L-ion battery explosion in hand-held radio causes $3 million tanker fire The thermal runaway of a cell within a handheld radio's lithium-ion battery led to a fire on the 106,000 dwt Liberian-flagged oil tanker S-Trust last year that resulted in $3 million in
Port pilot killed in Russian attack on merchant ship According to multiple reports, a Russian missile attack on a civilian vessel entering the port of Pivdennyi in Odesa yesterday saw the Ukrainian port pilot killed and injured crewmembers. Ukrainian national news
California legislator has a fix for the flaws in problematic CARB harbor craft regulations California state assemblymember Dr. Jasmeet Bains (D-Delano) is moving to rectify problems in California Air Resources Board (CARB) harbor craft regulations slammed as "unworkable" and "deeply flawed" by the American Waterways Operators
Gladding-Hearn delivers new pilot boat to Bermuda The Bermuda Government's Department of Marine and Port Services has taken delivery of a new Chesapeake class pilot boat from Gladding-Hearn Shipbuilding, Duclos Corporation. Delivery of the new pilot boat follows delivery
New order for Wärtsilä's Cargo Handling Systems for LPG carrier vessels Wärtsilä will provide Cargo Handling Systems for five new huge LPG carrier vessels being built at the Hyundai Heavy Industries (HHI) yard in South Korea. The order with Wärtsilä was placed in the third quarter of 2023. Solvang, a Norwegian ship owner, contracted for the ships in a joint venture with Gunvor Group Ltd in Geneva. The VLGCs are Panamax-sized vessels that represent the next generation
Jettainer and PACTL West ink a collaboration agreement Jettainer, an outsourced Unit Load Device (ULD) management firm, has entered into a strategic collaboration agreement with PACTL West, the ground handler for Shanghai Pudong International Airport Public Cargo Terminal Co. Ltd West. This announcement was made by the two firms during the Southeast Asia Transport Logistics conference. Jettainer will establish a new hub for its lease&fly ULD leasing
Varamar and COSCO Shipping form commercial partnership Varamar DMCC and ASL Shipping & Logistics, a COSCO Shipping group firm, established a strategic commercial cooperation to enable both companies to develop their respective trades. Varamar, a liner and tramp carrier specializing in breakbulk, dry-bulk, oversized, and containerized cargo, has historically concentrated on trade lanes linking Europe with the Middle East, Asia, and the Far East, as we
BNSF Railway implements Tideworks' Intermodal TOS Tideworks Technology®, a full-service provider of comprehensive terminal operating system (TOS) solutions, announced that BNSF Railway (BNSF), one of US largest freight railroad and one of North America's Class I railroads, has gone live with Tideworks Intermodal Pro® intermodal TOS and Traffic ControlTM equipment dispatch system at BNSF's Memphis facility. Intermodal Pro and Traffic Control will
2M dissolution shifts to Atlantic Dismantling the 2M alliance has focused on the transatlantic trade with Maersk and MSC dissolving the shared operations in two major loops, with a third jointly operated service already served by one carrier. Three major loops on the Atlantic, the TA/NEUATL 1,2 and 3 services, were jointly operated by the 2M alliance, however, the TA/NEUATL1 was operated by US-flagged vessels that were only deplo
APM Terminals new shipping line dashboard helps port stay reduction APM Terminals has already met its 2023 target of a 20% decrease in port stays compared to a baseline in 2021. The global port operator has already discovered hundreds of process changes to save time in port. "The biggest gains will come from companies who improve cooperation between shipping lines and terminals," stated Laura Bercan, responsible for Visibility Products at APM Terminals. "APM Term
Namsung offers reefer tracking with IoT solution South Korean feeder operator Namsung Shipping this week launched an Internet of Things (IoT)-based service to monitor and track refrigerated containers. The basic service enables shippers to check the movement of reefers and is targeted at customers with refrigerated cargoes passing through China and Indonesia, due to the vast hinterland in the former and the many islands in the latter. The premi
British and Taiwan port bodies sign offshore wind cooperation deal Associated British Ports (ABP) and Taiwan International Ports Corporation (TIPC) have formally agreed to collaborate signing a Memorandum of Understanding (MOU) at the Kaohsiung Port Cruise Terminal. The agreement is expected to facilitate the exchange of information and experiences between the two organisations regarding port facilities related to floating offshore wind (FLOW). Additionally, it
