ExxonMobil secures largest offshore CO2 storage site in the U.S. In an agreement signed today by Texas Land Commissioner Dawn Buckingham, M.D. and Dominic Genetti, senior vice president, ExxonMobil Low Carbon Solutions, Exxon Mobil Corporation (NYSE: XOM) has secured the largest offshore
HD Hyundai Heavy claims HiMSEN ammonia engine breakthrough One of the word's largest manufacturers of marine engines, HD Hyundai Heavy Industries, is adding a zero-carbon ammonia dual-fuel (DF) engine to its HiMSEN line of medium speed engines. It is the
Marlink: Maritime cyber threats up sharply in 2024 Maritime information and communications technology specialist Marlink has released the latest global maritime cyber threat report produced by its Security Operations Center (SOC). The report, based on data gathered during the first
Marlink security operations centre identifies escalating maritime cyber threats Marlink has published a comprehensive report on global maritime cyber threats from its Security Operations Centre (SOC). The document, which utilizes data from the first half of 2024, sheds light on the increasingly sophisticated tactics of cybercriminals as they adapt their methods to circumvent established security measures. The analysis reveals a significant escalation in cyber threats compare
VesselsValue Q4 2024 Market Outlook Summary The forecast period up to 2027 suggests a mixed outlook across different vessel types. We anticipate that orders for Bulkers and Tankers will gain momentum, while demand for Containers and LNG/LPG vessels will decline. Despite the expected rise in Bulker and Tanker orders, the overall orderbook will likely shrink due to a surge in deliveries for Container and Gas vessels. Geopolitical tensions, s
ONE announces two new North Europe - Med services Ocean Network Express (ONE) will launch two new Northern Europe/Mediterranean services, Aegean Express (AEX) and Levant Express (LEX) in January 2025. "Our AEX and LEX services both offer exceptional North-South connectivity, industry-leading transit times, and seamless access to our Northern European and Mediterranean feeder network via our key transhipment hubs in Rotterdam, Istanbul, Piraeus a
Sea-Intelligence expects 10-17% capacity decline due to USEC strike "With the USEC port strike now over, Sea-Intelligence observes that the impact is much less severe than initially feared. However, the three-day closure did lead to vessel queues, which is expected to negatively affect capacity availability in the origin regions." In the most optimistic view, according to the Danish analysts, the impact is limited to the three days of striking, but realistically,
X-Press Feeders commits to methanol as future fuel X-Press Feeders has ordered six additional 11,000 TEU methanol dual-fuelled boxships at Shanghai Waigaoqiao Shipbuilding as it hedges its decarbonisation bets on methanol. The company's Head of Global Operations, Vijayachelvan Silva Raju, said at the Singapore International Bunkering Conference and Exhibition that X-Press believes methanol "is here to stay". This content is locked Select a CN Pre
APM Terminals blocks ICTSI's bid for Durban terminal Maersk's terminal-operating unit APM Terminals has obtained an injunction against its Philippines-based rival ICTSI's successful bid to operate a container terminal in South Africa's Durban port. On 9 October, the Durban High Court acceded to APM Terminals' application, which alleged that International Container Terminal Services, Inc. (ICTSI) received preferential treatment in the bid. In July 2
Visayas Container Terminal enhances handling capabilities with new Konecranes equipment Visayas Container Terminal (VCT), International Container Terminal Services, Inc.'s (ICTSI) business unit in Iloilo, recently put into operation two new mobile harbor cranes (MHC), the first of their kind in Panay Island. These are expected to enhance Iloilo port's role as a competitive and efficient trade gateway for Western Visayas. Christian R. Gonzalez, ICTSI executive vice president, comment
Decarbonization regulations pushing down average speed of global bulker fleet Research by Veson Nautical: Estimated carbon emissions from bulk carrier vessels have fallen by 5 million tonnes, or 2.5%, since the beginning of 2021, despite an increase in the distance travelled and time spent underway according to new research by Veson Nautical (Veson), a provider of maritime data and freight management solutions. The research, published in a whitepaper titled 'How are the CI
