VIDEO: MSC donation kickstarts project to build new Mercy Ship A groundbreaking agreement between MSC Group, MSC Foundation and Mercy Ships International will see the construction of a brand-new Mercy Ship for the international charity, which delivers free surgery and training annually
MOL in Japanese on board carbon capture first Mitsui O.S.K. Lines Ltd (MOL) will be the first Japanese shipping company to commercially install a CO2 capture solution on board one of its ships. And that's good news for Rotterdam headquartered
New Coast Guard Cyber Command report shows threats are rising U.S. Coast Guard Cyber Command (CGCYBER) has released its second annual Cyber Trends and Insights in the Marine Environment (CTIME) report. Since December 2020, CGCYBER has rapidly developed resources, capabilities, and partnerships
IMO to establish new office in Fiji to support Pacific Island countries At the International Maritime Organization (IMO) headquarters in London on 18 March, Arsenio Dominguez, secretary-general of IMO, and Ro Filipe Tuisawau, minister for Public Works, Meteorological Services, and Transport of the Republic of Fiji, officially signed a Memorandum of Understanding (MoU) for the opening of a new IMO office in Fiji. The Regional Presence Office is established to address
DPW London Gateway welcomes world's first electric straddle carrier fleet DP World celebrates the arrival of eight fully electric straddle carriers at its upcoming US$432 million fourth berth in London Gateway. This groundbreaking move signifies a major leap in sustainable logistics, as these innovative machines will form part of the world's first all-electric fleet at a port, servicing the inaugural all-electric berth. Weighing approximately 62 tonnes each and costing
PIL predicts Red Sea crisis to keep it in black for 2024 Despite sharply reduced earnings in 2023, Singapore's Pacific International Lines (PIL) expects the Red Sea crisis to keep the once-struggling liner operator in the black for 2024. PIL submitted its 2023 financial statements to the Accounting and Corporate Regulatory Authority of Singapore early in April 2024. The figures showed PIL's net profit dived to US$307 million, from US$3 billion in 2022
cargo-partner opens its first warehouse in UK Global transport and logistics provider cargo-partner announced the opening of its first warehouse facility in the United Kingdom, marking a significant milestone in its strategic expansion projects. Located close to one of the company's existing offices in Basildon, the new 4,460 m² warehouse facility complements cargo-partner's established UK operational hubs spanning Manchester, Bradford, and
Temporary channel opens in Baltimore to facilitate ship traffic after bridge collapse The Captain of the Port of Baltimore established the Fort Carroll Temporary Alternate Channel, which is on the northeast side of the main channel in the vicinity of the Francis Scott Key Bridge and will provide limited access for commercially essential vessels. The Fort Carroll Temporary Alternate Channel, depicted in green, has a controlling depth of 20 feet, a 300-foot horizontal clearance, and
Geopolitical volatility keeps YTD container leasing rates elevated A YTD analysis of global container leasing transactions by Container xChange shows a notable uptick in average rates since the beginning of 2024, indicating an uptick in demand for container leasing services and an increased financial burden on lessors, pointing to a potentially tighter market. The study also highlights persistently strong container trade patterns between China and Russia, Taiwan
Diamond Line stocks up NET2 service Diamond Line, a feeder and short sea carrier, is expanding its NET2 service loop, initially established in 2017 using standard Panamax vessels. The NET2 service offers direct connections from ports in the United Kingdom and Northwest Europe to the southern regions of Turkey and Levant countries in the East Mediterranean, as well as to Adriatic and Black Sea countries through COSCO SHIPPING's hub
Hai Nakash: Expert in Tech Entrepreneurship and Digital Business Development The journey of Hai Nakash, the owner and founder of ZmiAlpha, who has gained a leading reputation in the fields of digital marketing, cybersecurity, fintech, and tech entrepreneurship, is a story of innovation, perseverance, and foresight. He was born into a family that ran a small local business, and from a young age, he understood the importance of adaptation and customer service. This basic kn
Global Ports publishes first quarter operational results Global Ports has announced its operational results for the first quarter of 2024, during which the Russian container market experienced a notable growth of 17.7%, reaching 1,293,000 TEUs. The Baltic basin witnessed a rapid recovery, with container throughput nearly doubling to 409,000 TEUs in Q1 2024. As a result, the Baltic basin's share in the total Russian market surged to 32% from 19% a year
Aboutships: How AI-ready is your maritime business? Commentators have been waxing lyrical about how AI is set to transform the maritime industry, and with good reason. Increasingly compelling use cases are emerging in applications such as route optimisation, safety of navigation, fuel efficiency, compliance, predictive maintenance, cargo management and many more. However amidst the hype and with businesses rushing to take AI ...