Wilson Sons terminals in Brazil handle increased box volumes Wilson Sons, a port and marine logistics provider in Brazil, reported a significant increase in container terminal volumes in October. Brazil's Rio Grande Container Terminal (RS) and Salvador Container Terminal (BA), which can handle some of the world's largest ships in the world, recorded a 26.5% increase in aggregated volumes last month compared to October 2022. According to Wilson Sons, a tota
Hapag-Lloyd sees lower revenues and earnings in 2023 9M Hapag-Lloyd ended the first nine months of the year with Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of US$4.5 billion and Earnings Before Interest and Taxes (EBIT) of US$3 billion, while the company's profit reached US$3.4 billion. Because of a major shift in market conditions, these results are much lower than the prior-year level, noted the German ocean carrier, who
Hapag-Lloyd applies PSS in Senegal, Tanzania and DR Congo Hapag-Lloyd has announced a new Peak Season Surcharge (PSS) from all origins into the ports of Dakar in Senegal, Dar es Salaam in Tanzania and Matadi in Democratic Republic of Congo. The surcharge will be in effect for all cargo arriving at the three ports from 22 November, excluding containers coming from North and Latin America, for which the surcharge will be applicable from 8 December. The PS
Seaber announces new special advisor Finnish maritime technology company Seaber welcomes a new special advisor, Willem Dijkhuis, who has served as chartering & freight trading lead at Cargill, an agribusiness company based in the United States and one of the country's biggest private companies. He is an experienced shipping professional who enjoys working in dynamic markets with constantly changing variables and is driven by the opp
US to invest over half a billion US dollars in new box terminal in Sri Lanka The US government has decided to invest US$553 million in building a new deep-water container terminal in Sri Lanka's Port of Colombo. The US International Development Finance Corporation (DFC), America's development finance institution, will provide the financial support for the development of the West Container Terminal. DFC CEO, Scott Nathan said the new terminal will expand the container capa
Seacon buys chemical tankers in leaseback deal with Union Maritime Busy Chinese shipowner and operator Seacon Shipping has picked up a pair of chemical and product tankers for $28m. The Hong Kong-listed firm is paying $14m each for the 2012 Taizhou Sanfu-built Kenrick and Enford, both linked to UK bulker and tanker player Union Maritime. Both ships should deliver in December this year. As part ...
Argeo inks deal for subsea work on Shell's Bonga field Norwegian surveyor Argeo has signed a contract for work on the Bonga field subsea assets with Shell Nigerian Exploration and Product Company and local content partner GOSL. The first work program comprises deep-water inspection services on the Bonga field and its subsea assets - pipelines, infrastructure, and flowline systems - as well as nearby geophysical ...
Monjasa makes its largest ship investment to date Danish bunker supplier and tanker owner Monjasa has further strengthened its operations across West Africa with the addition of two secondhand tankers, one of which has become the the company's single largest ship investment to date. The Federicia-headquartered company has recently taken delivery of the 2008-built 68,589 dwt Monjasa Leader, ex-Cabo San Antonio and the ...
MMA Offshore expands fleet with MPSV buy Australian OSV operator MMA Offshore has bought the 2016-built, 54-meter multipurpose support vessel (MPSV) fitted with two deck cranes, dual moon pools, and accommodation for 42 people. The vessel was acquired from Guardian Offshore with the A$14m ($9m) purchase price to be funded from MMA's existing cash reserves. The vessel is suitable for operations globally ...
Shell sues Greenpeace after FPSO boarding Shell is suing Greenpeace for $2.1m in damages in one of the biggest ever legal claims against the environmental group after its protesters occupied a floating production storage and offloading (FPSO) unit for 13 days earlier this year. The lawsuit follows an incident in January when Greenpeace activists boarded the Shell-contracted heavy-load vessel White Marlin ...
UK and Taiwan port operators to cooperate on floating offshore wind Associated British Ports (ABP) has signed a memorandum of understanding (MoU) of cooperation on floating offshore wind-related port facilities and the exploration of future business collaboration opportunities with Taiwan International Ports Corporation (TIPC). ABP is the UK's leading and largest port operator with a network of 21 ports around the UK, handling a quarter of ...
Reach Subsea secures vessel capacity with Agalas newbuild charter Norwegian offshore services player Reach Subsea has signed a long-term charter with fellow shipowner Agalas for a newbuild IMR/survey vessel with delivery in early 2026. The charter is for three or five years with additional options at attractive terms, the Haugesund-based Reach said. The new vessel will be built at the Sefine Shipyard in Turkey ...
