Ferry operators join roundtable discussion at FERRIES 2023 With just over a month left before Marine Log's 36th annual FERRIES conference, a panel of ferry operators has come together to present on topics important to the operations side of the
Carnival Corporation posts first profit since pandemic For the first time since the resumption of guest cruise operations following the COVID-19 shutdown, Carnival Corporation's U.S. GAAP net income turned positive in third quarter 2023, generating $1.07 billion. Adjusted net
BOEM proposes fewest oil and gas lease sales in history The Inflation Reduction Act (IRA) does not allow the Bureau of Ocean Energy Management (BOEM) to issue a lease for offshore wind development unless the agency has offered at least 60 million
MAN methanol gensets picked for first methanol fueled car carriers Methanol as a marine fuel is now moving into the car carrier sector. The first two methanol fueled vessels ordered for the sector -two 9,300 CEU (car equivalent unit) pure car and
Glosten unveils CT-120 tug design Glosten, Seattle, Wash., has announced its new tug design, a 120- by 39-foot tug with a molded depth of 23 feet. The CT-120 is a sizeable oceangoing tug made for long-distance and
Mitsubishi Ore Transport adopts Inmarsat Fleet Xpress fleet wide One of Japan's largest bulk carrier operators, with a fleet of 17 ships, Mitsubishi Ore Transport (MOT), which this year became part of the NYK Group, is looking to harness the vast
ILA veteran appointed Port Houston port commissioner The City Council of Pasadena, Texas has appointed ILA veteran Alan A. Robb to serve on its behalf as a Port of Houston Authority port commissioner beginning October 1, 2023. Current commissioner
APM Terminals Malaysian JV proceeds with decarbonisation process The Malaysian Port of Tanjung Pelepas (PTP), a joint venture between APM Terminals and the MMC Group, has been selected to join the Partnerships for Infrastructure (P4I) initiative. More specifically, this is a government-to-government decarbonisation scheme between Malaysia and Australia that supports PTPs ambition to become a green bunkering hub for alternative fuels. "Malaysia has the potentia
Shipnext secures substantial Belgian grant Shipnext has secured a substantial, multi-year grant from Belgian government agency Flanders Innovation & Entrepreneurship (VLAIO) to strengthen the adoption of predictive analytics and Artificial Intelligence in the supply chain. In particular, a dedicated team based at Shipnext's headquarters in Antwerp is going to embark on an ambitious project to develop a supply chain volatility forecast. Th
Barge with 12 boxes onboard sinks near Chittagong port A barge having 12 TEUs of loaded containers onboard sunk near Chittagong port in Bangladesh on Thursday (28 September) night. The port authority, in a notice issued to mariners on Friday morning, asked the vessels to navigate with caution while sailing in the area. It said the barge namely Termanator capsized with 12 loaded containers at the abreast canal of Karnafully Channel and its sunken posi
More seaborne cigarette smuggling foiled in Hong Kong Hong Kong Customs foiled seaborne cigarette smuggling attempts in two separate cases, in which containers arriving from Cambodia and South Korea were found to have 15m contraband cigarettes with a value of HK$54 million (US$6.9 million), with HK$36 million (US$4.6 million) of evaded duties. In the first case, through risk assessment and intelligence analysis, customs officers on 21 September sele
Thames Freeport enjoys multi-million dollar investment Thames Freeport is celebrating GB£600 million (around US$730 million) in private sector investment in the project's first two years, which has resulted in the creation of over 1,000 jobs across the region. Last week, during a visit to meet with the Thames Freeport partners, UK investment minister Lord Johnson highlighted the numerous potential for firms to establish at the site following its offi
Hapag-Lloyd increases rates from Middle East and Indian Subcontinent to US East Coast and Gulf Coast Hapag-Lloyd announced a General Rate Increase (GRI) / General Rate Adjustment (GRA) from the Middle East and Indian Subcontinent to the United States East Coast and Gulf Coast for cargo transported in 20' and 40' dry, reefer and special containers, including high cube equipment. This rate increase of US$200 per container will be applicable to all types of boxes from 1 November and will be valid u
World's first methanol-fuelled boxship arrives at Port of London Laura Maersk, the world's first methanol-fuelled container vessel, arrived at the port of London for its first call on 27 September, marking a significant milestone in the maritime industry's journey toward decarbonisation. This 2,100 TEUs feeder vessel will assist Maersk in meeting its long-term goal of gradually updating its whole fleet to operate purely on green fuels. "We're delighted that ou
