GLDD ended 2024 with $1.2 billion dredging backlog "Great Lakes had an outstanding 2024, with strong project performance and exceptional financial results," said Lasse Petterson, president and CEO of Houston-headquartered Great Lakes Dredge & Dock Corporation (Nasdaq: GLDD), as the
CMA CGM expands BIGEX network CMA CGM announced the launch of its new BIGEX 3 and BIGEX 4 services, which will complement the existing BIGEX 1 and BIGEX 2 options. This expansion is expected to enable the French carrier to provide the efficient direct links between India, the Middle East Gulf, and the Red Sea. Both weekly services are designed to offer industry-leading transit times and optimal reefer plug capacity to meet th
California judge stays HMM's D&D suit against Samsung Electronics The US courts have suspended HMM's suit against Samsung Electronics America for unpaid shipping, detention and demurrage charges.
Hapag-Lloyd applies new GRI from Indian Sub and Middle East to North America German ocean carrier Hapag-Lloyd has announced a General Rate Increase (GRI) or General Rate Adjustment (GRA) for cargo transported from the Indian Subcontinent and the Middle East to North America. This adjustment applies to 20' and 40' dry, reefer, and special containers, including high cube equipment. The new rates will take effect for all containers gated in full from 15 March 2025 and will r
Rethinking Access Control for Modern Apps Explore how Authorization as a Service simplifies access management and boosts application security.
COSCO SHIPPING launches WSA5 service in Colombia On 5 February 2025, the inaugural voyage of COSCO SHIPPING Line's WSA5 service to Port of Buenaventura was celebrated with festivities at the SPRB terminal in Colombia. The event marked the arrival of COSCO SHIPPING's vessel, Xin Hong Kong, which delivered 707 TEUs of goods from China, including automobiles, photovoltaics, major appliances, and small commodities, along with well wishes for the Ch
ONE and Yusen Logistics drive sustainable shipping with ONE LEAF+ Ocean Network Express (ONE) and Yusen Logistics have entered into a new partnership focused on sustainable shipping solutions through ONE's green shipping service, ONE LEAF+. This collaboration highlights the potential for advancing sustainable supply chain practices and eco-friendly marine transportation to deliver significant environmental benefits. Under this agreement, ONE will utilize sustai
IMF downgrades 2025-26 World Trade Growth projections The International Monetary Fund (IMF) recently released the January 2025 update to its World Economic Outlook (WEO), originally published in October 2024. This update includes key revisions to global trade growth projections, particularly for advanced economies. According to the following figure, global trade growth is expected to reach 3.2% in 2025 and 3.3% in 2026. However, both figures have be
CMA CGM applies new rates from Indian Sub to North Europe and Med New CMA CGM Freight All Kinds (FAK) rates will be applicable starting 1 March 2025 (gate-in date) and will remain in effect until further notice. These rates will apply to dry cargo shipped from the Indian Subcontinent, including India, Pakistan, and Sri Lanka, to North Europe and the Mediterranean destinations. 20' 40' FROM INDIA/PAKISTAN/SRI LANKA Amount in US$ per 20' Amount in US$ per 40' TO
US and India Deepen Defense and Trade Ties to Counter China's Influence The United States plans to ramp up military sales to India from 2025, including the provision of F-35 fighter jets, according to US President Donald Trump. Although no
Prosafe offloads 20-year-old flotel for $5m Offshore accommodation vessel specialist Prosafe has struck a deal with an undisclosed buyer for its semisubmersible vessel Safe Concordia. The 2005-built unit will change hands between March and June this year. The Oslo-listed owner said the deal is worth $5m before commissions and expenses. The Safe Concordia is currently operating in the US Gulf of ...
Altera sells FPSO to newcomer owner Amplus Energy UK floater player Altera Infrastructure has sold its FPSO unit Petrojarl I to Aberdeen-headquartered Amplus Energy. Described as the most deployed FPSO in history, the 1986-built vessel is changing hands for an undisclosed sum after completing its charter with Enauta at the Atlanta field in Brazil's Santos Basin. The 215-m-long unit was Altera's very first ...
Leadership change at Transocean Transocean has announced a change at the top for the Swiss-based offshore drilling giant as part of its multi-year succession plan. The New York-listed company's long-serving chief executive Jeremy Thigpen, is stepping down from his role and will be succeeded by Transocean's president and chief operating officer, Keelan Adamson. The transition is expected to conclude ...
