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JULY 30, 2024

Govt highlights initiatives to promote sustainable logistics Export Promotion Capital Goods Scheme enhanced to simplify processes, reduce transaction costs & promote automation India needs 7-10 pc growth for 20-30 years, says NITI Aayog Shipping lines mull using newly opened Vizhinjam Toll Charges on Cargo/Container passing through JN Port WTO's latest World Tariff Profiles provides comprehensive information on tariffs and non-tariff measures HMM collaborates with KORAIL for intermodal transportation, developing a low-carbon logistics transportation system Karwar Port declares permissible draft Ocean container shipping volatility seen increasing Indian Register of Shipping announces leadership appointments MoPSW may revive PLI scheme for containers DP World expands network across Asia Pacific King Abdul Aziz Port in Dammam sees outstanding operational performance in Q1 2024 Far East-Mexico Express (WSA5) service launched in Dalian

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JULY 29, 2024

Shippers 'at a loss' as Red Sea ripples spread across container trades Antwerp Airport and Ostend-Bruges appoint new CEO Bangladesh apparel shippers hit by delays face cost hike as they turn to air freight Kuehne + Nagel - no cuts no more News in Brief podcast | Week 31 2024 | Easing rates and Q2 results Rail freight round-up: Le Shuttle traffic falls; a loco lack in Russia; China-to-Europe rates rise OceanX: From Hamburg with love as big guns update on market trends Hybrid aircraft fleet model key to taking advantage of SE Asia ecommerce boom

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JULY 29, 2024

White House: Private sector steps up with new investments in U.S. maritime sector The White House reports that private sector partners are stepping up with new investments in the U.S. maritime sector, with a fact sheet noting that the following companies plan to expand or FERRIES 2024: A milestone in zero-emission ferry operations In a significant advance for sustainable maritime transportation, SWITCH Maritime's hydrogen fuel cell ferry, the Sea Change, recently received its U.S. Coast Guard Certificate of Inspection (COI). This certification marks the ferry's Slight uptick in seafarers' happiness The latest Seafarers Happiness Index report from the Mission to Seafarers reveals a mixed but somewhat more positive picture of seafarers' well-being, with the happiness index increasing slightly to 6.99 in second Italy orders five new-generation minehunters Italy has awarded a EUR 1.6 billion (about $1.73 billion) order for five new-generation minehunters to a consortium of Intermarine S.p.A. and Leonardo S.p.a. With a length of approximately 63 meters and

