Julie Gascon named new Port of Montreal president and CEO The Montreal Port Authority (MPA) has named Julie Gascon as its next president and CEO. A master mariner, she is currently president and CEO of the Vancouver, B.C., based Pacific Pilotage Authority
Azane and Amogy in ammonia bunkering vessel MOU Azane Fuel Solutions, the Norwegian company aiming to develop the world's first ammonia bunkering terminal, and Amogy Inc., the ammonia-to-power tech developer launched by four MIT Ph.D alumni, have signed an MoU
Lawsuit alleges MSC civilian mariner was raped by captain A complaint filed yesterday in the U.S. District Court for the District of New Jersey alleges that an MSC civilian mariner was raped by the captain when working as the 1st assistant
Jacksonville attorney Tom Slater appointed to JAXPORT's Board of Directors Jacksonville Mayor Donna Deegan has appointed attorney Tom Slater to JAXPORT's Board of Directors. The Jacksonville City Council unanimously approved Slater's appointment on November 28. Tom Slater is an attorney with the law firm of Pajcic & Pajcic, with practice areas that include maritime, trucking and aviation law. He is a board-certified trial attorney licensed in Florida, Georgia, and Virgi
SeaLead commences new service between Mediterranean and Brazil SeaLead has announced the launch of its new Mediterranean - Brazil shipping route, the MEDSA Service. "This new direct liner shipping service will enhance trade connectivity and expedite cargo transportation between ports in the Mediterranean and Brazil," said the company in a statement. The MEDSA Service includes important ports such as Itapoa, Paranagua and Santos in Brazil, and Casablanca in M
Port Authority of NY & NJ breaks ground on US$220 million street corridor project The Port Authority of New York and New Jersey announced the beginning of major construction work on the US$220 million Port Street Corridor Improvement project to redesign and rebuild Port Newark's northern entrance at Port and Corbin streets. The interchange serves as an important link to the New Jersey Turnpike and Interstate 78 and provides access to one of the port's marine facilities that ma
Montreal Port Authority announces new president and CEO The Montreal Port Authority (MPA) appointed Julie Gascon as the new president and CEO of the organisation. She will take up her new position on 12 February 2024. Julie Gascon has held a number of strategic positions with Transport Canada and the Canadian Coast Guard, while she is currently president and CEO of the Pacific Pilotage Authority. "On behalf of the Board of Directors, I would like to w
PIL hopes to entice LNG-capable seafarers Singapore-based liner operator Pacific International Lines (PIL) will need to headhunt seafarers who are experienced with manning LNG dual-fuelled ships or LNG carriers. PIL has eight LNG dual-fuelled newbuildings on order, comprising 14,000 TEU vessels and 8,000 TEU ships that are being constructed at Jiangnan Shipyard and Yangzijiang Shipbuilding in China. The newbuildings will be delivered fro
ABB to deliver automation and digital solutions for Rio Grande LNG project ABB has been awarded an order by Bechtel Energy Inc. to deliver integrated automation, electrical and digital solutions for Phase 1 of the Rio Grande LNG facility (RGLNG Phase 1) in Brownsville, Texas, US, a project developed by NextDecade Corporation. Bechtel Energy Inc. is undertaking construction of RGLNG Phase 1 under an engineering, procurement, and construction contract. RGLNG Phase 1 inclu
CN analysis: Container carriers see no respite from rate declines on Indian trades Container freight rates across trades out of India have continued to slide in November, while ocean carriers await some pricing gains from improving export trends, according to the latest market analysis by Container News . On the westbound India-Europe trade, average short-term contract rates from West India [Jawaharlal Nehru Port (JNPT)/Nhava Sheva or Mundra Port] to Felixstowe/London Gateway (
SeaLead announces new service connecting major Red Sea ports SeaLead has announced a new direct shipping service along the Red Sea, connecting major ports in Saudi Arabia, Yemen, and Djibouti. This new service aims to establish uninterrupted trade links and accelerate cargo transit, thereby enhancing supply chain efficiency in the region, according to the company, The service route will cover Jeddah (SAJED), Djibouti (DJJIB), Hodeidah (YEHOD), and return t
ONE launches new Egypt Lebanon Turkey service Ocean Network Express (ONE) has announced the launch of the new Egypt Lebanon Turkey (ELT) service, which will have a weekly frequency. "This new service will offer customers enhanced coverage in the European region and offers a direct connection between Damietta to Beirut, Lebanon and Iskenderun, Turkey," said the company in a statement. The first sailing of the new ELT service will start from D
Hunter Group returns to the tanker sector with VLCC charter deal Norway's Hunter Group has announced its return to the tanker business following the sale of its entire VLCC fleet last year. The Oslo-listed investment firm, which has been placing its next bets on the carbon shipping segment, has struck a deal "with an internationally renowned counterparty" to charter in a 2016-built eco-design and scrubber-fitted VLCC. ...
