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AUGUST 5, 2024

JNPA handles highest monthly container traffic in July 2024, up 16.39 pc Kodee Shipping making its presence felt in the shipping & logistics industry as a new star on the horizon Allcargo Terminals' consolidated net profit up in Q1FY25 CONCOR makes available 'e-Booking facility of containers'&'e-forwarding note' at all its EXIM terminals Waterways cargo up 5 pc in FY24 Major mineral imports up 80 pc Cabinet approves development of 8 key National High Speed Corridor projects SCI proposes to incorporate wholly owned subsidiary in GIFT City IFSC International Salvage Convention 1989 and Domestic Legislative Measures Baltic Exchange Market Report (2 August 2024) The impact of digitalisation on shipping and logistics

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AUGUST 5

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AUGUST 2, 2024

Spot rate volatility spreads amid disruption, bumping up long-term prices Analysis: CH Robinson - from worst to best...or beast? Air rate anger from Bangladesh exporters as carriers 'cash in' on logjams US trucking sector recovery still elusive, say latest market numbers DHL sees H1 profits plummet, but XPO gains momentum in North America Capacity crunch: which airlines have been adding air freight capacity?

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AUGUST 2, 2024

VIDEO: Hybrid research cat R/V Resilience joins PNNL Snow & Company, Inc. Seattle, Wash., recently completed construction and delivered the 50 foot hybrid research catamaran R/V Resilience to the Pacific Northwest National Laboratory (PNNL). It is the first and thus ICS report sees need for many more hydrogen carriers Hydrogen is widely seen as key to meeting global decarbonization ambitions and a large fleet of specialist hydrogen carrier vessels will be needed to meet projected world demand. To meet a global Vard books order for new energy construction vessel (ECV) There's a growing interest in construction vessels that can serve both the offshore wind and oil and gas subsea construction markets. Now Wind Energy Construction A/S has placed an order with Fincantieri Mark Rayha to succeed Kevin Graney as president of Electric Boat Mark Rayha, senior vice president and chief operating officer at General Dynamics Electric Boat, will become president of the company effective December 1, succeeding Kevin Graney, who has informed the company that

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AUGUST 2, 2024

Wan Hai Lines celebrates naming of two boxships Wan Hai Lines held a ship naming ceremony for WAN HAI 375 and WAN HAI 377, along with a charity donation event, on 1 August at the Japan Marine United Corporation TSU Shipyard. The event was jointly officiated by Chao-Hon Chen, honorary chairman of Wan Hai Lines, Charles Chen, president of Wan Hai Lines Japan and director of Wan Hai Lines Singapore, and Nobuyuki Nada, president and CEO of Japan M Beacon lights up shippers' supply chains Visibility in supply chains is the buzz word but who owns the data remains a critical test and for some just knowing where your box is, can be useful, but collecting data that is proprietary to your own company can offer major insights into the efficiency of supply chains. Carriers offer alerts and forwarders offer a greater understanding of entire supply chains, but by having your own data set s Freeport East, ITES forge alliance to propel green transport innovation Freeport East has entered into a strategic partnership with Innovating for Transport and Energy Systems (ITES) to advance clean transport technologies and enhance bilateral trade. ITES, a program spearheaded by UK energy innovation experts Energy Systems Catapult in collaboration with the Indian Institute of Science, aims to revolutionize green transport solutions and attract substantial private- ONE eyes cleaner fuel delivery in Shanghai Ocean Network Express (ONE) and Shanghai International Port Group (SIPG) have signed an agreement to jointly promote the development and supply of alternative marine fuels. ONE and SIPG will jointly explore and develop alternative marine fuels to be supplied to the pan-Japanese operator's boxships in Shanghai port. ONE said that this not only helps promote the energy transformation and sustainabl Hapag-Lloyd introduces 66 new trainees In Hamburg, 66 young men and women are beginning their training with Hapag-Lloyd. Among them, 14 will train as ship mechanics, while 18 will become assistant officers, with roles split between 14 nautical, three technical, and one electronic. Additionally, 17 trainees will pursue shore-based careers, such as shipping agents. Hapag-Lloyd is also welcoming 17 dual work-study students who will earn Hiab unveils new recycling crane Hiab, a division of Cargotec, has introduced the new JONSERED iZ.18R HD recycling crane, featuring the advanced SPACEevo control system for enhanced productivity and safety. This new model marks JONSERED's entry into the 18 to 19 tm market segment, offering a robust and durable mechanical structure. The JONSERED iZ.18R HD, equipped with the SPACEevo control system, sets new standards for safety a Maersk announces temporary adjustments to Gulfex service Effective 31 July, with the sailing of the MAIPO from Altamira, Mexico, Maersk implements the following changes to the Gulfex service: - Mexico Alternating Port Calls: Port calls will alternate between Veracruz and Altamira every two weeks. - Brazil Alternating Port Calls: Port calls will alternate between Navegantes and Paranaguá. These changes aim to address operational bottlenecks and enhance CMA CGM strengthens logistics coverage in Congo CMA CGM aims to enhance its coverage in the Democratic Republic of Congo by expanding its current feeder system. The French carrier will introduce an innovative intermodal solution for the capital of the country Kinshasa. This new offering seamlessly connects with the ASAF, MIDAS 1, and EURAF 1 services, extending the company's inland reach to Kinshasa. CMA CGM provides two options for customs cl

