TOTE Services and Philly Shipyard christen second NSMV Patriot State TOTE Services LLC and Philly Shipyard yesterday christened the second of five National Security Multi-Mission vessels (NSMVs), Patriot State, with U.S. Secretary of Transportation Pete Buttigieg, Secretary of the Navy Carlos Del
Shipowners urged to act now to benefit from vessel pooling for FuelEU compliance CarbonLeap, an independent organization for managing monetized carbon reductions in global transportation, has urged shipowners at risk of non-compliance to take immediate action to leverage the cost-saving benefits of vessel pooling for meeting FuelEU Maritime compliance targets. This applies to commercial vessels over 5,000 GT. Delaying the decision to join a pool until the compliance deadline
Maersk adjusts PSS from Indian Sub and Middle East to North America Maersk will be adjusting the Peak Season Surcharge (PSS) for shipments from the United Arab Emirates, Bangladesh, Bahrain, Bhutan, India, Iraq, Jordan, Kuwait, Sri Lanka, Maldives, Nepal, Oman, Pakistan, Qatar, Saudi Arabia, and Yemen to the United States and Canada East Coast & Gulf. The revised PSS will take effect on 11 September 2024, for the container types listed below. The revised tariff l
US ports on digitalization track Digital technologies have the potential to significantly transform how various components of maritime operations work together, from administrative and logistics functions to ship and terminal operations. This technological evolution impacts five key areas: rates, booking, documentation, customs procedures, and supply chain control/visibility. According to a report by the International Transport
CMA CGM alters EMED 2 service CMA CGM's Short Sea Lines Division announced an upcoming change in its EMED 2 service, effective from Week 39 of 2024. Starting 24 September, the service will begin calling at Alexandria's TMT terminal, opening up seamless, direct connections between Levant ports and global destinations. The EMED 2 service will feature two vessels, each with a nominal capacity of 800 TEUs. The rotation for this l
MSC vessels flock to India's Vizhinjam hub amid evolving regional transshipment flows India's new container transhipment hub at Vizhinjam is making rapid strides, with Mediterranean Shipping Co. (MSC) seen to be its most potential long-term liner customer. The Geneva-based carrier has already hosted a string of vessels at Vizhinjam, a deep-water facility under Adani Ports' expanding terminal network in India, which began trial operations in early July with a Maersk call. Vizhinjam
CFL multimodal introduces new intra-Europe rail service CFL multimodal announces the launch of its new intermodal connection between Luxemburg's Intermodal Terminal Bettembourg-Dudelange and Romania's Railport Arad in Curtici. With the first train running on 8 October and three weekly rotations from Bettembourg Dudelange to Curtici, this new connection will link Western Europe with Romania and more generally with the Balkans and Turkey. "The increasin
ECT Rotterdam adopts shore power to cut CO2 emissions Hutchison Ports ECT Rotterdam (ECT) will install shore power facilities at its container terminals in the coming years, following an agreement with Rotterdam Shore Power (RSP), a partnership between Eneco and the Port of Rotterdam. The first vessels are expected to connect to the shore power by 2028. Once fully operational at both terminals by 2030, around 5,000 sea-going vessels will be able to
Port of Antwerp-Bruges launches electric-built bike path In the Antwerp port area, a new 350-meter bike path has been built using electric machinery, marking a significant step in maintaining cycling infrastructure and aligning with the Port of Antwerp-Bruges' ambitious climate goals. This project, the first of its kind in Belgium to use a combination of electric machines for a bike path of this scale, is part of the port's broader effort to reduce dir
Maersk, Hapag-Lloyd share finalised service maps, including Cape of Good Hope alternative With around five months to launch, Maersk and Hapag-Lloyd have shared an update covering finalised service maps and how the network has evolved since the announcement of the Gemini Cooperation in January 2024. The two partners have also presented an alternative Cape of Good Hope network due to the ongoing crisis in the Red Sea. FACTS ABOUT THE TWO NETWORKS Trans-Suez Network Cape of Good Hope Net
HMM unveils its new investment strategy HMM maps out a mid-to-long-term strategy to expand its business portfolio for future growth and proceed with global green initiatives. Under the sustainable growth plan, the South Korean ocean carrier will invest a total of KRW23.5 trillion (US$17.5 billion) billion by 2030, with KRW11 trillion focussing on the container business, KRW5.6 trillion on the bulk business, KRW4.2 trillion on the integ
Latin America's shipping trade: Key leaders and emerging followers Latin America is undergoing a significant transformation in the maritime shipping industry, with several countries vying to become leading port hubs in the region. As global trade continues to shift and evolve, the ability of a country to strengthen its shipping and port connectivity becomes a critic
Castor Maritime snaps up its third boxship Cyprus-based Nasdaq-listed bulker and boxship owner Castor Maritime is bolstering its fleet with a secondhand 1.850 teu vessel worth $16.49m. The Petros Panagiotidis-led company said the unnamed 2009-built boxship would deliver by October this year and go on a 4-month charter at $29,000 per day. Castor will finance the deal with an unaffiliated third party ...
