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Tag: splash24x7

  • Capital Clean Energy Carriers seals boxship sale and gas carrier financing

    Capital Clean Energy Carriers seals boxship sale and gas carrier financing Evangelos Marinakis-backed Capital Clean Energy Carriers (CCEC) has agreed the sale of one of its three neo-panamax containerships and lined up financing for its medium gas carrier (MGC) newbuilding programme. The Nasdaq-listed Greek owner has struck a deal to sell the 2022-built 13,312 teu…

  • Northern Lights marks first CO2 storage offshore Norway

    Northern Lights marks first CO2 storage offshore Norway Northern Lights JV has achieved a key milestone, injecting the first volumes of carbon dioxide into its offshore storage site in the Norwegian North Sea. The CO₂ was transported through a 100-km pipeline and injected into the Aurora reservoir, 2,600 m below the seabed. “Our ships, facilities…

  • Euroseas adds to 4,300 teu newbuild series

    Euroseas adds to 4,300 teu newbuild series Greek containership owner Euroseas has returned to Jiangsu New Yangzi Shipbuilding in China for two additional 4,300 teu newbuilds. The Nasdaq-listed company said the vessels, priced at about $59.25m apiece, are due for delivery in March and May 2028. Financing will be arranged through a mix of debt…

  • Hackers sew lips on Iran’s merchant fleet again

    Hackers sew lips on Iran’s merchant fleet again For the second time in the space of five months, a hacker group is claiming it has knocked out communications on a swathe of the Iranian merchant fleet.  The hacker group called Lab Dookhtegan, which translates as Sewn Lips, told London-based TV channel Iran International it had…

  • Champion Tankers takes options on final two MR newbuilds in China

    Champion Tankers takes options on final two MR newbuilds in China Norway’s Champion Tankers has wrapped up its latest round of fleet renewal, declaring options for the final two ships in a series of MR tankers ordered at Penglai Jinglu Shipyard in China. The Bergen-based private company, led by Karl Lodrup Kvalheim, will now take…

  • OOCL admits upcoming US port fees will have ‘relatively large impact’

    OOCL admits upcoming US port fees will have ‘relatively large impact’ Orient Overseas (International) Ltd (OOIL), the listed entity of Hong Kong container line OOCL, has conceded that October’s likely introduction of extra port fees for Chinese-linked tonnage could be painful. OOCL, owned by China’s COSCO, posted its interims yesterday in which it noted in…

  • APM Terminals seals $1bn ports deal in India

    APM Terminals seals $1bn ports deal in India Maersk’s port operating arm, APM Terminals, has signed a memorandum of understanding with India’s Andhra Pradesh Maritime Board to invest 9,000 crore (around $1.1bn) in the development of three key ports in the state. The agreement, inked in the presence of chief minister N Chandrababu Naidu, covers…

  • Splash Wrap: Boxship orders dominate as carriers face oversupply reality

    Splash Wrap: Boxship orders dominate as carriers face oversupply reality The containership market led Splash coverage this week, with the orderbook climbing to record levels and analysts warning of a prolonged supply glut. The global orderbook now stands at 10.4m teu, or 31.7% of the existing fleet, the highest since 2010. Linerlytica cautioned that the…

  • Bill Gates in Korea to further nuclear-powered ships project with HD Hyundai

    Bill Gates in Korea to further nuclear-powered ships project with HD Hyundai Bill Gates, in his role as founder of TerraPower, met with HD Hyundai’s executive vice-chairman Chung Kisun in Seoul today to further a strategic partnership aiming to commercialise small modular reactor (SMR) propulsion. The meeting—after their March rendezvous in the US—centred on scaling…

  • Taking a reality check on shipping’s digitalisation

    Taking a reality check on shipping’s digitalisation Vlassis Papapanagis, chief commercial officer at Tototheo Global, writes for Splash today. Digitalisation and AI are reshaping shipping,  promising safer, smarter and more environmentally responsible operations. This is particularly acute in the absence of a clear pathway for alternative fuels. As companies accelerate their use of technologies to…

  • Shipping and mining powerhouses locked in for iron ore finale at Geneva Dry 2026

    Shipping and mining powerhouses locked in for iron ore finale at Geneva Dry 2026 Panels are beginning to coalesce for next April’s Geneva Dry, the world’s premier commodities shipping conference. As in past editions, the two-day event will close with a very high level session on iron ore, the largest shipped dry bulk commodity, with…

  • Suezmaxes cash in on Kazakh export disruption

    Suezmaxes cash in on Kazakh export disruption Suezmax spot rates are surging as Kazakhstan runs into mounting difficulties with its oil exports, tightening the tonnage list across the Mediterranean and beyond. Kazakhstan has suspended flows via the Baku–Tbilisi–Ceyhan (BTC) pipeline after chloride-contaminated crude entered the system in late July, diverting volumes to the Caspian Pipeline…

