VIDEO: Royal Caribbean hosts maritime decarbonization summit on Utopia of the Seas In an initiative to accelerate the maritime industry towards its net zero sustainability goals, Royal Caribbean Group recently hosted a three-day maritime decarbonization summit aboard its newest ship, Utopia of the Seas.
Canada to acquire up to 12 under-ice capable submarines In a statement that was perhaps somewhat overshadowed by the announcement of the ICE Pact, Canada's Minister of National Defence, Bill Blair, last week announced that Canada is taking the first step
EV Maritime selected to electrify popular ferry service in San Francisco Bay EV Maritime, a New Zealand-based electric ferry design and technology company, announced July 12 that it has been commissioned by Angel Island Tiburon Ferry (AITF) to design an all-new hybrid electric vessel
UKMTO reports multiple Houthi attacks involving two merchant vessels Despite efforts to deter them, multiple Houthi attacks continue to make Red Sea transits a risky business. UKMTO today reported attacks involving two merchant vessels. In the most recent, which took place
VIDEO: Ultra-luxury superyacht Ilma joins Ritz-Carlton Yacht Collection A second ultra-luxury superyacht has officially joined the fleet of the Fort Lauderdale, Fla., headquartered Ritz-Carlton Yacht Collection. Company officials took delivery of the vessel, the Ilma, at the Chantiers de l'Atlantique
Ferry community to meet in Seattle this October for Marine Log's FERRIES 2024 conference The 37th annual Marine Log FERRIES conference, set to take place at the Hyatt at Olive 8 in Seattle, Wash., on October 29-30, will focus on how ferry operators can optimize their
Edward Maritime launches the Raptor for inland Pensacola, Fla.-based Edward Maritime, a shipbuilding and repair company that provides steel fabrication services to the Eastern Seaboard and the Gulf Coast, recently launched the Raptor 1, a compact and versatile push
Podcast: Advancing women in maritime Hello, and welcome to another installment of Marine Log's ListenUp! Podcast. I'm your host, Heather Ervin, editor in chief of Marine Log. Today, we'll be talking to Dorthe Karin Bendtsen, chief operating
San Antonio Terminal Internacional appoints new general manager San Antonio Terminal Internacional (STI), operated by SSA Marine and SAAM Terminals, announced that Andrés Albertini, STI's current commercial manager, will become the general manager of the company on 1 August. "We know that his experience will help us continue moving the port into the future with our ever-present pillars: commercial excellence, quality and sustainability. In recent years, Chile
CMA CGM applies new peak season surcharge from Latin America to West Africa CMA CGM will implement a new Peak Season Surcharge (PSS) from Lating America to West Africa, scheduled to start on 1 August (based on the loading date). The new surcharge will last until 10 August for Colombia, Panama and Venezuela and until further notice for all the destinations mentioned below. CMA CGM's new PSS will apply to dry cargo originating from the West Coast of South America, the West
Maersk announces PSS update from IMEA to US and Canada Maersk is updating the Peak Season Surcharge (PSS) for shipments from India, the Middle East, and Africa (IMEA) to the United States East & Gulf Coast and the Canadian East Coast, applicable to 20' dry, 40' dry, 40' high dry, 45' high dry, 20' reefer, and 40' high reefer containers. The following fresh surcharges will take effect on 2 August 2024. Origin Destination Container type Rate Currency U
Maersk implements PSS from South China to Cambodia Maersk is introducing a Peak Season Surcharge (PSS) for dry and reefer containers from South China ports to Cambodia's port of Sihanoukville, starting on 28 July 2024. The updated tariff rates are as follows: Origin Destination Effective Dates Container Type Currency New tariff levels Shekou, Hong Kong, Yantian, Nansha, Huangpu and South China area Sihanoukville, Cambodia 28 July 2024 All dry, al
House of Shipping, new strategic marketing and communications partner for Gulftainer House of Shipping, a provider of business consultancy and advisory services in the maritime, shipping, and logistics industries, has announced an agreement with Gulftainer, an operator of regional ports and terminals, known for its customized supply chain and logistics solutions. "House of Shipping's track record in maritime marketing is impressive, and we are confident that their expertise will
