Planned Oregon and Gulf of Maine auctions open new opportunities for floating offshore wind The U.S. Department of the Interior has announced two proposals for offshore wind energy auctions off the coast of Oregon and in the Gulf of Maine. Proposed by the Bureau of Ocean
Carnival completes fleetwide rollout of LR OneOcean EnviroManager+ Carnival Corporation's nine cruise lines and 90-plus ships sail all over the world, making more than 22,000 port calls each year to over 800 destinations, each with potentially different environmental regulations governing
All American Marine delivers hydrofoil-assisted tour vessel Bellingham, Wash., based All American Marine (AAM) today announced the delivery of the Chugach Express to Alaska-based Phillips Cruises and Tours. This high-speed and long-range eco-tour vessel will operate daily in Prince William Sound
Bibby Marine places order for world's first zero-emission eCSOV Liverpool-headquartered Bibby Marine has placed an order with Spanish shipbuilder Gondan for what, it says, will be the world's first truly zero-emission, electric commissioning service operation vessel (eCSOV). It will be built
What Services Do Self Storage Units Provide for Customers? Self-storage units have become an essential solution for individuals and businesses needing extra space. These facilities offer a variety of services tailored to diverse needs, from storing seasonal decorations to safeguarding business inventory. For instance, a local musician might use a climate-controlled unit to protect her vintage guitars, while a small e-commerce business utilizes the space
Reverting impact of Red Sea Crisis on schedule reliability Sea-Intelligence has released the latest edition of the Global Liner Performance (GLP) report, featuring schedule reliability data up to March 2024. The report of the Danish shipping data analysis firm encompasses schedule reliability across 34 trade lanes and over 60 carriers.
CMA CGM applies contingency charge on NEMO service CMA CGM has notified its customers regarding the updated Contingency Charge, effective from 26 April 2024, for shipments originating from North Europe, the Mediterranean, and North Africa bound for Australia on the NEMO service. This surcharge, applicable to all types of cargo, amounts to US$775 per 20-foot container and US$1,550 per 40-foot container. If you liked this post, please consider dona
Hapag-Lloyd approves dividend allocation of €9.25 per share The shareholders of German shipping company Hapag-Lloyd AG approved with the required majority all items on the agenda put to the vote at the Annual General Meeting today (30 April). This included the appropriation of the net profit and thereby the payment of a dividend of €9.25 per share . "We achieved the third-best Group profit in the history of our company and, on the whole, we can look back
Port of Gothenburg handles over 240,000 TEUs in first quarter Container volumes at the Port of Gothenburg continue to surge, surpassing last year's record levels. The first quarter of 2024 witnessed a historic high in container handling for the Swedish port. Combining both exports and imports, the container volumes at the port of Gothenburg surged by 8% to reach a total of 242,000 TEUs, marking a historic high for a single quarter in the port's history. The
Maersk implements peak season surcharges worldwide To ensure the continued provision of its global services, Maersk will be introducing a Peak Season Surcharge (PSS) for shipments from Brunei, Vietnam, Indonesia, Cambodia, Laos, Myanmar (Burma), Malaysia, Philippines, Singapore, Thailand, and Timor Leste to Dar es Salaam in Tanzania. This surcharge will be effective from 6 May and will apply to dry, reefer and 45 high dry containers. Charge name
FMC asks for financial relief for Baltimore businesses Commissioner of the US Federal Maritime Commission (FMC) Carl Bentzel has written to US President Joe Biden to ask for financial aid to staff and businesses that have been affected by the closure of the port of Baltimore following the Francis Scott Key bridge destruction. In a letter seen by Container News, Bentzel thanked the president for his rapid response at the time of the accident, which ef
Tanker sustains damage as Houthis intensify attacks For the first time in over a month, a ship has suffered damage in a Houthi missile attack in the Red Sea, as the Iran-backed rebels step up their assaults. The US Central Command said that at 5.49 pm Yemen time on 26 April, Houthis launched three anti-ship ballistic missiles (ABSM) near the 2009-built Panama-flagged Aframax tanker, Andromeda Star, which is believed to be owned by unknown UK inter
