Fjord1 gets green light for autonomous ferry route The Norwegian Public Roads Administration (NPRA) today officially notified ferry operator Fjord1 that it has been selected to develop and operate a next-generation autonomous ferry for the Lavik-Oppedal crossing in Norway. Fjord1
Kongsberg Maritime retrofit delivers 23% cut in CO2 emissions for Hurtigruten One year after completing the retrofit of the first of three Hurtigruten Coastal Express ships to hybrid technology, Kongsberg Maritime reports that service results show that the ship, the 121-meter MS Richard
Marlink renews agreement with Intelsat Marlink, the smart network and digital solutions company, has renewed its agreement with Intelsat for the supply of next-generation Ku-band capacity. Marlink will deliver the capacity to users within its hybrid digital network, available globally to customers across maritime, energy and enterprise sectors. The agreement includes the future use of satellites with a software-defined operating syste
SAFEEN Group and SOCAR ink strategic agreement SAFEEN Group, a subsidiary of AD Ports Group, has signed a Memorandum of Understanding (MoU) with State Oil Company of Azerbaijan Republic (SOCAR) to collaborate on a number of maritime and shipping projects in Azerbaijan. Azerbaijan, geographically located at the crossroads of Georgia, Kazakhstan, and Turkiye, might serve as a critical expansion location for SAFEEN Group, linking Central Asia to
Tyrholm & Farstad orders Konecranes generation 6 mobile harbor crane Norwegian logistics provider Tyrholm & Farstad AS has ordered a Generation 6 Konecranes Gottwald Mobile Harbor Crane for its new Flatholmen terminal in Alesund, Norway. The order was booked in the third quarter of 2023, and the delivery is expected to take place in the second quarter of 2024. Tyrholm & Farstad made the order in order to extend its business and meet local industry demands for logi
XPO Logistics partners with Ryze Hydrogen in UK and Ireland Ryze Hydrogen, a net zero pioneer, has chosen XPO Logistics as its exclusive transport company for clean hydrogen throughout the United Kingdom and Ireland. XPO, a leading innovative supply chain company in Europe, was chosen as Ryze Hydrogen's partner for the next three years based on its experience and technological skills. As the sole hydrogen transport provider in the United Kingdom and Irela
APM Terminals invests in Brazil's container terminal APM Terminals Suape received approval from Brazil's National Waterway Transport Agency to change its cargo profile, enabling the terminal to operate containerized cargo and expand the area to be used by the terminal. APM Terminals Suape will operate the new container terminal at the Governador Eraldo Gueiros Port Industrial Complex (Suape) in Pernambuco, Brazil. Operations are expected to commenc
Hot newbuilding market could cool amid price increases Rising prices for new container ships could see a cooling of demand in the future, but right now the increases are being driven by a dearth of available slots, increased raw materials costs and demand for eco-friendly tonnage, said analysts. Almost all of the major shipbuilders, across all three shipbuilding regions, Japan, China and South Korea, have seen a surge in the share price as orderbooks
Gebrüder Weiss expands import services between Mexico and US Gebrüder Weiss has added a location in Laredo, a city on the Mexican border, in southern Texas, one and a half years after opening a branch in El Paso, Texas. According to the company, every day, nearly US$800 million worth of goods are transported across the border. "One reason the flows of goods from the Mexico border to the United States has increased is because of a growing logistics trend ca
Listed box lines see reduced market capitalisation as stock prices fall The 11 largest publicly listed container shipping companies have lost US$135 billion of their stock valuations over the last 1.5 years as investors dumped stocks as freight rates slumped. Alphaliner said today that just three container lines have a market capitalisation exceeding US$10 billion today, down from seven in May 2022. Among the carriers whose capitalisation transcended US$10 billion fo
