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Tag: splash24x7

  • Pacific Basin shifting half of bulker fleet to Singapore to limit US port fee exposure

    Pacific Basin shifting half of bulker fleet to Singapore to limit US port fee exposure Hong Kong-listed Pacific Basin Shipping is moving half of its bulker fleet to Singapore and reflagging vessels under its Singapore entity to reduce exposure to new US port fees introduced under the USTR Section 301 scheme. The move comes after…

  • Lloyd’s Register issues first roadmap for nuclear-powered shipping

    Lloyd’s Register issues first roadmap for nuclear-powered shipping British class society Lloyd’s Register (LR) has published new guidance on the use of nuclear energy in commercial shipping, offering what it calls the first comprehensive roadmap for the safe and responsible integration of nuclear power into the maritime sector. The document, Navigating Nuclear Energy in Maritime,…

  • Danica flags rise in falsified records in tanker crew CVs amid wage surge

    Danica flags rise in falsified records in tanker crew CVs amid wage surge Internal screening by crewing specialists Danica has revealed that between 5% and 10% of job applications for tanker vessels contain false information, due to a strong demand for experienced crew pushing wages upwards. According to the company, the discrepancies range from exaggerated…

  • Baltic Exchange charts new routes for Canadian crude trade

    Baltic Exchange charts new routes for Canadian crude trade The Baltic Exchange has expanded its tanker benchmark portfolio with two new aframax routes reflecting the rise of Canadian crude exports to Asia and growing geopolitical uncertainty in global oil trade. The new assessments — TD28, which tracks voyages from Vancouver to Ningbo, China, and TD29,…

  • Marinakis in for Hengli VLCC

    Marinakis in for Hengli VLCC Greek shipowner Evangelos Marinakis is expanding his VLCC newbuilding programme, signing a contract for a 306,000 dwt supertanker at China’s Hengli Heavy Industries. The deal, valued by shipbuilding sources at around $118m, aligns with similar VLCC deals struck by owners John Fredriksen and George Procopiou at the Dalian-based yard, with…

  • Panamax boxship hit with $1.7m Shanghai fee as China’s new port levies bite

    Panamax boxship hit with $1.7m Shanghai fee as China’s new port levies bite $1.7m. That’s the fee – or RMB12.1m – that the German owners of the US-flagged Matson Waikiki are being forced to pay to allow the vessel to dock in Shanghai, a sizeable sum, and an indication of the chaos, and costs, that…

  • Sogestran orders two new bunker tankers in China

    Sogestran orders two new bunker tankers in China France’s Sogestran Group is upgrading its bunker tanker fleet with an order for two new vessels at China Merchants Industry Yangzhou Dingheng Shipyard. The deal, which extends a long-standing partnership between its subsidiary Maritima with Petroineos in southern France, covers 4,500 cu m newbuilds set to replace…

  • Shandong Ocean Shipping bets on capesize segment with two Hengli newbuilds

    Shandong Ocean Shipping bets on capesize segment with two Hengli newbuilds China’s Shandong Ocean Shipping Group is expanding into the capesize bulker segment with a pair of newbuildings. The maritime logistics arm of Shandong Port Group has returned to Hengli Shipbuilding for the 181,000 dwt vessels as part of a strategic push to strengthen its…

  • IMO’s green dream meets America’s red line

    IMO’s green dream meets America’s red line While the majority of opening statements at yesterday’s opening of the latest Marine Environment Protection Committee (MEPC) were broadly in favour of the International Maritime Organization’s (IMO) Net-Zero Framework (NZF), the US delegation stood out once again for its outspoken opposition to the proposed green legislation. The American…

  • Grieg Maritime winds down ship recycling arm

    Grieg Maritime winds down ship recycling arm Norway’s Grieg Green, the ship recycling and ESG advisory arm of Grieg Maritime Group, is closing down after 15 years of operation, citing tough market conditions and rising competition that make it difficult for premium service providers to stay viable. The Bergen-based company said the decision, effective immediately,…

  • Petrobras hires two more DOF vessels

    Petrobras hires two more DOF vessels Norwegian offshore vessel owner DOF has won two long-term contracts in Brazil with state-owned oil firm Petrobras. Petrobras hired the 2005-built Skandi Chieftain and the 2009-built Skandi Olympia on a four-year contract. The two contracts have a combined value of approximately $200m. Both vessels will operate with one work-class…

  • NYK seals CTV newbuild deal for domestic offshore wind project

    NYK seals CTV newbuild deal for domestic offshore wind project Japan’s Nippon Yusen Kaisha (NYK) has signed a long-term charter deal with Oga Katagami Akita Offshore Green Energy for a domestically built crew transfer vessel (CTV) that will serve the country’s first offshore wind farm developed in general sea areas. The vessel will be built…

