Spirit of Boston fire: USCG convenes marine casualty investigation The Coast Guard has convened a formal marine casualty investigation into a fire that occurred Friday evening aboard the small passenger vessel Spirit of Boston. Rear Adm. John Mauger, Coast Guard First
Japan's largest WTIV features first-of-its kind telescoping crane Recently delivered by the Japan Marine United (JMU) shipyard to Shimizu Corp., the GustoMSC designed and equipped offshore wind turbine installation vessel Blue Wind is Japan's largest WTIV to date, and will
Next Celebrity Edge series cruise ship will be methanol capable When Royal Caribbean Group's Celebrity Cruises introduces the fifth ship in its Edge Series, it will be methanol capable - equipped with a new engine model, along with storage and delivery systems
Acquisition consortium completes Atlas takeover Poseidon Acquisition Corp. has completed the previously announced takeover of Atlas Corp. , the parent company of Seaspan. That means that the acquisition consortium, formed by certain affiliates of Fairfax Financial Holdings Limited, certain affiliates of the Washington Family, David Sokol , chairman of the board of Atlas, Ocean Network Express (ONE) and certain of their respective affiliates, h
World Shipping Council defends vessel-sharing arrangements The World Shipping Council (WSC) released a statement supporting the use of vessel-sharing arrangements (VSAs), which are being phased out under a new US law. The new U.S. law H.R. 1696 intends to eliminate these arrangements, thereby undermining competitiveness and option for liner transportation services, according to WSC. "Nobody has offered a reason why we should throw away such a useful tool
IMO to develop updated plan for shipping greenhouse gas emissions cut An International Maritime Organization (IMO) working group has gone forward in developing the draft 2023 IMO Strategy on the reduction of greenhouse gas (GHG) emissions from ships. The meeting of the Intersessional Working Group on Reduction of GHG Emissions from Ships lasted four days, from 20 to 24 March, with more than 750 registered participants from nearly 80 IMO Member States. The topics of
AD Ports Group's revenue and profit skyrocket AD Ports Group announced increased revenues in 2022, reporting a year-on-year 41% spike and reaching US$1.5 billion, while the company's total net profit grew 51% and climbed to approximately US$350 million. As part of its development plan, the Group signed seven merger and acquisition transactions totalling US$1.6 billion in 2022. According to Oxford Economics, AD Ports Group's fully integrated
Hapag-Lloyd revises West Africa network Hapag-Lloyd will commence a new container service, called West Africa 1 (WA 1) Service, with a fortnightly frequency, connecting Tanger Med, Nouakchott, Freetown, Conakry and Monrovia. The first sailing is scheduled for 15 May and the German shipping line is going to be represented by third-party agents in these ports. WA1 Service will have the following port rotation: Tanger Med, Morocco - Nouak
Advisors appointed for HMM sale Samsung Securities has been appointed to manage the sale of the South Korean government's shares in HMM, while Samil PricewaterhouseCoopers and law firm Lee & Ko will be the accounting and legal advisors for the process. The appointments come after HMM's two largest shareholders, Korea Development Bank (KDB) and and Korea Ocean Business Corporation (KOBC), announced on 2 March that they would beg
Hapag-Lloyd upgrades Oceania-North America service Hapag-Lloyd announced an update on North America Westcoast - New Zealand - Australia (WSN) service. The German ocean carrier said the bi-weekly service rotation will be enhanced beginning in late April by balancing the round voyage rotation of both WSN loops. The service will have alternating calls at the ports of Vancouver and Seattle on a bi-weekly basis as the first port call of the North Amer
Petrolesport adds two new reachstackers to its cargo handling equipment fleet Petrolesport (PLP), a multifunctional marine terminal in the Big Port of Saint Petersburg has put into operation two new reachstackers with increased loading capacity. PLP is a part of the Global Ports Group, the largest operator of container terminals in the Russian market by capacity and container throughput. In particular, the new equipment, supplied by major Chinese manufacturer Sany, has a l
DP World Antwerp implements new finger scanning technology DP World has introduced fingerprint scanning technology at the Antwerp Gateway terminal to improve security for container collection. In particular, registered truck drivers can now collect their containers by means of their fingerprints. Additionally, in collaboration with NxtPort, the digital platform of Port of Antwerp-Bruges, DP World has tested the Certified Pick up (CPu) software with Belgi
JAXPORT, Aruba ink agreement to grow business connections During JAXPORT Board of Directors meeting, State of Florida chief financial officer Jimmy Patronis, Aruba Prime Minister Evelyn Wever-Croes, and other dignitaries from the island of Aruba joined leadership from JAXPORT and Eagle LNG Partners LLC (Eagle LNG) to sign a Memorandum of Understanding (MoU). JAXPORT and Aruba are trying to mutually promote business and tourism opportunities between the
Jiangnan Shipyard bags $470m order for LNG duo China's Jiangnan Shipyard has been contracted to build a pair of liquified natural gas carriers in a deal worth $470m. China Taiping Insurance Holdings confirmed the deal in Hong Kong Exchange filing which included its non-wholly owned subsidiary Taiping & Sinopec Financial Leasing (TSFL) and its two special purpose vehicles Taiping 26 and Taiping 27. ...