COSCO in for LNG newbuild brace at Dalian COSCO Shipping Energy Transportation (CSET) has set out to expand its fleet with LNG carrier newbuilds at Dalian Shipbuilding Industry Co (DSIC). The listed oil and gas shipping arm of COSCO Shipping Group has approved the construction of two 175,000 cu m vessels worth around $254.6m each through its subsidiary COSCO Shipping LNG Investment. COSCO's ...
Pertamina International Shipping lays out plans to grow fleet to 500 ships Major state-run Asian lines making massive expansion plans is becoming a theme this September. Splash reported today on HMM, South Korea's flagship, earmarking $17.5bn for expansion through to the end of the decade, while COSCO, China's largest shipowner, has recently put pen to paper to a mammoth series of dry bulk and container vessels. Getting ...
Atlantic Navigation strikes $183m deal to sell OSV fleet Singapore-listed OSV player Atlantic Navigation is selling its 20-strong fleet to MAG Offshore Investment for $183m. The Middle East-focused company, which operates out of the UAE through its subsidiaries, Atlantic Maritime Group and Atlantic Ship Management, said it expects a gain on disposal of about $20.57m based on the aggregate net book value of the ...
Shearwater pens survey deal on Jubilee field off Ghana Norwegian offshore seismic vessel player Shearwater GeoServices has won a contract for 4D seismic monitoring at the Jubilee field offshore Ghana The two-month survey will be conducted in early 2025, utilising capacity from Shearwater's fleet, supported by the company's technology offering and operational experience. This will be the first contract conducted by Shearwater Ghana, in ...
Shocking seafarer stats create urgent call for change at sea The global shipping industry must take steps to improve working conditions across seven key areas and urgently improve seafarer well-being, make life at sea safe and inclusive, and future-proof against the changing needs of the maritime labour market to attract future generations of seafarers according to a new 24-page report published today by the Diversity@Sea ...
HMM details $17.5bn expansion plans South Korean flagship HMM today unveiled its expansion plans through to the end of the decade, setting aside a massive KRW23.5trn ($17.48bn) that will see its container fleet nearly double while its tanker and dry bulk fleets will triple in size come 2030. Among the outlay for the state-run line, HMM will spend KRW11trn to ...
Seaonics to commercialise charging solution for zero-emission offshore wind ops Following successful in-port and offshore prototype testing, Norwegian lifting and handling specialist Seaonics wants to commercialise its Ocean Charger solution for electric SOVs. High-voltage charging tests were conducted in port to charge the batteries on the 2023-built Rem Offshore-owned diesel-electric hybrid CSOV REM Power and offshore from a charging point mounted on a wind turbine. ...
Winners and losers from next year's great global liner reshuffle As the dust settles on yesterday's series of major liner announcements ahead of February's alliance reshuffles, analysts suggest the winners from the slew of releases are the freight buyers. THE Alliance will become the Premier Alliance from next February, with Ocean Network Express (ONE), HMM and Yang Ming Marine Transportation as partners, and Mediterranean Shipping ...
