Operator got crane height wrong. Bridge took near $2 million hit In another report on an unhappy meeting between a crane on a barge and a bridge, the NTSB says that an incorrect estimate of a crane's boom height led to contact with
Alfa Laval offers new hull air lubrication solution Hull air lubrication has been around for quite some time. Now Alfa Laval thinks it has found a better way of easing a hull more smoothly through the water on a carpet
Container volumes fall at port of Melbourne Total container volumes at the port of Melbourne fell by 18.4% year-on-year in February, reaching a total of 219,606 TEUs. According to the Australian port's data, full overseas imports dropped by 28.9% in February, compared with the same month last year, with miscellaneous manufacturers, furniture, metal manufacturers, domestic appliances, textiles, and paperboard, all below last year's levels.
CMA CGM applies new port congestion surcharge in Mersin CMA CGM has announced a new Port Congestion Surcharge (PCS) from the port of Mersin to several destinations worldwide due to current delays in the Turkish port. The French carrier said that a surcharge of US$100/TEU will be implemented on dry containers that will be transported from Mersin to West & East Mediterranean, Adriatic, Black Sea, North Africa, Morocco, Portugal, West Coast & East Coast
European giant box ports collaborate with Routescanner Ports of Antwerp-Bruges and Amsterdam are now offering Routescanner's Direct Connections on their websites. In particular, with Routescanner, a shipper or freight forwarder can find and compare possible routes for its container shipments on a neutral platform. Direct Connections system shows all available connections to Antwerp, Zeebrugge and Amsterdam. The platform can also instantly calculate t
Bangladesh begins exporting fruits using reefer containers Bangladesh has started exporting fruits using reefer containers for the first time in the country's history. Earlier, only potatoes were exported by seaways packed into containers. Usually, vegetables and fruits like mango are exported by air. On 17 March, watermelon and tomato were exported to Malaysia in a short sea sailing for seven to 10 days. Abdul Kaium, owner of the exporter Sattar Interna
DP World adds inland container depot at India's Hazira Port DP World has opened a rail-linked container freight station (CFS) at India's Hazira Port, as the global marine terminal operator seeks to scale up its container integrator offerings out of the country. Hazira is an emerging alternative container gateway on India's west coast, with its terminal infrastructure managed by Adani Ports. DP World, in a statement, said the CFS is capable of handling up
HHLA reports annual container drop amid profit fall Despite the rise in its annual revenue, German port and terminal operator Hamburger Hafen und Logistik AG (HHLA) saw its earnings and profits decrease in 2023. The group's revenue increased by 7.7% to over US$1.7 billion, but HHLA's operating profit (Earnings Before Interest and Taxes, EBIT) fell 3.4% to US$240 million and profit after tax and minority interests declined to US$100 million, transl
Ports of Auckland boosts both profits and container volumes Ports of Auckland Group increased its profits by 40% in the first half of the Fiscal Year 2023 (July 2022 - December 2022) announcing a net profit after tax (NPAT) of approximately US$14 million. Based on the first half results, New Zealand's port group revised its full-year NPAT forecast increasing it by US$4.5-7 million to US$26-28 million, translating to an uplift of 20-28% on the FY23 budget.
