J.P. Morgan makes its first move into methanol-fueled newbuilds The momentum towards methanol fueling continues to build. J.P. Morgan Global Alternative's Global Transportation Group (JPMGTG) reports that institutional investors advised by it have concluded an order for two 49,800 dwt methanol
Dina Aryan-Zahlan takes new role at Port of Los Angeles Veteran Port of Los Angeles engineer and infrastructure development expert Dina Aryan-Zahlan has been named the port's deputy executive director of development, succeding Antonio Gioiello, who retired earlier this year. "Dina is
U.K. warns of new Russian sea mine threat to merchant ships The U.K. Foreign, Commonwealth & Development Office (FCDO) says that intelligence released October 4 suggests Russia may use sea mines to target civilian shipping in the Black Sea and that Russia would
C2X and Egyptian government proceed with large scale green methanol production project C2X inked a comprehensive Framework Agreement (FWA) with its Egyptian sponsors and partners in the presence of Egypt's Prime Minister aiming to speed up large-scale green methanol production in Egypt. C2X is aiming to build, own, and operate assets to produce green methanol at scale with A.P. Moller Holding as majority owner and A.P. Moller - Maersk as minority owner. According to a statement, th
CMA CGM announces new FAK rates from Asia Marseille-based container line CMA CGM will apply new Freight All Kinds (FAK) rates from all Asian main ports to all Mediterranean base ports and North Africa. The following rates will apply to dry, out of gauge (OOG), paying empties, and reefer cargo beginning 1 November 2023: Destinations 20' 40'/40'HC/40'REEFER West Med US$1,400 US$2,000 Adriatic US$1,550 US$2,100 East Med US$1,600 US$2,100 Bl
ThyssenKrupp invests in Port of Rotterdam facilities ThyssenKrupp Steel Europe, a German steel corporation, makes multi-dollar investments in the Rotterdam port with a new unloading installation for seagoing vessels to be built at Ertsoverslagbedrijf Europoort C.V. (EECV). The new unloader, which is scheduled to be operational by the end of 2025, is expected to increase efficiency, environmental friendliness, and safety. This demonstrates ThyssenKr
MSC tops schedule reliability rankings in August Danish maritime data analysis firm Sea-Intelligence has released a report about schedule reliability data of container carriers for January - August 2023. "Source: Sea-Intelligence.com, GLP Report, issue 145" "Source: Sea-Intelligence.com, GLP Report, issue 145" In August 2023, global schedule reliability fell by -0.9 M/M to 63.2%. Except for the May increase, schedule reliability has been within
PortEconomics: Leading terminal operators in top 15 EU container ports PortEconomics member Theo Notteboom reviews the presence of the leading global container terminal operators in the top 15 European Union (EU) container ports, based on 2022 TEU figures. The blue boxes on the following table refer to all types of direct or indirect terminal involvement, such as full ownership, joint venture, or a majority/minority shareholding. A distinction is made between carrie
Global Ports terminals handle 27,000 cars in April-September In April-September 2023, the operator of marine container terminals Global Ports handled 27,000 cars at its St. Petersburg terminals. All the vehicles have been imported to Russia from China by sea and shipped in containers. The main share, 24,500 cars, were unstuffed at Global Ports' marine terminals Petrolesport and First Container Terminal (PLP and FCT respectively, both located in the Big Por
Maersk to shorten transit times with new Spain-France rail service Maersk is launching a new rail service from the Port of Barcelona to Southern France, specially designed to cut transit times of ocean cargo destined for the areas of Toulouse, Bordeaux and Lyon by using Barcelona as an alternative gateway. The new product is expected to commence in early November and will have three weekly direct block trains between Barcelona and Toulouse as well as one weekly
CMA CGM launches new global startup accelerator in UK CMA CGM Group will launch ZEBOX UK in Manchester this month. The French transportation company is a founding partner of ZEBOX and has continued to innovate through the global startup accelerator focusing on operational efficiency, decarbonisation, future of work and artificial intelligence in supply chain, logistics, transport and energy. The Manchester-based startup accelerator is ZEBOX's sixth
Hapag-Lloyd increases rates from North Europe to Indian Subcontinent and Middle East German container shipping company Hapag-Lloyd will increase its ocean tariff rates from North Europe to India, Pakistan, Red Sea and Arabian Gulf. In particular, this rate increase will apply for all 20' and 40' dry containers, including high cube equipment, and will be effective from 20 October until further notice. 20' Dry Containers From To Current base rate level New base rate level Delta Nor
