Canada steeply increases the size of maritime penalties The size of monetary penalties for violations under the Canada Shipping Act, 2001 has been increased by a whopping-tenfold: from a maximum of CAD 25,000 to a new maximum of CAD 250,000
Norway's Torghatten Nord orders world's largest hydrogen powered ferries Norwegian ferry operator Torghatten Nord has awarded Myklelbust Shipyard a contract for what, it says, will be the world's two largest hydrogen powered ferries. With a length of 117 meter and a
Port Houston exceeds 1 million TEU mark in first three months of 2024 In the first quarter of 2024, Port Houston experienced a significant surge in container volumes. From January to March, the US port handled 1,069,917 TEUs, marking a 15% increase compared to the same period last year. March, in particular, witnessed remarkable container volumes at Port Houston, reaching 360,991 TEUs, a notable 20% rise compared to March 2023, making it the port's busiest March on
Ulsan Port, Pacific Environment sign decarbonization deal During Singapore Maritime Week, the Ulsan Port Authority (UPA) signed a Memorandum of Understanding (MoU) with Pacific Environment (PE), an international environmental organization, to accelerate the transition of shipping ports into eco-friendly facilities. The agreement signing took place at UPA's 'Shipping Port Decarbonization Networking Reception' on 17 April. The reception attracted over 32
Seoul earmarks US$2.5 billion to boost vessel capacity of smaller box lines As part of plans to grow the locally owned container shipping fleet, the South Korean government will set aside around US$2.5 billion to increase the fleets of SM Line and other South Korean feeder operators by 100,000 TEUs. The kitty is targeted at SM Merchant Marine, commonly known as SM Line, Sinokor Merchant Marine, Korea Marine Transport Company (KMTC Line), Pan Ocean, CK Line, Namsung Shipp
Major container lines jointly launch Asia - East Coast South America service Five of the largest ocean carriers are cooperating to introduce a new service connecting important ports in Asia with the East Coast of South America. In particular, CMA CGM, COSCO, OOCL, Evergreen and PIL will jointly launch the new service on the Asia-Latin America trade in May. The service will have two separate loops. The first loop will be operated by 12 container ships of up to 14,000 TEU c
European and US ports feel the squeeze in volatile market The shifting sands of economic activity are being mirrored in the development of the ports industry with terminals in emerging economies beginning to rise in the rankings as regional ports become more important. Alphaliner's annual list of top 30 ports has seen Dubai replace Rotterdam in the top ten , an event that owes more to Rotterdam's declining volumes than Dubai's growth, while Tanger Med h
Freightify appoints new senior vice president of Enterprise Product & Professional Services Freightify, the Singapore-based software-as-a-service company, announced the appointment of Claus-Robert Heinze as the new senior vice president of Enterprise Product & Professional Services. With a firm commitment to advancing infrastructure and innovative freight tools, Freightify is excited to welcome Claus-Robert Heinze to spearhead the delivery of intuitive solutions to global freight forwar
Study reveals opportunities along green shipping corridor between Singapore and California One year after the Memorandum of Understanding (MoU) signed to establish a Green and Digital Shipping Corridor, the Maritime and Port Authority of Singapore (MPA), Port of Los Angeles and Port of Long Beach have concluded a comprehensive baselining study. This study projects an increase in green jobs, improvements in local community health, and economic benefits for participating countries. It al
Mixed movements in global bunker indices During the 16th week of the year, the Marine Bunker Exchange (MABUX) global indices displayed mixed dynamics without a clear trend. The 380 HSFO index increased by US$2.83 to US$552.14/MT. The VLSFO index declined by US$1.88, registering US$694.83/MT, consistently remaining below the US$700 mark. Meanwhile, the MGO index decreased by US$11.06 to US$895.42/MT, falling below the US$900 mark. "At th
CMA CGM increases rates from Asia to Mediterranean CMA CGM has announced increased Freight All Kinds (FAK) rates from Asia to the Mediterranean, effective from 1 to 14 May (date of loading in the origin ports) until further notice: FROM ASIA 20' 40'/40'HC WEST MEDITERRANEAN US$3,800 US$5,200 ADRIATIC US$3,900 US$5,300 EAST MEDITERRANEAN US$3,900 US$5,300 BLACK SEA US$4,000 US$5,400 ALGERIA US$5,100 US$6,800 TUNISIA US$4,600 US$6,200 LIBYA US$5,00
