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SEPTEMBER 2, 2024

Vadhvan Port to be epicentre of trade & industrial development: PM PSA Mumbai welcomes MGX2 service Moody's raises India's GDP growth to 7.2 pc for 2024 Govt mulls import duty hike on palm, soyabean oils SMPK announces Bengal Middle East Express service between Jebel Ali and Haldia Dock Complex Advantages of proposed Dighi Port Industrial Area in Maharashtra highlighted Tax payable on foreign export loadings by non-resident companies alters Global schedule reliability drops marginally in July Govt to fast-track 38 rail projects to boost coal transportation Andhra to be a logistics hub for eastern coast: CM LA, Long Beach ports absorb import surge in the US Bremer Lloyd Breaking New ground from the Start! Amazon India partners with Railways for faster deliveries Deendayal Port's OJ-III to be withdrawn for upgradation & strengthening Pertinence and Appositeness of Equipment and People in Seaworthiness Baltic Exchange Market Report (30 August 2024)

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SEPTEMBER 2, 2024

Hupac extends shuttle services Greek cities invest in green waste management Fiege sets milestone in strategic location Air cargo demand still climbing From XPO to AFS Valenciaport sees rise in Australian trade links Aldi adds in Lower Saxony Heavy-haul locomotives are back in South Africa A new chair for Railcom Offshore wind projects boost SOV market A brewing base in western France A takeover to boost growth at AMS "Curiosity of the Day"

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AUGUST 30, 2024

Ocean carriers 'fire blanks' ahead of China's Golden Week holiday Methanol 'happy hour' over, and decarbonisation will double freight rates Transpac benchmark Kerry Logistics: a mixed bag? Or...? TAAG Angola gears up to boost regional air cargo in southern Africa Fulfilment specialists pave the road for indirect US e-commerce imports U-turn on proposal to ban DHL 777F night flights at Brussels Former Polar Air US customer service chief Schirmer jailed for fraud

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AUGUST 30, 2024

VIDEO: Second Parramatta Class ferry enters service in Sydney The second of seven vessels in the new fleet of next-generation Parramatta Class ferries designed by Incat Crowther has arrived in Sydney, Australia, and is now in service. The vessels, which will Poor hull condition led to $500,000 flooding of 59-year old towboat Uncle Blue The National Transportation Safety Board has issued its report on a March 26, 2023, incident in which, at about 0500 local time, the towing vessel Uncle Blue began flooding when towing one

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AUGUST 30, 2024

Grimaldi Group receives fifth G5-Class Ro-Ro vessel Grimaldi Group took delivery of the fifth multipurpose Ro-Ro vessel of the innovative "G5" class at the Hyundai Mipo Dockyard in Ulsan, South Korea. Named Great Casablanca, this ship is designed to further enhance the quality of maritime transport services offered by the Neapolitan company between Northern Europe and West Africa, joining her five sister ships in the series. Measuring 250 meters i Maersk ship collision injures two crew A Maersk container ship manoeuvring into Fremantle Port has collided with a tall masted training ship, destroying its mast and injuring two crew members on the sail vessel, who were rushed to hospital. The 8,800 TEU Maersk Shekou was attempting to dock at around 6:30 am local time at Fremantle Port, when the vessel collided with the 55m Leeuwin and also clipped a museum building. Jay Weatherill, Stakeholder coalition joins Port of Portland to maintain container service at Terminal 6 The Port of Portland, supported by a coalition committed to marine container shipping in Oregon, presented Oregon Governor Tina Kotek with a detailed business plan to sustain container service at Terminal 6, the state's sole international box terminal. The report highlights the crucial role of marine container shipping at T6 for Oregon's economy and emphasizes the necessity of public investment t Wärtsilä and Eidesvik forge ammonia shipping deal Wärtsilä, a technology group, has entered into a contract with the Norwegian shipowner Eidesvik to provide the equipment needed to convert the offshore platform supply vessel (PSV) Viking Energy to operate on ammonia fuel. The vessel, currently under contract with energy giant Equinor, is set for conversion in early 2026 and aims to begin ammonia-powered operations within the first half of that y COSCO constructs twelve 14,000 TEU methanol-fuelled vessels On 29 August 2024, COSCO SHIPPING Heavy Industry and COSCO SHIPPING Container Lines signed a contract in Shanghai for the construction of twelve 14,000 TEU container ships featuring dual-fuel methanol propulsion. This latest order underscores COSCO SHIPPING's commitment to green and low-carbon development, as it strives to build an environmentally friendly fleet and minimize the environmental and Global schedule reliability drops to 52.1% in July Sea-Intelligence has released issue 156 of the Global Liner Performance (GLP) report, providing schedule reliability data up to July 2024. According to a statement, this report is extensive, covering schedule reliability across 34 trade lanes and over 60 carriers; however, this press release will focus on the global highlights. "Source: Sea-Intelligence.com, GLP Report, issue 156" COSCO forms partnerships with Bosch and Wallem Group COSCO SHIPPING Logistics and Supply Chain Management recently solidified a strategic alliance with Bosch (China) by signing a memorandum of understanding in Chongqing. This agreement paves the way for creating a strategic committee dedicated to leading a skilled team that enhances collaboration between the two entities. The partnership aims to foster comprehensive cooperation within the logistics Azule Energy selects Opsealog tool to cut emissions from its OSV fleet Opsealog, a data integration and analysis company for the maritime and offshore sectors, has secured a two-year contract with Azule Energy, Angola's largest independent energy firm. The contract aims to reduce fuel consumption and greenhouse gas (GHG) emissions from Azule Energy's Offshore Supply Vessel (OSV) fleet. Initial estimates by Opsealog suggest that the project could cut the fleet's GHG

