India has inked MoUs, agreements on maritime cooperation with 34 countries: Minister
The current scenario in liner shipping & the way ahead for Indian ports
Apeejay Shipping celebrates 75 years of excellence & maritime legacy
Carrier EBIT drastically down in 2023-Q2
Ocean freight rates likely bottoming out; shippers should look to lock in volumes: Analysis
Final Notice for on-boarding on the DGFT Common Digital platform for mandatory electronic filing of Non-Preferential Certificate of Origin (CoO) upto 31st August 2023
Manufacturing to add 50-100 bps to GDP till 2030
Indian technical textiles seen reaching $50 bn: Secy
Exports to FTA partners dip more
New Bharat NCAP will improve safety & quality: Gadkari
World's largest battery electric vessel is set for 2025 delivery Longtime Incat Tasmania customer Buquebús has now followed through on its plan to switch a 130 meter ferry under construction at the shipyard from LNG to all-electric propulsion. That means that the
Conrad Shipyard launches first vessel in Navy YRBM barge series Morgan City, La., headquartered Conrad Shipyard reports that it has launched the first in the series of YRBM barges on order at the yard for the U.S. Navy. The YRBM barges provide
FERRIES 2023: Shore charging systems for green ferries Electric and hybrid ferries have become increasingly popular as the world moves towards a cleaner and more sustainable future. Because of this, one trending topic in the ferry space is the need
Crowley in new offshore wind JV with Morgan Stanley Morgan Stanley Investment Management, through its Morgan Stanley Infrastructure Partners, and Crowley have created a new joint venture to advance offshore wind solutions for the United States. It will strategically combine Crowley's
MABUX reports irregular changes The MABUX global bunker indices did not demonstrate a sustainable trend during Week 34, shifting irregularly. The 380 HSFO index increased by US$1.59 from last week's level of US$560/MT to US$562/MT. The VLSFO index, on the other hand, declined by US$1.22. The MGO index increased by US$21.46. The market was in a moderate downturn at the time of publication. The Global Scrubber Spread (SS) - the p
GAC expands operations in East Malaysia GAC Malaysia, a provider of shipping and logistics solutions in Southeast Asia, has opened a new office in Kota Kinabalu expanding its presence in the region. More specifically, the new office, is GAC Malaysia's 14th and it is going to work in close cooperation with its Labuan office in the eastern state of Sabah and provide a wide range of shipping and logistics solutions, including ship agency,
Port of Hamburg handles 58.2 million tons Port of Hamburg recorded a gain of 7.7% in bulk cargo throughput at 19 million tons. More specifically, the first-half general cargo throughput was 11.1% lower at 39.2 million tons. 58.2 million tons of seaborne cargoes were handled by terminal operators in the port of Hamburg . Moreover, this is a reduction of 5.8% compared to the same period of the previous year. With tonnage totalling 23.1 mil
CMA CGM announces fumigation requirements to Australia and New Zealand CMA CGM advises its customers that, in response to the rapid spread of the brown marmorated stink bug (BMSB) throughout Europe and North America, Australian and New Zealand authorities have issued guidelines and instructions to prevent infestations for the 2023/2024 high-risk season (1 September 2023 to 30 April 2024). As with prior BMSB risk seasons, it is the customer's obligation to meet treat
Inchcape Shipping Services appoints new regional CEO Harun Duzgoren has been appointed regional chief executive officer for the Americas by Inchcape Shipping Services (ISS), a global leader in port agency and marine services, beginning 1 September 2023. Harun brings 23 years of managerial experience in the global maritime services business to his new post, as well as a breadth of cross-functional understanding. Prior to joining ISS, he was the chie
Port of Oakland container volume on the rise in July Port of Oakland's loaded container volume in July climbed to its highest level since October 2022. More specifically, full TEUs grew 16.8% in the previous month with the US port handling 136,181 TEUs compared to 116,629 TEUs in July 2022. At the same time, full imports rose 12.5%, with 78,122 TEUs transiting Oakland marine terminals, versus 69,463 TEUs in July 2022. Also, full exports jumped by 2
Latest data is 'a wake-up call' for shippers, as Xeneta argues now is the time to negotiate long-term rates Xeneta believes long-term ocean freight rates may have started bottoming out after around a year of persistent, often dramatic monthly falls. The Oslo-based benchmarking and market analytics company says the latest General Rates Increases (GRIs) from carriers appear to have held "relatively firm", pushing spot rates up above long-term rates on key corridors. As such, long-term prices may now foll
Port of Los Angeles moves nearly 685,000 TEUs in July The Port of Los Angeles handled 684,291 TEUs in July, translating to a significant 27% decrease from the previous year's record month. In particular, loaded imports totalled 364,208 TEUs in the previous month, a 25% drop from the same month in 2022. However, loaded exports increased by 6% year-over-year to 110,372 TEUs. With Asia's demand for empty containers declining, just 209,710 empty TEUs we
ZIM's Oceania-Asia service network: Restructuring or Withdrawal? While Haifa-headquartered ZIM has announced a "restructuring of its Oceania-Asia service network", the Israeli ocean carrier seems to withdraw from the specific trade lane. Trying to take drastic steps to cut its losses after a second quarter of red ink , ZIM has decided to cover the Oceania-Asia lane mainly by buying slots from MSC. In particular, on the Southeast Asia - Australia trade, ZIM's c
Container lines see earnings plunge 90% in second quarter After two very profitable years for the shipping lines, the market is shifting into a post-pandemic normality, as reported by Sea-Intelligence. More specifically, while the fourth quarter of 2022 gave a first glimpse into what this might look like, the first quarter of 2023 was the first quarter where the carriers' operating profits took a real hit. Additionally, this continued into the second qu
Crowley and Morgan Stanley form US offshore wind joint venture US-based maritime, logistics and energy solutions company Crowley has set up an offshore wind joint venture with Morgan Stanley Investment Management (MSIM). Investment funds managed by Morgan Stanley Infrastructure Partners, a private fund platform within (MSIM), will hold a majority stake in the newly created Crowley Wind Services, while Crowley will operate the business. The ...
