NTSB reports on $3M Johnny M towboat fire A catastrophic engine failure led to a fire aboard the towboat Johnny M last year, the National Transportation Safety Board said Tuesday. The fire broke out on Jan. 30, 2024, when the
Chesapeake Shipbuilding opts for Aquarius retractable stabilizers Continuing a15-year partnership with Chesapeake Shipbuilding in Salisbury, Md., Kongsberg Maritime is supplying its Aquarius retractable stabilizers for installation on the latest newbuild cruise ships under construction at the shipyard for American
BIMCO's Dry Bulk Market Report: US Tariffs Weaken Demand Outlook BIMCO anticipates a weakening in the supply-demand balance of the dry bulk market through 2025 and 2026, driven in part by recent changes in US trade policy. "Since our last update, tariff increases have dampened the economic outlook and heightened uncertainty. As a result, we've revised our cargo demand growth forecast down by 0.5 percentage points for both years," said Filipe Gouveia, Shipping
CLdN launches new weekly service between Belgium and Irish ports CLdN has announced the launch of a new weekly container service connecting Zeebrugge with the Irish ports of Cork and Dublin. The new service is set to commence on May 10. The company will deploy an 800 TEU lift-on/lift-off (LoLo) vessel, the JSP Rover, to operate between its Albert II terminal in Zeebrugge and the Republic of Ireland. This new LoLo service is expected to enhance CLdN's capacity
Hapag-Lloyd to pay €8.20 dividend per share Hapag-Lloyd's shareholders approved the payment of a dividend of €8.2 per share in the Annual General Meeting. "Despite the challenging market environment, we can look back on a very successful 2024," stated Rolf Habben Jansen, CEO of Hapag-Lloyd. He continued: "Thanks to the strong demand for container transports and higher spot freight rates, we achieved the third-best operating result in our c
Recession looms as tariffs turn trade upside down Tariffs are driving global markets into recession, succumbing to the inevitable supply and demand imbalance as carrier capacity rises and demand diminishes. Shipping lines are struggling to maintain a balanced trade, having already withdrawn some 434,000 TEUs of Pacific capacity in week 16, with more cuts to come on 1 May, according to Hong Kong consultancy Linerlytica, which added that utilisati
SC Ports sees container volume growth for second consecutive month South Carolina Ports (SC Ports) handled 240,857 TEUs in March, representing an 11% growth over the same month last year. This is the second consecutive month of stronger container volumes, according to the SC Ports announcement. Rail-served Inland Ports in Greer and Dillon also performed well last month. Inland Port Greer handled 19,291 rail moves, up 20% from last year, an all-time record for th
HPC delivers pre-feasibility study for new bulk cargo terminal in Cabo Verde HPC Hamburg Port Consulting (HPC) has successfully delivered a pre-feasibility study for the development of a bulk cargo terminal at Porto Fundo in Santa Cruz, Cabo Verde. Commissioned by Spanish infrastructure company COPISA, the study provides a foundation for assessing the viability of a new terminal on the island of Santiago and sets the course for further investment planning. Located on Cabo
Port of Klaipeda sets new container throughput record in Q1 Lithuania's Port of Klaipeda delivered a record-breaking performance in the first quarter of 2025, with its container sector leading the surge. Container throughput reached 2.2 million TEUs during the first three months of the year-a 33% increase compared to the same period in 2024. This marks the highest quarterly container handling volume in the port's history. The European port handled a total
JAXPORT welcomes Crowley's first Avance Class LNG-powered vessel The Jacksonville Port Authority (JAXPORT) celebrated the arrival of Quetzal-Crowley's newest LNG-powered container ship-on its maiden voyage. With a capacity of up to 1,400 TEUs, Quetzal offers greater cargo space than the vessels previously used by Crowley in its Central American and Caribbean trade routes with the United States. Powered by lower-emission LNG, the vessel marks a significant step
ONE surpasses US$4.2 billion annual profit amid expanding container vessel fleet Ocean Network Express (ONE) has reported exceptional financial results for the fiscal year ending 31 March 2025, marking a period of significant growth across all key performance indicators. The Singapore-based shipping company recorded a staggering 336% year-on-year increase in net profit, reaching over US$4.2 billion. At the same time, earnings before interest and taxes (EBIT) surged by an impr