COSCO SHIPPING drives shore power in Hamburg For the first time, the shore power system at HHLA Container Terminal Tollerort (CTT) has been successfully tested in practice. COSCO SHIPPING Taurus received shore power for the first time this week at the Hamburger Hafen und Logistik AG (HHLA) terminal as part of a ship integration test. COSCO SHIPPING Taurus, like many current COSCO SHIPPING vessels, is outfitted with integrated shore power su
Port of Thessaloniki acquires majority stake in another Greek port The Thessaloniki Port Authority (ThPA), which manages the second largest port in Greece, has announced the acquisition of 67% of Volos Port Authority, the managing company of another greek port. The transaction price was €51 million (US$53.6 million). ThPA's participation in the tender for the utilisation of the Port of Volos was decided by the Company's Board of Directors following a comprehensi
BlueBox Systems collaborates with WACO In a new partnership with BlueBox Systems, WACO members can now track air and ocean cargo shipments, preventing delays and enhancing collaboration within the network. More specifically, in the form of two freight visibility platforms, BlueBoxAir and BlueBoxOcean, BlueBox is delivering collective analytics for WACO members and bringing real-time oversight of shipment status and flight-related data
Port of Los Angeles names new deputy executive director of development Dina Aryan-Zahlan, a senior Port of Los Angeles engineer and infrastructure development expert, has been appointed as the port's deputy executive director of development. Dina Aryan-Zahlan will replace Antonio Gioiello, who retired earlier this year. "Dina is an inspiring leader and dedicated public servant who consistently demonstrates an unwavering commitment to excellence," stated Gene Seroka,
Saverys and Fredriksen come to an agreement to hive off 24 Euronav VLCCs to Frontline Euronav and Frontline have come to a deal in the long-simmering battle for control of one of the jewels in the European tanker crown. Two years after John Fredriksen-controlled Frontline first initiated a bidding war for Antwerp-based Euronav the deal on the table sees Frontline walking away with 24 Euronav VLCCs for $2.35bn in exchange ...
Gulf Island resolves lawsuit over Hornbeck Offshore MPSV duo Gulf Island Shipyards has resolved a lawsuit relating to the construction of two multi-purpose supply vessels Hornbeck Offshore. Due to the resolution, the court dismissed the lawsuit at the request of the parties to the litigation. Gulf Island, Fidelity & Deposit Company of Maryland, and the issuer of the performance bonds for the MPSV contracts ...
CMA CGM ups startup accelerator game with new UK hub French liner CMA CGM has revealed plans to launch ZEBOX UK, a Manchester-based startup accelerator, later this month. The ZEBOX accelerator in Manchester is the sixth such innovation hub in the world. According to CMA CGM, ZEBOX UK will tap into Manchester, London, and Northern Europe expanding the accelerator's global network of entrepreneurs, business leaders, and ...
Allseas' Pioneering Spirit gets pipelay work on BP's GTA gas project Energy giant BP has chosen Allseas to complete the subsea pipelay scope for its ultra-deepwater Greater Tortue Ahmeyim (GTA) natural gas project offshore Mauritania and Senegal. Allseas will start GTA offshore pipelay works in early December 2023 using the world's largest construction vessel Pioneering Spirit. Installation support will be provided by Allseas' offshore construction support ...
Bullish tone for next year's SMM Hamburg In what may be the most bullish meet-up of owners, yards and suppliers for more than a decade at Hamburg's giant SMM exhibition next year, a new survey suggests shipowners are more willing to place orders for new ships than at any time for many years - the problem they face is finding an available ...
Gunvor and Solvang link up for five carbon capture-ready VLGC newbuilds Swiss-based commodity trading giant Gunvor has formed a joint venture with Norwegian gas shipowner to own and operate five LPG carrier newbuilds designed for onboard carbon capture. The JV has placed an order at South Korea's Hyundai Heavy Industries with deliveries scheduled from September 2026 to July 2027. All five vessels will be on long-term ...
Saipem bags $4.1bn Hail and Ghasha EPC deal from ADNOC Italian energy services contractor Saipem, in consortium with National Petroleum Construction Company, has won a contract from ADNOC for work on the Hail and Ghasha Development Project. ADNOC today announced the final investment decision for the Hail and Ghasha project and awarded nearly $17bn worth of contracts for the project. The project aims to operate ...
Fire breaks out on livestock carrier carrying 3,600 cattle A 21-year-old livestock carrier is returning to port in Australia with its cargo of 3,600 cattle after a fire broke out in the engine room yesterday. Vroon's ran into difficulties shortly after leaving the port of Darwin yesterday bound for Indonesia. The fire was extinguished promptly and the ship is currently at anchor just outside ...
