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JULY 25, 2024

Sonowal envisages Budget 2024-25 to significantly enhance India's shipping, ship repair industry Ocean container shipping market seems reaching peak: Analysis E-commerce export hubs to be set up Blaze on MV Maersk Frankfurt doused MSC reinstates and enhances Liberty service from Asia to USEC Govt removes Customs duty from 25 critical minerals Garment export dips Containership fleet capacity growth fastest in 15 years The MSME cluster initiative announced in the Budget is a game-changer DBGT achieves major milestone by handling 4 million TEUs since inception PIL upgrades its electronic Bill of Lading solution You Ask We Answer

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JULY 24, 2024

Bangladesh 'jam-packed' with cargo as curfew and internet restrictions continue 'Last chance' for US importers to stock up before possible east coast port strike 'Kick-ass' DSV beats Kuehne to the punch UPS Mexico takeover overshadowed by poor Q2 results UPS drama - a Premium back and forth on key bits and pieces Maersk Frankfurt heads for open water as container fire subsides A dark tale - the paradox of St Petersburg's port throughput Contract logistics the star performer as DSV unveils mixed Q2 results Magma expands to Dubai with two freighters, as ASG keeps growing ECU eyes 'organic growth' to double its market share in Latin America HMM boosts capacity on PSX service amid surging exports to USWC Making our employees our partners the right call for growth, says Cardinal CEO

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JULY 24, 2024

World's first battery-hybrid self-unloader will have Wärtsilä propulsion system Wärtsilä is to supply a hybrid-electric propulsion system for the 11,000 dwt battery-hybrid self-unloading limestone carrier recently ordered by Canada's CSL Group. As we reported earlier, CSL Group will build and operate NTSB reports on $600,000 Great Lakes bulk carrier grounding The National Transportation Safety Board has released its report on a January 7, 2023, incident in which the 715-foot long, 1980-built Great Lakes bulk carrier American Mariner grounded on shoals, damaging three