Port of Los Angeles appoints new community relations director Cecilia Moreno, a veteran worker of the City of Los Angeles Harbor Department, has been promoted to the Port of Los Angeles' new community relations director. Moreno will replace Theresa Adams Lopez, who left the Port earlier this year. Moreno will be in charge of the Californian port's community relations team, special events, the administration of the department's Community Investment Grants pr
ONE launches new service from Southeast Asia to India and Gulf Ocean Network Express (ONE) unveils a new addition to its service network connecting Southeast Asia with India and the Middle East. "The new SIG service will provide our customers with more frequency and comprehensive connections to and from India West Coast and Middle East," said the company in a statement. The SIG service rotation is Singapore - Nhava Sheva (India) - Mundra (India) - Dammam (Sa
Capesize order book slips to 5% of fleet as contracting falls "At the start of October, the capesize order book was at 20 million DWT, a mere 5% of the capesize fleet. The contracting of newbuild capesize ships has gradually decreased since its peak in 2013 and only 5 million DWT were contracted so far in 2023, down 4% y/y. Low freight rates paired with a young fleet are keeping the order book small," stated Filipe Gouveia, Shipping Analyst at BIMCO. Contra
Hapag-Lloyd merges Venezuela services Hapag-Lloyd announced that Venezuela Coast Feeder 2 (VC2) and Venezuela Coast Feeder (VCF) services will be merged into one service (New VCF) covering both La Guara and Puerto Cabello with one vessel. The port rotation of the New VCF service will be Cartagena (Colombia) - Manzanillo (Panama) - La Guaira (Venezuela) - Puerto Cabello (Venezuela) - Cartagena The new VCF service will keep a bi-weekly
"If Israel does move by ground into Gaza, I would expect the unexpected," says CEO of Dryad Global Container shipping companies are currently continuing to maintain normal operations in the major box ports of Haifa and Ashdod in Israel, while the war between Hamas and Israel is continuing in a dramatic way with no one being able to predict what's coming next. "It is difficult to speculate as to the next episodes of the conflict," confirms Corey Ranslem, CEO of Dryad Global, a UK-based maritime
ICTSI upgrades Indonesian East Java Multipurpose Terminal East Java Multipurpose Terminal (EJMT), International Container Terminal Services, Inc.'s (ICTSI's) business unit in East Java, Indonesia, hosted a groundbreaking ceremony on 12 October to showcase the development of a new state-of-the-art gateway for the Lamongan, Tuban and central Java hinterlands. The development consists of a 300-meter quay line, breakwater, super heavy lift breakbulk deck, a
Blank sailings boost NCFI The composite Ningbo Containerized Freight Index (NCFI) quoted 622.2 points in Week 41, which improved 4.8% from the previous week and has remained on an upward trend for two back-to-back weeks. More specifically, spot rates for container exports from Ningbo-Zhoushan surged as shipping lines made blank sailings to reduce capacity during the National Day Golden Week. On the 21 trade routes to whic
Ultranav backs Belgian autonomous navigation tech startup MAHI Chilean owner Ultranav is investing in a Belgian maritime autonomy tech startup looking to unlock the potential of unmanned vessels. The Mechelen tech company has secured seed funding led by US venture firm Pirque and Ultranav along with a group of business angel investors. MAHI has developed a hardware-enabled software solution that tackles situational awareness ...
Eneti inks wind turbine installation deal for Seajacks vessel Emanuele Lauro-led offshore wind vessels player Eneti has announced that its subsidiary Seajacks signed a contract for one of its vessels with an undisclosed client. Eneti said that the NG14000X-class vessel would assist with the installation of wind turbines. With mobilization commencing in 2024, the contract is expected to be between 442 and 655 days, ...
New report warns the clock is ticking for shipping's zero-emission fuels target A new report has revealed that while it is possible for scalable zero-emission fuels to make up 5% of international shipping fuels by 2030 - shipping's breakthrough target - the window of opportunity will close soon, and rapid action is required from the industry. The report named "Climate Action in Shipping, Progress towards Shipping's 2030 ...
