Meyer Werft marks two cruise construction milestones Germany's Meyer Werft made two announcements Friday that show that cruise ship construction is picking up pace. The shipbuilder handed over its newest cruise delivery, Silver Nova, to Royal Caribbean's Silversea Cruises
New Vancouver Island Ferry Company cats set to start sailings Start-up Canadian operator Vancouver Island Ferry Company (VIFC) reports that its two new Damen catamaran ferries have now arrived at the Nanaimo, B.C., Port Authority's Assembly Wharf. Beginning August 14, they are
Capital Gas bets big on LCO2 carriers With carbon capture and storage set to be an increasingly important part of global decarbonization efforts , Evangelos Marinakis's Capital Gas Ship Management Corp. has placed an order for what will be
Biden at Philly Shipyard for GLDD subsea rock installer steel cut President Joe Biden visited Philly Shipyard, Thursday, as the yard and Great Lakes Dredge & Dock Company (GLDD) celebrated the cutting of first steel for the first Jones Act-compliant subsea rock installer
MSC's ScanBaltic to US service increases calls at Jacksonville MSC's ScanBaltic to the United States container service, now calling the Jacksonville Port Authority (JAXPORT) bi-weekly, is going to increase its sailing frequency into Jacksonville to weekly from early August. The service connects Jacksonville with seven destinations in Northern Europe. The service's port rotation is Klaipeda (Lithuania), Gdynia (Poland), Gothenburg (Sweden), Bremerhaven (Germa
JD Logistics and Geopost form strategic partnership JD Logistics (JDL) and Geopost have launched an important partnership to improve their worldwide logistics capabilities. The agreement is expected to improve international express services between China and Europe by combining JDL's warehouse network and Geopost's logistics delivery capabilities, providing consumers and companies with high-quality express logistics services. According to a statem
MABUX indices change sideways The Marine Bunker Exchange (MABUX) global bunker indices did not show a sustainable trend and changed sideways. The 380 HSFO index fell by US$2.15/mt reaching US$506.31/mt, the VLSFO index lost US$3.86/mt at US$605.59/mt and the MGO index showed an increase of US$5.12 climbing to US$824.77/mt. "At the time of writing, there was not a firm trend in the market," noted a MABUX official. The Global S
ICTSI wins Durban container terminal bid Transnet SOC (Transnet) announced that the process of choosing an equity partner for its flagship Durban Container Terminal (DCT) Pier 2 has been completed. Transnet has chosen International Container Terminal Services Inc. (ICTSI) as the Preferred Bidder for the 25-year joint venture to build and modernise the terminal alongside Transnet Port Terminals (TPT). Transnet's largest container facilit
Eight seafarers missing after Malaysian cargo ship capsizes The eight-man crew of a Malaysian cargo ship are feared trapped in the vessel, after it overturned and capsized on the night of 19 July. The domestic vessel, Tung Sung, is believed to have gone down rapidly amid heavy rain, leaving the seafarers with no time to react. Four Myanmar nationals, three Malaysians and one Indonesian make up the crew. Tung Sung, which plied only Malaysian coastal waters
CMA CGM implements peak season surcharge from Asia to South Africa CMA CGM has announced a new peak season surcharge (PSS) from Asia to South Africa that will be effective from 21 August. The French ocean carrier noted that the surcharge will be US$300 per TEU and will be applied to dry, reefer, out-of-gauge (OOG) and breakbulk cargo. The surcharge will be applied from ports in North East Asia, South East Asia, Mainland China, Hong Kong SAR, Macau SAR and Taiwan
Lowest ever tick on Transatlantic in 12 years, China-US trade rates ride strong to pull WCI above US$1,500 The Drewry World Container Index (WCI) pulled itself above US$1,500, once again owing to a good showing by the transpacific China-US head haul trade, ending at US$1,536. The Shanghai- Los Angeles trade ended at US$1,965 ending at a five-month high and registering a 24.2% growth in just 3 weeks. The Shanghai-New York trade ended at US$2,906, logging a weekly gain of over 7%. The rates for China-Eu
Update: Kaohsiung seals harbour after boxship lists - Fears of over 1,000 containers adrift Taiwanese government officials swung into emergency mode this morning (21 July), after the container ship Angel sank in Kaohsiung, causing fears that more than 1,000 containers are now adrift. While moored at Kaohsiung's anchorage No. 2, the 2003-built 1,581 TEU Angel suffered a crack hull and subsequent water ingress on the morning of 20 July, and began listing severely. The ship captain sent a
Update: KDB to exchange 37% of HMM convertible bonds; state to sell nearly 58% stake Korea Development Bank (KDB) has announced that as part of its divestment of HMM's shares, it will sell all its existing shares, plus 37% of its convertible bonds. In a notice posted on 20 July on Korea Online E-procurement System, which manages the South Korean government's procurement processes, including bidding and contract-signing, KDB said that it will sell its 20.69% stake, comprising 101.
