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MAY 24, 2024

PSA Mumbai announces commencement of highly awaited Southeast Asia Service Sharp rise in ocean container spot rates impacting market Availability of anchorages at Mumbai Port during monsoon period 2024 Mac-Nels celebrates 25 successful years CMA CGM PSS from Indian Subcontinent, Middle East Gulf, Red Sea & Egypt to US East Coast & US Gulf Transindia Real Estate reports FY24 earnings Panama Canal returning to normal GDP seen growing at 7.5 pc in Q1 VOC Port making its presence felt in coastal movement India to operate terminal at Mongla port in B'desh Nagapattinam-Jaffna ferry service delayed India mulls SOPs for negotiating FTAs Exporters' amnesty scheme netted INR 852 cr. Steel output dips India's oil needs seen up 4 pc in 2025, says OPEC Deendayal Port achieves landmark with loading of first indigenous freight wagons Avg. minimum transit time up 39% on Asia-MED

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MAY 24, 2024

In the market for the long haul Rail delivers cars made in Mexico A new acting president & CEO for Port Nola And the winners are ... CJC picks transactional director in Singapore 40 t e-trucks for the middle mile Tarros contracts representative in Switzerland Trio acquires UK software provider AA Cargo enhances online booking offerings LOG4NRW gets off to a good start Nine passengers and cargo simultaneously A freight emissions calculator Global ship losses fall to record low Dead butterflies from Portugal "Curiosity of the Day" Albatros Express adds more departures A promotion for David Evans Customs handling on the UK border post-Brexit Partners for hybrid ferry conversion

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MAY 23, 2024

Sea-air 'barely viable' as port congestion hits Wan Hai warns of battle for boxes as peak season starts early Canadian shippers await government decision as negotiations derail Analysis: EV truck truths - charging ahead ONE quits Indamex network to offer standalone India-US east coast service A$100 WiseTech - AI: the next earnings booster Mexico needs investment to cope with nearshoring boom Boeing pitches Bangladesh with 'cheaper' freighter offer BMW supply chain under threat after US investigates forced labour claims New government urged to review Brexit strategy as UK border issues continue APM Terminals appoints Christian Roeder to manage Poti terminal Deutsche Bahn gathers Schenker bids

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MAY 23, 2024

First of 7 new Parramatta Class ferries now in service in Sydney The first of seven new 200-passenger Parramatta Class ferries is now in service in Sydney, New South Wales. The fleet of new Incat Crowther designed ferries, which will service the busy Parramatta Damen develops a future-ready fuel flexible tug With regulatory pressures mounting, operators of all types of vessels, including tugs, are assessing all the alternative fuel technology options. Releasing details of a new fuel flexible tug design, Damen, one of Whistleblowers could collect $500K in tanker pollution case Two whistleblower crewmembers could be awarded up to $500,000, if a plea deal filed in New Orleans federal court yesterday is approved by the court. Two related companies that operated the motor Kelly Teichman elected new AWO chairman of the board The members of the American Waterways Operators elected a new slate of leaders last week during the association's Spring Convention and Annual Membership Meeting. Kelly Teichman, executive chairman, T&T Marine, was elected

