MSC boosts India to West Med service with Leghorn call
Long-term container contracted rates continue to rationalise in Jan.
BUDGET REACTIONS
Operationalization of Drive Through Container Scanner (Road) at BMCT (Scan code D-INNSA1RSDTO2); Procedure to be followed for scanning of containers selected for scanning
Federation of Indian Export Organisations (FIEO) - Representing India's export promotion in its entirety
Paradip Port again achieves new records
DP World to develop mega container terminal at Deendayal Port
MOL becomes world's first company to earn AiP for vessel cyber resilience
HDC registers highest ever cargo handling in Jan.
Haifa Port acquisition by Adani Group a milestone: Israeli PM
APSEZ completes acquisition to boost oil storage capacity
Record handling of steel coils in a single day at Chennai Port
Closure of IFFCO jetty for maintenance
APEDA eyes $1 bn in export revenue from beverages
Malaysia emerges as new market for India's egg exports
Navy ship operating hours down as maintenance woes mount A new report from the U.S. Government Accountability Office (GAO) paints a bleak picture of Navy ship availability with an increases in maintenance delays and things like use of cannibalized parts and
Could your BWTS offer a back door to cyber hackers? Like any networked system or control software onboard ship, the ballasting process, including the treatment system, can be susceptible to a cyberattack, with hackers looking for an entry point to a vessel's
Passenger vessel work keeps Washington State sister yards busy Among challenges facing passenger vessel operators are stricter emissions requirements, post-pandemic market changes - and more recently lack of ship repair yard availabilities. Sister Washington State shipyards Nichols Brothers Boat Builders (NBBB)
MABUX reports decline in global fuel prices Over the fifth week of the year, Marine Bunker Exchange (MABUX) global bunker indices showed a moderate downward correction. The 380 HSFO index fell by US$9.32 to US$480.87/MT, the VLSFO index dropped by US$8.46 reaching US$713.73/MT and the MGO index decreased by US$35.10 to US$1,041.40/MT. "We expect this is a short-run downward correction and the global bunker market still retains the potentia
Samskip commences short-sea connection between Iceland and Sweden Iceland-owned shipping company Samskip will start a new short-sea connection between Iceland and Sweden. In particular, 5 April will see the first ever call of a Samskip's vessel at APM Terminals Gothenburg, which will mark the inauguration of a major investment in short-sea between Gothenburg and Europe. Samskip will call weekly at APM Terminals' newly renovated quay, specially adapted for short
Freightify secures US$12 million funding round to boost digital transformation of freight forwarding industry Freightify announced a US$12 million debt & equity Series A funding round to help power the digital transformation of freight forwarders through its solutions. The company's freight rate management platform is solving the complex challenges facing freight forwarders and helping them to do more business faster at lower costs. Freightify aims to empower freight forwarders by providing rate automati
DP World confirms winning bid for new mega box terminal in India DP World has announced that it has won a major concession to develop, operate and maintain a new container terminal at Deendayal port in Gujarat, on the western coast of India, as previously reported by Container News . The contract was awarded by the Deendayal Port Authority on a Build-Operate-Transfer (BOT) basis. Specifically, the project involves the construction of a mega-container terminal
MSC ship refloated after running aground in Singapore Strait An ultra-large container ship operated by MSC has been refloated after running aground in the Singapore Strait off Indonesia. Vessel-tracking data from S&P Global showed that the 2019-built, 14,300 TEU MSC Faith was grounded near Batu Berhanti Beacon, an area where waters are shallow. MSC Faith, serving MSC's Asia-South America service, had departed Singapore's Pasir Panjang Terminal on 31 Januar
WiseTech Global acquires Envase Technologies WiseTech Global, the developer of logistics execution software CargoWise, announced the acquisition of Envase Technologies, a provider of transport management system software for intermodal trucking, drayage and landside logistics in North America in a transaction valued at US$230 million. Envase is being acquired from private investment firm and supply chain investor Firmament, and a small numbe
TS Lines to fit scrubbers on more ships Taiwanese intra-Asia carrier TS Lines will step up scrubber installation on its ships, as the price spread between high-sulphur fuel oil (HSFO) and low-sulphur fuel oil (LSFO) widens amid surging oil prices. Last year, the price spread ranged from US$240 to US$264 per tonne, more than doubling from the spread of US$112 per tonne in 2021 and rocketing from US$92 per tonne in 2020, when the Interna
New Konecranes equipment at Port of Spain The Port of Port of Spain (PPOS) in the Caribbean has bought two Konecranes Liftace empty container handlers, one Konecranes reach stacker, and two Konecranes forklifts. The empty container handlers arrived in the third quarter of 2022, while the reach stackers and forklift trucks are planned to come in the first quarter of 2023. "This is the first time PATT has ordered Konecranes lift trucks, bu
MSC announces new container service in Europe MSC has decided to start a new weekly feeder service connecting Ireland, France and Belgium, effective from the end of February. The service will connect Dublin and Cork in Ireland to two key transshipment hubs in Northwestern Europe, Antwerp in Belgium and Le Havre in France. The first direct call to Dublin will be on 28 February and then to Cork on 3 March with the 1,726 TEU boxship Carla-Liv.
