krogragg

Category: Containers

  • Massive fire erupts as tanker and boxship crash off UK coast

    Massive fire erupts as tanker and boxship crash off UK coast A major rescue operation is underway in the North Sea after a product tanker and a containership crashed and caught fire off the coast of Hull in east Yorkshire, UK. A US-flagged MR tanker Stena Immaculate was struck by the Portugal-flagged containership Solong while…

  • Shipping in the crosshairs as trade uncertainty hits all-time high

    Shipping in the crosshairs as trade uncertainty hits all-time high At no point since tracking began on the subject have global trade policies been more uncertain than right now, according to one index developed in the US.  The Trade Policy Uncertainty (TPU) Index (see chart below) developed by four employees at the Federal Reserve Board…

  • CMA CGM’s Saadé vows to invest $20bn into the US over the next four years

    CMA CGM’s Saadé vows to invest $20bn into the US over the next four years CMA CGM’s Rodolphe Saadé was in the White House yesterday, unveiling a $20bn planned investment into the US.  The huge investment over the next four years would create 10,000 jobs, CMA CGM said, and include expanding container terminals, building an…

  • Andrew Craig-Bennett on globalisation

    Andrew Craig-Bennett on globalisation The editor (whom God preserve!) is of the opinion that CK Hutchison’s sale of their ports and terminals operation to a consortium of BlackRock and MSC marks the end of globalisation as an idea which rules our thinking on trade in general and trade by sea in particular, and that the…

  • Russia hits two ships at the port of Odesa

    Russia hits two ships at the port of Odesa Russia targeted a containership over the weekend it claimed to be carrying weapons to Ukraine. The attack on the Mediterranean Shipping Co (MSC) ship at the port of Odesa also hit a nearby Sierra Leone-flagged bulk carrier in collateral damage.  The 1,118 teu MSC Levante F…

  • CMA CGM signs for electric boxship

    CMA CGM signs for electric boxship French liner operator CMA CGM has contracted inland vessels specialist Shandong Xinneng Shipbuilding to build its fully electric containership. The deal with an undisclosed value follows a letter of intent CMA CGM signed with the yard late last year for the construction of an 80 m long, 182 teu…

  • ONE boxship collides with Maersk vessel in Hong Kong

    ONE boxship collides with Maersk vessel in Hong Kong On Saturday evening the 364 m long ONE Columba allided with the 6,600 teu Clifford Maersk in Hong Kong port with videos showing a number of containers falling off the Maersk ship. The accident happened as the ONE vessel was proceeding to berth, its bow ramming…

  • Costamare spinning off bulkers business

    Costamare spinning off bulkers business New York-listed Greek shipowner Costamare has moved to spin off its dry bulk operation into a separate publicly traded company. The new company Costamare Bulkers Holdings is expected to launch this year and to be listed on the New York Stock Exchange. The outfit will own nearly 40 vessels in…

  • Container sector set to take biggest hit from US plans to charge Chinese-built vessels

    Container sector set to take biggest hit from US plans to charge Chinese-built vessels Shipping is reeling from what could be the most seismic decision to effect the industry yet in the opening weeks of Donald Trump’s second term in office. The American president will make a decision, likely in around a month’s time, on…

  • US targets Chinese ships and terminal investments

    US targets Chinese ships and terminal investments The US is considering slapping huge fees on Chinese-built ships calling at its ports, while also clamping down on Chinese ownership of terminals on home soil. The United States Trade Representative (USTR) has finally outlined the ways it feels Washington DC can fight back against the dominance China…

  • MSC books up to eight megamaxes at Changhong International

    MSC books up to eight megamaxes at Changhong International Gianluigi Aponte’s Mediterranean Shipping Co (MSC) has returned to Zhoushan Changhong International Shipyard in China for a new series of LNG dual-fuel megamax containerships. The Swiss-based liner giant has signed up for four firm 21,700 teu newbuilds with options for up to four additional vessels. Deliveries…

  • Maersk seals pact with India’s top yard

    Maersk seals pact with India’s top yard AP Moller-Maersk has signed a memorandum of understanding with India’s Cochin Shipyard to explore ship repair and shipbuilding opportunities. The strategic partnership, which aligns with India’s aim to be among the top 10 maritime nations by 2030 and the top five by 2047, is expected to see the…