Putin hands control of FESCO to Rosatom Far Eastern Shipping Company (FESCO), Russia's top container name, has a new owner. Yesterday president Vladimir Putin decided to transfer the 92.4% of state-owned shares in FESCO to state-run Rosatom, Russia's largest nuclear power company. The state took over the running of FESCO after its boss, Ziyavudin Magomedov, was arrested and sent to jail for ...
Aker Solutions given go-ahead for Norfolk offshore wind platform work Norway's Aker Solutions has been awarded a limited notice to proceed contract from Vattenfall for the Norfolk Vanguard West offshore wind farm off the coast of Norfolk, UK. The scope of work for Aker Solutions includes the engineering, procurement, construction, and installation of the high voltage direct current (HVDC) offshore platform. The fabrication of the ...
Astatine Investment Partners buys Canada's McKeil Marine Connecticut-based private equity firm Astatine Investment Partners (AIP) has bought Ontario-based shipping company McKeil Marine from Canada's TorQuest Partners. "McKeil provides meaningful downside protection through its long-term inflation-linked contracts. There is also a tremendous opportunity to evolve its service offerings and strategically expand its diverse fleet. We look forward to worki
PGS scores 4D survey contract in West Africa Norwegian seismic player PGS has won another 4D survey contract offshore West Africa. The Oslo-listed company, set to merge with seismic data specialist TGS, said the mobilisation is set for the fourth quarter and that the contract would last for about 60 days. No further details have been disclosed. "We experience continued high activity in ...
Any higher? $4m paid in slot auction to transit perilously low Panama Canal The average cost of transiting the Panama Canal in the seven years since it was expanded has been $900,000. With daily slots being halved thanks to drought, shippers are willing to fork out four or five times as much to get their prized cargoes to Asia. Japan's Eneos Group paid a $3.975m yesterday in an ...
Torm snaps up eight LR2 tankers in $399m deal Danish tanker owner Torm is beefing up its fleet with the addition of eight secondhand LR2 vessels in a $399m cash and shares deal. The New York and Copenhagen Nasdaq-listed firm did not reveal the names of the ships or the seller but said that all units had been built by Hyundai Samho in South ...
NYK, CODELCO developing zero CO2 ammonia-powered handymax bulker NYK Bulk & Project Carriers (NBP), Oshima Shipbuilding, and Sumitomo have signed a memorandum of understanding to study, design, and construct the world's first ammonia dual fuel handymax bulk carrier that is claimed will reduce CO2 emissions to zero. This MoU comes a year after Chilean state-owned copper producer Corporación Nacional del Cobre de Chile ...
Maritime technology firms Navtor and Voyager Worldwide merge Norwegian e-navigation specialist Navtor and maritime technology solutions firm Voyager Worldwide have agreed to merge with the transaction expected to close by December 2023. The combined business will deliver products and solutions to approximately 18,000 vessels globally and have an extensive network of global offices and representatives in all of shipping's key markets. Both businesses will ...
One dead, four injured following Russian strike on bulk carrier A pilot died and three Filipino crew and a dockworker were injured following a Russian missile strike on a bulk carrier entering the Ukrainian port of Yuzhny yesterday. According to security consultants Ambrey, a Soviet-style Kh-31P air-to-surface missile hit the 91,800 dwt Kmax Ruler, a Liberian-flagged bulk carrier that was due to take a cargo ...
Hill Dickinson announces new CEO to replace Peter Jackson Long-serving Hill Dickinson CEO, Peter Jackson, will step down at the end of next April and be succeeded by business services group head, Craig Scott A marine and transport specialist, Jackson has been with the firm since 1983, where he was made managing partner in 2005 and became CEO in 2016. Jackson will be staying ...
Virtue signalling as a pathway to shipping glory Santosh Patil warns on the growing number of social media influencers in shipping who make public displays of support with empty rhetoric without actively contributing to meaningful change or addressing underlying issues. The past decade or so has seen major shifts in global shipping as we know it. Since the adoption of Paris Agreement in ...
