3D models are a game-changer for ship design, now what's next? The use of 3D digital twins for class approval represents a milestone in our ongoing focus on applying digitalization to increase productivity and shorten the calendar time for ship design, says Joonas
USCG warns of Volt Typhoon cybersecurity threat to maritime The U.S. Coast Guard is warning maritime companies of the cybersecurity threat posed by recent People's Republic of China (PRC) sponsored cyber activity seen across U.S. critical infrastructure, including the Marine Transportation
U.S. Gulf offshore wind comes a big step nearer The Bureau of Ocean Energy Management (BOEM) today issued a final environmental assessment (EA) on potential impacts from offshore wind leasing on the U.S. Outer Continental Shelf in the Gulf of Mexico,
OOCL's new mega vessel to enhance Asia-Europe network Orient Overseas Container Line (OOCL) hosted the naming ceremony of a brand-new 24,188 TEU vessel at the Dalian COSCO KHI Ship Engineering Co., Ltd. (DACKS) shipyard. The mega container ship is named OOCL Piraeus and becomes the first of six 24,188 TEU boxships ordered by OOCL at DACKS shipyard. More specifically, OOCL placed an order for a total of twelve 24,188 TEU container vessels in 2020. Of
Global box carriers increase schedule reliability at slower pace Global schedule reliability has continued to improve month to month, although the strength of the improvements has declined with each proceeding month, according to Sea-Intelligence. In April 2023, schedule reliability improved by 1.7% month to month, to 64.2%, up 29.9% year on year. The average delay for late vessel arrivals also continued to decrease, from 0.72 days in March to 4.34 days in Apr
Leading ports extend Climate Action Programme The chief executive officers (CEOs) and leaders of 12 major global ports decided to extend the World Port Climate Action Program (WPCAP) with a new focus on shore power, new fuels and green shipping corridors. The agreement was made at a meeting in Rotterdam, the Netherlands on the occasion of the first five years of the programme. The members of the programme are the ports of Antwerp - Bruges, B
British International Freight Association elects new leadership Charles Hogg has been elected as the new national chair of the British International Freight Association (BIFA) and will have this role for the next two years. Charles Hogg is commercial director at BIFA member company, Unsworth, and has been vice-chair of the association for the past two years. He was appointed as director of BIFA in 2019 and chairs the trade association's Surface Policy Group.
CMA CGM's revenue and earnings shrink after last record year French ocean carrier CMA CGM saw its revenue, earnings and profits plunge in the first quarter of the year, compared with the same period in 2022. In particular, the company's revenue reached US$12.7 billion, down 30.2%, earnings before interest, taxes, depreciation and amortization (EBITDA) decreased by 61.3% to US$3.4 billion and net income fell from US$7.2 billion in 2022 first quarter to US$2
GSBN adds another leading container carrier to its blockchain platform Blockchain platform Global Shipping Business Network (GSBN) has added a new member with the Singapore-headquartered container shipping company Ocean Network Express (ONE) joining the blockchain platform. Entering the technology initiative, ONE joins other major ocean carriers, such as COSCO, OOCL and Hapag-Lloyd, which are among the founders of GSBN. By joining GSBN, ONE gains access to the conso
Incheon Port and HMM in joint effort to up North American volumes Incheon Port Authority and HMM are working together to attract more gateway container cargoes from the US and Canadian west coasts. The South Korean port authority said on 29 May that its vice-president (operations), Kim Jong-gil, and HMM representatives, had met with major shippers in the United States and Canada, as well as the Port of Los Angeles' trade development director Marisela Caraballo
Peel Ports builds new multi-dollar storage facility at Port of Liverpool Peel Ports Group has announced an investment of approximately US$34.5 million in a new facility at the Port of Liverpool in the United Kingdom. The company's largest single storage investment in the current year aims to a nearly 22,300m² warehouse, which is expected to be built at Peel Port's Alexandra Dock. The construction of the new facility, Alexandra Dock Multi-User Warehouse (MUW), is expec
DP World and Standard Bank join forces to provide trade finance solutions in Africa Major South African bank Standard Bank has collaborated with DP World to provide trade finance solutions through DP World Trade Finance. This partnership is expected to help in closing the gap in unmet demand for working capital on the continent, as African businesses seeking trade financing will now be able to receive working capital from Standard Bank through the DP World Trade Finance platform
First zero-emission hydrogen-powered inland cargo ship arrived at Port of Rotterdam The H2 Barge 1 entered operation in Rotterdam on 25 May 2023. The 110-metre-long zero-emission ship from Future Proof Shipping (FPS) will sail for Nike several times each week between the port of Rotterdam and BCTN's inland terminal in Meerhout, Belgium. This is estimated to save 2,000 tonnes of CO2 in annual greenhouse gas emissions. FPS founder Huib van de Grijspaarde received a certificate wit
SC Ports handles over 210,000 TEUs in April In April, South Carolina Ports (SC Ports) moved 214,101 TEUs and 119,572 pier containers, which account for containers of any size. SC Ports reported that overall cargo volumes increased in the previous month, compared to March volumes, buoyed by the strength of the US Southeast market. While volumes are down 19% year-over-year as consumers continue to buy fewer goods compared to last year's mass
Grimaldi boosts ammonia-ready car carrier orderbook to 17 ships Italy's Grimaldi Group has bolstered its ammonia-ready car carrier orderbook in China with two more newbuilds. The Naples-based company has exercised options with China State Shipbuilding Corporation (CSSC) for 9,000 ceu pair adding to the previous five ships booked at CSSC-affiliated Shanghai Waigaoqiao Shipbuilding and China Shipbuilding Trading Company in January. The 200 m-long duo, ...