MOL makes further wind play as it buys into Odfjell Oceanwind Japan's Mitsui OSK Lines (MOL) has become a shareholder in Norwegian floating offshore wind specialist Odfjell Oceanwind. The size of the investment was not disclosed, but Odfjell Oceanwind said the transaction "generates significant capital" which will be used to further strengthen the company's position in floating wind. The deal follows the recently announced partnerships with ...
Integrated Wind Solutions inks CSOV charter with Asso.subsea Integrated Wind Solutions (IWS) has entered into a time charter contract at market terms with Greece-based offshore contractor Asso.subsea. The contract will begin in the fourth quarter of 2024 or the first quarter of 2025 and have a duration of up to eight months. The charter contract is related to supporting IWS' activities at an ...
Sanko slashes fleet in half One of the most famous names in Japanese shipowning history has slashed its fleet in half. Sanko Steamship has sold the 11-year-old, Sasebo-built panamax bulker Sanko Fortune for $21m to undisclosed Greek interests leaving it with just one ship left, the 2021-built, 82,514 dwt Sanko Hawking bulk carrier. Sanko, founded in 1934, was the biggest ...
Hyundai Glovis no longer under vessel decommissioning spyglass Norway's $1.3trn Government Pension Fund has terminated the observation of Hyundai Glovis after the South Korean shipowner introduced a new policy for the disposal of decommissioned vessels. Norges Bank took note of a recommendation by the Fund's Council of Ethics and published its decision to start observation of Hyundai Glovis in March 2022 due to ...
Cetus Maritime taps Japanese leasing in four-ship deal with BNP Paribas Hong Kong bulker owner and operator Cetus Maritime has sealed a fresh refinancing deal with BNP Paribas for four of its eco-designed handysize bulk carriers. The deal, in which SBI Leasing Services was involved as the equity arranger, has seen the Marshall Islands flagged quartet refinanced from a term loan into the JOLCOs (Japanese Operating ...
DP World joins forces with Indian batting legend Sachin Tendulkar in bid to make cricket more global Today marks the start of the Cricket World Cup in India, one of the largest sporting occasions across the globe, with one project involving containers and the host nation's most beloved sportsman being unveiled to spread the game to new frontiers. Dubai terminal operator DP World has debuted the new Beyond Boundaries initiative, in partnership ...
Mine threat as more ships gear up to enter Ukraine's new shipping corridor Another 12 international merchant vessels are gearing up to enter Ukraine's new shipping corridor, even though new intelligence from London has warned of the threat of Russia laying mines to deter the fledging trade lane. In the middle of July Russia pulled out of the Black Sea Grain Initiative, a United Nations-brokered shipping pact, after ...
Carisbrooke Shipping orders 7,280 dwt bulker from Thecla Bodewes Carisbrooke Shipping has made an order for a Labrax 7,280 dwt diesel-electric multipurpose dry cargo vessel from Thecla Bodewes Shipyards. Thecla Bodewes Shipyards said in a statement that the construction of the dry cargo vessel was a significant investment by Carisbrooke in the renewal of its fleet which will enhance the company's global shipping operations. ...
Mermaid Maritime wins $485m worth of contracts Thailand's Mermaid Maritime has secured multiple contracts valued at $485m. The Singapore-listed company said the project awards are for its subsidiaries in Thailand, the Middle East, Western Sub Sahara, and the UK. The work scope includes cable laying, subsea pipeline tie-ins, inspection, repair and maintenance, decommissioning, and a bouquet of related services. Project execution starts ...
Tests underway on keenly watched nuclear reactor Tests are underway in the US in what backers argue could be shipping's long-term answer to its decarbonisation riddle. Southern Company, TerraPower and CORE POWER have started pumped-salt operations in an integrated effects test (IET) of TerraPower's first-of-a-kind nuclear molten chloride fast reactor (MCFR). Since installation of the IET at TerraPower's laboratory in Everett, Washington, ...
Heidmar pulls plug on US listing plan and merger Heidmar has terminated the merger with Home Plate Acquisition Corporation, a US-based special purpose acquisition company led by Dan Ciporin and Jonathan Rosenzweig. In conjunction with the termination of the business combination agreement, each of the ancillary documents has also been terminated in accordance with their respective terms. The Athens-based tanker pool specialist entered into ...
EU ETS island exemptions cause concerns over fairness in Finland Exemptions for ships serving islands are needed to help ease the hit from new carbon charges. But one operator says...
