Matson mobilizes for Maui disaster response As the death toll from the wild fires devastating the Hawaiian island of Maui soared, Honolulu-headquartered Matson has mobilized to get emergency equipment and supplies to the island. The company said yesterday
Austal Australia delivers the latest Guardian-class patrol boat Austal Australia has delivered the 16th Guardian-class patrol boat to the Australian Department of Defence. The vessel was then gifted to the Federated States of Micronesia at a certificate signing ceremony held
MABUX reports moderate growth in bunker prices Marine Bunker Exchange (MABUX) global indexes showed moderate growth during Week 32 with the 380 HSFO index increasing by US$4 to US$558.48/MT, the VLSFO index adding US$5.44 to US$658/MT in the previous week and the MGO index rising US$3 to US$929.43/MT. The Global Scrubber Spread (SS), which indicates the price difference between 380 HSFO and VLSFO, increased by US$1.61 to US$104.16. The weekly
Euroseas achieves over US$55 million in H1 net income Greek vessel owner Euroseas reported total net revenues of US$89.6 million and net income of US$57.6 million in the first half of the year. Additionally, the company's adjusted net income for the period was US$50.7 million and adjusted earnings before interests, taxes, depreciation and amortization (EBITDA) reached US$56.5 million. The Athens-based shipping firm noted that an average of 17.52 ves
Valenciaport plans vehicle silo on South Quay 2 of the Port of Sagunto Valenciaport is planning the construction of a vehicle silo in the Muelle Sur 2 area of the Port of Sagunto. The project responds to the growing demand for surface area in the area, specifically the demand for the temporary storage of vehicles derived mainly from automobile traffic. The objective of the Spanish port is to draw up the design of a silo that will boost the storage capacity of vehicl
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PSA BDP, Dow India partner to create zero-emission transport corridor in Nhava Sheva PSA BDP, a supply chain, transportation and logistics solutions provider, has signed a Memorandum of Understanding (MOU) with Dow Chemical International (Dow India) to launch a first-of-its-kind sustainable transportation solution in India. Beginning in 2024, PSA BDP will deploy electric vehicles for import and export container trucking through PSA International's Mumbai, Ameya, and other termina
MSC and Maersk continue to send ships for break-up The world's two largest liner operators have continued to scrap aged ships as the freight market has normalised to pre-Covid-19 levels. Shipbrokers said that this month, MSC has sold the 1993-built 3,720 TEU MSC Erminia and 1999-built 1,837 TEU MSC Lana II for US$505/ldt and US$520/ldt respectively. As with the 1990-built 4,814 TEU MSC Federica, which was sold for US$515/ldt, the ships were sold
New container shipping line established in Dubai A new shipping company is starting operations and is going to enter Russia trade, according to DynaLiners report. CStar Line has been established in Dubai by undisclosed owners and will be headed by Zsolt Katona, who previously worked for Danish shipping giant Maersk. The new firm seems to have chartered 18 container ships with an overall box capacity of 23,000 TEUs. CStar Line seems to expect tw
APM Terminals orders 21 straddle carriers for its Barcelona facility APM Terminals (APMT) Barcelona has placed an order of four battery Konecranes Noell Straddle Carriers as well as 17 hybrid Konecranes Noell Straddle Carriers in the second quarter of 2023. APM Terminals turned to Konecranes for low- and zero-tailpipe-emission straddle carriers to assist its Spanish terminal meet its decarbonisation targets while maintaining reliability and efficiency. APM Termina
Imoto Lines deploys 1,000 TEU boxship in Sea of Japan service Feeder boxship Kaifu was built at the Kyokuyo Shipyard in Shimonoseki, Yamaguchi Prefecture, Japan and weights 9,662 gross tonnes with a container carrying capacity of 1,096 TEUs. It is a sister ship to the Kiso, which was built in June and is Imoto Lines' largest capacity vessel in Japan. Kaifu, which has the capacity of a short-sea container ship, will be deployed in the Sea of Japan service, c
Georgia Ports handles over 445,000 TEUs in July In July, the Georgia Ports Authority (GPA) reported 447,590 TEUs, a 17% increase over the 381,825 TEUs carried in the previous month. GPA's July performance represents a 16% decrease from the same month last year, which was GPA's busiest July on record with 530,800 TEUs. The update works in docks boosted annual berth capacity by 25% and allowed the port to handle vessels carrying 16,000+ TEUs. Me
Westports Malaysia aims to use electric Automated Guided Vehicles Westports Malaysia has revealed that it is actively investigating the viability of adding electric Automated Guided Vehicles (AGVs) into future terminal development plans. The company asks all manufacturers and suppliers of electric AGVs to submit a proposal with the following requirements. An electric AGV system should have capacity, navigation capabilities, safety features, and the ability to c
HMM fleet diversification continues with heavylift quartet order South Korean flagship carrier HMM has further accelerated its fleet diversification plans with an order of four heavylift newbuilds in China. The four 38,000-ton multi-purpose heavylift ships were ordered from Huangpu Wenchong, a China State Shipbuilding Corporation subsidiary. The heavylift ships will be equipped with three cargo holds, hydraulic folding hatch covers, and hoisting hatch ...
