krogragg

Category: splash24x7

  • COSCO rolls out 14‑vessel shipbuilding push at domestic yards

    COSCO rolls out 14‑vessel shipbuilding push at domestic yards COSCO Shipping has launched a fresh newbuilding push which will see 14 ships constructed at domestic yards. COSCO Shipping Development, the financing arm of China’s state-controlled shipping giant, has commissioned a newbuilding package, including 10 newcastlemax bulk carriers and four asphalt carriers. Four 210,000 dwt newbuilds…

  • Fred Olsen Windcarrier lands German wind farm deal

    Fred Olsen Windcarrier lands German wind farm deal Norwegian offshore wind installation player Fred Olsen Windcarrier has been selected by Skyborn Renewables, a German offshore wind developer of Blackrock’s Global Infrastructure Partners (GIP), to handle transport and installation of the wind turbines for the Gennaker offshore wind farm in the German Baltic Sea. The two…

  • Boskalis and Allseas to construct $1.4bn gas pipeline off Taiwan

    Boskalis and Allseas to construct $1.4bn gas pipeline off Taiwan A consortium of Boskalis and Allseas has been awarded a contract by CPC Corporation Taiwan for the second offshore gas pipeline from Yongan to Tongxiao. The total contract value is approximately €1.2bn ($1.39). This project is intended to improve the gas supply capacity in northern…

  • Wood-Sidara saga continues with more delays

    Wood-Sidara saga continues with more delays Consulting and engineering firm Wood has added another chapter to the takeover saga that has been going on since last year. Dar Al-Handasah Consultants Shair and Partners Holdings, also known as Sidara, has been courting the UK firm with different offers to sell up since April of last year.…

  • Asso.subsea scores cabling work for TenneT off Germany

    Asso.subsea scores cabling work for TenneT off Germany Greece-based offshore contractor Asso.subsea has been awarded the nearshore cable installation scope for TenneT’s three projects offshore Germany. The three projects are part of TenneT’s 2GW program and include BalWin4, LanWin1, and LanWin5, located off the northwestern coast of Baltrum Island. This also marks the beginning of…

  • Union Maritime locks in $130m financing for wind‑assisted RL2 newbuilds

    Union Maritime locks in $130m financing for wind‑assisted RL2 newbuilds Diversified UK shipowner Union Maritime has closed a $130m delivery financing package for two next‑generation LR2 tankers. The deal was led by Société Générale and the Export–Import Bank of China and arranged through a syndicated facility. The vessels are scheduled for delivery from Yangzijiang Shipbuilding…

  • Diana Shipping takes softer rate on new kamsarmax fixture

    Diana Shipping takes softer rate on new kamsarmax fixture Hot on the heels of ultramax charter deal with Cargill, Greece’s Diana Shipping has fixed one of its kamsarmaxes to Singapore-based Propel Shipping, accepting a reduced dayrate compared to the vessel’s previous employment. The New York-listed dry bulk outfit with 36 ships in its fleet has…

  • Safe Bulkers offloads ageing kamsarmax

    Safe Bulkers offloads ageing kamsarmax Greek dry bulk owner Safe Bulkers has sold one of its oldest vessels as it makes room for a wave of newbuild deliveries. The New York-listed firm is offloading the 2007 Tadotsu Tsuneishi-built kamsarmax Pedhoulas Leader to an undisclosed buyer for $12.5m. The 82,300 dwt bulker, estimated by online pricing…

  • MSC plans historic renewal of ageing feeder fleet

    MSC plans historic renewal of ageing feeder fleet The world’s largest container carrier is planning a historic renewal of its feeder fleet.  Broker Braemar is reporting a “megaproject” is in the works for Mediterranean Shipping Co (MSC) with the Soren Toft-led company looking to order up to 120 vessels ranging in size between 1,100 and…

  • Hutchison eyes Chinese strategic partner to get $22.8bn ports deal over the line

    Hutchison eyes Chinese strategic partner to get $22.8bn ports deal over the line CK Hutchison, the Hong Kong-based conglomerate, confirmed on Monday that it is in discussions to bring a “major strategic investor” from China into the bidding consortium for its $22.8bn global ports business. The move follows the expiration of a 145-day exclusivity agreement…

  • Houthis threaten all ships linked to Israeli trade in escalated maritime campaign

    Houthis threaten all ships linked to Israeli trade in escalated maritime campaign Yemen’s Houthi rebels on Sunday declared an escalation in their maritime campaign, announcing they will now target any ships belonging to companies that do business with Israeli ports, regardless of flag, ownership, or destination. The warning, delivered in a televised statement by the…

  • CK Line books up to four feeder boxships at Yangzijiang

    CK Line books up to four feeder boxships at Yangzijiang South Korea’s CK Line has placed an order for up to four feeder containerships at China’s Yangzijiang Shipbuilding. The Seoul-based liner operator has booked two firm 1,100 teu newbuilds at around $23 per ship, with options secured for two more. The first two units are…

