MetalCraft Marine wins $31 million USCG Interceptor contract MetalCraft Marine Inc. (MCM) has been awarded a $31 million contract from the U.S. Coast Guard (USCG) as part of its Long-Range Interceptor (LRI) III program. This is the second contract MCM
VIDEO: ABB unveils new Dynafin propulsion concept ABB has unveiled a new electric propulsion concept called ABB Dynafin. Inspired by the dynamic motions of a whale's tail, it promises to reduce propulsion energy consumption by up to 22% compared
Ship Repair USA: Using a marine chemist as a third-party inspector Shipyards are full of hazards, as are many other industries. While shipyard and repair operators are aware of this fact, what some may overlook is the importance of consulting with a certified
New Orleans Steamboat Company charged with CWA violation According to the U.S. Attorney's Office for the Eastern District of Louisiana, New Orleans Steamboat Company (NOSC), was charged on May 26, 2023, with violating the Clean Water Act (CWA) in connection
FMD signs exclusive agreement to deploy secure LiFi connectivity Beloit, Wis., based Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management, is giving its customers in the U.S. defense industry access to LiFi, an ultra-secure mobile wireless technology that
Davie Shipbuilding completes STQ ferry repair Lévis, Quebec, based Davie Shipbuilding Canada Inc. has redelivered the Société des traversiers du Québec (STQ) ferry MV Félix-Antoine-Savard after repairs that required over 30,000 hours of work, and the replacement of
Port of Seattle commissions third shore power system at Pier 66 The "world's first" port with three ship shore power systems for cruise liners to turn off diesel engines and connect to shoreside electricity to reduce emissions. By Del Williams, Technical Writer The
Asia-US container exports continue downward trend Outbound container trade from 18 Asian economies to the United States decreased by 17.9% year-on-year to 1,543,889 TEUs in April, according to the Japan Maritime Center (JMC), while for the first four months of the year, exports from Asia to the US fell by 25.2% to 5,540,313 TEUs, compared to the same period in 2022. Asia-US exports show a year-on-year downward trend for eight consecutive months.
Port of New York and New Jersey nears 650,000 TEUs in April The Port Authority of New York and New Jersey announced it handled 648,930 TEUs in April, positioning the port as the second busiest port in the United States for the first four months of the year. "The import of fewer than 23,000 loaded TEUs separated the country's top three busiest ports in April as US retailers work to move out goods stored in domestic warehouses during last year's supply chai
Hutchison Ports plans net-zero emissions in UK by 2035 Hutchison Ports has set an aim of achieving net-zero emissions for its three ports in the United Kingdom, Port of Felixstowe, Harwich International, and London Thamesport, by 2035. On 20 May, the Port of Felixstowe turned on two new 11Kv high voltage substations to support the charging infrastructure for its conventional electric tractor fleet. Each substation will allow 20 vehicles to be charged
PIL completes first avocadoes shipment from Africa to Asia with Carrier Transicold's EverFRESH Active CA System Pacific International Lines (PIL) has successfully transported its first shipments of avocados from Kenya to Brunei using Carrier Transicold's EverFRESH® atmosphere control system. In particular, EverFRESH reduces respiration and slows natural ripening of commodities by optimising oxygen and carbon dioxide balance. The positive pressure effectively built up inside the container reduces box air le
Yang Ming orders five 15,500 TEU LNG dual-fuel vessels Yang Ming and Hyundai Heavy Industries (HHI) have reached a shipbuilding deal for five 15,500 TEU LNG dual-fuel container ships. These new vessels will be delivered in 2026 as part of Yang Ming's mid-long-term fleet strategy. The new container ships will be built at the Hyundai Heavy Industries shipyard and will be outfitted with a high-pressure LNG dual-fuel main engine and a ballast water treat
Gothenburg Port Authority appoints new CEO Gothenburg Port Authority has selected Göran Eriksson as the new chief executive officer (CEO), replacing Elvir Dzanic, the current CEO, on 7 August. "I am enthusiastic about the task and firmly believe that continued collaboration among all stakeholders in the business community is essential for a rapid transition to sustainable and efficient transportation systems," stated Eriksson, who is curr