CMA CGM expands air cargo fleet with Air Belgium acquisition French shipping giant CMA CGM has finalized its purchase of Air Belgium, adding four cargo aircraft to its rapidly growing airfreight division. With this acquisition, CMA CGM's total air fleet now numbers nine planes, though the Air Belgium brand will continue to operate under its existing name. "This acquisition represents a significant milestone in our strategy to grow CMA CGM's air cargo capab
CMA CGM applies new PSS from North Europe & Med to LATAM & Caribbean French shipping company CMA CGM has announced the implementation of new Peak Season Surcharges (PSS) on cargo shipments from North Europe and the Mediterranean to destinations across Latin America and the Caribbean. Effective from 1 June, the Marseille-based carrier will apply a PSS of USD/EUR 150 per TEU on all types of cargo transported from North Europe-including the Scandinavian and Baltic co
PD Ports unveils Teesport Offshore Gateway development plans PD Ports aims to develop one of the UK's largest offshore wind manufacturing and installation hubs - the Teesport Offshore Gateway. "Unlocking 180 acres (730,000m²) of development potential for a range of offshore manufacturers, assembly, marshalling and supply chain support services, the proposed site will confirm Teesside's place at the heart of the UK push for Net Zero and energy independence,
Marinakis' Capital splashes out over US$1.2B on 18 newbuild container vessels Evangelos Marinakis' Capital Maritime has finalised orders for 18 container ships at HD Hyundai shipyards
CMA CGM flags first boxship in India, boosting nation's maritime push India's maritime ambitions are gaining new momentum as the country strategically positions itself to become a global shipping and logistics powerhouse. In a landmark development, French shipping giant CMA CGM has registered its first Indian-flagged container ship, CMA CGM Vitoria. With a capacity of 2,592 TEUs, the vessel is now serving India under the group's BIGEX network, offering direct weekl
Hapag-Lloyd reports strong Q1 growth amid market uncertainty, warns of softer full-year outlook Hapag-Lloyd announced increased revenue and earnings in the first quarter, per the preliminary and unaudited report. In particular, the German ocean carrier reported a 17% growth in Group EBITDA, reaching US$1.1 billion, a 24% increase in Group EBIT to US$500 million, while the company's revenue climbed from US$4.6 billion in 2024 Q1 to US$5.3 billion in the first three months of 2025. The main d
PD Ports planning development of $260m UK offshore wind hub PD Ports has revealed plans to build one of the UK's largest offshore wind manufacturing and installation hubs - the Teesport Offshore Gateway - an investment worth around £200m ($267m). The project will unlock just shy of 730,000 sq m of development potential for a range of offshore manufacturers, assembly, marshalling, and supply chain support ...
Norden presses on with bulker flipping Danish shipping giant Norden has bagged another bulker sale after taking a purchase option on chartered-in tonnage. The Jan Rindbo-led owner and operator said it had offloaded an unnamed, previously leased handysize for an undisclosed sum in a deal that follows two similar, recently carried out asset plays. Earlier this month, the Hellerup-based company revealed ...
Dynacom in for more New Times suezmaxes Greece's Dynacom Tankers has swelled its suezmax orderbook at China's New Times Shipbuilding. Newbuilding sources report that George Procopiou's company has signed up for two 159,000 dwt vessels, adding to previously booked 10 newbuilds at the privately owned shipyard in late 2023 and early 2024. The Athens-based outfit has a massive orderbook of crude and ...
Rex International pens MOPU and FSO deal for Benin oil field Akrake Petroleum, a subsidiary of Rex International, has signed contracts for a mobile production unit (MOPU) and an aframax tanker to be used as an FSO unit for the company's field development in Benin. According to the company, the MOPU will be converted from a medium-sized drilling rig. Following the conversion, the unit will be ...
Solstad scores hat-trick of deals in Brazil Norwegian offshore vessel owner Solstad Offshore has won work for three of its vessels offshore Brazil. The contracts, subject to board approval, are for two yet unnamed anchor handling tug supply (AHTS) vessels and the 2002-built Normand Flower construction support vessel (CSV). The three vessels were awarded four-year deals by Brazilian state-owned company Petrobras. The ...
