Administration moves to counter cybersecurity threat from made-in-China port cranes The White House has announced a series of measures being taken by the Biden administration to enhance cybersecurity in U.S. ports and, in particular, address the threat posed by Chinese-manufactured port cranes.
New methanol dual-fueled WTIV design gains ABS AIP ABS has issued its approval in principle (AIP) to China's Yantai CIMC Raffles Offshore Ltd. for its design of a heavy-duty, methanol dual-fueled WTIV (wind turbine installation vessel). The methanol dual-fueled WTIV
Hornblower restructures, pulls plug on American Queen As part of a restructuring that will see it get an infusion of cash and a new majority owner, Hornblower Group has filed a voluntary petition for relief under Chapter 11 of
TTB 2024: How realistic are zero-emission targets for tugs and towboats? As the industry is set to undergo a "green" revolution to meet decarbonization targets, not everyone is convinced that these goals are tangible for everyone. To discuss this in more detail, a
Unlocking the Advantages of MERV Filters for Your Home In the quest for a healthier and more comfortable indoor environment, many homeowners are turning their attention to the air quality within their living spaces. One effective way to enhance indoor air quality is by using MERV filters in heating, ventilation, and air conditioning (HVAC) systems. MERV, or Minimum Efficiency Reporting Value, is a standard that rates the effectiveness of air filters.
Hapag-Lloyd introduces new rates from Indian Sub to North Europe Hapag-Lloyd is implementing tariff rate adjustments for shipments from the Indian Subcontinent to North Europe. These adjustments will come into effect for sailings commencing on 6 March 2024 and will remain valid until further notice. Below are the details regarding these rate adjustments: (In US$) 20 'Dry Containers From* To* Current base rate level New base rate level Delta Chittagong, BD Nort
Maersk completes largest infrastructure investment in New Zealand with new cold chain facility A.P. Moller-Maersk marked the inauguration of its cutting-edge integrated cold chain facility at the Ruakura Superhub, reaffirming Hamilton's pivotal role as a central hub for freight and logistics in New Zealand's Golden Triangle. With an investment of around US$90 million, this facility represents Maersk's largest infrastructure investment in the country. The newly opened facility extends the r
HMM earns 'A-' environmental rating from CDP HMM has been honoured for its commitment to sustainability and transparency in addressing climate change by the global environmental organization CDP, achieving an 'A-' rating. This marks a notable improvement from the 'B' rating received in 2022. The company's achievement of an 'A-' score in 2023 places it among the top 19% of companies in the marine transport sector, surpassing the Asia regiona
Expanding supply to put brakes on rates A rise in container capacity will halt the increase in freight on the major east-west trades according to Drewry's latest tool, the Container Capacity Insight (CCI), launched on 20 February. A surge of 8% month-on-month across all three major east/west trades from February to March this year can be broken down into a surge in capacity of 11% from Asia to west coast North America and a contraction
Kalmar to provide Hutchison Ports ECT Rotterdam with ten straddle carriers Kalmar, a part of Cargotec, has finalized an agreement to provide Hutchison Ports ECT Rotterdam with ten straddle carriers, comprising two fully electric and eight hybrid models, for its ECT Delta terminal. This order was recorded in Cargotec's order intake for the first quarter of 2024, with delivery scheduled for the fourth quarter of the same year. Hutchison Ports ECT Rotterdam operates two co
Maersk applies new PSS from Far East to East Coast South America Maersk is adjusting Peak Season Surcharge (PSS) rates for selected routes effective March 1 to 31 March 2024, to ensure continued global service provision. The changes in the peak season surcharge rates will be applied as follows: Surcharge code - PSS Origin Destination Effective Date All 20 Dry All 40 Dry 45hdry Brunei, China, Hong Kong China, Indonesia, Japan, Cambodia, Korea, South, Laos, Myan
Canada invests US$1.9 million in supply chain initiatives The Port of Montreal is delighted by the recent announcement from Transport Canada regarding funding exceeding US$1.9 million through the National Trade Corridors Fund. These grants support two projects aimed at enhancing supply chain efficiency through the utilization of innovative technological solutions, thereby bolstering Canadian trade corridors. Close to US$1.9 million is being allocated to
Port of Savannah nears 430,000 TEUs in January The Port of Savannah handled a total of 428,000 TEUs in January, showing a moderate increase of 1.5% (equivalent to 6,300 containers) compared to the same month last year. In January, rail cargo throughput at the Port of Savannah surged to 47,132 containers, marking a significant 27% increase of 10,000 boxes compared to the previous period. Meanwhile, this uptick follows the completion of GPA's M
Shipping in the Year of the Dragon: Dry bulk How will dry bulk fortunes differ from what materialised last year? The second installment in our brand new issue of Maritime CEO giving readers a sense of what to expect in the months ahead. Any dry bulk forecast must start with the state of the Chinese economy. In late January, a Hong Kong court ordered ...