Tonnage providers' fleet contracts with continued sales and few orders Tonnage providers have continued to reduce their fleets, after selling 71 ships to liner operators, particularly MSC and CMA CGM, in the last six months. Alphaliner's latest report noted that since August 2020, tonnage providers have sold just under 700 boxships, amounting to 2.27 million TEUs, to liner operators which furiously acquired second-hand ships to manage rising charter costs at the tim
Kalmar introduces collision warning system for straddle carriers Kalmar is introducing a collision warning system for its manually operated straddle carrier portfolio, which will be available as an optional add-on for new machines and a retrofit upgrade for existing machines. Kalmar said the new system increases safety by providing the driver with both visible and audible warnings when there is a risk of collision, giving them more time to react to potential h
Port of Aberdeen to explore subsea hydrogen storage The Scottish Government and Subsea7 have awarded the Port of Aberdeen approximately US$185,000 grant to explore the viability of storing hydrogen underwater at the new Aberdeen South Harbour. The project 'H2Shore - Hydrogen coastal storage and distribution' will perform extensive technical evaluations to establish the most effective technological method and an acceptable offshore location. In add
Port of Corpus Christi announces interim CEO Port of Corpus Christi Commissioners named Port of Corpus Christi Chief Financial Officer (CFO) Kent Britton as Interim Chief Executive Officer (CEO), effective 1 June, following the departure of CEO Sean Strawbridge. Prior to joining the Port of Corpus Christi in 2017, Britton worked as CFO for the Glencore-owned Sherwin Alumina Company. He took over the same role at the US port in 2019. "As int
Convoy Beverage Alliance joins Northeast Florida's Foreign Trade Zone Convoy Beverage Alliance (CBA), a Florida-based warehouse and transportation provider for alcoholic beverage firms, has joined Northeast Florida's Foreign Trade Zone (FTZ) No. 64, Florida's largest FTZ by area. CBA's 20,439-square-meters Jacksonville wareho
Whale's tail-inspired propulsion set for 2025 debut Taking inspiration from a whale's tail, ABB today introduced a new propulsion system concept for the marine industry, with plans to roll out the first prototype in 2025. The new propulsion concept, which mimics the movements of a whale tail, features a main electric motor that powers a large wheel rotating at a moderate 30-80 ...
EDF Renewables forms Irish floater JV EDF Renewables has struck a deal to expand its Irish offshore wind portfolio, adding a pair of floating wind projects to its list. The subsidiary of French utility EDF has formed a 50:50 joint venture with local developer Simply Blue Group to develop the Western Star and Emerald floating offshore wind projects with a combined ...
Helix lands significant US Gulf of Mexico decommissioning contract Houston-based offshore energy services player Helix Energy Solutions has landed a significant decommissioning contract in the US Gulf of Mexico set to commence in mid-2023. The company's subsidiary Helix Alliance will execute the contracts that cover the plug and abandonment of 39 wells, 15 pipelines and seven structures. The Louisiana-based unit will utilise the EPIC ...
Seacon adds to growing orderbook Hong Kong-listed Seacon Shipping has expanded its orderbook with a fresh deal for another newbuild in Japan. The Qingdao-based company has tapped Murakami Hide Shipbuilding to have the 13,500 dwt general cargo vessel delivered by June 2026 for close to $16.8m. In April, the Chinese shipowner and operator contracted Tsuneishi Shipbuilding to build a pair ...
Grieg Maritime signs for up to four ammonia-ready open hatch newbuilds Norway's Grieg Maritime Group has contracted CSSC-affiliated Huangpu Wenchong Longxue yard for up to four ammonia-ready 82,300 dwt open hatch vessels. No price has been revealed for the order, which includes two firm vessels with an option for a further pair. The first of the four vessels will deliver in the spring of 2026, with ...
