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Category: splash24x7

  • MSC ship aground off Jeddah, likely victim of GPS spoofing

    MSC ship aground off Jeddah, likely victim of GPS spoofing Three days on from grounding off Jeddah, Saudi Arabia, the 7,000 teu MSC Antonia remains stuck in the Red Sea, with vessel tracking showing the ship was likely the victim of GPS jamming.  Analysis from Windward, a maritime analytics firm, has highlighted the spoofing patterns…

  • JR Shipping poised for dry bulk return with newbuild brace

    JR Shipping poised for dry bulk return with newbuild brace Dutch owner JR Shipping has set out to return to the shortsea dry cargo sector with two diesel-electric newbuilds to be built at Chowgule Shipbuilding in India. The Harlingen-based group will be adding 8,500 dwt ships with delivery scheduled for the end of June 2027…

  • US and China agree to slash tariffs

    US and China agree to slash tariffs In a significant curtailment of the trade war between the world’s two largest economies, the United States and China have agreed to considerably slash tariffs for the next 90 days. As part of the deal reached in Geneva over the weekend, US Treasury Secretary Scott Bessent said both countries…

  • Olympic scores long-term CSOV contract with Aker BP

    Olympic scores long-term CSOV contract with Aker BP Norway’s Olympic has secured a five-year firm contract with Aker BP for the construction service operation vessel (CSOV) Olympic Notos. The deal with options for another five years will see the 2024 Ulstein-built unit serve as a dedicated walk-to-work vessel at the unmanned production platform Munin in…

  • Esvagt and KMC Line firm up Korean offshore wind venture

    Esvagt and KMC Line firm up Korean offshore wind venture Danish offshore wind vessel operator Esvagt has officially formed a joint venture with South Korean shipping company KMC Line. The jv named KESTO will target the growing South Korean offshore wind market, where current plans include as much as 18.3 GW offshore wind to be…

  • How tariffs have already reshaped minor bulk trade flows

    How tariffs have already reshaped minor bulk trade flows Tariffs, increasing stem sizes and changing trade patterns formed much of the debate at the Minor Bulks session at this year’s packed Geneva Dry summit.  Wlillem Vermaat, shipping director at Heidelberg Materials Trading, the second largest cement producer globally, noted that commodity trade flows tend to…

  • Backers of new US Virgin Islands registry present plans to Trump

    Backers of new US Virgin Islands registry present plans to Trump The backers of a new open registry have dusted off plans first aired three years ago, and presented the concept of a US Virgin Islands (USVI) flag to Donald Trump, amid the current government’s determination to bolster American maritime.  The flag idea has been…

  • Dry bulk’s long path towards decarbonisation

    Dry bulk’s long path towards decarbonisation Low-hanging fruit and the ramifications of what was agreed at last month’s Marine Environment Protection Committee (MEPC) gathering at the International Maritime Organization formed much of the discussion during the Dry Decarbonisation panel moderated by Lloyd’s Register’s Nikos Kakalis at last week’s Geneva Dry summit.  Massimo Giovannini, managing partner…

  • UK readies sanctions on another 100 Russian-linked tankers

    UK readies sanctions on another 100 Russian-linked tankers The UK is set to impose a new wave of sanctions against the Russian oil trade, targeting up to 100 more ships. The biggest sanctions package against Russia’s shadow fleet should bring the total number of oil tankers blacklisted by the UK to more than 230. Announcing…

  • Master of Chinese boxship accused of severing Baltic gas pipeline appears in HK court

    Master of Chinese boxship accused of severing Baltic gas pipeline appears in HK court The master of the Newnew Polar Bear, a Hong Kong-flagged boxship, has been taken into custody in Hong Kong for damaging a gas pipeline in the Baltic Sea 19 months ago. Wan Wenguo, 43, appeared at a court in Hong Kong…

  • Washington unveils another package of sanctions aimed at Iran’s oil shipments

    Washington unveils another package of sanctions aimed at Iran’s oil shipments The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated the teapot refinery Hebei Xinhai Chemical Group and three port terminal operators in Shandong Province for their role in purchasing or facilitating the delivery of hundreds of millions of dollars’ worth…

  • Capital Clean Energy Carriers lands long-term fixtures for LNG newbuilds

    Capital Clean Energy Carriers lands long-term fixtures for LNG newbuilds Evangelos Marinakis-backed Capital Clean Energy Carriers (CCEC) has secured long-term employment for two of its LNG carriers under construction in South Korea. The Nasdaq-listed company has fixed the 174,000 cu m at vessels to be named Athlos and Archon for five and seven years, respectively,…

