Plans for Trollvind floating offshore wind farm put on hold Equinor said today that it will postpone any further development of the Trollvind floating offshore wind farm initiative indefinitely. "This decision is based on several challenges facing the project, including technology availability,
Eastern delivers new Weeks Marine dredge Panama City, Fla., based Eastern Shipbuilding Group, Inc. (ESG) has announced the delivery of the R.B. Weeks (ESG Hull 258) a 8,550 cubic yard capacity trailing suction hopper dredge (TSHD) constructed for
Island Offshore books major LWI contract Island Offshore, which is majority owned by the Chouest and Ulstein families, has secured two new years of LWI (light well intervention) work for Island Wellserver on the Norwegian continental shelf, with
Volvo Penta launches new IPS platform for larger vessels Volvo Penta has announced a new version of its Inboard Performance System (IPS) propulsion package. Called the professional platform, it is aimed at vessels of 25 to 55 meters plus in length,
First Flight III Arleigh Burke destroyer completes acceptance trials The future USS Jack H. Lucas (DDG 125) has successfully completed acceptance trials, returning to Huntington Ingalls Industries' Ingalls Shipbuilding division on May 18. DDG 125 is the first Arleigh Burke-class guided-missile
SC Ports provides access to the thriving southeast market South Carolina Ports expects higher-than-average container traffic at the Port of Charleston (USA) in February as the state continues to attract new firms. SC Ports has handled approximately 1.8 million TEUs and 978,374 pier containers (containers of any size) in the fiscal year 2023. Meanwhile, TEUs are down 5% from the same period last year. Also, SC Ports and the maritime community handled 201
DP World completes US$259.7 million Vancouver port expansion DP World and the Vancouver Fraser Port Authority have celebrated two historic events - the completion of the Centerm Expansion Project at DP World Vancouver, and the 100th anniversary of the port's marine terminal operations. More specifically, the completion of the Centerm Expansion Project, an US$259.7 million award-winning project to increase throughput by 60% and position British Columbia as
ZIM handles 769,000 TEUs of carried volume in the first quarter of 2023 ZIM Integrated Shipping Services, a worldwide container liner shipping firm, has released its consolidated results for the three months ending 31 March 2023. Carried volume in the first quarter was 769,000 TEUs, a 10% drop year on year, while the average freight cost per TEU was US$1,390, a 64% decline year on year. Revenues for the first quarter were US$1,374 million, a 63% decline year over yea
Two new shipping services calling at Moín Container Terminal in May Costa Rica welcomed two new shipping services at the Moín Container Terminal (TCM) in May. More specifically, the first call of the Venezuela Line (VEL) service operated by the ZIM shipping line called the TCM on 17 May and the South Atlantic Express (SAE) service, operated by shipping line, Sealand on 1 May. The SAE service will have the following rotation, Manzanillo (Panama) - Puerto Moin (Cos
ONE opens new office in Ireland Ocean Network Express (ONE) opens its first wholly owned Irish office, Ocean Network Express (Europe) Ltd, Ireland Branch on 1 June 2023. United Liner Agency Ltd (Dublin) - the present appointed agent for ONE will transfer all Sales, Operations, and Customer Service activities etc., to ONE Ireland Branch on 1 June 2023. Additionally, the majority of ULA employees will transfer to the new ONE Irel
Kpler: The journey to bring visibility into global trade he Google Meet screen crackles into life with François Cazor, co-founder and CEO of Kpler, attired suitably in a corporate gilet. Just behind him is a poster of the first moon landing, something that clearly inspires this tech entrepreneur who was born on the same day, albeit not the year, as the famous Apollo mission. ...
Number of containers lost at sea falls to record low A total of 661 containers were lost overboard in 2022, out of 250m transported, representing the lowest losses in percentage since the Washington-based liner lobby group, the World Shipping Council (WSC), started the survey in 2008. The number is less than one-thousandth of 1% (0.00026%) of the containers currently shipped each year, with cargo transported ...
Law firms Allen & Overy and Shearman & Sterling to merge UK law firm Allen & Overy and New York's Shearman & Sterling, have announced plans to merge in one of the largest transatlantic legal deals in history. The proposed merger into Allen Overy Shearman Sterling or A&O Shearman for short will create one of the world's largest legal practices with combined revenues of $3.4bn and ...
Toro banks nearly $43m from sale of two elderly tankers Hot on the heels of a lucrative deal for a veteran tanker Nasdaq-listed tanker and LPG owner Toro has offloaded two more elderly aframax LR2 ships at a profit of nearly $43m. The spinoff of Cyprus-based Castor Maritime has sold the 2005-built Wonder Polaris for $34.5m and the 2006-built Wonder Bellatrix for $37m to undisclosed ...
