Research vessel fitted with high-lift DMC flap rudder A 35-meter coastal research vessel built by Holland Shipyards Group's shipyard in Hardinxveld-Giessendam, Netherlands, has been fitted with a single high-lift Barke flap rudder and piston-type steering gear system from Damen Marine
Fire Island Ferries takes delivery of multi-purpose vehicle ferry Elliott Bay Design Group (EBDG) and Fire Island Ferries report that construction of Fire Island Maid, the ferry company's newest ferry, is complete. The vessel has received its U.S. Coast Guard COI
Path opens for offshore wind vessels to charge at turbines Harbor trials of an innovative offshore charging system promise to open the way for battery-powered vessels to charge directly from offshore wind turbines or substations. This, in turn, could lead the way
Share of ships with scrubbers seen rising despite 24% fall in fittings in 2022 In this week's "Shipping Number of the Week" from BIMCO, chief shipping analyst, Niels Rasmussen, examines the slowing rate of scrubber installations in 2022 and why a new wave of installations is expected in coming years. "Scrubbers were installed on 399 ships in 2022, a fall of 24% y/y, and currently 13% of bulker, container, and tanker ships have a scrubber installed. Despite the slowing rate
Hapag-Lloyd launches new service in Asia German ocean carrier Hapag-Lloyd announced the addition of a new service in Asia that will have flexible port coverage. This new service, Vietnam Indonesia Straits (VIS), will be effective in April and will replace Hapag-Lloyd's VNF and SPL services. The rotation of the new service will be Cat Lai (Vietnam) - Singapore - Port Kelang (Malaysia) - Belawan (Indonesia) - Penang (Indonesia) - Port Kel
PSA Mumbai dismisses congestion, productivity slowdown reports PSA Mumbai (BMCT), the new terminal operator at India's Nhava Sheva Port (JNPT), has denied reports that it is operating at a slower pace, as the trade faces supply chain challenges due to the berth closure at APM Terminals Mumbai, also known as Gateway Terminals India (GTI). The Singapore-based terminal operator pointed out that "PSA Mumbai is fully operational and is functioning as usual" despi
Konecranes to deliver its final cranes to Russia Konecranes has now started to deliver its final crane order to Russia. The order of cranes for a Waste-to-Energy recycling site outside Moscow was placed in 2019 by a European company and subsequently delayed by Russia's invasion of Ukraine. According to Konecranes, after Russia's invasion of Ukraine in 2022, the company said it would stop taking new orders from Russia. "Once this order has been
TT Club announces C-level promotions TT Club, a UK provider of insurance and related risk management services, has announced two new appointments to senior positions as part of its planned succession programme. Specifically, Kevin King has been promoted to deputy chief executive officer and Mark Argentieri to chief operating officer (COO) in place of King. Both King and Argentieri have been working closely with TT's CEO, Charles Fen
2M cuts AE1/Shogun loop as MSC receives more mega vessels The 2M alliance has suspended one of its six Asia-Europe services, the AE1/Shogun loop, as MSC takes deliveries of five 24,000 TEU ships, according to Alphaliner's latest report. The Shogun loop is the first Asia-Europe service that a major shipping alliance has stopped since cargo volumes began plunging in September 2022. This suspension will have no immediate impact on the trade, since all of t
AD Ports Group inks agreement for Pointe Noire Port's new multipurpose terminal AD Ports Group has signed a Head of Terms (HoT) agreement today (15 March) with the Ministry of International Cooperation and Promotion of Public Private Partnership of the Republic of Congo for a new multipurpose terminal in Pointe-Noire. According to the deal, AD Ports Group has the exclusive right to invest in the development, operation, and management of the "New Mole Port" that will be able
Port of Savannah sees container drop but gains national market share Port of Savannah in Georgia, US moved approximately 395,000 TEUs in the previous month, marking Georgia Ports Authority's (GPA's) second-busiest February on record following 2022 when it carried 460,400 TEUs. The port saw its box volumes drop compared with January numbers, when Savannah moved 421,714 TEUs. "Inflation, increasing interest rates, and high storage supplies are all contributing reaso