  • Torm sells off ageing LR2

    Torm sells off ageing LR2 Danish product tanker owner and operator Torm has continued the disposal of older tonnage with the sale of one of its two oldest LR2 vessels. The New York and Copenhagen Nasdaq-listed company has revealed the sale of an unnamed 2008-built LR2 unit with delivery to new owners expected during the…

  • Costamare ships out 15-year-old handy

    Costamare ships out 15-year-old handy New York-listed Greek owner Costamare has continued the trend of offloading smaller bulkers with another handysize set to exit the fleet. The Konstantinos Konstantakopoulos-led company is shipping out the 2010-built 31,775 dwt Resource, with delivery to an undisclosed new owner expected during the second quarter. Costamare bought the ship in…

  • Fugro gets more survey work on UK offshore wind farm

    Fugro gets more survey work on UK offshore wind farm Dutch surveyor Fugro has been awarded a contract to perform comprehensive geotechnical surveys for the eastern array of the Dogger Bank South (DBS) offshore wind farms. The initiative is led by RWE and Masdar to develop one of the UK’s most powerful offshore wind energy…

  • ARO Drilling agrees extensions for five jackups with Saudi Aramco

    ARO Drilling agrees extensions for five jackups with Saudi Aramco ARO Drilling, a joint venture of New York-listed offshore driller Valaris, has signed extensions for five jackup rigs with Saudi giant Aramco. The extensions, all for five years, were signed for the Valaris 250, Valaris 116, Valaris 146, Valaris 140, and Valaris 141 or as…

  • Pyxis Tankers lines up funds for fleet growth

    Pyxis Tankers lines up funds for fleet growth Greek owner Pyxis Tankers has set out to potentially expand its fleet by up to two ships with the signing of a commitment letter for a bank loan of up to $45m. The Nasdaq-listed firm said it is eyeing modern product tankers between 45,000 dwt and 115,000…

  • Nissen Kaiun in for HD Hyundai Mipo LPG brace

    Nissen Kaiun in for HD Hyundai Mipo LPG brace Low-profile shipowner Nissen Kaiun has returned to HD Hyundai Mipo Dockyard in Ulsan for a pair of LPR carriers. Multiple newbuilding sources have listed the Japanese shipping mammoth with two 45,000 cu m units booked at $73.5m each for delivery in 2027. The owner of more…

  • Jiangsu Ocean Shipping orders boxship quartet

    Jiangsu Ocean Shipping orders boxship quartet China’s Jiangsu Ocean Shipping (JOSCO) is expanding its containership fleet with four newbuilds contracted at compatriot yard Jiangsu Soho Chuangke Shipbuilding. The shipping arm of Jiangsu Port Group has booked a series of 3,000 teu vessels set to become the largest in its fleet. Jiangsu Ocean lists a fleet…

  • Wallenius Wilhelmsen bags transport deal worth $140m

    Wallenius Wilhelmsen bags transport deal worth $140m Norwegian car carrier player Wallenius Wilhelmsen has won a three-year shipping contract with an unnamed construction and mining equipment manufacturer. The contract is estimated to have a value of approximately $140m based on expected volumes over the three-year period. The company stated that the renewed agreement between the…

  • Ocean Yield increases stake in French LNG player

    Ocean Yield increases stake in French LNG player Norwegian owner and sale and leaseback player Ocean Yield has increased its stake in France’s Geogas LNG. In July 2024, Ocean Yield took over interests from infrastructure fund CVC DIF, which held a 31% stake in Geogas LNG. This provided the company with an indirect economic interest…

  • Valaris bags $135m drillship deal in Africa

    Valaris bags $135m drillship deal in Africa New York-listed offshore driller Valaris has been awarded a five-well contract offshore West Africa for one of its drillships. The contract, awarded to the 2014-built Valaris DS-15 drillship by an undisclosed client, is expected to begin in the third quarter of 2026. Based on an estimated duration of…

  • Nokia to provide private wireless to Maersk ships

    Nokia to provide private wireless to Maersk ships Danish liner giant Maersk has contracted Nokia to equip 450 vessels in its fleet with private wireless. The move is part of Maersk’s rollout of its new digital connectivity platform, OneWireless, which aims to offer real-time cargo tracking, enhanced supply chain visibility, and improved operational efficiency. “By…

  • DOF vessel duo get work off Brazil

    DOF vessel duo get work off Brazil Norwegian offshore vessel owner DOF has been awarded contracts in Brazil for two of its vessels. The 2007-built diving support vessel Skandi Achiever was awarded an offshore service and survey contract in Brazil in support of a SURF project with operations planned to start in early May and…