  • CMA CGM turns to India for six feeder newbuilds

    CMA CGM turns to India for six feeder newbuilds France’s CMA CGM has signed a letter of intent with Cochin Shipyard Ltd (CSL) to build six LNG-powered feeder containerships, marking the first-ever order by a global liner operator at an Indian yard. The 1,700 teu vessels are valued at around $300m in total. A formal…

  • SMM: Shipping gears up for AI and efficiency push

    SMM: Shipping gears up for AI and efficiency push Global shipowners, yards, and suppliers are gearing up for a new investment cycle focused on fleet efficiency, artificial intelligence, and sustainability, according to the latest SMM Maritime Industry Report (MIR) released ahead of next year’s shipping exhibition in Hamburg. The survey, conducted by Hamburg Messe und…

  • Valaris lands $140m drillship deal with BP

    Valaris lands $140m drillship deal with BP New York-listed offshore driller Valaris has won a contract for one of its drillships from a subsidiary of supermajor BP. The contract for the 2014-built Valaris DS-12 is for five wells with BP Exploration Delta Limited in Egypt. The deal is expected to commence in the second quarter…

  • Oldendorff and Salzgitter target 20% emission cut in iron ore shipments

    Oldendorff and Salzgitter target 20% emission cut in iron ore shipments German shipowner Oldendorff Carriers and fellow steelmaker Salzgitter have signed a long-term deal to lower carbon emissions from the seaborne transport of iron ore to Hamburg. Starting in January 2026, Oldendorff will deploy fuel-efficient bulk carriers to move iron ore from various loading ports…

  • MPC Container Ships keeps renewal momentum with newbuilds at Fujian Mawei

    MPC Container Ships keeps renewal momentum with newbuilds at Fujian Mawei Oslo-listed tonnage provider MPC Container Ships (MPCC) has pressed ahead with its fleet renewal programme, ordering two 1,600 teu containerships from Fujian Mawei Shipyard in China. The vessels, designed for Northern European feeder trades, are due for delivery in the second half of 2027…

  • Maersk launches onboard trials of methanol and ethanol mix

    Maersk launches onboard trials of methanol and ethanol mix Danish shipping giant Maersk has started onboard fuel trials of a methanol-ethanol blend as part of its efforts to explore alternative fuel use for decarbonising global shipping. The company’s 2,100 teu methanol-fuelled containership Laura Maersk, which became the world’s first container vessel to operate on green…

  • Trump administration threatens sanctions over IMO climate vote

    Trump administration threatens sanctions over IMO climate vote The Trump administration’s weaponisation of trade and shipping reached a new level on Friday, with Washington threatening to sanction nations that vote in favour of the International Maritime Organization’s (IMO) upcoming Net Zero Framework (NZF) — a global plan to cut shipping’s greenhouse gas emissions. In a…

  • Court clears ICTSI to run Durban terminal after Maersk challenge fails

    Court clears ICTSI to run Durban terminal after Maersk challenge fails A South African court has dismissed a legal challenge by AP Moller-Maersk’s terminal arm against the award of a key port concession to International Container Terminal Services Inc (ICTSI), paving the way for the Filipino operator to take control of Durban Container Terminal (DCT)…

  • Ofer-backed XT Shipping returns to yards with Chinese newbuild deal

    Ofer-backed XT Shipping returns to yards with Chinese newbuild deal Israel’s XT Shipping has returned to the newbuilding market with a pair of containerships in China. The maritime arm of Idan Ofer and Udi Angel’s XT Group has contracted 3,160 teu scrubber-fitted units at China Merchants Industry (CMI) Weihai Shipyard. The vessels, with price tag…

  • Carbon costs hit shipping balance sheets as $50bn era looms

    Carbon costs hit shipping balance sheets as $50bn era looms Carbon pricing in shipping is no longer an abstract regulatory concept — it’s a growing commercial cost that is reshaping balance sheets across the maritime value chain. In 2025, emissions trading under the EU ETS alone is expected to add more than $6bn in costs…

  • Purus joins LNG bunker rush with Shell-backed newbuild pair

    Purus joins LNG bunker rush with Shell-backed newbuild pair Purus Marine has ordered two LNG bunker vessels in China, marking its entry into the rapidly expanding market. The Singapore-based outfit, with over 70 ships across clean energy and offshore segments, will see the 18,900 cu m dual-fuel newbuilds constructed at Nantong CIMC Sinopacific Offshore &…

  • Minerva ups the ante in boxship market with fresh newbuild series

    Minerva ups the ante in boxship market with fresh newbuild series Greek owner Minerva Dry is stepping deeper into the container sector, ordering a new series of 3,000 teu ships in China — its largest boxships to date. Shipbuilding sources said Andreas Martinos-led Minerva Dry has inked a deal with Penglai Zhongbai Jinglu Ship Industry…

  • DP World seals 10-year extension with Hapag-Lloyd at Santos

    DP World seals 10-year extension with Hapag-Lloyd at Santos Dubai-based ports and logistics player DP World has renewed its partnership with German liner Hapag-Lloyd for another decade, extending the long-running agreement between the two companies at the Port of Santos, Brazil’s largest container hub. The new contract secures continued cooperation that began in 2014, ensuring Hapag-Lloyd’s…

