krogragg

Category: Europe

  • Diana Shipping seals Cargill ultramax charter

    Diana Shipping seals Cargill ultramax charter New York-listed Greek bulker owner Diana Shipping has secured a new time charter deal with Cargill Ocean Transportation for one of its ultramaxes. The Semiramis Paliou-led company has fixed the 60,404 dwt DSI Polaris until July 21 next year at $12.500 per day. The charter starts on July 1…

  • SLB OneSubsea wins contract for Northern Lights phase two CO2 project

    SLB OneSubsea wins contract for Northern Lights phase two CO2 project SLB OneSubsea, a joint venture backed by SLB, Aker Solutions, and Subsea7, has secured an engineering, procurement and construction (EPC) contract from Equinor for the second phase of the Northern Lights CO₂ storage project offshore Norway. The contract covers the delivery of two satellite…

  • Performance Shipping agrees refinancing deal with Greek bank

    Performance Shipping agrees refinancing deal with Greek bank Nasdaq-listed Greek tanker owner and operator Performance Shipping has agreed to the refinancing of an existing outstanding loan of $29.75m with compatriot Alpha Bank. Proceeds from the facility will be used to fully refinance the existing debt maintained with Alpha Bank, secured by the 2013-built aframax P.…

  • Fire-damaged Morning Midas car carrier sinks

    Fire-damaged Morning Midas car carrier sinks The salvors, Resolve Marine, have reported that the Morning Midas car carrier sank in international waters in the North Pacific, following a fire that broke out onboard on June 3. Damage caused by the fire, compounded by heavy weather and subsequent water ingress, caused the Morning Midas to sink…

  • Latsco in for Huangpu Wenchong boxship brace

    Latsco in for Huangpu Wenchong boxship brace Greece’s Latsco Shipping is expanding its footprint in the containership sector with newbuildings in China. Shipbuilding sources in Greece have linked the Paris Kassidokostas-Latsis-led diversified owner, traditionally linked to tankers and gas carriers, to a deal for two 1,900 teu vessels at Huangpu Wenchong. The CSSC-affiliated yard is…

  • Aristides Pittas sells majority stake in EuroHoldings to Latsis-linked Marla Investments

    Aristides Pittas sells majority stake in EuroHoldings to Latsis-linked Marla Investments EuroHoldings, the NASDAQ-listed container shipping company spun off from Euroseas earlier this year, has announced a change in ownership following the sale of 51.04% of its outstanding common shares to Marla Investments, an entity affiliated with Greece’s Latsis family. The shares were sold by…

  • 100 days to surrender

    100 days to surrender Philippos Ioulianou, managing director of Emissionlink, on what shipping has learned from the EU ETS. In less than 100 days, shipping companies operating in Europe face a critical test as the deadline for surrendering carbon allowances under EU ETS is September 30. Miss the deadline, and the consequences could be severe,…

  • Solstad pens two CSV contracts in South America

    Solstad pens two CSV contracts in South America Norwegian offshore vessel owner Solstad Offshore has signed contracts for two of its construction support vessels (CSV). Solstad said in late April that it won deals for three vessels in Brazil. However, all of the contracts were subject to board approval. Two were for yet unnamed AHTS…

  • SeaBird Exploration changes name following merger

    SeaBird Exploration changes name following merger Marine seismic specialist SeaBird Exploration has changed its name to SED Energy Holdings following the successful merger with Singapore’s tender drilling rig specialist Energy Drilling. The name and ticker code change, now ENH, will be effective on Euronext Oslo Børs from and including June 20, 2025. Final approval of…

  • Australia places sanctions on 60 Russian tankers

    Australia places sanctions on 60 Russian tankers The government of Australia has imposed targeted sanctions on 60 vessels linked to Russia’s so-called shadow fleet used to circumvent restrictions on oil and gas exports. This move marks the first time Australia has imposed sanctions against the shadow fleet. The vessels within the fleet are operating using…