Jinhui snaps up kamsarmax in latest fleet renewal move Chinese bulker owner and operator Jinhui Shipping and Transportation is further expanding its fleet with a modern kamsarmax purchase. The Oslo- and Hong Kong-listed outfit has emerged behind a recently reported deal for the 81,567 dwt 2019 Jiangsu Hantong-built , paying just over $31.1m. The vessel, estimated at $30.3m by the online pricing platform VesselsValue, ...
Boskalis snaps up Altera's ALP Maritime Services Dutch-based Boskalis has acquired Altera Infrastructure's anchor-handling and towage unit, ALP Maritime Services. The deal, approved by the Brazilian Administrative Council for Economic Defence (CADE), will see the HAL Investments Group-controlled dredging and offshore contractor bolster its capabilities in towing ships, maritime structures, and FPSO units. Established in 2010, ALP has a fleet of
MSC approaches market share milestone Gianluigi Aponte-founded Mediterranean Shipping Co (MSC) stands on the threshold of another growth landmark, set to become the first liner to command a 20% global market share since Maersk momentarily hit such heights for a few months in early 2018. MSC and Maersk will part ways next year from their 10-year partnership in the 2M ...
NYK goes to domestic yard for latest CTV newbuild Nippon Yusen Kaisha (NYK) has contracted Kosaba Shipbuilding for a crew transfer vessel newbuild, the first CTV order the Japanese line has placed at a domestic yard. The vessel, delivering in late 2025 or 2026, will be the third CTV owned by NYK and the company's second owned unit deployed to support the Japanese offshore ...
Thor Dahl sells its last boxship to MSC Norway's Thor Dahl Management has sold its last boxship, the 1999-built Thorswind, which it had owned in a joint venture with Ness Risan. Thor Dahl has recently outlined plans to get into the business of zero-emission bulk carriers. The world's largest containerline - and biggest buyer of vintage tonnage this decade - Mediterranean Shipping Co ...
International Seaways swoops for six MRs Minnesota-based Wayzata Investment Partners is behind what brokers at Cleaves Securities have coined as the deal of the week. Brokers note that the company has offloaded all its ships to US-based shipowner International Seaways, who has tabled $238m for six 50,000 dwt SPP-built tankers built between 2014 and 2015. The ships are called Saint Albans Bay, ...
Tim Huxley pinpoints best shipping investment plays Tim Huxley, chairman of Mandarin Shipping, one of the best known names in Hong Kong shipowning circles, has given his take on the markets for the Year of the Dragon. Huxley was invited to speak at the Hong Kong Shipowners Association (HKSOA) annual analyst lunch yesterday in which the former Clarksons broker gave his take ...
Salvage teams drafted in ongoing Tobago clean-up operation The government of Trinidad and Tobago has hired overseas help in the ongoing clean-up along its shoreline following a laden barge sinking two weeks ago. Two American firms, T&T Salvage and QT Environmental, have been drafted in. Divers are expected to find and plug leaks on the overturned barge while crews deploy an underwater oil-detection ...
Evalend pens orders for ammonia carriers in South Korea Greek broker Intermodal has identified Greek owner Evalend Shipping as the company behind an order for a pair of ammonia carriers in South Korea this week. HD Korea Shipbuilding & Offshore Engineering (HD KSOE) announced earlier this week it had won an order for two very large ammonia carriers (VLACs). Costing $121m each, the 91,000 ...
