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JUNE 26, 2023

MSC adds Jubail to India-West Med service Global trade in goods & services rebounds in Q1 India & US announce resolution of six outstanding WTO disputes during Prime Minister's visit VLCC freight rates seen rationalising CMA CGM Bijagos Shuttle service for cashew exports to India resumes AD Ports Group signs 50-year Concession Agreement with Karachi Port Trust for container terminal ZIM expands partnership with cross-border trade financing platform DPA declares non weather working days Examination of Export goods at Export Docks in two Shifts X-Press Feeders launches Colombo-West Coast India service A new age of volatility seen in container freight as peak season approaches ECGC raises ambit for exports risk cover to Rs 10 trillion B'desh imposes 15 pc VAT on Indian cargo Baltic Exchange Market Report (23 June 2023) India's GDP growth seen up at 6.3 pc for FY24: Fitch Major Ports' traffic increases in April-May Oilmeals export up 59 pc in April-May Steel exports dip

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JUNE 26, 2023

Pan-Iceland links A joint venture to develop H2-locomotives Boosting traffic on China-Europe axis Bijagos Shuttle returns for cashew season Paris instead of London Genesis takes delivery of 20th 737-800BCF Transporting hydrogen by rail Kombiverkehr shifts more trucks to rail David Roussiere: next stop India First new widebody jet for Iraqi Airways Historic moment for APM Terminals Apapa Cargo-Partner: a major investment in China Cargo crimes reduced over the last five years Austria's Logistics Award 2023 goes to RWA ID Logistics appoints group HRD "Curiosity of the Day" Konecranes' newest acquisition One airshow after another

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JUNE 23, 2023

Freight rates still tumbling and a liner bear market looms Logistics budget down under - one of the most difficult in decades Air cargo breaks cloud for a ray of sunshine as rates finally edge up Automotive industry change will spark a whole new supply chain Warning to Dutch government over Schiphol Airport slot reduction plan Striking dock unions should pay $2 billion a day, say Republican senators

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JUNE 23, 2023

"Steel in the water" at South Fork Wind South Fork Wind, New York's first offshore wind farm, yesterday achieved its "steel in the water" milestone with the installation of the project's first monopile foundation. The development comes within less than Maersk green-methanol engine retrofit could open door for many more In a shipping industry first, A.P. Moller - Maersk is to retrofit an existing ship to a dual-fuel vessel able to operate on green methanol. It has signed an agreement with PrimeServ Norwegian mystery owner to power newbuild with Amogy powerpacks Brooklyn, N.Y., headquartered Amogy Inc. says it has entered a pre-order contract with "an undisclosed renowned Norwegian shipping company" that will see it supply four of its 200 kW ammonia-to-power systems for Kongsberg to offer U.S.-built Kamewa waterjets In what it calls "a step change in support for its U.S. customers," Kongsberg Maritime has established a dedicated manufacturing facility and service team to provide in-country support for its Kamewa waterjet House Appropriations Committee approves strong FY 2024 inland waterways funding The Waterways Council reports that the House Committee on Appropriations has approved, by a vote of 34-24, the FY 2024 Energy and Water Development (E&W) Appropriations Bill. Included in the bill are