MSC's MEDLOG breaks ground on new cold storage facility in Georgia MEDLOG, the logistics division of MSC, has officially commenced construction on a new 27,034 m², state-of-the-art cold storage facility in Savannah, Georgia. MSC said this significant project will enhance the export capabilities of poultry, pork, and meat producers in the United States Southeast and Midwest. The Savannah facility, which is expected to become operational by mid-2025, will introduc
OOCL achieves growth in both revenue and volumes Orient Overseas Container Line (OOCL) has announced increased revenues and volumes in the second quarter of the year compared to the same period in 2023. In particular, the COSCO-owned ocean carrier reported US$2.26 billion revenues in the second quarter of 2024, translating to a 14.4% increase from the same quarter in the previous year. Additionally, the total liftings of the box line in 2024 Q2
CMA CGM introduces US$1,000 surcharge from India West Coast to East Africa and Indian Ocean French ocean carrier CMA CGM has notified its customers of an upcoming Peak Season Surcharge. This surcharge will be effective from 1 August 2024 (based on the loading date) and will remain in place until further notice. CMA CGM's fresh PSS will apply to all types of cargo originating from the India West Coast and destined to East Africa and the Indian Ocean. The surcharge will be US$1,000 per co
Montreal Port Authority completes major rail capacity optimization project The Montreal Port Authority (MPA) announced the completion of its significant rail capacity optimization project, an initiative aimed at enhancing the performance and efficiency of the port's logistics services. Implemented over three years at a total cost of US$46 million, this ambitious project stretches from Bourbonnière Avenue to Panet Street, near the Jacques-Cartier Bridge, and represents a
CSP Abu Dhabi Terminal reaches 5 million TEU milestone On 5 July, the COSCO Shipping Ports (CSP) Abu Dhabi Terminal exceeded 5 million TEUs since its inauguration in December 2018. The terminal has launched over 20 international routes and established connections with more than 60 ports. In 2024, the introduction of six new routes increased volume by over 35%, reaching 6.5 million safe man-hours. Last year, CSP Abu Dhabi Terminal became the first ter
Maersk launches new service connecting China with Bangladesh Maersk has launched a new ocean shipping route between China and Bangladesh in response to increased trade demands, particularly within the retail sector. Named SH3, this new service began operations on 7 July 2024 and significantly enhanced capacity on the maritime route linking the two countries. "In this time-sensitive industry, retailers demand timely delivery across the entire supply chain t
Get a Temporary Phone Number for SMS Verification in 2024 SMS verification is one of the most used security strategies in the contemporary world due to the rapid development in the usage of digital services. When registering on a freelance platform, accessing an online store, or using any digital service, you may be required to confirm your identity via SMS. But what if you don't want to share your phone number? This is where a temporary phone number co
ABP enhances marine operations with advanced pilot launch upgrade Associated British Ports (ABP), the UK's largest port operator, has announced a significant capability upgrade programme for its latest series of pilot launches. These launches, built by UK-based Goodchild Marine Services Limited, are already highly capable assets. The upgrades, incorporating feedback from ABP's pilots and marine teams, further enhance the safety, effectiveness, and sustainabilit
Innovating the Sports Industry: How Software Development Services Can Help Technology is increasingly harnessed in the sports industry to raise performance, fan engagement, and operational efficiencies. Software development services are torchbearers of this metamorphosis through innovative solutions catering to the diversified needs of sports organizations, athletes, and audiences. For those looking to further innovate in this sector, Requestum's sports software develop
