World Energy Outlook paints scenarios with major implications for shipping The global energy crisis triggered by Russia's invasion of Ukraine is causing profound and long-lasting changes that have the potential to hasten the transition to a more sustainable and secure energy system,
Norwegian operator orders e-tug for Oslo Turkey's Sanmar Shipyards has booked another e-tug order. It has signed an order that will see it build a zero-emission ElectRA 2200SX design tugboat for Norway's Buksér og Berging. The order comes
Carnival will fit more cruise ships with air lubrication systems The world's largest cruise company, Carnival Corporation & plc [NYSE/LSE: CCL; NYSE: CUK] plans to expand its program for installation of air lubrication systems (ALS) to a majority of its cruise line
DeepOcean charters in Møkster subsea vessel Stril Server Oslo, Norway, headquartered subsea services provider DeepOcean has entered a long term agreement to charter the 2014-built multi-purpose subsea vessel Stril Server from Stavanger based Simon Møkster Shipping. The contract will start
IMO and WISTA introduce new platform for female speakers The International Maritime Organization (IMO) and the Women's International Shipping & Trading Association (WISTA International) have created the new Maritime Speakers Bureau platform, a speaker bank for women in shipping, aiming to end the tradition of all-male speaker panels, sometimes referred to as "manels". This will promote different role models and eliminate the excuse that 'I can't find a
Bunker indices continue downward trend Over Week 43, MABUX global bunker indices continued their moderate downward movement. The 380 HSFO index fell to US$487.96/MT, the VLSFO index, in turn, fell to US$787.40/MT and the MGO index showed the most significant drop to US$1,167.90/MT. The global weekly average Scrubber Spread (SS) - the price difference between 380 HSFO and VLSFO - showed a downward reversal in week 43 and fell below US$
Bangladesh starts dredging main navigation channel of Payra port Bangladeshi Prime Minister Sheikh Hasina inaugurated today (27 October) capital dredging works of the main navigation channel of the country's third-largest seaport, Payra port, located in south-central Bangladesh. The Dutch company Jan De Nul will carry out the dredging works of the 75-kilometre-long access channel namely Rabnabad channel which will be 100 to 125-meter wide with 10.5-meter water
Drewry's WCI registers 35th consecutive fall, loses 80% of the pandemic gains The Drewry's World Container Index took a 7% tumble to quote at US$3,145. The Index which has lost 67% annually and 70% since its peak, has now retraced over 81% of its gains ever since the pandemic hit the globe. After a series of double-digit percentage weekly losses, the magnitude of fall was reduced since the start of October. However, the 7% dip in the week was its greatest, in percentage te
First Maersk warehouse run entirely by women A.P. Moller - Maersk has increased the workforce of its new warehouse in Dadri , Uttar Pradesh, India with the addition of 84 women. The 100,000m² warehouse, located within the company's Container Freight Station (CFS) facility, is the first of its kind, with women managing and handling all operations and duties at the facility. Hand-picked from nearby villages, Maersk recruited, trained and crea
Samsung files FMC complaint against ZIM South Korea's leading electronics maker Samsung Electronics has joined the list of shippers who have complained about mainline operators' conduct to the US Federal Maritime Commission (FMC). On 26 October, Samsung Electronics' New Jersey subsidiary accused ZIM Integrated Shipping Services of imposing thousands of detention and demurrage (D&D) charges, when the Israeli carrier did not manage to de
New intra-Europe container service to start in November Sun Lines of TSG will launch a new container service between the Netherlands, Sweden and the United Kingdom in November. The rotation of the service will be Rotterdam (Netherlands) - Stockholm (Sweden) - Hull (United Kingdom) - Rotterdam. The Dutch shipping line will operate the service for both short sea as well as transshipment containers. Hutchison Ports Stockholm said the new service will giv
CMA CGM secures its move to larger terminal in Yokohama port On 26 October, CMA CGM Group and Yokohama Kawasaki International Port Corporation (YKIP) signed a reservation agreement for the Honmokufuto D5 container terminal at the Port of Yokohama in Japan. This primes the relocation of CMA CGM's current container terminal operations at D4 to D5 by October 2026, according to a statement. This agreement promises more capacity at the container terminal and a
6,500 port workers in Chile on two-day strike Port workers in Chile have begun a two-day strike action to demand better working conditions through an agreement with the country's government. Around 6,500 stevedoring workers, members of the Chilean port union, Union Portuaria, present in 23 ports and terminals throughout the country, launched a 48-hour strike on Wednesday (26 October) morning and are expected to return to work at 8:00 am on F
How can a good financial manager change your life? A financial manager is a professional who helps individuals or businesses to plan and organize their financial affairs and a good financial manager can change your life by helping you get out of debt. They will work with you to come up with a budget and make a plan to pay off your debt. A good financial manager can save you a lot of money. For example, they can help you get personal loans for deb
Top 5 Customer Service Best Practices To Follow In 2022 A customer will always prefer a seller who is providing him with the best quality, customer satisfaction, as well as loyalty. Lacking any of these practices will result in the loss of customers because they want to build up relationships with companies in the long term. One of the vital tactics of marketing is customer service and how you please your customers to the extent that they stay loyal t
Belships seals three new charters Norway's Belships has chartered out three of its ultramax bulk carriers on period contracts. The Oslo-listed company has one vessel fixed between 10 and 13 months at $17,750 per day, the second between 11 and 13 months at 16,250 per day, and the third vessel will earn $17,250 per day and be employed between five ...
