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JANUARY 30, 2024

Alarm raised on global trade disruptions, crises affecting key routes Customs 2.0 on the anvil: Revenue Secy Nagarkot Forwarders receives Certificate of Appreciation from Mumbai Customs on occasion of International Customs Day HPL and Haldia Port reaffirm commitment amidst challenges FIEO's pre-Budget proposal for 2024-25, by President (Officiate) Israr Ahmed, also calls for developing a global Indian shipping line Chennai Port handles all-time record cargo in a single day MSC adapts its East-West network to the situation in the Red Sea Mutual Recognition Agreements with 10 countries in the offing India's economy seen growing rapidly in 2024: Survey DBGT ends 2023 with enthusiasm Noatum launches new logistics brand in the Middle East India the largest petcoke importer ZIM launches ZPX independent service connecting Asia, Canada & the US via Vancouver gateway DP World launches global platform as part of $35 million investment in education COSCO SHIPPING (Europe) joint venture acquires leading Italian integrated logistics company

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JANUARY 30, 2024

It takes two to tango Four weekly roundtrips to Rotterdam Haropa stayed on target in 2023 Changi takes stock Automating paperless customs handling Container flows better than expected An active year for Bertschi Changes at Chep Piloting wholesales to a new level Truckport opened in Houston A rebranding in the Middle East Iloilo, Philippines, before the great leap Roman Fürtig follows Stefan Kunze "Curiosity of the Day" A Euro Dual to expand construction site logistics Cargo volumes rise for the third year in a row Facilitating China-Europe e-commerce Daher picks two new managers ONE opts for ammonia

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JANUARY 29, 2024

Angry importers hit by delivery delays and rising costs, but rates are softening Superdry looks to cut logistics costs amid 'unprecedented challenges' DP World offers UK shippers £100 per box as modal shift incentive Flying high with DHL Rates boom and alliance shake-up strengthen objections to HMM sale Yield decline wreaks havoc on cargo earnings of big three US airlines DP World under the spotlight - the rat race down under India-US perishables trade soars as 'political' tariffs are lifted Order for ammonia-fuelled box ship a vote of confidence from ONE OceanX: Viva España; rates zenith; Gemini partnership triggers memories EU emissions reporting delay is 'kicking the can down the road' Leo Teplitskiy new director of key cargo accounts Americas at Chapman Freeborn Air cargo community mourns NY leader Dan Muscatello

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JANUARY 29, 2024

CBP ruling clears way for Mexican LNG exports from Altamira Fast FLNG to Puerto Rico U.S. Customs and Border Protection (CBP) rulings on Jones Act compliance are always controversial, but New York, N.Y., headquartered New Fortress Energy Inc. (NASDAQ: NFE) has welcomed a CBP ruling confirming that Saltchuk makes a new offer for OSG Privately held, Seattle-headquartered Saltchuk Resources Inc. has made a new offer to acquire NYSE-listed tanker and ATB operator Overseas Shipholding Group Inc. (OSG). Saltchuk, which is OSG's largest shareholder, made an earlier