  • Philippe Louis-Dreyfus passes away

    Philippe Louis-Dreyfus passes away One of the most famous names in French shipping has passed away. French shipowners’ association Armateurs de France has revealed that Philippe Louis-Dreyfus, a leading figure in international shipping and former president of the organisation, has died at the age of 80. He left a lasting mark on the shipping sector…

  • Wilson Sons to support TotalEnergies offshore oil production in Brazil

    Wilson Sons to support TotalEnergies offshore oil production in Brazil Wilson Sons, the largest integrated port and maritime logistics operator in Brazil, has signed a new agreement with TotalEnergies to provide logistics support to oil production activities in the Lapa field off Brazil. The field is located in the pre-salt layer of the Santos Basin,…

  • RINA acquires naval architects Foreship

    RINA acquires naval architects Foreship Italian classification society RINA has acquired Finnish naval architecture and marine engineering consultancy Foreship. The transaction, with an undisclosed price tag, includes the entire share capital of Foreship, previously held by private equity firm Vaaka Partners and the company’s management. Helsinki-based Foreship, which employs more than 90 experts across eight…

  • Singapore’s Proteus teams with Symbio to bring automotive hydrogen fuel cell tech to shipping

    Singapore’s Proteus teams with Symbio to bring automotive hydrogen fuel cell tech to shipping A new hydrogen fuel cell system tailored for maritime applications has been unveiled by Singapore-based Proteus Energy in partnership with French hydrogen fuel cell specialist Symbio. The modular system, known as the Proteus Maritime Fuel Cell Solution, is intended for deployment…

  • Hagland buys chartering platform Vanora

    Hagland buys chartering platform Vanora Norwegian maritime group Hagland has acquired compatriot chartering platform Vanora in a strategic move to bolster its digital service offerings. The financial terms of the deal were not disclosed. The deal will see the Aanensen family run vehicle integrate Vanora’s flagship solution, VesselAdmin, a digital chartering and payment platform designed…

  • Performance Shipping charters out LR1 newbuild to Mercuria

    Performance Shipping charters out LR1 newbuild to Mercuria Nasdaq-listed Greek tanker owner and operator Performance Shipping has entered into a long-term time charter contract with Mercuria Energy Trading for a newbuilding LR1 tanker. Mercuria chartered the tanker for a firm period of four years, through early 2031, at a daily gross charter rate of $23,750.…

  • Diana ships out 15-year-old panamax

    Diana ships out 15-year-old panamax Greek bulker owner Diana Shipping has struck a deal to sell its 15-year-old panamax to an undisclosed buyer. The New York-listed company is offloading the 75,700 dwt Selina after more than nine years for $11.8m, before commissions. The Jiangnan Shanghai Changxing-built vessel, estimated at $12.35m by online pricing platform VesselsValue,…

  • Russian-linked tanker crew accused in Finland-Estonia undersea cable sabotage probe

    Russian-linked tanker crew accused in Finland-Estonia undersea cable sabotage probe Finnish authorities have formally accused senior officers aboard the Eagle S, an oil tanker linked to Russia’s shadow fleet, of criminal misconduct following significant damage to vital undersea infrastructure between Finland and Estonia late last year. The incident, which took place on December 25, 2024,…

  • GC Rieber in battery-powered bulker move

    GC Rieber in battery-powered bulker move Norway’s GC Rieber Shipping has revealed plans to develop a fully electric, battery-powered dry bulk vessel. The project is a collaboration with freight partners GC Rieber Minerals and Franzefoss Minerals, and is tailored for shortsea operations along the Norwegian coast. The initiative is backed by a $9.5m grant from…

  • Eitzen targets world’s largest all-electric boxships

    Eitzen targets world’s largest all-electric boxships Norway’s Eitzen Group has set out to build battery-powered containerships that could potentially become the world’s largest of their kind. Axel Eitzen’s company Eitzen Avanti, which oversees a network that includes Christiania Shipping, which specialises in chemical tankers and also operates LPG vessels, as well as all-electric shipping player…