Golar LNG confirms vessel purchase for FLNG conversion Tor Olav Trøim-backed Golar LNG has confirmed picking up the 2004-built LNG carrier earmarked for conversion to a floating liquefied natural gas (FLNG) unit. A purchase widely reported by brokers involved TMS Cardiff Gas' 148,000 cu m for $73m. Golar said it will pay $11m in the second quarter, with the remainder in early 2024, ...
Gothenburg port names new CEO Sweden's Gothenburg Port Authority has appointed Göran Eriksson as its new chief executive officer. Eriksson, who currently heads up GAC Group's company in India, will succeed Elvir Dzanic in August when he leaves to take up the CEO post at Swedish conro operator Wallenius Sol. Commenting on his appointment, Eriksson said: "I feel honored to ...
Ports commit to extend climate action program Chief executives and leaders of 12 major ports in the World Port Climate Action Program (WPCAP) have agreed to extend their cooperation with a new focus on shore power, new fuels and green shipping corridors. The agreement reached at a meeting in Rotterdam on the occasion of the first five years of the program will ...
NKT lines up Swedish offshore wind contract Denmark's NKT has entered into a conditional agreement with Swedish offshore wind developer OX2 and its partner Ingka Investments, the parent company of furniture giant IKEA, for the delivery and installation of export power cables offshore Sweden. OX2 is developing three offshore wind farms in Sweden together with Ingka Investments: Galene on the west coast, ...
India advances green tugs initiative India is pressing forward with plans to green its shipping and become a global hub for green shipbuilding by 2030, with four of its ports set to place orders for new tugs. The state-owned Jawaharlal Nehru Port Authority, the premier container handling port in India, is said to be in line to order a pair ...
Port of Aberdeen looks into underwater hydrogen storage Port of Aberdeen has tapped Subsea 7 to investigate the feasibility of establishing underwater hydrogen storage at South Harbour. The Oslo-listed company will carry out extensive engineering studies to identify the optimum technology solution and a suitable offshore site, as well as outline a business case. The Port of Aberdeen's 'H2Shore - Hydrogen coastal storage ...
Corio links up with Hyperion for Portugal's offshore wind auctions Corio Generation, an offshore wind portfolio company of Macquarie's Green Investment Group (GIG) has teamed up with Portuguese renewable energy developer Hyperion Renewables to explore opportunities to build offshore wind projects off the coast of Portugal ahead of the country's first-ever offshore wind auctions. The two companies have signed a memorandum of understanding to work ...
Seismic trio secures more work off Malaysia A seismic consortium comprising PGS, TGS and SLB has secured pre-funding to expand multi-client 3D survey in the Sarawak Basin, offshore Malaysia. The 6,800 sq km survey will start in June 2023 and complete in August utilising PGS' seismic vessel . The campaign is the second phase of a multi-year contract awarded initially by Petronas ...
Arne Fredly emerges as fourth largest shareholder of Höegh Autoliners Renowned shipping investor Arne Fredly has been revealed as a major shareholder in Höegh Autoliners. Controlling shareholder Leif Höegh sold 6.4% of the car carrier's stock a week ago, with Fredly coming in for another 2.4m shares, and Øystein Stray Spetalen, chairman of Dolphin Drilling, moving to take 1.6m shares. Fredly now has 3m shares ...