Gebrüder Weiss establishes new logistics center in Germany On 18 April, Bavaria's Minister-President Dr. Markus Söder inaugurated the new branch of Gebrüder Weiss in Straubing, Germany on "Logistics Day", an annual event where the nationwide industry opens its doors. He hailed Gebrüder Weiss' US$15 million investment in Straubing as a beacon of hope amidst what he described as challenges faced by truck logistics in Germany. Dr. Söder expressed concerns o
Stormy weather sends Middle East supply chains out of whack Days of bitterly unusual weather across the Persian Gulf region have sparked serious concerns for ocean and air freight stakeholders, dealing another blow to supply chains already caught up in worsening geopolitical setbacks after the Iran-Israel faceoff. Cargo agents and other shipping industry sources in Dubai have reported significant cargo delays and backlogs, which they believe could take up
Bridge Quality in the U.S. In the early morning hours of March 26, 2024, the Francis Scott Key Bridge in Baltimore, Maryland collapsed. Named after the author of the Star Spangled Banner, this bridge, also known as the Key Bridge, had been standing strong since 1977. While the bridge collapse occurred due to a cargo ship losing power and crashing into one of its main beams, the tragedy still brings about concerns regarding
AD Ports Group partners with ADNOC Distribution for marine lubricants AD Ports Group has announced its Ports Cluster's expansion into the global distribution of marine lubricants. This decision follows a strategic partnership with ADNOC Distribution, a leading manufacturer of marine and automotive lubricants in the UAE. "This agreement will see two major global corporations, with vast expertise in their respective fields, creating new opportunities within the marin
Diana Shipping charters out capesize bulker to Bohai Shipping New York-listed Greek bulker owner Diana Shipping has entered into a time charter contract with Bohai Shipping for one of its capesize dry bulk vessels. Bohai Shipping hired the 2013-built, 179,134 dwt bulker P. S. Palios. The gross charter rate is $27,150 per day, minus a 5% commission paid to third parties, for a period ...
Ontario Shipyards shuts Thunder Bay yard Canadian ship repair and construction firm on the Great Lakes has halted work at its facility in Thunder Bay. Operations at the site have been temporarily idled largely due to a slow market and the availability of skilled workers, the company told local media. The yard struck a deal in 2020 to build blocks for ...
Equinor cleared to double capacity at two UK offshore wind farms Norwegian energy major Equinor has received consent to double the capacity of the operational Sheringham Shoal and Dudgeon Offshore wind farms. The consent for the windfarm extension projects was awarded by the UK Secretary of State for the Department of Energy Security and Net Zero Claire Coutinho. This will double the capacity of the existing ...
Port of Newcastle looking to become floating wind hub The Port of Newcastle has revealed its intention to become an offshore wind hub and to service floating wind turbine projects in the Hunter offshore wind zone. The Australian port is owned by Macquarie's Infrastructure Fund and China Merchants Port Holdings Company. It is located adjacent to the 1,854 sq km Hunter offshore wind zone. ...
UK offshore wind industry reveals plan to triple supply chain RenewableUK, the Offshore Wind Industry Council, The Crown Estate, and Crown Estate Scotland have published a detailed Industrial Growth Plan looking to triple offshore wind manufacturing capacity over the next ten years. The UK offshore wind industry currently employs 32,000 people and each new large offshore wind farm adds £2-3bn (between $2.5bn and $3.7bn) to ...
Shipping on alert as Israel retaliates against Iran Israel launched an attack on Iran on Friday, sparking concerns about the conflict escalating further across the seas of the Middle East. Iranian state media reported that air defence batteries had been activated against unmanned aerial vehicles (UAVs) after reports of explosions near a major airbase close to the city of Isfahan. Maritime security experts ...
New report finds 'alarming' amount of global merchant fleet still has no internet access As much as 13% of the global merchant fleet has no internet access, a new survey has found. Idwal, a British ship inspection company, has just launched a social impact report, which draws on data from more than 13,0000 vessel inspections over a 17-month period through to September last year, providing unprecedented transparency into the ...