  • Capital Maritime takes option on HD Hyundai Mipo boxship brace

    Capital Maritime takes option on HD Hyundai Mipo boxship brace Greece’s Capital Maritime has firmed up an order for two more LNG dual-fuel 2,800 teu containerships at HD Hyundai Mipo Dockyard in South Korea, bringing its total number of newbuildings to 10. The deal is valued at around $113m, with deliveries expected in July and…

  • Diana seals Cargill ultramax fixture

    Diana seals Cargill ultramax fixture New York-listed Greek dry bulk owner Diana Shipping has signed a time charter agreement with Cargill’s shipping unit in Singapore, for one of its ultramax vessels. The 2017-built DSI Phoenix has been fixed from August 3, 2025, with a duration running from a minimum of October 1, 2026, to a…

  • Sri Lanka’s top court orders $1bn payout over X-Press Pearl disaster

    Sri Lanka’s top court orders $1bn payout over X-Press Pearl disaster Sri Lanka’s Supreme Court has ordered the owners and operators of the X-Press Pearl container vessel to pay $1bn in compensation for the devastating environmental and economic damage caused when the ship caught fire and sank off Colombo in 2021. Described by the court…

  • West Africa now drives one in seven cape cargoes

    West Africa now drives one in seven cape cargoes West Africa now represents 14% of capesize liftings as compared to 6% three years ago, according to new data from Jefferies, an investment bank. The redrawing of the global cape trading map has been driven by strong bauxite export growth, mainly out of Guinea. Cape volumes…

  • Greece deploys salvage vessel to Red Sea amid renewed Houthi threats

    Greece deploys salvage vessel to Red Sea amid renewed Houthi threats Greece has dispatched a salvage vessel to the Red Sea in response to a spike in maritime attacks by Yemen’s Houthi militants, including the recent sinkings of two Greek-operated bulk carriers. The deployment comes as part of emergency measures to protect seafarers and safeguard…

  • Freight as a combination of science and art

    Freight as a combination of science and art Willem Vermaat, shipping director at Heidelberg Materials Trading, shares his perspective on the intricacies of dry bulk shipping. What is the challenge in calculating freight? It’s not rocket science, is it? Or is it perhaps a form of art? Fundamentally, freight is a simple equation; total expenses…

  • Sea Legend launches China–Europe Arctic container service

    Sea Legend launches China–Europe Arctic container service Niche Chinese liner Sea Legend Shipping is set to launch a direct container service between China and northern Europe via the Northern Sea Route (NSR). The new seasonal service, expected to begin in September, will offer an 18-day transit between East Asia and Europe—nearly halving the 30 to…

  • Six new Bourbon vessels set to serve Eni’s FLNG projects in Congo

    Six new Bourbon vessels set to serve Eni’s FLNG projects in Congo French offshore vessel player Bourbon has inked a five-year contract with Eni for the renewal of its crewboat fleet with an order for six new vessels. The contract covers the charter of six new S200X-G2 units, scheduled to be commissioned progressively between June…

  • German firm seeks owners to help solve the ‘silent killer’ that is engine scuffing

    German firm seeks owners to help solve the ‘silent killer’ that is engine scuffing German condition monitoring solutions specialist CM Technologies (CMT) is seeking owners and operators to help it out in trials to capture data on one of the shipping industry’s most costly and underreported problems: cylinder liner scuffing in two-stroke engines. Scuffing, a…

  • CTM taps in-transit hull cleaning robots

    CTM taps in-transit hull cleaning robots Monaco-based dry bulk pool giant C Transport Maritime (CTM) has invested in CRABI Robotics, a US-based startup developing an autonomous hull cleaning system aimed at tackling biofouling while ships remain in transit. The partnership will also see CTM serve as a pilot partner, helping the robotics firm bring its…

  • Livestock carrier comes under fire off Yemen

    Livestock carrier comes under fire off Yemen The 49-year-old Comoros-flagged livestock carrier Merinos Livestock was approached today by a wooden boat approximately 35 nautical miles south-southwest of Hodeidah, Yemen, according to maritime security specialist Vanguard Tech. The captain reported that the small boat opened fire and instructed them to proceed to Mokha, Vanguard Tech related…

  • Russia temporarily halts Black Sea oil loadings amid sweeping port security crackdown

    Russia temporarily halts Black Sea oil loadings amid sweeping port security crackdown Reuters reported yesterday that Russia has imposed a sudden halt on foreign oil tanker loadings at its key Black Sea export hubs, citing a new port security decree that requires Federal Security Service (FSB) clearance for all foreign vessels — a move poised…

  • Jinhui continues fleet trim with another supramax sale

    Jinhui continues fleet trim with another supramax sale Chinese dry bulk player Jinhui Shipping and Transportation has agreed to sell another supramax bulker, marking its fourth vessel sale of the year. The Oslo- and Hong Kong-listed company is divesting the 2009-built 65,900 dwt Jin Ji to Hong Kong-incorporated Huwell Tanker Spring for $11m. Jinhui said…

