Is "dead" Russian admiral Viktor Sokolov alive? Russia's Defense Ministry has released video purporting to showing the Commander of Russia's Black Sea Fleet, Admiral Viktor Sokolov, participating via a video link in a Russian Defense Ministry board meeting, said
Callan Marine wins $102.89 million Corpus Christi dredging contract The Galveston Engineer District (SWG) has awarded Callan Marine Ltd., Galveston, Texas, a $102,896,306 firm-fixed-price contract for pipeline dredging. Bids were solicited via the internet with three received. Work will be performed
Gulftainer strengthens ties with freight forwarders in South China Gulftainer held a significant meeting with key traders and freight forwarders in Shenzhen, China reinforcing its desire to strengthen trade and logistics ties with South China's dynamic freight forwarding community. The Shenzhen International Freight Forwarders Association and the Qingdao Logistics Network attended the meeting, which introduced them to Gulftainer's value proposition in its flagsh
Port of Rotterdam, Yokogawa launch study to increase energy and resource efficiency across industries The Port of Rotterdam Authority and Yokogawa Electric Corporation have launched a feasibility study to increase cross-industry integration for the efficient use of energy and utilities in the Rotterdam industrial cluster, with the objective of contributing to ambitious regional decarbonisation targets. A preliminary scan revealed that optimising the use of electricity and utilities across busines
Kinimatic strengthens US network Kinimatic, an agile US warehousing and fulfillment service platform, announces the acquisition of approximately 150,000 square meters of premium warehouse space in 14 locations between Laredo and Pharr on the southern Texas border. This increase is being driven by the expanding trend of nearshoring between the United States and Mexico, which is increasing demand for cross-border freight operation
RightShip unveils port and terminal risk management solution RightShip, Environmental, Social and Governance (ESG) focused digital maritime platform, has unveiled PortRISK, an innovative new risk management solution aimed at transforming operational efficiency and decision making for port and terminal operators during vessel pre-arrival preparations. Built using RightShip's maritime vessel, incident, and company database, PortRISK provides a comprehensive
Japanese shipping firms partner to establish global liquefied hydrogen supply chain Japan Suiso Energy (JSE) and three Japanese shipping companies, Kawasaki Kisen Kaisha (K LINE), Mitsui O.S.K. Lines (MOL), and Nippon Yusen Kabushiki Kaisha (NYK), have agreed to join JSE Ocean (JSE Ocean), a subsidiary of JSE. In particular, JSE remains the majority shareholder with 50.2%, while the shipping companies hold 16.6% each. Also, Japan's Basic Hydrogen Strategy, revised by the Japanes
Hapag-Lloyd increases rates from India to Africa German box line Hapag-Lloyd announced a new General Rate Increase (GRI) from India to Ghana and Nigeria for cargo transported in 20' and 40' dry containers, including high cube equipment. The Hamburg-based ocean carrier said the GRI will be US$100/container from Mundra, Nhava Sheva and Hazira in India to Tema in Ghana and Lagos (Apapa / Tin Can Island) in Nigeria. The rate increase will be applic
Port Houston handles over 2.5 million TEUs in 2023 Port Houston reported that total container volumes for the year have reached 2.5 million TEUs from January to August. The US port handled 2,510,162 TEUs, a 4% decrease from the same period last year. Due to a relatively balanced market of import and export demand, year-to-date empty container volume is down 17% with Port Houston handling 307,624 TEUs in August, a 20% reduction from the same month
NYK Line selects Marlink to equip its fleet with smart hybrid network Japanese shipping company NYK Line has chosen Marlink to equip its own fleet with a smart hybrid network. Marlink will use its experience operating Starlink and other high-capacity LEO internet systems inside an existing smart hybrid network to boost crew wellness. Following the successful assessment of Starlink on two vessels in 2022, NYK Line selected Marlink to integrate LEO services as part o