Ørsted taps Rovco for O&M work on two US offshore wind farms UK-based subsea technology and services firm Rovco has signed a framework agreement with Danish offshore wind giant Ørsted to provide operations and maintenance work on two of the developer's US wind farms. Under the agreement, Rovco will provide services on the Block Island Wind Farm and South Fork Wind Farm. Block Island, located off Rhode ...
PXGEO expands with Modus Subsea Services acquisition Peter Zickerman's marine seismic player PXGEO has expanded its subsea offering through the acquisition of UK-based Modus Subsea Services. Modus Subsea Services is a provider of offshore life-of-field support services specializing in autonomous subsea operations using underwater intervention drones (UID) based on the Saab Sabertooth platform. According to Modus' website, it is also the first ...
TEN offloads veteran aframax as fleet renewal presses ahead Greek owner Tsakos Energy Navigation (TEN) has confirmed the sale of an ageing aframax tanker as it continues its fleet renewal push. The New York-listed tanker and LNG carrier owner has offloaded the 2007 Sumitomo-built Izumo Princess for about $37m. The buyer was not named, but shipping databases show the 105,500 dwt vessel under ownership ...
Maersk sets sights on offshore wind logistics in South Korea Danish shipping and logistics group Maersk has partnered up with compatriot wind turbine maker Vestas to set up a nacelle factory and logistical base at the Mokpo New Port hinterland complex in South Korea. A memorandum of understanding, signed in the presence of the Governor of Jeonnam Province Kim Yung-rok and the Mayor of Mokpo ...
UK makes more funding available for AI and smart shipping UK Maritime Minister Lord Davies of Gower has announced an £8m ($9.85m) funding boost to kickstart feasibility studies for smart shipping technologies such as AI, robotics, and autonomous vessels. The Smart Shipping Acceleration Fund, launched today in Southampton could result in innovations which will boost the economy and support coastal communities. The winning projects for ...
Denmark kicks off its biggest offshore wind tender Denmark on Monday launched its biggest offshore wind tender to date, offering no subsidies to developers competing for the right to build wind farms on sites with a combined capacity of up to 10 GW. Six sites will be made available, making it possible to construct at least 6 GW in areas North Sea I, ...
Heerema lines up Polish wind farm deal Dutch offshore construction player Heerema Marine Contractors has signed reservation and preliminary work agreements to transport and install wind turbine foundations and an offshore substation for Polish offshore wind farms Baltyk II and Baltyk III. Polenergia, which together with Equinor is developing the wind farms of 720 MW each, said the agreements represent a commitment ...
Shipping hits out at scant coverage of hijacked crews The world's leading shipping associations have highlighted the inequality seafarers face as hostages. "The world would be outraged if four airliners were seized and held hostage with innocent souls onboard. Regrettably, there does not seem to be the same response or concern for the four commercial vessels and their crews being held hostage," states an ...
Technip Energies scores work on Marsa LNG bunkering project in Oman French-based engineering company Technip Energies has been awarded a contract by TotalEnergies and OQ for the Marsa LNG bunkering project in Sohar, Oman. The contract covers the engineering, procurement, and construction of a natural gas liquefaction train with an LNG production capacity of 1 mtpa. The plant will use electric-driven motors instead of conventional gas ...
Nexans awarded cable repair contract by Equinor French cabling specialist Nexans has secured a four-year contract from Norwegian energy giant Equinor for turnkey repair services of various cable systems. The deal includes assistance from a team of Nexans experts and the provision of a vessel to meet the intervention requirements. Equinor will manage and operate the contract on behalf of the Pipeline ...
Ciner bulks up with kamsarmax newbuilds at Hengli Shipbuilding Turkey's Ciner Shipping has added four kamsarmaxes to its large bulk carrier orderbook across Chinese shipyards. The Istanbul-based bulker and tanker player has contracted 82,000 dwt scrubber-fitted units at Hengli Shipbuilding in Dalian with deliveries starting from March 2027. Shipbuilding sources suggest a price tag of around $38m each. Ciner owns and operates a fleet ...
IMO highlights two fraudulent shipping registries Ahead of this week's meeting of its legal committee, the secretariat at the International Maritime Organization (IMO) has warned about two shipping registries it deems are fraudulent. Flags being administered allegedly on behalf of Guyana and Eswatini have come in for criticism. Despite the government of Guyana warning the IMO about the operation of what ...
World's first ammonia-fuelled aframaxes ordered AET, the tanker arm of Malaysia's top shipping line MISC, has placed an order for the world's first ammonia-powered aframax tankers. The 115,000 dwt vessels will be built at Dalian Shipbuilding, with delivery expected in 2027, under a charter with Petronas' Petco Trading Labuan Company Ltd (PTLCL). Financial terms have not been disclosed. The order ...