AD Ports' Safeen joines forces with Azerbaijan's Socar Safeen Group, a shipping unit of Abu Dhabi-based ports and logistics giant AD Ports, has teamed up with Azeri national oil company Socar to deliver a range of services aimed at elevating the shipping and energy landscape in Azerbaijan. A memorandum of understanding between the parties covers shipping of crude and petroleum products, infrastructure development, ...
HD Hyundai teams with Siemens to develop smart shipyards South Korea's largest shipbuilder HD Hyundai has signed a deal with German engineering giant Siemens to turn its shipyards into smart ones. The agreement will see the pair jointly develop a platform to innovate its shipbuilding process from design to manufacturing, HD Hyundai said. The digitalised automated production system is expected to help cut costs ...
MMA Offshore lands Australian defence contract MMA Offshore has been awarded a contract by the Australian Department of Defence. The contract worth around A$30m ($19m) will see the Perth-based OSV operator provide familiarisation services to the Royal Australian Navy on robotic, remote and autonomous maritime systems for geospatial data gathering, seabed feature identification and maritime hydrographic survey. The project will encompass ...
Parakou fleet sale accelerates Hong Kong-based Parakou Group's fleet sale is gathering pace, taking advantage of the accelerating prices in dry cargo. S&P brokers note that the shy owner has let go of its eight-year-old ultramax, CP Shanghai, for $23.5m, some $500,000 more than pricing portal VesselsValue indicates the 63,500 dwt bulker is worth. Brokers also note that affiliate, Pretty Sea ...
Middle East gas contracts sealed to Japan and the Netherlands The United Arab Emirates and Qatar have signed new agreements to supply liquefied natural gas (LNG) to Japan and the Netherlands, respectively. State oil giant Abu Dhabi National Oil Company's gas unit, ADNOC Gas, has struck a multi-year deal worth between $500m and $700m with utility-backed JERA Global Markets, a joint venture between majority shareholder ...
Jersey proposes 1GW wind farm off southwest coast Jersey's Council of Ministers has proposed a 1GW wind farm, set to be built in the southwest of the island's territorial waters, which could comfortably produce enough electricity to meet its needs, with the remainder to be exported. Ministers will hold a public consultation and have lodged a proposition asking state members to give their ...
Large-cap liners fade from view In line with this year's reversal in fortunes for container shipping, the number of large-cap listed carriers has shrunk from seven to just three. According to analysis from Alphaliner, investors have shaved a massive $135bn off the stock valuation of the 11 largest publicly traded liner companies. The number of listed carriers with a market ...
IKEA owner invests in Source Galileo offshore wind portfolio IKEA owner Ingka Investments has invested in an offshore wind project portfolio in Ireland and the UK with a 20% stake acquisition. The portfolio is managed by Source Galileo, a London and Dublin-based European renewable energy company, which is developing 10GW of offshore wind to electricity and hydrogen production off the northwestern coasts of Europe. ...
Lavinia in for six Chinese kamsarmax newbuilds Greek owner Lavinia has placed orders in China for a total of six 82,000 dwt kamsarmax bulk carriers according to multiple broking sources. This marks Lavinia's first newbuild orders for many years. Four will be built at Qingdao Yangfan and the other two at COSCO Heavy Industries Yangzhou. All six vessels will be delivered between ...
Japanese listening rod developed to detect ship equipment abnormalities In Japan, a piece of kit that looks like it was from a Star Wars set has been developed to detect ship equipment abnormalities. Shipowner giant Nippon Yusen Kaisha along with tech firms MTI and Nabtesco have unveiled an electric diagnostic tool that records, visualises, and analyses the operational sounds of a vessel's engine plant ...
India sets out to become a top-five shipbuilding nation within a decade Owners looking for extra shipyard capacity ought to turn their attention to the world's most populous nation. Currently outside the top-10 shipbuilding nations globally with a market share of less than 1%, India's prime minister Narendra Modi has laid out plans to make his country a top-five shipyard hub. Addressing the Global Maritime India ...
