AUKUS submarine project: What's next? The AUKUS plan to provide Australia with nuclear-powered submarines took a significant step forward yesterday. The initiative, first publicly announced last September, will see the U.S. and U.K. share knowhow and technology
ACBL orders new 11,000 hp towboat at C&C Marine and Repair Jeffersonville, Ind.-based American Commercial Barge Line (ACBL), has awarded C&C Marine and Repair of Belle Chasse, La., a contract to build an 11,000 horsepower class towboat. "We are investing in our future
Sea Change ferry arrives in San Francisco The highly anticipated zero-emissions ferry, the M/V Sea Change, powered by hydrogen fuel cell technology arrived in San Francisco over the weekend, where it will prepare to carry passengers later this year.
Eastern Shipbuilding authenticates keel of new auto and passenger ferry Eastern Shipbuilding Group Inc.'s Allanton Shipyard in Panama City, Fla., last week hosted the keel authentication ceremony for a new 302-foot auto and passenger ferry (ESG Hull 228) it is building for
Sister shipyards fix WSF ferry damaged in "hard landing" When the 328 foot long Washington State Ferry M/V Cathlamet struck one of the mooring dolphins at the Fauntleroy Ferry Terminal near Seattle, on July 28, 2022, two sister shipyards - Everett
APM Terminals invests in Port Poti equipment APM Terminals Poti's investment strategy will continue in 2023, proceeding with the modernisation of existing infrastructure and machinery at Georgia's biggest harbour, growing capacity, improving safety and efficiency, and lowering environmental effects. The recent acquisition of two 40 m³ Hydraulic Bulk Discharge Hoppers by the APM Terminal Poti will enable bulk cargo to be discharged more effe
APM Terminals Gothenburg doubles reefer capacity and streamlines PTI service APM Terminals Gothenburg will double its reefer connections to more than 200 in the first half of this year, while at the same time, improvements to the pre-trip inspection (PTI) process are expected to increase efficiency. APM Terminals said that all reefer plugs of the Swedish terminal will be fed with electricity from renewable sources, in line with the entire terminal. "Using renewable energy
ECSA supports updated EU Maritime Security Strategy The European shipping industry has welcomed the updated European Union (EU) Maritime Security Strategy and its Action Plan on "An enhanced EU Maritime Security Strategy for evolving maritime threats". The updated Strategy solidifies the commitment of the EU to enhance its role as a global maritime security provider in a rapidly evolving geopolitical context, according to a statement. The European
CMA CGM joins race to operate Bangladeshi port terminals French shipping company CMA CGM has joined the race to operate Bangladeshi port terminals like many of its global peers. Three top regional bosses of CMA CGM met the Chittagong Port Authority chairman and other top officials on 13 March and proposed to operate the Bay Terminal and Matarbari deep-sea port, when they are ready. Laurent Olmeta, the Asia Pacific CEO for CMA CGM Group, Amish Shah, Hea
Shipping lines refusing to cut capacity in price war Container freight rates are still falling, while charter rates are holding up, suggesting that liner operators are chasing market share, even if it means a price war. Linerlytica's latest report, issued on 13 March, stated that around 738,014 TEU of capacity, or 2.8% of the fleet, is now idled, down from a peak of 3.8% in February, as shipping lines are reactivating inactive vessels after the Chi
PSA Jurong Island Terminal and JTC handle 130,000 TEUs in 2022 In the year ending 31 December 2022, PSA Jurong Island Terminal in Singapore accomplished a record-breaking cargo throughput of more than 130,000 TEUs. This is the terminal's greatest volume since it opened in 2012 and a 30% increase from 2021 volumes. Another important achievement of PSA Singapore (PSA) and JTC cooperation - a statutory board under the Ministry of Trade and Industry in Singapore
CMC, ITI Intermodal and Columbia Container combine businesses Marine Repair Service - Container Maintenance Corporation (CMC), ITI Intermodal, Inc. (ITI) and Columbia Container Services have completed their agreement in order to combine their businesses. The closing date is targeted for mid-April following the regulatory review. Through this deal, the companies will collectively provide a full range of dry and reefer equipment maintenance & repair (M&R), st