Scorpio beats expectations and boosts dividends Emanuele Lauro-led Scorpio handily beats analysts' forecasts in third quarter earnings and points to more strength in the fourth
GSL 'insulated' from box sector's challenging outlook 'Macro headwinds, geopolitical uncertainty, and the size of the orderbook remain areas of concern for the overall industry, but the...
Monjasa buys panamax as floating bunker storage Monjasa said its fleet now consists of 13 tankers following the purchase of four secondhand vessels this year
Moscow tightens grip on Russian shipping as Fesco is transferred to Rosatom Moscow has been hoovering up assets and partners to accelerate northern sea route plans and bolster east coast trade for...
D'Amico reports another strong quarter ahead of US listing upgrade Milan-listed d'Amico reports another strong quarter ahead of upgrading its listing in the US to the UTCQX market. A return...
Ukraine's Black Sea exports surpass 3m tonnes as industry condemns Russian attack The first major incident since the corridor's opening in August could spook shipowners, and highlights the challenges Ukraine faces in...
UK and Britannia announce hefty premium increases for 2024 Britannia members to get cashback as sweetener
Hapag-Lloyd tightens cost focus as low rates hit earnings Rates are now unsustainable on several trades. Hapag-Lloyd will remove services among other efforts to drive down costs to help...
Seacon buys two tankers to meet expected surging chemical demand The vessels will be chartered back to a subsidiary of the seller for two years, with the option to extend...
Strong premium growth for all major marine insurance classes, IUMI confirms 'This is largely off the back of a post-pandemic rebound in global trade, but can also be attributed to more...
Torm avoids newbuildings as it boosts fleet with 12 secondhand ships Chief executive of Danish tanker operator says, 'I prefer assets to be on the water' and has no plans to...
US imports peak post summer National Retail Federation says retailers are stocked and ready for the holiday period, and expects lower import volumes through the...
Daily Briefing Concerns raised shipping is ill prepared for EU ETS | Blacklisted Russian grain operator to establish dry cargo fleet | Chinese...
Bid from car hauler to revive defunct Yellow has shippers skeptical Jack Cooper Transport wants to outbid other truckers for the assets of the bankrupt less-than-truckload provider, but it's not clear how the bid would work.
CBP increases scrutiny of skyrocketing low-value international shipments An explosion in the use of the so-called de minimis provision, which enables US consignees to bring in a package under $800 in value each day, has US customs regulators worried about the intrusion of illicit goods, such as fentanyl.
ILA looking for local ports to bring in more union foremen Alongside broader talks on wages for its members, the International Longshoremen's Association said individual ports need to use more union supervisors and foremen, particularly throughout the South.
Ports America, CN launch Gulfport intermodal service targeting perishables The new north-south service will begin next week with trial runs transporting perishable goods out of Latin America to Chicago.
Crashing trans-Atlantic spot rates delay long-term contract signing Carriers and shippers, however, believe there is little room left to fall for spot rates that are already below pre-pandemic levels.
Hapag-Lloyd prioritizes costs as rates, earnings plummet The carrier has followed its peers with a sharp decline in earnings, and although still highly profitable, its CEO warned that rates on the east-west trade lanes are at unsustainable levels.
Container ship market may be challenging next year as supply piles up, shipowners say Orderbook has grown to 27% of global fleet, Euroseas chief executive Aristides Pittas says
Euroseas profit rises as it adds eco newbuilding to fleet New York-listed container ship owner issues dividend of $0.50 per share for third quarter
Global Ship Lease beats analyst estimates despite higher costs pulling down profit Operating expenses rise by $5m as fleet grows by four vessels
Scorpio plays cash-back card: How Robert Bugbee says tanker owner could share the wealth This week's dividend increase could be just an appetizer if debt reduction keeps apace
Viasat and Inmarsat tie-up sees profits fall due to satellite failures Some 800 jobs are to go due to integration and rationalisation
Excelerate Energy weighing up order for second FSRU newbuilding US-listed outfit plans to invest in new FSRUs and terminal infrastructure
Hunter says long-term deals must be agreed before it will order new CO2 carriers Norwegian group reports interest in its new designs, but barriers remain
Scorpio Tankers beats analyst estimates, ratchets up dividend Product tanker giant also bought back $91m in shares, restocks $250m kitty
Streetwise: International Seaways' move on Diamond S Shipping still paying rich dividends This week's Streetwise examines how an M&A move has been the gift that keeps on giving for the New York owner