  • Houthi attacks branded war crimes by Human Rights Watch

    Houthi attacks branded war crimes by Human Rights Watch The Houthi armed group in Yemen attacked two bulk carriers in the Red Sea earlier this month, which NGO Human Rights Watch said today are violations of the laws of war amounting to war crimes. The Houthis sunk both ships, killing and injuring several crewmembers, and appear…

  • NATO warns of surging state-linked cyber threats targeting ports

    NATO warns of surging state-linked cyber threats targeting ports Ports are facing a deluge of cyber attacks from state-backed hackers, according to a new policy brief from NATO’s Cooperative Cyber Defence Centre of Excellence (CCDCOE). Handling 80% of world trade and underpinning NATO’s logistics chain, ports are now “magnets” for cyber aggression from Russia, Iran,…

  • CMA CGM and TotalEnergies set up LNG bunker venture at Europe’s busiest port

    CMA CGM and TotalEnergies set up LNG bunker venture at Europe’s busiest port French liner giant CMA CGM has teamed up with compatriot energy major TotalEnergies to form an LNG bunkering services joint venture at the port of Rotterdam. As part of the 50/50 JV, the two companies will co-own and operate a new 20,000…

  • Zara founder buys into UK ports

    Zara founder buys into UK ports The Financial Times is reporting Spanish billionaire Amancio Ortega, founder of the Zara fashion empire, has made his first move into maritime infrastructure, acquiring a 49% stake in UK port operator PD Ports through his investment arm Pontegadea. The deal sees Ortega’s family office partner with Brookfield Asset Management,…

  • MOL launches global shipmanagement arm

    MOL launches global shipmanagement arm Japan’s Mitsui OSK Lines (MOL) is consolidating its shipmanagement businesses under a single brand and location, aiming to streamline operations and enhance service quality across all vessel types. The Tokyo-headquartered shipping giant has renamed its Singapore-based LNG management arm, MOL LNG Ship Management, to MOL Global Ship Management (MOLGSM). The…

  • Next Geosolutions takes over subsea contractor Rana

    Next Geosolutions takes over subsea contractor Rana Italy’s Next Geosolutions (NextGeo) has acquired a controlling stake in fellow subsea contractor Rana Subsea, expanding its reach and capabilities in the offshore energy support segment. The Milan-listed company, part of Naples-based Marnavi Group, has agreed to buy 75.4% of Rana Subsea. The shares were acquired from Nettuno…

  • Hanwha orders historic LNG carrier from US yard

    Hanwha orders historic LNG carrier from US yard South Korea’s Hanwha Group has placed a landmark order for a liquefied natural gas (LNG) carrier at its US-based Hanwha Philly Shipyard — the first such export-market-viable vessel to be built in the United States in nearly half a century. The order, valued at a minimum of…

  • BIMCO issues clause to tackle US fees on China-linked ships

    BIMCO issues clause to tackle US fees on China-linked ships The Documentary Committee of the world’s largest shipping association, BIMCO, has adopted a standard clause aimed at addressing contractual uncertainties that may arise from the US Trade Representative’s notice of actions to impose fees on Chinese-related ships calling US ports. A BIMCO subcommittee comprising legal…

  • Putin orders FSB to vet all foreign ships entering Russian ports

    Putin orders FSB to vet all foreign ships entering Russian ports Russia has tightened access to its seaports, with president Vladimir Putin signing a decree on Monday mandating that all vessels arriving from foreign ports must now obtain prior approval from the country’s Federal Security Service (FSB). The executive order, which takes effect immediately, marks…

  • Tankers International adds Lila Global VLCC to pool

    Tankers International adds Lila Global VLCC to pool VLCC pooling platform Tankers International has brought in a new partner, adding Lila Global and its recently acquired VLCC to its fleet. The addition of the 313,798 dwt Lila Kochi lifts the Tankers International VLCC pool to 29 vessels. Dubai-based Lila Global, which has been expanding its…

  • India bans use of fraudulent foreign certificates of competency in seafarer crackdown

    India bans use of fraudulent foreign certificates of competency in seafarer crackdown India’s maritime watchdog has banned its shipowners and licensed recruiters from employing Indian nationals holding certificates of competency (CoCs) from several flag-of-convenience nations, following widespread fraud allegations. The Directorate General of Shipping (DGS) has barred Indian recruitment and placement service licensees (RPSLs) from…

  • EU and UK sanction UAE-based operator of the Gabon and Comoros flags

    EU and UK sanction UAE-based operator of the Gabon and Comoros flags The European Union and the United Kingdom have sanctioned Intershipping Services, a UAE-based company that operates the flag registries of Gabon and Comoros, both of which have played a central role in supporting the opaque tanker network transporting sanctioned Russian crude. The move…

  • MSC’s boxship binge rolls on with 10 more giants ordered across China

    MSC’s boxship binge rolls on with 10 more giants ordered across China Mediterranean Shipping Company (MSC) has once again underlined its seemingly insatiable appetite for new tonnage, declaring and placing orders for a further 10 ultra-large container vessels, its orderbook now larger than the extant fleet of Ocean Network Express (ONE), the world’s sixth largest…