  • CMA CGM invests in US bio-LNG supplier

    CMA CGM invests in US bio-LNG supplier French liner giant CMA CGM is making a strategic minority investment in US-based Vanguard Renewables through its energy fund PULSE, securing long-term access to volumes of renewable natural gas (RNG). Vanguard, which runs anaerobic digesters powered by farm and organic waste, will dedicate up to four projects to…

  • HD Hyundai buys Doosan’s Vietnam yard for $207m

    HD Hyundai buys Doosan’s Vietnam yard for $207m HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the holding company of HD Hyundai Group, has struck a deal to acquire Doosan Vina, the Vietnamese manufacturing unit of Doosan Enerbility, in a transaction worth 290bn won ($207.5m). The deal will see HD KSOE take full control of…

  • Dubai’s CStar Line scales back

    Dubai’s CStar Line scales back A relatively new entrant to container shipping is scaling back. CStar Line, founded two years ago in Dubai, has focused on servicing Russian, Asian and Turkish ports.  Container analytics firm eeSea is reporting the carrier is suspending one Asia – Europe and three Asia – Middle East services this month. …

  • Tanker hit in Russian drone strike on Izmail port

    Tanker hit in Russian drone strike on Izmail port A Panama-flagged chemical/oil products tanker has reportedly been severely damaged in Russian drone strike at the port of Izmail, Ukraine. The 7,842 dwt Excellion was moored at the eastern pier of the Izmail Oil Transshipment Complex during the early hours of August 20 when a series…

  • Golden Ocean name consigned to history after CMB.TECH takeover

    Golden Ocean name consigned to history after CMB.TECH takeover One of the world’s most famous names in shipping has disappeared following a shareholder vote yesterday in Bermuda.  Golden Ocean Group, originally founded in 1978 by Fred Cheng before being sold under Chapter 11 protection to John Fredriksen’s Frontline in 2000, has now been folded into…

  • C Transport Maritime: Radziwill’s take on tariffs and dry bulk

    C Transport Maritime: Radziwill’s take on tariffs and dry bulk Donald Trump’s tariffs have had a surprising effect on the shipping’s largest sector, argues one of the most famous names in dry bulk in today’s Maritime CEO interview. “The shifts in global trades they caused have helped improve the dry bulk freight supply/demand picture mostly…

  • Neutralising the boxship orderbook would require scrapping every pre-2010 vessel

    Neutralising the boxship orderbook would require scrapping every pre-2010 vessel The tremendous, record volume of container newbuildings due to enter the market in the coming years will require a huge swathe of the box fleet to be scrapped, something that is not happening at present.  Splash’s lead story yesterday carried data from Linerlytica suggesting the…

  • TMS Cardiff Gas and Celsius tied to $1.5bn Samsung LNG orders

    TMS Cardiff Gas and Celsius tied to $1.5bn Samsung LNG orders Two well-known names in LNG shipping have been linked to fresh orders at Samsung Heavy Industries, as newbuilding activity in the gas carrier segment shows signs of life. The South Korean yard confirmed this week it had secured contracts for six 174,000 cu m…

  • Ammonia engine tests show 95% emission cut

    Ammonia engine tests show 95% emission cut Ammonia as a frontrunner in shipping’s fuel of the future stakes is very much back in the headlines with news of a first green ammonia bunkering operation concluded recently in China, and Japanese companies mapping out landmark ammonia bunkering ops in Singapore, the world’s largest bunkering hub, scheduled…

  • Explosion rocks bulk carrier departing Baltimore

    Explosion rocks bulk carrier departing Baltimore Baltimore’s already bruised maritime sector was dealt another scare on Monday evening when a Greek-owned coal carrier suffered a spectacular explosion as it departed the port. The 81,681 dwtW Sapphire, managed by Athens-based W Marine and flagged in Liberia, had just cleared CSX’s Curtis Bay terminal around 6:30 pm…

  • KMTC upsizes fleet with $600m order at HD Hyundai

    KMTC upsizes fleet with $600m order at HD Hyundai Korea Marine Transport Co (KMTC) has been linked to its biggest move yet in the newbuild market, locking in an order for four 13,000 teu containerships at HD Hyundai yards. Brokers report the Seoul-based liner operator has committed to the quartet at around $150m per ship,…

  • 10.4m teu container orderbook raises spectre of decade-long supply glut

    10.4m teu container orderbook raises spectre of decade-long supply glut The containership orderbook has reached a record high of 10.4m teu, according to data from Asian container consultancy Linerlytica, with the orderbook ratio rising to 31.7% of the fleet – its highest levels since 2010.  “The last time the orderbook ratio exceeded this level in…