Equinor extends Transocean semisub contracts Norway Equinor has awarded new contracts to Transocean for harsh environment semisub drilling rigs , mainly in the Norwegian Sea, and , for the Johan Castberg field. The rigs have been on eight-year contracts with Equinor that expire on December 1, 2023 and April 1, 2024, respectively and will be the first contract extension since ...
McDermott secures Shell FEED contract in Trinidad and Tobago McDermott has been awarded a front-end engineering design (FEED) contract from Shell Trinidad and Tobago for the Manatee gas development project. Under the contract, McDermott will provide FEED services for a wellhead platform, export pipeline system, shore approach, midstream pipeline and onshore control room. Engineering and execution planning efforts will be led by McDermott's team ...
Poseidon completes $10.9bn Atlas buyout Poseidon Acquisition consortium has completed a $10.9bn takeover of Seaspan parent Atlas. The consortium, composed of Japanese liner operator Ocean Network Express (ONE), Atlas chairman David Sokol, certain affiliates of Fairfax Financial Holdings and the Washington family, paid $15.50 per share in cash to acquire all of the outstanding common shares of Atlas that it ...
Lomar launches new venture to help bring shipping tech startups into the market UK-based diversified shipowner and manager Lomar has launched a new venture to collaborate with deeptech startups to accelerate the deployment of solutions that address some of the maritime industry's most pressing challenges, including the goal of net-zero emissions. Led by Lomar's technical director, Stylianos Papageorgiou (pictured), lomarlabs has been set up to provide ambitious entrepreneurs
Norsepower scores $30m in fresh funding Norsepower has secured €28m ($30.3m) in investment during its recently concluded fundraising round that should enable the Finnish marine wind propulsion system maker to scale up production and expand the reach of its technology. French asset manager Mirova, an affiliate of Natixis Investment Management, led the fundraising which also included The Finnish Climate Fund, OGCI ...
Monjasa product tanker boarded in Gulf of Guinea After an extended period of comparative calm, a ship has been boarded in the highly risky waters of the Gulf of Guinea. The Liberian-flagged product tanker, , owned by Danish bunker supplier Monjasa, was attacked on Saturday night offshore Congo. The 2003-built 13,700 dwt ship, managed by Montec Ship Management, was sitting idle some 140 ...
Shipbuilders struggle to get out of the red despite multi-billion dollar orders The shipbuilding industry's eternal capability to lose money even when raking in billions of dollars of orders forms a key plank of broker BRS's annual review. The 170-page report, one of the shipping market's must-reads every year, covers all the main segments of the industry. On the shipyard business, BRS stated: "Shipbuilding is not an ...
Helix secures Taiwanese wind farm work Helix Energy Solutions' marine contracting business unit, Helix Robotics Solutions, has secured a deal for the trenching of inter-array and export cables as part of a 640 MW wind farm offshore Taiwan. Under the contract, Helix plans to mobilise its newly acquired T1400-1 jet trenching system in Singapore onboard the before transiting to Taiwan for ...
Himalaya scales up New York IPO Tor Olav Troim-backed Himalaya Shipping, an LNG-fuelled newcastlemax specialist, has upped its proposed initial public offering in New York to $45m from $10m. DNB Markets will act as sole global coordinator, joint bookrunner and representative of the underwriters for the offering. Clarksons Securities will serve as joint bookrunner and underwriter for the offering. A month ...