  • Boxships back up across Northern Europe

    Boxships back up across Northern Europe Ports across Northern Europe are dealing with what broker Braemar describes as “serious congestion” right now.  In Antwerp, Braemar reported yesterday the yard is already at 96% capacity, and reefer plugs are overloaded at 112%. Nearly half the arriving ships are waiting for a berth, and there are 52…

  • How rising demand for electric vehicles is changing the face of dry bulk

    How rising demand for electric vehicles is changing the face of dry bulk All week, Splash will be bringing readers reports from Geneva Dry, the world’s premier commodities shipping conference, which took place on April 28 and 29 with more than 820 delegates in attendance. Today’s panel in focus features a brand new slot: EVs…

  • Premuda seals management buyout

    Premuda seals management buyout Italian tanker and bulker owner and operator Premuda has concluded a management buyout led by its top executives. The deal spearheaded by chief executive Marco Fiori and chief of finance Enrico Barbieri has seen the acquisition of 100% of the share capital in the Genoa-based company for an undisclosed sum. The…

  • Navigator fixes $300m of new financing

    Navigator fixes $300m of new financing New York-listed Navigator Holdings has lined up $300m in fresh financing to clear out existing debt maturities. The Mads Peter Zacho-led company said its subsidiaries Navigator Gas and Othello Shipping have struck a deal with a consortium of lenders comprising Nordea Bank, Danish Ship Finance, Danske Bank, DNB UK,…

  • Allseas taps Wuchang Shipbuilding for offshore vessel duo

    Allseas taps Wuchang Shipbuilding for offshore vessel duo Swiss-based marine construction specialist Allseas has ordered two offshore construction vessels from Wuchang Shipbuilding Industry Group in China. The vessels are based on the SALT 308 OCV design, they feature advanced equipment and systems to deliver enhanced performance, flexibility, and functionality. Each vessel will measure 100 metres…

  • Dong Fang Offshore orders third CSOV from Vard

    Dong Fang Offshore orders third CSOV from Vard Taiwanese owner and operator Dong Fang Offshore (DFO) has ordered another commissioning service operation vessel (CSOV) from Fincantieri-controlled Norwegian shipbuilder Vard. The vessel will be a sister ship to the two CSOVs contracted in May 2024, and follows the order of a subsea construction vessel from the…

  • AD Ports strikes deal to set up logistics zone in Egypt

    AD Ports strikes deal to set up logistics zone in Egypt Abu Dhabi-based ports and logistics giant AD Ports Group has signed a 50-year concession deal with Egypt’s Suez Canal Economic Zone to set up a 20 sq km logistics and industrial zone east of Port Said on the Mediterranean Sea. Under the agreement, AD…

  • Danish government looks to establish $1bn war risk programme

    Danish government looks to establish $1bn war risk programme The Danish government has announced plans to create a state-backed $1bn war risk programme for ships to be used in the event commercial insurance markets fail.  The government said the insurance plan, due to be voted on in parliament later this year, was a “timely precaution”. …

  • CMA CGM signs Syrian port deal

    CMA CGM signs Syrian port deal CMA CGM has signed a 30-year deal with the Syrian government to develop Latakia port, including building a new berth and investing $260m to bolster Syria’s top port. CMA CGM has been operating at Latakia since 2009.  The new deepwater berth will be 1.5 km long with depths alongside…

  • The inconvenient truth about shipping’s decarbonisation

    The inconvenient truth about shipping’s decarbonisation Pierre Aury reflects on MEPC 83 and mankind’s failure to rein in CO2 emissions. The International Maritime Organization (IMO) just held the 83rd session of its Marine Environment Protection Committee (MEPC). Before we deal with the situation of the shipping industry, emissions-wise, it is useful to revisit the recent…

  • Quebec grain terminal changes hands

    Quebec grain terminal changes hands Parrish & Heimbecker, a Canadian, a family-owned agri-business, has acquired a deepwater bulk marine export terminal in Quebec City from Societe En Commandite Terminal Grains, which has been operated by Sollio Agriculture since 2021. “The addition of a Quebec City terminal is a strong fit for our long-term growth strategy,”…

  • Singapore appoints new chief executive of Maritime and Port Authority

    Singapore appoints new chief executive of Maritime and Port Authority The Maritime and Port Authority of Singapore (MPA) is getting a new chief executive in June. Ang Wee Keong, the assistant chief executive (international) of the Infocomm Media Development Authority (IMDA), has been named chief executive-designate from May 1 to June 15. He will relinquish…

  • d’Amico scores long-term tanker fixtures

    d’Amico scores long-term tanker fixtures Italian product tanker owner and operator d’Amico International Shipping (DIS) has revealed new long-term employment at “very profitable” rates for multiple vessels. The Milan-listed company’s Irish-based d’Amico Tankers has fixed two MR2 tankers and one LR1 for one year each through new deals “with reputable counterparties”. Additionally, one MR2 has…

