Grounded expedition ship pulled free Passengers and crew aboard the grounded expedition ship Ocean Explorer did not, after all, have to wait for the Danish inspection ship Knud Rasmussen to arrive to free the vessel from the
APM Terminals enhances truck drivers safety in Mumbai APM Terminals aims to enhance safeguarding for truck drivers in Mumbai developing "lock arrester" to keep truck drivers safe. APM Terminals said that around 3,500 trucks enter AT Gateway Terminals India (GTI), APM Terminals operation in Mumbai, India every day. Some had become accustomed to getting down from their trailer cabin to check if the trailer was unlocked from the container it carried. T
OCI Global inks green hydrogen supply deal with New Fortress Energy's ZeroParks Following a competitive bidding procedure, OCI Global, a producer of ammonia and methanol, announced a deal to offtake green hydrogen from New Fortress Energy Inc.'s (NFE) ZeroParks commencing in 2025. The agreement will allow OCI Global to increase its green ammonia production capacity in Beaumont, Texas, to about 160,000 tons per year. The deal follows New Fortress Energy's announcement of a 10
Mawani achieves container increase in August The Saudi Ports Authority (Mawani) announced that its ports achieved an increase in the number of handling containers during August by 4.79% year-on-year, moving 721,629 TEUs. In particular, the number of export containers witnessed an increase of 5.98% to reach 218,051 TEUs, while import boxes increased by 1.91% to 226,738 TEUs. At the same time, transshipment containers recorded an increase of
Port of Rotterdam and PortLiner to build electrolyte bunkering station The Port of Rotterdam Authority and Dutch inland shipping operator PortLiner inked a contract for the building of a flow battery charging and storage pontoon in the Hartelkanaal. PortLiner will deliver flow batteries to electrically powered inland vessels from this bunkering station. Construction is anticipated to begin in the fourth quarter of this year, with the first electrolyte bunkering stat
Waiting times not exceed two hours at Tokyo Port Terminals Average waiting times at Tokyo Port Terminals were more than one hour at seven terminals and less than one hour at five terminals on 8-29 May, according to a survey conducted by the Tokyo Trucking Association (TTA) on the 12 container terminals at the Port of Tokyo's Aomi, Central Breakwater Outer, Oi and Shinagawa wharves. "Waiting times, however, did not exceed two hours at any of the 12 termin
Ports and Cargo Handling Services now member of Portchain Connect network Ports & Cargo Handling Services Limited has joined the Portchain Connect network. Through digital handshakes and secure data sharing, Ports & Cargo Handling Services will improve the quality and speed of their berth alignment with clients. Portchain said it is thrilled to collaborate with Ports & Cargo Handling Services to enhance overall berth alignment and simplify communication channels. Portc
HMM proceeds with green sailing service using marine biofuel HMM conducted a trial use of a sustainable marine biofuel on its 6,400 TEU container ship HMM Tacoma calling in Busan, South Korea. In particular, HMM Tacoma, operated in FIL service connecting Far East, India and Latin America, was refuelled with the biofuel blend during its bunkering at the Port of Busan. According to the company, this marine biofuel, supplied by GS Caltex, consists of 30% biod
Cargo volume at Port of Los Angeles increase in August In August, the Port of Los Angeles (POLA) handled 828,016 TEUs, a 3% increase over the same month the previous year. That was the port's first year-on-year monthly increase in the last 13 months. Loaded imports totalled 433,224 TEUs in August 2023, a 7% increase over the previous year, loaded exports reached 124,988 TEUs, a 22% increase over August 2022 and empty containers reached 269,804 TEUs,
MABUX global prices continue to grow The Marine Bunker Exchange (MABUX) global indices continued to rise in Week 37. The 380 HSFO index increased by US$8.95. In turn, the VLSFO index rose by US$9.12, while the MGO index increased by US$21.67. "Bunker indices were still rising at the time of publication," commented a MABUX official. The Global Scrubber Spread (SS) - the price difference between 380 HSFO and VLSFO - remained relativel
Scan Global Logistics enters Swiss market with new acquisition Scan Global Logistics (SGL) has completed its third acquisition this year by adding Switzerland-based transportation and logistics provider Belglobe to its growing global portfolio across 48 countries. With the acquisition of Belglobe, SGL is expected to gain immediate proximity to multinational companies' central procurement and supply chain management. Additionally, another advantage is Switzer
Iran seizes two vessels in oil smuggling probe Iranian forces have detained two ships in the Persian Gulf and arrested their crew for allegedly carrying smuggled oil. The Iranian state news agency Irna said that the Revolutionary Guards Navy seized two vessels flying the flags of Panama and Tanzania, accusing them of smuggling over 1.5m litres of fuel. Local media reported, citing deputy ...
