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FEBRUARY 29, 2024

PM lays foundation stone and dedicates to nation multiple development projects in Thoothukudi Unmesh Sharad Wagh, Chairman I/C, JNPA to grace CONquest 2024 in New Delhi next week YOU ASK.. WE ANSWER... Tripura to be the gateway to SE Asia via Chittagong Port: CM Coal Logistics Plan & Policy to be launched today Red Sea disruptions seen continuing into second half of 2024 US FMC publishes final rule on detention and demurrage billing practices

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FEBRUARY 29, 2024

Automotive focus Intermodal service Alsace - Belgium launched Codognotto conquers Dubai Economic waves hit Hamburg port Röhlig: financial success in 2023 Encouraging results for sustainability efforts Two new gateways for groupage deliveries Mycrane goes for growth in the USA Unity in shipping renewed until 2032 Aramex gets a tech update Less CO2, more capacity, reliable transit times In-house news from the ITJ Changes within the Stef group "Curiosity of the Day" Bilbao Port at Empack 50,000,000 shipments cleared in three years Handing over a Hesse hub Up to 15% less fuel

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FEBRUARY 28, 2024

Ocean carriers pile on capacity and dominate intra-Europe shortsea market DHL break-up; M�rsk spin-offs; 'forwarder + integrator' - or not... Land grab from DP World terminal costs Belgian port €41.3m in fines Box lines in legal battle with South Korea's antitrust body over fines Bolloré's contract logistics arm buys French pharma specialist SLS As Amazon fails to deliver and freighters return, ATSG sees profits tumble World Group's Joey Palmer and Duncan Wright move up as co-CEOs DSV - the race to the bottom Boardroom battle at Norfolk Southern heats up as rail regulators weigh in Nabil Sultan moves to pax as Emirates SkyCargo sees team changes

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FEBRUARY 28, 2024

USCG won't enforce controversial CARB CHC regulation The California Air Resources Board (CARB) continues to get push back on a commercial harbor craft (CHC) regulation slammed as "unworkable" and "deeply flawed" by the American Waterways Operators (AWO), even before Floating wind MFSV design gets ClassNK approval After SOVs and CSOVs, here comes a new category of offshore wind service vessel. ClassNK has awarded an approval in principle (AiP) for the design of a multi-functional floating offshore wind farm EPA launches new $3 billion Clean Ports Program The U.S. Environmental Protection Agency today launched the $3 billion Clean Ports Program to fund zero-emission port equipment and infrastructure to tackle the climate crisis and improve air quality at U.S. ports C-Innovation selected to support new Titanic expedition RMS Titanic Inc., the company that holds the salvage rights to the RMS Titanic wreck, has selected Edison Chouest Offshore associate C-Innovation to support its 2024 imaging and research expedition. Scheduled for