  • Norway’s Møre Sjø orders hydrogen-powered bulkers

    Norway’s Møre Sjø orders hydrogen-powered bulkers Norwegian shipping company Møre Sjø has placed an order for a pair of hydrogen-powered bulk carriers at Turkey’s Gelibolu Shipyard. The 4,000 dwt newbuilds slated for delivery in 2027 will feature hydrogen fuel cells and battery propulsion systems. The Ørsta-based company currently operates two 1983- and 1984-built bulk carriers…

  • Blystad signs for boxship newbuilds in China

    Blystad signs for boxship newbuilds in China Norwegian-based Blystad Group is set to expand its boxship exposure with three newbuildings from China. Brokers report that Arne Blystad’s investment firm has signed up for 3,000 teu vessels at Penglai Zhongbai Jinglu Ship Industry. The total value of the order stands at approximately $129m, with deliveries scheduled…

  • Chartwell Marine designs CTV to support legacy offshore wind turbines

    Chartwell Marine designs CTV to support legacy offshore wind turbines NR Marine Services has commissioned UK-based ship designer Chartwell Marine to design a new CTV, which will be capable of supporting older generation assets, now referred to as legacy turbines. These vessels will still be constructed and outfitted with modern technologies to maximise vessel fuel…

  • Geneva Dry 2026 opens for business

    Geneva Dry 2026 opens for business Organisers of Geneva Dry, the world’s premier commodities shipping conference, have unveiled today the agenda for the 2026 edition of the summit with marketing officially underway for what is forecast to be a record turnout at the five-star Hotel President Wilson on the shore of Lake Geneva. The annual…

  • Toro circles back to tankers with $36m MR deal

    Toro circles back to tankers with $36m MR deal Nasdaq-listed owner Toro Corp has made a swift return to the tankers segment with the acquisition of a modern MR unit. The Petros Panagiotidis-led spinoff of Cyprus-based Castor Maritime has struck a deal for an unnamed 2021-built products carrier costing $36.25m. The company said it would…

  • EU pushes for $45 Russian oil price cap and expands crackdown on shadow fleet

    EU pushes for $45 Russian oil price cap and expands crackdown on shadow fleet The European Union has proposed a fresh round of sanctions against Russia, including those targeting more than 70 ships in the so-called shadow fleet and lowering the price cap on Russian seaborne oil. The latest proposal, unveiled on Tuesday by European…

  • DryDel inks ultramax order in Japan

    DryDel inks ultramax order in Japan Greek bulker owner and operator DryDel Shipping is expanding its fleet with an ultramax newbuilding deal in Japan. The Costas Dellaportas-led company has penned a contract with Nihon Shipyard to see the 64,000 dwt vessel delivered in 2028. Financial terms have not been divulged. The order marks the 10th…

  • Clarksons Port Services to support O&M of RWE’s German offshore wind farm

    Clarksons Port Services to support O&M of RWE’s German offshore wind farm German utility RWE has signed two deals with Clarksons’ port services unit to support operations and maintenance activities at the Nordseecluster offshore wind project. Clarksons Port Services will construct a new warehouse facility in the port of Eemshaven in the Netherlands. The facility…

  • Chicago PE firm teams with Manish Singh to set up shipping tech acquisition fund

    Chicago PE firm teams with Manish Singh to set up shipping tech acquisition fund Chicago-based private equity firm GTCR has formed a partnership with well-known shipping investment consultant Manish Singh, understood to be worth hundreds of millions of dollars, to acquire maritime tech companies. Singh will serve as CEO of the newly formed Maris Investments,…

  • Diana Shipping charters out panamax to Stone Shipping

    Diana Shipping charters out panamax to Stone Shipping Greek bulker owner Diana Shipping has entered into a time charter contract with Stone Shipping for one of its panamax vessels. The company hired the 2014-built, 77,529 dwt ice-class bulker Atalandi. The gross charter rate is $9,000 per day for the 35 days of the charter period…