Bunker platform ENGINE launches fuel trading service Five years after launching a bunker information and news platform, ENGINE has diversified into bunker trading and launched a new worldwide marine fuel trading service. ENGINE said that the decision to expand into trading and the creation of the fuel trading platform, named ENGINE X, came after witnessing the difficulties clients frequently face when executing ...
BW Offshore completes sale of Nigerian floater Oslo-listed BW Offshore has completed its non-core fleet divestment programme with the sale of the floating production storage and offloading (FPSO) unit Abo, operating offshore Nigeria. STAC Marine Offshore, a member of the Nigerian Transport Group (STAC) has purchased the vessel converted from the 1976-built aframax tanker for $20m. The FPSO has been operating for ...
CIP and Andel team up for Danish offshore wind bid Danish fund manager Copenhagen Infrastructure Partners (CIP) and compatriot energy and fiber network group Andel have joined forces to bid on two offshore wind projects in Denmark. Earlier this year, a political agreement laid the foundation for the largest Danish build-out of offshore wind historically at 9 GW. The Danish authorities have designated areas for ...
Maersk investing in Rijeka terminal A joint venture between Maersk's terminals unit and Croatia's ENNA Group has marked the beginning of the construction of the future €380m ($405m) Rijeka Gateway terminal - the largest investment in the history of the Croatian port of Rijeka. The container terminal, which will start operating in 2025, will be developed in two phases, with ...
Private debt market data highlights the sliding fortunes of various shipping sectors Oceanis, a German online ship finance platform, has released data highlighting the changing fortunes of the various shipping sectors, numbers that make for good reading for those involved in the offshore support vessel (OSV) sector and less so for anyone involved in container shipping. Over the last three years oceanis has been tracking published shipping ...
COSCO seals China's first ESG-linked shipping loan COSCO Shipping Energy Transportation (CSET), the oil and gas shipping unit of COSCO Shipping Group, has signed up for the first syndicated shipping loan in China linked to environmental, social, and corporate governance performance. The CNY1.5bn ($206m) three-year loan was agreed with the Bank of China's Shanghai Branch and COSCO Shipping Financial Co. The deal ...
HMM aims to have up to 10% of its fuel mix coming from biofuels by 2026 HMM, South Korea's flagship line, intends to have as much as 10% of its fuel mix coming from biofuels by 2026. HMM announced today that it conducted another trial use of a sustainable marine biofuel on its 6,400 teu containership HMM Tacoma calling in Busan. This marine biofuel consists of 30% biodiesel derived from used ...
MSC faces growing opposition to Hamburg port deal Some of the wealthiest citizens of the Hanseatic port of Hamburg are huddling, working out strategies to fend off the arrival of the Apontes from their city. This week's biggest shipping news story - the decision by Gianluigi Aponte-founded Mediterranean Shipping Co (MSC) to bid $1.4bn for a 49.9% stake in port operator Hamburger Hafen ...
New hydrogen system for liquified hydrogen carriers gets stamp of approval HD Korea Shipbuilding & Offshore Engineering (HD KSOE), along with its subsidiaries HD Hyundai Heavy Industry and Hyundai Mipo Dockyard, have received approval in principle from class society DNV for their new hydrogen system for a liquified hydrogen carrier. This new system utilises boil-off gas from hydrogen transport for a hybrid propulsion system, integrating hydrogen ...
Norway assessing three new areas for offshore wind farms The Norwegian Government has instructed the country's Directorate of Water Resources and Energy (NVE) to start assessing three new offshore wind areas so that they can be open for tendering in 2025. For the tendering round in 2025, NVE has recommended that the government consider the possibility of the already open areas Sørlige Nordsjø II ...
Vattenfall set to develop 630 MW offshore wind farm in Germany Sweden's Vattenfall has obtained the right to develop the N-6.6 offshore wind power project off the German North Sea coast. The German Federal Network Agency provisionally awarded N-6.6 to RWE, but Vattenfall took over the project after exercising its right of entry. The company did so with the N-7.2 project - otherwise known as Nordlicht ...
Shipyard surprises in latest rankings: Samsung on top, Oshima above Imabari The Geoje shipyard of Samsung Heavy Industries in the far southeast of South Korea has the largest orderbook backlog of all individual yards globally today at 11m cgt - about 9% of the global orderbook - and 17.9m dwt, according to the latest statistics from Clarksons Research. In terms of individual yards - as opposed ...
SBM Offshore, Mitsubishi Heavy team up for FPSO CO2 capture solution Dutch floater expert SBM Offshore and Japanese shipbuilder Mitsubishi Heavy Industries (MHI) have signed a partnership agreement that will offer a CO2 capture solution for FPSOs during oil and gas production from offshore reservoirs. The agreement follows an engineering and design study between the companies demonstrating the technical feasibility and commercial readiness of CO2 capture ...