CLdN enhances service network between European mainland and UK CLdN, a multimodal logistics service provider, announced the launch of new services from European regions to Teesport in the North East of England, as well as the expansion of its current service to London (Purfleet). The Teesside service will begin on 18 March 2023, with four round-trip sailings per week, three from Zeebrugge in Belgium and one from Rotterdam in the Netherlands. Furthermore, CLd
PSA Sines orders six Konecranes automated container cranes PSA Sines, the Portuguese subsidiary of PSA International, will enter the Automated Rubber-Tired Gantry (aRTG) market for the first time with the acquisition of six electric-powered aRTGs from Konecranes. The new cranes will be delivered in the first quarter of 2024. The completely automated cranes are expected to increase PSA Sines' efficiency while also supporting the terminal's growth plans. A
Congestion reported at India's Nhava Sheva Port after APMT berth closure Containerised trade flowing through India's Nhava Sheva Port (JNPT) is facing bottlenecks due to significant capacity reduction fuelled by the closure of a berth operated by APM Terminals Mumbai, also known as Gateway Terminals India (GTI). Because of the extra pressure on available capacity, all terminals in the harbour are facing congestion problems, according to local trade sources. In additio
Global tank container fleet surpasses 800,000 units According to this year's International Tank Container Organisation (ITCO) survey, the global tank container fleet hit 801,800 units on 1 January 2023, up from 737,935 on 1 January 2022, representing an 8.6% increase year on year. In order to meet the ongoing high demand for new equipment, a total of 67,865 new tank containers were constructed, up from 53,285 new units the prior year - a 14,580 un
Interview with Asparuh Koev, CEO of Transmetrics: "Still, we can't conceive an airplane without a pilot in the cockpit" New digital systems and technologies, such as Artificial Intelligence (AI) and Machine Learning (ML), are becoming more and more important in the shipping sector, transforming slowly but significantly one of the most conservative industries. Asparuh Koev, CEO of Transmetrics, a Bulgarian tech company aiming to optimise logistics planning and asset management using the power of predictive analytic
9 Key Strategies for Small Businesses to Boost Their E-Commerce Sales this year E-commerce is the new frontier for small businesses. With so many options and prices, getting lost in the vast sea of online shopping is easy. This can be a huge problem if your business needs to prepare for this brave new world. But even if you are still getting ready to sell goods online, plenty of benefits still come with being an e-commerce business owner--and they all start with strategy! He
Box volumes increase in Saudi ports The Saudi Ports Authority (Mawani) reported a 7.76% increase in cargo traffic in February 2023, with 622,837 TEUs handled compared to 577,993 TEUs in 2021. The monthly container statistics show a 12.7% rise in exported containers - from 172,208 TEUs in February 2022 to 194,157 TEUs this year - with imported containers increasing 5.9% year-on-year to 193,937 TEUs. Additionally, the transshipment s
Safe Bulkers sells panamax New York-listed Greek dry bulk owner Safe Bulkers is selling its 2012-built panamax for $22.5m. The Japanese-built ship will be delivered to an undisclosed owner in June and chartered back for ten to fourteen months at $16,050 per day. The Monaco-headquartered firm also recently signed up for a Japanese kamsarmax newbuild for delivery in the ...
Solstad Offshore offloads laid-up AHTS Oslo-listed OSV owner and operator Solstad Offshore continues to further trim its fleet with the disposal of the fifteen-year-old anchor handling tug supply ship . Delivery of the 2008-built AHTS to an undisclosed buyer has already been completed, with a minor positive accounting effect for the first quarter of 2023. The Norwegian-flagged 2,350 dwt vessel ...
