Coast Guard removes protesters from RRF ship Cape Orlando Coast Guard Sector San Francisco watchstanders received a report of a demonstration happening within the Oakland Harbor near a vessel, the MARAD Ready Reserve Force (RRF) RO/RO ship Cape Orlando, around 8:30
OSG's Sam Norton: "Our business plan is working" "We made progress on all of our key objectives since our report for the second quarter," said Sam Norton, president and CEO of Overseas Shipholding Group (NYSE: OSG) as the U.S.-flag tanker
Contecon Manzanillo sets record in single ship call Contecon Manzanillo S.A. (CMSA), International Container Terminal Services, Inc.'s (ICTSI) business unit operating the Specialised Container Terminal 2 in the port of Manzanillo, hit a new milestone with the handling of 14,400 TEUs during the recent call of the CMA CGM vessel APL Vanda. "The operation on the APL Vanda, with more than 14,400 TEUs, is a historic milestone for Contecon Manzanillo an
CyberLogitec announces OPUS D&D implementation in Yusen Logistics CyberLogitec announced that SaaS-based OPUS D&D (Demurrage & Detention) had been implemented in Yusen Logistics. Yusen Logistics initially launched the OPUS D&D service in the United Kingdom in April 2022 and has since expanded its availability to 19 countries, including the United States, European nations and China. Additionally, there are plans to further extend the service to Southeast Asia. O
Hapag-Lloyd increases FAK rates between Far East and Europe Hapag Lloyd announced an increase in Freight All Kinds (FAK) rates between the Far East and North Europe, as well as the Mediterranean. For sailings beginning on 1 December 2023, the following updated rates will apply to cargo transported in 20' and 40' dry containers, including high cube equipment, and reefers. Far East Westbound to Destination 20' Dry 40' Dry 40' HC 20' RF 40' RF North Europe U
GSBN and ZAN launch eBL collaboration Global Shipping Business Network (GSBN), a consortium enabling efficient, paperless and sustainable growth in global trade with its data infrastructure and ecosystem of partners, has signed a Memorandum of Understanding (MoU) with ZAN to explore technical innovations for tokenising the electronic Bill of Lading (eBL) with the support of Hong Kong's Web3 environment. As a technology division under
Patrick Terminals to introduce container management solution Patrick Terminals and OneStop announced the introduction of OptiBook, a container management solution integrated with the OneStop Vehicle Booking System. OptiBook is going to provide Patrick Terminals' customers with enhanced visibility of container status, expedited access to available containers, and an improved slot booking process. Additionally, the new system will facilitate more efficient t
CBER removal adds to market uncertainty The removal of the Consortia Block Exemption Regulation (CBER), while providing a threshold of 30% to continue operating alliances, leaves liner operators vulnerable to gaps in the interpretation of the rules. Lars Jensen, founding CEO of liner shipping consultancy Vespucci Maritime, made this opinion in his latest commentary for the Baltic Exchange. He said, "The abolition of CBER will not prohi
Port of Long Beach receives federal grant for infrastructure upgrade The US Department of Transportation announced a US$52.6 million grant for the modernisation of on-dock rail capabilities and repairment of numerous major highways targeted at increasing cargo movement through the Port of Long Beach. The grant will cover the addition of a track along the Dominguez Channel Railroad Bridge, easing a rail bottleneck, as part of the Maritime Administration's Port Infr
Port of New York and New Jersey handles over 660,500 TEUs in September The Port of New York and New Jersey handled 660,553 TEUs in September, a 21.6% decrease from the same month last year. This takes the total volume for the year through September at the US port to 5,789,116 TEUs. "The numbers reflect a resetting of cargo volumes following record setting years in 2021 and 2022," said the port in a statement. In addition, imports fell 19.9% in September compared to
CMA CGM applies new FAK rates from Asia to Med and North Africa Marseille-based container line CMA CGM has announced new Freight All Kinds (FAK) rates from all Asian main ports to all Mediterranean base ports (areas mentioned below). The following rates will apply to dry, out of gauge (OOG), paying empties and reefer cargo beginning on 1 December: 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$1,600 US$
New managing director for PIL China PIL announced the retirement of Klaus Ku, managing director of PIL China, who has served the company for around 30 years. Anderson Luo, who previously worked for Maersk, will succeed Klaus Ku as managing director of PIL China. "With 20 years of track record in senior management responsibilities, Anderson brings with him a wealth of experience and a solid understanding of China's shipping market,
HHLA backs MSC deal Mediterranean Shipping Co (MSC) has secured further blessings for its entry into Hamburg port. The Aponte family-controlled world's largest containerline and the city of Hamburg recently reached an agreement to run Hamburger Hafen und Logistik (HHLA) as a joint venture, in which MSC will own 49.9% by buying all of HHLA's free-floating stock at €16.75 ...