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FEBRUARY 28, 2024

Port of Melbourne handles nearly 270,000 TEUs in January The Port of Melbourne reported an increase in total container throughput for January 2024 compared to the same month last year, totalling 269,044 TEUs. Full container imports (excluding Bass Strait) showed growth from the previous year with higher volumes observed in furniture, metal manufactures, domestic appliances, and paperboard. However, full container exports (excluding Bass Strait) saw a d The Mission to Seafarers appoints new Secretary General The Mission to Seafarers (MtS) has revealed that Peter Rouch will assume the position of Secretary General. Peter Rouch will take the duties from Andrew Wright, who is set to retire from the position in September after nearly twelve years of service as the organization's leader. "I am very grateful indeed to have been invited to become Secretary General of The Mission to Seafarers. It is a charit Port of Hamburg sees declined container traffic in 2023 In 2023, the terminals in the Port of Hamburg handled a total of 114.3 million tonnes of goods with seaborne cargo throughput 4.7% below the level of the previous year. At the same time, container throughput amounted to 7.7 million TEUs, decreasing by 6.9%. Despite the overall decline in cargo throughput, hinterland traffic to and from the German port remained relatively resilient in 2023. Record Fundación Valenciaport's study advances ammonia as ship fuel Fundación Valenciaport has initiated a study titled 'Investigating the Safety of Ammonia as Fuel on Ships' aiming to establish the foundations for utilizing ammonia as a ship fuel. The study will encompass methodologies, safety assessments, and reliability analyses, along with the development of technical guidance to promote standardization within the port logistics sector. Specifically, the proj Top 10 Shipowning Nations VesselsValue unveils this year's top 10 shipowning nations, reviewing the total asset values for vessels by beneficial owner country. From Japan's resolute leadership in the top position with a US$206.3 billion fleet to the emergence of Hong Kong at US$44.7 billion, asset values and ownership strategies have changed considerably over the last 12 months. Japan Japan continues to lead, taking numbe New container line starts operations in Saudi Arabia A new shipping company has started operations in Saudi Arabia, called Folk Maritime, offering feeder vessel services and short-sea transportation solutions. Poul Hestbaek is the first chief executive officer (CEO) of Folk Maritime. Hestbaek is a former CEO of Maersk-owned box line Hamburg Süd and left the Danish shipping giant in August 2023. The new box carrier is expected to provi DNV and zero44 forge partnership for EU ETS compliance zero44, a software start-up focused on decarbonization, has teamed up with DNV's Veracity maritime cloud platform to jointly assist clients in managing compliance with the European Union Emission Trading System (EU ETS). The software of zero44 is specifically tailored to Greenhouse Gas Emission (GHG) regulations, offering functionalities for overseeing EU ETS obligations by monitoring allowances Red Sea crisis sees more vessels serving intra-Europe Intra-Europe container shipping capacity has gone up nearly 18% year-on-year, as the Red Sea crisis results in more feedering and larger ships being assigned to this segment, according to Alphaliner. There are now more than 170,000 TEUs serving the intra-Europe market, as the number of ships in this segment increased from 581 to 645. In the past year, the average size of a container ship operatin Portsmouth International Port selects ABB's shore connection solution ABB, a technology leader in electrification and automation, has secured an order from Portsmouth International Port for a shore connection solution for ferries and cruise ships visiting the port. As part of the port's Sea Change project, aimed at implementing a shore power system across its three busiest berths, the installation will cater to two ferry berths, each equipped with five connection p OOCL, Sumitomo Corporation launch refrigerated ocean transportation service utilizing electric field technology Tokyo-headquartered electric services company Sumitomo Corporation and Hong Kong-based container carrier Orient Overseas Container Line (OOCL) signed a business alliance agreement, aiming to offer refrigerated ocean transport services utilizing electric field technology, ensuring the preservation of freshness of various commercial products. According to the announcement, the international transpo APM Terminals invests US$1 million in electric vehicle fleet upgrade APM Terminals has announced a significant advancement in its terminal operations fleet by transitioning to electric vehicles (EVs). With an investment of nearly US$1 million, the terminal has replaced 28 internal combustion engine vehicles with brand-new, all-electric Volkswagen ID.4s. This shift towards electrification of its passenger vehicle fleet reflects Pier 400's dedication to aligning its Cargo volumes in Red Sea drop significantly due to vessel attacks "During the first seven weeks of 2024, cargo volumes to and from ports in the Gulf of Aden and Red Sea declined 21% y/y. The number of ships arriving in these ports significantly declined as merchant shipping increasingly avoided transiting through the region due to concerns over attacks on ships by the Houthis," stated Niels Rasmussen, chief shipping analyst at BIMCO. Since November 2023, Houthi Koerschulte Group launches Germany's first automated drone delivery service On Wednesday, 21 February 2024, the Koerschulte Group launched Germany's inaugural fully automated drone delivery service in Lüdenscheid. This innovative venture, supported by HHLA Sky, a subsidiary of Hamburger Hafen und Logistik AG (HHLA), oversees flight operations from its own integrated drone control centre. After two years of intensive development, the first commercial drone delivery airlin