  • Inmarsat: ’The opportunity to transform is fantastic’

    Inmarsat: ’The opportunity to transform is fantastic’ Shipping is entering an exciting, potentially transformative era over the coming decade, reckons Ben Palmer, the president of Inmarsat Maritime. The question he has though is whether the industry will be able to grab all the opportunities out there, or will its conservative, fragmented nature hold it back?…

  • ‘Britain has gone to hell, like Norway’: John Fredriksen

    ‘Britain has gone to hell, like Norway’: John Fredriksen Norway’s richest man, John Fredriksen, has launched a blistering critique of the state of life in both Norway and the UK, confirming he is relocating some of his business to the United Arab Emirates to escape what he sees as a Western world in steep decline.…

  • Germany’s CLI books MPP newbuild at Royal Bodewes

    Germany’s CLI books MPP newbuild at Royal Bodewes German shipping and logistics group CLI has contracted a multipurpose (MPP) newbuilding at Dutch yard Royal Bodewes. The deal with an undisclosed value covers an 8,500 dwt unit that has been designed to feature advanced environmental and fuel efficiency technologies, including a methanol-ready main engine and an…

  • Carsten Rehder lines up more newbuilds in India

    Carsten Rehder lines up more newbuilds in India German shipowner Carsten Rehder Schiffsmakler und Reederei is further strengthening its ties with India’s Garden Reach Shipbuilders and Engineers (GRSE), signing a new memorandum of intent for four additional multipurpose (MPP) dry cargo vessels. The agreement, signed during the Nor-Shipping event in Oslo, brings the total number…

  • MAN Energy Solutions changes name to Everllence

    MAN Energy Solutions changes name to Everllence Ship engine manufacturer MAN Energy Solutions has changed its name and will from now on be known as Everllence. Everllence remains part of the Volkswagen Group, and the company’s product and service portfolio also remains unchanged. To commemorate the occasion, CEO Uwe Lauber symbolically unveiled the new company…

  • HHLA buys majority stake in Ukrainian intermodal terminal

    HHLA buys majority stake in Ukrainian intermodal terminal Hamburger Hafen und Logistik AG (HHLA) has decided to invest in another terminal in Ukraine. The company is acquiring 60% of the shares in the Eurobridge Intermodal Terminal in Batiovo in western Ukraine. HHLA sees Ukraine as a hub for continental container transport and is simultaneously strengthening…

  • Crew evacuate fire-hit Zodiac car carrier

    Crew evacuate fire-hit Zodiac car carrier London-based owner Zodiac Maritime has launched an emergency response following a fire that broke out on its 4,902 ceu car carrier Morning Midas. According to the company, the incident occurred at around midnight local time on June 3 in the Pacific Ocean, some 1,900 km from the port of…

  • Purus confirms South Korean LNG carrier order

    Purus confirms South Korean LNG carrier order UK-based shipowner Purus Marine has firmed up an order for a new LNG carrier at HD Hyundai Heavy Industries, adding to its growing gas carrier orderbook in South Korea. The Julian Proctor-led company has signed for a 180,000 cu m newbuild with delivery set for the fourth quarter…

  • OceanPal offloads its oldest bulker

    OceanPal offloads its oldest bulker Greek shipowner OceanPal has struck a deal to sell its oldest bulk carrier. The Nasdaq-listed company is shipping out the 2004-built panamax Protefs to an unnamed buyer for $7m before commissions. The Jiangnan Shanghai Changxing-built 73,600 dwt unit should change hands by June 17. Earlier this year, OceanPal sold the…

  • Diana Shipping fixes out newcastlemax to Bohai Ocean Shipping

    Diana Shipping fixes out newcastlemax to Bohai Ocean Shipping Greek bulker owner Diana Shipping has entered into a time charter contract with Bohai Ocean Shipping for one of its newcastlemax vessels. The company hired the 2017-built, 208,021 dwt bulker Newport News. The gross charter rate is $25,000 per day, minus a 5% commission paid to third…