Third channel opens in Baltimore A third 6 m deep channel has been established through the downed bridge at Baltimore port providing limited access for commercially essential vessels with officials saying the three shallow channels should get the port back to 15% of pre-bridge collapse commercial activity. The aim is to get a deeper channel up and running by the ...
How US grain exporters worked their way around two blocked canals Dry bulk supply chains are proving highly resilient. US grain exports have been simultaneously repelled from the Panama and Suez...
US lawmakers pass new Iran sanctions bill A bill that calls for the imposition of sanctions on ports, vessels, shipping companies and refineries that knowingly process or...
'Alarming' rise in seafarer abandonment cases seen in 2024 Size and scale of problem seen escalating dramatically with numbers of cases already three times higher than four years ago
Ship detained in Russia timber sanctions probe leaves Rostock The general cargoship diverted to Rostock after a propeller malfunction and was held by German authorities investigating the cargo of...
The week in newbuildings: AET confirms order for first ammonia-fuel tankers MISC tanker operating subsidiary subsidiary AET orders first tankers capable of operating on ammonia at China's Dalian Shipbuilding Industry.
Data sharing offers scope for just-in-time arrivals Terminal scheduling planner Portchain has signed up ONE as its second top 10 carrier. Alignment between carriers and terminals can...
Iran defends MSC Aries hijack as 'technical issue' at IMO meeting More than 30 countries condemn Iran's seizure of containership on April 13 and deadly attacks on international shipping in the...
Asian shipping stocks rally on Middle East unrest From Shanghai to Hong Kong and then to Tokyo, shipping companies' stocks continued their upward trend from last Friday, following...
Week in charts: Where do Russia's blacklisted ships trade? | Gulf crisis not affecting container rates | No increase in Chinese or Russian ships transiting Bab el Mandeb Data reveals where Russian vessels are trading despite sanctions, plus analysis on how the current crisis in the Middle East...
The Lloyd's List Podcast: How to talk to Europe about shipping With the European elections looming there is a compelling argument for shipping to be far more central in the EU's...
Daily Briefing Russia's sanctioned ships continue trading unabated | Sanctions shuffle begins anew for Venezuela's tanker trades | Lloyd's List forum told...
Thai chemical company settles 'apparent violations' of Iran sanctions for $20m Ofac says SCG Plastics caused US financial institutions to unknowingly process $300m in sales of Iranian high-density polyethylene resin by...
More ex-Yellow LTL terminals reopen under new ownership amid capacity boost XPO, Estes and Saia are starting to reopen terminals they acquired from bankrupt Yellow, adding to LTL trucking capacity as they pursue new business.
Ocean carriers push Panama Canal to mitigate climate effect on water levels While ship transits have increased in the short term, the canal needs to start long-term planning for how to address low water levels, ocean carriers say.
Industry must prioritize service, labor and sell benefits to shareholders: CSX CEO CSX chief Joe Hinrichs, speaking at the Georgia International Trade Conference, backed the value of intermodal and labor, two things under attack in recent years from activist investors more concerned with competitive margins and other financial metrics.
Rising China-ECSA trade leads carriers to revamp services amid surging rates The burgeoning market opportunities have carrier Pacific International Lines to expand its presence in South America with the planned launch this year of eight country offices in the region.
Photo gallery: Shipping elite gather in the Big Apple for TradeWinds Shipowners Forum Panellists discuss navigating a volatile world and confronting the challenges of decarbonisation
Tsakos tanker sale confirmed as vessel emerges in fleet of low-profile Azeri manager New York-listed shipowner confirms sale of aframax as it adds $37m to coffers
John Wobensmith reflects on 'fight letters' with George Economou and fending off Houthi attacks in the Red Sea Genco executive talks volatility, black swans and proxy battles
Medical charity plans fleet expansion with third hospital ship Mercy Ships volunteers have performed more than 117,000 operations since the charity was founded in 1978
Delfin LNG denied license by US authorities after multiple changes to FLNG project US' Marad says thorough update of application required for fresh review
Russian state shipowner Sovcomflot reveals huge profit as western sanctions fuel rates Sanctioned Russian owner has never had it so good, despite operational challenges
Fednav sells ultramax as buyers continue to snap up Japanese tonnage Japanese ultramaxes have been flavour of the month
Video: Peter Dohle container ship and Turkish cargo vessel collide off Sicily Both ships are still in sailing condition but Italian coastguards remain on standby to intervene if rescue needed
Hansa Tankers nets solid price in second ship sale of 2024 Bergen operator attains $29m for handysize vessel with wide gap between valuations
Russian state shipowner Sovcomflot reveals huge profit as western sanctions fire rates Sanctioned Russian owner has never had it so good, despite operational challenges
