Allcargo Group's logistics parks & Grade-A warehousing contributing towards India's $5 trillion economy goal
MoPSW notifies setting up of Major Ports Adjudicatory Board
DGFT simplifies Composition Fee for Export Obligation extension under Advance Authorization Scheme; move to boost trade facilitation & ease of doing business
India Post to use RoPax ferry services on Gogha-Hazira route for speedy postal services between Saurashtra, South Gujarat & Mumbai
Advantages of linking Chabahar Port with INSTC highlighted
IPA & RIS ink agreement to develop Centre for Maritime Economy & Connectivity
Non-alliance share reducing
New records by Paradip Port
Cashew exporters see a challenging year ahead amid global slump
Businesses in India investing in creating higher inventory buffers, reveals latest edition of Trade in Transition study
Record global petroleum consumption seen
Freight rates seen dipping further
Revised pilotage fuel surcharge at Gangavaram
Indian economy seen at $26 trn by 2047-48: Report
CMA CGM PSS for cargo from Indian Subcontinent, Middle East & Red Sea to North Europe, the Mediterranean & North Africa
Defendants in M/V Joanna bulker pollution case fined $2 million The U.S. Attorney's Office for the Eastern District of Louisiana reports that Empire Bulkers Limited and Joanna Maritime Limited, two related companies based in Greece, were sentenced today for committing knowing and
NNS shipbuilders test high-tech new tool in a brewery Huntington Ingalls Industries reports that shipbuilders from the Noise and Vibration Test Engineering (NVTE) department at its Newport News Shipbuilding division recently paid a visit to Coastal Fermentory in downtown Newport News,
Neoline places order for its first wind-powered RO/RO Nantes, France, based Neoline is a significant step closer to realizing its ambition of becoming the first modern day shipowner to fully embrace energy efficiency by relying on wind power as its
MARAD: $20 million available for Small Shipyard Grants The U.S. Department of Transportation's Maritime Administration (MARAD) has announced the availability of nearly $20 million in federal FY 2023 funding to help modernize small U.S. shipyards and provide workforce training MARAD's
Port of Algeciras nears 4.8 million TEUs in 2022 Container throughput nearly reached 4.8 million TEUs at the port of Algeciras, which represents a slight 0.7% decrease compared with the previous year's volume. The Spanish port reported a 7% growth in import-export boxes, while straits traffic increased by 10% in freight exchanges with Morocco, with 432,205 HGVs being handled on the Algeciras-Tanger Med line. As port authority chairman, Gerardo
MABUX reports upward trend in bunker indices Over the third week of the year, Marine Bunker Exchange (MABUX) global bunker indices turned to upward evolution with the 380 HSFO index rising last week to US$477.62/MT, the VLSFO index increasing to US$697,20/MT and the MGO index growing to US$1,038,33/MT. Meanwhile, the Global Scrubber Spread (SS) weekly average, the price differential between 380 HSFO and VLSFO, increased over the last week b
Port of Rotterdam to use integrated planning for inland container shipping Port of Rotterdam has officially begun using integrated planning to manage inland container cargo. Following a rigorous test period, inland shipping firms, terminals, and the Port of Rotterdam Authority approved Nextlogic. Using Nextlogic will allow for faster processing of inland boats in ports and terminals, allowing them to make better use of their quays, according to an announcement. "Nextlog
AD Ports inks agreements with KazMunayGas and Kazakhstan government AD Ports Group signed a strategic partnership agreement with Kazakh National Oil Company (KazMunayGas) and a Memorandum of Understanding (MoU) with Kazakhstan's Ministry of Industry & Infrastructural Development on 18 January 2023 in Abu Dhabi. The agreements expand on a shareholder agreement made in December with KMTF (Kazmortransflot), a subsidiary of KazMunayGas, to establish an exclusive join
ONE announces three new Southeast Asia - Australia services Ocean Network Express (ONE) has decided to launch three new Southeast Asia-Australia routes, which will replace existing services. The Singaporean container line said it will continue to deploy vessels on the services, which are scheduled to begin in early March, subject to regulatory permissions. The new AU1 service is expected to depart Port Kelang for the first time on 9 March and will have th
Non-alliance share begins to fall as freight rates normalise As the market recovered from the first Covid shock, a confluence of small carriers began to deploy capacity, particularly on the Transpacific trade, and big carriers began to launch services outside of the alliance networks. The plan was to capitalise on the opportunity presented by the extremely high freight rate environment, according to Sea-Intelligence analysis. Source: Sea-Intelligence.com,
CMA CGM announces new peak season surcharges worldwide Marseille-headquartered container line CMA CGM has announced a new peak season surcharge (PSS) from Indian Subcontinent, Middle East Gulf & Red Sea to North Europe, Scandinavia & Poland, Black Sea, Morocco; East & West Mediterranean, Adriatic and North Africa. The new surcharge will be effective from 15 February (date of loading) until further notice and will be US$500 per dry container. Addition
Valencia port, first hydrogen port in Europe The first consignment of hydrogen (H2) has arrived in the Valencian precinct to serve the refuelling station on the Xità quay. This historic milestone makes the Spanish port the first in Europe to have a hydrogen plant in full operation. It is the sole facility that can satisfy the terminals' demands via the mobile hydrogen plant and the stationary tank that stores this fuel. A watershed moment f
Greece's Neptune Lines expands with new logistics arm Greek vehicle carrier owner and operator Neptune Lines is branching out into land-based logistics with a new business unit. The newly established Neptune Land Services (NLS) will deliver storage, processing, and inland distribution for finished vehicles. The business will be headed up by Dror Noach as general manager, who most recently served as vice president ...