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AUGUST 30, 2024

Port of Melbourne secures site for massive expansion Port of Melbourne, Australia's largest general cargo and container port, has secured a long-term lease of additional land from the Victorian Government to improve the state's supply chain efficiency. The port will lease approximately 290,000 sq m of the former Melbourne Markets site until 2066 in line with its existing 50-year port privatisation lease. This ... DOF Subsea lands $13m in deals for DSV in APAC region Norway's DOF Subsea has won a contract extension and a new contract award for one of its vessels in the Asia-Pacific region. A contract extension was awarded to the 2011-built dive support vessel Skandi Singapore. The vessel will be fully committed through the fourth quarter of 2024 with further options available into the first quarter of 2025. DOF ... FPSOs bounce back with $12bn in orders after a quiet year After a year without a significant FPSO order, the orderbook has recovered with $12bn for three units ordered since the second quarter of 2024. Petrobras has ordered the P-84 and P-85 FPSOs for the Atapu and Sepia fields respectively for $8.16bn from Seatrium. The Singapore firm was the only bidder after COOEC withdrew its proposal ... Frontline in 10-ship leaseback deal to clear Fredriksen debt New York- and Oslo-listed tanker giant Frontline has lined up a 10-ship sale and leaseback deal in China to pay back money borrowed from controlling shareholder John Fredriksen. The deal worth up to $512.1m involves CMB Financial Leasing's commitment to cover the refinancing of 10 suezmaxes, subject to execution of final documents, the company said. ... Satellite images show worrying 4 km trail from burning Sounion The Houthis yesterday released footage of a group of militants boarding and detonating explosives on the Greek Sounion oil tanker in the Red Sea. The dramatic video shows multiple explosives being laid across the ship. The Delta Tankers suezmax was attacked nine days ago, with its crew evacuating. Last Friday, the Houthis boarded the laden ... Decarbonising shipping could double cost of transporting goods by containers: DNV Decarbonising shipping could double the cost of transporting goods by containers, according to a new report from class society DNV. Ahead of next week's SMM, the world's largest shipping exhibition, DNV has released its latest Maritime Forecast to 2050, a 72-page publication now in its eighth edition. The in-depth report provides an updated outlook on ... US to hold Oregon's first-ever offshore wind lease sale The US Department of the Interior has revealed that it would hold an offshore wind energy lease sale off southern Oregon. The two areas to be auctioned on October 15, 2024, by the Bureau of Ocean Energy Management (BOEM) could generate more than 3.1GW if fully developed, which could power approximately 1m homes. The final ... Vattenfall offshore wind warm to power German steel manufacturer Swedish utility Vattenfall and German steel producer Salzgitter have signed a power purchase agreement (PPA) which will see electricity from the Nordlicht 1 offshore wind farm power steel production from 2028. The PPA provides for a share of 75MW of connected load from the Nordlicht 1 offshore wind farm to be made available to the ... Oceaneering bags several North Sea contracts The UK arm of Houston-based Oceaneering International has secured multiple contracts for decommissioning, inspection, subsea preparation, and installation support services in the UK sector of the North Sea. The contracts were awarded by multiple operators in the region and, when combined, total an estimated 65 days with options to extend the contract durations. These contracts ... Ocean Installer scores subsea tie-back project to Anasuria FPSO Marine construction contractor Ocean Installer, part of Moreld, has been awarded a sizeable project from a UK subsidiary of Hibiscus Petroleum for work on the Teal West development. The contract was awarded by Anasuria Hibiscus UK as part of a new frame agreement for offshore construction. The Teal West development in the Central North Sea ... Great Eastern strikes supramax bulker sale India's Great Eastern Shipping has offloaded one of its bulk carriers after a series of disposals of vintage MR tonnage as part of the company's product tanker fleet renewal initiative. The Mumbai-listed diversified owner said it had struck a deal with an undisclosed buyer for its 2011-built supramax Jag Rani. No price tag has been ... Marine battery manufacturer hails price drop Marine battery manufacturer AYK Energy has hailed a significant breakthrough in electric propulsion technology for ships with what it claims is the first battery sold at $300 per kWh. AYK founder Chris Kruger said the milestone will accelerate the adoption of battery powered vessels. He said the previous industry standard price was around $450-$550 per ... COSCO orders a dozen 14,000 teu ships COSCO Shipping, the world's fourth largest containerline, has ordered a dozen 14,000 teu ships at a sister firm in Jiangsu province rounding off one of the busiest months for global containership orders ever. The state-run line is paying $2.15bn for the methanol dual-fuelled ships which will be built at COSCO Shipping Heavy Industry Yangzhou The ...

