New York leads 17 state coalition filing lawsuit to end Trump offshore wind energy halt New York Attorney General Letitia James today led a coalition of 17 other attorneys general in filing a lawsuit to end the Trump administration's arbitrary and indefinite halt on new offshore wind
DFO back at Vard for a third CSOV Taiwan's Dong Fang Offshore (DFO) has exercised an option in its most recent subsea construction vessel contract with Fincantieri's Vard subsidiary and is adding a third commissioning service operation vessel (CSOV) to
Senesco Marine's Ted Williams to speak on U.S. maritime revival As momentum builds on Capitol Hill for a sweeping revitalization of American shipbuilding, Ted Williams, president of Rhode Island-based Senesco Marine, will take the stage at Marine Log's Ship Repair USA with
Damen Cape Town delivers South Africa's third MMIPV Damen Shipyards Cape Town (DSCT) has delivered the South African Navy's third of three Multi-Mission Inshore Patrol Vessel (MMIPV), P1573, at Naval Base Durban. The delivery milestone, says Damen, represents the culmination
Slight upward trend for global bunker indices By the end of the 17th week of the year, the global bunker indices published by Marine Bunker Exchange (MABUX) continued a moderate upward correction. The 380 HSFO index increased to US$470.18/MT, the VLSFO index climbed to US$541.60/MT, while the MGO index rose to US$730.93/MT. "At the time of writing, the market remained in a phase of moderate upward correction," commented a MABUX official. MAB
Why Maritime Risk Is Surging in the Singapore Strait Pirate activity continues to escalate in the Indonesian waters of the Singapore Strait, raising concern among maritime authorities and vessel operators navigating one of the world's busiest trade routes. According to security firm Ambrey, a Marshall Islands-flagged bulk carrier was recently boarded by four individuals while transiting eastbound through the Philip Channel-a narrow, high-traffic st
Hapag-Lloyd increases rates from Europe to Far East Hapag-Lloyd has announced that its ocean tariff rates for Freight of All Kinds (FAK) rates from Europe to the Far East will increase. The updated prices will apply to cargo transported in 20' and 40' dry, reefer and special equipment containers and will be effective from 1 June. US$ / dry 20' & 40' 20' 40' North Europe 525 1,025 West Mediterranean & Adriatic 525 1,025 Black Sea, Northern Africa &
CN Magazine - May 2025 Issue | Out Now! Step into the pulse of global trade with the May 2025 issue of CN Magazine, your essential monthly guide to the dynamic world of container shipping. In this edition, we uncover: Rising Tensions in the Persian Gulf : Escalating geopolitical risks threaten key shipping lanes, sparking global concern. Iran's Fatal Port Blast : A deadly explosion rocks a strategic port-raising alarms over infrastruct
ICTSI achieves record net income and volume growth in Q1 International Container Terminal Services, Inc. (ICTSI) has reported robust financial and operational results for the first quarter of 2025, posting solid gains across key metrics and achieving record earnings. The Philippines-based port and terminal operator recorded a 17% year-on-year increase in revenue, reaching US$745.42 million in Q1. Additionally, EBITDA rose by 18% to US$489.59 million, r
Maersk ship awaits towing after engine room fire A Maersk container ship remains immobile in the Atlantic Ocean following a fire in its engine room on 28 April
Duvenbeck appoints new Chief Information Officer Jakub Piotrowski will join the Duvenbeck Group as Chief Information Officer (CIO) and will be part of the company's Executive Board. Piotrowski will report directly to Hakan Bicil, CEO of the Duvenbeck Group, and will have a key role in shaping Duvenbeck's digital development, assuming responsibility for the entire IT division and working on strengthening the German logistics company's competitiv
Maersk rolls out 4G-enabled IoT network across its fleet A.P. Moller - Maersk is proceeding with the deployment of its next-generation Internet of Things (IoT) connectivity platform, OneWireless, across its fleet, including all its owned vessels and more than 100 time-chartered ships. The platform is designed to meet the increasing demand for real-time data transmission and provide advanced IoT capabilities, according to the company's statement. "With
CMA CGM applies new peak season surcharge from China to Nigeria French ocean carrier CMA CGM has announced a new peak season surcharge (PSS) from China and Hong Kong & Macau to Nigeria. Effective from 1 May until further notice, the surcharge will be US$100 per TEU and will apply only to dry containers. The Marseille-based shipping company said the PSS is part of a continued effort to provide its customers with reliable and efficient services. If you liked th