P&O Maritime vessel exits offshore sector for UK subsea protection role The UK government has acquired P&O Maritime Logistics' subsea construction vessel which will become the first of Britain's two ships dedicated to safeguarding underwater infrastructure such as cables and pipelines. The 2019-built ship, which DP World's unit offloaded for a price tag of £65m ($80.3m), has already arrived at Cammell Laird shipyard on Merseyside for ...
Eolus brings in PND for 1 GW Latvian offshore wind play Renewable energy developers Eolus of Sweden and Germany's PND have created a joint venture to develop an offshore wind project in Latvia. The wind farm is expected to have an installed capacity of around 1 GW with a planned commercial launch before 2030. The project area, subject to an upcoming tender process, is located in ...
MISC forges carbon capture ties Malaysia's top shipping line, MISC, is making its foray into the carbon capture and storage (CSS) value chain by joining forces with Mitsui & Co, Samsung Heavy Industries (SHI) and Andritz to work on solutions for the shipping industry. Under a memorandum of understanding with the Japanese trading house Mitsui & Co the Kuala Lumpur-based ...
CMA CGM-backed French sailing cargo ship pushes ahead CMA CGM-backed Neoline Armateur has launched the long-awaited construction of its first sail-powered cargo vessel at the Turkish shipyard RMK Marine. The 136-m-long vessel, with its concept name Neoliner, will be mainly propelled by its 3000 sq m sail area, sporting two 76-m-high Solid Sail folding carbon masts and retractable anti-drift plans developed by Chantiers ...
Ocean Installer brand makes comeback Marine construction contractor Havfram Subsea is reclaiming the Ocean Installer brand. Havfram's subsea business was known as Ocean Installer from the company's inception in 2011, with the 2020 name change reflecting its diversification into the offshore wind industry. The relaunch follows last year's announcement of the sale of Havfram's wind business lines to US private ...
OSM Maritime and Thome to merge OSM Maritime Group and Thome Group have agreed to a merger which will create a shipmanagement powerhouse called OSM Thome. The two parties, both of Norwegian heritage, have been negotiating the merger for many months, the latest in a stream of consolidation moves seen within the shipmanagement sector. The deal will catapult the merged entity ...
Denmark rolls out digital ship register In a move to get rid of troublesome paperwork and increase security related to ship registration and ship trading, Denmark has launched what is said to be the world's first digital ship register. There are currently more than 6000 ships registered in the Danish shipping registers which have until now been handled manually. The Danish ...
India to introduce ship age limits Major shipping news coming out of India today will have significant ramifications for vessel valuations. The Mumbai-headquartered Economic Times is reporting the government will shortly unveil age restrictions for ships calling at the world's second most populous nation. Under the new rules no bulk carrier, tanker or general cargo ship aged 25 or older will ...
North Sea Petrofac workers continue strikes on BP assets Petrofac workers on BP North Sea installations downed tools again after negotiations over working conditions stalled. The 48-hour strike action which started on Wednesday at 06.00 hrs involves around 80 workers and is set to conclude at 05.59 hrs on Friday, January 20. Unite, the UK's largest offshore trade union, confirmed that BP assets hit ...
Chinese New Year celebrated by product tanker owners In scenes not experienced for three years, Chinese airports are rammed as Lunar New Year celebrations near with the sudden increased mobility registered in the world's most populous nation after the axing of zero covid polices expected to offer great support to product tankers this year. Pre-covid, Chinese New Year always marked the world's largest ...
Fincantieri lands SOV order from Crowley and Esvagt joint venture Italian shipbuilding group Fincantieri has secured an order from CREST Wind, a joint venture between US-based Crowley and Denmark's Esvagt, to design and build an offshore wind service operation vessel (SOV). The 88-meter ship will be built at Fincantieri Bay Shipbuilding, under a contract with an undisclosed value signed by US subsidiary Fincantieri Marine Group. ...