Port of Melbourne handles over 280,000 TEUs in March The Port of Melbourne has released its trade update for March 2024, revealing a significant increase in total container throughput compared to March 2023, totalling 280,900 TEUs. Full container imports (excluding those from Bass Strait) saw a rise in volumes compared to the previous year, with furniture, domestic appliances, metal manufactures, and paperboard all surpassing last year's figures. S
CMA CGM applies new FAK rates from Asia to Med & North Africa French shipping company CMA CGM has announced new Freight All Kinds (FAK) rates effective from 15 to 31 May from Asia to the Mediterranean and North Africa. The following rates will apply to dry containers, OOG (Out of Gauge), and Paying Empties. 20' 40'/40'HC WEST MEDITERRANEAN US$4,200 US$6,000 ADRIATIC US$4,300 US$6,100 EAST MEDITERRANEAN US$4,400 US$6,300 BLACK SEA US$4,500 US$6,400 ALGERIA U
HHLA TK Estonia receives CMA CGM's newest boxship On 21 and 22 April, HHLA TK Estonia received the newest container ship of the French ocean carrier CMA CGM, CMA CGM Mermaid, which was completed in early 2024. The new generation ship uses liquefied natural gas (LNG) as fuel, and thanks to the innovative design its CO2 footprint is 20% smaller than usual. In total, CMA CGM ordered ten new generation feeder container vessels with a capacity of 2,0
ONE's profit falls short of US$1 billion mark in FY 2023 Ocean Network Express (ONE) has unveiled its results for the financial year (FY) 2023, starting in April 2023 and ending in March 2024. During this period, the company's revenue reached US$14.5 billion, reflecting a 50% decrease compared to the previous year. The net profit stood at US$974 million from an astonishing US$14 billion profit in FY 2022. "The short-term freight rate market continued t
OceanPal to sell capesize after end of new charter with Richland Bulk Greek bulker owner OceanPal has entered into a time charter contract with Richland Bulk for one of its capesize dry bulk vessels and agreed to sell it upon the end of the charter. Richland Bulk charted out the 2005-built, 177,243 dwt capesize bulker Baltimore. The gross charter rate is $22,000 per day minus a 5% ...
BW Energy enters $150m sale and leaseback deal for Gabon platform Oslo-listed BW Energy has executed a sale and leaseback agreement with China's Minsheng Financial Leasing for the MaBoMo production facility on the Dussafu Licence offshore Gabon. The agreement will provide $150m of gross sales proceeds under a ten-year lease term with an option to repurchase the unit from the end of year seven. According to ...
DOF scores $192m in deals from Petrobras for two anchor handlers Norwegian offshore vessel owner DOF has won new contracts for two of its anchor-handling tug supply (AHTS) vessels. Petrobras awarded long-term charter and service contracts to the company after a competitive tender issued in late 2023. The two contracts will generate over $192m in revenue. DOF's Norskan Offshore unit won a deal for the 2011-built ...
Archer bags $40m drilling services extension in UK Norwegian offshore service provider Archer has been awarded a two-year contract extension for platform drilling services in the UK by an unnamed client. The estimated contract of the extension is $40m. The deal will begin on May 1, 2024, in direct continuation of the current contract. Over the next two years, Archer will continue to ...
Emanuele Grimaldi buys into Höegh Autoliners Following hot on the heels of Gianluigi Aponte's $700m bid for Gram Car Carriers, another Italian shipping magnate has emerged as a fan of the Norwegian car carrier scene. Emanuele Grimaldi has picked up a 5.12% stake in Höegh Autoliners becoming the company's second-largest shareholder after the Höegh family which holds 35.5% of the shares. ...
Houthis remain on the offensive The , taking aim at US naval ships and merchant vessels far away from their Yemeni shoreline. US forces destroyed yesterday one Houthi-launched airborne unmanned aerial vehicle (UAV) on a flight path towards the destroyers USS Philippine Sea and the USS Laboon. No injuries or damages were reported. A Houthi military ...
COSCO's battle to open Peruvian megaport could go to international arbitration It is the largest port under construction in South America, something the Chinese ambassador in Lima has claimed will transform a former fishing village 70 km north of the capital into Peru's Shanghai. However, the construction of Chancay port, set to be opened by president Xi Jinping in November, has not been without controversy. From ...
Eastern Pacific books up to eight product tankers at Fujian Mawei Idan Ofer's Eastern Pacific Shipping (EPS) has added to its massive orderbook with a fresh deal for MR product tanker newbuilds in China. The Singapore-based diversified shipowner, with more than 70 newbuilding projects, has contracted for up to eight 50,000 dwt product carriers at Fujian Mawei Shipbuilding. The order covers four firm conventionally fueled units ...
