INEOS and Royal Wagenborg launch Carbon Destroyer 1 In a major milestone for the Project Greensand carbon capture and storage project, thefirst European-built CO2 carrier, Carbon Destroyer 1, was launched and named yesterday at the at the Royal Niestern Sander
Owners, yards and class team up on safety at Ship Repair USA At this year's Marine Log's Ship Repair USA conference attendees will gain critical insights into one of the most pressing challenges in the maritime repair sector: aligning safety practices and regulatory compliance
Hapag-Llloyd applies higher rates between Far East and Europe German ocean carrier Hapag-Lloyd has announced updated tariff rates for Freight of All Kinds (FAK) between the Far East and Europe. The increased prices will apply to cargo transported in 20' and 40' dry and reefer containers, including high cube equipment, and will be valid for sailings commencing on 1 June 2025. US$ / Dry 20' & 40' 20' 40' 40' HC North Europe 1,900 3,200 3,300 West Mediterranea
Suez Canal Offers Incentives Amid Fears of Houthi Regrouping and Regional Instability The Suez Canal transit fee discount reflects Egypt's desperation to revive the canal's traffic amid fears that Houthi militants are preparing a new wave of attacks in the Red Sea, jeopardizing fragile maritime stability in the region
Vietnam and Thailand race to capture China+1 shipping gains As the geopolitical rift between China and the United States deepens, the global manufacturing and shipping landscape is undergoing a historic shift. At the center of this realignment is the China+1 strategy-a growing movement by multinational firms to reduce dependence on Chinese factories by relocating production to other countries across Asia. Nowhere is this shift more visible than in the shi
Port of Cromarty Firth awards US$2M pre-construction contract for major offshore wind expansion The Port of Cromarty Firth has awarded a GB£1.5 million (US$2 million) pre-construction contract to leading Scottish civil engineering firm RJ McLeod, marking a key milestone in its GB£111 million (US$148 million) Phase 5 expansion project. This development is expected to significantly enlarge the existing 9-hectare Quay West facility and deliver essential infrastructure to support the rapid grow
Hapag-Lloyd increases Asia/Oceania-Pakistan rates Hapag-Lloyd will implement a General Rate Increase (GRI) from Asia and Oceania to Karachi Port and Muhammad Bin Qasim Port in Pakistan and vice versa. The Hamburg-based carrier will introduce a GRI of US$500 per container and will apply to all cargo in 20' and 40' dry containers, reefers, and special equipment. The updated rates will be effective from May 28 until further notice. If you liked thi
EU agrees on new sanctions package targeting Russia's shadow fleet On May 14, European Union (EU) ambassadors reached an agreement on the EU's 17th sanctions package against Russia, intensifying pressure on the Kremlin amid its continued aggression in Ukraine. The new measures are heavily focused on curbing Russia's shadow fleet of oil tankers and countering hybrid threats. European Council President António Costa emphasized the unity behind the decision, statin
Greek owner Minerva buys seventh boxship for over US$30 million Greek shipping company Minerva has acquired the three-year-old, 1,781 TEU container ship Mindoro from German vessel owner Briese Schiffahrt for US$31.5 million. The transaction represents a solid return for Briese Schiffahrt, which originally ordered the vessel in 2021 for US$26 million, according to Alphaliner data. Renamed Little Symphony, the vessel remains on charter to the German ocean carri
DP World bets big on Latin America DP World's recent strategic investments in Latin America reveal a clear and deliberate pattern focused on securing and strengthening its presence in critical transshipment and nearshoring hubs, in line with broader global trade shifts toward supply chain diversification and regionalization. At the heart of DP World's latest move is a US$760 million investment in the Dominican Republic, aimed at e
Red Sea states to strengthen marine pollution response capabilities Countries bordering the Red Sea are enhancing their preparedness and response systems to address major marine pollution incidents involving oil and hazardous and noxious substances. From 5-8 May 2025, a subregional workshop held in Hurghada, Egypt, brought together 18 government officials from Djibouti, Egypt, Eritrea, Jordan, Saudi Arabia, Somalia, and Yemen. The event focused on developing tech
ONE revises West Asia service network Singapore-based box carrier Ocean Network Express (ONE) has announced an update to TIG and TIP services on its West Asia Service Network. ONE expects the revised TIG service to enhance global connectivity to and from Pakistan through optimized transshipment with multiple ONE service networks. TIG Service ONE will remove Nhava Sheva and Mundra ports from the TIG service rotation, while Karachi and
