More operators look to refurbish hopper barges As steel prices hover around record high rates, barge operators are facing tough decisions. Recently, Belle Chasse, La., based C&C Marine and Repair, LLC signed a contract to re-side over 200 hopper
New AOWFA legislation aims to close offshore energy Jones Act loophole The Offshore Marine Service Association (OMSA) is applauding the introduction of the American Offshore Worker Fairness Act (AOWFA), saying, "this important legislation provides a step forward towards providing parity between U.S.-flagged and
Hornbeck to complete construction of two 400 class Jones Act MPSVs Covington, La., headquartered Hornbeck Offshore Services Inc. is to complete the two multi-purpose support vessels (MPSVs) that had been at the center of its recently settled lawsuit with Gulf Island Fabrication Inc.
OneStop and ACFS Port Logistics forge alliance OneStop partners with ACFS Port Logistics, a very well known company in Australia's transport, warehousing, and freight logistics sector. This two companies are committed to pioneering cutting-edge solutions that not only optimise container movements across the Oceania region, but also bring an unparalleled level of visibility for all supply chain participants to not only reduce costs but also pr
Helsinki and Tallinn ports, cities and ferry companies collaborate on green projects Spokespersons from both sides of the Gulf of Finland signed a Green Corridor MoU (Memorandum of Understanding) in order to ensure and speed up the establishment of a climate-neutral customer experience and marine green corridor linking Helsinki - Tallinn and Vuosaari - Muuga connections. This Green Corridor is a shipping route as well as an umbrella for many projects at sea and on land in Helsink
OOCL sees huge decrease in revenues amid container volume growth Orient Overseas Container Line's (OOCL's) total revenues declined by 65% in the third quarter of the year to US$1.76 billion, while the carrier's total liftings grew by 6.7% to 1.86 million TEUs. The company's loadable capacity climbed by 13.6% in the same period, compared with the third quarter of 2022. "When compared to the third quarter of the previous year, the average revenue per TEU fell by
Pearl River Delta ports take precautions against Typhoon Koinu Ports in the Pearl River Delta stopped accepting containers as China's National Meteorological Center issued a yellow alert for Typhoon Koinu. Modern Terminals, which owns and operates terminals in Hong Kong, Shenzhen and Taicang, stopped delivering and collecting less-than-container-load cargoes yesterday (8 October) as Hong Kong issued Storm Signal Number 9. Hutchison Ports' Yantian Internation
TT Club appoints new regional general manager for Asia-Pacific Kamel Tlili is the new regional general manager in the Asia-Pacific region for international freight and logistics insurer, TT Club. Tlili joins TT after a six years leading British Marine's P&I Underwriting Division in Asia at QBE. During this time, he focused on the strategic development and diversification of the portfolio and was pivotal in the transformation of British Marine's presence with
Unmanned drone mission to Lithuanian coast completed During the drone mission lasting for more than three months, the Baltic Sea coast of Lithuania and the waters of the Klaipeda port were monitored and 140 ships were examined for the quality of exhaust gases. In particular, such possibility was provided by the European Maritime Safety Agency (EMSA), and the mission itself was led by national institutions, including the Environmental Protection Dep
APM Terminals reports renewable electricity progress APM Terminals has reached 40% in its ambition to run all global terminals on renewable electricity. The company's head of decarbonisation, Sahar Rashidbeigi said "there is still more to come" and that "her team has several projects that will kick in the coming months". Last year, Maersk-owned port and terminal operator announced its ambition to be fully carbon neutral by 2040. To get there, it wi
Sallaum Lines announces new service and welcomes new head of strategy and business development Sallaum Lines has announced the launch of a new monthly service route connecting Europe to the United States. In particular, this service will operate monthly, with key loading ports in Bremerhaven (Germany), Antwerp (Belgium), and Southampton (UK) and discharge US ports in Freeport, Jacksonville, Baltimore and Newark, catering to a wide range of client requirements. "The introduction of this new
Port of Oakland joins environmental non-profit Green Marine Green Marine certified the Port of Oakland this week through its environmental programme. The certification process supports the Californian port's transition to zero emissions operations. The Port of Oakland doubled down on its commitment to the environment by joining Green Marine earlier this year. Green Marine is a non-profit organisation established in Canada and the United States committed t
ABP signs deal to explore opportunities in Scotland to support green energy Associated British Ports (ABP) has announced a deal to investigate an area for the development of infrastructure to support offshore wind (OSW) manufacturing, assembly and marshalling and green energy on the Cromarty Firth in Scotland, within the Inverness and Cromarty Firth Green Freeport (the Green Freeport). According to ABP, the area lies within the proposed Nigg and Pitcalzean area of the Gr
Global bunker indices show minor fluctuations The MABUX global bunker indices experienced some minor fluctuations in the last week. The 380 HSFO index rose by US$8.46, the VLSFO index lost US$5.65, while the MGO index increased by US$9.18. "At the time of writing, the market was generally following a slight downward trend," pointed out a MABUX official. Global Scrubber Spread (SS) - the price difference between 380 HSFO and VLSFO - continued
Diana Shipping sheds capesize for $18m Greek bulker owner Diana Shipping has signed a memorandum of agreement to sell one of its vessels to an undisclosed owner. The New York-listed company said that it sold its 2007-built capsize to an unaffiliated third party. According to Diana Shipping, the delivery to the buyer will be done by December 20, 2023, at the ...
