Graves takes chair of House T&I Committee U.S. Rep. Sam Graves (R-Missouri) has been selected to serve as Chairman of the House Transportation and Infrastructure Committee in the 118th Congress. He had served as the panel's ranking Republican member
Cyberattack hits DNV ShipManager software DNV confirmed yesterday that its ShipManager fleet management software was hit by a cyberattack on the evening of Saturday, January 7, and that DNV specialists had shut down ShipManager's IT servers in
Canada takes delivery of two SAR lifeboats The Canadian Coast Guard yesterday marked the delivery of the search and rescue (SAR) lifeboats CCGS Gabarus Bay and CCGS Chedabucto Bay. The vessels were built by Hike Metal Products Ltd of
Clerc announces new Maersk leadership line-up Following the appointment of Vincent Clerc as CEO, which became effective January 1, A.P. Moller - Maersk (Maersk) has announced a new organizational structure and a new executive leadership team. The changes
CMA CGM opens new office in Port of Damietta The new administrative headquarter of the French ocean carrier CMA CGM Group, one of the largest container shipping companies in the world, was inaugurated inside the port of Damietta in Egypt. Rear Admiral Ahmed Abdel Moaty Hawash, chairman of the Damietta Port Authority (DPA), attended the opening ceremony, as well as, Eng. Tariq Zaghloul, CEO of CMA CGM in Egypt, Muhannad Ahmed, representative
Dammam Port kicks off container terminal project to raise capacity to 7.5 million TEUs The Saudi Ports Authority (Mawani) has commenced works for upgrading and developing two box terminals at King Abdulaziz Port in Dammam under the Build-Operate-Transfer (BOT) concession signed with Saudi Global Ports (SGP) valued at over US$1.8 billion. The launch ceremony was attended by Omar Hariri, president of Mawani, and Eng. Abdullah Al-Zamil, SGP chairman, alongside senior logistics and mar
Hapag-Lloyd proceeds with new container transshipment hub in Egypt Hapag Lloyd's transshipment terminal with an annual throughput capacity of 3.3 million TEUs is under construction in Damietta, Egypt. Plans call for the completion of construction by the second half of 2024 and ramp-up of operations by 2025. Hapag-Lloyd said the purpose of the construction is to give more advantages to the company and its customers in Egypt. The terminal will be equipped with 50
Update: Grounded MSC boxship refloated, Port of Gioia Tauro resumes operations The operations at the port of Gioia Tauro have returned to normal levels after the successful attempt to free MSC Elaine which blocked the entrance of the Italian gateway on 9 January. "The port entrance is no longer obstructed by the large container ship," confirmed the Italian Coast Guard. Local authorities carried out rescue operations throughout the night with five tugboats trying to pull the
DP World Southampton cuts net carbon emissions by 55% in 2022 DP World's container terminal at Southampton has achieved its greenest-ever year in 2022 after delivering a 55% reduction in net carbon emissions from its fleet and installations. Southampton became the first port in the United Kingdom to switch fully to Hydrotreated Vegetable Oil (HVO) last April. Steve McCrindle, DP World's port operations director at Southampton, commented, "We will use HVO fo
Maersk announces new executive leadership team Maersk has made several changes in its organisational structure and executive leadership team, following the appointment of new CEO Vincent Clerc who took the company's helm on 1 January 2023. "The business has executed well during the past years, and we have a highly engaged and competent global team ready for the next miles of our transformation. We face a challenging global economic outlook, a
HHLA unveils plans for hydrogen filling station at Port of Hamburg Linde Engineering is going to build a hydrogen filling station within the scope of Hamburger Hafen und Logistik AG (HHLA) Clean Port & Logistics (CPL) innovation cluster. The filling station is expected to begin operation in 2023. The purpose of the filling station is to be part of the test centre for hydrogen-powered port logistics at the Container Terminal Tollerort (CTT) in the Port of Hamburg
HMM CEO: Eco-friendly fleet and terminals to ride out challenges The chief executive officer (CEO) of HMM, Kim Kyung-bae pointed out in his New Year's message that South Korea's flagship carrier will build eco-friendly ships and acquire more container terminals to secure its future growth. Addressing the ongoing decline in container freight rates, Kim said, "We must strengthen pre-emptive crisis management. It is said that there's no sky without rain. Companie