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JUNE 23, 2023

Wilson Sons invests in new port equipment at Brazilian terminal Wilson Sons-operated terminal Tecon Salvador has decided to invest around US$5 million in 12 electric yard tractors, two reach stackers, and a side loader. Terminal tractors transport cargo between vessels and container storage areas and aim to increase the operating capacity of the port of Salvador in Brazil. According to Wilson Sons, by adopting technologies that rely less on the consumption of MOL and Chevron join forces to reduce greenhouse gas emissions Mitsui O.S.K. Lines (MOL) and Chevron Singapore have signed a memorandum of understanding (MoU) for a strategic alliance aimed at lowering the carbon intensity of the marine energy industry. In particular, the companies will conduct joint research on next-generation fuels in various regions around the world and jointly study safety measures and legislation for lower-carbon efforts in the marine e DP World to increase box capacity at Belawan New Container Terminal in Indonesia DP World is ready to commence operations at Indonesia's Belawan New Container Terminal (BNCT), after finalising a deal with the Indonesia Investment Authority (INA) and Pelindo to manage the terminal and begin a major expansion. "The strategic partnership between INA, Indonesian government-owned port operator Pelindo, and DP World will create Indonesia's most direct link with the Malacca Strait, Feeder trio and Cyberlogitec design dangerous goods screening software South Korean maritime software maker Cyberlogitec has joined hands with compatriot feeder operators Sinokor Merchant Marine, Namsung Shipping and CK Line to expedite the digitalisation of dangerous goods management. Cyberlogitec is a subsidiary of Eusu Holdings, formerly Hanjin Shipping Holdings, the previous holding company for now-defunct Hanjin Shipping and other businesses controlled by Choi SC Ports handles over 2.4 million TEUs so far in FY23 South Carolina Ports (SC Ports) has handled over 2.4 million TEUs and 1.3 million pier containers so far in the fiscal year 2023 (July 2022 - June 2023). In May, SC Ports handled 198,824 TEUs and 110,834 pier containers. Container shipments are down roughly 22% year on year as a result of the tightening economy. Imports are falling as individuals spend less on products, but exports are rising, wi CMA CGM's Eurosal line returns to France CMA CGM Group said the Eurosal service connecting North Europe with the West Coast of South America and the Caribbean will go back to Le Havre, France, after more than two years. Guayaquil Express will be the first vessel to return to Le Havre, travelling from the port of San Antonio in Chile on 25 July and arriving at Le Havre's Terminal des Ameriques on 2 September 2023. Additionally, a tenth s ICTSI's Basra Gateway Terminal handles first direct UAE-Iraq freight service Basra Gateway Terminal (BGT), ICTSI's operation at the port of Umm Qasr in Iraq, received the first direct freight service between the United Arab Emirates and Iraq. The service connects Jebel Ali in Dubai with Umm Qasr with fast, efficient and safe roll-on, roll-off (RoRo) shipments. Additionally, the service offers a cut alternative travel time of 36 hours from the Port of Jebel Ali to the Port King Abdullah Port and TABADUL confirm digitalisation partnership The Saudi Company for Electronic Information Exchange (TABADUL), a supplier of innovative digital and smart fintech services to the logistics sectors, and King Abdullah Port have announced the signing of a strategic collaboration agreement. The contract combines King Abdullah Port's Smart Gate System with Tabadul's Truck Management System, boosting the Saudi port's services by utilising the most DP World proceeds with electrification projects in Brazil DP World is accelerating its adoption of renewable energy at the Port of Santos in Brazil making another step towards carbon neutrality by 2040. The initial phase of the electrification process includes the replacement of diesel fuel with electric power for the Santos terminal's Rubber Tyred Gantry (RTGs) container handling cranes. A total of 22 diesel-fueled units will be electrified, by the end ShibataFenderTeam supplies more than 80 fender systems for Nigerian port ShibataFenderTeam (SFT), dutch marine company, has engineered an optimised design solution with 80 fenders for the new Lekki Port in Nigeria. Lekki Port aims to significantly increase the container throughput capacity of the western Nigerian port complex. According to ShibataFenderTeam, working in close partnership with the contractor, who was awarded the construction of the new infrastructure, t