  • Solvang and BlackRock’s GIP form liquefied gas shipping firm

    Solvang and BlackRock’s GIP form liquefied gas shipping firm Norwegian gas shipowner Solvang and BlackRock’s Global Infrastructure Partners (GIP) have established a liquefied gas shipping joint venture. The new 50:50 joint venture will be named Solvang Gas Carriers. It will initially own Solvang’s fleet of 13 VLGCs designed to transport LPG and ammonia, and will…

  • Union Maritime launches financing scheme to spur wind propulsion use

    Union Maritime launches financing scheme to spur wind propulsion use UK shipowner Union Maritime has launched a new lease financing programme, which will help accelerate the adoption of wind-assisted propulsion systems in the maritime sector. The new programme, named SeaBreeze, offers 100% financing, making sustainable technologies more accessible for shipowners aiming to meet evolving emissions…

  • Capital Maritime adds to Korean boxship newbuild series

    Capital Maritime adds to Korean boxship newbuild series Greece’s Capital Maritime has firmed up a pair of 8,800 teu newbuildings in South Korea, lifting its recent containership orders to 20 ships worth nearly $1.6bn. Newbuilding brokers have named the Evangelos Marinakis-led company behind the two LNG dual-fuel units booked for construction at HD Hyundai Samho…

  • Fatigue among seafarers on the rise

    Fatigue among seafarers on the rise Work-related fatigue among cargo ship crews is growing worse, despite international regulations and onboard monitoring aimed at ensuring sufficient rest for seafarers, according to a new study from Cardiff University’s Seafarers International Research Centre (SIRC). The research, which draws on anonymous survey responses and interviews with over 2,400 maritime…

  • UN nuclear chief meets Greek shipping leaders to advance maritime nuclear propulsion

    UN nuclear chief meets Greek shipping leaders to advance maritime nuclear propulsion Rafael Mariano Grossi, director general of the International Atomic Energy Agency (IAEA), met with leading Greek shipowners on Thursday to explore the potential of nuclear-powered commercial vessels. The talks come as the UN agency launches ATLAS — Atomic Technology Licensed for Applications at…

  • Case made for ammonia in the wake of IMO’s Net Zero Framework

    Case made for ammonia in the wake of IMO’s Net Zero Framework A new study from the UCL Energy Institute’s Shipping and Oceans Research Group and UMAS, commissioned by the Global Maritime Forum, concludes that the International Maritime Organization’s recently agreed Net Zero Framework (NZF) sends a strong market signal favouring ammonia dual-fuel ships—particularly from…

  • SSY to launch offshore drilling rig business

    SSY to launch offshore drilling rig business UK shipbroking group SSY has revealed that it would be further expanding its offshore offering with the launch of a dedicated rig business later this year. Nicholas Wagner-Larsen, an experienced offshore and rig broker, will join SSY in September to head up the new rig division. He is…

  • Euroseas cashes in on 20-year-old post-panamax boxship

    Euroseas cashes in on 20-year-old post-panamax boxship Greek containership owner Euroseas is set to lock in a strong return by selling a 20-year-old post-panamax vessel acquired less than four years ago. The Nasdaq-listed company has offloaded the 2005 Koyo Dock-built 6,350 teu Marcos V to an undisclosed, unaffiliated buyer for $50m. Euroseas originally bought the…

  • Eni selling nearly half of its carbon capture business to BlackRock’s GIP

    Eni selling nearly half of its carbon capture business to BlackRock’s GIP Italian giant Eni has signed an agreement to enter into a period of exclusivity with BlackRock’s Global Infrastructure Partners (GIP) regarding the sale of a 49.99% stake in its carbon capture business. During the exclusivity period, GIP will progress the confirmatory due diligence…