UniSea expands with drydocking software company buy Norwegian software and consultancy house UniSea has added Maindeck, a Norwegian portal designed to simplify the complex process of drydocking, to its portfolio. "We're thrilled to announce that Maindeck is now a part of the UniSea family! This is a testament to the strides Maindeck has made since its inception and the potential our platform ...
Himalaya Shipping fixes newbuilding pair on two-year deals Tor Olav Troim-backed Himalaya Shipping has entered into time charter agreements for two vessels with an undisclosed client. The vessels will begin a 24-month time charter with an evergreen structure upon delivery from New Times Shipyard in the first half of 2024. The client is unknown but was described as a "major commodity trading company." ...
Safe Bulkers snaps up dual-fuelled kamsarmax newbuild tandem New York-listed Greek dry bulk owner Safe Bulkers has entered into contracts for the acquisition of two dual-fuelled kamsarmax class dry-bulk vessels. Safe Bulkers did not reveal the financial details of the deal it did say that the two 81,200 dwt bulkers were bought for 'attractive prices' with scheduled delivery dates in the fourth quarter ...
Kristian Mørch and Nicholas Lykiardopulo move to take control of BW Epic Kosan Gas ship operator BW Epic Kosan is to be privatised with Web Holding, a company controlled by Kristian Mørch-led J. Lauritzen and Greek shipowner Nicholas Lykiardopulo, today making a voluntary unconditional offer of NOK24 ($2.20) per share to acquire all outstanding shares in the Oslo-listed shipowner. A key shareholder, Odfjell, has signalled its willingness to ...
China's oil demand seen weakening in 2024 China's oil demand next year - so vital to the fortunes of the global tanker trades - has been questioned. The People's Republic is by far the world's largest importer of crude oil, its thirst for the commodity reviving solidly throughout 2023 post-covid. The International Energy Agency (IEA) forecasts Chinese oil demand for 2023 to ...
Pelagic Partners enters offshore sector with Golden Energy stake buy Cyprus-based alternative investment fund Pelagic Partners has bought a 20% stake in Norwegian owner Golden Energy Offshore Services (GEOS). The investment in GEOS was made through its latest round of private placement led by GEOS' largest shareholder Oaktree Capital Management. Pelagic Partners acquired 95m shares to secure a 20% ownership stake and become the second ...
Reach Subsea acquires Australian marine survey firm Norwegian offshore services player Reach Subsea has entered into an agreement to acquire 100% of the shares of Australian marine survey company Guardian Geomatics. Reach Subsea said that the transaction is set to close in November 2023. The purchase consideration paid to selling shareholders will consist of approximately 16m new shares in Reach Subsea, plus ...
John Fredriksen and the Saverys family provide details on Euronav deal More details of the agreement the Saverys family has reached with John Fredriksen over the future of Euronav have been published. After a two-year battle for control of the Antwerp tanker giant, Famatown Finance, Fredriksen's finance vehicle, along with Frontline, his tanker firm, announced a deal with the Saverys-controlled Compagnie Maritime Belge (CMB) last week ...
McPEC Marine & Offshore Engineering becomes part of Kuok Maritime Singapore's Kuok Maritime Group (KMG), one of Southeast Asia's preeminent shipping empires with brands including Pacific Carriers, PACC Offshore Services Holdings, Pacific Workboats, and PaxOcean, has added another string to its bow. The group today revealed it has acquired engineering, procurement, construction, and commissioning services provider McPEC Marine & Offshore Engineering. McPEC has b
Simon Møkster finds work for vessel trio Norwegian shipowner Simon Møkster Shipping has won new charter deals for three of its vessels. Simon Møkster said that it won a deal from its compatriot DOF for the multi-purpose support vessel Stril Explorer. The charter is a bareboat with a three-year duration plus four annual options. According to a separate statement by DOF, the ...
