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JANUARY 16, 2024

Allcargo Gati appoints Uday Sharma as Chief Commercial Officer Shipping in Red Sea dips due to retaliation fears The EU moves towards a new paperless Customs System from June 3, 2024 East Coast Maritime Forum & Eastern Star Awards 2024 sees top-notch participation in an engrossing discourse and acknowledgement of success & achievement PSA International enjoys record-breaking year AP aims to develop its waterways for industrial cargo movement No plan to lift export curbs on wheat, rice, sugar: Minister Security of all shipping harmed after US strikes, group warns Yanbu Industrial Port has received the first RoRo vessel since its establishment Plaquemines Port & APM Terminals unveil partnership to develop major container terminal in Louisiana 'Rail Connected' gives greater insight into Port of Rotterdam train composition ZIM to deploy tracking devices on dry-van container fleet APM Terminals Pipavav inks MOUs contributing to economy, community & environment

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JANUARY 16, 2024

Maersk switches to Panama Canal Railway Röhlig China: more power to the regions Thirteen days less A spicy partnership Singpost drives digitalisation Celebi appoints new CFO Bangkok Port Authority opens free zone More connections to port of Hamburg Launching a "liquid air cargo" branch CTL launches Europe-wide procurement PSA thrives in 2023 From air to rail "Curiosity of the Day" A Boeing 777 freighter for Atlas Air Transcontainer to build two intermodal hubs Moving a backoffice to Greece LHG braves economic headwinds A new director of operations

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JANUARY 15, 2024

Container shortage starts to bite, adding to pressure on costs The Red Sea crisis: Freight rates soar as CNY capacity and equipment crunch looms Maersk the most active carrier in a 'hectic' charter market DB Schenker sale deadline - 'heard anything?' Integrators face probe into allegations of price-fixing at Indian airports Shippers beware: a US east coast labour battle could be heating up FMC asks shippers to share info on Red Sea disruption and charges Who is the real loser in the Boeing/FAA saga? Four low-cost carriers ready to bid for Asiana's airfreight unit OceanX: War at sea & rates hedging; doom forecasts; LogTech's deep winter How shippers can prepare for whatever the Red Sea crisis throws at them Xeneta names Tonia Luykx as new chief revenue officer Frédéric François to lead FedEx Express ground operations in Italy, Spain & Portugal Svend Stenberg Mølholt appointed CCO at Inchcape Shipping Services

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JANUARY 15, 2024

Eagle Bulk's Gibraltar Eagle hit by Houthi missile Today, at approximately 4 p.m. (Sanaa time), Gibraltar Eagle, a Marshall Islands flagged ship owned and operated by Stamford, Conn., headquartered Eagle Bulk Shipping, was struck by what U.S. Central Command says

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JANUARY 15, 2024

Strategic SEO Selection: Your Roadmap to the Best-fit SEO Company Having a strong online presence is crucial for the success of any business. And even with Search Engine Optimization (SEO) playing a vital role in boosting your website's visibility and driving organic traffic, choosing the right service provider can be a daunting task. To help you make an informed decision, here's a straightforward guide to hiring the best SEO company for your business needs. 1. AD Ports and CMA CGM partner with Ecocean to maintain marine biodiversity at Khalifa Port AD Ports Group has joined forces with CMA CGM Group and Ecocean, an innovative company dedicated to aquatic biodiversity. The three parties have formalized a scientific cooperation framework agreement to introduce 48 Biohuts at Khalifa Port in UAE. The Biohut module, designed to enhance biodiversity and foster marine life in coastal and harbour areas, is an underwater structure providing a secure Inchcape Shipping Services appoints new chief commercial officer Inchcape Shipping Services (ISS), one of the world's leading port agency and marine service providers, announced the appointment of Svend Stenberg Mølholt as chief commercial officer. Bringing with him an impressive track record in propelling sustainable business transformation and growth within the maritime and IT sectors, Svend Stenberg Mølholt is well-equipped for his new role. With two decade SITC and Xiamen Port Holding Group sign cooperation deal SITC entered into a strategic cooperation framework agreement with Xiamen Port Holding Group on 10 January, marking a significant milestone in their collaboration. During the signing ceremony, Yang Xianxiang, vice chairman of the Board of Directors and CEO of SITC, expressed gratitude to Xiamen Port Holding Group for its support and high-quality services. According to a statement, SITC plans to l Red Sea crisis changes container shipping situation from glut to tightness The closure of the Suez route has changed the fundamental outlook for container shipping in 2024, with a potential capacity crunch in Asia looming in the short term, according to the January report of the Baltic Exchange. In the report, Vespucci Maritime CEO Lars Jensen wrote that up until mid-December 2023, the baseline outlook for 2024 was for a continued cyclical downturn likely with freight r PSA breaks container volume record in 2023 PSA International reported a record-breaking year handling 94.8 million TEUs across its port terminals around the world in 2023. PSA's flagship terminal in Singapore contributed 38.8 million TEUs and the operator's terminals outside Singapore handled 56 million TEUs. The Group's box volume increased by 4.3% compared to 2022 container figures. Tan Chong Meng, CEO of PSA International, commented, " HHLA implements digital solution for truck terminal access This week, Hamburger Hafen und Logistik AG (HHLA) achieved a significant milestone in enhancing the safety and efficiency of truck handling at its Hamburg container terminals. Through its innovation unit, HHLA Next, the German operator has developed the passify app, a cutting-edge product progressively replacing the conventional trucker card. The transition to passify at Container Terminal Toller January Global Shipping Report by Descartes Datamyne The following report has been written by Chris Jones, Executive Vice President of Industry and Services at Descartes Systems Group. In December 2023, US container import volume increased by 0.4% from November 2023. The slight aggregate increase masks counter intuitive swings in volume at West, East and Gulf Coast ports. The top East and Gulf Coast ports saw increases, while the top West Coast por CrimsonLogic, Mastercard ink collaboration agreement to digitalise government payments and services PSA Group's CrimsonLogic, a Singapore-based global technology company specializing in digital government and trade facilitation solutions has signed a Memorandum of Understanding with Mastercard, the second-largest payment-processing corporation worldwide. The collaboration aims to seamlessly digitalise government payments and services by leveraging CrimsonLogic's expertise in digital government Increasing temperature of frozen goods can slash carbon emissions, study shows A recent study suggests that making a slight adjustment to frozen food temperatures could lead to substantial reductions in carbon dioxide emissions. Currently set at -18°C, a standard established 93 years ago that remains unchanged, lowering it to -15°C could have significant environmental benefits without compromising food safety or quality, according to experts from the International Institute