Ernst Russ and Eimskip JV snaps up feeder boxship A joint venture between Germany's Ernst Russ and Icelandic liner Eimskip has purchased a secondhand feeder container vessel for an undisclosed sum. The 2009-built 1,025 teu ship to be named Bakkafoss matched the description of Elbdeich Reederei's Elbsummer, estimated to be worth around $8.2m. The vessel will deliver in the second quarter and expand the ...
Rem Offshore reveals multiple PSV contracts Norway's Rem Offshore has announced multiple contracts for its platform supply vessels. In the UK sector, Apache North Sea has extended contracts for Rem Cetus, Rem Insula and Rem Server for one year. The 2015-built Rem Arctic has been awarded contracts with compatriot well management player, Well Expertise for 2 wells supporting Deepsea Yantai, and ...
Ocean Winds signs Portuguese wind port pact Ocean Winds, a joint venture between Engie and EDP Renewables (EDPR), has signed a memorandum of understanding with the Port of Setubal in Portugal to work together on preliminary steps in getting the port infrastructure ready for the upcoming offshore wind development in the country. Portugal's offshore wind has drawn interest from several European utilities ...
Maran Gas back at DMSE with $520m deal for two LNG newbuilds Maria Angelicoussis-led Maran Gas Maritime has signed up for two LNG carrier newbuilds at South Korea's Daewoo Shipbuilding & Marine Engineering (DSME) at most likely the highest price recorded to date. The gas shipping unit of Greece's Angelicoussis Shipping Group is paying KRW679.4bn ($519m at today's exchange rate) to have the 174,000 cu m pair ...
Ocean Installer secures work on Equinor floating wind project Marine construction player Ocean Installer, formerly Havfram Subsea, has won a contract from Equinor for the installation of dynamic inter-array cables on the Hywind Tampen offshore floating wind farm in Norway. Hywind Tampen is currently the world's largest floating wind farm and the first related to the electrification of oil and gas assets. The wind ...
Korean shipowning universe in for a shake-up as private equity looks for an exit The Korean shipowning universe is in for a shake-up with private equity keen to cash out of the sector. Hahn & Company, the biggest private equity player in Korean shipping, is seeking a buyer for both the tanker division of SK Shipping as well as H-Line Shipping, one of the country's largest shipowning entities. Likewise, ...
Beijing drops Australian coal ban Beijing has scrapped its ban on Australian coal, with a growing armada of bulk carriers leaving terminals Down Under bound for the People's Republic. The ban, in place since late 2020 over arguments about the origins of covid, was partially lifted in January when the Chinese government allowed four large importers to restart buying Australian ...
Fugro and Ocean Infinity secure Scottish floating wind site survey work The consortium behind Ossian floating offshore wind farm has awarded the contract for geotechnical investigations to Fugro and Ocean Infinity. The Ossian project is being delivered by a partnership of Scottish renewable energy developer SSE Renewables, Japanese conglomerate Marubeni Corporation and Danish fund management company Copenhagen Infrastructure Partners (CIP). Set to be located across 8
Viking Supply Ships to take over Ocean Yield's AHTS pair from Solstad Sweden's Viking Supply Ships (VSS) has struck a deal with Norwegian owner and sale and leaseback player Ocean Yield to bareboat charter in two anchor handling tug supply (AHTS) vessels currently on contract with Solstad Offshore. The Christen Sveaas-controlled Viking Supply will take the 2013-built Far Senator and Normand Statesman for a period of five ...
Blue Water Shipping inks five-year contract with Vestas Denmark's logistics provider Blue Water Shipping and wind turbine maker Vestas have signed a five-year deal for the handling of wind components in the ports of Esbjerg and Cuxhaven. Blue Water said the contract is "by far the most comprehensive that has been concluded between the two companies". The agreement covers terminal handling of the ...
Ace Tankers takes four chemical carriers from Utkilen Ace Tankers, a fast growing Amsterdam company backed by Idan Ofer, has swooped for the fleet of Stream Tankers, a chemical carrier subsidiary of Bergen-based Utkilen. Brokers tell Splash Ace Tankers has paid $34m per ship for the 19,998 dwt sister ships, Stream Atlantic, Stream Arctic, Stream Baltic and Stream Pacific, all ships built in ...