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AUGUST 2, 2024

Prokopiou tanker venture emerges A new shipping venture from the Prokopiou clan in Greece has emerged with brokers reporting a first LR1 purchase. Marielena Procopiou, the daughter of Greek tycoon George Prokopiou, is behind a new shipowning outfit named Akrotiri Tankers. The company quietly made its first purchase in May, adding the 2008-built, 77,000 dwt Hafnia Thames from Hafnia. The ship ... World Bank deciphers the correlation between disruption and increasing box rates The 2020s have marked a period of unprecedented disruption for liner shipping, which in turn has created the conditions for the greatest earnings the sector has ever recorded. Quantifying how this disruption - whether it be covid, the drought in Panama, or the Red Sea shipping crisis - equates to freight rates increasing has hitherto ... New Jones Act shipping firm launches Crowley and SEACOR Holdings have officially launched Fairwater Holdings, combining the pair's American petroleum and chemical tanker fleets. Fairwater is active in all major Jones Act coastwise tank vessel trades. The fleet consists of 31 owned vessels, including medium-range product tankers, aframaxes and articulated tug-barges (ATBs). Fairwater also provides shipmanagement services for 20 third Oceaneering clinches FPSO maintenance strategy contract in Brazil Houston-based Oceaneering has secured a contract to design the maintenance strategy for a floating production, storage, and offloading (FPSO) vessel set to be installed offshore Brazil. The project, which will be managed by Oceaneering in Rio de Janeiro, aims to optimise the FPSO's performance, enhance reliability, and ensure smooth operations, Oceaneering said without disclosing further ... TDI-Brooks wins Woodside survey work off Trinidad US-based offshore surveyor TDI-Brooks has been awarded geotechnical work for Woodside Energy's Calypso development off Trinidad and Tobago. The contract will see the deployment of TDI-Brooks' most recent addition to its survey fleet the 2000-built Nautilus - the former offshore support vessel Nautical Geo. TDI-Brooks operates six research vessels and this award will be the ... TRIG cuts stake in German offshore wind farm The Renewables Infrastructure Group (TRIG) is to offload part of its stake in the 330 MW Gode Wind 1 offshore wind farm in Germany. The London-listed green energy investment company said it had struck a €100m ($108m) deal with infrastructure investor Equitix to part ways with a 15.2% stake in the wind farm at a ... Petrofac awarded more work on Dutch carbon capture and storage project UK energy services company Petrofac has won a multi-million-dollar front-end engineering design (FEED) contract for the Aramis CO2 capture and storage project in the Netherlands. Petrofac's work scope involves decommissioning topsides and installing a new repurposed injection platform connecting to the Aramis CO2 distribution network. The contract follows the award of a FEED to Petrofac ... MOL showcases landmark wind-assisted gas carrier One ship type that has yet to embrace wind power could soon see sails installed. Japanese shipping giant Mitsui OSK Lines (MOL) has just received an approval in principle from ClassNK for the design of a membrane LNG carrier featuring two of MOL's Wind Challenger sails. Detailed design work is currently underway for a new ... ICS report predicts more than 400 hydrogen carriers will be needed by 2050 The International Chamber of Shipping (ICS) has launched a new report identifying global hydrogen demand to 2050, with South Korea, Japan and Europe being the first markets for hydrogen. The report highlights that to meet just 30m tonnes of annual global green hydrogen demand, the world would require up to 411 new hydrogen vessels - ... Veer selects Fosen Shipyard to build revolutionary boxships Bahamas-headquartered Veer has selected Germany's Fosen Shipyard to build its first two wind-powered and hydrogen-assisted container vessels with an aim to launch clean container services from 2027. "We are delighted and excited that Veer has chosen Fosen to build the first zero-emissions container carrier in Germany," said Carsten Stellamanns, CEO of Fosen Shipyard. "Together with ... BP executive appointed OCIMF chair The Oil Companies International Marine Forum (OCIMF) has appointed BP's senior vice president for shipping Lambros Klaoudatos as its new chair. Klaoudatos takes over the position from Nick Potter, who has been involved with OCIMF at board level since 2014 and has been the organisation's chair since 2022. Klaoudatos has almost 30 years of industry ...