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MAY 23, 2024

Prologis and Maersk open largest heavy-duty EV charging depot in California In a significant advancement for California's clean transportation infrastructure, Prologis, a global leader in logistics real estate and Performance Team - A Maersk Company, announced the launch of Southern California's largest heavy-duty electric vehicle (EV) charging depot. Located near the Ports of Los Angeles and Long Beach, this facility is powered by the nation's largest EV truck microgrid Port of Yokohama handles nearly 240,000 TEUs in February In February, the Port of Yokohama handled 239,633 TEUs of containers, a 6.2% increase from the previous year, according to the city of Yokohama's Port and Harbor Bureau. According to the Japan International Freight Forwarders Association, Inc. (JIFFA), foreign-trade containers made up 215,392 TEUs, an 8% rise. Exports slightly decreased by 0.5% to 112,709 TEUs, while imports surged by 19.1% to 10 MSC reinstates Far East - Baltimore service After the tragic incident at the Francis Scott Key Bridge on 26 March 2024, MSC announced the reinstatement of MSC's Far East - Baltimore service on the firm's Empire Service. Starting from the YM TRUST voyage number 422E, scheduled to call Yantian on 28 May 2024, with an ETA in Baltimore on 13 July 2024. The rotation will return to: Yantian, China - Xiamen, China - Ningbo, China - Shanghai, Chin Peak in China's coal demand in sight as renewables jump 12% Between January and April 2024, China's electricity generation from renewables surged 12% y/y, significantly outpacing the 6% growth in generation from fossil fuels. "While steam coal shipments to China rose 29% y/y, they are starting to feel the pressure from stronger renewables. Between March and April, the shipments fell 7% y/y as electricity generation from fossil fuels only rose 1% y/y," sta HMM's methanol-powered ships to ply world's first green shipping route South Korea is pursuing an ambitious project to launch the world's first green shipping route. And 9,000 TEU methanol-fueled container ships being built by the country's flagship carrier HMM is expected to play a leading role in establishing green shipping routes. Speaking at a recent seminar, Ministry of Oceans and Fisheries' secretary of maritime industry technology, Lee Chi-kyung, stated, "Wit CMA CGM announces ESS from the Middle East Gulf to worldwide CMA CGM has announced an Emergency Space Surcharge (ESS/FRT59) effective from 5 June 2024, until further notice, applicable for shipments originating from the Middle East Gulf to North Europe (including Scandinavia, Baltic States, and Poland), the Mediterranean, and North Africa. This surcharge applies to Dry, OOG, and Paying empties cargo types, with a fee of US$250 per container. If you liked t APM Terminals Poti appoints new managing director Christian Roeder will succeed Julián Fernández as the managing director of APM Terminals Poti, Georgia, effective 6 June 2024. He will also join the company's European Regional Leadership Team. Mr. Roeder began his career with the Maersk Group in 2000 as a MISE Trainee. From 2003 to 2011, he worked for Maersk in various countries. Notably, he served as managing director of Maersk Georgia from 200 MABUX global bunker indices show irregular changes In Week 21, the MABUX global bunker indices exhibited irregular changes with no clear trend. The 380 HSFO index saw a minor decrease of US$0.13 to US$544.13/MT. The VLSFO index declined by US$2.53 to US$654.27/MT. Conversely, the MGO index increased by US$3.63 to US$842.18/MT. "At the time of writing, a steady downward trend was observed in the global bunker market," stated a MABUX official. The