Japan-US container trade continues to decline According to Descartes Datamyne, Japan's US-bound container exports totalled 48,372 TEUs in August (based on volumes at ports of origin), a 7.2% decline from the same month in 2022. For the sixth month in a row, Japan to US box exports have continued to fall year on year. Containers carried straight to the United States accounted for 32,256 TEUs, up 11.9% from the previous year, whereas those tra
DB Schenker opens new branch in Norway DB Schenker opened a new terminal in a central location at Bergen Flesland Airport. The 185,155 m² plot houses a state-of-the-art logistics center with 7,000 m². In particular, large parts of the area are dedicated to freight handling. The building and operation are largely self-sufficient in electricity through solar panels on the roof, which incidentally is also green. Additionally, the buildin
Pan Ocean sells ships to raise war chest for HMM bid South Korean shipping group Pan Ocean is reportedly selling ships to raise funds to help its parent Harim Group bid for flagship box carrier HMM. So far, Pan Ocean has sold 10 ships this year, consisting of six chemical/products tankers, four bulk carriers, raising around US$132 million. Sources from South Korea's investment banking sector told Container News that Pan Ocean is pursuing the sale o
HMM upgrades Intra-Asia Cross Network service Major South Korean shipping line HMM announced the expansion of ICN (Intra-Asia Cross Network) container service. Starting on 9 October, HMM's renewed ICN service will provide a convenient shortcut, seven-day route from Busan in South Korea, to Jakarta and Surabaya in Indonesia. The ICN service cross-operates in two routes: String 1 calling at Busan (South Korea) - Shanghai (China) - Ningbo (Chin
Peel Ports joins Sedex UK-based port operator Peel Ports Group announced that it will join Sedex, a supply chain sustainability data, insights and services company. As part of this commitment, Peel Ports Group will now be part of a global collaborative platform, connecting buyers, suppliers, and auditors. This platform enables organisations to share and access essential data related to supplier ethical and sustainable
CMA CGM revises low water surcharge in Brazil French ocean carrier CMA CGM reported that the Amazon River's navigability conditions are not improving and as a result, has revised the Low Water Surcharge (LWS) on any cargo from/to Manaus, Brazil. The Marseille-based container line said the updated surcharge will be US$1,100/TEU and will be effective from 25 September until further notice. The surcharge will be applied to all types of cargo fo
Castor offloads kamsarmax as previous panamax sale falls through Cyprus-based bulker and boxship owner Castor Maritime has sold one of its kamsarmaxes while a deal to sell another ship that was announced in April has collapsed. The Nasdaq-listed firm is shipping out its 2009-built during the fourth quarter for $15.75m. The deal should bring in a net gain of approximately $3m, excluding transaction-related costs. ...
Enova grants Viridis $14m in funding for ammonia-powered bulker duo Norwegian government enterprise Enova has decided to grant NOK 152m ($14.1m) to Viridis Bulk Carriers for the construction of two ammonia-powered bulk carriers. Viridis Bulk Carriers expect to place orders for the two ships near the end of 2023, with deliveries starting in 2025. The two ammonia-powered bulkers, designed by Kongsberg Maritime, will have a ...
IEA sees ammonia as shipping's go-to solution for reaching net zero by 2050 The International Energy Agency (IEA) said in a 2023 update of its 'Net Zero by 2050' report that shipping will primarily turn to ammonia to decarbonise the sector. The 'Net Zero by 2050: A Roadmap for the Global Energy Sector' report was published in 2021. It translated the goal of limiting global warming to 1.5°C ...
Vehicles melt as Russia ups its targeting of Ukraine's ports The Russian military is pounding Ukrainian ports hard this week. Following very damaging strikes on the port of Odesa early on Monday morning, Russia then turned its attention to the Danube river port of Izmail last night with many drone strikes. A port building, storage facilities and more than 30 trucks and cars were damaged ...