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JANUARY 15, 2024

Eagle Bulk ship hit by missile off Yemen A bulk carrier owned by US-based Eagle Bulk Shipping has been struck by a missile in the Gulf of Aden. The United Kingdom Maritime Trade Operations (UKMTO), and maritime security consultants Ambrey said the incident occurred some 95 nautical miles southeast of Aden, Yemen. The US Central Command identified the vessel as the Marshall Islands-flagged ... UHT, Dongbang form heavy lift and deck carrier alliance Germany's United Heavy Transport (UHT) and South Korean shipping company Dongbang Transport Logistics have formed a new strategic alliance which will combine the duo's expertise in heavy lift and heavy transport vessels. The alliance was formalised with the signing of a memorandum of understanding (MoU) which will see the integration of UHT's heavy lift expertise ... N-Sea charters survey and ROV support vessel from Geo Plus Dutch subsea services specialist N-Sea Group has entered into an agreement with Geo Plus to long-term charter a hybrid survey and ROV support vessel . The 41.6-metre vessel will accompany the Geo Focus which has been under N-Sea management and control since January 2022. The Dutch-flagged vessel is equipped with an eight-tonne A-frame suited for ... Hanwha Ocean suspends production after fatal incident Hanwha Ocean has suspended production at its Okpo Shipyard on Geoje Island after a fatal accident on Friday. Local media report a 28-year-old employee of a subcontractor at the South Korean shipbuilder died in an explosion on January 12. The accident took place at a ship rudder fabrication plant at around 15.00 hrs local time. ... Fratelli Cosulich orders its first methanol dual-fuel bunker tanker backed by TFG Marine charter Italian owner Fratelli Cosulich has ordered its first methanol dual-fuelled chemical bunker tanker backed by commodities trader Trafigura and John Fredriksen. The 7,990 dwt ship will be built at Taizhou Maple Leaf Shipbuilding in China and be able to carry both green methanol and biofuels. The 8,000 cu m vessel will be delivered in Singapore ... Houthis defiant despite repeated strikes on Yemeni bases The Middle East remains a dangerous, red-hot cauldron for merchant shipping with many actors from various shorelines impinging on the safe and free navigation between Asia and Europe. The Houthis in Yemen have continued to attack, despite repeated strikes from US and UK forces against them, while Iranian special forces have completed their latest hijacking, ... NKT orders new cable laying vessel Danish offshore cabling specialist NKT has placed an order for the construction of a new cable laying vessel. According to a company statement, the order for the construction of the vessel has been placed with Norwegian shipyard Vard while the design of the vessel will be done by the Salt Ship Design. When the vessel ... The creators of The Captain's Table form start-up consultancy The people behind The Captain's Table, one of shipping's top pitch competitions, have formed a start-up consultancy. Ship Shape Strategies specialises in streamlining operations, developing robust commercial strategies, implementing innovative technologies, navigating regulatory and compliance challenges as well as training and upskilling with Su Yin Anand, Michael Wojcieszek, and Nelly Akhmedzha Vietnam's liner shipping connectivity leaps Vietnam's emergence as a manufacturing powerhouse is showing up in ever greater detail on the global container map. The Southeast Asian nation has become a go-to place for manufacturers seeking factory alternatives to China, and subsequently liners are bringing exports direct to Western markets in larger volumes. Latest data from Sea-Intelligence, a Danish liner consultancy, ... Alex Saverys outlines plans for 120 low-carbon ships The new-look Euronav is drawing up plans for 120 low-carbon ship orders. At a capital markets day on Friday, Alexander Saverys, recently installed as CEO of the tanker giant following a protracted takeover battle, outlined how he sees the Euronav fleet transitioning in the coming years, bolstered by the acquisition of clean tech firm, CMB.TECH. ... Santos to resume Barossa gas pipeline construction after court win Australian energy major Santos has been permitted to continue work on laying an underwater pipeline for its $5.7bn Barossa gas project in the Timor Sea. The company won a legal battle against a group of Tiwi Islands elders who argued that laying the pipeline would impact submerged Tiwi cultural heritage, creating a new environmental risk. ... Vietnam's top shipbuilder faces bankruptcy Vietnam's top shipbuilder, SBIC, formerly known as Vinashin, is set to be declared bankrupt after multiple efforts to restructure the sprawling company have failed. The government in Hanoi is now working out the bankruptcy process for the state-owned entity whereby it will be able to continue to build ships. The bankruptcy process is expected to ... RCL orders boxship quartet in China Multiple broking reports note Thai liner Regional Container Lines (RCL) has gone to southern China to order a quartet of 4,400 teu vessels at Guangzhou Wenchong. The pricing is $56.6m per vessel with deliveries slated for 2027. Founded in 1979, RCL has been listed on the Thai Stock Exchange since 1988. Alphaliner lists RCL as ...