General cargoship hits suspected sea mine on voyage to Ukraine The Türkiye-flagged general cargoship is on its way to its next destination having suffered minimal damage
Heidmar cans merger with Nasdaq-listed blank cheque company Plans to grow tanker, dry bulk and pooling activities will advance 'organically'
Glenn Murphy drives transformation at shipbrokers' institute Educating the next generation of shipbrokers remains at the heart of the ICS, however refreshing its objectives was long overdue...
Green recycling start up confirms expansion plans Joint venture plans to purchase ships via sale and lease-back deals with the ultimate aim of recycling vessels for re-use...
Euronav suspends shares as Fredriksen eyes $2.35bn tanker carve out CMB and Frontline are on the verge of agreeing a major parting of the ways that would see John Fredriksen...
Incremental increases to Iran's rejuvenated oil exports likely to have 'muted' effect on mainstream tanker market Preliminary figures from UANI show Iran exported more than 1.5m barrels per day for second consecutive month in September, amid...
Panamaxes outpace capesizes in Indian coal trade shift Dry bulker trading patterns have altered this year as coal imports into India declined, while those into China spiked
Samsung Engineering and Carbon Clean to develop onboard carbon capture The partnership brings together their expertise in engineering, construction and carbon capture in other industries, as they venture into the...
MOL buys stake in Odfjell Oceanwind Odfjell Technology combined with the Odfjell family's stake means will remain the company's largest shareholder
Thessaloniki wins tender for Volos port Thessaloniki aims for wider intermodal and logistics network
UK exposes Russian Black Sea mining plans to block Ukraine grain exports Intelligence by the UK government suggests Russia may use sea mines to target civilian shipping in the Black Sea and...
US Coast Guard rescues 12 crew after ship runs aground off US Virgin Islands Crew of Vanuatu-flagged support vessel was rescued by the US Coast Guard after they abandoned the ship as it was...
CMA CGM boosts UK presence with innovation hub CMA CGM is boosting the entente cordiale with a commitment to the startup environment in northern England. Manchester offers supportive...
Daily Briefing Ukraine and Russia-bound ships dominate detentions and port bans | Ships going to Ukraine are getting less shy about it...
Rail dwells rising along West Coast amid shortage of available rail cars Marine terminal operators in Los Angeles-Long Beach and the Pacific Northwest are dealing with an increase in rail container dwell times due to an east-west imbalance in rail equipment that has worsened in recent weeks.
Maersk using self-driving trucks to move Houston-Oklahoma City freight The shipping giant is running four dry-van round trips each week on the approximately 400-mile route between the two cities.
Seatrade plays service card in latest container ship order: analyst The Benelux-based reefer owner/operator says its fast, dedicated and direct model trumps the transshipments, transit times and indirect costs of the major carriers.
Doubts growing over shipping's readiness for Europe's ETS carbon tax To comply with the European emissions trading system, ocean carriers will essentially need to become experts in carbon credit trading, on top of monitoring, verifying and reporting CO2 emissions.
Capesize bulker rates 'pop again' as manufacturing rebounds during China holidays Uncertainty around Ukraine's grain exports also support large bulker sector, Signal Group says
Euronav deal at (just) below NAV earns blessing of equity analysts Jefferies and Stifel researchers both say Euronav shareholders being offered a reasonable price
CMA CGM joins liner operator rivals in passing EU emissions trading costs to customers CMA CGM touts biofuels and optimisation but says customers will foot the bill for carbon allowances
With no help from Opec, VLCC spot market threatens to fully erase September rebound Baltic assessments spend second day in the red as Opec+ holds the line on crude supply cuts
Euronav shares soar in US trading on confirmation of Frontline talks Stock 'overhang' may be removed as company clarifies all shareholders will get offer
US professional investor reflects how his Maxim-related shipping stake went south Another disgruntled investor who lost money on deals coordinated with the Maxim Group tells his story
US investor mulls how his Imperial Petroleum investment went south Another disgruntled investor who lost money on Maxim Group-related deals tells his story
Maersk moves in on shipyards for next methanol-fuelled container ship fix Behemoth seeking berth space as Chinese yards fill
US professional investor reflects how his Maxim-related investment went south Another disgruntled investor who lost money on deals coordinated with the Maxim tells his story
New Stolt-Nielsen management shelves Stolt Tankers public listing Tanker shipping arm now seen as cashflow driver, says Udo Lange
Aframax spot rates rebound to two-month high as US Gulf Coast strength draws tankers North Sea activity quietens down and Mediterranean holds steady