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JULY 24, 2024

Southeast Toyota Distributors makes progress on new auto processing facility in Jacksonville Contractors for Southeast Toyota Distributors, the largest independent distributor of Toyotas worldwide, are making significant progress on a new 31,587 m² auto processing facility at JAXPORT's Blount Island Marine Terminal. According to a statement, J.E. Dunn Construction, the project's contractor, has finished the foundations and is now constructing the concrete walls. The installation of struc Clariant selects FourKites to boost efficiency, response times and customer satisfaction Supply chain visibility provider FourKites has been chosen by Clariant, a sustainability-focused specialty chemical company, to provide comprehensive supply chain visibility for its ocean shipments. In just six weeks after implementing FourKites, Clariant achieved its highest-ever tracking percentage for international shipments, paving the way for rapid return on investment, streamlined operation CMA CGM applies congestion surcharge in Guyana Due to the current congestion at the port of Georgetown in Guyana, CMA CGM is implementing a Port Congestion Surcharge (PCS). Effective from 22 July, based on the gate-in date (19 August for the United States and Puerto Rico and 22 August for Latin American countries under notice and the US Virgin Islands), this surcharge will apply to all cargo types from anywhere in the world destined to George Port of Trelleborg proceeds with expansion project Nearly 50,000 m² have now been paved by Skanska in the new eastern section of the Port of Trelleborg. This asphalting project is part of the European Union (EU) initiative, "Rail-IT," which is co-financed by the Union. Alongside the paving, numerous pine trees have been planted to enhance the area with a greener and more pleasant atmosphere for its customers and travellers. According to the Swedi Shifts in Container Rankings: ZIM surpasses Yang Ming, CMA CGM set to overtake Maersk MSC and ZIM Line are the fastest-growing mainline operators, according to the latest Alphaliner's report. MSC's fleet has now crossed the 6 million TEU mark, thanks to aggressive newbuilding orders and recent purchases of second-hand, albeit elderly vessels. The Swiss-Italian operator's latest newbuilding is the 16,616 TEU MSC Juliette, which Guangzhou Shipyard International delivered on 18 July, Container ship fleet sees fastest growth in 15 years Since the beginning of the year, the capacity of the container ship fleet has increased by 1.6 million TEUs. "Compared to one year ago, the capacity has risen 11% to 29.5 million TEUs, the fastest fleet growth in 15 years," mentioned Niels Rasmussen, Chief Shipping Analyst at BIMCO. During the first half of 2024, the delivery of new ships reached a new high. A total of 264 ships with a combined c CMA CGM applies peak season surcharge in Gabon CMA CGM has announced the implementation of a Peak Season Surcharge (PSS) from the port of Libreville in Gabon. Effective from 15 August 2024 (loading date) until further notice (18 August 2024, for Latin American countries under notice, and 21 August 2024, for the US and US territories), this surcharge will apply to dry cargo originating from Libreville and destined to worldwide locations. The s Port of Corpus Christi handles over 50 million tons in 2024 Q2 In the second quarter of 2024, 50.1 million tons of cargo passed the Corpus Christi Ship Channel, marking a 1.7% rise compared to the same period in 2023. During this period, the US port experienced growth in shipments of crude oil, break bulk, and agricultural commodities. In particular, crude oil tonnage rose by 4.8% to 32.6 million tons, while breakbulk and agricultural cargoes increased by 52 Leschaco Colombia appoints new managing director Leschaco Group has announced the appointment of Mayerline Santamaria Neira as the new managing director for Leschaco Colombia and its subsidiaries, effective from 1 August 2024. This strategic leadership appointment follows the recent successful rebranding of the first four Colombian companies, emphasizing Leschaco's commitment to fostering growth and innovation in the region. To ensure a smooth PIL upgrades its eBL solution Pacific International Lines (PIL) is partnering with WaveBL, a provider of digital trade solutions, to provide a wider range of electronic Bill of Lading (eBL) solutions to its customers. WaveBL's solution is expected to improve the ease, security, efficiency, and sustainability of PIL's trade documentation process. Additionally, it is anticipated to provide a fuss-free experience for customers w Port of Long Beach names new Harbor Commission president Harbor Commissioner Bonnie Lowenthal was elected president of the Long Beach Board of Harbor Commissioners, the five-member board overseeing the Port of Long Beach (POLB). The board also appointed Frank Colonna as vice president and Steven Neal as secretary. Each July, Commissioners choose a president and two board officers for one-year terms. The new officers will begin their terms on 5 August, Hapag Lloyd introduces new PSS from South Europe to Arabian Gulf Hapag-Lloyd has announced that a Peak Season Surcharge (PSS) will be implemented for shipments from South Europe to certain destinations in the Arabian Gulf. This surcharge will apply to all 20' and 40' dry & reefer containers, including high cube equipment, starting with sailings on 3 August 2024, and will remain in effect until further notice. The PSS rates will be as follows: US$250 per 20' an