Containers fall into Mundra waters after feeder capsizes According to the Indian broker, Prevailing Shipping & Logistics India, at least 20 containers have fallen into the water from the 1999-built, Pana-flagged boxship Sea Express, which lost stability during unloading operations at Mundra Port in India. MV SEA EXPRESS , Panama Flag , Age : 24 years n LOA 143.5 m arrival draft 8.3 m berthed at MICT 12:38 / 07th Jan 2023 Vessel list starboard side of a
10 Steps to Starting a Freight Forwarding Business Around the world, myriad businesses need to get products from one place to another. This is where freight forwarding comes in. A freight forwarder is a company that specializes in arranging the transport of goods via air, sea, road, or rail. If you're thinking of starting your own freight forwarding business, there are a few key steps you'll need to take to make it successful. In this blog post,
7 Ways Freight Services Owners Can Avoid The Risk Of Liability The business of shipping goods is huge. With practically everything we use and consume going via some aspect of the global freight network, the movement of goods is the foundation of contemporary society. A company must rely on freight service owners to distribute its goods unless it is large enough to maintain a fleet of trucks. Even the largest companies rely on specialized freight services for
MSC container vessel blocks major Italian box port The 8,562 TEU container ship MSC Elaine went out of control at Gioia Tauro harbor and ran onto the southern breakwater tip. The 339-metre-long vessel remains grounded at the entrance of the Italian port, blocking the largest container port in the country. The incident occurred when the ship was leaving the port on 9 January in the morning (around 09:00 local time). According to the reports, there
Santos Port Authority and Zeittec to build new data center Brazilian engineering company Zeittec and Santos Port Authority (SPA), a state-owned company that manages the Port of Santos in Brazil, have signed the contract for the construction of a new Data Center. Construction of the "Safe Room" is expected to begin in January, and the building is expected to be completed in mid-2023. SPA decided to implement a Safe Room, in order to meet the demands of di
ZIM backs compatriot fintech platform 40Seas Israeli carrier ZIM and venture capital firm Team8 are supporting a compatriot fintech platform for cross-border trade financing, with $111m in funding. The Tel Aviv-based 40Seas has raised $11m in a seed funding round, led by Team8 with participation from ZIM and an additional $100m revolving credit facility from ZIM with an option to extend ...
Norden boosts tanker pool with Mercuria MR trio Denmark's Norden has received a boost for its tanker pool with the addition of three MR product tankers from Mercuria. The Swiss energy and commodities trader has joined the pool with the 2015-built Silver Ebalina, 2019-built Sea Eagle and the 2022-built PS New Orleans. Norden Tanker Pool, previously known as Norient Product Pool welcomed 10 ...
Acteon names new chief executive UK-based marine contractor Acteon has appointed Dr Bernhard Bruggaier as group chief executive, succeeding Dr Carl Trowell. Bruggaier joined Acteon's subsidiary MENCK in 1994, became its managing director in 1998 and joined Acteon's executive management team following the acquisition of MENCK in 2003. After that, Bernhard served in various senior strategic and operational management roles ...
MSC boxship pulled free after grounding in Italy The 340-m-long containership was successfully refloated after becoming stranded on the breakwater at the port of Gioia Tauro, obstructing access to the large container port in Southern Italy. Assisted by several tugs, the 2009-built 8,566 teu ship owned by Mediterranean Shipping Co (MSC) managed to break free from the breakwater barrier earlier today and reach ...
Fugro and Enviros selected for Norwegian offshore wind site surveys Dutch surveyor Fugro and UK-based Enviros have won offshore survey contracts from the Norwegian Petroleum Directorate (NPD) to locate sites that are best suited for the placement of wind turbines. Fugro has been awarded the contract for the Sørlig Nordsjø II area, while Enviros will map Utsira Nord. Fugro will use its Fugro Searcher vessel ...