Euronav confirms talks over CMB buying out Frontline as 24 VLCCs to change hands for $2.35bn Belgian shipowner says discussions are 'well advanced' but no guarantee deal will be struck
VLCC term deals still beating spot market as ExxonMobil and Mercuria move for ships Yasa Tankers and Olympic Shipping among owners taking cover on tankers
Norway revokes investment ban on Thoresen Thai over Bangladesh scrapping Country's sovereign wealth fund also says it has halted observations on Hyundai Glovis
Shipowner must shoulder $7.7m piracy payout, UK's top court told Switzerland-based trader Gunvor is appealing over multi-million dollar bill from Somali pirate seizure of product carrier
Solvang-Gunvor joint venture revealed as buyer behind five VLGC order at Hyundai Heavy Newbuilding will have carbon capture technology on board
Exclusive: US investor mulls how his Imperial Petroleum investment went south Another disgruntled investor who lost money on Maxim Group-related deals tells his story
Fearnley Securities shipping analyst Ulrik Mannhart switches to Hayfin Capital Norwegian expert moves to UK-headquartered lender and shipowner
Carisbrooke kicks off fleet renewal with order for diesel-electric MPP vessel Anglo-Dutch owner heads to Thecla Bodewes for eco cargo ship
JP Morgan confirms debut order for methanol-fuelled product tankers in China US bank says deal has been done by institutional investors advised by its global transport group
Tough stance by EU could drive CII emission cuts, study finds Carbon emissions could be cut significantly if EU takes action against lower-rated vessels, says campaign group
Carisbrooke kicks off fleet renewal with order for diesel-electric multipurpose Anglo-Dutch owner heads to Thecla Bodewes for eco cargo ship
London P&I Club claims its financial position is improving after derisking Underwriting profit, investment returns and lower claims have helped push up solvency levels
Carbon price delay is derailing clean fuels, Trafigura's Rasmus Bach Nielsen warns Green fuel players are putting some of their plans on ice, waiting for IMO action to stimulate demand
MOL continues offshore wind drive with investment in Odfjell Oceanwind Japanese giant follows TouchWind deal with new cooperation in Norway
Cyprus' Themis Papadopoulos unveils plans to burnish ship management credentials The president of the Cyprus Shipping Chamber is upbeat about ambitious projects
Bourbon Horizon and Amogy link up for zero-emission PSV newbuildings Duo comes together with consultancy Green Ships for as many as three vessels
New boss Udo Lange 'impressed' as Stolt-Nielsen pushes up profit CEO says chemical tanker rates have stabilised after weaker third quarter
Cetus Maritime refinances handysizes through Japanese leases with BNP Paribas Transaction is second this year involving JOLCOs for owner formed by merger of Asia Maritime Pacific and Hamburg Bulk Carriers
CEO quits troubled South African state port monopoly Top executive leaves Transnet after three years at the helm amid pressure from miners and unions
Carbon price delay derailing clean fuels, Trafigura's Rasmus Bach Nielsen warns Green fuel players are putting some of their plans on ice, waiting for IMO action to stimulate demand
New Ukraine grain trade tempts risk-hungry shipowners with superior earnings Juicy tripcharters beckon for old vessels in high-risk, high-reward Black Sea business
Greece's Alassia NewShips Management inks first orders in a decade for bulker trio in Japan Oshima Shipbuilding garners yet another Hellenic client
War insurer Vessel Protect backs Ukraine grain shipments UK insurer says it is providing cover for ships trading on a new high-risk route
Mermaid Maritime rides offshore recovery with multiple new contracts worth $485m Project locations run the gamut from Thailand to the Middle East, Western Sub Sahara and the UK
UK claims Russia may use mines to target shipping in the Black Sea Intelligence suggests Moscow wants to avoid sinking ships but seeks to blame Ukraine for any casualties
China's ascent in shipowning drives fresh demand for old hands in ship management The lack of domestic competition is creating opportunities for traditional third-party players
PIL ties down forward fixtures of 7,500-teu newbuilds Singapore carrier commits to long-term charters of four vessels due for delivery from Shanghai Waigaoqiao in next two years
Amazon's largest cargo jet makes debut Amazon has added the first of 10 Airbus A330 freighters to its fleet.
Tanker shipping's 'odd couple' prepares for a divorce Tanker giant Frontline is poised to dramatically expand its fleet, while Euronav is on a path to privatization.
FedEx airplane makes hard landing at Tennessee airport A FedEx cargo airplane made a hard landing in Chattanooga, Tennessee, after a landing gear failure.
Qantas Freight fumbles IT rollout, stranding cargo shipments Qantas' freight division had trouble smoothly deploying a new cargo reservation system and shippers are livid about lengthy delays moving their goods.
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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