Birdon America gets $14.75 million contract to kick off WWC construction Birdon America Inc. has been awarded a U.S. Coast Guard long lead time materials contract worth approximately $14.75 million to enable construction to begin on the first two vessels to be built
Bourbon to deploy Opsealog fleet optimization on 104 vessels Paris-headquartered offshore services giant Bourbon is partnering with Marseille-based marine digitalization specialist Opsealog to deploy a data-driven fleet optimization solution across 104 vessels. The multi-year agreement follows a successful pilot with 25
NYK buys segments of ENEOS Ocean's shipping business NYK will acquire 80% of the shares of a new company to be established by ENEOS Ocean Corporation, a consolidated subsidiary of ENEOS Holdings, Inc. that handles the shipping business of the ENEOS Group. The new company will take over ENEOS Ocean's shipping business through an absorption-type company split that will include the company's LPG carriers, chemical tankers, product tankers, and dry bul
NWSA reports higher container volumes in 2024 The Northwest Seaport Alliance (NWSA), a partnership between the ports of Seattle and Tacoma, handled 321,432 TEUs in June, representing a significant growth of 26.3% over the same month in 2023. "Voyage consistency, increased vessel calls, and low import rail dwells continue to support strong container volumes in the gateway," noted NWSA in a statement. Full international exports continued a ten
Port of Rotterdam nears 7 million TEUs in first half In the first half of the year, Port of Rotterdam's container throughput increased by 4.2% in tonnes to 67.1 million tonnes and by 2.2% in TEUs to 6.8 million TEUs. The first quarter already saw a slight recovery in container throughput with this trend continuing in the second quarter. "This is a direct consequence of an increase in demand for consumer goods," pointed out a port official. Addition
Port of Los Angeles achieves another monthly container gain Port of Los Angeles processed 827,757 TEUs in June, translating to a 10% increase over the previous month and less than 1% compared to last June, which was the port's best month in 2023. "June was a great month at the Port of Los Angeles, capping off of a stellar first half of the year," confirmed Port of Los Angeles Executive Director Gene Seroka. "The last six months have been steady and consis
Direct services are solution to congestion and capacity dilemmas Shipping lines are extending their direct call services in an effort to absorb excess capacity and maintain schedules as port congestion in both Asia and Europe takes hold following the Houthi attacks on shipping. Consultancy MDS Transmodal has conducted an analysis of vessel deployment and new services which reveals that carriers are deploying vessels in direct services with fewer port calls in
Countrywide blockade suspends cargo movement in Bangladesh As students have enforced a countrywide blockade in Bangladesh demanding the removal of the quota system in the public sector jobs, the movement of cargo carrying trucks towards the Chittagong port and the container depots remained suspended since Wednesday (17 July) night. Students have blocked the roads across the country thus no vehicles are plying on the highways disrupting the transportation
Evergreen chairman: ILA dispute will further disrupt market Evergreen Marine Corporation (EMC) chairman Chang Yen-yi has cautioned that if US East Coast port workers cannot resolve their differences with the US Maritime Alliance, it could cause more chaos in container shipping. International Longshoremen Association (ILA) president Harold Daggett has warned that industrial action is becoming more likely as the current contract with the US Maritime Allianc
CMA CGM embarks on strategic partnership with Google CMA CGM and Google entered into a strategic partnership to accelerate the integration of artificial intelligence (AI) across the French ocean carrier's operations worldwide. By leveraging Google's AI solutions and insights from experts, CMA CGM aims to help empower its employees' decision-making. In fact, every programme and tool developed within the partnership will be designed to assist users i
BIMCO: Dry bulk newbuild contracting fell, despite strong market "During the first half of 2024, newbuild contracting in the dry bulk sector fell 34.2% y/y despite favourable market conditions. A 6.5% y/y increase in prices could be deterring contracting, yet in the second-hand market, where prices rose 15.2% y/y, the number of sales still increased 11.7% y/y. Other factors, such as limited shipyard availability and uncertainty on fuels and demand outlook coul
Tecon Santos expansion project to be completed five years earlier Santos Brasil has announced that the project which will enhance the capacity of Tecon Santos to 3 million TEUs will be completed five years ahead of the initial schedule. This operational capacity, initially slated for 2031, will be delivered to the Port of Santos by 2026. Santos Brasil is moving up the purchase of equipment and accelerating construction work in the yard to reach this milestone.
