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JANUARY 29, 2024

DahNAY acquires Container Freight Stations in Chennai & Tuticorin JNPA celebrates Republic Day with patriotism & fervour Baltic Exchange Market Report (26 Jan. 2024) Dry bulk cargo demand to grow only marginally in 2024 & 2025 No import restriction on desktop computers FIATA in MoU to promote excellence in freight forwarding and logistics sector academic education Red Sea Crisis: Increase in CO2 emissions Ocean freight shipping rates seen increasing further in early Feb. Partial shutdown of berths at JN Port THE Alliance reaffirms commitment to unwavering cooperation in 2024 Automatic discount for Green Award inland vessels at Antwerp port Govt allows direct listing of securities by public Indian companies on International Exchanges of GIFT-IFSC Connecting link between Western & Eastern DFC dedicated to the nation

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JANUARY 29, 2024

"Increasing importance" US class I railway to upgrade its core network RMI hits 200 million t landmark Turkka Kuusisto takes the helm GOL enters Chapter 11 process USD 157 million for Wabtec's brakes No magic, just automation Landing a cargo handling contract in Saudi Arabia Container highs at SC Ports PTP picks new CEO 1,000 e-trucks for cement giants Building a hub in Germany's Ruhr region "Curiosity of the Day" 2023: a solid year for AEI AD Ports investing in Jordan A promotion for P.K. Mishra Modern waste trucks for Fribourg A new platform for shipping operations

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JANUARY 26, 2024

What on earth is going on at Schiphol? Asia-Europe spot rates level out as CNY doldrums come into view The watershed DB Schenker sale - 'hearing this, heard that?' An ILA may be the best deal for liner clients mulling a spot rate gamble Red Sea crisis a new headache for customers after Ukraine traffic revamp PHOTO BLOG: Maersk set to deploy its first large methanol-enabled box ship Digitise now, it's key to airfreight's future, says Ram Menen Atlas Air appoints Joel Goldberg its SVP and chief information officer

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JANUARY 26, 2024

Fire on Trafigura-chartered tanker hit by Houthi missile The U.K. Maritime Trade Office (UKMTO) reports that a vessel was struck when 60 nautical miles southeast of Aden and, as of 16.42 UTC was on fire. The vessel is identified in VIDEO: First large green methanol box ship Ane Mærsk set to enter service next month Set to enter service next month, the world's first large methanol-enabled container vessel has been named Ane Mærsk in a ceremony held at HD Hyundai Heavy Industries' Ulsan, South Korea, shipyard. The Biden administration pauses new LNG export project permitting Citing climate crisis concerns, the Biden Administration today announced a temporary pause on pending approvals of liquefied natural gas (LNG) export projects. The U.S. Department of Energy (DOE) says that it will SEACOR Marine will upgrade more PSVs for battery hybrid operation Houston-headquartered SEACOR Marine Holdings Inc. (NYSE: SMHI) is to acquire four state-of-the-art energy storage systems from Kongsberg Maritime AS. They will be installed on four of SEACOR Marine's platform supply vessels (PSVs),

