GAO report slams Navy cruiser modernization efforts The U.S. Government Accountability Office (GAO) has released a report that is sharply critical of a Navy cruiser modernization program that began when Congress rejected Navy proposals made in 2012 and 2013
Anemoi completes world's largest yet rotor sail retrofit Anemoi Marine Technologies has completed the installation of five of its rotor sails on the 400,000 dwt very large ore carrier (VLOC) Sohar Max. Built in 2012 at China's Rongsheng shipyard, the
Tanker market slows as market uncertainty and high values create headwinds The bull market for tanker vessels that has been witnessed for most of 2024 is showing signs of slowing down according to a new report by maritime valuation and data provider VesselsValue, a Veson Nautical solution. The report: ' High tide ebbs for tanker market amid uncertainty and high values', states that despite 2024 tanker values hovering around the highest levels since 2009, the fourth quar
Konecranes boosts VinFast's electric vehicle production expansion in Vietnam Konecranes has delivered five 25-ton CXT Double Girder Cranes to VinFast Auto in Vietnam, increasing the automaker's total number of Konecranes machines to 25. The latest order, which includes TRUCONNECT Remote Monitoring, was placed in June 2024 and is now in the final stages of testing and commissioning. Trinh Van Ngan, Deputy CEO of Manufacturing at VinFast Auto, stated: "At VinFast, we are co
How You Can Reduce Cargo Damage in Container Shipping Have you ever received damaged goods or worried about the safety of your shipment? Cargo damage during container shipping can lead to financial losses, unhappy customers, and unnecessary delays. Understanding the causes of damage and how to prevent them is key to ensuring your goods arrive safely and in good condition. What Causes Cargo Damage in Container Shipping? Cargo damage in container ship
Kalmar to supply five terminal tractors to German terminal operator Kalmar has agreed to deliver five heavy terminal tractors to Seehafen Wismar, a German marine terminal operator. The deal, which also includes a four-year Kalmar Complete Care service agreement, was recorded in Kalmar's Q4 2024 order intake. The delivery of the equipment is planned for the second quarter of the next year. Michael Kremp, Managing Director of Seehafen Wismar, commented: "Kalmar has
Duvenbeck delivers diesel-free logistics services for ZF Saarbrücken The Duvenbeck Group has successfully transitioned its entire fleet serving ZF Saarbrücken in Germany to alternative, emission-free drive systems. This milestone ensures that none of the vehicles used for the automotive supplier, whether on local or long-distance routes, rely on conventional diesel fuel. This transition marks the culmination of a phased program that began in 2020 with the adoption
German terminals adopt new coating system for STS crane repairs German container terminals are adopting Steelpaint's innovative corrosion protection system, Stelcatec, to restore and maintain the paintwork on ZPMC ship-to-shore cranes, following the system's certification by the Chinese manufacturer in 2023. Stelcatec, the world's first isocyanate-free, low-VOC polyurethane coating system, is being utilized to repair damaged coatings on ZPMC cranes at contain
Port of Felixstowe marks new draft record The 16,600 TEU boxship MSC Elenoire has become the deepest draught container vessel to call in the United Kingdom. Operated by the world's largest container shipping company MSC, the vessel arrived at the Port of Felixstowe from Malaysia's port of Tanjung Pelapas with a draught of 17.1 metres. The depth of the approach channel to Felixstowe was increased by Harwich Haven Authority from 14.5 metre
Yang Ming announces new China-Thailand service Taiwanese box line Yang Ming has decided to enhance its intra-Asia network with the new China-Thailand Express (CTE) service. In early January 2025, Yang Ming will launch the CTE service, which is expected to offer flexible, reliable, and high-quality container shipping solutions. Yang Ming currently operates four services between China and Thailand. The new CTE service, offering a 21-day round-t
CMA CGM to use electric barge for intra-Vietnam shipments French ocean carrier CMA CGM is set to develop and deploy a groundbreaking zero-emission inland transport system in Vietnam. This initiative includes a 100% electric barge powered by renewable energy from a new solar farm located at Gemalink Terminal in Cai Mep, in which CMA CGM owns a 25% stake. The e-barge will operate on a 180km round trip between Binh Duong Province and the deep-sea terminal
