VIDEO: ECO Edison arrives in ProvPort Ørsted and Eversource last week marked another milestone for Revolution Wind, when Rhode Island Gov. Dan McKee, BOEM director Elizabeth Klein, BSEE director Kevin M. Sligh, Sr., and other federal, state and
U.S. port strike fears grow as ILA halts negotiations with USMX Raising the specter of a labor dispute paralyzing container traffic at U.S. ports on the East and Gulf coasts, the International Longshoremen's Association (ILA) on July 10 announced it had suspended talks
Tour Collective orders new Incat Crowther eco-tourism vessel The Tour Collective, an eco-tourism operator in Australia's southeast Queensland region, has ordered a highly customized 22-meter Incat Crowther designed tourism vessel at the Gold Coast City Marina & Shipyard in Coomera,
Kongsberg unveils design for new "Super-Efficient Bulker" Can ship owners meet stringent future compliance targets without abandoning conventional fuels? Kongsberg Maritime has unveiled a new "Super-Efficient Bulker" vessel design concept intended to enable owners to do just that. Developed
Navigating the Changing Tides of the Container Shipping Industry in East Asia As East Asia's container shipping industry sails into uncharted waters, it faces a shifting tide of customer demand reshaping the very foundations of maritime trade. Amidst emerging trends and evolving preferences, stakeholders must adapt, innovate, and collaborate to stay ahead in this dynamic and competitive arena. In the dynamic landscape of global trade, East Asia stands as a pivotal hub for
Spot rate growth slows but ocean container shipping market will remain extremely challenging Ocean freight container shipping spot rates are set to increase further, but there are signs the recent dramatic growth may be slowing. The latest data from Xeneta, the ocean freight rate benchmarking and intelligence platform, indicates spot rates on major trades out of the Far East will increase again on 15 June, but to a less dramatic extent than witnessed in May and early June. Average spot r
Sweden-Belgium Green Shipping Corridor project enhanced with new partner Port of Gothenburg, North Sea Port, and the Danish international shipping and logistics company DFDS have welcomed the Port of Antwerp-Bruges to the Green Shipping Corridor, strengthening the project's green ambitions. By 2030, two ammonia-fuelled ro-ro vessels are expected to operate on routes between Sweden and Belgium. The ports will intensify efforts on electrification and ammonia bunkering,
Containers lost at sea at record low levels The World Shipping Council (WSC) has released its annual report on containers lost at sea, revealing a significant decrease to 221 boxes lost in 2023. This marks the lowest number recorded since the survey began in 2008. Despite this improvement, the WSC emphasizes the ongoing necessity for rigorous safety measures and constant vigilance. Reduction in Losses: In 2023, 221 containers were lost at
MSC connects the Mediterranean with US through revised service MSC will revise its former standalone Türkiye/West Med to the United States service. Renamed EMUSA, the new set up will connect Mediterranean and US trade by adding direct coverage from Barcelona, Spain and Fos-sur-Mer, France. "These new calls in Barcelona and Fos-sur-Mer will further expand our transatlantic coverage, and increase trade connectivity between Europe and the United States," said M
Container volumes slip at Port of Montreal in May Container volumes dipped from May 2023 levels at the Port of Montreal, according to the latest results of the Canadian port. Container traffic at the port totaled 132,380 TEUs in May, down 3.7% from the same month in 2023, while on a year-to-date basis, container traffic was 2.1% down. Of May's total, 115,043 TEUs were loaded containers while 17,337 TEUs consisted of empty boxes. Import volumes w
GAC Group expands presence in New Zealand with Quadrant Pacific acquisition GAC Group, a provider of shipping, logistics, and marine services in the Asia-Pacific market, has finalized an agreement to acquire Quadrant Pacific's agency business in New Zealand, formerly its network partner. This acquisition represents a significant milestone in GAC's longstanding presence in the region. Established in 2008, GAC New Zealand has operated in collaboration with Quadrant Pacific
Crew of Houthi-hit Ukrainian ship evacuated as assaults on vessels intensify Verbena, the general cargo ship that caught fire after being hit by two Houthi missiles on 13 June, has been abandoned by its crew after the fire turned out to be more serious than initially thought. The ship, owned by Ukraine-based Donbasstransitservice and operated by Poland-based Dtschart Sp., is in danger of sinking, along with Tutor, the Evalend Shipping-owned Kamsarmax bulk carrier that was