DDW Offshore taps EnTrust Global for $31m fleet refinancing Norway's DDW Offshore, a subsidiary of Akastor, has secured a new refinancing deal that will see the company take control of two ships, reactivate another, and stretch debt maturity into September 2026. The company has arranged a $31m loan with alternative shipping financer EnTrust Global via its "Blue Ocean Funds". The deal is guaranteed by ...
Grindrod seals deal to buy Taylor Maritime Group shipmanagement units Singapore-based bulker owner Grindrod Shipping has reached an agreement to acquire two shipmanagement companies from Taylor Maritime Group. The Ed Buttery-led firm is to take over Taylor Maritime Management and Tamar Ship Management in a $11.75m cash and shares deal. Following the acquisition, which is expected to occur before mid-October this year, the companies will ...
AI: a hot air balloon? For his monthly column, Pierre Aury gives readers his thoughts on artificial intelligence. After a lazy August column we feel like elevating things: it's time to revisit the topic of artificial intelligence. Well at least we might avoid death by an overdose of articles on CO2 emissions ...although no doubt AI, being so powerful, will ...
MOL, NYK and K Line join forces to develop hydrogen carriers Japan's three largest shipowners are joining forces with Kawasaki Heavy Industries and industrial gas firm Iwatani Corporation to develop hydrogen carriers together. Mitsui OSK Lines (MOL), Nippon Yusen Kaisha (NYK) and Kawasaki Kisen Kaisha (K Line) are each taking a 16.6% in new firm JSE Ocean, designed to quickly build up Japan's maritime hydrogen supply ...
Boxship capacity growing at fastest pace on record With nearly a container newbuilding scheduled to deliver daily for the rest of the year, brokers Braemar have warned this week it remains difficult to anticipate where the demand should be coming from to overcome the current supply situation. According to analysis from Asia-based consultancy Linerlytica, the pace of the growth of the box fleet ...
250,000 seafarers' pay boosted by 6% Seafarers' unions and maritime employers have signed a four-year agreement that will see wage increases and dozens of workplace protections and improvements for over 250,000 seafarers' serving on more than 10,000 vessels. The International Bargaining Forum (IBF), the forum that negotiates the world's largest global collective bargaining agreement, agreed terms for the 2024-2027 IBF Framework ...
Tugs ready to try and move grounded Canadian cement carrier Two tugs are ready to try and move the , a cement carrier belonging to Nova Marine Carriers, which grounded on a tricky part of the St Lawrence river on Sunday morning, bringing ship traffic to a halt in the intervening two days. The ship has developed a list to port. Having veered off the ...
Castor to seek compensation following botched panamax sale A $13.95m sale announced in April that was slated to net Nasdaq-listed Castor Maritime $5.3m is off after buyer failed...
Box volumes fall in Savannah but remain solidly above prepandemic levels Operating capacity in the port of Savannah fell in August as the port was rebuilding several berths, Georgia Port Authority...
Norden chief executive says asset-light strategy keeps it profitable amid bulker rates slump Norden attributes its business model that embraces freight trading over vessel ownership to combined profits of more than $1.3bn since...
Norway funds ammonia and hydrogen ship projects Norway's climate fund Enova announced its most recent grant winners in the maritime sector, as the Norwegian government ramps up...
Danaos continues deep dive into dry bulk with move for capesize brace Second of new acquisitions is understood to remain subject to certain inspections
Russia's Danube offensive is failing to dent Ukraine exports Russian drone attacks targeting Ukraine's Danube exports have cut capacity and added pressure to a supply chain already struggling with...
Gram Car Carriers chief calls sector 'boring' Whist suggests it'll be hard for the EU to curb electric vehicle imports from China. He also described China's fast-expanding...
Miller open to enquiry on Ukraine war risk cover Vessel tracking will let underwriters monitor exposure despite Russian threat to treat merchant shipping as military targets
Flood of newbuilding capacity bites at boxship charter market Almost 190 containerships with a combined capacity of 1.4m teu have been delivered since January 2023, according to Lloyd's List...
