New Meghna Group LPG carrier will have Wärtsilä cargo handling system A new fully-pressurized LPG carrier being built for Meghna Fresh LPG, part of the Dhaka, Bangladesh-headquartered Meghna Group of Industries, will have a Wärtsilä Gas Solutions cargo handling system. The group is
CMA CGM applies surcharges from Indian Sub and Middle East French container carrier CMA CGM has announced new surcharges from the Indian Subcontinent and Middle East to worldwide destinations. The company will implement a Peak Season Surcharge (PSS), effective from 15 December 2024 (based on the loading date) until further notice, for shipments originating from the Indian Subcontinent, Middle East Gulf, Red Sea, and Egypt, destined for the US East Coast
New report highlights alarming freight crime trend in Italy TT Club, in collaboration with BSI SCREEN and TAPA EMEA, underscores the increasing threat to the Italian supply chain pose chiefly by organised crime and its sophisticated theft methods. The extensive report, which draws on the wide-reaching data resources of the three organisations, shines a spotlight on the dynamic and evolving nature of freight crime in Italy, and the steps necessary to comba
Global schedule reliability sees slight uptick in October Danish shipping data analysis firm Sea-Intelligence assessed the schedule reliability of major ocean carriers. In October, global schedule reliability rose slightly by 0.9% points month-over-month (M/M), reaching 51.5%. Throughout 2024, schedule reliability has generally remained in the 50%-55% range. "Source: Sea-Intelligence.com, GLP Report, issue 159"
The Growing Trend of Oversized Sunglasses When it comes to making bold fashion statements, oversized sunglasses are back in the spotlight. Loved by celebrities, influencers, and eyewear aficionados, these larger-than-life accessories have once again claimed their space in the world of fashion. From streetside styles to red-carpet moments, the charm of oversized shades goes beyond being a seasonal trend - they've become a fashion staple.
CMA CGM commences new service focused on West Coast of Central America French ocean carrier CMA CGM has announced the launch of its new weekly service, Maya Service, dedicated to West Coast Central America. The weekly port rotation of the new CMA CGM's service will be Lazaro Cardenas (Mexico) - Puerto Caldera (Costa Rica) - Corinto (Nicaragua) - Acajutla (El Salvador) - Puerto Quetzal (Guatemala) - Lazaro Cardenas The Marseille-based container line will deploy two v
POLB unveils North America's largest charging depot for zero-emissions trucks The Port of Long Beach (POLB) has inaugurated its largest heavy-duty vehicle charging depot in North America, catering to Class 8 zero-emissions (ZE) trucks. Operated by 4 Gen Logistics LLC, the facility is equipped with 30 state-of-the-art hyper-fast chargers, each delivering up to 350 kilowatts of power. This setup enables the swift recharging of 4 Gen's expanding fleet of 79 ZE trucks, with pl
Gemini Cooperation opens booking in December Gemini Cooperation, a new alliance of Maersk and Hapag-Lloyd, has announced that it will start accepting bookings in early December. The new container shipping alliance will launch operations in February 2025, but the two partners announced that they will open their bookings on 3 December. Gemini Cooperation confirmed earlier in the year that it will start operations with the Cape of Good Hope se
MSC and ZIM to embark on new slot-sharing agreement post-2M MSC and ZIM have filed a new slot-sharing agreement with the US Federal Maritime Commission (FMC) about their Far East-US East Coast services. This content is locked Select a CN Premium Subscription Package To Unlock The Content! If you liked this post, please consider donating The post appeared first on Container News .
Navigating Tomorrow with Autonomous, Solar-Powered Container Ships Imagine a revolutionary vision of the maritime industry: autonomous, solar-powered container ships that blend cutting-edge engineering with environmental stewardship. These conceptual vessels offer a glimpse into a future where shipping meets sustainability on the high seas. Designed with a commitment to zero emissions, these silent, solar-driven ships redefine efficiency and eco-responsibility.