Maersk unveils new leadership team Denmark's A.P. Moller - Maersk has announced a new organisational structure and a new executive leadership team, following the appointment of Vincent Clerc as CEO. The new structure is shaped around 15 roles and areas of responsibility, effective February 1, 2023. The world's second-largest liner said the executive leadership team would jointly own the execution ...
Shelf Drilling seals one-year jackup extension in Egypt Dubai-based jackup rig operator Shelf Drilling has picked up a contract extension for one of its units working offshore Egypt. The Oslo-listed firm's 1982-built has been booked by Belayim Petroleum Company (Petrobel) for operations in the Gulf of Suez for one more year in direct continuation of its current term. The rig has been working ...
Banks take control at Vroon, OSV fleet to be sold Top management at Vroon have outlined a restructuring plan with banks set to take control of one of the best known shipping brands in the Netherlands. Vroon's banks have confirmed their intention to commit to the restructuring plan, which is planned to be closed no later than March 31. The so-called "new Vroon" will aim ...
MSC ship grounds at mouth of Italy's largest container port Nearly 24 hours on from becoming wrapped around a breakwater, the 339 m long boxship remains grounded at the entrance of one of Italy's premier maritime gateways. Five tugboats are attending to the grounded 8,566 teu ship, owned by Mediterranean Shipping Co (MSC), but have yet to dislodge it. The vessel turned late on the ...
Abandoned livestock carrier to be auctioned in Australia The , a 2005-built livestock carrier, will be auctioned in Australia four months after the ship was arrested over unpaid bills. More than 30 Filipino seafarers onboard the Liberian flagged ship, owned by a Chinese company based in Dalian, are owed many months in back wages with Australian authorities suspecting the converted containership had been ...
Seafarers desperately need training to handle explosive lithium-ion batteries Simon Hodgkinson, head of loss prevention at West P&I, believes dedicated courses are a must to safeguard mariners' lives. Transporting potentially explosive lithium-ion batteries on vessels is a dangerous business, as incidents in recent years have shown. An investigation by the United States Coast Guard into a freight container that caught fire on a US ...
John Fredriksen walks away from Euronav merger John Fredriksen's pursuit of Euronav is over. The Norwegian tanker magnate's tanker firm, Frontline, on Monday announced it will no longer seek a combination with Euronav, ending one of the most high profile shipping merger sagas in history. Fredriksen had been building up his stake in Antwerp-based Euronav for 15 months, and found himself in ...
Construction of $100m offshore supply base in Newfoundland takes step forward Fermeuse Enterprises Ltd (FEL) is close to realising its plans to build a marine base for the offshore oil and gas industry in the town of Fermeuse, Newfoundland, about 90 km south of St. John's. The company received final approval for the project in late December and will now finalise engineering plans for construction, according ...
Human Rights at Sea granted UN special consultative status UN Economic and Social Council status elevates the standing of Human Rights at Sea as an NGO dedicated to helping...
Vroon to sell 40 offshore support vessels in restructure Netherlands-based Vroon will sell its offshore vessel fleet during the next 18 months in a deal that will see lenders...
US monthly imports fall back to under 2m teu Pandemic-driven surge in US imports has ended. Import levels are set to remain low during the first quarter
Brokerages step up activities to remain competitive Go large, or go niche seems to be at play in the shipbroking world as customers demand greater data and...
Eneti flags sale of three wind turbine installation vessels to help fund $654m newbuilding bill Eneti has five vessels in operation after acquiring Seajacks in 2021, with a further two new newbuildings on order, but...
FrontNav saga is not over - here's what happens next The latest in a long line of merger attempts between Euronav and Frontline has failed. The immediate repercussions are positive...
Transworld agrees second boxship recycling sale Containership recycling appears to be finally taking off following no activity in almost a year, as shipowners seek to offload...
