VIDEO: Man overboard recovery system gains LR type approval Edinburgh, Scotland-headquartered search, rescue and recovery specialist Zelim reports that itsSWIFT man overboard recovery device has received full type approval from classification society Lloyd's Register. A Certificate of Type Approval was presented
FERRIES 2024: Service expansion and transit network resiliency Ferries are a unique and valuable mode of transit, offering significant insights for the broader transportation industry. Their minimal infrastructure requirements and proven technology can bolster the resilience of regional transportation networks.
Royal Caribbean Group orders fourth giant Icon Class ship The days of the post-pandemic cruise ship ordering pause are rapidly fading into the past. Today, Royal Caribbean Group (NYSE: RCL) reported that it has signed an agreement with Finnish shipbuilder Meyer
Future-Proofing Your Business: The Role of PPAs in Achieving Green Goals In today's rapidly evolving marketplace, businesses must continuously adapt to stay ahead of the curve. One of the foremost considerations for any forward-thinking company is sustainability. The shift towards greener practices is not just an ethical choice but has become an economic necessity. Consumers, stakeholders, and governments are increasingly demanding environmental responsibility, making
Rates are on 12-month slippery slope, says Linerlytica Freight rates will fall by 70% in the coming year according to Linerlytica, but Xeneta claim that for such a decrease to occur it would mean that the Suez Canal has reopened and that there is massive over-capacity. Consultancy Linerlytica said today it expects freight rates to fall by 70% over the next 12 months, as carriers have failed to prevent the slide in rates seen since July according to s
Port Houston container volume drops 5% in July In July 2024, Port Houston experienced a 5% decline in container volume compared to the same month last year, handling 325,277 TEUs. The month presented challenges due to Hurricane Beryl and a global system outage that briefly disrupted operations. Despite this, year-to-date container volumes have risen by 10%, totalling 2,423,474 TEUs, with the port gearing up for a strong peak season. Loaded im
Abundance Solar Panel to build US$15M solar plant in KEZAD Khalifa Economic Zones Abu Dhabi (KEZAD) Group, the largest operator of integrated economic zones, and UAE-based Abundance Solar Panels Industries have announced a 50-year land lease agreement for a new solar panel plant in KEZAD Area A - Al Ma'mourah. With a planned investment of US$15 million, the facility will produce solar panels and photovoltaic modules for businesses aiming to adopt energy-
Tanker still on fire days after Houthi onslaught An oil tanker is still burning six days after being attacked by the Houthis in the Red Sea. The 2006-built Suezmax tanker, Sounion, has become the third of Greece's Delta Tankers' ships to have been targeted by Houthis this month. According to Operation Aspides, also known as EUNAVFOR Aspides, the EU military operation in response to Houthi attacks, the Sounion's master called for help on 21 Augu
Lebanon boosts oil spill readiness with IMO training Lebanon's capacity to respond to oil spills received a significant enhancement last week through a virtual training event organized by the International Maritime Organization (IMO). From 13 to 15 August, 21 senior managers and administrators, pivotal to Lebanon's oil spill response operations, participated in the OPRC Level 3 course. This interactive online training, which included lectures, exer
NYK launches world's first commercial ammonia-fueled tugboat On 23 August 2024, NYK and IHI Power Systems, in collaboration with Nippon Kaiji Kyokai (ClassNK), completed the world's first ammonia-fueled tugboat, Sakigake. This vessel, designed for commercial use, will be operated by the NYK Group company Shin-Nippon Kaiyosha for tugboat services in Tokyo Bay during a three-month demonstration period. The Sakigake tugboat is part of a Green Innovation Fund
OrbitMI appoints new Director of Product Management OrbitMI, a leading provider of maritime intelligence and analytics solutions, announced the appointment of Tobias Constien as its new Director of Product Management, effective April 2024. Constien brings extensive experience in maritime technology, with a strong background in digital transformation, product strategy, and innovation within the sector. Joining OrbitMI from zero44, where he was inst
Lithium Batteries Power AGM Night Vision Goggles for Enhanced Performance Ensure using the correct power source to get the most out of your night vision goggles. These gadgets are best powered by lithium batteries since they have several advantages over other battery types. Leading night vision equipment provider AGM USA suggests lithium batteries due to their dependability, durability, and effectiveness. With the help of these batteries, your night vision goggles will
Former Golden Ocean boss Ulrik Andersen joins J. Lauritzen Ulrik Andersen has emerged at Danish maritime investment firm J. Lauritzen after stepping down as chief executive of John Fredriksen-backed dry bulk player Golden Ocean Group last year. Andersen has come aboard J. Lauritzen's vehicle, Lauritzen NexGen, which has three methanol dual-fuel kamsarmax bulkers on order at Tsuneishi Shipbuilding in Japan for delivery in 2026 ...