Star Bulk offloads oldest ship Nasdaq-listed Greek dry bulk giant Star Bulk Carriers has revealed the sale of its oldest vessel in the fleet. The Petros Pappas-led owner and operator has agreed to offload the 2004-built capsize Star Triumph for $20m. The buyer has not been disclosed. The 176,300 dwt scrubber-fitted ship, the company acquired for $14.2m in October 2017, ...
CMB faces potential $46m shareholder payout for Euronav takeover A court in Belgium has ruled that the Saverys family's Compagnie Maritime Belge (CMB) miscalculated its offer price during a mandatory bid for Euronav shares. Euronav and CMB said in a statement that the Market Court in Belgium had "largely rejected" claims brought by US investors FourWorld Capital Management over CMB's mandatory takeover offer for ...
ZIM renews ties with MSC on the transpacific Among a welter of major liner announcements yesterday, Israeli carrier ZIM has renewed ties with Mediterranean Shipping Co (MSC), signing a three-year cooperation agreement on voyages from Asia to the US east and Gulf coasts. The agreement between ZIM and MSC includes slot swap and vessel sharing agreements across six services. "Consistent with ZIM's focus ...
Nanjing Tanker orders chemical tanker in Jiangsu Nanjing Tanker Corporation, part of China Merchants Group, has tapped a sister company to build an 18,000 dwt chemical tanker as it starts a fleet rejuvenation programme. Nanjing Tanker has contracted China Merchants Jinling Shipyard to build the vessel, which is costing $34.5m to complete. Nanjing Tanker's fleet today comprises 43 vessels, made up of ...
HGK Shipping develops new gas ship design Europe's largest inland shipping company has come up with a ship design that can transport cold liquefied ammonia (NH3) and liquefied CO2 (LCO2) along rivers. Germany's HGK Shipping has unveiled its Vanguard design which features a gas ship that is 125 m long and 17.5 m wide and features a wind-assisted propulsion system. The Vanguard ...
The numbers don't lie: October US port strike would be 'cataclysmic' Asian exports of manufactured goods to the US could shift to west coast ports, but building supplies and wine from...
US, UK announce new Iran and Russia sanctions in response to missile transfer The US and UK introduced new sanctions on Tuesday against Russia and Iran following the latter's decision to provide Moscow...
Maersk expects operational challenges to linger following Red Sea return A resolution to Red Sea disruptions will be no quick fix for liner shipping when it re-embarks on its traditional...
Too much finance chasing too few good projects, forum told Banks are forgetting that shipping is not always a sunny place to invest, a Capital Link conference was warned
Red Sea attacks and crew shortage represent fresh risks for shipping, ICS survey shows Physical attacks against commercial shipping stood out as one of the biggest risks in a survey of over 100 shipping...
Dynagas Partners doubles adjusted second-quarter profit Recent sale and leaseback refinancing has left two of US-listed partnership's six-ship fleet free of debt
Owners looking for alternatives to the alternatives As the regulatory net begins to close and the opacity surrounding green fuels shows no signs of lifting imminently, shipowners...
China Merchants Group's Nanjing Tanker Corp to upgrade fleet with tanker quintet The Nanjing-based shipowner orders one tanker from CMG's Jinling-Dingheng and plans for four more from GSI
Türkiye's diesel exports to EU hit four-month high in August August export volumes around 550,000 tonnes mark the third-highest on record, with Romania and Greece receiving the most
Pertamina planning major expansion by 2034 PIS plans to double its owned fleet within 10 years. It currently has 15 newbuildings on order with deliveries expected...
Expect further rate hikes at 2025 P&I renewal, Gallagher warns Owners should budget for double whammy, with big increase likely in GXL levy
Kaiko Systems launches new AI shipmanagement tool 'While AI technology has been the hot topic of the year, no other company in maritime has launched a product...