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JANUARY 29, 2024

Associated British Ports commences works on Millbay Docks revitalisation project Associated British Ports (ABP), the largest port operator in the United Kingdom, launched the initial phase of the Millbay Docks transformation within the Port of Plymouth. This marks the commencement of projects funded by the UK Government as part of the Plymouth and South Devon Freeport seed capital programme. "The start of this development, made possible by government funding for Plymouth and Port of Antwerp now handles 16-meter draft boxships After three years of efforts to prepare the Antwerp port for container ships with a 16-meter draft, the Belgian port is now ready to welcome the largest vessels during its regular operations. The successful completion of six test voyages, culminating in MSC Raya's passage in the Deurganck dock on November 10, 2023, paved the way for this achievement. MSC Aurora made history as the first container PIL first to fully integrate with SGTraDex, partnering with KPI OceanConnect Pacific International Lines (PIL) has achieved a significant milestone by completing full integration with the Singapore Trade Data Exchange (SGTraDex) platform. In collaboration with KPI OceanConnect, this accomplishment marks a transformative leap toward global digitization in PIL's maritime operations. The integration, initiated in early 2023 and finalized in December of the same year, empower Noatum launches new logistics brand in Middle East AD Ports Group's Noatum has launched Noatum Logistics Middle East, the company's new brand in the Middle East region. The new brand takes over from MICCO Logistics, which has served the Abu Dhabi and the GCC markets with distinction for over four decades, and which has been the freight forwarding arm of AD Ports Group's Logistics Cluster since the company's acquisition in 2020. With strong ties t Maersk appoints new regional president for North America A.P. Moller - Maersk has announced the appointment of Charles van der Steene as the new regional president for North America, effective from 1 February. With the move, van der Steene will join the company's executive leadership team. A logistics industry veteran, van der Steene joined Maersk in 2011 with global experience in commercial leadership, operations, and general management. He previously ONE receives approval for ammonia dual-fuel vessel Ocean Network Express (ONE) announced that it has received Approval in Principle (AiP) for a vessel equipped with Ammonia Dual-fuel technology. This achievement, combined with ONE's investment in 12 methanol dual-fueled vessels, represents a significant stride in ONE's commitment to achieving net-zero emissions by 2050, according to the company's statement. The newly AiP-awarded 3,500 TEU vessel Yang Ming not tempted to charter ships amid Red Sea crisis Taiwanese liner operator Yang Ming Marine Transport will not follow its peers and charter in more ships to capitalise on the Red Sea crisis. Speaking at a seminar organised by Chung-Hwa Institution for Economic Research on 24 January, Yang Ming chairman Cheng Cheng-mount said, "There is still a tonnage overhang, but the Red Sea crisis that has caused many ships to detour round the Cape of Good Ho MSC strengthens its Europe - South Africa network Aiming to improve its Europe - South Africa network, MSC has announced the enhancement of its NWC to South Africa Service, effective from March, and the launch of a new feeder service in the area. The current rotation of the NWC to South Africa Service will see a significant improvement with the addition of a direct call at the port of Bremerhaven in Germany. This change will increase flexibility CN analysis: Container freight rates out of India continue to soar amid Red Sea crisis The boost in container freight rates seen on trades out of India as a consequence of the Red Sea crisis has accelerated in recent weeks, according to the latest market analysis by Container News . On the westbound India-Europe trade, average short-term contract rates from West India [Jawaharlal Nehru Port (JNPT)/Nhava Sheva or Mundra Port] to Felixstowe/London Gateway (UK) have soared to US$3,600 ABB expands marine software portfolio with acquisition of weather routing firm ABB, a technology company in electrification and automation, has announced a strategic agreement to acquire the shipping business of DTN Europe BV and DTN Philippines Inc., known as DTN Shipping. This move is set to position ABB as a key player in ship route optimization, enhancing its capabilities in maritime software. The acquisition encompasses vessel routing software, including analytics, rep