New Fortress Energy charters FSRU for Brazilian LNG import terminal US-based LNG player New Fortress Energy has executed a definitive agreement to charter the floating storage and regasification unit (FSRU) from Petrobras starting in December 2023. The FSRU will immediately be deployed to Terminal Gas Sul (TGS), NFE's newest LNG import terminal in Santa Catarina, Brazil, which will start commercial operations ahead of schedule in ...
Carlo Luzzatto to take over from Ugo Salerno as CEO of RINA Italian classification society has appointed Carlo Luzzatto as its next chief executive officer and general director, taking over from Ugo Salerno after more than 20 years at the helm of the Genoa-headquartered multinational. The appointment is set to be formalised by the end of 2023, coinciding with Fondo Italiano d'Investimento's acquisition of a minority stake ...
Dockworkers union warns of possible US East and Gulf Coast strikes next year The president of the International Longshoremen's Association (ILA) which represents over 70,000 dockworkers on the east coast of the US and Canada, the Gulf Coast, the Great Lakes, Puerto Rico and inland waterways, has warned of a possible strike next year if the union doesn't reach a deal with employers. Earlier this year, the union's ...
Densay takes second cape Kassian Maritime has sold a 2007-built capesize named Satori. The 177,000 dwt, Mitsui-built vessel fetched $18.5m with brokers linking Turkish outfit Densay Shipping to the deal. If confirmed, this will be Densay's second cape. The price is firm as the ship is sold on the basis of a drydock due in January. The deal is ...
Antonio Cosulich's funeral takes place in Genoa today The funeral of one of the most famous names in bunkering takes place this morning in Genoa. Captain Antonio Cosulich, the former chairman of the Fratelli Cosulich Group, passed away last week. He joined the Italian group in the late 1960s. At the time, the group solely served as an agency, catering, and manning provider ...
Biden administration earmarks $653m for port development across the US The US Department of Transportation's Maritime Administration (MARAD) has announced over $653m to fund 41 port improvement projects across the nation under the Port Infrastructure Development Program (PIDP). These investments are part of the largest dedicated funding for ports and waterways in American history - nearly $17bn through the Bipartisan Infrastructure Law. It comes after ...
Davie completes acquisition of Helsinki Shipyard Quebec-based Group Davie has finalised the acquisition of the assets of Finland's Helsinki Shipyard. Group Davie is part of the Inocea Group. It owns Davie Shipbuilding, Canada's largest shipbuilder. While the details of the business purchase agreement are confidential, the transaction was made possible by a combination of Davie's own funds and by €77m ($82.7m) ...
ONE seals terminal acquisitions in California and Rotterdam Japanese liner Ocean Network Express (ONE) has obtained all necessary regulatory approvals and completed its acquisition of a 51% stake in each of TraPac and Yusen Terminals on the US west coast, and a 20% stake in Rotterdam World Gateway (RWG). TraPac and Yusen Terminals are container terminal operators and vessel stevedores that provide container ...
OSG interested in CO2 carrier trade US-listed OSG reports its strongest earnings per share in more than three years amid strong refining margins and robust international...
Wärtsilä to divest gas processing business in restructuring Finnish engine maker Wärtsilä is selling off its gas solutions business and will slim down its reporting segments to simplify...
Arkas sells 27-year-old boxship for Turkish recycling Two containerships, including the Arkas-controlled small feeder Casablanca A, and a pair of panamax bulkers have been sold for scrap...
Shipowners shift antitrust campaign to UK after EU loss Having lost the fight in Europe to retain the shipping industry's long-running block exemption regulation, shipowners are focusing their efforts...
