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Fortescue Unveils Ammonia-Fueled Ship Calling for Regulations to Catch-Up
Fortescue, an Australian mining company that is working to become a green technology company, reports it completed the retrofit to create the world’s first ocean-going ammonia-fueled ship. The company’s flamboyant founder and chairman Andrew Forrest arrived in Dubai...
The Virtual Watch Tower: A Public Good
Building the new economy revolves around data, internet-of-things (IoT), artificial intelligence (AI), cloud and federated computing. The shipper-driven, terminal-centric Virtual Watch Tower / VWT (www.virtualwatchtower.org) is a federated computing initiative,...
2024 Could be “Even More Brutal” for Container Carriers Warns Xeneta
The handwriting has been on the wall for some time with analysts warning that the container shipping segment was facing a prolonged period of hard times brought on by falling volumes, oversupply, and declining rates. Widely followed indicators such as the Drewry World...
Western Australian Government Unveils Plan for Relocation of Fremantle Port
Following years of intensive studies and consultations, the Western Australian (WA) government has unveiled its preferred design and location for the relocation of the container operations currently in Fremantle. The port, which handles nearly all the container...
Another Panama Canal red flag: Spiking product tanker rates
Product tanker rates from U.S. to Chile and Peru have doubled since Nov. 1 Yet another signal on the Panama Canal situation is flashing red: Spot rates are surging for product carriers — specialized tankers carrying diesel, gasoline and jet fuel — that transit the...
More ship recycling options for European owners as EU revises ‘waste’ definition
Owners of EU-flagged ships will now be able to dispose of vessels for recycling at demolition yards on the Indian subcontinent provided that they meet European Union Ship Recycling Regulation (EU SRR) criteria. This follows an agreement by the European Union (EU) and...
Illegal seafarer recruitment fees average $1,800
The charging of recruitment fees to seafarers is forbidden under the Maritime Labour Convention (MLC) but the practice is still widespread. Under the MLC there is the employer pays principle, however, a presentation by Ben Bailey, Director of Programme for Mission to...
Challenges still lie ahead with EU ETS for shipping
Implementation of the EU Emissions Trading System (EU ETS) for shipping is still creating challenges for the industry with some parts of the legislation yet to be enacted and decisions to be made on who will be responsible for paying the charges still undecided....
Durban Warns It Could Take 15 Weeks to Clear Backlog as 60 Ships Wait
Port officials in South Africa are reporting it is likely to take until 2024 and possibly till February to clear the current congestion that has built up at the container port in Durban. Consistently at the bottom of port rankings for efficiency, Durban is facing a...
‘Dire’ scenario for shipping lines more likely as spot rates fall back
There’s a lot at stake for container lines’ 2024 bottom lines in the last few weeks of 2023. If lines can’t push up spot rates very soon, next year’s annual contract rates will reset much lower versus this year’s. That scenario — which would have a very negative...
By 2030 all newbuildings will be dual-fuel capable
Discussing ‘Solutions heading for zero carbon’ at the Greener Shipping Summit in Athens last week, Michael Jeppesen, Promotion Manager, MAN Energy Solutions, said the company will “by the end of 2024, be able to deliver our first ammonia powered engine, a...
Thailand revives the Kra Canal but this time as a Landbridge.
Thailand is seeking investors for a $28 billion landbridge across the Isthmus of Kra which would allow shipping bypass the busy sea route of Malacca Straits, reviving the centuries old Kra Canal project. Thai Prime Minister Srettha Thavisin is expected to...
Container shipping – a return to ‘normal’
Port of Los Angeles (Port of LA) Executive Director Gene Seroka provided some very useful insights into developments at the Federal Maritime Commission (FMC) and on the ongoing efforts among transportation community participants to improve information flows in his...
El Niño wreaks havoc on global shipping patterns
Across every continent shipping is having to contend with the fallout from this year’s El Niño, a weather phenomenon that has helped cut drafts along major waterways, slashed agricultural production in key export markets, and could herald a stormy Pacific for vessels...
Panama Canal crisis forces US farm exports to detour through Suez
As a record-setting drought throttles transits through the Panama Canal, most of the focus has been on higher-capacity ships: the container vessels, liquefied natural gas carriers and liquefied petroleum gas carriers that use the larger Neopanamax locks. But...
