Canadian Coast Guard small vessel fleet set for major renewal The Canadian Government is to invest CAD 2.5 billion (about US$1.8 billion) in renewing the Canadian Coast Guard's small vessel fleet, which plays a critical role for the agency, especially in shallow
Nikolaus H. Schües takes over as BIMCO president At its general meeting in Hong Kong today, BIMCO, the world's largest shipping association, elected Nikolaus H. Schües, CEO and owner of Reederei F. Laeisz, as its president. Moving into the role
Maryland Pilots order second Baltimore class pilot launch The Association of Maryland Pilots has ordered a new pilot boat from Gladding-Hearn Shipbuilding, Duclos Corporation. Piloting the Chesapeake Bay since 1852, the Association of Maryland Pilots is the oldest state-codified organization
Hapag-Lloyd and ExxonMobil ink marine biofuel agreement ExxonMobil signed an agreement with Hapag-Lloyd in order to supply the German ocean carrier with B30 marine biofuel oil in the Amsterdam-Rotterdam-Antwerp (ARA) region. The marine biofuel delivery in ARA consisted in a 0.50% sulphur residual-based fuel (VLSFO) processed with waste-based fatty acid methyl esters (FAME). The resulting blend met ISO 8217:2017, while the FAME content complied with EN
AD Ports Group, Vale join forces to reduce CO2 emissions AD Ports Group signed a Memorandum of Understanding (MoU) with Vale, a company that produces iron ore and nickel and is also a logistics operator in Brazil. Through this MoU, the two companies aim to develop a mega hub in Abu Dhabi for industrial complexes that produce low-carbon products for the steelmaking industry for both the local and seaborne markets, with a significant reduction of CO2 emi
BIMCO elects new president Nikolaus H. Schües, CEO and owner of Reederei F. Laeisz, is the new president of BIMCO, elected at the organisation's general meeting in Hong Kong on 25 May 2023. Nikolaus H. Schües will be the 46th president of BIMCO and will take over the role from Sabrina Chao of Wah Kwong Maritime Transport Holdings Limited, who has completed her two-year term. He is a member of the Presidential Committee of
CJ Logistics opens Starbucks' largest distribution centre in South Korea South Korea's largest logistics player CJ Logistics has opened the largest Starbucks distribution centre in the country. Located near Busan New Port, the facility has an area of 38,000 m²;, equivalent to six football fields, and processes 130,000 imported shipments of coffee beans every day. Outside the United States and China, South Korea has the most Starbucks outlets, with 1,750 cafes. CJ Logis
PSA acquires stake in Vietnam's logistics provider PSA International acquired a minority stake in SOTRANS Group (STG), also known as South Logistics Joint Stock Company, from Indo-Trans Logistics (ITL). The acquisition will be completed through PSA's fully-owned subsidiary, PSA Cargo Solutions Vietnam Investments. "PSA's acquisition of a strategic stake in SOTRANS represents confidence in ITL and is an opportunity for us to leverage on PSA's glob
Steps of Logistics Software Development for Optimizing Supply Chain Operations Transportation has advanced in leaps and bounds, and transportation software development has moved into the spotlight. Logistics software development is a lucrative field but a complex one. In this article, we'll take a closer look at logistics and transportation software development and what it takes to build logistics software. What is transportation software development? Transportation softwar
Revolutionizing Your Business Model: The Untold Advantages Of Fulfillment Services In today's fast-paced and very competitive business environment, it's crucial that we're constantly looking for ways to improve and streamline our operations. One aspect of business management that often gets overlooked is the importance of efficient order fulfillment. Suppose you're not familiar with the term. In that case, fulfillment services like AMS Fulfillment are third-party companies that
Container spot rates remain high despite weaker supply/demand balance In this week's "Shipping Number of the Week" from BIMCO, chief shipping analyst, Niels Rasmussen, looks at the fact that despite a 70-80% fall in freight rates, and worsening of the supply/demand balance, liner operators have been able to keep rates higher than pre-pandemic levels. "The Shanghai Containerized Freight Index and the China Containerized Freight Index have dropped by respectively 81%
Nigerdock receives government approval for Snake Island Port Nigerdock, a Nigerian maritime and logistics company, and Snake Island Integrated Free Zone, an economic development area, have received approval from the Federal Government of Nigeria for the commencement and expansion of Snake Island Port, an 850,000 m²; facility. Snake Island Port is a multipurpose port facility comprising three terminals located within Snake Island Integrated Free Zone. The ap
ICS report shows potential risk for decarbonisation targets According to the International Chamber of Shipping (ICS) Maritime Barometer Report 2022-2023, uncertainty about fuel availability and infrastructure puts decarbonisation targets at risk, emphasising the need for a clear plan of action to manage risk. The first ICS Maritime Barometer Report is the first comprehensive yearly study of maritime leaders' risk and confidence. More than 130 C-suite deci
Fredriksen's Northern Ocean secures more work with Shell Namibia as TotalEnergies contract gets pushed back John Fredriksen-controlled Northern Ocean, a semisub rig spin-off of Northern Drilling, has sealed a contract extension in Namibia for the 2019-built while the start-up of another one of its units in the country has encountered some setbacks. Supermajor Shell has exercised and option to add a further six months to the semi's work scope, keeping ...