Iskenderun port recovers from earthquake The containership terminal at Iskenderun sustained signifcant damage in February following two earthquakes and a subsequent fire
The week in charts: Dark fleet consolidates Russian oil shipments dominance | Reward outweighs risk for Ukraine's Danube traders | Box spot rates hold Non-domestic arrivals to Israel slow as security risks rise, fewer tankers are shipping under the G7 cap, and boxship charter...
New EU sanctions expected to tighten price cap and target vessels EU Commission President Ursula von der Leyen confirms that oil price cap measures will be tightened and circumvention tactics targeted...
ShipIn keeps AI on performance tracking at sea Osher Perry, ShipIn founder and chief executive, argues the benefits of using artificial intelligence to analyse CCTV footage from cameras...
The week in newbuildings: Multi-purpose vessel orderbook gets a boost The orderbook for multi-purpose vessels of below 12,500 dwt is starting to grow as shipowners face an ageing fleet and...
Container trade points away from nearshoring There is evidence to suggest that rather relocating entire supply chains, companies are only selectively nearshoring certain items or components...
Russia 'aims' overnight attack at Odesa port Warehouses, equipment and trucks loaded with grain were damaged in the Odesa area while five people were injured
Gard members to get cashback exceeding premium hike twice over Going rate seems to be established for impending renewal round
NYK Line quarterly profits plummet, following Japanese shipping rivals Full fiscal year net profits until March 2024 are projected to be ¥220bn, a 78.2% decline from the actual gains...
Daily Briefing Maersk battens down the hatches in expectation of long slump | Maersk cuts workforce by 10,000 as earnings turn negative...
ONE completes buy-out of stakes in US and Rotterdam terminals With the three acquisitions, ONE has established a presence at key strategic locations - the US west coast, Northern Europe...
Carrier consolidation, NVO competition weigh on shipper association growth Shipper associations that struggled to grow during the COVID-19 pandemic because there was no extra capacity to sell are now trying to convince shippers of the benefits of rate stability.
Global ro/ro carriers take steps to boost fire safety Although there is little evidence that EVs are a greater fire hazard aboard ro/ro ships than traditional internal combustion vehicles, carriers are ramping up their safety measures.
Hamburg terminal operator HHLA accepts MSC's offer for ownership stake While the carrier will not hold the controlling share, expanding its presence in Hamburg will cement MSC's terminal operating position in Europe's third-largest container shipping port.
ONE finalizes terminal deals in Los Angeles, Oakland, Rotterdam The Singapore-based carrier has now expanded its access to capacity in the strategic locations of the US West Coast, North Europe and Southeast Asia.
ILA's Daggett raises possibility of 2024 strike at US East, Gulf coast ports Ahead of an International Longshoremen's Association conference, president Harold Daggett has warned union rank-and-file to be prepared for the "possibility of a coast-wide strike."
DHT Holdings' year-end fixtures keep rising after in-line third quarter VLCC spot numbers up robustly in less than a month and ahead of peers
Podcast: The two Os that can help shipping cut greenhouse gas emissions now Audio edition of Green Seas talks to Cargill's Eman Abdalla and Alpha Ori's Rajesh Unni about operational efficiency and optimisation
Ugo Salerno stepping down as RINA's boss after two decades in the hot seat Carlo Luzzatto to assume role of CEO as Italian classification society steers towards stock exchange listing
OSG improves earnings as it fixes fewer vessels but trims costs Lower expenses help usher in higher third-quarter profit
US lawmakers back tougher sanctions on Iranian shipping Questions remain over effectiveness of legislation which still needs Senate and presidential backing
New Fortress inks FSRU charter for delayed Brazilian terminal Company's shipping arm Energos Infrastructure to sub-charter Brazil's regas stalwart from Petrobras
Footage shows Russian cargo ship severely damaged after rocky grounding Inspection off Murmansk shows mangled hull bottom of the Aleksander Gusev
Spot rates for modern LNG carriers shift into $200,000 per day gear, again World worries heat up charter market across all types of vessels but winter has yet to make presence felt
Wallenius Wilhelmsen on the hunt for biofuels in Asia with South Korea trial run World's largest car carrier owner said it would begin using the fuels this year
Winter is coming: German ice-class tanker trio finds eager buyers Hamburg-based CST is linked to a $54m deal for three MR product tankers built in 2006