Japanese feeder operator goes hybrid with latest order A Japanese feeder line has embarked on a zero-emission boxship project. Imoto Lines, together with compatriot tech firm Marindows, is aiming to produce ships that achieves zero CO2 emissions not only during operation but also within ports and while docked. State funding has been granted for the development. Imoto intends to create a hybrid ship ...
Three approaches to making shipping transactions more digital Torgeir Willumsen, resident partner at Simonsen Vogt Wiig in Singapore and founder of Assentiri, with some advice for shipping on the industry's digital path. Earlier this month I discussed some key obstacles to digitalising shipping transactions: the complexity of the shipping industry, the human element and security concerns. These are all valid reasons for why ...
NYK unveils scraping robot The Japanese are leading the charge to get robots working on ships at sea. Nippon Yusen Kaisha (NYK) with a number of other local companies has just conducted a trial of a remote-controlled robot that scrapes wood chips in the hold of a wood-chip carrier. NYK said in a release the new scraping robot aims ...
Carbon transport hangs in balance amid CO2 capture setbacks Low carbon prices and a lack of mature projects are holding back carbon transport, as projects have been slow to...
Lloyd's List Outlook Forum told of tectonic shifts in supply chain and trading flows The unfolding events in the Middle East are capturing everyone's attention, but bigger changes may still lie ahead
Agreement reached for 1.4m tonne US ammonia plant Project has been called the first 'meaningful' volume of low-carbon ammonia, with production set to start in 2028
Brexit checks will go ahead as planned, despite confusion UK port organisations expect import checks to be in place by the end of the month, pouring cold water on...
Russia's sanctioned ships continue trading unabated Sanctions are a key tool for Western governments to damage Russia's economy. The US has been actively targeting ships and...
China looks to lead low-carbon methanol production The Methanol Institute expects global production of low-carbon methanol to reach 6.8m tonnes at the end of 2025
Gulf crisis yet to affect container spot rates The Middle East Gulf remains open for shipping, despite the seizure of MSC Aries. But any further escalation could have...
Warnings issued to vessels as Israel strikes Iran Latest escalation in conflict between Iran and Israel has increased tension for shipping in the Middle East
Industry urges UN secretary-general to protect seafarers 'Shipping is not a target with no victims. Innocent seafarers have been killed, seafarers are being held hostage. This would...
Daily Briefing LNG carriers would lose but VLGCs could gain in Hormuz closure scenario | Eswatini shipping registry flagged as 'false' operation...
Heidmar acquires Landbridge Ship Management to expand into technical management Under Heidmar's stewardship, the goal is to use the Hong Kong-based manager's successful history of securing long-term charters with top-tier...
Warehousing demand in Southern California lagging import surge, for now Warehouse vacancy rates are still rising in Southern California due to what Prologis says is a long correction, but a wave of imports may change that.
Norfolk Southern makes final push to thwart activist investor The railroad and Ancora Holdings have been trading barbs ahead of a May 9 vote by shareholders that could see Ancora oust the railroad's top executives.
Cautious shippers navigate post-pandemic landscape of visibility data tools The primary dilemma for shippers is whether to source visibility data or applications from a standalone vendor or to expect it to be included in a bundle from a third-party logistics provider.
Supply-demand disruption continues to elevate South Asia air cargo rates Given the huge volumes involved in ocean freight, even a small percentage shift in transport mode from South Asia shippers is enough to keep air cargo demand and rates buoyant.
Ocean carriers seek clarity on D&D billing to truckers under new FMC rules The World Shipping Council said the Federal Maritime Commission's new rule on detention and demurrage is creating "substantial confusion and uncertainty."