Petrobras evaluating offshore wind pilot project in Rio Grande do Norte Brazilian giant Petrobras, most famous for its deepwater oil and gas plays, is turning its attention to offshore wind and has signed an agreement to conduct a feasibility study for a pilot offshore wind project with the government of Rio Grande do Norte state. The MoU foresees that the Brazilian state would align the project ...
Oil price cap 'increasingly unenforceable' insurers warn Written evidence submitted to the UK parliament by the International Group of P&I Clubs has warned that the oil price cap, introduced 16 months to go in a bid to cut Russian revenues, is not working. British politicians have been holding an inquiry to look at how sanctions against Russia are working. The International Group, ...
Volvo Penta to power first retrofitted fully electric CTV Gothenburg-based Volvo Penta will provide the power solution for the world's first retrofitted electric crew transfer vessel (E-CTV). Volvo Penta will power an existing vessel in one of just 10 projects awarded UK government funding as part of an industry-led transition to net zero. For the project, the company will supply a fully electric propulsion ...
Ola Lorentzon elected Flex LNG chairman Ola Lorentzon has been elected as chairman of another John Fredriksen-backed company. The chairman of dry bulk player Golden Ocean Group and tanker giant Frontline is taking over the chairmanship at Flex LNG, replacing David McManus, who did not stand for re-election. Lorentzon has been a director of Flex since June 2017. He has served ...
Guinea-Bissau emerges as this year's fastest-growing ship register Three African flags stand out this year for their extraordinary growth. The registries of Gabon, the Comoro Islands and Guinea-Bissau have each more than doubled in size in 2024 so far, taking on a significant tranche of the so-called shadow tanker fleet in the process. Gabon, a small Central African nation on the Atlantic coast, ...
Dolphin Drilling terminates semisub deal in Nigeria with GHL Semisub rig owner Dolphin Drilling has terminated the contract with General Hydrocarbons Limited (GHL) for its Blackford Dolphin rig. Last month, the two companies reached an agreement regarding past-due payments and the remaining work under the drilling contract for the rig. It was initially supposed to run until the end of March but the payment ...
Shelf Drilling wins $54m jackup deal in UK North Sea Oslo-listed jackup rig pure-play Shelf Drilling has won a deal for one of its rigs with an unnamed operator in the UK. The offshore driller won a contract for its Shelf Drilling Fortress jackup for operations in the UK Continental Shelf. According to the company, the estimated duration of the contract is 400 days with ...
Hapag-Lloyd debuts dry container tracking product Germany's Hapag-Lloyd has become the first liner in the world to launch a fleet-wide dry container tracking product. Hapag-Lloyd's new Live Position product provides full on-demand door-to-door visibility, using Internet of Things technology on a large scale. More than two thirds of the company's dry container fleet have already been equipped with tracking devices with ...
Green containerised solutions proliferate for shipping Many green solutions for shipping are arriving onboard in containerised form. Spain's H2SITE has unveiled its onboard ammonia cracking technology, which comes in a container, and produces fuel cell quality hydrogen. The technology has just received approval in principle from Lloyd's Register H2SITE's AMMONIA to H2POWER technology Receives Approval in Principle from Lloyd's Register with ...
Houthis secure first direct hit in Indian Ocean The vessel sustained minor damage with debris from an apparent unmanned aerial vehicle on board
'Leaky' Russia oil price cap being 'breached left and right', UK parliamentary inquiry told The Treasury Select Committee, investigating whether Russian sanctions are working, was told of the parallel fleet operating outside G7 countries'...
CSSC's tech firm and Evergreen trial onboard carbon capture Sceptics remain cautious about the technology's prospects because of concerns over limited supporting facilities and the energy consumption generated by...
Vessel Protect ups limits for hull and cargo war risk Move comes after Howden's recent launch of cargo facility for Red Sea
Cosco Shipping Holdings shares surge after beating profit estimates Investor sentiment is being buoyed by earnings and geopolitics. HSBC expects Red Sea disruptions to potentially extend into the second...
Emanuele Grimaldi stake in Höegh Autoliners fuels takeover possibility Emanuele Grimaldi is now Höegh Autoliners' second-largest shareholder after Leif Höegh & Co. An eventual takeover would make strategic sense and...