MPC Capital secures funds for offshore service vessel joint venture French private equity firm and investment group Eurazeo and a large European family office have invested in MPC Capital's recently launched platform for offshore service vessels. The platform was initiated by a joint venture of MPC Capital and O.S. Energy - named MPC OSE Offshore - created late last year to develop, build, and manage ...
Maran Shuttle Tankers launches Altera Shuttle Tankers has officially changed its name following Angelicoussis Group's acquisition of the company from Altera Infrastructure. Angelicoussis affiliate Maistros Shiptrade bought the 18-vessel-strong tanker business which operates in Brazil, Canada and the North Sea for an undisclosed sum in November 2024. Its fleet was added to the group's 144 ships on the water ...
Splash survey sees average crew numbers onboard declining More than 70% of respondents to Splash's brand new survey conducted in association with Inmarsat believe ships will be crewed by fewer people onboard come the year 2035. Launched yesterday, the survey looks to identify how technologies and operations onboard will evolve over the coming decade with results due to be published in Ship Concept ...
NYK Line becomes majority owner of Northern Offshore Group Following a new investment, Japan's NYK Line has become the majority owner of the crew transfer vessel (CTV) operator Northern Offshore Group. N-O-G, an operator of over 60 CTVs in the global offshore wind industry, has had an operational and technical collaboration with NYK since 2019. The company has now become a part of the ...
SBM Offshore to study carbon capture module application on Petrobras FPSOs Dutch floater expert SBM Offshore will be conducting a study with Brazilian state-owned oil and gas giant Petrobras for the application of carbon capture modules on FPSOs. The module design is based on a successful engineering and design study done by SBM Offshore and Mitsubishi Heavy Industries, qualified by DNV. The design is based on ...
Geneva Dry Dialogues: Inchcape An agent's role in enhancing the efficiency of port calls for dry bulk shipowners is more significant than ever, argues Svend Stenberg Mølholt, chief commercial officer at Inchcape Shipping Services, in the latest in our ongoing series of Geneva Dry Dialogues, ahead of April's return of the world's premier commodities shipping conference. "A proactive and ...
Arabian Drilling forms alliance with Shelf Drilling to expand international reach Offshore rig owners Arabian Drilling and Shelf Drilling have signed a memorandum of understanding to form a strategic alliance. Under the agreement, Shelf Drilling will seek to use some of Arabian Drilling's high-specification jackup rigs to meet contract requirements. By combining resources, the alliance will be positioned to deliver services to customers and increase the ...
Van Oord lands new Polish offshore wind contract Dutch marine construction firm Van Oord has won a contract for subsea rock installation on the Baltyk 2 and 3 offshore wind developments in Poland. The contract with an undisclosed value covers the procurement, transportation and protection of the seabed around the foundations of wind turbines and offshore substations, as well as the routes of ...
Iraq's Jannat Alferdos sells its only VLCC Iraq's Jannat Alferdos Company for Oil Services has quit shipowning again. The one-ship-strong outfit has sold a 19-year-old VLCC only months after buying it. The ship was added for $40m when it was named Sake from Dynacom Tankers Management in September, and was then renamed with a more sober name, Alraya. The 300,400 dwt Ishikawajima Harima ...
Supersized MSC well placed in new liner constellation Mediterranean Shipping Co (MSC) is about to stretch its lead over its nearest rival to 2m teu with new data showing how well placed it has managed to become as a
Shipping stocks are trading far closer to 52-week lows than highs Shipping stock are clearly out of favour. The broader US stock market is leaving shipping equities behind. Based on the...
US naval forces rescue crew from sinking Iranian cargo vessel in Middle East Gulf US vessels in the Middle East Gulf rescued seven sailors from an Iranian vessel that suffered a 'significant' list and...
UK diplomat urges 'co-ordinated action' to confront dark fleet threat Policies must 'strike right balance' between security, efficiency and viability, says Intercargo chairman
Regulators and charterers under fire for sidelining safety IMO urged to regain balance between safety and environmental regulations
German/Norwegian partnership takes majority stake in Speedwell Companies to continue operation as independent entities
P&I clubs discriminating against singletons and old ladies Pool deficit for 2024 now confirmed as exceeding 2022 and 2023 put together, with more likely to come
Fire contained on board Grimaldi ro-ro after mayday call The UK's Dover Coastguard picked up mayday call this morning following fire, which was brought under control by the release...
Ship recycling prices fall as steel dumping fears grow There are concerns that Chinese steel will be diverted to the Indian sub-continent after the US announced a 25% tariff...