PIL, Iris Lines launch new inta-Asia service Pacific International Lines (PIL) announced a new weekly direct service connecting major ports in Thailand, the Philippines and Singapore. The new service, named Thailand Philippines Straits (TPS) service, will commence on 15 February 2023 from Manila, Philippines. It will be served by a consortium of vessels with an average capacity of 750 TEUs, jointly deployed by PIL and Iris Lines, Inc. The r
Brazilian port acquires new container scanner Itapoá Port in Brazil has received HCVM XT, a new scanner designed for inspecting containers entering its yard. This latest purchase, an investment of about US$2 million, arrived on January 2023 and will likely start operating by March. Moreover, the scanner is manufactured by the British security company, Smiths Detection, and it is the first of its kind in the country. This new piece of equipme
Maersk, Ashdod Port ink supply chain partnership deal Ashdod Port Company in Israel has struck a deal with Maersk North America to work on supply chain logistics innovation potential. The partnership is expected to allow Israeli firms participating in the Blue Ocean for Startups technological incubator at Ashdod Port to be eligible for pilot projects in North America to test the suggested solutions in landside operations. The partnership was struck
ZIM upgrades its Asia-US East Coast ZXB Service Israeli container carrier ZIM will enhance its Asia-US East Coast ZXB Service, introducing a new and improved rotation. Starting from late February, the ZIM Xpress Baltimore (ZXB) updated weekly rotation will be: Jakarta (Indonesia) - Laem Chabang (Thailand) - Cai Mep (Vietnam) - Haiphong (Vietnam) - Yantian (China) - Kaohsiung (Taiwan) - Panama Canal - Kingston (Jamaica) - Baltimore (US) - Norfo
Vancouver closer to new box terminal approval The Vancouver Fraser Port Authority has proposed a new marine container port on Canada's west coast called Roberts Bank Terminal 2. The Roberts Bank Terminal 2 Project has already reached the end of the federal environmental evaluation procedure, which began in 2013. The port authority is hoping that the Government of Canada will make a decision soon. Since 2013, the project has been subject to a
CSSC names new chairman China State Shipbuilding Corporation (CSSC) has announced the appointment of Wen Gang as its new chairman. Wen, 56, previously served as the chairman of China Rongtong Asset Management Group Corporation. The top spot at the Chinese shipbuilding conglomerate has been vacant since August last year when the former chairman Lei Fanpei left his position.
DP World to build box terminal at India's Deendayal port Dubai-headquartered DP World has landed a concession to develop, operate and maintain the 'mega-container terminal' at Deendayal port on India's west coast. Located in Kandla, Gujarat, the project involves the construction of a 2.19m teu terminal at Tuna-Tekra through a public-private partnership estimated to cost around $550m. Once complete, the terminal on the adjacent east ...
Court opens DOF bankruptcy proceedings Hordaland district court resolved on Thursday to start bankruptcy proceedings in debt-laden Norwegian offshore vessel owner DOF, which will see the company's share capital lost and no value left to its shareholders. The move follows DOF creditors' request after its board of directors failed to secure the majority of shareholders to support the latest restructuring ...
Mitsubishi joins the Japanese rush to develop ammonia bunker vessels As ammonia continues to gain traction as one of the potential zero-carbon fuels for shipping, the development of bunkering vessels that will supply these next-generation ships is also pressing ahead. Japan's Mitsubishi Shipbuilding, part of Mitsubishi Heavy Industries (MHI), has completed a conceptual study for an ammonia bunker ship in collaboration with Japanese energy major ...