30% of ports worldwide unprepared for incoming IMO maritime single window legislation A new study suggests nearly a third of ports worldwide are unprepared to adopt the International Maritime Organization's (IMO) maritime single window (MSW) mandate which becomes compulsory on January 1 next year. As from the start of 2024 every port is now mandated to have a single window system for digital information exchange between stakeholders ...
BDI reaches nearly 15-month high as China's Q3 growth exceeds expectation China reported recovery in the third quarter with 4.9% growth, beating forecast
Marad completes TSP enrollment with recently sold Pyxis Tankers' MR US Maritime Administration completes enrollment for its new Tanker Security Program and entered two new ro-ros to the older Maritime...
Wall Street begins to relax on shipping diversification but size remains key Collapse of Euronav-Frontline merger a disappointment for market watchers wanting bigger listed shipping entities
Western crude tanker trades vulnerable to Israel-Hamas escalation Low oil inventories would make the West become more reliant on oil product imports, while Western refinery utilisation will fall...
Shipping remains off target in bid to resolve the zero-carbon conundrum Shipping remains only partially on track to reach its near term ambitions and industry executives remain deeply concerned about the...
IGC Code quirk holding back ammonia fuel, Exmar says Belgian shipowner Exmar says the IMO must fix a regulatory quirk that stops gas carriers from using ammonia as fuel...
Russia-China Arctic shipping surges as Putin courts investment Russia is sending more tankers to China via the northern sea route, with the third non-ice class suezmax this year...
Ports have opportunities to boost UK economy Port operators must communicate their needs with government. But finding funding for development could still be a challenge
Fast Lines opts for first-ever newbuildings with Damen MPV deal Lack of availability of good quality secondhand tonnage has driven Antwerp-based multi-purpose vessel operator to pen its first-ever newbuilding contract
Evergreen diverts Israel feeder ship after force majeure declaration Owners may have right to refuse orders to Ashkelon if charterparty includes safe port warranty, Gard says
Star Bulk clinches order for two kamsarmaxes in China Greece-based owner said to be considering dual-fuel capability for the new vessels but a final decision has not been taken
Daily Briefing Sovcomflot tankers go dark in Black Sea citing maritime security fears | Clash of Basel and Hong Kong conventions could leave...
Freight broker Convoy stops accepting loads amid pending company 'transition' The company has long been a lightning rod in the truckload industry, one of a cohort of so-called digital brokers to emerge in the 2010s backed by venture capital investors with an ambition to make the industry more efficient through digitizing processes.
J. B. Hunt believes intermodal market 'coming out' of freight recession Despite reporting lackluster third-quarter financial results, the intermodal service provider is cautiously optimistic that the worst of the US freight recession is in the past.
DSV CEO Andersen to step down in September 2024; COO Lund will take top job In 16 years running DSV, Andersen has presided over the integration of a string of multi-billion-dollar acquisitions and guided the forwarder through significant disruptions to global supply chains.
Weak demand signals threatening shipping's emissions targets The window is closing fast on shipping's goal of having scalable zero-emission fuels account for 5% of international shipping demand by 2030, a conference in Athens was told.