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JANUARY 15, 2024

Brave identified as buyer of another two bulk carriers Company has also been taking delivery of gas carrier newbuildings, including units for Nasdaq-listed affiliate StealthGas Singapore bunker sales, container throughput hit new record in 2023 Singapore port's container throughput reached a new high of 39m teu in 2023 The week in charts: More ships divert in wake of US and UK strikes | Red Sea attacks prompt 2m teu drop in boxship traffic | Box freight rates continue to climb activity First strike on Houthi militants prompts more ships to divert away from the Red Sea, in addition to the 2m... Diversion surcharges come under spotlight Additional fuel costs are an immediate cause for concern for carriers. But they will need to ensure that surcharges are... Narrowing arbitrage sends VLGC rates cratering to lowest levels since May Propane prices have been rising in the US while falling in China, analysts say, narrowing the arbitrage and hitting VLGC... BlackRock acquires Global Infrastructure Partners GIP has been an investor in several ports and terminals, among other infrastructure projects. New ownership will see it increase... Eagle Bulk vessel struck by Houthi missile Houthis remain undeterred from US and UK strikes as US-owned and Marshall Islands-flagged bulker is hit with a missile. The... MSC containership and capesize bulker sent for recycling Sale of 1,835 teu containership MSC Uma for recycling in India under Hong Kong Convention terms realises $530 per light... The week in newbuildings: Gas and tanker sectors prevail Shipowners and brokers reported newbuilding contracts for a total of 46 vessels from the containership, dry cargo, gas, ro-pax and... PSA breaks throughput record despite slowing trade PSA International saw volumes rise by 4% in 2023, despite flat container volume demand. Flagship Singapore facility handled nearly 40m... US shoots down Houthi missile after strike on radar site Shooting down of missile on Sunday comes a day after a US strike on a Houthi radar site St Nikolas crew all 'safe and in good health' Greek manager has been unable to directly contact 19 seafarers on hijacked tanker, but P&I club correspondent says all are... APM Terminals to develop $500m Louisiana box terminal APM Terminal and Louisiana's Plaquemines port unveil agreement to build a container terminal with an estimated initial investment of $500m Frontline sells five oldest VLCCs for $290m Frontline has reached an agreement to sell its oldest VLCCs, built between 2009 and 2010 for $290m, with delivery slated... Daily Briefing More ships start to divert in wake of US and UK airstrikes | US and UK launch strikes against the...