  • ExxonMobil steps into LNG bunkering with Avenir and Evalend newbuilds

    ExxonMobil steps into LNG bunkering with Avenir and Evalend newbuilds ExxonMobil has moved to enter the LNG marine bunkering market with two purpose-built vessels, as it looks to expand its portfolio of lower-emission marine fuels. The US energy major will begin operations in 2027, deploying two LNG bunker ships — one chartered from Avenir LNG…

  • US hits Iranian energy export network and Chinese import hub in sweeping sanctions move

    US hits Iranian energy export network and Chinese import hub in sweeping sanctions move The US has imposed sweeping sanctions on a vast network tied to Iran’s oil and gas exports, blacklisting more than 50 individuals and entities and identifying more than 30 vessels linked to shipments of sanctioned crude and LPG — including one…

  • Sanctions list swells, momentum fades

    Sanctions list swells, momentum fades Over the past five years, the number of sanctioned vessels has expanded steadily, rising from around 350 in September 2020 to roughly 1,700 by September 2025, according to analysis from maritime analytics firm Kpler. The overlap between various administrations sanctioning ships is also finally starting to grow with greater coordination…

  • ESL Shipping sells handysize bulker to support fleet renewal

    ESL Shipping sells handysize bulker to support fleet renewal ESL Shipping, part of Finnish conglomerate Aspo, has sold the 21,353 dwt handysize bulker Kallio to the Qrill Company. The company stated that divesting the 2006-built vessel would help to speed up the green transition of ESL Shipping and strengthen the financing of the new vessels…

  • Europe’s top ports gridlocked by strikes

    Europe’s top ports gridlocked by strikes Container operations at Europe’s largest port, Rotterdam, have come to a standstill as lashers began a 48-hour strike on Wednesday afternoon to demand higher wages, while harbour pilots’ protests in neighbouring Antwerp-Bruges continue to disrupt marine traffic. Dutch union FNV said workers at International Lashing Services and Matrans Marine…

  • Industry splits ahead of historic IMO vote on Net Zero Framework

    Industry splits ahead of historic IMO vote on Net Zero Framework As the IMO prepares to decide shipping’s most consequential climate measure in decades, a rare show of unity from leading shipowner associations faces opposition from the likes of John Fredriksen, Greek giants, leading class societies and Washington. With days to go before the International…

  • NAPA: Integration is shipping’s new superpower

    NAPA: Integration is shipping’s new superpower Shipping’s decarbonisation drive won’t be defined by one big breakthrough, according to Mikko Kuosa, CEO of Finland-based software company NAPA. Instead, the focus is shifting to combining proven technologies and tailoring solutions to fit specific vessel types and trades. “There will not be a single silver-bullet solution,” Kuosa tells…

  • Alternative lender Hudson Structured raises $719m for ship finance

    Alternative lender Hudson Structured raises $719m for ship finance US alternative financier Hudson Structured Capital Management (HSCM) has raised $719m for its latest shipping vehicle, marking the Connecticut-based firm’s largest maritime fund to date. The new fund, Hudson Northern Shipping Fund V (HNSF V), exceeded its $700m target, underscoring continued investor appetite for ship finance…

  • British university sets out to turn seawater into ship fuel

    British university sets out to turn seawater into ship fuel London’s Brunel University is teaming up with startup Genuine H2 to pilot a system that splits seawater into hydrogen onboard ships. The concept is to feed seawater through electrolyzers, extract pure hydrogen, store it on ship, then use it as a clean-burning fuel. Brunel’s project…

  • MOL’s 98% methane slip cut hands LNG a lifeline ahead of key IMO showdown

    MOL’s 98% methane slip cut hands LNG a lifeline ahead of key IMO showdown Japan’s Mitsui OSK Lines (MOL) has achieved a 98% reduction in methane slip during sea trials — a leap that could reshape the emissions profile of LNG-fuelled tonnage ahead of next week’s Marine Environment Protection Committee meeting at the International Maritime…

  • USTR fees could impact 35% of key sectors’ ships: BIMCO

    USTR fees could impact 35% of key sectors’ ships: BIMCO When fees from the Office of the United States Trade Representative (USTR) targeting Chinese dominance of the maritime sector come into effect next week on October 14, 35% of ships in the combined bulk, crude tanker, product tanker and container fleet could be subject to…

  • Dynacom snaps up four Hengli VLCC resales

    Dynacom snaps up four Hengli VLCC resales Greek shipowner Dynacom Tankers is expanding its vast crude carrier programme with a fresh quartet of VLCC newbuildings at China’s Hengli Heavy Industries, adding to the two it contracted last year. Shipbuilding sources said the 306,000 dwt vessels are part of a series originally ordered by Hengli Group…