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JULY 24, 2024

Hafnia moves to offload cargo from fire-damaged tanker off Singapore Product tanker giant Hafnia is looking to remove the cargo from its fire-damaged ship that was involved in a collision with another tanker off Singapore last week. The BW Group company is in discussion with the Maritime and Port Authority of Singapore (MPA) on a safe location to transfer naphtha from the 74,200 dwt Hafnia ... Diana Shipping charters out ultramax to Stone Shipping New York-listed Greek bulker owner Diana Shipping has entered into a time charter contract with Stone Shipping for one of its ultramax dry bulk vessels. Stone Shipping hired the 2018-built, 60,404 dwt bulker DSI Polaris. The gross charter rate is $15,400 per day, minus a 5% commission paid to third parties, for a period until ... Uniper taps Navigator-Bumi Armada JV for LCO2 export from UK project UK CO2 shipping and injection solutions joint venture company Bluestreak CO2 has entered into a memorandum of understanding with Düsseldorf-headquartered energy company Uniper to work on liquid CO2 export from a proposed facility in the UK. Under the agreement, the parties will explore the feasibility of implementing a jetty-moored floating liquid CO2 storage facility and ... Seacon expands with double tanker bareboat deal China's Seacon Shipping continues to expand its footprint in the tanker segment by adding a pair of chemical carrier newbuildings through a bareboat charter deal. The Hong Kong-listed diversified owner and operator has inked contracts worth in aggregate about $55.9m with Yingxing Financial Leasing for 18,500 dwt units, which will be built at China's Wuhu ... Aurora Offshore scores one-year PSV fixture with BP Borealis Maritime's offshore vessel arm, Aurora Offshore, has secured long-term employment for one of the platform supply vessels taken over from Viking Supply Ships earlier this year. Brokers report the 2021-built Aurora Cooper fixed to BP UK for one year plus options, with the charter likely starting next week. Dayrates for the LNG dual-fuel battery ... Archer pens $40m drilling services deal in Brazil with Equinor Norwegian offshore service provider Archer has been awarded a two-year contract for platform drilling services for Equinor in Brazil. The estimated firm contract value awarded by the Norwegian giant is $40m and includes an optional two-year extension period. The deal will begin in November 2024 in direct continuation of Archer's current contract for drilling operations ... Sanctioned Russian insurer clouds dark fleet picture further The complex insurance picture surrounding the so-called dark fleet of tankers trading around the world has become even more unsure. Following the UK government's decision to sanction Russian insurance provider Ingosstrakh earlier this year, London-headquartered West of England P&I Club has warned it may be constrained in its ability to provide cover for members with ... Ocean Winds finds partner for upcoming Portuguese offshore wind tender Ocean Winds, an offshore wind player created as a 50-50 joint venture by EDP Renewables and Engie, has formed a strategic partnership with Martifer Renewables & Energy to jointly participate in Portugal's first tender for offshore wind farms set for later this year. This collaboration brings together Ocean Winds' experience in developing and operating offshore ... Athenian Sea Carriers adds to chemical tanker newbuild series Greece's Athenian Sea Carriers has bolstered its chemical tanker orderbook in China. The Kyriakou family-controlled owner has exercised options for two 18,500 dwt vessels at Wuchang Shipbuilding Group taking its newbuilding programme at the yard to 10. These vessels will feature NOx-Tier III, EEDI Phase 3 compliance, and readiness for both LNG and methanol fuels. ... Chinese commodity imports reach new highs All year long there has been a severe mismatch between the doom and gloom headlines surrounding the Chinese economy and the mountains of commodities shifting through the nation's ports. This dislocation is getting wider with the latest data from broker Braemar showing that in the second quarter China managed to break all records for dry ... New Fortress Energy secures $700m loan for second Fast LNG unit US-based LNG player New Fortress Energy has closed a $700m loan which will fully fund the construction of its second Fast LNG unit (FLNG 2). The FLNG 2 unit will be developed in partnership with Mexico's state-owned utility Comisión Federal de Electricidad utilising its terminal infrastructure in Altamira. Fast LNG design is the first of ... Euroseas fixes charter for 2007-built feeder boxship Nasdaq-listed Greek boxship owner Euroseas has entered a time charter contract for one of its feeder containerships. Euroseas won a charter for the 2007-built, 1,740 teu EM Spetses for a minimum period of 18 to a maximum period of 20 months at the charterer's discretion, at a gross daily rate of $18,100. The charter for ... TechnipFMC wins new Petrobras contract Subsea contracting giant TechnipFMC has secured more work from Petrobras for the pre-salt fields offshore Brazil The New York-listed firm has sealed what it describes as a substantial deal for the design, engineering, and manufacture of flexible pipe for water injection and gas lift. "One of our core technologies will once again support Petrobras's ambitions," ... MSC breaks ground on Paris box terminal Mediterranean Shipping Co's logistics arm, MEDLOG, has broken ground on a new multimodal platform in the Paris region. The MEDLOG Inland Terminal Paris-Bruyères project is part of a wider renovation project underway at the Port 2000 site in Le Havre and will provide rail and barge connections for the region's importers and exporters. The project ... CMA CGM tipped to develop new Hamburg terminal with Eurogate Long a closed shop for overseas operators, the port of Hamburg is being tipped to welcome a third foreign liner investment. Alphaliner understands that the French ocean carrier CMA CGM and the German terminal operator and logistics group Eurogate have agreed to join forces in the development of a new container terminal at Germany's largest ... Fire-struck Maersk ship moved away from Indian coastline Five days after a fire broke out on its maiden voyage, the blaze on the Maersk Frankfurt off Goa was finally doused yesterday. Small fires in some containers are still being reported, however. "The vessel is presently 13 nautical miles west of New Mangalore and heading towards open sea," the Indian Coast Guard (ICG) ...