Seaspan books six containership newbuilds in China Seaspan has put pen to paper on more containership newbuilds at Shanghai Waigaoqiao Shipbuilding (SWS) in China. The Bing Chen-led tonnage provider has booked six 10,000 teu vessels with delivery likely starting in 2028. No value has been revealed for the shipbuilding contract that was concluded in renminbi rather than US dollars, and detailed vessel ...
Petrobras looking to charter up to 18 platform suppliers Brazilian state-owned oil and gas giant Petrobras has launched a large-scale tender to charter up to 18 platform supply vessels. The selection process will be in line with Petrobras' usual closed-bid model, with the lowest price as the primary selection criteria, followed by an evaluation of each vessel's technical specifications. The deadline for proposal submissions ...
CMB.TECH sells three VLCCs CMB.TECH has revealed it has sold three more VLCCs as part of an ongoing fleet rejuvenation programme. The sales of the 2010-built Hakata and Hakone as well as the 2012-built Iris to unidentified buyers have generated a total capital gain of $96.7m. CMB.TECH and dry bulk concern Golden Ocean aim to finalise a merger deal ...
Managing the crew burden cycle Steven Jones, founder of the Seafarers Happiness Index, discusses how the demands of old ships and new tech are taking something of a workload toll. They say change is as good as a rest. For seafarers, though, that is plain nonsense. Still, ever optimistic, there is much from the International Labour Organization's (ILO) tripartite Maritime ...
Subsea 7, OneSubsea score work on BP's gas project off Trinidad Subsea Integration Alliance members, Subsea 7 and SLB's OneSubsea, have been awarded an engineering, procurement, construction, and installation contract for the Ginger project offshore Trinidad and Tobago by supermajor BP. The work on the project will be done under the new global framework agreement between BP and the Subsea Integration Alliance partners. The framework defines ...
CMA CGM completes acquisition of Air Belgium French liner CMA CGM has completed the acquisition of Air Belgium, adding four more cargo airplanes to its burgeoning airfreight division. The company said it will retain the Air Belgium brand with the latest acquisition taking its air fleet to nine planes. Damien Mazaudier, executive vice president of the air division at CMA CGM, stated: ...
Shipping tipped to increase FFA exposure The forward freight agreement (FFA) market is now worth $100bn, but the shipping community as a whole still has much to learn from the sector, delegates attending this week's Geneva Dry were told. Since 2020 onwards there has been a sharp increase in FFAs, bringing a big increase in liquidity according to Greg McAndrew, a ...
Who's actually willing to make American shipbuilding great again? A recent survey shows more than 80% of Americans woulds like to see more manufacturing move home, and yet the same poll shows less than 20% of the population would be willing to work in the sector, a juxtaposition perfectly illustrating the hurdles the Trump administration faces if it really genuinely wants to resurrect its ...
April 2025 Review Donald Trump kicked off a month of chaotic tariff announcements, ushering in a period of blank sailings for containerships greater than the covid era. April 2 saw the American president bring in a blanket 10% tariff on every nation, plus varying extra levels on many counties. These extra levies were then given a 90-day reprieve ...
The good, the bad and the ugly in tankers With trade policy chaos causing spikes in blood pressure but slumps in most other indices, the Baltic Dirty Tanker Index bucked the trend with a 15% increase between March 24 and April 24. The charge was led by aframaxes, with the Baltic Exchange's aframax index rising 44% between those dates to $46,347, ahead of a ...
Giving up March's dry bulk gains Just weeks into the new world order, bulk carrier owners were relieved to be told that the US Trade Representative had decided not to charge owners and operators of Chinese bulkers the egregiously excessive port fees that had been mooted. Not $1.5m per call, or even the lesser $50 per net ton for Chinese-owned ships ...
Container fortunes remain in place Liner companies and their customers lobbied hard to persuade the US Trade Representative (USTR) to change its approach to port charges, predicting bankruptcies and lost business for US companies. Still, the Project 2025 doctrine is that China's Communist Party has been "at war with the US...for decades" and that the US should respond to China ...