China's Cinda Leasing emerges as lender for Hengli's first VLCC order Deal will significantly boost Cinda Leasing's shipping portfolio that previously stood at $120m, according to the latest available data
China unveils standards for methanol as marine fuel Cosco Shipping's bunker service provider launched two standards for methanol fuel in another step towards using the chemical as marine...
Russian diesel ban and Europe's gasoil shortfall to push demand for product tankers higher Seaborne flows of middle distillates to recalibrate yet again if Russia's diesel ban extends through October
Japan's three shipping giants team up to carry liquefied hydrogen The trio plan to put the first large-scale LH2 carrier in operation by 2024
Maersk Line to offload USMMI tanker business to Jones Act owner Maritime Partners Second expansion into the tanker market by Maritime Partners sees Maersk Line leave the US-flag tanker space, citing USMMI's ownership...
Daily Briefing Carriers struggle to contain costs | Chinese container executives warn of slower growth | Winter rally arrives for VLCCs as...
Seacor sells harbour-towing operations and assets EN Bisson & Son to take over 12 vessels in Florida and Alabama, while Bay-Houston will acquire eight vessels operating...
IEA net zero scenario sees limited methanol uptake in shipping The IEA's report estimates a 1% uptake of methanol in shipping by 2035 in its net zero scenario, as it...
Inland23: Industry not holding its breath for immediate freight recovery A muted peak and post-peak season for imports and intermodal activity has shippers and service providers eyeing a freight rebound no earlier than late 2024.
Aggressive trans-Pac blank sailings likely through Lunar New Year amid freight downturn: sources For importers and forwarders, the blank sailings mean the resulting schedule disruptions and "rolling" of cargo they are already experiencing at Asian load ports will force them to book more of their cargo with carriers they can count on to maintain schedule integrity.
Inland23: Pandemic yields rise in US truckload thefts Solar panels and energy drinks are among the top targeted goods for truckload theft, with major markets such as Los Angeles, Houston and Chicago particularly ripe for those crimes.
Castor seeks compensation after buyer fails to take delivery of bulker Panamax Magic Moon left on the shelf as March purchase falls through
Capesize rates leap 11% in a day to new four-month high amid China's hunger for iron ore and coal China's steel output for August is up 3.2% from a year ago, analyst notes
'They're going to need wind': Wingsail maker AYRO raises €19.2m funding and names new CEO Wind propulsion tech company to use cash to scale up production and build commercial team
'Shipping is back on the map' for banks and other lenders Industry has made headlines and banks are again making a strategic commitment to sector, TradeWinds Shipowners Forum hears
Insurer Shoreline launches policy to protect crew under US Marpol detention Law firm Chalos & Co also involved to provide legal representation
Russia starts shipping LPG from Crimea after eight-year gap Producers moving out small cargoes from annexed region
Sweden's Stena seeking bond sale to pay off 2025 maturity Tanker, ferry and LNG carrier group aiming to tap into hot debt market
Consumer crackdown to market-based measures? Wikborg Rein attorney mulls next generation of shipping rules Andreas Fjaervoll-Larsen says shipping will be hit with more technical regulations in the coming years
Norwegian government splashes cash on ammonia-powered bulkers with Viridis, bunkering with Yara A total of NOK 240m in grants backing ammonia-fueled shipping were announced on Tuesday
Columbia launches rehabilitation centre project for Ukraine seafarers Ship manager hopes to get other maritime companies on board to help seafarers and their families deal with post-traumatic stress
Ammonia to lead shipping's charge to net zero by 2050, says global energy agency Report says ammonia will have nearly half of fuel market share by 2050 if industry is to hit climate goals
Green Instruments: Let's start actually measuring harmful ship emissions and collecting accurate and concrete data Morten Brandborg, CEO, Green Instruments
Financiers must share in shipping's green transition risk, says MISC boss Rajalingam Subramaniam Right now they are not doing enough, says Malaysian shipping giant's outspoken president and group CEO