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MAY 23, 2024

MPP boarded off Somalia A multipurpose vessel has been boarded some 401 nautical miles (742km) southeast of Mogadishu, Somalia. The United Kingdom Maritime Trade Operations (UKMTO) and British maritime security firm Ambrey corroborated that an unknown number of unauthorised people used two small boats to board the Liberia-flagged vessel. "The vessel was observed sailing with a northeasterly heading at ... Cyan Renewables teams with Ocean Infinity for Asia Pacific offshore wind projects Singapore-based offshore wind vessel player Cyan Renewables and offshore robotic ship operator Ocean Infinity have joined forces to provide services for offshore wind projects in the Asia Pacific region. The companies have signed a memorandum of understanding formalising their commitment to work together on delivering geophysical and geotechnical surveys, as well as remotely operated vehicle ... Cadeler inks vessel reservation deal worth up to $760m Denmark-based offshore wind installation vessel player Cadeler has won an installation vessel reservation agreement with an undisclosed client for upcoming wind farm installation projects. If all options are exercised during the four-year agreement, the company claimed that the agreement would represent the largest deal in Cadeler's history with a potential value of the projects to ... Ships in near miss with missile attacks off Yemen Two unidentified merchant vessels have reported an attack off Yemen. Maritime security consultancy Ambrey said it received a report that a ship was suspiciously approached 68 nautical miles southwest of Yemen's port city of Hodeidah and had undergone what it described as a "missile attack." Another unnamed ship reported an incident some 33 nautical miles ... Cargo sailing ship capsizes off Bahamas, two crew missing One of the sail transport vessels of the early champion of sail-powered cargo shipping, Blue Schooner Company, has capsized and sank south of the Bahamas archipelago. The United States Coast Guard informed the company that the schooner De Gallant capsized at 3.30 am on Tuesday and sank half an hour later. So far, very sudden ... Brussels and Washington seek ways to rely less on Chinese shipbuilding output In Brussels and Washington, debate is ongoing about how best to revive shipbuilding as fears grow about the dominant position China has in the sector. The People's Republic now commands more than 50% of the global merchant ship orderbook, while its naval shipbuilding output dwarfs any other nation. The Maritime Advantage Results in National Economic ... Borr Drilling racks up more work for two rigs The Oslo and New York-listed offshore driller Borr Drilling has revealed several new deals in the company's latest fleet status report. The rig owner previously secured a two-month contract extension from BW Energy for the 2011-built premium rig Norve in Gabon, keeping the unit utilised through July 2024. The company now revealed that the jackup ... Hunter Group reveals offshore wind play Norway's Hunter Group has set its sights on the burgeoning offshore wind sector. The Oslo-listed investment firm, which late last year returned to the tanker business, said Thursday it had secured a NOK100m ($9,4m) grant from Norwegian government enterprise Enova for the potential construction of two next-generation commissioning service operation vessels (CSOVs). The potential project ... Rovco wins survey work on 1.5GW Outer Dowsing offshore wind farm Subsea technology and services firm Rovco has been selected for site characterisation work on the Outer Dowsing offshore wind project in the UK's Southern North Sea. The project is a joint venture between TotalEnergies, Corio Generation, and Gulf Energy Development. Outer Dowsing will have a planned installed capacity of 1.5GW and be one of the ... Gabon and Eswatini registers added to ITF's flags of convenience list Two shipping registries that have been making plenty of Splash headlines this year have been added to the list of flags of convenience (FOC) tallied by the International Transport Workers' Federation (ITF). Gabon and Eswatini - both flags strongly associated with so-called dark fleet transportation - have been added to the ITF's list. "It's a ... Elemental Energies wins orphan wells decom deal in Gulf of Mexico Well specialist Elemental Energies has won a master services contract from late-life oil and gas operator Promethean Energy to support decommissioning of nine orphaned wells in the Gulf of Mexico. The first phase started in February with Elemental Energies providing well management services from its Houston office for well plugging and abandonment in the Matagorda ... Russia's first Pacific LPG terminal to open next year with financing from China In its great energy pivot eastwards, Russia is set to open its first liquefied petroleum gas (LPG) terminal on the Pacific Ocean coast with joint investments from China by the end of 2025. Last week during Russian president Vladimir Putin's visit to Beijing, Russian Direct Investment Fund (RDIF) sealed a deal with Chinese petrochemical company Haiwei ... Green corridors linking Ireland and UK under development NatPower Marine and Peel Ports Group have announced plans to establish the first green shipping corridors between Ireland and the UK. The proposed project would see NatPower Marine, part of the UK's NatPower Group, develop the UK's first commercial electric ship charging network to support electric propulsion and cold ironing, as part of a global ...