Velesto seals Roc Oil jackup deal Offshore drilling unit of Velesto Energy has secured a new contract with Roc Oil (Sarawak) for one of its jackup drilling rigs. The $14m contract will see the 2009-built premium jackup Naga 2 utilised to drill three firm wells. Velesto is Malaysia's largest owner and operator of jackup rigs with six owned units in its ...
Creditors seek DOF bankruptcy The creditors of the Oslo-listed offshore vessel owner DOF have moved to place the company into bankruptcy proceedings. DOF said in a regulatory filing that its board met persistent opposition from a group of shareholders and could not obtain sufficient support for debt restructuring after which the creditors concluded that "there is no basis for ...
Wagenborg converting PSV for Southern North Sea contract Dutch owner Wagenborg is converting a platform supply vessel into a multipurpose offshore unit that will support subsea activities and decommissioning works in the Southern North Sea. Wagenborg Offshore has sealed a long term deal with an energy major for the ship which will be retrofited within 34 weeks at the shipyard Royal Niestern Sander ...
Takeover saga dominates Euronav quarterlies Euronav published its fourth quarter results today with a conference call from Antwerp due early this afternoon. The very solid results - with a net profit of $234.7m the best returns since the middle of 2020 - have been overshadowed by the ongoing takeover saga that has put top management at the tanker firm in ...
UK swoops on Island Offshore's OSV The UK government has purchased another offshore vessel that will this time be converted into a mother ship to launch drones for detecting mines. Norway's Island Offshore sold its 2013-built support vessel for £40m ($49.5m at today's exchange rate) to Defence Equipment and Support (DE&S), the procurement arm of the UK Ministry of Defence. The ...
Liners now in the red on a mark-to-market basis On a mark-to-market basis, most liners are operating in the red, according to analysis from investment bank Jefferies. Mark-to-market is an accounting practice that involves adjusting the value of an asset to reflect its value as determined by current market conditions. "Container freight rates have fallen materially over the past six months and are hovering ...
Fredriksen's Northern Drilling raises $10m for DSME arbitration John Fredriksen's rig investment company, Northern Drilling, has raised $10m through a private share offering to cover costs for the ongoing arbitration case related to claims arising from the termination of the resale contract with Daewoo Shipbuilding & Marine Engineering (DSME) for the two ultra-deepwater drillships. In 2021, Northern Drilling canceled resale deals with DSME ...
India seen as one of the year's fastest growing box destinations India, the fastest growing major economy in the world, is seeing ever greater volumes of large boxships visiting its shores, necessitating the construction of far larger ports. The International Monetary Fund forecasts India's GDP to grow 6.8% this year, while exports are accelerating at a rapid clip. The nation managed $422bn in exports last year, ...
Australian coal heading to Chinese ports for first time since 2020 Data from shipping platform Sea/ shows a total of six bulk carriers loaded with Australian coal have discharged or are about to discharge in Chinese ports, marking a significant thawing in trading relations between the two giant Asia-Pacific nations. China slapped a coal ban on Australian miners in 2020 in a row over the origins ...
Thousands of ships set to be hit by India's age restrictions Greek data firm MarineTraffic has provided some details of the ramifications of the upcoming Indian ban on older ships. New Delhi is readying age restrictions for ships calling at the world's second most populous nation. Under the new rules no bulk carrier, tanker or general cargo ship aged 25 or older will be allowed to ...
Chery takes over Samjin Shipbuilding Chery Automobile has taken over a second shipyard as it rapidly builds up its own fleet of car carriers. Chery, a state-owned automobile manufacturer, already owns Wuhu Shipyard in Anhui province where it is headquartered. It has now added Samjin Shipbuilding, a struggling yard in Weihai in northeastern Shandong province, to its portfolio. Both yards ...
Accident report published from maiden voyage of the world's first liquefied hydrogen carrier The difficulties of shipping liquefied hydrogen have been highlighted in a new report from the Australian Transport Safety Bureau, which shows how a safety issue arose on the maiden voyage last year of the Susio Frontier, the world's first and only liquefied hydrogen (LH2) carrier. The failure of an incorrectly-fitted electrical solenoid valve led to ...
Mayflower Wind changes name to SouthCoast Wind Energy Mayflower Wind has changed its name to SouthCoast Wind Energy to better reflect, said the company in a press release, its "commitment to the people, businesses and communities of the SouthCoast, all of whom will benefit from the growing offshore wind industry." The company, a 50/50 joint venture of Shell New Energies US and Ocean ...