Solstad lands $100m in Brazilian vessel contracts Norwegian OSV owner and operator Solstad Offshore has bagged two contracts in Brazil worth a combined around $100m. The 1999-built construction support vessel Normand Pioneer has been awarded an extension of its charter contract with the Brazilian oil company PRIO for a period of 18 months keeping the vessel fixed until August 2025. In addition, ...
Polish gigawatt-scale offshore wind project presses ahead Poland's state-controlled Orlen has made a conditional investment decision for the country's 1.2 GW offshore wind project, Baltic Power, enabling the finalisation of the design phase. The Baltic Power, in which Orlen holds more than 51% of shares, with the remaining stake held by Canada's Northland Power, is the most advanced offshore wind farm project ...
TDI-Brooks expands offshore survey fleet US-based offshore surveyor TDI-Brooks is bolstering its vessel capacity with the addition of a 2000-built . The former offshore support vessel Nautical Geo is currently about 60% through its retrofit period in Las Palmas. It will be outfitted with TDI-Brooks' geotechnical tool kit including a suite of innovative geotechnical tools for soil sampling and measurement. ...
Saipem wins $700m worth of contracts with Eni and BP Italian energy services contractor Saipem has sealed a pair of new deals with energy majors Eni and BP worth a total of around $700m. The contract with Eni is for Saipem's semisubmersible drilling rig Scarabeo 5 to be converted into a floating production unit (FPU) and installed offshore the coast of the Republic of Congo. ...
Ukraine proposes 'humanitarian corridor' to allow stranded ships to depart Ukraine announced a "humanitarian corridor" in the Black Sea yesterday to release merchant ships stuck in its ports since the outbreak of war a year and a half ago. The move is seen as a challenge to Russia's naval blockade it has enacted in recent weeks since quitting a United Nations-brokered grain shipping pact. Insurers ...
Golar mulls options as Italian FSRU deal falls through Tor Olav Trøim's Golar LNG is looking into options for the 2003-built steam turbine carrier after its conversion plans with Italian energy company Snam did not materialise in time. In May last year, Snam signed up to convert the vessel into a 140,000 cu m floating storage and regasification unit (FSRU) for an energy supply ...
Höegh Autoliners inks construction equipment transport deal Norwegian car carrier player Höegh Autoliners has signed a five-year contract for the transport of construction equipment from Asia to Europe. The Oslo-based company did not reveal the name of the client but described it as a "major Japanese construction equipment manufacturer." "Our vessels are built with a substantial high and heavy capacity, and we ...
Insurers take fright as tensions rise in the Taiwan Strait With China facing economic headwinds Beijing has deployed a regular tactic to distract - sending its military toward the island of Taiwan, something that is happening on a more regular basis during Xi Jinping's third term as president of the People's Republic. China sent navy ships and a large group of fighter jets toward Taiwan ...
Iranian LPG carrier catches fire An Iranian LPG carrier caught fire yesterday in a blaze that quickly spread across the entire ship. TankerTrackers.com has been able to identify the ship as the Panama-flagged, a vessel that been spoofing over AIS at the time. The accident happened off the coast of Assaluyeh in Iran. All 22 were rescued. Five tugs ...
State bank takes over Russia's largest shipbuilder State-owned VTB bank has taken over the running of financially troubled United Shipbuilding Corporation (USC) at the behest of president Vladimir Putin. USC is the country's largest shipbuilder. It operates about 40 shipyards, design offices and repair yards across Russia, employing 95,000 staff. The war in Ukraine - now going on for 18 months - ...
Pilots must refuse to board ships with unsafe transfer ladders Although the numbers are small - on average 1.8 pilots a year have been killed globally by falling from faulty...
Ukraine should not fight a just war with unjust tactics The embattled country has the moral high ground in its fight with Russia. By declaring commercial shipping a valid military...
Clyde & Co prosecuted by solicitors' regulatory body 'We hold ourselves to the highest professional and ethical standards and take responsibility for ensuring we meet them... It would...
Ukraine proposes corridor for stranded merchant vessels The Ukrainian Navy's proposal is for three ports that were instrumental in the Black Sea grain deal, as the country...
LNG remains alternative fuel of choice for tanker newbuildings, for now While orders for alternative-fuel tankers are increasing, some shipowners are hedging bets by specifying 'gas-ready' or 'methanol-ready' newbuildings to enable...
