Zelensky: Russian missile strikes ship carrying Ukrainian grain The Interfax Ukraine news agency reports Ukrainian President Volodymyr Zelensky as saying that today, Thursday, September 12, Russians launched a missile strike in the Black Sea against a ship carrying grain from
VIDEO: Vancouver Drydock completes CCGS Sir Wilfrid Laurier VLE project Seaspan's Vancouver Drydock in North Vancouver, B.C., has successfully completed the Vessel Life Extension (VLE) of the Canadian Coast Guard's CCGS Sir Wilfrid Laurier. After undocking at the end of April 2024,
U.K.'s FSS support ships to have MAN naval equipment package The three Fleet Solid Support ships (FSS) ordered for the U.K.'s Royal Fleet Auxiliary will feature an extensive range of MAN Energy Solutions equioment. The main task of the advanced FSS ships
FERRIES 2024: Leveraging technologies in ferry operations Leveraging technology in ferry operations can greatly enhance efficiency, safety, and customer experience. At Marine Log's FERRIES 2024 conference on October 29-30 in Seattle, Hornblower Group-a leading name in maritime and hospitality-along
AkzoNobel unveils new updates to Intertrac Vision coatings performance prediction tool AkzoNobel's International marine coatings brand has announced a series of updates to Intertrac Vision, its "big data" tool designed to provide accurate and transparent predictions on the fuel and CO2 savings potential
KPI OceanConnect expands global presence with new office in Japan KPI OceanConnect, a global provider of marine energy solutions, has announced the opening of its new office in Tokyo, Japan, further strengthening its regional presence and support for local customers. This marks the company's fifth office in Asia, highlighting its commitment to strategic growth in the region. Japan, known for its innovation in the maritime industry and home to the world's third-
MSC adjusts emergency operations surcharge for West Med, Adriatic and Israel to America trade MSC has announced an adjustment to the following emergency operations surcharge (EOS), effective from 10 October 2024. The updated EOS rates are as follows: Previous EOS: US$1,200 for 20', US$1,500 for 40', and US$2,000 for reefers. New EOS: US$1,700 for 20', US$2,000 for 40', and US$2,500 for reefers. The existing freight rates remain unchanged. For reference, these rates are available below. Al
China's expanding presence in African ports Africa has become a focal point for China's Belt and Road Initiative (BRI), with the continent emerging as the largest recipient of Chinese engagement in 2023. This strategic focus is further underscored by China's recent agreement with Liberia . This indicates that China is actively seeking to increase its presence in West Africa, leveraging the region's importance to global trade routes. Accord
APSEZ signs 30-year deal to develop new berth at Deendayal Port Adani Ports and Special Economic Zone (APSEZ), India's major port developer and operator, has entered into a concession agreement with Deendayal Port Authority (DPA) to develop Berth No. 13 at Kandla's Deendayal Port in Gujarat, India. APSEZ has established a wholly owned subsidiary, DPA Container and Clean Cargo Terminal Limited (DPACCCTL), to manage operations at the berth. In July 2024, APSEZ
Ports around the Red Sea area struggle with sharp decline in deep-sea calls "We are now more than half a year on from the beginning of the Red Sea crisis, and the severe impact on the container shipping industry continues unabated," pointed out Alan Murphy, CEO of Sea-Intelligence. According to the Danish data analysis firm, the following figure highlights the number of deep-sea port calls in the key regions near the Suez Canal-namely the East Mediterranean (East MED), t
Valenciaport's solar plants operate at full capacity Valenciaport's solar power generation facilities have been operating at full capacity during the summer months. Since their launch earlier this year and up until July, they have not only surpassed the initial production forecasts but also helped reduce CO2 emissions by 106.78 tonnes. Currently, Valenciaport has two fully operational photovoltaic plants: one at the Port of Valencia and another at
Major solar park set to transform port of Riga into green energy hub On 9 September, an agreement was signed between the Freeport of Riga Authority and Lithuanian company SNG Solar for the lease of land in the Spilve Meadows area of the Latvian port. This deal marks the beginning of a major solar energy project at the port of Riga, which will include the installation of solar panels, the production and storage of renewable electricity, and the development of hydro
PortMiami secures US$19.5 million grant to enhance flood protection and resilience at Berth 10 In alignment with Miami-Dade County Mayor Daniella Levine Cava's Climate Action Strategy and Future-Ready Economic Plan, PortMiami has been awarded more than US$19.5 million from the Resilient Florida Program. This funding will be used to build a new, elevated bulkhead system at Berth 10 to safeguard the surrounding uplands from flooding and the impacts of rising sea levels. "This funding from th