Eneti agrees $436m loan to finance WTIV newbuild duo Emanuele Lauro-led offshore wind vessels player Eneti has executed a senior secured green term loan facility of up to $436m with a group of international banks and export credit agencies. The credit facility finances around 65% of the purchase cost of the company's two newbuild NG-16000X series wind turbine installation vessels (WTIV) named Nessie and ...
Gunvor Ulstein returns to CEO role at Ulstein Group Gunvor Ulstein has returned to her previous post as chief executive of Ulstein Group after Cathrine Marti stepped down from the role she held for three years. Marti (pictured left) has decided to take on a new opportunity outside the group, the company said. Marti joined Ulstein some nine years ago as chief financial officer, ...
2020 Bulkers converts another index-linked contract to fixed rates Tor Olav Trøim-backed 2020 Bulkers has switched another one of its newcastlemaxes from index-linked to a fixed-rate charter. The Oslo-listed owner of eight scrubber-fitted newcastlemax bulk carriers has fixed the 2019-built Bulk Santiago to Koch Shipping at $25,024 per day, plus scrubber benefit. Earlier this week, the company converted to fixed rates on the 2019-built ...
Latsis and Costamare-backed Neptune Leasing backs Lomar dry bulk play UK-based diversified shipowner of the Libra Group, Lomar Shipping, has raised capital with Neptune Maritime Leasing for its growing fleet of bulk carriers. The cooperation with Jersey-based Neptune Leasing involves five ships, although financial details have not been disclosed. The Nicholas Georgiou-led Lomar has been expanding its footprint in the dry bulk and chemical tanker ...
Ulstein reveals heavy transport vessel design for offshore wind sector Norwegian shipbuilder and designer Ulstein has expanded its design portfolio with a new heavy transport vessel to meet the increasing logistic requirements of the ever-growing offshore wind sector. The current fleet of heavy transport vessels doesn't meet the future demand of the offshore wind segment, Ulstein said. With over 380 GW of offshore wind capacity ...
Cape rates crack $40,000 a day, doubling in the space of one week Capesize rates have been on charge since last Friday, notching up daily raises not seen in years. Average cape spot rates leaped by another $7,410 yesterday according to the Baltic Exchange, and have now more than doubled in the space of one week to $41,796. "Consistently strong volumes over the past three weeks in the ...
PV Drilling awarded long-term jackup contract in Indonesia Petrovietnam Drilling and Well Service Corporation (PV Drilling) and its local partner PT Jimmulya have secured a long-term contract for a jackup drilling rig in Indonesia. The contract, secured from Pertamina, will see the 2009-built PV Drilling III committed for a firm period of three years to serve a drilling campaign offshore North West Java ...
Geneva Dry Dialogues: DNV In the coming months ahead of the inaugural Geneva Dry event organised by Splash, we will be sitting down with key names attending the dry bulk mega summit. In the hot seat today: Morten Løvstad, DNV's point man for all things dry bulk. Morten Løvstad, the business director for bulk carriers at class society DNV, ...
Ørsted secures license for South Korean offshore wind project Danish renewable energy developer Ørsted has been granted a 1.6GW electricity business license by the South Korean Ministry of Trade, Industry, and Energy for an offshore wind project located 70 km off the coast of Incheon City. The license grants Ørsted exclusive development rights for its gigawatt-scale Incheon offshore wind project, which is set to ...
BW LPG invests $40m in India's LPG infrastructure VLGC owner BW LPG has created a joint venture with Confidence Petroleum India and made an investment to develop and operate an LPG onshore import terminal in India. BW LPG and Confidence agreed to establish a 50/50 JV named BW Confidence Enterprise Private Limited in India, to explore investment opportunities in onshore LPG import infrastructures. ...
Hong Kong company takes over running of Dubai tanker fleet At the beginning of October, shipping and steel magnate Theodore Angelopoulos sold two five-year-old aframaxes for an eye-catching $70m each, the 116,000 dwt Daehan Shipbuilding-built tankers, Crudemed for and Crudesun. The ships, now on charter to Unipec, have been renamed Venture and Valour, having resurfaced with Prominent Shipmanagement, an outfit set up in 2022 in Hong Kong, ...