Aker Solutions explores wave power for ageing offshore fields Norwegian subsea specialist Aker Solutions has teamed up with Scottish wave energy developer Mocean Energy to look into how locally generated low-carbon ocean power can extend the lifetime of existing oil and gas hubs by accessing stranded reservoirs and thereby reducing the need for new oilfield developments. The two companies have signed a memorandum of ...
Midshipman X engineer surrenders work license after sexual assault charge by US Coast Guard The US Coast Guard has filed an amended complaint against Edgar Torrecampo Sison, the man who allegedly sexually assaulted former Maersk Line, Limited (MLL) midshipman Hope Hicks. The new complaint looked to revoke his Merchant Marine credentials. The US Coast Guard opted for this move since the US Department of Justice decided against prosecuting Sison. ...
COSCO and Sinopec venture readies LNG carrier orders China Energy Shipping Investment (CESI), a joint venture between COSCO Shipping and Sinopec, is set to order three 175,000 cu m LNG carriers worth around $761m. In a regulatory filing, Sinopec said the Hong Kong-incorporated investment holding company, 51% owned by Shanghai Cosco Shipping LNG, a subsidiary of COSCO Shipping Energy Transportation and 49% owned ...
Ocean Installer scores more Equinor work Marine construction player Ocean Installer, formerly Havfram Subsea, has won a new contract from Norway's Equinor. The so-called subsea lines modification (SLM) project covers work at Visund, Vigdis, Åsgard fields and the Northern Lights CO2 pipeline. The award constitutes riser replacements at the fields with engineering commencing immediately. Offshore operations are planned for 2024 with ...
World's largest battery vessel gives shipping a glimpse of possible electric future The world's largest battery-driven ship is under construction in Australia, in a breakthrough for decarbonising global shipping. Tasmanian shipbuilder Incat is building a 130-m-long ropax ferry for delivery to South American operator, Buquebus, in 2025. The uniquely designed vessel will be the largest ever of its type and also be the world's first zero-emission, lightweight ...
DP Energy, SBM Offshore JV proposes first Canadian floating wind farm Nova East Wind, a JV between DP Energy and SBM Offshore, has proposed a plan to develop Canada's first floating offshore wind farm. The proposed floating wind farm project, with a generation capacity of 300-400 MW, would be located some 20-30 km off Goldboro, Nova Scotia. The project will support Nova Scotia's 2030 goal of ...
Gatik Ship Management breaks cover, hits out at 'media-induced controversies' Gatik Ship Management, once India's fastest-growing shipowner and key mover of Russian oil, has broken cover. The low-profile, mysterious Mumbai company was one of the most infamous companies to be linked to Russian oil shipments in the wake of war with Ukraine, building very rapidly a fleet of more than 60 ships worth more than ...
TechnipFMC picks up more subsea work on life extension project off Angola Offshore contracting giant TechnipFMC has been awarded a contract to install flexible pipe and associated subsea structures for the Girassol Life Extension project offshore Angola. The contract was awarded by TotalEnergies EP Angola and its Block 17 Partners. The deal was described as "significant" meaning that it was worth between $75m and $250m. TechnipFMC was ...
PGS bags 3D seismic deal offshore Africa Norwegian seismic player PGS has been awarded a 3D exploration acquisition contract offshore Africa. PGS said that a Ramform Titan class vessel was expected to mobilize for the survey in the fourth quarter, subject to final approvals, and the program has a total duration of four to five months. The client was left undisclosed. "We ...