  • Mediterranean ECA starts

    Mediterranean ECA starts Today sees the Mediterranean Sea officially become an emission control area (ECA) for sulphur oxides (SOx). All vessels operating in the region must now comply with stricter environmental standards whereby they either use maximum 0.10% sulphur content in fuel, or use approved exhaust gas cleaning systems also known as scrubbers. In contrast…

  • Euroseas spinoff exploring strategic options including sale

    Euroseas spinoff exploring strategic options including sale Euroholdings, a Nasdaq-listed spinoff and subsidiary of Greek containership owner Euroseas, has initiated a search for strategic options for its business. The company, incorporated in March this year, said that its board, led by chairman Aristides Pittas, has launched a “comprehensive review of strategic alternatives to maximize shareholder…

  • A call to action for maritime employers

    A call to action for maritime employers Mark Charman, CEO and founder of Faststream Recruitment, provides readers with insights from his company’s latest Global Ship Operators Employment Report. The maritime sector is undergoing a profound shift and ship operators are right at the centre of it. In the Global Ship Operators Employment Report 2025, Faststream…

  • US issues further sanctions against Iran

    US issues further sanctions against Iran Yesterday, the US imposed sanctions on seven entities engaged in Iranian petroleum products and petrochemical products trade as well as identifying two vessels as blocked property.  The tankers Eloise and Olia managed by Vroom Marine Venture were the ones picked up for the latest sanctions as the US continues…

  • PD Ports planning development of $260m UK offshore wind hub

    PD Ports planning development of $260m UK offshore wind hub PD Ports has revealed plans to build one of the UK’s largest offshore wind manufacturing and installation hubs – the Teesport Offshore Gateway – an investment worth around £200m ($267m). The project will unlock just shy of 730,000 sq m of development potential for a…

  • OOCL signs $3bn boxship order

    OOCL signs $3bn boxship order Hong Kong’s Orient Overseas Container Line (OOCL) is strengthening its fleet with 14 boxship newbuildings in China worth more than $3bn. The COSCO-controlled liner operator has contracted Dalian COSCO KHI Ship Engineering (DACKS) and Nantong COSCO KHI Ship Engineering (NACKS) to build 18,500 teu methanol dual-fuel series at $220m each.…

  • CMB.TECH sells three VLCCs

    CMB.TECH sells three VLCCs CMB.TECH has revealed it has sold three more VLCCs as part of an ongoing fleet rejuvenation programme. The sales of the 2010-built Hakata and Hakone as well as the 2012-built Iris to unidentified buyers have generated a total capital gain of $96.7m. CMB.TECH and dry bulk concern Golden Ocean aim to…

  • Seaspan books six containership newbuilds in China

    Seaspan books six containership newbuilds in China Seaspan has put pen to paper on more containership newbuilds at Shanghai Waigaoqiao Shipbuilding (SWS) in China. The Bing Chen-led tonnage provider has booked six 10,000 teu vessels with delivery likely starting in 2028. No value has been revealed for the shipbuilding contract that was concluded in renminbi…

  • Norden presses on with bulker flipping

    Norden presses on with bulker flipping Danish shipping giant Norden has bagged another bulker sale after taking a purchase option on chartered-in tonnage. The Jan Rindbo-led owner and operator said it had offloaded an unnamed, previously leased handysize for an undisclosed sum in a deal that follows two similar, recently carried out asset plays. Earlier…

  • Dutch government scales back offshore wind to preserve fisheries

    Dutch government scales back offshore wind to preserve fisheries The Dutch government has reduced its offshore wind targets and removed one of the zones set for offshore wind development to give more room to the fishing sector. The authorities decided to amend their North Sea Programme and, with it, reduce the offshore wind energy target…

  • LS Marine Solution gets cabling deal on Taiwanese offshore wind farm

    LS Marine Solution gets cabling deal on Taiwanese offshore wind farm South Korea’s LS Marine Solution has won a $15.8m contract for the installation of subsea cables at a wind farm off Taiwan. The contract is LS Marine Solution’s first overseas order and the first time a South Korean company has entered the international subsea…

  • Saipem wins $590m deal for work on Eni’s UK CCS project

    Saipem wins $590m deal for work on Eni’s UK CCS project Italian offshore engineering and construction giant Saipem has won a contract from Eni for work on the Liverpool Bay CCS project in the UK. The value of the contract is estimated approximately €520m ($592m) over the three years required to complete the project. The…