  • HMM tied to $2.2bn boxship orders

    HMM tied to $2.2bn boxship orders Broking reports list a sizeable order from South Korea’s flagship carrier worth more than $2bn in total.  HMM is reported to have ordered 12 LNG dual-fuelled, 14,000 teu containerships on home soil. The vessels, thought to be costing around $182.5m per unit are split between two of the country’s…

  • Orca AI: Artificial intelligence moves from buzzword to bridge

    Orca AI: Artificial intelligence moves from buzzword to bridge Artificial intelligence in shipping has long been a buzzword. Now, says Yarden Gross, CEO and co-founder of Orca AI, it’s fast becoming the bridge linking sea and shore — and the next 12 months could be the most pivotal yet. Gross tells Maritime CEO that shipping…

  • Molgas takes full control of Titan Clean Fuels

    Molgas takes full control of Titan Clean Fuels Molgas Energy Group has completed the full acquisition of Amsterdam-based Titan Energy Holding, parent company of Titan Clean Fuels, creating one of Europe’s largest integrated downstream LNG and bio-LNG players. The Madrid-headquartered company, backed by infrastructure investor InfraVia, said the transaction marks a key step in its…

  • Aurora Offshore scores Harbour Energy PSV fixture

    Aurora Offshore scores Harbour Energy PSV fixture Borealis Maritime’s offshore vessel arm, Aurora Offshore, has secured long-term employment for one of its platform supply vessels. Brokers report the 2021-built Aurora Cooper fixed to Harbour Energy for six months plus multiple extension options, with the charter starting this month. Dayrates for the LNG dual-fuel battery hybrid…

  • Denmark tightens checks on shadow fleet

    Denmark tightens checks on shadow fleet The Danish government yesterday announced it is tightening environmental and safety inspections of oil tankers—especially older, high-risk ships—passing through its waters or anchoring at Skagen Red, a key anchorage at the gateway between the Baltic and North Seas. Environment minister Magnus Heunicke said older vessels pose particular threats to…

  • Carriers blank sailings at pandemic pace to prop up rates

    Carriers blank sailings at pandemic pace to prop up rates Containerlines are scrapping sailings at a pace not seen since the height of the pandemic, as tariff turbulence and weak US demand ripple through global supply chains. Carrier operating margins have dropped below breakeven on several key routes, with carriers still prioritising market share over…

  • Qatar peels back navigation ban

    Qatar peels back navigation ban Doha has just softened its maritime blackout. After a full suspension on October 4 due to GPS disruptions, Qatar’s Ministry of Transport partially lifted the freeze late yesterday. Daytime navigation is now allowed, though nighttime restrictions remain for smaller, non-merchant vessels. The move comes amid warnings that the GPS “technical…

  • Qatar orders all ships to stop due to GPS ‘technical fault’

    Qatar orders all ships to stop due to GPS ‘technical fault’ Doha has pulled the plug on navigation with the Qatari Ministry of Transport on Saturday, ordering all vessels to halt navigation in its waters, citing a “technical fault in the GPS” that’s disrupted routes. The move comes amid a regional spike in GPS jamming…

  • US unveils payment rules for new China vessel fees

    US unveils payment rules for new China vessel fees US Customs provided over the weekend more details about the upcoming hiked port fees for Chinese-linked tonnage, due to come into effect next week. The notice makes clear: the burden for determining liability lies squarely with the vessel operator, not US Customs. Vessels failing to show…

  • ICTSI locks in Subic Bay terminals extension with $130m upgrade plan

    ICTSI locks in Subic Bay terminals extension with $130m upgrade plan Manila-headquartered International Container Terminal Services Inc (ICTSI) has secured a 25-year extension for its concession agreements to operate Subic Bay’s two container terminals, NCT-1 and NCT-2. The deal, signed with the Subic Bay Metropolitan Authority (SBMA), allows ICTSI’s subsidiaries, Subic Bay International Terminals Corp…

  • Capital Offshore and United Offshore Support combine OSV fleets under new JV

    Capital Offshore and United Offshore Support combine OSV fleets under new JV Greek OSV owner Capital Offshore has acquired 50% of shares in German OSV management specialist United Offshore Support (UOS) from Hayfin Capital Management. Completion of the transaction is subject to regulatory approvals. Upon closing, the company will operate under the new name UOS…

  • Gaza truce talks test Houthi resolve

    Gaza truce talks test Houthi resolve A tentative ceasefire between Israel and Hamas may not just reverberate across Gaza — it could upend the maritime battleground in the Red Sea, where Yemen’s Houthi rebels have turned merchant shipping into target practice. The Houthis have long justified their strikes on commercial vessels as solidarity with Palestinians…

  • Getting practical on Li-ion fire safety at sea

    Getting practical on Li-ion fire safety at sea Simon Hodgkinson, global head of loss prevention at West P&I, writes for Splash today on one of the greatest sources of casualties at sea in recent years. Lithium-ion (Li-ion) batteries are now routine in shipping. They move as containerised cargo, sit inside vehicles on RoRo decks, and…