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AUGUST 30, 2024

Tanker shipping's dark fleet to keep growing until 'margins are destroyed' Lars Barstad of Frontline has 'lost all faith' in the ability of sanctions and regulations to curtail the dark fleet... Grain season will boost panamax rates, but waning Chinese demand prompts caution The upcoming US grain export season is expected to strengthen low panamax rates. However, some industry commentators argue that the... The Lloyd's List Podcast: What is the best ship money can buy right now? Lloyd's List editor Richard Meade steps into the shoes of a shipowner to discuss the decisions that have to be... Yemen's twisted firestarters will go it alone The Houthis like to paint themselves as the legitimate government of Yemen. Legitimate governments do not typically run the risk... Sounion plight sparks memories of Limburg casualty 'Basically, the Houthis are not going to get anything from the owners. They are not going to get anything from... Frontline sounds alarm over dark fleet and repays Fredriksen debts Frontline has raised concerns about the growing share of crude oil shipping by the dark fleet of older, non-compliant tankers... Shanghai on track to breach 50m teu barrier China's colossal container hub on the brink of becoming the first port to post annual teu figures above the 50m... Chinese energy shipping firms foresee robust global tanker market amid domestic demand decline China Merchants Energy Shipping says concerns about the oversupply of tankers in the next three years may be a 'groundless... CMPort and Cosco Shipping Ports gain from recovery in exports The performance of their respective overseas ports was more patchy, depending on where they were positioned in relation to the... Maersk containership collides with tall ship in Fremantle Maersk Shekou struck tall ship STS Leeuwin and caused damage to the Western Australia Maritime Museum as it approached Fremantle... OOCL to take minor stake in Tianjin terminal for $49m Tianjin Container Terminal, the leading box terminal in Tianjin, has 13 berths and annual capacity of 6m Methanol 'happy hour' has come to an end, says DNV Maritime chief executive Decarbonisation is slowing down due to high shipbuilding costs, limited yard space for retrofits and a lack of investment in... Daily Briefing Houthis say they will allow Sounion to be towed | Insurer Brit hires tugs to attend tanker burning in Red...

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AUGUST 30, 2024

US LTL sector growth, efficiencies still fueled by loss of Yellow Reduced overall capacity, higher pricing and more dense and efficient networks are defining characteristics of the post-Yellow LTL market. New cold warehouse in Maine aims to lessen dependence on Boston A new warehouse due to open early next year in Portland for frozen and ambient temperature cargoes could cut transportation costs for shippers now using out-of-state storage and ports. Energy, tech projects filling project cargo pipeline EPCs report revenue gains and hefty project backlogs as manufacturing and traditional and alternative energy projects gain momentum. Carriers on India-US trades return to canvassing for contract support: forwarders Forwarders say carrier executives are seeking volume-linked pricing expectations after dictating terms over the last two months or so.