New Jones Act-compliant autonomous survey vessel revealed US boat maker SAFE Boats International has unveiled an advanced Jones Act-compliant autonomous hydrographic survey vessel fit for work in the offshore wind sector. The company has exclusive rights to build the design at their large-craft production facility in Tacoma, Washington. The 23-m-long vessel was developed in collaboration with maritime autonomy provider Mythos AI, hydrographic ...
Spain cracks down on ship-to-ship transfers Spain is cracking down on ship-to-ship (STS) transfers as its coastline becomes a hotspot for Russian cargoes heading to Asia, often on old, substandard tonnage. From next month tankers looking to carry out STS operations must seek authorisation from the closest Spanish port captaincy. Member states of the International Maritime Organization (IMO) are debating this ...
Mammoet wins two US offshore wind contracts Dutch heavylift and transport specialist Mammoet has clinched contracts for two large offshore wind projects in the US. Both contracts with undisclosed clients start in 2023 and cover a range of port scopes, including the load-in, load-out, handling and temporary storage of XXL monopiles, as well as the pre-assembly of turbines in a US marshalling ...
Liquefied CO2 ship launched in Japan A launch ceremony for a Japanese liquefied CO2 transportation demonstration test ship was held today at the Shimonoseki Shipyard of Mitsubishi Shipbuilding Corporation. At the launch ceremony, participants from related organisations including the Ministry of Economy, Trade and Industry, NEDO (the New Energy and Industrial Technology Development Organization) and the shipowner, Sanyu Kisen were on
Shipping industry can save $50bn through four enablers of operational efficiency A new insight brief series from the Global Maritime Forum has identified four actions that maritime and shipping industries can take now to support shipping's transition to a sustainable and resilient zero-emission future. Maximising vessel and fleet performance through operational efficiency can reduce annual fuel costs by $50bn at today's prices, according to the research. ...
NYK takes control of Mitsubishi Ore Transport Japan's Nippon Yusen Kaisha (NYK) is buying out its partners in a local shipping line, Mitsubishi Ore Transport. NYK will obtain all shares from partners Mitsubishi Corp, Tokio Marine & Nichido Fire Insurance, and Mitsubishi Heavy Industries to make the 17-ship fleet a wholly-owned subsidiary. Mitsubishi Ore Transport's fleet is made up of bulkers, car ...
Meratus launches smart container solution Indonesian container line Meratus, has unveiled its latest innovation, SMARCO-Smart Container. With IoT sensors, GPS tracking, and cloud-based technology, SMARCO allows businesses to have full visibility and control over their container shipments, including real-time monitoring of movement, speed, shock, intrusion, and temperature changes. SMARCO's advanced security system can detect any unauthor
Samsung Heavy debuts chatbot Chatbots, which have been introduced in businesses with customer service work including financial and public institutions, are also being used in the shipbuilding industry. Samsung Heavy Industries has developed SBOT, an artificial intelligence-based chatbot, and applied it to ship design. SBOT provides answers by finding lessons learned, various regulations and and contract information accumulat
World Shipping Council pushes back at American bill seeking to end vessel sharing arrangements The World Shipping Council has issued a statement defending the use of vessel sharing arrangements (VSAs), which a new US bill seeks to end. The liner lobby group believes the lawmakers who introduced the bill misunderstand what VSAs are. "Nobody has offered a reason why we should throw away such a useful tool as vessel ...
Mexico Pacific and Shell sign third long-term LNG sales and purchase agreement Shell Eastern Trading (Pte) Ltd and a subsidiary of Mexico Pacific Limited have signed an additional sales and purchase agreement for Shell to offtake approximately 1.1m tonnes per year (MTPA) of liquefied natural gas (LNG) from the third train of Mexico Pacific's anchor LNG export facility, Saguaro Energia, located in Puerto Libertad, Sonora, Mexico. Under ...
ChatGPT's limits when it comes to shipping In his regular monthly column, Pierre Aury gives readers the pluses and minuses of artificial intelligence for our industry. Hi PierreThank you for reaching out. I would be glad to discuss the question and provide clarity. I will be happy to connect and talk more. Please let me know if you would like to schedule ...