Transpacific rate rebound gives box lines upper hand in contract negotiations Transpacific rates have shot up ahead of an increasingly likely industrial action by US East Coast port workers. This will give mainline operators bargaining power when discussing 2025 contract rates, according to Linerlytica's report. This content is locked Select a CN Premium Subscription Package To Unlock The Content! If you liked this post, please consider donating The post appeared first on
HMM, ONE launch new service connecting India with North Europe South Korean container line HMM, in cooperation with Singapore-based ocean carrier Ocean Network Express (ONE), announced the launch of a new INX (India North Europe Express) service. The INX service is expected to offer a direct connection from Western India to Northern Europe and is designed as a weekly service, turning around in 11 weeks. The service will be operated by 6,000 TEU container ves
Port of Long Beach publishes study on battery energy storage system The Port of Long Beach (POLB) has released a draft study evaluating a proposed 70-megawatt battery energy storage system (BESS) by Pier S Energy Storage LLC. The facility would occupy 11,735 m² of land on the Long Beach Power Plant property at 2665 Pier S Lane and aims to enhance the reliability of California's electric grid as the state transitions to renewable energy, in line with the Californi
US government unveils plan for maritime industry decarbonization On 11 December, US President Biden unveiled the US Maritime Decarbonization Action Plan, building upon the framework outlined in the administration's US National Blueprint for Transportation Decarbonization. The plan outlines both immediate and long-term strategies to decarbonize the maritime sector, highlighting key actions for the federal government and private sector to address barriers to imp
Analysing Recent Trends and Future Projections in Global Container Market The global market for containerised cargo has seen notable shifts lately, influenced by changes in international trade dynamics, evolving strategies in supply chains, and regulatory updates. These developments are shaped by a mix of economic, technological, and geopolitical factors that continue to redefine the containerised trade environment.
APM Terminals completes two-million TEU expansion project in Medport Tangier APM Terminals has completed the last part of its two million TEU expansion in MedPort Tangier, which went into operation this month. With this expansion, the Moroccan terminal has a total capacity of 5.2 million TEUs annually and two two-kilometer berth length. This has been part of a three-year project that was delivered on schedule, noted APM Terminals in a statement. "Almost exactly a year ago
OOCL starts two new intra-Asia services Orient Overseas Container Line (OOCL) has announced two new services connecting major Chinese ports with Southeast Asia and the Indian subcontinent. The Far East - Chennai Service 3 (FCS3), launched on 6 December, aims to establish direct connections between multiple ports in China, Vietnam, Thailand, Malaysia, and East India. The port rotation of the service will be Nansha - Shekou - Ho Chi Minh
Container lines unveil Transatlantic services Singapore-headquartered Ocean Network Express (ONE) has announced three North Europe Transatlantic services, effective from February 2025, which will be operated together with CMA CGM, COSCO, Orient Overseas Container Line (OOCL) and Evergreen, as part of a vessel-sharing cooperation. Jeremy Nixon, CEO of ONE, said, "AS ONE we look forward to our new collaboration with CMA CGM, COSCO, OOCL and Ev
Hiab and Ring Power Lift Trucks partner on MOFFETT dealership in Florida Hiab, a subsidiary of Cargotec, has entered into a significant dealer agreement with Ring Power Lift Trucks in Florida, to distribute MOFFETT truck-mounted forklifts and provide related services. Ring Power Lift Trucks, based in Jacksonville, Florida, operates as the material handling and forklift division of Ring Power Corporation. In addition, the company represents a range of top brands, inclu
China Merchants signs for newcastlemax newbuild brace China Merchants Energy Shipping (CMES) has struck a lease deal for a pair of scrubber-fitted newcastlemax bulker newbuilds delivering in 2026. The Shanghai-listed diversified shipping arm of China Merchants Group said in a filing it would be paying around $100m to take 210,000 dwt vessels on charter from China Merchants Financial Leasing for five years. ...