  • Noble fixes rig on UK carbon storage project

    Noble fixes rig on UK carbon storage project Offshore rig owner Noble Corporation has secured work for its jackup Noble Innovator on the UK North Sea carbon storage project. The New York-listed Texas-headquartered driller has won a new contract from BP which will see the 2003-built ultra-harsh environment unit drill six firm wells for the…

  • ONE and Hapag-Lloyd line up more than 30 newbuild contracts

    ONE and Hapag-Lloyd line up more than 30 newbuild contracts Alphaliner is reporting that Ocean Network Express (ONE) and Hapag-Lloyd are close to finalising big orders in Asia as the record global container orderbook nears 10m teu. Singapore-based, Japanese-owned ONE is in discussions with HD Hyundai in South Korea for up to twelve 16,000 teu…

  • CMA CGM signs $600m Vietnam box terminal deal

    CMA CGM signs $600m Vietnam box terminal deal France’s CMA CGM has penned an agreement with Saigon Newport Corporation (SNP) to develop a new $600m deepwater terminal in Haiphong, northern Vietnam. The deal covers the design, construction, and operation of the Lach Huyen terminals 7 and 8, located in Lach Huyen area in Haiphong. The…

  • Boxport congestion spreads from Europe to the US and China

    Boxport congestion spreads from Europe to the US and China Port congestion seen across key Northern European hubs is intensifying and is now spreading to China and the US, a situation expected to worsen as a result of Donald Trump’s on/off tariff strategy.  Compounding the situation, low water levels on the Rhine are limiting barge…

  • Second officer charged with negligent navigation over last week’s high-profile grounding in Norway

    Second officer charged with negligent navigation over last week’s high-profile grounding in Norway A Ukrainian second officer aboard the container vessel NCL Salten has been charged with negligent navigation following a grounding incident early Thursday morning near Trondheim, Norway. The ship ran aground just meters from a summer home in Byneset, narrowly avoiding significant property…

  • Sedna expands with CompassAir buy

    Sedna expands with CompassAir buy UK-based technology firm Sedna has continued its expansion with the acquisition of Athens-based maritime workflow solutions provider, CompassAir. CompassAir, with a foothold in the Greek and Norwegian shipping sector, delivers expertise across the research, negotiation, and handover stages of the maritime trade lifecycle. The acquisition for an undisclosed sum will…

  • Norden helps lower Microsoft’s maritime supply chain emissions

    Norden helps lower Microsoft’s maritime supply chain emissions Danish shipping giant Norden is working on a pilot project with global technology company Microsoft to help reduce its maritime supply chain emissions The company said that the pilot project involves the use of Norden’s biofuel voyage and Book and Claim solution. Norden’s book and claim solution…

  • Cadeler buys Chinese-built wind turbine installation vessel

    Cadeler buys Chinese-built wind turbine installation vessel Copenhagen-headquartered offshore wind installation player Cadeler has bought a newly constructed jackup wind turbine installation vessel (WTIV) from Shanghai Boqiang Heavy Industry. The company acquired the 2024-built Boqiang 3060 vessel, set to be renamed Wind Keeper. The vessel is fitted with a Huisman main crane with a 2,200…

  • Subsea 7 hot streak continues with West Africa contract

    Subsea 7 hot streak continues with West Africa contract Offshore engineering and services player Subsea 7 has announced a third contract award in as many days, this time in West Africa. Under the contract, Subsea7 will be responsible for transporting and installing flexible pipelines, umbilicals, and associated subsea components for the connection of an FPSO…

  • Morek Engineering unveils floating wind installation vessel concept

    Morek Engineering unveils floating wind installation vessel concept A consortium led by Morek Engineering has unveiled its design concept for a new vessel class for the floating offshore wind (FLOW) market, having completed the first feasibility stage. Consortium partners include naval architects Solis Marine Engineering, innovation specialists Tope Ocean, marine operations specialists First Marine Solutions,…