Simpson Spence Young appoints new partners in Singapore and London Firm now has 400 employees in dozen of locations worldwide
Italian port to reopen after grounded boxship is refloated Inbound and outbound traffic ground to a halt at the key Italian containership hub after a ship ran aground at...
Maersk expands executive leadership team Maersk has grown its leadership team to include 15 senior roles. Familiar faces remain, but there is wider regional representation
China to prosecute former Cexim banker over 'massive' bribes Misconduct was allegedly committed when she headed the bank' transportation department and then its Shanghai branch in 2009-2019
US national admits conspiring to break Iranian sanctions Defendant admitted involvement in separate conspiracies spanning at least seven years in which he facilitated illegal, sanction-busting trade of petrochemical...
Daily Briefing Russia tanker chartering premium holds for now | China to allow foreign crew changeover | South Korea relaxes visa rules...
DNV fleet management system hit by cyber attack Incident follows attacks on the port of Lisbon and Voyager Worldwide
US faces call to drop tariff barriers on Ukrainian steel The mining and metal industry of Ukraine provided about 10% of GDP and 33% of exports before Russia's invasion, data...
Forward expands air-ground network, aiming for high-value freight The acquisition of competitor Land Air Express expands Forward Air's nationwide ground airport-to-airport network and capacity, Forward's CEO says.
'Pricing discipline' to temper US LTL rate relief in 2023 Shippers can expect some rate relief and improved LTL service in 2023 as demand softens and shipping patterns normalize, which for carriers will take some of the shine off the sector's recent golden glow.
Fallout from ocean rate collapse to define market 'status quo' in 2023 The collapse in ocean freight rates is a clear signal that the market is reverting to its pre-pandemic state, but the burning question for 2023 is whether that reversion is temporary.
Maersk's new-look management team faces challenging operating environment Maersk's new executive lineup covers 15 areas of responsibility within the carrier and is a combination of long-term company leaders and those with experience from outside the group.
Roadrunner expedites West Coast-to-Chicago service to meet inland demand The largest US point-to-point LTL carrier is speeding service from Southern California to Chicago, reducing the transit time to one to three business days as demand for velocity remains high.
Euronav shares plunge while Frontline and International Seaways strengthen Investors sell off Euronav following Frontline's announcement that it was backing off merger plans with the Belgian tanker owner
Star Bulk expects 'extremely weak' supramax market to recover after Chinese New Year Deputy chief investment officer says capesize sector should outperform rest of dry bulk shipping in 2023
Tite Street and Crestline team up to buy third ship with big name charterer Partners are looking for more after buying boxship from Hammonia Reederei
Saverys' CMB wants to talk Euronav future and leadership after abandoned Frontline merger Family company wants to talk about tanker owner's strategy and supervisory board make-up after combination falls through
Zim among lead backers as fintech platform 40Seas lines up $111m in financing Israel-based trade finance start-up also scores $11m in seed funding as liner operator provides $100m credit facility
Newcomer Ellerman ditches Asia-Europe after freight rates tank Liner upstart is shifting vessels onto the transatlantic trade, where rates are stronger
Growing gap in company values may have given Fredriksen pause for thought Clarksons Securities says Frontline's net asset value was growing past the exchange offer ratio
Investor enthusiasm for Frontline-Euronav tie has been fraying for some time 'I couldn't imagine a better result' was the take from one researcher and investor following John Fredriksen's pullout
Thanassis Laskaridis outfit tied to buy of Goodbulk capesize pair The Alimia Group and Laskaridis Maritime are said to be expanding into capesizes in their first known S&P move
Vroon boss Marks steps down as $360m offshore fleet put on sales block Banks set to take control of private Dutch owner, which will focus on tankers, ERRV ships and livestock carriers
Maersk sublets to rival as big box charter market collapses Liner operators are increasingly ready to sublet vessels as charter market collapses
Release deal sought as judge sets oil 'theft' trial for VLCC crew Shipping bodies have called on Nigeria to release of the 26-strong crew and the Ray Car Carriers-owned tanker
VLCCs change hands at a quicker pace as oil storage heats up Falling freight rates do little to dampen sale-and-purchase activity in the tanker market
Vietnamese aggregates carrier goes missing off Indonesia Search fails to find trace of vessel and five seafarers after contact was lost
Cyber attack on DNV forces it to shut down its ShipManager software Norway-based group is the second classification society to have to shut down its IT servers in response to a cyber attack in the last couple of years.