Overcoming Limitations of Free Keyword Search Volume Tools Effective B2B digital marketing requires robust keyword research. While free tools offer initial insights, they fall short in providing comprehensive data for SEO optimization. This gap affects content strategy and online visibility for B2B marketers and agencies. Employing advanced keyword analysis methods yields more accurate insights, facilitating targeted content development, improved SEO res
IMO MEPC advances talks on new regulations for reducing ship GHG emissions The International Maritime Organization (IMO) made significant progress in negotiations on binding global regulations for the IMO net-zero framework, aiming to meet the greenhouse gas (GHG) reduction targets set in the 2023 IMO Strategy. At the 82nd session of the Marine Environment Protection Committee (MEPC), held from 30 September to 4 October 2024, Member States found more common ground and p
Strike saga continues in Montreal: Dockers start overtime ban Dockers at Canada's largest East Coast port in Montreal are due to start an unlimited overtime ban from 7 am (local time) today (10 October) after claiming that employers are "dragging their feet" in negotiations for a new contract. The Canadian Union of Public Employees (CUPE), which represents around 1,200 dockers at the Port of Montreal (CUPE 375), said that port workers have been without a co
Maersk opens new facility in Ohio for Levi Strauss & Co. Maersk Warehousing & Distribution Services USA LLC has opened a new 1.2 million square foot omnichannel fulfillment facility in Groveport, Ohio, to help serve Levi Strauss & Co.'s wholesale, retail, and e-commerce channels. This represents a capstone to Maersk's comprehensive logistics support for one of the world's largest apparel companies, including end-to-end solutions from origin consolidati
Dual-use dilemmas: Geospatial insights into China's port investments China aims to expand its global influence through infrastructure development and economic partnerships across Asia, Africa, and Europe. The Maritime Silk Road is a key facet of this strategy, enhancing China's access to strategic maritime locations and its capability to influence global trade routes. The country has invested heavily in overseas port developments, such as in Gwadar (Pakistan), Ham
Most Florida ports shut down due to Hurricane Milton, earliest reopening set for Friday Hurricane Milton made landfall near Siesta Key, Florida, as a Category 3 hurricane Wednesday evening, hours after Florida ports along the hurricane's anticipated path closed. Despite being downgraded from a Category 5 hurricane, an 8:30 p.m. EDT update issued on Oct. 9 by the National Hurricane Center urged Floridians to be aware of a "life-threatening storm surge, extreme winds, and flash floodi
Shelf Drilling scores jackup double in Nigeria Dubai-based Shelf Drilling has landed new contracts for two jackup rigs in Nigeria. The Oslo-listed jackup rig pure-play has firmed up the letter of award from September into a three-year contract for the Shelf Drilling Achiever with operations starting in October this year. The contract comes attached with an option for up to two years ...
Top Dyna-Mac shareholder labels Hanwha offer as 'uncompelling' The largest shareholder of Singapore-based Dyna-Mac, the Estate of its founder Desmond Lim Tze Jong, has stated that the current offer for the company by South Korean conglomerate Hanwha was not compelling and did not factor in the growth potential of the company. Hanwha Group made an offer to acquire all shares it currently does ...
Minerva buys US bunker supplier Bomin Minerva Bunkering has expanded its operations and supply network across the Americas with the acquisition of Bomin Bunker Oil. The subsidiary of commodity trader Mercuria has picked up the Houston-based company from Mabanaft Group for an undisclosed sum. Bomin supplies bunkers in Houston and surrounding US Gulf ports, Norfolk, Virginia, Panama and Ecuador. Geneva-based Minerva ...
HD Hyundai develops direct injection ammonia dual-fuel engine South Korea's largest shipbuilder HD Hyundai Heavy Industries has developed a zero-carbon ammonia dual-fuel engine which it claims will be the first engine in the world to use a high-pressure ammonia direct injection method. The company already completed the model-based class approval testing for the so-called HiMSEN ammonia dual-fuel engine at its Ulsan Headquarters. The ...
Ørsted picks Fugro for survey work on Australian offshore wind areas Dutch surveyor Fugro has been chosen by Danish firm Ørsted to undertake a 12-month floating lidar measurement campaign for their Gippsland offshore wind farms, off the south coast of Gippsland, Australia. Fugro's Seawatch wind lidar buoy will measure wind, wave, current, and meteorological parameters to help assess the viability of Ørsted's wind farms at the ...