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AUGUST 2, 2024

Shipping shares fall sharply amid widespread Wall Street selloff The past few days' drop in US-listed shipping equities is just the latest leg down since a peak was reached... Liner profits still rising and should peak in third quarter, says Matson How profitable have Red Sea disruptions been for container liners? One indicator is the equity price of niche transpacific player... Iron ore stockpiles and uncertain Chinese growth are a spectre on dry bulk horizon BIMCO chief shipping analyst Niels Rasmussen said strong Chinese imports might not be the usual good omen for the dry... D'Amico International seeks more cover after spot rate party With leverage down to just 9%, Italian owner can concentrate on acquisitions and rewarding shareholders, says new chief executive Carlos... Green hydrogen is a Catch-22 for shipping Holy grails are wonderful things. But as anyone who has read The Da Vinci Code knows, they can be that... Jones Act mammoth Fairwater Holdings formally launches Fairwater Holdings, the Jones Act, tank vessel joint venture by Crowley and Seacor, has formally launched. The company's fleet consists... Uniper offers bio-LNG in Rotterdam Mass-balanced bio-LNG demand could pick up in 2025, as the EU will allow this form of carbon accounting approach to... Marinakis' Nasdaq arm on cusp of rebranding as Capital Clean Energy Carriers Hot container market will give 'optionality' on further containership disposals as owner pivots to gas shipping Lloyd's List Shipping Podcast: Is the bunker sector doing enough to repair its image? In this week's edition of the podcast, prominent voices from the marine fuel sector discuss the way forward for the... Iran retaliation fears add to shipping volatility as attacks threaten trade Security experts believe Iran and its proxies will launch retaliatory attacks against Israel more intense than April's, with abundant miscalculation... P&I clubs to push for further premium hikes next year, Gallagher predicts Eight to 10 potential pool claims yet to be reported, on top of 12 as of renewal deadline EU states support new IMO fund to collect carbon price revenue IMO member states to resume talks on a carbon price and a fuel standard at the end of September as... China's Highton Development buys three panamaxes after 81% profit surge in first half Following the acquisition of 10 bulkers in the first half of the year, Highton is poised to buy more vessels... Royal Fleet Auxiliary personnel to strike over pay dispute A Ministry of Defence spokesperson said ministers have met with the RFA twice in the first few weeks of the... Daily Briefing How relentless rise in asset prices steers dry bulk fleet strategies | Governments may have to foot bill after dark...