  • Performance Shipping tanker heads to Pakistan under year-long charter

    Performance Shipping tanker heads to Pakistan under year-long charter Greece’s Performance Shipping has secured a fresh time charter for one of its tankers, agreeing a year-long fixture with Pakistan National Shipping Corporation (PNSC). The 105,304 dwt LR2/aframax P Aliki has been fixed at a daily rate of $30,000 for a firm period of 12 months,…

  • Seaspan grows newbuild pipeline with 12-ship deal in China

    Seaspan grows newbuild pipeline with 12-ship deal in China Seaspan Corporation has inked a fresh round of newbuilding orders in China, adding twelve 9,000 teu containerships to its fleet pipeline. The vessels will be built at Hudong-Zhonghua Shipbuilding, part of China State Shipbuilding Corporation (CSSC), with deliveries slated to begin in 2028. The deal is…

  • ‘Deep slump’ in recorded dry bulk orders this year

    ‘Deep slump’ in recorded dry bulk orders this year Ship orders for most sectors have slowed dramatically in 2025, with shipping’s largest sector, dry bulk, among the quietest when it comes to signing contracts for new vessels.  The latest data from Clarksons Research shows that overall ordering in the year to date is down by…

  • Xeneta acquires eeSea

    Xeneta acquires eeSea Xeneta has acquired fellow Scandinavian maritime and supply chain data company eeSea. By adding eeSea’s global schedule, transit time and reliability data to its existing range of freight rate data, Xeneta said in a release it will enable BCO procurement teams to manage freight contracts and suppliers based on service levels, and…

  • Meratus adds more feeders at Guangxi Shipbuilding

    Meratus adds more feeders at Guangxi Shipbuilding Indonesian shipowner and logistics group Meratus is expanding its fleet with feeder newbuildings at one of its go-to yards in China. The company has signed the newbuilds with CSSC Guangxi Shipbuilding and Offshore Engineering, a yard it has repeatedly tapped for similar tonnage. The new vessels are scheduled…

  • Capesize values climb as Goldenport deal closes

    Capesize values climb as Goldenport deal closes Capesize values continue to firm, with a string of reported sales now confirmed and delivered. Greek and Chinese buyers have been the most active, tying their names to the majority of transactions. Goldenport has doubled its cape exposure, acquiring its first unit of the year — the 13-year-old,…

  • FuelEU surplus market gets first index

    FuelEU surplus market gets first index Digital compliance platform BetterSea has launched the first FuelEU Index, offering a benchmark for pricing and trading dynamics in the emerging FuelEU Maritime surplus market. The index is built on executed trades and active listings on the BetterSea platform, which has recorded over 41,700 tonnes of CO equivalent (t…

  • X-Press Feeders fires back in $1bn Sri Lankan court fight

    X-Press Feeders fires back in $1bn Sri Lankan court fight Singapore’s X-Press Feeders has hit back at the Sri Lankan Supreme Court’s order to pay $1bn within a year over the 2021 X-Press Pearl casualty, warning the decision tramples on due process, scapegoats its crew, and poses a dangerous precedent for global shipping. The feeder…

  • CK Hutchison ports sale unlikely to be concluded this year

    CK Hutchison ports sale unlikely to be concluded this year The big ports deal involving CK Hutchison has hit choppy waters. The Hong Kong-based conglomerate confirmed yesterday that its planned sale of 43 global ports for just shy of $23bn is unlikely to be completed this year as previously hoped. The deadline for exclusive talks…

  • Ukraine targets Caspian port in strike on Russian drone supply chain

    Ukraine targets Caspian port in strike on Russian drone supply chain Ukraine’s Special Operations Forces have struck the Russian port of Olya in the Astrakhan region, destroying a vessel loaded with components for Iranian-made Shahed drones and ammunition. The attack, carried out on August 14 in coordination with other elements of Ukraine’s Defense Forces, hit…

  • Splash Wrap: Red, white, and fume

    Splash Wrap: Red, white, and fume The United States’ formal rejection of the International Maritime Organization’s (IMO) proposed net-zero framework for the shipping industry led coverage at Splash this week.  This framework, which includes carbon levies and fuel standards, aims to significantly reduce greenhouse gas emissions from ships by 2050. The US administration views this…

  • Fire hits Maersk ship off Liberia

    Fire hits Maersk ship off Liberia A fire broke out on Wednesday onboard a Maersk ultra-large containership while sailing off the coast of Liberia. The 2013-built 19,076 teu Marie Maersk, operating under the Gemini Cooperation’s Asia–Europe AE4 service, was en route from Rotterdam to Tanjung Pelepas when crewmembers detected smoke coming from containers on deck.…