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JULY 29, 2024

Port of Oakland receives US$3 million grant to face sea level issues The California Department of Transportation (Caltrans) awarded the Port of Oakland and the City of Oakland US$3 million for a Sustainable Transportation Planning - Climate Adaptation Planning grant. The funds are anticipated to address potential flooding due to sea level rise (SLR) and groundwater intrusion (GWI). "Sea level rise and groundwater intrusion pose an existential threat to the Port an Hapag-Lloyd increases rates from India and Pakistan to Med and North Africa German ocean carrier Hapag-Lloyd has announced increased ocean tariff rates from India and Pakistan to the Mediterranean and North Africa. This increase will be valid from 15 to 31 August. US$ per 20' container: From To Current base rate level New base rate level Delta Nhava Sheva & Mundra, IN West Mediterranean & North Africa* US$3,352 US$3,952 US$600 Karachi, PK West Mediterranean & North Afric MSC reorganizes its Asia-Oceania service network MSC has announced the reshuffle of its service network between Asia and Oceania aiming to provide faster and more reliable services to its customers in China, Southeast Asia and Oceania. The world's largest liner operator said the Wallaby service will be enhanced and reinstated as a standalone service, offering faster and more direct connections between Australia, New Zealand and North Asia. The Maersk announces decreases in Asia-Africa peak season surcharges Danish ocean carrier Maersk has announced a reduction in peak season surcharges from several Asian ports to Kenya and Tanzania. In particular, Maersk has decided to decrease its peak season surcharge from the Greater China Area, Northeast Asia, Southeast Asia and the Mekong area to Kenya, as follows: Greater China Area to Kenya EQ Type Old Rate New Rate 20ft Dry US$300 US$150 40ft Dry US$500 US$2 Penang Port invests in Kalmar container handling equipment Penang Port announced a significant investment in a new fleet of Kalmar container handlers, aiming to optimize its operations and improve service delivery. The new fleet comprises four Empty Container Handlers and one Reach Stacker. The Empty Container Handlers will be deployed to handle empty containers, marking the first time Penang Port will fully insource this operation using its own manpower DP World supercharges Asia Pacific trade with expanded network DP World has inaugurated 51 new freight forwarding offices across Asia Pacific (APAC), aiming to enhance its position as an end-to-end supply chain solutions provider. This brings the number of DP World's active trading offices globally to 161. The expanded network, focused on air and ocean freight, is backed by DP World's infrastructure from ports and terminals to warehouses, trucks, rail and ve CMA CGM implements new peak season surcharges in Africa French ocean carrier CMA CGM has announced new peak season surcharges in Africa, which will take effect on 15 August. In particular, CMA CGM will implement a new peak season surcharge (PSS) from North Europe, including Baltic and Scandinavia, the United Kingdom, and Marseilles, to the ports of Dakar in Senegal and Abidjan in Ivory Coast. The surcharge will apply only to dry cargo and will be €300 German modular builder Algeco orders five Konecranes electric forklifts Germany's Algeco GmbH ordered five Konecranes E-VER electric forklifts fitted with modified spreaders to handle special containers used to construct modular buildings. The forklifts will be delivered to Algeco's facilities in Paderborn and Stockstadt in the thrid quarter of the year. Algeco makes special room-like containers that can be assembled into housing, office and classroom spaces, and hav A Comprehensive Guide on Crypto Market Making Crypto market making has become a critical component of the cryptocurrency ecosystem. As digital currencies gain traction, the role of crypto market makers becomes increasingly vital in ensuring liquidity and stability. This guide delves into the intricacies of crypto market-making, offering insights into its significance, strategies, and future potential. Whether you're a novice investor or an e CN analysis: Container rates out of India on major trades see sharp gains amid capacity woes Container freight rates on trades out of India have seen strong gains in July amid heightened demand linked to early peak season bookings and persistent capacity disruptions, according to a market analysis by Container News . On the westbound India-Europe trade, average short-term contract rates for bookings from West India [Jawaharlal Nehru Port (JNPT)/Nhava Sheva or Mundra Port] to Felixstowe/L

