UN buys VLCC to avert Red Sea pollution catastrophe The FSO Safer, a decaying tanker holding four times as much oil as spilled by the Exxon Valdez is a ticking time bomb threatening a Red Sea catastrophe. Yesterday, the United Nations
Two U.S. RO/RO operators opt for Orca AI U.S. based ship operators, American Roll-On Roll-Off Carrier (ARC) and Liberty Maritime Corporation, are to deploy the Orca AI automated situational awareness platform across their RO/RO fleets. Liberty was one of the
NASSCO and Navantia in offshore wind MOU GD NASSCO is eyeing its opportunities in the offshore wind sector. It has signed a Memorandum of Understanding with the Navantia Seanenergies division of Spanish state-owned shipbuilder Navantia that will see the
Stanlow Terminals to build green ammonia facility in Liverpool Stanlow Terminals has announced plans to develop a major new open-access import terminal for green ammonia in the Port of Liverpool. The new terminal, which will be an expansion of Stanlow Terminal's existing facilities, will provide the connecting infrastructure to enable significant volumes of green ammonia to be imported into the United Kingdom. Feasibility studies are currently being undertak
Globe Tracker equips Maritima Alisea reefers with IoT technology Globe Tracker, provider of Internet of Things (IoT) tracking and monitoring solutions for logistics assets, has deployed IoT devices installed on reefer containers of Maritima Alisea, one of the premier ocean carriers involved in the perishable trade in Spain. Maritima Alisea has a modern fleet of 45' refrigerated containers and is part of Alonso Group logistics division. According to Globe Track
Port of Riga announces opening of two new warehouses Two modern covered warehouses with a total area of 10,000 m² were put into operation in February in the territory of the company Rigas Centralais Terminals (RCT) of the Port of Riga in Latvia. These warehouses will be able to store up to 48,000 tonnes of bulk cargo, such as grain or wood pellets, as well as general cargo that require storing in closed-type warehouses. According to the port, Rigas
More vessel operators join lucrative India-Russia trade lane Ruscon, a leading multimodal transport logistics provider in Russia, has significantly expanded its containerised service network from the Black Sea port of Novorossiysk to Nhava Sheva (JNPT) and Mundra in West India as volumes rapidly rise. The company, a Delo Group subsidiary, has now increased its tonnage deployments from one vessel to four vessels to provide a weekly sailing frequency on the
SITC realised nearly US$2 billion profit in 2022 SITC International Holdings, the holding company of Hong Kong-based intra-Asia carrier SITC Container Lines, has announced that its net profit went up by 67% on-year in 2022, to US$1.9 billion. The Hong Kong-listed group said that its turnover was up 37% year-on-year, to US$4.1 billion, as it carried 4% more containers, amounting to 3.26 million TEUs in 2022. Up till mid-2022, freight rates were
MSC receives largest container ship in the world Shanghai-based Hudong-Zhonghua Shipbuilding (Group) built and delivered the largest container vessel in the world to Mediterranean Shipping Company (MSC). MSC Tessa has a container capacity of 24,116 TEUs and is the first of four same-size container ships purchased by the largest container line in the world. According to Hudong-Zhonghua, a unit of China State Shipbuilding Corp (CSSC), the vessel
YILPORT integrates Navis TOS into Portuguese box terminal Turkish port operator Yilport Holding announced the successful completion of the Navis Terminal Operating System (TOS) integration in YILPORT Leixões, a container terminal in the north of Portugal. Integrating a conventional TOS system into the terminal is a big shift forward for YILPORT because it will serve as the foundation for any level of automation, equipment/truck detection systems, and ot
Wisdom Marine boss James Lan launches Taiwanese coastal box line Taiwanese ferry operator Brave Line, a company owned by shipping tycoon James Lan, who is also behind Taiwan's largest dry bulk shipowner Wisdom Marine, has started a coastal container shipping service between Budai and the Penghu Islands (Pescadores). Brave Line decided to start a service after merchants in Penghu Islands stated that there was a shortage of container shipping capacity to bring t
Hapag-Lloyd increases rates from Middle East to US Hapag-Lloyd announces a new general rate increase (GRI) / General Rate Adjustment (GRA) from the Middle East to the United States for cargo transported in 20' and 40' dry, reefer and special containers, including high cube equipment. The new rate increase will be applicable to all containers gated in full from 29 March 2023 and will be valid until further notice, according to the German carrier.
