John Fredriksen seeks seat on Euronav board In the latest plot twist in the ongoing drama following the collapse of the planned tanker mega merger of Euronav and Frontline, Famatown Finance Limited today announced that it intends to propose
VIDEO: Michelin inflatable wing sail system marks a milestone An inflatable wing sail system developed by Michelin has marked a milestone. The sail has now been awarded an Approval in Principle (AiP) by classification society DNV. This is the first AiP
Port of Tallinn cooperates with compatriot energy company to develop offshore wind farms The Port of Tallinn and Utilitas Wind, a renewable energy producer and district heating company in Estonia, have inked a Memorandum of Understanding (MoU) to accelerate the development of offshore wind energy in the country and the Baltic States. Cooperation with Utilitas, according to Valdo Kalm, CEO of the Port of Tallinn, represents the port's rising role in the development of renewable energy
Shanghai Composite Index falls into triple digits The Shanghai Containerized Freight Index (SCFI) issued after Chinese New Year 2023 saw the index fall into the triple digits, closing at US$995 for the week ending 10 February 2023. This was a level last annexed in January 2020, the opening days of the pandemic phase. However, that wasn't a first. These levels were seen in 2012, 2015 and 2017, indicating that the spot rates at least have now hit
ONE adds Hakata port call in East Asia service Ocean Network Express (ONE) announced that it will add a call at Hakata in Japan to its weekly Japan Vietnam Haiphong (JVH) service, linking Haiphong in Vietnam with Hakata in travel times of exactly five days. The new rotation will be effective from 15 March 2023. The new JVH service will expand ONE's port coverage in Japan, Taiwan, and Vietnam by providing the shortest transit time from Kaohsiu
MSC reintroduces Asia to Mediterranean service MSC has announced that the DRAGON service connecting Asia to Israel, Italy and the South of France will return in the next month. MSC claims that this service will deliver fast connections into Tyrrhenian region and South of France. The Swiss/Italian container carrier said the newly introduced call at Ashdod Hadarom in Israel will allow them to offer full coverage of Asia in the Israeli market, t
CMA CGM vessels to call new terminal in Egypt CMA CGM has invested in a new terminal in Alexandria port, Egypt, which is currently able to accept the French line's GETEX and WEMED services. The 1,000 TEU vessel Atlantic Monaco will call at Alexandria TMT terminal on 9 February, followed by the 2,260 TEU boxhsip CMA CGM Fort Saint Pierre on 14 February. CMA CGM noted that with the deployment of this new Egyptian call, these services will no l
CMA CGM's Saadé inks collaboration deal with European parcel delivery firm Bosses of CMA CGM, La Poste and CEVA Logistics, Rodolphe Saadé, Philippe Wahl and Mathieu Friedberg respectively, signed a memorandum of understanding (MoU) to establish a closer business relationship between La Poste's subsidiary GeoPost and CEVA Logistics. The MoU was signed in Paris on 7 February and its purpose is to capitalise on the companies' respective expertise, services, and areas of op
Grimaldi Group invests in port of Amsterdam Through its subsidiary Amsterdam Multipurpose Terminal (AMT), the Grimaldi Group has acquired assets totalling approximately 200,000 m² in the Amerikahaven region of the port of Amsterdam, including storage spaces, neighbouring warehouses, and logistics areas, as well as two quays and a 20-year concession within the Dutch port. AMT bought the assets from the company EMA. Neapolitan Grimaldi Group
ZIM takes actions to support earthquake victims in Turkey ZIM donated and sent containers loaded with humanitarian aid and equipment, as a first phase in an aid effort for the victims of the earthquake in Turkey. The containers have already arrived in the affected areas and contain, among other essential goods, baby food and other emergency rations. ZIM has been operating in Turkey for many years through its representative office in Izmir and ZIM vessel
Product tanker rates surge in opening days of EU's latest Russia ban Tankers carrying heavy crude failed to bounce following the European Union's Russian ban in December. Not so, lighter products, where rates have leapt in the opening five days of the much discussed product ban, largely on the back of strong Asian demand. Vortexa notes MR tonne-miles out of East Asia towards Southeast Asia have surged ...