Diana Shipping scores another ultramax fixture New York-listed Greek bulker owner Diana Shipping has secured a charter deal from Singapore's Delta Corp Shipping for its recently-delivered ultramax . The 20015-built 60,446 dwt ship formerly known as STH London has already started its charter, earning $17,000 per day for the next 14 and up to 16 months. The New York-listed firm, which ...
Performance Shipping charters aframax to Glencore's ST Shipping Greek tanker owner Performance Shipping has chartered out its aframax to Glencore's Singapore-based ST Shipping and Transport. The contract of the 2011-built vessel is set to commence in December at $30,000 per day and last 24 months with options to extend or reduce the charter for 45 days. Performance Shipping now has three aframaxes under ...
GasLog Partners fixes out three LNG carriers GasLog Partners has inked new multi-month time charter agreements securing employment for three liquefied natural gas (LNG) carriers. The US-listed owner and operator has fixed the 2013-built tri-fuel diesel electric (TFDE) GasLog Shanghai to Woodside Energy Shipping Singapore for two years, while a one-year charter has been agreed with an undisclosed energy major for the ...
RWE places bids for five wind permits in Polish Baltic Sea German utility RWE has submitted bids for all five areas in the latest Polish offshore wind seabed leasing round in the Baltic Sea with a total capacity of 7.8 GW. The area includes a site, located in the direct vicinity of RWE's under-development FEW Baltic 2 wind farm, for which the company has introduced a ...
Sembcorp Marine to buy Keppel Offshore & Marine under revised deal Singapore's Sembcorp Marine and Keppel Corporation have revised their merger deal which will now see Sembcorp Marine acquire the latter's offshore oil rig builder Keppel O&M in a S$4.5bn ($3.19bn) deal. The amended deal would increase the equity ratio for Sembmarine's shareholders to 46% of the new company from 44%, with Keppel and its shareholders ...
J. Lauritzen buys into Cadeler Danish maritime investment company J. Lauritzen has bought into compatriot offshore wind contractor Cadeler. "We are happy to share that J. Lauritzen has become part of the owner group of Cadeler. We are excited to be part of a visionary company that installs renewable energy for the future, the company said via LinkedIn. The BW ...
Grimaldi taps China Merchants Heavy for up to 10 ammonia-ready car carrier newbuilds Italian shipowner Grimaldi Group has signed an order for the construction of up to ten ammonia-ready pure car and truck carriers worth around $1bn. The Naples-based company has confirmed the expected order for five firm 9,000 ceu units at China Merchants Heavy Industries Jiangsu shipyard with an option for five additional ships. Grimaldi is expected ...
C-Innovation scores multi-year contract in US Gulf US marine services player C-Innovation (C-I), an affiliate of Edison Chouest Offshore, has inked a multi-year contract with an undisclosed Gulf of Mexico major, securing work for two vessels. The 2021-built C Constructor will support C-I's new well delivery program while the 2010-built Holiday has been earmarked for inspection, repair and maintenance (IRM) services. Both ...