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JANUARY 29, 2024

Golden Energy Offshore clinches North Sea PSV contracts Oaktree-backed Norwegian owner Golden Energy Offshore Services (GEOS) has secured contracts from an oil major for two of its platform supply vessels. The Oslo-listed, Alesund-based company has fixed the 2015-built Energy Paradise for six months and the 2016-built Energy Passion for one year to work in the North Sea. The contracts for both ships acquired ... Saltchuk in second attempt to take OSG private Saltchuk has revived its interest in Overseas Shipholding Group (OSG) after dropping its pursuit of the Tampa-based company in September 2021. The Seattle-based owner of TOTE and Foss has returned to the New York-listed operator of Jones Act tankers and oil tug barges with a non-binding offer to buy all its outstanding shares for $6.25 ... Japanese reveal plans to slash emissions from oil imports Four Japanese players have joined forces to design and build a low-carbon emission very large crude carrier (VLCC). Idemitsu Tanker, the shipping affiliate of Japan's second-biggest oil refiner, Idemitsu Kosan, has formed a consortium with fellow shipping lines Iino and NYK and builder Nippon Shipyard with the goal of slashing greenhouse gas emissions in a ... Panagiotidis family member picks up Castor bulker pair Cyprus-based owner Castor Maritime has sold two of its 2010-built panamax bulk carriers to family members of its chairman and CEO, Petros Panagiotidis. The Nasdaq-listed outfit is shipping out the 78,800 dwt Magic Nova for $16.1m and the 76,600 dwt Magic Horizon for $15.8m after buying the vessels for a reported $13.86m and $12.75m, respectively, ... European Energy gives up on two wind projects offshore Denmark Danish renewables company European Energy has decided to drop plans regarding the development of its Omø Syd (Omø South) offshore wind project. The company has been developing the project for ten years and had the EIA approved back in 2020. However, the Danish government at the time was preparing to designate the area as a ... Prosafe flotel set for longer stay in US Gulf of Mexico Semisub accommodation vessel owner Prosafe has won an extension for the charter of its flotel Safe Concordia. The company won the contract for the vessel back in October 2022 with an undisclosed US Gulf of Mexico major. The initial deal for the 2005-built unit entailed accommodation and construction support services for 330 days with up ... Over $350bn in pre-FID offshore wind projects at risk Nearly 40% of the 380GW pre-sanctioned offshore wind pipeline forecast to reach FID between 2024 and 2030 is considered under risk, a new analysis by Westwood claimed. In its recent Project Certainty White Paper, the analysis revealed that developers such as TotalEnergies and BP have the highest risk profiles, with substantial pipelines but limited or ... UK funds design of first low-carbon floating wind installation vessel The UK Government has awarded funding to a Morek Engineering-led consortium to design a new class of low-carbon installation vessels for the floating offshore wind market. The consortium - which includes Morek Engineering, Solis Marine Engineering, Tope Ocean, First Marine Solutions and Celtic Sea Power - won the funding through the Clean Maritime Demonstration Competition. ... Tonne-miles leap as shipping battles peak disruption Shipping is facing peak disruption at present as it takes evasive action in the Red and Black Seas as well as shunning the parched Panama Canal. The average haul of global seaborne trade increased last year from 4,943 to 5,036 miles, the third largest annual increase this century and six times times the average, new ... Evergrande to be liquidated Troubled property developer China Evergrande Group has been ordered to liquidate by a Hong Kong court on Monday due to its inability to convince the court of a viable plan to restructure its debt. Evergrande, now considered the most indebted property developer in the world with around $300bn of debt, was told by Judge Linda ... Strike averted at Equinor platform in UK North Sea A strike action at Equinor's Mariner platform in the UK North Sea has been averted after over 100 offshore drillers employed by Odfjell Technology secured a new working rotation, bringing the dispute to an end. Unite, Scotland's leading offshore trade union, said its members voted overwhelmingly in favour of an improved offer by