  • Total lack of safety culture laid bare in Wakashio disaster

    Total lack of safety culture laid bare in Wakashio disaster Mauritius has finally published the long-suppressed Court of Investigation report into the 2020 grounding of the Wakashio. The findings are damning — exposing what investigators call a “total lack of safety culture on board the Wakashio,” a disaster born from distraction, negligence, and systemic oversight…

  • Finnish court drops Baltic subsea cable case against Eagle S crew

    Finnish court drops Baltic subsea cable case against Eagle S crew A Finnish district court has dismissed charges against the captain and two officers of the Eagle S tanker, ruling that Finland has no jurisdiction to prosecute over the damage of critical subsea infrastructure in the Baltic Sea last year. The case, seen as a…

  • Shadow tanker accused of being Europe’s drone mothership

    Shadow tanker accused of being Europe’s drone mothership The Boracay, an 18-year-old Russian-linked tanker seized by French commandos off Brest this week, has been placed at the scene of up to nine drone incidents across northern Europe, according to a Daily Telegraph analysis of AIS tracking. The newspaper reports the vessel was within striking distance…

  • World’s first hydrogen-powered bulk carriers to feature Swedish fuel cells

    World’s first hydrogen-powered bulk carriers to feature Swedish fuel cells PowerCell, a Swedish supplier of fuel cells for the marine market, has secured a contract worth just over SEK40m ($4.25m) to supply the fuel cell systems for two hydrogen-powered bulk carriers. The order includes 14 of PowerCell’s Marine System 225 units, providing over 3 MW…

  • The great LNG scam: the IMO’s climate credibility is on the line

    The great LNG scam: the IMO’s climate credibility is on the line Elissama Menezes and Andrew Dumbrille, directors of Equal Routes, write for Splash ahead of this month’s crunch green vote at the International Maritime Organization. In the face of the upcoming International Maritime Organization. (IMO) Net-Zero Framework vote next month, we’re seeing a lot…

  • Boluda buys Boskalis towage arm in Australia and Papua New Guinea for $640m

    Boluda buys Boskalis towage arm in Australia and Papua New Guinea for $640m Spanish towage giant Boluda has struck a $640m deal to acquire Royal Boskalis’ harbour towage and salvage business in Australia and Papua New Guinea, cementing its position as the world’s largest operator in the sector. The takeover hands Boluda operations at key…

  • DEME clinches German offshore wind cable installation deal

    DEME clinches German offshore wind cable installation deal Belgium’s DEME Offshore has landed a contract worth between €50m and €150m ($54m–$162m) for subsea cable work at the Nordseecluster B offshore wind project in the German North Sea. The deal covers transport and installation of 124 km of inter-array cables, linking 60 turbine foundations to the…

  • DOF nets $60m North America contract haul

    DOF nets $60m North America contract haul Norwegian offshore vessel owner and services player DOF Group has picked up a string of new contracts in North America worth more than $60m, securing over 300 vessel days with further options attached. The work will be carried out by vessels already positioned in the region, covering subsea,…

  • Nova Marine Carriers breaks into New Zealand market with MPP newbuild

    Nova Marine Carriers breaks into New Zealand market with MPP newbuild Lugano-based Nova Marine Carriers has teamed up with New Zealand’s McCallum Bros in a 50/50 joint venture that will replace the ageing multipurpose vessel (MPP) on the supply run to the Chatham Islands. The MBL/Nova Marine partnership won the government tender with a proposal…

  • Shipping arbitration landscape shifts beyond London

    Shipping arbitration landscape shifts beyond London London has maintained its position as the world’s top maritime arbitration hub, although new data from HFW shows Asia’s centres are closing the gap. The law firm’s sixth Maritime Arbitration in Numbers report analysed responses from 19 arbitral bodies across 18 jurisdictions. It found that while London remains dominant,…

  • Bahri orders six ultramaxes at IMI

    Bahri orders six ultramaxes at IMI Saudi shipowner Bahri has firmed up an order for six geared ultramax bulk carriers at International Maritime Industries (IMI), marking the first bulk carrier newbuilding deal for the Ras Al-Khair yard. The company said in a Tadawul filing that the 62,823 dwt vessels will cost around $203m in total,…

  • Capital Maritime emerges behind HD Hyundai Mipo feeder orders

    Capital Maritime emerges behind HD Hyundai Mipo feeder orders Evangelos Marinakis-led Capital Maritime Group has been linked to the latest round of feeder containership contracts at HD Hyundai Mipo Dockyard in South Korea. Shipbuilding sources said the Greek owner is behind orders for two 2,800 teu units priced at around $56.9m each and one 1,800…

  • CMT adds pair of newcastlemax orders at Qingdao Beihai

    CMT adds pair of newcastlemax orders at Qingdao Beihai Taiwan’s Chinese Maritime Transport (CMT) has returned to China State Shipbuilding Corporation’s Qingdao Beihai yard with an order for two newcastlemax bulk carriers. The Taipei-listed owner confirmed it will pay between $76m and $79.8m per 210,000 dwt vessel. Deliveries have not yet been disclosed. The order…

