First steel cut for Australia's Hunter Class frigates Australia's Hunter Class frigate program, which local media invariably describe as "the troubled Hunter Class frigate program," looks to be back on some sort of track. BAE Systems was first contracted to
VIDEO: Some Dali crew members set to go home Baltimore media, including WBAL TV, report that eight members of the crew of the containership Dali are set to return to their homes in India and Sri Lanka. The way for their
Hong Kong takes delivery of first of two new emergency response vessels China's AFAI Southern Shipyard has delivered the first of two new, Incat Crowther designed, emergency response vessels for the Hong Kong Fire Services Department. The two state-of-the-art next-generation vessels will replace the
Bunker indices continue upward trajectory In the 25th week of the year, the Marine Bunker Exchange (MABUX) global bunker indices continued their upward trajectory. The 380 HSFO index increased by US$5.90, rising to US$550.15/MT, the VLSFO index jumped by US$3.62, reaching US$638.67/MT, and the MGO index experienced the most significant growth, rising by US$12.79 to US$838.55/MT. "As of the current update, the global bunker market maintai
US Congressional provision wary over China's dominance in container production passes US congressional lawmakers continue to ramp up efforts to scrutinize the nation's use of shipping containers produced by China, with US House Representative and South Dakota Republican Dusty Johnson including a provision in the latest defense bill calling for Congress to study China's "monopoly of shipping container production." With the US House of Representatives passing the annual defense bill
APM Terminals Lazaro Cardenas welcomes Hapag-Lloyd's EC2 service Last week, APM Terminals Lazaro Cardenas in Mexico welcomed the first call of Hapag-Lloyd's East Coast 2 (EC2) service, marked by the arrival of the UMM SALAL. This vessel carried cargo intended for North American importers, benefiting from Lazaro Cardenas' strategic location and capacity, bolstered by nearshoring trends and the United States-Mexico-Canada Agreement (USMCA). The EC2 service featu
MSC introduces new standalone service connecting Asia and South East India MSC has announced the launch of its new weekly service, Osprey, between Asia and South East India. The Osprey service will offer a direct route and improve transit times between the Asian and South East Indian markets, opening opportunities for importers and exporters in the region and providing increased connectivity between these important trade hubs. MSC enhances the Asia-India service network
CMA CGM launches new Türkiye-Egypt-Lebanon service CMA CGM - Short Sea Lines Division announced the launch of its EMED 1 service starting in the 28th week of the year. This new route will provide coverage for the Turkish port of Antalya, with global connections in Alexandria, Egypt, and Beirut, Lebanon. The French ocean carrier will deploy one vessel with a nominal capacity of 1,100 TEUs and the service's port rotation will be Antalya - Alexandri
India's Mundra Port battles congestion amid growing box volumes Indian importers and exporters are dealing with considerable cargo delays at Mundra Port, which leads the country's containerised trade. Local trade sources have raised serious concerns over the congestion plaguing Mundra's container terminals over the past few weeks. "The terminals at Mundra now seem to be hugely congested and the pendency (backlog) has increased to levels, which is affecting no
Panama Canal increases draft and daily transits The Panama Canal has announced that it will increase the number of daily transits from 32 to 33, starting 11 July. This number will further rise to 34 as of 22 July, in response to the current and projected water levels of Gatun Lake over the coming weeks, and the onset of the rainy season in the Panama Canal Watershed. With these gradual increases, by 22 July the Canal will have added two transi
CMA CGM to reshuffle EURONAF & TMX 2 services CMA CGM - Short Sea Lines Division announced the reshuffling of its EURONAF and TMX 2 services starting from the 26th week of the year. These service adjustments are designed to align with the revised routing and volumes from mainliners in response to the Suez situation/Good Hope transit, according to the French ocean carrier's statement. EURONAF services will continue to focus on the Algerian ma
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ONE vessel launches new Savannah-India connection ONE Modern, the inaugural ship on Ocean Network Express' West India North America (WIN) service, docked at the Port of Savannah on 18 June, creating a new link between India and Georgia Ports. "This new offering from ONE is a recognition of India's growing role as a manufacturing hub. As the world's most populous country, with a growing consumer class and significant infrastructure investment, In
Brands multiply in red-hot liner sector With spot rates at all-time highs - bar the covid era - a host of opportunistic companies are rushing out liner offerings. Similar to the pandemic period, many regional lines have entered the main east-west trades, while new names in container shipping are also emerging. In South Korea, for instance, PanStar, a ferry operator, has ...
