ILWU files for Chapter 11 bankruptcy The ILWU dockworkers union said Friday that it has commenced a Chapter 11 case under Subchapter V of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Northern District of
Jan De Nul orders giant cable layer Upping the ante in the cable layer market, Belgium's Jan de Nul Group has placed an order at the CMHI shipyard in China for an extra-large cable-laying ship. Set for delivery in
HFW signs collaboration deal with Emirates Shipping Association International law firm Holman Fenwick Willan (HFW) has agreed to collaborate with Emirates Shipping Association, the voice of the United Arab Emirates private maritime industry and one of the world's top maritime organisations. HFW supported the establishment and registration of the Association at a federal level and has provided it with ongoing legal and strategic support. According to the new a
Vale, Port of Açu ink agreement to develop Mega Hub for steelmaking decarbonisation Vale signed a Memorandum of Understanding (MoU) with the Port of Açu in order to study the development of a Mega Hub at the port located in São João da Barra in the state of Rio de Janeiro, Brazil to produce hot briquetted iron (HBI) using the direct reduction route. The Mega Hub will initially receive pellets from Vale and could, in the future, include an iron ore briquette plant at the site to
Tsuneishi Shipbuilding receives order for four 5,900 TEU methanol-fuelled ships Tsuneishi Shipbuilding based in Hiroshima, Japan received an order for four 5,900 TEU container ships powered by methanol. This is the third methanol-fuelled vessel order, following the Kamsarmax Aeroline and TESS66 Aeroline, and the first order for methanol-fuelled container vessels. The boxships will be equipped with a dual-fuel methanol and heavy oil main engine developed by MITSUI E&S and wil
Mitsubishi Shipbuilding delivers LNG fuel gas supply system for car carriers Mitsubishi Shipbuilding Co. a Mitsubishi Heavy Industries (MHI) Group company based in Yokohama, Japan, delivered Fuel Gas Supply System (FGSS), a liquefied natural gas (LNG) fuel gas supply system for high-pressure dual-fuel marine engine, to Shin Kurushima Dockyard Co. at the end of August 2023. More specifically, FGSS is a liquefied natural gas (LNG) fuel gas supply system for high-pressure du
OOCL vessel catches fire in Japan Fire broke out in the engine room of one of Orient Overseas Container Lines' (OOCL's) ships while it was underway in Japan on 1 October. The 1999-built, 5,770 TEU OOCL Shanghai, deployed to OOCL's Asia Australia Consortium Northern Express (A3N) service, caught fire around 5 a.m. local time, while it was sailing from Yokohama to Osaka. At the time of the incident, the ship was 18 nautical miles o
ICTSI's Australian terminal beefs up handling equipment to handle larger boxships Victoria International Container Terminal (VICT) will soon be able to handle the largest container vessels that will arrive in Australia after the recent delivery of two new ship-to-shore (STS) cranes. VICT's new automated cranes are the largest in Australia, with a lift height of 49 meters or 10 meters higher than the terminal's five existing STS cranes. Additionally, the 60-meter boom outreach
ILWU files for Chapter 11 bankruptcy protection US West Coast labour representative, International Longshore Warehouse Union (ILWU) has filed for bankruptcy protection following its dispute with ICTSI Oregon Inc., which has been running for more than a decade. In a statement issued on 30 September the union said it intended to protect its future by using the bankruptcy process to "resolve the pending litigation with ICTSI Oregon Inc. that has
Port of Felixstowe greets first methanol-powered vessel Hutchison Ports-operated Port of Felixstowe welcomed the maiden call of Laura Maersk, the world's first container ship to complete a voyage fuelled by green methanol. The 2,100 TEU container vessel will operate between Northern Europe and the Bay of Bothnia on Maersk's Baltic shipping route. "This is a truly historic event. It is essential that the industry moves to decarbonise shipping and this