Analyst Abstract Tankers Today, there are around 130 VLCCs over 20 years old still trading, compared to fewer than 20 five years ago, according to data from Tankers International, which notes that around two-thirds of these vintage supertankers are engaged in moving sanctioned oil. Over the next four years, the number of vessels exceeding 20 years is ...
Uncertainty puts the brakes on S&P It has been a relatively quiet few weeks across most sectors with global geopolitical and macroeconomic uncertainties still to be unravelled. Tariffs, the wait to see what the US Trade Representative was going to do about Chinese tonnage, and concerns the world is heading for a recession have all put the brakes on sale and ...
OOCL signs $3bn boxship order Hong Kong's Orient Overseas Container Line (OOCL) is strengthening its fleet with 14 boxship newbuildings in China worth more than $3bn. The COSCO-controlled liner operator has contracted Dalian COSCO KHI Ship Engineering (DACKS) and Nantong COSCO KHI Ship Engineering (NACKS) to build 18,500 teu methanol dual-fuel series at $220m each. DACKS will take on nine ...
Wah Kwong gets on board AW Shipping gas carriers newbuilding programme Wah Kwong is expanding into the Middle Eastern market, with subsidiary Venture Marine Services (VMS) joining AW Shipping's gas newbuild project in China. The Hong Kong shipping giant said WMS will be overseeing the newbuilding supervision projects for seven 99,000 cu m very large ethane carriers (VLECs) and four 93,000 cu m very large ammonia ...
New version of US SHIPS Act targets owners ordering Chinese newbuilds Trade relations between the US and China have already been poisoned by tariffs and the USTR port fee decision. The...
US targets tankers and entities in fresh Iran sanctions The US is continuing to blacklist operators in Iran's oil trade amid talks over a nuclear deal with Tehran. The...
Chinese flows to US falling but transpacific rates are holding steady There's an anomaly amid the doom and gloom over tariffs and the plunge in Chinese cargoes to America: Spot rates...
EU requests for insurance proof ignored by over a fifth of ships The EU has made it a mandatory requirement for ships passing through European waters to provide proof of insurance, but...
Are e-fuels a waste of time? Lloyd's List's senior reporter Declan Bush asks whether the prohibitive cost of green hydrogen makes e-fuels an unviable decarbonisation solution...
CMB.Tech offloads VLCC trio for a capital gain of $97m Diversified owner CMB.Tech has sold three VLCCs as part of its 'fleet rejuvenation', recording a capital gain of nearly $97m...
Cross-cultural differences and more compliance add to crew retention challenges Strong economic growth in major seafarer supply nations means more job options are available ashore
Chinese finance lease tonnage faces US port fees uncertainty, Reed Smith warns Further hearing due to take place before roll-out
Stowaway bill for industry hitting millions of dollars a year Numbers down since peak in first two decades of century
Containership sale and purchase market remains resilient MSC is said to have purchased the 4,300 teu Navios Tempo, while undisclosed Greek shipowner buys 2,700 teu vessel from Turkish...
Signal links higher aframax returns to 'bold' repositioning moves Greece-based shipmanagement and technology group sings praises of longer-term strategising over shorter-term gain
DSV completes Schenker acquisition The takeover of Germany's DB Schenker by Denmark's DSV will create the world's largest logistics provider in terms of revenue
CMA CGM acquires Belgian airline CMA CGM has been expanding its airfreight services since it launched in 2021. Acquisition of Air Belgium will add four...
The Daily View: An untimely demise?
Hapag-Lloyd maintains forecast despite uncertain outlook Higher volumes and freight rates get year off to a good start. But geopolitics and trade war loom over full-year...
Seaspan orders six boxships from CSSC yard despite US port fee concerns The yuan-settled deal is seen as a sign of continued foreign trust in Chinese shipyards, despite new US port fees
Wah Kwong's Hing Chao brings new Asian voice to Global Maritime Forum Chao's influence in China and Hong Kong could help the GMF explore new opportunities to advance its sustainability agenda
ONE forecasts $850m profit swing amid unprecedented trade volatility It's the carrier's first use of scenario analysis in predicting future earnings, reflecting mounting market uncertainty
Cosco orders 14 methanol-powered boxships in $3.1bn fleet expansion The investment comes amid pressures from US port fees and tariffs, but strong financials provides a buffer for the Chinese...
