Exclusive tour opportunity: Step aboard the Empire State VII Attendees at Marine Log's Ship Repair USA-taking place June 10-11 in New Orleans-are invited to take part in a special guided tour of Empire State VII, SUNY Maritime College's groundbreaking new training
Maersk has a strong first quarter, but what's ahead? For the first quarter of 2025 A.P. Moller - Maersk A/S (Maersk) reports revenue growth of 7.8% to $13.3 billion with EBIT increasing to $1.3 billion from $177 million a year ago.
SSA Marine deploys zero-emission equipment at Los Angeles' Berth 55 Port and terminal operator SSA Marine has completed the transition of its fleet of 44 small-capacity and heavy-duty forklifts at Berth 55 at the Port of Los Angeles from propane-fueled to battery-electric powered. Berth 55 is the first of SSA Marine's terminals to fully transition to zero-emission cargo-handling equipment in its operations. SSA Marine estimates this initiative will reduce propane
Ceasefire offers Red Sea respite, but Yemen's ports remain in fragile state As the Red Sea breathes a tentative sigh of relief following a newly brokered ceasefire between the United States and Yemen's Houthi movement, a pressing question emerges: is this a genuine turning point for maritime stability-or just a brief lull before another storm?
Downward trend for global bunker prices At the end of the 19th week of the year, the Marine Bunker Exchange (MABUX) global bunker indices showed a downward trend. The 380 HSFO index dropped to US$442.47/M, the VLSFO index declined to US$510.88/MT and the MGO index decreased to US$700.99/MT. "At the time of writing, the market was showing signs of a moderate upward correction," noted a MABUX official. The MABUX Global Scrubber Spread (S
Vietnam's Shipping Sector Navigates Trade Turbulence Amid U.S. Tariff Threats As geopolitical tensions and global trade disputes intensify, Vietnam's shipping industry finds itself at a critical crossroads in 2025. Once hailed for its strategic location and rapidly developing port infrastructure, the Southeast Asian nation now faces a dual challenge: absorbing the impact of looming U.S. tariffs while capitalizing on emerging opportunities within a reshaped global supply ch
What is International Freight Network? Over the years, the economy of our day has become increasingly connected with everything and streamlined. International freight networks play an integral role in this connectivity by improving logistics and ensuring seamless movement of goods through air, sea, and land. Importance of Freight Forwarding Networks International freight networks are a worldwide association of shipping agents, cargo c
Poland's Baltic Container Terminal welcomes new MSC service Baltic Container Terminal (BCT), International Container Terminal Services, Inc.'s (ICTSI) operation in the Port of Gdynia, has been integrated into the rotation of MSC's Britannia Ocean Service. MSC's new service made its inaugural call in Poland's BCT on 9 April, marked by the arrival of the MSC Rose. The service offers a direct deep-sea connection between Asia and Northern Europe, covering maj
Hydrogen-powered generator piloted at Port of Gothenburg to cut emissions from docked ships A pioneering pilot project at the Port of Gothenburg is entering its final phase, testing a hydrogen-powered generator designed to supply electricity to ships while docked-a solution that could revolutionize shore-side power in ports lacking traditional infrastructure. Shifting ships from fossil-fuel engines to electric power while at berth significantly reduces emissions. The Port of Gothenburg
ONE's 13,700 TEU boxship makes first call at Ecuador terminal Ecuador's Terminal Portuario de Guayaquil (TPG) handled the 13,700 TEU container ship ONE Sparkle for the first time, as part of the vessel's inaugural voyage through Latin America. This call strengthens the partnership between TPG and Singapore-based shipping line Ocean Network Express (ONE). ONE Sparkle represents a new generation of ships designed for energy efficiency and sustainable maritime
Red Sea peace deal could flood container market with tonnage A return of commercial shipping to the Suez Canal route could flood the container market with excess tonnage and send freight rates plunging to pre-Covid lows
Capacity cuts reflect the Pacific market mood An 11% cut in Pacific capacity seen on the Asia to US trades is a key pointer to the huge effect, experienced as a direct result of the tariffs imposed since January by US president Donald Trump
