Port of South Louisiana to purchase Avondale Global Gateway Port of South Louisiana (Port SL) CEO Paul Matthews said today that the port has entered an agreement with T. Parker Host to purchase Avondale Global Gateway. The agreement was made after
Damen, NAPA and BV in 3D model classification approval first A concept design for a 2,500-cubic-meter hopper dredge is the first Damen concept vessel to gain Bureau Veritas (BV) certification using 3D model-based classification approval (3D MBA). Following this successful implementation of
Crowley to present on the digital transformation at TTB 2023 On March 7-8 in Mobile, Ala., Tugs, Towboats & Barges (TTB) 2023 will once again bring together owners, operators, naval architects, shipbuilders and more to discuss advances in technology and design, as
German rental equipment provider orders 64 Kalmar forklift trucks Cargotec-owned Kalmar has agreed to supply Hanselmann GmbH, a German rental equipment provider, with 64 Kalmar forklift trucks, including medium and heavy models. The order was placed in Cargotec's Q4 order intake, and the equipment will be delivered in three consecutive batches during 2023. Hanselmann has rental equipment fleets including forklifts, pick and carry cranes, and aerial work platfor
Thomas Miller appoints new director of claims and legal services sector Thomas Miller Claims Management (TMCM), the claims management division of insurance services company Thomas Miller Group, has announced the hiring of Jessica Maitra as director of claims and legal services. Maitra will oversee all TMCM operations, including Thomas Miller Law, as director of claims and legal services. She joins Thomas Miller Group as a qualified solicitor from Clyde & Co, where sh
JAXPORT to receive full funding for raising powerlines near Blount Island JAXPORT has secured complete funding for the project to raise the Fulton Cut Crossing powerlines over the St. Johns River adjacent to JAXPORT's Blount Island Marine Terminal. According to a port's statement, the Jacksonville City Council voted to award JAXPORT a US$10 million grant toward the project. The City will also provide a US$12.5 million loan and a US$5 million bridge loan, which will be
Global bunker indices continue downward trend According to the weekly outlook of Marine Bunker Exchange (MABUX) for fuel prices, global bunker indices continued moderate decline. The 380 HSFO index fell by US$13.38 to US$456.26/MT, the VLSFO index lost US$8.51 to US$655.30/MT and the MGO index decreased by US$6.28, to US$1,008.71/MT. Additionally, Global Scrubber Spread (SS) - the price differential between 380 HSFO and VLSFO - showed a slig
DP World and Maersk launch collaboration at Jebel Ali port DP World has started a partnership with A.P. Moller-Maersk to proceed with decarbonisation process and increase productivity at Jebel Ali port in Dubai. In particular, this partnership is going to provide support to Maersk's customers and implement new processes aiming to improve productivity on the quayside, which will lead to faster gate turnaround times at Jebel Ali Port and reduced fuel consu
Lars Jensen: Container market set to be "drastically different" in 2023 The Baltic Exchange, in collaboration with Freightos, and Vespucci Maritime, have released their container shipping report for January. Their opinion is that in 2023, container market conditions will be drastically different from 2022. A normalisation of container logistics, retail inventory correction, a cyclical downturn and new environmental regulations could shape the new year. Operational no
Antitrust authorities give green light to Spinelli Group share acquisition by Hapag-Lloyd Following the signing of the agreement in September 2022, the relevant antitrust authorities have approved the acquisition of a 49% share in Spinelli Group by the German container shipping company Hapag-Lloyd. With the transaction completed today (12 January), Hapag-Lloyd becomes a shareholder in one of Italy's largest terminal and transport operators. The Spinelli family still owns 51% of the re
IFCHOR and Galbraiths ink merger deal The signing of the agreement on the merger between shipbrokers IFCHOR and Galbraiths has been completed. The new group will consist of 21 offices with more than 300 employees and the full consolidation will be completed within the first quarter of 2023, while the new company is expected to have a brand new logo. Merged broking house stated, "Joining forces is driven by an opportunity to add more
MSC launches new feeder service in South Africa The largest container line in the world MSC has announced the launch of a new dedicated feeder service from the port of Coega to the port of Cape Town. The new intra-South Africa container service will have the following port rotation: Coega (South Africa) - Cape town (South Africa) - Coega Port rotation map of MSC's new South Africa service The 3,500 TEU container vessel MSC Anusha III will be t