Giant 400,000 dwt VLOC sets new wind installation record Anemoi Marine Technologies has completed the installation of five rotor sails onboard the 400,000 dwt VLOC Sohar Max making it the largest vessel to receive wind propulsion technology to date. Sohar Max is a first-generation Valemax, built in 2012 in China's Rongsheng shipyard, and owned by Omani shipowner Asyad. The rotor sails were retrofitted onto ...
Diana Shipping fixes kamsarmax to China Resource Chartering New York-listed Greek bulker owner Diana Shipping has entered into a time charter contract with China Resource Chartering for one of its kamsarmax vessels. The company hired the 2013-built, 75,403 dwt bulker Maera. The gross charter rate is $8,400 per day, minus a 5% commission paid to third parties, for a period until a minimum of ...
Halkidon Shipping sells LR2 Greek tanker player Halkidon Shipping has sealed a deal privately, doubling its money offloading the 14-year-old 112,700 dwt, New Times-built LR2 tanker Elli. This ship was purchased in a bank-driven sale in 2018, adding one of the last ships from Gregory Callimanopoulos's Toisa for $22m. The vessel has now been sold and renamed Nilanga and is listed ...
Kontor 17 seals newbuild brace in China Kontor 17 MPM of Germany is expanding its fleet with a pair of general cargo newbuilds in China. Newbuilding sources report the Hamburg-based outfit has contracted 5,200 dwt units at Jiangsu Dajin Heavy Industry. No price has been divulged for the order. The yard, which has several German owners on its newbuilding project list, is ...
Dark fleet still growing by 10 tankers a month Broker BRS has provided an update of the size of what it terms as the grey tanker fleet, ships suspected of carrying oil linked to Iran, Venezuela, Syria, North Korea or Russia. Despite slowing, the grey fleet is still growing by around 10 tankers a month, according to BRS, and now stands at a total ...
Insurance checks instituted for Russian shadow fleet passing through the Baltic A number of European nations have followed the lead taken by the UK in demanding insurance details from Russian-linked ships passing through their waters, something that is expected to put pressure on Russia's exports through the Baltic. The UK started this crackdown in October, challenging so-called shadow fleet vessels with what the government described as ...
HMM returns to transatlantic trades After a seven-year hiatus, HMM, South Korea's top containerline, will return to the transatlantic trades next February. The new service - Transatlantic 1(TA1) - connects Northern Europe and the US west coast, via the Panama Canal with stops including at Miami. It will be operated in conjunction with Ocean Network Express (ONE), its Japanese partner ...
Taylor Maritime Investments set for rebrand Pursuant to a shareholder vote next month, London-listed dry bulk concern Taylor Maritime Investments will change its name to Taylor Maritime Limited. "Following completion of the acquisition of Grindrod Shipping Holdings Ltd on 16 August 2024, the Board has concluded that the TMI Group's current and future activities are more reflective of a commercial company ...
EU extends Somali naval operation through to 2027 With the return this year of Somali piracy after a near six-year hiatus, the European Union has decided to extend Operation Atalanta, its naval operation off the Horn of Africa for another two years through to the end of February 2027. Ships sailing off the Somali coast have been urged by Operation Atalanta to maintain ...
H-Line Shipping to install AI tech on 30 ships Avikus, HD Hyundai's autonomous and remote navigation subsidiary, will deploy its technology on 30 ships belonging to compatriot Korean firm, H-Line Shipping. HiNAS Control is an AI-powered autonomous navigation system developed by Avikus, integrating data from various navigation devices and sensors to guide and control ships along optimal routes and speeds. Previously, Avikus demonstrated up ...
Baltic Exchange launches free FuelEU Maritime calculator From 1 January 2025, voyages that include port calls in the European Union will have to account for the new FuelEU Maritime regulation. This new regulation is designed to accelerate the uptake of renewable and low-carbon fuels in maritime transport to drastically reduce onboard greenhouse gas (GHG) emissions in Europe. FuelEU Maritime is the latest ...