State port group and local refineries shed terminal ties in Shandong amid mounting sanction pressure The joint venture terminals are located in Dongying port, which has emerged as a bypass point for sanctioned tankers shifting...
Angelicoussis renames Altera to Maran Shuttle Tankers after acquisition Rebranding of new shuttle tanker division aligns with Maran name used across Greece-based group's fleet in other sectors
IMO asked to develop legal guidelines to protect undersea cables and critical maritime infrastructure Naval activity was stepped up in the Baltic Sea from January after two commercial ships severed undersea cables in what...
IQUW launches ports and terminals product The new product will be led by Ali Welchman, who was previously senior underwriter for transport and logistics at Markel
LNG bunker vessel orderbook grows as Sirius Shipping pens newbuilding in Türkiye Turkish shipbuilder RMK to build LNG and bio-LNG bunker vessel designed by Swedish ship designer FKAB
Phantom tanker with fake IMO number exposed in new deceptive shipping scam Latest fraud underscores how evolving deceptive shipping practices are tricking government and regulatory agencies involved in the authorisation and issuing...
The Daily View: Expectation management Your latest edition of Lloyd's List's Daily View - the essential briefing on the stories shaping shipping
PSA venture capital unit partners Saudi government agency for supply chain start-ups The collaboration will identify, nurture and invest in promising start-ups, while jointly developing products with a clear path to commercial...
ONE and Yusen Logistics collaborate on sustainable shipping solutions Yusen Logistics is the first Asian logistics company to sign on with the carbon insetting service, which sees vessels using...
CSSC makes another key leadership change This marks the latest in a series of leadership changes at CSSC, following a reported anti-corruption crackdown and management restructuring
Daily Briefing China's Dongying port acts as sanctions bypass valve following vessel calls | Russia-US peace talks to end Ukraine war 'generally...
US regulator reopens truck broker-transparency proposal for new comments The Federal Motor Carrier Safety Administration will accept additional comments on a proposed rule that would require brokers to make transactional data available to carriers.
Mediterranean-US East Coast container services get revamp for 2025 SeaLead is offering a new service from Turkey after Hapag-Lloyd ended one of its standalone loops following the launch of the Gemini alliance with Maersk.
Asia-Europe carriers dangle contract discounts before shippers: Xeneta Spot rates on the eastbound corridor are fast converging on long-term prices, and carriers want to lock in cargo owners ahead of a return to Red Sea transits and the resulting capacity overhang.
Rethinking Access Control for Modern Apps Explore how Authorization as a Service simplifies access management and boosts application security.
Large US truckload carriers, expecting more demand, rein in capacity cuts The Journal of Commerce Truckload Capacity Index hit a 10-year low in the fourth quarter, but its rate of decline has slowed considerably as truckload pricing begins to rise from its bottom.
Biofuel not the answer to shipping decarbonization: carriers Unless legally binding safeguards are introduced, there is a risk that fossil fuels will be replaced with unsustainable biofuels that provide "a cure worse than the disease," shipping groups said in an open
Star Bulk offloads supramax and forges loan deals as profit growth comes in below expectations Financial moves free up cash but dividend sinks
Safe Bulkers period-charter strategy pays off amid resilient profit and growing cash pile Polys Hajioannou-led bulker player has cut its spot exposure to less than a fifth of its fleet
Shadow-fleet flag states enter global league of major players Eswatini, Gabon and Guinea-Bissau make ICS table for the first time after dramatic rise in tonnage
US rescues crew from sinking Iranian general cargo ship Vessel goes down after all seven crew members are taken aboard Coast Guard vessel
Allied Shipbroking scoops Greek finance man from Braemar to be chief executive Hellenic shop tasks experienced executive with expanding core activities
Diana Shipping-backed offshore start-up seals €182m newbuilding loan New owner taps Credit Agricole for post-delivery financing for four offshore wind ships
Cruise giant Carnival Corp eyes $1bn notes issue to refinance debt New notes on better terms will replace paper coming due at the end of the decade
Is this the beginning of the end for the dark fleet? Brokers and analysts weigh in on potential mass scrapping and fire sales of tankers if sanctions are lifted
Drone attack may cut output from oil pipeline feeding Russian port by one-third Full throughput resumption expected within two months, Transneft says
Washington and Moscow 'only at the beginning' of sanction talks, Russian negotiator says Negotiation progress could take up to three months, according to official