Transpacific exposure trumped bullish charter market in 2024 Transpacific routes proved to be crucial for mid-tier shipping lines in 2024, according to Alphaliner
Russia to revive shipbuilding sector to reduce external dependence As global supply chains undergo tectonic shifts driven by sanctions, war, and geopolitical rivalry, Russia is charting a bold course to reassert control over its maritime destiny. In a sweeping strategy unveiled by the Russian government, the nation aims to construct over 1,600 ships by 2036 and 2,600 by 2050 in a transformative endeavor to replace reliance on foreign vessels and reposition Russi
China-US de-escalation may spur early peak season: Freightos Analysis The US and Chinese governments have announced a 90-day de-escalation of the tariffs introduced by both sides in April. Starting May 14th, the US will reduce its reciprocal tariffs on China from 125% to 10%, which - together with the 10% tariff increases introduced in February and again in March targeting fentanyl flows from China - bring the new baseline to a 30% minimum tariff on all Chinese exp
COSCO establishes new company in Saudi Arabia In late April, the Chinese shipping giant COSCO established a new company in Saudi Arabia, COSCO SHIPPING Lines (Saudi Arabia) Co., Ltd., holding an unveiling ceremony in Dammam. Zhang Yong, Executive Vice President of COSCO SHIPPING, Abdullah Munif, Vice Chairman of Saudi Ports Authority, Tian Dong, Chairman of COSCO SHIPPING West Asia, Cen Wei, General Manager of COSCO SHIPPING Lines Saudi Arab
Hapag-Lloyd increases rates from Indian Sub to North America German ocean carrier Hapag-Lloyd has announced a General Rate Increase (GRI)/General Rate Adjustment (GRA) from four Indian ports to the US East Coast, as well as from Pakistan to the United States and Canada. Effective for cargo transported in 20' and 40' dry, reefer and special containers, including high cube equipment, the updated rates will be effective from 15 June until further notice. The
CMA CGM implements operational protection measures amid India-Pakistan tensions French ocean carrier CMA CGM has announced a series of network adjustments aimed at mitigating the operational impact of ongoing geopolitical tensions between India and Pakistan. New PIKEX Service Launched As part of a regional service review, CMA CGM has introduced a new route, designated PIKEX, featuring the following port rotation: Jebel Ali (United Arab Emirates), Khalifa (United Arab Emirate
HMM records US$2 billion in Q1 revenue South Korean container shipping company HMM has announced solid results in the first quarter of 2025. In particular, HMM reported a 23% revenue jump year-on-year to KRW2,855 billion (US$2 billion), a 51% increase in operating profit, reaching KRW614 billion (US$439 million) and a 52% growth in net profit to KRW740 billion (US$520 million). "Despite declining freight rates and the impact of U.S. t
Positive Q1 results for Hapag-Lloyd Hapag-Lloyd concluded the first quarter of 2025 with EBITDA of US$1.1 billion, EBIT of US$487 million and profit of US$469 million. The German ocean carrier moved 3.3 million TEUs in the first three months of the year with an average freight rate of US$1,480/TEU, both of which were 9% higher than in the same quarter of 2024 due to strong demand. Rolf Habben Jansen, CEO of Hapag-Lloyd, expressed h
Ceasefires Ease Tensions in Maritime Flashpoints, Yet Threats Linger Amid recent diplomatic efforts to stabilize two of the world's most volatile maritime regions-the Red Sea and the Indian Ocean-a sense of fragile calm has emerged. However, maritime security analysis warns that beneath the surface, persistent threats continue to endanger global shipping routes crucial to energy and trade flows
Arctic Shipping: A Conditional Strategic Avenue for China and Russia As global maritime trade routes face growing instability, a new corridor is beginning to draw strategic attention: the Arctic. During a high-profile meeting in Moscow, Russian President Vladimir Putin and Chinese leader Xi Jinping reaffirmed their shared interest in expanding cooperation in Arctic shipping and energy projects. With the Northern Sea Route (NSR) already hosting 95% of its cargo bet
Net Feasa unveils AI-driven container marketplace Net Feasa has announced the launch of Agentic Control Tower, a next-generation platform that redefines container logistics through Artificial Intelligence (AI)-driven automation. This end-to-end visualization and booking system integrates traditional container workflows with Agentic AI, turning each container into an intelligent agent capable of managing its own journey. With Agentic Control Towe
Fednav's Paul Pathy takes over at BIMCO The world's largest shipping association, BIMCO, has elected its first president from the Americas. Paul Pathy, president and chief executive of Canada's largest dry bulk shipping company, Fednav, is taking over from Nikolaus Schües, CEO of German owner F. Laeisz, who is finishing his two-year term. "I am honoured to take on the role of ...
