighter, according to new research from Arrow. Hog prices and ...
High prices, limited action The two charts from VesselsValue below paint their own picture of the comparatively flat S&P market in October. The actual volume of ships changing hands has been low, yet prices remain extremely elevated. "Bulk prices are not dropping yet, although they probably should., while for tankers we are still seeing buyers for older ships," comments ...
Should shipyard waste be added to shipping's carbon footprint? Although the majority of carbon emissions from shipping currently occur during a ship's operational phase as a result of fuel combustion, the industry's decarbonisation is expected to shift this balance, with carbon emissions from components, building, and recycling accounting for a larger share of a vessel's total lifecycle emissions. The daily wastage levels at shipyards ...
Shipping should not fear change Although it takes a few years to actually create significant change, it has been a very interesting journey working to ensure that the discussions about gender equality and diversity remain in the spotlight, says the outgoing president of the Women's International Shipping & Trading Association (WISTA), Despina Panayiotou Theodosiou. "I feel we have done well ...
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The quest for reliable sources Trust and reliability. Two fundamental concepts that underpin so much of our daily lives. Sadly, they have both taken a bit of a beating in recent years. Whether it be the utterings of politicians or what we read in the mainstream media, one often finds oneself asking the question: "Can that really be true?" Why ...
Wintershall Dea expands presence in Mexico with stake in offshore Hokchi Block German oil and gas company Wintershall Dea has signed an agreement with Hokchi Energy, the Mexican subsidiary of Pan American Energy, to acquire a 37% non-operating, participating interest in the Hokchi Block, with a conditional option to increase its participation to 40% at a later stage. With this acquisition, Wintershall Dea will become the second-largest ...
Couple accused in US of defrauding investors in shipbuilding scheme US Department of Justice charges the couple with securities fraud, conspiracy, mail fraud and wire fraud for their alleged roles...
Container lines 'concerned' about EU parliament adoption of mandate for green hydrogen marine fuels WSC says mandate is not necessary and distracts from greenhouse gas intensity reduction goals outlined in FuelEU Maritime regulatory package
Japan Club will cover EU-sanctioned Russia cargoes 'We will be able to provide insurance coverage for claims below $10m, the amount retained by each club, arising out...
Product tanker companies set to smash quarterly record Investment bank's analyst Omar Nokta says tanker and gas carrier owners will report strong third-quarter results, while dry bulk earnings...
Boxship owners face scrapping quandary Overcapacity will require the removal of capacity. But with a relatively young fleet and an unbalanced orderbook, it may not...
Ningbo logistics improve as lockdown restrictions are eased City remains vigilant about a relapse into surging cases, as around-the-clock sites for PCR tests are put in place for...
Germany approves amended Cosco deal in Hamburg Cosco Shipping Ports can go ahead with a move to acquire a 24.9% stake in terminal from HHLA. Agreement comes...
DP World sees short-term risks to outlook Terminal operator expects higher volumes this year despite slowdown. Long-term prospects for trade remain good, despite immediate uncertainties
Keppel and Sembcorp agree deals in line with Singapore's green plan Singapore recently launched a hydrogen strategy to speed up its net zero goals
JCC investigates suspicious object in grain corridor A tug, and search and rescue boat have been sent from Odesa to inspect a possible mine-like object
Al Seer Marine acquires VLCC from Vitol Abu Dhabi-based company has 10 vessels in its fleet and plans to add at least two more by end of...
Yangzijiang wins first order for large LNG carriers Move comes as top-tier China-based shipyards with slots for earlier deliveries have become attractive candidates for shipowners keen to invest...
Canadian forwarders call for federal action on transport bottlenecks Canadian freight forwarders and their shipper-clients are calling on federal transportation agencies to address supply chain bottlenecks they say have resulted in delays and mounting detention and demurrage costs.
Lower Q3 volumes point to softer LTL market: ODFL Less demand for its customers' goods is cutting into tonnage and shipments at Old Dominion Freight Line, but not the company's revenue or profit.
Impact of new rules on container capacity keeps industry guessing Container analysts and carriers differ widely on how much impact two new IMO rules will have in softening a wave of tonnage hitting the water in two years, writes JOC Executive Editor Mark Szakonyi.
Falling volumes drive leaner forecast for US intermodal While US intermodal shippers are pleased service has improved, some don't need the service reliability they sought earlier in the year because of elevated inventories and fears of an economic recession.
Cosco finally secures foothold in Hamburg port Cosco's acquisition of the stake in the Hamburg terminal was subject to approval by the German government, but significant resistance due to political sensitivities prolonged the process.