Odfjell, calling ... Former Tsakos tanker reflags to Gabon Last week Nikolas Tsakos-controlled Tsakos Energy Navigation (TEN) put out a release that it had offloaded a debt-free elderly suezmax for $40m, the 2005-built Eurochampion 2004, to an unnamed buyer. Now, the ice-classed tanker has emerged with its new name, Mianzimu, named after a mountain in southern China. The ship, entering the English Channel today, ... Østensjø Rederi wins multiple vessel contracts as it ships out ageing MPSV Norwegian offshore shipowner and operator Østensjø Rederi has revealed various new contract awards for its fleet and the sale of a twenty-two-year-old multipurpose support vessel. The Kristian Helland Vea-led company has bagged contracts worth more than NOK2bn ($191.5m) for the subsea vessels Edda Fauna, Edda Sphynx and Edda Savanah, and flotel Edda Fides. Contract length ... Zhoulian Shipping contracts up to four kamsarmax newbuilds Low profile Chinese owner Zhoulian Shipping has booked up to four kamsarmax bulk carriers for construction at Yangzhou Wanlong Shipbuilding. The order covers two firm 82,000 dwt vessels for delivery in the third quarter of 2025 and the first quarter of 2026, with options attached for two additional newbuilds. No price was reported, but shipbrokers ... Marinakis linked to VLCC sale Greece's Capital Maritime and Trading is reportedly offloading one of its five very large crude carriers as analysts project orders in this segment to significantly pick up this year. Multiple brokers are reporting Evangelos Marinakis-controlled owner fetching $80m for the 2014 Shanghai Waigaoqiao Shipbuilding-built 320,900 dwt , corresponding to today's prices for similar tonnage. The ... Euronav orders ammonia-ready VLCC Belgian tanker giant Euronav has returned to Qingdao Beihai Shipbuilding for more VLCC newbuilds. The Saverys family-controlled company has signed for one 319,000 dwt ammonia-ready unit at the CSSC yard for delivery in April 2027, according to Clarksons. The deal that lifts Euronav's VLCC orderbook at Beihai to four comes with options for two more ... VLCC newbuild slots for 2027 sell out in China and South Korea Available VLCC berths at the world's top two shipbuilding nations have all but dried up for 2027. Tanker broker Gibson notes that 2027 delivery slots in China are over, with the possible exception of a couple of slots at Shanghai Waigaoqiao Shipbuilding and Dalian Shipbuilding Industry Co, while there are no more than 12 slots ... NYK signs up for very large ammonia carriers Broking sources report Japanese shipping line Nippon Yusen Kaisha (NYK) has joined the rush for very large ammonia carrier (VLAC) newbuilds in South Korea. The Tokyo-headquartered behemoth has been placed behind an order for three ships at HD Hyundai's shipyard in the southeastern port of Ulsan. The deal worth around $366m will see the vessels ... Viking Supply Ships sells out of PSV segment Christen Sveaas' Viking Supply Ships is selling its ownership stake in two remaining platform supply vessels. The Swedish OSV player has terminated the management agreements for the 2021-built Cooper Viking and Coey Viking and invoked a put option on the shares in the vessels' owning company. The ships were acquired in partnership with funds managed ... Purus adds one more ethane carrier at Hyundai Heavy UK shipowner Purus Marine has expanded its fleet of 98,000 cu m very large ethane carriers (VLEC) to three vessels, with the order of an additional vessel from Hyundai Heavy Industries (HHI) in South Korea. The vessel, costing $172m, will feature dual-fuel ethane engines and will deliver in 2027 directly into a long-term time charter. ... British owner prototypes new wind tech GT Green Technologies, in collaboration with Carisbrooke Shipping and the University of Bristol, is ready to install one of its AirWings on a ship in the UK following significant funding from the government. A 20 m high AirWing will be installed on a Carisbrooke general cargo vessel, which will ply a set route across the ... ONE moves ahead with ammonia-powered boxship project Japanese containerline Ocean Network Express (ONE) is closing in on industry-first orders for ammonia-powered newbuilds. The Jeremy Nixon-led liner has just been awarded an approval in principle (AiP) for an ammonia dual-fuelled vessel, following quickly after signing orders for its first raft of methanol dual-fuelled vessels. The 3,500 teu vessel design was jointly developed by ...