Russia allows 60-day extension to the Black Sea Grain Initiative With just days to go until the latest period of the Black Sea Grain Initiative was due to expire, Russia has agreed to a 60-day extension, which is half the number of days agreed when it first expired in November. The shipping pact between warring neighbours Ukraine and Russia was brokered last summer by the ...
Philippine tanker responsible for dire oil spill did not have the correct paperwork As the Philippines grapples with its worst oil spill since 2006, it has emerged that the sunken tanker at the centre of the disaster did not have a permit to sail. The locally flagged Princess Empress product tanker sank off the island of Mindoro on February 28, having lost power during rough weather. The ship ...
COSCO and China Merchants tipped to bid for stake in Hutchison Ports The mix of the global container terminal operators is ready for a shake-up with multiple sources, including Reuters and Bloomberg, reporting PSA International is looking to sell its 20% stake in Hutchison Ports. PSA bought the stake in 2006 and is understood to be looking for around $4bn to offload it this year, with Bloomberg ...
Seafarers as collateral strike damage Steven Jones, the founder of the Seafarers Happiness Index, on how the wave of industrial action at quaysides around the world is keeping seafarers at sea. Well done everyone, we survived covid. We faced down the challenges, threats, coughs and came out stronger. Yes, seafarers were locked down, they were forced to remain onboard for ...
US federal government puts US Arctic Ocean off limits for future oil and gas leasing The US Department of the Interior announced this week that the entire US Arctic Ocean is off limits for oil and gas leasing. Using his authority under the Outer Continental Shelf Lands Act, President Biden is withdrawing approximately 2.8m acres of the Beaufort Sea in the Arctic Ocean nearshore in the National Petroleum Reserve-Alaska (NPR-A) ...
Gulf Wind Technology and Shell to collaborate on offshore wind technology in the Gulf of Mexico Louisiana-based wind turbine rotor technology specialist Gulf Wind Technology (GWT) and Shell New Energies US LLC have partnered to address challenging wind conditions in the Gulf of Mexico in advance of offshore wind energy development in the region. Through the Shell Gulf Wind Technology Accelerator program, funded by a $10m investment by Shell, the companies ...
No evidence of price cap violations, says US official Price cap on Russian energy exports said to be fulfilling its dual goals of hurting Moscow's revenues while keeping global...
Greeks lag Asian owners in new orders By contrast to dry bulk and product tanker sectors, Greeks remain leading investors in LNG carrier and crude oil tanker...
CLdN adds new routes to Teesport while expanding London service World's third-largest operator of shortsea ro-ro cargoships will serve Teesport for the first time. Its new services will fill a...
Singapore bunker sales fell to eight-month low in February Marine fuel sales in Singapore dipped in February, likely signalling weaker demand on the back of lower freight rates for...
US liquefied natural gas exports to grow by double digits in 2023, according to EIA Demand for liquefied natural gas is expected to rise as it will continue to replace pipeline natural gas exports from...
Seanergy confident about dry cargo prospects Sustainability-linked loan to finance repurchase of 2011-built capesize leased back from Cargill
Is PSA's stake in Hutchison Ports a fit for Chinese giants? To spend billions of dollars on a minority equity stake in Hutchison global port portfolio seems to contradict what Cosco...
Court of Appeal ruling to clarify cargo policy wording Outcome at first instance already provides precedent interpreting section 13a of the 2015 Insurance Act, setting out right to be...
Capesizes return to profit-making territory Capesize rates are up 679% since mid-February to their highest level this year, as optimism about China's prospects amid low...
China accelerates coal-buying from Australia Volumes are picking up with some 24 ships and a total of 1.8m tonnes so far being booked for coal...
Russia proposes extending Black Sea grain deal for shorter period Russia is proposing that the grain deal be extended for 60 days, which is half the period of the initial...