EU sanctions target nearly 200 Russia-linked ships European Union countries have agreed to impose a new raft of sanctions against Russia, including those targeting nearly 200 ships in the so-called shadow fleet used to circumvent restrictions on oil and gas exports. The new round of sanctions, set to be adopted next week, comes as Moscow and Kyiv may hold their first peace ...
Norden exercises option for two more MPPs Danish shipping giant Norden has decided to increase its multi-purpose (MPP) fleet by signing newbuilding leases with purchase options for two vessels. These two vessels are options to the recently signed deals for two identical vessels set to deliver in 2026. This latest pair of 17,500 dwt vessels is expected to be delivered in 2026 ...
Minerva buys another modern boxship Greek owner Minerva has bought the three-year-old, 1,781 teu Mindoro boxship from Germany's Briese Schiffahrt for $31.5m. The sale makes a tidy profit for the German owner, who ordered the ship in 2021 for $26m, according to data from Alphaliner. The ship has been renamed Little Symphony and it remains on charter to Hapag-Lloyd through ...
Washington issues further sanctions aimed at Iran's trade with China The US on Tuesday announced fresh sanctions on Iranian oil sales to China, as president Donald Trump's administration continues its "maximum pressure" campaign against Tehran. The US Treasury said that it is sanctioning nearly two dozen firms that it alleges facilitate Iran's international oil trade. Sanctioned entities include so-called front companies based in China and Hong ...
Erasmus box fleet hits double digits Busy Athens-based non-operating owner Erasmus Corp has taken its box fleet into double-digits with Alphaliner reporting another triple swoop this week. Erasmus is tied to the acquisition of the 2,741 teu Jeju Island for $20.5m as well as the 1,809 teu Kestrel and 1,696 teu Ela for an en bloc price of $45m. Erasmus has ...
Vitol and Grindrod winding down bunkering firm Cockett A famous name in bunkering is to fade from view. Vitol and Grindrod have decided to close down their bunkering business, Cockett. The joint shareholders of the marine fuels and lubricants trader said the operation will be wound down in an orderly manner. Cockett will continue to fulfil all its existing obligations to both suppliers ...
ADES bags multi-year extension for jackup in Qatar Saudi oil and gas driller ADES has signed a multi-year contract extension for one of its jackup rigs. ADES signed a deal for the 2009-built Sapphire Driller with what it described as a "major operator in Qatar". The extension is for a firm duration of four years, with three additional one-year options. If all options ...
Viking Supply Ships adds to its AHTS fleet Christen Sveaas' Viking Supply Ships has expanded its anchor-handling tug supply (AHTS) fleet with a new acquisition. The Stenungsund-based firm said on Tuesday that it entered into an agreement to buy the 2012-built Ice Class 1A AHTS vessel Atlantic Kestrel from Canadian company Atlantic Towing. The 85 m vessel, originally named Jaya Supreme, was the ...
NYK to build car terminal in Barcelona Japan's Nippon Yusen Kaisha (NYK) has been awarded a 27-year concession from the Port of Barcelona for a finished-vehicle logistics terminal. The new facility, scheduled to commence operations in 2027, will incorporate a fully automated multilevel parking system, utilise renewable energy, and have an annual throughput of around 180,000 vehicles. In a release, NYK said ...