Ramboll gets advisory gig on PGE Baltica's offshore wind projects Denmark's Ramboll has signed a multi-year deal with PGE Baltica to provide wide-ranging technical advisory services to the company's offshore wind farm portfolio in the Baltic Sea. Under the four-year contract, Ramboll's support will cover every aspect of offshore wind farm progression, ensuring technical robustness, financial efficiency, and secure operation throughout the lifecycle of the ...
Today's tanker rates taken in context Splash Extra provides useful analysis comparing today's tanker rates to the averages of the past 10 years. The VLCC freight market slipped to an average of $29,800 a day for the first three weeks of August, adding to a three-month downturn from a peak of $48,000 a day average in May. The average for August ...
Asia Pacific Shipping seals gas carrier newbuilds Vietnamese shipowner Asia Pacific Shipping (ASP) has bolstered its orderbook with a pair of midsize gas carriers in China. The Hanoi-headquartered outfit has commissioned China's Jiangnan Shipyard to build two 50,500 cu m ships that can carry a variety of petrochemical products such as liquefied petroleum gas and liquid ammonia. Established in 2021 ASP operates ...
Norden sells ice-class bulk carrier Multiple brokers tell Splash that Danish shipping giant Norden has sold a nine-year-old, scrubber-fitted, 82,000 dwt ice class bulker, Nord Penguin, for around $30m. The price tag for this Oshima-built vessel indicates that prices are softening. The last similar Japanese affiliated ship was sold in May, and then the same-sized Tsuneishi Zhoushan-built Valiant fetched $32.5m ...
Panama Canal seeks more long-term clients A new long-term slot allocation will come into effect at the Panama Canal from the start of October. The Panama Canal Authority (ACP) said yesterday that the introduction of this new method for its larger neopanamax locks has been designed to increase transit certainty and flexibility. Through this method, several transit booking slot packages will ...
Taiwan's CMT books newcastlemax newbuilds at CSBC Taiwan's Chinese Maritime Transport (CMT) has set out to expand its dry bulk fleet with up to four newcastlemax newbuilds at a domestic yard. The owner of 14 bulkers spread across capesize and newcastlemax segments has contracted CSBC Corporation for a pair of 210,000 dwt units and secured options for two more newbuilds. While delivery ...
Shanghai futures market shows liner fortunes plummeting Looking at the futures market being traded in Shanghai, analysts at Asia-based container consultancy Linerlytica are predicting box freight rates from Asia to Europe will tumble by more than 70% by June next year. The Containerized Freight Index Futures (CoFIF) has been in existence for a year now, traded at the Shanghai International Energy Exchange, ...
South Korea's largest shipbuilder buys Finnish fuel cell maker South Korea's largest shipbuilding group has bought a Finnish hydrogen fuel cell maker. HD Hydrogen, a new unit of HD Korea Shipbuilding & Offshore Engineering(HD KSOE), is paying EUR72m ($81m) to take over Convion, a 12-year-old company developing solid oxide cell (SOC) technology. It has commercialised solid oxide fuel cell (SOFC) systems as well as ...
Japan's top lines and yards join forces to develop liquefied carbon dioxide carrier designs Japan's largest shipping lines and shipbuilders are joining forces to study how to establish standard specifications and designs for liquefied carbon dioxide (LCO2) carriers. Kawasaki Kisen Kaisha (K Line), Mitsui OSK Lines (MOL), Nippon Yusen Kaisha (NYK) along with shipbuilders Mitsubishi Shipbuilding, Imabari Shipbuilding, Japan Marine United, and Nihon Shipyard are the partners in the ...
Now that Panama Canal drought is over, it's time to start preparing for the next drought ACP administrator Ricuarte Vasquez talks lessons learned amid the historic drought and what happens when rainfall inevitably falls short again...
US Navy shipbuilder Austal agrees to pay $24m to settle DOJ, SEC investigation Alabama shipbuilder Austal USA, a subsidiary of Australia-listed Austal Ltd, has pled guilty and agreed to pay $24m to settle...
Sanctions could complicate Sounion salvage Salvors are worried that they could find themselves on the wrong side of US Office of Foreign Assets Control if they...
Tankers and bulk carriers still run Red Sea gauntlet undeterred by Houthi attack on Sounion The wisdom of Red Sea transits is increasingly being questioned against the backdrop of rising concern for the safety and...
Oil industry clean-up scheme will not pay out in event of Sounion spill Delta Tankers could seek to limit liability under CLC convention
Two Russian seafarers killed in cargoship gas leak Russia-flagged Navis-2 was carrying more than 5,000 tonnes of wheat bran from Yeysk, Russia, to Türkiye when it experienced a gas...
