Administration moves ahead on $4 billion clean ports plan The U.S. Environmental Protection Agency (EPA) is taking the initial steps on the development of programs that will invest $4 billion from the Inflation Reduction Act in U.S. port infrastructure. The Clean
Seatrium books two Empire Wind offshore substation platform contracts Singapore-headquartered Seatrium Limited reports that its Sembcorp Marine Offshore Platforms Pte. Ltd. (SMOP) subsidiary has been awarded a contract by Empire Offshore Wind LLC worth more than SGD 500 million (about US$378
Scrap metal barge fire brings warning on lithium-ion battery dangers The National Transportation Safety Board said Thursday that lithium-ion batteries and other possible ignition sources could pose a fire safety issue in the transportation of scrap materials as cargo. The warning comes
Contaminated fuel caused WSF ferry grounding A little more than two weeks after running aground in Rich Passage, the Washington State Ferries (WSF) Jumbo-class ferry Walla Walla returned to service May 3 on the Seattle/Bremerton route. WSF says
Ship Repair USA: What's important and what's not on ship repair contracts? The many vessels that traverse U.S. waters-both inland and coastal-require significant financial investment at the time of construction and during their lifecycles. The contracts that govern the construction and subsequent maintenance and
Port of Virginia partners with ElectroTempo ElectroTempo, a software company for electric fleet charging networks, announced a strategic agreement with the Port of Virginia, one of North America's largest container ports. The Port of Virginia's engagement with ElectroTempo will assist in optimising vehicle electrification projects across various situations, increasing energy efficiency, lowering emissions, and driving down costs. The Port
Maersk opens new W&D facility in South Africa Maersk inaugurates a new 10,000 m² bonded warehousing & distribution (W&D) facility in Cape Town, South Africa. The new W&D facility has an open yard space of 3,500 m². Additionally, the facility has over 85% area covered with racking providing for 7,000 pallet locations. The warehouse has access to the strategic Belcon rail siding at under 5 kilometres, Port of Cape Town at 22 kilometres, and fa
MSC enhances intra-Asia service network MSC has decided to strengthen its intra-Asia network aiming to provide new direct connections, as well as improved transit times and increased capacity. The following upgraded services will come into effect in June 2023. MSC announced it will improve its Seagull service to directly connect central China with Indonesia, as well as Vietnam and Thailand with Shekou. Additionally, MSC's Seahorse serv
Port of Virginia invests over US$140 million in automated cranes Konecranes will supply the Port of Virginia with 36 Automated Stacking Cranes (ASCs) as part of a significant capacity expansion investment and as part of the port's continued efforts to increase operational efficiency, capacity, and competitiveness in the global shipping industry. The order is worth more than US$143 million and will be completed in the second quarter of 2023. The new equipment w
Port of Salalah marks new general cargo handling record Oman's Port of Salalah in the Middle East achieved a new record in 2022, handling 18.5 million metric tons of general cargo. APM Terminals, which operates the port, said that in January this year, the trend continued with the port handling 1.9 million metric tons of general cargo, the highest volume in any month since the terminal became operational. In the first quarter of 2023, the Port of Sala
MSC announces terminal change on Southeast Asia to USWC service MSC intends to modify its Sentosa service's port rotation, beginning in June 2023. The Swiss/Italian container carrier said the service will alternate calls between Los Angeles WBCT and Long Beach TTI on a fortnightly basis. The first vessel on this new rotation will be the 5,059 TEU MSC Lisa, which is scheduled to arrive in Los Angeles WBCT on 1 June 2023. The second ship, MSC Ornella, is schedu
Egyptian ferry operator enters container segment with newbuilding pair Egyptian ferry operator Alkahera Company for Ferries & Maritime Transport has entered the container shipping segment with orders for two general cargo ships at Dae Sun Shipbuilding & Engineering in South Korea. Each of the 18,000 dwt ships has a capacity for 700 TEUs of dry containers and 98 TEUs of reefers; delivery is expected in early 2025. Dae Sun, which announced the order on 30 April, state
Seafarers report decline in happiness levels A decline in overall happiness levels of seafarers during the first three months of the year is reported by The Mission to Seafarers. The survey, which captures seafarers' sentiments worldwide across a wide range of welfare issues, shows a fall from 7.69 to 7.1 out of 10, compared to the fourth quarter of 2022. Revd Canon Andrew Wright, secretary general of The Mission to Seafarers, commented, "W
Adani sells Myanmar Port for US$30 million Adani Ports and Special Economic Zone Ltd (APSEZ), an integrated transport utility in India and a part of the diversified Adani Group, has completed the Myanmar Port sale for a total consideration of US$30 million. Earlier, in May 2022, APSEZ announced the signing of a Share Purchase Agreement (SPA) for the sale of its Myanmar Port. The SPA had certain Condition Precedents (CPs), including comple
Nexans signs record $1.87bn offshore wind contract Paris-based cabling firm Nexans has sealed a frame agreement with Dutch-German transmission system operator TenneT for three grid projects, connecting the future offshore wind farms BalWin 3, LanWin 4, LanWin 2, in the German North Sea to the mainland. The company said the largest contract in its history is worth €1.7bn ($1.87bn), with major subcontracted ...