Africa emerges as container bright spot A bright spot for container shipping in a challenging year has been Africa, something experts believe will be spurred on in the coming years by the creation of the African Continental Free Trade Area (AfCFTA), the world's largest free trade area. Containerised imports into Africa in the first seven months of this year grew by ...
Maersk presses ahead with Egyptian green methanol project Maersk's new green methanol-producing subsidiary C2X has inked a framework agreement worth up to $3bn with the Egyptian government to accelerate large-scale production of the fuel. In the presence of the Egyptian prime minister, C2X signed a framework agreement with its Egyptian sponsors and partners to build a green methanol plant near the Suez Canal. ...
Israel marine war risk rates set for tenfold jump from current low base 'Whenever it has kicked off there in the past, there has not been a big spike, because the northern ports...
J. Lauritzen and Nicholas Lykiardopulo set to take BW Epic Kosan private BW Group agrees deal that will see the Singapore-based gas carrier taken private by shareholders J. Lauritzen and Nicholas Lykiardopulo...
Euronav and Frontline offer two very different visions of the future Stick with us and support a diversified vision of the future, or sell your shares and go for a pure-play...
London Club brings first-half combined ratio below break-even mark Unspecified improvements to key benchmarks boost hopes for stability at UK-based marine mutual
Container volumes fail to match economic growth Demand is starting to recover from the lows of 2022. But growth remains anaemic compared with pre-pandemic levels and economic...
The week in charts: Slight uptick in box volumes | Iranian oil shipments | Methanol boxship orders hit 129 ships Ukraine and Russia-bound ships dominate detentions and port bans and liner operators are continuing to trade ageing boxships long past...
Procopiou: EU regulations on shipping 'just bullshit' Greek shipowner George Procopiou calls EU regulations 'a complete waste of time' a day after Cyprus named him its shipping...
Evergreen forecasts weaker market after 8% revenue growth in Q3 Hsieh Huey-Chuan warned performance would be weaker in the fourth quarter of 2023
Israel-Hamas conflict: 'Minimal' impact to commercial shipping, but threat assessment ongoing Inbound and outbound voyages to Israeli ports nearly halved on Saturday, although not to unprecedented levels. Trade flow resumed to...
Icebreaker designer looks to biodiesel and green methanol to decarbonise Finnish ship designer Aker Arctic says icebreaker owners are leaning towards biodiesel and e-methanol as their future fuels of choice...
Israel-Hamas strife set to add fuel to already 'tight' tanker market Hopes for expanded supply are being dampened from Iran, as well as Saudi Arabia and Russia, Arctic argued. Pump prices...
India leads rising demand for oil in Opec outlook Opec puts forward two scenarios, one that sees technology playing a part in limiting the global temperature increase, and another...
EU needs a maritime commissioner, Cyprus president argues The president of Cyprus says the EU should have a dedicated maritime commissioner to combat what he called a fragmentation...
Rate hikes may cool tanker demand as China wildcard looms China is adding another layer of uncertainty as crude imports may slow next year amid unclear growth prospects
Kongsberg focuses on Gen Z as skills shortage bites Kongsberg Maritime President Lisa Haugan is figuring out how to attract the right skillsets to get decarbonisation over the line
US trucking jobs shrank last month, but far less than expected Motor carriers may be concerned that in what is still a tight job market, any employees who are let go temporarily would not be available when demand rises again.
Norfolk Southern ramping up services to West Coast in operational shift US exporters had limited options to send westbound freight in recent years under precision scheduled railroading, but railroads are beginning to restore some services in a bid to improve relations with shippers.
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 owing to an east-west imbalance in rail equipment that has worsened in recent weeks.
Estes restoring critical IT systems following cyberattack The fourth-largest US less-than-truckload carrier said it had restored many of its core systems by Sunday, while continuing to pick up and deliver freight despite a week of disruption.
OOCL bucks trans-Pac trend with sharp rise in Q3 volume, but revenue slumps The Cosco subsidiary reported mostly positive volume metrics for both the third quarter and nine months through September, although revenues were down sharply.
