Fatigue seen as cause of OSV strike on production platform A company's failure to adhere to the 12-hour work limit set in its Fatigue Management document is seen as the probable cause of an offshore supply vessel strike on an oil and
American Jazz heads for California via the Panama Canal American Cruise Lines reports that its modern riverboat American Jazz is repositioning from the Mississippi River to the West Coast for new California river cruises. Beginning in February 2023, they will be
MPC Container Ships lines up synthetic MDO supply Oslo-headquartered MPC Container Ships (OSE: MPCC) has signed an agreement that will see it take deliveries of synthetic Marine Diesel Oil (MDO) from Karlsruhe, Germany, based INERATEC GmbH, starting in 2024. The
GAO warns of challenges ahead for Columbia class program The Navy has long stated that the Columbia-class ballistic missile submarine program is its highest shipbuilding priority. The Columbia class will replace the Ohio class submarines that currently provide the sea-based leg
MABUX reports that global bunker indices are on the rise Over the fourth week of the year, Marine Bunker Exchange (MABUX) global bunker indices continued a sustainable upward trend. The 380 HSFO index rose by US$9.14 to US$491.02/MT, the VLSFO index added US$19.98 USD reaching US$719.15/MT and the MGO index also increased by US$35.37 to US$1,073.92/MT. "At the moment, the global bunker market retains the potential for a further uptrend," commented a MA
Moody's upgrades DP World's ratings Moody's Ratings Agency has raised DP World's ratings in a major statement of confidence in the port operator's business and future. The upgrade comes on the heels of two large investments in DP World's key UAE properties, the Jebel Ali Port, the Jebel Ali Free Zone, and the National Industries Park, in 2022. The first came from CDPQ, a Canadian investment firm, in May, followed by Hassana, a Saud
MPC Container Ships, INERATEC to explore new alternative fuel for shipping Norwegian boxship owner MPC Container Ships (MPCC) and INERATEC, a supplier of sustainable fuels, have signed an agreement for the supply of synthetic Marine Diesel Oil (MDO) made from biogenic CO2 and renewable hydrogen. The delivery is set to start in 2024. With this agreement, MPC Container Ships kickstarts the transition towards carbon-neutral, synthetic diesel in the shipping sector. "While
Port of Mobile achieves record container year Port of Mobile in Alabama, US reported record container shipping numbers in the previous year, handling 563,191 TEUs, representing an 11% growth compared with 2021 box volumes. Meanwhile, intermodal rail volumes continued a 31-month record of triple-digit growth, ending the year with a 142% increase over 2021. Additionally, the container terminal handled a record 312 vessels, translating to an in
Port of New York and New Jersey between the two California giants The Port Authority of New York and New Jersey has announced its container volumes for the month of December 2022, as well as for the full year of 2022. A record total of nearly 9.5 million TEUs throughout the year was noted for the first time in the port's history. In particular, the major US port handled a total of 9,493,664 TEUs during the last year, representing an increase of 27% from pre-pan
Wan Hai closes US$32 million demolition sale deal Wan Hai Lines has apparently gotten over US$32 million after finalising the demolition sale of 10 elderly boxships, as the recycling of container vessels accelerates. Ship brokers report that after an open tender , the Taiwanese liner operator has sold four 1,088 TEU 160-type ships built between 1996 and 1998, as well as six 1994-built 200-type ships with a box capacity of 1,368 TEUs. These are t
Deadly fall from container ship at the port of Los Angeles A dock worker lost his life at the port of Los Angeles after a fall from the superstructure of a container vessel onto the deck below, approximately 15 metres high. The Los Angeles Fire Department (LAFD) said that firefighters arrived on the scene and found there was no confined space rescue or physical extrication required. According to LAFD's announcement, firefighters and paramedics initiated
FlexCold announces expansion of Jacksonville facility FlexCold, a cold storage warehousing company, will expand its facility in the port of Jacksonville (JAXPORT), located in Florida in the United States. The facility is the first one of the company and the planned expansion is expected to more than double the overall building footprint to over 32,500 m², bringing the total number of pallet positions to 55,000, up from the initial 25,000 positions.