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JUNE 23, 2023

DP World to start expansion of Indonesian container terminal Dubai-based terminal operator DP World is set to begin management and a major expansion of Indonesia's Belawan New Container Terminal (BNCT). DP World said that it finalised an agreement with the Indonesia Investment Authority and Indonesian state-run port operator Pelindo. The partnership between the three entities will create Indonesia's most direct link with the Malacca ... MOL and Chevron look to slash carbon intensity of marine fuels Japanese shipping giant Mitsui OSK Lines (MOL) has joined forces with Chevron Singapore to jointly develop marine fuels with lower carbon intensity. The partnership will see joint studies carried out on next-generation fuels in various regions around the world including safety measures and legislation for lower-carbon efforts in the marine fuels sector. "Chevron aims to ... Petrobras taps PXGEO for Campos Basin survey Marine seismic player PXGEO has won a new contract from Brazil's Petrobras for a 3D ocean bottom node (OBN) survey in the Campos Basin. The survey will be acquired in water depths of 2,300 m and last for approximately 10 months. The project will be PXGEO's fifth carried out for Petrobras since mid-2021. The most ... Eagle Bulk adopts poison pill as it buys out Oaktree in $219m deal US-based Eagle Bulk Shipping has bought Oaktree's 28% stake in the company for $219.3m via a repurchasing program and adopted a shareholder rights plan preventing a takeover. Eagle Bulk said that it bought approximately 3.8m shares of Eagle common stock for a purchase price of $58 per share. Additionally, the company announced that it adopted ... AD Ports puts pen to paper on 50-year Karachi terminal concession UAE's AD Ports has signed a concession agreement with Karachi Port Trust, the Pakistani federal government agency that oversees the operations of the Port of Karachi. Under the terms of the 50-year concession agreement, a joint venture between AD Ports as a majority shareholder and Kaheel Terminals, a UAE-based company has been formed to manage, ... SLB CEO: Offshore exploration spending to grow over 20% this year With offshore exploration and appraisal making a comeback, this year could see offshore exploration spending increase by more than 20%, SLB CEO Olivier Le Peuch said. Le Peuch recently spoke at the J.P. Morgan Energy, Power & Renewables Conference where he made a few predictions regarding the offshore oil and gas industry for this year ... Borr Drilling jackup gets more work in Thailand Norwegian jackup rig owner Borr Drilling has secured a contract extension from Canada-based oil and gas company Valeura Energy for its premium rig operating in Thailand. The contract extension covers a firm term of 9 months starting in direct continuation to the rig's current employment that was set to end in November. The new deal ... Scorpio Tankers clinches four-ship financing New York-listed Scorpio Tankers has sealed a $94m financing deal with Germany's DekaBank Deutsche Girozentrale for four of its vessels. The Monaco-headquartered owner and operator of 113 tankers said the proceeds would be used to finance one MR and three LR2 product tankers. The company agreed to a margin of 1.7% over the Secured Overnight ... Ørsted develops USV measurement vessel for offshore wind farms Offshore wind farm developer Ørsted has designed and developed the first uncrewed surface vessel (USV) in the industry for offshore met-ocean measurement campaigns. The measurement data will help lower uncertainties in the expected annual energy production for new offshore wind farms. Ørsted, who has patented the USV concept, sees enormous potential in the technology and ... Sail, solar, and battery retrofit solution gets approval A retrofit solution involving rigid sails, solar panels, and batteries has received an approval in principle from Italian class society RINA. Designed by naval architects Aurelia, in partnership with Econowind, Wattlab and Vertom, the solution can be applied to almost any kind of vessel, whatever their purpose or cargo. It does not interfere with operational ... Join the DotS on the Day of the Seafarer Sunday marks the International Day of the Seafarer. Who better to write for Splash on the topic than Steven Jones, the founder of the Seafarers Happiness Index? As we all celebrate, commemorate, commiserate, or whatever is appropriate for the Sunday's International Day of the Seafarer (DotS), it seems a good time to reflect on the ...