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JANUARY 29, 2024

Charterers reassess Red Sea risk in light of Marlin Luanda attack According to Lloyd's List Intelligence vessel-tracking data, yesterday saw the lowest vessel activity in the Red Sea since shipowners and... Saltchuk renews interest in Overseas Shipholding Group with $357m cash offer Saltchuk has submitted a non-binding indication of interest in acquiring all outstanding shares of Jones Act and US-flag operator Overseas... More off-spec marine gasoil detected in Singapore in 2023: VPS Off-spec MGO tests increased sharply in 2023 in the world's biggest bunkering hub Singapore, while off-spec VLSFO blends remained more... Carrier reliability remains below pre-pandemic levels December diversions dragged down figures for 2023, with more delays likely in the short term. Maersk remains most reliable carrier... Lloyd's List Intelligence and Vortexa in strategic partnership Maritime insight and data specialist Lloyd's List Intelligence and commodities and data analytics provider Vortexa announce strategic tie-up on future... EU allies with ports for war on drug smuggling Drug seizures at European ports continue to rise. The European Commission has now launched a new programme to bring private... The week in charts: Seafarer abandonment cases up 10% | Almost all ultra-large box tonnage sailing round Cape of Good Hope | Emergence of mysterious new Chinese carrier Nearly 1,700 seafarers abandoned in 132 cases reported to the International Labour Organization last year, while a China-controlled carrier looks... Nakilat posts record 2023 profit Nakilat aims to expand its fleet to 79 vessels with the addition of six newbuilds by around 2027 Red Sea disruptions boost Zim outlook Attacks on shipping in the Red Sea may be affecting supply chains, but carriers are doing well from the disruptions... ONE gets class approval for ammonia-fuelled boxship ONE has already invested in 12 methanol dual-fuelled vessels. The company set a target of net zero by 2050 Japanese consortium formed to develop lower-emission VLCC Four Japanese companies formed a consortium to develop a VLCC with a target of 40% lower emissions Daily Briefing Sanctioned ships briefly find a new home as Eswatini enters the flagging business | War risk market split on covering...

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JANUARY 29, 2024

AI is impacting logistics at a faster pace, but in the background Artificial intelligence is quickly being integrated into everyday logistics and shipping processes such as truck check-ins, rate quotes and freight payment. Share of China imports to US dipped below 40% last year amid sourcing shift China commanded 47% of the inbound container volumes to the US as recently as 2018, but rising geopolitical tensions between Beijing and Washington and a post-COVID shift in manufacturing momentum to Southeast Asia have cut into China's dominance. Rising costs, lack of infrastructure stymieing US wind buildout Hurdles slowing the US wind buildout are very real, and the Biden administration's goal of 30 GW of offshore wind by 2030 appears increasingly unrealistic. ONE secures approval for design of ammonia-fueled container ship Ammonia is in its very early stages as a potential marine fuel, with regulations pertaining to complex safety and operational issues still being developed at the IMO.