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MAY 23, 2024

Did shipping learn its leverage lesson or is debt drop due to decarbonisation? Larger listed owners like Star Bulk are slashing their debt. If costly decarbonisation rules are enacted in the future, the... Digital twins and 3D models of ships could improve energy efficiency The project brings together major Japanese maritime companies such as ClassNK and Imabari Shipbuilding to share data more easily Braemar hails 'reassuringly solid' results Chief executive Gundy highlights growing market share and strong performance by US and Spanish acquisitions Shipping 'heading in the right direction' on ESG, says Grimaldi First international ESG Shipping Awards underlines industry's progress on aspects such as diversity, equity and inclusion, say organisers MPV boarded off Somalia in suspected hijacking The Liberia-flagged Basilisk was en route to Abu Dhabi from Rotterdam and came under attack just over 400 nautical miles off... Aframax exports first crude cargo from Vancouver's newly expanded Trans Mountain pipeline Marshall Islands-flagged Dubai Angel is carrying the first cargo from the recently expanded Trans Mountain pipeline in Vancouver, vessel-tracking data... It's been a hull of a ride for Hellenic Hellenic Hull has a unique record as a Greek underwriter and has contributed to establishing Greek shipping's reputation as a... Greece-owned merchant fleet adapts to changing tides Chinese business gains momentum while Russian trade loses lustre Neptune's steep ascent Chief executive Harris Antoniou says ship leasing has already become a mainstream form of finance and can only continue growing Focus on renewables puts peak coal in sight for China China is developing enough renewable energy to replace its coal-fired electricity stations. Imports of steam coal are forecast to fall Greek banks continue their rise Four of the five biggest lenders to Greek shipping are now home-based banks as international institutions struggle to sate their... MOL and Jera ink seventh LNG carrier charter deal Jera aims for LNG transaction volume exceeding 35m tonnes by 2035 Poseidon Principles for Marine Insurance formally adopts net zero target Patrizia Kern-Ferretti re-elected as chair of the Poseidon Principles for Marine Insurance Association Greek bulk carrier reports near-miss in Red Sea The latest attack in the Red Sea follows reports by US Central Command that its forces shot down drones in... 'Dead' dark fleet tanker Pablo seen resurrected in Russia as AIS manipulation tactics escalate Rising number of dead ships are appearing to return to life when their MMSI number is broadcast, reflecting an increase... Star Bulk 'optimistic' on dry bulk prospects as it integrates Eagle Bulk fleet Fresh crop of sales brings total proceeds from disposal of 'older and less fuel-efficient' vessels to nearly $480m in just... Daily Briefing Iran claims sanctioned satellite services are jeopardising shipping safety | Secret safety deals and fake certification scams | Bull run...

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MAY 23, 2024

Prince Rupert export infrastructure project secures Canadian government loan The Port of Prince Rupert is receiving a C$150 million loan to help finance development of an export logistics hub at which agricultural and forestry products will be transloaded into marine containers for export. Heavy-haul sector urged to participate in creation of multimodal freight network map The US DOT's latest iteration of a national multimodal freight network map presents an opportunity to pinpoint vital routes and address concerns specific to out-of-gauge and heavy-haul road transport. 'Crunch time' for regulators as shipping seeks clarity on net-zero ambitions The scale of the investment required by companies across the maritime value chain in the transition from fossil fuels to green energy will need to be underpinned by clear global regulations, according to shipping executives. Rail, truck container dwells in LA-LB slide as early peak season approaches While the lower dwells are promising, some trucking and logistics executives say terminal operators in Los Angeles and Long Beach have not yet fully adjusted to the rise in import volumes, especially considering projections for an early start to peak shipping season.