Gulf Energy Maritime fleet sale gathers pace Aware of the elevated prices on offer, Gulf Energy Maritime (GEM) of Dubai put its entire fleet of 11 tankers for sale at the end of April and within a month sales have filtered in. Broking sources tell Splash that the 19-year-old Middle Eastern owner has accepted offers for five Korean-built LR1s and is now ...
K Line joins project to develop next-gen floating wind turbines Kawasaki Kisen Kaisha (K Line) has joined a demonstration project aimed at developing cheaper floating offshore wind turbines that can be produced in Japan. Five partnering companies, which also include J-Power, Tokyo Electric Power Company (TEPCO), Chubu Electric and floating offshore wind turbine developer Albatross Technology, will jointly develop a small-scale (20 kW) next-generation experime
ONE joins GSBN blockchain platform Hong Kong-headquartered blockchain platform Global Shipping Business Network (GSBN) has welcomed Ocean Network Express (ONE) as its latest member, joining founders such as COSCO, OOCL and Hapag-Lloyd as well as port companies including PSA and SIPG. "By joining GSBN, ONE gains access to the consortium's blockchain-enabled platform, which facilitates secure and trusted exchange of data ...
Shanghai Waigaoqiao Shipbuilding becomes major shareholder in Shandong Shipping In lieu of payment for four jack-up rigs delivered three years ago, Shanghai Waigaoqiao Shipbuilding (SWS) has taken a 35% in Shandong Shipping, China's third largest shipowner. The deal to resolve the late payment comes via Shandong Shipping's decision to issue billions of new shares in a non-public offering with SWS taking RMB4.7bn ($665m) of ...
Reach Subsea extends Olympic MPSV charter Norway's Reach Subsea has extended a charter deal with compatriot owner Olympic for the multipurpose supply vessel (MPSV). The 2007-built vessel was fixed to Reach for six months in February, with options to extend for up to five years within a four-week period from signing. The Haugesund-based company has already utilised the MPSV for ...
Stena Drilling seals long-term ultra-deepwater drillship contract with Shell Stena Drilling has landed a new contract with Shell for its seventh-generation ultra-deepwater drillship, . The Aberdeen-based subsidiary of Sweden's Stena has fixed the 2023-built floater for five years in the US Gulf of Mexico, starting in the second quarter of 2024. The financial terms surrounding the deal, which comes with further extension options, have ...
RINA and Eni collaborate on maritime decarbonisation Italian energy company Eni has teamed with compatriot RINA, a classification society, to work together on maritime decarbonisation. Specifically, the agreement between the two companies focuses on the use of hydrogenated vegetable oil biofuel produced by Eni in its Venice and Gela bio-refineries, as well as of other energy carriers such as blue or green ...
Is the dry bulk market set for a super-cycle? In his regular monthly column, Pierre Aury discusses how a super-cycle could emerge. During the Maritime CEO Forum held recently in Singapore the question was asked about a possible, or at least a plausible, new super-cycle looming in dry bulk. The moderator of the dry bulk market outlook panel noted that geopolitical risks tend to ...
Tristar-MTM Ship Management established Tristar Eships and MTM Ship Management have formed Tristar-MTM Ship Management. Headquartered in Singapore with offices in Athens, Dubai and Mumbai, the joint venture will be managed by an independent team of shipmanagement professionals overseen by senior members of the Tristar Eships and MTM Ship Management organisations. Tristar-MTM Ship Management is starting out by managing ...
Ørsted to buy out Eversource's share in northeast US offshore seabed Danish renewables giant to buy partner's 50% stake in the northeast US seabed along with contracts and partnerships for $625m
Fire breaks out on Eagle Bulk ship in South Korea The 63,707 dwt vessel will undergo inspection to ascertain the extent of any damage, while an investigation has been launched...
Terms of FD&D cover varies between clubs, Marsh study finds Defence makes up only a limit proportion of overall club premium income. But members value the service
Sanctioned ship refloated after blocking Russia's Caspian Sea connection Incident represents the third time in three years the same general cargoship has cut off the flow of traffic
Norden diversifies with Thorco Projects acquisition There are many commercial synergies between the two businesses, including an overlap in Thorco Projects' fronthaul routes and Norden's backhaul...