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JUNE 23, 2023

Heidmar's private-to-public voyage sees Nasdaq listing within sight 'I don't want to start as a shipmanager from scratch' says chief executive Pankaj Khanna, who wants to buy a... 'Terrible policy' relying on commercial incentives for energy transition Regulation should be driving the energy transition, Gurnee tells a Marine Money forum. Expecting stakeholders to pressure shipping companies into economically... China's lacklustre stimulus and weak recovery exhausts dry bulk patience A 'bazooka' move by Beijing to resume China's flagging growth is not expected to occur, with dry bulker shipping, especially... If Greta Thunberg doesn't shame you, Legal & General Investment Management will Even if you're as tired of environmental stuff as Tor Olav Trøim, you'll soon find out that the more polluting... Capesize rates rise 36% on Atlantic activity Flattening of the futures curve attributed to uninspiring macroeconomic outlook, although some positive movements have been seen in recent sessions MSC snaps up feedermaxes and sells eighth boxship for recycling MSC has been linked to a number of recent secondhand containership purchases and is now thought to have bought 310... Handysize loading in Crimea points to expanding Russian grain operations The arrival of a larger Russia-flagged bulk carrier in the Crimean port of Feodosia indicates that Moscow is expanding its... China's BoComm Leasing turns to 'classic ship finance' BoComm expects to commit $3bn in capital to shipping in 2023, Marine Money conference in New York hears Why a sense of humour will steer us through the messiness of decarbonisation In a speech to naval architecture graduates, ABS chairman Christopher Wiernicki observed that people will be the real heroes of... Grains into China a clear positive for dry bulk shipping, says Braemar Global head of dry research at the London-based broking house, Derek Langston, says sub-capesize vessels can draw support from grain... DP World and Indonesia join hands to double capacity at Belawan New Container Terminal The terminal expansion is part of a $7.5bn partnership between DP World and the Indonesia Investment Authority launched in 2021 NYK geared up for $1.4bn transition bonds Proceeds will be used to fund new and existing projects related to NYK's fuel conversion plan, including vessels powered by... Marine insurance: Back in black, but further rate hikes in prospect Claims inflation is rising perceptibly, yet not to the same extent as inflation in the wider economy and consumer market Performance Shipping sees 'sustainably' firm tanker market ahead An LNG-ready aframax on order for 2025 is a reflection of company's view that the market's fundamentals are positive Marine Money spat over substandard New York shipping listings Head of Olso-listed Gram Car Carriers also tells Marine Money capital markets panel he's being dragged down by 'shit listings�... MOL and Chevron to form decarbonisation alliance Initiatives include the use of new technologies, such as wind power and electricity, in tankers that are on long-term charters... Daily Briefing EU sanctions ship ban details yet to be decided | Diversity has gone too far argues Tor Olav Troim |... Eagle Bulk buys out Oaktree for $219.3m and adopts poison pill amid rapid stake build-up by Danaos Eagle Bulk buys out Oaktree Capital's 28% stake for $219.3m and adopts a limited duration shareholder rights plan after Danaos...

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JUNE 23, 2023

SSA Marine looks to expand into new US ports with deal for Ceres Carrix, the parent company of terminal operator SSA Marine, said it has agreed to buy Ceres Terminals for its exposure to container business going to the US East and Gulf coasts. C&K Trucking expands to Columbus and Kansas City, with more to come The major eastern US drayage provider is looking to expand its footprint to California and the Pacific Northwest before the end of the year, markets where its major competitors already operate. Demand pressure keeps India-US contract rates sliding despite GRI efforts After two attempts to push through GRIs largely failed, forwarder sources in India believe it will be difficult for carriers to achieve success under current tight booking conditions, but liners have nonetheless lined up further rate hikes. Shipping path to net-zero rests on post-MEPC 80 regulatory progress: WSC While the London meeting of the IMO's environment committee will revise its 2050 emissions targets, the next critical step is to quickly establish the global regulatory framework to underpin those ambitions. Emerging from pandemic fog, global reefer market reverts to type If the reefer mode can tough out the rest of 2023, next year should be better for operators largely because there will be more cargo, and therefore demand will be stronger, writes analyst Richard Bright.

