DEME awarded Empire Wind cable contract Belgium's DEME Group reports that its DEME Offshore US subsidiary has been awarded a "substantial" contract for the transportation and installation of inter-array cables for the E
Chinese export container rates drop despite normal CNY cargo rush An unusual drop in prices was observed in Chinese container exports, according to chief shipping analyst at BIMCO, Niels Rasmussen, who noted that box rates, which normally enjoy a spike in the weeks leading up to Chinese New Year (CNY), seem to be on a free fall this year. In fact, spot rates for containers loading in Shanghai will normally be 12% higher just before CNY than 10 weeks earlier. Si
China Shipowners' Association joins ICS as full member The China Shipowners' Association (CSA) has joined the board of the International Chamber of Shipping (ICS). The establishment of CSA as a full member of the board applies from 1 January 2023. ICS board's role is to oversee the policy positions ICS presents on behalf of shipowners worldwide with the shipping industry's global regulators, including the UN International Maritime Organization and th
Port of Valencia achieves increased container rail traffic During the first eleven months of 2022, 216,965 containers have been moved by rail at the port of Valencia, representing a 10.24% increase compared with the same period in the previous year. In fact, between January and November of 2022, more than 4,200 trains have passed through the Spanish port, which is translated to a weekly average of more than 87 units compared to 77 trains per week in 2021
Indian ports end 2022 on a promising note as box volumes stay resilient According to the latest exclusive port data collected by Container News , the flow of containers in and out of Indian ports is showing signs of a resurgence after a brief period of slowing trends. Countrywide box volumes (including major and minor ports) in December stood at 1.7 million TEUs, a 5.9% increase month-on-month. Of this, by port, Nhava Sheva (Jawaharlal Nehru Port Authority, or JNPA)
CMA CGM backs compatriot start-up in its solar sail project CMA CGM Group supports Gama in its solar sail mission, as it is already using satellite information to improve its operations worldwide for navigation, real-time maritime conditions and telecommunications. Gama is a French start-up company which tries to redefine deep space access at low cost. The satellite containing Gama's solar sail was launched on 3 January 2023 on a SpaceX Falcon 9 rocket, a
MSC, CMA CGM, Evergreen and Zim most active fleet builders in 2022 MSC, CMA CGM, Evergreen Marine Corporation and Zim Lines registered the largest fleet growth among liner operators in 2022, according to Alphaliner's latest report. The four lines engaged in aggressive newbuilding orders, long-term charters and second-hand purchases to bolster their competitiveness just before the freight market began normalising in mid-2022. MSC, which overtook Maersk Line as th
Maersk to build first green and smart logistics centre in China Maersk has unveiled a US$174 million investment in the construction of its first green and smart logistics centre in China. The Danish company has already signed a Land Grant Contract with the administrative committee of Lin-gang new area of the Shanghai Free Trade Zone in late December 2022. The purpose of this facility is to achieve net-zero emissions when it will be completed with the project
Port of Lisbon suffers cyber attack Hackers at LockBit claim that they have taken down Port of Lisbon's website and have stolen files and data from the computer systems of the Portuguese port. The cyber attack seems to have occurred on 25 December 2022 and the hackers threaten that they will publish all the data that they have gained access to if they will not receive US$1.5 million until 18 January. The post appeared first on Con
Navig8 bolsters eco MR pool with DSD Shipping's pair Navig8 has beefed up its eco MR pool with the addition of two modern South Korean-built product tankers from DSD Shipping. The Norwegian owner has committed the 2019-built and the 2020-built . Both ships were delivered in December, lifting the total number of eco MRs under Navig8's management to 13. The units follow Latsco's 2017-built ...
Vopak links with Hydrogenious to ship hydrogen using existing fuel infrastructure Dutch oil and chemical storage group Vopak has partnered with Hydrogenious LOHC Technologies to establish a joint venture company for hydrogen storage, transport and supply utilising conventional liquid-fuel infrastructure. The German-based joint venture, named LOHC Logistix, will use Hydrogenious' liquid organic hydrogen carrier (LOHC) technology which is based on thermal oil benzyl toluene that
PNSC offloads aframax Pakistan National Shipping Corporation (PNSC) has completed the sale of its 2003-built aframax tanker . The state-controlled shipowner said in a filing its subsidiary Karachi Shipping Company offloaded the Imabari-built 107,100 dwt ship to an undisclosed buyer. Online pricing portal VesselsValue suggests PNSC fetched around $21m from the deal, while several brokers reported earlier that ...