Oakland container volumes return to pre-Covid levels The Port of Oakland moved 193,062 TEUs in June with the box volume increase showing a sign of return to pre-pandemic levels. Full imports jumped 26.8%, with 84,040 TEUs handled by the California port operators in June 2024, in contrast to 66,295 TEUs in June 2023, marking the highest monthly total since August 2022. "We are seeing promising signs from ocean carriers and importers, who are beginni
Dual Fuel Fleet Additions Continue to Rise Increase of c.72% year-on-year comparing 2018 vs 2023 Owners are shifting to dual fuel systems in order to achieve net-zero emissions and comply with current environmental standards in the maritime sector and utilising the Fleet Database feature of the VesselsValue platform, we examine the annual deliveries of Dual Fuel vessels since 2018, broken down by into the following sectors: Bulkers, Tanke
Container volumes increase at Port of Antwerp-Bruges in 2024 Port of Antwerp-Bruges has handled 6.6 million TEUs in the first six months of the year, representing a 4.1% increase compared to the same period last year. At the same time, the total throughput of the Belgian port was 143.2 million tonnes in the first half of 2024, a growth of 3% compared to the same period in 2023. "This upward trend, which started in the first quarter driven by increased dema
BIC and SMDG sign MoU to improve global shipping standards The Bureau International des Containers (BIC) and the Ship Message Design Group (SMDG) have signed a Memorandum of Understanding (MoU) to formalize their collaboration on a new Global Container Geofence Library. The agreement was signed on 8 July at the Palais des Nations, the United Nations Office in Geneva, Switzerland. The MoU cements the new joint initiative, which aims to improve the accurac
Port of Barcelona opens first OPS system at Hutchison Ports BEST terminal The Port of Barcelona opened its first Onshore Power Supply system (OPS) at Hutchison Ports BEST container terminal. This equipment, which is the first in a container terminal in a Mediterranean port, makes it possible to supply ships with 100% renewable-origin electricity so that they can turn off their engines whilst in the Port of Barcelona and thus reduce their emissions. The OPS is the first
DryDel swells ultramax orderbook at Tsuneishi Greek bulker owner and operator DryDel Shipping is expanding its fleet in a comeback to Japan's Tsuneishi Shipbuilding with a new contract for another ultramax newbuild. "This addition to our fleet marks another significant investment in Japanese ultramax newbuild tonnage," the company said. The new deal for the EEDI Phase 3 compliant vessel will be ...
Precious Shipping fixes handy bulker to Oldendorff Thai dry bulk player Precious Shipping has sealed a charter deal with Germany's Oldendorff Carriers for its recently acquired modern handysize. The Khalid Hashim-led listed owner said in a filing that the 2018-built Hansa Naree had been fixed between 11 and 13 months. The charter has already commenced at a gross variable rate equivalent to ...
Operations underway to recover lost containers as CMA CGM boxship sets sail for Europe Operations have begun to locate 44 containers lost at sea from CMA CGM's boxship hit by severe weather near South Africa after the vessel continued on its way towards Europe. After losing the containers in what was described as a 'harrowing bad weather experience on the Indian Ocean along South Africa' by the South African ...
Damaged Vineyard Wind turbine blade deteriorating with more debris in the water Vineyard Wind, a joint venture between Iberdrola's US arm Avangrid and Copenhagen Infrastructure Partners, has found further issues with the broken blades from one of its turbines. The company said on Wednesday that "there was an observed compromise to the integrity of the GE Vernova blade" and that a part of the blade remains attached ...
Saipem scores subsea intervention services deal for Libya - Italy pipeline Italian offshore engineering and construction giant Saipem has been awarded a contract for supervision and subsea intervention services of the GreenStream pipeline between the Mellitah terminal in Libya and Gela in Italy. The new contract, awarded by midstream player GreenStream BV, merges the activities that Saipem has been undertaking for GreenStream since 2008 regarding asset ...
Rem Offshore returns to Vard for third CSOV newbuild Norwegian offshore vessel player Rem Offshore has returned to fellow shipbuilder Vard for another offshore wind commissioning service operation vessel newbuild. The VARD 4 19 design vessel, developed by Vard Design in Ålesund, will be the third CSOV unit delivered by the Fincantieri-controlled yard after the Rem Power and the Rem Wind in 2023 and ...
South Korea sanctions Hong Kong firm for illegal transfer of North Korean coal South Korea has sanctioned a Hong Kong shipping firm, HK Yilin Shipping, and a North Korean vessel over allegations of the illegal transfer of North Korean coal. Yilin Shipping's 6,700 dwt general cargo vessel De Yi took on coal from a North Korean vessel, Tok Song, in March off North Korea's coast in a ship-to-ship ...
CMA CGM taps Google to develop AI solutions French liner CMA CGM has signed a global partnership agreement with Google to accelerate artificial intelligence (AI) adoption across its operations. "This collaboration aligns with our digital roadmap and investments. Together with Google, we will lead the digital revolution in shipping, logistics and media, optimise our processes, and enhance our competitive edge," commented Rudolph Saade, ...