  • Gibson enters maritime finance with RMK merger

    Gibson enters maritime finance with RMK merger UK shipbroking firm E.A. Gibson is expanding into maritime finance through a merger with RMK Maritime, a move that will see the latter rebranded as E.A. Gibson Capital from August this year. The tie-up adds capital advisory capabilities to Gibson’s service offering, reflecting a strategic step in adapting…

  • Eastern Pacific signs for suezmaxes at Hengli Heavy

    Eastern Pacific signs for suezmaxes at Hengli Heavy Eastern Pacific Shipping has signed a deal with China’s Hengli Heavy Industry for up to four suezmax tankers. The Singapore-based owner, controlled by Idan Ofer, has committed to two firm 158,000 dwt crude carriers, with options for two more. The price tag for all four ships is…

  • Vard books contract for two hybrid CSOVs

    Vard books contract for two hybrid CSOVs Norwegian shipbuilder Vard has secured a contract to design and build two commissioning service operation vessels (CSOVs) for an unnamed international customer. The order is valued between €100m ($116m) and €200m ($232m) and includes an option for an additional newbuild. The vessels will be of the upgraded VARD…

  • Cadeler locks in $245m charter for newest turbine installation unit

    Cadeler locks in $245m charter for newest turbine installation unit Denmark-based offshore wind vessel player Cadeler has taken early delivery of the newbuild jackup vessel and secured the units’ first long-term contract — a €210m ($245m) deal with turbine maker Vestas. The BW Group and Scorpio-backed shipowner acquired the vessel from China’s Shanghai Boqiang Heavy…

  • Moscow orders ship hull sweeps after surge in mystery blasts

    Moscow orders ship hull sweeps after surge in mystery blasts Russia’s state-run port operator FSUE Rosmorport has announced a RUB 3.16 billion ($39.5m) tender to inspect the underwater sections of vessels at key Baltic Sea ports amid mounting concerns over maritime sabotage. The sweeping safety initiative follows a string of mysterious explosions on merchant ships,…

  • Ship registry and 105 vessels among entities listed in EU’s latest Russian sanctions

    Ship registry and 105 vessels among entities listed in EU’s latest Russian sanctions The European Union officially rolled out its 18th sanctions package today, overcoming opposition from Slovakia earlier in the week. The sanctions are aimed squarely at crippling Moscow’s revenue streams and tightening the noose on its shadow fleet of sanctioned tankers  Under the…

  • Splash Wrap: Shipyards and geopolitics

    Splash Wrap: Shipyards and geopolitics Shipbuilding hogged the headlines at Splash this week with images of the White House and its occupant down considerably week-on-week. The East Asian shipbuilding tango – one of the persistent shipping news themes of 2025 – garnered the most column inches. A contraction in Chinese shipbuilding orders has been registered…

  • Diana Shipping makes move on Genco with $46m stock play

    Diana Shipping makes move on Genco with $46m stock play Greek dry bulk owner Diana Shipping has disclosed a 7.7% equity stake in US-listed peer Genco Shipping & Trading, further stirring interest around the Manhattan-based bulker player. A recent 13D filing with the US Securities and Exchange Commission shows the Semiramis Paliou-led Diana has acquired…

  • MPC Container Ships spends $228m on four 4,500 teu orders in China

    MPC Container Ships spends $228m on four 4,500 teu orders in China Oslo-listed MPC Container Ships has placed a $228m order for four 4,500 teu container vessels at China’s Taizhou Sanfu Ship Engineering with secured three-year charters, as well as divesting some older tonnage while expanding its financing platform with new debt facilities totalling over…

  • CSSC Shipping signs for newcastlemax newbuilds

    CSSC Shipping signs for newcastlemax newbuilds CSSC Shipping has moved to bolster its dry bulk portfolio with a pair of newcastlemax newbuilds. The Hong Kong-listed leasing arm of state-owned China State Shipbuilding Corporation (CSSC) has struck a deal for the 210,400 dwt units with Qingdao Beihai Shipbuilding and China Shipbuilding Trading. Each vessel is priced…

  • Yang Ming books LNG-fuelled boxship series at Hanwha Ocean

    Yang Ming books LNG-fuelled boxship series at Hanwha Ocean Taiwanese shipping line Yang Ming Marine Transport has lined up a series of containership newbuilds at South Korean shipbuilder Hanwha Ocean, continuing its fleet renewal programme with a focus on dual-fuel technology. The company has booked seven LNG dual-fuel 15,500 teu vessels in a deal valued…

  • Navigator and Amon Maritime team up for ammonia carrier newbuilds

    Navigator and Amon Maritime team up for ammonia carrier newbuilds New York-listed handysize gas carrier owner and operator Navigator Holding has formed a joint venture with Norway’s Amon Maritime for two newbuild ammonia-fuelled liquefied ammonia carriers. The JV, named Navigator Amon Shipping, has placed an order with Nantong CIMC Sinopacific Offshore & Engineering for two…