Six in 10 investors considering divestment from maritime sector amid ESG concerns Sustainability and communications consultancy Woodrow has published a report showing that 64% of senior finance professionals in the UK are contemplating reducing their investment in the maritime sector due to ESG risks. The report sheds light on key areas of ESG risk perceived by lenders and investors, including labour rights, climate change, and regulatory compliance. ...
Hoanh Son adds sixth panamax Privately owned Vietnamese infrastructure conglomerate Hoanh Son, a joint stock company, has added six similar-sized Bulkers since it entered ship owing in 2020. Sources say it tabled around $10m for its latest ship, the 2005-built, 76,000 dwt Omicron Light which has been sold by Athens-based Omicron Ship Management. The panamax vessel has been renamed Hoanh ...
All that liner shipping should be worried about going into 2024 In an exclusive extract from the November issue of Splash Extra, readers today can get an insight into the unique sectoral analysis carried in our sister title. As the US economy continues to defy the doomsayers, teu throughput at US ports finally broke above the 2022 level for October, rising 4.7% month-on-month and 11.4% year-on-year ...
ETS cargo diversion risk not being addressed The arrival of the ETS tax could see sharp players in the shipping world divert their cargo to non-EU ports...
Onboard carbon capture just a temporary measure, MAN says MAN Energy Solutions expects e-ammonia to be the most cost effective solution for shipping to cut emissions, with the company...
BIMCO cautions on slower bulk volumes, with Chinese demand forecast looking gloomy China's failure to overcome its economic headwinds will cost one percentage point of demand growth for dry bulk shipping, according to BIMCO's...
Capesize spot rates surge to two-year high as Atlantic trade booms A tighter-than-expected supply and demand balance points to higher average rate levels for the coming year, Jefferies says
London cargo market in best shape for more than decade, says Gallagher Some markets looking for war coverage as result of fighting in Gaza
Stena Bulk foresees buoyant crude and product tanker markets, but stays cool on new ship orders Stena Bulk has no plans to order new tonnage until at least 2026, but it will consider buying modern secondhand...
Climate risk is changing shipping bankers' behaviour but spooking investors While shipping lenders have taken early steps through their Poseidon Principles, aligning portfolios to decreasing CO2 trajectories in line with...
Carriers consider rerouting as Panama Canal restrictions bite The Panama Canal is set to become a major logistics chokepoint. But the alternatives have their own problems too
Seafarer decarbonisation training framework launched The fuels needed to meet to net zero will mean seafarers having new skills. A taskforce to ensure that happens...
Frontline takes hit as Russian crude tops price cap but says it is time for VLCCs to shine Frontline says future tanker capacity is not reflecting projected trade but the addition of 24 Euronav crude carriers will double...
Top 10 shipbrokers 2023 Shipbroking majors have been faced with considerable challenges brought about by the Ukraine war, having to avoid transactions that could...
Daily Briefing Carriers have opportunities to ease supply imbalance | Ghost of bankrupt US retailer comes to haunt MSC in gargantuan FMC...
US warehouse fluidity returning to normal amid import drop, inventory discipline US importers have finally cleared out most of the inventory overhang that kept their warehouses at capacity and created bottlenecks in their supply chains.
Order book more 'manageable' if measured in ship numbers, not TEUs: analyst Although the incoming capacity will outstrip demand on the major trades over the next two years, the capacity overhang that has been touted in many corners of the shipping sector is being overstated, says an industry analyst.
Shippers eye varied 'training wheel' approach to origin management technology Getting the most out of global logistics software sometimes involves using a forwarder as a co-pilot until a shipper is ready to run processes similarly to procurement and order management internally.
Orderbook more 'manageable' if measured in ship numbers, not TEUs: analyst Although the incoming capacity will outstrip demand on the major trades over the next two years, the capacity overhang that has been touted in many corners of the shipping sector is being overstated, says an industry analyst.