2020 Bulkers extends charters on two newcastlemaxes 2020 Bulkers has converted and extended the index-linked time charters for two newcastlemaxes, Bulk Shanghai and Bulk Seoul, to fixed rate charters from today until September 30 at a rate of $22,850, gross, including scrubber benefit. Following the fixed rate charter periods, both time charters have been extended with six months index-linked charters. The Norwegian ...
A chance to 'restore serenity': CMB makes its case to replace the Euronav board The top two shareholders in Euronav have made their next moves in the protracted takeover saga for one of Belgium's top shipping names. The Saverys family-controlled Compagnie Maritime Belge (CMB), Euronav's top shareholder with a 25% stake, is pushing shareholders to replace the existing supervisory board at the tanker company, something that will be due ...
Saadé seals partnership with La Poste A memorandum of understanding has been signed by Philippe Wahl, chairman and CEO of La Poste, Rodolphe Saadé, chairman and CEO of liner giant CMA CGM, and Mathieu Friedberg, CEO of CEVA Logistics. The memorandum of understanding concerns establishing a closer business relationship between the La Poste subsidiary GeoPost and CEVA Logistics, a subsidiary of ...
Last remnants of the X-Press Pearl ready to depart Sri Lankan waters Nearly 21 months after it sank following a huge fire, the last remnants of the wreck of the containership are expected to be cleaned up off the Sri Lankan coastline in the coming few days. China's Shanghai Salvage has been working to remove the ship for the past few months, cutting it in half as ...
New white paper calls for 'data democratisation' to improve maritime sustainability French digitalisation expert Opsealog has launched a white paper calling for greater data sharing across supply chains to help achieve shipping's decarbonisation and sustainability ambitions. The report calls for a more collaborative approach to digitalisation in the maritime sector, so that all organisations can contribute their data insights and collectively share the benefits. It argues ...
Vestas unveils circularity solution to end landfill disposal of turbine blades Vestas, a global manufacturer of onshore and offshore wind turbines, has announced a process through which epoxy resin can be chemically broken down into virgin-grade materials for reuse in new turbine blades. The process was developed through the CETEC project, a coalition of industry and academia established to investigate circular technology for turbine blades. "As ...
EverWind Fuels receives environmental approval for first industrial-scale green hydrogen and green ammonia project in North America Canadian green hydrogen developer EverWind Fuels Company has received environmental approval from the Government of Nova Scotia for the initial phase of its C$6b, 1m-tonnes-per-annum green hydrogen and green ammonia project located in Point Tupper, Nova Scotia. EverWind remains on track to deliver green ammonia to German off-takers E.ON and Uniper by 2025, achieving the ...
Transocean invests in DEME's Global Sea Minerals Resources Offshore driller Transocean has agreed to make an investment in Global Sea Mineral Resources (GSR), the deep-sea mineral exploratory division of DEME Group, in exchange for a non-controlling stake in the company. Transocean has agreed to make a small cash investment as well as contribute its stacked drillship for GSR's ongoing exploration work. It will ...
GC Rieber Shipping takes full ownership of Polar Circle Norway's GC Rieber Shipping has entered into an agreement with Maas Capital Offshore to buy its 50% share of 2006-built icebreaking tug . The deal will give GC Rieber Shipping full ownership the vessel. Einar Ytredal, CEO of GC Rieber Shipping, commented: "Polar Circle, designed by GC Rieber Shipping and built in 2006, is a ...
Solstad continues to trim fleet with PSV sale Norway's Solstad has announced the sale of 2003-built platform supply vessel . Solstad said that delivery of the vessel to the new owner took place on February 9, and the sale of the vessel will result in a positive accounting effect to be reflected in its first quarter results. Since a 2017 merger between Solstad, ...