  • BW LPG locks in $595m across two financing deals

    BW LPG locks in $595m across two financing deals VLGC owner and operator BW LPG has wrapped up two financing facilities totalling $595m, aimed at supporting its fleet expansion, refinancing existing debt, and boosting liquidity. The dual-listed unit of Singapore’s BW Group closed a $380m term loan and revolving credit facility backed by seven banks.…

  • USTR threat hits Chinese shipyards as global orders slump

    USTR threat hits Chinese shipyards as global orders slump A contraction in Chinese shipbuilding orders has been registered in the first half of 2025, with Beijing’s once unassailable dominance increasingly under pressure from geopolitical tensions and a softening global market. According to new data from BIMCO, China’s share of newbuilding contracts dropped from 72% to…

  • HSG Sungdong returns to shipbuilding spotlight with Samsung Heavy tie-up

    HSG Sungdong returns to shipbuilding spotlight with Samsung Heavy tie-up HSG Sungdong Shipbuilding, once one of the top 10 shipbuilders in the world, has re-entered the finished shipbuilding market, forging a strategic partnership with Samsung Heavy Industries and securing major orders in offshore wind and marine infrastructure. After years of financial hardship that culminated in…

  • Seaspan pens deal to reinforce Canadian shipbuilding steel supply chain

    Seaspan pens deal to reinforce Canadian shipbuilding steel supply chain Seaspan Vancouver Shipyards has signed a memorandum of understanding with Stigterstaal Canada and Algoma Steel to reestablish a domestic steel supply chain focused on bolstering and expanding shipbuilding in Canada. This move follows the current trend of countries trying to ensure their own shipbuilding supply…

  • HD Hyundai eyes Morocco shipyard

    HD Hyundai eyes Morocco shipyard South Korea’s HD Hyundai Heavy Industries is eyeing a strategic leap into North Africa, as it seeks to secure long-term operating rights for Morocco’s flagship Casablanca shipyard. The latest global expansion effort comes at a time when South Korea’s largest shipbuilder aimed faces production bottlenecks at home amid a record…

  • Clarion Group sets sail with launch of Nigerian-owned shipping line

    Clarion Group sets sail with launch of Nigerian-owned shipping line The Clarion Group, a prominent Nigerian logistics and port services firm, has officially entered the regional liner shipping market with the launch of Clarion Shipping. The new shipping line took delivery of its first vessel, the 349 teu Ocean Dragon, on July 3 from China’s…

  • Trump’s shipbuilding revival wavers as key maritime adviser departs

    Trump’s shipbuilding revival wavers as key maritime adviser departs The Trump administration’s early ambition to revitalise US shipbuilding appears to be losing momentum, following the departure of Ian Bennitt, the White House National Security Council’s (NSC) senior director for maritime and industrial capacity. Bennitt’s exit, alongside that of NSC chief of staff Brian McCormack, underscores…

  • Hainan Yuzhou Shipping books deck carrier newbuild

    Hainan Yuzhou Shipping books deck carrier newbuild Chinese shipowner Hainan Yuzhou International Shipping is expanding its fleet of specialised cargo carriers through a newbuilding deal at a domestic yard. The company has ordered a new 12,000 dwt heavylift deck carrier at Yihai Heavy Industry – a Yangzhou yard that has delivered various specialised ships for…

  • Tanjung Offshore seals Hibiscus extension

    Tanjung Offshore seals Hibiscus extension Malaysia’s Tanjung Offshore has bagged a contract extension from Hibiscus Oil & Gas for maintenance, construction and modification services on the PM3-CAA oilfield. Under the agreement, the offshore services player of T7 Global will stay on the job until mid-December this year, following the initial fixture in December 2024. Financial…

  • Fugro surveys to help develop Ireland’s offshore grid

    Fugro surveys to help develop Ireland’s offshore grid Dutch surveyor Fugro has been awarded a seven-year framework agreement with Ireland’s state-owned electricity transmission operator EirGrid. The agreement is for a full suite of geo-data surveys for the “Powering Up Offshore – South Coast” project. The initiative will develop offshore electricity substations and export cable routes…

  • Trump threatens secondary sanctions in 50-day ultimatum to Putin

    Trump threatens secondary sanctions in 50-day ultimatum to Putin US president Donald Trump on Monday announced a sweeping threat to impose secondary sanctions on nations importing Russian exports — a move that could shake up global energy markets and disrupt tanker trades from the Black Sea to the Indian Ocean. Sitting beside NATO secretary-general Mark…

  • Itochu orders world’s first ammonia bunkering vessel

    Itochu orders world’s first ammonia bunkering vessel Japanese trading giant Itochu Corporation is set to operate the world’s first ammonia bunkering vessel by September 2027. Itochu, via its Singapore bunkering subsidiary, has signed a shipbuilding contract for the construction of a 5,000 cu m ammonia bunkering vessel with Sasaki Shipbuilding and an agreement regarding the…

