News in Brief podcast | Week 35 2024 | Global strike disruption and low available tonnage In this episode of The Loadstar's News in Brief Podcast, host and news reporter Charlotte Goldstone recaps last week's supply chain news, including the latest on Canada's rail strikes, and ...
Eidesvik Offshore and Wärtsilä to go ahead with conversion of PSV to ammonia fueling Norway's Eidesvik Offshore has awarded Wärtsilä a contract to supply the equipment for the world's first conversion of a platform supply vessel (PSV) to ammonia fueling. The two companies first announced their
Yang Ming buys more chartered ships Taiwanese liner operator Yang Ming Marine Transport continues to expand its owned fleet by prematurely ending the charters of two 12,000 TEU ships. The company said in a Taiwan Stock Exchange filing that it has paid US$186 million for the ships, barely three years into the 10-year period charter. Yang Ming did not identify the ships, except to say that the vessel owners were Paraiso Shipping, a P
Wan Hai Lines introduces new 13,100 TEU ship Wan Hai Lines held a ship naming ceremony on 23 August for the WAN HAI A17, along with a charity event, at the Samsung Heavy Industries shipyard in Geoje. The ceremony was co-officiated by Po-Ting Chen, Chairman of Wan Hai Lines, and S.A. Choi, Vice Chairman & CEO of Samsung Heavy Industries. Chih-Jung Chang performed the christening rituals, blessing the vessel with wishes for good fortune and s
Japan's container exports to US surge to 56,174 TEUs in July Container exports from Japan to the U.S. reached 56,174 TEUs in July, marking a 14.3% increase compared to the same period last year. This represents the fourth consecutive month of double-digit growth, according to data from Descartes Datamyne. Direct shipments accounted for 39,094 TEUs, a 32.8% rise, continuing a year-on-year increase for 12 consecutive months since August 2023. The remaining 1
Floods cripple export-import in Bangladesh as main highway swamps Movement of export-import cargo-laden trucks and other vehicles through the Dhaka-Chittagong highway was disrupted severely as a devastating flood in Bangladesh has inundated roads, highways, homes, and farmlands since late last week. Until now 11 districts in Bangladesh are now underwater where 1.23 million families have been affected totalling 5.7 million people while at least 23 have been kill
HD Hyundai offloads all its HMM shares HD Hyundai, which heads South Korea's largest shipbuilding group, has sold all its shares in compatriot flagship carrier HMM, dispelling any notions that it could acquire the company. HD Hyundai said in a Korea Exchange filing on 22 August that its subsidiaries, HD Korea Shipbuilding & Offshore Engineering and HD Hyundai Samho, sold a total of more than 4.87 million HMM shares for KRW94 billion (
cargo-partner launches new road service connecting Netherlands and Austria cargo-partner, a group company of NIPPON EXPRESS HOLDINGS, announced an upgraded road service connecting Roermond in the Netherlands with Fischamend in Austria. This enhanced route significantly boosts connectivity for customers across Western Europe, offering streamlined logistics solutions into Central and Eastern Europe. cargo-partner effectively bridges the logistics gap between Western, Cent
OOCL unveils its last 24,188 TEU mega vessel Orient Overseas Container Line (OOCL) celebrated the naming of its twelfth 24,188 TEU eco-friendly mega vessel, "OOCL Portugal," during a ceremony at the Nantong COSCO KHI Ship Engineering (NACKS) shipyard. This vessel is the final addition to OOCL's series of 24,188 TEU ships, marking a significant milestone for the company. Laura Liang Aron, Director of the Hong Kong Economic and Trade Office i
Shifting routes and early peak reflected port volumes boost The latest port throughput figures reflect the disruption caused by various unexpected events that disrupted supply chains and caused congestion at key terminals around the globe, boosting shipping lines' income, and making shippers wary of similar crises. Disruptive events, including the pandemic and wars in Ukraine and the Middle East, not to mention the Ever Given blocking of Suez and drought
CMA CGM applies PSS from the USA to the Caribbean CMA CGM has informed its customers about the upcoming Peak Season Surcharge (PSS) that will be implemented from 23 September 2024 (gate-in date) through 5 January 2025. This surcharge will apply to shipments originating from the USA and destined for the Windward Islands, French West Indies, Aruba, Bahamas, Bonaire, Curaçao, Guyana, Jamaica, St. Kitts, St. Maarten, Suriname, and Trinidad & Tobago.