MSC loses case with American furniture maker A judge in the US has ruled that Mediterranean Shipping Co (MSC) must pay a local furniture maker $944,655 in a long-running case over an alleged failure to meet contractual obligations during container shipping's boom years. The judge issued a default decision against MSC after it failed to supply the correct documents in time to ...
India aims to get local shipping hooked on green hydrogen India's newly launched National Green Hydrogen Mission (NGHM) has identified shipping as a sector for pilot projects with New Delhi setting aside an initial $2.5m for a variety of pioneering efforts that will also look at the steel sector. "Pilot projects will help identify operational issues and gaps in terms of current technology readiness, regulations, ...
Clearbot wins the Captain's Table Clearbot, a Hong Kong-based developer of autonomous boats, won yesterday's Captain's Table finals. Clearbot's innovative vessels can be used for data collection, site monitoring, marine pollution cleaning, and goods delivery. The company has laid out plans to position itself in the market with the largest fleet of electric boats in the world within the next ...
US transfers offshore wind safety and environmental responsibilities from BOEM to BSEE The US Department of the Interior has transferred regulations governing offshore renewable energy activities - including workplace safety and environmental compliance - from the Bureau of Ocean Energy Management (BOEM) to the Bureau of Safety and Environmental Enforcement (BSEE). "Over the past several months, BOEM and BSEE have taken steps to ensure a seamless transition ...
Panama rejects allegations that it is knowingly helping Iran violate sanctions Panama says it is committed to complying with the sanctions regime and has cancelled several hundred ships due to measures...
Tanger Med reports record year Morocco's Tanger Med port now handles over half of all the country's trade volumes. Strong container and ro-ro figures were...
Europe's LNG imports to remain high this year, Poten says The US is again expected to be one of Europe's main suppliers, as the Freeport terminal restarts operations following an...
Industry pushes EU to introduce 'ambitious' FuelEU Maritime FuelEU Maritime sets a 2% target for renewable marine fuels starting from 2025
Economou adds trio of tankers to China orderbook Scrubber-equipped product tankers are due for delivery in 2025
Capital Gas agrees more LNG carrier orders and secondhand deal Purchase of 21-year-old vessel follows swoop three months ago for ex-BP steam liquefied natural gas carrier
Mikkel Storm Weum appointed to head up ST Energy Transition Oslo-based Mr Weum worked for Teekay until 2018, before joining the private investment arm of the Fredriksen shipping empire
Maersk to switch ships from NorthStandard to Skuld Last few days 'mad' according to one broker, with big slice of market yet to receive offers traditionally sent out...
Neptune Lines unveils new shoreside logistics move Neptune Land Services will store, process and distribute finished vehicles inland
BHP bullish on demand outlook for China Miner expects China to produce 1bn tonnes of steel for the fifth straight year as it reopens its economy
Matson feels the pain of transpacific slowdown Outlook for first half of 2023 remains challenging as market normalises. But chief executive Matt Cox sees improvements from second...
Containership sales activity rises as asset prices fall Containership asset values may have halved since their 2022 peaks but remain far above pre-pandemic levels, while current sales volumes...
China reinstates onboard PSC inspections Along with increased inspectors onboard, more ships are expected to be detained for severe deficiencies
SEA-LNG hails 'very strong year' for near-record vessel orders LNG advocacy group expects dual-fuel vessel numbers to exceed DNV forecasts by the end of the decade
MSC to appeal after FMC issues default judgment contract fulfilment case Dispute over agreed volumes has led to a default finding. Case makes no decision on merits of original claim
Longship orders four ultra-low emission ships from Atlas Shipyard Turkish yard to deliver the 8,600 dwt vessels from the second quarter of 2024
Nanjing Tanker sees nearly 400% rise in full-year profit on trade dislocations Company says it has benefited from impact of the conflict in Ukraine on shipping markets
OSM and Thome agree merger covering 1,000 ships Shipmanagement combination comes after a spate of mergers and acquisitions involving nearly all the major players
Daily Briefing Tanker damaged in fatal explosions is linked to vessel identity laundering fraud | Shipping demands greater accountability from bunkering sector...
Fincantieri to build Crowley-Esvagt service operations vessel Crowley and Esvagt to build and operate a service operations vessel to support Siemens Gamesa operations at a large offshore...
Matson expects weak demand, freight rates to continue through H1 The softening outlook from niche carrier Matson foreshadows that the decline in US imports from Asia and the softening freight rates that began last fall are likely to continue through the first half of 2023.
Half of trans-Pacific vessel capacity faces Lunar New Year cut: analyst While a 50 percent capacity cut is about typical in the eastbound trans-Pacific during the post-Lunar New Year lull, more blank sailings could be in the offing given the accelerating decline in US import demand.