Woodside selects decommissioning team Woodside Energy has completed the award of all major contracts for the decommissioning of subseainfrastructure at the Enfield, Griffin, Stybarrow and Echo Yodel oil and gas fields offshore Western Australia. The contracts cover the removal and disposal of riser and disconnectable turret moorings, umbilicals, flowlines and other subsea infrastructure. Specialist contractors engaged to undertake ac
Ultramax newbuilds primed with onboard ammonia-to-hydrogen cracking Oslo-based Pherousa Green Shipping, together with Pherousa Green Technologies, is set to place an order for up to six ultramax dry bulk carriers with ammonia-to-hydrogen cracking technology onboard. Ammonia cracking is the process by which ammonia is decomposed into hydrogen and nitrogen over a catalyst. The initial ship design is based on an existing ultramax ...
Fredriksen renews attack on International Seaways board The annual general meeting at US tanker owner International Seaways promises to be feisty as a famous investor makes his feelings known to top management. John Fredriksen, via his investment vehicle Famatown Finance, issued an open letter yesterday, expressing his frustration with the board's refusal to engage with his firm Seatankers on shareholder value-creation. Fredriksen ...
Frontline offloads suezmax for $44.5m John Frederiksen's Frontline has sold its 2010-built suezmax tanker, to an unnamed buyer for $44.5m. The 156,000 dwt vessel, online pricing platform VesselsValue lists as worth $40.7m, is expected to change hands in the second quarter of 2023. Cyprus-based Frontline, which logged its highest first-quarter profit since 2008 of $199.6m, said the deal should generate ...
Allianz reports record low ship losses Shipping reported a record-low number of large ships lost over the past year, according to an annual report published yesterday by German insurer Allianz. However, the study warned a combination of factors impacting fire risk, ongoing and new threats posed by the ripple effects of the Ukraine conflict, decarbonisation challenges, economic uncertainty, as well as ...
Cyan seals Taiwan offshore wind vessels deal Singapore-based Cyan Renewables has teamed up with Taiwanese offshore wind developer Taiya Renewable Energy to build vessel capacity and work together on deployment in Taiwan and other markets. Taiwan is one of the most advanced and promising markets for offshore wind development with a target to add 15 GW of offshore wind power capacity by ...
UN operation underway to prevent catastrophic oil spill in Red Sea The United Nations yesterday started a challenging operation to remove more than 1m barrels of oil from the FSO Safer - a decaying supertanker moored off Yemen's Red Sea coast that threatens a humanitarian and environmental disaster. In a critical step forward in the operation, the salvage support vessel Ndeavor, operated by lead marine salvage ...
What the oncoming El Niño weather phenomenon will mean for global shipping Meteorologists warn there's a 90% chance of the El Niño weather phenomenon hitting this year with widespread repercussions for shipping from weaker agricultural output to greater storms in the Pacific and lower drafts along key waterways such as the Panama Canal. Satellite imagery already shows the early warning signs of the wild weather to come ...
PGS scores Norwegian Sea survey Norwegian offshore seismic player PGS has secured industry pre-funding for another large multi-season, multi-client survey in the Norwegian Sea. The first phase of the survey will be acquired in 2023 by the 2017-built Titan-class vessel. The acquisition is set to kick off in late June and last for about 75 days. The second phase ...
Nearly a quarter of Venezuelan crude exports now heading to the US Nearly a quarter of Venezuelan crude exports are now heading to the US, according to a new report from broker Braemar. The easing of US sanctions has seen nearly a quarter of Venezuelan crude head to the US in the first four months of 2023 in a dramatic shift for tanker trading patterns in the ...
Asian coal shipments soar as continent swelters from early heatwaves Extraordinary heatwaves being recorded over the past few weeks in many Asian countries are seeing higher than normal purchases of coal for this time of year. Just four countries now account for over half of all thermal coal imports and more than 70% of global power sector emissions from coal use, new data shows. China, ...
Odfjell Drilling secures more Norwegian Sea work for CIMC semisub Oslo-listed semisub rig operator Odfjell Drilling has secured a contract from ConocoPhillips Skandinavia for the rig. The 2019-built semi, owned by CIMC Raffles Offshore, has been fixed for one well in production license 891 in the Norwegian Sea, with an option for two further wells. Odfjell said the campaign should start in the third quarter ...
Shipping braces for El Niño Shipping must brace for less cargoes transiting the Panama Canal and across many rivers worldwide, while container carriers face the prospect of losing more boxes overboard in the Pacific as the El Niño weather pattern takes hold later this year. Climate scientists warned this month there is now a 90% chance of an El Niño ...