Hapag-Lloyd announces port change in Pakistan on IO3 service rotation Hapag-Lloyd has announced port rotation changes on the Indian Ocean (IO3) service. In particular, from the first week of February, the vessels deployed on the service will call the Port of Karachi instead of Port Qasim in Pakistan. The first boxship to call at Karachi instead of Port Qasim will be the 11,400 TEU container vessel CMA CGM Pegasus which is expected to arrive at the port on 5 Februar
Sea-Intelligence reports volume shrinking in North America West Coast Sea-Intelligence noted in its latest report that when annualised against 2019, volume growth on the North America West Coast (NAWC) stagnated during the first two months of the traditional peak season of the third quarter, while outright contracting in September 2022. "This trend continued into October and November," pointed out Alan Murphy, CEO of Sea-Intelligence. Source: Sea-Intelligence.com,
Robbers steal 14 boxes worth US$4.4 million from San Antonio port A violent robbery occurred in the port of San Antonio, Chile, where thieves stole several containers, including copper belonging to state-owned Codelco, according to a Reuters report. Police sources report that the total worth of the stolen cargo is approximately US4.4 million. A statement by Juan Carlos Catalan, the local prosecutor, said ten armed men entered the San Antonio port early in the
Empty equipment outflows outpace empty repositioning at Indian ports amid falling demand Container lines serving Indian trades are sending more empty containers out of the country due to slowing demand for export shipments. According to exclusive port data obtained by Container News, Nhava Sheva Port (JNPT) saw a total empty outflow of 147,466 TEUs from October through December, compared with 109,277 TEUs of empty imports in the same three-month period. By contrast, during October-D
Tanker breaks in two after explosion, two crew missing An empty tanker split in two after an explosion and fire incident leading to the missing of two crew members. According to Maritime Bulletin's report, the accident happened at around 15:00 (Beijing time) on 10 January in the Yellow sea, 45 nautical miles southeast of Qingdao, China. Based on the currently available information, the tanker seems to be Hong Pu 6, however, it is not confirmed at the
Dutch police arrests MSC Lorena bomb threat suspect Dutch police has arrested a 22-year-old suspected of involvement in the false bomb threat on the 4,870 TEU MSC Lorena, which occurred on 22 December. MSC Lorena was sailing from Senegal to Antwerp last month when Belgian police received an anonymous call warning about a ship explosion in case of the vessel docks in the port of Antwerp-Bruges. As a result, MSC Lorena did not call the port and was
Norvic Shipping expands fleet with Japanese ultramax charter Bulker operator Norvic Shipping is bolstering its fleet with a Japanese ultramax newbuild taken on a long-term charter from Fujimaru Kaiun. The 64,000 dwt ship will deliver from Imabari Shipyard in the second quarter of 2023 and be renamed Norvic Copenhagen. "Norvic has decided to take newbuildings into our fleet of 125 vessels in response ...
D'Amico pounces on another leased MR tanker Italy's d'Amico International Shipping (DIS) has declared a purchase option on another bareboat chartered-in MR product tanker. The Milan-listed owner is taking back the 2014-built , estimated by VesselsValue as worth $34.2m, for a price tag of around $20.1m. Built by Hyundai Mipo in South Korea, the 49,000 dwt vessel which was sold and leased ...
Singapore Strait piracy attacks account for one-third of global total While global piracy and armed robbery attacks against commercial shipping continue to decline, Asia and specifically the Singapore Strait continue to be one of the areas of greater concern. The ICC International Maritime Bureau (IMB) recorded 115 incidents worldwide in 2022 - the lowest level recorded in almost three decades. However, half of them took ...
DP World and Maersk step up green drive at Jebel Ali Dubai-based terminal operator DP World is joining forces with Danish liner giant A.P. Moller - Maersk to boost operational efficiencies and deliver decarbonisation solutions at Jebel Ali port in the United Arab Emirates. The long-term strategic partnership will provide support for Maersk's customers by implementing new processes to improve quayside productivity, which should result in ...
CMB's Windcat seals Eneco CTV deal Crew transfer vessel operator Windcat, part of Antwerp-based shipping and logistics group Compagnie Maritime Belge (CMB), has struck a five-year charter deal with Dutch utility Eneco that will also see the two companies work together on decarbonisation of marine logistics using hydrogen dual-fuel solutions. The , the first vessel for the charter, will be tailored ...