Pacific Basin readies methanol-fuelled bulker orders in Japan One of Hong Kong's largest shipowners has come out in favour of methanol in the future fuel debate. Pacific Basin, which has around 250 bulk carriers on its books, has stated today that methanol is its preferred fuel for commercially viable zero-emission vessels. In May this year, Pacific Basin entered into a memorandum of understanding ...
Carrier complaints stack up at the Federal Maritime Commission The Federal Maritime Commission is keeping busy with an increasing intro of complaints from shippers. The latest two to emerge involve Israeli carrier ZIM and Mediterranean Shipping Co (MSC), the world's largest containerline. Samsung Electronics America has filed against ZIM, hitting out at the more than 2,000 individual demurrage charges and in excess of 7,000 ...
UK drilling workers call off strike Hundreds of drilling and contract maintenance workers have called off their strike after securing a double-digit pay rise. The Unite union confirmed that more than 450 workers covered by the United Kingdom Drilling Contractors Association had accepted the 10% increase, which is backdated to June. The union members employed by Archer, Maersk, Transocean and Odfjell ...
CMA CGM to move to larger premises at Yokohama port French liner CMA CGM will move into larger, new premises at Yokohama port in four years time. The world's third-largest carrier has signed a deal to move from terminal D4 to D5 at Yokohama in October 2026, a switch that promises more container yard capacity and a doubling of reefer plugs. The D5 terminal will ...
Elpida Petraki elected president of WISTA International Elpida Petraki has been elected as the president of WISTA International, taking over from Despina Panayiotou Theodossiou as the head of the global women in shipping organisation. Petraki has been working for Greek tanker firm ENEA Management since 1998. She also heads up WISTA Hellas and is a member of the board of directors for ...
Shipyards pitched to build new marine-based nuclear power plant Portland-based NuScale Power and Canada's Prodigy Clean Energy have announced a new conceptual design for a transportable and marine-based small modular reactor (SMR) power generating facility, which they are now pitching to shipyards to build. Compared to terrestrial deployments, the benefits of using Prodigy's technologies to deploy the NuScale power plant begins with manufacturing and ...
Al Seer Marine adds another VLCC Fast-growing Al Seer Marine has bagged another VLCC, its third in the space of four months. The company has taken the 2020-built Elandra Everest, and renamed it . Guy Neivens, CEO of Al Seer Marine, said: "The sentiment for tankers is strong, with VLCC earnings having risen consistently since June. The global tanker demand is ...
Floating offshore wind challenged by supply chain conundrum Floating foundation selection involves comparing a combination of technical and operational factors. Arguably the operational factors will have a bigger impact throughout the asset's lifecycle, says Mark Goalen, director of offshore engineering at Houlder. While the offshore wind market enjoyed its best year yet in 2021, with 21GW of capacity commissioned, only 57MW of that ...
Unionized port workers in Chile on strike for two days About 6,500 members of Union Portuaria at 23 Chilean ports began a 48-hour strike on Wednesday morning. They are expected to return to work at 8:00 am on Friday. The workers are protesting the lack of progress in contract negotiations with the Chilean government. Among other things, they are pushing for the modernisation of port ...
ExxonMobil announces two new Guyana discoveries ExxonMobil has made two discoveries at the Sailfin-1 and Yarrow-1 wells in the Stabroek block offshore Guyana, adding to its extensive portfolio of development opportunities. The company has made more than 30 discoveries on the block since 2015. The Sailfin-1 well encountered approximately 312 feet (95 metres) of hydrocarbon-bearing sandstone and was drilled in 4,616 ...
Piraeus port sees profits increase by 62% in first nine months Container handling up by 7.8% at PPA facility
Samsung files FMC complaint against ZIM Samsung Electronics America accuses ZIM of charging it "improper" detention and demurrage charges that stemmed from ZIM's own failures to...
Testing of world's first ammonia marine engine paused as Copenhagen centre upgrades safety 'We're depending on ammonia... we cannot allow any failure here. It must be a success,' says MAN B&W head of...
GasLog Partners sells another steam LNG carrier Liquefied natural gas carrier owner beats analyst forecasts with strong third-quarter profit
Sanctions will remove 2m barrels per day from Russia oil production, says IEA 'One of the effects of Russia's actions is that the era of rapid growth in natural gas demand draws to...