Oh great, another event! Regular readers may well recall I am not overly fond of the extremely cluttered maritime events calendar, whereby you can literally be seen for the opening of an envelope in a hundred places a day across the globe for 365 days of the year. So the following might be hard to justify ... creative writing ...
May 2023 Review One of the most famous names in German shipping died on May 22. Bertram Rickmers, 71, fell down some stairs while celebrating his wife's 60th birthday. The risk of casualties from the growing so-called opaque fleet manifested in Southeast Asia again where an uninsured aframax tanker exploded in Malaysian waters with three crewmembers dying. With ...
Whither the tanker super-cycle? Weak economic growth in the OECD and China has tempered expectations for the balance of 2023 while high inflation and the increasing cost of servicing debt have lowered hopes for consumer spending this year. Consequently oil demand growth is slack, and this is leading to fears that OPEC could further cut oil output after its ...
Dry cargo feels flat Beijing's about-turn on real estate investment is not yet bearing fruit and, after 4.5% GDP growth in the first quarter of this year, the real economy in China is struggling to get into gear. Caixin's PMI is in contraction territory at 49.5 points in April. China's steel market is slowly reacting to cheaper iron ore, ...
Holding out for a dry bulk turnaround Shipowners are playing a long game when it comes to dry bulk. Rates were off drastically this month, and yet bulker prices remained firm, and sealed transactions were surprisingly high. Month-on-month bulker S&P activity is up by around 60% this month, according to VesselsValue, with a total of 51 vessels sold, compared to 31 in ...
Dedollarisation and what it means for shipping While the US dollar has long enjoyed a dominant position in the global financial system, the recent shift toward dedollarisation constitutes a critical transformation with enormous potential consequences for the future of international trade, investment, and monetary policy. The US dollar is the prominent reserve currency, a status cemented in the aftermath of World War ...
The case for e-fuels today Outside of the production of low-carbon fuel alternatives, heavy transportation really does not have viable options that do not require total retrofitting of vehicle engines or building entirely new vessels, says Robert Schuetzle, CEO at Sacramento, California-based electrofuels (e-fuels) maker Infinium. E-fuels, so-called drop-in fuels, can be used in the existing transportation infrastructure t
The generation game The faces that fill the shipping media are a familiar bunch. Scions of well established shipping dynasties or the men and women who have worked their way to the top of the corporate ladder. Behind these front line figures are scores of other shore-based workers who make the industry tick - the operations teams, traders, ...
Why seamless global shipping is the need of the hour Pushpank Kaushik, CEO of Jassper Shipping, writes for Splash today. As businesses expand globally and consumers demand faster product delivery, efficient and reliable shipping has become an essential requirement. The ability to transport goods seamlessly across borders is critical to meeting customer expectations and maintaining a competitive edge in the global market. Seamless global shipping ...
New York and New Jersey volumes soften as throughput losses even across coasts The port of New York and New Jersey continued to see volumes fall from last year's records but gained on...
Viasat completes acquisition of Inmarsat The merged Viasat/Inmarsat will pool their people, technology and network assets to serve the maritime, energy, government and aviation sectors...
Chevron licence boosts Venezuela-US crude oil shipments A quarter of Venezuelan crude exports are now destined for the US, with China remaining the biggest importer
Türkiye reinstates Bureau Veritas accreditation Türkiye's Ministry of Transport and Infrastructure has signed a new protocol to reinstate BV's accreditation in the country after a...
Ukraine conflict fallout will challenge shipping in year ahead, says insurer AGCS Threat of collateral damage on civilian shipping in or around war risk area remains high, and could stem from floating...
Weak demand and strong supply threaten liner balance Capacity ordered during the pandemic is entering the market as demand slows. A recovery in volumes may not come until...
Dual-fuel ships will command charter and asset price premiums For dual-fuel methanol ships, the picture is less clear even with shipping included into the EU ETS, as the price...
Cheap Russian diesel goes global, expanding shipping routes Russian diesel, once destined for Europe, now shipped to Türkiye, Brazil, northern Africa and Middle East at substantial discount, with...