BW Ideol sets sights on multi-gigawatt floating wind off Spain and Portugal BW Group's floating wind company, BW Ideol, has teamed up with Spain's Elawan Energy, part of Orix Corporation of Japan, to jointly develop a multi-GW floating wind pipeline off Spain and Portugal. Subject to further negotiation of the final agreement between the parties, this exclusive agreement covers the joint development of several commercial-scale projects, within ...
BIMCO and Nautilus Labs white paper calls for revision of charter party frameworks A new white paper from shipping association BIMCO and US maritime artificial intelligence firm Nautilus Labs is advocating for a reconsideration of 'sail-fast-then-wait' behavior as it lays out the potential for a 15 to 20% reduction in emissions by changing current approaches to charter party frameworks without compromising fleet capacity. The phenomenon of sail-fast-then-wait (SFTW), ...
PSA buys into Vietnamese logistics firm Sotrans Singaporean terminal operator PSA International has picked up a strategic minority stake in Vietnamese logistics firm Sotrans. PSA Cargo Solutions Vietnam Investments acquired the stake from the majority owner, Indo-Trans Logistics (ITL). No specific figure was disclosed, but local media suggests a deal worth about $55m for nearly 25% of Sotrans's capital. Established in 1975, Sotrans' ...
DFDS' Torben Carlsen takes over as Danish Shipping chairman Torben Carlsen, chief executive of roro operator DFDS has been elected as the new chairman of Danish Shipping, succeeding Torm's boss Jacob Meldgaard after four years at the helm. The general assembly unanimously elected Carlsen (pictured left) on Thursday. Meldgaard (pictured right) will remain part of the shipowners' organisation board, together with vice chair Caroline ...
Japan's PowerX details battery tanker scheme Japanese power transfer vessel developer PowerX has unveiled the detailed design of the first-ever 'battery tanker' set for domestic and international field testing in 2026. The company's first electric propulsion vessel, called 'Battery Tanker X', boasts a length of 140 m and will be equipped with 96 containerised marine batteries, providing a total capacity of ...
American maritime assets targeted by Chinese malware American maritime assets are being targeted by Volt Typhoon, a Chinese state-sponsored snooping operation, tech giant Microsoft warned today. Microsoft said it has uncovered "stealthy and targeted malicious activity" focused on post-compromise credential access and network system discovery aimed at critical infrastructure organisations in the US. The attack is carried out by Volt Typhoon, a ...
Prysmian eyes UK cabling deal Italy's Prysmian has been selected as the exclusive preferred bidder for the Eastern Green Link 2 cable connection in the UK. The Milan-based cabling giant said contract talks with SSEN Transmission and National Grid Electricity Transmission, the UK's electricity transmission network owners, are ongoing with the aim of sealing the deal in a "timely manner". ...
AIS hackers create Russian 'Z' war symbol off Crimea With Russia gearing up to defend its captured territories from an expected counter-offensive from Ukrainian forces, a brazen act of Automatic Identification System (AIS) spoofing has been detected in waters off Crimea. British geospatial intelligence firm Geollect reports that many AISs of merchant ships have been spoofed to create the pro- Russian war 'Z' symbol ...
BIMCO elects Nikolaus Schües as president The world's largest shipping organisation, BIMCO, has elected Nikolaus Schües, CEO and owner of German-based Reederei F. Laeisz, as its new president. Schües takes over from Wah Kwong Maritime Transport Holdings' chairman, Sabrina Chao, as the 46th president of BIMCO and the first German national to hold the position since 2011. "I am honoured to be elected ...
JJ Ugland's floating wind arm unveils cheaper foundation concept Norway's Ocean Ventus has unveiled a new concept that it says will deliver cost-competitive power from floating wind. The company, majority owned by JJ Ugland's fabricator Nymo, is marketing a floater that is cheaper from start to finish, including production, transportation, assembly and maintenance. Ocean Ventus said its design, which has received approval in principle ...
Nils Smedegaard Andersen appointed chairman of Scan Global Logistics Scan Global Logistics (SGL) has appointed former Maersk supremo Nils Smedegaard Andersen as chairman of the board. In February, CVC Capital Partners Fund VIII (CVC) became the majority shareholder in the Danish logistics firm, a transaction that has now closed, receiving all relevant regulatory approvals from authorities. Global CEO of SGL Allan Melgaard commented on ...