Peak coal and energy security dominate discussion at Geneva conference The future of coal was one of the dominant topics crystal balled at this year's Geneva Dry conference, with some panellists believing that last year saw the peak in seaborne trades. The panel, led by Benjamin Wilkes, chief operating officer of d'Amico's dry cargo division, opened with coal's largest importer, China, and discussed where the ...
New Fortress Energy charters FSRU for LNG terminal in the Dominican Republic US-based LNG player New Fortress Energy has executed a three-year charter agreement for the Energos Freeze FSRU with Energía 2000 in the Dominican Republic. The 125,000 cu m floating storage and regasification unit will be deployed to Energía 2000 LNG import terminal in Pepillo Salcedo (Manzanillo) port and is expected to commence operations in September ...
Suez Canal offers discount in bid to lure boxships back Egypt's Suez Canal will offer a 15% discount for the next three months on transit fees for containerships of approximately 13,500 teu and above in terms of capacity, to encourage trade back, with recent headlines suggesting the Red Sea shipping crisis is coming to a close. The Suez Canal Authority said the offer was in "response to ...
Maersk welcomes new European source of e-methanol The world's first commercial-scale e-methanol plant began operations in Denmark yesterday, with Maersk set to buy part of the production. The Kassø e-methanol facility in Aabenraa, developed by European Energy and operated in collaboration with Mitsui & Co, has an annual production capacity of 42,000 tonnes and operates entirely on renewable energy sources. Situated next to Northern Europe's larg
CMA CGM launches seafarer recruitment site Acknowledging the challenges in sourcing the right numbers of staff at sea, French liner giant CMA CGM has launched CMASHIPS.com, the company's first global seafarer recruitment website. The site is an open gateway for seafarers from around the world to apply for positions aboard CMA CGM vessels. It brings together all the group's agencies, subsidiaries, ...
AD Ports Group expands presence in Kazakhstan Abu Dhabi's AD Ports Group is expanding its business in Central Asia, signing with KazMunayGas (KMG), the national oil company of Kazakhstan, to build four shallow-draft containerships designed for use on the Caspian Sea, each with a capacity of 780 teu, and contemplating investing with KMG in up to four aframax tankers. Additionally, preliminary heads ...
US-China trade war détente should bolster boxship charter market The containership charter market has been surprisingly resilient in the post-pandemic era. With downside risk from the trade war abated...
Danaos 'holds off' further new ships for now after run of 22 boxship newbuild orders Greece-based orderer of methanol-ready newbuildings says conventional vessels remain 'default option'
EU rules a game changer for fully electric ferries, says Kongsberg Fully electric ferries in Europe now have a real business case because of European regulations, and the IMO's new net...
West of England blames pool scheme for combined ratio overshoot Capital strength described as resilient after good investment returns
Fednav's Pathy takes over as BIMCO president First president from the Americas 'committed to raising awareness' on shipping and seafarers
We were wrong about dry bulk scrapping, again Many tipped 2025 to be the year that elderly bulk carriers finally went to the breakers, but rates remain good...
Tankers: geopolitics will be wildcard, but demand is fundamentally unexciting Predicting what happens in the second half of the year with tankers (or any other shipping segment) may be a...
MSC snaps up post-panamax boxships and MPV as secondhand prices hold firm MSC is expected to add even more secondhand tonnage over the coming weeks as more boxships come on to the...
Hapag-Lloyd to begin vessel reshuffling after US-China deal The German line recorded a net profit of $469m in the first quarter of 2025, up 45% on the corresponding...
NYK to develop vehicle logistics facility in Barcelona NYK and its ICO subsidiary will use solar power to drive the automated site
Dry bulk gloominess remains in 2025, but brighter times could be ahead Analysts and owners remain pessimistic about the dry bulk market's performance in 2025, but there is cause for some optimism...
The Daily View: Building empires
Fledgling Saudi operator Folk Maritime boosts feeder fleet Folk Maritime continues to enhance its vessel portfolio through the acquisition of a trio of new ships, increasing its operational...
HMM expects persistent market volatility despite strong quarterly results Trade tensions, vessel oversupply and geopolitical risks have clouded future prospects, said the South Korean carrier
Daily Briefing Marine insurers underwriting Russia tanker calls after crude prices drop below cap | Russia to launch huge shipbuilding programme | Suez...