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JANUARY 29, 2024

Still insulted? Investor J Mintzmyer tells what he thinks of latest OSG takeover offer Researcher no longer holds a stake in the US tanker owner, but that doesn't mean he lacks an opinion Video: Foremost Group bulker collides with bridge in Argentina, snarling traffic Bulker En May reported to have suffered rudder problem before incident Officials greenlight non-US ships for FLNG unit, New Fortress Energy says But as yet no sign of production from Mexico-based facility Missile-damaged Greek bulker limps home after Houthi attack Following initial tinkering at the Suez Canal, supramax Zografia heads to Greece for more permanent repairs Crackdown on noisy ships could save marine mammals - and money Existing guidance on reducing underwater radiated noise from shipping is to be revamped with new measures Panagiotidis family member snaps up two bulkers from Castor Maritime US-listed owner reduces fleet to 12 vessels with latest sale of panamaxes Regulators to turn up the volume on underwater ship noise Existing guidance on reducing underwater radiated noise from shipping is to be revamped with new measures Saltchuk Resources renews bid to take over OSG with $452m deal Florida-based US flag player 'carefully considering and evaluating' offer from 21% shareholder Cash-rich shipowners are shun capital markets as public raises sink to decade low Clarksons Securities' Erik Helberg breaks down the state of play in global capital markets for shipping and offshore Frangou's Navios leads the way as Greek vintage bulker selloff rolls on The Angeliki Frangou-controlled company will have sold 24 ships since the summer if the latest deal is confirmed Private Saltchuk Resources renews takeover bid for Overseas Shipholding Group with $452m deal Florida-based US flag player 'carefully considering and evaluating' offer from 21% shareholder Crude tanker owners pin their hopes on Red Sea rerouting as rates limp along Oil is still moving through the troubled waterway, but owners believe that may change, says Clarksons Frangou's Navios leads the way as Greek vintage bulker sell-off rolls on The Angeliki Frangou-controlled company has now sold off 24 ships since the summer if the latest deal is confirmed Brazil a bright spot for VLCCs and suezmaxes as crude shipments keep rising, broker says Poten & Partners believes big tanker sizes will continue to benefit from president Lula Da Silva's production ambitions Digital fraudsters are in your inbox, warns professional indemnity mutual ITIC Invoice fraud remains a major source of claims for the insurer of shipping professionals Houthis turning Israeli liner giant Zim into 'cash machine' NYSE-listed carrier upgraded as its financial fortunes are reversed by the Red Sea crisis Cash-rich shipowners shun capital markets as public raises sink to decade low Clarksons Securities' Erik Helberg breaks down the state of play in global capital markets for shipping and offshore Shipowner NYK signs $300m sustainability loan to fund green fuel transition Deal involves 21 Japanese and non-Japanese financial institutions led by MUFG banking group Pirates switch focus from ships to fishing boats in the Indian Ocean Indian and Sri Lankan navies thwart attempted piracy attempts by suspected Somali intruders LR2 rates to surge past $220,000? Clarksons says freight costs will provide a ceiling Analysts say earnings have further to climb if Red Sea attacks persuade more owners to reroute vessels Adnoc L&S on hunt for up to $3bn worth of gas carrier newbuildings Abu Dhabi-based owner floats tender seeking slots for 10 LNG carriers and four VLAC newbuildings 'Game-changing' Red Sea conflict could soak up container ship newbuilding deliveries Analysts believe the market is pricing in longer vessel voyages for eight months Chinese shipowners hunt down VLCCs as NYK strikes $44m sale Series of vintage big tankers sold this month have been linked to China ONE bucks liner sector's love affair with methanol as it gets approval for ammonia dual-fuel design Asian liner giant one of a small number of industry peers to take a bet on ammonia as well as more popular methanol Purus Marine bumps up VLEC newbuilding tally at Hyundai Heavy Industries UK owner now has three on-order ethane carrier newbuildings fixed against charter deals Excelerate Energy partners with QatarEnergy on LNG for Bangladesh US provider extends its supply portfolio with new 1-mtpa deal stretching out to 2040 One in three tested ballast water treatment systems has faults, Australia discovers Onboard tests revealed poor treatment performance, high chemical concentrations and inaccessible sampling points Ostensjo secures $192m of ship contracts as it sells valuable veteran Norwegian owner ties up four vessels on term deals while offloading 2002-built unit after huge price inflation Eastern Pacific snares rare early shipyard slots for tanker and car carrier newbuildings Company orders one suezmax and two PCTCs Product tanker rates now so high some traders no longer moving cargoes, Gibsons says Something has to give in terms of either freight costs or commodity prices, broker believes Iran seizes tanker and crew as regional tensions close to boiling point Small vessel intercepted off Bushehr province on Sunday accused of smuggling Spare $30m to spend? Here's MSI's best ship buy tips for 2024 Planets are aligned on the tanker side with a supply squeeze set to drive up asset prices Niche Greek lender eyes fresh deals in cut-throat ship finance domestic market Aegean Baltic explores new kinds of deals and partnerships amid fat profits and capital buffers Gas shipping giant Nakilat banks $395m profit for 2023 financial year Doha-listed company says it not only navigated the challenges faced by the sector, but also achieved sustainable growth Geopolitics help give 3,000bn boost to tonne miles in 2023, says Clarksons Average haul of global seaborne trade lengthened from 4,943 to 5,036 miles, the third largest annual increase this century Qatar's Nakilat reveals $395m profit for 2023 financial year Company says it not only navigated the challenges faced by the sector, but also achieved sustainable

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JANUARY 29, 2024

Shipping faces lengthy disruptions as Middle East fallout worsens The Russia-Ukraine war led to enduring changes in shipping routes. War in the Middle East looks likely to do the same. Gulf Coast ports see mixed year-over-year results in freight volumes Ports in Corpus Christi, Texas, and New Orleans recorded year-over-year increases in cargo volumes, while Port Houston saw a slight decline in 2023.