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JULY 24, 2024

SFL follows Dorian's lead and sells shares. Are more offerings around the corner? Follow-on offerings by larger shipowners were a mainstay of US public markets in earlier eras. After a long drought, offerings... What does Ursula von der Leyen's re-election mean for shipping? European shipping, and shipping in general, should benefit from a strong EU policy focused on growth and securing competitiveness. But... First signs of Russia amassing 'dark fleet' of LNG carriers The purchase of assets for LNG shipments has all the hallmarks of dark fleet tanker development seen since 2022 when... EU sanctions on Russian LNG could increase its imports A research paper by the Oxford Institute for Energy Studies said the EU's latest sanctions could create contract disputes, but... Rate hikes and supplementary calls boost Japan Club financial statements Marine mutual highlights challenges facing insurers in wake of pandemic, including Ukraine invasion and Houthi assault on merchant vessels EU to fund alternative marine fuel projects with ETS revenue Member states will be able to top up budget allocated to alternative bunker fuel production Public can have confidence in FuelEU verification, argues Verifavia 'We can have reasonable reassurance that there are no material misstatements in the data, no big mistake in those numbers... Containership fleet growth hits 15-year record A combined 1.6m teu of containership newbuilding capacity was delivered in the first half of this year while only 51,000... MPA collaborates with Hafnia on cargo transfer and towage plan following collision The cause of the collision remains unknown as investigations continue, Singapore and Malaysia authorities say Fincantieri wins multi-billion dollar Carnival cruiseship order World's largest cruise vessel operator has ordered trio of 230,000 gt vessels at Italian cruise and naval vessel shipbuilding specialist... US partners with South Korea to rebuild shipbuilding industry while keeping pressure on China South Korean shipbuilders are seeking to establish a bridgehead in the US Navy's maintenance, repair and overhaul business through co-operation MSC breaks ground on Paris multimodal terminal The terminal is part of a wider project to renovate Port 2000 at Le Havre, with an aim for the... India Coast Guard says major fire on Maersk Frankfurt 'doused' India Coast Guard has deployed a pollution control vessel on site to help prevent leaking Daily Briefing Drone strikes spark armed security rethink | Red Sea attacks continue as four vessels attacked in past week | Over-reliance...

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JULY 24, 2024

ODFL's LTL freight volume rising despite soft industrial demand More business from logistics partners and retailers helped increase daily shipment count for the second-largest US LTL provider, but year-over-year comps are about to get tougher. MSC restores trans-Pacific Liberty service with new call at Philadelphia The carrier said the move was a response to "ongoing robust demand" on the trade lane, becoming the second trans-Pacific service MSC has relaunched this year. CN sees some diversion of intermodal freight to US amid labor uncertainty Ocean carriers and shippers are diverting some intermodal freight to US ports to counter the threat of a Teamsters strike against Canadian railroads. PIL turns to software vendor to meet 2030 eBL target The Singapore-based ocean carrier is the fifth shipping line to use WaveBL's electronic bill of lading product. High ocean demand from Asia shows signs of peaking: DSV CEO Jens Lund believes the supply and demand balance on the major trade lanes is being restored as front-loaded shipments make their way through the supply chain.