Excess US truckload capacity to bring contract rates back down to earth Lower rates and abundant capacity should promote stability in the truckload market in 2023, but any semblance of normality is conditional, at best, until the broader US economy is on a more stable footing.
Terminal49 lands investment to pursue visibility automation Demand for ocean visibility surged through the pandemic, including among software providers needing real-time container milestone data, an area that software vendor Terminal49 has targeted in recent years.
US truckload spot market nearing its floor: analysts US dry-van spot rates appear to be stabilizing, but contract rates are dropping by double-digit percentages as new pricing and service agreements take effect.
Baltic Dry Index falls to 2.5-year nadir as China nears New Year and Brazil gets soaked with rain Capesize bulkers see biggest rate drop on Thursday as other bulker sizes sustain minor rate losses
World Economic Forum: Should decarbonisation be collaborative or should shipping lead the way? Panama's investment minister argues without clarity, funding can be difficult to come by for developing economies
Panama defends actions over Iran 'dark' fleet penalties World's largest registry is accused of failing to act when given evidence of breaches of US sanctions
Navios Partners seals $44m debt refinancing with New York bank New York-based division of First Citizens Bank hails partnership with Greek diversified shipowner
Eagle Bulk expands board with appointment of veteran director New appointee has experience in companies with ties to famed shipowner John Fredriksen
Golar nets $140m by unwinding hedges on FLNG production as gas prices fall Swap agreements linked to TTF gas price linked volumes from multi-tariff Cameroon floater
Swedish Club to boost services with management reshuffle Newly appointed managing director Thomas Nordberg says the club is preparing for future challenges and opportunities
Streetwise: Why investing is getting 'sticky' at the bottom of a dry bulk trough This week's finance newsletter takes a look at the evolution that has helped US-listed bulker owners mature as a sector
Norwegian Cruise Line Holdings offers $500m in notes New York-listed cruise company plans to use proceeds to to repay debt coming due in 2024
NorthStandard makes key executive appointments ahead of merger North and Standard P&I clubs are set to merge after 20 February to create new mutual
KCC increases tanker exposure as caustic soda rates soar Combination carrier owner tying up more capacity in wet rather than dry trades
Crude deluge: VLCCs lifted 41 more cargoes per month in resurgent 2022 Tankers International foresees a similarly robust market for big tankers this year
US 'cakeism', the Kremlin and the lure of rich rewards The West wants it all with oil policy but leaves shipping with a commercial conundrum
New Russia trades point to strong product tanker demand after EU ban Vortexa says Russian exports to Brazil point to longer-haul voyages after 5 February
India to ban 25-year-old tankers and bulkers, impose S&P age limit Measure set to raise charter costs and poses question over ship values
Seven Islands linked to product tanker snapped up at Singapore auction This would be the Indian company's second swoop on an auctioned tanker in six months
VLGC prospects bright as Panama Canal congestion set to increase, Fearnleys says Analyst Mia Groeng believes bottleneck will worsen as LPG shipping activity picks up
Longship orders four diesel-electric cargo ships in Turkey Owner says vessels will reduce fuel use by about 45%
Shipowners Nordic Hamburg and Purus select scrubber and carbon capture system for newbuilding quartet Value Maritime will fit its Filtree kit on vessels to be operated by BG Freight Line
Hoegh LNG inks second 10-year deal on an FSRU with German government Regasification vessel will serve as the unit for the Elbehafen LNG import project
SCI facing retrofits as India mandates use of green hydrogen State shipowner among those companies affected by new targets for zero-emission shipping
John Fredriksen's interests hone in on LR2 tankers and suezmax crude carriers Nascent Hengli Heavy Industries is one of two shipyards where the shipowner is said to be sizing up new tanker orders
Longship orders quartet of diesel-electric cargo ships in Turkey Dutch owner says vessels will reduce fuel use by about 45%
GTT to roll out a digital solution to cut the frequency of tank inspections The company has won approval in principle from Lloyd's Register with the project set to go live shortly
Broker Galbraiths reveals underlying rise in profit as wage bill chopped 2021 figures show positive development for London shop that has since combined with Ifchor
Port of Long Beach misses record as cargo flow returns to 'normal' The 9,133,657 twenty-foot equivalent units the Port of Long Beach handled in 2022 were only 2.7% off the record-setting 2021.
SC Ports handled record cargo volumes last year South Carolina Ports moved nearly 2.8 million TEUs in 2022, the most in the state's history.
Port of Halifax enjoyed banner year in 2022 Annual volumes at the Nova Scotia port exceeded 600,000 twenty-foot equivalent units for the first time in its history.
RoadOne taps into Houston freight corridor with acquisition RoadOne IntermodaLogistics has acquired The Transporter Inc., an intermodal service provider with facilities in Houston, Dallas and Laredo, Texas.
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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