Cleaves boss Per Olav Karlsen toasts turnaround at jointly owned US shipyard group Norwegian investment banker says US yard sector is proving an interesting bet
Angelopoulos brothers push fleet renewal with vintage suezmax sale Piraeus-based tanker player Arcadia Shipmanagement has already sold one-third of its existing fleet
India tells crew managers to keep local seafarers away from Red Sea hot spots Sixteen Indians remain held on the MSC Aries after it was snatched on 13 April
UK pumps $10m into research race to master maritime AI Smart Shipping Acceleration Fund to focus on tech for autonomous craft and smart ports
India tells crew managers to keep local seafarers away from Red Sea hotspots Sixteen Indians remain held on the MSC Aries after it was snatched on 13 April
Europe forges deeper role as maritime defender amid piracy fears Bloc looks to strengthen its role in regional maritime security
Shipping Corp of India hunts secondhand MR tanker Tanker to be acquired through tender process, the third tonnage tender launched by Indian shipping giant this year
Jean-Baptiste Choimet named GTT's new CEO, Berterottiere remains chairman After 15 years major LNG technology provider moves to change guard
Trader Mercuria breaks into VLCC ownership with debut newbuilding deal China's Shanghai Waigaoqiao Shipbuilding is constructing conventionally fuelled duo
'This year could be different': Clarksons Securities hikes VLCC rate forecasts Strength in 2025 will follow rises due this year on the back of Middle East unrest and rising Atlantic production
Sanctioned Russian shipyard Krasnoye Sormovo cuts loss in first quarter Revenue rises in first three months after big order win last year
Japanese shipowner Imoto Lines inks order for electric feeder container vessel Pilot project for boxship with replaceable electric batteries to see the light in 2027
Advantage Tankers clinches juicy newbuilding charters stretching into the 2030s Mercuria said to have fixed product carrier newbuilding pair on multi-year business, straight out of the yard
TotalEnergies greenlights new LNG plant and bunkering hub in Oman Long-planned LNG fuelling hub for Middle East will be solar-powered to cut emissions
More bark than bite: US puts squeeze on shipowners in Iranian trades Tougher sanctions regime proposed alongside huge Ukraine aid package
BHP shortlists shipyards and operators for new ammonia-fuelled bulkers Australian mining giant will order at least one green dry cargo ship for delivery in 2026
MOL Lines to install carbon capture technology on product tanker Value Maritime's CCS system should capture 10% of vessel's CO2 emissions, companies claim
Belships books two more ultramax newbuildings Norwegian bulker owner now has 10 ultramaxes under construction in Japan
Giant drillship ordered for $806m and never traded after 2017 launch heads for scrap Indian recyclers prepare for action as severe heatwave cripples demolition in Bangladesh
Fredriksen nominee Johansen hands in 'conditional' resignation letter to prevent Seaways treachery Director is expected to join in June but must stick to strict rules regarding 'Seatankers opposition event'
Thanassis Laskaridis ups newbuilding wager with deals worth $220m Bulker player Laskaridis Maritime reveals six additional kamsarmax orders at two shipyards
Suspicious boat stalks tanker in Arabian Sea close to floating armoury International Maritime Bureau says incident lasted 30 minutes but did not escalate
SFL reducing bond debt to $500m with call option for five-year series John Fredriksen company settling June bill early at slight premium
Oil spill fund names and shames late payers as it rewrites rules Nine countries have failed to file full returns to pollution compensation body for at least five years
Jean-Baptiste Choimet named GTT's new CEO, Berterottiere remains chairman After 15 years major LNG technology provider moves to change guard
Carnival slashes interest rate costs with $800m loan facility prepayments World's largest cruise liner refinanced secured loans and unsecured bond
GTT orderbook approaches record levels as LNG newbuildings roll in Incoming CEO Jean-Baptiste Choimet's knowledge of the LNG, shipping, hydrogen and new energies impressed selection board
Singapore's Pacific International Lines sees 2023 profit slump by 90% Liner company confirms its ships have been using the Red Sea to serve the regional market
Wilmar vegetable oil plant hit by missile in Ukrainian port Reconstruction work for damaged oil plants will take six months, Singapore-based agribusiness group estimates
Shipping Corp of India on hunt for second-hand MR tanker Tanker to be acquired through tender process, the third tonnage tender launched by Indian shipping giant this year
China shipbuilding probe unlikely to benefit South Korean yards, says Nomura Bank says it may prove challenging to directly regulate China's shipbuilding industry
Geopolitical tensions and transformative forces headline Singapore maritime talks Industry stakeholders claim decarbonisation trumps disruption and digitalisation at Moore Stephens-BNP Paribas shipping forum
China e-commerce exports, unreliable Red Sea shipping boost air cargo The air cargo sector grew more than 10% during the first quarter on the back of e-commerce exports from China and supply chain disruptions in the Red Sea.
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