APM Temrinals invests US$60 million in electrification pilot projects worldwide The US$60 million electrification pilot programme at Aqaba Container Terminal, APM Terminals Barcelona, APM Terminals Mobile, Pier 400 Los Angeles, and Suez Canal Container Terminal has recently started. APM Terminals has announced agreements with Konecranes and SANY for long-term partnerships on the development of electric port equipment to support these pilot projects. SANY will supply APM Term
Student News Hub: Stay Ahead with Help on Your Assignments In the ever-evolving landscape of academia, staying ahead necessitates more than just textbook knowledge. Students today need to stay informed and updated on current events, societal trends, and global issues. This is where Paper24's Student News Hub comes in, a platform designed to provide help with assignment while keeping students abreast of the latest happenings around the world. Stay Informe
LNG is becoming cheaper than VLSFO Sea-Intelligence analysts looked at developments in prices for Liquid Natural Gas (LNG) as a maritime fuel. The IMO2020 regulations necessitated the need to reduce sulphur emissions; the choice was between Very Low Sulphur Fuel Oil (VLSFO), LNG, or scrubbers, as all were viable options, but it was entirely unclear, which was the "right" choice. "As the market evolved, we first saw a spike in VLSF
IMO and IAPH ink MoU to strengthen ship-port cooperation The International Association of Ports and Harbours (IAPH) and the International Maritime Organisation (IMO) have signed a Memorandum of Understanding (MoU) for future collaboration in climate and energy, data sharing, and risk and resilience of ship-to-shore operations. The MoU was signed on 17 July by Captain K. Subramaniam, President of the International Association of Ports and Harbours (IAPH
PIL ship Kota Bistari arrested in Chittagong The Chittagong Port Authority (CPA) has arrested a container vessel of Pacific International Lines (PIL), namely Kota Bistari, being ordered by an admiral court, for damaging three boxes. The ship, with containers onboard, was supposed to sail on Wednesday noon but could not do so due to the court order after an importer filed a case seeking compensation for the damage. Now the Singapore flag car
DNV and UAE establishing maritime decarbonisation centre Classification society DNV signed a Memorandum of Understanding (MoU) with the UAE Ministry of Energy and Infrastructure for establishing a new UAE Decarbonisation Centre The new UAE Maritime Decarbonisation Centre will connect stakeholders from across the maritime industry and beyond, to become a driving force for reducing GHG emissions globally. The Centre will take a ...
Low-carbon fuel production initiative adopted at global summit The Clean Energy Ministerial (CEM) has today adopted the Clean Energy Marine Hubs Initiative (CEM-Hubs) at a summit in Goa, India. The first-of-its-kind platform brings together the private sector and governments across the energy-maritime value chain to transform maritime transportation and production hubs for future low-carbon fuels. The initiative is backed by Canada, Norway, Panama, ...
Cyan Renewables enters European offshore wind market with SOV buy Offshore wind service company Cyan Renewables has acquired a 100% interest in service operations vessel (SOV) Groenewind from Belgium's DEME Group. Cyan Renewables, a portfolio company of Seraya Partners, said that the vessel was two years old and operating under a 17-year long-term contract to service offshore wind farms in Belgium. This transaction is the ...