APM Terminals presses ahead with Jordan investment Maersk's port operating arm, APM Terminals, has struck a deal with the Aqaba Development Corporation (ADC) in Jordan to upgrade a container terminal in the southern Aqaba port. The agreement covers an investment of about $242m to boost the terminal's capacity to 1.7m teu and accelerate plans to transform it into a sustainable gateway to ...
Landmark study signposts costs and perks of onboard carbon capture A project assessing the technical feasibility of onboard carbon capture and storage (OCCS) in the shipping sector has found that the technology has the potential to help maritime transport significantly reduce its greenhouse gas emissions as well giving owners and charterers an idea of the costs to make that happen. The engineering project, named Realising ...
Fujian Guohang ups bulker order tally at Wuhu Chinese bulker owner and operator Fujian Guohang Ocean Shipping is firming up its series of methanol-ready kamsarmax newbuilds at compatriot Wuhu Shipyard. The Beijing Stock Exchange-listed company has declared options on four more 89,000 dwt ships, bringing its orderbook at the yard to eight. Late last year, Fujian Guohang secured newbuilding slots for up to ...
Bahri chops and changes fleet mix Bahri, Saudi Arabia's leading shipping line, is accelerating fleet renewal efforts by actively buying and selling vessels. Brokers report that the shipping giant has tabled $101m for two 2021-built, 50,000 dwt sister ships-Maritime Inspiration and Maritime Verity-from Singapore-based IMC Shipping. CSSC Guangzhou Longxue Shipbuilding built both ships. In another deal, Bahri reportedly added a six-
Tanker damaged in Red Sea attack A ship was struck and damaged by an "unknown projectile" in the Red Sea, the United Kingdom Maritime Trade Operations (UKMTO) centre said this morning. "The master of the vessel reports being hit by unknown projectile and the vessel has sustained damage, no fires or casualties reported," the UKMTO said. The Liberia-flagged chemical tanker, whose ...
Gulf Marine Services wins new vessel deal in Europe and pair of extensions London-listed liftboat operator Gulf Marine Services (GMS) has won a new long-term contract in Europe and extensions for two existing contracts in the Middle East. The three deals will add a total of 25 months to the backlog, inclusive of optional extensions. The current backlog stands at $505m, representing more than three times the revenue ...
North Star to lead development of tailor-made SOVs for floating wind UK service operations vessel (SOV) operator North Star has teamed up with five other companies to build SOVs tailored specifically for floating wind farms. The company signed a memorandum of understanding with MO4, Principle Power, SMST, VARD, and Voith Group to help fast-track the design and testing of a new SOV concept. The result should ...
Subsea 7 gets subsea work in US Gulf of Mexico Offshore engineering and services player Subsea 7 has won a contract for a subsea tieback development in the US Gulf of Mexico. Subsea 7 will be responsible for transporting and installing the flowline, umbilical, and associated subsea components for the tieback. Project management and engineering work will begin immediately at the company's office in Houston ...
ICTSI's Durban contract under threat Lawyers working for APM Terminals have managed to put rival International Container Terminal Services, Inc's (ICTSI) entry into South Africa's largest container port on hold, adding another embarrassing setback to the African nation's bid to privatise and improve their port facilities. A South African court yesterday decided to temporarily block ICTSI's 25-year deal with state-run ...
BIMCO approves first management agreement for autonomous ships The rise of autonomous ships requires a huge shift in so many facets of maritime frameworks, not least when it comes to paperwork. Shipping organisation BIMCO's documentary committee has adopted the so-called AUTOSHIPMAN agreement in response to a growing number of remotely controlled ships. The AUTOSHIPMAN agreement provides a standard contractual foundation for third-party shipmanagers ...
The lessons of Panama Canal drought for future shipping routes The 2023-2024 drought at the Panama Canal was historically severe and had major impacts on container, LPG, LNG and dry...
Daily Briefing Container lines poised to post highest quarterly profits since pandemic | Maersk chief Clerc stresses urgent need to close green...
Shell linked to newbuilding deal for conventional fuel MR tankers in China Guangzhou Shipyard International is said to have confirmed a newbuilding contract for 10 medium range product tankers for operation with...