Eastbound trans-Pac spot rates in revival mode in wake of US-China trade deal Rates are climbing quickly amid fresh Chinese volumes headed to the US, with an expected crunch in vessel capacity and the potential for port congestion driving the gains.
Panama Canal Authority hits back at FMC chokepoint probe as unwarranted The canal agency highlighted data that refutes Trump administration claims about unfair treatment at the waterway, while the International Chamber of Shipping said freedom of navigation is a global responsibility.
Overcapacity, trade seasonality push India-Europe rates to multi-year low On top of the persistent pressure of overcapacity and muted demand, industry sources have also linked the market softening to the historical seasonal pattern of the Indian export trade.
China-US ocean bookings surge since weekend trade deal: Hapag-Lloyd The predicted rush to get US imports from China on the water has begun as shippers take advantage of the 90-day cut in tariffs, according to CEO Rolf Habben Jansen.
Okeanis Eco Tankers profit slumps in line with analyst expectations Second-quarter bookings show better earnings are ahead for New York-listed tanker owner
Navigator Gas preps $50m share buyback after profit growth comes in above expectations New York-listed gas carrier operator sees vessel earnings grow despite slim ethylene arbitrage
Tensions flare in Baltic as video shows Estonia attempt to intercept Russia-trading tanker Helicopters, warships and fighter jets scramble in chase for Gabon-flagged aframax
Margaritaville at Sea buys third ship for that Cheeseburger in Paradise Jimmy Buffett-themed Florida cruise operator buys Carnival Corp vessel
Geopolitical 'noise' hijacking shipping agenda, Clarksons' Stephen Gordon says Seaborne trade is expected to stall in 2025 due to market uncertainties
Robert Kuok's PaxOcean shipyard group on the expansion trail in three countries Shipbuilding cooperation with Samsung is just one of Singapore shipyard group's cradle to grave expansion moves
Private equity-backed Ocean Yield sees profit drop by a fifth Vessel lessor raised new cash and made new investments during the period
Fednav's Paul Pathy says 'free trade under threat' as he takes Bimco presidency Ioanna Procopiou becomes president designate shipowners' group
Private equity-backed Ocean Yield sees profit drop by one-fifth Vessel lessor raised new cash and made new investments during the period
Donald Trump promises to lift sanctions on Syria and meets with 'tough guy' leader Move comes four months after easing by Biden administration
Sanctions hamper tentative crude tanker recycling rebound, shipbroker SSY says UK broker says total number of ships scrapped so far in 2025 is just two behind last year's annual figure
Three Russian marine insurers added to Indian approved list Eight Russian companies now allowed to supply cover for vessels calling India's ports
Edison welcomes arrival of Italy's first long-term contracted US LNG But says London arbitration with producer Venture Global is ongoing
VLCC rates fall further as owners hold breath for Opec-induced rally June cargoes give owners hope as oil cartel starts pumping
CMB.Tech splashes $500m on VLCC and suezmax newbuildings as it extends investment drive Alexander Saverys' company is investing in ammonia-ready crude tanker newbuildings
Greek bulker owner George Chatzis nears the 50-ship mark in fresh growth spurt Piraeus-based Newport SA and Grehel Shipmanagement expand with both secondhand ships and newbuildings
Sanctions dodgers rebrand Venezuelan crude as Brazilian bitumen to keep tankers heading to China Sources tell Reuters the practice is cutting costs and evading US sanctions
Latsis and Costamare leasing platform backs Alphard Maritime swoop for offshore fleet Mexican owner Cotemar selling vessels in stronger sale-and-purchase market
Shipbuilder Nantong Xiangyu breaks into newcastlemax segment with latest series Chinese yard is known for building midsize bulkers and chemical tankers
Costamare and Latsis leasing platform backs Alphard Maritime swoop for offshore fleet Mexican owner Cotemar selling vessels in stronger sale and purchase market
US-China tariff deal leading to surging container volumes, says Hapag-Lloyd Carrier to replace smaller ships with larger ones to deal with 50% jump in cargo
Meet 'Carbon Destroyer 1' as first European-built LCO2 carrier launches Ineos chief Jim Ratcliffe watches on as Catherine, his wife, names pioneering ship in livestreamed event