Yinson wraps up 16-year FPSO contract in Nigeria as Addax exercises purchase option Malaysian floater operator Yinson has successfully completed the 16-year contract for the 1985-built FPSO , which has been operating at Block OML 123 offshore Nigeria. The contract with Sinopec's Addax Petroleum Development had an original term of eight years until 2014, with the option to extend by up to eight more years until 2022. The ...
Maritime tech disappointments in 2023 Shipping is regularly lambasted for its lack of innovative spirit. As regular writers of annual tech previews - see last year's version here - the disparity between stated ambition and actual developments can be enormous. Splash columnist Kris Kosmala argues that maritime is full of technology improvements of which a few could be called innovations, ...
Shell and EDF venture to lease New Jersey Wind Port Atlantic Shores Offshore Wind, a partnership between Shell and EDF Renewables, has teamed up with the New Jersey Economic Development Authority (NJEDA) to use the New Jersey Wind Port as marshalling hub for its 1.5 GW offshore wind farm off the New Jersey coast. A letter of intent has been signed for the lease of ...
Noble, Odfjell Drilling and Halliburton seal five-year extension with Aker BP Offshore drillers Noble Corporation and Odfjell Drilling, together with energy services giant Halliburton, have extended their drilling and wells alliance agreements with operator Aker BP for a further five years. The renewed framework agreement contains underlying commitments for the jackup rigs Noble Integrator and Noble Invincible and Odfjell Drilling's semisub pair Deepsea Nordkapp contracted
Volume of maritime podcasts on the up The number of maritime-related podcasts has mushroomed significantly in recent years with plenty more slated to start taping this year. Once seen as a very minor niche in the maritime media landscape, today there are many podcasts around the world, covering a huge array of diverse topics. Neatly encapsulating this fast-growing maritime information source, Chris ...
Cargill orders landmark methanol-powered bulkers in Japan With 2023 being tipped by many as the year methanol goes mainstream as shipping's alternative fuel for the 2020s, an important agent of change has stepped forward. Commodities giant Cargill has linked with trading house Mitsui & Co to order two kamsarmax bulk carriers at Japan's Tsuneishi Shipbuilding. The landmark vessels are scheduled to deliver ...
Copper heist at Chilean port Chilean police are investigating a violent heist at the country's top port earlier this week, with robbers making away with 13 containers containing millions of dollars of copper belonging to state-owned Codelco. Ten armed men entered San Antonio port early on Tuesday morning, attacked workers and stole the containers containing $4.4m worth of copper plates. ...
IFCHOR Galbraiths merger signed Shipbrokers IFCHOR and Galbraiths have completed the signing of their merger agreement, unveiling a new logo in the process. The new entity will comprise of 21 offices with over 300 employees. Pictured above is Manu Ravano, co-CEO of IFCHOR with Bjorn Andersen, the CEO of Galbraiths, at a recent meeting in Lausanne to seal the ...
American faces lengthy jail sentence over Iranian LPG shipments Behrouz Mokhtari, 72, of McLean, Virginia, and Tehran, Iran, a naturalised US citizen, has pleaded guilty this week to two separate conspiracies to violate sanctions imposed by the United States on Iran. Mokhtari created a Panama-based front company, East & West Shipping, to purchase two liquid petroleum gas (LPG) tanker vessels to transport Iranian petrochemical ...
Flexport to let go of 20% of its workforce Flexport, a well-known American digital freight forwarder, is letting go of 20% of its staff. Co-CEOs Dave Clark and Ryan Petersen, writing to staff, cited the macroeconomic downturn that has impacted businesses around the world for the decision to axe around 600 staff. Flexport is expecting shipping volumes to slump this year. "Lower volumes, combined ...
Two feared dead as Chinese tanker explodes and splits in two An empty tanker exploded and split in two on Tuesday afternoon in Chinese waters. Search and rescue teams managed to save 15 crew members from the stricken Hong Pu 6 tanker off Rizhao in the Yellow Sea. Two seafarers remain unaccounted for despite a large search operation. The Chinese flagged, 10,500 dwt tanker was built ...
