Metal Shark delivers first of two Anne Arundel FD fireboats Jeanerette, La.-based boat builder Metal Shark has delivered the first of the two new welded-aluminum 50-foot fireboats it is building for Anne Arundel County Fire Department in Annapolis, Md. (see earlier story).
Foil Ferry project wins $5.2 million for development We've been following the Washington State Foil Ferry project from some of its earliest days. Now Kitsap Transit, which would operate the all-electric, zero-emission fast ferry, is set to receive $1.2 million
FMD to acquire Rolls-Royce naval propulsors & handling business Beloit, Wis.-headquartered Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management has entered into an agreement with Rolls-Royce to acquire its naval propulsors and handling business. The acquisition will include
Emerging ports in Southeast Asia and Africa gain momentum Container News recently undertook a comprehensive comparative analysis focusing on the emergence of new shipping services and alliances, particularly evaluating ports in Southeast Asia and Africa. This assessment was driven by a selection of countries that are attracting significant investments and possess the potential to evolve into pivotal trade hubs amid intensifying global maritime competiti
PortXchange introduces upgraded tool for emissions tracking and analysis PortXchange has introduced the EmissionInsider Carbon Insight Suite, an upgraded version of its emissions tracking and analysis platform. This advanced tool marks a major step forward in setting global standards for emissions reporting within the maritime industry. The EmissionInsider Carbon Insight Suite offers a customizable dashboard, allowing ports to integrate tailored modules specific to th
DP World Trade Finance and Nedbank join forces to provide working capital solutions in sub-Saharan Africa Businesses across sub-Saharan Africa struggling with working capital challenges now have access to new opportunities through a partnership between DP World Trade Finance and Nedbank Corporate and Investment Bank (Nedbank CIB). This collaboration focuses on supply chain finance for DP World's suppliers in sub-Saharan Africa (SSA) and includes a risk-sharing agreement to boost trade finance availab
How Sustainable Materials Are Shaping Shipping Industry Decarbonization Sustainable materials are quietly transforming the shipping industry. From innovative shipbuilding designs to container manufacturing, eco-friendly solutions are making waves. Picture cargo ships using bio-composites and delivery trucks powered by renewable energy - these aren't future visions but current realities. The shift towards greener practices tackles carbon footprints across the entire s
MOL participates in successful ammonia STS trial led by GCMD Mitsui O.S.K. Lines (MOL) participated in the successful ammonia STS trial led by the Global Centre for Maritime Decarbonisation (GCMD). In the absence of ammonia bunkering infrastructure, ship-to-ship (STS) transfers provide a close approximation of the bunkering process by replicating its essential steps. "Translating the recommendations from our 2023 safety study into action through this pair
Hapag-Lloyd applies equipment imbalance surcharge from Türkiye to North Europe German ocean carrier Hapag-Lloyd has announced an equipment imbalance surcharge (EIS) from Türkiye to North Europe. The EIS of €300 (US$334) per container will apply to all dry equipment and will be effective from 7 October until further notice. North Europe includes Germany, Netherlands, United Kingdom, Belgium, France, Poland, Denmark, Sweden, Ireland, Norway, Finland, Lithuania, Czech Republic
Maersk and Hapag-Lloyd charter more ships ahead of Gemini launch Maersk and Hapag-Lloyd have been chartering more ships to expand their fleets ahead of the launch of their tie-up, Gemini Cooperation, in February 2025. Maersk took Conbulk Management's 2004-built 2,478 TEU Portsmouth for two years for US$24,250/day. The Danish carrier also fixed Goldenport Group's 2007-built 1,819 TEU San Alberto, MPC Group's 2007-built 1,713 TEU AS Serena and Peter Doehle's 200
Harren Group, Kestrel Italia and Intermare launch JV KestrelMare Shipping and logistics companies Harren Group, Kestrel Italia, and Intermare have collaborated to establish KestrelMare S.r.l., a new joint venture aiming to enhance their joint operations in Italy and expande their activities in project cargo and heavy lift services. "KestrelMare is taking over all Intermare and Kestrel Italia business units, merging them under one brand. The new team combines e
New PIL service to support Sino-Bangladeshi trade Container News attempted to review PIL's new China Chittagong Express (CCE) service , in order to assess its strategic importance to Asian trade. Between July 2023 and July 2024, the trade dynamics between China and Bangladesh exhibited noteworthy fluctuations. China's exports to Bangladesh marked a cargo worth decline of 7.44% from the previous year. This decrease can be attributed to evolving m
Container traffic increases at NWSA terminals North West Seaport Alliance (NWSA) reported increased vessel activity and intermodal volume, combined with diverted cargo, resulting in robust box traffic at the US gateway. Full international imports in August reached their highest level for the month since 2010, with a 49.4% rise compared to August 2023. Full international exports also grew by 18.5%, surpassing the five-year average for August.