DP World Australia Resumes Terminal Ops After “Serious” Cyber Incident
Terminal operations resumed at DP World Australia’s four locations after a weekend stoppage due to what government officials described as a “serious” cyberattack. The company’s ability to quickly recover from the incident however may be hampered by the Maritime Union...
Panama Canal restrictions: enough capacity for containerships but not gas carriers
Even restricting the Panama Canal number of Neo-Panamax transits to just five there should still be enough capacity for containerships, however, it will be a different story for other vessel types such as gas carriers. Marcus Hand | Nov 10, 2023 As Panama...
Panama Canal making drastic cuts to booking slots as drought worsens
Article-Panama Canal making drastic cuts to booking slots as drought worsens. The Panama Canal announced a series of sharp reductions in booking slots to just 18 daily by February 2024 following the driest month of October in 73 years. The Panama Canal stated in an...
Competition in container terminal market hots up as concessions end
Concessions to operate container terminals around the globe are coming to an end and the competition between terminal operators to win the new contracts on offer is intensifying in a number of locations. Drewry Shipping Consultants conducted a global survey of 27...
Bleak times ahead for container shipping: analysts
A series of analyst reports over the last week from Xeneta, HSBC Global Research, and Sea-Intelligence present a downbeat picture ahead for container shipping with overcapacity leaving carriers subsidising shippers on key routes. Despite a spell of super-profits as...
Flurry of Activity Along Black Sea Corridor After Multi-Day Stop
Ships are again moving along Ukraine’s Black Sea corridor after what appeared to be a multi-day stop in all traffic as a result of reports that Russian forces were again dropping explosive devices in the area. Despite continuing Russian activity, the ships are again...
Environmental Hazard as Cargo Ship Loses Containers in Canadian Far North
The Nunavut government and Canada are scrambling to deal with a potential environmental issue and boating hazard in the northernmost territory, a region located south of the Arctic Circle but with a polar climate and freezing cold for much of the year. Late on Friday...
Containerships Reach Highest Average Age Despite Newbuilds BIMCO Reports
The global container shipping industry is at the cusp of a major configuration in terms of fleet age as newbuilds prepare to enter service over the next two years and replace an aging fleet. According to the industry trade group BIMCO, the container fleet has reached...
Report: Containership Overcapacity Could Last to 2030 or Beyond
The container shipping segment could be beginning a much longer and more challenging period according to a new analysis from Sea-Intelligence. The Danish analytics firm issued a forecast this week highlighting that the container segment’s current level of overcapacity...
How Middle East war could impact global LNG, LPG shipping
War in the Middle East changes the geopolitical calculus for ocean shipping, compounding existing threats from Russia’s invasion of Ukraine. Two of the top energy cargoes at risk in the Middle East are liquefied petroleum gas (LPG) — propane and butane — and liquefied...
Chinese Line Files First Carrier Complaint with FMC Over Congestion Fees
Most of the complaints over congestion surcharges have been leveled by shippers and trucking companies against carriers and terminals, but in a reversal of fortune, the Federal Maritime Commission yesterday received its first complaint from a carrier against a...
E-fuels and retrofits likely to underpin decarbonisation drive
Two-thirds of the respondents in a recent Accelleron survey see a competitive advantage in the use of e-fuels and no fewer than 93% of the 200 participants believe e-fuels will make a decisive contribution to more sustainable shipping. Retrofitting existing ships is...
The Panama Canal is ‘climate dependent’
The Panama Canal has reduced its maximum draught to 44 feet and is cutting the number of daily transits to 31 compared to 36 – 38 normally as it battles an extended dry season. Explaining the decision for an additional reduction in the daily transit maximum to 31 from...
Container lines set out EU ETS surcharges
Indications of charges to be levied by Maersk, Hapag-Lloyd, and CMA CGM to cover the costs of the EU Emissions Trading System (EU ETS) have been released this week, with estimates ranging from €7 to €105 per teu. Nick Savvides | Oct 13, 2023 From January the EU...
Fighting in Gaza Could Lead to Shipping Disruption in Strait of Hormuz
As suspicion grows of Iranian involvement in the planning of the terrorist attacks in Israel last weekend, analysts are turning their attention to the potential for the conflict to spread to the Persian Gulf and the Strait of Hormuz, the world's most important...