NorthStandard plans big boost to commercial premiums Doubling lines such as offshore energy, strike and delay, hull and machinery, coastal and inland, and fishing and aquaculture will...
BIMCO says dry bulk market recovery is fragile While the supply/demand balance will marginally strengthen until the end of next year, the evolution of China's recovery could still...
'Whale tail' research must prompt questions about propeller inefficiency Shipping's carbon footprint is a function of inefficiency. Ship propulsion technology is almost 200 years old. Research into cetacean propulsion...
Yang Ming confirms order for five boxships Taiwanese carrier places order for five 15,500 teu LNG dual fuel containerships at South Korea's HD Hyundai Heavy Industries due for...
Sharp fall in contract container freight rates Long-term contract indices held up longer than spot rates. But new contracts are now being signed for far lower rates...
MOL sets up US-based start-up unit The company is set to open an office in California in August. It is slated to invest $100m in total...
K Line joins project to develop floating offshore wind turbines K Line joins four other Japanese companies in the project, which is trialling a small-scale version of the FAWT in...
Frontline says tanker outlook not affected by short-term volatility John Fredriksen-controlled business expects oil demand to rise significantly in the second half of the year, during which China's reopening...
Fredriksen and International Seaways trade barbs ahead of annual meeting Ahead of International Seaways' annual shareholder meeting and just over a year after its board adopted a 'poison pill' to...
Norfolk Southern eases free time, demurrage restrictions on ocean boxes The railroad is reducing demurrage fees and restoring additional free time that was eliminated in the past two years as international intermodal volumes have fallen sharply from East Coast ports.
No clear link between slow-steaming, schedule reliability: analyst Slow-steaming has come to the fore of late as ocean carriers seek help in absorbing overcapacity, but analyst Lars Jensen says the common refrain that slower speeds also help to improve schedule reliability doesn't hold water.
Weaker ocean rates, China sourcing shift drive rise in LCL shipments An emerging trend of sending smaller shipments more frequently is leading to growing demand for LCL services across the major trade lanes.
DHT Holdings strikes on modern VLCC after 'hunting high and low for opportunities' New York-listed tanker owner pays highest price for a VLCC since November but grabs a discount to current value estimates
'Dry bulk market has taken a turn for the worse' as China's economy languishes China's manufacturing sector slows down in May, according to government data
Tankers steer clear of Ceuta transfer hub after Russia crackdown Activity moves to less scrutinised areas in the Atlantic as sea conditions improve moving into summer
Chinese-backed US Spac floats second 'battery tanker' plan Rival Japanese manufacturers are working on plans for 'battery tankers' to ferry power from offshore fields without the use of undersea cables, and one of them is tapping US finance markets
ABB mimics whales to come up with highly efficient new propulsion system Technology group unveil Dynafin system inspired by dynamic motion of a whale's tail forecast to cut engine power use by 22% compared to a conventional propeller
Baltic Dry Index crashes 13% to under 1,000 points as bulk market keeps falling Benchmark dry bulk index falls to three-month low as iron and coal shipments diminish amid high inventories
Italy ups LNG regas capacity by greenlighting Livorno FSRU boost Floating storage and regasification unit will also be able to receive up to 122 small-scale LNG carriers each year
'I'm an observer': Frontline's Barstad staying out of Euronav and Seaways war of words Chief executive diplomatically declines to add fuel to the fire in two of shipping's most heated corporate debates
Green Seas: Can the geopolitical divide be overcome to bring a global carbon levy for shipping? IMO deliberations will need to bring an increasingly divided world together or risk piecemeal carbon cuts
European diesel demand set to lift MR2 tanker fortunes BRS Group says US gasoline demand yet to peak in another sign of favourable winds for the mid-range product tanker sector
Hafnia founding partner Anders Engholm retiring after 43 years in shipping Dane will leave pool company Hafnia Management with sadness but excitement for the future
More gloom for container lines as long-term freight rates 'collapse' 'Little carriers can do' as contracts follow spot market into the abyss