Hapag-Lloyd announces updates on India Ocean Service German container line Hapag-Lloyd has decided to change the port rotation of its Indian Ocean Service (IOS). The Hamburg-based ocean carrier's service will now have the following port rotation: Jebel Ali, UAE -> Karachi, Pakistan -> Nhava Sheva, India -> Mundra, India -> Tanger, Morocco -> Rotterdam, Netherlands -> Hamburg, Germany -> Antwerp, Belgium -> London Gateway, UK -> Tanger -> Jebel Ali
Oil spill in Singapore after dredger hits bunker tanker Singapore's port authorities are racing to clear up a serious oil slick after a Van Oord dredger hit a bunker tanker near Pasir Panjang Container Terminal along the city-state's west coast on 14 June. The allision damaged the cargo tank of the bunker tanker, Marine Honour, which is owned by local physical supplier Straits Bunkering. S&P Global's vessel-tracking data shows that at the time, Marine
The Maritime Trade Ripple Effect Disrupting Global Economies The following article was written by Matan Peled, Co-founder & Head of US Business at Windward . Decades-long tensions between the West and several rogue players in the Middle East have entered a new chapter as Iran and its proxies continue to bring global disruptions to its new battleground - the high seas. While nominally a regional conflict, ongoing trade disruptions in the Red Sea at the hand
Stages of software development The software development lifecycle is a methodology that describes the various stages of it: from design to production and subsequent maintenance. There are several models of the software development lifecycle, but the most common of them all is the waterfall model, which consists of a linear sequence of individual stages, each of which is completed right before the other. Typical stages of the l
Booming charter market driven by mid-sizes The container market is on fire, according to Braemar which outlines the combination of geopolitical upheaval and market economics that is driving parts of the charter market ever upwards, with every sector in the broker's index on the up. Braemar's Monday Briefing note, for 10 June, suggested that charter periods are becoming longer, even for feeder vessels of under 2,000 TEU, that were lagging
Vestas chooses Maersk for turbine powertrain transport Danish renewable energy company Vestas has launched a new project with its compatriot shipping giant Maersk. Vestas has awarded Maersk a contract for transporting the extra heavy powertrains of its largest ever built wind turbine V236. This heart-piece of the 15MW turbine weighs 260 tons alone and will be installed in the nacelle in Vesta's factory in Lindø, Denmark. Maersk will manage the transp
CMA CGM launches new Singapore-China-Sri Lanka service CMA CGM has announced the launch of the India East Coast Express (IEX 2) service, which will connect Asia to Southeast India and Sri Lanka. The service will commence with the vessel Hansa Homburg, departing from the port of Singapore on 27 June 2024. The IEX 2 will offer a dedicated fortnightly service, providing a direct shuttle from Singapore to Chennai, China and Colombo, Sri Lanka. The port r
Port NOLA reports box volume record Last month, the Port of New Orleans (Port NOLA) reported record container growth, handling a total of 133,845 TEUs during the third quarter of fiscal year 2024, marking a 19% increase year-over-year and achieving the highest quarterly container volume since the supply chain challenges of 2021. In addition, the Port NOLA and the New Orleans Public Belt Railroad (NOPB) have also reported a more tha
Eyesea and SurfCleaner team up to minimise nearshore oil spill effects Swedish water treatment firm SurfCleaner has entered into a global partnership with maritime pollution mapping specialist Eyesea to minimise the effects of nearshore oil spills. Eyesea maps analyses and supports the recovery of pollution and maritime hazards using a portfolio of tech tools. The partnership between the two is set to focus on monitoring and ...
Lomar seals $30m bulker refinancing Lomar Shipping has struck a new loan deal with Macquarie Group, securing $30m in the process. The deal, which was the fourth transaction between the maritime subsidiary of New York-based Libra Group and the Australian lender, will see the refinancing of three bulk carriers. The Nicholas Georgiou-led Lomar earlier clinched $37.5m for the refinancing of ...
Crews evacuated from two ships hit by the Houthis The crews of two vessels struck by the Houthis in recent days were forced to evacuate ship over the weekend with the Yemeni militants showing no let up in their attacks on merchant shipping. Both ships are reportedly at risk of sinking. The Houthis have displayed greater sophistication in their attacks on merchant shipping this ...
