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Red Sea crisis has negative impact on gas ship CII ratings

Red Sea crisis has negative impact on gas ship CII ratings

The firm’s statistics recorded 64 LNG carriers navigating through the Gulf of Aden and Suez Canal during January and February 2023. In the same period this year, the number had fallen to just seven. In the reverse direction, 59 vessels took the Suez/Gulf of...

Tangshan port adds two large bulker berths

Tangshan port adds two large bulker berths

The northern Chinese port of Tangshan in Hebei province is planning to build a 300,000 tonnes-class bulk cargo berth and a 300,000 tonnes-class ore berth. These two new berths will bring 25.6 million tons annual cargo handling capacity to the port having a...

T&E survey shows lines profiteering over EU ETS charges

T&E survey shows lines profiteering over EU ETS charges

A study by the Brussels-based Transport & Environment group analysed 565 journeys taken by 20 vessels to and from Europe operated by four of the world’s largest carriers, Maersk, Hapag-Lloyd, MSC and CMA CGM, and found that the lines were over-charging in more...

Wartsila says fuel price parity possible by 2035

Wartsila says fuel price parity possible by 2035

In its report – ‘Sustainable fuels for shipping by 2050 – the 3 key elements of success’ – the Helsinki-based company declared that decisive emissions policies such as the inclusion of shipping in the EU Emissions Trading System (ETS) from January this year, and...

OceanScore boss warns of ETS compliance issues

OceanScore boss warns of ETS compliance issues

Grell cites demarcation of responsibility between owners, managers, and charterers, the buying and selling of EU Allowances (EUAs), charter party terms, and data management, as some of the issues that have not yet been properly addressed by many shipping firms. ...

Ports of Southampton and Singapore explore green partnership

Ports of Southampton and Singapore explore green partnership

The two ports discussed various areas of potential cooperation regarding sustainable maritime transport during the UK-Singapore Green Economy Framework (UKSGEF). The meeting was seen as paving the way for further discussions on green and digital shipping cooperation...

Documentation delays push industry costs to $3bn

Documentation delays push industry costs to $3bn

However, some shippers and forwarders believe an electronic payment system favours the shipping lines, who can use the system to make late payment charges, adding another minor revenue stream to their income. Container Trade Statistics calculates that around 173m...

Port of Los Angeles container volumes up 60% in Feb

Port of Los Angeles container volumes up 60% in Feb

The Port of Los Angeles handled 781,434 teu in February this year compared to 487,846 teu in February 2023. “Market confidence in our gateway is as strong as it’s ever been,” said Port of Los Angeles Executive Director Gene Seroka at a media briefing. “We’ve...

Wartsila says fuel price parity possible by 2035

Wartsila says fuel price parity possible by 2035

In its report – ‘Sustainable fuels for shipping by 2050 – the 3 key elements of success’ – the Helsinki-based company declared that decisive emissions policies such as the inclusion of shipping in the EU Emissions Trading System (ETS) from January this year, and...

Saudi launches port community system

Saudi launches port community system

The President of the General Ports Authority,  Omar bin Talal Hariri, explained that the launch of the PCS is part of MAWANI’s effort to channel technology to serve the maritime transport system, raise the efficiency of the operational performance of the Saudi...

DP World launches global freight forwarding network

DP World launches global freight forwarding network

DP World said that with businesses seeking increased control over their supply chains, its expansion comes at a pivotal time for the global logistics and supply chain industry. By expanding its freight forwarding offering, with a focus on air and ocean freight. DP...

Empty container availability fears slide as demand wanes.

Empty container availability fears slide as demand wanes.

Growth in empty repositioning since 2019 had seen an increase of 20% in terms of teu moved in 2023 compared to four years ago, but also the growth in full containers has increased globally by 2.5%, with an 8% increase in teu miles, according to one analyst using...

Argentina plans $550 million new port in Rosario

Argentina plans $550 million new port in Rosario

"We're announcing an investment for the construction of a new agro-industrial port in Timbues, on the Parana River," presidential spokesperson Manuel Adorni told a news conference, referring to a town some 50 km north of the city of Rosario,” Reuters reported. "The...

ICTSI reports 4% container volume growth in 2023

ICTSI reports 4% container volume growth in 2023

The company said the increase in consolidated volume was mainly due to the contribution of Manila North Harbour Port, Inc. (MNHPI) in Manila, improvement in trade activities, and new services at certain terminals. But volumes were impacted by the...