Green shipping pilot project numbers rise by 84% over last year Global survey of schemes aiming to decarbonise shipping shows 373 projects are underway and some are maturing, says the Global Maritime Forum
Frontline cuts costs by tapping ING for $129m sustainability-linked loan Norwegian shipowner refinancing 2023 maturity with new bank facility at "attractive terms"
Vitol wins $4m pay-out after VLCC delayed in arbitration fight UK judge rules owner Rhine Shipping liable for higher price paid to load crude at next port
NorthStandard hails underwriting profit in first annual result Newly merged P&I club gets off to a positive start as claims dip
Value gap: investor Joakim Hannisdahl says shipping company pricing 'unsustainable' Norwegian fund manager believes either stock prices have to rise, or asset prices and earnings will be revised downwards
Charter conundrum: Avance Gas prefers to be big player in spot market, says Kalleklev VLGC owner's boss likes the gains that come with having a dominant position
Ship losses hit 12-year low but fires and 'ghost fleet' are a concern, says Allianz Insurer has safety concerns over fires and the growth of tanker "shadow fleet"
Charter market fleet shrinks as MSC and CMA CGM keep buying Nearly two-thirds of vessels sold by boxship tonnage providers went to two carriers
US envoy John Kerry taking decarbonisation message to Nor-Shipping Veteran campaigner confirmed as closing speaker at Ocean Leadership conference in Oslo next week
Yang Ming confirms container ship order at HD Hyundai Heavy Industries The newbuildings form part of the liner operator's mid to long-term fleet plan
Alpha Bulkers breaks into ultramaxes with China newbuild order A Greek fan of big-tonnage ships is dipping its toe into a smaller type of bulker
Bimco: Best tanker outlook since 2008 financial crash Increasing global demand for oil to record levels in 2024 underpins tanker prospects
Seacon Shipping raises newbuilding tally with fresh order The company has ordered a total of five newbuildings since listing in the Hong Kong in March
GR8 Chartering gets started in Athens with ex Lightship and Arrow shipbrokers Venture's eight partners told TradeWinds that they wanted to offer a more 'boutique' service to their long-standing clients
Start-up targets hydrogen-fuelled ultramaxes fitted with ammonia crackers The new firm hopes to secure backing for the potential order from international mining firms active in the copper trade
Frontline sells 2010-built suezmax for $9m profit as it reveals term deals John Fredriksen company offloads its third ship this year for strong price
Golar LNG ploughs cash into carbon capture in effort to slash FLNG emissions Chairman Tor Olav Troim says gas and LNG will remain 'an essential component in the global energy transition'
Grieg Maritime ends decade-long order drought with multipurpose newbuildings The 82,000-dwt newbuildings will be the largest ships owned by the Norwegian company
Jinhui Shipping and Transportation slumps to first-quarter loss Weaker freight rates and rising interest rates take their toll on Oslo and Hong Kong-listed shipowner
'Very exciting' cycle ahead as Frontline books big second quarter rates Profit looks set to soar beyond the $200m logged in the first three months, itself the best since 2008
Neste to trial its own 'green' bunkers on its own tankers Company says powering two vessels with a marine fuel to reduce greenhouse gas emissions is another step towards reaching its sustainability targets
Banking gurus make shipping's carbon challenge 'top priority' Delegates also heard there should be sufficient funding available for green retrofit technology
Is John Fredriksen 'targeting' female directors in International Seaways spat? New York shipowner slaps back at shipping tycoon on diversity and questions 'disruptive' conduct in 'failed' Frontline-Euronav merger
How summer driving season fuels demand for tanker shipping Despite a slow Memorial Day start, summer demand is expected to hike tanker rates in the months ahead.
Tracking back-to-school orders: How do they stack up? Analyzing back-to-school volumes can give you insight into retailer expectations and impacts on container trade.
Port of Corpus Christi names interim CEO after Strawbridge exits The Port of Corpus Christi has named Kent Britton interim CEO to lead the South Texas port until a permanent chief executive is found.
FedEx agrees to tentative deal with pilots FedEx has prevented a potential strike by its pilots by agreeing to a contract that still must be approved by members of the pilots union.
US, EU object to cargo concentration in Korean Air, Asiana merger U.S. and EU antitrust authorities are worried about reduced cargo competition from a merger between South Korea's top airlines.
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