Box lines revise services in Europe Aiming to optimise and improve their network, several container lines have announced changes in their European services. First of all, CMA CGM has decided to revise its GTL service again. According to DynaLiners report, the French ocean carrier will remove Benghazi, Malta (one of the visits), Piraeus and Port Said from the service's port rotation, while it will include Damietta and Misurata in th
COSCO SHIPPING introduces new marine methanol fuel bunkering group standards China Marine Bunker (PetroChina) Co. (CHIMBUSCO), a shipping service company under COSCO SHIPPING, held the "Green Methanol Refuelling Capacity Building Conference" during the Global Sustainable Transportation Forum and the 15th International Exhibition on Transportation Technology & Equipment. During the conference, China Petroleum Circulation Association (CPCA) and the China Entry-Exit Inspecti
Chinese ports exceed 200 million TEUs in 2023 so far, Shanghai and Ningbo remain on top Container volume at China ports rose by 4.8% in the January-August period, compared to the same months last year. The container throughput of Chinese ports was 203.7 million TEUs, while for the same period, the cargo volume of major Chinese ports was 11.1 billion tons, translating to an 8.4% rise year-on-year. The following table mentions cargo and container throughput data from China's twelve ma
Bunker prices return to downward trend after a month The Marine Bunker Exchange (MABUX) indices turned into a decline for the first time in the last four weeks. The 380 HSFO index fell by US$3.07, the VLSFO index lost US$6.22 and the MGO index decreased by US$11.86. "At the time of writing, bunker indices have resumed an upward trend," noted a MABUX official. Global Scrubber Spread (SS) - the price difference between 380 HSFO and VLSFO - has also s
ITF recovers almost US$120 million in unpaid wages for seafarers since 2020 The International Transport Workers' Federation (ITF) inspectors recovered US$118,529,663 in wages owed to seafarers between 2020 and 2022, according to data released on World Maritime Day. "While we are proud that our inspectors have been successful in recovering almost US$120 million for seafarers in the last three years, it's unfortunate that we need to address wage underpayments at all. We wo
WinGD secures first approval in AiP for ammonia-fuelled two-stroke engines Swiss marine power company WinGD has secured the first ever approval in principle (AiP) for two-stroke engines fuelled with ammonia. More specifically, Lloyd's Register awarded the AiP to WinGD's X-DF-A dual-fuel range, giving shipowners the assurances they need to realise vessel designs using ammonia-fuelled main engines for the first time. According to WinGD, the development of the company's am
Odfjell to test solid oxide fuel cell system on chemical tanker Alma Clean Power, Odfjell, and DNV have announced a project that would entail the installation of a solid oxide fuel cell (SOFC) system on a chemical tanker by the end of 2024. Solid oxide fuel cells are fuel-flexible and can convert fuels like ammonia, LNG, methanol, and hydrogen to electricity with a potentially higher energy ...
Petrobras and Vale link up for joint investment in renewables Two of the most important names in Brazilian maritime, the state-controlled oil firm Petrobras and mining giant Vale have joined forces to develop low carbon solutions. A two-year partnership will study potential joint ventures in the development of sustainable fuels such as hydrogen, green methanol, biobunkers, green ammonia and renewable diesel and C02 capture and ...
Economou moves on another Palios company with OceanPal stake Greek shipowner George Economou has revealed a significant stake in another fellow shipowner. The latest move is on the NASDAQ-listed bulker owner OceanPal, according to a regulatory filing with the US Securities and Exchange Commission. Economou's investment vehicle, Sphinx, a subsidiary of Maryport Navigation, has picked up over 324,000 shares for around $563,000, corresponding to ...
Delta Corp presses ahead with NASDAQ listing Mudit Paliwal-led Delta Corp Holdings is finally pressing ahead with a NASDAQ listing via a merger with an existing listed company, Coffee Holding, a wholesale coffee roaster and dealer. Originally planned for Q1 this year, Delta Corp has now put its merger plan into action with the closing of the transactions still subject to certain ...
World Shipping Council outlines digital solution in battle to contain fires from misdeclared cargoes Despite industry and government efforts, dangerous cargo that has not been declared, or that has been incorrectly declared or labelled, continues to cause fires and explosions, hurting and killing vessel crew and transportation staff. In response to this continued safety challenge the World Shipping Council (WSC), representing liner carriers, is taking additional action, developing a ...