Ports on High Alert as Strikes and Unrest Disrupt Global Shipping Routes The global maritime system is under siege by a new breed of actors using low-cost weapons and hybrid tactics to destabilize key ports and trade routes. Recently, commercial vessels have been detained at gunpoint, ports shelled by drones, and strategic terminals rocked by deadly explosions
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DP World deploys OneStop's digital solutions at new container facility in Australia OneStop has expanded its partnership with DP World with the upcoming implementation of OneStop Modal and OneStop Vehicle Booking System (VBS) at DP World's brand-new Coode Road container park. The new solutions will be introduced at the container park, which is located within the Port of Melbourne in Australia, on 12 May. The new facility spans over 25,000 m² and will support logistics landside o
DP World kicks off expansion works at Port of Maputo DP World announced the start of a US$165 million expansion project at DP World's container terminal at the Port of Maputo in Mozambique. The expansion of the box terminal at the Port of Maputo is part of a long-term strategy to meet global trade demands, create thousands of new jobs and contribute to Mozambique's economic growth, said DP World in a statement. The project is expected to enhance th
AD Ports and Egypt's SCZONE sign agreement for KEZAD East Port Said Zone development AD Ports Group and the General Authority for Suez Canal Economic Zone (SCZONE) signed a 50-year renewable usufruct agreement to develop and operate a 20 km² industrial and logistics park near the Egyptian coastal city of Port Said on the Mediterranean Sea. The East Port Said Industrial Zone provides an opportunity to turn a location on the Mediterranean Sea into a key hub for international trade
Konecranes Lift Trucks inks distributor deal with Terberg Tractors Belgium Konecranes Lift Trucks has entered a new distributor agreement with Terberg Tractors Belgium, enhancing its presence in the Belgian material handling equipment market. The agreement, finalized on 16 April, empowers Terberg Tractors Belgium to sell and service Konecranes lift trucks throughout Belgium, utilizing their advanced sales and support center in Gent. Lies Barra, Managing Director BeNeLux
BP sells six MR tankers for US$200M BP is reportedly divesting six medium-range (MR) tankers in a deal valued at around US$200 million. The vessels include British Cadet, British Captain, British Chief, British Officer, British Engineer (all built in 2017), and British Sailor (built in 2016). According to brokers, the ships attracted multiple offers over the past two weeks. Although the ownership transfer has been completed, the id
DP World and ATI invest US$100M in Manila South Harbour upgrades The Manila South Harbour (MSH), the Philippines' premier international trade gateway, received a major operational boost as DP World and Asian Terminals Inc. announced the completion of expansion projects. DP World and ATI have invested approximately US$100 million in projects, including the extension of Pier 3 berth to over 600 metres, yard expansion to accommodate 20,000 TEUs, the addition of t
Premuda seals management buyout Italian tanker and bulker owner and operator Premuda has concluded a management buyout led by its top executives. The deal spearheaded by chief executive Marco Fiori and chief of finance Enrico Barbieri has seen the acquisition of 100% of the share capital in the Genoa-based company for an undisclosed sum. The transaction is backed by ...
Allseas taps Wuchang Shipbuilding for offshore vessel duo Swiss-based marine construction specialist Allseas has ordered two offshore construction vessels from Wuchang Shipbuilding Industry Group in China. The vessels are based on the SALT 308 OCV design, they feature advanced equipment and systems to deliver enhanced performance, flexibility, and functionality. Each vessel will measure 100 metres in length, feature a 1,100 sq m cargo ...
Dong Fang Offshore orders third CSOV from Vard Taiwanese owner and operator Dong Fang Offshore (DFO) has ordered another commissioning service operation vessel (CSOV) from Fincantieri-controlled Norwegian shipbuilder Vard. The vessel will be a sister ship to the two CSOVs contracted in May 2024, and follows the order of a subsea construction vessel from the yard last month. The CSOV is based on ...
AD Ports strikes deal to set up logistics zone in Egypt Abu Dhabi-based ports and logistics giant AD Ports Group has signed a 50-year concession deal with Egypt's Suez Canal Economic Zone to set up a 20 sq km logistics and industrial zone east of Port Said on the Mediterranean Sea. Under the agreement, AD Ports Group will develop, build, finance, operate, and manage the industrial ...
Jinhui linked to second supramax sale this year Chinese bulker owner and operator Jinhui Shipping and Transportation has reportedly offloaded another one of its older supramaxes in what would mark the company's second sale this year. S&P sources suggest the Oslo- and Hong Kong-listed company is shipping out the 2008-built 57,000 dwt Jin Tong to Chinese buyers in a deal worth $10.5m. Jinhui, ...