NYK Group Europe appoints new president and CEO Svein Steimler, the current president and CEO of NYK Group Europe, will retire on 31 March 2023, and will afterward join the company as a special advisor. Carl-Johan Hagman will succeed Steimler as president and CEO of NYK Group Europe. "I promise to do my best to contribute to the company's continued success in its vital mission of helping cargo owners transition to sustainable, resilient and ev
The amazing challenge of digital transformations - written by Maersk's CTIO Navneet Kapoor, chief technology & information officer of Maersk, has written the following opinion piece describing the challenge of digital transformations - and why many companies struggle with it. ------ In recent decades, technology and digitization have changed our society. It has changed how we communicate with each other and how we behave as consumers. Technological advances have had such
Torm confirms $233m LR1 play Denmark's Torm has confirmed picking up seven secondhand LR1 tankers in two separate deals, as widely reported by brokers earlier this month. The New York and Copenhagen Nasdaq-listed product tanker owner said it had purchased the Korean and Chinese-built ships for $233m in cash, lifting its fleet to 85 on a fully delivered basis. The ...
Diana Shipping takes reduced rates for new panamax fixtures Greek bulker owner Diana Shipping has secured employment for two of its ships at lower rates that should bring in no less than $10.68m. The New York-listed firm has extended its time charter contract with Aquavita International for the 2014-built panamax at $13,250 per day. The Semiramis Paliou-led owner of 42 bulkers on a fully ...
Maersk Supply Service picks up Brazilian contract Denmark's Maersk Supply Service has sealed a deal with TechnipFMC for the towing and mooring campaign of Petrobras's Búzios 6 project in the Santos Basin pre-salt area offshore Brazil. The scope covers the pre-installation of the mooring system and hookup of the P-78 floating production storage and offloading (FPSO) unit, which will be the seventh ...
Turkish powerships move a step closer to supplying Ukraine Turkey's Karpowership has moved a step closer to supplying electricity to Ukraine via its floating power plants, known as powerships. Karadeniz Holding's subsidiary has signed a memorandum of understanding with Ukrainian state-run trader JSC Energy Company to develop and finance the implementation of 500 MW, enough to power over 1m households. Karpowership, which owns and ...
MPC Container Ships backs new alternative fuel for shipping Shipping has a new, alternative fuel from Germany to investigate. MPC Container Ships and Karlsruhe-based INERATEC have signed an agreement for the supply of synthetic marine diesel oil (MDO) made from biogenic CO2 and renewable hydrogen, with delivery set to start in 2024 to replace conventional fossil fuels used today by existing vessels. "While there ...
Port of Cromarty Firth seals monopile marshalling deal for Moray West wind farm Port of Cromarty Firth has been selected for the marshalling of all 62 monopiles for the 882 MW Moray West offshore wind farm being developed by Ocean Winds, a 50/50 joint venture owned by EDP Renewables and Engie. Under a multi-million pound contract Moray West will use the recently expanded facilities at Invergordon for this ...
Allseas secures work on German North Sea wind converter platforms Marine construction specialist Allseas has won a contract to install the high voltage direct current (HVDC) converter platforms for the DolWin4 and BorWin4 offshore grid connection projects in the German North Sea. Awarded by Dragados Offshore, the deal covers the transport and single-lift installation by the 2014-built heavy lift vessel of two 900 MW converter ...
Liner shipping digests the news of the 2M divorce Liner shipping has had 24 hours to digest the "bombshell" news that the world's two largest containerlines are to dissolve their 2M alliance within the next two years, something that paves the way for enormous changes in the global liner hierarchy. In a joint statement yesterday, Vincent Clerc, the new CEO of A. P. Moller ...
Bid launched to take GasLog Partners private Peter Livanos-controlled GasLog has launched a near $400m bid to take New York-listed GasLog Partners private. Combined, the two entities would have a fleet of 38 LNG carriers. Privately held GasLog is offering $7.70 per unit in the unsolicited non-binding proposal for the nearly 70% of the common units it does not control to take ...
Jalship Management buys first tanker Indian takers of vintage tankers are increasing. This week sources tell Splash that Jalship Management has bought its first suezmax, the , from Greek outfit Westport Tankers for $49m. Westport had bought the ice-class, 2006-built ship just five months ago for $31m. Ice-class tankers have led the way in S&P this month with stunning prices ...
Bangladesh's HR Lines dives into the secondhand market Bangladesh's HR Lines has ditched newbuild plans in favour of the secondhand market. Alphaliner reports that Karnaphuli Group, the parent of HR Lines, has recently bought the 1,092 teu Maersk Arun, now renamed HR Tuareg, and the 1,620 teu SITC Bangkok, which will be renamed HR Balu. The two ships take the HR Lines fleet ...