Genco dividend beefed as earnings improve New York-listed bulker owner Genco has returned to profitability in the fourth quarter after going red in third, but finished...
Explosion reported in Red Sea amid warnings of increased drone activity UKMTO said it received reports of an explosion and a flash sighted about 40 nautical miles west of Al Hodeidah...
StealthGas makes 'promising start' to year after record 2023 Greece-based company cuts debt by more than half in 12 months
Cosco ships join dwindling number risking Red Sea passage While not the first Cosco vessels braving these waters, the latest voyages signal that the Chinese giant remains undeterred by...
US announces port cyber security initiative The White House has unveiled an initiative to bolster cyber security in US ports that will expand the US Coast...
Equipment demand rises as chokepoints slow movement Longer passage times are soaking up container equipment. Manufacturers are benefiting after a year of reduced demand
Euroseas hikes dividend after strong fourth quarter Euroseas felt 'sufficiently protected' to increase reward for shareholders
United Maritime adds third bareboat-chartered bulker amid dry bulk optimism Within February the Nasdaq-listed owner has agreed a sale-and-leaseback transaction for another of its existing vessels
Newbuildings ease rerouting boxship capacity demands Diversions around the Cape of Good Hope are soaking up capacity. But with newbuildings flooding in, overcapacity still looms for...
Falls in Red Sea ship traffic stabilise as Suez transits hit fresh low Weekly gain in smaller, feeder containerships filling the void left by larger east-west vessels now transiting around the Cape of...
NYK teams up with Chile's Enaex for low-carbon ammonia supply Chilean firm Enaex aims to produce 18,000 tons of green ammonia per year by 2025
Containership charter market continues to strengthen Tonnage providers are attempting to obtain longer charter periods, but are meeting resistance from liner operators with large newbuilding orderbooks
SeaLead's new Gulf India Express service boosts India-Middle East Gulf trade links Saudi Arabia is India's second-largest trading partner and there are plans to double bilateral trade to $100bn in the next...
Evalend emerges as owner behind latest VLAC pair Greek owner's previous series of VLGCs will be coming on stream this year and can carry ammonia at 87% capacity
Daily Briefing P&I clubs hail renewal tonnage gains | Abandoned ship hit by Houthis towed to Djibouti | Extra due diligence begins...
January cargo spike could bode well for eastbound trans-Pacific in 2024 The fourth consecutive month of year-over-year growth in US imports from Asia might be a sign the world's busiest trade lane has turned the corner after a lackluster 2023 in which imports declined about 13%.
'Disciplined' truckload carriers attempt to hold the line in annual pricing talks Many US truckload customers engaged in annual bids and contract talks are still looking for rate cuts, but the potential for a market turnaround is tempering behavior.
Genco Shipping reports stronger first-quarter rates and bigger dividend New York bulker owner confirms two more sales of older capesizes as it reports in-line earnings
As Houthi sanctions take force, US carves out exceptions for humanitarian aid and other goods Medical devices, food and refined products still can shipped to Ansar Allah-controlled areas of Yemen
US pause on LNG project permitting a 'major problem', Poten says Anticipated post-2027 supply glut will be shorter-lived than expected, with most new projects facing delays
'Even if we blow everything up, they wouldn't care': Houthis push Red Sea battle into a more tense phase Maritime security experts believe Houthis will find ways to attack shipping even after US strikes
Jinhui Shipping buys panamax bulker from Nisshin as fleet renewal gathers pace Chinese shipowner is out to modernise its fleet of bulkers and has not ruled out further sales of its older vessels
Euroseas rides container shipping's Red Sea charter rate boom to higher profits Aristides Pittas hails benefits of 'unexpected comeback' in container ship markets
'Even if we blow everything up, they wouldn't care': Houthis push Red Sea battle into fourth phase Maritime security experts believes Houthis will find ways to attack shipping even after US strikes
French analysts nail UAE tanker for causing 11 km slick off Sri Lanka Case marks the first time country has used satellite technology to find spill culprit
