Global News
Global names back association to promote nuclear power in shipping
NEMO will be headquartered in London and will officially start activities in the second quarter of 2024. The association aims to assist nuclear and maritime regulators in the development of appropriate standards and rules for the deployment, operation, and...
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
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
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
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
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
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...
The ‘vastly different’ time horizons of shipping bosses and investors
Did container liner execs recklessly binge on newbuilding orders, needlessly sabotaging their own bottom lines (and stocks) for years to come? Are some public tanker companies shortchanging their own shareholders by not returning enough capital via dividends and...
Taiwan International Port upgrading terminal facility at Kaohsiung
TIPC is to invest NT$4.47 billion ($139.8 million) to upgrade infrastructure at the third and fifth container terminals of Kaohsiung port which will significantly increase the terminals handling capacity and operational efficiencies. Draught will be deepened and...
Decarbonisation set to boost Middle East oil producers and VLCCs
The analysis will please the small group of VLCC owners who have embarked on something of a VLCC spending spree in recent weeks. Through the course of 2023, VLCCs on order had fallen to a long-time low. The few contracts that were placed were at significantly higher...
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
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
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...
Dearth of tonnage drives ship recyclers to chase small vessels
Bangladeshi breakers lead the way, followed closely by recyclers in Pakistan, but they are bidding on low-quality units with components already removed, poor steel, corroded ballast tanks and permanent ballast., according to GMS, the world’s largest cash buyer of...
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...
World first use of ammonia fuel in trial on Fortescue vessel in Singapore
The dual-fuel ammonia-powered vessel, owned by Australian mining group Fortescue, was loaded with liquid ammonia at Vopak’s terminal on Jurong Island in Singapore for the fuel trial. The Fortescue Green Pioneer was loaded with five cubic metres...
Houthis vow to expand attacks against shipping into the Indian Ocean
The official spokesman for the Yemeni Armed Forces Commander Abdulmalik Badr al-Din al-Houthi announced on the Houthi’s Telegram channel that the group intends to spread its sphere of operations across a region that covers thousands of square miles. The commander...
Dearth of tonnage drives ship recyclers to chase small vessels
Bangladeshi breakers lead the way, followed closely by recyclers in Pakistan, but they are bidding on low-quality units with components already removed, poor steel, corroded ballast tanks and permanent ballast., according to GMS, the world’s largest cash buyer of...
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
"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
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...
Nautilus calls for Red Sea transit halt after True Confidence attack
The appeal comes after three seafarers were killed when bulk carrier True Confidence was struck by a missile in the Red Sea on March 6. “We believe it is time for those shipowners who are continuing to transit through the Red Sea to reassess the necessity...
South Africa Buys Tugboats as Efforts Proceed to Improve Port Efficiency
South Africa’s ports operator Transnet reports it is moving forward with a fleet renewal program as part of an overall effort to tackle the perennial challenges of inefficiencies that have placed the ports at the bottom of international rankings and led to massive...
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...
Rubymar Sinks in Red Sea 13 Days After Houthi Attack Damaged Bulker
The bulker several damaged in a Houthi attack and abandoned by its crew finally succumbed to its damage reportedly sinking after having drifted since the February 18 attack. The government of Yemen issued a statement reporting the sinking of...
Ukraine and UK Brokers Extend Affordable War Risk Insurance to All Cargoes
Ukraine has won an agreement with the major insurance brokerage networks in the UK to expand the current war risk insurance program to cover ships carrying all non-military cargo. Previously the program was limited to grain and foodstuffs but will now permit Ukraine...
Fearing Long-Term Problems in Red Sea, Cruise Lines Change Plans
The cruise industry is starting to rethink its plans into 2025 as increasingly they believe the problems in the Red Sea will persist. It is a view shared by the commercial shipping industry, but with travelers making vacation plans cruise lines need to think longer...
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
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
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...