Cavotec commissions mooring system at Tangier terminal Cavotec announced the successful commissioning of a MoorMaster automated vacuum mooring system at APM Terminals MedPort Tangier in Morocco. This innovative system significantly reduces vessel turnaround times at the terminal, enhancing productivity while also lowering fuel consumption. APM Terminals MedPort Tangier, a key facility within the Tanger Med Port-ranked fourth on the World Bank and S&P
Valenciaport processes 461,121 containers in July In July, Valenciaport handled 461,121 containers, marking a 5.64% increase compared to the same month last year. The port processed 6.75 million tons of goods in terms of weight, reflecting a 1.22% increase from July 2023. For the year-to-date period ending July 31, Valenciaport has managed 3,169,288 TEUs, a 12.74% rise over the same period last year, translating to 47.61 million tons, up by 6.10
Brabo collaborates with Artemis Technologies to launch all-electric pilot boat at Antwerp port Brabo, a provider of pilot and port services in Antwerp, Belgium, has partnered with Artemis Technologies to add an Artemis EF-12 Pilot boat to its fleet. Set for delivery in late summer 2025, this fully electric foiling vessel marks a significant advancement for the port of Antwerp, aligning with global climate goals and promoting sustainable maritime practices. The Artemis EF-12 Pilot boat, des
OOCL reports robust first-half financial figures Orient Overseas (International) Limited (OOIL) has released its financial and operational results for the first half of 2024, showcasing a strong performance despite a dip in profit compared to the previous year. The company, which owns Hong Kong-based ocean carrier Orient Overseas Container Line (OOCL), reported a group revenue of US$4.646 billion and delivered an EBIT of US$841 million, with an
NYK Line charters another Diana Shipping bulker New York-listed Greek bulker owner Diana Shipping has entered into a time charter contract with Nippon Yusen Kabushiki Kaisha (NYK Line) for one of its vessels. NYK Line chartered the 2014-built, 179,492 dwt capesize bulker G. P. Zafirakis for a gross charter rate of $26,800, minus a 5% commission paid to third parties, for a minimum ...
Østensjø Rederi orders cross-segment offshore newbuild in Spain Norwegian shipowner and operator Østensjø Rederi has contracted what it describes as an ocean energy support vessel (OESV) newbuild at one of its favourite yards, Astilleros Gondan in Spain. The vessel, scheduled for delivery in the second half of 2027, will be fit to operate across multiple segments, including inspection, maintenance, and repair (IMR), construction, walk-to-work/flotel ...
Eidesvik to retrofit Equinor-bound PSV with ammonia dual-fuel engine Norwegian offshore vessel owner Eidesvik has announced that it would retrofit the platform supply vessel Viking Energy with a dual-fuel engine able to operate on ammonia. The PSV has been in service for Equinor for more than 20 years. Launched in 2003, Viking Energy was the first offshore vessel operating on LNG and in 2016 ...
US looks to 2028 for Hawaii offshore wind lease auction The US Bureau of Ocean Energy Management (BOEM) has set a 2028 start date for wind leasing off the coast of Hawaii's island of Oahu. Hawaii is also home to over two dozen military bases and the first consultations about two possible lease areas in 2016 revealed conflicts with military operations in the area. However, ...
Equinor closes shop and exits Vietnam's offshore wind market Norwegian energy giant Equinor has decided to close its Hanoi office and pull out of Vietnam's offshore wind market. This move comes amid political turmoil within the country, a power struggle within the Communist Party of Vietnam, its recent tilt towards China, and Equinor's regular review of its portfolio of renewable assets. This also marks ...