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FEBRUARY 28, 2024

DHT orders four VLCC newbuilds from South Korea New York-listed tanker giant DHT Holdings has entered into agreements to build four very large crude carriers (VLCCs) in South Korea with delivery expected between April and December 2026. Two will be constructed at Hyundai Samho Heavy Industries while the other two will be built by Hanwha Ocean, both in South Korea. The average price for the ... Mission to Seafarers elects new secretary general The Mission to Seafarers, a Christian maritime welfare charity, has announced that its new secretary general will be Peter Rouch. Rouch will succeed Revd Canon Andrew Wright who will retire from the role in September this year after almost 12 years at the helm of the organisation. The new secretary general will join the Mission ... Avance Gas seals one-year fixture for dual-fuel VLGC Oslo-listed very large gas carrier (VLGC) specialist Avance Gas has struck a new one-year charter with an energy major for its LPG dual fuel . The 2022-built 91,000 cu m ship has been on a two-year variable time charter with TotalEnergies since delivery. The new contract will start at the end of February in direct ... DeepOcean awarded Equinor pipeline survey contract Norwegian ocean services provider DeepOcean has secured a survey contract from Equinor on the operator's gas pipelines in the North Sea. Under the contract, valid for 2024, DeepOcean's scope of work covers pipeline inspections, seabed mapping, and ad-hoc pipeline survey and light construction work. The latest deal with an undisclosed value is an additional award ... Missiles hit stranded Turkish ship in Ukraine A Turkey-flagged general cargo vessel, that has been stranded for more than two years in Ukraine was struck by missiles in the port of Kherson. The missiles, likely launched by Russian forces, rocked the 1990-built owned by the Istanbul-based Kuruoglu Denizcilik while moored at the port. The 7,634 dwt vessel arrived in Kherson on February ... Eastern Pacific uses up options for LNG dual-fuel tankers and ammonia-powered bulkers Singapore-based Eastern Pacific Shipping (EPS) has placed an order for two LNG dual-fuel oil tankers and four ammonia dual-fuel bulkers with Chinese shipyards. The Idan Ofer-controlled diversified shipowner ordered two 111,000 dwt LNG dual-fuel LR2 product tankers from CSSC Guangzhou Shipbuilding International (GSI). In June last year, the company ordered two such vessels from the ... Jumbo and SAL welcome Intermarine into heavy lift alliance Dutch maritime heavy lift transport and engineering contractor Jumbo Shipping and German breakbulk and project cargo specialist SAL Heavy Lift have formed a new joint venture with liner operator Intermarine. Jumbo and SAL Heavy Lift have already been partners in the Jumbo-SAL-Alliance since 2021. From March 1, Intermarine will join the now named JSI Alliance ... Port of Antwerp-Bruges to pay more than $44m in DP World concession dispute The port of Antwerp-Bruges will have to pay €41.3m ($44.7m) plus costs and interest to DP World under a ruling in an arbitration case at the International Centre for Settlement of Investment Disputes (ICSID). The record fine, which could ultimately amount to up to €100m, is the conclusion of a seven-year concession dispute at the ... Esvagt forges Korean offshore wind partnership with KMC Line Danish offshore shipping player Esvagt is entering the Korean offshore wind market through a tie-up with domestic shipping company, KMC Line. The two companies have signed a letter of intent to work together in unlocking the potential for renewable energy production in Korea. The deal was penned in the presence of the Korean ambassador in ... Gulf Marine Services clinches new vessel deal and a contract extension London-listed liftboat operator Gulf Marine Services (GMS) has signed a contract extension for one of its vessels currently operational in the Middle East and received a letter of award for another vessel operating in the same region. These two awards span a combined period of 5.2 years and the total company's backlog has now reached ... Tobago oil slick spreads more than 800 km west Heavy fuel bunker oil leaking from a mysterious 48-year-old capsized barge off the coast of Tobago has spread hundreds of kilometres west to reach the east coast of the Dutch Caribbean island of Bonaire, while authorities in Aruba, another Dutch island, are on alert for the slick washing up on their shoreline too. Officials on ... RWE forms offshore wind fleet servicing team German utility RWE has decided to establish an initial 30-person dedicated fleet servicing team for the UK and Germany to support its growing international offshore wind fleet. Initially focused on five operational projects off the UK and German coasts, the team will secure new, long-term jobs, and have the potential to grow further in line ... China, Japan and Greece in a league