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AUGUST 2, 2024

Hub Group regains rail share, while Schneider's Q2 volume stays flat While intermodal demand is not strong in the eastern US, there is surging demand in Southern California that could result in providers levying peak season surcharges on some shippers. Matson's expedited China business fuels Q2 earnings gains Matson's second quarter financial rose well above both last year and the consensus estimate as shippers looked to its expedited ocean services for relief from high air cargo rates. Decades on, 'supply chain visibility' remains a work in progress Many tools tend to focus on providing visibility centered around the "planned" supply chain, but perhaps what the industry needs is a shift in mindset that puts greater attention on exceptions, writes analyst Lars Jensen. US LTL carriers gaining shipments despite 'soft' freight demand Large LTL trucking companies including XPO, Saia, ODFL and Knight-Swift are increasing volumes by diversifying and going deeper into shipper supply chains as they add customers. Overbookings, service changes roil India-US East Coast loads: forwarders With major liners on the trade lane reporting full ships over the last few weeks, incidents of cargo rolling have been more pervasive, forwarders say. Disruptions, tight capacity boost quarterly MPV sentiment index The latest iteration of the multipurpose sentiment index reveals short-term optimism and little relief in sight for longer-term capacity pressures.

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AUGUST 2, 2024

Trafigura consortium agrees to buy major French refinery and two terminals Esso selling Fos-sur-Mer plant and port facilities in Toulouse and Villette-de-Vienne Algoma Central reports 'challenging quarter' as profits plunge by nearly half Mild winters temper road salt demand for dry bulk fleet Shipowners debate: Will LR2 tankers stay in the product sector lane or flip back into crude? Aframax tanker demand is tightening and could lure LR2s back to crude 'Robust access': Andy Dacy comments on JP Morgan's attraction to US-flag sector Increasing US government need for assets and technology changes seen as drivers Wavelength podcast: LNG-fuelled collision, Scorpio sets the pace and West P&I heads east A collision between an LNG-fuelled bulker and one at anchor dominates this weeks industry chatter Financial strength of big 12 P&I clubs at all-time high, says Gallagher Free reserves have reached highest ever level after strong investment and underwriting results Harland & Wolff secures new $25m loan from US financial player Titanic builder confirms CEO departure and stops ferry service Brazil's Transpetro seeks international yards in hunt for product tanker newbuilds Tanker owner wants vessels that are dual-fuel ready - and ethanol is on the menu Royal Fleet Auxiliary officers set to strike for first time as 'last resort' in pay dispute RMT ratings members also held one-day strike Atlantska Plovidba turns around loss as it keeps lid on costs Bulker owner logs higher revenue in first six months New Fortress Energy moves to reassure on its Fast LNG production Company says first cargo will deliver to its terminal in La Paz, Mexico Vitol traders share record $6.4bn pay bonanza as disruption reigns Commodities and shipping giant rewards about 450 partners after $13bn profit earned for 2023 Container forward rates nosedive amid signs of peak season ending early Exception is US East Coast because of lingering threat of port strikes Panamax bulker owners cash in from fertiliser trade revival, says Braemar Positive impact on freight rates from the trade gain amplified by effect on tonne-mile demand Booming boxship asset prices lift Capital Product Partners profit Evangelos Marinakis-controlled owner has many options available as it divests its legacy fleet GasLog Partners lines up LNG carrier for sale-and-leaseback deal Profit inches higher but revenue hit by fixtures in past 12 months Booming boxship asset prices lift Capital Product Partners profits The Evangelos Marinakis-controlled owner is divesting its legacy fleet Wavelength podcast: LNG-fuelled collision, Scorpio sets the pace, West P&I heads East A collision between an LNG-fuelled bulker and one at anchor dominates this weeks industry chatter MRs dominate tanker sale-and-purchase