Safe Bulkers seals more capesize charters Eight capesizes are earning an average of $24,400 per day for the next two years
Thailand's RCL expands boxship order at Huangpu Wenchong to six vessels Each boxship costs $56.6m, with expected delivery in late 2027
Daily Briefing Insurers tell UK government that oil price cap is 'increasingly unenforceable' | Red Sea traffic stable at new 'normal' despite...
ONE swings to profit as Red Sea rerouting boosts freight rates ONE has increased its profit forecast for the current fiscal year ending March 2025 to $1bn, anticipating that the rerouting...
Ryder expands in El Paso to meet rising manufacturing demand The impact of companies relocating manufacturing to Mexico is beginning to be felt, with Ryder's freight volumes rising all along the US-Mexico border.
Ocean carriers target growing China-Mexico trade with new express services The launch of the new services comes amid an investment boom by Chinese companies in Mexico as part of wider US nearshoring efforts that include Central and South America.
ISS backs Shaw to remain as NS CEO, but recommends changes on board The split recommendation from the influential proxy research firm comes one day after Glass Lewis recommended ousting Alan Shaw and COO John Orr.
Ex-Slync CEO Urban joins Chain.io board to bolster company's growth John Urban spent a year as chairman and CEO trying to salvage Slync, the logistics automation platform negatively impacted by the high-profile legal saga of its founder Chris Kirchner.
Hapag-Lloyd adds space guarantee fee for India-US loads amid sailing cuts One forwarder that had a recent cargo sail from Mundra complained that loading was only confirmed subject to the additional charges being paid.
ONE banks $1 billion FY profit on Red Sea-linked boost in ocean rates Ocean carrier reporting season is off and running and, as expected, the diversion of ships around southern Africa to avoid attacks in the Red Sea is playing a leading role in the financials.
Clean fuels from outside EU face exclusion from green database: industry groups Biomethane and biomethanol-based fuels suitable for shipping and produced outside Europe may not receive automatic certification within the EC's gaseous fuel database to be released in November.
Asia-Europe spot rates move higher as Red Sea crisis impacts weekly voyages The spread between spot and contract ocean freight rates has widened amid fewer voyages from Asia to Europe due to the longer transit times around southern Africa's Cape of Good Hope.
Slow to digitalise, quick to save $86,000. Why Marubeni has an eye for fleet digitalisation AI navigation, wind propulsion, e-payment apps, digital trading, autonomous tests. Marubeni is playing catch-up
BW LPG shares trade higher after New York debut Singapore company becomes second major VLGC owner in New York
Cargill works to widen biofuel reach in shipping as Europe growth slows FuelEU Maritime could change dynamics for biofuels demand
Houthis show long-distance strike capability with attack on MSC ship far from Yemen Details emerge of Indian Ocean strike that left minor damage to container ship
Norwegian chemical tanker investor snaps up Transportation Recovery Fund duo Brokers say tankers fetched roughly the same price as they were ordered for 10 years ago
Former Gram Car Carriers chief executive cashes in shares following takeover offer Karl Terjesen makes more than $2m on sale of his stake
NRP shipping fund jumps 11% in first quarter as it starts selling dry bulk exposure NRP Premium Maritime Fund takes 'an opportunistic approach when the price is right'
Reefer owner Seatrade agrees $6m settlement to end landmark illegal scrapping case Retrial avoided in legal row dating back to 2012 as company strikes deal with Dutch prosecutor
Capesize-hungry Costamare taps into Cobelfret selling spree Expanding Greek capesize owner feasts on sale drive by traditional Belgian player
Okeanis repays $16.7m loaned by owner Ioannis Alafouzos to fund new VLCC Annual report reveals financial help by chairman for order in South Korea
Shipping-exposed segments drive Kongsberg's top line in first quarter Kongsberg Maritime and Kongsberg Digital provide half of all revenue
Bulker player Anglo International eyes upturn after weaker 2023 results Shipowner will target more exposure to the spot market this year and does not appear interested in buying vessels
Boxship sales boost Capital Product Partners profit to highest in six quarters Evangelos Marinakis firm's transformation into a pure-play gas owner goes according to plan, management says
Yildirim Group nets $75m financing for 14 tankers and cargo vessels from Chinese leasing firm Funding from Jiangsu Financial Leasing covers 10 chemical/product tankers and four general cargo vessels