  • Container spot rates slide to 2023 lows

    Container spot rates slide to 2023 lows The container sector is heading into its normal post-Lunar New Year lull that typically lasts until April/May. The scale of the drops in spot rates is large, but the sector still remains one of the more profitable shipping sectors.  The weekly Drewry World Container Index slumped 5% to…

  • India readies home-grown container shipping giant

    India readies home-grown container shipping giant The Indian government has laid out plans to develop a brand new containerline. To be called Bharat Container Line, the new entity will have around 100 ships in its fleet, including ships on charter.  Details as to when the liner will launch have yet to be revealed with officials…

  • Euroseas agrees charter extension for feeder boxship

    Euroseas agrees charter extension for feeder boxship Nasdaq-listed Greek boxship owner Euroseas has inked a charter contract extension for one of its feeder containerships. Euroseas won a charter for the 1,740 teu EM Hydra for a minimum period of 24 to a maximum period of 26 months at the charterer’s discretion, at a gross daily…

  • Danaos reveals order for boxship brace

    Danaos reveals order for boxship brace Greek owner Danaos has bolstered its newbuilding orderbook, adding two more vessels to its 9,200 teu series in China. The John Coustas-led boxship tonnage provider and capsize bulker player has contracted CSSC-affiliated Huangpu Wenchong Shipbuilding in Guangzhou to deliver the newbuilds in 2027 at about $105m each. According to…

  • Steel and aluminium up next in Trump’s tariff campaign

    Steel and aluminium up next in Trump’s tariff campaign China’s retaliatory tariffs on some American goods came into effect on Monday, while Donald Trump, the American president, vowed yesterday to impose a 25% tariff on all steel and aluminium imports into the US, with a full announcement to come today. “Any steel coming into the…

  • Navigare Capital signs for containership newbuilds

    Navigare Capital signs for containership newbuilds Denmark’s Navigare Capital Partners has moved to add more containerships to its portfolio through a deal for up to six newbuildings in China. The Copenhagen-based alternative investment fund manager has signed up for four firm 4,300 teu vessels at Taizhou Sanfu Shipbuilding with options for two more, according to…

  • Federal Maritime Commission okays Premier Alliance agreement

    Federal Maritime Commission okays Premier Alliance agreement The Federal Maritime Commission (FMC) in the US has given its blessing to the formation of the Asian liner grouping, the Premier Alliance. Alliance partners HMM, Ocean Network Express (ONE), and Yang Ming were left stunned when in early November the FMC demanded more information about the new…

  • CMA CGM and AD Ports establish Congo terminal venture

    CMA CGM and AD Ports establish Congo terminal venture French liner giant CMA CGM has reached an agreement with AD Ports Group to jointly develop, manage and operate the new multipurpose terminal at the Port of Pointe Noire in the Republic of the Congo. The deal will see the formation of a joint venture majority-owned…

  • Houthis seen by Maersk as the dividing line between profit and loss this year

    Houthis seen by Maersk as the dividing line between profit and loss this year Last year has proven to be the third most profitable year in the history of container shipping, and likewise it proved to be the third best year in the 121-year history of Denmark’s largest shipping concern, Maersk. Top management in Copenhagen…

  • Euroseas fixes charter for boxship duo

    Euroseas fixes charter for boxship duo Nasdaq-listed Greek containership owner Euroseas has won new time charter deals for two of its boxships. The first contract is for the 2008-built Synergy Antwerp. The company stated that the contract will commence its charter after the completion of its present charter, expected sometime in May 2025. The second…

  • Beijing retaliates as Trump’s China tariffs kick in

    Beijing retaliates as Trump’s China tariffs kick in Donald Trump’s fast-moving tariff tiffs with key trading partners continue to keep shipping executives on edge around the world.  Similar to the threats he made to Colombia a week prior, the American president yesterday put planned tariffs against Mexico and Canada on hold for 30 days, saying…

  • Wallenius SOL buys Mann Lines

    Wallenius SOL buys Mann Lines Sweden’s Wallenius SOL has acquired British roro outfit Mann Lines adding new offices in Estonia, Latvia, and the UK, while increasing its presence in Finland, Germany, and Benelux.  “This strategic move will enable us to offer a broader range of solutions tailored to customer needs. By combining our strengths, we…

  • Shipping set to be reshaped by Trump tariffs

    Shipping set to be reshaped by Trump tariffs Global seaborne trade flows are set for choppy conditions in the wake of President Donald Trump’s decision on Saturday to levy  25% tariffs on imports from Canada and Mexico and 10% on goods from China starting tomorrow. For energy imports from Mexico and Canada, the tariff level has…