Mandrel Bending Applications Across Industries Precision and quality are involved in the field of manufacturing and so it means that there is need for maintaining quality and precision in the products of manufacturing. Mandrel pipe bending is one of the most efficient techniques of bringing bends in pipes and tubes. Mandrel pipe bending is very crucial for the bends with walls or sharp radius since they help to avoid pipe contraction or failu
SAAM Terminals appoints new senior VP of Commercial & Business Development Starting 1 August, Rodrigo Galleguillos will assume the position of senior vice president of Commercial & Business Development at SAAM Terminals. Galleguillos holds an undergraduate degree in business administration and a master's in finance from Universidad Adolfo Ibáñez in Chile, as well as an MBA from Bond University in Australia. "In recent years, Rodrigo has led the operations of San Antonio
HMM, ONE launch new Far East Latin America Express service HMM and Ocean Network Express (ONE) will introduce an enhanced service connecting Far East Asia with Latin America. This new product, named Far East-Latin America Express (FLX), is expected to commence operations on 16 August from the port of Shanghai. The service will need 42 days for a complete round-trip. The port rotation of this service will be Shanghai (China), Busan (South Korea), Lazaro C
Verma returns to Landbridge Ship Management as managing director Hong Kong's Landbridge Ship Management has appointed Sanjeev Verma as its new managing director. Verma brings over 28 years of experience in the industry, having held key leadership roles in his career. He held the same role at the company from 2018 until mid-2023. Between his two stints in Landbridge Ship Management, Verma served in ...
Series of attacks launched against ship off Yemen An unnamed ship came under attack Monday by a series of small vessels and missiles some 70 nautical miles (130km) southwest of Yemen's port city of Hodeidah. The United Kingdom Maritime Trade Operations (UKMTO) said the vessel had reported two collisions with an unnamed craft, while two manned small craft fired at it in a ...
Wuhu Shipyard to build two 400 teu fully electric river-sea boxships Chinese shipbuilder Wuhu Shipyard has signed a deal with Zhejiang Zhonghuaizhou Shipping Technology to build a pair of river-sea pure electric containerships. According to the shipyard and its subsidiary Tri Water New Energy Technology, the 400 teu boxships will be the first vessels of its kind in China. The total length of the vessels is ...
Torm snaps up eight MRs in $340m deal Danish tanker owner Torm has increased its fleet with the acquisition of eight second-hand MR tankers for a total consideration of $340m. The delivery of the vessels is to occur during the third and fourth quarters of 2024. Of the total price, $238m will be paid in cash while the rest will be settled with ...
Saipem lands $500m deal in Saudi Arabia Italy's Saipem has secured work in Saudi Arabia worth a total of about $500m. The Milan-listed offshore engineering and construction giant said Monday that the deal covers two offshore projects under the existing long-term agreement with Saudi Aramco. For the first project, Saipem's work scope covers the engineering, procurement, construction and installation of a crude ...
Marinakis in for modern newcastlemax Greece's Capital Maritime & Trading is no exception among cash-rich owners placing bids in the large bulker segment. Brokers tell Splash the Evangelos Marinakis-controlled diversified group has snapped up the 2021-built newcastlemax Berge Bobotov from James Marshall-led Berge Bulk in a deal worth about $75m. The buyer has been identified as Capital Executive Ship Management, ...
Cadeler eyes vessel work into 2029 Copenhagen-headquartered offshore wind installation player Cadeler has signed a preferred supplier agreement to transport and install wind turbine generators (WTGs). The agreement was signed with an undisclosed client and secures vessel capacity for an installation campaign set to begin in 2029. According to Cadeler, the effectiveness of the agreement is contingent upon the undisclosed client's ...
Nisshin fleet clear-out gathers pace Handysize sales fill up this week's broking reports as buyers look to the segment, as the smaller ships are still seen as the most stable investments in dry. In this segment handysize specialist Precious Shipping, led by Khalid Hashim, is back in the news after snapping up a handysize vessel, tabling $18.6m last month for the ...