Global bunker indices decline for second consecutive week In the 37th week of the year, the Marine Bunker Exchange (MABUX) global indices continued their downward trend for the second week in a row. The 380 HSFO index dropped by US$15.81 to US$491.27/MT, dipping below the US$500 threshold. The VLSFO index saw a decline of US$21.21 to US$595.48/MT, sliding under the US$600 mark. Meanwhile, the MGO index fell by US$19.24 to US$747.06/MT. "At the time of w
SK tes launches electric vehicle battery recycling plant at Port of Rotterdam SK tes, an international battery recycling company, is launching a new facility at the Port of Rotterdam dedicated to recycling spent lithium batteries, electric vehicle batteries, and production scrap. This facility plays a crucial role in recovering key raw materials to meet the growing demand for battery production, particularly for electric vehicles. The plant processes battery manufacturing
DSV wins DB Schenker acquisition race According to a latest Reuters report, Danish logistics firm DSV will acquire Deutsche Bahn's rail logistics arm DB Schenker. The transcation cost will amount around US$15.5 billion and the contract will be signed in the next days, after the deal receives the approval by Deutsche Bahn's supervisory board. DSV's latest competitor was Luxemburg-headquartered financial investor CVC, which was the onl
Survey confirms continued rise in freight demand for US-bound shipments in August Container xChange , the global online marketplace for container trading and leasing, released new data that provides insights into the latest container leasing rate trends from China to the United States and Europe. As the global container shipping industry faces ongoing challenges, the data indicates a plateauing trend in container leasing rates, with significant regional variations. According t
Gambia Ports Authority selects Prodevelop's Port Management Information System The Gambia Ports Authority has reinforced its commitment to digitalize its operations by selecting the Spanish company Prodevelop, in partnership with local firm Lasting Solutions, to implement the Port Management Information System (PMIS), Posidonia Management. For Gambia Ports Authority it is crucial to optimize internal port management. Prodevelop's PMIS is a tool for digitalizing and streamli
Liberia and China strengthen ties with renewed agreement The Liberian Registry, the largest ship registry in the world, announced the renewal of a historic maritime agreement between the People's Republic of China and the Republic of Liberia. This renewed partnership aims to strengthen relations between the two governments and offer substantial benefits to vessels flying the Liberian flag. The agreement was signed by Neto Zarzar Lighe Sr., Commissioner
Russia accused of striking bulk carrier in international waters Marking the first confirmed strike on a merchant ship in the Black Sea in many months, a Saint Kitts and Nevis-flagged bulk carrier was struck by a Russian-launched missile last night after departing from the port of Chornomorsk, Ukraine. According to maritime security sources, the 27,239 dwt bulker Aya, which was transporting grain to Egypt, ...
Nexans invests $99m to boost offshore wind growth in Europe French cabling specialist Nexans has announced plans to invest €90m ($99m) to support the growth of offshore wind in Europe. The investment will include the construction of a new, 53-meter tower for the insulation of onshore cables at Nexans' plant in Charleroi, Belgium, and will allow for the production of 3,000 mm2 525kV HVDC onshore ...
American study makes strong case for greater shore power investment A landmark study released today makes a strong case for shore power at ports across the world. Issued by the International Council on Clean Transportation (ICCT), an NGO from Washington DC, the study is the first nationwide American port emissions screening for at-berth vessels. Using the ICCT's systematic assessment of vessel emissions model and automatic ...
World's longest green corridor proposed to get kiwis to Europe Kiwifruit marketer Zespri and its shipping partner ANL, CMA CGM's Australian subsidiary, have launched a feasibility study into the possibility of a low-emissions corridor between New Zealand and Belgium. A feasibility study was launched earlier this week which will look into setting up a low-emissions shipping corridor between Tauranga and Zeebrugge via the Panama Canal. ...
Dutch authorities assess bridge hit by overstacked container barge A cargo barge has collided with the Willemsbrug road bridge in Rotterdam resulting in five containers falling into the Maas river. The collision at the bridge happened at around 8:45 am local time on Wednesday. Investigations are ongoing to assess the extent of the damage. Fortunately, no one was injured. The bridge did sustain damage ...
Cido's cape exit confirmed Cido Shipping's cape exit has been confirmed as Chinese cape player Rongchang welcomes its fourth cape in three years. This summer sales chatter surrounded the sale of the 18-year-old cape, Great Navigator, with a few brokers indicating that that ship was for sale. Now a price tag of $19m and the buyer is attached to ...