Fujian Highton seals four-ship sale and leaseback Chinese bulker owner and operator Fujian Highton Development has struck a sale and leaseback deal for four recently-purchased vessels. The fast-growing Shanghai-listed company is selling a pair kamsarmax and panamax bulkers each to compatriot lessor Xiamen Xiangyu Financial Leasing for $59.2m. The vessels are the 2013-built 81,800 dwt AM Krakow and AM Buchanan and 2013- ...
'Unprecedented uncertainty': Geneva Dry takes the pulse of the global trading outlook All week, Splash will be bringing readers reports from Geneva Dry, the world's premier commodities shipping conference, which took place on April 28 and 29 with more than 820 delegates in attendance. Up first in our coverage is the Commodities Shipping Outlook, a high-level scene-setter to open proceedings, designed to give delegates an indication of ...
Seacon seals lease financing for Baltic Shipping seven-ship swoop China's Seacon Shipping has secured financing for seven modern mini bulkers it snapped up from Baltic Shipping earlier this year. The Hong Kong-listed company said in a filing it had agreed to sell the vessels to a subsidiary of Shenzhen Financial Leasing for €57.33m ($64.9m) and bareboat charter them back. The charters will be for ...
Sea World tied to product tanker newbuilds in South Korea Greece's Sea World Management and Trading has been linked to MR product tanker orders in South Korea. Brokers report the Laliotis Group tanker outfit has signed up for a pair of 50,000 dwt newbuilds at K Shipbuilding. Deliveries are due in 2027, with prices reported between $50m and $51m per ship. Nicholas Notias-led Piraeus and ...
Novorossiisk port hit by drones Three silos at a grain terminal in the Russian port of Novorossiisk were damaged by Ukrainian drones on Saturday with the city's mayor declaring a state of emergency. The Black Sea terminal is now operated by Delo Group, having formerly been part of Cargill's network. It has a capacity to move 10m tonnes of cargo a ...
Western Energy inks LPG newbuild at HD Hyundai Mipo Panamanian company Western Energy Inc Transport has moved to expand its fleet of mid-sized gas carriers with a newbuild order in South Korea. Shipbuilding sources report a deal has been sealed at HD Hyundai Mipo for a 39,200 cu m unit delivering in the third quarter of 2027. Western Energy is currently listed with one ...
BP offloads tanker sextet BP is reportedly selling six MR tankers for $200m. The 57,000 dwt vessels are the British Chief (2017), and the 2016-built sisters British Engineer, British Officer, British Cadet, and British Sailor. Over the weekend, brokers reported that the ships had received a string of offers over the last fortnight, and while the ownership has been transferred, ...
Is the IMO fit for purpose? Andrew Lemmis questions the regulator's global role from a lifeboat industry perspective. Imagine a football match where the referee is paid by the teams and has no power to issue a red card. He can suggest the rules, sure, but it's up to the players whether to follow them. Sound absurd? That's essentially how the ...
Bangladesh ill prepared for next month's ship recycling changes There's just over six weeks to go until the enacting of one of this year's most significant shipping regulations, and one key country is ill-prepared for the imminent changes coming to the ship recycling sector. June 26 sees the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships enter into force ...
Maersk unveils new blue box look Maersk has unveiled new-look containers, ditching grey for bright blue. The Danish container carrier has had grey-coloured containers for the past 51 years. The new blue look is pictured above on 85,000 containers ordered in China, with more set to flood the market in the coming years. The white colour remains unchanged on reefer containers. ...
Israel strikes Houthi-controlled Hodeidah port The Israeli air force struck Houthi targets on Monday after a missile launched by Yemeni faction bypassed Israeli air defences...
Opec+ hikes production yet again, buoying VLCC prospects Times are tough for ocean shipping, given macro pressure from Trump's tariffs. But the VLCC segment has some specific upside...
The Daily View: Maximum pressure
Daily Briefing Iranian energy exports keep flowing as Trump threatens secondary sanctions | Container trade braced for negative growth if US-China trade...
LNG shipping rates are up from lows but trade war raises new risks European demand for US LNG has buoyed spot rates in the Atlantic, while a slump in Chinese demand has kept...
Iranian energy exports keep flowing as Trump threatens secondary sanctions The US has piled on designations on Iran amid the Trump administration's 'maximum pressure 2.0', but these has thus far...
TEN takes first of 12 shuttle tanker newbuildings Athens 04 is first of pair chartered to TotalEnergies, according to industry sources
Cosco inaugurates new car carrier service to Piraeus hub Cosco-controlled Greek port eyes further strengthening of role in automotive trades
Salvage tug dispatched to stricken Maersk boxship after engine room fire in Atlantic A salvage tug has been sent from Mexico to tow the stricken 2004-built Maersk Sana
Logistics vets bridging shipper-small carrier divide sans broker In launching TruSygnal, Burns Logistics CEO Ed Burns wanted to provide a way to allow small carriers to create relationships with shippers that typically shy away from brokers.