  • Genco targets fleet and growth moves with new $600m credit line

    Genco targets fleet and growth moves with new $600m credit line US-based dry bulk owner Genco Shipping & Trading has completed an amended and upsized revolving credit facility, boosting its borrowing capacity to $600m as it positions itself for future growth and continued balance sheet flexibility. The new deal increases the New York-listed company’s credit…

  • Search ends for missing Eternity C crew as Red Sea sinks deeper into crisis

    Search ends for missing Eternity C crew as Red Sea sinks deeper into crisis The search for the remaining crew members of the Eternity C, a bulk carrier sunk by Houthi rebels in the Red Sea, has been formally called off, with at least four mariners presumed dead and 11 still unaccounted for, according to…

  • DP World to invest $800m developing Syrian port

    DP World to invest $800m developing Syrian port DP World has signed a 30-year concession agreement with Syria’s General Authority for Land and Sea Ports to develop and operate the port of Tartus. As part of the agreement, DP World will invest $800m over the duration of the concession to upgrade the port’s infrastructure and…

  • Eimskip sells feeder vessel to Portugal’s Grupo Sousa

    Eimskip sells feeder vessel to Portugal’s Grupo Sousa Icelandic carrier Eimskip has divested one of its cornerstone feeder vessels, Lagarfoss, to Portuguese logistics and maritime group Grupo Sousa. The 875 teu vessel, built in 2014 by Rongcheng Shenfei Shipbuilding, is set to change ownership by September. While financial details of the sale remain confidential, Eimskip…

  • Advantage Tankers bolsters VLCC orderbook

    Advantage Tankers bolsters VLCC orderbook Geneva-based Advantage Tankers has returned to South Korea’s Hanwha Ocean with a fresh order for another VLCC newbuilding as part of a growing strategic push into the larger tanker segment. Industry sources report that the Tugrul Tokgoz-led company has declared an option for a third 320,000 dwt unit at the…

  • Chartworld eyes New Dayang boxships

    Chartworld eyes New Dayang boxships Greece’s Chartworld Shipping is returning to the newbuilding arena with plans to bolster its container fleet, reportedly lining up a deal for a quartet of 3,100 teu vessels at Chinese builder New Dayang. Athens-based shipbroking sources report that the Kollakis brothers-led diversified owner has signed a letter of intent covering…

  • Hafnia seals $715m credit line backed by 32 ships

    Hafnia seals $715m credit line backed by 32 ships Product tanker giant Hafnia has secured a $715m revolving credit line, secured by a fleet of 32 modern vessels and supported by a diverse syndicate of 11 leading international banks. The seven-year facility, which features a highly competitive margin and a 20-year age-adjusted amortisation structure, provides…

  • Red Sea traffic falls as Houthis vow to continue attacks

    Red Sea traffic falls as Houthis vow to continue attacks The Philippine Department of Migrant Workers (DMW) confirmed on Thursday that three more Filipino seafarers from the attacked and sunken vessel Eternity C have been rescued in the Red Sea, bringing the total number of rescued Filipinos to eight. Thirteen remain unaccounted for as search…

  • Guinea forms its own shipping line to move booming bauxite exports

    Guinea forms its own shipping line to move booming bauxite exports Bauxite shipping out of West Africa, a fast-growing source of extra tonne-miles for the cape trades, faces headwinds with news from Guinea where the government is vowing to take greater control of the maritime supply chain. Guinea has been the dominant source of bauxite…

  • Splash Wrap: Red Sea attacks lead coverage

    Splash Wrap: Red Sea attacks lead coverage The global shipping industry has been rocked by two deadly attacks this week in the Red Sea, with Yemen’s Houthi rebels launching their first campaign against merchant shipping of the year, sinking two bulk carriers, killing at least three seafarers, wounding others, and reportedly kidnapping crew. A new…

  • Indonesia’s Jhonlin Marine quietly builds ultramax fleet with Japanese tonnage

    Indonesia’s Jhonlin Marine quietly builds ultramax fleet with Japanese tonnage Jhonlin Marine Trans, the shipping arm of Indonesia’s sprawling Jhonlin Group, has quietly assembled an impressive trio of Japanese-built ultramax bulk carriers, signalling a growing ambition in the dry bulk sector from one of the country’s most powerful conglomerates. The company’s fleet now includes three…

  • HD Hyundai deepens robotics push with German partnership as shipyard humanoids take shape

    HD Hyundai deepens robotics push with German partnership as shipyard humanoids take shape As labour shortages continue to challenge the shipbuilding sector, South Korea’s HD Hyundai has doubled down on robotics innovation, announcing a strategic partnership with German cognitive robotics pioneer NEURA Robotics and sister firm HD Hyundai Robotics. The three-way collaboration aims to develop…

  • One in six ships flagged as potential Houthi targets

    One in six ships flagged as potential Houthi targets The global shipping industry has been rocked by two deadly attacks this week in the Red Sea, with Yemen’s Houthi rebels launching their most violent maritime campaign since early 2024, killing at least three seafarers, wounding others, and reportedly kidnapping crew. The bulk carrier Eternity C,…