Piraeus Port reports significant growth in half-year profits Piraeus Port Authority (PPA) announced a continued robust growth in profits and income in the first half of 2023, establishing the new greatest performance in the company's history. More precisely, profits before taxes increased by 48.8%, totalling US$52 million, compared to US$35 million in the same period in 2022. In the same period, profits after taxes were US$41 million, up from US$27.4 milli
New agreement for Port of Oakland bulk shipping terminal development The Oakland Board of port commissioners approved changes in its agreement with Eagle Rock Aggregates to develop and operate a bulk marine terminal at the port of Oakland. In particular, the changes stem from the settlement of a lawsuit filed by the West Oakland Environmental Indicators Project (WOEIP) and the Attorney General of California's Office. The lawsuit alleged that the US port did not ad
JAXPORT announces new board chair The Jacksonville Port Authority (JAXPORT) board of directors unanimously elected attorney Daniel Bean as chair and selected additional officer positions effective from today (1 October). Daniel Bean is an attorney and partner at ABL Law, P.A.. He previously served as executive partner of the Jacksonville office of Holland & Knight. Bean currently serves as board chairman of K9s for Warriors, pres
Hapag-Lloyd applies new rates from Europe to Arabian Gulf and Indian Subcontinent German ocean carrier Hapag-Lloyd has announced new tariff rates from Spain and Italy to the Arabian Gulf and the Indian Subcontinent. The updated rates will apply to all 20' and 40' dry containers including high cube equipment from 15 October until further notice. (Italy) 20' Dry containers - all values in US$ From To Current base rate level New base rate level Delta Genoa Jebel Ali, AE 133 283 1
Delivery of new LNG carrier for Petronas The newly built W-Max class LNG carrier "Lagenda Setia" for Petronas LNG was delivered at Hudong-Zhonghua Shipbuilding (Group). The vessel, which is the same kind as the other two ships delivered to Petronas in May and June 2022, was named "Lagenda Setia" on 21 August 2023 by Sharifah Fauziah Wan Idrus, PETRONAS COO and EVP & CEO of Gas Business. Moreover, the naming ceremony was attended by mana
MSC buys 50% of passenger rail operator Italo Mediterranean Shipping Company (MSC) has struck a deal with New York-headquartered Global Infrastructure Partners (GIP) to buy a 50% stake in Italian passenger rail operator Italo, the latest in line of series of investments made by the world's largest containerline. Under the deal, the remaining 50% will be held by GIP, along with German insurer ...
DOF offloads pair of elderly PSVs to Atlantica Shipping Norwegian offshore vessel owner DOF has sold a pair of non-core platform supply vessels to fellow owner Atlantica Shipping in a deal worth NOK275m ($26m). The Oslo-listed company is offloading the 2005-built Skandi Barra and the 2003-built Skandi Caledonia, the two ships recently picked up from lenders for NOK270m in a package that also included ...
Scorpio Tankers declares option to buy back over 20 ships Monaco-headquartered Scorpio Tankers has revealed a series of more than 20 vessel repurchases in a move that will see the Emanuele Lauro-led product tanker owner further reduce its financial costs. The New York-listed company is taking back ships on various sale and leaseback arrangements, including the 2016-built LR2 product tanker STI Supreme, from Ocean Yield, ...
Wilhelmsen and thyssenkrupp debut 3D printing venture Norwegian maritime group Wilhelmsen and Germany's industrial firm thyssenkrupp have formed a joint venture company, Pelagus 3D, a new player in the global maritime and offshore services market which will use 3D printing as its approach to manufacturing. Pelagus 3D envisions becoming the largest one-stop, on-demand digital manufacturing partner for the maritime and offshore industries. ...
TMC Shipping teams with Shipfinex to tokenise assets TMC Shipping has become the first company to tokenise its assets on Shipfinex FZCO's ship financing platform. Shipfinex is looking to provide shipowners with alternative sources of financing by fractionalizing their assets and selling them as digital tokens to investors worldwide. Shipfinex's platform uses Marinecoins as its native token. This way, the shipping firm is ...