US$10.3 million front street beutification project starts at Port of Los Angeles Tim McOsker, 15th District Los Angeles City council member and officials from the port of Los Angeles broke ground on the US$10.3 million Front Street Beautification Project on the Los Angeles Waterfront. The project aims to enhance connectivity and public access to the LA Waterfront for both Wilmington and San Pedro. According to Port of Los Angeles, the Front Street Beautification Project will
Port of Rotterdam supports green hydrogen project at Maasvlakte Uniper has selected Plug Power Inc. to design the electrolyser technology for Uniper's Maasvlakte site at the port of Rotterdam. At the Maasvlakte Energy Hub, Uniper plans to commission 100 MW of Plug electrolysis capacity to produce green hydrogen by 2026, expanding that capacity to 500 MW by 2030 at the latest. According to the statement, the Rotterdam port area, which encompasses Maasvlakte, i
BW Offshore and SwitchH2 develop green ammonia floater concept Netherland-based SwitchH2 and BW Group's FPSO owner and operator BW Offshore have developed an industrial scale concept for green ammonia floating production unit. The so-called NH3 FPSO concept is expected to be built through the conversion of an existing very large crude carrier or a dedicated newbuild vessel. The wind-powered unit will produce hydrogen by ...
Lomar ships out vintage chemical tanker UK-based diversified owner Lomar Shipping has sold the 2003-built chemical tanker to UAE's Navigator Line Ship Management and Operation for around $10m. The Croatian-built 24,000 dwt ship has already been delivered and renamed Deniz. The vessel was the oldest of six chemical tankers, including four 38,000 dwt units, that joined Lomar's fleet following the acquisition ...
Eidesvik Offshore scores another PSV deal with Wintershall Dea Norway's Eidesvik Offshore has secured more work for its platform supply fleet with Wintershall Dea. The Oslo-listed shipowner has fixed its 2008-built PSV for one year, starting in the second quarter of 2023. Wintershall Dea has options available for further extensions. The new deal comes hot on the heels of Wintershall Dea's contract extension for ...
CK Hutchison earmarks Hong Kong repair yard for property development Another visible part of Hong Kong's maritime heritage looks set to be transformed into a real estate development. A proposal has been submitted by the owner of Hongkong United Dockyards (HUD Group), a yard group that can trace its history back to the middle of the 19th century, which would see the repair facility transformed ...
BW Offshore offloads FPSO for $125m Floater specialist BW Offshore has struck a deal to sell its floating production storage and offloading vessel for $125m. The sale to an undisclosed third party is subject to conditions precedent and is expected to be completed by the end of the first quarter of 2023, BW Offshore said. The Oslo-listed company also revealed talks ...
2005-built VLCC committed for $52m Japan's Mitsui OSK Lines (MOL) is on the cusp of achieving a new high for vintage tanker tonnage. Broking sources tell Splash MOL has committed the 18-year-old, 311,000 dwt to Chinese interests for $52m. If the sale goes though, MOL will be left with a fleet of 20 VLCCs with an average age of 13 ...
ONE 'actively pursuing M&As' Japan's Nippon Yusen Kaisha (NYK), one of the world's largest shipping companies, has unveiled its latest medium-term business plan through to 2026, which aims to position the company as a leader in decarbonisation. Among the more intriguing parts of the detailed business plan, NYK, the lead shareholder in containerline Ocean Network Express (ONE), said that ...
Russia looks at exporting Siberian coal to Asia via the Yenisei river Russia is looking at shipping Siberian coal to Asia via Arctic river transport. The ministry of transport has proposed using the ports of Krasnoyarsk and Lesosibirsk for pilot shipments of coal along inland rivers starting this summer. "The readiness of the infrastructure of inland water transport to ensure the export transportation of coal, lumber, grain ...
Siem Offshore fixes AHTS to Helix for offshore wind work in Taiwan Norwegian offshore vessel player Siem Offshore has been awarded a medium-term contract by Helix Energy Solutions' marine contracting business unit Helix Robotics Solutions for the 2010-built anchor handling tug supply (AHTS) vessel . The 4,250 dwt vessel, which previously worked in Australian waters, will be employed for a project within the offshore wind industry in ...
Dutch entrepreneur seeks to build ship recycling plant in Saudi Arabia Saudi Arabia looks set to offer the world a new ship recycling destination. Wreckdock has just been launched as a new company and is seeking investors to come onboard a green ship recycling plant in Saudi Arabia which will feature four drydocks and eight quays, capable of dismantling any ship within a fortnight. The company's ...
Busan to install high-bay container storage system DP World has announced the first commercial use of its BOXBAY high-bay storage system at its terminal in Busan, South Korea. A contract was signed between Pusan Newport Corporation (PNC) and Boxbay FZCO - a joint venture of DP World and German plant technology supplier, SMS group - initiating the design and engineering works for ...
UN buys Euronav VLCC as operation to move oil from decaying FSO gets moving The United Nations Development Programme (UNDP) has found a solution of sorts to a pressing environmental concern off the coast of Yemen. The UN body yesterday signed an agreement with Euronav, paying $55m for a VLCC as part of a UN-coordinated operation to remove more than one million barrels of oil from a decaying FSO ...