Global container production to slump to 14-year low Stagnating trade and a ballooning surplus of shipping containers, following easing of pandemic era supply chain constraints, has led to a collapse in newbuild container output, which is forecast by UK consultants Drewry to slump to its lowest level in 14 years. Drewry estimates that global box production contracted 71% year-on-year to 306,000 teu in ...
NKT rolls out cable layer investment plan Danish offshore cabling specialist NKT has announced plans to build a new cable-laying vessel driven by an increasing demand for high-voltage power cables. The Nasdaq Copenhagen-listed firm said the move came on the back of strong order intake and a record order backlog of more than €7bn ($7.51bn) at the end of the first quarter ...
Hunt to track down ship responsible for Red Sea oil slick SkyTruth, a nonprofit environmental watchdog, is trying to track down the ship responsible for a 250 km long oil slick in the Red Sea, which it detected last week. Sentinel-2 imagery from May 19 showed the huge slick off Sudan, estimated to be around 120,000 gallons of oil. Out of 94 AIS vessel tracks transiting ...
Master of wrecked bulk carrier off Gibraltar faces jail time The Syrian master of the wrecked OS 35 bulk carrier could face two years in jail, after pleading guilty at a court in Gibraltar this week. Sentencing is due in the middle of June. The ship came into contact with LNG carrier Adam LNG while manoeuvring to exit the port of Gibraltar on August 29 last year. The ...
Bulk carrier grounds along the Suez Canal A 56,708 dwt supramax bulk carrier grounded early this morning along the Suez Canal with ships then backing up behind it. The ship was refloated nearly four hours after it ran into difficulty. The Hong Kong-flagged ran aground at KM 159 at the canal's southern end at around 0400 hours, according to Leth Agencies. MarineTraffic ...
Shipping is long on optimistic claims but short of good optimisation data A new technology gold-rush is confusing buyers and encouraging providers to make unrealistic comparisons, writes Anders Bruun, CEO Coach Solutions. To read some of the claims being made in the shipping market it seems as though if we took all available vessel optimisation solutions and implemented them across the fleet, shipping would be a net ...
Uncertainty is holding back industry decarbonisation, not technology If the political stars align and the right demand signals can be emitted, the latest analysis suggests that even the...
Imabari Shipbuilding chief urges Japanese yards to combine design strength Individual shipyards in Japan should form an alliance or combine their ship design, research and development division under the Japanese...
Wärtsilä's ammonia dual-fuel engine to be ready at the end of 2023 Green ammonia and green methanol are expected to be the primary zero-emissions marine fuels to help the industry decarbonise
Why MEPC 80 will prove pivotal to industry and the future of the IMO The outcome of this summer's pivotal MEPC 80 meeting inside the IMO will not agree policy, but it will set...
Court of Appeal finding in Quadra v XL strengthens hand of insureds Decision has market-wide implications for 'insurable interest' provisions in cargo insurance policies
BIMCO and Danish Shipping appoint new heads Nikolaus Schües takes over from Sabrina Chao as president of BIMCO. Meanwhile, Jacob Meldgaard stands down from Danish Shipping as...
LR programme seeks boxship fire-detection technology submissions A fire in a container at the bottom of a stack could be well underway before crew notice. Detection technology could...
Hengli Heavy Industry wins order for four bulkers The latest order placed by a Greek shipowner increases Hengli's orderbook to 14 vessels
Suez Canal groundings double this year While incidents are comparatively higher than previous years, the overall impact on traffic flow is often minimal given the Suez...
Equipment demand plummets as carriers cut back Container lines desperate for boxes pushed production up to 7.2m teu of equipment in 2021. This year the global fleet...
BW Epic Kosan expects continued strong markets ahead The small gas carrier specialist will continue to focus on the liquefied petroleum gas, petrochemicals and specialty gases sector while...
Daily Briefing EU block exemption renewal faces political hurdles | FMC actions from US shippers highlight coercive power of carriers | Pandemic...
Shipping icon Bertram Rickmers, 71, succumbs to injuries from fall Visionary shipping legend Bertram Rickmers created the Pearl String, the only round-the-world breakbulk liner service, which operated from 2003 until the fall of Zeamarine in 2020.
Shippers hold onto intermodal boxes amid warehouse reshuffling: survey As shippers scramble to shed unwanted inventory, more than 80% responding to a Journal of Commerce survey reported that they've kept 53-foot domestic containers for too long, incurring detention fees.
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Carriers pare blank sailings in May as ocean freight rates steady With spot freight rates largely stabilized, ocean carriers have blanked fewer sailings in May and instead opted for more biweekly sailings.