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JANUARY 15, 2024

Eagle Bulk confirms 'projectile' attack on Gibraltar Eagle with damage but no injuries US-based owner says it's cooperating with authorities as bulker escapes troubled region Columbia launches venture capital operation for shipping start-ups Maritime services giant will help transform cutting-edge ideas into viable businesses Eagle Bulk ship takes direct hit in latest Houthi missile strike Assaults continue against commercial vessels, despite airstrikes against rebels Frontline cashes in last non-eco VLCCs with tanker prices in multi-year upswing Fearnleys boosts valuations while Cleaves says deal shows market is 'quite firm' 'Things could get ugly, fast' warns trading giant Trafigura as Middle East tensions ramp up Trader and shipowner runs a fleet of around 330 tankers currently Shipbuilder SBIC facing 'inevitable' bankruptcy as overhaul of Vietnamese state-owned yard planned Group yards with existing contracts will continue as normal Lightship strikes again: Broker snaps up US shop just days after revealing Braemar stake Broker plans to boost its broker headcount to at least 250 worldwide over the next five years Energy trader linked to VLGC newbuilding duo at Hyundai Heavy as Korean giant makes fast start to 2024 Fourth LPG newbuilding contract for Hyundai yards in two weeks as it approaches one-fifth of annual target 'Charismatic' founder of shipbroker Banchero Costa dies aged 88 Pace-setter never lost his love of the shipping business Gas explosion kills worker at Hanwha Ocean shipyard, forcing work to halt Sub-contractor thrown over 10 metres by rudder shop explosion German owner doubles up on methanol container ship orders for Unifeeder charters Elbdeich Reederei declares options for green feeder vessels in China Shipyard grinds to a halt as worker killed in gas explosion Sub-contractor thrown over 10-metres by rudder shop explosion at South Korean shipbuilder Hanwha Ocean Singapore will use credit risk profiles to reduce port dues deposits MPA aims to identify other areas for improvement to cut compliance costs and shorten processing time Houthi attacks and Western air strikes spark volatility in shipping stocks Shipping shares fell by an average of 2% last week, Clarksons says Moundreas snaps up third capesize from Greek peer Unisea Unisea exits capesize segment five years after entering it Shipping investment giant BlackRock buys ports player for $12.5bn Major deal will strengthen US fund's hand in maritime infrastructure Fratelli Cosulich orders first methanol tanker backed by charter to Trafigura Italian shipowner will take delivery of dual-fuel bunker ship by the end of 2025 MPC Container Ships signs $100m credit facility to fund further growth Four-year credit facility with Hamburg Commercial Bank at 'attractive terms' Qatari LNG carriers desert Red Sea danger zone as brokers flag huge tonne-mile impact Series of ships holding positions outside the attack-prone waters Inchcape hires former Maersk and Monjasa man as commercial boss Shipping veteran aims to 'accelerate' port agency's business Frontline's older suezmaxes could be next after owner sheds veteran VLCCs Analysts believe move towards pure play on modern tankers could continue at Fredriksen company First contact made with crew of tanker hijacked by Iran, says Greek owner Molaris A total of 60 seafarers are currently captive in Iran, Yemen and Somalia European Maritime Finance names new CEO to replace founder Martin Haugaard Danish investment manager appoints Benny Buchardt Andersen Andreas Sohmen-Pao pledges to 'build' BW Energy after reaching 52% shareholding Mandatory offer for oil exploration company's shares ended on Friday Bulker crew members threatened by gunmen in small boat west of Yemen Seafarers mustered in citadel as cargo ship changed course towards international waters MPC Container Ships signs new $100m credit facility to fund further growth Four-year credit facility with Hamburg Commercial Bank at "attractive terms", shipowner says US warplane shoots down Houthi missile in Red Sea trouble spot Attack aimed at warship is first confirmed since US-led coalition attacks on Yemen Outspoken rights campaigner turns attention to investigating abuse in shipping Human Rights at Sea founder David Hammond leaves to focus on investigations and consultancy Winning Shipping renews newcastlemax bulker fleet with secondhand vessel Singapore-based company bought Ocean Yield's 206,000-dwt Mineral Qingdao Diversified Euronav can ride out market troughs, says Ludovic Saverys Finance chief also believes greater size can appeal to bigger US investors George Procopiou's Dynacom stacks product tanker newbuilding orders in China Greek shipowner has ordered more LR1s to extend an effort to rejuvinate that area of his fleet Petrobras FPSO recycling sale leaves subcontinent yards green with envy Cash buyers warn of bleak times ahead for sector Singapore to use credit risk profiles to reduce port dues deposits MPA aims to identify other areas for improvement to reduce compliance costs and shorten processing time Singapore not involved in military strikes against Houthis, says government But city state says it continues to participate in US-led maritime initiative Operation Prosperity Guardian

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JANUARY 15, 2024

Container lines 'scramble' to rent more ships amid Red Sea crisis Houthi attacks have been a plus for shipping rates. The latest to benefit: Owners of container vessels that can be rented to shipping lines.