ONE orders ten New Panamax container ships Ocean Network Express Pte. Ltd (ONE) has ordered ten new container vessels with a carrying capacity of over 13,700 TEUs. The new boxships will be delivered in 2025 and 2026. The Singapore-headquartered ocean carrier said this new order is in line with the company's medium-term strategy announced in March 2022 and follows the 10 vessels ordered in May . ONE's official commented, "By ensuring a sta
Carrier Transicold enhances controlled atmosphere system for reefers Carrier Transicold's EverFRESH® active controlled atmosphere (CA) system for refrigerated containers now offers an expanded range of oxygen (O2) setpoints for all EverFRESH options. Specifically, the latest EverFRESH software release can help shippers transport a wider range of perishable goods, including high-value produce such as kiwis and plums, to farther and new locations. Moreover, the Ever
Wan Hai newbuild boxship completes maiden voyage to Qingdao Port Qingdao Port Group in China conducted a grand inaugural voyage celebration event for the 13,200 TEU vessel Wan Hai A01. Wan Hai Lines' vessel has a total length of 335 metres, a width of 51 metres, a draught of 16 metres, and a top cruising speed of 22 knots. Wan Hai A01 will provide service from the Far East to the West Coast of South America. According to a company's statement, the container sh
Ørsted and Eversource propose new offshore wind farm in Rhode Island Offshore wind developers Ørsted and Eversource have submitted a joint proposal for an 884 MW project in Rhode Island. Dubbed Revolution Wind 2 the project is said to represent more than $2bn in direct economic benefits to Rhode Island's blue and green economies. If selected the joint venture partners said they would among other things ...
Terntank bolsters NEOT ties with charter deal for wind and methanol ready tanker newbuild Tanker operator Terntank is expanding its long-standing partnership with Finland's North European Oil Trade (NEOT) through a new time charter deal for one of its methanol and wind assist-ready vessels booked for construction in China. Last November, the Swedish company, which operates its fleet from Skagen, Denmark, placed an order for up to four battery ...
Golar LNG wraps up New Fortress FLNG deal Tor Olav Trøim-backed Golar LNG has completed the buyout deal with New Fortress Energy for the floating liquefied natural gas (FLNG) facility operating offshore Cameroon. The deal closed with Golar paying $100m in cash for the 2017-converted FLNG Hilli, returning 4.1m shares it held in Wes Edens' Nasdaq-listed LNG player and taking over $323m in ...
Globus Maritime offloads ageing supramax for $14m Greek bulker owner Globus Maritime has sold its 2007-built supramax to an unaffiliated third party for $14.1m. Industry sources say the 58,790 dwt, which is expected to deliver in May, was picked up by an unnamed Chinese buyer. Athanasios Feidakis-led Globus bought the Maltese-flagged vessel in 2011 for a reported price of around $30m. "This ...
Number of scrubber-equipped vessels to grow despite drop in fittings last year Despite a significant drop in the number of installations, the share of scrubber-fitted vessels is expected to increase in the coming years. BIMCO reported 399 onboard installations last year, a 24% decrease year on year, with scrubbers now installed on 13% of bulkers, tankers, and containerships. This percentage is set to rise, as 17% of ...
Seacon launches Hong Kong IPO Chinese shipowner and operator Seacon Shipping Group has launched its initial public offering in Hong Kong, looking to raise up to around $62m from the deal. The Qingdao-headquartered company is offering up to 125m shares, expected to be priced in the range of $0.41 to $0.49 per share. The company said it expects to determine ...
Amazon becomes a founding member of the Zero Emission Maritime Buyers Alliance Amazon, clothing firm Patagonia and German coffee chain Tchibo have founded the Zero Emission Maritime Buyers Alliance (ZEMBA) along with non-profit organisation the Aspen Institute, and are seeking other freight buyers to come onboard. The alliance is part of the Cargo Owners for Zero Emissions Vessels (coZEV) initiative and aims to enable companies to access ...