War in Israel: The new geopolitical flashpoint for ocean shipping
Wars and pandemics — geopolitical and global health crises causing widespread suffering and death — have the side effect of hiking profits in certain industries. Wars inflate returns for defense contractors. The pandemic was a bonanza for certain pharmaceutical...
Rotterdam Reduced Port Fees for Early Adopters of Future Sustainable Fuels
The Port of Rotterdam announced it will begin offering a substantial port fee reduction for ships that bunker sustainable fuels as part of its efforts to support the early adoption of new green fuels including methanol and in the future ammonia. The effort is ahead of...
Panama Canal cuts again daily transits as drought continues
The Panama Canal Authority (ACP) has announced it will reduce daily transits to 31 from 32 as a severe drought continues and may last until next year. To avoid delays and ship backlogs, the ACP will also offer a new schedule for the Neopanamax locks and the Panamax...
Cartagena is the largest transhipment hub in the Caribbean
The Port of Cartagena Group (SPRC) is Colombia’s main export port, connecting over 840 ports in 140 countries making it the largest hub and most connected port in Latin America and the Caribbean. Michele Labrut | Oct 06, 2023 SPRC operates 3 port facilities...
ITF recovers nearly $120 million in unpaid seafarer wages over 3 years
The International Transport Workers Federation (ITF) recovered some $36 million in unpaid wages to seafarers in 2022, a figure very similar to the previous year. Publishing figures on World Maritime Day the ITF said it had recovered $118.5 million in wages to...
Surge in Chinese Trade Leads to Pileup of Empty Containers in Russia
Russia's trade with the West has plummeted since the invasion of Ukraine and the imposition of sanctions, and it has quickly substituted commerce with China instead. That exchange, however, is not evenly balanced - and it is resulting in a steady accumulation of empty...
Panama Canal adjusts freshwater charge
The Panama Canal has announced that it will modify the variable component of the Fresh Water Charge (FWC) which will take effect on 1st October. As part of the Canal's efforts to manage the maximum draught available for transit through the Canal, The Panama...
Container freight rates to hit 2016 levels
Overcapacity and stalling demand are driving container shipping rates to new lows, according to the latest Market Pulse report from consultant Linerlytica. Nick Savvides | Sep 27, 2023 Asia to Europe rates are already below 2019 levels and there is a real risk...
Container shipping has a Europe problem and it’s getting worse
With all the attention on U.S. consumers and inventory levels, Europe’s importance to shipping lines can get lost in the shuffle. The Asia-Europe trade is pivotal to container shipping operators — and this trade is now under severe pressure. Judah Levine, head of...
Trouble ahead: Container shipping rates sinking further into the red
Trans-Pacific spot rates have fallen by double digits over past month It’s not looking good for container shipping lines. Peak season is running out of whatever limited steam it previously had. Spot rates are sliding into loss-making territory. Rates “continue to lose...
New fuels, new risks
New fuels, new risks The rise of alternative fuels both for vessel propulsion and as part of cargo such as electric vehicles is resulting in new risks for marine insurers. Marcus Hand | Sep 20, 2023 The emerging risks come against the backdrop of a generally positive...
Container shipping market back in 2019
Alan Murphy, CEO and founder of Copenhagen supply chain analyst Sea Intelligence, has warned of widespread service cancellations on major trade lanes across the Pacific Ocean and between Asia and Europe between now and the end of the year. Paul Bartlett | Sep 22, 2023...
Container line blank sailings surge for Golden Week period
The number of blank sailings by container lines during China’s Golden Week has surged sharply according to analysts Sea-Intelligence. Despite concerns that shipping lines were failing to act ahead of the seasonal lull around the week-long Chinese Golden Week holidays...
Critical years ahead for container shipping
Increasing congestion at container depots and the end of the 2M alliance in January 2025 could see further supply chain disruption and another shake-up in carrier collaboration and operations. MSC and Maersk announced the break up of their alliance earlier this year,...
ESG Index for shipping launched at LISW
As shipping companies face mounting pressure to introduce or strengthen their environmental, social, governance (ESG) strategies, a new framework has been developed to assist in this process. Speaking at The Time for Change is Now, a joint WISTA UK and Seatrade...