  • UK slaps sanctions on British ship finance veteran over shadow fleet deals

    UK slaps sanctions on British ship finance veteran over shadow fleet deals The UK has imposed sanctions on a British ship finance veteran for allegedly buying tankers for Russia’s shadow fleet. John Ormerod was blacklisted on Tuesday alongside two Russian captains, 18 shadow fleet vessels and 46 financial institutions in the latest wave of British…

  • MAN Energy Solutions reveals world’s most powerful methanol engine

    MAN Energy Solutions reveals world’s most powerful methanol engine Ship engine manufacturer MAN Energy Solutions has developed the world’s most powerful two-stroke methanol engine. The engine, rated at 82,440kW at 80rpm, is currently being built by Chinese licensee CSSC-MES Diesel. This will be the first engine of 12 bound for a series of a dozen…

  • Petrobras pens EPCI deal with Subsea 7 worth nearly $1.5bn

    Petrobras pens EPCI deal with Subsea 7 worth nearly $1.5bn Brazilian oil and gas major Petrobras has signed an engineering, production, construction, and installation (EPCI) contract with Subsea 7 for the Búzios 11 Project, worth R$8.4bn ($1.48bn) The contract establishes a minimum requirement of 40% local content, but the expectation is to reach a percentage…

  • Norway opens bidding for 1.5GW of floating wind

    Norway opens bidding for 1.5GW of floating wind The Norwegian Ministry of Energy is calling for applications to its tender for three floating offshore wind project areas at Utsira Nord. Each project area may have an installed capacity of up to 500MW of floating offshore wind. Interested parties must submit applications by September 15. According…

  • Denmark sets up offshore wind tender with up to $8.3bn in subsidies

    Denmark sets up offshore wind tender with up to $8.3bn in subsidies The Danish government has revealed it would launch a 3GW offshore wind tender this autumn. The country also decided to support developers with two-sided contracts for difference after last year’s tender attracted no bids. The three tenders cover two areas in the Danish…

  • Martin Sato returns as CEO at Lauritzen Bulkers

    Martin Sato returns as CEO at Lauritzen Bulkers Denmark’s Lauritzen Bulkers has appointed Martin Sato as its new chief executive. Sato, who previously spent 18 years at J. Lauritzen’s dry bulk business, will join the Copenhagen-based shipowner and operator by December from fellow handysize bulker player BaltNav, where he has served as CEO since 2024.…

  • MSC invests in Ukrainian inland logistics

    MSC invests in Ukrainian inland logistics Swiss-based Medlog, a growing inland cargo business of the world’s largest liner, Mediterranean Shipping Co (MSC), has made its entry into Ukrainian logistics. Local media report Medlog has bought 50% of the Ukrainian intermodal logistics operator N’UNIT (New Ukrainian Network of Intermodal Terminals) and a 25% stake in the…

  • Norden signs iron ore port logistics deal in Australia

    Norden signs iron ore port logistics deal in Australia Danish shipping giant Norden has signed its first port logistics project in Australia with Kimberley Metals Group (KMG), a developer and operator of iron ore mining projects. Norden will provide additional assets for the existing transhipment operation, loading iron ore from the port of Wyndham in…

  • Taizhou Hailian emerges behind Norden-bound MPP newbuilds

    Taizhou Hailian emerges behind Norden-bound MPP newbuilds China’s Taizhou Hailian Shipping has emerged behind multipurpose newbuildings that are backed by charters with Norden’s project cargo division. Splash reported last week that the Danish shipping giant would be adding two more 17,500 dwt MPPs as part of the four-ship newbuild move initiated earlier this year. The…

  • CMB.TECH linked to tanker newbuilds in China

    CMB.TECH linked to tanker newbuilds in China Antwerp-based owner and operator CMB.TECH has been tied to a newbuilding deal in China for up to five tankers. The Saverys family-led group has reportedly returned to Qingdao Beihai Shipyard for one VLCC and two firm plus two optional suezmaxes. Brokers estimate the VLCC newbuild at around $135m,…