BHP expects Chinese steel demand to stay depressed in 2024 BHP's commodity outlook gave a downbeat picture of iron ore demand, warning of volatile prices
South Africa seeks to free FPSO engineers jailed in Equatorial Guinea South Africa's government has called for the release of Peter Huxham and Frederik Potgeiter, who have been in prison for...
CMT orders up to four newcastlemax bulkers at CSBC The order comes against a backdrop of smaller yards with earlier delivery capacity receiving more business. There is slim slot...
Brit's Keel Consortium has 100% line on Red Sea blaze suezmax London underwriters expect rates to move after Houthis set fire to Sounion
Equinor-chartered supply vessel to be retrofitted for ammonia Equinor to help fund the conversion project that also received EU funding
Cambodia bets on canal project but ports gap remains crucial The lack of deepwater ports remains a major challenge for Cambodia
Sounion ablaze at anchor after Red Sea attack, but 'not leaking oil' EU naval force says Suezmax tanker was blown up by the Houthis on Saturday after its crew were rescued following an attack by three...
EPS orders six ultra-large ethane carriers at CSSC Jiangnan Shipyard The six 150,000 cu m ethane carriers are scheduled to be delivered in 2027
Joint strike looms at major South Korean shipyards Further strikes in September and a 'stronger than ever' fight planned if management fails to come up with acceptable proposals
Japanese lines to work on standard designs for LCO2 carriers Despite optimism from some quarters for carbon capture, a study by Wood Mackenzie has warned that high costs and insufficient...
Sanctioned LNG carrier in ship-to-ship transfer day after designation An LNG carrier sanctioned by the US on Friday was captured on satellite imagery transferring its cargo to another vessel...
Daily Briefing Containership data signals very strong August for Los Angeles-Long Beach | Sanctioned LNG carrier in ship-to-ship transfer day after designation...
LA-LB rail dwells on the rise as port complex enters height of peak season While some customers worry rail container dwell times could worsen, port stakeholders say they are accustomed to the ebb and flow and can manage the recent import surge.
CMA CGM Air Cargo launches trans-Pacific flights from Hong Kong to Chicago The service comes as air freight rates out of Hong Kong have stabilized but are still approximately 20% higher than this time last year, according to the Baltic Air Index.
Container shipping navigates new hurdles in bid for a green fuel future Maersk's recent big order of dual-fuel ships - some of which will be powered by LNG - illustrates the quandary the carrier, and by extension container shipping, is currently in when it comes to achieving a zero-carbon future, writes Peter Tirschwell.
US shippers expanding private truck fleets to haul more of their own freight Private fleets owned by shippers are increasingly hauling freight once moved by for-hire carriers, and those truck counts are expected to keep expanding, according to an industry survey.
Brookfield's Altera Shuttle Tankers delivers stronger than expected profits surge Scotland and Norway-headquartered Altera locks in $30m gain from vessel sale to parent
Coast Guard goes after seafarer's license over past child sexual assault conviction Agency pursues case after reaching settlement with second seafarer over abuse of child
Norden tied to sale that would leave it one bulker away from kamsarmax exit Deal comes as secondhand prices hold gains in bulker sector
Gianluigi Aponte's MSC inks strategic deal with Chinese shipbuilder Hengli Deal with former STX Dalian comes as liner giant builds a massive newbuilding orderbook
Sinokor VLCC chartering spree continues with George Economou deal Greek tycoon's TMS tankers reportedly earning premium rate on three-year fixture
Trafigura: Shipowners and charterers will boost investment in zero-carbon fuels as new law kicks in Similar regulations, applied globally, would boost uptake of green fuels, wet freight chief Andrea Olivi says
Oil producer NNPC plots LNG carrier ownership debut after first gas shipments Nigerian firm stepping up efforts to move into LNG shipping
Karl Lodrup Kvalheim's Champion Tankers orders up to six ships after record profit Private Norwegian owner says 'the market has been with us'
OOIL sounds capacity alarm bells as container market future hangs on Red Sea troubles Cosco-controlled parent of Hong Kong-based liner giant fears supply issues
Vitol probe launched by Dutch public prosecutor's office Historic activities being examined, trader and shipowner confirms
Stamford Shipping dismisses reports by brokers that it has sold another product tanker Singapore shipowner's purchases of five former Xihe ships have resulted in profitable past asset plays
Hamburg Commercial Bank's transport loan book grows to €3.3bn after NIBC portfolio deal Total income for shipping unit was dragged down by early loan repayments
How Belships is navigating a 'world with a bunch of uncertainties' and 'spooked' financial markets Lars Christian Skarsgard reflects on aggressive growth and explains why little time is spent predicting the market