  • CMA CGM becomes first global liner to run an Indian-flagged vessel

    CMA CGM becomes first global liner to run an Indian-flagged vessel CMA CGM has welcomed the arrival of the first Indian flagged containership registered by a major foreign carrier With a total capacity of 2,592 teu, CMA CGM Vitoria serves India on the group’s BIGEX network, which offers direct links between India, the Gulf, and…

  • US sanctions three tankers over ties to the Houthis

    US sanctions three tankers over ties to the Houthis The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has targeted three vessels and their owners for allegedly providing support to the Houthis.  Marshall Islands-registered Zaas Shipping & Trading facilitated the delivery of LPG to the Houthi-controlled port of Ras Isa using the…

  • Cairn hires EMGS for 3D survey off India

    Cairn hires EMGS for 3D survey off India Norwegian seismic service provider Electromagnetic Geoservices (EMGS) has been hired by India’s Cairn Oil & Gas to conduct a 3D controlled source electromagnetic survey for its exploration campaign in the deepwater Krishna-Godavari block on India’s east coast. Cairn will be one of the first companies in India…

  • Second edition of Geneva Dry opens today

    Second edition of Geneva Dry opens today The second edition of Geneva Dry, the world’s premier commodities shipping conference, opens today with a record attendance and delegates keen to hear what’s in store for the global trade outlook in the coming 12 months following a turbulent start to 2025. With 819 registered delegates, organisers had…

  • Trump calls for free passage of American ships through Suez and Panama canals

    Trump calls for free passage of American ships through Suez and Panama canals US president Donald Trump has called for free passage of American ships through two of the vital shipping waterways, the Panama and Suez canals. Trump said in a social media post on Saturday that American ships, both military and commercial, should be…

  • SteelShips back for more K Shipbuilding product tankers

    SteelShips back for more K Shipbuilding product tankers Piraeus and New York-based owner SteelShips has signed up for a fresh pair of medium-range product tanker newbuilds in South Korea. Shipbuilding sources report the Nicholas Notias-led outfit has returned to its go-to yard, K Shipbuilding, for two more 50,000 dwt units with delivery expected in 2027.…

  • RCL boosts boxship orderbook

    RCL boosts boxship orderbook Thailand’s Regional Carrier Lines (RCL) is bolstering its fleet with four additional containership newbuildings in China. The company revealed in a stock exchange filing that it will be adding a pair of 11,000 teu and 4,400 teu each in 2027 and 2028. The 11,000 teu series are costing up to $125m…

  • Kpler wraps up Spire Maritime acquisition

    Kpler wraps up Spire Maritime acquisition Brussels-based maritime data analytics firm Kpler has closed the acquisition of Spire Global’s ship tracking business, Spire Maritime. The deal, worth about $241m, gives Kpler control over Spire’s satellites and maritime Automatic Identification System (AIS) data stream. “This milestone marks a significant step forward in Kpler’s mission to deliver…

  • Iran port blast kills at least 18 and injures hundreds

    Iran port blast kills at least 18 and injures hundreds A massive explosion killed at least 18 people and left around 800 others injured near Iran’s biggest port, Bandar Abbas. The blast, which took place at Shahid Rajaee terminal on Saturday morning, damaged multiple buildings in the area and caused additional fires. Aerial footage showed…

  • All ships passing through European waters must now provide proof of insurance

    All ships passing through European waters must now provide proof of insurance The European Commission has adopted another key measure to crackdown on the so-called shadow fleet passing through its waters. The amendment to the Vessel Monitoring Directive now requires all vessels, including those merely passing through European Union waters without entering an EU port,…

  • World’s largest car carrier sets sail from China

    World’s largest car carrier sets sail from China The world’s largest car carrier has left a yard in China on its maiden voyage to Brazil.  The 9,200 ceu BYD Shenzhen pips Höegh Autoliners’ Aurora class series by 100 cars in terms of capacity, and becomes the fourth vessel in Chinese auto manufacturer BYD’s growing fleet…

  • Close to one in five VLCCs trading today are over 20 years old

    Close to one in five VLCCs trading today are over 20 years old Today, there are around 130 VLCCs over 20 years old still trading, compared to fewer than 20 five years ago, according to data from Tankers International, which notes that around two-thirds of these vintage supertankers are engaged in moving sanctioned oil. Over…

  • Taylor Maritime offloads 11 ships

    Taylor Maritime offloads 11 ships London-listed dry bulk outfit Taylor Maritime has aligned its business with anticipated trade turbulence and taken advantage of improved market sentiment to sell 11 ships for $172.5m. The Ed Buttery-led company said that one bulker had already been delivered to its new owner, with the remaining 10 exiting the fleet…

  • Pakistan ceases all trade with India

    Pakistan ceases all trade with India Pakistan has suspended all trade with India and closed its airspace and land border. The measures follow the imposition of sanctions imposed by India after an attack in Indian-administered Kashmir that killed 26 people on Tuesday. The last six months saw 520 port calls of vessels between Pakistan and…