Wartsila selling shipping gas solutions unit as part of latest restructuring Finnish engine and systems giant wants to further simplify its organisation and reporting set-up
Big-name offshore shipbrokers hunt for new talent as activity spikes Brokers are returning to an improved market after a wave of consolidation among shops
Special report: Greece defiant amid adversity Our latest business focus delves into the world of Greek shipping, featuring a series of articles by Harry Papachristou. You can access these articles through the links provided below
Clarksons tips Norden for 'strategic acquisitions' with $700m war chest Analysts believe owner-operator is showing a 'pronounced' interest in expansion
Newbuilding prices diverge from earnings as they approach 2008 record, Clarksons says Analyst Trevor Crowe crunches the numbers as shipyards demand more and more money for new ships
IMO's Kitack Lim urges shipping stakeholders to strive for seafarer safety Decarbonisation and the adoption of new technologies could not happen without the contributions made by seafarers, says IMO boss
DNB raises VLGC demand forecast but owners 'not out of the woods' on deliveries Norwegian analysts believe pace of new additions to fleet is about to pick up
Tight tanker market holds firm amid continued Saudi and Russia supply cuts Saudi Arabia said the continued cuts were aimed at supporting the stability and balance of oil markets
Gard raises its cash back deal for renewing members Largest P&I club also says it needs to increase rates because of inflation
Gasum supplies LNG cargo to Finland's FSRU amid 'challenging situation' Inkoo terminal to be kitted out to offload into LNG bunker vessels
JP Morgan kicks off fleet renewal for subsidiary NOCC with car carrier orders US bank took full control of Norwegian operator earlier this year
'Who knows?': Dorian LPG's Hadjipateras says future of VLGC Panama Canal transits uncertain US owner looking at sending ships via other routes as waterway continues to reduce crossing slots
Gard raises annual refund for renewing P&I policy members Largest club also says it needs to increase rates because of inflation
Oil Brokerage makes a bold move into US market with strategic raid James McNicol-led firm makes good on promise by striking prominent American shop
Davie acquires Helsinki Shipyard from Russia's Algador with help from Canadian government Canadian firm signs 50-year lease with city of Helsinki
Thenamaris raises $55.7m from first-ever gas carrier sale Soaring market for LPG carriers encourages Greek owner to dispose of a six-year-old vessel
Oil Brokerage takes big step in securing US brokerage presence James McNicol-led firm makes good on promise by raiding prominent American shop
Chinese panamaxes help revive struggling Indian subcontinent ship recycling sector Smaller ships get the heave-ho while shipowners hold on to bigger tonnage as they wait for scrap prices to rise
Ratified: Labour deal between St Lawrence Seaway union workers and employers Unifor members get annual pay hikes and $2,000 signing bonus
'Extraordinary' Italian shipowner Antonio Cosulich dies aged 84 Funeral of former Fratelli Cosulich chairman being held on Monday
George Economou raises newcastlemax bulk carrier wager to eight newbuildings Major Greek owner is listed with a diversified newbuilding fleet of more than 30 ships worth over $3bn
NYK Line's first half profit slashed by over 80% on liner weakness Japanese liner giant says it has been hit by weaker liner demand and an increase in the size of the fleet
Chinese panamaxes help revive struggling Subcontinent ship recycling sector Smaller ships get the heave-ho while shipowners still hold on to bigger ships as they wait for scrap prices to rise
Biden administration pumps $650m into US port upgrades Awards include funding for 26 small ports to improve and expand their capacity
Air Transport Services Group dumps Corrado, names Hete CEO Air Transport Services Group's underperformance cost CEO Rich Corrado his job on Monday.
UPS reduces pilot head count by nearly 200 with buyouts UPS has bought out a small contingent of senior pilots. An American Airlines regional partner is trying to attract them to fly small jets.
Crippling port strike could hit 1 month before presidential election The union representing East and Gulf Coast dockworkers warned members to prepare for a possible strike starting Oct. 1, 2024.
FedEx tells pilots to switch to American Airlines feeder operator FedEx pilots are experiencing significant pay decreases because there isn't enough flying to go around. The company is pushing cockpit crews to take jobs at a regional passenger airline.
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