Harry Vafias shipowning venture C3is positive on market with 'a plethora of risks and opportunities' Bulker and tanker owner's TCE figures jump 185% in second quarter
Near record container ship order flow leaves healthy market dependent on Red Sea disruption Newbuilding contracts breach 10m-teu threshold in four years
'Dark' oil transfer with Sovcomflot ship lands tanker outfit on US blacklist State Department says both vessels had positioning systems switched off at the time of ship-to-ship operation
Zodiac Maritime capesize was breached after hitting uncharted shoal, says accident report Preliminary findings show not all relevant passage planning had been reviewed on the Indian Partnership
Royal Caribbean splashes out on up to three giant cruise ships at Meyer Turku Newbuilding contract signed with Meyer Turku could see Miami-based cruise major build up to three more of the type
Ulrik Andersen returns to shipping with new Lauritzen investment vehicle Former Golden Ocean CEO emerges with fresh methanol bulker owner
Golden Energy Offshore talks up future as larger fleet boost expenses Revenues leapt as private-equity backed outfit integrated for PSVs, but so did costs
Chinese Maritime Transport inks $320m newcastlemax bulker deal Newbuilding contract ends CSBC's six-year newcastlemax order drought
Ulrik Andersen returns to shipping with Lauritzen and Cargill venture Former Golden Ocean CEO emerges with fresh methanol bulker owner
Revived Pipavav shipyard powers ahead with $500m in new capital Restoration activities are underway to re-establish the facilities to cater to the rising demand for shipbuilding
Gas poisoning kills two Russian seafarers on a ship in Turkey Bodies of two seafarers were found in the hold of the Navis-2 in Bandirma Bay
Tanker experts weigh up impact of Libyan crude production clampdown Analysts tipping European refiners to bring in oil from further afield
Cadeler backlog hits record as dry dockings weigh on bottom line Danish owner saw backlog reach $2.1bn in the first half
Stamford Shipping dismisses reports by brokers claiming it has sold another product tanker Singapore shipowner's purchases of five former Xihe tankers have resulted in very profitable past asset plays
Japan's big three shipowners join compatriot shipbuilders on CO2 carrier design initiative Huge volumes of CO2 expected for shipment out of Japan as CCU projects come online
ADS Maritime exits John Fredriksen's Golden Ocean with 'profitable' share sale Oslo-listed investor had bought into bulker company in 2023
LNG carrier newbuilding price drop looks like 'wishful thinking' DNV gas carrier director expects to see a steady stream of ordering over next five to 10 years
Ulrik Andersen returns to lead new Lauritzen venture with Cargill Former Golden Ocean CEO emerges with fresh methanol bulker owner
Idan Ofer's Eastern Pacific orders world's first ultra-large ethane carrier newbuildings The 150,000-cbm ethane carriers will be built at Jiangnan Shipyard
Cadeler boosts unsecured green loan facility to €125m in deal with Standard Chartered Standard Chartered is lender on €45m upsizing
Britoil to convert platform supply vessel to support the offshore wind industry Seas Geosciences and Britoil form long-term partnership to convert vessel into a geotechnical drilling vessel
Vietnam's Asia Pacific Shipping stacks growing orderbook with midsize gas carriers Growing shipowner orders two 50,000-cbm pair
Pipavav shipyard comeback powers ahead with $500m in new capital Restoration activities are underway to re-establish the shipyard and cater to the rising demand in shipbuilding
Stamford Shipping doubles its money on sale of LR2 product tanker Singapore-based shipowner's purchases of five former Xihe tankers have resulted in very profitable asset plays
Precious taps Taiwanese lender to finance latest bulker acquisition Thai shipowner continues to tap the financial markets to fund its fleet upgrade effort
Pipavav shipyard plotting comeback armed with $500m in new capital. Its new owner explains how Restoration activities are underway to re-establish the shipyard and cater to the rising demand in shipbuilding
Union pact averts India port strike A nationwide strike by port workers in India threatened further stresses to a global supply chain struggling with congestion and delays.
NY-NJ ports enjoy record month The Port of New York-New Jersey was the latest gateway to benefit from the early peak shipping season as importers stocked up on holiday inventory to circumvent a host of supply chain issues.
Hurricane Beryl trims cargo volumes in Houston and New Orleans Ports in Houston and New Orleans recorded slight drops in container movements in July, while shipments of crude oil bolstered freight flows at the Port of Corpus Christi, Texas.
Ocean carriers debut Boeing 777 freighters on Asia routes The airline subsidiaries of ocean lines CMA CGM and Maersk are offering service from China to Northern Europe and the U.S., respectively.
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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