MSC Cruises in LOI on e-LNG procurement MSC Cruises is already looking beyond fossil LNG. In parallel with signing a long term agreement with Gasum for the supply of LNG to its new flagship MSC Euribia, it has signed
Everett Ship Repair completes major project Everett Ship Repair in Everett, Wash., has recently completed hull repairs and upgrades on the MV Excellence, a fisheries mothership processing vessel built in the 1970s in Japan. The 367.5 x 56
Damen Cape Town delivers versatile plow tug South Africa's Transnet National Ports Authority (TNPA) last month took delivery of a new plow dredging tug from Damen Shipyards Cape Town. TNPA uses plow dredging for bed leveling to smooth out
Tentative agreement reached on new West Coast ports labor contract Noting the role played by Acting U.S. Secretary of Labor Julie Su, the Pacific Maritime Association and the International Longshore and Warehouse Union yesterday announced a tentative agreement on a new six-year
Survey shows Indian e-commerce industry will surpass the US by 2034 Shiprocket X, a cross-border shipping product of Shiprocket, India's largest e-commerce enablement platform, recently released its survey study, 'The State of Cross-Border Trade'. The study uncovered some interesting global insights, including India's ranking of ninth in global cross-border growth. India's total merchandise exports exceed US$100 billion for the second consecutive quarter, totalli
European ports jointly seek EU funding to address environmental challenges A newly signed Memorandum of Understanding (MoU) between Ports of Stockholm, Freeport of Riga Authority and Riga Ropax Terminal is expected to be the driving force behind a joint application for European Union (EU) funding to reduce the impact of port activities on the environment and climate in the areas surrounding the passenger terminals in the aforementioned capital cities. Latvia's Freeport
Crunching the Numbers: Understanding Interest Rates in Trucking Industry Financing In the realm of trucking business finance, navigating interest rates can be a daunting task. However, understanding these financial dynamics is vital for your trucking company's growth and profitability. This article aims to shed light on the complexities of interest rates in the trucking industry and provide you with practical strategies for leveraging these rates to your advantage. The Basics o
Binary Options Trading 101: Everything You Need to Know to Succeed in the Industry Binary options trading is a fascinating way to invest in the financial markets. It is an innovative method that offers the opportunity to earn a profit by predicting whether the prices of a variety of assets will rise or fall within a specific time-frame. However, before diving into this exciting world of investment, it's important to understand how it works. One critical aspect of trading is fin
Wärtsilä to extend regasification capacity for Croatian LNG terminal Technology group Wärtsilä has been contracted to extend the capacity of the regasification system installed onboard the 'LNG Croatia' with a new regasification module. The order for the new system was booked by Wärtsilä in the second quarter of 2023. In particular, the 280-metre-long Floating Storage and Regasification Unit (FSRU) vessel, owned by Zagreb-based LNG Hrvatska, acts as the company's
Container exports from Asia to the US plunge in May Container exports from 10 major Asian economies to the United States reached 1,474,872 TEUs in May, based on volumes at ports of origin where container carriers are loaded with shipments, according to statistics compiled by Descartes Datamyne from Automated Commercial Environment (ACE) and bill-of-lading (B/L) data provided by the US Customs and Border Protection (CBP). This figure is 20% lower t
Kuehne+Nagel appoints new managing director for India, Sri Lanka and Maldives Global logistics company Kuehne+Nagel has announced that David Roussiere will be the company's new managing director for India, Sri Lanka and the Maldives. Commenting on this appointment, David Roussiere noted that "India has enormous potential and a rapid growth trajectory, backed by strong government support." Roussiere has a background of over 20 years of experience in the logistics industry.