Could Trump support for dockworkers spur longer US port strike? It's still possible that USMX, representing ocean carriers, could buckle on port automation prior to the next strike deadline. But...
UK expands sanctions on Russia's 'shadow fleet' and targets trader The UK has announced fresh sanctions targeting 20 tankers hauling Russian oil and a prominent oil trader as the UK...
Shipping is only going to get more complex, says V.Group chief executive V.Group chief executive René Kofod-Olsen explains why the rapid influx of regulatory requirements for shipping, growing pressure to digitalise operations...
2025 is IMO's last chance on climate, says academic Next year's IMO meetings are the last chance for the regulator to protect the planet and its credibility, says green...
The week in charts: Commodity shipping rates sink to new 2024 lows | Vehicle carrier operators continue to ply Suez Canal route to Europe | EU blacklists a further 52 Tankers, bulkers and LNG carriers simultaneously and counter-seasonally slump, Chinese and South Korean car carriers continue to use Suez Canal...
Chinese and South Korean vehicle carrier operators continue to ply Suez Canal route to Europe China Merchants Group, Cosco and SAIC are utilising the Suez Canal irregularly to deliver cars to Europe. South Korean carrier...
EU extends Operation Atalanta amid Somali piracy resurgence The European Naval Force's (Eunavfor) operation was launched in late 2008 to combat growing levels of piracy in the waters...
Baltic countries to check dark fleet insurance The Nordic-Baltic 8 countries plus Poland, the Netherlands, Germany and the UK have agreed to take further steps to "disrupt...
Skuld hints at price hikes after substantial interim underwriting loss Pool costs double at International Group affiliate
The Daily View: EU sanctions reach China Your latest edition of Lloyd's List's Daily View - the essential briefing on the stories shaping shipping
Samsung Heavy sells R&D centre for $278m to strengthen financial position The shipbuilder has returned to profit after eight consecutive years of operating losses, but the financial legacy of its darkest...
HMM returns to transatlantic trade with new Europe-US service Aside from the transatlantic service, the South Korean carrier has also teamed up with ONE to strengthen its India-West network
US strikes Houthi target in Yemeni capital The US has struck a Houthi 'command and control facility' in Sana'a, Centcom said. The facility 'was a hub for...
China Merchants continues expanding fleet with $100m newcastlemax lease deal A five-year lease at $100m appears slightly overpriced compared to the newbuilding cost, but it enables earlier delivery
Daily Briefing Fears grow over future abandonment - not scrapping - of dark fleet tankers | Iran oil exports to China snarled...
Carriers seek Panama Canal surcharges due to reservation system changes Both CMA CGM and MSC will add a surcharge to trans-Pacific cargo transiting the canal beginning Jan. 1, pointing to higher operating costs thanks to a new system of reserving transits through the waterway.
DAT acquires Trucker Tools in move to reduce load board driver churn The acquisition of Trucker Tools will give DAT access to carrier positioning data to arm its truckload broker customers.
Domino-effects await if ILA strikes again: analyst One additional risk to a threatened strike at US East and Gulf Coast ports, which the container shipping industry did not have in October, is that the potential disruption would come just as new alliance networks are to be phased in, writes analyst Lars Jensen.
Carriers implement Panama Canal surcharges amid reservation system changes Both CMA CGM and MSC will add a surcharge to trans-Pacific cargo transiting the canal beginning Jan. 1, pointing to higher operating costs thanks to a new system of reserving transits through the waterway.
Front-loading of ocean cargo diminishing, C.H. Robinson CEO says While US customers are importing more than usual, C.H. Robinson Worldwide's CEO Dave Bozeman doesn't see a 'major material' pull-forward of goods in the last weeks before a potential US longshore strike.
Ocean carriers outline new trans-Atlantic services from Feb. 1 Holes in the Atlantic port network are being plugged as ONE, the Ocean Alliance and HMM prepare for February's launch of the new container shipping groupings.