Pertamina and BGN team up for more very large gas carrier newbuilds Indonesia's Pertamina International Shipping (PIS) and Dubai-based multi-commodities trader BGN have once again partnered on a very large gas carrier newbuilding project in South Korea. The duo has joined forces for a pair of 88,000 cu m VLGCs at HD Hyundai Heavy Industries, which, upon delivery, will go on a long-term charter with BGN. BGN ...
Argentina set to become part of the VLCC trading map Argentinians could soon see very large crude carriers (VLCCs) off their coastline. A pipeline is under construction to deliver crude from Vaca Muerta, South America's largest shale formation, to Punta Colorada port, located some 300 km south of the capital Buenos Aires on the Atlantic. According to broker Gibson the new pipeline is expected to ...
NASCO inks ultramax newbuild brace at domestic yard Nanjing Ocean Shipping Co (NASCO) is expanding its fleet with additional ultramax newbuilds at a domestic yard. The Chinese bulker player has returned to China Merchants Jinling Shipyard in Nanjing for a pair of 63,500 dwt units, delivering in 2027. NASCO owns and operates more than 20 bulkers, mostly in the supramax segment. No price ...
Adani to build port in Vietnam India's Adani Group has announced plans to construct a new port at the central Vietnamese city of Danang. Adani Ports and Special Economic Zone (APSEZ), the group's port company, has secured an "in-principle approval from the Vietnamese government" for the greenfield project, according to Karan Adani, CEO of APSEZ. The proposed port project, Adani's ...
Botswana signs coal export deal with Zimbabwe and Mozambique Landlocked Botswana, which boasts the third largest coal reserves in Africa, has a potential new export route. Botswana has signed a deal with Zimbabwe and Mozambique to develop a massive rail and port project, albeit that financing is still not in place for the planned infrastructure. The project involves upgrading existing rail lines, and building ...
Washington demands more information from Maersk and Hapag-Lloyd over Gemini creation Throwing a kink in their launch plans, Maersk and Hapag-Lloyd have been asked to provide more information about the creation of the Gemini Cooperation. The two European containerlines are joining forces from next year to create a new liner grouping, which still needs regulatory approval from around the world. The Federal Maritime Commission (FMC) in ...
Large forwarder acquisition activity, advent of AI puts pressure on midsize NVOs Midsize NVOs are always under pressure from an M&A perspective, say market observers, and the current freight rate environment is making it hard to value them accurately.
Most newbuild capacity headed to Asia-Europe amid ongoing diversions The capacity deployments during the first half of 2024 show that smaller carriers have been deploying many of the new large ships serving the North America trade, while major alliance carriers have deployed most of their big vessels on Asia-Europe.
Elevated rates set OOCL on track for highly profitable first half The Cosco subsidiary benefited from a sharp increase in rates as early peak season demand on the main trades out of Asia filled all available vessel capacity.
Carriers revalue Colombo transshipment calls amid congestion, Indian hub push Colombo in recent months has found itself suffering serious capacity issues - an opportunity the Indian government and the country's port stakeholders are looking to take advantage of.
ILA says strike 'more likely' as contract deadline looms with no progress The president of the International Longshoremen's Association said maritime employers "are running out of time" to sign a new contract before the current deal's expiration on Sept. 30.