Globus Maritime seals $75.5m order for two more bulkers Greek bulker owner Globus Maritime has signed two contracts for the construction and purchase of two bulk carriers of about 64,000 dwt. Globus said that vessels would be built at a "reputable" shipyard in Japan and were scheduled to be delivered during the second half of 2026. The total consideration for the construction of the ...
Why shipping should be worried about soaring ocean temperatures The past couple of months have seen countless headlines on wildfires and concern about the immense heat on land. Gaining less exposure, but potentially just as severe, have been the record-breaking ocean temperatures registered this year. The world's oceans have been breaking surface temperature levels almost weekly. Such high temperatures could bring extreme weather to ...
The Captain's Table set for its biggest showcase to date The Captain's Table, shipping's pre-eminent pitch competition, is set for its biggest showcase to date. The Hong Kong-based maritime startup contest, now in its fifth year, serves as a launchpad for aspiring entrepreneurs, inventors, and dreamers who aspire to transform their groundbreaking concepts into reality in the maritime industry. With an unwavering commitment to nurturing ...
Shipbuilding in 2026 Andrew Craig-Bennett is back. In his first column since May, he mulls shipowners, shipyards and the realities of decarbonisation. I must apologise for having been unwell. I am now better. I will pick up where I left off. I expect that you read Pierre Aury's article on May 3, titled Of camels and horses. It ...
FMC's Bentzel seeks more input on data initiative ahead of potential rulemaking Ahead of a potential rulemaking process, FMC Commissioner Carl Bentzel is seeking to solicit more public comment on his proposed...
Tanker outlook almost 'too good to be true', says Frontline Tankers formerly trading in Russia are rejoining mainstream trades, with little resistance from charterers, as long as they have no...
Reputation management lies behind failure to report safety incidents Seafarers wanting to report accidents and incidents are turning to secure social media channels, fearing employer backlash
Morgan Stanley and Crowley launch offshore wind venture Funds managed by Morgan Stanley Infrastructure Partners will take a majority stake in the joint venture, while Crowley will operate...
The quirks of insuring Black Sea ships in a war zone/B> Russian drone attacks at Danube river ports have deterred most underwriters from insuring ships that still trade there. But not...
European ports hit by weak demand A fragile European economy and geopolitical tensions are hitting throughput at Europe's key ports. Volumes are not expected to recover...
Klaveness Combination Carriers expects to continue positive run in second half Higher contract earnings for ships carrying caustic soda helped earnings, but the product tanker business fared worse in a weaker...
Ince Piraeus office unaffected by crisis at UK namesake firm Managing partner and two other Axiom Ince lawyers suspended after intervention by Solicitors Regulation Authority
Titan to offer LNG-based carbon insetting The companies claim that using LNG-based tokens - in a practice known as insetting - could help counterparties cut emissions by up...
Cosco Shipping to deliver from European yards to Chinese doors The Chinese box giant says its new product offers seamless shipping from container yard to door, including inland transportation in...
Shippers should look to lock in low rates Spot rates have been pushed up in recent weeks. With long-term contract pricing starting to head up too, shippers can...
Globus orders two more ultramaxes in fleet renewal drive The vessels, scheduled for delivery in 2026, have been contracted at a cost of $75.5m, which will be funded through...
Vessel traffic resumes at Dardanelles Strait as fire under control Vessel traffic resumes in Turkish strait as the forest fire that had caused the standstill is now under control
Midshipman X engineer surrenders credentials, avoiding sexual assault hearing The engineer charged with sexual assault in the Midshipman X case has voluntarily surrendered his US Merchant Marine credentials, precluding...
Cosco-Sinopec joint venture set to order LNG carrier trio for US cargo Vessels will serve a 20-year LNG purchase-and-sale agreement signed between Sinopec and Venture Global
Frontline flags Russian tankers returning to mainstream trades Tankers previously deployed on Russian oil trades are starting to return to the mainstream market as the price cap kicks...
Daily Briefing Maersk Oil Trading and GCC supplied contaminated fuel in Houston | Trade appears to temporarily slow at Izmail after Russia...
US Court of Appeals to hear Evergreen detention case against FMC The carrier is looking to have an earlier ruling by the FMC reversed, arguing that the agency turned the incentive principle guiding cargo flow through US marine terminals "on its head."
Data shows US in midst of extended period of inventory drawdowns: analyst Inventory drawdowns and right-sizing will keep Asia-to-US container and air freight volumes soft well into 2024, writes analyst Jason Miller.
FMC's Bentzel seeks industry input for agency's data initiative With a formal request for information, Federal Maritime Commissioner Carl Bentzel believes the agency is introducing a more "transparent and inclusive process" with stakeholders when it comes to policymaking.
