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AMTOI celebrates 25 years of driving growth in Indian Multimodal Transport Sector
Baltic Exchange Market Report (09 Feb. 2024)
Balmer Lawrie signs MoU with IIM Lucknow for its Startup program
CMA CGM OWS on dry cargo from India to West & South Africa, & Indian Ocean
Red Sea turmoil sinks freight rates for Suezmax
US West Coast ports brace for rise in cargo due to Red Sea situation
Six port clusters to be developed as Mega Ports
Network Planning Group assesses key projects based on PM Gati Shakti principles
Port of Antwerp-Bruges increases bollard capacity at terminal; to allow multiple 24,000 TEU ships to dock in the most efficient way possible
Airbus ship rotor sail order is a game changer for auxiliary wind propulsion This past year has been a good one for auxiliary wind propulsion as a growing number of charterers look to the technology as a means of cutting carbon across their supply chains.
Metal Shark adds new Louisiana manufacturing facility Following the recent divestiture of its Bayou La Batre, Ala., shipyard, Louisiana-based boat builder Metal Shark is expanding its presence in its home state with the addition of a third manufacturing facility.
Global bunker indices see modest decline During the sixth week, the Marine Bunker Exchange (MABUX) global bunker indices experienced a modest decline. The 380 HSFO index dropped by US$8.74 to US$507.44/MT, edging closer to the US$500 threshold. Similarly, the VLSFO index decreased by US$10 with a value of US$664.71/MT compared to US$674.71/MT last week. The MGO index saw a decline of US$9.56, falling from US$916.29/MT to US$906.73/MT.
Maersk may pursue DB Schenker Maersk Line might become a suitor for Deutsche Bahn's logistics subsidiary DB Schenker after an initial lack of interest. The Danish liner giant's CEO Vincent Clerc said in an earnings call on 8 February that the sale of DB Schenker is something that needs to be looked into, although it is "definitely not a do or die". Clerc was speaking during Maersk's 2023 results briefing, which showed revenue
No large ships idled this week Following the impact of the Houthi attacks on commercial shipping in general and container ships in particular the number of large boxships idled fell to zero with carriers deploying tonnage to maintain schedules on the longer Cape route. Diversions around the Cape of Good Hope began in December as the Houthi Movement fired on Israeli-bound, US and British connected vessels and Alphaliner reports
Port of Riga welcomes largest container ship in its history On Sunday night, the container ship MSC Maritina V made its entrance into the port of Riga, marking the largest container vessel to ever visit the Latvian port. Measuring 266 meters in length and 37 meters in width, the ship operates under the flag of Madeira (Portugal) and boasts a maximum capacity of 4,533 TEUs (20-foot containers). MSC, the Swiss-based international company, which operates the
Maersk leads the way: First to secure SBTi validation with new maritime guidance The greenhouse gas emissions targets set by A.P. Moller-Maersk have received validation from the Science Based Targets initiative (SBTi), aligning them with the 1.5-degree pathway outlined in the Paris Agreement. This achievement represents a significant milestone within the maritime industry under SBTi's recently introduced Maritime Guidance. While maintaining its commitment to achieving Net-Zer
Maersk pilots Shanghai as new global gateway for LCL shipments Maersk pilots Shanghai as its new global gateway of Less-than-Container-Load (LCL) shipments. The Danish company described this initiative as a "groundbreaking milestone" in the industry for shipments from different nearby countries and areas to be consolidated and transported via Shanghai to the rest of the world. Maersk said that this development comes as a direct result of recently relaxed loc
MSC upgrades Türkiye - UK West Coast service MSC has announced a recent update to its Türkiye - UK West Coast service, which provides a connection between Türkiye and Liverpool and will now extend its reach to include the UK ports of Portbury and Greenock. "This development offers customers a reliable route for cargo transportation between the UK and European markets as well as supporting the reduction of carbon emissions across their suppl
CMA CGM enhances Medcaribe service French ocean carrier CMA CGM decided to enhance its Medcaribe service with the deployment of a ninth container vessel into the service's fleet. This addition is expected to enhance CMA CGM's operational agility, ensuring smoother voyages amidst potential challenges such as port congestion and adverse weather conditions. Set to be gradually introduced in Ecuador by the end of March, this new vesse