Global trade slows, but 'Green Goods' grow: UNCTAD Global trade was worth a record US$32 trillion in 2022, but amid deteriorating economic conditions and rising uncertainties, growth turned negative in the last half of the year and is set to stagnate in the first half of 2023. The silver lining was the strong performance of trade in "green goods", whose growth held strong throughout the year, says UNCTAD's latest Global Trade Update , published o
European Union confirms world's first green shipping fuels law The European Union (EU) passed the world's first green transportation fuel law, according to which vessels will be required to use more sustainable fuels, with at least 2% of the bloc's shipping fuels will need to come from e-fuels derived from renewable electricity by 2034 at the latest. With negotiations at the International Maritime Organization (IMO) running, the European Federation for Trans
How to choose a shipping company Shipping is an important part of a business and can be a complex process, especially when choosing a shipping company. Mistakes in choosing a shipping company can result in delays, product damage, or increased costs. In this article, we will look at how to choose a freight forwarding company. Market research The first step in choosing a transport company is market research. You need to evaluate w
Port of Gdansk dismisses president of the management board Lukasz Greinke will be removed from the management board of the Port of Gdansk Authority after voting on 16 March. Since 2016, Lukasz Greinke has been the president of the management board of the Polish port. He graduated from Toru's Nicolaus Copernicus University's Faculty of Law and Administration. Prior to joining the Port of Gdansk Authority S.A., he served on the boards of directors of compa
Port of Oakland joins clean energy trade mission Last week, Port of Oakland officials travelled to Japan with a delegation of California policymakers, decision-makers, and business executives led by California Lieutenant governor Eleni Kounalakis and Dee Dee Myers, director of the Governor's Office of Business and Economic Development.
John Fredriksen and Marc Saverys secure Euronav seats as three of five directors survive boardroom battle John Fredriksen and Marc Saverys will be joining Euronav's supervisory board, while two existing directors failed to win votes of confidence from shareholders at a special general meeting held on Thursday. Shareholders of the Brussels and New York-listed Belgian tanker owner voted out Anne-Helene Monsellato and Steven Smith while backing Grace Reksten Skaugen, Anita Odedra ...
Eva Birgitte Bisgaard leaves Maersk Tankers Eva Birgitte Bisgaard has stepped down from her role as chief commercial officer at Maersk Tankers with immediate effect. Christian M. Ingerslev, will take over the company's sales and services in addition to his duties as chief executive officer. "Under Eva Birgitte's leadership, partners' satisfaction with our services increased significantly. In particular, in a disrupted ...
Pelagic Partners sets sights on handy bulkers after latest purchase Pelagic Partners is looking to expand its bulker portfolio following tanker additions last year and the most recent handy purchase. The Cyprus-based alternative investment fund said its Pelagic Yield Fund had purchased the 2011-built handysize bulk carrier . Multiple brokers reported the Hyundai Mipo-built 35,900 dwt vessel, which will trade in the United Bulk Carriers ...
EnBW moves ahead with 960 MW German offshore wind farm as it sells nearly half its stake German energy group Energie Baden-Württemberg (EnBW) has made a final investment decision for its €2.4bn ($2.61bn) He Dreiht offshore wind project and sold 49,9% to a consortium consisting of Allianz Capital Partners, AIP and Norges Bank Investment Management. "With the sale of a 49.9% minority stake we have succeeded in bringing highly professional and experienced ...
US coalition deploys drones to protect merchant shipping in the Middle East Up to 100 drones are being deployed to patrol along 8,000 km of busy shipping lanes around the Arabian Peninsula, a stretch of water that has had severe security issues in recent years. The US, via its Bahrian-based 5th Fleet, is leading the unmanned surface vessel project called Task Force 59 with partners UK, Canada, ...
Europe close to sealing 'world's most ambitious' shipping decarbonisation deal The European Parliament and Council have reached a deal on cleaner maritime fuels, asking to cut ship emissions by 2% as of 2025 and by 80% as of 2050. This would apply to ships above a gross tonnage of 5,000, and to all energy used onboard in or between European Union ports, as well as ...
Van Oord selects Port of Tyne as base for RWE's UK offshore wind giant The Port of Tyne in northeast England has been selected by Van Oord as the storage and marshalling base for the Sofia offshore wind farm from 2024. The Dutch marine construction firm will utilise the Port of Tyne's 200-acre Tyne Clean Energy Park, which has recently benefited from £20m ($24.6m) of infrastructure modernisation. The company ...
Greek owners increase market share of Russian oil exports Greek ships remain the dominant force shipping Russian crude, increasing their market share significantly since the December 5 ban on Russian oil exports started, according to new data from freight data firm Vortexa. Greek and other foreign owners are allowed to transport crude and products out of Russia under an agreed price cap. When the ...