India enhances presence in Indian Ocean with port investments On behalf of the Indian PM's announcement of the inauguration of the Tuticorin International Container Terminal , Container News undertook a comprehensive analysis in order to assess how Tuticorin's expanded capacity could impact its competitive position against regional transshipment hubs. The analysis aimed to assess the competitiveness status of Tuticorin port with some key port hubs of the re
Grimaldi Group acquires majority stake in Greek port The Grimaldi Group has completed the acquisition of 67% of Heraklion Port Authority S.A. (HPA S.A.) through the Holding of Heraklion Port S.A., a consortium formed by Grimaldi Euromed S.p.A. and Minoan Lines S.A., for a total of €80 million (US$90 million). This agreement was signed on 19 September with the Hellenic Republic Asset Development Fund (HRADF), which is part of Growthfund - The Nation
Regional Container Lines unveils two new 7,000 TEU vessels Just a week after the successful naming ceremony of Ussama Bhum and Varanya Bhum in Japan on 27 August, Regional Container Lines (RCL) introduced its two newest vessels on 3 September, the Hemma Bhum and Itthi Bhum, each with a capacity of 7,000 TEUs. The grand naming ceremony took place at the Shanghai Waigaoqiao Shipbuilding Yard in China, where the ships were constructed. This event marks a si
AD Ports Group releases 2023 sustainability report AD Ports Group has unveiled its 2023 Sustainability Report, showcasing substantial progress in its decarbonisation efforts. As a listed company on the Abu Dhabi Securities Exchange, the report underscores AD Ports Group's commitment to transparency and sharing its performance with stakeholders. The Group's initiatives align with the UN Sustainable Development Goals (SDGs) and support the sustaina
Port of Los Angeles surpasses 960,000 TEUs in August The Port of Los Angeles handled 960,597 TEUs in August, marking a 16% increase compared to the same month last year. This made it the busiest non-pandemic month in the port's history. By the end of August 2024, the Californian port is tracking 17% ahead of its 2023 performance, having already moved nearly a million more containers than the previous year. "The American consumer continues to spend
Tolani sheds elderly supramax Indian owner Tolani Shipping has offloaded one of its ageing supramax bulkers. The Mumbai-based outfit is reported to have sold the 2005-built Prabhu Mihikaa to undisclosed interests for $11.85m. The company has been approached for comment. The 55,600 dwt Oshima-built unit was picked up by Tolani for $74.25m in 2008, according to Jinhui Shipping's Hong ...
Diana Shipping locks ultramax into charter with Propel Shipping New York-listed Greek bulker owner Diana Shipping has entered into a time charter contract with Propel Shipping for one of its ultramax dry bulk vessels. Propel Shipping hired the 2016-built, 60,309 dwt bulker DSI Altair. The gross charter rate is $15,750 per day, minus a 5% commission paid to third parties, for a period until ...
BlueFloat Energy and Dajin Heavy to boost floating wind supply chain China's Dajin Heavy Industries and Spanish floating wind expert BlueFloat Energy have signed a memorandum of understanding (MoU) to create a global floating wind supply chain. The agreement between BlueFloat Energy and Dajin focuses on technical innovation, supply chain enhancement, and decarbonization efforts. The two companies will work together to identify the most competitive floating ...
Floatel International wins more vessel options from AkerBP Oslo-based offshore accommodation vessel specialist Floatel International has won a second extension option from AkerBP for one of its vessels. The optional contract, for providing accommodation and support services for a potential new tieback to Hugin A in the Yggdrasil area, is awarded to Floatel Endurance for three to six months. If exercised, the floatel ...
