Maersk sees Red Sea routings as still too risky Maersk is to continue to avoid Red Sea routings of it its ships. In an update today, it said that it would continue to send ships via the Cape of Good Hope
16 states file suit challenging pause on LNG export permits Led by Louisiana General Attorney General Liz Murrill, the attorneys general of 16 states have filed suit in the U.S. District Court for the Southern District of Louisiana challenging the pause on
BAE and ASC Pty Ltd selected to build SSN-AUKUS submarines In what is scarcely a surprising move, the Australian Government has selected BAE Systems and ASC Pty Ltd to build Australia's new fleet of SSN-AUKUS nuclear powered attack submarines. In the latest
Survitec study reveals methanol firefighting flaws A recent fire safety study conducted by Survitec, a provider of Survival Technology solutions, has uncovered shortcomings in traditional firefighting techniques for combating methanol-based fires on conventional vessels. The study, which included extensive fire tests on dual-fuel marine engines using both diesel oil (DO) and methanol, comes amid increasing interest in methanol as a viable alterna
HHLA sees revenue and earnings decrease German port and terminal operator Hamburger Hafen und Logistik AG (HHLA) recorded a drop in revenue and earnings in the 2023 financial year. HHLA said the ongoing war in Ukraine, geopolitical tensions, high inflation and interest rate hikes burdened the economy and continued to dampen the recovery from the pandemic. The company's revenue decreased by 8.3% to €1.45 billion and the operating result
Port of Oakland imports and exports continue to grow Container volume at the Port of Oakland surged in February, surpassing the volume recorded in the same month last year. Imports experienced a significant increase for the fourth consecutive month, rising by 32.1% to 76,734 TEUs compared to 58,073 TEUs in February 2023. This growth was fueled by robust consumer spending in Northern California, according to the port's announcement. Meanwhile, expor
We Asked AI: Submarine Container Ship Transportation and shipping companies are continuously exploring innovative methods to reduce costs and expenses and enhance operational efficiency. Given the current movement of cargo via ocean, air, rail and road, we are curious about what lies ahead. Hence, we asked an Artificial Intelligence (AI) system to generate an illustration of a submarine container vessel. Click into the gallery to app
Maersk opens new warehouse facility in Mexico Maersk recently inaugurated a new 30,000m² facility in Tijuana, Mexico targeting cross-border trade and serving customers in the technology, automotive, retail, and lifestyle sectors. Positioned strategically in Prisma XII, Pacifico Industrial Park, Baja California, the site capitalizes on Tijuana's significance in the US-Mexico trade. Benefiting from its proximity to major commercial ports like
Finnish Transport Workers' Union to extend strike into third week AKT stevedores, transport workers union in Finland, and some other port-related worker groups will continue their political strikes from 25 March to 1 April. The ongoing strike, which started on 11 March, is halting freight traffic at the ports, while passenger traffic continues normally. "The pity is very small compared to what is coming from the government's side," said AKT, which stands in fir
CMA CGM teams up with new Saudi line to enhance Red Sea service French ocean carrier CMA CGM is partnering with Folk Maritime, a new independent feeder and short-sea shipping operator in Saudi Arabia, to commence the North Red Sea Express (NRX) service in the next month. The NRX service will be an enhanced joint service linking Saudi Arabia's Jeddah Islamic Port with NEOM, an urban area built by Saudi Arabia in Tabuk, and the North Red Sea ports of Sokhna in
AD Ports acquires 60% stake in Tbilisi Dry Port AD Ports Group has signed a purchase agreement with Inveco LLC to acquire a 60% ownership stake in Tbilisi Dry Port. This new custom-bonded and rail-connected intermodal logistics hub in Georgia, currently owned by Inveco LLC and Wilhelmsen, is scheduled to become operational by the fourth quarter of 2024. Positioned along the strategically vital Middle Corridor, this project is a crucial logisti
Port of Oakland appoints new Government Affairs Manager The Port of Oakland has announced that Diego González will be the newly appointed Government Affairs Manager. With eight years of experience as a Port Governmental Affairs Field Representative, González brings extensive knowledge in legislative advocacy and policy. Before this role, he held the position of Acting Manager for the past six months. In his new role, he will spearhead the Californian
AD Ports takes majority stake in Georgia's dry port AD Ports Group has sealed a deal to acquire majority ownership in the Tbilisi Dry Port in Georgia. The agreement with Inveco, who owns the project with Wilhelmsen, will see the Abu Dhabi-based ports and logistics giant take a 60% stake in the logistics hub located in the capital city of Georgia that is set ...