Singapore battles oil spill from ruptured bunker barge Significant resources are being deployed to fight an oil spill that has washed up across much of Singapore's southern coastline. On Friday, a Van Oord dredger, Vox Maxima, lost power and control of its steering and crashed into a bunker barge, Marine Honour, which was at anchor. Images show the barge's hull was badly punctured ...
What IEA's 2029 peak oil forecast means for the tanker trades The International Energy Agency (IEA) has called peak oil as happening in 2029, something that has got tanker analysts discussing what this means for owners mulling rejuvenating their fleets. The IEA's latest report, Oil 2024, suggests global demand for oil will peak in 2029 and start its decline thereafter. The IEA forecasts global oil demand ...
Peter Döhle joins boxship newbuild rush Germany's Peter Döhle Schiffahrts is back ordering boxships after a break of nearly nine years. The Hamburg-based boxship and bulker owner and operator has contracted four 14,000 teu newbuilds at CSSC-affiliated Hudong-Zhonghua for delivery in 2027. The vessels, set to be the largest in the company's fleet, will be scrubber-fitted and methanol-ready, costing about $150m ...
Hanwha Ocean finds takers for early VLCC slots Oman's state-run shipping giant Asyad and Greece's Chandris have been revealed as the takers for early VLCC delivery slots at one of the world's top shipyards. Earlier this year, Hanwha Ocean, formerly Daewoo Shipbuilding & Marine Engineering (DSME), marketed a few VLCC slots with second half 2026 delivery schedules, a remarkably early timeline given that ...
Boxship newbuild contracts now stretch into 2029 Owners of dry bulk carriers and tankers looking to rejuvenate their fleets have a long wait on their hands. LNG carrier and containership orders continue to dominate Asian shipyard books with brokers reporting an extraordinary further string of boxship orders, pushing delivery dates into 2029. "There are an enormous amount of newbuilding negotiations ongoing, predominantly ...
V.Group sold to European interests One of the world's largest shipmanagers is changing hands again. European investment fund manager STAR Capital and Belgian holding company Ackermans & van Haaren (AvH) are leading a consortium buying V.Group from Advent International, a private equity firm that bought the manager in late 2016 from OMERS Private Equity. "V.Group is active in a global ...
Transfix sale highlights VC's uneasy fit with freight brokerage The uneven success of the digital brokerage model suggests that the foundations of the market were harder to disrupt than venture investors first envisioned a decade ago, and maybe even harder than some of the founders of digital brokerages had foreseen.
Savannah's intermodal share moves higher as carriers 'embrace' rail The market share of loads entering or exiting the port's Garden City Terminal on train has increased from a year ago as the Georgia Ports Authority grows into a relatively new on-dock rail yard.
Indian shippers brace for wave of carrier charges as capacity suffers Forwarder sources believe that the upcoming weeks could prove challenging for bookings to the US East Coast, given that ONE's WIN service will have two blank sailings out of India in July.
Big capacity injection into ex-Asia trades having little effect: Drewry The longer transits around southern Africa, port congestion at key hubs in Asia and unseasonally strong demand has absorbed all the capacity carriers threw into the major east-west trade lanes early this year.