Robust global demand 'set to keep VLCC rates buoyant' Rising Middle East to China fixtures supported by demand for Atlantic cargoes
World first for Chemship: Suction sails set to drive down emissions Chemship boss says 'it's not about the money' as he eyes energy savings
Norwegian domestic wealth fund's top picks in $1.3bn shipping and offshore book revealed Fund added exposure at multiple Fredriksen companies, BW LPG and Hoegh Autoliners
Grieg Star boosts maternity benefits at 'challenging' time for seafarers Norwegian manager wants to make it easier for female crew members to juggle parenthood and careers
Red Sea crisis masks wave of container ship newbuilding deliveries Arrival of fresh capacity to exceed needs even with rerouting liner fleet around Africa
World's two largest container lines and Japanese giant on the move in P&I renewals Brokers report lower-than-usual movements between clubs as P&I clubs ease off on rate rises
'Overwhelmed' tanker buyers step back as rate hike pushes up secondhand prices Researcher Eva Tzima says impasse could be broken by investors accepting bigger price tags for tonnage
Dynacom Tankers swells newbuilding orderbook with suezmax brace Dynacom returns to China for suezmaxes
Houthis claim attack targeting MSC-controlled bulker Vessel operated by Swiss giant is latest in militants' sights during active week
Mats Berglund cashes in on rising Ardmore Shipping share price Tanker company's director offloads stock in $163,500 deal
Tankerska Plovidba takes control of bulker rival after $75m takeover Croatian owner adds 25% chunk of Atlantska Plovidba's shares following offer
Eidesvik Offshore heads into 2024 on high note with sold out fleet Norwegian owner has big contract backlog amid strength across segments
Abandoned bulker struck by Houthis still afloat off Yemen, say sources Yemeni militant group prematurely celebrated their first claimed ship sinking
Cashing out: Greek product tanker player tipped to be selling last ship Athens-based Leon Shipping & Trading tied to profitable MR disposal
Former Diamond S chairman quits International Seaways in board shake-up Nadim Qureshi joined as a director during the US owner's 2021 merger process
Navios Maritime tipped to buy back stock as cash pile heads towards $350m Fearnley Securities also not ruling out more newbuildings for Greek group
Boskalis swoopd for Altera's fleet of super-large anchor-handlers Dutch owner's deal revealed by Brazilian competition ruling
Greek owner SteelShips profits from flipping MR tanker newbuildings Once again, owner Nicholas Notias turns newbuildings into asset plays
Norwegian operator led by Fearnleys veteran plots next move after bulker exit Oslo-based Vincent Shipping has handed on deals for four dry bulk ships owned by Nisshin Shipping
Formosa Plastics Marine sells mini-capesize bulker as it shrinks owned fleet The company has sold one of its two remaining mini-capesize bulkers for $17m
Day one: ZeroNorth and Alpha Ori kick off alliance after winning regulatory nods Combination of shipping tech platforms will accelerate green global trade, partners say
Chinese grains appetite goes increasingly long haul, and that is good for dry bulk Brazil and Argentina are muscling into Chinese corn and wheat imports, moves that will add tonne-miles to the trade
Breaking boys club image: Bulker charterer Elaine Yu on unlocking shipping's full talent pool Creating an inclusive environment will attract diversity, says industry body's Singapore chair
SeaLead targets slice of $100bn India-Saudi trade with new service Growing Singapore liner company looks to ride India's emergence as alternative to China
LNG bunker vessel damaged after cargo ship collision off South Korea All crews safe but Kogas-chartered LNGBV reported damage resulting in a gas leak
US targets Chinese-made container cranes in spy crackdown New cyber-risk requirements for container terminal owners and operators are part of a major maritime cybersecurity initiative announced by the White House.
Taiwanese startup Starlux Airlines orders 5 A350 freighters from Airbus Newbie airline Starlux in Taiwan has signed with Airbus for five large A350 freighters, an aircraft that is still under development.
Analysis: Expeditors blames pandemic volatility for results but needs to tackle bloat Expeditors makes less money than it did five years ago.
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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