Hornbeck Offshore resolves legal spat with Louisiana yard and proceeds with MPSVs
Diana Shipping sells capesize as sale-and-purchase market warms up Sale follows order of two methanol dual-fuelled bulkers
Fredriksen played key role in Frontline-Euronav deal, says Lars Barstad Tycoon was 'very involved' in transaction, Frontline head says
Star Bulk reports improved environmental performance for 2022 Major player becomes first Greek-based bulker owner to estimate and disclose Scope 3 emissions
'Sanctions make the sanctioned stronger,' major shipowners warn from Cyprus Owners from Europe's south complain their continent often pursues navel-gazing and self-defeating policies
Japan's regional banks sign up to the Poseidon Principles Three banks based in the west of the country announce their participation on the same day
Hannaford Turner recruits shipping litigator Robert Pollock-Hill as partner London lawyer making the switch from Rosling King
Evangelos Marinakis' Capital Gas charters out LNG duo and makes fresh secondhand buy Charter deal in the making for months finally materialises
Himalaya Shipping fixes two more newcastlemax bulkers out on charter Almost all of Himalaya's fleet have employment lined up for after delivery
German shipowners ink deals worth $120m for four multipurpose vessels in China Krey and Auerbach make newbuilding move with two vessels apiece
Greece's Spring Marine opts for SulNOx additive to cut fuel use on tankers and bulkers Owner aiming for incremental improvements in efficiency
Marinakis' Capital Gas charters out LNG duo and makes fresh secondhand buy Deal in making for months finally materialises
Here's how InterManager is weeding out the cowboys in ship management Self-assessments and third-party audits of ship managers will raise standards and grow the market
Podcast: Vehicle shipping's drive towards alternative fuels The audio edition of Green Seas explores the orderbook and alternative fuels for PCTCs
MTR signs digital training deal for 90 Oldendorff Carriers bulkers Global training organisation will provide online packages for German owner
Oil price surges amid fears of wider Middle East crisis Attack by Iran-backed Hamas group sparks speculation about impact on booming Iranian trade
MPC Container Ships reportedly selling feeder vessel as fleet renewal continues Greece's Contships Management linked to acquisition of 14-year-old container ship
Oil price surges amid fears of wider Middle East oil crisis Attack by Iran-backed Hamas group sparks speculation about impact on booming Iranian trade
Dorian LPG hands over another $41m to shareholders after record rate run US-listed VLGC owner keeps capital returns coming in hot markets
Pelagic Partners buys 20% stake in Golden Energy Offshore Services Private placement of shares was led by offshore owner's largest shareholder, Oaktree Capital Management
BW Epic Kosan heading private in takeover deal with J Lauritzen and Nicholas Lykiardopulo BW Group agrees to take shares in new company that will delist the LPG carrier owner in Oslo
Sohmen-Pao cashing out of BW Epic Kosan in takeover deal with J Lauritzen and Nicholas Lykiardopulo BW Group agrees to sell 41% stake as new owners target delisting of shares
CoolCo, MOL and Shell set to lead methane measurement kit trials Methane Abatement in Maritime Innovation Initiative names first two technology providers
Kuok Maritime Group buys offshore module fabricator McPEC Shipping group says deal enables it to expand presence in the global modular construction market
Major award for Greek magnate Procopiou as Cyprus seeks to boost shrinking registry Major Greek shipowner declared Cyprus shipping personality of the year for backing the island's flag
Euronav to retain dual listings and could buy part or all of CMB's eco fleet Saverys family outlines strategy for Belgian tanker company after sale of VLCCs to Frontline
'Maximum security' warning issued to shipowners as Mideast violence spreads Industry concerns focus on potential widening of the conflict to Israel's north
Frontline becomes biggest pure-play listed tanker owner as Fredriksen signs off Euronav VLCC deal Vessels have an average age of 5.3 years
'Higher for longer' interest rates may hurt tanker rally, warns Gibson Broker says stronger US dollar makes crude more expensive for non-US buyers, impacting demand
Suezmax tanker accused of being part of the dark fleet sold for recycling Alana sale is first suezmax demolition deal struck for 2023
Higher for longer interest rates may hurt tanker rally, warns Gibson Broker says stronger US dollar makes crude more expensive for non-US buyers, impacting demand
Stolt-Nielsen's Udo Lange explains why he had to take CEO job Norwegian group's new boss tells analysts how the switch from logistics was a compelling prospect
Marinakis looks to refocus Capital Product on LNG carriers Selling off New York-listed company's assets is not part of the plan
Columbia '2.0' will reboot firm for the decade ahead Integrated maritime services provider takes a hard look at how its business will look in the near future
The good times roll, but Swire Bulk's Peter Norborg knows they won't last forever The leaner Singapore outfit has sold 11 handysizes in the past two years
SGX targets shipping with new ammonia futures contracts Fuel has the potential to play a key role as an alternative power source for the maritime industry, says SGX
FedEx, UPS suspend freighter flights to Israel FedEx and UPS have paused flights to Israel, while DHL continues to operate to the capital city of Tel Aviv.
Air Transport Services Group to lease 1st freighters in Bangladesh U.S. freighter lessor ATSG makes its first sale in Bangladesh.
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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