MSC signs strategic cooperation framework with fast-emerging Chinese yard Hengli Heavy Industry, a fast-emerging shipbuilder from Dalian, has signed a strategic cooperation framework agreement with Mediterranean Shipping Company (MSC) in Geneva. The collaboration will cover a wide range of areas, including newbuilds, engine manufacturing, ship repair, and vessel retrofitting. MSC, the world's largest containerline, has inked multiple large orders across Chinese shipyar
Stricken suezmax off Yemen now an 'imminent' environmental hazard Naval operations working for the European Union have given an update this morning (pictured above) from the Red Sea on the state of the blaze onboard the laden Sounion, a suezmax attacked multiple times last Wednesday by the Houthis, which risks becoming the worst tanker spill of the 21st century. The ship, owned by Greece's ...
Ports around the world start screening crews for mpox At ports across the world seafarers are being screened for mpox in the wake of a new more virulent strain of the virus being detected in Africa. Ports in Singapore, India, Bangladesh, China and Uruguay are among those to have put in place seafarer health checks for any ships that have travelled recently from Africa. ...
Nantong Xiangyu set to reopen nearby bankrupt yard Nantong Xiangyu Shipbuilding & Offshore Engineering is set to expand production capacity by around 60% having made the RMB440m ($62m) winning bid to take over a nearby bankrupt yard. Nantong Xiangyu is taking over Jiangsu Hongqiang Ship Heavy Industry, a yard with three docks along the Yangtze that ceased operations six years ago. Lin Junjie, ...
Continental Kapital Shipping launches in Hong Kong Continental Kapital Shipping Company has held an opening ceremony bringing together some of the big names in Chinese shipping. The company is a 50:50 joint venture between SeaKapital Holdings and Seacon Shipping established in Hong Kong. The company focuses on the acquisition, ownership, chartering, leasing, and management of various types of vessels, including multipurpose/heavy lift ...
Containership data signals very strong August for Los Angeles-Long Beach If you look at spot rates, it appears peak season is on the wane. But spot rates are also affected...
China and Russia establish sub-commission to develop the Arctic shipping route The move comes despite concerns over whether the Arctic shipping route will attract sufficient investment and cargo to significantly expand...
HD KSOE chooses hydrogen business as new growth driver HD Korea Shipbuilding & Offshore Engineering continues to invest in the hydrogen business with the aim of winning a contract...
Budding Hong Kong ship finance firm SeaKapital in joint venture with China's Seacon SeaKapital, set up by Hong Kong shipping stalwarts Sabrina Chao and Kenneth Lam, has moved quickly since being set up...
Daily Briefing US announces sanctions on LNG carriers following Russia's Arctic LNG 2 debut | Canadian government moves to stop railway shutdown...
Portland pushing for third-party container terminal operator by January The port is looking to employ the landlord model used at other West Coast ports that would allow a private operator to manage the T6 terminal's daily operations and market the facility to ocean carriers and shippers.
Chipolbrok expands MPV fleet amid flurry of new orders in sector A Journal of Commerce analysis reveals that the average age of MPVs now trading globally is rapidly approaching 20 years, with almost 12% of vessels 25 years or older.
Canadian rail workers back on job after failed challenge to binding arbitration Despite workers returning to their jobs, the brief work stoppage will impact freight flows in Canada and the US for a few weeks.
Capacity boost on trans-Pacific pushes carriers to compete for cargo Competition to fill ships in the eastbound trans-Pacific has become so intense in recent weeks that ocean carriers are offering a variety of special rates that are much lower than the spot rates they are quoting.