activity as focus switches to modern ships BRS says medium-range vessels have accounted for 41% of secondhand deals this year VLCCs expected to see rate uptick, veteran shipping analyst says Cyclical upswing in the cards, Jefferies' Nokta argues, but product tankers still tipped to be stronger 'Key milestones': Capital Product Partners seals two major shifts in $4bn energy pivot LNG carrier and boxship owner will change from master limited partnership to corporation Wind Energy Construction heads to Vard's Vietnam yard for offshore newbuilding Norwegian shipbuilder nabs deal CPLP converts into corporation and changes name to 'Capital Clean Energy' LNG and container ship owner will not be a master limited partnership any more How tanker chartering strategy fuelled stellar profit at d'Amico International Shipping Move into larger tankers in wake of Red Sea crisis is working out Procopiou clan clears path for potential stake sale in Dynagas LNG Partners Company files shelf registration with authorities for security offerings worth up to $400m GasLog Partners lines up LNG carrier for sale & leaseback deal Profit inches higher but revenue hit by fixtures in last 12 months Damen orderbook hits record €11bn as newbuilding deals roll in Dutch shipbuilder also logs best-ever revenue Wind Energy Construction heads to Vard's Vietnam yard for offshore newbuilding Alesund-based shipbuilder nabs deal from Norwind Offshore-based outfit Boss of Finnish owner Meriaura Group quits as board chair steps in Outgoing boss will stay until 30 September 'Opinion, not science': Scrubber users defend technology amid green lobby ban pressure Alliance of shipowners with exhaust gas cleaning systems installed say criticism based on opinion not science World's first zero-emission container ship moves a step closer as wind start-up picks yard Wind-powered boxship start-up has secured initial financing and is doing another fundraise Emanuele Grimaldi alarmed by protectionism during 'very delicate period' for shipping ICS chairman reflects on tricky landscape in which he must replace long-standing secretary general Guy Platten MOL extends its telescopic sails to LNG carrier newbuilding Shipowner claims AiP first for design developed with Hanwha Ocean Asset players Embiricos and Gianluigi Aponte in secondhand container ship deal Greek container ship selling may accelerate now that values are rising Billionaire ex-Glencore oil boss among those charged in West African bribery case UK's Serious Fraud Office names five ex-Glencore crude traders facing a court hearing in September $5.7bn cartel: Financial strength of big 12 P&I clubs at all-time high, says Gallagher Free reserves have reached highest ever level after strong investment and underwriting results Shipping hopes for new dawn in Europe as Ursula von der Leyen looks to hit the reset button Washington's green fuel investment serves as a wake-up call for Brussels Swedish owner Donsotank adds to dual-fuel product tanker orderbook Swedish owner says new vessel will be delivered in 2027 Red Sea crisis helps to nearly double first quarter profit at K Line Japanese shipowner was also boosted by strong performances by its dry bulk and car carrier arms Shipbuilder Fincantieri picks state finance expert as new chairman Biagio Mazzotta replaces Claudio Graziano, who died in June Vitol adds to coal and oil products reach with $209m deal to buy Noble Resources Trading giant says it will grow the business of Singapore rival 'Doing the maths': Teekay Tankers targets significant capital investment in fleet renewal Rising prices offer opportunity to sell and reason for prudence Why the World Maritime University is seeking budding bridge builders WMU president Maximo Q Mejia says all nations must speak with one voice on sustainability, safety and efficiency Singapore's Seatrium posts first profit since merger Offshore and marine giant says it now has the highest net order backlog in a decade Rising China box freight rates lift Matson profits Hawaii container volumes hampered by tourism dip caused by wildfires

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AUGUST 2, 2024

Amazon flying to generate 20% of Sun Country Airlines' revenue Sun Country Airlines expects to double its cargo revenue once a revised transportation contract with Amazon is fully implemented in 2026.