How I learned to stop worrying and love the green transition The way we pay for our bunkers will change this decade. Carl Martin Faannessen, CEO of Manila-based Noatun Maritime, explains why. The energy landscape is shifting beneath our feet and keels. As in any tectonic shift, there is no shortage of headlines ridden with exclamation marks and visions of endless problems. But they are mostly ...
What is green about methanol? Maersk is to be applauded for its ambition. But for mass adoption of methanol fuel to make environmental sense, the...
Crude tanker demand to rise on oil shortage, says Jefferies Crude tanker demand is likely to increase until 2024 driven by rising oil demand and low inventories, according to Jefferies
Greek courts can overturn English law clause in Alexandros T case, CJEU rules Insurers may be among last to be hit by old 'Italian torpedo problem'
UK launches green corridor fund The UK is involved in at least two important green corridor projects that are still in their development phase, however...
Dynagas Partners sees positive outlook for LNG carriers Six-ship fleet is fully employed to end of 2027 after recent deals with Rio Grande LNG
Arkas seeks fleet renewal to comply with IMO carbon intensity rules Arkas aims to set a net zero target in 2024, while acknowledging that there may be a lag in alternative...
'Influencer' Maersk isn't just betting on methanol 'If we had waited for the perfect solution we'd not have enough time to reach our commitment to reach net...
Shipowners' Club sees half-year combined ratio drift out slightly International Group affiliate proves ability to provide P&I cover at cost, says chief executive Peacock
Doubts over G20 economic corridor's ports and logistics promise Jayendu Krishna believes the G20's answer to China's Belt and Road initiative offers little additional momentum for ports and logistics...
Los Angeles and Long Beach edge near 2019 levels in August Last August was the beginning of the end for the LA port's pandemic-induced shipping boom, with volumes falling 6.4% below...
Multiple pathways, not a silver bullet is solution to decarbonisation Gas advocates urged the industry not to dismiss LNG fuel as an interim solution to decarbonisation. Meanwhile, participants at Gastech...
Third of policy makers unaware of wind propulsion - survey Wind propulsion technologies can cut emissions by 5% to 20% depending on routes and could prove significant when more expensive...
US targets Turkish shipping support and Arctic ambitions in latest Russian sanctions Latest round of US sanctions has sent a warning to Türkiye over support for Russia's maritime circumvention of sanctions while also...
Daily Briefing FMC chairman sees improvements in carrier conduct | Shell Marine head affirms focus on slashing emissions, not offsets | Ground-breaking boxship...
J.B. Hunt brokerage acquisition deepens partnership with BNSF The division of BNSF Logistics between BNSF Railway and J.B. Hunt is aimed at helping to improve service to joint customers at a time when freight demand is weak.
Logistics provider GXO buys PFSweb amid end-to-end fulfillment rush The deal comes on the heels of other acquisitions and new services launched this week at several logistics and transportation providers, all aimed at expanding their ability to deliver end-to-end global fulfillment services.
Possible MSC deal brings 'respite' for competition-hit HHLA: Drewry The carrier's commitment to bring an additional 1 million TEUs per year across HHLA's wharves in Hamburg if it wins a bid for almost half the company will come as an attractive sweetener for the terminal operator.
Low rates, poor service to mark trans-Pacific trade amid capacity boom Although importers can look forward to paying low freight rates at least into 2024 due to weak volumes and significant overcapacity in the trans-Pacific, aggressive capacity reductions through blank sailings will disrupt service levels, this week's IANA conference was told.
Ocean carriers on India-US trade cut sailings to keep rates afloat The Indamex 2, the weekly loop touted as the fastest connection between western India and the US East Coast, is set to see a 50% capacity reduction for loads out of India this month.
Estes expands international forwarding, raises bid for Yellow terminals Estes Forwarding Worldwide, a subsidiary of the LTL trucking provider, is buying Superior Brokerage Services, a step that increases Estes' ability to offer end-to-end logistics services as other providers look to do the same.