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JUNE 23, 2023

US pushes for zero emissions at IMO but is still on the fence on carbon levy Biden administration is open to taxing carbon but has voiced support for a global fuel standard EU announces tanker port ban on no-notice ship-to-ship operations Measures were included in 11th package of sanctions levied against Moscow by 27-nation bloc Baltic Dry Index heats up as temperatures rise in coal-hungry China Average capesize bulker rates boost the BDI as country's coal demand rises to provide electricity for air conditioning KCC firms up $180m order for next generation of Cabu combination carriers Letter of intent in China becomes firm deal for three vessels Poison pill: Eagle Bulk adopts anti-takeover language after Danaos builds stake Acquiring parties to be capped at 15% of shares outstanding or face punitive dilution steps Editor's selection: Troim's back, carbon gambit and shipbroker goes bust A look back at the important and intriguing stories of the week, brought to you by TradeWinds' team of international reporters Prow Capital cautions finance gap still exists as big banks chase listed owners Dutch finance house has money to help smaller shipowners with the energy transition Cluttered bridges and complex navigation tech contributes to accidents, IMO told Review of accidents by European investigators reveals how badly designed displays have played a role in marine casualties Pelagic Partners expands again with Hafnia tanker buy and bulker deal Cyprus shipowner also makes its third payout from original investment fund Alternative ship finance house Prow Capital roars past $119m lending mark Dutch newcomer explains how it has been building up its portfolio through first fund CMA CGM said to have chosen China's Yangzijiang for huge ultra-large container ship order CMA CGM has 36 methanol dual-fuel container ship newbuildings on order at shipyards in South Korea and China including the 24,000-teu vessels at Yangzijiang Oman's Asyad Shipping puts middle-aged VLCC trio up for grabs Scrubber-fitted ships pushed out on the market by state-owned group in apparent fleet-renewal move Big dividends ahead as MPCC 'materialises' asset values with sale and redelivery But Clarksons Securities has downgraded container ship owner to neutral Vogemann bulks up with capesize and kamsarmax newbuildings at Hengli Heavy German owner expands further into large bulkers with a huge order Vafias bulker spin-off C3is makes rollercoaster Nasdaq debut Greek owner's latest venture plunges on first trading day but recovers after the close OSG doubles up on its share buyback programme in stronger markets Jones Act tanker owner can spend another $10m on its own stock MOL and Chevron partner up to reduce the carbon intensity of marine fuels Research will be carried out into lowering emissions from existing marine fuel oil and LNG Frontline triumphs as eight owners vie for Brazilian VLCC cargo but rates plunge Testing times ahead as charterers keep their cool and break owners' resolve Turkey's Ciner bumps up Jiangmen orderbook to 10 handysize bulk carriers Major industrial group and shipowner now has 17 bulkers under construction in China worth more than half a billion dollars Marubeni teams with Bound4blue to sell suction sails worldwide Agreement builds on project with Spanish manufacturer to fit eSAIL on panamax bulker Oldendorff's Maritime & Merchant Bank boosts liquidity with share split Boss Halvor Sveen says niche lender is not looking for new investors Will US, EU and UK gambit be able to force through 2050 zero emissions target? Tense negotiations begin at IMO working group to determine shipping's decarbonisation goals Mystery Norwegian owner set to debut ammonia hybrid fuel cell system Amogy hopes first deal will serve as an inspiration for other shipowners to follow Euronav legal victory over UniCredit tames 'almighty' power of bills of lading, lawyers claim Behaviour of cargo financiers under scrutiny when courts decide if owners are on the hook for misdelivered cargoes Who's buying Oaktree's stake in Eagle Bulk? Eagle Bulk is Deal for $219m comes as Danaos Corp reports snapping up more of the bulker owner's shares

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JUNE 23, 2023

Controversy swirls over shipping stocks that sink as rates rise Concerns over highly dilutive share offerings by microcap shipowners have been building for years. The debate just intensified. ASL Airlines United Kingdom begins flying 1st cargo jet ASL Airlines United Kingdom has two cargo planes in its fleet after receiving a Boeing 737-800 converted freighter.