ZeroNorth: The next great data revolution in shipping Søren Christian Meyer, founder and CEO of well-known vessel optimisation brand ZeroNorth, believes that though shipping will be able to reap the benefits of high-quality data in the coming years, the sector's embrace of the improvements it offers is still in its infancy. Before setting up ZeroNorth in 2020 as an independent spin-off of Maersk ...
Yangtze Fortune abandonment saga comes to an end The saga of the abandoned , a 2005-built livestock carrier, has come to a close with the ship auctioned, and the last 16 crew repatriated. More than 30 Filipino seafarers onboard the Liberian flagged converted boxship, owned by a Chinese company based in Dalian, were owed many months in back wages when it was arrested ...
BW Ideol lines up project development funds BW Group's floating wind company, BW Ideol, has entered into exclusive negotiations with French state-owned financier ADEME Investissement for €40m ($43m) funding to support project development activities. Under the agreement terms, BW Ideol will transfer its co-development project portfolio to a newly created subsidiary, DevCo, subject to approval of project partners and tendering authorities. I
JERA snaps up Belgian offshore wind developer Parkwind Japan's largest utility JERA has agreed to buy Belgian offshore wind developer Parkwind from Virya Energy for €1.55bn ($1.7bn). Parkwind is the largest offshore wind platform in Belgium with four offshore wind projects in the country totalling 771 MW and is constructing the 257 MW Arcardis Ost project in Germany. The company also has a ...
American ammonia startup seals financing to power shipping ambitions Amogy, an American startup focused on developing ammonia-powered ships, has raised $139m in funding in a round led by South Korean conglomerate SK Innovations. Other investors include Singapore's state holding company Temasek, the corporate-venture arm of oil giant Saudi Aramco, plus the investment firms AP Ventures and DCVC. "Amogy's technology represents a key breakthrough in ...
Six companies team up to operate Japan's first methanol-fuelled coastal tanker Mitsui OSK Lines, MOL Coastal Shipping, Tabuchi Kaiun, Niihama Kaiun, Murakami Hide Shipbuilding, and Hanshin Diesel Works will a build a methanol-fuelled coastal tanker. The 65. 5 m long vessel will be jointly owned by MOL Coastal Shipping, Tabuchi Kaiun, and Niihama Kaiun. The vessel will be built at Kanasashi Heavy Industries, part of the ...
Green corridor project launched between South Africa and Europe A new consortium will explore the options for developing a maritime green corridor for the zero-emission shipping of iron ore between South Africa and Europe, in a first for the continent of Africa. The consortium brings together Anglo American, Tata Steel, CMB, VUKA Marine, Freeport Saldanha, and ENGIE, convened by the Global Maritime Forum, to ...
Port of Montreal receives funding for expansion project in Contrecoeur The Montreal Port Authority (MPA) will receive C$75m ($54.8m)toward its expansion project in Contrecoeur from the Government of Quebec. The funding was announced this week by the province's finance minister as part of Quebec's 2023-2024 budget. "This contribution will allow us to continue the work required to develop the new container terminal in Contrecoeur," said ...
Port Arthur LNG project set to proceed Sempra Infrastructure Partners, LP, a 70%-owned subsidiary of energy infrastructure company Sempra, has reached a positive final investment decision (FID) for the development, construction and operation of the Port Arthur LNG Phase 1 project in Southeast Texas with direct access to the Gulf of Mexico. Sempra Infrastructure also finalised its joint venture with an affiliate ...
Shipping lawyer says 'racist' Department of Justice targeting Greek shipowners for sanctions violations Officials heard saying 'I'm tired of Greeks that don't want to comply' George Chalos tells Connecticut Maritime Association
Euronav shareholders opt for a balanced board, but what happens next? Saverys family bid to oust the Euronav executive board fails, but with two 25% shareholders now voted in, the new...
Biofuels replace LNG as most popular alternative fuel, survey shows Biofuels have become the most popular transition fuel in the past two years, according to survey of 500 shipowners, charterers...