  • Ørsted secures $3bn in financing for offshore wind farm in Taiwan

    Ørsted secures $3bn in financing for offshore wind farm in Taiwan Danish offshore wind developer Ørsted has secured TWD 90bn ($3bn) in financing for the 632MW Greater Changhua 2 wind farm off Taiwan. The financing deal was arranged with 25 banks and five export credit agencies and covers part of the financing for the project.…

  • Toro ships out LPG carrier to tanker spin-off Robin Energy

    Toro ships out LPG carrier to tanker spin-off Robin Energy Nasdaq-listed owner Toro Corp is selling one of its LPG carriers in an $18m deal involving affiliated parties. The Petros Panagiotidis-led spinoff of Cyprus-based Castor Maritime is offloading the 2015-buit 5,000 cu m Dream Syrax to a subsidiary of Robin Energy, a Nasdaq-listed entity controlled…

  • Panama Canal rebounds as container and LPG volumes rise

    Panama Canal rebounds as container and LPG volumes rise While the Red Sea has roared back to the front pages of the shipping press this week, and the Black Sea remains blighted by war, one other chokepoint that has caused supply chain chaos in recent years has reported that it is operating at full capacity.…

  • World’s largest coal port plots post-coal course as China slashes imports

    World’s largest coal port plots post-coal course as China slashes imports China is slashing coal imports dramatically, forcing the world’s largest coal export port to contemplate a future beyond the black fossil fuel.  This decline is largely driven, according to analysis by Greek broker Intermodal, by rising domestic coal output in China, elevated inventories, increased…

  • Trafigura takes stake in ZeroNorth

    Trafigura takes stake in ZeroNorth Global commodities powerhouse Trafigura has taken a strategic equity stake in a well-known vessel optimisation brand, ZeroNorth. The new partnership will see ZeroNorth’s platform deployed across Trafigura’s controlled fleet of over 350 vessels, including its voyage optimisation systems, emissions analytics and vessel reporting tools. While financial terms of the transaction…

  • Hanwha Shipping bags third VLCC newbuild

    Hanwha Shipping bags third VLCC newbuild Hanwha Shipping, the shipowning arm of South Korean builder Hanwha Ocean, has added another vessel to its growing in-house fleet, placing an order for an additional VLCC. The Okpo-based yard — formerly known as Daewoo Shipbuilding & Marine Engineering (DSME) — is scheduled to deliver the 300,000 dwt scrubber-fitted…

  • Navios Maritime adds to South Korean boxship newbuild series

    Navios Maritime adds to South Korean boxship newbuild series Greece’s Navios Maritime Partners is ramping up its exposure in the container shipping sector with a fresh order for four modern boxships at South Korea’s HJ Shipbuilding & Construction. The Angeliki Frangou-led company is understood to have signed for four 8,000 teu vessels, in a deal…

  • Sinokor books four boxships at HD Hyundai yards

    Sinokor books four boxships at HD Hyundai yards South Korean shipowner Sinokor Merchant Marine has placed an order with compatriot shipbuilder HD Hyundai, securing four containerships in a deal valued at KRW 834.8bn ($611m). HD Korea Shipbuilding & Offshore Engineering, the holding company of HD Hyundai, revealed the contract in a stock exchange filing, without…

  • Trump wipes out subsidies for wind and solar power

    Trump wipes out subsidies for wind and solar power US president Donald Trump has signed an executive order to eliminate subsidies for green energy sources, more precisely wind and solar power, as he makes another step on his warpath against renewable energy. The order directs the secretary of the treasury to terminate the clean electricity…

  • EDF delays French offshore wind farm commissioning by two years

    EDF delays French offshore wind farm commissioning by two years French energy major EDF has announced that the commercial commissioning of the Calvados offshore wind farm has been pushed back to late 2027. This will see the project commissioned more than two years after its original schedule. The project was previously set for start-up in…

  • Red Sea shipping crisis deteriorates rapidly as attacks intensify

    Red Sea shipping crisis deteriorates rapidly as attacks intensify The security situation in the Red Sea has taken a sharp turn for the worse over the past 48 hours, with back-to-back attacks on merchant vessels and Israeli airstrikes targeting multiple Yemeni ports. Yesterday, the Liberian-flagged bulk carrier Eternity C, operated by Greek firm Cosmoship Management,…

  • Copper concentrate shipments on track for record year

    Copper concentrate shipments on track for record year The global seaborne trade in copper concentrates is surging to new highs, with fresh data from Ursa Shipbrokers and AXSMarine showing record-breaking shipments in the first half of 2025. Loadings reached 18.5m tonnes during the six-month period, a 6.3% year-on-year increase from 17.4 million tonnes in the…