  • How to profit from FuelEU Maritime

    How to profit from FuelEU Maritime As the FuelEU Maritime regulation enters into force, the shipping industry may be looking at a surprising upside. Instead of acting solely as a cost driver, the regulation could create a net financial gain, potentially around €250m ($280m), according to a recent analysis by maritime data and compliance firm…

  • Denmark first to launch remote pilotage

    Denmark first to launch remote pilotage With approval from the Danish Emergency Management Agency, DanPilot and Danelec are now initiating a test program for remote pilotage – the first of its kind in the world.  The test program created by DanPilot and Danelec allows pilots to guide ships from land, using only advanced data transmitted…

  • Star Bulk clears out five ageing supramaxes

    Star Bulk clears out five ageing supramaxes Nasdaq-listed Greek dry bulk giant Star Bulk Carriers has confirmed sales of five older supramax vessels. The Athens-based company revealed in its first-quarter earnings report it had sold the 2005-built Star Omicron and the 2006-built Strange Attractor. Both ships have already been delivered and renamed Fu Chang and…

  • Fednav’s Paul Pathy takes over at BIMCO

    Fednav’s Paul Pathy takes over at BIMCO The world’s largest shipping association, BIMCO, has elected its first president from the Americas. Paul Pathy, president and chief executive of Canada’s largest dry bulk shipping company, Fednav, is taking over from Nikolaus Schües, CEO of German owner F. Laeisz, who is finishing his two-year term. “I am…

  • Norden exercises option for two more MPPs

    Norden exercises option for two more MPPs Danish shipping giant Norden has decided to increase its multi-purpose (MPP) fleet by signing newbuilding leases with purchase options for two vessels. These two vessels are options to the recently signed deals for two identical vessels set to deliver in 2026. This latest pair of 17,500 dwt vessels…

  • EU sanctions target nearly 200 Russia-linked ships

    EU sanctions target nearly 200 Russia-linked ships European Union countries have agreed to impose a new raft of sanctions against Russia, including those targeting nearly 200 ships in the so-called shadow fleet used to circumvent restrictions on oil and gas exports. The new round of sanctions, set to be adopted next week, comes as Moscow…

  • Minerva buys another modern boxship

    Minerva buys another modern boxship Greek owner Minerva has bought the three-year-old, 1,781 teu Mindoro boxship from Germany’s Briese Schiffahrt for $31.5m. The sale makes a tidy profit for the German owner, who ordered the ship in 2021 for $26m, according to data from Alphaliner. The ship has been renamed Little Symphony and it remains…

  • Equinor extends stay for Simon Møkster ERRV trio

    Equinor extends stay for Simon Møkster ERRV trio Norwegian energy major Equinor has exercised the first extension option for three Simon Møkster Shipping’s emergency response and rescue vessels. The vessels in question are the 2003-built Stril Poseidon, the 2011-built Stril Merkur, and the 2008-built Stril Herkules. The vessels will continue their services on the Norwegian…

  • Greta Thunberg-led activists storm Maersk Tankers Copenhagen office

    Greta Thunberg-led activists storm Maersk Tankers Copenhagen office Over 50 activists from the Green Youth Movement (Den Grønne Ungdomsbevægelse) have broken into the Copenhagen office of Maersk Tankers. The activists claim that the action is part of a larger series of actions over the next 10 days that will focus on the alleged role of…

  • Russia readies billions for domestic fleet buildout

    Russia readies billions for domestic fleet buildout Russia is stepping up the development and renewal of its fleet with plans to add more than 1,600 domestically built ships by 2036. Russian prime minister Mikhail Mishustin said that more than RUB500bn ($6.2bn) in federal funding will be spent over the next six years to support shipbuilders,…

  • 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…

  • 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…

  • 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…

  • 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…

  • 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…

  • 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…

  • 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…

  • 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…

  • 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”. …

  • 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…