How Elon Musk's Starlink is fuelling digital transformation at Seaspan Corp Seaspan's Torsten Pedersen opens up on the importance of connectivity when embarking on a digital journey
Through a steak tartare shortage, anti-smoking laws and even a murder, this shipping lunch club endures Old school group of US shipping names have been hosting a meat-up for 25 years
Euronav confirms huge profit from sale of older VLCC to Sinokor Details of transaction involving lease buyout revealed in accounts of Luxembourg subsidiary
Modern Angelicoussis VLCC scores big rate in market where several owners are holding back Tonnage list thinning out for May, leading to deals for older ships under the radar, brokers say
Family fund, investment banking and water polo: The making of new d'Amico International Shipping CEO Promotion of Paolo d'Amico's stepson sees a new generation take charge at Milan-listed shipowner
V.Ships to manage dual-fuel methanol container vessels for X-Press Feeders French division of global ship manager adds to its portfolio of dual-fuel vessels
Streamlined Belships now an easier takeover target, analysts say Clarksons Securities backs simplification of operating structure
Christian Bonfils and backers sell half of emissions reporting tool OceanPass Sale is a vote of confidence for the commercialisation of shipowner-founded tech
QatarEnergy extends huge LNG shipbuilding push to 122 vessels worth nearly $30bn Is producing giant done on newbuilding or will South Korean yards break into Q-Max construction?
Vitol lines up Rami Ungar and Adnoc VLCCs to ship US crude to Dangote refinery Broker BRS says new market for US barrels is positive for owners, despite potential payment delays
'Most other' dry bulk stocks more attractive than Norden, Clarksons Securities says Danish company saw profit hit by big loss at trading division
Philippines tracking 'unauthorised' Chinese research ship in its waters Armed forces first observed the Shen Kuo 61 miles off Rapu-Rapu
QatarEnergy bumps up Q-Max orders in China to 18 ships worth close to $6bn Shipowner names emerge as Hudong Zhonghua tasked to build the world's largest LNG carriers
Emanuele Grimaldi buys Hoegh Autoliners stake to spark speculation of second car carrier takeover Move by Italian shipowner ignites talk Norwegian company could follow Gram as takeover target
'On a knife edge': Gibsons tracks tanker market mutations as sector buffeted by geopolitical turmoil US exporters have gained most as trading patterns shift, broker says
DOF wins tender contracts worth $192m from Petrobras Norwegian owner builds contract backlog into 2028
Italy clears $1.8bn Vitol takeover of refiner and charterer Saras Prime Minister's Office raised no objections to giant trader's deal
How one methanol ship can make up to 75 fuel oil vessels compliant with FuelEU Ahti Climate's Risto-Juhani Kariranta explains the carbon intensity calculations behind its pool drive
Flex LNG elects Ola Lorentzon to replace David McManus as chairman Lorentzon says 'company is well positioned for the next phase of LNG export expansion'
Start-up Ahti launches world's first pool to meet demands of FuelEU Maritime rules Finnish company's boss Risto-Juhani Kariranta explains how compliance allowances can be shared
Bulker owner Anglo International eyes upturn after weaker 2023 results Shipowner will target more exposure to the spot market this year and does not appear interested in buying ships
ONE says inflation 'was a drag' as 2023 net profit plummets by 94% Asian liner giant predicts marginal improvement in its financial performance for 2024 financial year
Red Sea diversions boost MOL's boxship bottom line, but not enough to lift full-year results Japanese owner says it would have posted an increase in annual profit, but for the poor performance of its liner segment
Samudera sees freight rates sink almost one third in first quarter Singapore-listed shipowner said the operating environment has been challenging due to port congestion
Channel closes after first container ship arrives at port of Baltimore Dockers handle 1,000 containers from MSC ship before window of opportunity slammed shut
Cargo IT meltdown hits Air France-KLM earnings Geopolitics and internal operating challenges prevented Air France-KLM from generating more cargo revenue during the first quarter, when the freight economy improved.
Inflation tempers Cargojet's outlook despite Q1 volume growth Modest growth in domestic e-commerce volumes plus improved aircraft utilization from network rebalancing helped Canadian airline Cargojet further stabilize performance during the first quarter, setting the table for growth this [...]
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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