of their own in latest shipowning charts Which nation has the world's most valuable commercial fleet? Two of shipping's best-known data providers cannot agree. VesselsValue yesterday unveiled its top 10 shipowning nations, reviewing the total asset values for vessels by beneficial owner country. Japan was at the top of the league, its fleet growing in price by 5% over the past four ... Indian-classed fleet more than doubles since Putin's full-scale invasion of Ukraine In the two years since Russia's full-scale invasion of Ukraine, the number of ships classified as shadow or dark has leapt, and Western service providers have pulled back from working with a significant tranche of the merchant fleet for fear of being hit by sanctions. However, the total amount of ships classified by members of ... Shipping's largest, most fragmented sector faces up to consolidation realities Shipping's largest sector - dry bulk - has experienced some very significant merger moves in recent months, which many believe is just the start of a period of consolidation for the highly fragmented industry. Analysis of dry bulk mergers as an ongoing trend forms the lead for the February issue of Splash Extra, our subscription-based ... Dry bulk seen entering period of consolidation Shipping's largest sector - dry bulk - has experienced some very significant merger moves in recent months, which many believe is just the start of a period of consolidation for the highly fragmented industry. Dry bulk remains the least consolidated of all the merchant shipping segments, with the largest listed dry bulk concerns having no ... You'll be paying for all this maritime tech consolidation We've been covering the consolidation within the maritime tech space closely over the past 18 months. While many have been saying it is much needed to make more uniform, standard offerings, the end customer might question this when the dust settles and bills rise. The past few years have seen an over-saturation of platforms and ... February 2024 Review The Houthis continued to hound merchant ships in the Red Sea and the Gulf of Aden, getting better with their target practice. Close to 60 ships have now been targeted since October. The European Union agreed to send a naval group to the area. An Egyptian former employee shot three people dead before killing himself ... Tankers: What goes up can still go up Against the backdrop of war in Ukraine and Gaza, ship operators have so far this year benefited from rising freight rates, though disruption and uncertainty also bring an enhanced element of volatility to the markets. Despite punitive responses from the US and allied navies, Houthi groups in Yemen say they will continue to attack international ... Auspicious signs for dry cargo in the Year of the Dragon The Lunar New Year holiday bit into chartering activity for the vital capesize segment, depressing the Baltic Dry Index from its January 1 level of 2,093 points to a low of 1,308 on January 17 since when it has risen 43% to 1,866 points. Charterers have been busy booking cargoes in all segments and on ... Containerlines get no sympathy from shippers As Diana Shipping joined the list of operators avoiding the Red Sea, CMA CGM complained about how the conflict related revisions to schedules has forced up costs for liners such that inflated freight rates may not be high enough to run operations profitably when higher time charter, fuel and emissions costs are eating into margins. ... Analyst Abstract Tankers It's been a very solid month for crude and product tankers with China noticeably back in big buying mode. Rates for multiple tanker classes are at highs not seen for many months. McQuilling's prevailing view for the crude tanker markets favours mid-sized tankers over VLCCs in 2024 as major VLCC hubs - Middle East ... Buoyant bulkers lead the way A sign of a buoyant market is when secondhand prices edge closer - and occasionally surpass - newbuild prices. Witness the dark blue line jumping up close to the red newbuild line in the Clarkson chart below as evidence that shipping is very bullish about prospects in the Year of the Dragon, desperate to snaffle ... The rise of the seaborne ammonia trades The global trade of ammonia is increasing every year with a rise in trade projected until at least the middle of the century. With ammonia becoming a more popular player in the energy and agricultural industry along with a role in decarbonisation efforts, maritime transport will have to follow suit with a much-needed spike in ... How one maritime AI research project could cut 1% of total global emissions Sorry, what did you say? Bjørn Åge Hjøllo, chief sustainability officer at e-navigation specialist NAVTOR, smiles in recognition of the obvious disbelief. He tries again: "I said that this project has the potential to cut 1% of all global emissions." 1% of all shipping emissions? "No, 1% of total global emissions... for everything." This may ...