Shelf Drilling secures jackup extension Dubai-based Shelf Drilling has secured a one-year contract extension from Gemsa Petroleum Company for 1982-built jackup rig . The extension is in direct continuation of its current term with Gempetco for operations in the Gulf of Suez, offshore Egypt. The new deal keeps the rig employed through to February 2024. Shelf Drilling was founded in ...
The Lloyd's List Podcast: Why shipping's sanctions risk is here to stay The impact of sanctions against Russia may be politically underwhelming, but that doesn't mean they are going away any time...
Citibank has 30,000 compliance professionals. How many has your shipping company got? The Russian price cap could easily see some shipowners who try to stay just within the rules find themselves just...
Norden balances bulkers and tankers to deliver record earnings Norden's prudent timing to flip the majority of its chartering exposure from dry cargo to tankers allowed its freight services...
Port operator denies structural damage at Turkey's Iskenderun The earthquakes that struck Türkiye and Syria claimed the lives of more than 21,000 people with over 75,000 injured
European demand for Russian LNG is still there, says Novatek chairman Novatek chairman expects Europe to buy up to 50m tonnes of LNG to replace Russian pipeline gas
Handysize bulk carrier joins Russia's grain plundering operation The bulk carrier recently changed its name and flag and has shut off its Automatic Identification System while travelling in...
Lloyd's List launches Decarbonisation Survey Lloyd's List's second Decarbonisation Survey - in association with Lloyd's Register - adds 'carbon clarity' to the industry's decarbonisation debate...
Boluda to acquire Smit towage business Acquisition will help boost Boluda's global reach. Deal still requires regulatory approval and no financial details have been given
UK-listed GPI to redomicile to Russia A vote will be held on moving terminal operator's headquarter from Cyprus to Russia. Under Russian law, it global depository...
Trafigura writes off $577m over alleged nickel shipping fraud Some containers were found not to contain nickel, Trafigura said
Daily Briefing P&I renewal round heats up | ICBC manager is latest executive targeted in China's anti-graft crackdown | US sanctions Iranian...
Shipowners urged to scrutinise shipyards selected for recycling Owners must exercise vigilance to ensure that the recycling yards they select meet the Hong Kong Convention Standards, says company
Zim adds capacity, frequency to its Asia-US East Coast service Zim's eCommerce Baltimore Express, which makes its first US call at Baltimore, will see a capacity boost of "nearly 50 percent."
FMC judge ruling on chassis will have major impact, but questions linger A decision by an FMC administrative judge on chassis usage will shake up the way chassis are provisioned for ocean containers, but there are several unknowns on what the future will look like at ports and rail hubs.
West Coast labor talks resume after T-5 dispute temporarily set aside: sources The resumption of negotiations between the ILWU and terminal employers can be viewed as a case of both sides feeling external pressure to get a deal done, especially with stakeholders growing increasingly displeased at the cargo bleed from West Coast ports.
High full-year rate levels offset OOCL's poor Q4 performance It might have been a fourth quarter to forget for OOCL as volume and rates tumbled, but a strong performance through the rest of 2022 has put the carrier on course for another profitable year.
Zero-carbon fuel crucial in meeting EU truck emissions targets: transport groups Meeting the EU road emissions targets will not be achieved by focusing exclusively on electric vehicles, with the combustion engine likely to play a significant role over the next two decades.