Ocean trade emerges from pandemic haze to face new realities Although the container shipping order book is the highest it has been in many years and demand remains subdued, the ground is shifting under the ocean market in new and unfamiliar ways, writes Peter Tirschwell.
Forwarders locked in margin-destroying price war in post-COVID ocean market Price is once again on the side of shippers, with excess ocean capacity allowing them to extract lower rates from service providers.
Seanergy posts loss fuelled by 'seasonal weakness' but gives dividend on bullish outlook Capesize bulker spot market has fallen by a third in past two weeks, however, to under $15,000 per day
Upcycle coming: Star Bulk is a stellar bargain, Clarksons Securities says Compelling ship supply situation makes Greek giant a strong investment case
Swire Bulk to close London office as it eyes consolidation of its European operations Singapore-headquartered bulker operator is considering the future of its European and Australian bases
Lines look for Panama fillip to seal delayed transpacific contracts Panama Canal surcharges could boost stagnant freight rates
Up-cycle coming: Star Bulk is a stellar bargain, Clarksons Securities says Compelling ship supply situation makes Greek giant a strong investment case
Streetwise: Outgoing Genco Shipping CFO Apostolos Zafolias on lessons learned in 18 years of good, bad and ugly This week's Streetwise newsletter bids adieu to a departing money chief but not without some tales from his 18 years in ship finance
China on alert as ageing tankers discharge Russian crude Detentions increase across Asia as sanctions targeting Russia change tanker fleet demographic
Hapag-Lloyd eyes 'challenging' 2045 carbon target as its first LNG-fuelled container ships emerge First of 12 pioneering 23,500-teu LNG dual-fuelled container ships set for delivery in mid-June
Jacob Meldgaard hands over to Torben Carlsen at Danish Shipping DFDS boss replacing Torm CEO as chairman after a four-year stint
Anemoi ramping up production of rotor sails for big bulkers and tankers UK-based company spun out of Greece's Blue Planet Shipping will raise external finance this year for the first time as it takes production capacity to 50 rotors per year
ESG the key for Oslo shipping investors, says bourse chief Amundsen Stock exchange boss says if shipowners are not part of decarbonisation, they will lose out
Ship AIS data spoofed to draw pro-war Russian Z symbol in Black Sea UK says fake tracks created as morale boost before Ukrainian counter-offensive
F Laeisz's Nikolaus Schues takes over at Bimco with digitalisation mission F Laeisz supremo replacing Sabrina Chao as president after her two-year term ends
'Dream big': New generation of shipbrokers on the rise at Leeway Brokers of Dubai Team of maritime millennials have global ambitions in the dry bulk chartering space
Shipping not investing enough in its people, says South32's Su Yin Anand Mining giant's outgoing head of shipping makes some pointed closing arguments at TradeWind's Shipowners Forum
Erik Thun wins Swedish cash to fit batteries on dry cargo ships Owner reveals award from the state Climate Leap initiative
Knutsen OAS reveals mammoth $626m profit as revenue tops $1bn Seglem family operation expects another 'satisfactory' year as it plots to grow its LNG contract backlog
Hunter Group establishes carbon carrier outfit while teasing further activity Shipless Oslo-listed player says it is in the final stages of developing a liquefied CO2 carrier
BW Epic Kosan snaps up bargain duo as it ships out seven smaller gas carriers BW Group-backed LPG vessel owner continues to focus on larger sizes
Huge benefit of 'dynamic' flight for kite on Airbus ro-ro aims to prove 20% savings Airseas says year of transatlantic trials proved SeaWings kite can help pull ship and take-off and landing system works. Now for the full magic says founder
Mitsui & Co returns to Hyundai yard for product tanker newbuildings The Japanese trading house has a total of six 50,000-dwt product tankers on order at the Hyundai yard
Suez Canal authority refloats briefly stuck Chinese bulker Northbound ship traffic resumes in Egyptian waterway
Market analysis: Oil majors loosen age restrictions as Middle East OSV supply tightens Regions offshore players say that desperate big-name charterers are willing to fix vessels of up to 20 years in age
Vale eyes India as it prepares for peak in China steel production Brazilian mining giant says that while global output will increase the market will become less reliant on one country
New generation of shipbrokers on the rise at Leeway Brokers of Dubai Team of maritime millennials have global ambitions in the dry-bulk chartering space
Upping LNG bunker vessel efficiencies could add two ships to mix Expect to see first methanol-fuelled pure car/truck carrier this year, DNV says
Cargo volume mixed at Gulf Coast ports in April Container volume at ports in Houston and New Orleans fell in April, while Corpus Christi was bolstered by crude oil exports.
Sun still shines on South America's container shipping trade Not all cargo markets are back to pre-COVID "normal." Container shipping rates to South America remain elevated.
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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