  • Yinson Production secures $100m financing deal

    Yinson Production secures $100m financing deal Singapore-based floater owner and operator Yinson Production has successfully structured and arranged a standby letter of credit and guarantee facility of $100m. The company added that the three-year facility, with options for extensions, expands Yinson Production’s “strategic financing toolkit to support the continuous growth” of the company. According to…

  • ZIM ordered to pay Samsung $3.7m for US demurrage violations

    ZIM ordered to pay Samsung $3.7m for US demurrage violations Israeli carrier ZIM has been ordered to pay about $3.7m to Samsung Electronics America (SEA) for violating the US Shipping Act. The American affiliate of the Korean manufacturing giant filed a complaint with the Federal Maritime Commission (FMC) in October 2022, claiming Zim engaged in…

  • S&P Global buys Orbcomm’s ship tracking business

    S&P Global buys Orbcomm’s ship tracking business S&P Global has agreed to acquire the automatic identification system (AIS) business of Orbcomm. The New York-headquartered company said the purchase, on undisclosed terms, will see one of the leading providers of ship tracking services integrated within its Global Market Intelligence division. Orbcomm’s AIS vessel tracking technology has…

  • World’s second-largest owner opens Washington office

    World’s second-largest owner opens Washington office In a sign of the times, Japan’s Mitsui OSK Lines (MOL), the world’s second-largest shipowner, will open a new office in Washington, DC. “As global challenges continue to evolve-ranging from geopolitical uncertainties and stricter environmental regulations to increasingly intricate supply chains-strengthening cooperation with governments and international organizations has become…

  • Wiernicki to step down at ABS

    Wiernicki to step down at ABS One of the best-known names in the business of ship classification is to stand down at the end of the year.  ABS chairman and CEO Christopher Wiernicki after leading the American classification society for the past 12 years, having taken over from Robert Somerville in 2013.  Prior to joining…

  • Vantage Drilling bags $80m drillship deal

    Vantage Drilling bags $80m drillship deal Offshore drilling contractor Vantage Drilling has received a conditional letter of award from an undisclosed client for the 2010-built drillship Platinum Explorer. The company stated that the conditional letter of award has a 90-day validity period. The contract value is around $80m with an anticipated 260 days required to…

  • CMB.TECH and Golden Ocean merging to create fleet of more than 250 ships

    CMB.TECH and Golden Ocean merging to create fleet of more than 250 ships Belgium’s CMB.TECH and one of Europe’s largest dry bulk owners, Golden Ocean, have signed a term sheet for a stock-for-stock merger that will create a maritime giant with a combined fleet of more than 250 vessels. Under the agreement, unanimously approved by…

  • Geoquip secures German North Sea wind farm contract

    Geoquip secures German North Sea wind farm contract Swiss-based offshore geotechnical data acquisition specialist Geoquip Marine has been awarded a survey contract by clean energy asset manager Luxcara for the Waterekke offshore wind farm in the German North Sea. The Njord Partners’ portfolio company, led by former PGS boss Rune Pedersen, said the work scope…

  • Two crewmen injured as OSV hits wind turbine in Dutch North Sea

    Two crewmen injured as OSV hits wind turbine in Dutch North Sea The Royal Dutch Sea Rescue Society (KNRM) has stated that it evacuated two injured crewmen from an OSV that hit the base of an offshore wind turbine in the North Sea. The 1990-built Glomar Venture, owned by the Dutch offshore support vessel player…

  • Philly Shipyard steps forward to meet US LNG carrier requirements

    Philly Shipyard steps forward to meet US LNG carrier requirements The Korean-controlled Philly Shipyard is gearing up to build the first LNG carriers in America since the 1970s. Following last week’s announcement by the US Trade Representative (USTR) on port fees designed to boost American shipbuilding, Hanhwa Ocean, which bought Philly Shipyard last year, has…

  • FMC classifies Chipolbrok as a controlled carrier

    FMC classifies Chipolbrok as a controlled carrier The Federal Maritime Commission (FMC) in the US has classified the Chinese-Polish Joint Stock Shipping Company (Chipolbrok) as a controlled carrier of the People’s Republic of China (PRC) and is adding it to the commission’s controlled carrier list. The company, with 31 MPPs in its fleet, is jointly…

  • Seacon orders ultramax bulker at Tsuneishi Zhoushan

    Seacon orders ultramax bulker at Tsuneishi Zhoushan Hong Kong-listed Secon Shipping is growing its dry bulk fleet with an ultramax newbuilding at Tsuneishi Zhoushan Shipbuilding. The Qingdao-based owner and operator is paying $38.34m to see the Tsuneishi-controlled Chinese yard, in which Yangzijiang Shipbuilding also holds a 34% stake, deliver the 63,300 dwt vessel in April…

