Sembcorp Marine delivers second 8th generation drillship Delivered to Transocean subsidiary Triton Titan GmbH by Singapore's Sembcorp Marine, the Deepwater Titan is the world's second eighth-generation drillship. Like the Deepwater Atlas, delivered earlier this year, it is built to
Newly-passed legislation includes $350 million for USCG Great Lakes icebreaker Among the many pieces of legislation tacked onto the massive just-passed National Defense Authorization Act was the Great Lakes Winter Commerce Act. It is aimed at updating the Coast Guard's Great Lakes
MSC overtakes Maersk in November schedule reliability The Danish maritime data analysis company Sea-Intelligence has reported that global schedule reliability improved by 4.7% month to month in November 2022 and reached 56.6%. The average delay for LATE vessel arrivals has also been improving consistently since the start of the year, according to the report. Source: Sea-Intelligence.com, GLP Report, issue 136 Source: Sea-Intelligence.com, GLP Report
Hapag-Lloyd confirms temporary rotation change in Indamex 2 service Hapag-Lloyd has announced that its Indamex 2 (IN2) service will have a temporary rotation change, according to which the port of Jeddah in Saudi Arabia will be called on the next Westbound route. The updated rotation for the service, which connects North America with the Indian Ocean, will be the following: Port Qasim (Pakistan) - Mundra (India) - Nhava Sheva (India) - Jeddah (Saudi Arabia) - Nor
Port of Oakland sees reduced box traffic in November Port of Oakland's container volume dropped in November with both full imports and full exports being at lower levels compared to November 2021 and October 2022 volumes. Total loaded container volume declined 15% from November 2021, recording 131,929 loaded TEUs. November full imports of the Californian port decreased by 17.4% year on year, reaching 68,646 TEUs. At the same time, full exports were
Saudi Arabian investment firm buys minority stake in DP World's flagship assets Saudi Arabia-based Hassana Investment Company, the investment manager for the General Organisation for Social Insurance (GOSI), has decided to invest approximately US$2.4 billion in three of DP World's flagship assets in the United Arab Emirates (UAE). Hassana will invest in a new joint venture with DP World through which it will hold its economic interest in a stake of approximately 10.2% in Jeb
Euroseas joins boxship scrapping trend Greek tonnage provider Euroseas has sold a 2001-built Panamax container ship for recycling, joining Evergreen Marine Corporation and Shreyas Shipping & Logistics, which offloaded ships for demolition earlier this month. Singapore-based Star Asia Shipbroking said in its latest report that the Aristides Pittas-led Euroseas had sold the 5,610 TEU Akinada Bridge for a firm US$14.25 million, or $596/l
MSC launches direct service connecting East and West Mediterranean MSC announced the opening of a new direct service between Türkiye, North Africa, Portugal and Spain. The purpose of this new service is to enhance connections between the East and West Mediterranean, and offer competitive transit times. The new container service will rotate as follows, Mersin (Turkey) - Aliaga (Turkey) - Derince (Turkey) - Tekirdag (Turkey) - Algiers (Algeria) - Casablanca (Moroc
Euroseas offloads vintage post-panamax boxship for $14.2m Greek boxship owner Euroseas has sold the 2001-built post-panamax for $14.2m. The Nasdaq-listed firm said the 5,610 teu vessel should deliver in January next year. Akinada Bridge has been in drydock since October 2022 after coming off a $20,000 per day charter with Israeli carrier ZIM. After the sale, the Aristides Pittas-led Euroseas will have ...
Germany's RWE secures long-term Port Arthur LNG supply RWE Supply & Trading, a unit of German utility RWE, and Sempra Infrastructure, a subsidiary of New York-listed Sempra, have signed a sale and purchase agreement for the supply of around 2.25m tonnes per year (mtpa) of liquefied natural gas from the planned Phase 1 of the Port Arthur
Retail shipments slow in North America Data suggests inflation-stricken consumers were exercising extra caution when entering the holiday season. But some expect the Christmas and the...
Chevron delivers first biofuel bunker to Ocean Network Express ONE in February last year earmarked biofuels as a viable decarbonisation pathway after a successful trial on one of its...
Falling US imports drive improved schedule reliability for carriers Globally, schedule reliability in November increased in 31 of the 34 trade lanes measured by Sea-Intelligence Maritime Analysis, with 56.6 percent of vessels arriving on time overall.
Pandemic profits leave 3PLs well positioned as freight demand wanes After two years of record profits, a continued softening of demand and increased competition will put forwarding margins under pressure in the first half of 2023.
Sealand takes slots on restarted US-Venezuela service As the US eases sanctions that have helped cripple the Venezuelan economy, Maersk's Sealand subsidiary is taking a small step to re-establish trade ties by offering a weekly service between the two countries.
US West Coast ports start 2023 virtually congestion-free After a messy 2022, the West Coast is starting 2023 nearly congestion-free as worries rise about how much market share has been lost to the East and Gulf coasts.
Fewer port delays may cause 'downbeat 2023' for dry bulk shipping, MSI says Port congestion may continue next year because ports do not have enough capacity to meet trade growth, expert argues
Euroseas offloads container ship for $14.2m in reported demolition deal Scrapping prices for feeder and intermediate boxships have fallen since a year ago, according to VesselsValue
Vitol out 'tens of millions' after Brazil tanker cargo seizure Trader Vitol claims it is out "tens of millions of dollars" after a new customer in Brazil allegedly reneged on a series of shipments
Double-digit demand growth forecast for tankers in complex trades Russian retaliation is the latest obstacle for shipping industry to navigate in 2023
Ferry from the sky wins 2022 British ports photo award Andrew Simpson was one of four main winners for his drone shot of a ferry in Lerwick Harbour
Russian war risk rates primed to sky rocket as exclusion clauses limit insurance capacity Underwriters say despite reinsurers withdrawal from the market cover will be available, but at what price?
Buoyant markets drive brisk S&P in secondhand LPG carriers Buyers from Vietnam to Turkey are swooping on older vessels sold by players like BW LPG, Exmar and Zodiac
Sailmaker looks to IMO rules for fleet deals and profit Rotor sail innovator Norsepower looks for CII and EEXI-conscious shipowners to install its wind-power tech in 2023
Oshima targets spring start at newly acquired Koyagi shipyard Take over of one of the world's largest shipbuilding facilities from Mitsubishi Heavy Industries is complete
Russia hits back at G7 oil price cap with ban of its own Executive order prohibits oil sales to foreign companies involved in the price cap, but allows for 'special decisions'
Insurer adds to pile of ONE Apus claims after Crocs go overboard Germany's HDI Global files lawsuit against Philadelphia freight provider
Chance that container ship arrives on time is still a coin toss Container shipping lines are gradually getting their services back on schedule, but they still have a long way to go.
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