Nuclear power for shipping; understanding the opportunity in context Refreshed technologies hold promise in addressing shipping's clean energy needs, but solutions won't emerge in the short term, writes Patrick Ryan, a vice president at ABS. Using nuclear power to propel ships is not a new concept, but the intense interest in commercial maritime decarbonisation is pushing curiosity around the topic to new heights. This ...
Freeport LNG completes repairs at Texas plant after June fire, moves to begin restart process Freeport LNG, whose Texas liquefaction plant on Quintana Island, Texas, was closed after a fire on June 8 caused significant damage, has asked US regulators for permission to begin restarting the facility. The company is looking "to commence cool down of its Loop 1 transfer piping and reinstate the facility's boil off gas management compressors and associated piping," it ...
California lawmakers introduce federal bill to permanently ban offshore drilling along US Pacific coast Two Democratic members of Congress from California - Senator Dianne Feinstein and Representative Jared Huffman - have introduced the West Coast Ocean Protection Act in their respective chambers, legislation intended to permanently ban oil and gas drilling in federal waters off the coast of
US imports at near record levels last year amid eastward shift East and US Gulf coast ports benefited at the expense of their west coast peers, handling growing imports volumes throughout...
Barbados defends flagging US-sanctioned tanker The VLCC Saint Light, formerly Young Yong, found refuge at the Barbados flag after it was added to a US...
GasLog Partners unveils sharp increase in profits Partnership says $16.8m jump in fourth-quarter revenue is mainly due to stronger earnings in spot and short-term market
Correction: Ownership of Smooth Sea 22 and Smooth Sea Co. Ltd.
Star Bulk not ready to commit to alternative fuels Company not planning to order any alternative dual-fuel vessels soon, says chief financial officer
Hunter says it has delivered on promises Norwegian company has agreed to reward shareholders in two payments
China to rescue dry bulk market by 2023's second half China, the biggest global driver of bulk demand, is expected to rebound and lead a recovery in bulk carrier rates
Columbia Shipmanagement takes holistic approach to wellbeing Ship operators are struggling to attract quality seafarers, who now ask about health and wellbeing support
2M split driven by strategic differences between Maersk and MSC Much has changed in the strategic direction of both companies since the 2M alliance was first discussed in 2014. Those...
Torm confirms purchase of seven LR1s Danish tanker owner has confirmed it agreed to buy three long range one tankers as well as four vessels purchased...
Maersk's new business strategy 'won't work', says Drewry Maritime consultancy assesses Danish line's new corporate strategy as a global integrator of container services
Port of New York-New Jersey sees imports softening after a record year Port director Bethann Rooney says volumes will remain soft in the next six months. She urges the supply chain to...
CIMC expects up to 55% drop in full-year earnings as box-making business slows Demand for containers has returned to normal from the record high level during the pandemic-led market boom, says company
NYK names Kono as finance chief in management reshuffle NYK executives have been promoted while changes have been made on the key personnel in financial, technical, dry bulk, energy and...
Truckers urge single appointment system across Southern California port complex As federal and state laws aim to make per diem charges more transparent, California trucking groups say a unified appointment system across the Los Angeles and Long Beach port complex would go a long way toward that goal.
Bridge repair along UP's LA/LB-Midwest network nearing completion The approximately 72-hour repair on a bridge in New Mexico would appear to mitigate what could potentially have been a major disruption for UP's international and domestic intermodal shippers.
Consistent vessel service key to Port NOLA cargo recovery: officials After a 2022 in which skipped calls dragged down volumes at the Port of New Orleans while neighboring Gulf Coast gateways saw booming import growth, officials are hoping a return to steady vessel schedules will help entice shippers back to the port.
Freightos makes its New York debut following Spac merger Booking and payments platform raises $80m in its public listing on Nasdaq
Diana Shipping sees lower rates on two charters set to fetch nearly $11m Athens-based owner plans to continue fixture with Aquavita International and start new charter with Cargill International
Wind shift? Strong rates on new Eneti contracts could check disposal plans Clarksons Securities was surprised by the strength of fixtures revealed this week
Investors bet on long-term shift out of Russian oil trades Changes to European security policies set to lift tanker prospects for years to come
Livanos may need to bump up offer to roll up GasLog and GasLog Partners Take-private offer is low, but market observers disagree on how low and if a competitor could emerge
'Alternative' ship finance matures, but is cut-rate pricing a risk? Non-traditional sources of finance are becoming a staple of the industry, but are these new players storing up problems for the future?
