Title XI support sought for CREST Wind SOV According to MARAD's latest listing of applications for Title XI financing guarantees, Crowley SOV I, LLC is seeking a Title XI guarantee for the 288-foot HAV 832 service operation vessel (SOV) on
VIDEO: World's first battery electric shallow draft pushboat The Belov Engenharia shipyard in Salvador, Brazil, has delivered the HB Poraque. The Robert Allan Ltd. designed RApide 2000-E design vessel is the first of the two innovative battery/diesel electric vessels the
Ship Repair USA: When to repower or rebuild? There often comes a time when a vessel owner or operator will need to decide whether to repower and upgraded or rebuild a vessel from scratch. To help owners and operators decide
Hong Kong welcomes world's largest FSRU The world's largest floating storage and regasification unit (FSRU) vessel, FSRU Challenger, has arrived in Hong Kong. Owned and operated by a joint venture of Mitsui O.S.K. Lines, Ltd. (MOL) and Royal
GSBN completes PoC using confidential computing to transform global trade finance Global Shipping Business Network (GSBN) completes a ground-breaking proof-of-concept (PoC) with the British multinational universal bank and financial services holding company HSBC to harness confidential computing technology through Decentriq Data Clean Rooms to transform global trade finance. GSBN is an independent, not-for-profit technology consortium building a blockchain-enabled operating sy
Fuel prices are moving sideways Marine Bunker Exchange (MABUX) indexes did not show a clear trend and moved sideways during the 15th week of the year. In particular, the 380 HSFO index increased to US$511/MT, the VLSFO index rose to US$654.96/MT, while the MGO index fell to US$891.04/MT. The Global Scrubber Spread (SS) - the difference between 380 HSFO and VLSFO - decreased to US$143.64 during Week 15. The weekly average fell b
SCFI logs largest weekly gain in 23 months to settle back at fourth digits The Shanghai Shipping Exchange powered Shanghai Containerized Freight Exchange (SCFI) logging its biggest weekly gain in percentage terms (about 7.95%) since May-2021 to pass the four-digit mark ending at US$1,033. The index has now logged a gain of 14% in just one month, from the recent low of US$906. Its outperforming counterpart until the recent past, the China Containerized Freight Index (CCF
Maersk opens new service facilities in Mexico and Brazil Maersk launches a new Global Service Centres (GSC) for the Americas Region, based in Mexico City in Mexico, with a dedicated satellite centre in Santos, Brazil. The Maersk GSC network is spread across India (Bangalore, Chennai, Mumbai, and Pune), China (Chengdu, Chongqing) and the Philippines (Manila), with a small hub in Morocco (Tangier). Through the new GSC, Maersk will gain regional expertise
Sihanoukville Autonomous Port orders Konecranes equipment for first time Konecranes received its first mobile port crane order from Sihanoukville Autonomous Port (PAS) for two Generation 6 Konecranes Gottwald Mobile Harbor Cranes, which will be delivered in the fourth quarter of 2023. The Cambodian government owns and operates PAS, which is the country's only deep-water port and is vital to the national economy. Sihanoukville Autonomous Port chose to add movable port
MOL pushes ahead with ammonia-fuelled gas carrier Japanese shipowner Mitsui OSK Lines (MOL) and compatriot yards Tsuneishi Shipbuilding and Mitsui E&S Shipbuilding have delivered on the project launched last year to develop an ammonia-powered gas carrier. The 40,000 cu m ship, which can carry ammonia and liquefied petroleum gas (LPG), has received approvals in principle (AiPs) from ClassNK and Lloyd's Register. "This ...
Africa Finance Corporation takes over Røkke's offshore play in Ghana Kjell Inge Røkke is selling his Ghana-focused offshore oil company Aker Energy to the pan-African multilateral development finance institution Africa Finance Corporation (AFC). The deal will see AFC take over the stakes of Røkke-controlled Aker (50.79%) and his family's investment vehicle TRG (49.21%), becoming a 50% owner of the Deepwater Tano Cape Three Points (DWT/CTP) ...