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JULY 29, 2024

GEFO swells chemical tanker orderbook German owner GEFO is expanding its newbuilding programme with more chemical tankers in China. The Hamburg-headquartered company has returned to Xiangyu shipyard in Nantong for two firm and two optional 7,900 dwt vessels, adding to its series of ten 3,850 dwt stainless steel units booked for construction earlier this year. The ice class 1A newbuilds, with ... Genco lets go of another cape US-listed bulker player Genco Shipping & Trading has been linked to the sale of another ageing capesizes as demand for secondhand bulker tonnage remains robust. The John Wobensmith-led owner of more than 40 ships has offloaded the 2008-built Genco Hadrian to Far Eastern interests at $25m, according to shipping S&P sources. The sale of the ... Donsotank ups chemical tankers order tally at Wuhu Sweden's Donsotank Rederi has returned to Wuhu Shipyard in China for an additional chemical tanker newbuild. The owner and operator of five tankers on the water and two dual-fuel tankers under construction has added a third 22,500 dwt unit to its orderbook at Wuhu, taking its series at the yard since late 2018 to five. ... TFG Marine signs up for Consort methanol bunkering newbuilds TFG Marine, Trafigura's marine fuel supply joint venture with John Fredriksen's Frontline and Golden Ocean Group, has inked a long-term time charter deal with Singapore's Consort Bunkers for four newbuild bunker tankers capable of carrying methanol. The 6,500-dwt IMO type 2 units are currently under construction at China Merchant Jinling Shipyard and will be operated ... Subsea 7 and SLB alliance lands new contract with BP Subsea Integration Alliance, a non-incorporated tie-up between Subsea 7 and SLB's OneSubsea has secured a new contract from UK supermajor BP for work on the Murlach development in the UK North Sea. The deal worth up to $150m covers the engineering, procurement, construction and installation of the subsea pipelines and production systems on the former ... Dark fleet additions see Cook Islands become a top 30 flag A flag featuring the Union Jack of the United Kingdom has become a go-to register for Russian-linked ships. Gabon has been elbowed out by the Cook Islands in the top 30 flag leaderboard compiled by Clarksons Research, becoming a significant home for the so-called dark fleet of tankers trading Russian, Iranian, and Venezuelan oil. Splash ... Grounded vessel breaks apart off South Africa The Panama-flagged general cargo vessel, Ultra Galaxy, beached on its side in a remote area of South Africa's west coast since early July, broke apart into four sections over the weekend in stormy conditions with the South African Maritime Safety Authority (SAMSA) reporting an oil spill. Some 125 people from local communities have been enlisted ... US calls off Gulf of Mexico offshore wind lease sale The US Bureau of Ocean Energy Management (BOEM) has cancelled its proposed offshore wind lease sale in the Gulf of Mexico, citing lack of interest from developers. In March, BOEM offered about 1,660 sq km in four wind energy areas off the US Gulf states of Louisiana and Texas, with potential for around 5 GW ... Diana Shipping fixes $167m refinancing Greece's Diana Shipping has secured a new $167.3m loan from Nordea to refinance its existing commitments with the Nordic bank. The New York-listed shipowner said the proceeds of the new loan, secured by 10 vessels, have been utilised to refinance two loans maturing in October 2027 and June 2028 secured by 12 bulkers. "This strategic ... Lila Global adds second MPP Dubai-based Lila Global has expanded its fleet with a large secondhand heavylift multipurpose vessel, which it says will further boost its capacity and versatility. The shipowning arm of Anil Sharma's cash-buying giant Global Marketing Systems (GMS) has welcomed the 2003-built Lila Mombasa after picking it up at action for $7.5m. The Dalian New Yard-built 30,300 ... Pan Ocean in bulker buildup Korean owners have been raiding the secondhand market for modern tonnage this summer. A few weeks ago, HMM was reported to have made its seventh acquisition in two months, purchasing the four-year-old, 82,000 dwt dry bulk carrier BW Kobe for $37m. Now, another big name in local shipowning circles, Pan Ocean, is on the move. Pan Ocean, ... KCA Deutag acquired by Helmerich & Payne in $2bn deal Drilling and engineering contractor KCA Deutag has been acquired by US driller Helmerich & Payne (H&P) for around $1.972bn. The deal will increase H&P's Middle East rig count to 88 from 12, making the combined company one of the largest rig providers in the region. The transaction, which will be funded with cash on hand ... Borr Drilling scores $332m jackup hat-trick Tor Olav Trøim-backed jackup rig player Borr Drilling has picked up new contracts worth $332m for three of its units. The fixtures involving the rigs Arabia I, Gunnlod and Norve cover a total commitment of 1,779 days. The Oslo and New York-listed offshore driller said the Arabia I, which had its contract suspended earlier this ... Goa-based Fomento Group cuts shipowning arm in two Eight years after entering shipowning, Fomento Group has sold half of its four-strong fleet. In May, it offloaded the 2016-built Fomento One newcastlemax to Greek owner Evangelos Marinakis for $55.9m, a ship the Indian miner had ordered at Daehan Shipbuilding in South Korea a decade ago. A second newcastlemax from the same yard is now ... Second ship sinks in same area of the Philippines in the space of two days In the same area of the Philippines authorities are having to contend with oil spills as a second tanker sank on Saturday evening, just two days after another ship went down. The Philippine Coast Guard (PCG) reported over the weekend that they discovered leaks on the sunken tanker Jason Bradley. The small, 39 m long ...