Evergreen works with Chunghwa Telecom to automate new Kaohsiung terminal By Alison Koo, Asia Correspondent Taiwanese liner operator Evergreen Marine Corporation (EMC) has partnered with compatriot telecommunications group Chunghwa Telecom to automate container operations at Kaohsiung Port's seventh container terminal
New MSC headquarters in Hamburg MSC has completed the architectural competition for its new German headquarters in Hamburg's HafenCity. Frankfurt-based Wandel Lorch Götze Wach (WLGW) won the competition with an innovative design that was characterised by openness, lightness and sustainable building principles. Dr Melanie Leonhard, Senator for Economic Affairs and Innovation of the Free and Hanseatic City of Hamburg, underlined
Freightos Update: Blanks keep rates level; no de minimis air rate collapse yet; US-Houthi truce first step to Red Sea return? US tariffs on China - introduced and then quickly raised to 145% in early April - are already causing pain to the US logistics market and to shippers whose first goods subject to these tariffs are starting to arrive at US ports. The tariff hike has driven a sharp drop in China-US container flows, with manufacturing in China also being negatively impacted. And even with a 90-day tariff pause for m
Sea-Intelligence reports capacity reduction on Trans-Pacific Danish shipping data analysis firm Sea-Intelligence has examined the blank sailing trends on the Trans-Pacific market. The analysts said that over the past several weeks, there has been a sharp week-by-week increase in the number of blank sailings on the Trans-Pacific. "When we look across what was deployed in April and what is scheduled for May combined, blanked capacity accounts for 19% of the
Cargo volumes increase at Port of New York and New Jersey Port of New York and New Jersey surpassed all the other US ports in terms of loaded TEUs, while auto, rail and total volume all posted double-digit gains. The American port handled 516,757 loaded TEUs in March, a 9.7% increase from the same month last year. March's total volume of 783,732 TEUs rose by 11.7% year-on-year, bringing the first quarter total to 2,203,719 TEUs, representing a 10% incre
Maersk records strong Q1 financial results Danish container carrier Maersk has announced improved financial results for the first quarter of the year, driven by momentum in operational efficiency and a healthy global economy, according to the company's CEO, Vincent Clerc. In particular, the shipping giant reported an 8% revenue growth, reaching US$13.32 billion, an increase in EBITDA from US$1.6 billion in 2024 Q1 to US$2.7 billion in 202
Hapag-Lloyd increases rates from Asia to Americas German ocean carrier Hapag-Lloyd has announced a General Rate Increase (GRI) from Asia to the West Coast of South America, East Coast of South America, Mexico, Central America and the Caribbean. The GRI will apply to cargo transported in 20' and 40' dry containers, including high cube equipment and 40' non-operative reefers. The rate increase will apply from 15 May for all the following destinati
Port of Oakland proceeds with Berth 10 refurbishment The Port of Oakland proceeds with the refurbishment of Berth 10, a Dredge Material Rehandling Facility. To extend the service life of Berth 10, ShibataFenderTeam delivered five sets of Cone Fender systems (SPC 1000, G1.3), with closed-box steel panels (2286 x 3658 mm), all customized to meet the specific requirements of this aging terminal. Given Berth 10's narrow deck and limited load capacity,
Inchcape Shipping Services and Symmetry Group form joint venture in Guyana Inchcape Shipping Services (ISS) and Symmetry Group Inc. (SGI) have announced a strategic joint venture in Guyana. This partnership aligns with Guyana's Local Content requirements, combining the strengths of both companies to offer an enhanced, integrated suite of services tailored to the needs of the country's burgeoning oil and gas industry. Symmetry Group Inc. has acquired a 51% majority stake
Capital Clean Energy Carriers lands long-term fixtures for LNG newbuilds Evangelos Marinakis-backed Capital Clean Energy Carriers (CCEC) has secured long-term employment for two of its LNG carriers under construction in South Korea. The Nasdaq-listed company has fixed the 174,000 cu m at vessels to be named Athlos and Archon for five and seven years, respectively, with a five-year extension option for each ship. The charters ...