Vale ups iron ore export forecasts In a boost for capesize owners, Brazilian mining giant Vale yesterday upped its full year iron ore export forecast to between 323m and 330m tons, up from earlier predictions of 310m to 320m tons. The news is juxtaposed against a time when iron ore prices are at two-year lows. Cape rates have enjoyed a very ...
Bassadone spins off Peninsula's shipping business Bunkering giant Peninsula has spun off its shipping activity. John Bassadone, Peninsula's founder, yesterday officially launched his shipping venture, Hercules Tanker Management (HTM), operating as an independent shipowner, active in chartering tonnage and commercial management. Tonnage previously owned and operated by Peninsula has moved to HTM, but will continue to be utilised by Bassadone's ma
Troubled ship carrying ammonium nitrate applies to call in Lithuania A troubled Russian ship with a potentially explosive cargo of 20,000 tons of ammonium nitrate is seeking permission to carry out repairs at Lithuania's Klaipeda port. Splash reported last week that the Ruby, a 37,000 dwt open hatch carrier, carrying 20,000 tons of ammonium nitrate, sought emergency refuge at the port of Tromso in northern ...
Hanwha looking to take full control of Dyna-Mac with tender offer South Korean conglomerate Hanwha Group has made it known that it plans to acquire all shares it currently does not own in Singapore-based oil and gas fabricator Dyna-Mac via a tender offer worth up to 600bn won ($448m). The conglomerate's defence and shipbuilding units Hanwha Aerospace and Hanwha Ocean already own a combined 25.36% stake in ...
Gulf Marine Services pens new long-term vessel deal London-listed liftboat operator Gulf Marine Services (GMS) has won a new long-term contract for one of its vessels in the Gulf Cooperation Council (GCC) region. The contract spans a total of five years, inclusive of optional extensions, and contributes to further improvement in fleetwide average day rates. This contract takes the company's backlog to $464m. ...
IKM Operations gets work on three Repsol fields in Norway The Norwegian arm of Spanish energy giant Repsol has picked IKM Operations for the provision of integrity management services at three oil and gas fields off Norway. The scope of work includes engineering tasks and inspections at Repsol Norge topside facilities and subsea installations and pipelines at the Yme, Rev, and Blane fields. The contract ...
A $13m extension keeps Prosafe flotel in Gulf of Mexico for even longer Semisub accommodation vessel owner Prosafe has won another extension for the charter of its flotel Safe Concordia. The company won the original contract for the vessel with an undisclosed US Gulf of Mexico major back in October 2022. The initial deal for the 2005-built unit entailed accommodation and construction support services for 330 days with ...
Iberdrola secures contract to build 791MW wind farm off Massachusetts Spanish electric utility company Iberdrola, through its US subsidiary Avangrid, has been awarded a 791MW contract to build the New England Wind 1 offshore wind farm. When operational the wind farm will produce clean energy to 400,000 homes. The project will also create more than 4,400 full-time equivalent jobs and bring $3bn of local investment ...
Germany approves Meyer Werft bailout The federal government and the state of Lower Saxony are collectively buying up 80% of Meyer Werft, as one of Germany's most famous shipbuilders struggles with a nearly €2.8bn ($3bn) hole in its balance sheet. The German federal budget committee approved the government's plan to save the shipbuilder yesterday morning which will see the company's ...
Exploring hydrogen-based fuel opportunities in Asia-Pacific and Africa Dr Carlo Raucci, director of sustainable fuels and strategy at the Lloyd's Register Maritime Decarbonisation Hub, writes for Splash today. As the maritime industry faces growing pressure to decarbonise on a global scale, hydrogen-based fuels are emerging as one of the key options to reduce emissions. But tackling this global challenge will require global cooperation, ...
UK contributed to 'shadow fleet' evolution as sanctions side effect, says Sovcomflot On Wednesday, the UK sanctioned a further 10 tankers owned by Sovcomflot for breaching the oil price cap imposed on...
Recently acquired Schuyler Line secures $17.1m US government contract Schuyler Line, which was recently acquired by institutional investors advised by JP Morgan, has secured a US government contract worth...
Default clause should reverse decline in Lloyd's Open Form use, Lloyd's Market Association insists 'Our members really do like Lloyd's Open Forms, in the right circumstances. It is the best contract when you have...
Vale increases its iron ore forecasts as cape rate recovery shows staying power Brazil-based mining giant announced the increase to investors this week, despite iron ore prices falling in 2024
Dark fleet tanker Mando One seen at anchor off Italy Elderly ship is one of 30 linked to Radiating World Shipping Services and Star Voyage Shipping Services, listed by the...