  • Genco adopts poison pill to limit hostile takeovers

    Genco adopts poison pill to limit hostile takeovers US-based dry bulk owner Genco Shipping & Trading has adopted a limited-duration shareholder rights plan designed to prevent a takeover of the company. The rights plan is effective immediately and has a one-year duration expiring on September 30, 2026. Pursuant to the plan, Genco will issue one right…

  • German owners line up MPP newbuild series in China

    German owners line up MPP newbuild series in China Germany’s HS Shipping Group (HS Schiffahrt) has teamed up with shipping financier Mare Trust for a major push into the multipurpose heavylift segment, securing newbuildings at Jiangsu Soho Marine Heavy Industry in China. The partners confirmed firm orders for four 12,500 dwt vessels, with deliveries scheduled…

  • Jinhui returns to newbuild market with $99m ultramax trio

    Jinhui returns to newbuild market with $99m ultramax trio Jinhui Shipping and Transportation has booked three new ultramax bulk carriers at a Chinese yard, marking its latest step in a fleet renewal drive. The Oslo-listed owner has committed $99.15m at Jiangmen Nanyang Ship Engineering for 64,500 dwt vessels due for delivery in the first quarter…

  • Seanergy and United Maritime cash in on vintage capes

    Seanergy and United Maritime cash in on vintage capes Greek bulker owners Seanergy Maritime and United Maritime have completed sales of aging capesize vessels, banking profits and cutting fleet exposure to older tonnage. Seanergy confirmed the sale of the 2010-built Geniuship to an undisclosed buyer for $21.6m. The 170,057 dwt vessel, acquired in 2015, was…

  • Danaos lifts orderbook and seals $304m in charters

    Danaos lifts orderbook and seals $304m in charters Greek containership owner Danaos has confirmed boosting its orderbook with two more 7,165 teu vessels and locked in $304m of fresh charter income. The Nasdaq-listed company said about $164m stems from forward fixtures on four existing ships, with another $140m tied to the newbuildings, each covered by…

  • Diana Shipping doubles down on Genco stake with $103m outlay

    Diana Shipping doubles down on Genco stake with $103m outlay Greek dry bulk owner Diana Shipping has lifted its holding in New York-listed peer Genco Shipping & Trading to nearly 15%, becoming the company’s largest known shareholder. Regulatory filings show the Semiramis Paliou-led owner spent about $103.5m between late April and the end of September…

  • Allseas and DOF awarded contracts for $125m Singapore crude transfer revamp

    Allseas and DOF awarded contracts for $125m Singapore crude transfer revamp Swiss contractor Allseas and Norway’s DOF have clinched contracts from Aster Chemicals & Energy to renew the single buoy mooring (SBM) and subsea pipeline system serving Bukom Island, Singapore. The scope includes engineering, installation and commissioning of new infrastructure linking the offshore facility —…

  • Costamare and Cargill set course for joint dry bulk ventures

    Costamare and Cargill set course for joint dry bulk ventures Costamare Bulkers has signed a wide-ranging cooperation agreement with Cargill, shifting focus toward steadier earnings while deepening ties with one of the dry bulk sector’s largest charterers. The New York-listed Greek owner said the deal includes transferring to Cargill most of its trading book, covering…

  • Advantage Tankers firms fresh VLCC and suezmax orders in South Korea

    Advantage Tankers firms fresh VLCC and suezmax orders in South Korea Geneva-based Advantage Tankers has stepped up its move into the large tanker segment with fresh orders in South Korea, adding one very large crude carrier (VLCC) and two suezmaxes to its books. Industry sources said the Tugrul Tokgoz-led outfit has exercised an option for…

  • Scorpio Tankers banks $122m from LR2 sales

    Scorpio Tankers banks $122m from LR2 sales Scorpio Tankers has agreed to sell two 2019-built LR2 product tankers, taking advantage of firm secondhand prices to strengthen its balance sheet. The New York-listed owner said the scrubber-fitted STI Lobelia and STI Lavender were sold for $61.2m each. Deliveries to the new owners are scheduled for the…

  • Carsten Rehder inks $62m MPP order in India

    Carsten Rehder inks $62m MPP order in India German owner Carsten Rehder Schiffsmakler und Reederei has expanded its methanol-ready multipurpose newbuilding programme in India, contracting four firm units with options for two more at Garden Reach Shipbuilders & Engineers (GRSE). The deal will see the Hamburg-based company pay $62.4m to the Kolkata yard, with deliveries…

  • Solstad secures DeepOcean CSV extension

    Solstad secures DeepOcean CSV extension Norwegian offshore vessel owner Solstad Maritime has landed a fresh contract extension with subsea services player DeepOcean for the construction support vessel (CSV) Normand Ocean. The Oslo-listed company said the new deal will run for 12 months starting January 2026, continuing directly from the vessel’s current charter. The 2014-built CSV…