Tsuneishi wins landmark order for methanol-fuelled boxships Japan's Tsuneishi Shipbuilding is expanding its project portfolio of methanol-powered ships with its first containership order. The Hiroshima-based shipbuilder has been selected by an undisclosed owner to build four 5,900 teu ships, after previously winning orders for methanol dual-fuel bulkers. Tsuneishi has become a go-to place for methanol-powered kamsarmaxes and ultramaxes with Diana Shipping
Gram Car Carriers panamax wins five-year $114m charter Norwegian tonnage provider Gram Car Carriers (GCC) has signed a five-year time charter deal for the 2007-built Viking Queen car carrier. The Oslo-listed firm said via social media that with this latest deal, all four of its panamax class car carriers have been fixed on long-term contracts with an average duration of almost five years. ...
AVIC Leasing and Zhejiang Jinpu book bulker newbuilds Chinese owners AVIC Leasing and Zhejiang Jinpu have signed up for fresh dry bulk tonnage at compatriot yards. The leasing arm of Aviation Industry Corporation of China has returned to New Dayang Shipbuilding for four more 63,000 dwt ultramax newbuilds, lifting its orderbook at the yard to six. The price being quoted by brokers stands ...
US calls for public input on Maryland offshore wind project The US Bureau of Ocean Energy Management (BOEM) announced the availability of its draft environmental impact statement (EIS) for the proposed Maryland offshore wind project. If approved, the project could generate between 1.1 and 2.2 GW of clean, renewable energy for the Delmarva Peninsula, which could power up to 770,000 homes and support up to ...
Signatories to the Poseidon Principles make changes to align with new IMO targets The 30 banking signatories to the Poseidon Principles, a global green ship finance framework, have made the decision to align their reporting with the new climate goals agreed at the Marine Environment Protection Committee (MEPC) gathering held this July at the headquarters of the International Maritime Organization. "[T]his update signifies the dedication of 30 leading ...
Russia's decision to deploy non-ice class tankers in the Arctic comes in for criticism Russia risks an environmental catastrophe by deploying non-ice class ships on its increasingly busy Northern Shipping Route (NRS), according to experts at New York tanker brokerage Poten & Partners. Thanks to Western sanctions, Russia has increased its focus on deliveries to Asian clients, with plenty of ships choosing the Arctic voyage along the NSR this ...
Jan De Nul expands fleet with cable layer newbuild order Belgian marine contractor Jan De Nul has placed an order at China Merchants Heavy Industry (CMHI) Haimen shipyard for an extra-large cable-laying vessel for delivery in 2026. The vessel, which will serve the renewable energy and subsea cable industry in installing cables over longer distances and in deeper waters, will have a carrying capacity of ...
Last remnants of what was once the world's largest ship financier dismantled Another important chapter in the history of Hamburg shipping has come to a close with the successful wind-down of a portfolio of €4.7bn of non-performing shipping loans from what was HSH Nordbank. HSH Nordbank was once the largest lender in world ship finance, but became unstuck - like many in Hamburg's shipping community - in ...
Baker Hughes lands two major contracts in Norway Nasdaq-listed oilfield services major Baker Hughes has been awarded two contracts by Norwegian operator Vår Energi, expanding its North Sea footprint in exploration logging, well intervention technology and subsea production systems. The first contract is a nine-year engagement for well intervention and exploration logging solutions to assist Vår Energi in further developing prospects in the ...
US dockworkers union files for bankruptcy The International Longshore and Warehouse Union (ILWU) has filed for bankruptcy as a way to shield itself having lost a long running battle over labour issues at the Port of Portland. The ILWU lost a court case eight years ago over a work slowdown situation at a Portland terminal run by Manila-headquartered International Container Terminal ...