Daily Briefing US sanctions first vessels for trading with Houthis after Ofac deadline | Yemen sanctions breaches void P&I cover, International Group...
US drayage providers bracing for container plunge say rebound could reset market National drayage providers experiencing a sharp decline in orders as US tariffs come into effect now warn that a second-half rebound could be just as disruptive.
ONE makes big cut in FY 2025 profit forecast due to economic uncertainty The carrier and competitor Hapag-Lloyd announced strong financial results Wednesday, but both said the success of early 2025 won't be replicated through the balance of the year given market headwinds linked to the global trade conflict.
DSV embarks on 'mammoth test' as DB Schenker integration begins: CEO After getting the year off to a solid start in the first quarter, Jens Lund said the real work begins now to bring the two global forwarders together under the DSV brand.
CMA CGM expands air cargo fleet with Air Belgium takeover It is the second acquisition this week by a CMA CGM subsidiary following CEVA Logistics' acquisition of Turkish forwarder Borusan Tedarik, with both deals aimed at extending the carrier's end-to-end supply chain control.
US trade official's rules for LNG ships range from 'challenging' to 'impossible', Poten says Neither rule or regulation but a proclamation that we are supposed to follow, bemoans senior advisor Gordon Shearer
Ships for America Act is back as Congress looks to boost US maritime sector Legislation could dovetail with Trump's efforts to 'restore American maritime dominance'
George Economou's talks with Sinokor on LNG carrier resale deal 'bellyflop' What is the current price for three 2026 to 2027-delivering newbuildings?
EuroHoldings embarks on strategic review as stock lingers in the doldrums Potential sale or merger among the options for newly listed feeder venture
Low-profile Guatemalan shipowner orders LPG carrier at South Korean yard Midsize gas carrier becomes second in fleet of Zaragoza-linked entity
Norwegian Cruise shares plunge 9.4% amid signs of demand pressure Miami cruise giant posts loss for first quarter
Fleet of 'zombie' VLCCs returns from the grave to lift Venezuelan oil Tankers posing as demolished ships to move crude out of South America
Talks between George Economou's TMS and Sinokor on LNG carrier resale trio 'bellyflop' What is the current price for three 2026 to 2027-delivering newbuildings?
US trade wars drive weaker demand outlook for dry bulk, analysts say Bimco estimates 4% of dry bulk mile demand affected by tariffs
Shipping insurance AI firm Ceto bags $4.8m in latest funding round UK operation banks cash from Dynamo Ventures and others
Clients trying to 'future-proof' Chinese finance leases, says Reed Smith's Leigh Hansson Regulatory law specialist notes restructuring already being considered in 'zone of uncertainty'
Torm tanker heads to US with rare shipment of gas-to-liquids diesel cargo MR fixture suggests arbitrage interest for cleaner fuel that usually goes to Europe
US port fees could see Chinese owners retreat into shadow fleet Signal Ocean says fee structure could push players into 'shadow ownership arrangements'
Trump's first 100 days: How did US-listed shipping stocks fare against the broader market? This week's Streetwise examines how Trump's second 'honeymoon period' impacted performance of maritime listings
Carriers slap on surcharges as Mediterranean becomes next low-emission zone Container shippers will pay the extra cost of IMO's move to improve air quality
Suezmaxes set for boost as China resumes crude imports from Kazakhstan Kpler observed nine Kazakh oil cargoes heading to China in May and June
Fearnley Securities starts Contships coverage with wait-and-see stance Greek owner's Oslo bonds trading at a premium to peers but investment bank is cautious on boxships market
Capesize demand hampered by lower Australian ore shipments 'Significant' Guinean bauxite volumes help offset net loss
d'Amico International boosts coverage by tying up three tankers on 12-month deals Italian owner says charters for two MRs and an LR1 will be 'very profitable'
Here's how Donald Trump has shaped shipping in his frenetic first 100 days Trump shows surprise willingness to decouple China and US economies, and so does Xi
Talks between George Economou's TMS and Sinokor on LNG carrier resale trio 'belly-flop' What is the current price for three 2026 to 2027-delivering newbuildings?