Freight Investor Services appoints new CEO Freight Investor Services (FIS), a freight and commodity brokerage, announced the appointment of George Dranganoudis as its new Chief Executive Officer (CEO). This appointment follows a comprehensive selection process aimed at identifying the ideal candidate to lead FIS into its next phase of growth. John Banaszkiewicz will remain as Chairman, continuing his efforts to expand and strengthen the c
Lufthansa and Maersk launch cooperation for airfreight decarbonization Lufthansa Cargo and A.P. Moller - Maersk have signed an agreement to promote the decarbonization of airfreight through the use of Sustainable Aviation Fuel (SAF). The flag carrier of Germany will use 400 metric tonnes of SAF on behalf of Maersk in the remainder of 2024, which is an important contribution in the year-end business with traditionally high cargo volumes. The expected reduction of CO2
ABP enhances support for seafarer welfare Associated British Ports (ABP), the UK's largest port operator, has announced a new initiative to enhance financial support for seafarer welfare facilities across its network of ports. For several years, ABP's Humber ports have incorporated a positive default option in their vessel booking system (PAVIS), enabling shipping agents to make voluntary contributions to support the Merchant Navy Welfar
Construction Loans: Building Your Dream Project with Confidence Construction loans are a specialized type of financing designed to help individuals and businesses fund the construction or renovation of properties. Unlike traditional mortgages, these loans provide funds in stages as the project progresses, offering flexibility and tailored solutions for unique construction needs. Whether you're building a custom home, expanding a business, or developing a comm
MSC and Eni sign decarbonization agreement Eni CEO Claudio Descalzi and MSC Group President Diego Aponte have signed a memorandum of understanding to collaborate on sustainability and energy transition initiatives. Eni, an integrated energy company committed to achieving carbon neutrality by 2050, and MSC, a global leader in transport and cruise services, aim to expand their successful business relationship to new geographic areas and foc
Trump vows new tariffs on China, Mexico and Canada On 26 November, Donald Trump proceeded with one of his main campaign promises by announcing plans to impose new tariffs on Mexico, Canada and China, the three main partners of the United States, accounting for more than 40% of the US imports last year. Around 20 days after winning the election, Trump announced the introduction of a 25% tariff on all goods coming to the United States from Mexico a
CMA CGM and JA Solar enter into decarbonization partnership CMA CGM has partnered with JA Solar, a photovoltaic power generation solution provider, to advance the decarbonization of the maritime supply chain and support a sustainable future. This collaboration underscores CMA CGM's dedication to achieving Net Zero emissions by 2050, with the ACT+ range of low-carbon solutions playing a central role. In 2024, JA Solar leveraged sustainable fuel to prevent
Europe leads in logistics resilience as East Asia and US could face port congestion risks As global demand increases, congestion challenges are likely to strain regional economies, particularly in key areas of Europe, America, and East Asia. UNCTAD predicts that maritime trade volume will grow by 2% in 2024, with containerized trade volume rising by 3.5%. Between 2025 and 2029, it is projected that total seaborne trade will expand annually by 2.4% and containerized trade by 2.7%. This
Maritime Partners celebrates closing new financing solution for shipping Louisiana-based Maritime Partners is celebrating the closing of a $750m, first-of-its-kind warehouse facility, which will be collateralised by three wholly owned business lines within one of its managed funds with a syndicate of lenders led by ATLAS SP Partners. The initial portfolio includes Jones Act tankers, US flagged tankers and other vessels for use in ...
Freight Investor Services appoints new CEO Freight Investor Services (FIS), a London-based freight and commodity brokerage, has appointed George Dranganoudis as its new CEO. John Banaszkiewicz will continue in his role as chairman. With over 30 years of experience in the financial services industry, Dranganoudis most recently served as deputy CEO at TP ICAP. Banaszkiewicz, founder of FIS, commented: "George's vast ...
Rivals scramble to keep pace with MSC The unmatched scale and growth ambitions of Mediterranean Shipping Co (MSC) is forcing competitors to scramble for tonnage. Alpahliner is reporting that MSC has now surpassed 400 secondhand ship purchases since it embarked on a historical buying spree amid the covid pandemic in August 2020. Alphaliner tallies 402 ships, while rival Linerlytica has counted 420 ...
Saipem consortium lands $1.2bn BP contract in Indonesia Italy's Saipem and its Jakarta-based consortium partner Meindo Elang Indah, have secured a $1.2bn contract from supermajor BP as part of its gas project in Indonesia known as Tangguh UCC. Tangguh UCC, which comprises the Ubadari gas field development, enhanced gas recovery through carbon capture, utilisation and storage (CCUS) and onshore compression, expands and utilises ...
Avance Gas says goodbye as Exmar swoops for last four newbuilds John Fredriksen-controlled Avance Gas is to be wound up as it sells its last four ships under construction to Exmar. Avance Gas had sold the majority of its fleet to BW Group earlier this year. It has now found a buyer for four mid-sized gas carriers under construction in Asia in the form of Exmar, ...