Japan Club cover for EU-sanctioned Russia cargoes 'little real benefit' 'Even where owners and insurers are willing and able to continue to do business in sanctions-bound Russia, the broad reach...
Russia-classed fleet to lose 9% of activity following EU ban Ships registered to Russia's classification society will be prohibited from entering EU ports from April next year. Arrivals have been...
MSC's TIL partners with local developer to establish new Baltimore box terminal New terminal will add more than 50% to the port's current container capacity, but volume growth in Baltimore lags its...
Dry bulk players issue dividends amid softer spot market Companies have mixed views on the outlook, with one expecting an improvement for the smaller-sized bulk carriers amid slowing economies...
Greek shipping executive Elpi Petraki voted new head of Wista International Greek Wista president succeeds Despina Theodosiou, who bows out after impressive five-year tenure
Europe expected to replace more Russian gas imports In the event of a full stop of Russian gas supply with a 10% demand cut, gas storage in the...
Pacific Basin favours methanol for smaller-sized bulk carriers Having identified the best type of future fuel to use, the Hong Kong-based operator says it is now embarking on...
Grimaldi firms order for ammonia-ready PCTCs The ammonia-ready vessels, which will be built at China's Jiangsu yard and scheduled for delivery between 2025 and the end...
Imperial Petroleum posts 'amazing' profit increase Chief executive Harry Vafias says results should help stubbornly low share price to lift and enable the company to avoid...
Digital communications in shipping is not a drill Lloyd's List markets editor Michelle Wiese Bockmann will feature as part of a virtual panel discussion on why shipping should...
Investigation unable to detect mine in Ukraine grain corridor The inspection did not find a mine in the grain corridor route, but a tug is escorting ships travelling today...
V.Group hires advisers to assist in proposed loan amendment and extension V.Group's debt consists of more than $500m of term loans that are due in March 2024, a $25m term loan...
Yokohama port locks in CMA CGM to new D5 terminal he new terminal will have 20% more yard capacity and over double the number of reefer plugs, while the new...
FSL Trust pockets $5m profit from product tanker sale FSL Trust recently announced it is extending its business scope beyond tankers to include the offshore and renewable segments
Daily Briefing Japan Club will cover EU-sanctioned Russia cargoes | Container lines 'concerned' about EU parliament adoption of mandate for green hydrogen...
Trans-Pac schedule reliability improved again in September Carriers in the eastbound trans-Pacific continue to improve their on-time vessel arrivals at US ports as softer import volumes contributed to reductions in vessel backlogs and marine terminal congestion.
US trade groups urge Biden to re-engage to avert rail strike Now that a second rail union has rejected the tentative contract deal brokered by the Biden administration, trade associations are asking the White House to intervene before a potential November strike.
US truckload spot market likely at a bottom: Schneider Schneider says the peak season will be muted because shippers moved inventory into warehouses earlier this year, but the weaker volumes do not necessarily mean steep rate cuts for shippers in 2023 contracts.
Houston approves long-dwell box fees to prod shippers The move to impose fees on long-dwelling containers comes as the import backlog at Port Houston has created truck queues outside its terminals and increased turn times for drivers.
Shippers turning to spot market as demand, rates weaken: K+N The severe space constraints that drove container shipping rates to record levels over the past two years are over, easing shippers' reliance on long-term fixed rates.
Irreconcilable issues prolonging West Coast longshore labor talks The longer it takes for the ILWU and West Coast longshore employers to agree on a new contract, the threat of disruption grows and more cargo will be diverted elsewhere - some of it permanently.
Geodis RFP effort a sign of growing automation adoption A Geodis initiative around automating service requests from shippers is an example of growing consumption of robotic process automation in the third-party logistics industry.