TGS expands multi-client offshore wind campaign to five locations on US East Coast Norwegian company TGS, a global provider of energy data and intelligence, has announced a significant expansion to its multi-client offshore wind and metocean measurement campaign off the US East Coast. In addition to its floating LiDAR buoy in the New York Bight, TGS has announced four further deployments, one offshore Massachusetts, two covering the impending ...
Dark fleet of tankers now comprises 10% of seaborne oil transport Some 440 tankers above 30,000 dwt tonnes, with an average age of 20 years, have been identified as solely deployed...
Middle East oil and gas exports boosting economic diversification There had been a notable acceleration in Gulf Cooperation Council states' efforts to advance the production of renewable energy, both...
Global grains trades to offer some support to bulkers Challenges related to Black Sea grain movements notwithstanding, a strong soyabean season from Brazil should outweigh a drop in corn...
Ingosstrakh confirms P&I cover for sanctioned Russian shipping 'We are indeed now studying how we should work on the international P&I insurance market in the current circumstances,' company...
The Lloyd's List Podcast: Why the box sector is in for a bumpy ride The container sector is grappling with looming overcapacity and plummeting rates, against the backdrop of a post-pandemic slowdown in container...
BW Offshore gets DNV approval for floating ammonia production unit BW Offshore and the Dutch company Switch2 plan to either convert a very large crude carrier, or use a newbuild...
The health of the oceans is shipping's problem too An industry that routinely allowed garbage to be dumped overboard until just 10 years ago needs to get with the...
Carrier customers seek reliability to reduce inventory costs After the supply chain disruptions of the past two years, cargo owners have had to build up buffer stocks. But...
Cruiseship sector advancing decarbonisation strategy 'Daily conversations are taking place between class and owners on the best alternative fuel solutions, but methanol seems the most...
NYK puts ESG at core of $9bn growth plan Strategy includes a $1.5bn share buyback plan with the Japanese giant expecting a sharp correction in profit
GSBN tests blockchain solution for safer shipping of chemical cargoes Shipping network has completed a venture with Cosco Shipping, OOCL and a research institute, on the exchange of safety certificates...
Investors price in carriers' change in fortunes Shares in listed container lines fell steeply last year as investors took their profits. But a recent return to growth...
Navios Holdings sees 'healthy growth' for logistics business Port terminals and cabotage segments increased revenues in fourth quarter, while barge business dipped
Daily Briefing UN buys Euronav VLCC to avoid environmental disaster | Sinopec fuels speculation over China relaxing export quota | UN chief calls...
MOL offsets emissions from iron ore sailing with carbon credits Emissions were offset by carbon credits from Rimba Raya Biodiversity Reserve project in Indonesia
Navigator agrees venture to boost ethylene exports Potential total ethylene export capacity is expected to be more than 3m tonnes per year by the end of next...
Castor posts record profits as new tanker firm Toro rises The spin-off represents a dividend for Castor shareholders
OCEMA appeals chassis ruling to FMC commissioners The Ocean Carrier Equipment Management Association says the FMC's chief administrative judge erred in issuing a summary judgement against the group because key facts are still in dispute.
Drayage tech provider PortPro targeting shippers with new tracking tools Drayage software vendor PortPro is attempting to narrow the gap between the tools that port truckers and their shipper customers use with a new container milestone tracking product it has launched.
Multipurpose vessel rates may be at post-COVID bottom: Toepfer The MPV sector's market correction appears to have bottomed at rates still healthy for owners and carriers, even as the sector feels pressure from minor bulk carriers hunting for cargo.
Shippers unite in push for carriers to scale up use of zero-carbon fuel Shippers are keeping pressure on carriers to decarbonize their operations with the launch of another US-led initiative to speed up container shipping's transition to fossil-free fuels.
Carriers not reliable enough to warrant cut in inventory levels: BASF Shippers in Europe are stuck with excess inventory at a time of slowing demand, in part because their lack of confidence in the on-time performance of carriers has led to hesitancy to pare down stocks.
Zim suspends expedited China-US service as pandemic market unwinds Zim is suspending a two-year-old trans-Pacific service, while beefing up a Southeast Asia-US East Coast route, as weakened Chinese imports and too much capacity have combined to pull down container spot rates.
New NS Norfolk-Memphis service aims to grab East Coast cargo shift Norfolk Southern and the Port of Virginia are not only targeting importers using trans-Atlantic services from Europe and Asia, but also exporters moving goods through Memphis, such as the cotton industry.