Capital Clean Energy takes 'step in the right direction' as Marinakis cedes some control Webber Research says new structure is not perfect, but it better aligns governance with shareholders
How Hafnia's big dividend payments could grow even larger this year Both the company and equity analysts are keeping a close watch on one key threshold
Former Crowley officer hit with sexual assault allegations Case follows three settlements in 2023 over allegations of harassment and abusive sexual contact
Leasing newcomer SeaKapital teams up with Seacon Shipping to launch shipowning venture Joint venture showcases the union of Hong Kong's ship financing and leasing capability and China's comprehensive shipping services
Diana Shipping scores rate rise in capesize period deal with NYK Group Bulker will earn $26,800 per day compared with $17,000 earlier
Capital Clean Energy Carriers makes rebranding official on the Nasdaq Company expects to become the largest US-listed LNG transportation company by late 2027
Danish Ship Finance says competition for deals 'more intense than normal' as it adds new clients Credit institute sees rising loan demand lead to repricing of shipping facilities
Ostensjo Rederi heads to Spain for versatile offshore newbuilding Vessel designed with inspection, construction and floatel services in mind
Navigator Gas orders up to four ethane-fuelled LPG midsize carriers in China Speculatively contracted vessels set to ship US ethylene are retrofit-ready for using ammonia as fuel
Owner of seized dredger caught in 'abusive tax penalty' battle vows to fight on Legal documents not due to be filed to international tribunal before August 2025 in dispute with Mexico
Maersk: Container peak season to arrive 'a lot sooner' this year Danish liner says clients get cargo to Europe earlier in attempts to avoid potential disruption
Terntank investment in five methanol-ready wind-powered tankers has won buy-in Close relationships with charterers in Northern Europe make next-generation vessels a reality
Peter Gast Schiffahrtsregatta wins red carpet welcome after day of yacht racing German broker's blue ribband sailing event for shipping sees tradition meet with evolution at 41st running
Tanker values remain resilient with limited upside, says Fearnleys Fearnleys said if earnings take a dip, so would the market for older tankers
Eidesvik Offshore and Wartsila claim world first with ammonia-fuel retrofit deal for PSV Platform supply vessel to be converted into 'world's first ammonia-fuelled in-service ship', companies say
First cooldown cargo arrives for Venture Global's Plaquemines LNG plant Company's own newbuilding waits close by as industry watchers await initial re-exports
'Attractive valuation' of shipping stocks as seasonal tailwinds arrive, Clarksons says Investment bank sees seasonality as offering bulker and tanker opportunities
Tanker owners can bank on Opec boost later this year, Poten says While the bloc has surprised in the past, broker's research head argues owners should enjoy production lift
Fires burn on Greek tanker as fears surround possible oil spill 'four times the size of the Exxon Valdez disaster' Explosions on the deck of Greek tanker were triggered after the Sounion crew was taken to safety
Shadow LNG carriers line up for suspected transfer of Russian cargo As third vessel calls at Novatek's Arctic LNG 2 plant
Everest Shipping sells off entire ultramax bulker fleet as it quits sector Bulker operator said to be focusing on larger bulkers as leases for smaller vessels come to an end
Chipolbrok orders first new ships in four years as yard lands debut MPP order Heavy-duty equipment manufacturer ZPMC contracted to build two firm vessels plus options for additional pair
Banks mull finance curb on owners that put seafarers at risk in Red Sea Recent spate of attacks on shipping off Yemen prompting banks to check if safety measures are being followed
Socatra orders handysize product tankers at Guangzhou Shipyard International French energy transportation company books two newbuildings at Chinese yard
Bridgemans scraps cruise ship acquired in March for luxury accommodation role Converted ro-ro that helped launch two top-tier luxury cruise lines ends 50-year career on Turkish beach
Brazil offers $1.1bn to help finance production of sustainable bunker fuels South American nation hopes to build on its already strong positions in ethanol and biodiesel production
Panama Canal Authority sees Rio Indio project as answer to future droughts The Panama Canal Authority said the severe drought that affected operations over the past 12 months has shown officials they need to be more customer-oriented.
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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