Shipping needs 40% of global zero carbon fuels to meet 2030 target
In its latest research into the energy transition DNV estimates that between 44 and 62 million tonnes of oil equivalent (Mtoe) production will be produced by 2030 with an estimated demand for carbon neutral fuels of 17 Mtoe by that date. Highlighting the challenges...
Vessels turned away from Brazil’s Port of Santos due to congestion
BTP was reported to have been unable to receive two scheduled container ships for operation last week. BTP is a joint venture between APM Terminals, part of AP Moller Maersk, and MSC’s Terminal Investment’s Ltd (TIL). Both vessels attempted to divert to the other two...
Capital Gas Ship Management Orders Two Very Large Ammonia Carriers
Capital Gas Ship Management Corp. announces the order for the world's first two 88,000 CBM (?) very-large ammonia carriers (VLAC) with KSOE. The innovative vessels will be constructed at HD Hyundai Heavy Industries in Ulsan and are scheduled to be delivered by the...
Industry unites over battle against invasive species in cargoes
Shipping lines, shippers, and governments are working together to combat the global issue of pests carried in containers and bulk cargoes that can cause billions of dollars in crop damage. Nick Savvides | Aug 25, 2023 The spread of invasive species via the...
Containerships largely unaffected by Panama Canal delays
The number of vessels waiting to transit the Panama Canal has grown, however, containerships with reservations have seen minimal impact in terms of waiting times. Marcus Hand | Aug 31, 2023 The restrictions on transit numbers and draught put in place by the Panama...
Local News
Malaysia Paper Packaging Market to Soar Beyond US$ 3.3 Billion by 2032, Fueled by Sustainable Practices and E-Commerce
CHICAGO, UNITED STATES, February 21, 2024 /EINPresswire.com/ -- The 𝐩𝐚𝐩𝐞𝐫 𝐩𝐚𝐜𝐤𝐚𝐠𝐢𝐧𝐠 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐢𝐧 𝐌𝐚𝐥𝐚𝐲𝐬𝐢𝐚 is poised for remarkable growth, with projections indicating that the market 𝐯𝐚𝐥𝐮𝐚𝐭𝐢𝐨𝐧 𝐰𝐢𝐥𝐥 𝐞𝐜𝐥𝐢𝐩𝐬𝐞 𝐔𝐒$ 𝟑.𝟑 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟐, flourishing at a 𝐜𝐨𝐦𝐩𝐨𝐮𝐧𝐝...
Cross-border drone delivery between Malaysia and Singapore in the works
A new initiative is set to introduce cross-border drone delivery services between Malaysia and Singapore. The focus will be on critical deliveries such as urgent documents, high-value electronics, medical supplies, and perishable foods. The project is being...
Preserving our ocean’s jewels
“The need to restore coral reefs is evident, not only for marine life but also for the livelihood and food security of coastal communities.” SABAH is facing an increasing menace of fish bombing, with multiple incidents reported each year. Also known as blast fishing,...
Orchids can generate RM4bil in exports yearly, says Agriculture Dept
SEPANG: The export of Malaysian orchids can contribute up to RM4bil a year to Malaysia’s floriculture industry due to high demands from other countries, says the head of the Department of Agriculture Floriculture Industry Unit (Floriculture Industry Development...
Maybank IB: Impact of Red Sea conflict on Malaysia minimal but some shipments may be delayed
KUALA LUMPUR, Feb 15 — The ongoing conflict around the Red Sea would have minimal impact on Malaysia’s sea freight companies but some shipments of certain goods could still expect delays and higher freight costs, Maybank Investment said in a note issued yesterday....
Malaysia mega-port begins construction
A new facility in Kuala Linggi International Port (KLIP) in Malaysia has officially begun construction, Port Strategy reports, kicking off the first of 42 months of work. The $3.15 billion investment is expected to become a key hub for international trade....
Analysts say SST tax expansion revenue to benefit more people in the form of cash aid, urban infrastructure and healthcare
KUALA LUMPUR, Feb 12 — The additional revenue from sales and service tax (SST) expansion to 8.0 per cent from 6.0 per cent effective March 1, 2024 can benefit the rakyat in the form of cash aid, urban infrastructure and healthcare amid the ageing population in the...