Sanctioned Russian ship circumvents Bangladesh port denial with STS transfer Russian state-owned general cargoship was initially blocked from entering Bangladesh's ports because of US sanctions
DFDS to decarbonise ferries in deal with Channel ports 'The commitment by DFDS and our partner ports is an important step toward decarbonising cross-Channel transportation,' says chief executive
China's LNG imports projected to rise 10% Second-tier companies are seen entering the market in China and may optimise their portfolios, selling volumes into Europe instead, says...
MOL among backers of US ammonia fuel start-up SK Innovation chief Jun Kim believes ammonia power technology 'will revolutionise not only the maritime industry but the entire transportation industry'.
Global trade set for slow growth after fourth-quarter downturn Unctad expects growth to be 'stagnant' in first quarter. Outlook for second half of the year is more positive
Sunken tanker at centre of oil spill located off Philippines Japanese salvage company finds oil tanker that has been leaking fuel since sinking in the past month after running aground
Supply of new vessels will delay container market improvement, says OOIL The business outlook remains mixed and depends on an interplay of macroeconomic factors and container demand and supply
EU to set 2% renewable marine fuel target to cut carbon emissions Provisional agreement reached to set greenhouse gas intensity reduction targets for the shipping industry under the Fit for 55 package
One-off pilot error does not breach safe port warranty 'A single mistake, or even more than one mistake, does not necessarily render an individual incompetent,' say lawyers
Daily Briefing Euronav's future hangs in the balance ahead of shareholder showdown | Owners should welcome Greek maritime law shake-up | Business...
Autonomy is in sharper focus but lacks clear definitions One Sea general secretary Sinikka Hartonen has launched a two-way dialogue between technology providers and relevant stakeholders, with user feedback...
Ports America strikes deal to develop Gulfport container terminal Mississippi's Gulfport is looking to add more container handling capability with Ports America planning to redevelop a shuttered terminal for cargo handling.
FMC querying carriers, terminals on free time billing practices Ahead of a June deadline to issue new rulemaking on detention and demurrage billing, the Federal Maritime Commission is seeking clarity from carriers and terminals about billing shippers when container pickups and drop-offs are not possible.
Ocean carriers delay GRI attempts on India-US trades as rate slide continues Local freight forwarder sources in India say they view GRIs more as a tool to slow the erosion in rates rather than effectively trying to increase prices.
Europe agrees to 'ground-breaking' shipping decarbonization deal The provisional agreement between the European Parliament and European Council negotiators sets out a fuel standard for ships that steadily increases the use of renewable and low-carbon fuels.
Hamburg strike action closes vital waterway to container shipping The Port of Hamburg is once again being disrupted by strike action that is causing significant disruption to vessel schedules at Europe's third-largest container hub.
Adding another bathroom to the house? Evensen weighs in on dual-fuel propulsion The former Teekay leader stirs the pot with a panel of fellow commodores as the Connecticut Maritime Association prepares to honour Cesare and Paolo d'Amico
Views split on dark fleet tankers returning to mainstream trading As the dark fleet grows, some wonder what happens when sanctions are lifted
Chalos hits out at pro-sanctions pressure group and US sanctions enforcement Chalos & Co head says United Against Nuclear Iran's ties to US government are deep and influence sanctions policies
Maersk Tankers' Bisgaard steps down from commercial chief role Chief executive Christian Ingerslev will take on new duties as part of the move
Capesize bulker values surge to highest level since August 2022, report says China's lifting of ban on Australian coal has boosted capesize prices, VesselsValue points out
US launches action against engineer accused of rape Coast Guard administrative action comes as prosecutors consider criminal case against first engineer
Mr Ofer comes (back) to Wall Street and CoolCo steps into a void This week's Streetwise takes a look at Cool Company's journey to the Big Apple and the market back stories that paved its way
25 injured after research ship dislodged by storm in Scottish dry dock Footage shows the Petrel developed severe list in Leith on Wednesday