Rise in wrongly jailed seafarers triggers development of IMO guidelines Legal committee told of urgent need for fairer treatment of seafarers suspected of maritime crimes, and development of database outlining...
Terntank newbuildings backed by Neste charters Swedish owner ordered two tankers in November, with options of two more to be built at a Chinese yard
Richard Turner quits Victor for job at West of England Industry veteran is former chief executive of RSA Luxembourg, where he was in charge of all specialty lines
Chinese leasing strives to adapt to changing markets Biggest challenge comes from inflated asset value and elevated interest rates
Growing orderbook shows increasing acceptance of methanol as a marine fuel While revisions to the IMO's 2050 targets are yet to be decided, it is widely agreed that a full life-cycle...
Tonnage tax changes signal UK commitment to shipping Bringing shipmanagers as well as ship operators into the regime will bring the UK into line with other jurisdictions such...
World Shipping Council opposes US shipping anti-trust enforcement act Attempt to repeal ocean carrier's exemption from federal anti-trust laws said to erode the legal certainties that facilitate vessel-sharing agreements
Taiping & Sinopec Leasing orders two LNG carriers in China The two liquefied natural gas carriers worth $470m in total will be delivered in 2027
Reduced demand a mixed blessing for shippers The slowdown in container shipping has been marked by lower freight rates and better reliability. But it comes at the...
The Ukraine effect podcast: Shipping's continuing crewing crisis Chapter 2: The hostilities in Ukraine have left hundreds of seafarers held hostage, several dead and fundamentally affected the global...
No contact so far with tanker boarded by pirates, says owner Efforts are under way to re-establish communication channels with the crew
Türkiye's bulk exports fall significantly after earthquakes Geared bulkers are lifting more products in Egypt heading to West Africa, which bodes well for Atlantic trades given the...
Europe's strikes threaten supply chain delays Germany and France have both seen workers down tools. Shipping schedules remain unaffected but hinterland networks are at risk of...
MSC sells former Maersk panamax for recycling Vessel sold to Indian recyclers on Hong Kong Convention terms and was the largest vessel sold for demolition during a...
NYK to take full control of Mitsubishi Ore Transport NYK says the move will enable it address issues, including the introduction of next-generation fuel vessels
Sanctions on Russia have 'weaponised' flags, says registry chief Pacific Island flag says there is a line between 'legal and ethical' as Western governments step up pressure on open...
Shipping's share in EV battery transport expected to shrink Shipping's share in the transport of electronic vehicle batteries is expected to shrink, despite growth in the EV market itself...
Zim completes first LNG bunkering under Shell deal Zim's LNG-powered fleet will be more carbon and cost efficient, and allow customers to reduce their carbon footprint
Daily Briefing Leasing broker faces 15-year prison sentence in China anti-corruption case | The Ukraine effect podcast: The rise of the dark...
FMC assessing compliance with ruling on detention charges US regulator checking that ocean carriers and marine terminal operators are complying with the law following a precedential decision it...
UK officer training study finds 'deeply concerning' deficiencies Training for future skills, knowledge and the gaining of experience will take years
Vista Shipping secures green loan for LNG dual-fuel vessels Sustainability-linked loan sets 'ambitious targets' on annual efficiency ratio and sulphur oxide emissions over 10 years
Ocean carriers, marine terminals warn Congress on regulatory overreach The testimony comes as two House members prepare legislation designed to update OSRA-22 and another congressman restarts an effort to remove the antitrust immunity of ocean carriers.
Forwarders grapple with new freight rate math on tech investments Forwarders that experimented with new software during the days of robust freight demand now face a dilemma over what technology produces actual returns on investment as volumes and margin shrink.
US ag exporters feel pinch of work shift cuts at West Coast terminals Ongoing uncertainty over longshore labor on the West Coast is disrupting the long-term relationships US agricultural exporters have worked to establish with their overseas buyers.
HMM joins Maersk in ending demurrage collection at closed terminals HMM's decision to immediately cease charging demurrage fees at closed terminals comes as the US Federal Maritime Commission is finalizing rulemaking around free time billing practices.