Dry bulk shipping has 'underwhelming' day as world's steel demand declines China is expected to account for half of the world's steel consumption this year, according to World Steel Association
Grimaldi puts pen to paper on order for 10 PCTC's Order for five vessels plus five options inked today with China Merchants Industries
Samsung Electronics joins chorus of jilted shippers with complaint against Zim South Korean giant accuses Zim of double charging and retaliation as it failed to complete shipments
Samsung joins chorus of jilted shippers with complaint against Zim South Korean giant accuses Zim of double charging and retaliation as it failed to complete shipments
EU policy seen as blocking scale up of cross-border liquefied CO2 exports by ship Peter Livanos' new LCO2 shipping venture EcoLog makes plea for urgent action to speed up decarbonisation
Green Seas: For shipping, Egypt climate conference 'is the implementation COP' Our weekly environment newsletter talks to Katharine Palmer, a key shipping figure at the United Nations' upcoming annual climate conference
ITIC wins broker's commission in sale-and-purchase bunker row UK insurer had threatened legal action after seller withheld sales cash
Container and multipurpose ships resurface in Russian trades after sale Deals include long-delayed multipurpose newbuilding originally ordered 15 years ago
South East Asian tanker companies linked to Russian oligarch's 'dark fleet' supply line Sanctioned Venezuelan oil was unloaded in STS transfer off the coast of Malaysia, according to tanker tracking agencies
Climbing VLCC freight rates spark flurry of S&P transactions From the youngest to the oldest units, VLCCs are hot property - and they are getting hotter
Russian Sakhalin-1 exports set for rebound after ExxonMobil exit Rosneft reportedly issues tenders for six cargoes of crude oil for November after summer collapse of output
From cakes to SOx: SodaFlexx rolls out scrubbers using baking soda to neutralise sulphur emissions UK company says common ingredient is effective way to take sulphur from exhaust gases
Overcapacity in container ship market unlikely to be eased by scrapping, analysts say Number of newbuilds forecast to far outweigh potential demolition candidates
Container and multipurpose after-sale ships resurface in Russian trades Deals include long-delayed multipurpose newbuilding originally ordered 15 years ago
Sembcorp Marine confirms contract to convert cylindrical drilling units to floating LNG for New Fortress Singapore shipyard says contract mark its successful debut in the floating LNG market
South East Asian tanker companies linked to Russian oligarch's 'dark fleet supply line' Sanctioned Venezuelan oil was unloaded in STS transfer off the coast of Malaysia, according to tanker tracking agencies
Germany grudgingly approves Hamburg terminal stake sale to Cosco Business hurts against politics as Chinese giant ends up with lower share of a German facility than initially hoped
Scrubber retrofits start to 'trickle in' as container ship markets weaken Some owners now willing to dock vessels after record rate environment cools
Digitalisation remains key for Wartsila after structural shakeup Finnish group's executives explain why they can now focus on developing end-to-end solutions for shipowners
Jinhui Shipping sells third bulker this month as it 'fine tunes' fleet Oslo-listed bulker owner finds Hong Kong buyer for elderly supramax
Trafigura banks $2.4bn to manage price volatility ahead of winter Swiss trading and chartering giant refinances debt from 2019 and 2021
UniCredit loses claim against Glencore over Hin Leong transaction Singapore High Court says trader did not defraud or deceive the bank into issuing the letter of credit
Supply chain headaches threaten compliance with IMO's carbon reduction laws, V.Group says Industry has 'woken up', but practical issues emerge, says ship manager's green guru
Insurer Gard responds as crew medical claims soar Latest figures confirm worrying rise in mental health related claims and suicides
Ciner gets fresh Chinese leasing finance for a string of bulkers Turkish player lines up $136m for ships in the water and under construction
United Maritime keeps the share buybacks rolling after tanker sales Greek owner continues to boost shareholder value with open-market deals
Bangladeshi ship recyclers take to boats in big buffalo rescue mission Workers at Kabir Steel in Chattogram save valuable farm animals swept out to sea by Cyclone Sitrang
Yangzijiang cracks LNG newbuilding market with order for two ships Germany's Hammonia Reederei and Peter Dohle are being linked to the order for the 175,000-cbm gas carriers
New Andhra Pradesh ship recycling project will be an industry-wide collaborative effort Indian state's maritime board is targeting shipowners, steel mills and existing recyclers as potential investors
Andhra Pradesh planning India's first European-standard ship-recycling facilities State's maritime board deputy chief executive tells TradeWinds the beaching method will not be used
Sembcorp Marine confirms contract to convert cylindrical drilling units to FLNGs for New Fortress Singapore shipyard says contract mark its successful debut in the floating LNG market
Both sides blast proposal affecting ocean carrier profits, service contracts Ocean carrier contracts and carriers' ability to make a profit are put to the test in a proposed rule, according to reaction from shippers and carriers.
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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