Angelicoussis Group orders two LNG carriers from DSME Vessels scheduled for delivery in first half of 2027
Chinese ports group rebrands amid consolidation drive Local ports integration has been a part of China's industrial consolidation wave
Charter rate premiums for eco boxships increasing A two-tier containership charter market is gaining traction as modern ships capable of variable service speeds are able to obtain...
Türkiye ramps up Russian oil imports post EU ban Turkish buyers have been taking advantage of discounted Russian oil prices by increasing imports to record high levels, as the...
Supply chain diversification proves positive for 'hotspot' ports Global port throughput has stagnated since the second half of last year. But countries such as Vietnam and Mexico are...
PSA Jurong Island Terminal achieves record-breaking throughput PSA facility reports highest annual liftings since opening in 2012, as volumes jump 30% year on year
Daily Briefing Container demand fall will spark service modifications | Zim expects second-half rebound as rates 'near bottom' | Container lines 'likely...
Freightos' 2022 financials reveal losses amid improving operating margins Freight rate booking marketplace Freightos said its unprofitable business is seeing improving margins and that scale will help it past the breakeven point.
Wan Hai faces $950,000 fine under revised FMC settlement over detention charges Wan Hai is now looking at a larger civil penalty than it faced nearly a year ago following an investigation into detention charges the carrier assessed in the spring of 2021.
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Wan Hai faces $950,000 fine under revised FMC settlement Wan Hai is now looking at a larger civil penalty than it faced nearly a year ago following an investigation into detention charges the carrier assessed in the spring of 2021.
US trucking, warehousing firms shed jobs, but still have more than a year ago Most of the transportation job losses reported for February were due to seasonal cuts rather than economic contraction, according to the US Bureau of Labor Statistics.
MSC drops India calls on intra-Asia string amid network realignment MSC and other leading carriers serving Indian trades have been reorganizing their service networks and vessel deployments in a bid to match excess capacity with weakening demand conditions.
Global supply chains not quite back to pre-pandemic norms: analyst A variety of data sources suggest it is premature to conclude that supply chain bottlenecks have reverted to their pre-COVID levels, as issues continue to be more pervasive than before the pandemic, writes analyst Jason Miller.
KNOT Offshore ships end up as conventional tankers amid search for new charters Two of the Scottish owner's shuttle tankers shifted from the shuttle tanker market amid sluggishness in the North Sea
UN shows openness to shorter renewal of Black Sea grain deal In a carefully crafted statement, UN spokesman puts emphasis on the scheme being continued - not for how long
US issues citations and fine against stevedore after worker killed in cargo hold Premier Bulk Stevedoring allegedly failed to follow required safety standards after worker killed aboard a Wagenborg general cargo ship
China reportedly ends Australian coal ban begun in 2020 Beijing tells ports and customs offices to allow cargoes from Australia, after green-lighting just four major importers in January
Slideshow: A-listers turn out for Green Seas debut fuels forum in New York First live event by Green Seas talks to the shipping companies that are investing today in a greener tomorrow
Seanergy Maritime ekes out profit as China's woes weigh on capesize bulker market New York-listed shipowner beats analyst estimates and Baltic Exchange TCE assessments
Solstad follows $577m PSV fleet sale with disposal of laid-up AHTS Norwegian owner continues to shed ships as it refocuses on wind and subsea
Two-tier charter market emerges for feeder container tonnage Charterers cough up for modern vessels likely to provide a better CII rating
Ammonia-fuelled bulker trial yields 'surprising' results Study is being shared in the hope that others can help tackle hurdles in adopting the zero-carbon fuel
A-listers turn out for Green Seas debut fuels forum in New York First live event by Green Seas talks to the shipping companies that are investing today in a greener tomorrow
Hahn & Co eyes $1.5bn profit from sale of SK Shipping tanker fleet Private equity player could also offload bulker and LNG carrier owner H-Line Shipping