Japan's top shipbuilders set to build liquified CO2 carriers by 2027 Leading shipbuilders in Japan have joined forces to design a liquified CO2 carrier, with the goal of finishing construction by 2027. With a growing number of carbon capture and storage projects expected in Asia, Mitsubishi Shipbuilding and Nihon Shipyard are looking to establish a shipbuilding framework to meet the demand for vessels facilitating the large-scale ...
G7 vows to crack down on parties evading the Russian price cap system The leaders of the Group of Seven nations vowed over the weekend to crack down on parties evading the price cap system put in place on Russian oil, with the US following the UK in introducing further sanctions, many aimed at Russian-linked shipping entities. The G7 will enhance efforts to counter evasion of the caps ...
Marinakis takes Chinese kamsarmax Broking sources tell Splash that China's Far Eastern Horizon has fetched $20m for the 81,200 dwt, 10-year-old Xin Han, sold to Evangelos Marinakis's Capital Ship Management. This marks the second kamsarmax sold by Far Eastern Horizon to Capital in as many months, and the fifth same-sized bulker the low-profile firm has sold since June last ...
Further draft restrictions for drought-hit Panama Canal Draft restrictions are being put in place this week along the Panama Canal as drought once again plagues one of the world's most important maritime arteries. With rainfall dropping by 50% compared to recent averages from February to April, the Panama Canal Authority has been forced to institute two draft restriction measures, the first this ...
Transworld to take Shreyas private Dubai's Transworld Holdings has announced ts intention to voluntarily delist the equity shares of its Indian subsidiary, Shreyas Shipping & Logistics, a container feeder operator. Transworld cited the enhanced operational flexibility, and less costs as reasons to take the boxline private. Under Indian stock market rules, Transworld can take the line private once it accrues ...
Dark fleet tanker calls UK with India-loaded jet fuel cargo Long range tanker Elise, built in 2005, has records that show its second-last cargo was shipped from Novorossiysk, before taking...
Zim reports weaker than expected first quarter Asset-light Zim expects more weakness in the second quarter but a better market in the second half of 2023 and...
Spot VLCC rates trend higher on US volumes Following a sharp decline since March, VLCCs are once again trading higher as Asian refiners turn to the US amid...
The week in charts: New Russian trade route | MSC fleet to breach symbolic 5m teu mark | Global grain shifts may support dry bulk market Grain shipments have resumed from occupied Mariupol under a new operation run by Russian government body RosKapStroy; MSC's fleet will...
Aframax and suezmax tanker values still rising 'Underlying fundamentals still appear favourable in terms of longer tonne-miles and fleet supply,' says Gibson analyst
Container losses overboard fall to record low An absence of significant casualty incidents last year saw was a boon for carriers' safety records. But the latest three-year...
DNV and Lloyd's List Intelligence forum to focus on maritime safety With human error accounting for four in five maritime safety incidents, the industry must do better sharing experiences and lessons
Xiamen ITG unveils vessel purchase plan in capital-raising scheme The move will increase its presence in the Singapore bunkering business and improve competitiveness in the global shipping market, according...
Ship finance markets remain 'wide open', says German platform Fierce competition between lenders in the tanker space is working to the benefit of owners, while finance is also available...
Austal USA wins $3.2bn defence contract Initial US Navy contract for design of a new surveillance ship is worth about $114m, with options for the construction...
'Low maturity of solutions' the main barrier to decarbonisation, Lloyd's List survey finds Shipping companies want to see more mature solutions on the industry's pathway to net zero and to start investing in...
The week in newbuildings: Bulk carrier orders rising Bulk carriers provided the majority of recent newbuilding orders with orders signed for six kamsarmax units and six ultramaxes
Dual-fuel methanol orderbook keeps on growing Many shipowners are still unwilling to order alternative fuel-capable newbuildings due to fuel supply and cost concerns; meanwhile engine designers...
Carriers avoid a price war as box rates stabilise Freight markets have been volatile but are stabilising. Container lines appear to want to avoid a race to the bottom
OSM Thome merger comes to fruition The new company will have almost 1,000 ships under management in all important market segments
Decarbonisation to drive change From transporting clean energy to supporting skills in handling future fuels, the maritime industry will underpin the global energy transition
Eagle Bulk crew released after Gabon kidnap US-based company says the crew is undergoing medical checks and will be repatriated and reunited with family in coming days
Daily Briefing Dark fleet spotlight shines on Geneva-based Fractal Shipping | UK sanctions shipping companies as G7 readies tighter restrictions | Russian...
Late US produce season boosting spot reefer truckload rates Pricing for refrigerated (reefer) truckload service is shooting up along the US-Mexico border and outbound from California, in some cases by more than 20 cents per mile from April's averages, as fruit and vegetable crops start moving to market.
Wan Hai adds new India-US transshipment option via Colombo Taiwan-based Wan Hai is adding a call to Colombo, a busy transshipment hub for Indian exporters, on its AA7 loop between Asia with the US East Coast.