Iron ore price rollercoaster sends jitters through cape community The iron ore price rollercoaster combined with a growing amount of the steel-making ingredient commodity piling up at Chinese ports has spooked some shipowners in recent days. Analysts remain divided on how to read Chinese appetite for iron ore, the dominant buyer of the largest seaborne dry bulk commodity. Iron ore prices have swung from ...
CNOOC joins Exxon in tussle over Hess' stake in Guyana block After supermajor ExxonMobil filed a contract arbitration claim aimed to prevent Hess' proposed sale of the entire company - and with it its Guyana oil properties - to Chevron, Chinese major CNOOC also filed for arbitration. In Guyana, Hess has a 30% ownership in more than 11bn barrels of oil equivalent discovered recoverable resource in ...
Lomar fixes out four product tankers in deals worth $132m Lomar Shipping has clinched long-term charters for four modern chemical product tankers in separate deals that are expected to bring in around $132m. The UK-based maritime subsidiary of New York-based Libra Group has secured three-to-five-year employment for the 2019-built CB Adriatic and 2020-built CB Pacific, CB Baltic and CB Caribic with commodity traders and oil ...
U-Ming Singapore and Itochu to own and operate ammonia dual-fuel bulkers The Singapore arm of Taiwanese shipowner U-Ming Marine Transport has signed a memorandum of understanding (MoU) with Japanese trading house Itochu for jointly owning and operating ammonia dual-fuel bulk carriers. The MoU signing is part of Itochu's project which aims to lower greenhouse gas emissions by developing ammonia dual-fuel ships and establishing a global ammonia ...
High spirits and hard questions in the looming IMO green levy debate Co-operation and optimism characterised the final day of talks at the MEPC81 as countries indicated subtle shifts in support for...
Shipping must step up political engagement, argues Salthouse 'When I started, governments couldn't spell "protection & indemnity". They didn't know what we did,' quips sanctions specialist
Trade growth set to bounce back in 2024 Trade in services was higher than in physical cargo in 2023. But the pendulum looks set to swing back in...
India shuns Sovcomflot tankers as Russian oil imports fall Imports by second-largest buyer of Russian oil drop by nearly a quarter month on month in February
Misdeclaration of containers undermines IMO efforts to tackle plastic pollution, says WSC WSC requests IMO member states prioritise enforcement of accurate container content declaration, with mislabelling heightening risk of fire, improper stowage...
Russia and China shouldn't cut a special deal with the Houthis Most seafarers won't even know the beneficial ownership of the vessels on which they serve. But they have every reason...
Bulk carrier values strengthen on robust earnings Last month there were 33 capesize sales concluded compared with just nine in February 2023, according to Veson dry cargo...
CMA CGM ties up with newcomer for Red Sea service Disruptions to Red Sea transits have led to service changes in the region. CMA CGM is now teaming up with...
Reinsurer cold feet hindering Black Sea war risk cover, conference told No war risk pollution claims in Red Sea to date, but 'one of those vessels is going to get hit...
IMO approves new ECAs in Norwegian Sea and Canadian Arctic New building date criteria adopted for the Norwegian Sea ECA, aimed to close a loophole that hampers compliance with other...
ONE outlines major growth plan to hit 3m teu capacity by 2030 To achieve its 'sustainable growth' strategy, the Jeremy Nixon-led carrier plans to invest up to $35bn to scale up its...
Daily Briefing All carbon pricing options still on the table at MEPC | Antigua and Barbuda fresh flag of choice for Russia-calling...
U-Ming and Itochu join forces to develop ammonia-fuelled bulkers U-Ming is the latest partner to join Itochu's project for the development of a new marine fuel value chain
LTL carrier FedEx Freight becomes more global under 'Tricolor' strategy The freight hauled by the largest LTL trucking company in the US will become more global under a reorganization of FedEx's varied domestic and international networks.
Groups urge DCSA members to implement standard on shipping schedules The letter is a further sign that the work of the non-profit carrier group has stalled at the adoption phase for its members.
Transfix pursues anti-theft alliance among brokers, shippers with new tools The digital freight marketplace is making new software tools that target fake brokers and fraudulent pickups available to customers as well as competitors.