SFL logs $34m impairment after selling two supramax bulkers Shipowner reports net loss in first quarter
Bulker fails to sell on Chinese auction site for a second time after bidders steer clear Auction site has been incentivising shipbrokers to bring in bidders
European Union boosts anti-Russia sanctions list by 189 vessels New measures are part of Europe's 17th round of sanctions against Russia
Bulker fails to sell on Chinese auction site for a second time after bidders steel clear Auction site has been incentivising shipbrokers to bring in bidders
Egypt seals deals on three FSRUs as it locks in import capacity One in place, another on the way and some switch arounds to come
Gianluigi Aponte's MSC splashes $100m on container ship trio from Greek and Cypriot owners Perennial buyer keeps foot on the pedal with more 6,000-teu ships purchased from Global Ship Lease and Cyprus Sea Lines
Donald Trump-Xi Jinping dealmaking offers shipping a shot of certainty amid tariff chaos At least imports of Chinese goods to the US can start again
Taiwan's 'Big Three' carriers in the money for now, but warn of uncertain future Revenues up at Yang Ming, Evergreen and Wan Hai during first quarter
Trygve Seglem's Knutsen OAS reveals record profit as contract backlog tops $20bn Private gas carrier and tanker group expecting to make even more money this year
Torm upgraded by Pareto after losing premium pricing Danish tanker owner's stock rises 6% in Copenhagen
Rodolphe goes to Hollywood: CMA CGM boss Saade pumps cash into iconic French film firm Billionaire's investment company takes 20% stake in production and distribution group Pathe
Norden signs up for two newbuildings amid multipurpose expansion drive Danish owner-operator is doubling down on its commitment to its parcelling business
Gianluigi Aponte's MSC splashes $100m on container ship trio from Greek and Cypriot owners Perennial buyer keeps foot on the pedal with more 6,000 teu ships purchased from Global Ship Lease and Cyprus Sea Lines
Aurora Tankers sells veteran brace amid dip in asset values Price of older chemical tankers appears to be dropping
Hafnia taps former Shell exec Emily Tan to replace founder Erik Bartnes BW Group tanker company boosts board back up to five directors
Expanded fleet boosts earnings at giant South Korean owner HMM Profit rose despite declining boxship rates and US tariffs
Suez Canal seeks to lure back large container ships with special offers after US-Houthi ceasefire Rebate applies from 15 May as transits show little sign of recovery
Iran attack: Ship rammed by small boat in vital waterway Master reported message from 'authorities' requesting vessel to stop and allow boarding
Pangaea Logistics says revamped board a factor in dividend-buybacks plan Management grilled by equity analyst over decision to halve distribution
Insurers picking up the bill for trade disruption, Greek conference told Inflation, rerouting and increased weather-related damages on an ageing fleet are contributing to additional costs
Danaos holds off on new vessel investments amid 'pay-to-pollute' IMO rules Greek owner deplores lack of ambition in latest decarbonisation rules
Trygve Seglem's Knutsen OAS reveals record profit as contract backlog tops $20bn Private gas carrier and tanker group expecting to make even more money this year
Kathrine Fredriksen leaves Avance Gas board as new directors brought in for liquidation John Fredriksen group managers moved in to oversee wind-up
Avic Leasing to auction Chinese-built bulker coming off lease from SDTR Marine Market sources say Singapore-based bulker player is scaling back on long-term charters due to market uncertainties
Robert Kuok's PaxOcean shipyard group on the expansion trail in three countries Shipbuilding cooperation with Samsung is just one of Singapore shipyard group's cradle to grave expansion moves
Tariff two-step: After pause, China-US container bookings soar 277% Shippers are rushing to bring in stalled China imports following a pause in the U.S.-Sino tariff fight.
Maersk looks to fill up container ships in a flash (sale) The world's second-largest container carrier wants to kick-start the reset of China-U.S. shipping with a sale on freight rates.
DHL eCommerce to merge with UK courier Evri DHL continues to ramp up investment in the e-commerce space with a large stake in U.K.-based parcel delivery company Evri.
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