Zim reports first loss since early 2020 A deteriorating container shipping market made the first quarter one to forget for the Israel-based carrier, but its full-year outlook remains positive.
Container losses at sea reach lowest rate since 2008, WSC says There were more than 2,300 boxes per year lost on average from 2020 to 2022, according to a World Shipping Council report
Diana and Taizhou Jiahang lock panamaxes into period deals as rates fall back Cargill and SwissMarine each pick up a bulker for a year or more
Hafnia emerges as buyer of Rederi Gotland's last tankers BW Group owner reveals it was behind double swoop for MRs
Coveted aframaxes rule tanker S&P scene with major deals reported From modern, scrubber-fitted units to vintage vessels facing special survey - the aframax S&P arena fires on all cylinders
VLGC rates 'defying expectations' as they near $80,000 per day Brokers report active markets as propane price difference provides shipping opportunity
Genco Shipping taps in-house manager for promotion to CFO Incomer replaces departing finance chief Apostolos Zafolias
Zim bleeds red ink as transpacific losses hit home Extent of liner industry woes spelled out as boom turns to bust for New York-listed carrier
Head of freight trading exits major cape charterer RWE Supply & Trading Move by German power company's chartering chief is 'by mutual agreement'
'Dark' ship-to-ship transfers present daily risk in sanctioned tanker trades Amid focus on shadow fleet, dangers of ship-to-ship transfers during dark operations stir fears
Oceanis says 'incredible' deals on offer for tankers as banks remain 'enchanted' with shipping Competition among lenders is especially fierce for vessels with term employment
MSC backs project for ammonia dual-fuel container ship design Liner giant teams up with partners to plot 8,200-teu design
Herbjorn Hansson predicts good times on the way as Nordic American Tankers bottom line roars back Second-quarter seasonal lull is already over, Norwegian magnate says
Seafarers evacuated from tanker off India with critical burns Two member from the Xante were working in the engine room at the time of the incident
Safe Bulkers 'very undervalued' as cape rates tipped to jump 50% Cleaves Securities starts coverage of Greek bulker owner with 'buy' rating
VLCCs head to US Gulf with 'end of rally in sight' Shipbroker Gibson says the US to China route has driven short-term rise in VLCC rates
Capesize secondhand activity heats up amid robust ship values A wave of transactions this month shows buying interest in the big bulkers to be alive and kicking
Panama Canal: shippers to pay more for lighter loads due to drought New rates coming in next month as a result of draught restrictions
Golar LNG opts to scrap 46-year-old FLNG 'conversion candidate' Elderly LNG carrier set to become fourth to be sold for demolition in 2023
Legal giant formed as Allen & Overy and Shearman & Sterling agree $3.4bn merger London and New York firms will have 3,900 lawyers across the globe as they look to accelerate growth
Bigger is better for OSM Thome following merger approval New company will have roughly 1,000 ships under management after getting the go-ahead from competition regulators
Transworld to take Shreyas Shipping private as it seeks full control Dubai shipping group will delist the feeder ship player in India
No change in oil trade despite G7 price cap evasion vow IEA chief says that global oil supply likely to remain unchanged after leaders' summit vows to take further measures against Russia
China Merchants gets the nod to order LNG carrier and aframax tanker newbuildings CMES' favourite yard, Dalian Shipbuilding, is tipped to receive the newbuildings contract
Russian ship linked to arms shipments breaks down off Turkey Cargo ship suffers mechanical failure in Dardanelles Strait
Captain, hero, advocate: India's first female master leads fight for women's rights Captain Radhika Menon is preparing a new generation of seafarers for a rewarding if difficult life at sea
Time is running out for alternative fuels, warns bunkering boss Augusto Cosulich Cost and availability to determine the bunker provider's investment in methanol and ammonia
China Merchants gets the nod to order LNG carriers and aframax tanker newbuildings CMES's favourite shipyard Dalian Shipbuilding is tipped to receive the newbuildings contracts
Idan Ofer closes on John Fredriksen as UK's wealthiest shipowner Most UK shipping billionaires saw little change to the fortunes last year, with one exception
Shipping line Zim gets hammered by high spot-rate exposure Zim outperformed competitors on the way up and is falling faster than other carriers on the way down.
Fluent Cargo launches site for freight forwarding transparency "We want [global shipping] to be self-explanatory, easy to navigate and easy for you to find the answer you are looking for," says Maja Bernstein, vice president of industry relations at Fluent Cargo.
CMA CGM Air Cargo discontinues US service The airline subsidiary of ocean carrier CMA CGM has backed out of the U.S. market for the second time in six months.
FedEx Logistics rolls out instant visibility feature for airfreight clients The outsourced logistics arm of FedEx is opening up the way it shares data on electronic bookings for air cargo with a major customer.
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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