Maersk adds new weekly rail service in India A.P. Moller - Maersk has announced another weekly, dedicated rail service, the 'Pratigya Express', from Sonipat Inland Container Depot (ICD) in National Capital Region (NCR) to APM Terminals Pipavav Port on the western coast of India in Gujarat. Maersk's new 'Pratigya Express' service on the Western Dedicated Freight Corridor (DFC) will move 90 TEUs every week. "The NCR is abundant with retail an
Crew released from twice-hijacked South Korean tanker South Korea's Ministry of Foreign Affairs said today (25 November) that the crew on a South Korean-owned oil tanker has been released unhurt after the vessel was hijacked on 24 November. The 5,700 DWT products tanker, B. Ocean, owned by SK Shipping, was manned by two South Koreans and 17 Indonesians when it lost contact around 7 am South Korean time on 24 November. At the time, B. Ocean was 200 n
Ship robbery in Mongla port - ReCAAP concerned over piracy in Singapore Strait Bangladesh Coast Guard has recovered a huge volume of goods looted from a Liberian flag carrier vessel at Mongla port on 24 November. A group of pirates on Tuesday (22 November) night boarded the ship namely AS Elenia which was anchored at the outer bar of the Mongla port. The robbers took away huge volumes of paints, machinery, ropes, gas cylinders, etc from the ship in two small boats by breaki
Port of New York and New Jersey overtakes San Pedro Bay giants for third consecutive month Port of New York and New Jersey is the busiest container port in the United States for the third month in a row, handling 18.9% more boxes in October 2022 over pre-pandemic October 2019. In particular, the Port of New York and New Jersey moved 792,548 TEUs in the previous month, surpassing the two container giants on the West Coast of the United States, the Port of Los Angeles (POLA) and Port of
Box rates could deteriorate to pre-Covid levels in December Further slides in the Shanghai Containerized Freight Index (SCFI) are continuing, and it is expected that in December, freight levels will be at pre-pandemic levels. On 18 November, SCFI stood at 1,307 points, plunging 74% from an all-time high of 5,110 points on 7 January, and bringing the index near the 1,000 points seen in January 2020, just before the Covid-19 crisis erupted. Shanghai-North E
China ports handle 245 million TEUs so far with Shanghai, Ningbo and Shenzhen taking lion's share The container throughput of Chinese ports reached 244.9 million TEUs from January to October 2022, which represents a year-on-year increase of 4%. Additionally, Chinese ports have seen a slight year-on-year growth of 0.5% in terms of tons, handling 12,933.8 million tons in the first ten months of the year. The chart below shows the cargo throughput and container throughput data of the twelve majo
GAC involved in Greece's first LNG ship-to-ship transfer The first-ever ship-to-ship (STS) transfer of liquefied natural gas (LNG) in Greek territorial waters has been successfully completed with the support of GAC Greece's shipping and project logistics teams. About 140,000 m³ of LNG was transferred from Hoegh Norway's tanker Arctic Princess to GasLog Athens, a new Floating Storage Unit (FSU) currently anchored at Pachi, west of Athens, the capital of
Scientific Essay Format: Definition and Features A scientific essay requires students to analyze a scientific problem. Based on the information they get, they have to develop a workable solution. The writer is expected to provide their opinion on the issue. The essay features an abstract, introduction, methodology, results, discussion, and references. The introduction provides the hypotheses to be tested. The methodology describes in detail how
Does The Death On High Seas Act Apply To Oil Rig Workers? It can be complicated when a crew member dies on an oil rig because they aren't on a boat. There are laws in place that protect seamen, but oil rig workers are in a gray area concerning death. Fortunately, the Death On High Seas Act applies to oil rig workers. Their surviving family members are able to receive wrongful death benefits on their behalf. When an oil rig worker dies, they leave behind
Nexans picks up Celtic Interconnector contract Paris-based cabling firm Nexans has won a contract for the interconnector project that will directly link the French and Irish electricity grids for the first time. The project called the Celtic Interconnector, developed by the joint venture between transmission system operators RTE and EirGrid, will connect Ireland to mainland Europe with a 700MW capacity, equivalent ...