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JULY 29, 2024

Iran seizes another small tanker Media affiliated with the Islamic Revolutionary Guard Corps stated that Iran seized the Togo-flagged 1,956 dwt product tanker Pearl G... This time it's different: No backhaul box-rate upside from Red Sea effect Container shipping investors may be putting too much weight on spot indexes. Not only does the current spot-rate spike exclude... SiriusPoint unveils 'strategic' marine insurance relationship with HMA Move is part of New York-listed speciality insurer's aim to grow across marine market this year Cape of Good Hope transits down again as weather batters South African coast Bad weather has seen transits round the Cape of Good Hope fall, with containerships and bulk carriers in particular avoiding... August shutdown looms for Canada's west coast ports A coast-wide strike is on the cards again for Canada's west coast ports. ILWU 514 told the employers' association, the... IMO report could sway more countries towards carbon levy An IMO steering committee has agreed to progress a report by Unctad that may sway more countries to support a... Marine insurance must evolve products to meet climate change challenges, Krol argues From potentially regular Panama Canal slot rationing to rain-swollen high tides in Chinese ports, shipowners need an innovative approach to... Crew member evacuated by helicopter in LPG carrier blaze Limra left Colombo, Sri Lanka on July 26, before a fire broke out in the ship's engine room on July... Salvors claim views 'disregarded' in new LOF terms as usage plunges Tally 'extremely disappointing' in a year that otherwise saw a recovery in salvors' revenue from other types of operation Cook Islands deflags 12 sanctions-busting tankers as it rejects 'dark fleet' label for registry's ships All but a handful of the 80-plus tankers that have joined the Cook Islands registry since 2023 are in Russian... Oil spill from sunken tanker reaches Philippines coast Philippines Coast Guard said nine valves were leaking the industrial fuel oil that the vessel was carrying, creating an oil... Trafigura-backed bunker supplier to time charter four new methanol tankers Singapore's second-biggest physical supplier continues to invest in alternative fuel infrastructure, as demand is tipped to pick up in the... Yang Ming appoints new chairman Tsai Feng-Ming Local media said Tsai was Yang Ming's youngest chairman South Korea's shipbuilders profitable in first half of the year With the increase in the newbuilding price index and the large number of orders already received this year, the builders... New Times Shipbuilding joins expansion trend with $689m investment NTS secured orders for up to 17 dual-fuel LNG containerships this month Daily Briefing Leaked charterparty hints at premiums earned on sanctioned trades | First test of UK shipping sanctions as Russia-loaded tanker sails...

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JULY 29, 2024

Former KCS CEO Pat Ottensmeyer dies at 67 Ottensmeyer spent 17 years with Kansas City Southern Railway until the merger with Canadian Pacific Railway in 2023, then served on J.B. Hunt's board of directors. Brazil shippers say North America container rates surge close to record highs Strong demand, tight vessel capacity and delays at some key Brazilian ports are pushing freight rates close to the record levels hit during the pandemic. Vancouver's longshore foremen prep for possible strike after DP World hearing The Port of Vancouver's maritime employers warn of a port-wide strike vote taking place as Canada's labor tribunal considers a union proposal about staffing at DP World's Centerm. EU anti-deforestation law poised to roil markets: supply chain experts Investment in technology to address the complex regulation is critical for cargo owners shipping to Europe, but it could have significant side effects to trade and consumer prices, experts warn.