Cai Mep International Terminal marks new productivity record Vietnam's Cai Mep International Terminal (CMIT) handled nearly 7,000 TEUs of import, export, transshipment and empty containers, setting a new productivity record of 233 containers/hour, with Maersk Emden in the TP6/Pearl service of the 2M Alliance, which connects Vietnam with the US West Coast. CMIT said this performance enabled Maersk Emden to depart three hours ahead of schedule, facilitating
Biggest weekly dive for Drewry's WCI in six months even as US West Coast congestion looms The Drewry World Container Index took its largest ever weekly dive of 5.3% to end at US$1,592, its lowest in 36 months, as transpacific rates returned to lead the weekly dip. Despite the signaling looms of congestion in the US West Coast owing to port union strikes, with ports in the west coast reporting congestion of five days (Los Angeles and Long Beach) to nine days (Seattle), the rates cooled
Shipping lines shrink bunker surcharges as marine fuel prices correct Mainline operators are cutting bunker surcharges in view of the sharp decline in marine fuel prices over the past six months, according to Alphaliner's latest report, released on 14 June. Although bunker expenses were highlighted by some carriers as a cost factor in 2023 first quarter results, marine fuel prices have been on a steady decline since mid-2022, and are expected to fall further. In Ro
CMA CGM announces new service linking Asia with Turkey, Libya and Red Sea CMA CGM introduced its new seasonal weekly service TLX (Turkey Libya Express) connecting Asia with Turkey, Libya and the Red Sea. The service will commence on 1 July 2023 from the port of Shanghai with the 2,478 TEU vessel Buxlink. The new TLX service, which will be solely operated by the French container line, will include weekly sailings from Central and South China to Jeddah with connections t
Nautilus Labs launches Green CharterTM to transform charter parties for ocean supply chain decarbonisation Green CharterTM is a new offering from Nautilus Labs, a technology company pioneering the decarbonisation of the ocean supply chain. Green CharterTM implements new legal frameworks into charter party agreements using machine learning-based data streams, establishing Nautilus as a trusted, independent, shared source of truth for ship owners and charterers to increase transparency and collaboration.
ONE equips its reefer fleet with telematic devices Ocean Network Express (ONE) unveiled its plans to install telematic devices on its reefer container fleet. The Japanese box carrier said it seeks to provide clients with comprehensive visibility of their cargo as well as optimised operational decision-making through the use of telematic devices. ONE described its latest move as a "significant milestone in its digitalisation strategy". The company
Maersk enhances UAE-India-Oman service with additional port call Maersk has announced an addition of a new call at Sohar port in Oman to its ocean shipping service Shaheen Express from 3 July 2023. The Shaheen Express will rotate between Jebel Ali (UAE), Mundra (India), Pipavav (India), Jebel Ali, and Sohar (Oman), creating a service for the India-UAE-Oman corridor. Maersk is expected to use two 2,800 TEU container vessels in the service. According to the Dani
CMA CGM unveils new setup of its NC Levant service CMA CGM has announced a new service setup for its NC LEVANT aiming to improve schedule reliability and enhance service efficiency. The French box line has decided to add a northbound call in the Italian port of Salerno. With this addition, CMA CGM believes it will provide market opportunities by establishing a direct maritime link from Italy to Northern Europe. Furthermore, CMA CGM will deploy an
ONE launches new intra-Asia service Singapore-headquartered ocean carrier Ocean Network Express (ONE) has announced the launch of the new Korea China Straits 2 (KCS2) service. The new service will commence from the port of Pusan on 6 July with the following rotation: Pusan (South Korea) - Kwangyang (South Korea) - Shanghai (China) - Sekou (China) - Singapore - Port Klang (Malaysia) -Penang (Malaysia) - Singapore - Cat Lai (Vietnam)
PMA, ILWU agree on new six-year US West Coast labour contract The Pacific Maritime Association (PMA) and the International Longshore and Warehouse Union (ILWU) announced a tentative agreement on a new six-year contract covering workers at all 29 West Coast ports. The deal was reached on 14 June with assistance from Acting US Secretary of Labor Julie Su , as both parties agreed that she played a key role in the negotiation process. "Thanks to the hard work a
Misurata Free Zone, HPC ink agreement for three STS box cranes Misurata Free Zone, the operator of Libya's renowned Port of Misurata, signed a deal with HPC Hamburg Port Consulting for the procurement and construction supervision of three Ship-to-Shore Container Gantry Cranes (STS). The signing ceremony took place during the TOC Europe event in Rotterdam. The purchase of two contemporary gantry cranes is expected to boost Misurata's status as a major gateway
Castor Maritime flips another bulker Cyprus-based Castor Maritime has offloaded its 2010-built kamsarmax bulk carrier at a net gain of around $4m. The Nasdaq-listed bulker and boxship owner will deliver the 80,300 dwt vessel to an unaffiliated third party during the third quarter of 2023 for a price tag of $17.5m. Castor picked up the vessel from Aegean Bulk in ...
Arriva Shipping continues fleet renewal with newbuild order in China Norway's Arriva Shipping is pressing ahead with its fleet renewal having placed an order for an 8,500 dwt battery hybrid dry cargo vessel in China. The Jarle Matre-controlled company has contracted Dayang Offshore Equipment Co to have the vessel delivered in the first half of 2025. This will be a sister vessel of the company's ...