HMM sets out plan to invest $17bn in greener fleet and logistics growth More than 60% of HMM's mid- to long-term investment budget will be allocated to securing around 70 low- and zero-carbon...
New container alliances to boost demand for feeders The recent shakeup of container alliances will boost demand for feeder ships, although worries and uncertainty persist about the overall...
Dry bulk facing 'a rough market for the next two years', says d'Amico Dry director D'Amico Dry director Emanuele d'Amico made the grim prediction during the Capital Link Forum in London, but his fellow dry...
Gemini carriers join MSC in offering Red Sea contingency plan Maersk and Hapag-Lloyd announce revamped Gemini network to customers, including two routing options dependent on Red Sea developments
West poaches Mertens from Gard New appointee will work alongside predecessor through next renewal round
QatarEnergy returns to Hudong-Zhonghua for six landmark QC-Max LNG carriers The new tonnage is part of QatarEnergy's ordering spree to support the expansion of gas projects
Tsakos foundation opens Greece's first non-state maritime academy Ecumenical patriarch Bartholomew blessed new institution, which starts with 40 students on ship's masters' and engineers' courses
Red Sea crisis won't end until Gaza war does, veteran diplomat warns The diplomat who led the UN mission to salvage the FSO Safer and prevent a catastrophic Red Sea oil spill has...
Daily Briefing MSC sets out solo offer as alliances reconfigure | MSC chief Soren Toft: 'We have the scale and strength to...
US retailers give big upgrade to September import forecast amid strike threat The Global Port Tracker now projects US imports this month will hit 2.31 million TEUs, up 14% from the same month a year ago; last month's report expected the year-on-year increase for September to be 6.5%.
Asian ports at the fore in updated Gemini alliance network schedule The revised service plan from partners Hapag-Lloyd and Maersk includes scenarios via both the Cape of Good Hope and Suez Canal, with a decision due next month on which option will be chosen when the alliance launches in February.
FMC won't block Gemini alliance, but vows tight monitoring The US maritime regulator sees no reason to block the new vessel-sharing alliance run by Maersk and Hapag-Lloyd, but the agency's head still has concerns about the deal.
HMM to spend $17.5 billion on fleet, equipment by 2030 Most of the investment will be allocated to expanding the container shipping division that aims to grow to 130 ships in the next five years.
Import surge pushing Los Angeles outbound spot truck rates higher Shipper-paid spot truckload rates out of Southern California rose 6 cents per mile in August from July, despite the national shipper-paid spot rate average falling 6 cents during the same period.
US sanctions array of ships for carrying Iran's 'lethal aid' to Russia Russian shipowner Dzhamaldin Emirmagomedovich Pashaev also targeted by Washington
Crude tankers could benefit from South America's refinery challenges Crude production poised to grow faster than continent's ability to refine it, meaning barrels will be exported
Technology issues could delay newbuilding peak in shipping supercycle, says Martin Stopford Veteran market analyst says companies need to be ready to exploit the energy transition when it happens
Sailing through Houthi Red Sea hotspot now is 'insane', says shipowner Owners of feeder container ships shun higher rates saying it is just too dangerous
Leonhardt & Blumberg bumps up debut tanker order with two more MRs German owner expands Chinese newbuilding deal with Guangzhou Shipyard International to four vessels
'Greener shipping a unique market opportunity', says UK maritime minister 'Every seafarer deserves a safe, positive work environment,' Mike Kane
Size of LNG carriers set to increase as market matures, Energos says 'To us, it feels like the LNG market has finally arrived'
US judge throws out Foremost Group's Miami effort to seize repair yard's funds Court rules funds are not South Florida, so cannot be seized there
Court probes broker VLCC fleet valuations in Frontline-Euronav mega-deal Ruling questions 'coincidence' of assessments aligning with clients' interests
DOF Group hatches dividend plan amid offshore upswing and closing Maersk deal Oslo-listed owner describes busy end of 2024 at capital markets day
Sailing through Houthi Red Sea hotspot now is 'insane', says owner Owners of feeder container ships shun higher rates saying it is just too dangerous
Dynagas LNG Partners profit slides on debt reduction effects Procopiou family-founded outfit stays in the black for 19th consecutive quarter
'Pick your poison': How the US presidential election could shape dry bulk What influence will the winner of the race to the White House have on dry bulk shipping markets?