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JULY 29, 2024

Mystery surrounds shadowy manager of hit-and-run VLCC TradeWinds follows the elusive manager's paper trail to a likely brass-plate company in an office block in Singapore Safe Bulkers profit grows 79% as revenue lands shy of Wall Street bets New York-listed bulker owner's earnings come in just shy of analyst estimates Two former Eagle Bulk finance executives find new roles after Star Bulk takeover Both worked under ex-finance chief Costa Tsoutsoplides, who may make his own move shortly OSG looks to 'new playing field of opportunities' for cargoes of the future in Jones Act niche OSG platform could have a leg up in moving hydrogen, methanol, carbon or ammonia Seatrium stock surges on $1.1bn loan and promise of return to profit BG facility will be used for business growth Maritime court refuses to block Mexico over $96m dispute Luxembourg sought ruling that Mexico could not attempt to collect fine after dredger seizure in 2023 Blacklisted oil tanker charts Kremlin's Arctic path to China Voyage with Urals cargo to Zhoushan is the first made by tanker since it was targeted by US regulators Bahri sees profit soar on positive VLCC and chemical tanker markets Company attributes results to rise in global shipping rates Capesize bulker rates sink to four-month low as fixing activity slows There has been some enquiry from Pacific miners for loading dates in early August European Public Prosecutor's Office to investigate Cyprus FSRU-based LNG project EU demands cash back as contractors walk, but what is the future of the regas vessel? New Chinese operator steps into transpacific trade under US regulator's watchful eye Hede Shipping builds up service after being named 'controlled carrier' VLCC spot rates shed the 'doom and gloom' as shipowners help each other out Big tanker owners enjoy upturn after charterers fell over themselves chasing tonnage Fredriksen and Trafigura venture orders bunker tanker newbuildings with methanol capabilities First ship to be delivered later this year with hopes it can deliver nascent alternative fuel 'Retirement an outdated concept': Tony Gurnee looks back to the future with Trinity College calling Ardmore Shipping founder tells TradeWinds he knew it was time to hand over his 'baby' Second 'shadow' LNG carrier braves Red Sea disruption as bulk of fleet steers clear Striking similarities between the only two LNG vessels to have taken route since mid-January Divers seal leaks on sunken tanker as oil hits coastline Second tanker leaves Manila to receive oil in pumping operation from sunken Terranova Idan Ofer-backed Eastern Pacific expands $8bn orderbook with product tanker quartet LNG dual-fuel aframaxes will be built at Xiamen Shipbuilding Subsea 7 joint venture snags 'milestone' deal with BP in Scotland Contract could earn Siem-linked outfit between $50m and $150m Fire-ravaged hull of shadow fleet VLCC revealed after collision with Hafnia tanker Video footage shows widespread damage on Ceres I in aftermath of fire Seacon turns to time charter market for tanker newbuilding brace Chinese owner has bareboat chartered two chemical tanker newbuildings from domestic leasing house Boarding school misery to shipping success. Tony Gurnee reflects on his Irish adventure Outgoing boss of Irish tanker company looks back at a long and varied career Fears over worst ever oil spill in Philippines ease as divers seal leaks on sunken tanker Second tanker leaves Manila to receive oil in pumping operation from sunken Terranova Gunvor linked to long-term deals for Polembros tanker newbuildings Deal follows seven-year extension of charters of Top Ships MR pair Battle to contain oil spill as grounded bulker breaks up off South Africa Fresh storms have caused stricken ship to break into four pieces Yang Ming taps academia to replace departing chairman Feng-Ming Tsai has carried out research on transport management and contributed to Taiwan's maritime education Energy saving technologies still largely restricted to big ships, Clarksons data shows Container ship sector has seen the highest uptake with almost half the fleet fitted with at least one device

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JULY 29, 2024

Port Houston saw container exports surge in June Port Houston saw a surge in container exports in June, while crude oil exports rose at the Port of Corpus Christi. Maersk Line settles US complaint over whistleblower firing The U.S.-flag subsidiary of shipping leviathan Maersk has agreed to a settlement with the U.S. government over the termination of a seaman who alerted authorities to potential unsafe conditions on a cargo vessel.without first notifying the company.