COSCO offloads cape at the second attempt COSCO has sold a cape at a second attempt continuing an active year for the Chinese state-owned giant with a string of vintage sales. This time it's selling a vintage cape to Dubai's Lila Global, the shipowning arm of recycler GMS. In mid-March, COSCO attempted to sell the 2006-built , built at IHI Marine ...
Seafarer happiness levels fall The Mission to Seafarers has published the latest Seafarers Happiness Index report for Q1 2023, revealing a decline in overall happiness levels among seafarers during the first three months of the year. The survey, which captures seafarers' sentiments worldwide across a wide range of welfare issues, shows a fall from 7.69 to 7.1 out of ...
Adani offloads Myanmar port India's Adani Ports and Special Economic Zone Ltd (APSEZ) has exited the Myanmar market, finding a buyer to stump up $30m for its facility in Yangon. Adani Yangon International Terminal has an annual handling capacity of 800,000 teu and 3.5m tonnes of bulk cargo. The buyer, Solar Energy, was able to negotiate a significantly lower ...
PDVSA's tanker fleet in urgent need of overhaul The Venezuelan tanker fleet is largely not fit for trading, internal documents seen by Reuters show. More than half of the 22 tankers in state-run oil company PDVSA need urgent repairs or should not trade, according to an internal report by the oil firm. Venezuela's tanker fleet has been hobbled by sanctions for many years ...
Low Earth Orbit satellites and maritime satcoms disruption Columnist Santosh Patil on what Starling and OneWeb will bring to shipping. The recently held Singapore Maritime Week was expectedly heavy on tech and decarbonisation. A walk around the Sea Asia exhibition was not possible without noticing technology companies showcasing their wares and satcom providers too stood out with their well-appointed booths. The maritime satellite ...
International Seaways forecasts a 'robust' tanker market in 2023 'We are poised to benefit from their attractive charter rates, with added upside due to profit sharing above the base...
Greek owners grow share of Russian tanker trade Crude and refined products continue to flow from Russia under the price cap restrictions imposed by western governments
Large-scale ammonia cracking plant is safe for imports A large-scale ammonia cracking plant is a feasible way to pave the way for higher volumes of imports, as companies...
Greek shipping company to pay $2.25m for breaching US environmental law US Justice Department says chief engineer ordered crew members to illegally discharge about 9,500 gallons of bilge water, while captain...
Piracy and maritime crime incidents on the increase There has been a shift to armed robbery attacks against vessels in territorial waters, while hijackings and crew kidnappings have...
Eagle Bulk expects freight rates to improve after modest profit Chief executive Gary Vogel says US company is positive about the medium-term prospects for the dry bulk sector
Shipping is a target again just for doing its job When 53 seafarers can be taken hostage in the space of a week and it barely causes a ripple in...
Will decarbonisation and geopolitical uncertainty mean another crunch for vessel tonnage? In a market with subdued earnings and inflated asset values, spending twice the price of a secondhand ship to build...
China Merchants Group names ports chief Xiufeng as deputy president The appointment was approved at the conglomerate's recent board meeting.
The Lloyd's List Podcast: Can diversity-linked loans close shipping's gender gap? Navigator Gas chief executive Mads Peter Zacho is fully aware of shipping's shortcomings when it comes to gender diversity, but...
Daily Briefing Seized tanker linked to legal dispute over suspected Iranian cargo | Shipping needs 'joined-up thinking' to get close to net...
Seafarer survey shows a decline in satisfaction and happiness Seafarer Happiness Index is lower than levels recorded in the second and third quarter of last year
Matson expects 'improved trade dynamics' after substantial drop in earnings Demand should return to 'more normalised levels' later in the year, says chief executive
Evergreen pushed contracted cargo to spot market: FMC shipper complaint An automotive parts importer alleges that after Evergreen failed to provide approximately 65% of contracted vessel space, it had to pay $750,000 on the spot market to secure capacity.
Evergreen failed to offer contracted vessel space to shipper: FMC complaint An automotive parts importer alleges that after Evergreen failed to provide roughly 65% of contracted vessel space, it had to pay $750,000 on the spot market to secure capacity.
China to remain top for logistics investment despite regional sourcing shift Logistics and industrial investment in the Asia-Pacific region was estimated at about $50 billion last year, down from a record $72 billion in 2021.
Renewed focus on purchase order management leads to tech vs. service dilemma Tethering purchase order technology to operations can help expedite drastic decisions, but pure software vendors offer a level of neutrality that logistics providers can't.
NY-NJ terminals alter free time tariff as FMC rule on closed gates looms The rule changes will not have much of an initial cost impact on shippers as almost all New York-New Jersey terminals are closed on weekends and holidays, thereby not counting toward free time, and containers are now moving off the port faster.