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JANUARY 26, 2024

Global bunker indices exhibit fluctuation without discernible trend During the fourth week of the year, the Marine Bunker Exchange (MABUX) global bunker indices exhibited fluctuating movements without a distinct pattern. The 380 HSFO index experienced a decline of US$2.01, settling at US$502.04/MT and approaching the US$500 mark. In contrast, the VLSFO index witnessed a rise of US$13.23, reaching US$649.35/MT. Additionally, the MGO index recorded an increase of U cargo-partner unveils new air service between Western Europe and Mexico Global logistics provider cargo-partner strengthens its air consolidation services with a new Frankfurt-Mexico City service. The move is expected to address challenges European exporters face amid market uncertainties, offering stable solutions. The company's air export gateways in Frankfurt (Germany), Vienna (Austria), and Budapest (Hungary) aim to provide flexible options to meet diverse custom Container ships defy Panama transit trends Panama Canal's overall transit trends are down by 42% year-on-year in December, but container shipping is seeing a rise in transits as other vessel types divert from the waterway. In its latest report on the Panama Canal this week, Drewry Shipping Consultants reports that December 2023 transits fell by 25% to 746 transits compared to October, and that was a year-on-year decline of 42%, from 1,281 Saudi Red Sea Authority sign two MoUs during STF 2024 During the final day of the Saudi Tourism Forum 2024 in Riyadh, the Saudi Red Sea Authority (SRSA) entered into two significant Memorandum of Understanding (MoUs) with the Saudi Investment Recycling Company (SIRC) and the National Maritime Academy (NMA). The agreements, signed by various key figures, communicate the SRSA's primary responsibilities, services, and advancements in facilitating coast Port of Rotterdam opens first charging station for electric trucks Truckparkings Rotterdam Exploitatie (TRE) and the Port of Rotterdam Authority opened the first charging station for electric trucks in the Dutch port. The new station is located at the Bodaanweg truck park in Waalhaven. TRE has worked with the Port of Rotterdam Authority to install the first five charging points in the truck park, which can accommodate a total of eight electric trucks. The truck Boluda Towage launches operations at Abu Qir Container Terminal in Egypt In January 2024, Boluda Towage initiated towage operations at Abu Qir's Container Terminal in Egypt, deploying three tugs. The first container vessel that was operated by Boluda Towage's tugs VB Amon and VB Horus was the 2002-built, 4,367 TEU Zhong Gu Ji Lin on 9 January. Subsequently, on 12 January, the tugs assisted the arrival of a second container vessel, Mao Gang Shanghai into the port. "Abu Maersk names first vessel of its large methanol-enabled fleet The world's first large methanol-enabled container vessel has been named "Ane Maersk" at a ceremony in the shipyard of HD Hyundai Heavy Industries (HD HHI) in Ulsan, South Korea. This vessel pays tribute to Ane Mærsk Mc-Kinney Uggla, the chair of the A.P. Moller Foundation and A.P. Moller Holding, with the naming ceremony featuring her eldest granddaughter as the godmother. The ship was christene IAPH appoints new director of business development The International Association of Ports and Harbors (IAPH) has announced the appointment of Nick Blackmore as the association's new director of business development. Blackmore's role will focus on the strategic and commercial development and marketing of IAPH's portfolio of products and services, including the Environmental Ship Index (ESI), the World Ports Conference and initiatives relating to t Kazakhstan introduces digital platform to enhance customs clearance processes at China-Kazakhstan border In December 2023, a groundbreaking initiative named Tez Customs was launched to revolutionize and streamline the customs clearance processes for transit cargo at the border of China and Kazakhstan. Spearheaded by the State Revenue Committee of the Ministry of Finance of Kazakhstan (SRC), in collaboration with JSC NC Kazakhstan Temir Zholy (KTZ) and Global DTC-a subsidiary of PSA International, a

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JANUARY 26, 2024

Hafnia and Mercuria form panamax pool BW Group's product tanker giant Hafnia, and commodity trader Mercuria have revealed a new panamax venture called Hafnia Panamax Pool. The duo will initially operate 10 ships with an average age of 13 years from their offices in the US, Europe and the Far East. The partnership is expected to launch in March aiming to ... Grindrod sells handy bulker as it strikes charter and purchase option deals Singapore-based bulker owner Grindrod Shipping has announced a sale of another bulk carrier as well as several charter deals. The Ed Buttery-led company sold the 2007-built handysize bulk carrier IVS Kingbird for $10.4m which, according to Grindrod is a 1.5% premium to carrying value. Delivery of the 32,600-dwt vessel to the new owners is expected ... Methane slip from gas-fuelled ships back in the spotlight Within the space of a week there have been three future fuel reports with very different takes on today's controversial leading alternative fuel, LNG. Likely grabbing the most headlines is an 80-page report from the Washington DC-based International Council on Clean Transportation (ICCT) which claims real-world methane emissions from LNG-fuelled ships are higher than current ... Industry-first forensic psychology service launches Germany's Mental Health Support Solutions (MHSS) has launched a forensic psychology service that will aid investigators in getting to the truth of potential crimes at sea. Headed up by clinical and forensic psychologist Julia Oppermann (pictured), the service will likely interest investigations teams at P&I clubs, shipowners and flags. Oppermann has spent time working on ... Geneva Dry Dialogues: Sea Christoffer Svärd is well aware of shipping's frustration at the fragmented nature of maritime tech. Clients are faced with a huge, confusing array of often repetitive solutions with little in the way of standardisation or actual holistic offerings. When he heads to Switzerland for Geneva Dry, Svärd, the Swedish chief commercial officer at freight fixing ... Why globalisation and its enemies matter Andrew Craig-Bennett channels a former paramount leader of China in reminding readers to seek truth from facts. People like to feel that they are right. It is far easier to get someone to agree with something by flattering them, and telling them that you agree with them than it is to try to tell them ...