Chevron and Angelicoussis Group explore ammonia shipping Chevron is teaming up with Greece's Angelicoussis Group to explore how tankers can be used to transport ammonia. Ammonia in its liquid form can be used as an intermediate carrier for hydrogen. The partnership will aim to advance ammonia's technical and commercial feasibility at scale, particularly as an export for petrochemicals, power, and mobility markets. ...
Adnoc Drilling clinches $412m contract Adnoc Drilling has confirmed a five-year contract award worth $412m to provide integrated drilling services for the development of the Upper Zakum field, the largest producing field in Abu Dhabi National Oil Company (ADNOC)'s offshore portfolio. The contract, awarded by Adnoc Offshore, is set to start in the second quarter of 2023, adding 20% to ...
BP and EnBW tap Kent for 2.9 GW offshore wind project in Scotland Dubai-based Kent has landed a contract to carry out pre-front-end engineering and design for the 2.9 GW Morven offshore wind project being developed by BP and Germany's Energie Baden-Württemberg (EnBW) in Scotland. The project, located some 60 km off Aberdeen, will use fixed-bottom turbines in 65 to 75 m of water, making it one of ...
Japan to hit 6 GW of offshore wind capacity by 2030 Japan's offshore wind farm market is gaining momentum, with over 6 GW of active capacity expected by 2030. Backed by ongoing seabed auctions and important streamlining of the permitting process, Clarksons Research is projecting that around 600 wind turbines will be added to the 59 in operation today. "While the development of the Japanese wind ...
N-Sea secures work on Dutch offshore wind-powered gas field development Dutch subsea services specialist N-Sea has won a contract from compatriot energy company ONE-Dyas to install a power cable between the Riffgat offshore wind farm and the new to-be-built N05-A gas production platform in the North Sea. The contract includes the complete scope comprising of survey, design, supply, engineering, transport, installation, burial, termination and testing ...
Cash buyers making fortunes flipping vintage tankers The extraordinary sums paid for vintage tanker tonnage in the wake of Russia's war with Ukraine is seeing cash buyers become adept at flipping ships that in normal times would have been heading to the ranks of blowtorch-wielding demolition experts in south Asia. Singapore-headquartered cash buyer Wirana has just added its third VLCC in as ...
Boxship and gas carrier orders smash more records LNG carrier and containership ordering continue to create incredible records. The two ship types have dominated yard contracts for the last two years, sending pricing to all-time highs, and promising to overhaul their fleets in the coming years. During the last 10 quarters, 8.61m teu worth of containerships have been contracted, matching the level contracted ...
China imposes Sunday ship ban north of Taipei Tension remains high for merchant vessels heading past the island of Taiwan in East Asia. China has said it will ban vessels from an area near Taiwan on Sunday because of the possibility of falling rocket debris. The area, about 160 km from the Taiwanese capital Taipei, will be closed from 9am to 3pm, the ...
Cyclone skirts past Port Hedland The world's busiest iron ore export port avoided the brunt of a massive cyclone overnight. Ships had been cleared out of the harbour at Port Hedland in Western Australia ahead of yesterday's arrival of Cyclone Ilsa. Ultimately however the destructive storm skirted the port as it made its way inland with the port reopening this ...
Employers and union at Port of Halifax reach tentative agreement Locals of the International Longshoremen's Association (ILA) and the Halifax Employers Association (HEA) reached a tentative agreement on April 12 for renewal of their collective agreement. Pending ratification, the new agreement is for a four-year term and will run until December 31, 2025. Union members have been working without a collective agreement since December 31, ...
Bear Head receives environmental approval for green hydrogen and ammonia project in Nova Scotia Bear Head Energy has received environmental assessment approval from the Nova Scotia Minister of Environment and Climate Change for the company's green hydrogen and ammonia production, storage and loading facility, Bear Head, in Point Tupper, N.S. Bear Head is permitted for up to 2 GW of hydrogen electrolysers. At full build-out and peak power inflow, ...