Singapore bulker operator looks for $2.3m from mysterious Texas outfit Tomini Felicity jumped from terminal to terminal, running up a substantial bill, registered owner alleges
Diana Shipping fixes ultramax bulker period deal in rising market New York-listed owner signs $7m deal with Delta Corp Shipping that starteed on Thursday
IEA: Ammonia key fuel for shipping to hit climate change goals International body says current IMO proposals fall short if shipping is to limit temperature rises to 1.5C
Performance Shipping fixes third tanker on period deal In total, three recent time charter deals will provide the company $46.9m
LNG shipping to remain tight for 'foreseeable future', GasLog Partners says Paolo Enoizi-led company cashes in on newfound S&P liquidity for sector but shies away from talk of growth - for now
Conflict and profit will slow flow of tankers to breaking yards, BRS says French broker is forecasting only 39 ships of MR size and above to be scrapped in 2023
'Difficult' box market not yet pre-Covid, says DHL Supply chain problems in container shipping could run for the next two years
Dorian LPG making the extraordinary ordinary with $40m payout 'Irregular' dividends are becoming a habit in thriving VLGC markets
Streetwise: Why Robert Bugbee fears another upgrade from his 'favourite' investment bank Shipping finance newsletter explores the complicated relationship between Scorpio Tankers and analysts at Deutsche Bank in a banner year for the shipowner
GasLog Partners charters out more LNG tonnage in hot market Greek shipowner announces three new term deals as it strikes a new sale-and-leaseback deal and concludes another
Rederi Gotland moves closer to tanker exit with sale of MRs Swedish owner focusing on passenger shipping as it takes advantage of higher asset prices
Japan P&I Club sounds warning over cover limits for sanctioned shipments Insurance mutual can provide only limited cover for ships carrying Russian cargoes
Pacific Basin opts for methanol on next generation of newbuildings Bulker owner has completed study of options with Nihon Shipyard and Mitsui & Co
DOF Group debt swells to $2.5bn as critical restructuring deadline nears Norwegian offshore vessel owner's borrowings increased by US dollar strength ahead of creditor votes on rescue plan
'Few worrying signs' as SpareBank 1 increases shipping lending Norwegian bank saw lower loan losses in the third quarter as its shipping and transport portfolio rises to $1.33bn
Grimaldi puts pen to paper on order for up to 10 PCTCs Order for five vessels plus options for five more signed with China Merchants Heavy Industry Holdings
Blinken says New Taiwan crisis will hit global trade US Secretary of State warns of major impact on world economy if tensions continue
IEA: Russia's oil export decline will be permanent Global energy outlook predicts that Moscow's net oil exports will fall by one-quarter to 2030
Comite Maritime International elects first woman president Global maritime law factory that was 'the IMO before there was an IMO' has reported progress and setbacks towards key treaties
BRS sees appetite for tanker orders rising despite looming recession Three-year lead time for deliveries means economic slump will not dent shipowners' growing enthusiasm
Hyundai yards finally return to profit after being in red for the last three quarters A favourable exchange rate has helped to lift the KSOE's earnings
Insurer Steamship Mutual targets 7.5% general increase Underwriting results have improved at the club, but it has been hit by negative investment returns
Clarksons says Navigator's gas fleet is a good bet on US energy dominance Analysts believe owner will benefit from cost advantage of US feedstocks
Prices rise as mystery buyers flock to older VLCCs to serve Russian trades But jump in value for ageing tonnage is not filtering through to younger vessels despite an apparently buoyant market
Mystery buyers eschew modern VLCCs hiking prices for older ships to serve Russian trades But price rises for ageing tonnage are not filtering through to younger vessels despite an apparently buoyant market
Insurer Steamship Mutual targets 7% general increase Underwriting results have improved at the club, but it has been hit by negative investment returns
Hoegh Autoliners sees tonnage tightness continuing as profit jumps to $92m Norwegian car carrier owner says port congestion and supply chain disruption is easing
Al Seer Marine continues VLCC buying spree with third ship in four months Middle East owner takes spending on large crude tankers to over $245m on the back of strengthening market
TMI sees potential for handysize recovery when US grains start moving London-listed owner says weaker market has been triggered by unwinding of port congestion
Harren Group sets up shop in Africa with Nigeria outpost German shipping and logistics eyes potential for all its activities across heavy lift as well as tankers and bulkers
China's Xi Jinping: captain of the global ship Chinese president's rising power will continue to have ramifications for the maritime sector
Tianjin Southwest Maritime makes debut in LNG sector with $750m order Chinese shipowner has teamed up with CSSC Ship Leasing to order three vessels at Hudong-Zhonghua backed by charter contracts
MOL set to partner Cosco on order for up to five LNG carriers at Dalian Shipbuilding Duo lined up for up to five nine newbuildings sought by Sinopec, with Shandong Shipping unmasked as provider of remaining quartet
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