Green Power: Drawing a blueprint for greener shipping Shipping's green transition is moving forward, but there is much more work to be done
Oldies but goodies? Senior tonnage coming and the green movement is partly to blame Tanker executives kick around the dynamics of insufficient vessel supply in the US-flag trade
Study finds most banks are 'loyal enablers' in making shipping greener. Here's the downside Paper by UCL Energy Institute warns that continued commitment to fossil fuels could delay shipping decarbonisation
Vale works with Oldendorff for its first iron ore voyage with biofuel blend Brazilian mining giant fuels bulker with mix of cooking oil and conventional bunkers
The good news: Seanergy has a new investor. The bad news? His name is George This week's Streetwise takes a look at why George Economou has filed as a 5% holder in the Greek capesize specialist
Navy ship shoots down Iranian-made drone while escorting US-flag merchant ship Intentions of aircraft are unclear amid tensions in Red Sea and beyond
Breakthrough as Pakistan ratifies the Hong Kong recycling convention The international convention is set to enter into force in June 2025
Alarm bells ring for European ports as emissions trading deadline nears European ports fear shipping lines will divert to non-EU ports to avoid carbon emission costs
Supramaxes in the Atlantic earning highest premium since 2017 - but get ready for the January blues A number of different factors have come together to make the Atlantic market go 'absolutely mental'
MSC hit with multimillion-dollar claim from bankrupt US retailer DK-Butterfly-1 - formerly known as Bed Bath & Beyond - wants around $90m in damages
TMI's Grindrod Shipping pays off more debt as bulker rates climb Boss Ed Buttery maintains a favourable view of the geared vessel sector
Pakistan ratifies the Hong Kong recycling convention The international convention is set to enter into force in June 2025
Karpowership set to greenlight its first powership-FSRU for South Africa Turkish company also eyeing a move into FLNG
Future fuels: Hydrogen cells' potential 'increases exponentially' Proponents of the technology say it is the only zero-emissions option as the industry keeps eyes on internal combustion engines
MSC hit with multi-million dollar claim from bankrupt US retailer DK-Butterfly - formerly known as Bed Bath & Beyond - wants around $90m in damages
Global clean fuel network set to cost $2.1trn World Economic Forum warns of weak business case for investing in shipping decarbonisation with high costs and uncertainty
Snoring drunk watch officer slept as Briese ship grounded off Scotland UK accident investigators critical of drinking culture on BBC Marmara
Costamare leasing arm emerges behind Lomar bulker buying spree Neptune Maritime Leasing has helped fund the acquisition of four supramaxes and a kamsarmax
Is Andreas Sohmen-Pao about to delist another BW group company in Oslo? Parent company launches mandatory offer for oil subsidiary BW Energy after hitting 40% threshold
'Ill-advised': Armed guards urged not to defend ships from Houthi seizures Africa Risk Compliance warns that resistance could be severely counter-productive
Greece and Italy reveal timelines for incoming clutch of FSRUs Bulgaria is also looking to invest in a regasification unit
Greece's Minerva Marine mulls order for aframax product tankers Greek owner signs letter of intent for dual-fuel LR2s
Azane Fuel Solutions plots ammonia bunkering vessel move with new design Norwegian start-up complements bunkering terminal plan with move into shipowning
US ramps up Iran oil sanctions as it cracks down on proxy group funding Move targets the sale of oil to foreign buyers using middlemen in the UAE and Hong Kong
Future fuels: New era of marine fuels: For a smooth transition, we need to talk about lubricants Engines powered by some alternative fuels are more straightforward to lubricate than others
Future fuels: Reaping the benefits of green fuels without bunkering them on ships? Book and claim and mass balance systems could help gain the benefits of future fuels and still use existing infrastructure
Major investors mull maritime exit over environmental risks Nearly two-thirds of senior finance players in the UK were considering cutting maritime investments over ESG concerns, report finds
Banks knocking on our door to finance new LPG carriers, says Avance Gas boss Kalleklev But Fredriksen company's CEO is in no rush to finalise funding just yet
Frontline earnings slashed as mainstream tanker fleet swells CEO Lars Barstad says streak of four strong quarters came has ended
Oil Brokerage swoops again, poaching three Fearnleys brokers in Geneva Just weeks after planting its flag firmly in the US, the James McNicol-led outfit keeps growing
John Fredriksen and banks come up with $2bn to finance Frontline swoop for 24 Euronav VLCCs First new tankers will load oil in January, Oslo-listed company says
GMS container ship scrap sale hits snags with arrest in Singapore Cash buyer says it is working with the previous owner SITC to get the arrest order lifted
Angelicoussis unveils size of planned ultra large ammonia carriers Joint development project with US major Chevron could result in a new breed of vessel
Modern LNG carriers merit charter rates of over $100,000 a day, Greek owner says Maria Angelicoussis and Evangelos Marinakis talk shipowning at annual LNG meet
Capital Maritime eyeing up a move into VLCC dual-fuelled newbuildings Greek owner has more tonnage on its menu
BW LPG expands India footprint with $40m infrastructure investment Singapore shipowner boosts downstream investments in the world's second largest LPG consumer
Jinhui Shipping continues clearout of older supramaxes Oslo-listed shipowner continues to improve fleet as weak markets take toll on its bottom line in third quarter
Pipes of trade tell the tale of manufacturing growth With China knocked off its pedestal of reliable, cheap products, other countries have jumped in and seized on the weakness.
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