  • Scale of blank sailings dwarfs covid era as US-China trade dries up

    Scale of blank sailings dwarfs covid era as US-China trade dries up With trade between the world’s two largest economies effectively coming to a halt thanks to US president Donald Trump’s tariff war with China, containerlines are blanking sailings on a greater scale than was witnessed at the onset of the covid pandemic five years…

  • Beijing vents fury at US port fees

    Beijing vents fury at US port fees Shipping spent the weekend digesting the news from the US where watered down plans to charge China-linked ships extra for American port calls have created considerable outrage in Beijing and Hong Kong, while causing consternation for members of the Ocean Alliance, one of the big groupings in container…

  • Russian line founded with focus on West Africa

    Russian line founded with focus on West Africa The former chairman of FESCO has formed a shipping line to provide links between West Africa and Russia. Andrei Severilov, who founded JSC A7 Holding last year, has just debuted A7 African Cargo Lines with a first link set to be established between Novorossiysk and Nigeria’s port…

  • Tar balls wash up on Canadian shoreline near grounded MSC boxship

    Tar balls wash up on Canadian shoreline near grounded MSC boxship Tar balls have emerged on beaches near to where the MSC Baltic III remains grounded on Canada’s eastern seaboard, with the boxship remaining firmly lodged in place more than two months after it ran into difficulties.  The Canadian Coast Guard has said there is…

  • ScottishPower Renewables hires vessel trio for work on UK offshore wind farm

    ScottishPower Renewables hires vessel trio for work on UK offshore wind farm ScottishPower Renewables, part of Spain’s Iberdrola, has signed charter agreements with NR Marine Services and OEG to provide vessels to support the construction of the East Anglia Three offshore wind farm. The charter deals are worth over £16m ($21.2m) and all vessels will…

  • US unveils much-anticipated port call fees

    US unveils much-anticipated port call fees The United States will impose fees on Chinese-built ships calling at American ports—regardless of ownership, in a ruling that the global shipping community has been waiting to hear about for months. The glimmer of good news for non-Chinese owners is that the final measure is less severe than the…

  • Saipem and Lamprell extend offshore cooperation with Saudi Aramco

    Saipem and Lamprell extend offshore cooperation with Saudi Aramco The Saudi giant has renewed long-term agreements with the Italian offshore engineering and construction giant Saipem and UAE-based fabricator Lamprell. Saipem’s agreement with the Saudi firm is now set to run until the end of 2027. With this renewal, the company is confirmed in the exclusive…

  • Change at the top at Britannia

    Change at the top at Britannia The Britannia Group, the world’s oldest P&I insurer, has revealed its long-term CEO, Andrew Cutler, will leave the company at the end of the year to pursue a portfolio of non-executive roles.. Cutler joined the Britannia Group in 2006 as a senior claim handler, having previously been a partner…

  • Trump’s tariffs crash world trade forecasts

    Trump’s tariffs crash world trade forecasts Many of shipping’s go-to bodies for trade forecasts are now slashing economic predictions for the year ahead in the wake of Donald Trump’s tariff war.  Creating significant alarm, the World Trade Organization (WTO) has warned global merchandise trade for 2025 could drop by as much as -1.5%, potentially becoming…

  • Trump administration chases substandard flags in bid to thwart Iran’s shadow fleet

    Trump administration chases substandard flags in bid to thwart Iran’s shadow fleet The latest American sanctions aimed at Iran’s oil industry make specific warnings to shipping about the use of substandard shipping. The Department of the Treasury’s Office of Foreign Assets Control (OFAC) yesterday designated a China-based independent teapot refinery, Shandong Shengxing Chemical, for its…

  • 54 ships abandoned so far this year

    54 ships abandoned so far this year The scourge of crew abandonment is proving very hard for global administrators to rein in. A total of 54 ships and their crews have been abandoned so far this year, according to data carried by the International Labour Organization (ILO), putting 2025 potentially on track to be the…

  • Seafarers to get 6.2% pay rise over the coming three years

    Seafarers to get 6.2% pay rise over the coming three years The International Labour Organization (ILO) has concluded the latest round of minimum wage negotiations for able seafarers at a meeting of the Subcommittee on Wages of Seafarers of the Joint Maritime Commission (JMC), held in Geneva on this week. The terms of the wage…