Malaysia Technology Expo 2024 bridges ideas and innovations through awards, exhibitions and tech talks
KUALA LUMPUR, Feb 9 — The Malaysia Technology Expo (MTE) 2024 is inviting tech enthusiasts and industry experts to take part in an impressive showcase of technological wonders and pioneering breakthrough. MTE, that serves as a crucial hub for innovation, inspiration...
Johor’s one-stop investment centre to be ready this year, says MB
JOHOR BARU: The one-stop centre to facilitate investment in Johor is expected to be completed this year, says Datuk Onn Hafiz Ghazi. The Mentri Besar said the centre, among the initiatives in the Johor-Singapore special economic zone (JS-SEZ), will be the first of its...
Malaysia’s tax collection among the lowest in the region
KUALA LUMPUR: Malaysia is one of the lowest tax revenue collectors in Southeast Asia, with a tax-to-gross domestic product (GDP) ratio of 11.8 per cent.Malaysia University Science and Technology (MUST) economist Prof Emeritus Dr Barjoyai Bardai said Malaysia fell...
XLP member, Megalift Transport for East Coast rail link (ECRL) project in Malaysia
This month, the Megalift team and equipment are occupied with the handling of shipments for East Coast Rail Link (ECRL) project. They have 6 units of locomotives entering via Kuantan Port and 95 units of wagons that arrived in Port Klang, both via conventional...
Domestic trade minister: Govt plans to retarget diesel subsidies by June this year
Domestic trade minister: Govt plans to retarget diesel subsidies by June this year. Rererence: https://www.malaymail.com/news/malaysia/2024/02/01/domestic-trade-minister-govt-plans-to-retarget-diesel-subsidies-by-june-this-year/115771
Malaysia to participate in military exercise in Thailand
BANGKOK: Malaysia will join the 43rd Cobra Gold, the world's longest-running and largest multinational military exercise in South-east Asia, alongside troops from 30 nations in Thailand from February 27 to March 10.Co-hosted by the Royal Thai Armed Forces and the...
2024 will be another year of transition for M’sian economy -Economists
KUALA LUMPUR: Economic growth for 2023 will be below 4% as we forecast this time last year. This is positive but slower than in the past because of the transition to a new era of lower underlying growth due to the damage of Covid-19 policies. We see slower growth...
DTDC WIDENS ITS PRESENCE BY LAUNCHING OPERATIONS IN MALAYSIA, SETS SIGHTS ON SOUTHEAST ASIAN EXPANSION
DTDC in India covers approximately 96% of the population through 16,000+ physical customer access points and has a global reach of 220+ destinations. DTDC has expanded its presence in SEA with its new Malaysia office apart from its existing...
Singapore’s Just In Time Planning and Coordination Platform
The Maritime and Port Authority of Singapore is implementing a scheme titled “Just-in-Time” for vessels arriving at its terminals and berths in Singapore. Our correspondent Spica reports that the purpose of this scheme is three-fold. Firstly to match vessels with...
Groundbreaking ceremony of Kuala Linggi International Port
Scheduled for completion in 42 months, KLIP’s vision is to transform Kuala Sungai Linggi into a Green Global Industrial Hub for Energy Source, Port and Maritime Services. The development plan includes the construction of tank storage, shipyard, heavy...
Hike in drug prices expected soon
PETALING JAYA: Amid reports of pharmaceutical drug prices rising in the United States, the same may apply to Malaysia soon. Malaysian Pharmacists Society (MPS) president Prof Amrahi Buang said if drugmakers moved to raise prices in the United States, the prices of...
Will new rail link push more Singaporeans to opt for life in Johor Bahru as cost of living, rent in city state soars?
Despite a strong Singapore dollar and weak Malaysian ringgit, Singaporeans are not eyeing large properties in JB and are prioritising connectivity instead Changing work cultures and the flexibility of remote working post-pandemic are making it increasingly easier for...
Malaysia committed to transparent medicine pricing
ANN/THE STAR – The Malaysian government is dedicated to promoting transparency in medicine pricing. The commitment aims to empower consumers by providing them with the necessary information to make informed choices and compare prices. The ministry is actively...