Black Sea shipping crisis escalates Black Sea shipping has descended into dangerous chaos not experienced since the early months of the war in Ukraine. In a tumultuous week for shipping out of the Black Sea, shipowners and insurers are taking stock and giving the region a wide berth as both Russia and Ukraine have declared the North-East Black Sea region ...
Putin's War: Maritime lawyer launches song to raise funds for Ukraine A well-known maritime lawyer is using music to raise funds and awareness for Ukraine by releasing a song and video highlighting the impact of the war from a child's perspective. Julian Clark, vice president and senior legal adviser of Gard, was inspired to write the song, titled Putin's War, after hosting two Ukrainian refugee families ...
Time to look beyond the numbers when it comes to sanctions Dominic McKnight Hardy, managing director of MIS Marine, on the new age of environmental regulation and sanction complexity. Today, the volume of sanctions totals more than 55,000, with 15,000 alone in place following Russia's invasion of Ukraine. But have we become distracted by these ever-increasing numbers and become blinded to the complexity of what these ...
US sending more forces to the Middle East Gulf to combat Iran vessel seizures The US is sending more forces to the Middle East Gulf amid heightened tensions in the region. Increasing its military...
Will Arsenio Dominguez be the 'disruptor' that the IMO needs? The difference between a good and ineffective IMO secretary-general is ultimately going to determine the future of global regulation within...
Ukraine's head of delegation at IMO removed Ambassador Prystaiko has led the Ukraine delegation at IMO since April 2021 and has remained in post through Russia's aggression...
Russia's naval blockade of Ukraine: Illegal, immoral, inept Blowing up neutral shipping is in nobody's best interest. Not even Moscow's
Wärtsilä reports increase in order intake, although operating result drops 12% in second quarter Finland-based marine power and systems provider expects its market demand environment for the next 12 months to be comparable to...
The Lloyd's List Podcast: How to get shipping into the clean energy value chain Ramping up the production of clean fuels is one thing, but joining the dots between ports, shipping and the logistics...
One Hundred Ports: Volume growth wanes as post-pandemic boom fades China's contribution masked an otherwise flat global throughput performance during 2022, a year that was fraught with the reverberations of...
One Hundred Ports: Container shipping bids farewell to the boom times Relief from the chaos of the past few years will be welcomed by terminal operators; but for container lines, a...
One Hundred Ports: Changing port calls - incarnation of an evolving global trade landscape 'Reglobalisation' is evidenced by the sharp decline in US port calls from China, while more boxships have arrived in Vietnam...
One Hundred Ports: Box terminals face earnings and cost pressure in slower market Congestion has ended, removing a revenue stream just as demand slows; but costs incurred during the pandemic - particularly...
One Hundred Ports: A tale of three coasts - how the pandemic shifted US imports The shift of cargo volumes from US west coast ports to those on the east and US Gulf coasts picked...
Japan's autonomous ship programme begins second stage, aiming for commercialisation by 2025 The second stage of MEGURI 2040 is starting with more focus on improving the accuracy of autonomous systems
Regional feeder boxship sinks off coast of Taiwan Former Transworld Holdings vessel had recently been sold to a Marshall Islands-registered owner and was loaded with a full complement...
Daily Briefing Russia has no right to attack neutral shipping, lawyers confirm | Shipping becomes a military target as Black Sea threats...
South Korean state shareholders invite bidders to take over HMM A bidding process has officially kicked off. Korea Development Bank and Korea Ocean Business Corp intend to sell their entire...
ILWU Canada caucus to vote on new tentative longshore contract deal The rollercoaster developments of the past three weeks, which began with a 13-day strike by ILWU Canada on July 1, have disrupted cargo handling at Vancouver, Canada's largest port and a gateway to US and Canadian markets.
Knight-Swift expects small uptick in peak season freight volumes The company expects a slight increase in truckload demand during the peak season amid uncertainty about the duration of the freight recession and the potential impact of Yellow's financial troubles.
Trans-Pacific preps for weak, shorter peak season before new capacity hits With a significantly shorter peak season expected this year, the ability of carriers to match capacity to demand will be tested over the next six months as they seek to keep spot rates from dipping below contract levels.