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JANUARY 26, 2024

Trafigura-operated tanker battling fire in Red Sea after Houthi missile attack A product tanker operated on behalf of Trafigura, with only secondary links to UK and US entities, is battling a... The good, the bad and the ugly: the flagging standards of flag states Flag states have a legal and moral duty to enforce the hard won safety standards that underpin global maritime trade... LR2 rates hit levels last seen in Covid storage scramble Product tanker rates have surged of late, with LR2s pushing past $100,000 per day. The Baltic Clean Tanker Index reached... US destroyer intercepts missile as dark fleet tanker reports explosion Explosions sighted in the Gulf of Aden on Friday morning local time, Ambrey and UKMTO report. US Central Command says... Sanctioned ships briefly find a new home as Eswatini enters the flagging business Eswatini's nascent flagging business has taken in sanctioned Syrian vessels since it launched late last year and is offering seafarers... IMO progresses work to tackle underwater noise but rules out mandatory measures IMO finalises action plan to reduce underwater noise at the sub-committee on ship design and construction, while ruling out future... Shipping's chokepoints have far reaching implications Between the Black Sea and disruptions of the two key canals, shipping is facing severe challenges. The impacts on the... Regional Container Lines firms up boxship newbuilding contract Firm newbuilding contracts for 4,382 teu boxship quartet, priced at $56.6m apiece, follow the signing of a Letter of Intent... Box freight rates turn a corner After nearly two months of rises spot rate indices are beginning to reverse. Rates are now expected to continue to... World's first deepsea methanol-fuel boxship named Ane Maersk Maersk was the first shipowner to order dual-fuel methanol containerships. A total of 143 such vessels have now been contracted... Beijing repeats demand for Houthi restraint in Red Sea Beijing's official voice comes despite the Houthi's offer to assure the safe passage of ships from China and Russia, with... War risk market split on covering US and UK-linked vessels for Red Sea transits 'We have increased our threat assessment towards vessels representing states engaged in the anti-Houthi coalition, and it seems apparent that... Rotterdam fourth-quarter bunker sales fall to lowest in 15 years Conventional bunker fuel sales in Rotterdam at lowest since at least 2010, as fewer arrivals and higher prices than Singapore... Hanwha Ocean sees second worker death in a month Another subcontractor died after an explosion at the same shipyard two weeks ago Owners face greater challenges in covering bunker requirements Owners with urgent requirements who are not prepared to pay a premium may need to find alternative ports to bunker... Shipping starts scenario planning for long-term disruption The evolving situation in the Red Sea, with its rerouted ships, skyrocketing insurance and uncertain duration has largely prompted a... Senior Greek calls on builders and suppliers to 'try harder' for green solutions ETS, CII and EEXI are added headaches and do the industry no good in its quest for green shipping, says... Daily Briefing 'Toxic fleet' of US-sanctioned Russia dark fleet owner Hennesea Holdings means company is 'done' | Prominent shipbroker says 'everybody knows'...