Ex-Slync CEO indicted over alleged misappropriation of company cash The indictment also alleges Chris Kirchner attempted to cover up his financial activities and fired employees who raised questions about them.
Asian air cargo rates fall on rising capacity, cooling demand There are few signs of improvement in demand for air freight on major trade lanes out of Asia, while a steady increase in below-deck belly capacity is adding to the downward pressure on rate levels.
Then there were two: Ridgebury Tankers fetches profitable price for suezmax Connecticut owner is nearly done with fleet disposal programme after selling tanker for $45m
Eagle Bulk sees 'positive momentum' in supramaxes. 'But it's taking time' Very low orderbook and supply are helping market maintain upward trend
Broader market fears 'exaggerated' as DHT stock falls despite earnings hit Clarksons Securities believes VLCC owner's shares are a bargain with oil demand set to pick up
International Seaways shares rocket after big earnings beat, special dividend Shares jump 11% after owner tops analyst earnings expectations and guides to stronger fixtures
Marshall Islands brings new legal claim over seized VLCC Heroic Idun Flag state prepares case against Equatorial Guinea as tanker set for release after nine months
International Seaways shares the wealth with another special dividend New York owner tops analyst expectations with strong first-quarter, guides to stronger fixtures in current market
Rising finance costs eat into Capital Product Partners profit But LNG and container ship owner is still upbeat about its business
Editor's Selection: Maersk's profits plunge, Iran's latest ship grab and what's bugging Wallenius? Our weekly newsletter looks at some of the big stories in shipping
Broader market fears 'exaggerated' as DHT stock falls despite earnings hit Clarksons Securities believes VLCC owner's shares are a bargain with oil demand set to pick up
KCC's Engebret Dahm puts a price on new Cabus as fleet renewal looms CEO prioritising replacement of caustic soda combination carriers over more expensive and newer Cleanbus
Lila Global buys second capesize vessel in as many months Shipowning arm of cash buyer GMS focuses on big bulkers amid slow-burning but persistent market interest for such ships
Shipowners think PSV supply cut 'overdone' as ships converted back for oil and gas work Trend of vessels leaving the North Sea market is beginning to reverse, Seabrokers says
Hoegh Autoliners tipped to declare options for more of world's biggest car carriers Analysts believe four extra vessels will be firmed up this summer in China
South Korea's Fair Trade Commission greenlights Hanwha's DSME buyout New name is floated for world's fourth largest shipbuilder
Tokio Marine HCC revamps London team with new hire New marine chief underwriting officer appointed as insurer seeks further growth
Axel Eitzen's Christiania orders its biggest tankers in Japan Copenhagen-based owner heads to Murakami Hide for two new chemical ships
Petros Panagiotidis spin-off makes asset play with ex-Eletson tanker A window of opportunity has opened for some very lucrative tanker sales by newly-founded Toro Corp
Fire at South Korean plant threatens delays to LNG carrier newbuildings Insulation panel manufacturer Hankuk Carbon sees 25% of its production knocked out
Wavelength: Shipping awaits the starting gun for deepsea gold rush to begin Big maritime names are vying for space in the nascent industry but environmental concerns have yet to be allayed
Tanker salvage operation to press on despite appeal shortfall UN warns that FSO is at risk of exploding and leaking 1.1m barrels of oil
Former Edison Chouest PSV converted into world's first spaceport Ship is being turned into a floating launch pad for commercial space flights
KCC logs record profit but switch to tanker trades hits efficiency Norwegian owner prioritised wet cargoes over dry in the first quarter
HMM boosts product tanker fleet with Singapore raid South Korean owner adds modern vessel in deal with Pacific Carriers
France's Socatra orders two 'pricey' methanol-fuelled chemical tanker newbuildings in China Handysize IMO II/III chemical tankers ordered against charter contracts from TotalEnergies
Blackstone said to be considering sale of ship finance bank NIBC However, private equity firm may decide to keep bank and grow it through acquisitions.
Is the cruise market ripe for third-party ship management? Anglo-Eastern thinks so Scale of major Hong Kong ship manager powers growth ambitions after takeover of CMI
TW+ looks ahead: The big questions that loom over shipping's path forward To mark the 10 years since TradeWinds' TW+ magazine was first published, our reporters explored the uncertainties, challenges and opportunities that will shape shipping's future. Read all the stories below
Shipyards dust off facilities to meet huge fleet renewal demand Mothballed capacity is being brought back to life as contracting is forecast to rise
Demand slump bites Matson results, but profit drop is smaller than expected Retailers are conservatively managing inventories as economy remains uncertain, chief executive says
What will happen if Russia blocks Black Sea grain ships? The war has stoked fears of global shortfalls of wheat, corn and fertilizers, but the flexibility of shipping trades has limited the risk.
Ocean carriers: Keep rail storage fee disputes at STB Shippers want Congress to expand FMC's power over rail storage fees, but shipping lines say the power is already in the hands of the STB.
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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