Shipowners must deal with more risks than ever, Klaveness CEO says Uncertainty will increase in coming five years
Shipping specialist Charlotte Knight promoted to partner at law firm WFW Dubai-based lawyer joined in 2014 as a trainee solicitor
Stena and NNPC unveil new tanker and gas carrier company Unity Shipping Worldwide Executives gather in Nigeria to inaugurate new West African shipping power
Hapag-Lloyd warns of gloomy outlook for the year as it celebrates $1.1bn first quarter earnings Strong start overshadowed by gloomy outlook for full year
CMB.Tech nets almost $100m through sale of three VLCCs in secondhand market Diversified behemoth shakes out some of its oldest VLCCs
Taylor Maritime wants to be 'ready to grow again' after selling 11 bulkers UK-listed owner says debt reduction after ship disposals gives it the flexibility to expand
Fringe shipowners and small flags a 'growing menace', warns compensation body Oil pollution fund urges states to carry out proper checks in insurers and crackdown on illicit shipping operations
New John Fredriksen and Idan Ofer venture snaps up $17m of Edda Wind shares as stake reaches 90% Consortium also comprising the Wilhelmsen group will now carry out compulsory offer for the rest of the stock
Greek property tycoon Ioannis Papalekas files to sell stock from $265m holding in Marinakis' CCEC Investor took a stake in gas carrier company when it was a container ship owner
Wah Kwong's Hing Chao joins Global Maritime Forum as director Hong Kong shipowner is latest high-impact board member
Western Bulk downgraded by DNB Markets as 'signs of improvement' needed Shares rise 8.9% in Oslo
Subsea 7 bottom line dips, but 2025 expectations remain the same Foreign exchange losses drag down bottom line, but revenue improves
Norden flips another leased handysize bulker after using purchase option Danish group makes it 12 disposals so far in 2024
CMB.Tech nets almost $100m through the sale of three VLCCs in secondhand market Diversified behemoth shakes out some of its oldest VLCCs
Greek property tycoon Ioannis Papalekas puts his $265m stake in Marinakis' CCEC on sales block Investor took a stake in gas carrier company when it was a container ship owner
OOCL splashes out $3bn on 14 large container ship newbuildings in China Liner company contracts series of dual-fuel vessels
Wah Kwong teams up with Adnoc L&S venture for biggest VLAC and VLEC newbuildings Hong Kong owner reveals new business in Middle East market
AMSC CFO Morten Bakke steps down ahead of liquidation Liquidation to be completed in third quarter
Greece's Sea World Management books MR tanker newbuildings at K Shipbuilding Greek deals mark South Korean yard's first orders in 10 months
Second time lucky for KNOT Offshore suezmax as new Norwegian field set to boost tanker demand Tracking suggests Bodil Knutsen could finally be the first ship to lift Johan Castberg crude
Markets have peaked, says MOL as it issues bleak 2025 profit forecast Profit forecast by Japanese giant shows how the US trade war has turned previously bullish markets on their head
Pareto Bank sees flat to decreasing shipping loan book as Trump tariffs raise risks Shipping loan book fell in first quarter
Mixed fortunes for Cosco and its associated firms seen in the first quarter of 2025 Results were boosted by exporters rushing goods out before Trump's tariffs kicked in
Tariff war: Ocean Network Express predicts net profit could fall to as low as $250m in 2025 Pessimistic liner player says global uncertainties make it hard to match last year's $4.2bn
Wah Kwong's Hing Chao joins Global Maritime Forum as directors Hong Kong shipowner joins high-impact leadership that aims to drives change across the shipping industry
Shipping names turn out in force for Hafnia networking night Tanker players enjoy traditional pub fare to mark Singapore meet
CMA CGM Air Cargo finalizes takeover of Air Belgium The cargo airline division of ocean shipping giant CMA CGM has more than doubled its small fleet with the acquisition of Air Belgium and the purchase of a large Boeing freighter.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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