  • 2020 Bulkers cuts feet in half with $209m newcastlemax sale

    2020 Bulkers cuts feet in half with $209m newcastlemax sale Norwegian shipowner 2020 Bulkers has agreed to sell three of its scrubber-fitted newcastlemax vessels for a combined $209m. The Oslo-listed company confirmed the sale of the 2019-built Bulk Sandefjord and Bulk Santiago, along with the 2020-built Bulk Shenzhen, to an unnamed third party. All three…

  • Nanjing Tanker extends fleet renewal with Dalian brace

    Nanjing Tanker extends fleet renewal with Dalian brace China’s Nanjing Tanker has strengthened its newbuilding programme with an order for two LR1 panamax crude/product carriers. The Shanghai-listed owner, part of China Merchants Group, has contracted the 65,000 dwt units at Dalian Shipbuilding Industry Corporation. The deal is valued at around $137m, with delivery set for…

  • Petter Mowinckel steps up to lead Kristian Gerhard Jebsen Skipsrederi

    Petter Mowinckel steps up to lead Kristian Gerhard Jebsen Skipsrederi Norwegian shipowner Kristian Gerhard Jebsen Skipsrederi (KGJS) has appointed Petter Mowinckel as chief executive officer, effective 1 October 2025. Mowinckel, who joined the Bergen-based company in August 2024 as chief commercial officer, succeeds Ørjan Lunde. Lunde stepped down earlier this year and has since rejoined…

  • KNOT Offshore Partners bags Equinor charter extension

    KNOT Offshore Partners bags Equinor charter extension Shuttle tanker player KNOT Offshore Partners has firmed up its backlog with Equinor after agreeing to extend the charter of one of its vessels to March 2029. The deal covers the 2011-built Bodil Knutsen and also includes two further one-year options. The New York-listed company said the extension…

  • Latsco ends MR order drought with K Shipbuilding deal

    Latsco ends MR order drought with K Shipbuilding deal Greek shipowner Latsco Shipping has returned to the product tanker newbuilding market after nearly a decade, with sources linking the company to a fresh order at South Korea’s K Shipbuilding. Shipbuilding players in Athens and Seoul said Latsco, controlled by the Latsis family and led by…

  • 68% of women in maritime say they’ve faced bias

    68% of women in maritime say they’ve faced bias A new report from the Global Maritime Forum and All Aboard Alliance lays bare the invisible barriers that keep shipping’s leadership ranks homogeneous — and warns that industry growth may be stunted if it can’t tap its full diversity. The Diversifying Maritime Leadership survey — built…

  • Box rates rates sink to lowest levels since Red Sea crisis

    Box rates rates sink to lowest levels since Red Sea crisis Container freight rates are sliding further, with Drewry’s World Container Index (WCI) dropping 8% this week to $1,761 per feu — the fifteenth consecutive weekly decline. The fall is being felt across key trade lanes, with carriers struggling to hold the line despite capacity…

  • TechnipFMC bags work on Exxon’s seventh Guyana project

    TechnipFMC bags work on Exxon’s seventh Guyana project Offshore contracting giant TechnipFMC has been awarded a contract to supply subsea production systems for ExxonMobil’s Hammerhead development in Guyana’s Stabroek Block. TechnipFMC will provide project management, engineering, and manufacturing of subsea production systems supporting both production and water injection capabilities. The subsea architecture will include products…

  • Geely floats world’s first methanol-hydrogen electric riverboat

    Geely floats world’s first methanol-hydrogen electric riverboat Chinese automotive giant Geely Holding has expanded its green drive into shipping with the launch of the Yuanchun 001, billed as the world’s first methanol-hydrogen electric multi-purpose riverboat. Unveiled in Hangzhou, the 64 teu vessel is the latest step in Geely’s two-decade push into methanol technology, marking the…

  • Splash Wrap: UNCTAD flags fragile growth as container trade rearranges and capacity soars

    Splash Wrap: UNCTAD flags fragile growth as container trade rearranges and capacity soars Several significant trends and forecasts led Splash coverage this week, from substantial expansion of container handling capacity to warnings that the overall global shipping environment is entering a period of fragile growth marked by geopolitical uncertainty, rising environmental compliance costs, and challenges…

  • Marco Polo Marine expands fleet with two new AHTS vessels

    Marco Polo Marine expands fleet with two new AHTS vessels Singapore offshore vessel player and shipyard Marco Polo Marine will be expanding its fleet with the addition of two newbuild anchor handling tug supply (AHTS) vessels. With a combined value of approximately $34m, the vessels are expected to join the fleet in 2026. With these…

  • Singapore Inc feels the squeeze

    Singapore Inc feels the squeeze It might be the world’s premier maritime hub, but the bills are a pain. How do you run a tight ship in the Lion Republic? Singapore may be celebrated as one of the world’s most efficient and stable maritime hubs, but beneath the gloss, businesses are grappling with the rising…