PMA says 'illegal actions' continue to disrupt operations at the ports of Los Angeles and Long Beach Tensions remain high in the San Pedro Bay as PMA warns disruptions would have ramifications beyond the ports
Is IMF downgrade unwelcome news for dry bulk shipping? For dry bulk shipping, the slower growth rate in the advanced world will be compensated by strong growth elsewhere, says...
Singapore bunker sales rebound in March Higher vessel arrivals in Singapore resulted in firmer bunkering demand, sending marine fuel sales to pre-pandemic levels
The Wimbledon effect should see London still dominate maritime legal market As long as shipping disputes are by default resolved under English law in English courts, domestic firms have an obvious...
Increase in hull claims as shipping returns to pre-pandemic activity level 'This is in line with expectations, and the claims cost per vessel is still at a very moderate level,' says...
Methanol-fuelled boxships can be economically viable The price of methanol could see slot costs rise by omore than 50%. But if the right steps are taken...
Russian diesel in floating storage peaks post EU ban Lack of buyers in Europe has resulted in a sharp increase of floating Russian diesel storage, as sellers try to...
Chinese port autonomous truck maker eyes further expansion Shanghai-based Westwell has chosen to team up with global operators to extend its reach to more markets
Germany reviewing Cosco stake in HHLA terminal Cosco Shipping Ports' agreement in principle to acquire a minority stake in Hamburg's Tollerort box terminal could be in doubt...
Long-term rates indicate changing sourcing patterns Volumes from Southeast Asia have fallen less than those from the Far East, helping rates remain stronger. Meanwhile, spot rates...
Russian oil exports rise to three-year high, says IEA Russia increased its oil exports in March to the highest point since the early days of the pandemic, while its...
Boxship values remain stable while premiums paid for eco-ships Sales volumes of secondhand containerships have been rising in recent weeks, following a downturn from the fourth quarter of last...
Port Hedland reopens after cyclone closure Pilbara Ports Authority, which runs Port Hedland in northwest Australia, has carried out safety checks and is liaising with terminal...
Hong Kong receives first FSRU vessel Hong Kong's first offshore LNG terminal, jointly constructed by CLP Power Hong Kong and Hong Kong Electric, is the first...
Navigator completes acquisition of five ethylene carriers from Chinese buyer Navigator Gas agreed in September last year to form a 60:40 joint venture with Shenzen-based Greater Bay Gas to purchase...
Daily Briefing Ince sale marks fall of the world's most prestigious shipping law firm | US sanctions Türkiye-based shipowners for ties to...
LA-LB dockworkers target automated terminals as job actions continue Members of ILWU Local 13 have been "red-tagging" cargo-handling equipment at Los Angeles-Long Beach's three automated terminals, which designates the equipment as unsafe and forces an inspection, sources say.
MSC's US chief sees import demand readying for H2 rebound The carrier executive says despite a slow start to 2023, a return to seasonal shipping patterns in August and September could follow a mid-summer lull in import demand.
Hapag-Lloyd files FMC complaint against CSX over rail demurrage fees Growing tension among shippers, ocean carriers, and logistics service providers over free time fees has ratcheted up with Hapag-Lloyd accusing subcontractor CSX of profiting from rail demurrage.
JOC Rankings: MSC, Maersk top two carriers in Gulf Coast in 2022 Although the two carriers are partners in the 2M Alliance, it was the addition of extra capacity in their standalone services that led them to handle a combined 40 percent of the cargo coming into the Gulf Coast last year.