Container spot market sinks under weight of growing supply and Golden Week Liner operators may hold blank sailings to reduce supply and raise rates, Clarksons Securities' Frode Morkedal says
Dry bulk spot market mounts week of broad gains as bauxite and South American grain trades surge Positive sentiment from China's pending economic stimulus money also lifts spot rates, expert says
Melissanidis and Aegean Marine finance chief strike deal to end securities litigation Both men deny claims in case over allegations of fraud and insider trading
Economou turns up the heat on Performance Shipping board with proxy fight Greek tycoon nominates his own director candidate and seeks resignations from existing board members
OSG buys back $11.4m in warrants from Cyrus Capital Chief executive Sam Norton says US-flag tanker owner views the repurchase price as 'attractive'
Dynagas LNG Partners is sold out on its ships until 2028 Company flags up 'unscheduled' dry-docking for its vessel Ob River
Midsize bulker market reaches four-month high as peak US Gulf export season gets underway Capesize bulker sector has not done as well as its average spot rates fall 51% in same period
Rapidly filling orderbook will not end the advance of LR2 tankers, says shipbroker Steem1960 Norwegian broker says tanker owners are opting for the flexibility of the product carrier on their return to the shipyards
Editor's selection: CII gets another kicking, Stopford's gathering storm and 'Aren't you the LinkedIn guy?' In case you missed out on our news coverage this week, here's a helpful recap of some of the biggest stories from TradeWinds
Genting Oil & Gas signs up with Wison for FLNG unit in Indonesia Region becomes latest focus for floating LNG as Bumi Armada and Pertamina also home in on project
Eastern Pacific partners Hyundai Global on AI fleet optimisation Idan Ofer company will use OceanWise software to monitor carbon emissions
Product tanker rates creep up as Northern Hemisphere winter approaches Fearnleys Securities says strengthening rates are here to stay
BW Offshore continues whittling down fleet with latest FPSO sale Oslo-listed owner still marketing one more FPSO and will send another to the breakers
MOL commits to five more car carrier newbuildings Latest contracts will take the Japanese company's car carrier fleet to more than 100 ships
Wind power numbers growing despite regulatory issues Vessels ranging from general cargo ships to VLCCs are sporting wind technology
Saudi owner Bahri's venture with SABIC said to be selling elderly MR tankers Bahri Chemicals linked to sales of 2005-built product pair
Greek operators 'lifting Russian oil despite price cap breach' More than a quarter of Russian crude exports in August were loaded onto vessels operated by Greece-domiciled firms, says report
Insurance underwriters gather as marine market hangs in the balance International Union of Marine Insurance is meeting in Edinburgh for its annual conference as rates are in limbo
Iranian forces detain tanker and anchor handler in oil smuggling probe Seizures took place on same day that general cargo ship reported attack in the Gulf
New Fortress' second jack-up rig-to-FLNG unit conversion moves off to Mexico As company's embryonic green hydrogen arm ZeroParks strikes deal to supply OCI Global
Fifth trapped vessel leaves Ukraine in treacherous Black Sea waters Ukraine will try to build on its success of getting out a handysize carrying foodstuffs and metal products
'Hey! Are you that LNG LinkedIn guy?' Meet the man passionate about LNG Who is Mehdy Touil and how did he rack 50,000 followers on the social media business platform? Read and learn from the master
Iranian forces detain anchor handler in oil smuggling probe Seizure took place on same day that general cargo ship reported attack in the Gulf
Italian shipowner Morfini vows to fight planned Malta auction of its arrested MR tanker Would-be buyers of product tanker will face compensation claims, company warns
France's first FSRU inbound as Le Havre set to take in LNG after 24-year gap Another floating regas terminal for Europe moves into place ahead of the winter season
Seatrade eyes alliances and more vessel buys after confirming container ship orders Dutch group expands series of sub-panamaxes contracted in China
Insurer Skuld doubles its profits as underwriting and investments improve Norwegian mutual wary of impact of inflation on future claims costs
Seafarer dies in 'tragic' accident at Italian port Two men from Caronte & Tourist ropax hit by truck at the port of Salerno
Frontline books $22m profits over sale of tanker trio Tanker giant has an empty orderbook as the global tanker fleet continues to age
Union Maritime profit up 5,900% after 'key decision' to sell 24 older ships UK tanker and bulker group reinvested vessel sales cash in newbuildings as tanker rates rose
In pictures: 'When the wind dies' at Peter Gast Schiffahrtsregatta 2023 it brings on 'racing drama' The 40th edition of traditional sailing race offered participants plenty of excitement
Frontline and Asyad linked to VLCC sales as values tick up again Vessels built 10 or more years ago still proving lucrative for owners
Norden's warning to shipping: Don't ignore what can be done to decarbonise today CEO Jan Rindbo claims that by operating vessels smartly it can achieve the same carbon savings as 23 zero-emission ships
Survey: We need your help for the TW+ Green Power edition Contribute to the next edition of the TW+ magazine
Podcast: A 'loud call' for taxing shipping's carbon and a new look at IMO targets The audio edition of Green Seas looks at new angles of maritime's decarbonisation debate that emerged at events in Nairobi and London
Saudi-backed driller ADES set to price $1.2bn IPO at the top of the range Proceeds to go towards paying down debt, fund growth strategy as well as for general corporate purposes
Hydrogen carrier set to resume Japan-Australia trading after going on tour But future business plan for pioneering vessel's deployment and modification is under discussion
Dynagas reaps higher profit thanks to leap in revenue New York-listed shipowner maintains positive outlook on LNG carrier sector
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