Chile's San Antonio container terminal set for capacity boost Chile's San Antonio Terminal Internacional (STI) last week received from China two super post-panamax ship-to-shore cranes and two electric rubber-tired gantry cranes, which will increase the terminal's transfer capacity to 1.6m teu. The $23.5m investment in this equipment will enable the terminal to serve two super post-panamax ships simultaneously, something no other terminal in Chile ...
Seanergy to buy up half of 'dilutive' warrants US-listed owner announces capesize acquisition, while agreeing to sell older pair to United Maritime
Norvic Shipping aims to expand fleet with longer-term charters US-based, family-owned dry bulk operator signs long-term charter deals for three Japanese newbuildings
UK shipping needs institutional investor funding to reach net zero Report suggests a leasing model to overcome the hurdle of funding by large institutional investors in the domestic maritime industry
P&I clubs pushing hard on double-digit general increases At least nine of the current 13 International Group affiliates are seeking rate hikes of 10% or more, in the...
US releases first green blueprint for transport sector The cross-agency strategy sets to achieve an 80%-100% emission reductions across the transportation sector by 2050 and says more detailed...
Carriers see little cheer from Chinese New Year Any hopes that demand would resume ahead of the Lunar New Year holiday have been dashed. Carriers instead are focusing...
Flexport reorganisation sparks doubt over digital forwarding hype US tech start-up's job cuts reflect predicament facing the broader logistics sector and even cargo owners, where many companies in...
Piracy at lowest level in almost three decades Big improvements in Gulf of Guinea and noticeable decline in Central and Southern America, but Singapore Strait remains cause for...
Ship recycling bounces back after lowest activity in 15 years Cooling markets in the containership and dry bulk sectors have already driven an upturn in ship recycling levels
Daily Briefing Cargill kickstarts methanol bulkers with first kamsarmax order | Euronav 'considering options' after Frontline scraps merger agreement | Ship brokerages...
Marco Polo to pursue offshore wind projects in South Korea The partnership marks Marco Polo's entry to the new South Korean market following expansion into Taiwan and Japan
Freight traders to establish breakaway association from Baltic Exchange Baltic Exchange has long coordinated similar group under auspices of the FFA Brokers' Association with traders' representatives
Cargill and Oldendorff are top dry bulk charterers Fixtures represent a small percentage of the 4.9bn tonnes of dry bulk commodity freight tracked during year
Plunge in trans-Pac rates, volumes sink Q4 revenues for Taiwan carriers Despite the fourth-quarter crash in revenues, all three Taiwan-based carriers still booked record revenues for the full year, suggesting they will report bumper profits for 2022.
Domestic intermodal rail volumes likely to slip after 2022 uptick As consumer buying patterns return to a more normal mix of goods and services in 2023, domestic intermodal providers will have to find a way to fill a huge influx of boxes ordered during the pandemic.
Zim wades into trade finance market with startup investment Zim has joined a growing group of companies that see potential in giving small importers and exporters access to digital finance tools through an investment in an Israel-based startup.
West Coast cargo bleed to continue until labor talks are resolved: stakeholders The West Coast's share of US imports from Asia will continue to deteriorate in the first quarter and beyond until terminal operators and the International Longshore and Warehouse Union agree on a new contract, sources say.
Don't confuse ocean market collapse with carrier weakness: analyst Despite the collapse in spot rates, ocean carriers are fundamentally in a stronger position than in the past, and shippers would be wise not to confuse a temporary downcycle with the liners' structurally stronger long-term position, writes analyst Lars Jensen.