Integrated Wind Solutions seals deal to delay payments on CSOV newbuilds Integrated Wind Solutions has strengthened its liquidity position through a deal with China Merchants Industry Holdings to postpone equity yard instalments on four commissioning service operations vessel newbuilds. The Oslo-listed company will have a total of €36m ($38m) at its disposal for up to one year without any major changes to its initial agreement with ...
Ocean Winds sells down stake in Moray East offshore wind farm Ocean Winds, a joint venture between France's Engie and Portuguese electric utilities company EDP, has sold a 16.6% stake in the Moray East offshore wind farm to infrastructure manager and investor, Equitix. This transaction allows Ocean Winds to continue investing in its additional 5GW of offshore wind projects in Scotland. Ocean Winds will continue to ...
Ukraine's new shipping corridor welcomes more vessels Ships are coming in and out of Ukrainian Black Sea ports in increasing numbers - the country's new shipping corridor hugging its coastline and avoiding the Russian military proving effective. In the middle of July Russia pulled out of the Black Sea Grain Initiative, a United Nations-brokered shipping pact, after which Kyiv has worked to ...
Shelf Drilling jackup gets more work in UK North Sea Shelf Drilling has secured more work from CNOOC Petroleum Europe for its Shelf Drilling Fortress jackup in the UK North Sea. Oslo-listed jackup rig pure-play said Monday its North Sea-focussed subsidiary had secured a two-well contract extension, following a firm two-well fixture agreed in August for work until January 2024. The additional work, worth around ...
Swire Bulk sells open-hatch trio Peter Norborg-led Swire Bulk has decided it is time to prune its fleet. The 25-ship strong player is widely reported to be selling three open-hatch bulkers for close to $60m. Sources widely tip JP Morgan to be the highest bidder for the ships. The trio in question were built at Chengxi Shipyard in 2015 and ...
Daily transit limit at the Panama Canal to be cut further Aware of the ongoing drought potential across the country in this El Nino-hit year, the Panama Canal Authority has taken the decision to cut daily transits even further from the start of November. Hit by parched conditions for much of 2023, the administrators of the canal have slashed the maximum draft at the larger neopnamamax ...
Ship accused of grain smuggling linked to UK-registered company San Cosmas - until recently known as Laodicea - continues to engage in suspicious activity in the Black Sea after flag, name...
Scorpio continues to cut finance costs with purchase of 21 leased vessels Scorpio Tankers continues to reduce financing costs. It is exercising purchase options on 21 product tankers, bringing the tally since...
Banks divided over climate ambition as Paris goals are postponed The Poseidon Principles were supposed to foster agreement about the subject of IMO emission targets. However, alignment to the 1.5°C...
The week in charts: Oil cap breach fails to stop compliant shipments from Russia | Limited interest in alternative fuel bulkers | Box spot rates slump CMA CGM boasts largest dual-fuel methanol boxship orderbook, VLGC rates ease from record-shattering highs, Russia's Danube offensive fails to dent...
Steady flow of ships sailing to Ukraine's sea ports After the new arrivals depart, nearly 270,000 tonnes of cargo will have been exported since mid-September
Shoreline offers to insure against costs of US pollution investigations Niche insurer Shoreline's new policy covers initial legal and inspection costs incurred in a US vessel pollution case, and operational...
Shippers face 'confusing jungle' of ETS surcharges The European Emissions Trading Scheme will come into effect from January. Carriers will apply surcharges, but to date only two...
The week in newbuildings: Dual fuel methanol orders ramp up Orders for dual-fuel methanol ships have been confirmed by CMA CGM and Diana Shipping
Another MSC boxship and pair of opaque ownership tankers sold for scrap The 24-year-old crude oil tankers Gulf Venture and Bradley have been sold on an 'as is' basis with delivery in Singapore
Economou discloses new stake in second Palios family-linked company Move follows clash over similar move on publicly listed tanker company Performance Shipping in the past month
Odjfell to test solid oxide fuel cell on chemical tanker Odfjell will start testing a solid oxide fuel cell on a chemical tanker to demonstrate that the technology can cut...