Drone attack may cut output from oil pipeline feeding Russian port by a third Full through-put resumption expected within two months, Transneft says
Five brokers identified behind new Baltic chemical tanker assessment four years in the making Portfolio expansion or new rate frequency not ruled out
'Crazy stock market': Avance Gas chief Oystein Kalleklev cashes out shares in $2m exit Shares trade well above announced value of final dividends
CMA CGM to grow Indian network after visit from Prime Minister Narendra Modi French carrier backs new India-Europe maritime corridor and launches services
Washington and Moscow 'only at the beginning' of sanction talks, says head of Russia's sovereign wealth fund Negotiation progress could take up to three months, according to official
NYK takes over Swedish owner Northern Offshore to boost wind shipping operations Japanese giant follows years of collaboration with deal for majority stake
Venture Global LNG gives commercial start date for US plant three years after first exports Newly US-listed company says it can now supply its long-term customers with contracted volumes
'Crazy stock market': Avance Gas chief Oystein Kalleklev cashes in $1.9m stock options Shares trade well above announced value of final dividends
Oil giant Sonangol selects Hyundai shipyard for suezmax tanker newbuilding order State oil company signs letter of intent for two conventionally fuelled vessels
Thenamaris says 'security incident' probe underway after twin explosions hit moored tanker below waterline Crew reported two loud bangs during unloading of crude
Container volumes hit record highs, led by US import surge Sector proves 'resilient' but uncertainty over 2025 prospects remains
Shorting big-name shipowners ahead of results pays off for Gersemi fund in record month Joakim Hannisdahl-led operation reported 9% gain in January
UK P&I Club reveals tonnage tonic as shipowners lock down renewal contracts Pool claims set to be highest ever for 12-strong International Group, says leading club
European Union countries spent over $6.6bn on Russian LNG in 2024, IEEFA says By 2030, Europe's regasification capacity will be more than three times higher than its LNG demand
Lauritzen Bulkers sources small biofuel cargo to meet FuelEU requirements for chartered ship Danish operator says it still faces challenges in developing market for alternative fuels
Maersk boosts India's maritime ambitions with new shipbuilding alliance Collaboration with Cochin Shipyard aims to avoid global yard capacity constraints
Capesize rate forecasts chopped by Arctic Securities after 'soft start' to the year Norwegian investment bank highlights top pick Himalaya while downgrading Western Bulk
Angelicoussis Group changes name of Altera Shuttle Tankers following takeover Greek owner aligns new operation with other subsidiaries through use of Maran name
China's Hengli Heavy Industry lands first newbuilding order from Japanese owner Doun Kisen is said to have ordered four kamsarmax bulk carriers at about $37m each
Investment giant and family office buy into MPC Capital offshore vessel venture Eurazeo leads €70m equity fundraising for joint venture building six innovative ships
Twin explosions hit moored Thenamaris tanker below waterline Crew reported two loud bangs during unloading of crude
Greek owner Centrofin set to swoop on Enesel product tanker pair Dimitris Procopiou emerges behind high-profile acquisition of modern LR2 vessels
VLCC rates to push $80,000 per day in prolonged upcycle driven by Donald Trump's crackdown on Iran Clarksons and Braemar weigh in on effect of Donald Trump's crackdown on Iranian oil
'Wild card' market: Why owners have 'hedged their bets' with very large ammonia carriers Ammonia market is expected to grow, but in smaller vessels at first. That's OK, VLACs are just souped-up LPG carriers
Courage Investment forecasts loss reversal, with net profit of $1.6m predicted for 2024 Hong Kong-listed shipowner to release 2024 financial results in March
China's Hengli Heavy Industry lands first-ever newbuilding order from Japanese owner Doun Kisen is said to have ordered four kamsarmax bulk carriers at about $37m each
Hengli Heavy Industry lands first-ever newbuilding order from Japanese owner Doun Kisen is said to have ordered four kamsarmax bulk carriers at about $37m each
London law firm Penningtons Manches Cooper expands shipping team in Singapore Max Lim, who joins from Rajah & Tann, set to strengthen historic British law firm's position in Singapore
US East Coast port sees largest-ever boxship call The OOCL Iris on Tuesday became the largest-ever container ship to call the Port of Charleston.
Rise in China e-commerce traffic lifts Cargojet to record revenue Cargojet is focusing more on charter business as e-commerce retailers and other companies seek dedicated airlift, which helped boost revenue more than 30% in the fourth quarter.
In slow season, tariffs a following wind for trans-Pacific container rates Shippers have won a reprieve from levies on the United States' largest trading partners, but tariff threats are boosting frontloading.
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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