IMO launches Marine Plastic Litter Global Industry Alliance The International Maritime Organization (IMO) is calling for businesses operating in the shipping and fisheries sectors to express their interest in joining the Marine Plastic Litter Global Industry Alliance (GIA). The new alliance will bring together maritime and fisheries industry leaders, with the aim of developing solutions to prevent and reduce ocean plastics, while addressing ...
TGS given extension of West African OBN seismic deal Norwegian offshore seismic acquisition specialist and data provider TGS has won an extension for its deepwater ocean bottom node (OBN) data acquisition campaign in West Africa. This additional program was for what the company described as a 'major customer' and will extend the ongoing acquisition cooperation well into the fourth quarter of 2024. No financial ...
Lidl's shipping line swells fleet Tailwind Shipping Lines, founded two years ago by German supermarket chain Lidl to battle covid-related shipping chaos, has grown its fleet to nine ships, and now operates three services designed to bring goods from Asia to Europe. In a market update to celebrate its second anniversary, the Hamburg-based shipping line revealed it now has nine ...
Australia awards five more offshore wind licenses Australia's Minister for Climate Change and Energy Chris Bowen has announced via social media that twelve offshore wind projects have been given feasibility licenses offshore Victoria in the Gippsland Offshore Wind Zone. The first batch of six licences was awarded in May this year, with a combined capacity of approximately 12 GW. Minister Bowen announced ...
Nine crew saved from capsized tanker off Oman Omani authorities say nine members of a 16-strong Indian and Sri Lankan crew have been rescued, after going missing when their tanker capsized off the coast of Oman on Monday. One other has been found dead. The Indian Navy announced that eight Indians and one Sri Lankan from the Prestige Falcon had been found by ...
VLCC rates under pressure as Saudi Arabia slashes exports New data from Vortexa shows VLCC utilisation for OPEC+ - excluding Iran and Venezuela - fell sharply during June and reached a record low earlier this month, as exports from the group, especially Saudi Arabia, fell sharply. "The lack of sizeable alternative routes for VLCC flows, i.e. outside of OPEC+ (mostly Middle East) to Asia, ...
Brazilian offshore wind energy potential exceeds 1.2TW, study says Brazil's offshore wind energy potential exceeds 1,200GW, with 480GW from fixed foundations, and 748GW from floating foundations, a new study claims. The "Scenarios for Offshore Wind Development in Brazil" study, conducted by DNV for the World Bank Group, is one of a series of offshore wind roadmap studies funded and led by the Energy Sector ...
Fugro scores work on Community Offshore Wind lease off New York Community Offshore Wind, a joint venture between RWE and National Grid Ventures, has selected Dutch surveyor Fugro to perform a geotechnical investigation of their lease area in the New York Bight. With 3GW of offshore wind energy potential, the developed lease area could power more than 1m homes in the region. The geotechnical work follows ...
FMC designates Anji Shipping a controlled carrier The Federal Maritime Commission (FMC) has classified car carrier operator Anji Shipping as a controlled carrier of the People's Republic of China and has added it to the commission's controlled carrier list. Controlled carriers are ocean common carriers operating in the US-foreign trades that are, or whose operating assets are, directly or indirectly owned or controlled ...
Is the scorpion dance between technology and maritime about to reach its climax? Ben Pinnington, founder of PR firm Polaris Media, on venture capital and maritime tech. With investment of $3bn in maritime tech firms being reported at the recent Maritime Technology Demo Day at Posidonia, some think this is serious progress. But a panel discussion at the event organized by TMV, The Captain's Table, lomarlabs and a ...
CMA CGM turns to Google for AI help across its global operations The collaboration comes barely a month after Google researchers said they could help shipping lines improve their network designs and profitability.
Bangladesh becomes 'two-way' market for liners boosting intra-Asia capacity Maersk seems to be leading the race to scale the supply chain for Bangladesh's booming ready-made garment verticals, with the carrier opening a third weekly Bangladesh-China loop.
Early peak season boosts H1 volumes at Rotterdam, Antwerp-Bruges Shippers advancing orders for Asian imports to avoid supply chain disruption and mitigate longer voyages around southern Africa lifted container throughput at Europe's two largest ports.
EU's anti-deforestation law a 'barrier to trade': lobby groups There is growing pushback against the pending regulation that some sectors believe poses an impossible challenge in tracing and verifying the origins of certain products that could lead to their exclusion from the EU market.
Supreme Court's 'Chevron' decision expands window to challenge FMC rulemaking A landmark ruling from the nation's high court weakens the powers of federal maritime regulators ahead of imminent rulemaking that ocean carriers may challenge in the courts, writes Journal of Commerce Executive Editor Mark Szakonyi.