24,346 teu: MSC sets new boxship record The newbuild containership avalanche is now in full swing, and with it size records are being smashed on a monthly basis. The delivery of the 399.99 m long from Yangzijiang Shipbuilding has set a new world record in the escalating megamax race among global carriers. The 24,346 teu ship dethrones the 24,188 teu OOCL Spain, ...
HAL takes over Royal IHC's IQIP Dutch shipbuilder and designer Royal IHC has sold its offshore equipment subsidiary IQIP to Amsterdam-listed investor HAL. The Sliedrecht-based IQIP is a well-known supplier of solutions for installation and foundation projects in the offshore wind and renewables, decommissioning, oil and gas, and coastal and civil markets. The company employs approximately 300 people and generated €102m ...
AD Ports moves to develop Congolese port Massive port construction is underway up and down the west coast of Africa. The latest development slated is in the Republic of Congo where fast-growing AD Ports from Abu Dhabi has signed a head of terms with the government for a new multipurpose terminal in Pointe-Noire. Under the agreement, AD Ports has the exclusive right ...
Financial hurdles facing green ammonia retrofits Retrofitting ships for green ammonia propulsion is currently prohibitively expensive, an in-depth study has found. A cross-company, cross-discipline group of industry experts concluded that deepsea shipping can transform to ammonia as fuel, but there are several difficult hurdles to overcome. Through 2022, a group of industry experts, led by Norwegian shipowner Grieg Star, studied the ...
Splash launches app Today sees the launch of the latest way Splash will disseminate top shipping news. Available for both Android and Apple, Splash's brand new app gives readers quick access to the information they require in a simple format. For ease of navigation, stories are compartmentalised into both sectors and regions, allowing readers to focus on what ...
Byzantine Maritime takes the newbuild plunge in China for the first time Greek company Byzantine Maritime has ordered three 41,000 dwt bulk carriers at a yard in China for $30m each, due for delivery in 2024 and 2025. State-owned New Dayang Shipbuilding has won the orders, the first time Byzantine has ordered in China. SUMEC Group, a state run machinery manufacturer based in Jiangsu, took over Dayang ...
ONE orders 10 more boxships Japanese containerline Ocean Network Express (ONE) has ordered ten 13,700 teu boxships to be delivered in 2025 and 2026, the company announced today without revealing prices and at which yard. This new order follows the 10 vessels ordered in May last year. The 10 new vessels will be ready for methanol and ammonia and equipped ...
Blue fuels are a vital component of the maritime energy transition In looking beyond fossil fuels, shipping's regulators should not seek to cut the industry off from the sources it needs to shift towards renewables, writes Matthias Ólafsson from the Methanol Institute. A regulatory tailwind has put the maritime industry on a trajectory towards the use of sustainable fuels. It is proving a challenging process, not ...
Lawsuit charges Biden administration with violating multiple laws when approving ConocoPhillips oil and gas project in Alaska Six groups filed a lawsuit on Tuesday in US District Court charging the Interior Department, multiple agencies and agency officials with violating an array of laws when authorising ConocoPhillips' Willow oil and gas project in the National Petroleum Reserve-Alaska. Another group, Earthjustice, also plans to file a lawsuit. The Biden administration approved Willow on March 10. According ...
Port of Oakland calls for zero-emissions cargo-handling plans from tenants The Oakland board of port commissioners approved an environmental ordinance at its March 9 meeting. The port law includes requiring tenants that operate cargo-handling equipment to create a plan for converting the equipment to zero emissions. "The entire port board is committed to
European banks 'pushed away' from shipping by regulations Although several speakers identified stricter regulations as a prime reason for the retreat of many traditional European banks in recent...