Red Sea crisis may have a longer tail for box shipping The length of time that the Red Sea crisis will keep holding back a wave of overcapacity in container shipping...
Vessel leaving Ukraine struck by Russian missile There are no known casualties so far following Russian strike. Vessel was destined for Egypt with Ukrainian grain cargo
European shipowners launch clean fuels platform with producers Ecsa and fuel producer organisations such as FuelsEurope and EWABA set up the new platform to improve communication between the...
G7 price cap undermined as oil price drops and Russia reintroduces sanctioned tankers Four Sovcomflot tankers designated by the US Office of Foreign Asset Control in February loaded cargoes in August, along with...
The week in bunkers: Is Rotterdam's subsidised bio-diesel an option for ETS and FuelEU compliance? Bunker bio-diesel prices could rise in 2025 if suppliers cannot claim Dutch subsidies called HBE-G for ISCC-certified products
State support for troubled cruiseship builder a 'very good' deal for German government The problems Meyer Werft is experiencing are of a temporary nature, says Reinhard Lüken of the German Shipbuilding and Ocean...
Yangzijiang to take 34% stake in Tsuneishi's China yard for $117m The joint venture is expected to combine the strengths of both groups
Hafnia cannot locate owner, manager or insurer of Iran-linked tanker Ceres I Hafnia's inability to 'directly communicate' with those behind the vessel Ceres I underscores the risks for vessels transiting through South...
Australia to build strategic fleet through pilot scheme Establishing a strategic fleet was an election promise of the Albanese government in 2022, and now a pilot scheme will...
Former CSSC financial executive faces bribery charge A court in Shanghai has approved the arrest of Li, who has been handed over to prosecutors
Seafarer mental health exclusion criteria needs revision as shipowners play it safe While it is crucial to distinguish between a temporary 'state' and a long-term 'trait' when assessing seafarers' mental health for...
Predicting geopolitics 'a mug's game', shipping investors told Trying to predict when the wars in Ukraine or Gaza will end is hard. But when they do end, the...
Hanwha to acquire Singapore topsides specialist Hanwha Group plans to exploit synergies, with the reputed fabricator to meet expected rising global demand for floating offshore plants
Daily Briefing The curious case of an Iran-linked gas carrier anchored off Houston | Blueprint for Europe's economic overhaul reinforces need for...
ZPMC 'pressures' US ports for remote crane access: House report The report aims to bolster the case for heightened cyber-security efforts at US ports, which the congressmen who authored the report say are vulnerable to Chinese espionage.
MSC's global scale enables standalone network coverage The carrier this week unveiled a comprehensive network coverage plan, coupled with two slot-swap agreements, that it described as "independent, competitive and complete."
Robust e-commerce demand a gift for air cargo carriers: airline executives Still, the buoyant mood of carriers contrasts with global forwarders that have low levels of exposure to e-commerce shipments and are under pressure to find capacity for traditional customers.
Norfolk Southern fires CEO Shaw after probe; CFO George elevated to top job The railroad terminated Shaw's employment after an internal investigation found he engaged in a relationship with the company's chief legal officer in violation of NS policy.
Tale of woe for ocean container shippers going from bad to worse For shippers fending off one supply chain shock after another, all the while trying to keep inventory and other supply costs in control, what is happening on the carrier front for them is yet another headache, and one not likely curable any time soon.