Copenhagen Infrastructure Partners takes lead in ammonia seaborne trades Copenhagen Infrastructure Partners (CIP) via its Energy Transition Fund (ETF) has signed memorandums of understanding with BW Epic Kosan and F�rder Tankers to develop ammonia-fuelled carriers. The first MOU is with F�rder Tankers to develop a 50,000 cu m ammonia carrier. This vessel will feature high manoeuvrability and ship-to-ship bunkering capabilities, with a first vessel ...
Seafarer pay fails to keep up with inflation Seafarer pay is the lead story in the November issue of Splash Extra published today. While crews are seeing increases in their remuneration, they are failing to keep up with inflation sparking fury with thousands of men and women working at sea. Elsewhere in the subscription title there's regular market commentary, a deep dive into ...
Belships owner eyes selling up Kontrari and Kontrazi, investment vehicles controlled by Frode Teigen, the largest shareholder of Belships, have revealed they are looking at selling their position in the Norwegian dry bulk owner. Teigen has hired Fearnley Securities to evaluate "potential strategic alternatives", according to a release. Teigen owns 53.9% of the shares in the Oslo-listed company he took ...
Chinese operator of Darwin port in financial trouble Landbridge, a Chinese company that runs the Australian port of Darwin, has warned it is in financial difficulty raising the possibility that the Northern Territory (NT) government might terminate its lease of the facility. Landbridge Infrastructure Australia signed a 99-year lease for the port nine years ago. It has made losses each year, while its ...
Vietnam Ocean Shipping readies for historic fleet expansion Vietnam Ocean Shipping (VOSCO), Vietnam's largest state-owned shipping company, is embarking on its largest fleet expansion in its history. The shipping line's board has approved plans worth more than $400m, which include its first newbuilds in more than a decade. Overall, VOSCO has earmarked cash for two secondhand supramax bulk carriers, setting aside up to ...
Seafarer pay failing to keep up with inflation Recent reports have indicated that seafarer salaries are on the rise due to a labour shortage in the industry but the actual numbers behind the rise paint a far more complex picture. Survey results from close to 5,000 seafarers published earlier this month by Danica Crewing Specialists suggested wage increases have occurred this year on ...
How shipping can get its fair share of the best tech grads Shipping has to revamp its image and look more lucrative and agile in terms of career opportunities and growth if it is going to get the cream of the crop coming from the next generation of tech students. The sector has yet to fully adapt its thinking about future talent needs or positions, as very ...
November 2024 Review China's yuan weakened and stock markets on the mainland and Hong Kong fell in the 24 hours following news that Donald Trump will become the 47th president of the United States, likely ushering in another period of trade wars between the world's two largest economies. Global shipbuilding capacity is set to grow by a percent ...
Tankers underwhelm As war rages in eastern Europe and the Middle East and as China continues its shadow boxing with Taiwan, voters in the US have made clear their distaste for continuing action as the world's neocon policeman, voting instead for the America first tariffs and borders policy mix. Mr Trump's drill baby drill policy promises another ...
Dry bulk fails to deliver After a painful October, November presented capesize freight traders with some comfort as the C5 time charter average stabilised at $20,999 per day for the month to date after averaging $20,903 in October but falling by 49% over that month. Freight rates on capesizes sailing from Brazil to China added 11% in the first 22 ...
Container crisis deferred until next year If you track the health of the liner industry by indices such as the Freightos Baltic liner index, then the 9% increase in the global average for moving a 40 foot box, to $ 3,590 as of November 22, looks like all is well. But many analysts fear that the strength of freight rates reflects ...
Analyst Abstract Dry bulk More than 20 countries pledged no new coal power at COP29, the global environmental summit held this month in Baku. Tellingly, not one signatory hailed from Asia. Asian economies are taking more and more volumes of coal while the West pulls back from the commodity. According to data from AXS Marine, the volume ...
Containers stand out in muted S&P scene Aside from the container sector where pricing remains firm, other sectors saw sales ease off this month in line with prices finally cooling. In dry bulk, activity picked up slightly in the second half of the month as some sellers elected to bite the bullet, accepting this lower price environment in order to get the ...
Investigating the price ratio between newbuilds and five-year-old ships At last month's Maritime CEO Forum in Monaco, John Michael Radziwill, who heads up C Transport Maritime, posited that normally shipping cycles work whereby orders flood in when the price of a five-year-old ship exceeds a newbuild cost. Right now, there's still a gap, 83% for capes, 85% for panamaxes while supramaxes are at 97%, ...