CLdN secures full ownership of Broekman Distriport Real Estate CLdN has announced the complete acquisition of Broekman Distriport Real Estate BV and its subsidiary, Broekman Distriport BV, securing 100% ownership of both entities. This strategic move presents opportunities for CLdN to expand and diversify its range of services to and from the port of Rotterdam. Simultaneously, Broekman Logistics has disclosed investments in its Project Services terminal at R
Porto Itapoá surpasses 1 million TEU threshold for the first time Porto Itapoá achieved an important milestone in 2023 handling 1 million TEUs in a single year for the first time in its history. The terminal is projected to finish the year with movement very close to 1.2 million TEUs, solidifying its position as the fourth-largest container port in Brazil. With this result, the year-over-year growth in terminal operations is expected to be around 20%. In the pr
Girteka launches multimodal service in Europe Through a partnership with shipping firms Finnlines and Transfennica, Lithuanian transportation company Girteka has announced a service spanning nearly 1,000 km across the Baltic Sea, connecting Hanko in Finland with Rostock and Lubeck in Germany. With a vast fleet exceeding 7,000 trailers, Girteka said it offers customers flexibility and efficiency with seamless trailer exchanges at ports, optim
Maersk sets new bar with shipping's first climate target validation AP Moller-Maersk has achieved another industry first, having validated its decarbonisation targets to be in line with the Paris Agreement's goal to hold the global average temperature increase at 1.5C above pre-industrial levels. The Danish shipping and logistics group has seen its goals verified by the Science Based Targets initiative (SBTi) - a group that ...
Washington unveils further sanctions against Russian-linked tanker operators The US Department of the Treasury's Office of Foreign Assets Control (OFAC) took its second price cap enforcement action of 2024 yesterday, imposing sanctions on four entities and identifying one Gabon-flagged vessel as blocked property, the latest in a series of measures designed to hamper Russian oil exports. The US is part of an international ...
CMA CGM faces Polynesian hurdle in its pursuit of Bolloré Logistics French liner CMA CGM has fallen foul of competition authorities in Polynesia in its bid to take over Bolloré Logistics. The Polynesian Competition Authority said this week it will block the takeover deal unless CMA CGM cancels one of its liner services, the Panama Direct Line, or sells Bolloré's subsidiary in the region. The body ...
British carbon capture device in successful pilot British carbon capture specialist Seabound has completed its maiden voyage, capturing 78% of a containership's carbon emissions and more than 90% of its sulphur output. The pilot, which was made possible with the support of Hapag Lloyd and Lomar, and approved by ABS, saw data collected at sea for over two months. The pilot saw ...
Norsepower seals largest wind-assist contract to date French shipowner Louis Dreyfus Armateurs (LDA) will install Norsepower Rotor Sails on a new low-emission roro fleet to be chartered to Airbus. The Norsepower Rotor Sail is a modernised version of the old Flettner rotor concept that uses electric power to actively rotate the cylinder-shaped rotors on the deck. The new low-emission vessels, which will ...
Enter the dragon Will the forthcoming Lunar New Year herald a year as auspicious and lucky as the dragon is believed to represent? Splash Extra's special correspondent takes some expert advice. Forecasting is getting a much more complicated business. With 40 national elections due to take place this year, a more tense geopolitical situation than many of us ...
You don't have to be mad to invest in shipping. But it helps Why bother with creative destruction when good old-fashioned destruction will do instead?
Box shipping settles into the new 'new normal' The initial shock phase of the Red Sea crisis is coming to an end. With demand now set to ease...
UK start-up claims carbon capture rate of 78% on board containership The two-month long pilot project reached a carbon capture efficiency of 78% on a 3,200 teu boxship
DFDS overcomes freight market challenges to deliver strong 2023 revenue DFDS' outlook for 2024 impacted by an elevated level of financial uncertainty because of high inflation and interest rates, and geopolitical...