Pacific Maritime Association accuses union of illegally disrupting California ports Association and International Longshore and Warehouse Union Local 13 continue to negotiate new labour contract
Dry bulk market slips as Port Hedland endures cyclone fury during Easter-shortened week China plans to cut steel output, but it may not impact country's iron ore demand, Clarksons Securities says
Prescription refill: International Seaways orders up three more years of poison for John Fredriksen New York tanker owner has extended shareholder rights defence against hostile takeover while lightening some provisions
ABS' Christoph Rasewsky says green container shipping can work - and here's how Box guru says using alternative fuels could be cost-effective if liners take the right steps
Podcast: Inside the effort to defuse the 'time bomb' tanker Audio edition of Green Seas looks at an effort to prevent a catastrophic oil spill from a floating oil storage vessel abandoned off Yemen
Reaping rewards? Synched Brazil and US soybean harvests 'good for panamaxes' Heavy rains in Brazil are expected to extend the growing season into the second half of the year, according to research analyst
Record number of LNG carriers made March US calls as exports hit new peak Clarksons Research says US will become the world's largest shipper of gas later this year
Fearnleys very bullish on tankers as it sees pressure on Opec to reverse cuts Shipbroker sees some short-term weakness but likes the look of the sector long-term
Editor's Selection: Ince insolvent, Vafias spins again and dark fleet goes grey TradeWinds brings you some of the biggest and best stories of the week from our team of international reporters
'I'm in mourning', says last Ince shipping head Julian Clark The financial collapse of the Ince Group came as a shock to insiders including one key figure who was shown the door after trying to save the venerable law firm's shipping practice
Major spill from 'dark fleet' just a matter of time, warn experts Three law experts consider how shipping will respond to a 'dark fleet' casualty as they launch the latest edition of shipping's oil pollution 'bible'
Maersk Tankers' two-month sanctions saga ends with STS off Greece The Maersk Magellan is free to call at EU ports again in a case that highlighted the complexity of Russian sanctions regime
Values of 20-year-old MR tankers hit highest level since 2008 VesselsValue says prices of veteran ships have risen 6% in a month
VLGCs heading for 'softer landing' as newbuildings delayed into 2024, Fearnleys says Fearnleys advisor Mia Groeng downplays fears of deliveries tanking spot rates
Concordia Maritime not 'closing the door' to any opportunity in fleet reboot Erik Lewenhaupt says work continues on concrete proposals to rejuvenate its business
Nordic insurers added $274m in premium income last year Figures show hull, energy and P&I insurance markets remained firm last year
Russia's crude exports breach G7 oil price cap for first time, says IEA Weighted average of Russian crude barrel prices goes above $60 in April
Suez Canal: Torm tanker refloated by tugs after brief grounding LR1 Torm Sara got stuck in the Great Bitter Lake days after a collision between two Greek tankers
Study rules out hydrogen as a viable fuel for handymax bulkers to 2052 Master's thesis from Bluetech engineer Jonas Korpela backs green ammonia and methanol for net-zero operations
Odfjell could earn $500m this year in 'bull cycle', DNB Markets says The investment bank believes the chemical carrier sector should stay strong as product tankers swing away from trades
China United Lines arrests chartered container ship detained in Singapore Liner operator says it was fed up with the vessel's frequent breakdowns and port-state-control detentions
Angelicoussis Group working with Chevron on next-generation ammonia tankers Greek owner launches study with US oil major covering green fuel supply chain
Havfram to need more wind turbine installation vessels after contract win Norwegian owner seals turbine deal with RWE and Northland Power from 2026
Boom and burst: How the container bubble went 'pop' The market tide has turned for container shipping, with the good times now firmly in the rearview mirror
Greek shipowner Evalend firms up suezmax orders at Hyundai Samho The company will pay $85.25m each for the scrubber-fitted vessels
Stolt Nielsen backs green coatings start-up GIT in $7.5m fundraiser Norwegian tanker owner among latest investors to back Canadian coatings start-up
GTT runs out of road in legal fight as Supreme Court of Korea rejects appeal LNG containment system designer notes 'surprising decision' that will allow yards to move in on technical assistance
Gotland picks Austal to design world's first large hydrogen catamaran Australian shipbuilder tasked with making 'Destination Zero' a reality for Swedish owner
Merlin to deliver Alaska cargo with self-flying aircraft Artificial intelligence, not magic, allows Merlin to operate small aircraft without a human pilot.
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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