$35m paid for a 21-year-old VLCC Adam Polemis-led New Shipping has struck a profitable VLCC deal, selling the 21-year-old 319,000 dwt Good News for $35m, a ship New Shipping bought from Euronav six years ago for $21m. The ship has already been delivered to its new owners, Hong Kong-based Unitop Group, and it has been renamed Eternal Fortune. This is the second ...
TechnipFMC lands new contract with Petrobras Subsea giant TechnipFMC has been awarded a contract by Petrobras to supply flexible pipes for the pre-salt fields offshore Brazil. The New York-listed company will design, engineer, and manufacture 14 km of gas injection riser pipes and also supply associated services including packing and storage. "We have an established team in place who have earned ...
Details emerge of first dedicated LNG bunkering facility on US Gulf Coast Seapath, a subsidiary of Libra Group, and Houston-based Pilot LNG have formed a joint venture to develop, construct, and operate the first dedicated liquefied natural gas (LNG) bunkering facility in the Galveston Bay area. With operations slated to begin in mid-2026, the construction is expected to cost $150m. A final investment decision on the project ...
Meadway bags Oshima ultramax Greece's Meadway Shipping has bought the three-year-old, Oshima-built Nord Amazon, an ultramax which it is now renaming Utopia. No price has been revealed for the ship. Meadway is a fan of Oshima tonnage. Earlier this month the company contracted the Japanese yard again to build a 42,300 bulk carrier, a second ship on order at Oshima. ...
Ship Concept 2030: The case for LNG Zane Berry from MCA Consulting gives his take on what the merchant fleet will look like at the start of the next decade. The main driver for change in vessel design and operation will remain the need for fuel optimisation through to 2030 and beyond. There is little availability for cargo capacity improvement and so ...
Scarce HSFO supply slashes Rotterdam scrubber spreads Narrowing price spreads between the two primary bunker fuel grades in Europe could disincentivise scrubber installations, although differentials remain much...
Seapath and Pilot team up for first US Gulf dedicated LNG bunkering station Libra Group subsidiary and LNG terminals specialist aim to start serving vessels in Galveston Bay area by mid-2026
IMO 2030 targets achievable if everyone is on board Industry reps at Marine Money Asia are optimistic shipping can meet the IMO's goals by 2030 if the industry can...
Police launch criminal investigation into Axiom Ince Firms in other countries using Ince & Co branding unaffected by developments in UK
Interest in ordering alternative fuel bulk carriers still limited There are 70 dual-fuel LNG bulk carriers either in service on order, while nine bulkers capable of utilising methanol have...
Oil cap breach fails to stop compliant shipments from Russia Tankers are providing evidence of compliance even as global prices for crude grades and nearly all refined products from Russia...
Fredriksen mulls Euronav share buyout in return for fleet Tanker tycoon John Fredriksen is understood to be considering an offer from the Saverys family's CMB to buy out his...
Seacon adds two newbuilds to fleet A kamsarmax dry bulker and a multipurpose vessel has joined the Chinese shipmanager's self-controlled fleet
X-Press chief expects 30% higher rate for methanol-power feeder service Newbuilds burning bio-methanol will reduce shipping emissions by more than 50%, but the cost is three times higher than the...
Cargo safety initiative seeks to improve screening and inspections Container lines have many tools available to root out bad rogue shippers misdeclaring dangerous goods. But until now there has...
Low lay up levels point to long-term container pain Overcapacity and weak demand are leading to poor utilisation and falling rates. Normally that would see ships laid up, but...
Rise of the share buyback While shipping companies traditionally reinvested profits in expanding and modernising their fleets, listed owners have increasingly been allocating their capital...
Chinese ship lessors look beyond mainstay as geopolitics and market slowdown bite The emergence of Chinese lessors coincided with the retreat of Western shipping banks after the 2008 financial crisis. Today, charting...
Inmarsat blasts 'unacceptable' tolerance of preventable errors A new report reveals an increase in the number of distress calls, especially from tankers and containerships. The same types...
Piraeus port posts record half-year profit Containers, cruise and car terminal all contributed to positive result
Daily Briefing Shipping sees second prexit wave amid windfall pandemic shipping profits | QatarEnergy orders 17 LNG carriers from Hyundai Heavy Industries...