Baltimore bridge litigation: The US courtroom drama that doesn't star Tom Cruise Verdict could go either way, with legally well-founded claim for limitation pitched against understandable anger of entire city
Carbon capture study finds emission reductions of 20% a year possible Project 'Remarccable' developed a prototype design for an onboard carbon capture and storage system for integration onto a medium range tanker...
Hanwha poised to agree union deal as strike action continues to plague South Korean yards If finalised at the union's general meeting on Friday, Hanwha Ocean will be the second shipbuilder to sign the agreement...
What LNG fuel's rise and fall in Norway tells us about green fuel policy Researchers from the University College London Energy Institute looked at Norway's LNG industry from 1985 to 2015 to find lessons...
Maersk chief Clerc stresses urgent need to close green fuel price gap as newbuilding orders imminent Danish carrier reveals growing frustration over green fuel scarcity upon christening the fifth of its 25 dual-fuelled methanol boxships. Meanwhile...
Fujian Guohang Ocean Shipping to boost post-panamax bulker order Domestic coal carrier and international dry cargo vessel operator plans to finalise the addition of four 89,000 dwt post-panamax bulk carriers...
Gasum and ferry operator Wasaline to set up FuelEU pool Finnish bio-gas producer Gasum to form a FuelEU pool with ferry operator Wasaline, selling over-compliance to shipping firms that have...
Self-styled 'new sheriff in town' declares the long-awaited government plan on cleaning up UK shipping is imminent The UK's Clean Maritime Plan has achieved notoriety owing to the number of times its launch has been hyped up...
Third ship struck in Ukraine within space of one week Although vessels berthed in Ukrainian ports have always been at risk of becoming collateral damage, it is unusual for so...
Small ports face big challenges to decarbonise Small economies face higher costs for maritime transport and are often most exposed to the impacts of climate change. Funding...
Port communications a key factor in supply chain resilience Port community systems and single windows serve the internal purposes of port stakeholders. But cargo owners rarely have the insight...
Heavy frontloading sets up US-Asia trade for falling rates, imports The huge import volumes that moved across US docks in August are also muting the post-Golden Week bounce that normally occurs in mid-October when retailers ship their high-value holiday merchandise through the West Coast.
Savannah working through anchored vessels in wake of strike, weather disruption Vessels are waiting just over two days on average before getting into the harbor in the wake of last week's ILA strike and Hurricane Helene in late September.
India-US carriers keep lowering rates to match capacity as bookings plummet Local freight forwarders say carriers on the trade lane are willing to strike special rate deals with large-volume customers on a per-sailing or short-term contract basis.
Maersk rules out Suez Canal routings for Gemini launch With no improvement in the Red Sea security situation, and shippers preparing for 2025 contracts, Gemini has jettisoned the shorter route for the longer transit around southern Africa.
Axpo limbers up to make new play in growing LNG bunkering Swiss utility joins queue of fresh faces wanting to break into emerging supply sector
MSC voices support for mandatory plastic pellet pollution rules and urges rivals to act Swiss liner giant outlines safeguards it's taking when transporting plastic pellets
Maersk strikes deal to end container loss lawsuit with Target's insurer Starr Indemnity had been seeking $5.8m for lost consumer goods
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Port of Tampa Bay emerges mostly unscathed as Mexico's Progreso works to reopen State and local officials expect key fuel port to reopen quickly
Fednav and Zemax cleared in complaint over alleged Brazilian cabotage trade 'irregularities' Decision says Zemax showed authorisation to use foreign-flag ship in Brazilian trade
Braemar shares slide after report shines spotlight on Russian shadow fleet deals Shipbroker and escrow agent say they completed due diligence processes before ship deals
Poten parent BGC Partners snaps up Houston-based Sage Energy brokerage BGC has been the subject of consolidation rumours. Now there's a different twist
Troim-founded shipowners see few signs of 'disappointing' quarter as capesize rates fall Large bulker spot rates reach lowest level in more than six weeks
Premuda cashing in on strong values with tanker and bulker sales Pillarstone-controlled platform offloads LR2 tanker and has another pair of deals in the pipeline
European Maritime Finance attracts brokers and yard bosses to Oslo opening Danish financier celebrates gaining permanent base in the Norwegian capital