Torm sells off ageing LR2 Danish product tanker owner and operator Torm has continued the disposal of older tonnage with the sale of one of its two oldest LR2 vessels. The New York and Copenhagen Nasdaq-listed company has revealed the sale of an unnamed 2008-built LR2 unit with delivery to new owners expected during the second quarter of this year. ...
Costamare ships out 15-year-old handy New York-listed Greek owner Costamare has continued the trend of offloading smaller bulkers with another handysize set to exit the fleet. The Konstantinos Konstantakopoulos-led company is shipping out the 2010-built 31,775 dwt Resource, with delivery to an undisclosed new owner expected during the second quarter. Costamare bought the ship in July 2021 for about $12.6m ...
Fugro gets more survey work on UK offshore wind farm Dutch surveyor Fugro has been awarded a contract to perform comprehensive geotechnical surveys for the eastern array of the Dogger Bank South (DBS) offshore wind farms. The initiative is led by RWE and Masdar to develop one of the UK's most powerful offshore wind energy projects. The detailed surveys will provide data on subsurface conditions ...
ARO Drilling agrees extensions for five jackups with Saudi Aramco ARO Drilling, a joint venture of New York-listed offshore driller Valaris, has signed extensions for five jackup rigs with Saudi giant Aramco. The extensions, all for five years, were signed for the Valaris 250, Valaris 116, Valaris 146, Valaris 140, and Valaris 141 or as ARO Drilling referred to them in its statement, the Bob ...
Maersk slashes 2025 global container projections Danish liner giant Maersk has lowered its global container market forecast for this year due to increased macroeconomic and geopolitical uncertainty. Maersk has issued a fresh prognosis for market development in 2025, ranging from a 1% dip to a 4% increase, compared to the 4% rise projected earlier this year. The Vincent Clerc-led company said ...
How the business of chartering is evolving How brokers will evolve, and what owners and charterers will seek out of their broking houses in the years ahead formed much of the debate in the Chartering Spotlight panel at last week's Geneva Dry summit. Torbjørn Gjervik, CEO of Norway's Western Bulk, told delegates he felt the future of chartering would involve people who ...
Google inks offshore wind power deal with Shell US technology firm Google has signed a power purchase agreement (PPA) with Shell for the entire capacity of the 108MW Shell NoordzeeWind offshore wind farm, off the coast of the Netherlands. According to the US giant, this will be the first time that a corporate PPA will extend the lifespan of an offshore wind farm. ...
Evalend books suezmax newbuilds Greek owner Evalend Shipping has been linked to a fresh newbuilding deal in South Korea, this time for a pair of suezmax tankers. Shipbuilding sources report that the Kriton Lendoudis-led company has contracted 157,000 dwt units at HD Hyundai Samho for delivery in the first half of 2027. HD Korea Shipbuilding & Offshore Engineering (HD ...
Oceaneering bags work on BP's GTA field Houston-based Oceaneering International has been awarded a multi-year contract on BP's Greater Tortue Ahmeyim field off Mauritania and Senegal. The contract was awarded to Oceaneering's offshore projects group by BP's subsidiary BP Mauritania Investments for the provision of subsea inspection, maintenance, and repair services and remotely operated vehicle services. Oceaneering will support this c
Idemitsu Tanker orders methanol dual-fuel VLCC pair Japanese owner and operator Idemitsu Tanker has contracted to build two methanol dual-fuel VLCCs. The 339.5 m long, 309,400 dwt vessels are developed together with Japanese shipping lines Nippon Yusen Kaisha (NYK), Iino Kaiun Kaisha (Iino Lines) and Nihon Shipyard (NSY), a joint venture between Imabari Shipbuilding and Japan Marine United. The units, costing about ...