Knutsen NYK Carbon Carriers to transport CO2 to CCS project offshore Australia Pilot Energy and Knutsen NYK Carbon Carriers have signed an MoU to work on offering an integrated solution for marine transportation and offshore injection of CO2 at the Cliff Head CCS Project off Australia.
Columbia coalesces around new brand One of the best known names in shipping has had a rebrand to bring its diverse businesses together. The Columbia Group launched today, marking the culmination of the collective strength and expertise of its group companies that, moving forward, will provide the full spectrum of integrated maritime, logistics, leisure and energy services. Columbia Group said ...
North Star orders offshore wind daughter craft duo Vessel operator North Star has awarded a new contract to Alicat Workboats for the construction of two new offshore wind daughter craft.
Wilson signs for up to 14 bulker newbuilds in India Norway's Wilson has commissioned India's Cochin Shipyard to build up to fourteen 3,800 dwt "future-proof" bulkers with a focus on environmental benefits, flexibility, and efficiency. The mini-bulker giant, controlled by shipowner Kristian Eidesvik and his family, has booked six firm vessels for delivery in 2025 with options for eight more. No price has been revealed. ...
MOL joins CTV market with Ishikari Bay wind farm charter deal MOL has inked a time charter contract with Shimizu Corporation for two CTVs for work on the offshore wind farm at Ishikari Bay New Port.
What I'd like to see come out of next month's MEPC meeting Khalid Hashim, managing director of Thai-listed dry bulk owner Precious Shipping, lays out his green vision for shipping. Next month the Marine Environment Protection Committee (MEPC) will meet at the headquarters of the International Maritime Organization (IMO). It is a crucial meeting, and one where concrete action is needed to ensure the industry is given ...
Acta Marine doubles order tally for CSOVs in Turkey Dutch offshore vessel owner Acta Marine has signed for two more methanol dual-fuel commissioning service operation vessels at Tersan Shipyard in Turkey lifting its orderbook to four. The shipyard confirmed an option had been exercised under a deal that included two firm units for delivery in the third quarter of 2024 plus two additional newbuilds ...
Suezmax rates surge as Nigeria issues tanker owners with backdated tax demands The Nigerian government has spooked the tanker industry by issuing backdated tax demands for millions of dollars to a number of owners, with some tanker firms now actively avoiding the West African nation over fears of possible vessel arrests. Tanker organisation INTERTANKO has sent a memo to its members outlining the new tanker taxes covering ...
Vela unveils 100% wind-powered cargo trimaran design Designer and shipowner of new-gen cargo sailboats VELA has unveiled the design of the first-ever trimaran cargo ship powered 100% by wind power.
TechnipFMC scores Australian subsea contract UK-based subsea giant TechnipFMC has secured a contract from Australia's Woodside Energy for the Julimar Phase 3 development, offshore Western Australia. The contract worth between $75m and $250m covers engineering, procurement, construction and installation of flexible pipes and umbilicals. The New York-listed company will tie back four subsea gas wells in the Carnarvon Basin to ...
US lays out its green goals for shipping ahead of MEPC 80 Ahead of next month's crunch talks at the 80th gathering of the Marine Environment Protection Committee (MEPC) at the headquarters of the International Maritime Organization (IMO), the US has weighed in, giving member states a clear view of what Washington DC would like see in terms of outcomes. Sue Biniaz, the US deputy special envoy ...
New offshore wind player targeting Greek market Simply Blue Group and Archirodon have formed a new company named ArcoBlue to explore floating offshore wind development opportunities in Greece.
Deal struck for new six-year labour contract along the US west coast The Pacific Maritime Association (PMA) and the International Longshore and Warehouse Union have finally reached a deal for a new six-year labour contract at 29 west coast ports, bringing to a close a fraught 13 months of stalled negotiations, walk-outs and cargoes emigrating to alternate locations. The deal was reached with assistance from acting secretary ...
MOL invests in American hydrogen-ammonia production facility MOL Clean Energy (MCE), an American subsidiary of Japan's Mitsui OSK Lines (MOL), has invested in Ascension Clean Energy (ACE), a proposed clean hydrogen-ammonia production and export facility in Ascension Parish, Louisiana. Among other shareholders in the American firm is BW tanker subsidiary Hafnia. Details of the specific size of the investment from MOL have ...