  • Bengal Tiger Line boss Bill Smart retires

    Bengal Tiger Line boss Bill Smart retires Singapore’s Bengal Tiger Line (BTL) has announced that industry veteran Bill Smart is retiring as the container feeder operator’s chief executive. Smart will step back at the end of March after 35 years with the company but continue on BTL’s board of directors. “On behalf of the board,…

  • Peter Döhle contracts up to five boxsips at GSI

    Peter Döhle contracts up to five boxsips at GSI Germany’s Peter Döhle Schiffahrts has added to its boxship orderbook with up to five 8,400 teu newbuilds in China. Shipbuilding sources say the Hamburg-based boxship and bulker owner and operator has contracted three firm and two optional vessels at CSSC Guangzhou Shipyard International (GSI), paying between…

  • Global liner alliances retrench

    Global liner alliances retrench Midnight tonight sees liner shipping go through its largest reshuffle in a decade as companies jump ship from existing alliances on the main east-west trades. THE Alliance will become the Premier Alliance, with Ocean Network Express (ONE), HMM and Yang Ming Marine Transportation as partners, and Mediterranean Shipping Co (MSC) helping…

  • Landlocked Switzerland becomes a top 10 shipowning nation thanks to Aponte’s MSC

    Landlocked Switzerland becomes a top 10 shipowning nation thanks to Aponte’s MSC One family has propelled a landlocked European nation into the top shipowning countries in the world. Gianluigi Aponte’s Geneva-based Mediterranean Shipping Co (MSC) has been on a historic fleet expansion in the 2020s, hoovering up more than 400 secondhand boxships, and ordering more…

  • Crew rescued from blaze on boxship in Red Sea

    Crew rescued from blaze on boxship in Red Sea The crew of the boxship that abandoned the ship which caught fire in the Red Sea has been rescued unharmed. The Hong Kong-flagged boxship ASL Bauhinia exploded and caught fire some 226 km northwest of Hodeidah, Yemen, in the early hours of the morning on Tuesday.…

  • Shipping’s ultimate Year of the Snake fortune guide published today

    Shipping’s ultimate Year of the Snake fortune guide published today The January issue of Splash Extra gives readers the ultimate guide to shipping prospects in the Year of the Snake.  The Lunar New Year is not starting too well with many sectors struggling to break even in January.  The cross-sector ClarkSea Index, a weighted barometer…

  • Fire forces crew to abandon boxship in Red Sea

    Fire forces crew to abandon boxship in Red Sea A Hong Kong-flagged boxship exploded and caught fire in the Red Sea, some 226 km northwest of Hodeidah, Yemen. In the early hours of the morning on Tuesday, the 1,930-teu, 2022-built ASL Bauhinia boxship caught fire in the southern Red Sea. The vessel is owned by…

  • SITC lifts Huanghai boxship series to eight

    SITC lifts Huanghai boxship series to eight Chinese boxship player SITC International Holdings has exercised options at Huanghai Shipbuilding for two additional 1,800 teu vessels. The Hong Kong-listed shipowner is paying nearly $58m to lift the series at the compatriot yard to eight, with deliveries for the latest pair scheduled by October and December of…

  • CMA CGM inks 2025’s largest ship orders to date

    CMA CGM inks 2025’s largest ship orders to date France’s CMA CGM is being widely tipped as the European owner mentioned in a release today by HD Hyundai Heavy Industries behind the biggest ship orders in the year to date. Splash understands CMA CGM has contracted the Korean shipyard to build twelve 18,000 teu LNG…

  • Asyad Shipping charts Oman IPO course

    Asyad Shipping charts Oman IPO course Oman’s state-controlled logistics giant Asyad Group has moved to sell shares in Asyad Shipping through an initial public offering. Crédit Agricole Corporate and Investment Bank and Société Générale have been appointed as joint bookrunners for the group, which plans to sell a stake of at least 20% in Asyad…

  • Shipping readies to navigate new Trump era

    Shipping readies to navigate new Trump era Today marks the end of the Joe Biden administration in the US, one of the most profitable four-year periods for shipping. With the return of Donald Trump to the White House, the shipping industry has many questions about what the future of global trade holds, some of which…