Harbour Energy cuts 250 jobs in Aberdeen over UK's 'punitive' policies UK-based oil and gas producer Harbour Energy has revealed plans to axe around 250 jobs in Aberdeen due to the government's "punitive" measures. According to the oil and gas firm, cutting around a quarter of its Aberdeen workforce comes as part of a review of its UK operations. The 250 jobs are on top of ...
No quick resumption of Red Sea transits on the cards The Houthis from Yemen appear not to have got this week's memo from the White House claiming that the Red Sea shipping crisis is drawing to a close. Donald Trump, the American president, said on Tuesday that after more than 17 months, the Houthis have agreed to halt their attacks on shipping and that Washington ...
Shipyard delivery lead times extend towards the end of the decade Shipyards and owners are increasingly willing to wait a long time for newbuilds. New data from Danish Ship Finance shows that 20% of all ships on order today will deliver only after more than three years from now. At the beginning of 2021, only around 5% of the global orderbook had been due for delivery ...
South Korea's largest shipyard set to welcome humanoids to workforce Amid ongoing workforce shortages, humanoids will start working at South Korea's largest shipbuilder soon. HD Korea Shipbuilding & Offshore Engineering) and HD Hyundai Robotics have signed a memorandum of understanding (MOU) with Houston-based Persona AI, and manufacturing firm Vazil Company. The agreement initiates a joint program to create humanoid robots capable of performing complex welding ...
Chinese terminals and teapot sanctioned as US increasingly targets buyers of Iranian oil The US introduced new sanctions on Thursday targeting Chinese buyers and facilitators of Iranian oil shipments and 'shadow fleet' vessels...
Nobody knows how to put out EV fires on ships, experts admit Still using old school 'dash and splash' approach to vehicle carrier blazes won't work on the latest generation of cars
D'Amico sees continued strength in product tankers Italian product tanker owner says sector is resilient enough to withstand various geopolitical outcomes
Maersk sees 30%-40% drop in China-US trade and 'race' for inventories Maersk's chief executive describes a scramble by US businesses to replace Chinese goods and keep inventories from depleting. If there...
Capital Clean clinches long-term charters for two newbuildings US-listed owner sees longer term LNG shipping market as 'robust' for quality owners with modern vessels
Torm revenues lifted by improved LR1 and MR freight earnings Time charter equivalent earnings improved for Torm's MR and LR1 fleet in the first quarter, but LR2 rates declined compared...
Shipping lines start to bypass Karachi as India-Pakistan tensions rise Container carriers are rerouting shipments and avoiding Karachi port amid rising India-Pakistan tensions, as safety concerns and emerging trade restrictions...
Costamare completes bulker spin-off as boxship demand remains buoyant Costamare Bulkers made its independent debut on the New York Stock Exchange this week
US accuses China of 'looking the other way' on North Korean imports Chinese imports from North Korea rose by nearly 20% in 2024, with imports of coal and iron ore in particular...
Cosco-controlled Piraeus Container Terminal to launch biofuel bunkering service The move aligns with EU and new IMO emissions regulations and follows Greece's updated biofuel standards allowing up to 100%...
Wallenius Wilhelmsen's Kristoffersen hopes for USTR fee reductions on vehicle carrier fleet Chief executive Lasse Kristoffersen said despite 'huge uncertainties' he expects 2025 to be another strong year for the company
Enquiries for new boxships surge at HD KSOE as US port fees shift orders from China Rising productivity driven by foreign labour efficiency and automation investments is further strengthening profitability and competitiveness
Pyxis obtains bank 'hunting licence' for new acquisitions US-listed owner is weighing both tanker and dry bulk tonnage after lining up new $45m loan
Improved dry bulk rates offer hope for Genco after poor first quarter Updated: Genco chief executive John Wobensmith said his company was in a good position to benefit from stronger rates, despite...