China Shipowners' Association joins ICS The China Shipowners' Association (CSA) has become a full member of the International Chamber of Shipping (ICS), an international trade association that represents 80% of the global shipping industry. The CSA will join the ICS board, which oversees the policy positions ICS presents on behalf of shipowners' with the shipping industry's regulators, including the International ...
DEME scores Empire Wind contract DEME Offshore US has won a contract from Empire Offshore Wind, a joint venture between Equinor and BP for the transportation and installation of inter-array cables for the Empire Wind 1 and 2 offshore wind farms on the US East Coast. The installation works, including 350 km of cables, will be performed by a cable ...
Samsung Heavy presses ahead with floating nuclear power plants South Korean shipbuilder Samsung Heavy Industries has developed a conceptual design for a floating nuclear power plant based on compact molten salt reactor (CMSR) technology. The CMSR power barge concept, approved by the American Bureau of Shipping (ABS), supplies electricity and thermal energy produced by utilising CMSR technology developed by Denmark's Seaborg. The two companies ...
Beks ensures Turkey rides high in the S&P charts Istanbul-based Beks Ship Management and Trading remains one of the most active Turkish owners in the secondhand market. Turkish tycoon Ali Bekmezci has almost singlehandedly secured the republic of Turkey a spot on Allied Shipbroking's S&P's top 10 list, published in the last week of 2022, bringing the country up to third place in the ...
Sharma taps former Eastern Pacific head to run his shipowning empire Anil Sharma has tapped a well-known name to head up his fast expanding shipowning empire. Best known for his ship recycling activities at Global Marketing Systems (GMS), Sharma also controls Lila Global, one of the fastest growing shipowners in Dubai. Steve Kunzer, who ran Eastern Pacific Shipping for five years through to 2018, will become ...
Tanker waypoints to look out for in 2023 After a bumper 2022 thanks to limited new supply and stretched supply chains seeking oil from all corners of the globe, analysts are confident the tanker segment is set to enjoy another solid year of earnings. Researchers at Nowegian brokers Lorentzen & Co believe tonne-mile demand for crude oil carriers will increase by 10% and ...
Shelf Drilling secures further extension from Chevron in Angola Oslo-listed jackup rig operator Shelf Drilling has secured a further 12-month extension on the 2007-built in direct continuation of its current contract offshore Angola. The rig is currently working for Chevron and the new deal will keep the Singapore-built unit busy until November 2024. The new deal follows a one-year extension the Dubai-headquartered firm with ...
TGS and CGG to expand coverage in Brazil's Foz do Amazonas basin Seismic data providers TGS and CGG have announced the second phase of the Foz do Amazonas 3D multi-client survey, located in the offshore Brazil equatorial margin. The survey, supported by industry funding, covers 11,425 sq km that will broaden the region's 3D coverage and deliver additional data for the exploration efforts in the basin. Early-out ...
CMA CGM sails into new space Already sailing the world's seven seas, French liner CMA CGM has helped hoist a sail far, far away. After two years of research and design, the satellite containing French start-up Gama's solar sail was launched yesterday on a SpaceX Falcon 9 rocket. The solar sail is a new means of space propulsion that uses photons ...
New Turkish liner heads to Russia A new name in Turkish container shipping is providing links to Russia. Sidra Line, founded in Istanbul last May by former COSCO executive Ferec Kahveci, has recently launched a Black Sea feeder service linking Istabul with Novorossiysk, one of a host of new Turkish links to Russia in the 10.5 months since war broke out ...
Shearwater awarded 4D surveys by Petrobras Norwegian offshore seismic specialist and vessel player Shearwater GeoServices has won two contracts from Petrobras for 4D surveys in the Campos Basin offshore Brazil. The first contract is for a second 4D monitor survey over the Jubarte and Baleia Anã fields, expected to start in the third quarter of 2023, while the second contract covers ...
Greencoat Renewables takes stake in German offshore wind farm Irish investment firm Greencoat Renewables has sealed a deal to acquire 22.5% of the 288 MW Butendiek offshore wind farm in Germany from Marguerite Pantheon. The wind farm is located in Germany's exclusive economic zone in the North Sea and consists of 80 Siemens Gamesa 3.6 MW turbines that have been operational since 2015. Butendiek ...
ISWAN welcomes Karin Orsel as new chair Shipping CEO and diversity and inclusivity advocate Karin Orsel has been announced as the new chair of international maritime charity the International Seafarers' Welfare and Assistance Network (ISWAN). A trustee of ISWAN for seven years, Orsel is the founder and CEO of MF Shipping Group in the Netherlands. "With all the challenges facing the world ...