CMA CGM takes 12% stake in Brittany Ferries Latest move by French containership operator follows discussions in February to acquire compatriot ferry operator La Méridionale
Boxship recycling still dominated by feeder ships Total boxship capacity sold for scrap since December comes to 32,500 teu and has been solely focused on feeder ships
Timing is 'number one' factor behind successful launches, says Vafias The majority of owners in shipping 'are not very keen on technology,' says Greek shipowner
Vessels diverted as French strikes hit LNG terminals Strike action at all four French LNG regasification terminals were extended, disrupting vessel traffic and forcing the country to tap...
Don't bet on dry bulk demand from China, say analysts Even an optimistic estimate sees Chinese steel consumption growth of only 0.5%-1% this year
Russia's bulk exports to Europe drop 60% Biggest percentage drop for bulk carriers arriving in Europe after leaving Russia was seen in Sweden, Portugal and Denmark, with...
Sunken tanker provisionally declared first pool claim of policy year Pool claims for 2022-23 rise from four to five so far, marine insurance sources indicate
Sanctions take toll on Russian oil exports and revenue, says IEA Russian oil exports fell last month because of the EU ban on refined products
ONE orders 10 neo-panamax containerships ONE made a similar order for 10 neo-panamax boxships last May
KSOE unveils design of nuclear-powered vessel KSOE is heralding its nuclear ambitions, after it sealed a $30m deal with nuclear power development company TerraPower at the...
Daily Briefing Greeks lag Asian owners in new orders | Is PSA's stake in Hutchison Ports a fit for Chinese giants? |...
US regulators approve CP-KCS merger to form first US-Canada-Mexico rail In approving the $31 billion merger, the Surface Transportation Board rejected arguments from the FMC and competing railroads that the deal would harm US ports and shippers.
US truckload rates drop sharply in February, but not LTL pricing: PPIs Trucking is a tale of two sectors in early 2023, with truckload carriers making more significant contract rate concessions than less-than-truckload companies, according to the US producer price index.
Wan Hai consolidates USEC services as market takes 'breather' Wan Hai's two pandemic-era US East Coast services will be merged in a move designed to provide more regular capacity.
US regulators approve CP-KC merger to form first US-Canada-Mexico rail In approving the $31 billion merger, the Surface Transportation Board rejected arguments from the FMC and competing railroads that the deal would harm US ports and shippers.
North American longshore labor talks span coast to coast The rare occurrence - in which multiple longshore labor negotiations across North America are taking place either simultaneously or nearly so - is enough to make shippers nervous, or at least wary, writes Journal of Commerce Executive Editor Mark Szakonyi.
Upturned trans-Pacific market delaying service contract deals Some importers who were ready to finalize their contract negotiations with carriers have pulled back because spot rates in the eastbound trans-Pacific continue to the decline.
Safe Bulkers adds Kristin Holth and CEO's daughter in board expansion Appointments add two women to what had been an all-male board of directors
Greece's Evalend moves into suezmaxes with orders from South Korea's Hyundai Samho Expanding at breakneck speed, shipowner has splashed out over $1.4bn at Hyundai yards over the past two years
Evergreen posts higher yearly profit despite second-half container market slump Profits surge to $12bn as Taiwan liner operator continued to benefit from container market boom
Pangaea Logistics runs another profit in weaker fourth quarter Rhode Island-based owner-operator sells oldest bulker and reports rates weakening further into start of 2023
Older tankers trading for longer? SSY says its a possibility Though tanker ordering is outpacing last year, it is all replacement tonnage, shipbroker says
Globus Maritime sells 16-year-old supramax bulker for $14.1m New York-listed shipowner plans to deliver the ship to new owners in May
DNV's ShipManager servers back online after cyber-attack Classification society says server environment had to be rebuilt and work to resume full scope of service is ongoing after 7 January attack
Affinity opens Rio de Janeiro office to expand chemical tanker business London-headquartered shipbroking group has been branching out in Latin America
Petrobras loses appeal that could cost $3.4bn in taxes over vessel charter deals After administrative challenge results in 'unfavourable ruling', Brazilian oil company considers legal options