Bulge-bracket bounceback? JP Morgan ramps up shipping coverage with Scorpio rating Finance giant takes up research on Emanuele Lauro-led company for first time in 12 years
Fixture frenzy: VLCCs peak over $100,000 per day amid flurry of activity Big tankers make major strides this week, with three fixtures in six-figure territory
Sentiment flips: Capesize bulker sector improves fivefold in 21 days since hitting nearly three-year low Broker attributes sector turnaround to China's robust manufacturing, better weather in Brazil and Australian mine maintenance ending
Ukraine war prompts EU to beef up maritime security New threats to submarine infrastructure in Europe's northern seas require new responses, the 27-bloc argues
Intercargo warns of food shortages if Black Sea grain deal stops As Russia drops hints of not renewing the deal, bulker shipowners point to fertilisers as a key scene to watch
VLCC surge likely to boost smaller tankers in trickle-down effect Demand from China and longer voyages has created a supply squeeze for the biggest tankers in shipping
Editor's selection: Case slams Russia brokers, boxship scrapping floodgates to open and Himalaya eyes IPO TradeWinds brings you a snapshot of some of the important stories of the week
D Oltmann Reederei splashes out $80m to buy Danish boxship biggie German shipowner moves into 10,000-teu segment in deal with Denmark's Navigare Capital
Heidmar adds two more tankers as it hunts development and S&P hires Pankaj Khanna's pools operation continues on expansion path
Project Greensand scores a world first as cross-border CCS operations kick off Containerised shipments of CO2 pave way for liquefied shipments in future as initial volumes are injected into North Sea reservoir
Safe Bulkers not afraid to order new ships despite fuel uncertainty Greek owner's president explains that the average age of its vessels needs to hold at 10 years
Has a shifting investor mindset left shipping facing an age crisis? The world fleet is starting to get dangerously old and inefficient as shipowners shun the newbuilding market
Ince defections continue as global boss Julian Clark's role 'phased out' Senior partner's three-year deal will not be renewed after April as experienced lawyer heads to Gard
'Very Large Cash Cow': VLCCs break out as rates head to $100,000 per day Tanker demand is being fuelled by Chinese oil traders and refineries capitalising on China's rising oil consumption
E-commerce giant Amazon backs Zemba in the launch of container freight buyers club Cargo giant lends its weight to newly formed Zero Emission Maritime Buyers Alliance
US military offers help as Philippines tanker spill spreads Coral reefs and mangroves have been affected, according to local reports
BW Offshore banks $125m from ship sale as it eyes ammonia FPSO project Norway-based shipowner offloads the BW Opportunity as it reveals future-fuels venture with SwitchH2
Yang Ming eyeing new opportunities as profit hits record $6bn Taiwanese container line pledges to explore growth while optimising current operations
Performance Shipping heads to China for aframax newbuilding Greek shipowner announces $62.6m deal with Shanghai Waigaoqiao Shipbuilding
Japanese shipping giant NYK Line reveals $1.4bn treasury stock acquisition as it launches business plan Tokyo-listed outfit to expand its business around decarbonisation and digitalisation
Navigator splashing up to $130m on boosting exports from its ethylene terminal Shipowner says more growth planned at Morgan's Point facility in Texas
Nuclear-powered ships 'certainly not viable', says campaigner Reactors powering ships was a hot topic at TradeWinds' forum on Thursday, with a bucket of cold water thrown on it at the end
CMB plan for Euronav is 'light on detail', says investor proxy advisor Glass Lewis is backing Euronav board's recommendations for vital vote later this month
Eastern Pacific Shipping's Cyril Ducau opens up on $1.8bn bid to cut carbon ESG trendsetter says it will eliminate 10m tonnes of CO2 using technology that works and is available right now
UN strikes $55m VLCC deal with Euronav to replace 'timebomb' tanker 'Let's protect our oceans': CEO Hugo De Stoop outlines rescue operation for FSO Safer off Yemen coast
Idan Ofer gets in the saddle to support Singapore racers Eastern Pacific Shipping has become the premier sponsor of Allied World Quantum Racing
Nuclear-powered ships 'certainly not viable', says detractor Reactors powering ships was a hot topic at TradeWinds' forum on Thursday, with a bucket of cold water thrown on it at the end
For VLCC read Very Large Cash Cow as rates head to $100,000 per day Tanker demand being fuelled by Chinese oil traders and refineries capitalising on China's rising oil consumption
Crude shipping revs up; supertanker rates top $100,000 a day With virtually no new ships on order and demand strengthening, the tanker business seems poised for a bull run.
Latam Cargo launches flower flights to Los Angeles Latam Airlines' cargo division is diversifying routes for flower exporters with a new destination in Los Angeles.
Freighters flying fewer hours underscores market weakness in air cargo Flight hours are a proxy for air cargo demand and the amount of time all-cargo aircraft are flying is falling.
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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