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JULY 24, 2024

JP Morgan's Norwegian Car Carriers signs order 'ramping up its green fleet' Oslo-headquartered shipowner books third LNG-fuelled ship at CIMC Raffles Top Ships strikes deal to buy 'mega-yacht' from boss Evangelos Pistiolis Para Bellum to be chartered out on short-term deals Rio Tinto shows decarbonisation commitment with new Eastern Pacific dual-fuel vessel Mount Ossa unveiled as ninth member of its chartered newcastlemax fleet SFL leads plunging US shipping shares after $100m fundraiser prices at a discount John Fredriksen-backed company follows its playbook for stacking acquisition powder Gas industry body Sigtto on hunt for new CEO as Ian Revell steps down Health issues push chief of tanker and terminal membership organisation to resign Dorian LPG springs $42.6m dividend to share cash pile with investors Preview of earnings shows quarterly revenue growth Navigator and Bumi Armada plot fleet of vessels for carbon shipping project with Uniper Joint venture partners to explore building fleet of ships to export waste gas from Kent power station VLCC rates strike six-week high driven by pent-up charterer demand Middle East and West African activity drives earnings up 61% in a week How blacklisted shipowners have hijacked Hong Kong Sovcomflot and Fesco have set up subsidiaries there since the invasion of Ukraine Japan turns to tankers to fight jet fuel shortage as refinery maintenance bites Government outlines plans to cope with greater need due to high summer travel volumes Oldendorff Carriers sells bulker brace as German giant cashes in on rising prices Prices are rising and German owner-operator has getting more with every sale Frontera unveils new Colombian LPG import project to boost VLGC demand Canadian energy company setting up joint venture to supply growing need for gas from 2027 Oil sheen spotted around fire-damaged Hafnia tanker involved in collision with VLCC Owner says equipment was taken from tug to stop seepage Maersk in danger of surrendering second spot in global container line rankings at time of record growth MSC leads the pack, but CMA CGM remains set to overtake Maersk Capesize S&P market humming with fresh batch of deals at 'very liquid low point' Four capesizes aged more than 14 years are stilling Chinese thirst for big bulkers From New York to Cork: How former shipbroker and Wall Street banker 'woke up' at Ardmore All roads eventually led to Ireland for new tanker company bosses Danny Ungar's Unity Maritime snaps up bulker as expansion push extends UK company says deal is another milestone as it looks to further growth JP Morgan linked to purchase of Oriental Energy VLGCs with new pair fixed out to trader US bank has lined up employment for the gas carriers with Mercuria New Fortress plans to deliver its first produced LNG cargo in August Company closes $700m load to kick-start second liquefaction project in Mexico Tanker owners face billions in extra costs from European Union fuel regulations Fuel EU Maritime costs will top compliance costs for the EU ETC by 2035, BRS Group said TMI boss Ed Buttery sees pay jump after taking on dual-CEO role London-listed bulker company sees overall wage bill drop Gail (India) returns to market in search of long-term LNG carrier tonnage Seven-year period hire could be extended out to 2038 as Indian gas buyer eyes vessel stake Ardmore Shipping taps 'strong bench' as it prepares for life after Tony Gurnee Gernot Ruppelt and Bart Kelleher outline their plans for Ireland-based tanker owner after the departure of founder Anthony Gurnee Aon: P&I clubs will struggle to justify premium increases in 2025 Broker says strong investment profits and low claims leave mutuals in strong shape Leaner Taylor Maritime Investments begins 'new chapter' after selling 21 bulkers Boss Buttery excited about prospects of younger fleet and integration of subsidiary Grindrod Shipping Euroseas clinches 'lucrative' feeder ship charter to replace bumper Zim fixture US-listed owner says container ship market fundamentals 'remain quite strong' 'Goldilocks zone': New Ardmore leaders open up on growth plans after inheriting a success story in a bull market Gernot Ruppelt and Bart Kelleher outline their plans for Ireland-based tanker owner after the departure of founder Anthony Gurnee John Fredriksen's SFL raises $100m to boost vessel acquisition capacity Underwriters have option to buy additional $15m of shares Fredriksen's SFL raises $100m in share offering to boost vessel acquisition capacity Underwriters have option to buy additional $15m of shares Dredger seized in Malaysia over claims of illegally sucking up sand The sand digger ship was being controlled by foreigners who failed to provide valid legal documents Martin Helweg leaves top spot at Dubai offshore giant P&O Maritime Logistics CEO is the second senior shipping executive to leave DP World fold within a week HPH Trust's interim profit jumps as peak season starts early Terminal operator says it has benefited from Red Sea crisis at the expense of regional rivals Malaysia opens investigation into fiery tanker collision Ships will be towed to a safe anchorage for further inquiries

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JULY 24, 2024

Airfreight, contract logistics boost Kuehne+Nagel, DSV results The recovery of the air and ocean logistics market since the start of the year helped improve second-quarter results at Kuehne+Nagel and DSV. Brazil approves Embraer structural modification for E190 freighter The Embraer E190 cargo jet is getting closer to commercial service after Brazil's aviation authority signed off on the passenger-to-freighter conversion plan.