How tankers sold in the red-hot tanker sale and purchase market are supercharging dark fleet oil trades The demand for elderly tankers for sanctioned Russia-based, Venezuela-based and Iran-based oil trades has lifted secondhand prices by as much...
Divorce will not stop Euronav seeking new partners Euronav's jilted chief Hugo De Stoop is going through a messy divorce, but is he holding out some hope that...
China's imports of Iranian oil near record levels as US promises pressure China's imports of Iranian oil remain robust amid promises from Washington to pressure Beijing and ahead of US Secretary of...
Shipping associations call for inclusion of maritime technology in EU Green Industrial Plan The European Commission presented its plan to increase competitiveness of the net zero industry, prompting calls from the shipping industry...
Resistance to change is limiting digital transformation Most companies begin with digitalisation and technology, but it's the wrong place to start; knowing corporate objectives and understating why...
Will CII be maritime's digital game-changer? Measures to tackle shipping's carbon intensity could accelerate a new wave of digital tools and technologies, as owners look to...
OceanPal acquires fifth bulker after exercising Diana option Deal includes a $4m cash payment on signing with the remainder to be paid in preferred shares
Seafarers may break law helping stowaways disembark, West of England P&I club warns Marine mutual has handled around 300 stowaways in the past three years, head of loss prevention estimates, which could be...
Stolt-Nielsen sees profits surge on strong tanker market About 16% of customers renewing contracts walked away due to tightening terms and as rates, on average, increased 30%, company...
ForestWave adds eight MPVs to fleet after purchase of rival Symphony Shipping Sale of Netherlands shipowner includes seven modern geared multi-purpose ships of between 10,500 dwt and 12,500 dwt capacities, and one...
Greek shipowners double down on help for public health system We consider it our duty, says Union of Greek Shipowners president Melina Travlos
DSV lowers earnings expectations as market cools An unclear macroeconomic outlook and the unwinding of pandemic disruptions have led DSV to lower its outlook for 2023. But...
Anglo says new LNG dual-fuelled capesize hits performance goals Newly-launched capesize, on a 60-day round voyage from China to South Africa, has been running on LNG to test performance...
Why innovation adds risk and what to do about it Decarbonisation and digitalisation demand a reassessment of maritime safety. Technology will aid safety as well as efficiency. This is why...
Maersk partners with Ashdod's tech incubator Agreement will allow Israeli start-ups participating in Ashdod Port's tech accelerator to be considered for pilot projects in North America
HHI's autonomous navigation system gets approval The Hyundai Intelligent Navigation Assistant System will be installed on Korean Register-classed and Liberia-registered ships from mid-2023
CSSC names defence expert Wen Gang as new chair Before his new role, Wen was the chairman of China Rongtong Asset Management Group established by Beijing in 2020
Daily Briefing Methanol orderbook grows as CMA CGM signs up for boxship dozen | Will methanol bunkering match demand quickly enough? |...
C.H. Robinson reaffirms commitment to global forwarding business The largest US logistics provider claims "compelling results" from cross-selling surface transportation and air and ocean services, despite weak market conditions.
Rapid container rate decline complicates payment picture for shippers US importers that renegotiated contract rates or shifted to the spot market in the second half of 2022 have also had to adjust to different accessorial charges and transmission formats.
MSC opens more direct port connections for Indian exporters as volumes taper The expansion of origin-to-destination ocean connectivity with predictable transit time improvements is a boon for Indian exporters trying to find untapped markets for their products amid slowing demand.
DSV books record result for 2022, but warns that bull run for profits is over Denmark's DSV collected record profits for 2022, but the forwarder says a return to a more "normal" market has begun.
2M breakup throws carriers' operating playbook out the window The breakup of the 2M Alliance opens the door to a few possibilities, including the industry reverting to a competitive scramble for market share, driving down profits and forcing yet another round of M&A activity, writes Peter Tirschwell.
Freightify lands funding to target digital rate management in North America Technology provider Freightify is aiming to empower forwarders to build an online quoting presence that would lessen their reliance on rate marketplaces.