Heatwave drives up Vietnamese panamax demand on coal import surge, says Braemar Broker states half of all coal cargoes in the first half of 2024 were carried by the vessel-type
Bourbon boss Gael Bodenes to appeal conviction in West African corruption case French shipowner's CEO is trying to overturn verdict of Marseilles court
Scorpio Tankers shares firm on $59m stock-repurchase splurge Tanker owner makes good on pledge to spend cash on its own stock
CMA CGM pens $2.7bn order for LNG fuelled container ships in South Korea French liner giant orders a dozen 15,500-teu newbuildings at HD Hyundai Samho
Why methanol shipping pioneers are giving LNG fuelling a second look As the alternative fuel orderbook returns to LNG, the availability of methanol also affects appetite
VLCC rates tipped to gain as work starts on 'dead cow' pipeline linked to giant shale project The Vaca Muerta field holds the world's second-largest shale gas and fourth-largest shale oil reserves
Oil tanker damaged as armed guards blow up remote-controlled boat used in Houthi attack Second attack of the day targeted crude carrier in the southern Red Sea
Booming transpacific trade boosts revenue at Orient Overseas Container Line Cosco-controlled liner operator sees Asia-US revenues soar 42% in second quarter
Sinokor tipped to take Torm stake after eight-ship cash and shares tanker deal South Korean owner identified as seller of eight MR tankers to Danish operation
Genco has the firepower to buy without hurting dividend, Fearnley Securities says Low debt level puts US-listed owner in strong position, analysts say
Rates premium sees tally of crude tankers carrying clean cargoes almost double S&P Global counts 151 ships muscling in on product trades for commodities groups
Greek players Coral and Lion seal bumper product tanker asset plays Product tankers are the gift that keeps on giving in the secondhand market
'Six-digit rate': CMA CGM pays top dollar to charter Sinokor newbuilding South Korean operator cashes in on short-term relets as charter market slows
Bunnemann brothers target dry bulk after winning boxship, tankers and car carrier wagers Brothers Nicolaus and Friedrich have diversified family-run fleet
Shipping facing $1.46bn in penalties from next European carbon emission crackdown Possible new market set to emerge as ship operators trade FuelEU Maritime surplus and deficit volumes
Stowaways gaining the upper hand in game of cat-and-mouse with port authorities Security expert says stowaways with inside knowledge of ship operations pose problems for authorities
New Maersk and Hapag-Lloyd alliance hits regulatory stumbling block in US Approval of Gemini Cooperation in the US put on hold by FMC questioning
Gunvor books Nordic American and SK Shipping tankers after North Sea crude buying spree Owners awaiting more cargoes after traders build up oil backlog
George Procopiou extends $1bn bulker order push with fresh deal at 'restructured' shipyard Greek owner has contracted Sainty Shipbuilding to build six newbuildings
Houthis ram ship in rerun of tactics that sank Greek bulker Militants apparently called off their attack after a firefight broke out
Torm splashes out $340m on eight product tankers in expansion drive Danish owner goes for Hyundai Mipo-built ships in a part-stock deal
Precious Shipping poised to pounce on Japanese-owned handymax bulker quartet Khalid Hashim-led company is said to be close to finalising the deal to buy ships from Nisshin Shipping
Thanassis Martinos sells oldest bulk carrier into the aggregates trade Kuwait-based Combined Group Rocks emerges as new owner of Eastmed vessel
Record LNG carrier orderbook to be absorbed by major gas project growth, Clarksons says Analyst Sarah Holden expects to see strong demand gains, despite huge backlog of newbuildings
Maersk approaches shipyards for its own raft of LNG-fuelled container ships Jaw-dropping change of tack for methanol pioneer could give it 23-ship fleet able to bunker LNG
Nordea shipping loan book falls in first half as capital markets take a turn for the better CEO says debt activity remained high
Galtung Dosvig's EGD sticking with tankers for now after strong annual shipping profit Norwegian owner expects another good year, but diversification is not on the cards
Hong Kong's Captain Chan buys one of Bahri Chemicals' older MR2 tankers Sale of NCC Tihama is part of the Saudi Arabian shipowner's fleet renewal
A $200m hedge fund digests Red Sea hostilities as 'multi-year up cycle' unfolds Albemarle Shipping Fund has returned 25.2% this year
Cape of Good Hope storms slashed vessel arrivals by 80%, says Clarksons Transits returning to normal, but another bout of bad weather is expected off South Africa this week
BGN doubles up on VLGC newbuildings at Hyundai yard Company is paying 5% more for the latest two newbuildings compared with its earlier vessels
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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