Ports climate initiative to set up green fuel readiness framework Project agrees to an extension with a new focus on clean fuels, shore power and green corridors following Rotterdam's example
Avance Gas expects healthy earnings on resilient US-Asia demand A firm US-Asia arbitrage has bolstered rates for VLGC's with a continued upbeat outlook expected through the year
Box ports at forefront of growing drugs problem Smugglers are diversifying the routes and tactics to bring narcotics to Europe. TT Club calls for greater awareness of the...
Combining wind with advanced tech would swiftly bring savings Joint projects such as the NAPA, Norsepower, Sumitomo venture reveal potential benefits that go beyond trials. Alternative fuels will take...
The week in charts: Ukraine export hub empty | Green corridors risk becoming greenwash | Carriers avoid price war as box rates stabilise Dark fleet operator Gatik reflags four tankers with Mongolia, Suez Canal groundings double this year and dry cargo sector dominates...
The week in newbuildings: Orders valued at nearly $3bn signed Asian shipbuilders have won newbuilding contracts for six bulkers, three combination carriers, five boxships, seven gas carriers and 10 tankers
Smaller transpacific carriers return to pre-pandemic market share Box lines outside the large alliance partnerships were quick to enter the market as freight rates rose. Since the fall...
ONE joins blockchain-based logistics platform GSBN Digitalisation has the potential to enable a quantum leap in shipping sector, GSBN said, calling for trusted collaboration
Charterparty expectations holding back decarbonisation efforts By bringing together machine learning software and high-frequency data, it is now possible to reimagine the traditional expectation that ships...
Hapag-Lloyd sells ice-class boxships for recycling in Türkiye Sale of boxship trio brings total sales of containerships for recycling so far this year to 24 vessels with a...
Heroic Idun leaves Nigeria In addition to pleading guilty to charges, including oil theft, the crew agreed to pay conviction fines and restitution to...
APM Terminals Bahrain to be region's first fully solar-powered seaport The system will be able to generate 18.5 GW of electricity per year that will be used for powering various...
ICTSI to develop megaboxship-capable Berth 8 at MICT Operations set to begin in 2025 with the delivery of two quay cranes. The port operator is also modernising and...
New UP intermodal service from Houston to provide West Coast reach Union Pacific's launch of direct intermodal service from Houston comes two weeks after competitor BNSF announced it would begin a new service from the port's Barbours Cut marine terminal.
Hong Kong struggles to recover volumes lost amid South China cargo shift Shippers and port executives say the post-COVID shift of cargo back to Hong Kong is being hampered by the global slump in demand as developed countries grapple with elevated inventories and inflationary pressures.
Showcasing impactful community projects Demo Day 2023: Watch demos using Equinix bare metal as backbone for high production workloads, Free
CPKC adds new reefer containers to Mexico-US service Weeks after starting a new daily train between central Mexico and Chicago, CPKC is introducing 1,000 temperature-controlled containers to the service in a bid to court freight from reefer shippers.
US truckload market 'bouncing' along pricing bottom: analysts The long drop in truckload spot market rates has eased, revealing a soft bottom for pricing, but more demand is needed to fuel any upswing benefiting truckers, observers say.
CMA CGM attempts peak season surcharge for India-US trade Thanks to a recent GRI push, average contract rates for India to the US have seen modest gains in recent weeks and carriers are now looking to build around that limited success.
Seized tanker watch: Suez Rajan comes to a halt off Texas. What happens next? Suezmax tanker appears to park at anchorage off Galveston as legal status remains unclear
P&O Cruises' Paul Ludlow takes 'far-reaching experience' to lead Carnival UK Sture Myrmell steps down as president of UK unit after 30 years with Carnival Corp
Rotor sail and optimisation study for SHI-ME wind ship 'exceeds expectations' Napa, Norsepower and Sumitomo Heavy Industries Marine & Engineering predicts average 28% emission savings from using rotor and voyage software system
Mixed bag: Stifel analyst weighs in on Fredriksen's International Seaways demands 'Continued fighting' is likely, but does it have the potential to bring about consolidation?