Panama makes further cuts to transits The Panama Canal is struggling with low water levels. The latest measures seek to reduce the number of ships waiting...
West coast dockworkers union files for bankruptcy protection The International Longshore and Warehouse Union filed for Chapter 11 bankruptcy protection, saying a decision by terminal operator ICTSI to...
Daily Briefing Fredriksen mulls Euronav share buyout in return for fleet | Chinese ship lessors look beyond mainstay as geopolitics and market...
ILWU bankruptcy filing provides dramatic twist to long-running Portland dispute The financial health of the powerful International Longshore and Warehouse Union is in jeopardy as the union seeks to avoid paying $19 million in damages to a Portland terminal operator over disruptive job actions years ago.
Global MPV/HL fleet is "between technologies": carriers MPV newbuildings are being designed for higher cargo intake and improved efficiency, but any consensus on green fuels and propulsion systems remains elusive.
FMC mediation office ramps up help for US shippers seeking dispute relief Use of the little-known arm of the FMC comes as shippers are increasingly turning to US maritime regulators to perform a consumer protection function in the aftermath of pandemic-linked disruptions and broad shipping reform that became law 15 months ago.
US LTL carrier Estes hit by widespread systems outage A systems outage that has left less-than-truckload carrier Estes grappling with email, website and data exchange issues is the latest such incident to befall the logistics and transportation industry.
MC mediation office ramps up help for US shippers seeking dispute relief Use of the little-known arm of the FMC comes as shippers are increasingly turning to US maritime regulators to perform a consumer protection function in the aftermath of pandemic-linked disruptions and broad shipping reform that became law 15 months ago.
Asian air export rates rose in Q3 as cargo demand stabilized Rising airline costs and increasing air cargo demand over the last three months have largely insulated rate levels against a steady and significant increase in available air freight capacity.
Inland23: Mexico-to-Southeast intermodal service due to launch in late 2024 CPKC and CSX hope the new joint service will boost volumes along the route, which is not a popular one for intermodal business.
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 will not happen again.
Jan de Nul orders extra-large cable-laying vessel from Chinese shipyard Belgian company has three cable-laying vessels in its fleet already
Maersk ship cuts short Greek trip after container catches fire Coastguards say situation is under control on boxship that turned around mid-sea to sail back to Piraeus
MSC prevails in first-ever US 'charge complaint' over congestion fees Dissenting commissioner argues liner giant should be found in violation of Shipping Act
Seatrium's yard in Brazil refinances debt with $500m ESG-linked loan Company plans to lower greenhouse gas emissions by 40% by 2030
Glencore beats back most claims in 'bad bunkers' fight with Greek shipowner Judge allows dispute over breach of contract allegations, with $300,000 damage cap
Carbon-neutral 'breakthrough': Cargill, Minerva and team design bulker ready for wind and methanol Joint effort also includes Lloyd's Register and shipbuilder NACKS
Dockers union files for bankruptcy protection in face of $19m ICTSI lawsuit International Longshore and Warehouse Union says it has only $11.6m in assets
Podcast: Are electric cars getting a bad rap in ship fires? Audio edition of Green Seas looks at the role of battery-powered vehicles in shipping blazes
Euronav shares sliding in US trading ahead of expected Frontline deal Concerns over fate of minority shareholders could underlie downward momentum
Russia ramps up risks with non-ice class ships on Arctic route, says Poten & Partners Broker says the route has the potential for time and fuel savings, but there are limitations and risks
Two vessels detained amid Argentina-Paraguay toll spat Two countries battle over fees charged by Buenos Aires on the Parana River
Iranian crude exports set to rise further after sanctions-era record Iranian minister says increased US military presence has had no impact on sanctioned trading
Penningtons Manches hires latest Ince & Co departures More lawyers leave troubled law firm that is under investigation