Lisbon port hit by cyber attack The website of the Port of Lisbon is still down, 10 days after Portugal's third-largest port was hit by a cyber attack on Christmas Day. Hackers at LockBit have claimed its ransomware has taken down the port's website and internal computer systems, and are demanding $1.5m be paid before January 18 or else it will ...
Germany welcomes first US LNG shipment This week Uniper brought Germany's first full cargo of liquefied natural gas (LNG) to a new LNG terminal, operated by Uniper, in Wilhelmshaven, the latest chapter in Europe's great shift away from Russian energy sources. The LNG ship , owned by Tsakos Energy Navigation, was loaded with 170,000 cu m of LNG at Calcasieu Pass ...
New Chinese car carrier JV launches China has another new car carrier joint venture. The nation which registered the fastest growth in car exports last year has welcomed a host of new car carrier names recently, the latest being Anhui Hangrui International Ro-Ro Transportation Company, a joint venture between car manufacturers Chery and JAC with Anhui Provincial Port and Shipping Group. ...
Celsius gives China Merchants its entrance into LNG carrier construction After having a newbuilding letter of intent agreed since the autumn, China Merchants Heavy Industry Jiangsu and Celsius Tankers have now signed contracts four firm 180,000 cbm LNG carriers with unit contract price understood by brokers to be around $235m. The contract comes with options for four more vessels, and marks the official entry of ...
Captain's Table finalists announced Today marks two weeks until the finals of the fourth edition of The Captain's Table, which will be streamed live on Splash. Consistent with the competition's core value of bringing forward solutions to real problems faced by the maritime industry, this year's finalists showcase solutions on issues such as decarbonisation, optimisation and risk management. The ...
Teledyne acquires ChartWorld New York-listed Teledyne Technologies has acquired Cyprus-headquartered navigation specialist ChartWorld International. Terms of the transactions have not been disclosed. "ChartWorld's maritime navigation software and hardware tools bridge a product and technology gap between our Teledyne Marine and Raymarine businesses," said Robert Mehrabian, Teledyne's chairman. "Furthermore, the acquisition a
Brazil's incoming minister of ports says Port of Santos will not be privatised Marcio Franca, who serves as minister of ports and airports in President Luiz Inácio "Lula" da Silva's new government, told Brazilian newspaper O Estado de S. Paulo in December that the Port of Santos, Brazil's largest port, located southeast of Sao Paulo, will not be privatised, as planned by the previous government. "The (privatisation) auction ...
US receives just one bid in Alaska oil and gas lease sale The US Bureau of Ocean Energy Management (BOEM) on December 30 held an oil and gas lease sale for blocks in Cook Inlet, Alaska. The sale generated just one bid for one tract. The bid, in the amount of $63,983, was submitted by Hilcorp Alaska LLC. Lease sale terms for Cook Inlet include stipulations to ...
Recalibrating global diesel trades keeps clean tanker rates near 20-month highs Europe stepping up diesel shipments from Middle East Gulf and India ahead of February 5 ban on Russian imports
Russian vessel makes first traceable call to Mariupol since invasion Operations at the port of Mariupol are thought to have started at the end of May, but this is the...
Oil geopolitics lift tanker freight futures volumes to 22% of underlying physical trade Lots representing 652.7m tonnes of crude and refined products were bought and sold last year, close to the 12-year high...
Container markets bearish despite spot-rate rebound Analysts expect further rate markdown after the Chinese New Year holiday as shipping lines are warned to brace themselves for...
China Shipowners' Association joins ICS 'This membership will strengthen our ability to work together, united as an industry, to tackle the most pressing issues facing...
MSC secures position as leading boxship operator MSC has added a panamax and two feedermax boxships to its fleet to bring its tally of secondhand purchases to...
China shipbuilders log record year for LNG carrier orders China Merchants Industry Holdings recently won orders for up to eight 180,000 cu m ships
Daily Briefing Ukraine war risk cover switched to net line basis | Black Sea Grain Initiative facilitates 16m tonnes of exports since...
Alaska oil and gas lease sale draws one bid The Cook Inlet sale was previously scrapped due to a lack of industry interest
KSOE rules out IPO for Hyundai Samho Heavy Industries South Korean private equity company bought a stake in HSHI with the condition that the shipyard would be listed on...
K Line anticipates 'best ever' financial performance The outlook for the immediate future is unclear due to a range of uncertainties, including high energy prices and interest...