Ship size is going to matter for ammonia's limitations, designers say Naval architects argue bigger vessels will have an advantage by being able to house large fuel tanks
Director pay and dividends down as Tufton Investment Management profit shrinks Tufton group fund manager also saw revenue dip in 2022
TEN's Nikolas Tsakos says fuel choice is like a Covid jab - difficult to know which one works best Shipping is in a confused state about how to get greener but it has faced similar challenges before, Greek owner argues
Viewpoint: Are maritime headlines inducing colour blindness over methanol? SEA-LNG chairman Peter Keller says that the hazy lexicon used to debate future fuels is hampering progress
Tributes paid to ex-Teekay chairman Sean Day, 'the smartest guy in the room' Shipping exec lived a life of adventure, family and philanthropy
Italian shipbuilder Fincantieri bags $847m sustainability loan Funding linked to shipbuilders ability to reduce emissions and develop energy efficient cruise ships
Alex Vullo to lead Gallagher's P&I team after Malcolm Godfrey departs Changing of the guard at one of shipping's largest marine insurance brokers
Japan's 'big three' shipping companies team up to supply liquid hydrogen Japan aims to supply 3m tonnes of hydrogen per year by 2030 and 20m tonnes by 2050
Financiers must share the risk on shipping's green transition, says MISC boss Rajalingam Subramaniam Right now they are not doing enough, says Malaysian shipping giant's outspoken president and group CEO
ICS head Emanuele Grimaldi urges talks, not trade wars, and warns against 'American dreams' Shipowner says there are no differences between trading blocs that cannot be resolved by negotiation
Torm and Norden tankers call in Mexico three years after Vitol bribery ban Product carriers transported cargoes to two ports for trading giant
Shipowners blast upcoming EU ETS as 'a tax on maritime trade' International Chamber of Shipping's Simon Bennett expresses concerns over regional regulation in Shanghai speech
Investors exposed by red-hot VLGC rates, but market well-supported, Gersemi's Joakim Hannisdahl says Norwegian fund supremo has sold his position in listed gas carrier companies after FFAs dropped
KCC opts for air lubrication as part of 'wave' of energy-saving retrofits Norwegian owner becomes one of the first tanker or bulker owners to fit Silverstream system
Ammonia to lead shipping's charge to net zero by 2050, says IEA Report says ammonia will have nearly half of fuel market share by 2050 if industry is to hit climate goals
Kjell Inge Rokke's Akastor taps EnTrust Global to refinance and reactivate offshore ships Norwegian operation's subsidiary DDW Offshore agrees new $31m loan package
Genco Shipping bulk carrier hits anchored Zeaborn handysize in Black Sea Minor damage was sustained in an incident at anchorage off Constanta
Greece's Evalend Shipping pockets around $60m from sale of VLGC newbuilding pair Newbuilding pair scheduled for delivery next year
Tankers may be heading for 'never-ending' winter market next year, Joakim Hannisdahl says Norwegian fund Gersemi goes 'all-in' on very promising crude and product investment
Grindrod buys private Taylor Maritime Group ship management operations Chairman Kurt Klemme says move will boost revenue as his firm continues to integrate with listed Taylor Maritime Investments
Hanwha wins arbitration case against Fredriksen over cancelled drillships Oslo-listed company says it may appeal over tribunals decision to find in favour of former Daewoo yard
Container shipping has a Europe problem and it's getting worse Inflation and economic fallout from the war are curbing demand just as a tidal wave of new ship supply hits the water.
Atlas Air snags ex-Etihad cargo chief for C-suite role Another top-level cargo executive for a Middle Eastern airline has found a new job. Atlas Air, which leases and flies cargo and passenger aircraft for airlines, logistics companies, sports teams [...]
DHL relocates A300 freighters to Europe for better sustainment DHL is moving its A300 fleet from Asia because the region doesn't have sufficient aerospace support services for the aircraft.
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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