Heavy Lift Alliance Gets Bigger With Addition of Intermarine

Heavy Lift Alliance Gets Bigger With Addition of Intermarine

Three years ago, heavy lift operators Jumbo and SAL lifted a page from the liner sector and entered into an alliance agreement. That model has been successful enough that they are now adding a third member, Intermarine, which operates smaller multipurpose vessels in...

Unifeeder adds two more methanol feeder vessels.

Unifeeder adds two more methanol feeder vessels.

The 1,250 teu pair are due for delivery in 2026, one each from German shipowner Elbdeich Reederei and Norwegian shipowner MPC Container Ships (MPCC). The deal builds on charters made in October 2023 for two similar vessels from Elbdeich Reederei. X-Press feeders...

Shipping associations welcome EU Red Sea operation Aspides

Shipping associations welcome EU Red Sea operation Aspides

The Council of the EU announced that the defensive operation will have an initial one year duration and a mandate to protect commercial vessels against attacks at sea by providing situational awareness and accompanying ships in the region. In its announcement, the EU...

BYD expanding fleet with seven new car carriers by 2025

BYD expanding fleet with seven new car carriers by 2025

Chinese automobile manufacturer BYD is planning to put seven new car carriers into operation in the coming two years to meet the growing export demand. Wang Chuanfu, Chairman and President of BYD stated in Guangdong Provincial High-quality Development...

Shenzhen provides subsidies to LNG carrier operators.

Shenzhen provides subsidies to LNG carrier operators.

The southern Chinese port city of Shenzhen is offering subsidies to LNG operators to boost its development as an LNG trading hub city. According to the notice from Shenzhen Development and Reform Commission, Shenzhen is going to actively explore new LNG trading...

Houthi attacks on shipping in Red Sea continue

Houthi attacks on shipping in Red Sea continue

A 58,800 dwt Supramax bulker was fired on by Houthis as it transited the Gulf of Aden, some 85 nautical miles southeast of Aden, causing minor damage to the vessel, but there were no crew casualties or injuries according to the latest reports. Lycavitos operated by...

No change in Panama Canal restrictions before April

No change in Panama Canal restrictions before April

The Deputy Administrator for the Panama Canal Authority (ACP), Ilya Espino de Marotta, says the waterway does not expect changes to current vessel transit restrictions until at least April. The ACP will assess water levels after the dry season before making any...

Container leasing rates reach for the skies

Container leasing rates reach for the skies

US shippers are diverting east coast cargo, already shifted from the Panama Canal to via Suez, to west coast ports, boosting southern California port volumes and raising box leasing prices through the roof. Online box leasing and trading company Container xChange...

AD Ports takes over Karachi Port East Wharf operations.

AD Ports takes over Karachi Port East Wharf operations.

The agreement will see a joint venture between AD Ports and Kaheel Terminals, Karachi Gateway Terminal Multipurpose Limited (KGTML), develop, operate and manage berths 11-17 at the East wharf of Karachi. The new concession grants 1.5 km of quay wall to KGTML for...

Piraeus port inaugurates expanding car terminal.

Piraeus port inaugurates expanding car terminal.

Greek Shipping and Island Policy Minister Christos Stylianides pointed out at an inauguration ceremony 6 February for the new car facilities, the Ministry's goal is to promote sustainable urban development, the use of sustainable transportation methods and advanced...

Local News

Logistics, a magic bullet for sustainable trade?

Logistics, a magic bullet for sustainable trade?

B ATTLES are won with tactics. Wars are won with logistics, Tesla chief executive officer Elon Musk said. Indeed, improving performance of logistics helps organisations and economies further engage in local and international trade. This makes logistics a powerful...

Asia feels the pinch of growing ‘food chokepoints’

Asia feels the pinch of growing ‘food chokepoints’

In recent years, global food security has suffered from overlapping crises caused by conflicts, geopolitical tensions, climate change, and the Covid-19 pandemic, resulting in severe food supply disruptions. These disruptions have been accentuated by several “food...

New service tax increase is rational, says analyst

New service tax increase is rational, says analyst

PETALING JAYA: On March 1, Malaysia’s service tax rose from 6% to 8%, sparking concerns about price increases during the 2024/2025 school term and Ramadan.The Madani government, led by Prime Minister Anwar Ibrahim, assured that essential items like food, beverages,...

Ports kick off 2024 on a good note

Ports kick off 2024 on a good note

KUALA LUMPUR: The ports segment started the year on a positive note as the export volume index rose five per cent to 156.5 points in January 2024 from 148.5 points in January 2023, said AmInvestment Bank Bhd. In a note, the research house has maintained its overweight...