European consortium wraps up acquisition of V. Group A consortium led by European investment fund manager STAR Capital and Belgian holding company Ackermans & van Haaren (AvH) has completed the acquisition of one of the world's largest shipmanagers V. Group. The company was bought from Advent International, a private equity firm that purchased the firm in late 2016 from OMERS Private Equity. According to ...
Harren forms Italian project venture in Genoa Germany's Harren Group has joined forces with Intermare, which it majority owns, as well as Kestrel Italia to found KestrelMare, a project shipping venture based in Genoa. KestrelMare is the new representative office in Italy for Harren Group, including its brands SAL Heavy Lift, Intermarine and Combi Lift. It also serves the JSI Alliance with ...
Damen Mangalia wins repair contract Providing some respite for one of Europe's largest shipyards, Damen Shipyards Mangalia has just won two ship repair contracts, despite being insolvent since June. The Romanian yard has won a contract to repair two Maltese-flagged ships, with the one-month work set to start by the end of this year. "This step is also important from ...
Tidal Transit orders CTV pair UK crew transport vessel (CTV) owner and operator Tidal Transit has ordered two newbuilds at Singapore's Penguin Shipyard to meet the growing market demand for vessels in the offshore wind industry. The company headquartered on the North Norfolk coast has booked Incat Crowther-designed WindFlex-27 CTV vessels, each with capacity for 24 passengers. The newbuilds will ...
Gastech delegates get a glimpse of new ship types The business of shipping gas is ushering in a once-in-a-generation transformation with new energy tradelanes emerging requiring new ship types. Delegates attending this year's annual Gastech exhibition in Houston have been able to get a glimpse of what gas shipping's future might look like with shipyards hosting glossy mega stands and announcing many design approvals. ...
Coastal Contracts seals newbuild brace in China Malaysian offshore vessel player Coastal Contracts is expanding its fleet with newbuilds in China. The Bursa Malaysia-listed firm has contracted Fujian Funing Shipbuilding, a Fujian Shipbuilding Industry Group subsidiary, to build a pair of 85-m-long subsea support and maintenance vessels. No price or delivery date has been revealed for this order. The newbuilds will be ...
Adhira Shipping and Logistics plans London listing Adhira Shipping and Logistics (ASL), a specialist in mining logistics in Africa, has announced plans to list on London's AIM in 2025. With its listing, ASL, an asset-light shipping company, said it expects to achieve revenues of $1bn through its core services in mining logistics within a 10-year span. "By bringing in new technology and ...
$103m suit filed against Dali's owner and manager The US Department of Justice filed a $103m civil claim yesterday against the owner and manager of the Dali containership, alleging negligence and unseaworthy conditions led to this March's dramatic accident in Baltimore which brought port operations to a halt for months. The damning 53-page claim filed at the US District Court for the District ...
Why globalisation is still flourishing Punit Oza, founder of Singapore consultancy Maritime NXT, takes issue with this week's comments from the head of the International Union of Marine Insurance (IUMI) who said he felt globalisation was coming to a close. I recently read the head of IUMI state that globalisation is at its end. As an industry professional and as ...
Singapore Market Report 2024 Splash's annual Singapore magazine returns with our writers canvassing the local shipping and offshore industries about both the strengths and weaknesses of the world's premier maritime hub. Over 60 pages, Splash writers assess many matters likely to become hot-button ones for new prime minister Lawrence Wong's first national elections, which he has to call before ...
US retailers 'extremely' worried as US port strike deadline nears With less than two weeks to go before the strike deadline at US east and Gulf coast ports, the two...
VLGC rates' September spiral continues A narrowing of the price spread between naphtha and LPG, coupled with improved conditions in the Panama Canal, are hurting...
Daily Briefing 20 September 2024 Shipping sizes up the new EU policy power players | US alleges 'entirely avoidable' Dali disaster was caused by negligence...
Shipping sizes up the new EU policy power players The next five years of European policy will prove pivotal for shipping, but the key influencers are no longer just...
Warning on limping bulker's explosive cargo risk A bulker with 20,000 tonnes of ammonium nitrate and a damaged propeller and rudder appears to have lost propulsion off...