US truckload shippers hedge contract rates as carriers cut capacity Shippers are increasingly seeking so-called mini-bid contracts to bridge a transitioning market reflected by carriers cutting capacity.
UPS seeks reentry into LTL space as LTL costs climb higher With a "reintroduced" ground freight shipping option, UPS hopes to tempt LTL shippers seeking alternatives to LTL rates that are up 12% on average from mid-2023.
India's ban on Pakistan cargo raises disruption risk The restrictions have "effectively" made direct vessel calls to either Karachi or Port Qasim on India services operationally impossible, according to major container lines.
LNG shipping veteran Warren Bluestein dies at age 78 Industry enthusiast who loved being at 'sharp end of business' bows out
Matson warns that tariffs could fuel 'meaningfully lower' earnings after profit growth Hawaii liner operator says slump in transpacific trade will hit ocean transportation division
US maritime agency's former top lawyer joins law firm at 'exciting and unprecedented time' Jeffrey Lewis has worked in the Biden and Trump administrations, as well as the Senate
GTT splurges $219m on purchase of marine digitalisation provider Danelec Largest acquisition in company's history expected to prove transformative, chairman and CEO says
Groege Economou tanker lifts first cargo of Senegal Bonny crude for 10 years Shell charters Petalidi to bring in Nigerian oil to Dakar's SAR refinery
Singaporean bank OCBC triumphs in $56m claim against insurer of capsized offshore vessel Singapore High Court ruling clarifies points of English insurance law, barrister says
Navigator Gas signs $300m secured loan facility at 'record low margin' Owner refinances debt of $158m
Navigator Gas and Enterprise forge cycling joint venture for multiple sclerosis fight Four executives at gas carrier operator join 11-person team to pedal 150 miles
Montenegro clears new loan for bulker company to remove bankruptcy threat Prva Bank will supply Crnogorska Plovidba with fresh funds over three years
How does adding 91 fossil fuel-burning bulkers fit into CMB.Tech's green shipping strategy? Golden Ocean's bulker fleet may never be retrofitted with ammonia engines, but they're part of the plan
Genco tipped to raid cash reserves to keep dividends flowing Analysts believe New York-listed owner will turn in a loss this week
Premuda management completes buy-out of Italian tanker and bulker owner First deal of its kind in Italian shipping as management and Pillarstone acquire 100% of shares
VLGC cargoes could be cancelled on weak margins, broker Fearnleys says Norwegian shop says poor arbitrage opportunities may also hit freight rates
Vietnamese owner Vosco heads to Norway for latest bulker buy as newbuilding plans put on ice Vietnamese shipowner in supramax buying mode after deeming secondhand ships to be better value for money
Taiwan's Dong Fang adds third CSOV to Vard orderbook Ship is option attached to subsea construction vessel order inked last month
Fuel moved from grounded MSC container ship to sister vessel as salvage continues More tar balls found near site of stricken MSC Baltic III operation
Viking Line names Marcus Risberg new CEO Risberg joins from ferry operator Destination Gotland
Tanker rates tipped to rise alongside temperatures as Opec supercharges production A summer lull for the tanker sector? Not this year, analysts say
Sinokor Maritime offloads former Ridgebury VLCC for huge profit South Korean owner said to have found a Chinese buyer for 2006-built tanker
Iran converts MR tanker into naval ship to boost drone capability Work is progressing on the former Tabukan at the ISOICO yard
Capesize demand working West Africa to China routes poised for takeoff Bauxite and iron ore resources in Guinea expected to drive up demand from China
Shell examines potential takeover of BP to create $266bn energy, chartering and shipping giant Sources report talks with advisors on feasibility of mega-merger
Solstad Maritime sees Oslo listing in May as it pays out $35m in dividends No offering of shares in connection with listing
Greece's Bright Brothers sells vintage bulker for recycling Greek-controlled panamax bulker will be joined on the South Asian recycling beaches by two Asian-owned handies
Fujian Highton sells four mid-size bulkers to Chinese leasing company for close to $60m Company says sale and leaseback deal done to free up liquidity
Shipping's Mission Impossible? Boost rates as China exports plunge An analyst says moves by shippers to redirect China exports and by carriers to blank sailings will only shore up container rates in the short term.
Sun Country faces slight delays integrating additional Amazon cargo jets Amazon contract carrier Sun Country Airlines says finding parts is slightly slowing deployment of new Amazon freighter aircraft.
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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