Eagle Bulk 'ready for take-off' as bulker market takes flight US owner is now a compelling investment after recent share price falls
Zim expects to earn a cool $2bn this year. Here's why Things will get better as newbuildings are deployed, supply tightens and demand recovers
'Fierce competition' for bulkers as Norwegian investors return to S&P fray 'Savvy' Greek buyers facing renewed interest from Nordic rivals
K Line seeks to boost cash pot for directors New director pay structure seeks to reward emission cuts in the fleet
Hong Kong's first FSRU sets course for new home via South Korea Much delayed new import facility finally ready to receive world's largest floating storage and regasification unit next month
'More MR sales than we care to count,' says broker Cleaves Owners continue to take advantage of high demand and prices as sellers clamour for clean tankers
Fifteen-year-old LNG steamship floated for sale as S&P action rolls on One of the more modern Moss-type vessels is expected to find a new home offering storage or for short-haul trades
Oil slick tanker had 'no permit to sail' before sinking Philippines senate hearing is told that vessel sailed nine times without the correct documentation
Maran Gas Maritime inks pricey LNG newbuilding pair at DSME Orders continue to trickle in despite 2022's record haul
'Another fantastic flip' for Lila Global as it makes $9m on veteran suezmax Tanker Lila Hong Kong was acquired from Cosco in October
'Wreaking havoc': Turkish demand boosts the market for Russian crude French shop BRS says strong demand from Turkish refinery could hit Western efforts to limit Russian profits from oil sales
Ernst Russ and Eimskip team up to buy feeder container ship German tonnage provider and Icelandic line expand their portfolio
Danish ferry boss removed as master takes over to save money Boye Kromann will remain a board member at Aeroxpressen but will no longer run the company
'Wreaking havoc': Turkish demand boosts market for Russian crude French shop BRS says strong demand from Turkish refinery could hit western efforts to limit Russian profits from oil sales
Exmar LPG linked to top-dollar deal for Hyundai Mipo gas carrier orders Midsize carriers to cost $74m each - just shy of the price paid for the world's first LPG dual-fuelled VLGC
Brazilian navy reports Tsakos bulk carrier grounding Incident took place in Babitonga Bay on Saturday
Viking Supply brings in super-large Ocean Yield anchor-handlers for five years Pair of offshore ships were previously operated by Solstad
Gabon FLNG project plans to deploy FSU and multi-purpose vessel conversion Details on infrastructure make-up of Perenco's newly unveiled development start to emerge
Leon Patitsas: Energy security trumps energy transition Greek shipowner argues that it is conventional ships, attractive entry points and low break-evens that matter as green euphoria subsides
Greece's Atlas Maritime reveals strategy in savvy $1bn push for steel Macquarie and Fortress Investment emerge as partners of Greek shipowner Leon Patitsas
Windward says exposure to collapsed Silicon Valley Bank is 'minimal' London-listed company says it has over $20m in cash and remains 'well capitalised'
Singapore's PSA said to be eyeing CK Hutchison Port stake sale Singapore Inc looks to cut one set of Hutchison Port ties as it continues to build up another
Yangzijiang Shipbuilding inks product tankers worth up to $700m in flash sale Container ship slots freed up by Singapore-listed shipyard were 'snapped up overnight' by European companies
DOT approves private equity buy of Atlas Air, company says Atlas Air has apparently cleared the final hurdle for its sale to Wall Street hedge funds.
Viewpoint: Tug of war between higher wages and inflation More than 130,000 civil and public servants who are part of the Public and Commercial Services Union will walk out in what it is calling the largest strike in civil service in decades.
February still busy for Georgia Ports despite year-over-year, sequential dips The Georgia Ports Authority reported its second-busiest February ever.
Cash burn saddles digital market Freightos as shipping market sinks Freight reservation aggregator Freightos issued its first earnings report as a public company. Reducing losses continues to be a challenge in a difficult economy.
Cargo influences British Airways to use big jets on European hops IAG's cargo division has convinced management to use larger passenger jets on some short-hop routes to capture more cargo business.
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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