Navigator Holdings reveals $200m loan as it remains stuck with Russian charters US-listed LPG carrier shipowner refinances 2023 maturities but cannot extricate itself from deals with producer Sibur
Norwegian Cruise Line's Frank Del Rio retiring after eight years as chief executive Harry Sommer, president of Norwegian Cruise Line, will become Norwegian Cruise Line Holdings' CEO
Blood in the boardroom as two Euronav directors culled but CMB rebellion resisted John Fredriksen and Marc Saverys take a seat around board table, as Saverys family's three independent candidates rejected
Viridis closes in on order for ammonia-fuelled bulk carriers as Bureau Veritas approves design Zero-carbon fleet could be operational by 2025, says start-up backed by Mosvolds Rederi, Amon Maritime and Navigare Logistics
Pressure mounts on IMO as EU backs world-first green fuel law Campaigners say regulation is the first step to ending 'dirty shipping fuels'
Carisbrooke Shipping goes solar with Grafmarine panels on MPP deck NanoDeck technology adds renewable source of energy to cargo ship, owner says
UBS intends to keep hold of Greek Credit Suisse shipping clients post-merger In statements to TradeWinds, UBS stressed how good a fit the two banks are in the combined ship lending and wealth management business
Idan Ofer-controlled Eastern Pacific Shipping jumps on Vitol's vacated LR2 product tanker newbuilding slots There appear to be no shortage of takers when it comes to tanker newbuilding berths
EU passes world's first law on green shipping fuels Campaigners say regulations are the first step to ending 'dirty shipping fuels'
EU confirms world's first law on green shipping fuels Campaigners say regulations are the first step to ending 'dirty shipping fuels'
Shipowners struggling to accept price hikes for big tanker newbuildings, Braemar's James Gundy says But shipbroker says there are still reasons to order new vessels in better markets
Pelagic Partners targets bulker growth after buying German handysize Owner makes dry cargo move for second fund after previous tanker buys
Tanker sale glut halts inexorable rise of Greek fleet Busy sales market of older crude carriers to Asian interests sees rare pause on rise of Greek shipping
Greek operators hauling Russian crude return to pre-sanction levels Vortexa says European shipowners appear to have overcome initial reservations about moving Russian oil
Hafnia hands $4m of options to top two bosses following $13m of stock disposals Skov and van Echtelt rewarded for record performance in hot product tanker markets
DSME takeover: Hanwha Group wins approval from three Asian nations But South Korea and the EU are yet to have their say
Teekay Corp buys back $30m of shares and goes for another $30m Cash-rich tanker owner using earnings to boost investor value
MOL-led consortium orders methanol-fuelled coastal tanker Japanese shipping giant is part of six companies involved in building the ship
MOL pumps money into US ammonia to power start-up Amogy Japanese shipowner plans to convert ammonia into hydrogen for fuel cells
Canfornav cargo seized over alleged links to Russian oligarch Finland investigates case involving the handysize Smew at Kotka
Bank crisis, what crisis? Why shipping should keep calm and carry on This is not the end of the turmoil in the banking sector but neither is it the beginning of a financial crash
Bulker stocks hold firm as banks spark fears of market meltdown State of the dry bulk sector means that it is more resilient to shocks in wider financial markets
Euronav future hangs on board vote today, but which way will John Fredriksen swing? Rival shareholding group CMB wants to oust current board as differing strategies and heavyweight investors clash in Brussels
Wind power booster claims halved fuel bills in pitch for alternative fuels future James Rhodes of Magnuss Corp said wind propulsion systems are the only alternative fuels providing return on investment
Euronav future hangs on board vote today, but which way will Fredriksen swing? Rival shareholding group CMB wants to oust current board as differing strategies and heavyweight investors clash in Brussels
JX Nippon buys Japan's only drilling contractor as part of carbon capture drive Oil company says drilling wells to inject and store CO2 is an important component of the CCS/CCUS value chain
Insurers TT Club and ITIC turn on the charm with big bash in Singapore Night at the museum brings out star-studded cast from the world of marine insurance
Japan's finance shake-up set to hit LNG and container ship funding Arranging operating leases for newbuilding projects outside Japan is set to become more difficult
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