Russian authorities declare state of emergency as oil washes ashore after twin tanker incidents A third vessel in fleet of Volgotanker issues distress call
UK start-up launches prototype autonomous vessel backed by government funding Liquid hydrogen-fuelled ship was built on the Isle of Wight and launched in Plymouth
Freight Investor Services launches Geneva desk to fuel global growth Derivatives broker opens third new office this year to follow Greek and US moves
Keir Starmer slaps sanctions on 20 more tankers as UK list tops 100 ships Prime minister says number of vessels designated in UK is now the highest in the world
Eidesvik eyes order of ammonia-fuelled PSV backed by Norwegian state cash Potential newbuilding deal contingent on securing a long-term contract for ground-breaking ship
It was a marathon not a sprint: Patience paid off in Saltchuk-OSG courtship An early stake, a first advance, an 'insult' and a happy resolution to the deal
Njord Partners' Geoquip steps up operations with conversion of former Atlantica PSV Swiss owner has added seventh vessel to its fleet for geotechnical work
Shadow fleet still growing by 10 tankers per month as sanctions noose fails to tighten, BRS says Shipbroker says Russia continues to export oil relatively unhindered by increased sanctions
Mercuria linked to charter of JP Morgan LNG carrier newbuilding duo Vessels rumoured snapped up on index-linked rate as market wallows in exceptionally weak state
Cosco said to be furthering LPG shipping ambitions with VLGC order State-owned China giant is expanding the smallest sector in its huge fleet
Moundreas family finds Far East buyers hungry for ageing tonnage State-owned Indonesian firm and undisclosed Vietnamese interests pick up NGM supramax and chemical tanker
Swedish Club publishes children's book as a Christmas gift to absent seafarers Insurer teams up with Mental Health Support Solutions to help youngsters missing loved ones during the festive period
Shadow fleet tankers face insurance checks under plans mooted by EU nations Scheme will build on efforts by the UK and Estonia to step up inspections of ageing vessels
Rasmussen Group tightens grip on Shearwater fleet with loan and share deals Norwegian company converts debt into equity and buys Schlumberger stake
Deal of the year: How Navig8 founders sold their $1bn shipping 'ecosystem'
John Fredriksen-backed Edda Wind CEO Kenneth Walland to step down CFO Hermann H Overlie will act as interim CEO
Utkilen converts chemical tanker to run on LNG Norwegian owner also carrying out efficiency retrofits on another vessel
Vitol shells out $47m to take over Oslo-listed technology operation Denmark's WPU is ready to roll out its equipment worldwide
Oldendorff extends bulker sales drive as it offloads newcastlemax to Chinese owner Scrubber-fitted vessel is said to have found a new home with low-profile owner Bohai Shipping
Pareto Securities sees 'fantastic' global demand for shipping bonds Nordic high-yield bond market attracts international issuers and investors
After a year of attacks, Houthis plan shipping security seminar Scourge of commercial shipping welcomes insights for discussions on navigation in the Red Sea
Star Bulk rejigs dividend policy and beefs up share buyback plan Changes are making the company 'more flexible' amid low share prices, CEO Petros Pappas says
China Merchants lines up $100m long-term lease deal for two bulk carrier newbuildings Duo will be delivered in 2026 to begin five-year leases
Hing Chao: How I'm transforming a legacy business into a start-up Diversification is paying off for a shipowner that views itself as different
Wah Kwong grows its managed fleet to 90 vessels with more Chinese ships Ten more vessels from BG Shipping from leasing giant Bank of Communications see diversification continue
H-Line to use AI-based navigation systems on 30 vessels South Korean shipowner to install systems from HD Hyundai venture
November container flows a torrent at Port of LA Continuing consumer demand and frontloading by importers in November helped the Port of Los Angeles to double-digit gains in container volumes.
Near Red Sea, US forces strike Houthi base in Yemen American military forces protecting Red Sea shipping launched an airstrike against Houthi rebel bases inside Yemen.
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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