Third master hit with US sanctions over 'Houthi-linked oil shipments' US claims the aframax Otaria was part of a shipping network run by a Houthi financier to raise money for weaponry
Perenco snaps up 10% stake in FLNG partner Golar LNG Buy-up comes as floating LNG unit provider talks of taking its floater to new site
Shell rolls out 'megawatt charger' for ships and trucks in 'unchartered territory' 'We are building a new infrastructure here,' Shell's Melissa Williams tells event crowd
Scorpio Tankers returns to stock buybacks, splashing $50m amid market sell-off Product tanker giant also reveals second-quarter rates have continued to climb
Denmark retains position at top of best-performing flag state list Two flag states listed as very high risk in Europe as detention blacklist expands
Lomar Shipping taps Macquarie for $30m loan to refinance three bulkers Shipowner deepens partnership with Australian-based lender
Fincantieri chairman Claudio Graziano found dead Italian shipbuilder pays tribute to distinguished former general
TRF tipped to sell tanker brace to joint venture as divestments top $400m Company has been linked to up to 10 sales since October
VLCC owners hit by 'significant' decline as spot rates sink to lowest level this year Brokers and analysts note reduced demand and increased competition for cargoes
CMA CGM leads rampage with charter of Zodiac Maritime container ships in booming market Deals done as charter rates climb higher than most of history outside of Covid
V.Group 'just getting started on growth' in turbulent world, CEO Rene Kofod-Olsen says Boss of UK ship manager believes increasing services will be outsourced by smaller owners
Hanwha Ocean to join group investments in US LNG company NextDecade Combined shareholdings set to reach 15% of growing liquefaction developer
V.Group takeover boosts firepower and cuts debt, says boss Rene Kofod-Olsen Boss of ship management and marine services group looking forward to working with new shipping-savvy owners
Russian marine insurer threatens UK with legal action after blacklisting Russian insurer pushed back against blacklisting saying that it had complied with legal and compliance obligations
Robert Bugbee shoots down special dividend demands as Scorpio Tankers 'lives the dream' Tanker outfit sets out its stall for buybacks, having recovered from the chaos of Covid
George Procopiou and Latsis firm strike Greek real estate partnership Amid booming markets, Greek shipping magnates keep diversifying their wealth
Ownership switch-up of LNG carriers rattles market as ships head for Russian Arctic business Ice-strengthened vessels contracted by NYK and Sovcomflot move to Dubai-registered company
Torm eyes fresh investors after joining big-hitters Maersk and Carlsberg on prestigious Copenhagen index Danish tanker owner's boss expects more interest from index funds after making the big league
Notorious tanker stopped off Russian port after UK blacklisting Elderly shadow fleet aframax was due to load from Ust-Luga on the day it was hit by UK sanctions
Navios Partners clinches five-year charters for product tanker newbuildings Angeliki Frangou-led behemoth charters out ships at levels considerably above its previous, similar deals
Thenamaris banks tidy profit from second LPG carrier asset play in quick succession Major Greek owner displays its deal-making skills in gas market
Western Bulk looks within for new chief executive to lead turnaround Incoming CEO started as a trainee and will take the top job in September
Crude tanker market to stay healthy beyond 2030, broker Gibson forecasts UK shipbroker also says shift to greener fuels will boost specialised product and chemical tankers
Ship management giant V.Group taken over by private equity investor Star Capital European investment fund partners with V.Group management to add to its string of shipping investments
Dredger lost power and steering before collision Bunker tanker said to have spilled half of its cargo of low-sulphur fuel oil in Friday's incident
Oil spill clean-up underway in Singapore after Van Oord dredger rams bunker tanker Public told to steer clear of popular beaches and other clean-up areas as both vessels said to be in stable condition
Longtime Western Bulk man named as new chief executive Incoming CEO started as a trainee and will take the top job in September
Costamare spending $114m to clear preferred shares with dividend rate of nearly 9% Greek owner has had redemption option on 2018 issue since January 2023
Crude tanker market to stay healthy beyond 2030, broker Gibsons forecasts UK shipbroker also says shift to greener fuels will boost specialised product and chemical tankers
Dohle breaks decade-long order drought by inking $600m container ship series German owner orders four scrubber-fitted vessels
'Supply base': Russian tanker spotted in Ukraine's Mariupol port for first time Exiled Ukrainian mayor claims small vessel has entered occupied city
Analysts reveal top stock tips as Oslo shipping index soars Gas carriers and tankers find favour as dry bulk and container shipping prompt caution
V.Group changes hands again, after takeover by Star Capital-led consortium European investment fund partners with V.Group management to add to its string of shipping investments
Dredger lost power and steering control before collision Bunker tanker said to have spilled half of its cargo of low sulphur fuel oil in Friday's incident
Crew abandons burning Ukrainian bulker said to be 'sinking' after Gulf of Aden missile strike The 11,400-dwt Verbena (built 2008) may become the second ship to go down as a result of a Houthi strike
Star Capital-led consortium unveils deal to acquire V.Group European investment fund partners with V.Group management to add to its string of shipping investments
Dredger lost power and steering control before collision, says MPA Bunker tanker said to have spilled half of its cargo of low sulphur fuel oil in Friday's incident
Maersk launches Chicago Rockford-China air cargo service Maersk has ambitious plans for its dedicated cargo airline to become a major piece of its integrated logistics service, alongside its ocean container business.
Air Incheon tapped as preferred bidder for Asiana's freighter business Korean Air will give a small South Korean carrier first crack at buying the freighter assets of Asiana Airlines, as required by EU regulators to approve a Korean-Asiana combination.
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