Damen Mangalia insolvency proceedings get underway Insolvency proceedings are underway in Romania involving one of Europe's largest shipbuilding facilities. A tribunal in Constanta has given an early August deadline for claims to be submitted against Damen Mangalia, a shipyard that was formerly run by Daewoo Shipbuilding & Marine Engineering (DSME). Dutch shipbuilder Damen filed a bankruptcy request against the joint venture ...
Dali crew allowed to fly back home Having been stuck on a ship at the centre of a media storm for months on end the stressed crew of the Dali containership have finally been allowed to head home to Asia. Investigators in the US had barred the workers on the boxship from disembarking since March 26 when it was involved in this ...
EU cracks down on Russian LNG shipments Cracking down on LNG shipments as well as around a dozen of the so-called shadow tanker fleet form elements of the 14th package of sanctions against Russia that the European Union is introducing. The new package targets Russia's shadow fleet of tankers, and transhipments of liquefied natural gas to third countries. The measures will now ...
Oceaneering scores $50m deal in Gulf of Mexico Houston-based Oceaneering International has won a contract for the supply of umbilicals worth $50m with an undisclosed domestic independent energy company. The contract was secured by Oceaneering's manufactured products segment. Under the contract, the company will supply an electro-hydraulic, steel tube dynamic umbilical totalling approximately 27 km in length for a project in the Gulf ...
Grindrod chosen to develop box facility at Richards Bay Grindrod has been awarded a contract by Transnet National Ports Authority (TNPA) to develop and operate a container terminal at Richards Bay, South Africa's premier coal export facility. The aim is to increase Richards Bay's annual container handling capabilities from 50,000 to 200,000 teu. South Africa is pressing ahead with a long-awaited port privatisation programme ...
Emanuele Grimaldi gets another two-year term at the International Chamber of Shipping Emanuele Grimaldi has been unanimously re-elected for another two years as chairman of the International Chamber of Shipping (ICS), the global lobby group for shipowners. "We have made good stead with our proposals to help meet the International Maritime Organization's net zero targets by or around 2050 and continue to work with UN bodies on ...
Further manager mergers on the cards Manish Singh from AboutShips casts his eye over the fast-changing shipmanagement sector. Writing for Splash last year I anticipated significant and imminent consolidation within the shipmanagement sector, with 2024 being a year wherein several new partnerships would be forged, and industry market maps re-drawn. The period since that article has already proven to be eventful ...
Okeanis Eco Tankers secures $31m loan for suezmax re-purchase option Greek owner Okeanis Eco Tankers has entered into a new $31.11m senior secured credit facility to finance the option to purchase back the 157,540 dwt vessel Poliegos from its current sale and leaseback financier Bank SinoPac. The transaction for the loan is expected to close in July 2024. The sale and leaseback facility contains an ...
US imports accelerate, but inland transport lags: CSCMP US importers are pulling forward orders to avoid potential congestion, but trucking and intermodal networks are still slack, speakers said at the launch of CSCMP's State of Logistics report.
New Orleans pins breakbulk turnaround on container spillover Despite sliding breakbulk volumes during the first five months of the year, there are signs that spillover cargo may reappear at the Port of New Orleans thanks to the disrupted global market.
Port congestion in Asia easing, shifting to India: ocean carriers, forwarders Cargo flow is improving through Singapore and major Chinese ports, but India's largest container gateway, Mundra, is straining under rising transshipment volumes, ocean carriers and forwarders say.
Container capacity sucking Red Sea diversions may be status quo Houthi rebels have little incentive to stop attacks even if there is a Gaza-Israel ceasefire, there's no US appetite to root them out, and a political solution is highly unlikely, argue geopolitical analysts.
New Orlean pins breakbulk turnaround on container spillover Despite sliding breakbulk volumes during the first five months of the year, there are signs that spillover cargo may reappear at the Port of New Orleans thanks to the disrupted global market.
EU 'giving up' on 2030 rail freight target: industry groups Meeting the European Union emissions reduction targets for transportation will require a significant modal shift in freight from road to the rails over the next few years, but that is being undermined by EU regulations, according to industry groups.