Nordic American Tankers catches competitors as fourth-quarter rates trend down Once trailing other New York-listed crude tanker owners, Herbjorn Hansson's outfit is back in the thick of things
Shipowners reactivating older anchor-handlers to combat vessel shortage Shipbrokers say Maersk, Siem and Viking Supply have taken offshore tonnage out of lay up
Eagle Bulk tipped to fly as market set for take-off US owner is now a compelling investment after recent share price falls
'Circus' predicted as owners miss 2024 deadline for ballast water systems Retrofit installations under BWM Convention are likely to spill over into 2025, says Optimarin executive
Banks seek buyer for Bourbon as offshore giant lines up $1bn expansion spend French and Chinese lenders understood to have been trying to offload French shipowner for some time
Greece's Evalend moves into suezmaxes with South Korea orders from South Korea's Hyundai Samho Expanding at breakneck speed, shipowner has splashed out over $1.4bn at Hyundai yards over the past two years
Green Seas: Are small vessels a missed opportunity for slashing carbon? Our weekly environment newsletter explores the way that international decarbonisation regulations leave out the ships that may be in the best position to adopt zero-emission tech
Seaboard completes Miami's first LNG bunkering of dual-fuel vessel Florida operator taps LNG as a fuel with recent vessel purchase
Women in shipping need deeds, not kind words, when it comes to safety Shipping can celebrate Women's History Month by ensuring that colleagues, employers, law enforcement and regulatory bodies step up to ensure women's safety
Furetank's first female ship master says diversity momentum is building Therese Boman is happy to provide an example to other women planning a career at sea
Dual-fuel methanol newbuilds cheaper than LNG but doubts remain, says BRS French shipbroker questions suitability of green fuel for all vessel types
France's CMA CGM buys 12% stake in compatriot Brittany Ferries Shareholding signals commitment to 'long-term partnership' between two French shipping companies
Greece's Evalend moves into suezmax tanker sector with orders from South Korea's Hyundai Samho Expanding at breakneck speed, shipowner has splashed out over $1.4bn at Hyundai yards over the past two years
Share of ships with scrubbers to climb despite 24% drop in retrofits Bimco says more newbuildings are set to be delivered with exhaust gas cleaning systems on board
All about the bio: SEA-LNG urges use of liquefied bio-methane to speed up decarbonisation Pro-LNG industry coalition lobs emissions figures at those backing methanol as a fuelling choice
Owners reactivating older anchor-handlers to combat vessel shortage Shipbrokers say Maersk, Siem and Viking Supply have taken ships out of lay up
China reportedly ends 2020 Australian coal ban Beijing tells ports and customs offices to allow cargoes from Australia, after green-lighting just four major importers in January
Handysize bulker disabled by engine room flooding in New Zealand Chinese-owned Loyalty Hong stuck in Lyttelton after losing power
Safe Bulkers ships out kamsarmax for firm price after Japanese order Greek shipowner finds new buyer for the Efrossini and then charters it back
Energy and commodity trading giant Vitol turns to China for product tanker newbuildings Energy and commodity trader linked to aframax quartet at Shanghai Waigaoqiao Shipbuilding
ONE doubles orderbook with 10 new 'state-of-the-art' large container ships Methanol and ammonia ready neo-panamax boxships to be delivered in 2025 and 2026
Seacon Shipping plans to raise up to $62.26m on Hong Kong IPO Qingdao-based company to allocate funds raised to fleet expansion and setting up new offices
MT Maritime and Maersk sell 20-year-old tankers into MR deal frenzy Connecticut tanker shipowner loses less than $1m in value over 10 years as trio of 2003-built ships find Chinese buyer
Sales see Mangrove slim roster to just two large bulkers named for NFL's Patriots New York investment manager fetches $121m in sale of two newcastlemax bulkers named after linebackers
How much will container lines 'earn' in 2023? It depends on the metric Quarterly net losses could be around the corner for container lines, but EBITDA will stay high even if carriers dip into the red.
Boeing adds 737-800 freighter conversion line in India Boeing is meeting customer demand by adding a facility to carry out passenger-to-cargo conversions in India. Some wonder whether the market will soon be oversaturated.
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