Path toward net-zero shipping starts to emerge as MEPC81 meeting ends But there remains significant horse trading ahead as IMO member states try to reach agreement on a fuel standard and a global greenhouse gas pricing measure that need to be decided on by next year and rolled out in 2027.
Editor's selection: Carbon pricing breakthrough?, big-name broker moves and judging the Jones Act Some of the best stories of the week brought to you by TradeWinds' journalists
Noted ship finance lawyer jumps to growing US-flag lessor Maritime Partners Greg Chase's new path leads to New Orleans and he's joined by a chief financial officer
Shipping lifer Sharp-Patel seeks to inspire the next generation of women Pioneering engineer tells TradeWinds how she was always destined for a maritime career
Charterers could run out of tankers for longer Cape route, KPC boss warns Shaikh Nawaf al-Sabah says there is trouble ahead if Red Sea crisis lasts another six months
Is a consensus or a storm brewing at the IMO? Delegates talk about convergence but none have changed their positions
'Watch the freight market': Are rising bulker asset prices getting overinflated? There are different structural stories coming together for capesizes compared with other bulker segments
Russia's shadow tankers rejecting Danish pilots, probe reveals Leaked reports show at least 20 ships carrying Russian oil have refused to let specialist navigators board
Tanker bull run has legs, say analysts, as they double down on upgrades Muted orderbook and expected demand growth driving upside for investors
Vitol says its tanker fleet is meeting IMO emissions target six years early But more work is needed on the commodities giant's LPG carriers
Hanseatic Energy hub green-lights new German LNG and future fuels terminal The facility will start with LNG, liquefied biomethane and synthetic natural gas before progressing to ammonia
IMO inches closer to agreeing world's first emissions levy as momentum shifts Key meeting in London sees more members swing behind legally binding measures to phase out carbon output
US 'urging end' to Ukraine's strikes on Russian refineries over oil price fears Financial Times claims senior officials want a halt to drone attacks
Norden's Atlantic supramax head quits for role at bulker operator Resignation follows the departure of four staff from Norden's panamax department in early March
Ex-minister picked to lead Norway's shipowners Knut Arild Hareide will start as CEO on 1 August
Gunvor shipping boss Jamieson says high tanker rates 'a pain' amid 'perfect Red Sea storm' Giant chartering group believes elevated freight costs are here to stay
Hanseatic Energy hub greenlights new German LNG and future fuels terminal The facility will start with LNG, liquified bio-methane and synthetic natural gas before progressing to ammonia
Laurent Cadji's Union Maritime adds six tanker newbuildings to $1bn orderbook Company now has 26 newbuildings on order at shipyards in the Far East
MPC Container Ships boss Constantin Baack nets huge pay bonus for 2023 Chief executive made a total of $1.24m last year
Maersk veteran Morten Engelstoft to chair spin-off Svitzer Maersk group reveals more details of towage operation's demerger
Yangzijiang Financial increases maritime investment fund firepower to $600m Company says it is looking to reward shareholders with dividends and share buybacks
MOL plans concept study for large coastal ammonia carrier design Shortage of seafarers is also a contributing factor in need for larger vessel, says shipowner
Indian refining giant to cease buying Russian oil via sanctioned Sovcomflot tankers Sources say Reliance Industries has been deterred by US sanctions
'Watch the freight market': Are rising bulker asset prices getting overinflated? There are different structural stories coming together for capesizes compared with other bulker segments
U-Ming and Itochu team up on project to build ammonia-fuelled bulkers Trading house spreads its wings outside of Japan in its ongoing push for ammonia-fueled ships
Yangzijiang Financial increases maritime investment funds firepower to $600m Company says it is also looking to rewards shareholders with dividends and share buybacks
Rewriting history: How Lloyd's Register is turning the spotlight on shipping's female trailblazers Technical director Claudene Sharp-Patel explains the importance of highlighting women's achievements in the industry
Delta Air Lines taps Peter Penseel to lead cargo division Delta Air Lines has named Peter Penseel, currently at Ceva Logistics, to head Delta Cargo.
Foremost Group CEO was intoxicated when she reversed into pond, report says Foremost Group CEO Angela Chao was intoxicated when she reversed into a pond and drowned at her Texas ranch on Feb. 11, according to authorities.
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