IANA says long-time CEO Casey will retire at end of 2024 Joni Casey played a critical role in the expansion of the Uniform Intermodal Interchange and Facilities Agreement, a set of governing rules over the transfer of containers from one mode to another.
Washington targets 'illicit shipping network' in bid to disrupt Houthi support Ships, facilitators, insurer, managers and an owner blacklisted
Von der Leyen opens second term with pledge for European 'Oceans Pact' Environmental groups praise ocean pact but worry about watering down of Green Deal
New MIT study raises questions over ammonia fuel's green credentials Study argues that the effects of ammonia slippage could negate all the positive aspects of the new marine fuel
DryDel pushes newbuild tally to nine bulkers with latest order in Japan New vessel will be slightly larger than a conventional ultramax
BW LPG's profit for gas trading unit falls in second quarter VLGC owner will release financial report on 22 August
Potentially life-saving AI breakthrough to detect rogue waves Study examines ocean patterns off the US coastline to provide early warning of trouble
'Coffee-spitting' Maersk U-turn on fuel exposes harsh reality of shipping energy transition
Deutsche 'about-face' sees major bank dive back into shipping equity research This week's Streetwise takes a look at the behind-the-scenes deliberations over coverage of the industry
Tufton Oceanic boosts dividend as 'supply-driven up cycle' takes shape Profit rises in strong markets driving bulker and chemical tankers
Peraticos family returns to dry bulk market with new Athens-based company New outfit Delia Bulkers is listed as operating under the same address as the traditional tanker owner
Charterers key to shifting the dial on decarbonisation, says MPC chief Constantin Baack Sharing burden and benefit with charterers is a 'win-win'
Retailers move cargoes forward as they brace for potential US port strikes Trade groups want Biden administration to encourage both sides to come to the table to avert a shutdown
Shipowner sanctioned over North Korean coal bound for Russia Foreign ministry claims an HK Yilin Shipping vessel breached UN Security Council resolutions
Rem Offshore heads back to Vard for wind farm work vessel Norwegian west coast owner inks deal with compatriot designer for diesel-electric ship
How shipping clawed back a place in equity research at Deutsche Bank This week's Streetwise takes a look at the behind-the-scenes deliberations over coverage of the industry
Gram Car Carriers and K-Line team up on biofuel drive Norwegain owner and Japanese charterer starting to use biofuels on three ships
'Severely fatigued' pilot in charge of tanker as it smashed into River Thames jetty UK accident investigators found that 60-year-old pilot was likely to have been severely fatigued as vessel left dock
Zissimatos-linked Monte Nero strikes deal for seven tanker and bulker newbuildings The Greek shipping outfit has ordered MR tankers and ultramax bulk carriers
Google and CMA CGM to 'revolutionise shipping' through artificial intelligence The partnership will adopt the technology throughout the French giant's global operations
Nine seafarers found alive from capsized tanker as Indian Navy scrambles to save more crew members One of the Indian and Sri Lankan crew was confirmed to have died, however
VLCCs await turn in super-cycle spotlight, Tankers International says Rates for largest crude carriers remain below levels for aframax and suezmax tankers in 2024
Richard Fulford-Smith's Affinity a major investor in new VLCC venture led by Tor Olav Troim London shipbroking firm controls 24% of Andes Shipping, which has ordered four dual-fuelled ships
'Pure terror': Red Sea seafarers suffer stress symptoms under real fear of death Moral injury and potential PTSD as seafarers face unstoppable and repeat drone and missile attacks
Sentiment sees suezmax tanker rates defy the odds, says Fearnleys Fearnleys says 'there hasn't been a summer market' when it comes to the second-largest tankers
John Su makes fresh moves to grow his boxship and gas carrier fleets Erasmus Shipinvest emerges with three new acquisitions, as it widens its foray into feeders and small LPG vessels
Unifeeder group CEO Jesper Kristensen leaves company after 34 years Trusted deputes Martin Gaard Christiansen and Ganesh Raj are jointly taking liner company's helm
New MIT study raises questions over ammonia fuel's green credentials Study argues that the effects of ammonia slippage could negate all the positive aspects of the new marine fuel
Australian ports the latest to feel the impact of Red Sea crisis, says Maersk Danish giant says capacity between Asia and Australia reduced as vessels are diverted to higher-demand trade routes
DHL, SF Airlines most impacted by 757 freighter crack risk More than 100 Boeing 757s that underwent passenger-to-freighter conversions by Precision Aircraft Solutions need to be inspected and repaired to address the risk of cracking in an external component.
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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