Container rates fall back as China exports slow for Lunar New Year The impact of the Red Sea rates shock has been tempered by lower demand. But capacity management has led to...
Seaway7 partners with Dong Fang Offshore The Taiwanese offshore wind sector is one of the fastest growing, with more than 100 projects slated for development. Seaway7...
American Club culls 15 tankers accused of shipping Iranian oil from insured fleet Tankers were removed from New York-based marine insurer over the past five weeks, after media organisation Bloomberg started investigating United...
Ofac sanctions four companies and Sovcomflot tanker for Russia oil price cap violations Zeenit Supply and Trading shipped Urals-grade crude priced at $20 above the G7 oil price cap to India, vessel-tracking and...
Daily Briefing Maersk: Red Sea is no bonanza for container lines | Maersk slumps to loss in 'difficult' market | Ofac focusing...
Plimsoll at 200: why it still matters to maritime safety Samuel Plimsoll has featured in Lloyd's List since the 1870s. The author of a book on the maritime safety reformer...
West coast ports gain most from US import boost as delays from Red Sea diversion increase on the east US imports increased in January, according to the latest report from logistics and software provider Descartes. Volumes and delays grew...
Mexican systems failures disrupting cross-border trade with US The failure of Mexican customs clearance systems at a national level this week snarled supply chains and may warn of future problems as US-Mexico trade grows.
US retailers upgrade forecast for H1 2024 import growth despite Suez diversions The Global Port Tracker calls for a year-over-year gain of 5.3% in US imports over the first six months of the year despite the uncertain security situation in the Red Sea.
Red Sea crisis, demand uncertainty muddle prelude to annual contract talks While current elevated rates would normally give ocean carriers leverage in annual service contract negotiations, spot rates will likely come down after the pre-Lunar New Year rush and the market is still uncertain about how strong demand will be in the second half of the year.
Air cargo rates, volume take off as Lunar New Year begins The seasonal rise in air freight demand out of China ahead of the holiday has been strong, but analysts say the Red Sea effect on rising volumes remains unclear.
ILA gives chapters mid-May deadline to reach agreement on local issues The International Longshoremen's Association's May 17 deadline will provide an almost five-month window for the union to wrap up talks on a master contract covering the East and Gulf coasts.
US truckload carriers see 'upside' in sharpened focus on dedicated shippers Some of the largest truckload carriers, including Werner, Schneider and J.B. Hunt, are putting more emphasis on dedicated fleets as shippers seek stability and security.
Dimensional shift: Texas firm pumps up stakes in Teekay, Seaways and more shipping names Austin-based Dimensional Investment Advisors cuts holdings in Eagle Bulk and Costamare
Podcast: How a suspected oil slick off Brazil is just the tip of the iceberg SkyTruth executive says 18.7m barrels of oil are discharged every year from shipping
Choose the transformative power of green maritime fuels rather than false solutions Green methanol is good, but electrification or hydrogen in a fuel cell is even better
Oaktree back in at Eagle Bulk after bond conversion Private equity giant teams with Brookfield and BAM Partners to turn debt securities into 10% stake
Editor's selection: Maersk meltdown, Stolt buys into rival and dumping the MLP A look back at some of the biggest stories of the week
Arctic Securities finance head quits for law firm Thommessen Norwegian commercial law firm re-hires Kristian Pande Horn from investment bank
Panagiotidis' Castor has $121m war chest as it eyes fleet modernisation Cypriot company plots next phase after selling many of its older bulkers
'Light-footed' Gersemi fund cuts bulker and VLGC exposure amid shipping disruption Joakim Hannisdahl-led investment company is banking on crude and product carriers for returns
'Odfjell does not want a merger': Harald Fotland shrugs off Stolt-Nielsen takeover rumblings Competition authorities would be unlikely to sign off on a merger, anyway, says Odfjell CEO
Norden CEO: We will stay product tanker-focused until 2025 It has become more difficult to generate a margin from bulkers, CEO tells TradeWinds
Detained shadow tanker released after Russian crew pay dispute Product tanker leaves Gibraltar after two-week detention following crew complaints and ship defects