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FEBRUARY 28, 2024

Panama Canal auction costs more than double in February The average price to secure a neopanamax transit slot has more than doubled since the beginning of February to more... US to invest $3bn in clean port infrastructure US EPA will make $3bn in funding opportunities available, $2.8bn of which directed to fund zero-emission port equipment and infrastructure... DHT inks deals for $514m VLCC newbuilding quartet with options for four more New York-listed very large crude carrier pure play DHT Holdings has inked deals for four new VLCCs with Hyundai Samho... CoolCo expects demand tailwinds as more LNG heads east in second half New York-listed CoolCo forecasts seasonal upswing in the second half of the year will be boosted by longer voyages as... Wright to step down from Mission to Seafarers' top job Mission provides practical support in 200 ports across 50 countries Marinakis inks new $1bn deal for LNG carriers Four 174,000 cu m vessels to be built by Hyundai Samho brings the number of new LNG carriers ordered by... Dry bulk delight helps Golden Ocean to earnings beat Golden Ocean has reported strong fourth-quarter earnings amid a robust finish to the year in the dry bulk segment. The... Swedbank signs up to Poseidon Principles Initiative designed to integrate climate considerations into ship finance decisions Just one seafarer in eight on Chamber of Shipping vessels is UK national RMT union claims figures demonstrate 'super exploitation' Stathes Kulukundis, 81, 'epitomised London Greek shipping community' During long career, R&K director 'added gravitas' to a host of organisations including Greek Shipping Co-operation Committee and International Chamber... India wants to stamp out resurgent Somali piracy with new naval action mandate The nascent resurgence of Somali piracy represents a viable and imminent threat to freedom of navigation and commercial shipping, according... Shipping 'bouncing in cash' but doesn't know where to invest Shipping has benefited from Red Sea disruption and geopolitical black swans but high asset values is making opportunities hard to... Heightened security threat accepted norm for Ukraine's Black Sea traders A security threat is always present given the war, but those that ply the Black Sea route to and from... Rubymar owners defy Houthi threats in final bid to save sinking bulker The heavily damaged, listing and leaking bulker Rubymar will be towed to either Aden or Jeddah, regardless of Houthi threats... MISC gains from strong gas carrier and tanker markets MISC expects softer market conditions for the LNG sector in the near term due to firm fleet growth, while the group... Yangzijiang Shipbuilding sees clear skies ahead after surging profits Alternative fuel shift is expected to anchor growth for Yangzijiang after a banner year Chinese crane maker ZPMC appoints new chairman amid US cyber security accusations Leadership change comes as China-made cranes are being targeted by the US citing cyber security risks Daily Briefing US courts Asian allies to rebuild shipbuilding prowess as China powers ahead | US sanctions two tankers linked to Iranian...

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FEBRUARY 28, 2024

APM looks to ease trucker woes over New Jersey terminal appointment system APM Terminals will make more slots available for retrieving import containers at its Port Elizabeth site as truckers say delays in booking appointments are worsening. Cosco to partner in ONE's upcoming India-US East Coast WIN service: sources The move makes sense, according to a Mumbai-based source, as ONE needs a partner to fill space and Cosco needs a strong service out of India. Carrier on-time service levels plummeted in January amid Red Sea crisis A drop in schedule reliability was expected on trade lanes such as Asia-Europe and Asia-US East Coast, but the diversions around southern Africa have also affected routes not directly connected to the Red Sea. New Saudi feeder line to tap into Red Sea-driven changes in demand Folk Maritime's stated goal is to "fill an essential void" in the regional maritime market, with its launch coinciding with heavily disrupted container shipping flows. RK Logistics joins wave of 'tuck-in' acquisitions to reach East Coast As California-based RK Logistics' high-tech customers move east to new markets, the logistics provider is following by buying New York-based On Time Trucking.