Nigeria's Dangote refinery tapped to create more tanker shuffling Europe could need to look further afield for crude barrels, while more products will stay at home, Gibson Shipbrokers said
DHT Holdings paid a fat dividend and investors didn't miss it Clarksons Securities says new policy set at 100% of net income was behind 14% jump in company stock
Diana Shipping gets lower rate on two-year newcastlemax fixture New York-listed shipowner expects to make at least $14.9m off deal with SwissMarine
Proxy advisors weigh in behind $10.9bn deal to take Atlas and Seaspan Corp private ISS and Glass Lewis tell clients to vote for transaction that will see major shareholder delist the shipping group
Letter: The changing shape of marine insurance correspondent work Marine insurance clubs are increasingly designating correspondents in two categories: commercial and legal
VLCC rates dip as Russia signals 5% crude output cut in March Producer reacts to Western price cap but analysts remain positive on tanker prospects
ICS to put new proposal for fund-and-reward carbon levy to the IMO Scheme aims to narrow the gap between alternative and fossil fuels based on carbon emissions to help pay for a global transition to a net zero future.
Plugging the price gap for green fuels: are contracts for difference the answer? Environmentalists back CfDs as a route towards filing the price gap between conventional and green fuels but some within shipping are not so sure
Editor's selection: Costamare Bulkers' charter spree, trades hit by Russia sanctions and a fresh arrest in China graft probe TradeWinds brings you a curated look at the biggest and best stories of the week in shipping
Proxy advisors weigh in behind $10.9bn deal to take Atlas and Seaspan private ISS and Glass Lewis tell clients to vote for transaction that will see major shareholder delist the shipping group
Falling asset prices tempt Swiss and German container ship buyers to bite Atlanship, HS Schiffahrt and MSC keep the sale and purchase ball rolling
How world events have burst the bubble of 'business as usual' for shipping Maritime players must be nimble in an age of uncertainty as geopolitical spats, armed conflict and physical earthquakes disrupt the status quo
Iskenderun container fire put out, as Turkey trade faces long hurdles Earthquake damage is likely to affect southern Turkish ports for months, P&I club warns
False alarm: attack alert off Somalia was military live-fire exercise Maritime security group Diaplous had reported possible piracy incident
Solstad Offshore trims fleet further with sale of veteran PSV Norwegian owner continues to slim down to core fleet after financial restructuring
'Unfair to everyone': Greek shipowners set their sights on amending the IMO's intensity index The Union of Greek Shipowners has added its voice to the chorus of the gauge's critics
Maersk under fire after meeting ministers to lobby against global shipping tax Danish group has publicly said it is open to paying more tax, but private actions are called into question
Hoegh LNG secures $685m loan to refinance two Germany-based FSRUs Cash will be used to repay existing borrowing facilities on the vessels and corporate use
Norden books best profit in 151 years after volatile 2022 'Trading-oriented' owner-operator made money from weak dry cargo market and surging tanker market last year
X-Press Pearl wreck removal draws to a close Burned out wreck of container ship is to be recycled in Singapore
Boardroom battle heats up as Fredriksen aims for director role at Euronav Major shareholder joins rival Marc Saverys in seeking representation at Belgian tanker owner
Open borders deliver profitable 2022 for Malaysia Marine and Heavy Engineering MISC-linked ship repair company expects an uptick in offshore and eco-upgrade work going forward
Maersk turns to South Africa in cadet recruitment drive The country has 'high potential' as a source of seafarers, Danish giant says
Boluda buying 111-strong fleet of OSV and tug player Smit Lamnalco Spanish group says deal will make it a world leader in its sector
Spain warns ship-to-ship suppliers over Russian sanctions VLCCs collect Russian crude in the Mediterranean from smaller tankers before heading to Asia
Western Bulk returns to panamax market as it reports record result Owner says dry bulk market expected to face continued near-term headwinds, before starting another upward cycle later in the year
Samsung Heavy Industries down to last orphaned drillship, says analyst Nomura analyst says each vessel sold continues to boost the shipbuilder's balance sheet
Call China's crackdown on ship finance what it is: a purge China's ongoing investigation of ship finance is partly political, and observers should be careful about assuming financial misdeeds
Great Eastern keeping tankers in spot market on double the money Managing director Bharat Sheth says policy of keeping capacity open has paid off
Asian shipping lines are reporting steep revenue declines Ocean carrier revenues fell sharply in the fourth quarter versus the third and continued sinking in January.
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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