MSC reconnects India to Asia-USWC string as contract rates tick higher MSC, which has implemented large-scale network realignments in recent months, halted Indian calls on the Sentosa service in April when it opened a standalone intra-Asia loop.
Revised terminal leases give PANYNJ cut of CMA CGM's demurrage revenue The Port Authority of New York and New Jersey said the new leases attempt to "strike a balance" to reflect current market realities, but other MTO sources called the practice of sharing demurrage uncommon.
Brazil's steel tariff hike may hurt ultramax bulker demand, brokers say Steel trade from Asia could suffer blow after Brasilia hikes import duties
Navios Maritime Holdings reports smaller profit on higher revenue Angeliki Frangou sees more growth prospects in Hidrovia home of logistics business
Solstad Offshore reveals record quarter as utilisation surges for CSVs AHTS fleet sees better commercial terms even as North Sea rig exits hit utilisation
Titan dives into carbon insetting with 123Carbon Bunker provider expands its offerings in a bid to scale up biofuel production more quickly
Corvus Energy wins battery contract for world's largest electric ship Aluminium ropax ferry is under construction at Incat in Australia
Sexual assault charges dropped after former Maersk engineer gives up licence in Midshipman X case Edgar Sison voluntarily surrenders credentials to avoid hearing
War risk rates creep up as Black Sea tensions flare Events are prompting some underwriters to raise rates in the tanker trades
The story behind public container ship owners' love for middle-aged capesizes This week's Streetwise takes another look at earnings season and why it's the boxship boys who are buying up bulkers
MISC bullish on prospects for LNG carrier and tanker markets But rising costs, scheduling and competition dog company's offshore and heavy engineering business segments
Top Glory's top team all-female as Cathrin Prikker becomes joint boss Former business development and sales director joins Silke Fehr in leading role at waste manager
Hamburg Commercial Bank 'well on track' but shipping income dips Portfolio slides as shipowners use their cash to pay down loans
Secretive tanker shipowner Gatik breaks silence to blame media controversies for 'losses' Indian company says press coverage forced changes of flag, insurance and class
Concordia may let tanker market cool before building fleet back up Bulker and offshore wind investments also being investigated as sales leave Swedish owner with one ship
Ernst Russ raises profit forecast as container ships 'stabilise' German company is more optimistic about its business than a few months before
Klaveness Combination Carriers comes up short, but still profitable Oslo owner with ships capable of dry and product trades sees Cleanbu segment come in lower than guidance
Seaspan buys and sells two ships as profit dips following US delisting Private tonnage provider reveals sale and purchase deals with shareholder ONE
Greek shipowner mulls spectacular asset play as product tanker triples in value Aerio Shipmanagement linked to sale of LR2 tanker bought on the eve of Russia's invasion of Ukraine
Ocean Yield reveals tanker sales to Hafnia and Navig8 as profit rises Norwegian leaseback specialist looking for new deals as purchase options declared
Frontline says tanker shipowners abandoning Russian trades, swelling mainstream fleet Norwegian shipowner monitoring developments as price cap effects start to bite
Corvus Energy wins battery contract for world's largest electric ship Aluminium ro-pax ferry is under construction at Incat in Australia
Hunter says slow progress of carbon capture market is holding back shipping Norwegian group also close to agreeing second maritime decarbonisation deal
Ship queue lengthens in Turkey as forest fire rages on Immoblised vessels are piling up in the Sea of Marmara and the northeastern Aegean but traffic is to resume soon
Frontline says tanker owners abandoning Russian trades, swelling mainstream fleet Norwegian owner monitoring developments as price cap effects start to bite
Frontline earnings hit 15-year high as it reveals strong forward rates John Fredriksen company says Asian demand is attracting more shipments from around the world
Greek ferry scene nowhere near solving fleet renewal conundrum Modernising Europe's biggest passenger ship market is akin to trying to square a circle
Unni Einemo trades bunkers for atoms as she joins Core Power Former IBIA director is the second high profile hire made in past month by UK-based nuclear start-up
LPG tanker captain charged over Gibraltar bunker spill Ship's master to appear before court again after investigation by local authorities
Houston reports record-breaking cargo volumes in July Houston and New Orleans reported increased monthly cargo during July, while Corpus Christi posted a rise in crude oil exports.
How much money do shipping CEOs make? Here's their 2022 pay info Average CEO compensation rose as ocean shipping company earnings increased, fueled in many cases by share-based compensation.
Boeing adds Middle East site for 737-800 cargo conversions Boeing has found an aviation services company in Jordan to carry out cargo conversions of used 737-800 jets.
FedEx, UPS pull back July cargo flights amid weak volumes The FedEx and UPS fleets are flying less, but Amazon's flight activity is up as the shifting parcel market impacts each company differently.
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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