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FEBRUARY 28, 2024

Intermarine joins Jumbo-SAL venture to forge 50-ship 'powerhouse' JSI Alliance combines three companies' commercial activities and fleet of multipurpose and heavylift vessels Fixing shuttle tankers is more lucrative than selling them, KNOT Offshore boss Lowe says US-listed owner is trying to find new employment for vessels but has not ruled out disposals Samudera Shipping's second-half profit slumps 77% on weaker liner market Singapore-listed shipowner continues to modernise and diversify fleet to improve competitiveness Capesize spot rates and futures shoot up as the cargo just keeps coming Average daily spot rates are tantalisingly close to $30,000 for capesizes Washington sanctions first shipowner for supporting Houthis since terrorist designation Vessel accused of ship-to-ship transfer with another sanctioned tanker Anglo American's new capesize dual-fuelled fleet clocks up over 30 LNG bunkerings Global miner marks handover of final ship in pioneering 10-vessel order Shipping banks with 'firepower' see lending opportunities coming Shipowners can get good loan conditions as lenders compete Happy shareholders? Analysts wait to see how Hafnia will use huge upcoming profit Pareto Securities tipping big pay-outs for investors in booming product tanker markets 'Critical' capacity issue: Italian navy tenders for tanker to store and ship fuel Vessel will operate for navy for a year, before ownership transfer Trading giant Trafigura makes VLCC debut with order at Chinese yard Global commodities trader turns to large tanker shipyard newcomer Jiangsu New Hantong for first ships CoolCo expects LNG charter market 'bounceback' as shipping distances lengthen Charterers starting to rethink their requirements on back of Panama and Suez Canal disruptions DHT confirms Hanwha VLCC double and reveals Hyundai order in potential $1bn eight-ship splash US-listed owner goes for super-eco tankers at South Korean yards with contracts including four optional vessels Shipping investors facing tough choices, says Borealis' Toepfer Time to be defensive, Marine Money panellists say Alleged Iranian spy ship gets by with a little help from Djibouti The vessel said to be feeding Houthis intelligence made a slight detour this month Golden Ocean primed to pounce on expected spot rate rise following 'tug of war' 2023 Analysts have praised the shipowner's 'strong' level of forward coverage for this year so far Avance Gas bets on spot market by stretching variable rate VLGC deal with TotalEnergies John Fredriksen company aims to profit from lower fuel consumption and cheaper LPG bunkers Clyde & Co 'failed to join dots' to spot failures in dirty money checks Tribunal gives reasons for record fine for law firm's shortcomings in anti-money laundering procedures Shipyards 'agree to disagree' in $8m patent dispute Dispute between ropax shipbuilders is understood to be related to the structural design of a ferry Podcast: Chemship installs Econowind sails and Norsepower grows as wind becomes 'the technology of 2024' On board Chemical Challenger as four suction sails fitted to help reduce fuel bills and greenhouse emissions Expectations muted for Frontline profit but first quarter is when full tanker power will be seen Analysts say the 24 VLCCs bought from Euronav should transform earnings this year Procopiou's Sea Traders extends newbuilding run with bulker quartet Shipowner lifts kamsarmaxes on order at Hengli Heavy to 14 ATL bulker arrested in India for hitting German boxship off Istanbul In what some claim is a legal first, vessel is held over collision that occurred 5,800 km away George Procopiou's Sea Traders extends newbuilding run with bulker quartet Shipowner lifts kamsarmaxes on order at Hengli Heavy to 14 Avenir LNG sees 'explosive' bunkering demand exceeding ship capacity in early 2025 Company targets top spot in LNGBV operation Red Sea disruption and crash payout powers Awilco LNG to record profit LNG carrier owner expects a better rate for its first open ship this year Missiles strike and damage stranded cargo ship in Ukraine The 34-year-old