Jean-Baptiste Choimet named new CEO of GTT as Berterottiere becomes chairman After 15 years, Philippe Berterottiere hands over reins of major LNG technology provider as he steps up to lead board
Editor's selection: Middle East at melting point and VLCC investor appetite cooling These are the big shipping stories making headlines this week
'Very favourable' Nordic market tempts Yinson into a debut $500m bond issue Company will apply for the bond to be listed on the Oslo Stock Exchange
Bosses plotting more orders at US start-up Kalypso Offshore New York company says it wants to expand owning and management operations after revealing plan for first cable-layer
Pacific Basin Shipping kick-starts $40m share buyback scheme Owner-operator's freight earnings during the first quarter were weaker than last year
Tributes pour in as 'irreplaceable' shipping lawyer Julian Clark dies Former CJC, Hill Dickinson, Ince and Gard maritime expert was given terminal cancer diagnosis in November
'We'll find some deals': Shipless owner Bob Burke eyes next move after huge tanker payday Connecticut-based market veteran talks about buying, selling and one other option Ridgebury Tankers considered
Mystery shipping donor auctions exclusive fishing trip for Ukraine charity Proceeds will go towards the home in Gdansk for displaced children and families
Lloyd's refuses $426m Nord Stream blast claim over war clause Responsibility for the 2022 attack remains unclear after Danish and Swedish investigators close probes
NYK cancels shares worth $1.32bn after mammoth buyback spree Cash-rich Japanese giant boosts value for shareholders
Principles over profit: Why specialist P&I provider turned down $50m in business Shipowners' Club CEO Simon Peacock says declined business reflected growing membership and tonnage
Former DEME bosses plotting more orders at US start-up Kalypso Offshore New York company says it wants to expand owning and management operations after revealing plan for first cable-layer
CMA CGM sells ageing container ship to make room for next generation of newbuildings French company also agrees to sell part of Bollore Logistics' overseas activities
Wavelength podcast: Genco boardroom brawl and geopolitical tensions Featuring: Wobensmith on Economou, cargo owners sign to pay extra for shipping, fears of shipowners as global tensions rise
Abu Dhabi investor linked to swoop for Danish Ship Finance's $5bn loan book Financier staying tight-lipped as Danish report claims Mubadala Investment plotting takeover
Shipping demands UN bolster military protection after Iran ship snatch Key players bemoan the lack of global outrage over the fate of seafarers
Danaos Corp fixes $450m of finance for new eco container ships Greek owner taps four major banks to secure post-delivery funds for eight vessels
Grieg Maritime Group elects two new directors as Eureka Shipping CEO exits Espen Gjerde from Wilhelmsen and Akastor's Paal Espen Johnsen join board
Hoegh LNG logs CO2 emissions rise for 2023 as FSRUs pressed into service Company declares itself 'steadfast' on reduction targets and is also taking taking new steps on methane slip
World's first ammonia dual-fuel aframax tankers ordered by MISC shipping arm AET Newbuildings are time chartered to Petronas division PETCO Trading Labuan and will be built by Dalian Shipbuilding
'Kabuki theatre' engagement and 'name-calling': Standoff simmers between George Economou and Genco Greek tycoon pens another message to Genco shareholders and receives abrupt response
Idan Ofer's Eastern Pacific to trial electric vessels in Singapore for crew and cargo transfers Tie-up hopes to provide valuable data that will pave the way for wider adoption of electric vessels
Cocaine and coal: Quick-thinking Precious Shipping seafarers deny entry to alleged smugglers Three men arrested after discovery on handysize bringing in coal from Colombia
DFDS hires new finance chief from renewable-energy company to drive green transition Karen Dyrskjot Boesen will replace Karina Deacon on 1 July
Second Spanish region scraps plan to bring in water on tankers to ease drought Catalan government to use desalination plants to address supply needs
Chandris joins Greek newbuilding rush with product tanker order Traditional Piraeus player books LR2s at Guangzhou Shipyard after clearing out older crude carriers
Grieg Maritime Group elects two new board directors as Eureka Shipping CEO exits Espen Gjerde from Wilhelmsen and Paal Espen Johnsen from Akastor join the board
Shipping warned of fresh drone threats following suspected Israeli retaliation against Iran Impact on oil markets could be muted after apparent low-level drone operations against Iran
Singapore's FSL Trust could sell product tankers as charters expire Shipowner quizzed over strategy at AGM
Heidmar enters technical management through Hong Kong VLCC outfit Landbridge Ship Management becomes part of Pankaj Khanna-led company
Greek broker Optima Shipping Services says a big 'kalimera' to Singapore with opening of new office S&P broking giant wants to link the world's leading maritime city with the biggest shipowning nation
Singapore seeks estimates of freight and insurance costs to import ammonia MPA has identified eight potential global sources
'Breaking decarbonisation deadlock starts with small steps,' Shell's Karrie Trauth tells Singapore Digital data and alternative fuels can help to decarbonise shipping
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