Eco shock: green fuels will not beat fossil fuels on price until 2040, MSI warns Analyst Adam Kent says action needed to make sure owners adopt alternative bunkers early
Banks scrutinise owners' green credentials before newbuild investments Cooling of newbuild market has encouraged banks to dig deeper into prospects for retrofitting older ships
Karpowership inks deal with Ukraine to explore floating electricity supply Companies mulling siting units off Moldova or Romania for link up with Ukrainian grid
Star Bulk protected from downside by scrubber premium of up to $7,000 a day CFO Christos Begleris explains how Greek owner stays ahead of the competition
Torm confirms LR1 buys, snatching seven ships for $233m Danish owner nearly doubles its LR1 fleet
GasLog Partners outlines plan for steamship-to-FSRU conversion for Australia job Company ducks Q&A session on results briefing call following buyout bid from GasLog
Dry bulk 'the best trade of 2023', says Clarksons Securities Get ready for the 'Chinese dragon' to be unleashed, analyst tells Marine Money London
Hungry Star Bulk on the hunt for fleets and finance, CFO says Christos Begleris reveals what will be keeping Greek bulker giant busy in 2023
Venezuela faces long road back as it freezes crude exports for contractual reviews Shipbroker believes the country is as far away as ever from being a growing source of tanker demand
Greeks and Turks rule the roost in the UN-led Ukraine grain trade Neighbours account for two-thirds of all trips and cargoes shipped under the Black Sea safe corridor
Is diversity always a good thing? Maybe not if you're talking about shipping stocks Streetwise takes a look at the debate between public 'pure play' listings and those owners who want their fleets to look more like a diner menu
GasLog Partners conflicts committee to review buyout offer from parent Strong market helps company lock in term charters at 'attractive rates' during 2022
Anglo American's first LNG-fuelled capesize bulker delivers iron ore to China Bulker is the first of 10 LNG-fuelled chartered ships that will help miner reduce carbon footprint
Maersk Broker beefs up on LNG with two key new hires for 2023 Former Clarksons chartering specialist and ex-Novatek Gas & Power shipping head in Asia join team
Container rates are 'like a fighter aircraft that has been shot down' Collapse in demand presents lines with a huge challenge, while Maersk is the loser from break-up of alliance with MSC, says veteran analyst
Demand can handle the orderbook, says car carrier boss Leif Hoegh A lost generation of investment is facing a revolution in the personal car market, so the car carrier boom is not over yet, believes Leif Hoegh
Chinese buyers snap up chemical tankers in more subdued markets Analysts note rate softening this year, but fundamentals looking good for another uptick
Clan clients hunt bulkers and MPP tonnage for Russia trade A steady accumulation of vessels for Russian trading grows new Istanbul-based company
UK-based Russian owner Rostrum builds fleet in East-West dry trades Quiet owner emerges with one fleet in the UK and Germany, and another in Bulgaria and Turkey
Purus Marine brings in BW LPG's Pontus Berg as fleet boss Experienced executive will run commercial and technical management division
Landmark Poseidon Principles report shows insurers' portfolios failing to meet climate targets Group of eight major players are 12.7% above alignment with 2050 decarbonisation goals
The Odd Couple split: MSC and Maersk end 2M alliance More questions than answers emerge from decision by the two biggest container carriers to disband their vessel-sharing partnership in 2025
Hunter says 'stay tuned' for next move as it reveals final profit from VLCC fleet Norwegian group plotting further shipping investments after useful fourth-quarter earnings
Russian crude transfers hit high in Mediterranean as Europe cracks down Chinese and Dubai-based operators dominate trade off Mediterranean locations in new-look Russian trades
Vessel risk: RightShip launches 'task force' to guide ports Vetting platform will use data from owners and charterers to help terminals on safety and decarbonisation
Private equity firm offloads stake in Indian terminal operator to Hapag-Lloyd German liner operator expands terminal footprint and also agrees to participate in capital increase
American Airlines' cargo revenue tops $1.2B despite market slide American Airlines generated strong cargo sales in 2022 even as market conditions deteriorated.
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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