general cargo ship has been immobilised in Kherson for two years Swedbank joins Poseidon Principles reporting as green lending momentum grows Swedish lender becomes 35th bank in group aiming to decarbonise their portfolios VLCC newbuilding price hits 'post financial-crisis high' as DHT breaks Hanwha Ocean drought Owner is said to have ordered up to four scrubber-fitted ships Houthi attacks on Red Sea shipping force VLGCs back to Panama Canal Cost of auction slots has risen sharply in February but remains below the peak of late 2023 London Greek stalwart Stathes Kulukundis dies aged 81 Scion of one of Greece's best-known shipping families was a long-standing member of the GSCC Hoegh family pockets $100m after cashing in on rising Hoegh Autoliners stock Family keeps leading shareholding position even after selling 6% of all shares Class NK software house NAPA on the hunt for new partnerships NAPA Studios to help companies seeking new ways to work collaboratively on decarbonisation challenges Ex-Hamburg Sud boss Hestbaek launches Red Sea container line amid vessel exodus Folk Maritime starts feeder services at dangerous time for ships in the region Class NK software house NAPA launches on the hunt for new partnerships NAPA Studios to help companies seeking new ways to work collaboratively on decarbonisation challenges Hoegh LNG sold out on FSRUs but looking at new projects in 'strong' market Company nets short-term charter for its conversion candidate Hoegh Gandria Red Sea disruption and crash pay-out powers Awilco LNG to record profit LNG carrier owner expects a better rate for its first open ship this year Houthis release photos of stricken Rubymar as Greek bulker reports missile attack Damaged ship's broker says owner is examining how to fix breach in hull Golden Ocean confirms vessel sale and sizes up its dividend Bulkier owner has raised more debt to fund capital expenditure and keep paying out to shareholders CoolCo meets headwind for LNG newbuildings charters as annual figures soar Company logs its highest time charter equivalent level in fourth quarter Saverys' CMB.Tech stacks giant bulker orderbook with ammonia-fuelled newbuilds Saverys-backed company brings newcastlemax orderbook at Qingdao Beihai to 26 ships Jovo Energy expands LPG play with $180m S&P deal Two VLGCs acquired from Fortune Oil are just a part of Chinese trader's seaborne capacity expansion Samudera Shipping's second half profit slumps 77% on weaker liner market Singapore-listed shipowner continues to modernize and diversify fleet to improve competitiveness Favourable exchange rates and rise in shipbuilding revenue lifts Yangzijiang's net profit Higher value contracts see Chinese shipbuilder's revenue increase despite lower number of deliveries ATL bulker arrested in India for bashing German boxship off Istanbul In what some claim is a legal first, vessel held over collision that took place outside of Indian jurisdiction Greek shipowners still dominate Red Sea transits, Veson Nautical data shows But the make-up of users has changed The flaws at the heart of Russian shipping sanctions Tightening the screw on tanker operators hauling Russian oil could trigger a new scramble for available tonnage MOL reveals carbon capture and e-fuel re-export plan in Japan and Australia Japanese owner teaming up with big hitters for circular green shipping plan

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FEBRUARY 28, 2024

Freightos loses $19M, eyes profit breakthrough in late 2026 Electronic freight booking and data company Freightos says a virtuous cycle of growth will enable it to become profitable within a few years. OpenTug raises $3.1M to grow marine operator network Seattle-based OpenTug says it serviced over 3 million tons of marine cargo across 25,000 miles of U.S. marine highways in 2023. Is Wall Street warming back up to containership line Zim? Spot rates are back above breakeven and Zim's costs are falling. 25% more containers out of LA/Long Beach ports possible: ITS Logistics Multiple looming factors in maritime could impact the upcoming contract season, boosting capacity at the ports of Los Angeles and Long Beach.