China's lagging economy may spare capesize bulkers if 'two grey rhinos' can be avoided Country posts 4.9% gross domestic product growth for third quarter, down from 6.3% in prior three months
US sanctions ship for carrying Iran's military cargoes Multipurpose ship tied to IRISL accused of moving missle boats to Venezuela
Carl-Antoine Saverys steps into spotlight with bold ammonia move CMB cousins taking similar tack with bulkers but Exmar LPG strikes first firm orders
MSC keeps recycling lead over closest top-five liner rivals The MSC Levina is the 13th vessel to leave Swiss liner giant's fleet on a final voyage to Alang's recycling beach
Capesize bulker market keeps rising as supply stays low in Atlantic basin, analyst says Port congestion and Vale's higher iron ore volumes also boost sector, according to Clarksons Securities
Eneti scores up to $167m on 2024 contract for installation vessel Terms imply daily hire rate of some $255,000 for WTIV Seajacks Scylla
'Few' uncommitted LNG newbuildings available to cover potential demand Howe Robinson reviews third-quarter market action while looking at upcoming market
Green Seas: Hydrogen fuelling technology moves forward amid focus on other alternatives Our newsletter on the environment and the business of the ocean checks in on the technology developments aiming to make hydrogen-fuelled a reality
Proman teams with Mitsubishi for giant clean ammonia plant in US Methanol producer and tanker owner branches out into another clean fuel
Naftomar product tanker buys signal 'serious firming' of S&P prices Zein family outfit spends more than $80m on pair of 11-year-old LR1s, as seller Alberta Shipmanagement doubles its money
As shipping's power brokers gather in Athens, Greek owners remain wary Annual Global Maritime Forum meeting takes place in Greece for the first time, with some noted local shipowners taking part amid talk of an informal boycott by others
Stephenson Harwood scoops eight shipping lawyers from Ince in Hong Kong and China Exodus from troubled law firm continues
Order green ships now. The fuel will come later, report argues Alternative fuel demand will generate its own supply, zero-emission proponents argue at Global Maritime Forum
Dwindling stock values result in cull of 'large-cap' liner operators Market capitalisation of lines halved as $135bn is erased over 18 months
Sanctioned tanker set to arrive in US to unload crude shipment Yasa Golden Bosphorus is on a three to five-month charter with oil major ExxonMobil
Iran 'sentences crew members' from tanker in smuggling case Iranian state media said the seafarers were found guilty of smuggling fuel
Ultranav pumps cash into autonomous navigation start-up Mahi Chilean shipowning group joins US investor Pirque in backing Belgium tech company
Iran 'sentences crew members' from seized Saint James tanker Iranian state media said the seafarers were found guilty of smuggling fuel
Israel port calls start to fall as Hamas war escalates Port closure, insurance rates and force majeure result in fewer ships calling at Israel ports
Wavelength: How 'dark' fleets and Gaza are turning the IMO into a war zone You can keep shipping out of politics but you can't keep politics out of shipping
Italy's Fincantieri eyes bumper crop of cruise ship orders European shipbuilder plots road map to first net-zero cruise ship by 2035
Forecast hikes coming as analysts expect big third-quarter numbers from VLGC owners Fearnley Securities says ships are booking well into the fourth quarter at rates averaging above $100,000 per day
Iran jails seized Saint James tanker crew members Iranian state media said the seafarers were found guilty of smuggling fuel
Charting the rise of state-backed attacks on shipping Maritime incident tracker details 73 occasions when shipping has been targeted since 2019
Iran jails crew members from seized Saint James tanker Iranian state media said the seafarers were found guilty of smuggling fuel
Jaldhi Overseas inks LPG ammonia carrier newbuildings at China's Yamic Singapore owner is building a substantial backlog at the Chinese- and Japanese-run yard
Mexican president says rail alternative to Panama Canal will open in December Lopez Obrador points to 'saturation' and water problems at 100-year-old waterway
Modern Japanese ultramax sails into fleet of Bangladesh bulker owner SR Shipping Kabir Steel subsidiary is buying modern bulkers to replace older vessels in its fleet
Eight former Swiber Holdings directors charged over false contract claims Ex-CEO also faces charges of insider trading that could lead to potential jail sentence and fine
TradeWinds Ship Recycling Forum: Will Bangladesh and Pakistan be ready for the Hong Kong Convention? India, Bangladesh and Pakistan tell TradeWinds forum that work is going on behind the scenes to meet the deadline
South Korean shipyards seek silver bullet to labour crunch Migrant workers are easing staff shortages, but could smart shipyards be the solution?
'Made in China' breathes new life into mothballed shipyards to drive capacity But analysts dispel fears of a return to a 'boom-and-bust' cycle in shipbuilding capacity
Qantas cargo customers seek fee waivers after shipping disruption Shippers aren't paying freight forwarders because their cargo was delayed. Now those forwarders want Qantas Airways to eliminate their handling charges because of a self-inflicted operational breakdown.
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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