Crude tanker cannibalisation of clean cargo winds down (for now) One of this year's big surprises has been the high number of non-newbuild crude tankers switching to clean trades to...
Yara bullish on ammonia offtakes despite challenges Fertiliser maker hopes to woo shipowners with renewable supply. The problem is securing customers first
Danish fund manager CIP signs partnerships for first ammonia carrier newbuilds Copenhagen Infrastructure Partners has joined with Norway's Faerder Tankers and BW Epic Kosan for new ammonia carriers of up to...
Cargo insurance rates soften on back of new capacity, brokers report Red Sea disruption, Asian port congestion, US strikes, Glencore's switch to captive and extreme weather events top list of concerns
Avance Gas to wind down with $268m dividend John Fredriksen-owned Avance Gas says it will put shareholders and 'industrial logic' before growth and pay a huge $268m dividend...
Former Euronav lawyer named as chair of Britannia Group Predecessor Firmin to step down at end of year
MSC boosts fleet with more secondhand containerships MSC has purchased its fifth 8,400 teu post-panamax from German non-operating owner NSH Northern Shipping. It is also adding four...
Port of Darwin operator raises financial concerns Debt restructuring by Landbridge's Chinese parent company contributed to the port making a $22m loss in the 2024 financial year
The continued rise of marine MGAs Marine managing general agents are entering markets where traditional carriers sometimes fear to tread
Container reliability shows marginal improvement Reliability of containerships is still a huge problem, with just over half of vessels arriving at their scheduled calling points...
Frontline decries 'astonishing' share of tankers in illicit trades John Fredriksen's Frontline said sanctioned oil trading has continued to hurt its market with 6% of global VLCCs, suezmaxes and...
PSA and Evergreen Marine establish joint terminal in Singapore As Taiwan's largest shipping line, Evergreen anticipates the addition of dual-fuel newbuildings to its fleet in the coming years
Frontline sells 10 suezmaxes in refinance deal Frontline said it has refinanced 10 suezmaxes in a $512.1m sale and leaseback with CMB Financial Leasing
The Daily View: The rules are changing Your latest edition of Lloyd's List's Daily View - the essential briefing on the stories shaping shipping
Former Cexim president Liu Lianke given suspended death sentence While in his senior role at Cexim, he spearheaded the state bank's rapid growth in ship financing amid China's flourishing...
London-based Barbados registry flags 43% of UK-sanctioned ships Barbados is the latest post-sanctions refuge for flag-hopping Sovcomflot tankers that have repeatedly reorganised and redomiciled fleet management and registered...
First eco-vessel launched for Suez waste and environmental protection operation Group could build '10 to 20' waste collection and anti-pollution vessels in Greek and Egyptian yards
Ningbo Marine orders four ultramax bulkers The order, worth up to $160.6m, cover two firm ships plus an option for two more
Daily Briefing US turns up heat on Hong Kong over alleged hub role in sanctions evasion | Go it alone UK sanctions...
Trump's labor pick draws longshore and Teamster praise, but trucker ire The selection of Oregon Rep. Lori Chavez-DeRemer is seen as favorable to unions, with the new administration potentially facing the need to intervene if ILA contract talks aren't settled before Trump takes office.
Hapag-Lloyd says Gemini alliance cargo bookings to open Dec. 3 The news from Gemini came as MSC released the latest update to its standalone east-west network that will also launch in February.