  • World’s first hybrid solar-powered inland shipping vessel starts work

    World’s first hybrid solar-powered inland shipping vessel starts work Dutch solar innovator Wattlab and German inland shipping giant HGK Shipping have unveiled the world’s first inland vessel capable of using solar power for propulsion. The newly delivered Blue Marlin represents a major step forward in hybrid marine technology, showcasing how solar energy can be integrated…

  • Heidmar enters ownership space with first boxship acquisition

    Heidmar enters ownership space with first boxship acquisition Athens-based pool operator and shipmanager Heidmar has announced its first-ever vessel acquisition, marking a strategic shift in the Nasdaq-listed company’s evolution from pure-play management to asset-backed operations. The Pankaj Khanna-led outfit has struck a deal to buy the 2008-built 1,702 teu feeder containership A Obelix for $25.25m.…

  • Danes press ahead with project to ship CO2 in containers

    Danes press ahead with project to ship CO2 in containers Danish firm DecarbonICE is looking to develop a full CO2 transport value chain with the gas in solid form, otherwise known as dry ice. The company wants to show the benefits of this kind of transfer compared to transporting CO2 in liquid form in pressurised…

  • Emerging Greek owner Venergy steps into newbuild market with MRs in South Korea

    Emerging Greek owner Venergy steps into newbuild market with MRs in South Korea Venergy Maritime, the Greece-based tanker newcomer led by Vyron Vasileiadis, has placed its first newbuilding order, contracting two MR product tankers at South Korea’s K Shipbuilding. The firm order for the 50,000 dwt pair is for delivery in the first quarter of…

  • New maritime electrification alliance out to change zero-emission game

    New maritime electrification alliance out to change zero-emission game Four maritime associations have launched the Global Alliance for Maritime Electrification (GAME), a coalition of nonprofit organisations looking to accelerate the electrification of maritime transportation. The new alliance will initially focus on inland, nearshore, and commercial vessels and push for zero-emission solutions through coordinated research, policy…

  • McDermott picks up Brazilian contract

    McDermott picks up Brazilian contract Houston-based McDermott has secured an offshore transportation and installation contract from BRAVA Energia for subsea work at two major deepwater developments in Brazil. The scope covers transportation and installation of flexible flowlines, umbilicals, and associated subsea equipment for four new wells—two each at the Papa-Terra field in the Campos Basin…

  • DP World to take helm of NovaAlgoma Cement Carriers

    DP World to take helm of NovaAlgoma Cement Carriers P&O Maritime Logistics, a unit of ports and logistics heavyweight DP World, has acquired a controlling stake in NovaAlgoma Cement Carriers (NACC), the leading operator of pneumatic cement carriers, in a move that positions the Dubai-based group deeper into infrastructure-driven dry bulk trades. The transaction, with…

  • Maersk Tankers brings technical ops in-house as ammonia fleet takes shape

    Maersk Tankers brings technical ops in-house as ammonia fleet takes shape Denmark’s Maersk Tankers is set to establish in-house technical management operations as it prepares to take delivery of very large ammonia carriers (VLACs) and seeks tighter alignment between technical expertise and commercial ambitions. The move marks a pivot from the company’s 2021 decision to…

  • Stainless Tankers pledges shareholder return after third sale

    Stainless Tankers pledges shareholder return after third sale Oslo-listed Stainless Tankers has inked a deal to sell its 2008-built J19 stainless steel chemical tanker Gwen for $16.16m, marking the latest step in the company’s ongoing fleet optimisation programme. The Norway-based owner, backed by UK shipping fund Tufton, said the vessel is scheduled to be delivered…

  • MOL links up with ONGC for VLEC newbuilds

    MOL links up with ONGC for VLEC newbuilds Japanese shipowner Mitsui OSK Lines (MOL) is partnering up with India’s Oil and Natural Gas Corporation (ONGC) to build and operate very large ethane carriers (VLECs). According to the expression of interest, the deal, structured as a joint ventur,e will see the contracting of two newbuild VLECs…

  • Jinhui agrees third supramax sale

    Jinhui agrees third supramax sale Chinese bulker owner and operator Jinhui Shipping and Transportation has sealed its third supramax sale this year. The Oslo- and Hong Kong-listed company is offloading the 2009-built 65,900 dwt Jin Gang to Singapore’s Huwell Shipping for $10.8m. The Shanghai Shipyard-built unit should change hands by August 15, the operator of…

  • Ocean Installer vessel scores offshore wind cabling work

    Ocean Installer vessel scores offshore wind cabling work Marine construction contractor Ocean Installer, a Moreld subsidiary, has won two new contracts for the North Sea Giant subsea construction vessel. The 2011-built vessel will be used in the offshore wind market for cable repair and cable installation gigs. The contracts are expected to take approximately three…

  • Limpet mine threat in the Mediterranean grows

    Limpet mine threat in the Mediterranean grows A series of suspected limpet mine attacks and unexplained blasts targeting commercial tankers in the Mediterranean has reignited concern over the evolving nature of maritime threats.  “These incidents – marked by stealth, ambiguity, and geopolitical undertones – signal a shift in the maritime risk landscape that demands a…