Chemical carrier rate rally could clear path to Stolt Tankers IPO in 2024 Clarksons Securities believes share price gains will follow from earnings rise
d'Amico International extends US reach with cross-trading filing Tanker owner applies for membership of OTCQX Best Market index to make US deals easier
Adam Polemis' New Shipping makes $14m on 21-year-old VLCC bought six years ago Greek shipowner has finally got veteran vessel off the books as prices firm
Wilhelmsen and ThyssenKrupp aim to disrupt maritime parts business with 3D printing venture Pelagus 3D strives for faster lead times, reduced costs and more resilience in spare parts supply chain
Chilean tycoon Andronico Luksic steps down from CSAV board Company was 'one of the most complex business challenges in which I have had to participate'
DOF buys three non-core PSVs from lenders to capitalise on better rates Boss Mons Aase says earnings and ship values expected to continue their positive trend
Bulker group Delta Corp finally sees the end in sight for desired public listing Bulker operator and logistics group announced intention to go public last year and hopes to be Nasdaq-listed by Christmas
Predictions for future of carbon capture market run wild as Norway piles in CCS potential is 'difficult for us to imagine today', Altera head says
Greece's Metrostar scores big on sale of tanker duo Deal talk comes as Theodore Angelopoulos-led company increases its focus on product carriers
Pennningtons Manches hires latest Ince & Co departures More lawyers leave troubled law firm which is under investigation
Pressure bears down on container market, but MSC keeps buying Lower benchmarks in all sizes as charter rates drop to their lowest for three years
TotalEnergies Marine Fuels piles into Itochu-led ammonia bunkering project Aim is to bring an ammonia-fuelled container ship to market in late 2020s
Gram adds $114m of revenue in five-year fix of panamax car carrier Norwegian owner says deal has been done at more than $62,000 per day
Tsuneishi stacks orderbook with methanol dual-fuelled container ships Buyer has not yet been disclosed
Subsea 7 closes on OneSubsea joint venture with SLB and Aker Solutions Oslo-listed offshore player will have 10% stake in new subsea effort
Owners react to weaker markets by slowing bulkers and container ships to record lows Clarksons Research says it is too early to assess impact of emissions regulations, but freight rates are certainly having an effect on speed
Poseidon Principles banks toughen up lending to align with Paris climate targets Group of 30 financial institutions agrees 'substantial' revision of reporting framework
Scorpio Tankers buying 22 product carriers out of leases as it fixes new finance Owner reveals string of deals as it seeks to lower financing costs
Shipbuilder Privinvest in court over $2bn bribery scandal Abu Dhabi-based group wins right to challenge immunity for Mozambique's president
'Fuels competition? What fuels competition?' Green goals too hard for one-way bets Shipping so far behind in its decarbonisation targets that it can not ignore any alternative fuel source, experts argue at the TW Shipowners Forum
Nordic American talks up suezmaxes: 'The market is good for our ships' Herbjorn Hansson-led company says only six million-barrel tankers will join the fleet next year
Kristian Sorensen pockets $1.26m of share options as he becomes BW LPG CEO Former deputy chief executive takes over from Anders Onarheim at VLGC owner
Aframax tankers managed out of the UAE set to hit the beach at Alang Alang recyclers also scoop up Greek panamax bulker and MSC boxship as India leads on price by a large margin
LNG carrier ordering slows in third quarter but there is more to come in 2023 Rest of this year will be 'all about Qatar', market watchers say
Libra Group invests in US LNG bunkering infrastructure Logothetis family outfit teams up with Pilot LNG to develop maiden facility in Gulf Coast and other units elsewhere
Louis Dreyfus to install bound4blue eSAILS on ro-ro fixed to Airbus Move part of its commitment to halve CO2 emissions from its maritime operations by 2030
Russia ramps up risks with non-ice class ships on Arctic route, says Poten Broker says the route has the potential for time and fuel savings, but there are limitations and risks
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