Price cap forcing Russia to consider "desperate" changes, US official says Price cap helped pushed Russia's oil revenues down nearly 50% in the first five months of the year, Adeyemo said...
High interest rates attract new lenders to shipping More institutional investors could be tempted to come to the fore, or investors with a specific focus on environmental, social...
Location lures interest to Greek ports The country has made leaps forward in recent years as a logistics hub
Greek voyages evolve in line with changing trade flows Greek shipowners respond to the evolving demands of the global market and have been diverting from Asia to focus on...
Shippers wary of carbon tax being the 'mother of all bafs' Shippers want to decarbonise but need greater clarity on how extra costs are established. A carbon tax should not just...
Maersk's bio-methanol supplier expects rising demand from shipping OCI Global, bio-methanol supplier for Maerk's first dual-fuel vessel that will be delivered this summer, expects more demand from the...
Container line operators rush to secure large boxship charters on forward basis Major container line operators are increasingly having to secure large chartered containerships on a forward basis due to a lack...
Greek newbuilding investment surges in 2023 Newbuilding contracts placed so far this year have been dominated by crude oil tankers and products tankers, including dual-fuel LNG...
Greek banks are 'here to stay' Senior shipping bankers believe the Greek banks may increase their portfolios further, but that is a difficult task while -...
Return to normal tanker trade patterns will be slow process Even if the Russia's incursion into Ukraine ended tomorrow, it would take time for sanctions to be lifted, meaning the...
Columbia Group launched to integrate diverse maritime services O'Neil's chairman, Heinrich Schoeller, is fully behind the evolution of Columbia as a brand. There are echoes of the single...
MOL invests in US hydrogen-ammonia production project The planned proposal is expected to produce 7.2m tonnes of clean hydrogen-ammonia per year
CSSC's marine power arm ties up with BASF on carbon capture system BASF and CSSC Power aim to develop an carbon capture system that operates on board a ship. This will be...
ONE to install telematic devices on reefer box fleet The new systems will give customers comprehensive visibility of their cargo and help optimise operational decision-making. This will enhance ONE's...
Weak demand will continue to determine box rates outlook Even with threats of further disruption, freight rates have fallen back to around their pre-pandemic norms. Higher living costs and...
May volumes raise hopes at port of Long Beach The port of Long Beach had its strongest month since August, marking a third consecutive month of gains, raising hopes...
Daily Briefing We can achieve a bold, ambitious climate strategy, says IMO secretary-general | EU needs €13bn to reach 5% renewable marine...
Tentative West Coast longshore deal triggers lengthy ratification process After 13 months of contentious negotiations that spawned numerous job actions by dockworkers, the ILWU and waterfront employers will engage in a ratification process expected to take several months.
Teamsters asks Yellow workers for contract talk 'priorities' Despite disagreement over Yellow's restructuring plans, the Teamsters union is taking a first step toward opening contract talks by surveying 22,000 union members online.
Inefficiency, cost holding back UK domestic rail freight: shippers While demand for domestic rail freight in the UK grows, the network's ability to handle the more complex smaller shipments has been criticized by cargo owners.
Hungry domestic market driving US Southeast cold storage development Refrigerated warehousing construction is "exploding" in the US Southeast, as one port executive put it, thanks to a growing population and increased for imported produce and other food products.
ILWU, US West Coast employers reach tentative deal on new six-year contract The deal, subject to ratification by both parties, ends 13 months of contentious negotiations marked by on-again, off-again job actions that disrupted port operations on the West Coast and diverted growing volumes of cargo to the East and Gulf coasts.