Awilco LNG ties up fresh time charter Norwegian owner Awilco LNG has landed a new time charter contract with an undisclosed major utility for the 2013-built LNG carrier, . The charter of the 156,000 cu m vessel is for about 18 months, commencing in direct continuation of the current charter. The contract is estimated to contribute to an EBITDA of about $73m ...
Record Chinese covid cases spark concern The number of covid cases in China has spiked to record highs this week as officials ordered lockdown measures in major cities, including Zhengzhou, where protests were staged at the largest iPhone factory in the world. More than one-fifth of China's total gross domestic product (GDP) is currently under lockdown, according to a report issued ...
Korean tanker hit by pirates for second time this year Two South Koreans and 17 Indonesian sailors kidnapped on international waters in West Africa have been released unharmed. The 4,000 dwt tanker, , owned by South Korean shipping company SK Shipping, was hit by pirates for the second time this year. Pirates stole petroleum cargoes as well as destroying much equipment onboard. The ship is ...
STX Dalian restarts shipbuilding with order for four handy bulkers One of the largest shipbuilding bases in China is being resuscitated after an eight-year hiatus due to bankruptcy. STX Dalian Shipbuilding has won orders to build four 20,000 dwt handysize ships, according to Caixin, a well-respected Beijing-headquartered financial newswire. In July this year, Hengli Heavy Industry Group, a subsidiary of petrochemical giant Hengli Group, paid ...
Biden administration approves application for new oil export project on Texas coast The US Maritime Administration (MARAD) on Tuesday approved the application for the Sea Port Oil Terminal (SPOT), a new offshore oil export terminal in the Gulf of Mexico. The facility will be America's largest oil export terminal, expected to add 2m barrels per day to US oil export capacity. The decision requires SPOT LLC to ...
Canada's energy service contractors seek new tax credit to help cut emissions The Canadian Association of Energy Contractors (CAOEC), which has a mandate to promote a strong energy services industry in Canada, is lobbying the federal government for a 50% refundable tax credit for drillers looking to put new carbon-abatement technologies into service. "The challenge for our industry is there's a lack of capital interest in the ...
Hong Kong: Owners battle to right the ship Wellington Koo, chairman of the city's shipowning association, knows how to get Hong Kong back on the maritime map. Will the authorities listen? The concluding instalment from our Hong Kong special. Wellington Koo has followed his forebears to assume chairmanship of the Hong Kong Shipowners Association (HKSOA). Arguably his two-year rein at the influential local ...
Shipping on high alert amid warning of more drone attacks Drones are increasingly being used to attack commercial vessels operating in the Red Sea and Middle East Gulf. There have...
CMA CGM shores up finances ahead of downturn Carrier has paid down its debt and invested in sectors adjacent to its shipping concerns. Warns that inflationary environment is...
Technical departments 'too stretched to future-proof ships' An overlooked impact of the pandemic has been the downsizing of shipping companies' the teams which will be critical to...
Waiting for IMO: Don't let nothing happen twice When it comes to climate change, shipping cannot be reduced to the roles of the hapless tramp protagonists of Samuel...
Data corroborates reports of Novorossiysk drone attack on oil terminal Reports reflect a major escalation in risk for shipowners calling at the Black Sea port that exports 40% of Russian...
Recent tanker sales dominated by 'undisclosed' buyers Half of all tanker sales so far this year are estimated to have been purchased for the trading of Iranian...
Coal trades shake-up to continue to benefit bulkers Europe will be forced to look further afield for coal after being told to cut back on Russian supplies. Elsewhere...
Between the lines: Stemming the decline Carriers are pulling capacity in face of reduced demand, but not fast enough. Schedule reliability is improving as congestion eases
Sharp rise in demand for dual-fuel newbuild orders Owners' appetite for methanol-fuelled ships is increasing, while a surge in large LNG carriers has also helped lift the market...