  • Coal trade faces rare back-to-back decline

    Coal trade faces rare back-to-back decline Global coal trade is forecast to shrink in 2025, the first drop since the covid-19 shock of 2020, with another fall expected in 2026. If confirmed, this would be the first consecutive two-year decline in seaborne coal trade in the 21st century, according to analysis by The Signal Group…

  • UNCTAD warns shipping is entering a period of fragile growth and mounting uncertainty

    UNCTAD warns shipping is entering a period of fragile growth and mounting uncertainty Global shipping is entering a period of fragile growth, rising costs and mounting uncertainty, according to The Review of Maritime Transport 2025 released yesterday by UN Trade and Development (UNCTAD). After firm growth last year, seaborne trade is expected to stall in…

  • India unveils $8bn maritime moonshot

    India unveils $8bn maritime moonshot India has unveiled an $8bn maritime stimulus, its boldest bet yet to climb the global shipbuilding ladder.  The Union cabinet this week signed off on a ₹69,725 crore package aimed at nothing less than vaulting the country into the world’s top ten shipbuilding nations by 2030, and the top five…

  • Idan Ofer’s EPS moves on full CoolCo takeover

    Idan Ofer’s EPS moves on full CoolCo takeover Israeli billionaire Idan Ofer is moving to take LNG carrier owner Cool Company (CoolCo) private through his investment arm EPS Ventures. EPS, which already controls nearly 60% of CoolCo, is in advanced talks to buy out the remaining shares at $9.65 each in cash. The offer values…

  • Reach Subsea orders two more USVs from Kongsberg

    Reach Subsea orders two more USVs from Kongsberg Norwegian offshore services player Reach Subsea has exercised the first in a series of options with Kongsberg Maritime to order two more uncrewed surface vessels (USVs). The contract terms for the USVs, to be named Reach Remote 3 and Reach Remote 4, have been mutually agreed upon…

  • Singapore’s maritime tech ambitions unveiled

    Singapore’s maritime tech ambitions unveiled From testbed to global pace-setter, the Lion Republic is showing world maritime how to harness tech properly. The latest chapter from our brand new Singapore Market Report magazine. Singapore is steadily consolidating its role as one of the world’s most dynamic maritime technology hub, blending government-led initiatives with industry collaboration…

  • Don’t let the ships of the future run on deforestation

    Don’t let the ships of the future run on deforestation Anggi Putra Prayoga, forest campaigner at Forest Watch Indonesia, argues that allowing the use of food/feed-based biofuels in shipping at the IMO could have severe negative social and environmental impacts. Indonesia should serve as a stark warning to anyone considering biofuels as a sustainable clean…

  • Splash Extra now free for all to access

    Splash Extra now free for all to access Splash Extra, our monthly title giving readers an incisive brief into where the shipping markets are headed, is now available for free to read. Launched in January 2019, and published on the final Wednesday of every month, Splash Extra contains a topical agenda including exclusives, the monthly…

  • Shipping bosses in Singapore call for immigration shake-up

    Shipping bosses in Singapore call for immigration shake-up Splash tackles one of the thornier issues facing the local maritime community in the latest instalment from our brand new Singapore Market Report magazine. Singapore’s maritime hub status is unquestioned — but its shipping community is increasingly vocal about one factor it believes could undermine future competitiveness:…

  • Bulker crew stranded in Nigeria without pay for three months

    Bulker crew stranded in Nigeria without pay for three months The crew of the 2008-built bulker Eleen Armonia has been stranded in Nigeria for more than three months without receiving salaries. According to an email sent to Splash from a crew representative, many crew contracts have already expired, but the owner of the Liberian-flagged vessel…

  • Seatrium offloads US shipyard to Karpowership

    Seatrium offloads US shipyard to Karpowership Singapore shipyard group Seatrium has sold its AmMFELS yard located at Brownsville, Texas, for a consideration of S$65m ($50.6m) to Karpower Valley, a related party of Karpowership. Seatrium stated that the accretive divestment would allow the company to enhance capital and operational efficiencies while unlocking value from one of…

  • Diana Shipping charters out kamsarmax to NYK Line

    Diana Shipping charters out kamsarmax to NYK Line Greek bulker owner Diana Shipping has entered into a time charter contract with Nippon Yusen Kabushiki Kaisha (NYK Line) for one of its kamsarmax dry bulk vessels. The company hired the 2014-built, 82,165 dwt bulker Leonidas P. C. The gross charter rate is $14,000 per day, minus…

  • Vogemann linked to six kamsarmaxes at Hengli Heavy

    Vogemann linked to six kamsarmaxes at Hengli Heavy German shipowner Vogemann has reportedly returned to China for another round of bulk carrier newbuildings, with reports linking the Hamburg-based company to a fresh series of kamsarmax orders at Hengli Heavy Industries in Dalian. Shipbroking and market sources suggest Vogemann has committed to six 82,000 dwt vessels…