Clock ticking on Europe's new multimodal green transport proposals With European parliamentary elections set for early June 2024, road and rail lobby groups have emphasized the urgency of getting the latest freight transport measures adopted.
NWSA auto imports up sharply amid new business from Hyundai, GM New and expanded auto imports landing at the Northwest Seaport Alliance come as carriers take advantage of its proximity to Asian ports during a time of scarce ro/ro tonnage.
Clock ticking on Europe's new multi-modal green transport proposals With European parliamentary elections set for early June 2024, road and rail lobby groups have emphasised the urgency of getting the latest freight transport measures adopted.
Canada's labour rollercoaster: Dockers union makes about-face, putting contract deal up for a vote Striking, then not striking, then striking and not striking again, ILWU members gear up to put labour dispute on hold ... or not
'Rate sentiment is lousy': BTIG slashes price targets for bulker owner trio as values slump But investment bank's Gregory Lewis stays positive 'buy' rating for Golden Ocean, Genco and Eagle Bulk
Lawmakers rebuke MarAd's for 'unsatisfactory' responsiveness amid proposed funding cuts Republican-led committee aims to take MarAd headquarters funding down to 2022 levels
Tehran denies it owns oil on board seized Iran-flag VLCC Arman 114 was intercepted this month during STS transfer off Indonesia
Container freight markets stabilise, but charter markets feel the pain Container freight and charter markets are moving in opposite directions
Editor's selection: Why is a shadow fleet-linked shipowner ordering newbuildings? TradeWinds brings you some of the editorial highlights of the week
Start-up Cyan Renewables buys first SOV from DEME for Siemens charter Seraya Partners-backed owner takes secondhand vessel as it awaits newbuilding
Tehran denies it owns oil seized from seized Iran-flag VLCC Arman 114 was seized earlier this month during ship-to-ship transfer operation off Indonesia
Maersk Line ordered to compensate fired whistleblower after safety claims US subsidiary of AP Moller-Maersk criticises 'flawed' decision and vows to appeal
Germany's Hammonia and Greece's General Shipping take aim for paint battle in India Venue comes as a result of ship arrest in Gujarat
Nippon Salvage upgrades fleet with Mitsubishi order Investment is intended to modernise Japanese salvage company's ocean-going fleet
'We're not doing this because diversity is cool, it has a business sense' Shipping needs to make its transition equitable for everyone, according to Bound4Blue co-founder and chief operating officer
'We were treated as crazy': wind propulsion entrepreneur Cristina Munoz One of TradeWinds' ones to watch, the aeronautical engineer is today an award-winning maritime disruptor and business executive
Teekay's tankers to pilot fuel conditioner to reduce bunker use by 10% Canadian group will use emissions-reduction additive in Gibraltar and Singapore
Iran loses IMO maritime event over ship attacks US cites attack on Chevron VLCC Richmond Voyager as it opposes Iran hosting World Maritime Day event
Gard lawyer Julian Clark releases song to raise funds for Ukraine The moving Putin's War can be heard now on YouTube
MOL doubles VLCC newbuilding wager in China The Japanese shipping giant has a total of four LNG dual-fuel newbuildings on order at Dacks
Nine seafarers missing after Malaysian cargo ship capsizes Search and rescue mission resumes on Friday after accident off Subuyau
Clearlake extends charters of Pistiolis-owned suezmaxes for another three years Gunvor chartering arm agrees to pay slightly less than it is paying now for modern 157,300-dwt units from Greek shipowner
Dulam International sells dive support vessel for recycling Offshore sources say older vessels struggle to find employment in the Middle East despite recovering market
Q2 container line earnings could surprise to the upside Expectations for peak season have waned, but container lines may have bounced off the bottom.
Ocean carriers steadily losing pricing power in trans-Pacific Ocean carriers are steadily losing pricing power on the trans-Pacific as China to U.S. demand peaks for the second half of 2023.
DHL Express gets local approval for California air hub Ontario International Airport has approved a large cargo development for DHL Express to support express delivery on the West Coast.
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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