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JANUARY 26, 2024

Unwinding post-Red Sea crisis supply chains will come with challenges: analyst While a resumption of Suez Canal transits would be welcomed, ports and inland infrastructure in Europe, the Mediterranean and along the US East Coast could be overloaded with cargo when carriers revert to traditional routings, warns Lars Jensen. Red Sea diversions drag carrier schedule reliability to 2022 levels Longer transit times caused ships to miss their arrival slots last month in ports across North Europe and the Mediterranean, and carriers have warned shippers to prepare for further disruption to their supply chains. Shippers urged to tether rate management with freight invoice processes to cut errors Most shippers use spreadsheets to manage rates from forwarders and container lines, which contributes to an inefficient process for freight payments and audits. Former Slync CEO Kirchner convicted by federal jury over misuse of company funds A guilty verdict against Slync founder Chris Kirchner brings closure on a saga that came to light when Slync employees went unpaid for weeks in spring 2022. Domestic carriers wade through murky market to start 2024 North American railroads and truckload companies are hopeful rates and demand will rise this year but say there's too much uncertainty in the market to offer a confident forecast. Asia-US carriers push for spot rate hikes in overheated pre-Lunar New Year market Liners are attempting to capitalize on tight vessel space at Asian load ports as well as the uncertainty over how long they will be forced to divert all-water services to the US East Coast around the southern tip of Africa.