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AUGUST 30, 2024

Has MOL-backed engine maker created the silver bullet of multifuel combustion? Start-up claims its retrofittable ceramic marine engine is twice as efficient as conventional power trains Vancouver legal fight brews after dockers complain that crew members unloaded their own ship Union trades blows with government and CGT after container handling equipment was unloaded from BigLift ship Panama Canal limbers up to roll out sales of long-term transit slots Some in gas carrier sector may sit out auctions for 2025 slots Wavelength podcast: Sounion's insurance question and DNV says more than shipping needs a kick Tanker is on fire, abandoned, boarded by Houthis and possibly leaking oil Clarksons reveals painful demand hit on product tankers from crude 'cannibals' Analysts say dirty ships switching into clean trades explains some of the recent rate weakness 'No magic potion' for rates as Frontline cannibalises own product tankers, Barstad says Frontline CEO explains why forward bookings are simultaneously worse than second quarter but better than recent averages Futures markets pointing to sharp dips in container freight rates in 2025 Falls of up to 70% are priced in amid fears of growing overcapacity Wavelength podcast: MV Sounion's insurance questions, DNV says it is more than shipping that needs a kick, and a shipping fund manager gives us tips Tanker Sounion is on fire, abandoned, boarded by Houthis and possibly leaking oil Futures markets pointing to sharp falls in container freight rates in 2025 Falls of up to 70% are priced in amid fears of growing overcapacity Adani steps up shipping ambitions with $185m takeover of Astro Offshore Indian group expands oil and gas shipping by taking 80% stake in Dubai AHTS and PSV operation Russian tankers ply Arctic route as Putin seeks Urals crude outlet Kpler tallies eight domestic and overseas ships taking Northern Sea Route since July Torm investors to benefit from Sinokor fleet swoop as share price rides high Clarksons analysts believe using stock as currency is proving a smart move for Danish owner Gail (India) snaps up Shell LNG carrier on time charter Charterer growing fleet but long-term bids for next vessel remain under evaluation Two injured after Maersk container vessel hits training ship in Australian port Fremantle's famous maritime museum is also reported to have suffered damage during incident Great Eastern ships out supramax bulker in latest fleet-renewal deal Indian owner agrees to sell 2011-built vessel, following sale of elderly MR tanker in July Greenpeace backs hydrogen as it joins race for greener shipping fuels Hexagon to deliver hydrogen system in 2027 to Freire Shipyard in Spain Investor FourWorld taking Frontline and Euronav to court in 2026 over $2.35bn VLCC fleet sale US fund's legal action said to be without merit by Fredriksen tanker company 'Questionable actors': Frontline concerned as 'grey' tanker fleet grows Norwegian tanker owner says continued trading of older ships puts climate targets in jeopardy John Fredriksen debt to be repaid as Frontline seals new lease finance worth $512m Transaction with China's CMB Financial Leasing covers 10 suezmaxes Hardcore technology fans should not support one decarbonisation measure like a football team The industry needs to be nimble as 2030 emissions-slashing targets near DNV: The world must attack energy losses to hit emissions reduction goals Carbon capture and storage has potential, Norwegian class giant says 'It's time to get real': Invest today, don't wait for tomorrow's green fuel Shipping must back development of systems that lift energy efficiency until carbon-neutral fuels become available, says Knut Orbeck-Nilssen Tanker volatility to resume after soft summer earnings dip, says Frontline John Fredriksen's tanker giant hit by higher costs in second quarter New footage shows Houthi fighters planting bombs on Delta tanker Slick video shows multiple blasts carried out on vessel in Red Sea Libya oil shutdown leaves aframax owners in limbo, says Braemar Cargo cancellations loom as crude production halts again Cosco splashes $2.15bn on orders for a dozen methanol dual-fuel container ships Chinese shipping giant goes in-house with neo-panamax newbuildings ordered at compatriot Cosco HI Yangzhou

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AUGUST 30, 2024

Canadian Teamsters file 4 separate legal challenges to Appeals Board Canadian Teamsters have filed four separate challenges on Thursday in the Canadian Federal Court of Appeal challenging the Labor Minister's order for binding arbitration and the Canada Industrial Relations Board decision to stop the lockout and work stoppage. There are two challenges for each railroad.