Baltrader cement carrier to be fitted with Norsepower Rotor Sail
The German Government is funding the installation of a Rotor Sail on Baltrader’s new cement carrier CemCommander this summer. The project attracted funding from the German Federal Government’s Directive "Sustainable Modernization of Coastal Vessels" (NaMKü) programmed...
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
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...
Seafarers can refuse to sail through Red Sea, but a lot of planning needed
With the continued, and worsening threat to shipping while transiting the region from Houthi rebels in Yemen, the IBF Warlike Operations Area Committee (WOAC) has agreed to expand the High Risk Area to include the Gulf of Aden and surrounding waters. Stephen...
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
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...
Tanker Optimized for Wind-Assisted Propulsion Achieves Strong Fuel Savings
A partnership between Finland’s naval architects Deltamarine and UK-based BAT Technologies looks to develop new standards in sustainable shipping. The companies held a presentation in London for their new concept, a wind-optimized design for an Aframax/LRII tanker...
Complexities of compliance with the EU Emissions Trading Scheme
The EU ETS first emissions trading system requiring owners, operators and charterers to pay for their ships’ emissions. At a Lloyd’s Register webinar on 7 February, classification society experts ran through the complex regulations and the steps required by owners and...
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...
ICTSI to develop Iloilo port complex in central Philippines.
ICTSI will rename it the port complex as Visayas Container Terminal. “We recognise the port’s pivotal role in driving Iloilo's economic and social growth. Our comprehensive proposal outlines significant investments in infrastructure...
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...
QatarEnergy announces next phase of record fleet growth programme
The vessels will enter into timecharters with affiliates of QatarEnergy and Nakilat, the company said in a statement. It is the first award in the second phase of long-term time charters in the largest-ever LNG fleet expansion programmed. Qatar Energy’s LNG Fleet...
ILWU and Portland Terminal Settle Long Dispute Which Bankrupted the Union
The International Longshore and Warehouse Union and International Container Terminal Services settled a more than decade’s long dispute involving the operation of Portland, Oregon’s sole container terminal which forced the ILWU to file for bankruptcy in September...
US Indicts Iranian Oil Network, Individuals, Tankers, and Seeks Oil Cargo
The U.S. Justice Department revealed on Friday three sweeping legal cases launched in U.S. federal courts in New York and the District of Columbia aimed at interrupting the Iranian oil trade. They revealed a widespread network launched by Iran starting in 2018 to...
ICS Proposes $40 Carbon Levy With No Automatic Increases
The International Chamber of Shipping has formulated a revised proposal for an IMO carbon emissions fund. As with earlier proposals, it would see two-way financial flows going in and out of one fund - carbon-emitting shipowners would pay money in, while...
Vietnam’s Ports Benefit From Geopolitics and Trade Wars
Vietnam’s main ports have shot up the world rankings in terms of volumes of container-based traffic as manufacturers increasingly pull out of China in the wake of the tariff-based trade war with America. As the latest data on Vietnam’s growing “connectivity” –...
European Ethanol Producers File Challenge to FuelEU Maritime Regulation
An industry group representing European ethanol producers launched a legal challenge they announced yesterday seeking to at least partially annul the FuelEU Maritime Regulation saying that it improperly addresses sustainable biofuels such as renewable ethanol. In a...
The Law and Practice of Container Shipping
The evolution of container shipping has played a crucial role in transforming international trade and shipping, making it more efficient, cost-effective, and interconnected. Today, container shipping is ubiquitous and efficient. The most recent ULCV, the MSC...
Red Sea Tanker Fire Extinguished
The fire aboard the Marshall Islands registered tanker Marlin Luanda is reported to be out and the vessel is proceeding to an unspecified safe harbor. Trafigura, which chartered the vessel, provided the update confirming that the crew of 23, including...
EU Launches Effort with Shipping Lines and Ports to Fight Drug Smuggling
The European Commission announced the launch of a new public-private partnership, the European Ports Alliance as the latest step to increase the fight against drug trafficking through Europe’s ports. It comes as Europe has seen a dramatic increase in drug smuggling...