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MAY 23, 2024

Houthi missile targets Greek ship on heels of suspicious approach Attack on Eastmed bulker follows US shooting down four drones over Houthi-held territory on Wednesday Ifchor Galbraiths opens presence in Canada with Vancouver office Broker from dry chartering team listed at new office in busy port city Fears over LNG 'dark fleet' rising, Flex boss warns Company has bid on secondhand tonnage, but for now is content to market own vessels Heavylift ship sold at auction linked to Iranian front company Disputed vessel Sevgi sells for $16.2m at auction in South Africa Euroseas profit drops in the first quarter on higher dry dock costs US-listed container ship owner locks in robust charter rates for new vessels joining its fleet Fears over LNG 'dark feet' rising, Flex boss warns Company has bid on secondhand tonnage, but for now is content to market own vessels Crew flee to citadel as pirates board German-managed ship Crew believed to have taken refuge to the citadel after 'unauthorised persons' boarded merchant vessel off Somalia Braemar gives up on disputed $1m loan to former Indian staffer London broker says little prospect of getting money back through courts German-managed ship attacked in suspected Somali piracy raid Crew believed to have taken refuge to the citadel after 'unauthorised persons' boarded merchant vessel off Somalia Suspected Somali pirate attack after ship boarded in Indian Ocean 'Unauthorised persons' boarded merchant vessel off Somalia Cadeler lines up biggest-ever vessel charter deal worth up to €700m BW-backed owner coy on client details as it reserves one or more ships Belships boss defends Oslo Stock Exchange as shipowners set sail to New York Belships head makes case for Norway as owners shun Oslo exchange for New York $5.4bn profit in three months: Red Sea crisis pushes container shipping back into the black Liner shipping sector bounces back to log a $5.4bn profit in first quarter Wages down at Braemar as broker numbers rise and dry cargo bonuses fall Finance boss Grant Foley outlines a very different 12 months for broker's big two desks US shipping investor Oaktree joins football party as new owner of Inter Milan Shipping investor took control this week after Chinese owner defaulted on $428m loan Fresh blood: Braemar boss James Gundy puts trust in 'hungry' new generation CEO says next wave of brokers is just as important as acquisitions Proman Stena Bulk dual-fuel tanker claims bunkering landmark at Singapore naming First vessel in Proman Stena Bulk fleet to carry out methanol bunkering in the city state Goldman Sachs swoops for Gram Car Carriers shares as Gianluigi Aponte takeover unfolds Bank's investment comes with the shipowner heading for private control Hunter plots move into offshore wind with CSOV newbuilds backed by state cash Norwegian group diversifies into 'virtually' zero-emission ships Columbia Shipmanagement boosts Middle East presence with new office in 'dynamic maritime centre' Dubai Schoeller-owned company targets more regional business with new office in shipping hub Houthi missile targets ship on heels of suspicious approach Attack follows US shooting down four drones over Houthi-held territory on Wednesday Hoegh LNG in 'active dialogue' on new FSRU business Spot trading LNG carrier conversion candidate due to end hire in August Himalaya Shipping books a profit ahead of last newcastlemax bulker deliveries Bulker owner is positioned for an upturn in the freight market later this year Houthi-style 'grey zone' warfare spooks global business Low-cost attacks on shipping by Iran-backed group have cost major economies billions Awilco LNG prepares to fix redelivering vessel in weak short-term market Company aims to close ship refinancing this quarter in bid to cut costs and cash break-even level Lars Peder Solstad sells $9m chunk of Solstad Offshore stock to pay tax bill Norwegian shipowner's CEO also wants to take part in rights issue of new company Solstad Maritime Star Bulk profit soars on the back of 'counter-seasonal' first quarter US-listed bulker behemoth confirms further ship sales, boosting the number of divested vessels to 20 Heavy-lift ship sold at auction linked to Iranian front company Disputed vessel Sevgi sells for $16.2m at auction held in South Africa Braemar on acquisition trail in 'fragmented' shipbroking market as profit holds up Chief executive James Gundy says expansion will boost resilience of London-headquartered shop Flex LNG ups time-charter coverage as spot market wallows Company opts to fix out redelivering vessel through into 2025 as newbuildings flood market Dee4 Capital moves on from last ship with nice profit on product tanker Vietnamese-built ship sold for $41m as secondhand prices continue to firm KNOT Offshore Partners not worried by growing shuttle tanker orderbook Brazilian market continues to tighten, but demand in the North Sea has remained subdued Eyebrows raised by strong prices as Asian buyers swoop for ageing LNG carriers Dubai-based vintage tonnage deals prompt questions Stephenson Harwood unifies shipping, trade and offshore practices under Dora Mace-Kokota UK-headquartered law firm brings together 56 partners and 97 lawyers across the world Heavy-lift MPP vessel accused of being of owned by Iranian front company sold at auction Disputed vessel Sevgi sells for $16.2m at auction held in South Africa Stena Bulk charters Hammonia suezmax for up to five years Brokers say deal follows a trend of increased focus on longer time charters Cosco plots colossal $4.5bn order for 120 newbuildings Fleet renewal plans emerge as China giant responds to 'structural undersupply of tonnage'

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MAY 23, 2024

DHL Express ends capacity agreement with Mesa Airlines Mesa Airlines has stopped flying for DHL Express, citing low cargo demand. DHL launches virtual cargo airline for supply chain customers in Brazil DHL's supply chain unit has invested nearly $100 million to set up an air line haul operation with the help of a local airline that will support logistics customers in Brazil.