Give us more ships, says EU Red Sea naval chief Head of mission says that he needs more than the current four frigates to protect commercial shipping
'Very profitable': d'Amico International Shipping commits product tanker to three-year charter Italian owner signs over modern MR vessel to unnamed charterer
LNG charter rates perk up on fresh activity Ships are being drawn east leaving charterers hunting for Atlantic tonnage
Charterers 'courageous, being a bit naked in front of everyone else' on emissions Sea Cargo Charter members succeed with unique charterparty clauses forcing shipowners to submit voyage emission data
Ukrferry restarting ropax run from Ukraine to Georgia Resumption of service marks the first link between the two countries since the Russian invasion
Heidmar merger prompts law firm 'investigation' as takeover target MGO's stock price soars Milwaukee's Ademi releases statement saying it is examining the conduct of Nasdaq-listed MGO's board
Owners sign off on sub-$10,000 per day VLCC rates as cargoes and offers dwindle Three ships were fixed at four-figure day rates this week, with brokers noting market slowdown
Will Aliko Dangote change tanker market again with new Caribbean terminal? Nigerian tycoon to follow domestic refinery debut with another project further afield
Danske Bank names former Clarksons partner head of investment banking for Norway Peter Lovaas will join in Oslo in September
EU ban on LNG transshipments tipped to create fresh transfer hotspots Industry awaiting full details on latest round of sanctions agreed by trading bloc
VLCCs slowing down as spot rates plunge 50%, Signal Group says Greek platform believes move may be response to weakening market conditions in the summer
TMI wins near-unanimous approval to take full control of Grindrod Shipping Independent shareholders clear the way for cancellation of all shares except those owned by parent company
Nakanishi breaks new ground with Alassia/Itochu handy newbuild order Japanese shipyard's Chinese outfit gets debut order for 40,000-dwt newbuilding from Greek-Japanese partnership
More deaths in the Red Sea, V.Group sold again, the growing influence of the Sea Cargo Charter As shipping gets ready to celebrate International Day of the Seafarer, we keep our eyes on the Red Sea attacks
Yvonne Hoglund joins father and siblings at tanker owner Furetank Swedish executive becomes human resources director at expanding owner
Okeanis buys back tanker from Ocean Yield and refinances with Taiwanese Bank SinoPac US-listed Alafouzos company hails debut transaction with Taiwanese lender to 'diversify its financing options'
Clarksons Project Finance closes deals worth more than $350m as foreign shipowners tap Norwegian syndicate market Firm has positive outlook for chemical tankers, feeder containers and offshore
Danish shipping breathes sigh of relief as seafarer tax exemption renewed Industry had warned of catastrophic consequences if tax break had been scrapped by government
Wison New Energies ends Russian business as it inks deal on FLNG job Company to build LNG floater for Genting to be deployed to West Papua, Indonesia
Viking inks new 'large' order at Fincantieri for two cruise ships Post-Covid recovery spawns extra newbuilding deal between Norwegian cruise line and Italian shipyard
Vroon posts loss after banks move in but equity turns positive Dutch shipowner 'substantially' improves financial position after huge refinancing deal
Indian seafarers turn to ship arrests to settle injury compensation claims Torm is the latest shipowner to face the wrath of an aggrieved seafarer in an Indian courtroom
Angeliki Frangou-led Navios tied to container ship newbuilding orders in South Korea The contract breaks a year-long order drought at HJ Shipbuilding
Cleaves hikes tanker forecasts as it models Red Sea disruption into 2025 Investment bank predicts higher rates and asset values this year and next
Danish Ship Finance loan book grows to $4.7bn as it sees net profit at high end of guidance Lender says robust credit quality has been maintained
Bergen-born deal-maker looking to drive stronger results at Western Bulk Incoming CEO 'can't wait to get started' in the top job at bulker operator
Precious sheds veteran handysize as fleet overhaul continues Thai bulker owner takes asset disposals to three this year with latest vessel sale
'Historic' market: Veson tracks doubling of chemical tanker values over five years Analysts say high prices for secondhand ships are here to stay
Overseas shipping problems remain largely under consumers' radar While logistics problems from the Red Sea have become white noise, it is important not to forget that lives have been lost.
Revised Amazon deal to boost Sun Country's cargo profits Sun Country Airline will see improved economics from its amended contract for outsourced air transportation to Amazon, executives said.
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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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