  • Houthis maintain Israeli ban while allowing all other ships to pass

    Houthis maintain Israeli ban while allowing all other ships to pass As the first phase of the ceasefire between Israel and Hamas came into effect yesterday, the Houthis of Yemen have provided an update on their Red Sea strategy. The Houthis said yesterday so long as the ceasefire remains in place, international merchant ships may…

  • John Su looks to grow liner business

    John Su looks to grow liner business John Su-led Erasmus Shipinvest Group has unveiled plans to grow subsidiary Erasmus Lines.  The company has just taken delivery of the Ocean Echo, its first tween/MPP newbuilding from Imabari in Japan, with plans for more MPPs and containerships.  “To face the fast-moving geopolitically-impacted trades model and the increasing…

  • Euroseas spinoff offloads vintage boxship 

    Euroseas spinoff offloads vintage boxship  Euroholdings, a recently announced three-ship spinoff and subsidiary of Nasdaq-listed Greek containership owner Euroseas, has already offloaded one of its vessels. Aristides Pittas-led Euroseas said the 1998-built 2,008 teu Diamantis P had been sold and delivered to an undisclosed buyer for $13.15m. The ship was handed over on a charter-free…

  • Houthi leader warns Israel to stick to ceasefire terms

    Houthi leader warns Israel to stick to ceasefire terms The leader of Yemen’s Houthis, Abdul Malik al-Houthi, has said his group will monitor the implementation of a ceasefire deal between Israel and Hamas and will continue its attacks on ships in the Red Sea if it is breached. The six-week phase one of the ceasefire…

  • AD Ports readies boxship investments in Caspian region

    AD Ports readies boxship investments in Caspian region AD Ports Group has moved to expand its operations in the Caspian Sea region with two containership newbuilds. Noatum, the maritime and shipping arm of the Abu Dhabi-based ports and logistics giant, has signed a deal with Kazmortransflot, a subsidiary of Kazakh national oil company KazMunayGas, to…

  • Elbdeich back for more Wenchong boxships

    Elbdeich back for more Wenchong boxships German owner Elbdeich Reederei has returned to China’s Wenchong yard for up to four more containership newbuilds. Copenhagen-based MB Shipbrokers reports Elbdeich is ordering a pair of 1,900 teu vessels at about $32.2m each, with options attached for two more. Unlike the 1,300 teu methanol dual-fuel boxships the company…

  • US east coast strike averted

    US east coast strike averted The International Longshoremen’s Association (ILA) and United States Maritime Alliance (USMX) have reached a tentative agreement on all items for a new six-year master contract averting a potentially damaging strike on the US east and Gulf coasts next week. The two sides agreed to continue to operate under the current…

  • COSCO seeks to defuse Pentagon spat

    COSCO seeks to defuse Pentagon spat COSCO, the world’s largest shipping company, has sought to downplay news carried by Splash yesterday that it has been added to a list of companies the US Department of Defense views as having links to the People’s Liberation Army. While being on the Pentagon’s blacklist carries no specific penalties,…

  • COSCO targeted by the Pentagon over alleged ties to the People’s Liberation Army

    COSCO targeted by the Pentagon over alleged ties to the People’s Liberation Army COSCO, the world’s largest shipping company, is among a host of Chinese shipping-related names added to a list of companies the US Department of Defense views as having links to the People’s Liberation Army. While being on the Pentagon’s blacklist carries no…

  • US east coast port talks set to resume

    US east coast port talks set to resume Talks are set to resume tomorrow between employers and dockworker unions across the US east and Gulf coasts in a last-ditch bid to avert a strike pencilled in for January 15.  Following a three-day strike last October, the International Longshoremen’s Association (ILA) reached an agreement with the…

  • Euroseas to spin off three older boxships into new US-listed vehicle

    Euroseas to spin off three older boxships into new US-listed vehicle Nasdaq-listed Greek containership owner Euroseas has revealed plans to spin off three of its oldest vessels into a separate publicly listed company. The Aristides Pittas-led tonnage provider with 27 ships on fully delivered basis will place the 1997-built Aegean Express, the 1998-built 2008 teu…

  • Boxship capsizes at Turkish port

    Boxship capsizes at Turkish port A Comoros-flagged containership, Amnah, tilted sideways and then capsized at the Ambarli port in Turkey. The incident took place on Monday at about 04.00 hrs local time due to imbalanced load distribution. The rescue team evacuated 10 of the 15 crewmembers, while the remaining five were forced to jump into…