  • Geneva Dry Dialogues: HarborLab

    Geneva Dry Dialogues: HarborLab Antonis Malaxianakis, founder and CEO of HarborLab, a port cost management platform, is willing to do what few others in maritime tech dare – going public on return on investment (ROI) numbers, something he’ll also happily share with delegates attending Geneva Dry, due to open on April 28. HarborLab is an…

  • V.Group takes on management of International Seaways LR1 newbuilds

    V.Group takes on management of International Seaways LR1 newbuilds UK-based shipmanagement and marine services giant V.Group has secured a deal for six LR1 tanker newbuildings that US owner International Seaways expects for delivery from South Korea’s K Shipbuilding. The René Kofod-Olsen-led company will be responsible for full technical and crew management of the scrubber-fitted, LNG-ready…

  • Blystad PSV scores Shell fixture

    Blystad PSV scores Shell fixture Norwegian shipping investor Blystad Group has seen its platform supply vessel secure employment for up to six months in UK waters. The 2010-built Songa Commander, commercially and technically managed by Remøy Shipping, has been fixed to Shell for three months firm at an undisclosed dayrate. Offshore brokers report the contract,…

  • Vertom seals 15-year deal for newbuild quartet

    Vertom seals 15-year deal for newbuild quartet Dutch shipping group Vertom and Norway’s Strand Shipping have landed a 15-year charter deal with aquaculture feeds producer Skretting for four diesel-electric newbuilds. The vessels that will be deployed for the import of raw materials have been designed to reduce the environmental footprint of Skretting’s supply chain. The…

  • Japanese and Korean yards with investments in China on edge

    Japanese and Korean yards with investments in China on edge With Donald Trump widely tipped to pass judgement on extra fees for Chinese-linked tonnage calling at US ports in the next couple of days, another wrinkle has emerged that has not been widely discussed in Washington to date.  Trump’s tariff war against China late last…

  • Pronounced spike in low-level crimes in the Singapore Strait

    Pronounced spike in low-level crimes in the Singapore Strait The ICC International Maritime Bureau (IMB) has revealed a rise in global piracy and armed robbery incidents in the first quarter of 2025 – driven by a spike of incidents in the Singapore Strait. A total of 45 cases of piracy and armed robbery against ships…

  • DHT confirms disposal of Chinese-built tonnage

    DHT confirms disposal of Chinese-built tonnage DHT Holdings, a New York-listed tanker giant, has confirmed the sale of two Chinese-built VLCCs. DHT said in a statement that it sold the 2011-built DHT Lotus and the DHT Peony for a combined price of $103m. Splash has previously cited broking sources that claimed that the company sold…

  • Diana Shipping fixes out panamax to China Resource Chartering

    Diana Shipping fixes out panamax to China Resource Chartering Greek bulker owner Diana Shipping has entered into a time charter contract with China Resource Chartering for one of its panamax vessels. The company hired the 2013-built, 77,901 dwt bulker Ismene. The gross charter rate is $11,000 per day, minus a 5% commission paid to third…

  • The carriers most exposed by Trump’s trade war with China

    The carriers most exposed by Trump’s trade war with China The chart below created by Linerlytica highlights the containerlines most exposed on the transpacific by the ongoing trade war initiated by Donald Trump, the American president, against China, that has effectively brought most business between the two largest economies in the world to a halt.…

  • Singapore’s Vasi becomes first liner casualty of 2025

    Singapore’s Vasi becomes first liner casualty of 2025 Vasi Shipping, a small Singaporean containership operator, has filed for bankruptcy. The company, founded 13 years ago, has $19m of debt owed to creditors. Previously, it operated on intra-Asia routes on three owned ships, all of which it has sold recently to try and pay back debts.…

  • The steep learning curve America faces if it wants to return to previous shipyard glory days

    The steep learning curve America faces if it wants to return to previous shipyard glory days The stats surrounding the steep learning curve the US faces if it wants to claw back any market share in shipbuilding are astonishing. Donald Trump, the American president, is taking steps to try and build back the country’s shipyards,…

  • NYK reveals new dry bulk player via triple merger

    NYK reveals new dry bulk player via triple merger Japanese shipping line Nippon Yusen Kaisha (NYK) is rolling out a new player in the dry bulk sector through a merger of three of its shipping and shipmanagement subsidiaries. Asahi Shipping, Hachiuma Steamship and Mitsubishi Ore Transport are set to combine into NYK Bulkship Partners. The…

  • DHT lands seven-year VLCC fixture

    DHT lands seven-year VLCC fixture New York-listed tanker giant DHT Holdings has fixed one of its VLCCs for seven years. The Svein Moxnes Harfjeld-led supertanker specialist has secured employment for the 2018-built DHT Appaloosa with an unnamed “global energy company”. The 319,200 dwt vessel will start its contract in May this year at $41,000 per…