'Amicable' solution to merger impasse was not found, Frontline boss Barstad says Effectiveness of running two companies in parallel came under question
Former Inmarsat chief becomes board advisor at cyber security firm CyberOwl Ronald Spithout, who was ousted as US group Viasat took over Inmarsat joins CyberOwl board to help it expand after raising $5m
Where will John Fredriksen's gaze turn next after latest tanker consolidation miss? Shipping tycoon can now add Euronav to list of failed deals including DHT and Gener8
Maersk's new head Clerc acts fast with fresh leadership team to face container headwinds New boss Vincent Clerc eyes 'diversity of thought, age, gender and nationality'
Euronav's De Stoop bats away leadership talk after Frontline axes merger Largest Euronav shareholder had opposed the merger deal with Frontline
Where will Fredriksen's gaze turn next after latest tanker consolidation miss? Shipping tycoon can now add Euronav to list of failed deals including DHT and Gener8
AP Moller-Maersk unveils 15-strong executive leadership team New boss Vincent Clerc eyes 'diversity of thought, age, gender and nationality'
Euronav CEO Hugo De Stoop bats away leadership talk Largest Euronav shareholder had opposed the merger deal with Frontline
Ageing $25bn ferry fleet under pressure as recession looms VesselsValue initiates coverage of sector by predicting more scrapping and falling prices for secondhand units
War risk rates jump following reinsurers' Russian retreat Reduced war risk underwriting capacity has led to a rise in rates since the New Year
StealthGas shakes out oldies, including only Chinese-built ship Fleet of US-listed outfit now consists entirely of LPG vessels built in Japan and South Korea
Fearnley Securities tips big share boost for Frontline but Euronav drops 19% Analyst sees upside for Fredriksen company after massive combination deal is torn up
DHT Holdings sees VLCC spot bookings hit $70,000 in 2023 Update by New York-listed owner follows torrid week for the sector with rates down sharply
Euronav 'reserves all rights' after 'unilateral' decision by Frontline to dump tie-up Belgian owner examining letter terminating the agreement to form the world's biggest tanker company
Easterly Asset Management emerges as buyer of Cido tanker quartet Fund manager turned shipowner looks to have picked up more assets from South Korean shipowner
M3 Marine builds shipbroking capability ahead of next offshore supercycle M3 Marine on expansion course as C4 Energy director Mark Colbridge hired to head up brokerage division
Solstad Offshore claims 29% fuel saving on lengthy PSV transit Oslo-listed company says excellent seamanship plus data analytics are key to improving environmental footprint
New Vietnamese bulker operator hit by Sudan arrest from Indian trader Rika A dispute over wet sugar has stymied the operations of a new fleet of veteran bulkers
Scrapped boxship diverted to India as Pakistan halts letters of credit Leading recycling nation follows Bangladesh in making life difficult for sellers and importers of older ships
Biden climate blueprint promotes modal shift away from trucks A first-ever strategy aimed specifically at decarbonizing transportation encourages maritime and rail over highway freight.
'Surge finally over,' US imports back near pre-pandemic levels Imports continue to decline and are close to where they were before COVID-19, but the coastal mix is very different.
Motor carrier finds private telephone network way of the future We take a look back at the state-of-the-art technology that streamlined trucking in 1961.
Viewpoint: Spring, summer goods latest victims in China's COVID mess Trade has been proven time and time again to blow away the bluster of political rhetoric. China's sleight of hand with its COVID reporting has the WHO accusing China of "under-representing" the severity of cases, and the flow of trade can back up the WHO's statement.
Investment group offers cargo hub-in-a-box to regional airports A private investment group is rolling up large chunks of land at smaller airports to develop air cargo facilities.
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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