  • Yang Ming eyes up to 13 newbuilds

    Yang Ming eyes up to 13 newbuilds Taiwanese shipping line Yang Ming Marine Transport has moved to add up to 13 containerships as it looks to renew its fleet. The world’s 10th and Taiwan’s second largest liner operator said it would order ships between 8,000 teu and 15,000 teu to replace its over-20-year-old 5,500 teu…

  • MSC boss Soren Toft takes the chair at World Shipping Council

    MSC boss Soren Toft takes the chair at World Shipping Council Mediterranean Shipping Company (MSC) chief executive Soren Toft has been elected as the new chairman of the liner lobby group, the World Shipping Council (WSC). Randy Chen, vice chairman of Taiwanese containerline Wan Hai, has been elected vice chair. Toft and Chen will serve…

  • Castor Maritime buys MPC Capital

    Castor Maritime buys MPC Capital Petros Panagiotidis-led Castor Maritime is buying a majority stake in MPC Münchmeyer Petersen Capital (MPC Capital), spending EUR182.8m ($192.6m) to take 74.09% of the shares in the Frankfurt-listed company. MPC Capital is an investment and asset manager specialising in infrastructure projects in the maritime and energy sectors. It is the…

  • Trump comes out in support of dockworkers in automation battle on US east coast

    Trump comes out in support of dockworkers in automation battle on US east coast President-elect Donald Trump has backed dockworkers in their automation battle with employers on the US east and Gulf coasts, citing his America first mantra. Unionised workers and employers have not been able to agree terms for a new labour deal, with…

  • Milaha charters Rickmers feeder duo

    Milaha charters Rickmers feeder duo Qatar Navigation (Milaha) has struck a deal with Clasen Rickmers-led Asian Spirit Steamship to take a pair of feeder containerships from the German owner on a long-term charter. The 2019-built 1,160 teu Spirit of Kolkata and Spirit of Chennai will be deployed on the Arabian Gulf and the Indian subcontinent…

  • ONE shows China an alternative way to power ships at port

    ONE shows China an alternative way to power ships at port Japanese containerline Ocean Network Express (ONE) has for the first time utilised shore power during lift-on and lift-off operations of an alternative marine power (AMP) container in a Chinese port. This was done ahead of a symposium which shared best practices and explored innovative…

  • Merchant shipping gives Syria a wide berth in the wake of Assad’s ousting

    Merchant shipping gives Syria a wide berth in the wake of Assad’s ousting Syria has become a no-go zone for international merchant shipping following the ousting of the Assad family from power.  Ships are giving the Middle Eastern nation a wide berth in the wake of the uprising that saw Bashar al-Assad fly to Russia…

  • How the Houthis fired liner earnings to extraordinary highs

    How the Houthis fired liner earnings to extraordinary highs No shipping sector has profited more this year from the ongoing Red Sea crisis than the container industry. The Houthis in Yemen have delivered the most profitable year in the history of liner shipping aside from the covid era earlier this decade.  Putting perspective on how…

  • Premier Alliance launch delayed as US demands more details

    Premier Alliance launch delayed as US demands more details The Premier Alliance, a new Asian liner grouping, had planned to start selling bookings later this week, something that will now likely have to be put on hold following intervention from the US. The Premier Alliance is made up of members of the soon-to-disappear THE Alliance,…

  • Global trade set to hit record $33trn this year

    Global trade set to hit record $33trn this year Global trade is on track to hit a record $33trn in 2024, according to the latest data from UNCTAD, the United Nations’ trade body. This 3.3% annual growth has been driven largely by a 7% rise in trade in services, contributing $500bn to the overall expansion.…

  • Castor takes a loss on boxship sale

    Castor takes a loss on boxship sale Cyprus-based shipowner Castor Maritime will sell one of its three containerships, taking a loss of about $3.3m. The Petros Panagiotidis-led company has struck a $16.5m deal with an unaffiliated third party for the 2005-built 2,700 teu Ariana A. The company picked up the German-built boxship, estimated by VesselsValue…

  • Houthis fire barrage at passing American convoy

    Houthis fire barrage at passing American convoy The Houthis roared back into action yesterday, firing a barrage of armaments against a passing American convoy in the Red Sea. As is common in the 13-month campaign waged by the Houthis, there are discrepancies in terms of the scale and efficacy of the latest attacks with the…