Spetalen takes a bet on Hoegh Autoliners as Fredly boosts stake Tycoons pounced as share price plunged after Hoegh family's private placement
Grimaldi Group exercises options for two more car carriers Italian shipowner lifts orderbook to include 17 ammonia-ready pure car/truck carriers
Hundreds of new maritime firms set up with Russia links Analysis finds UAE is the centre of ownership for formerly flagged or owned Russian ships
Golar LNG exploring potential for multiple FLNG units with NNPC Company is 'in dispute' with BP over pre-commissioning contractual cash flows on LNG carrier-to-floater conversion for the Tortue project
Entrenched, shameless, self-interested: Fredriksen blasts International Seaways while plotting votes The Norwegian tycoon plans to vote against the New York-listed company's compensation plan and poison pill provision
Lightship Chartering 'stronger than ever' in Athens with fresh panamax presence Geneva-headquartered shipbroker says it plans to make more hires and develop new talent
Portuguese owners elect Stolt's Maren Schroeder to head lobby Stolt Tankers managing director will lead the new all-women team as president and chairwoman of the European International Shipowners' Association of Portugal
Tsakos Energy posts record profit for second consecutive quarter Anniversaries coincide with record profits at the Greek shipowner, which is mulling hiking its dividend
Container charter markets: resilient, but for how long? A 'disconnect' between container freight and charter markets is unlikely to go on forever
Insurer TT Club seeks to stem booming cocaine trade to European ports Specialist insurer is studying the sophisticated methods used by global crime syndicates
Golar LNG eyes fresh projects for FLNG unit Hilli but next-up conversion is delayed Planned sailaway of upcoming LNG carrier-to-floater conversion for BP is pushed into third quarter
Rocky road ahead as Canadian pipeline promises 'entirely new' Pacific tanker market UK shipbroker Gibsons says west coast expansion work still faces cost and environmental issues
Spain fines Elephant owner over ship-to-ship secrecy The Vietnamese-owned vessel was part of a chain of oil transfers linked to a former Russian-flagged ship
Eagle Bulk ultramax hit by cargo hold fire in South Korea No injuries reported as probe begins into blaze that took place during loading operations
Columbia seeks joint ventures with shipowners as it opens up in Istanbul Shipping services group exploring new partnerships to back the growing Turkish shipping sector
Stena Roro returns to China with flexible newbuilding order The roro and ropax owner is placing an order for two ships for work with Stena Line in Northern Ireland and England
Russia and Pakistan launch first direct service with Neco Line ship New link to boost trade between nations as a result of Western sanctions
Salvage team heads for 'time bomb' tanker at risk of exploding Boskalis support vessel left Djibouti on Monday with equipment for the oil transfer operation
Europe ups noise on Russian LNG ban while boosting imports A change in trade patterns looms but buyers remain locked into contracts and the region is reluctant to lose security net
Golden Ocean Group steps up buybacks of 'undervalued' shares as price sinks The John Fredriksen-backed shipowner commenced its $100m buyback scheme in October
CMB raises bulk carrier wager with newbuildings in China Latest deal brings newbuilding programme to 22 ships valued at $1.3bn
'Our duty': Teekay Tankers suezmax rescues 107 migrants off Italy Copper Spirit heeds an emergency call from Italian authorities
Avance Gas says VLGCs to benefit as Panama Canal waiting times increasingly volatile Norwegian shipowner says it is becoming harder to schedule voyages through the vital waterway
Reach Subsea grabs Olympic Subsea construction vessel with multi-year extension Oslo-listed offshore player looking forward to extending 'long-standing fruitful cooperation' with Olympic
Avance Gas sees newbuilding threat recede as spot rates hit $90,000 per day CEO Oystein Kalleklev bullish on gas carrier prospects as newbuilding threat diminishes
Russia-Ukraine standoff puts Black Sea grain deal in danger Moscow and Kiyv dig in their heels over the UN-led safe passage scheme
CJC creates fresh managing roles for returning lawyer Richard Murray and eight others UK shipping specialist announces nine promotions alongside re-hire of Stephenson Harwood legal expert
Tristar Eships and MTM launch new ship management joint venture Singapore-based venture will initially manage Tristar ships before looking at third party tonnage
Shanghai Waigaoqiao Shipbuilding builds major stake in Shandong Shipping The CSSC-controlled shipyard is now the second-largest shareholder of China's third-largest shipping company
Changing trade patterns spark renewed interest in suezmax newbuildings, says SSY Broker says ability to cannibalise both VLCC and aframax trades has made these vessels very attractive
FedEx expands package capacity at Adelaide Airport FedEx Express is quadrupling throughput at one of its airport gateways in Australia.
Birmingham airport breaks ground on Kuehne+Nagel cargo facility Birmingham-Shuttlesworth airport is building a 53,000-square-foot airside transfer center for freight company Kuehne+Nagel.
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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