Pessimism creeps into LNG market as temperatures and rates drop Notes describe muted uptick in spot markets as rates tick downward
Erik Hanell: 'Onboard carbon capture an increasingly viable solution for shipping' Expensive further research will drive down costs, say Remarccable project team
Global bulker fleet slowing down to meet carbon rules, says Veson Research suggests efficiency regulations are having an impact
Mercuria-backed bunkering firm expands in Americas with takeover of Bomin Singapore-headquartered group buys access to physical supply bases in the US, Panama and Ecuador
Kicking around ESG: Why analyst Mike Webber prefers goalposts that don't move This week's Streetwise takes a look at a football fan's explanation of why good governance is his main goal
Private equity investor Riverstone completes 'successful' exit from offshore support vessel owner Asset management giant will now look ahead to energy transition and decarbonisation investments
HD Hyundai Heavy Industries rolls out 'world's first' high-pressure ammonia engine Shipbuilder says new eco-friendly product will soon be ready for commercial market
Maersk inks first batch of LNG dual-fuelled container ship orders as it embraces new fuel Contracts signed in China with newbuildings due to be confirmed in South Korea this week
Erik Hanell: 'Onboard carbon capture an increasingly viable solution for shipping' Expensive further research will drive down costs say Remarccable project team
Maersk and Tor Olav Troim's Himalaya at opposite ends of Clarksons' latest credit rankings Investment banking arm says listed shipowners still performing strongly, with tankers and bulkers looking particularly well set
Ukraine seizes Turkish cargo ship for calling in Russian-occupied Crimea Usko MFU has been confiscated by the state following its detention in July
President of Cyprus pledges support and recognition for women in shipping Government is funding scholarships for Cypriot women who want to study shipping
RightShip redraws bulker inspection rules to boost safety and cut off-hire costs Four-year age drop as RightShip ramps up surveyor numbers
Arrow enters spot tanker chartering with hire of SSY veteran Rupert Lawson Shipbroker's headcount set to top 400 in 2025 as company grows on energy fronts
End all-male panels, IMO chief Arsenio Dominguez urges shipping International Maritime Organization is rolling out policy of not participating in all-male conference panels
Greek owner Spring Marine makes string of asset plays with ageing tankers Low-profile Athens company flips vessels it bought in 2021 and 2022 at considerable profit
DHT rate guidance underwhelms analysts as VLCC fixed out for a year Owner is slightly ahead of third-quarter consensus, but final three months have started slowly
UK crackdown on Russia-linked tankers to be reviewed under pressure from insurers Maritime minister says review will assess effectiveness of policy
Shell strikes deal for 10 product tankers worth $480m at Chinese shipyard The oil major is likely to novate the product carriers to leasing houses or shipping companies, sources say
BW LPG banks huge profit from gas trading division as earnings shift from ships Boss Kristian Sorensen says operation shows how company can generate value in times of softer freight markets
Fearnley backs Evangelos Marinakis' Capital Clean Energy to capitalise on 'gradually improving' LNG market Analysts start coverage of newly named gas carrier company with a 'buy' rating
Family ties: German ship management giant forged as Zeaborn morphs into Wilhelmsen Ahrenkiel Michael Silies and Michael Brandhoff reflect on the ongoing union of famous company under two new owners
Greek-managed tanker suffers damage after multiple Houthi attacks in Red Sea No injuries reported among crew and vessel continues journey after requiring assistance
X-Press Feeders spends $780m on six methanol-ready container ships Operator is believed to be paying nearly $130m each for neo-panamaxes
Deadly Russian missile attack on Odesa port damages container ship Third commercial ship becomes a casualty in a Ukrainian port since Sunday
Georgia's Brunswick port expands ro/ro capacity The Georgia Ports Authority is positioning the Port of Brunswick to be the leading ro/ro gateway on the U.S. East Coast, investing millions in expansion and harbor upgrades.
Levi Strauss shifts Ohio logistics work to Maersk Maersk has taken over a major logistics function in the United States on behalf of Levi Strauss, feeding merchandise to the retailer's stores and filling online orders.
UPS getting more elbow room at Gary/Chicago airport The general aviation airport in Gary, Indiana, is expanding cargo infrastructure to help UPS. There is also a Field of Dreams mentality: Build it and other cargo carriers will come.
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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