Wavelength: Could liner shipping offer Britain that sought-after Brexit dividend? The liner shipping lobby is urging Britain to allow it to slip the European Union's competition rules as a show of sovereignty
d'Amico pays $20m dividend, professing 'strong confidence' in product tankers Backed up by robust profitability, listed Italian player seeks to boost the visibility of its shares
Hapag's Rolf Habben Jansen: 'Freight rates are a problem' Hapag-Lloyd boss warns shippers they hold unrealistic contract expectations
Monjasa snaps up its biggest tanker as part of deal to boost West African operations Panamax/LR1 bought alongside smaller vessel for fuel storage and bunkering
'Miracle' return for seafarers after navigating nine-month ordeal with grounded tanker Chief officer says sanctioned crew manager abandoned them after bitumen tanker ran aground and sank
US fund Astatine snaps up Canadian tanker and bulker owner McKeil Marine Buyer will take control of mixed 39-ship fleet
Video captures moment deadly Russian missile hits vessel in Ukraine's Odesa port Footage has transpired from the 8 November attack near Odesa, which Ukraine says will not disrupt its seaborne trade
Video captures dramatic moment missile hits vessel in Ukraine's Odesa port Footage has transpired from the 8 November attack near Odesa, which Ukraine says will not disrupt its seaborne trade
Shipowner Stanislav Raspopov reveals new tanker venture in Athens and Dubai Former Navig8 executive has quickly built an MR fleet of six ships
Kristian Gerhard Jebsen tipped to build Torm stake as it signals new focus on bulkers Tanker sale to Danish company was an important shift in strategy, Norwegian owner says
Low-profile Stanislav Raspopov company behind purchase of Scorpio product carrier Scorpio's oldest vessel was recently bought back from a Chinese leasing company
Azane, Navigator make the case for ammonia as investment pushes bunkering barge work forward Executives see little standing in the way of ammonia-as-a-fuel
The view from Japan on shipping's road to net zero The Green Seas newsletter hitches a virtual ride to Tokyo for a discussion on decarbonisation
Long-running Boa Offshore dispute finally coming to a close Agreement comes after eight years fighting the parent company of a compatriot shipyard
Belships results softer but it remains committed to shareholder dividends Supramax and ultramax owner says its average freight earnings have been supported by profitable time charter deals
Higher rates on FSRU charters boost earnings for Excelerate Energy Floating regasification specialist raises full year earnings guidance
Torm offloads six ships as Alterna Capital tanker buys confirmed Danish owner has been very active in sale-and-purchase markets this year
Hapag-Lloyd's profits nosedive $5bn amid fears of 'challenging quarters' Rolf Habben Jansen fears company faces a rough ride if spot rates do not recover
Belships results softer but remains committed to shareholder dividends Supramax and ultramax owner said its average freight earnings have been supported by profitable time-charter deals
Great Eastern's Shivakumar admits MR tanker buy did not 'scream value', but was necessary Buying at high point of asset-value cycle will maintain Indian owner's position in international markets
'Strong demand': Torm swoops for fleet of eight LR2 tankers at a cost of $399m Danish owner expanding the fleet once again in cash and share deals
Panagiotidis bemoans soft bulker market as Castor Maritime falls to a loss Cyprus-based owner remains committed to modernising fleet after recent sales
OET profit slows down in the third quarter from record highs Alafouzos family company had its entire VLCC fleet trading spot in the three months to the end of September
Precious raises fresh S&P cash, but is in no hurry to spend it Shipowner says loan's two-year availability period for drawdown allows it to wait for the right opportunity
In pictures: Ukraine's maritime champ honoured by Mission to Seafarers at star-studded awards 'Exciting growth' in outreach worldwide but index reveals a decline in seafarer happiness
Precious raises fresh S&P cash, but says it is in no hurry to spend it Shipowner says loan's two-year availability period for drawdown allows it to wait for the right opportunity
Panama Canal crisis forces US farm exports to detour through Suez U.S. agribulk exports to Asia are taking the longer route via the Suez Canal due to Panama transit restrictions.
Shipping line Hapag-Lloyd suffers 'big miss' as Q3 profits slump Cargo volumes are holding up, but rising transport capacity is outpacing demand, pushing container shipping rates even lower.
Cargo airlines throttle back on aircraft leases, ATSG says Air Transport Services Group is slowing investment in converted freighters as a weak shipping market leads cargo airlines to pause fleet expansion.
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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