  • MSC completes Hamburg port investment

    MSC completes Hamburg port investment Mediterranean Shipping Co (MSC), the world’s largest container line, has completed its buy-in into the port of Hamburg, radically changing the container port landscape in northern Europe in the process.  MSC now controls 49.9% in Hamburger Hafen und Logistik Aktiengesellschaft (HHLA), with the city of Hamburg holding a 50.1% stake…

  • Hapag-Lloyd fixes methanol supplies out of China

    Hapag-Lloyd fixes methanol supplies out of China German liner Hapag-Lloyd has reached an agreement with Beijing-headquartered Goldwind for the delivery of 250,000 tonnes of green methanol per year. The green methanol will consist of a blend of bio- and e-methanol, ensuring greenhouse gas (GHG) emissions reduction of at least 70%, according to Hapag-Lloyd.  “As part…

  • ONE buys into Jakarta terminal

    ONE buys into Jakarta terminal Japanese liner Ocean Network Express (ONE) has bought a minority stake in New Priok Container Terminal One (NPCT1) in Jakarta, Indonesia for an unspecified price. Built in 2016, NPCT1 has an annual capacity of 1.5m teu and can accommodate the largest ships afloat today. Other shareholders in the terminal are shareholders…

  • Rivals scramble to keep pace with MSC

    Rivals scramble to keep pace with MSC The unmatched scale and growth ambitions of Mediterranean Shipping Co (MSC) is forcing competitors to scramble for tonnage.  Alpahliner is reporting that MSC has now surpassed 400 secondhand ship purchases since it embarked on a historical buying spree amid the covid pandemic in August 2020. Alphaliner tallies 402…

  • PSA and Evergreen form Singapore box terminal joint venture

    PSA and Evergreen form Singapore box terminal joint venture Singapore’s PSA International and Taiwanese liner Evergreen have established a new joint venture terminal in Singapore, set to start operations by the end of this year. The strategic partnership will offer long-term terminal capacity assurance to the world’s seventh-largest carrier’s fast-expanding global vessel fleet in PSA…

  • Shipping toasts best year for tonne-mile growth since 2010

    Shipping toasts best year for tonne-mile growth since 2010 The Red Sea shipping crisis – and to a smaller extent, the drought in Panama – have led to the strongest growth in tonne-miles registered this year since 2010, helping prop up rates to highly profitable levels for most shipping sectors. According to data from Clarksons…

  • Euroseas scores extensions for feeder boxship duo

    Euroseas scores extensions for feeder boxship duo Nasdaq-listed Greek boxship owner Euroseas has won new time charter contracts for two of its feeder containerships. The company said that the two extensions were awarded to the 2001-built, 2,556 teu feeder containerships EM Corfu and Evridiki G. The EM Corfu has been fixed for a minimum period of…

  • Boxship orders grow by over 50%, as deliveries set record highs

    Boxship orders grow by over 50%, as deliveries set record highs The post-pandemic boxship boom has become even more prevalent in 2024. The year could be a record-breaking one in terms of new vessels entering the market with orders massively rising when compared to the same period in 2023. According to a new report by…

  • Winners and losers from Trump’s return

    Winners and losers from Trump’s return ‘Drill, baby, drill’ and ‘liquid gold’ were two of the phrases president-elect Donald Trump repeated during his victory rally in Florida yesterday and a common consensus is building among shipping experts that the Republican’s return to the White House will be positive for tankers, but less so for container…

  • The shipping consequences of Mr Trump

    The shipping consequences of Mr Trump Splash’s lead columnist has been forced out of silence by the results in America. I have on my wrist a wristwatch made in the year of my birth -1952. It was made in two stages – the movement was made in Le Locle, in Switzerland, by the firm of…

  • PIL signs for more Hudong-Zhonghua boxships

    PIL signs for more Hudong-Zhonghua boxships Singapore’s Pacific International Lines (PIL) has returned to China’s Hudong-Zhonghua Shipbuilding for five LNG dual-fuel containerships. The company has contracted 9,000 teu vessels bringing its newbuilding campaign since 2022 to 18. In addition to being LNG-powered, the vessels will be able to switch to running on bio-methane, PIL said.…

  • Egypt reveals $6bn revenue hit as Houthis vow to up campaign against shipping

    The Houthis vowed Sunday to keep up their attacks on merchant shipping likely to the consternation of politicians further north along the Red Sea in Egypt.  Egypt’s foreign minister Badr Abdel Aati revealed in discussions with International Maritime Organization secretary-general Arsenio Dominguez on Friday that the Egyptian economy has taken a $6bn hit from the…