Management shake-up at IMC Shipping as Frederik Guttormsen joins exodus Managing director is among several senior executives at shipping division of Singapore company heading for the exit
'We're not villains,' insists American Club after Iran-linked ships found on its books Insurer has taken action on about 40 vessels over the past year to clean out its book
High-yield fund bets on Saverys family shake-up at Euronav Sissener Corporate Bond Fund has Belgian company's bonds as one of its largest shareholdings
Furetank finalises fleet renewal with dual-fuel tanker order Swedish owner has now contracted 21 ships in the Vinga series of product carriers
Fresh price cap crackdown sees US target new Sovcomflot tanker NS Leader is the seventh SCF-linked ship targeted by sanctions enforcers since October
Eagle Bulk sells first of two scrubber-fitted supramax vessels on the market New York-listed bulker owner finds European buyer for one of two ships circulated for sale
Shipping fund bets big on product tankers as returns top 50%, says Cleaves Norwegian asset manager confident it can continue to make money from volatile shipping markets
Furetank finalises fleet renewal with dual-fuel tanker duo order Swedish owner has now contracted 21 ships in the Vinga series of product carriers
John Fredriksen's Flex LNG $1bn in the money on newbuildings CEO Oystein Kalleklev thankful the company's fleet was ordered in the previous decade
IMO inches closer to carbon pricing consensus for shipping, says leader On his first official trip abroad, the IMO's new secretary general urges shipowners to put faith in the organisation - and themselves
Fatigue blamed as two seafarers killed by huge waves on Greek reefer Accident report reveals that weary bosun took his team back out on deck to finish task he claimed had been completed the day before
Money worries over big claims expose P&I tensions at relaxed Greek gathering Bigger clubs are pushing for financial reforms over how large casualty claims are paid for
Pension fund takes $19m stake in ESL Shipping amid low-carbon bulker push Finnish shipowner welcomes Varma pension fund as shareholder
Cool-down cargo arrives off New Fortress Energy' first Brazilian-based FSRU Initial shipment awaits transfer to long-delayed new floating terminal
US targets new Sovcomflot tanker in fresh price cap crackdown NS Leader is the seventh SCF-linked ship targeted by sanctions enforcers since October
Maersk stock sell-off sets scene for 'dogfight' between container lines burning cash Analysts maintain sell and see limited upside
Pension fund takes $19m stake in ESL amid low-carbon bulker push Finnish shipowner welcomes Varma pension fund as shareholder
Maersk stock slide sets scene for 'dogfight' between container lines burning cash Analysts maintain sell and see limited upside
Management shake-up at IMC Shipping as Frederik Guttormsen join exodus Managing director is among several senior executives at shipping division of Singapore company heading for the exit
World's largest feeder ship firm Contships resumes vessel buys with latest Vega deal Nikolas Pateras-led company continues raiding German market for specialist tonnage
Odfjell forecasts more profit after record year in 'inefficient' markets Norwegian chemical tanker owner says contract renewals done at 5% higher rates in fourth quarter
Oaktree swoops back in at Eagle Bulk after 'prexit' triggered Star Bulk takeover Private equity giant teams with Brookfield and BAM Partners for $57m splash on stock
New Avenir LNG boss gears up for newbuilding drive Four months into his new role, Jonathan Quinn talks about soaring LNG bunker vessel demand, ambitions and a little sporting action
IMO inches closer to carbon pricing consensus, says leader On his first official trip abroad, the IMO's new secretary general urges shipowners to put faith in the organisation - and themselves
Improving offshore market helps Marco Polo Marine make strong start to the year But Singapore-listed company faces growing competition from China for ship repair work
Atlas Air engine that caught fire in Miami had loose plug, NTSB says An Atlas Air freighter had an engine inspection four days before an engine fire forced an emergency landing, the NTSB said on Friday.
Orient Overseas (International) Limited (OOIL), the subsidiary of the Chinese shipping group COSCO Shipping Holdings that operates containerized maritime transport services with ...
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