Finland warns of dark fleet 'catastrophe' in Baltic Sea Finnish Shipowners' Association's head of maritime policy and safety says the effect of any spill would be compounded if it...
Police do not care about cargo theft, IUMI told 'If I were a criminal, this would be a very good business case. It's a lot of money with very...
Shipowner exit poses 'imminent' threat to London's future New UK transport secretary sees maritime sector's best days as lying ahead and pledges it will be at the heart...
Clean hydrogen investments must increase eightfold to hit climate targets New report from industry body the Hydrogen Council argues the pace of clean hydrogen deployment has not been sufficient
Shipowners' Club sees first-half underwriting surplus almost triple High retention rates indicate underwriting policy 'appears to be not only disciplined but also acceptable to members,' according to Tysers
New storm threatens further vessel delays at China's top ports Terminals are suspending empty container operations in anticipation of tropical storm Prasan
Adhira bets on better logistics for African mines with London IPO bid Dubai-based Adhira Shipping & Logistics hopes to list on London's junior AIM market, betting it can run logistics for junior...
Türkiye signs LNG supply deal with TotalEnergies Türkiye continues to diversify its LNG import portfolio as Botas signs a supply deal with TotalEnergies following a similar agreement...
Braemar 'trading in line with expectations', says shipbroker Board confident in outlook for the remainder of financial year and beyond, according to update
Ammonia-fuelled containership designs jockey for adoption A series of new vessel designs able to use different types of alternative fuels suggests that owners and shipbuilders are...
Golar LNG signs $1.6bn EPC deal with CIMC Raffles for FLNG vessel conversion The contract also includes an option for an additional vessel with delivery in 2028
The week in bunkers: Norway's ammonia bunkering pioneers await results of Equinor tender Ammonia bunkering firms Yara Clean Ammonia and Azane Fuel Solutions are awaiting the results of Norwegian energy giant Equinor's tender...
Hanwha Ocean to invest $1.4bn to become safest shipyard after worker deaths Regardless of management's decisions, the labour union views the investment as missing the point, arguing the most important step is...
Japan resumes engine certification following data falsification scandal Two of the Japanese engine manufacturers at the heart of a data falsification scandal dating back to 1999 have been...
DSV takeover signals end to 150 years of DB Schenker brand While there are still regulatory hurdles to clear, a spokesperson for DSV told the Journal of Commerce the combined company "will continue under the DSV brand" going forward.
SEKO secures fresh financial backing amid prolonged forwarding industry slump The forwarder did not provide financial details, but CEO James Gagne told the Journal of Commerce the transaction puts SEKO on solid financial footing.
Limited air freight capacity available for US port strike-driven cargo shift Eight straight months of double-digit volume growth and a massive increase in trans-Pacific and Asia-Europe e-commerce volumes, mostly shipped from China by air, has left air cargo capacity in short supply.
Suezmax tanker rates rebound to seven-week high amid 'hallmarks of an exciting market' US Gulf Coast market serves as 'trendsetter' in rise from summer slump
'I'm sorry,' Harland & Wolff executive tells shareholders Shipbuilder interacted with all interested buyers and potentially Clive Palmer
Australian iron ore fixtures wake up sleepy spot market for capesizes Average spot rates rose by almost 8% on Thursday
MOL pumps cash into producer of green fuels made using renewable power Japanese shipping giant adds to portfolio of green technology investments
VLGC rates crash with fingers pointing in multiple directions Jefferies analyst argues terminal fees cutting into profits are not impacting freight rates
LNG shadow ship hovers off Russia's eastern supersize FSU While Arctic LNG 2 cargo transshiped in Mediterranean heads back north apparently towards sister storage vessel
Seafarer lost leg after misuse of crane on Hays offshore ship, probe finds UK accident investigators find that crew used controls meant for emergencies only
Victor Restis forces Amanda Staveley company into liquidation in loan row Greek shipowner turning to insolvency specialist to recover interest he is owed
Clasen Rickmers-led Asian Spirit Steamship trims boxship fleet with smart asset play Rickmers family company doubles money on sale of classic panamax container ship