EU weighing new sanctions on Russia Dozens of individuals and entities and 150 Russia-trading vessels are being floated as targets for what would be the EU's...
The Daily View: Small steps, but in the right direction
Maersk stands by 2025 guidance despite murkier trade climate Chief executive Vincent Clerc cites operational efficiency improvements and increased focus on automation and cost management as key factors enabling...
Daily Briefing Why floating armouries are a dangerous problem that nobody wants to tackle | Trump says Houthis will stop attacking ships...
Tariffs amplify US warehousing demand, disrupt inland truck routes The tight supply of warehousing for frontloaded freight is diverting truck shipments as shippers reposition inventory.
Datacenter growth poses manufacturing hurdle, project carrier opportunity The main heavy-lift components needed for datacenters are cooling infrastructure such as large-scale air conditioners and backup power infrastructure such as batteries, diesel generators and transformers.
US in race to replenish China stocks to avoid summer shortages: Maersk CEO Importers in the US are rewiring their supply chains and drawing extra inventory from Canada, Mexico and domestically in a "wait and see" response to the trans-Pacific trade war, according to Vincent Clerc.
CMA CGM levies emergency surcharges on Pakistani trade amid India tensions Sources anticipate the additional rerouting costs in the region will force other ocean carriers to follow suit on similar surcharges.
Mining magnate linked to eight-ship bulker order in Japan Jhonlin Group company could be behind $320m dry cargo ship deal at Oshima
Okeanis Eco Tankers buys three VLCCs off leases as Greek banks provide lower-cost financing Alafouzos family ties in Greece's ship finance market help secure improved terms
Seafarer satisfaction stabilises despite ageing vessels pushing crew members to the limit Mounting maintenance demand putting strain on resources
Marinakis-backed Capital Clean Energy confirms long-term charters for LNG carrier newbuildings Owner does not reveal counterpart and rate for deals ranging between five and 10 years
Should Teekay Tankers buy shares, more ships or both with its cash pile? Chief executive Kenneth Hvid said tanker owner considering adjacent sectors MRs and VLCCs, but analyst wants buybacks
D'Amico International Shipping ramps up charter cover as weaker rates bash profit Italian owner's strategy is to gradually increase term contacts to avoid volatility
Seaways plots six VLCC buyback from OceanYield with savings in sight Lower costs on former Gener8-Euronav tankers could reduce operating costs even further
Adhart inks newbuildings as Executive shipowning arm expands Company now has eight newbuildings - four tankers and four bulkers - being built at New Dayang Shipbuilding
Oystein Stray Spetalen reaches 88% ownership after takeover bid for shipping investment firm Norwegian investor takes full control of Oslo-listed SD Standard ETC
Marinakis-backed CCEC confirms long-term charters for LNG carrier newbuildings Owner does not reveal counterpart and rate for deals ranging between five and 10 years
Trump, tariffs and the Red Sea: Torm chief tackles the big questions surrounding product tankers CEO believes growth in short-haul volumes would counter-balance unwinding of tonne-miles
UK shipping company fined after Sovcomflot sanctions probe Svarog Shipping & Trading failed to respond before two-week deadline over transaction with SCF subsidiary
Flip a coin: Maersk chief on container market growth in 2025 Danish carrier has revised its forecast of global container volume growth to between -1% and 4%
Monjasa set to pause Middle East LNG bunkering operations Company says fuel price spread is currently creating 'unfavourable market conditions'
International Seaways beats earnings expectations and guides to stronger current quarter Results fell year on year, but management forecasts improved prospects on factor including inventories
Wallenius Wilhelmsen trims guidance on US tariffs and port fees Company now expecting 2025 performance to mirror 2024
D'Amico International ramps up charter cover as weaker rates bash profit Italian owner's strategy is to gradually increase term contacts to avoid volatility
Costamare reveals profitable bulker sale as dry cargo operation stands alone First-quarter profit edges up in challenging markets for capesizes and panamaxes