One-fifth of Russian-trading tankers rejecting help of Danish pilots Report highlights dangers of older vessels navigating narrow straits
West P&I club names successor to 40-year veteran for top underwriting job Bart Mertens to take over from retiring Simon Parrott
Genco Shipping mulls dividend hike as owner explains why things might be looking up Manhattan-based owner has a formula for returning capital, and it's getting tweaked
Tanker sellers willing to hold out for higher prices as crude freight markets improve, researcher says Seaborne Shipbrokers' Eva Tzima highlights more veteran VLCCs and suezmaxes being marketed for disposal
Seafarer sues CMA CGM after former chief engineer accused of battery and sexual harassment Fired engineer agreed to hand in his mariner's licence to end Coast Guard case
P&I Club West names successor to 40-year veteran for top underwriting job Bart Mertens replaced chief underwriting officer Simon Parrott after four decades at West
Owners of older tankers entering 'rushed selling mode' as surveys approach, researcher says Seaborne Shipbrokers' Eva Tzima highlights more veteran VLCCs and suezmaxes being marketed for disposal
A fifth of Russian-trading tankers rejecting help of Danish pilots Report by Danwatch highlights ongoing dangers of older vessels navigating narrow straits
Norden capesize sale talk fuels frenzy of big-bulker dealmaking Sale-and-purchase activity for capesizes accelerates amid burgeoning freight markets
Evangelos Marinakis adds MPSVs to landmark offshore ship order in China Greek tycoon tasks Breeze Ship Design with developing new vessels
MSC container ship linked to oil slick in South Africa anchorage Bad weather hampers search to discover extent of spill
China's new scrap-and-build incentive scheme leaves South Asian recyclers bereft of tonnage However, policy will benefit Chinese recyclers who have been hamstrung by vessel import restrictions and low prices
Lila Global sells another capesize bulker as demand for vintage giants remains strong Lila Tianjin is one of three capes of a similar vintage reported sold for further trading
Toro Corp re-elects director Petros Zavakopoulos as profit plunges Cypriot tanker and gas carrier owner's bottom line was boosted by ship sales last year
Pertamina International Shipping targets fleet of 500 tankers and gas carriers within a decade Director Eka Suhendra says Indonesian owner wants 200 of its own ships, plus 300 on charter
QatarEnergy names first two of its 128 incoming LNG carrier newbuildings Flagship vessel honours former ExxonMobil chief Rex Tillerson
Nanjing Tanker taps parent yard in fleet renewal Chinese shipowner contracts handysize product carrier
'Independence? It's part of our DNA,' says MSC's Caroline Becquart Liner giant is taking a one-time opportunity to launch a stand-alone service
Hunter loses $19,000 per day on VLCC charter bet before September rate spike Norwegian group managed to charter out two ships for average of $32,700 per day in August
China's new scrap-and-build incentive scheme leaves South Asian recyclers bereft of tonnage However, policy will benefit Chinese recyclers who have been hamstrung by vessel import restrictions and low prices
Eastern Pacific reaches for the moon to raise money for Mercy Ships Fundraiser seeks to cover the distance from the Earth to the moon with participants cycling, running or walking
Potential port strike has retailers, manufacturers scrambling U.S. retailers and manufacturers are taking steps to mitigate a potentially multibillion-dollar hit if the International Longshoremen's Association goes on strike at the beginning of October.
What to know about ILA demands in potential port strike No talks are scheduled between employers and the International Longshoremen's Association, which represents unionized workers at ports on the U.S. East and Gulf coasts. Bargaining has stalled over technology and pay issues.
Half a century later, ILA returns to strike mode The ILA maintains that it will not accept any extension of their current contract nor any potential mediation by the federal government.
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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