Inland23: US-Mexico trucking costs rising with cross-border demand Cross-border trade with Mexico is one of the few hot spots in trucking, but fuel prices and other costs are putting more pressure on rates.
Inland23: Railroads vow service will remain strong when volume rebounds North American Class I railroads understand why shippers and logistics providers are skeptical about intermodal service, but they believe disruptions experienced in recent years won't happen again.
California drayage operators seek help meeting zero-emission regulations Drayage companies in the state say existing incentive programs will not be enough to enable them to meet regulations that mandate a zero-emission drayage fleet by 2035.
Inland23: Mexico-to-Southeast intermodal service due to launch in late '24 CPKC and CSX hope the new joint service will boost volumes along the route, which is not a popular one for intermodal business.
Capesize bulker market rises and falls as 'mixed dynamics' take hold Average spot rates rse 24% by mid-week but then slide 4% to Friday
Forget Phoenix, no more Nordic: It's all Pangaea Logistics from here Rhode Island-based niche trade specialist reveals a rebrand of its business lines
Carnival posts first profit since pandemic shut down global cruise business New York-listed cruise major achieved more than $1bn in profit for third quarter of fiscal 2023
Russian GPS 'jamming' causing collision risk in Black Sea, Romania says Army chief Daniel Petrescu claims constant interference from Putin regime is endangering seafarers and vessels
Shoreline takes on P&I executive Simon Swallow Former Shipowners' Club head has found a new role in marine insurance
It's a compromise, stupid! Former Cyprus shipping minister Vassilios Demetriades spills beans on EU horse-trading Preaching from a high horse will get you nowhere in maritime policymaking, argues Vassilios Demetriades
Editor's selection: Euronav carve-up? Dubai's dubious accolade and police probe Ince deal A look back at the stories that made news in shipping this week
European investors back both Euronav and Frontline following rumoured tanker deal Both companies' shares rise after reports Frontline would acquire Euronav ships
Charterers more comfortable as VLGC rates go from 'astronomic' to merely 'exceptional' Spot market turns bearish as tonnage list builds, brokers say
Trade imbalance leads to growing numbers of empty containers stuck in Russia But booming China-Russia trade remains profitable, despite falling rates
Emissions milestone: Odfjell to trial solid oxide fuel cell on chemical tanker Technology can convert gas, ammonia, methanol and hydrogen to electricity
Aramco makes international LNG move with $500m investment in MidOcean Energy Saudi energy giant takes stake in company acquiring interests in four Australian gas projects
Comment: Should shipping ditch methanol for a truly carbon-free future? Maersk no longer sees the fuel as a panacea for green shipping - and neither should we
Met Police called in to probe Ince & Co acquisition Regulator alleges client funds were used to acquire the shipping law firm
Tanker owner Top Ships goes for share reduction to maintain Nasdaq compliance Greek company's stock price has dropped from nearly $10 to $0.59 in a year
ITF inspectors recover $119m in seafarer wages over last three years More than $36m was paid back to crew members in 2022 alone, union group says
Jakarta court sides with Norway's Parbulk over jurisdiction in long-running Humpuss dispute Panel of judges denies Indonesian shipowner's attempt to have case thrown out
Fredriksen and Saverys close to deal to carve up Euronav fleet to end bitter takeover fight Frontline said to be taking in mostly VLCCs as two sides near signing long-rumoured fleet split
CMB.Tech venture building Africa's first green hydrogen refuelling plant Partnership with Ohlthaver & List will turn solar energy into fuel for port equipment, trucks and rail
Ships refuelling further out from congested Panama Canal, Monjasa says Bunker supplier working with owners to try to cut waiting times at key waterway
China unveils country's first methanol bunkering standards Move follows recent announcement by Cosco Shipping launching nation's first methanol bunker supply chain
NGOs turn spotlight on owners selling ships for recycling at substandard yards in Bangladesh Report claims European shipowners continue to flout EU rules, selling ships for scrap via cash buyer intermediaries
Shipowners receive mixed scorecard in survey of decarbonisation efforts Companies are either frontrunners, followers or conservatives in their efforts to make shipping greener
George Economou strikes again with 9.1% stake in Diana Shipping spin-off OceanPal Greek shipowner reveals holding in second Palios family company
In soft market, Amazon and DHL maintain cargo flying with ATSG Air Transport Services Group has not been forced by primary customers Amazon and DHL to significantly trim flight activity, as originally expected.
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