After big merger, Pangaea Logistics does the hard work of explaining the hard work This week's Streetwise takes a look at the new Pangaea Logistics following its December merger with MT Maritime
Shipowners flock to understand 'complex' FuelEU Maritime rules, as the European Commission runs numbers Policy officer urges stakeholders to back IMO's proposal as forces work against it
Greek tanker snapped up by Indonesia's Waruna Group to boost MR expansion Burst of expansion at shipowner in recent weeks
US presses for sanctions on bulkers hauling North Korean coal Researchers say six ships delivered 17 cargoes to China since September
Ship sales buoy Stainless Tankers as it hands back profit to shareholders Tufton-based owner offloaded two vessels to South Korean player
KCC resumes full trading to US as combi carriers beat bulkers and tankers Norwegian owner says clarification of port fees allowed it to increase US business again
Odfjell adds two more chemical tanker newbuildings and buys leased ships Norwegian owner continues to renew fleet as profit falls
VLCCs busier as US crude imports to India hit two-year high Refineries taking more oil ahead of trade talks later this month
Ship's cook admits part in smuggling plot as cocaine found on Greek bulker Crew member confesses after Argentinean authorities seize 469 kg of drugs on Minoa Marine kamsarmax
Euronav and Tidewater bonds snapped up by Norwegian credit fund buys at 'attractive levels' Fund keeps cash to capitalise on opportunities
'Iron grip': Internal hire gets top job at Lloyd's of London Patrick Tiernan has worked at the world's largest insurance marketplace since 2021
Tanker giant Bahri's owned fleet reaches the 100-ship milestone as profit continues to climb Gains in dry bulk and logistics helped offset a challenging market
Wallenius Wilhelmsen remains upbeat on Q2 despite market uncertainty Norwegian owner's first-quarter profit rose 22% to $246m
US tariff headwinds to be offset by Asia growth, insists Wallenius Wilhelmsen Norwegian owner's first quarter profit rose 22% to $246m
Torm offloads older LR2 tanker as profit crashes in weaker clean markets Danish product tanker giant has seen rebound in rates so far in second quarter
Okeanis registers $500m of securities for sale to move quickly on acquisitions Big two shareholders also put shares on the shelf for potential disposals
Teekay Tankers buys modern Metrostar LR2 tanker as it offloads six older ships Greece's IMS snaps up LR2 from New York-listed group
Maersk methanol dual-fuel container ships dogged by engine 'teething problems' Company has tested out wide variety of bunkering options for new fuel
Ardmore's latest investment will allow its chemical tankers to carry a wider range of cargoes Company president expects 20% return on tank coatings upgrade
Maersk profit rises in first quarter amid 'increasingly volatile environment' Container giant keeps guidance for 2025
Swire Shipping becomes first global line to ban donkey skin shipments Company marks World Donkey Day with decision to halt trade
South Korea's Supreme Court puts Evergreen back on the hook in price-fixing legal battle Other container lines stand to be implicated in saga's latest twist
Index-linked contracts could alleviate pain caused by US shipping fees, says Xeneta Newly introduced Ships for America Act and USTR fees make it harder to choose carriers despite low freight rates
Idemitsu Tanker orders its first ever methanol dual-fuel VLCCs Newbuildings due to deliver in 2027 and 2028
Excelerate Energy unlocks more financial firepower as it delivers earnings growth Regasification vessel player forges deal to add $150m in credit capacity
Maersk expects no changes from US port fees The world's second-largest container shipping line sees no immediate changes from U.S. ship fees.
China Airlines finalizes deal for 4 Boeing 777-8 cargo aircraft China Airlines is investing in 14 next-gen 777 jetliners from Boeing, including all-cargo aircraft.
US container imports see one of strongest Aprils ever Frontloading helped drive April container imports higher by 9.1% y/y, according to a Descartes report.
Orient Overseas (International) Limited (OOIL), the subsidiary of the Chinese shipping group COSCO Shipping Holdings that operates containerized maritime transport services with ...
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