Panamax bulkers fall to 20-month low as transatlantic routes offer 'little support' Transpacific routes also see lower rates China's anticipated post-holiday rally has not come to pass, analysts say
Tale of two VLCC markets keeps average spot rates flat Fearnleys describes a sluggish market in the west dragging down climbing rates in the east
Euronav shares trend up as investors weigh better than expected earnings Quarterly profit and vessel revenues were fatter than researchers expected, but owner still fights merger 'overhang'
Port facilities require more investment than ships to build US offshore wind capacity National Renewable Energy Lab says $22.4bn of investment is needed by 2030, but just roughly $3.75bn is for vessels
Clarksons Offshore & Renewables hires veteran to lead US wind farm expansion Jonathan Lints has 15 years of experience in developing wind farm projects in North Sea
Norwegian Hull Club offers green incentives for oil and gas clients Insurer wants to incentivise decarbonisation
VLCCs look for rally as China prospects brighten New carbon regulations and increasing demand from China tipped to improve trading conditions for the largest crude carriers
Jilted De Stoop not ruling out Frontline marriage as 'divorce' hearing looms Tanker boss sparks philosophical debate on love, marriage and commitment after merger collapse
Tankers on deck: Earnings set to impress, but can stocks repeat their 2022 run? As earnings season begins in earnest for tanker owners, Streetwise takes a look at fourth-quarter performance and prospects for 2023
Carriers face 'horrific times' after record fall in long-term rates Contract renewals plummet in value as container market scenario worsens
Chemical and gas markets boost Iino Lines' profits Japanese shipping company is positive about clean tanker markets
Massive war risk payouts loom for ships stranded in Ukraine Dozens of ships set to be written off in eastern Ukraine port on the frontline of the war with Russia
Absence of product tanker 'shadow fleet' creates real uncertainty, SSY says Researcher says how and how much Russian fuel will be moved is not yet clear after EU ban
Distant delivery dates taking steam out of 'extraordinary' LNG carrier ordering levels Wartsila's Roger Holm believes vessel contracting has peaked for now
How hardball P&I renewal could herald rate relief for shipowners Could this be the last year of the hard market in mutual marine insurance?
DOF shareholders wiped out in bankruptcy as lenders take over $1bn-plus fleet Eleventh-hour restructuring attempts fail after opposition from rebel investors
Engine designer MAN sees no bottleneck for ammonia burners Large oceangoing ships burning ammonia could be in service by 2025, but engine makers will keep ahead of shipowner demand
Report reveals 'serious incident' on Shell hydrogen carrier's maiden voyage Australian investigators say component failure led to flame discharge on deck of pioneering Suiso Frontier
Allianz Global appoints new head of marine in London Philip Graham, who previously led the Chaucer Group's marine business, moves into new role
EU cash boosts Edda Wind's hydrogen-powered wind vessel project Ship-aH2oy project will receive €15m to develop hydrogen fuel cell and liquid organic carrier technology
EU disagreements push price cap talks close to deadline Two price caps for exporting Russian refined oil products are due to be introduced on Sunday
DOF shareholders wiped out in bankruptcy as lenders take over $1bn fleet Eleventh-hour restructuring attempts fail after opposition from rebel investors
Stolt-Nielsen pushes tanker contract prices up 30%, but some clients exit Chemical carrier renewals went well in the fourth quarter but some players were not prepared to meet higher prices
'Accelerated' ship sales help drive Euronav to best profit in three years Belgian tanker owner boosted by rising asset values and better rates in fourth quarter
Euronav directors reach out to Fredriksen and CMB after 'unprecedented' board threat Grace Reksten Skaugen and colleagues are seeking to maintain dialogue with warring shareholder groups
MSC Faith refloated after grounding in the Singapore Strait Vessel anchored off Indonesian island of Batam for inspection
Transnet seeks partner to run South Africa's main container rail link Liner companies investing heavily in land-based logistics have a potential new opportunity in South Africa
ForestWave buys private equity-backed multipurpose operator Symphony Shipping Shipowner says acquisition will help to improve its decarbonisation efforts ahead of 2050
Maersk talks to government and banks to keep Pakistan trade flowing Danish giant continuing dialogue in the face of warnings about country's lack of US dollars
Tanker shipping consolidation saga watched 'like it's Netflix' The tanker industry has a storied history of corporate showdowns. The latest, a three-way tussle involving Euronav, looks far from over.
UPS begins phaseout of older MD-11 cargo jets UPS is replacing MD-11s with more fuel-efficient Boeing 767 freighters as reducing costs and carbon emissions become increasingly important.
Hawaiian Airlines faces higher costs for training Amazon pilots Hawaiian Airlines faces some headwinds in 2023, including some extra temporary costs to prepare for new business flying freighters for Amazon.
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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