Record Brazil corn exports help hike panamax spot rates Brazil's bumper corn exports continue to ramp up, with August expected to exceed July's peak. That is supportive of rate...
Box shipping's half-year report: Could do better Container lines expected a normalisation of the market this year. While that is positive in some senses, it means the...
HMM orders four heavylift ships from China's Huangpu Wenchong The Guangzhou-based shipyard says there is growing demand for heavylift ships
Taiwan's U-Ming Marine promotes Jeff Hsu to vice-chairman Taiwan shipping group U-Ming Marine has promoted Jeff Hsu to the role of vice-chairman. He is the son of billionaire...
IEA warns shipowners and insurers as Russian oil breaches G7 price cap Tankers, shipping services and marine insurers are told they cannot be sure of respecting the oil price cap when loading...
Box rates hold as carriers look to further increases Carriers are having more success in making rates rises stick. But the market is still in 2019 territory
Okeanis posts steep second-quarter profit increase Owner's VLCCs and suezmaxes are earning slightly lower rates so far in third quarter
Daily Briefing Bulker profits hit in Q2 as freer capacity outstrips demand | Hapag-Lloyd maintains outlook in face of weak rates |...
Panama Canal delays raise risks for shippers, but not yet biting The Panama Canal's limits on vessel drafts and transits have yet to make big impact on container shipping, but at least one forwarder is warning shippers not to be complacent.
No US freight rebound until 2024: analysts The current freight downturn could continue until mid-2024, thanks to lower manufacturing output, high levels of employment and excess capacity, experts told the Journal of Commerce Thursday.
Yang Ming, Wan Hai end profitable runs with Q2 loss The rapid normalization of container shipping markets claimed its first victims as tumbling rate levels dragged Yang Ming and compatriot carrier Wan Hai into the red in the second quarter.
Larger bulkers snare multimonth fixtures at above-market rates Diana Shipping expects to make $6.38m off a capesize bulker period charter that will last for at least 15 months
Imperial Petroleum shares plunge 35% after high-discount Maxim offering Principal Harry Vafias complained about Imperial's weak share price even as deal was in works that tanked stock further
Grimaldi points to Jeep Wrangler as cause of ro-ro fire Investigation shows that transmission oil contacted hot engine or exhaust parts and caught fire, Grimaldi Group says
UN declares mission a success over time-bomb tanker off Yemen coast More than 1.1m barrels of oil have been transferred from the FSO Safer to a replacement VLCC off the coast of Yemen
Panama Canal Authority set to keep draught limits into 2024 Some 161 ships waiting to cross the drought-impacted canal on Thursday
Editor's selection: Cash-rich Fearnleys eyes buyouts, Case lauds results and MSC splashes $1.3bn A look back at some of TradeWinds' best news and insight over the past week
Car carrier blazes spark fresh training focus in US Vessel fires have been focusing minds in the US, where departmental collaboration could be the key to saving lives
China supersedes Greece as the world's largest owner for the first time Greece slips to second spot after a decade at the top of the list by gross tonnage
Yang Ming slips into the red and warns of a worsening outlook Taiwanese liner operator suffers loss and paints a bleak outlook for supply and demand
Fremantle Highway blaze throws electric vehicle risk into sharp relief, say insurers Underwriters call for better detection and extinguishing systems to prevent battery fires from spreading
Bulkers benefit as Ukraine war puts coal trades in a spin Europe is importing the commodity from further afield, while China is taking the supply from sources closer to home
Iran rescues 22 crew from fire on veteran LPG tanker State television said the fire started in the engine room of the 51-year-old vessel
IEA declares price-cap 'smashing' Russian crude off-limits to EU shipping Russian oil revenues hit the highest level since the start of the price cap in December 2022
Okeanis Eco Tankers sees profit skyrocket as rates soar Greek tanker owner sees VLCCs eclipse $70,000 per day, pushing bottom line skyward
China anti-graft probe targets ex-senior BoCom Financial Leasing exec Ma Bin is the latest shipping official to be investigated in China's ongoing investigation into financial misconduct
Thoresen optimistic for rest of 2023, despite 75% slide in second-quarter profit Thai bulker shipowner said there remains the potential for periods of upside, stimulated by seasonal factors
Wilson Sons' quarterly profit jumps almost sevenfold to $22.7m Six-month earnings leapt 23% year over year as company adds new tug to fleet
New Air Canada freighters help offset declines in cargo revenue Second-quarter cargo revenue at Air Canada fell 24% - not so bad in the context of global market conditions.
Yang Ming blames economic uncertainty for $4M Q2 loss Looking ahead, Taiwanese ocean carrier Yang Ming said that "the overall momentum for economic recovery over the next two years still appears relatively weak."
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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