Jefferies cuts Nordic American Tankers on fleet age and Tsakos Energy on debt ratio Both companies go to 'hold' status, but analyst Omar Nokta is generally positive on tankers heading into winter
South Africa mounts rescue after Alphard-owned offshore vessel beset by fire and abandoned Fire started in galley and spread uncontrollably, but all crew members are safe
Quality first: Nordic American having 'no trouble' fixing older suezmaxes Chief executive Herbjorn Hansson says good people and good ships can trump younger tankers
Global supply chains at risk without seafarer reforms, new report finds Global Maritime Forum initiative urges action to protect workforce well-being
Tysers anoints Gard the king of the P&I jungle Insurance broker says Norwegian insurer set to continue its domination of the sector
Existing fleet 'biggest problem' facing green shipping drive, says engine maker boss Uwe Lauber "It's not a slow transition ... but it will take time," says IMO's Dominguez
Juicy shipping deals and call options: How Bassadone and Bugbee made big bucks on side bets This week's Streetwise takes a look at how two shipowners have put their money to work quite profitably
Navigator Holdings seen 'riding the NGL wave' as DNB starts coverage with 'buy' Company is trading at 'solid' discount, analyst Jorgen Lian says
Grain ship hit by Russian missile, Ukraine president Zelensky claims Ukrainian president says no human casualties reported so far in the incident
NAT boss Herbjorn Hansson would sell the company 'tomorrow' for the right price Norwegian executive has John Fredriksen on speed dial, but merger not on the cards
Shipowners' Club eyes changing weather amid improving results Specialist P&I provider is monitoring weather patterns to gauge impact on smaller vessels
International Seaways happy to have John Fredriksen on board after takeover scare CFO Jeffrey Pribor discusses 'really nice relationship' with tycoon
Oil price shift gives VLCC owners hope as Atlantic loadings set to rise, BRS says Shipbroker believes narrowing of gap between Brent and Dubai grades will increase tanker utilisation next month
Owners splurge $135bn on newbuildings as prices stay high, Clarksons says UK shipbroker believes 2024 set to be one of the strongest on record for shipyard contracts
China slowdown puts brake on global oil demand, says energy body IEA Chinese switch to electric vehicles and long-distance train travel appears ahead of schedule, says group
Red Sea and Panama Canal disruption cost economy $1.25trn, says Russell Group Russell Group says crude oil, plastics and cars among the sectors most badly affected
Costamare shifts strategy, from capesizes to a $25m ultramax deal - what's behind the move? Greek owner is believed to have picked up a 10-year-old Japanese vessel
Galveston LNG Bunker Port gets gas supply in place Developers advance LNG marine fuel project for the US Gulf region
Stormtroopers, shipping and the shadow fleet: Why the seas need rules Shipping leaders fear for the long-term consequences of war on the law of the seas
Bulker carrying explosive cargo seeks repairs in Lithuania after Norwegian expulsion Master of Ruby applies to dock in Klaipeda with 20,000 tonnes of ammonium nitrate on board
Fresh Red Sea salvage operation underway to save tanker struck by Houthis 'More powerful means' to be employed in second attempt to rescue the burning 163,800-dwt Sounion
Hanwha Ocean and affiliate make play for offshore marine construction company Group companies make offer on Singapore's Dyna-Mac Holdings in bid to grow FLNG and FPSO business
Red Sea and Panama Canal disruption cost economy $1.25 trillion, says Russell Group Russell Group says crude oil, plastics and cars among the sectors most badly affected
Nautilus International's Mark Dickinson elected president of UK Trades Union Congress First seafarer to hold the position since 1958
How Western shipowners are profiting from the rise of Putin's shadow fleet Analysis of ship loadings at Russian port highlights the scale of the sale-and-purchase boom in ageing tankers
Costamare switches focus to ultramax segment amid rising S&P market Greek owner is believed to have spent $25m on 10-year-old Japanese vessel
Frontline bullish on tankers as market passes early September threshold John Fredriksen-backed owner found 9 September is the typical bottom of the tanker market
Ship repair companies chase shipowners for payment in new arrest cases Vietnamese chemical tanker and a US tug are seized by the Sheriff of Singapore
'Getting people to invest is one of the hardest tasks we have,' says Tufton chief Shipping divided on whether now is the time to invest
Turkey snubs EU over weapons check on Libya-bound container ship Irini taskforce says it was denied access to Arkas Line's Matilde A
Inge Reinertsen 'takes captain's armband' as CEO of expanded SpareBank 1 CFO steps up to run lender, which will seal merger with sister operation on 1 October
France chases master of Russian ro-ro for alleged sanctions breaches Cargo ship left French port the day after the start of the Russian invasion of Ukraine
Glencore's former oil boss denies bribery as major UK trial approaches Four other ex-traders face charges in case relating to alleged corruption in Africa
John Fredriksen's SFL lands cheaper bond financing with new $69m five-year issue Shipowner will call existing NOK 600m 2025 bonds
Singapore court warns against using 'blunderbuss' approach to set aside arbitration awards Judge stresses the importance of adopting a 'discerning approach' rather than throwing the kitchen sink
Air Canada labor dispute puts supply chains at risk Air Canada and Canadian businesses are imploring the Canadian government to take action as the airline's standoff with pilots over a new contract nears a tipping point.
Potential port strike a dilemma for Harris The Biden administration could face either the wrath of unions or public perceptions of a faltering economy, depending on whether it intervenes in East and Gulf Coast dockworkers' labor dispute with port employers.
WestJet adopts new business model for freighter aircraft WestJet Cargo is trying to find an alternative revenue stream after a new investment in four freighter aircraft didn't meet revenue expectations.
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