Anthony Gurnee eyes 2023 'surprises' after Ardmore's chart-topping year Irish product tanker owner led all 25 stocks in Jefferies Shipping Index with 326% gain in red-hot 2022 rally
Chinese oil demand indicators pointing up but VLCCs still languish VLCC rates lost ground for the 13th consecutive trading day on Wednesday
Cargill teams up with Mitsui to pull the trigger on first methanol-fuelled bulker order Agricultural giant turns to Japan's Tsuneishi Group to build dual-fuel kamsarmaxes
Port of Houston faces greatest risk from extreme weather, study finds Study warns of multi-billion dollar cost to vital infrastructure and trade disruption from climate change-related damage
No 'fear of heights' for Scorpio as Clarksons tips big value rise US product tanker owner is enjoying both rising spot rates and strong term earnings
Hapag-Lloyd and MSC expand in Italian terminal sector German line completes Spinelli deal while MSC sister company acquires terminal in Livorno
Norvic Shipping kickstarts fleet expansion with long-term Japanese ultramax charter Deal follows big working-capital loan secured from a consortium of US banks
US federal judge OKs sexual assault lawsuit against Crowley Employee in El Salvador says the company threatened to fire her if she did not go to Florida with an abusive boss, who raped her
MPP market corrects as competition grows from rival sectors Rates are down 10% in a month
D'Amico saves $14m on market price by buying MR tanker out of lease Bargain buy is the latest in a string of deals proving too good to miss for Italian owner
Shipping prepares for 'complex' trades with new oil price caps Officials are discussing price cap levels for a second-wave of economic sanctions to be introduced on 5 February
Cyber attack on DNV forces it to shut down its ShipManager software servers Norway-based group is the second classification society to have to shut down some servers in response to a cyber attack in the last couple of years.
No 'fear of heights' for Scorpio as Clarksons tips big value rise US product tanker owner is enjoying both rising spot rates and strong term earnings
Streetwise: Ireland's Ardmore and the tanker group led 2022 stock gains Weekly finance newsletter looks back over the winners and losers in US-listed shipping stocks in 2022
Meet the maritime heating and cooling specialist who fights fires Volunteer firefighter Jonna Tiainen quit academia to become a thermal design specialist and make shipping more sustainable
New owner sought as CTV player World Marine Offshore goes bankrupt Danish company had been sued in the US over a wind farm venture dispute
Multipurpose market corrects as competition grows from rival sectors Weakening demand has seen charter rates fall faster-than-expected
Offshore wind boom to spark $26bn vessel spree, says Clarksons Research chief predicts investment bonanza across installation and service vessels as project developers pursue global ambitions
CMB's Windcat partners Eneco as it recruits CSOV experts Groups will cooperate on hydrogen fuelling
Tschudi Group shifts chartering and management department to Oslo Freight team to relocate from Denmark to be next to main group headquarters
Flags that let owners flout their own laws should feel the consequences Hanging a flag on a ship is a farcical ceremony that deserves no respect if states have no intention of enforcing laws
Banaszkiewicz leads breakaway FFA association to fight for freight futures Head of derivatives broker Freight Investor Services has been instrumental in setting up new association
Hoegh Autoliners expects strong rates this year as cargo mix normalises December freight earnings slumped as manufacturers moved out more light vehicles on legacy contracts
Banaszkiewics leads breakaway FFA association to fight for freight futures Head of derivatives broker Freight Investor Services has been instrumental in setting up the association
'Game changer': First 3D ship design model makes it to class approval Damen Engineering Gdansk, Napa and Bureau Veritas reveal insights into their collaboration
LNG bunker vessel supply crunch looms as newbuildings multiply Pressing demand could see the need for closer cooperation between bunker buyers and sellers on specialised supply ships
SFL Corp eyes new bond issue as $138m convertible maturity looms John Fredriksen company wants to refinance earlier debt
MSC to reshuffle P&I cover ahead of North and Standard Club mega-merger Merging mutuals head for amicable agreement to keep giant container ship cover spread over several clubs
Tanker premiums 'out of this world' as Greek owners persuaded to sell Aggressive buyers are convincing companies to offload vessels they had intended to retain
Two missing after Chinese tanker torn in two by explosion Search failed to find seafarers lost in blast off Rizhao
Spotlight falls on Fredriksen and Saverys as the dust settles on junked merger Two men will have the biggest say when Euronav and Frontline consider their next moves as dust settles
KNOP slashes dividend by 95% on shuttle tanker woes Company describes move as 'prudent' until it has a greater forward visibility on earnings and liquidity
Marco Polo and Namsung Shipping target South Korean wind market Offshore company and container line also teaming with HA Energy to target growing market
Airfreight industry watches for signs of midyear recovery A year ago, shippers were in scrums to find cargo space on airlines. The market has softened considerably and 2023 could see more declines before things get better.
Trucker age-exemption bill reintroduced in new Congress Legislation aimed at "fixing the supply chain" would allow drivers under age 21 to haul freight to and from ports.
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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