Back on growth path: Cruise leaders see more than just a rebound in passenger demand With pandemic in the rear-view mirror, industry sees propensity to cruise at record levels
Done deal: world's largest boxship owner Seaspan taken private Shareholders request delisting from NYSE with immediate effect
Excelerate Energy aims to grow diversified LNG supply portfolio Company believes having its own volumes will allow it to offer more cost effective and flexible FSRU-based solutions to customers
Shipping's fuel bill can easily be slashed by $50bn a year Global Maritime Forum head Johannah Christensen claims operational measures can save huge amounts at Alfa Laval webinar
IMO told dark fleet tankers are 'a disaster waiting to happen' Shipping regulator hears demands for tighter restrictions on ship-to-ship transfers in international waters
US energy major Chevron taps shipyards for up to six LNG carrier newbuildings Energy major adds to growing and anticipated gas crush at yards as it seeks ships for its newly purchased US LNG
Scottish lighthouse workers to vote on strike action for the first time ever Union members could walk out later this year, jeopardising the safe passage of ships
Pacific Basin bulker was ordered out of port before losing power in storm Interim report by the Australian Transport Safety Bureau reveals the Portland Bay had to leave Port Kembla ahead of bad weather
JP Morgan tied to purchase of Swire Bulk handy trio US bank and Singapore owner pick up the S&P thread exactly where they had left it before bulker markets swooned
Norsepower raises €28m to scale up production of rotor wind sails Finnish company attracts new and existing investors as its expands technology that can cut fuel use by 5% to 25%
Lomar moves into deep-tech and further from containers New tech venture will provide ships as 'floating labs' to tackle biggest maritime challenges
Trond Mohn sells again as he banks $6m profit from ageing MR tanker Norwegian investor receives an offer he couldn't refuse after double sale in January
Proman will need many more methanol-fuelled tankers - but price not yet right Swiss producer's Anita Gajadhar explains twin impetus for fleet expansion
Suezmax built in 1999 doubles scrap value in $27m deal for further trading 'Deal of the week' shows how desperate buyers are to get their hands on tonnage to trade
Hafnia sheds more older product tankers after $10m jump in values Singapore owner offloads two more LR1s following February disposals
Hafnia linked to more sales of older product tankers after $10m jump in values Singapore owner said to have offloaded more older tankers following February disposals
China's Jiangnan Shipyard wins first LNG carrier orders of the year The LNG carrier newbuilding contract was signed with a domestic buyer
Accident risk: Finland warns of dangers from shadow fleet tanker transits Crews of vessels under unknown ownership likely unfamiliar with local waters
Excelerate Energy FSRU set for Germany arrival in third quarter Floating regasification specialist hauls in cash in 2022 as energy crisis bites in Europe
'Snowball effect' for Stolt Tankers as contract rates keep rising Fearnley Securities says effects of renewed contracts will kick in going forward
Missing tanker: Monjasa working to establish contact after pirates board ship off Congo Contact has been lost with Monjasa Reformer, but crew made it to the citadel
More tanker disruption as Iraq turns off crude pipeline to Turkey Exports halted from port of Ceyhan after ICC rules in favour of Iraq in ship loading row
Done selling? George Economou tied to last Mangrove newcastlemaxes New York investment manager said to be cutting ties to shipping with $126m deal for two newcastlemax bulkers named after American football players
Cargo ship grounds on Belizean reef after mechanical failure Port authority says investigation has begun following incident involving the Herca-1
Missing tanker: contact lost as Danish ship attacked by pirates off Congo Reports differ as to whether the ship was boarded or hijacked
NYK Line takes control of Mitsubishi Ore Transport Co The joint venture company will become a wholly-owned subsidiary
Standard Chartered leads $89.6m green loan for Vista's dual-fuel product tankers Asia-focused bank says loan includes mechanism to incentivise shipowner to meet green targets
Kumiai Navigation orders dual-fuelled VLGC newbuilding at KHI Japanese company orders single ship against a seven-year charter contract from Altagas
Standard Chartered leads $89.6m green loan for Vista's dual-fuel LR2s Asia-focused bank says loan includes mechanism to incentivise shipowner to meet green targets
House panel eyes ending ocean carriers' antitrust exemption Members of Congress discussed container carriers' antitrust exemption, along with how to implement the Ocean Shipping Reform Act, on Tuesday.
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