Top 10 technology leaders 2022 Our build up to One Hundred People 2022 moves on to looking toward those at the forefront of maritime technology...
SK Shipping tanker contact lost in Gulf of Guinea Ship left Sierra Leone's Freetown anchorage last week and is listed as heading for open sea with no specific destination
Daily Briefing Aframax tanker freight rates hit 17-year high ahead of Russian oil bans | Gallagher predicts rates for hull and machinery...
Retailers bank on themselves to handle final mile Retailers that have seen final-mile costs more than double during the pandemic are increasingly making investments in their last-leg delivery networks.
Tanker S&P index soars to highest level since January 2009 as bulkers hit 14-month low Sales volumes slip back in both sectors, but it does not prevent tanker values from continuing to soar
ICS tells Nigeria to free Heroic Idun crew The 26 seafarers have been held since 12 August for alleged oil theft and falsely reporting piracy
North P&I Club seeks to counter turbulent times with a 10% rate hike Management say claims are down, but economic uncertainties lie ahead
No cooling for 'super-tight' western VLGC market Fearnley Securities sees lack of vessels keeping rates buoyant in December
Daily swings can be deceiving as VLCC supply stretched thin, Clarksons says Analysts argue small variations in activity can lead to huge moves in spot earnings
Editor's selection: Carbon drive shifts from COP to MEPC; Boxships' blank Xmas blitz; Tanker owners 'dirty up' At a glance: some of the biggest stories of the week brought to you by TradeWinds' global team of journalists
The best offence is a good defence for bulker owners as outlook looks bearish Will owners get more involved with cargo trading to ride out weaker markets in the future?
Higher interest rates could help owners dodge insurance hikes, says Gallagher Broker predicts inflation and reinsurance concerns will push up the cost of hull and machinery insurance
'Super-tight' western VLGC market not cooling down any time soon Fearnley Securities sees lack of vessels keeping rates buoyant in December
EU nations wrangle over Russia price cap level Tanker owners left waiting for a decision as crude import ban looms
Awilco LNG locks away TFDE vessel on 18-month charter Two-ship LNG carrier owner now officially sold out for 2023 and 80% of following year
Damen Shipyards and NIBC providing more cash for newbuild leases Dutch yard and lender extending deal to help owners build emissions-reducing ships
Awilco LNG locks away TFDE vessel on eighteen-month charter Two-ship LNG carrier owner now officially sold out for 2023 and 80% of following year
'Smart' money: Avance Gas mulls newbuilds but prefers rewarding shareholders, for now Boss explains what VLGC owner could do with huge cash pile
CSSC Shipping moves into wind with purchase of WTIV newbuilding in China Leasing company teams with CGN International to charter vessel to wind power company Summer Bihai
Shipowners should benefit from a 'remarkable' year of low pool claims, says broker Aon International Group pool claims picking up but remain low
Reach Subsea buys its first ship for $29m to secure offshore capacity Norwegian operator strikes deal with Ostensjo Rederi for the Edda Sun
SK Shipping tanker hijacked off West Africa for second time this year Cargo stolen as pirates board the B.Ocean again
NYK Bulk and major copper producer aiming to make shipments greener The two companies may involve third parties to decarbonise the supply chain of copper products
Keppel pockets $160m from sale of first of ex-Tor Olav Troim rigs Singapore yard group says delivery of rig will reduce its financial exposure to the legacy assets
Improving offshore market helps Marco Polo Marine boost profit by 20% Singapore-listed company's performance also boosted by acquisitions in Indonesia and Taiwan
Gulf Coast ports continued to see rising volumes in October Gulf Coast ports got a boost in October from imports of steel, plywood and bagged goods, as well as exports of crude oil.
FreightWaves Flashback: E-shipping blues 1999: eBay ushers in e-commerce's most dramatic distribution channel disruption in decades.
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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