Chinese automakers form shipping venture with port group Chery and Anhui Provincial Port & Shipping Group will each hold a 44.11% stake in the joint venture, with the...
India-US string the latest to add Jeddah call as carriers scramble for cargo The Indamex 2 string, touted as the fastest connection between West India and the US East Coast, has become the latest routing to bet on a strategy around incremental transshipment cargo opportunities coming from Africa and the Middle East.
Tankers struggle with New Years hangover as market flounders In some regions, tonnage lists shortened to start the year, but many parts of the market continue to languish
Eagle Bulk has landed at the corner of Wall Street and Broad Connecticut owner completes transition from Nasdaq to senior New York Stock Exchange
Baltic Dry Index continues to fall after biggest plunge in decades Index's plummet on Tuesday does not accurately reflect dry bulk market's gradual softening, market expert says
North American decarbonisation group taps new vice president Blue Sky Maritime Coalition adds Jennifer States to its staff
Solar-powered yacht builder denies its vessel caused general cargo ship deck fire Silent Yachts decries allegations its solar power system ignited a blaze aboard a Briese Schiffahrt vessel
CMA CGM exits Russian terminal sector through share swap French company follows Maersk and divests Russian assets
Insurer Skuld makes key appointment in its hull business Insurer takes on experienced underwriter who formerly worked at rival Norwegian Hull Club
Nordic American says suezmax market set fair for 2023 Tanker owner says low orderbook and political uncertainty set to lift earnings
Singapore's Eastern Pacific Shipping turns to Japan for bulk carriers and container ships The market leader in LNG dual-fuel vessels has also opted for conventionally fuelled ships
Navig8 gets its hands on more eco MRs in deal with Norway's DSD Pools giant adds two modern vessels to growing product tanker operation
Shipowning giant China joins the International Chamber of Shipping One of the world's largest shipowner associations finally becomes a full member, 30 years after it was formed
Nordic Shipholding board resigns as investors agree liquidation Former tanker company now being wound down by Danish lawyer Louise Korpela
Wiebers makes returns as Rudack takes helm at KfW IPEX-Bank Banker will head a newly merged transport desk as focus shifts to sustainable finance
Iranian oil exports aided by 'near 300-strong shadow fleet' Campaigning group says the US needs to do more to put pressure on tankers moving Iranian crude oil
New Dubai broker PSSL lines up $600,000 crypto token sale Tanker and bulker chartering player will begin accepting payments in its own currency
South Korea's KSOE lowers order target for the year Hyundai shipbuilding group forecasts a fall in demand for newbuildings amid slowing global economy
Hafnia tipped to post record-breaking $352m profit for fourth quarter Fearnley Securities also expecting bigger investor hand-outs
SCI roadshows planned as $524m privatisation set to move forward State sell-off of shipowner looks likely to clear latest legal hurdle
H2Carrier links with Greenland wind farm for green ammonia floater Norwegian company teams up with clean energy firm
SCI roadshows planned as $524m privatisation set to move forward State sell-off of shipowner looks likely to clear latest legal hurdle
Russian engineer found dead on Safeen bulk carrier off India Post-mortem delayed as officials wait for supramax to berth
South Korea's KSOE lowers new order target for the year The South Korean shipbuilding group forecasts a fall in demand for newbuildings amid a slowing of the global economy
Steve Kunzer to become CEO at GMS shipping arm Lila Global Veteran executive makes a comeback in the top position of a shipping company
Vopak launches hydrogen shipping venture using existing tankers Terminals group working with Hydrogenious to carry green fuel in thermal oil
MSC's secondhand shopping spree veers towards $10bn mark Liner giant hoovers up more container ships as asset values crumble
K Line CEO Myochin says this year's results to be 'best ever' Japanese owner said it plans to maintain its investment discipline and avoid repeating the mistakes of the past
Asian bulker operators shed older tonnage onto recyclers ITC Corp, Fuhai Shipping and Lila Global send bulkers for demolition as scrap prices stabilise
Pro-union mandate at Chicago O'Hare threatens to disrupt cargo flights The city of Chicago is pressuring cargo agents at O'Hare airport to make a deal with a powerful union. If they don't, significant cargo backlogs could occur.
The evolution of car carriers As cars gained popularity, ships were converted and built specifically for transporting vehicles overseas.
National Air Cargo seeks bulky business with 747, Beluga freighters Specialized freighters with nose cones that open are helping National Airlines and its sister logistics company capture more oversize business.
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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