John Fredriksen tops Norway's rich list as cruise magnate Torstein Hagen takes second spot Shipping supremo adds $4.6bn to his fortune in a year, while cruise magnate is the biggest gainer
Chevron Shipping teams with Wartsila to cut LNG carrier methane emissions Single engine on six vessels to be converted from dual-fuel to spark gas operation
Pappu Sastry reveals bulker operator ambition for Adhira Shipping after London IPO Dubai charterer's boss says any shipping operations will be separate to African mining COA business
George Procopiou VLCC rumoured sold at elevated price level Major Greek owner mulls offloading his oldest VLCC before a wave of tanker newbuildings starts rolling in
VLCC owners taking rate discounts to keep tankers positioned for shorter western runs Brokers note increasingly attractive market in Atlantic basin
Disaster waiting to happen: Finnish owners warn on Baltic shadow fleet risk Country powerless to act despite all the ingredients there for major oil spill
Rare deal sees shipowner find offshore conversion buyer for aframax tanker Hong Kong-owned aframax could be heading for FSO conversion with Malaysian buyer
Reborn shipyard Hengli Heavy Industries stacks orderbook with four VLCC newbuildings Parent Hengli Group is behind the move for crude carriers
Long-time Eagle Bulk man Costa Tsoutsoplides set to join private shipowner This week's Streetwise takes a look at yet another exit from Star Bulk after its acquisition of US bulker owner
Meet the Greek shipping novice set to shape the industry in European corridors of power Europe's top maritime nation gets its first EU transport czar in four decades
Shipping turns tide back to Europe after Draghi raises 'competitive disadvantage' concern New competitiveness blueprint envisages role for maritime industry
Harren Group and partners form new project cargo and heavylift joint venture Heavylift and multipurpose specialist Harren said it sees 'great potential' in Italy
'Pure luck' saved lives: Dramatic accounts emerge of close shaves as Red Sea crisis spiralled Narrow escape for master and cook highlights 'pure luck' that has limited seafarer death toll to four
Trafigura inks $150m finance deal to ship bulker cargoes out of UAE Trader and shipowner wants to expand exports from Middle East nation
Houthi missile shrapnel missed sleeping captain by centimetres: How luck saved lives as Red Sea crisis spiralled Narrow escape for master and cook highlights 'pure luck' that has limited seafarer death toll to four
Monjasa boosts trainee numbers as it fosters next generation of bunker traders Danish fuels and tanker group takes on 13 young people around the globe
Tanker owner James Fisher seals $126m refinancing as it eyes growth UK company has been shedding non-core operations as it turns around profit
'You cannot just make it up': European owners behind on ESG data crunching New ESG reporting directive forces more transparency from listed European companies
India's largest private owner Great Eastern mulls boxship entry as Red Sea crisis fuels boom Great Eastern says box entry 'on its radar' although market may be too heated at present
'Abjectly unseaworthy': Shipowner and manager face blame in US claim of 'cascading events' that led to Baltimore disaster Oil Pollution Act claim raises prospects of economic damages
Helga Cotgrove to run Eidesvik Offshore as CEO Gitte Gard Talmo heads for exit Finance chief appointed interim boss as hunt for departing leader's successor goes on
Pivot to container ships 'on the radar' for Great Eastern as owner mulls fleet diversification Indian owner says box entry 'on its radar' although market may be too heated at present
Abjectly unseaworthy': Shipowner and manager face blame in US claim of 'cascading events' that led to Baltimore disaster Oil Pollution Act claim raises prospects of economic damages
Braemar swells orderbook as bosses confident of positive shipping outlook into 2025 London Stock Exchange-listed broker also set to increase profit and revenue in first half
Idan Ofer's Eastern Pacific charters two chemical tanker newbuildings from AVIC Leasing The pair of 25,000-dwt newbuildings will be operated by Ace Quantum Chemical Tankers pool upon delivery
Exit of billionaire real-estate investor leads Christopher Fjeld to ring changes at bulker owner Bulker owner formerly known as Sterling Shipping is moving from Malta
US files claim alleging $103m in damages over 'entirely avoidable' Dali tragedy Oil Pollution Act claim raises prospects of economic damages
Reborn shipyard Hengli Heavy Industry stacks orderbook with four VLCC newbuildings Parent Hengli Group is behind the move for crude carriers
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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