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JANUARY 26, 2024

Warships arrive to aid Trafigura-chartered tanker after Houthi strike sparks fire Crew reported safe as they work to contain blaze on UK-owned ship Houthi strike sparks fire on Trafigura-chartered tanker in Gulf of Aden Crew reported safe as they work to contain blaze on UK-owned ship Houthis claim strike sparked fire on Trafigura-chartered tanker in Gulf of Aden Crew reported safe after reports of fire on UK-owned ship Shipowner takes stake in German football team Werder Bremen Martin Harren keeps up a shipping tradition by acquiring a slice of a major European football club Older bulkers are braving Bab-el-Mandeb while newer vessels divert Research by Arrow Shipbroking shows a clear trend emerging in the dry-cargo vessels passing through the area Podcast: Fighting over LNG labels and how the Houthis are hitting shipping's emissions The audio edition of Green Seas explores a debate over whether the EU's taxonomy should consider LNG green Houthi threat taking its toll on carbon intensity scores for tankers Technology firm finds higher speeds on diversion from Suez Canal threatens CII grade Headed to $90? Jefferies analyst latest to hike all things Scorpio on products surge Omar Nokta suspects clean giant may move sooner rather than later on cash-payout strategy Global crises prompt surge in shipping emissions, says UN Trade body says Red Sea and Panama Canal woes have highlighted the vulnerability of global trade to geopolitical shocks Easing of Red Sea crisis could see more disputes over route choices, shipowners warned Reed Smith's Nick Austin argues if Houthi threat lessens, there may be more disagreement with charterers over what is safe Editor's selection: Fractal boss speaks out, a pool power play and more VLAC orders A look back at some of the big stories of the week Shipping Corp of India to start $241m spending spree with first vessel purchase in six years Indian state shipowner recognises the need to rejuvenate tanker, VLGC, boxship and offshore vessel fleet Hafnia and Mercuria to convert LR1 pool fleet to ship dirty products New pool partners spy gap in the market for safe and efficient panamaxes 'Fishy things' at sea cannot be swept under the carpet, cold-case investigators say MHSS experts argue that transparency is increasing among shipowners Fake tanker stars in smash-hit Slow Horses Istanbul chase scene Vessel named Dundler is seen in opening episode of series three as spies race around it Viking Supply Ships exits PSV market by dropping management of last two vessels Sale of shares in vessel owning companies expected to make Swedish owner $17.5m in cash DNB hikes Hafnia profit forecast as product tankers push into multi-year upcycle Singapore shipowner's earnings 'set to stay high' Black swans bring shipping back as a mainstream investment Global disruption has changed investor views on shipping with negative world events usually having a positive impact on the industry UK awards $42m to maritime cleantech projects in latest funding round Government wants to position Britain as a leader in emerging technologies Tanker carrying Russian cargo and Trafigura ship avoid Gulf of Aden strike Explosion seen close to one of the ships from an apparent missile strike Maersk names first large 'methanol-enabled' vessel as liner sector braces for onslaught Boxship deliveries power ahead at a rate of one vessel a day UK Government awards £33m to maritime cleantech projects in latest funding round Cash comes from £206m UK Shipping Office for Reducing Emissions programme launched in 2022 Cheaper Singapore bunkers hurt Rotterdam fuel sales in 2023 But the port says it did see an increase in LNG bunkering as well as the first bunkering of biomethanol Dorian LPG shares come under pressure after weak update disappoints market VLGC owner downgraded to 'hold' by DNB on back of full valuation Collapsing VLGC rates could soon bottom out, shipping investor Hannisdahl believes Gersemi Asset Management principal argues gas price differentials are supportive of better spot rates than owners are banking US puts permitted LNG projects on ice as it reviews climate and economic impacts Climate activists fear approving new liquefaction will lock in fossil fuels reliance and increase methane emissions 'VLCC of the future' design team assembled by major Japanese shipowners Japanese operator joins with Nihon Shipyard, NYK and Iino Kain to deliver low-carbon emission vessel Record in sight: Red Sea crisis propels LR2 tanker rates into territory not seen since Opec+ price war But tanker curves suggest short-term impact on Middle East to Asia runs SCI to start $241m spending spree with first ship purchase in six years Indian state shipowner recognises the need to rejuvenate tanker, VLGC, boxship and offshore vessel fleet Red Sea impact rockets LR2 rates to over $100,000 But tanker curves suggest short-term impact on Middle East to Asia runs Hafnia links up with major trader Mercuria to form new panamax tanker pool Shipowner and trader will run 10-ship venture to bridge the gap in segment with rapidly ageing tankers Red Sea impact rockets LR2 rates to over $100,000 per day But tanker curves suggest short-term impact on Middle East to Asia runs DNB trims share price targets for BW LPG and Avance Gas after rates collapse But Norwegian bank says US-Far East arbitrage implies $60,000 per day rates, which could lead to an upswing 'US can drop all the bombs in the world': Egypt key to unlocking Red Sea shipping crisis Blue Ocean Partners chief says Cairo, not Washington, best placed to resolve conflict Next generation of LNG newbuildings will need to be capable of carrying ammonia Lloyd's Register director urges owners to to look at how to keep vessels compliant over their lifespan Grindrod Shipping cashes in on sale of older bulker Singapore shipowner looks to be in the money on one vessel acquisition Tanker major KOTC sticks to Red Sea route, for now Kuwait Petroleum's shipping unit assessing safety on a daily basis MOL secures finance for six newbuildings on the back of sustainability framework Transition loans take into account meeting greenhouse gas reduction targets Timber trader briefly arrests Chinese-owned handymax bulker in Singapore Prosperity 102 had a short spell under arrest this week, although a seized Chinese tanker continues to languish 'Lending for lending's sake has to stop', say banks as rules and decarbonisation bite European and US bankers warn that loans will not get cheaper despite competition and the prospect of falling base rates Cheaper Singapore bunkers hurt Rotterdam fuel sails in 2023 But the port says it did see an increase in LNG bunkering as well as the first bunkering of biomethanol VLSFO bunker premiums soar in Singapore due to Red Sea diversions Strong demand for VLSFO bunker tankers in the world's top bunker port is tightening fuel schedules Price pressures will push consolidation from public to private shipowners, says top banker 'It does not mean being a small shipowner will be impossible, it will just be more expensive' Great Eastern frees tanker from mortgage linked to $36m bond series Trustee releases MR vessel as security for 10-year non-convertible debentures Foremost Group joins elite group of early movers ordering methanol-fuelled bulkers New York-headquartered owner books four kamsarmaxes worth about $168m

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JANUARY 26, 2024

Red Sea-driven surge in container shipping rates loses momentum Spot rates remain very high, but appear to have plateaued. The question ahead: Will they fall back after Chinese New Year?