Polembros grabs early suezmax slots at New Times shipyard in China Keen to secure modern vessels to serve clients, traditional shipowner books its first tankers in several years
'Stability and confidence': US West Coast dockworkers and employers reach tentative labour deal Reported port disruptions by unionised workers could have eventually impacted supply chains, analyst says
Podcast: Are contracts the key to unlocking emissions cuts in shipping now? A bonus episode of the Green Seas audio edition explores how deep-rooted commercial structures prevent collaboration and incentivise inefficiency
Gram Car Carriers finishes share repurchase plan Shipowner splashes NOK 51m on 300,000 of its own shares
'Fun' year: Kvalheim's Champion Tankers group logs record profit Bergen shipping company profited from rocketing product and freight rates in 2022
Streetwise: Is artificial intelligence a source of hope or concern in shipping's future? Technology has often been a divisive issue, with some moved to extremes, but investment bank Jefferies offers a composed take
Newbuild suezmaxes buck trend with Russian trades Fleet hauling Russian barrels is older than the mainstream tanker fleet but can secure higher rates
VLCCs make rare appearance topping Baltic Exchange tanker charts Rising rates for the largest crude carriers puts smaller vessels in the shade for the first time since March
'Not fair': director Bakke Agerup rejects Wilhelmsen's offer for Treasure Independent board members stopping short of offering definitive opinion to other shareholders, however
Tersan Shipyard to build two more C/SOVs for Acta Marine using green energy Dutch owner declares options as yard says it will use wind and solar power to construct them
Arriva Shipping continues fleet renewal with Chinese cargo ship order Norwegian owner heads to Dayang Offshore Equipment Co for new 8,500-dwt vessel
IEA forecast has analysts predicting tonne mile boost for tankers Refining capacity in China and India through 2028 expected to mean more tanker demand
Norden kick-starts capesize desk with new hire from Oldendorff The aim is to build up asset-light capesize business, CEO Jan Rindbo tells TradeWinds
How to hack a bulker with a child's computer and a $500 bung Cyber researchers manipulate the position of a ship with simple tech tools downloaded from the internet
Denmark stays top of Paris MOU White List rankings World's largest flag state, Panama, drops down to the Grey List
Louis Dreyfus orders CTV against Siemens Gamesa charter Joint venture with Tidal Transit heading to Strategic Marine yard in Singapore
Gasum inks LNG fuel supply deal with MSC Cruises Companies to cooperate on the supply from 2026 of synthetic or e-LNG made with renewable energy
Norden kickstarts capesize desk with new hire from Oldendorff The aim is to build up Norden's asset-light capesize business, CEO Jan Rindbo told TradeWinds
BW LPG's buyback sees it nab $9.7m in shares, well short of hopes Andreas Sohmen-Pao company still sees repurchases as an option moving forward
Global Maritim says small fire on tanker damaged only some paint and a vent valve Product tanker expected to resume loading after class checks in Singapore
Rig utilisation rates return to pre-Covid levels, says Wood Mackenzie Newbuildings could be on the horizon for the offshore sector if markets continue to improve
Kristian Eidesvik's Wilson orders up to 14 multifuel-ready bulkers at Cochin Shipyard Mini-bulker specialist says flexibility is the key for its new ships
Evangelos Marinakis' Capital Maritime inks tanker orders at New Times Shipbuilding Greek company's spending on tanker newbuildings at the Chinese shipyard could top $1bn if options and LOI are included
Russia restarts oil product exports to North Korea after two-year break UN figures show exports resumed in December 2022 as two countries improve ties
MOL and Hafnia pump money into $7.5bn US clean ammonia and hydrogen project Shipowners part of new cash injection into Louisiana-based Ascension Clean Energy
P&I clubs play critical role in UN emergency operation for timebomb tanker International Group members provide cover for salvage company and tanker involved in ship-to-ship transfer
Global Maritim product tanker fire extinguished in Singapore Prompt action from local emergency response services saw blaze on Rosa Dini put out within two hours
Greek shipowners Dynacom and Capital Maritime eye large crude tanker newbuildings Competitive pricing is luring leading Greek names back to big tankers
Maersk Solstice will run 100% on green methanol for debut voyage, OCI says Dutch company's methanol CEO sheds more light on pioneering trip from South Korea
China coal imports surge on the back of economic recovery, say brokers The world's largest importer of coal has seen a big jump in volumes, but can it last?
China coal imports surge in early 2023 on the back economic recovery, say brokers The world's largest importer of coal has seen a big jump in volumes, but can it last
Japan's SMTB and Credit Agricole boost ship finance partnership Leading Japanese and French lenders to switch focus toward big ticket sustainability projects
Bangladesh triggers race to bring Hong Kong Convention into force Behind-the-scenes diplomatic moves at play to get controversial recycling convention over the line this year
West Coast port labor deal reached; peak season chaos averted The U.S. supply chain has dodged a bullet. A new dockworker labor deal will keep the peace at West Coast ports.
Air cargo's busy season looking more like molehill than mountain peak Cargo airlines and third-party logistics providers are crossing their fingers for a resurgence of air shipments by October. But indications are increasing that the peak season may go out with a whimper.
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.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