Asian shipowners warn of immense burden on detained seafarers Seafarers particularly vulnerable in countries with legal systems ill-equipped to deal with complex maritime cases
Golar LNG gets presidential thumbs up on FLNG in Argentina Company executives 'encouraged' on deployment of their assets after Milei meeting
Tsakos sees peace dividend for shipping from peace and reduced sanctions Tsakos Energy Navigation chief executive says peace in the Middle East and Ukraine will bring scrapping and reconstruction
Tsakos calls for world peace and free trade as shipping profits from wars and sanctions Tsakos Energy Navigation chief executive says peace in the Middle East and Ukraine will bring scrapping and reconstruction
Defunct Bed Bath and Beyond seeks to lift claim against container giant OOCL beyond $44m Chinese-controlled liner operator's lawyers complain of pressure tactic
IMO should focus on shadow fleet not decarbonisation, Frontline chief says Lars Barstad optimistic that incoming US government will take tougher stance on 'unregulated market'
Focus on shadow fleet, not decarbonisation, says Frontline chief Tanker company boss hopeful that incoming US government will take tougher stance on 'unregulated market'
Golar LNG and YPF get presidential thumbs up on FLNG in Argentina Company executives 'encouraged' on deployment of their assets after Milei meeting
Swimming in cash: Avance Gas as 'liquid as the seven seas' ahead of 'final voyage' Oystein Kalleklev explains how more than half a billion dollars in dividend is on its way to shareholders
Almost half of ballast water systems failing port state inspections, experts warn Up to 44% of systems inspected don't pass discharge limit criteria
Golden Ocean stock falls despite 'strong' results as forward bookings look weaker Sell-off comes on the same day as John Fredriksen's tanker owner Frontline sees shares decline
Seaspan sells five boxship newbuilding contracts to ONE as profit falls Vessels on order in China novated to Japanese-controlled line
Tanker owners braced for fresh blow with Opec set to keep oil tap turned down VLCCs might have to wait until the spring for any additional Middle East barrels
'When you are ready': How Peter Livanos and Dan Odfjell sealed tanker merger Norwegian owner remembers how Greek links paid off with big deal in 2000
'Encyclopaedic knowledge': Renowned WFW legal eagle Nigel Thomas retires after 37-year stint Familiar face in shipping's legal circles is calling it a day
Frontline stock crashes following weak results and disappointing outlook DNB and Arctic see consensus estimates to come down
'Today, not tomorrow': How Oldendorff chiefs are planning to slash emissions German owner-operator has its own methodology
Meghna Group expanding LPG carrier fleet with order at its own shipyard Bangladeshi owner contracts Wartsila to supply complete cargo handling system
Eastern Pacific sells tanker and gas ship in renewal drive Idan Ofer-led company has so far sold 11 vessels this year as it awaits wave of newbuilding deliveries
State-owned Vosco hunts for 10 tankers and bulkers in potential $400m-plus spend Group will target newbuilding and secondhand market for fleet expansion
Courage Investment Group shares suspended in Hong Kong, pending M&A news Former Courage Marine has sold and bought one supramax each recently, amid rising profit
European Union has 48 tankers in sanctions sights in effort to choke off Russia's oil revenue And more measures could come in January after Poland takes over the bloc's presidency
Hafnia launches $100m share buyback after most profitable nine months in its history Boss Mikael Skov says market was softer in third quarter but winter should boost market again
Retrofit, lay-up or recycle: LNG steamships face their trilemma In a dismal market choices on vintage vessels fall into stark relief
'There was a devil in me': Dan Odfjell recalls Westfal-Larsen divorce and buying John Fredriksen's fleet Chemical tanker veteran looks back at some of the recent highlights of the Norwegian group's 110 years in shipping
Paid in full: John Fredriksen banks last of $470m owed by Frontline Tycoon had loaned cash to his tanker company to complete acquisition of 24 VLCCs from Euronav
Golden Ocean Group reveals vessel sale proceeds after profitable quarter Bulker owner's results have held steady, while its balance sheet has been boosted by a refinance deal
Frontline sells 10 suezmaxes in Chinese refinancing deal as profit weakens John Fredriksen tanker company agrees leaseback transaction with CMB Financial Leasing
John Fredriksen's Avance Gas to close down as it agrees sale of final ships to Exmar Deal follows huge VLGC fleet disposal to BW Group earlier this year
Letter from Hong Kong: Asian shipping gets its mojo back In Hong Kong shipping circles, it's what they don't tell you that counts
Retrofit, lay-up or recycle: LNG steamships face their trilemma In a dismal market choices on vintage vessels fall into stark relief
China bulk carrier suspected in Baltic cable damage The Chinese bulk carrier Yi Peng is suspected in damage to undersea communications cables in the Baltic Sea.
October freight traffic mixed at Gulf Coast ports Container volumes in Houston and New Orleans fell in October, while Corpus Christi, Texas, was boosted by crude oil shipments.
US warns of cyberthreat from China container cranes Maritime transportation could be vulnerable to remote attacks, the U.S. Coast Guard states in a new security directive.
Avianca faces delivery delays for Airbus converted freighters Delivery of replacement aircraft for five freighters recently retired by Avianca Cargo has been pushed back by six months or more, but the airline has still been able to maintain revenue levels.
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