  • Houthis seek to legitimise maritime role with ‘Safe Transit’ service

    Houthis seek to legitimise maritime role with ‘Safe Transit’ service The Houthi-run Humanitarian Operations Coordination Center (HOCC) has released a new set of Frequently Asked Questions (FAQs) assuring safe passage to vessels transiting through the Gulf of Aden, Bab el Mandeb, the Arabian Sea and the Red Sea if they are not related to the…

  • Shipping navigates net-zero waters without US support

    Shipping navigates net-zero waters without US support The US decision to go public on its offensive against the International Maritime Organization’s proposed net-zero framework has created considerable debate within the shipping community.  Various ministers within the Donald Trump administration issued a joint statement this week branding the plan a “global carbon tax on Americans” and…

  • Ocean Yield moves deeper into LNG via 10-ship CapeOmega deal

    Ocean Yield moves deeper into LNG via 10-ship CapeOmega deal Norwegian shipleasing specialist Ocean Yield and KKR-managed vehicles have agreed to acquire CapeOmega Gas Transportation from private equity firm Partners Group, expanding their exposure to the LNG sector. CapeOmega holds joint ownership in a fleet of ten 174,000 cu m LNG carriers operated by Knutsen.…

  • Shipping’s biggest names set to return to Geneva Dry

    Shipping’s biggest names set to return to Geneva Dry Sign-ups to next year’s Geneva Dry – the world’s premier commodities shipping summit – are pouring in with organisers finalising the session line-ups for dry bulk’s biggest annual gathering. With hundreds of delegates already confirmed for the April 28 – 29 event, the 2026 edition is…

  • US rejects IMO net-zero framework

    US rejects IMO net-zero framework The United States has formally rejected the International Maritime Organization’s (IMO) proposed carbon levy, branding it a “global carbon tax on Americans” and vowing to rally opposition ahead of a key vote in October. In a joint statement, secretary of state Marco Rubio, commerce secretary Howard Lutnick, energy secretary Chris…

  • Ex-Christiania Gas boss joins Navigare Capital

    Ex-Christiania Gas boss joins Navigare Capital Denmark’s Navigare Capital Partners has brought in a former chief executive of Christiania Ga, Andrew McPhail, as a new partner, bolstering its investment team. McPhail is now working on business development and deal sourcing alongside partners Lars Christensen and Max Nielsen. His remit covers opportunities across the deepsea shipping…

  • Diana Shipping charters out post-panamax to Oldendorff

    Diana Shipping charters out post-panamax to Oldendorff Greek bulker owner Diana Shipping has entered into a time charter contract with Oldendorff Carriers for one of its post-panamax vessels. The company hired the 2012-built, 98,704 dwt bulker Polymnia. The gross charter rate is $14,000 per day, minus a 5% commission paid to third parties, until a minimum…

  • Venice Energy sells Australian LNG terminal to AG&P LNG

    Venice Energy sells Australian LNG terminal to AG&P LNG Australian energy infrastructure developer Venice Energy has agreed to sell its project to LNG terminals and downstream infrastructure firm AG&P LNG, a subsidiary of US-owned Nebula Energy. This follows an eight-month negotiation process after signing a binding term sheet between the two companies in October 2024…

  • HD Hyundai’s new Philippine yard to open in January with capacity for 10 ships a year

    HD Hyundai’s new Philippine yard to open in January with capacity for 10 ships a year South Korea’s HD Hyundai is set to start shipbuilding in the Philippines from January next year, with a revamped Subic Bay yard capable of turning out up to 10 vessels annually. The shipbuilding giant has signed a 10-year lease…

  • Leadership change at Blue Water Shipping

    Leadership change at Blue Water Shipping Danish shipping and logistics group Blue Water has appointed Thomas Bek as its new chief executive, succeeding Søren Nørgaard Thomsen, who steps down after seven years at the helm. Bek, who started as a freight forwarding trainee with Blue Water 29 years ago, takes over immediately. For the past…

  • Abraham Unger and Eli Glickman reportedly bid to take ZIM private

    Abraham Unger and Eli Glickman reportedly bid to take ZIM private Israeli business news outlet Calcalist is reporting that ZIM CEO Eli Glickman is teaming up with Israeli shipping magnate Abraham Unger in a bid to take ZIM private. A deal is reportedly being discussed in the $2.4bn range, which is equal to roughly $20…

  • Property woes cast long shadow over China’s steel and iron ore demand

    Property woes cast long shadow over China’s steel and iron ore demand The fragile state of China’s real estate sector continues to weigh heavily on dry bulk fortunes. State-run developer China South City Holdings was ordered to liquidate by Hong Kong’s High Court yesterday, with debts nearing $8bn, making it the biggest Chinese builder by…

  • Transpacific bump in rates tipped as Trump delays China tariffs again

    Transpacific bump in rates tipped as Trump delays China tariffs again The US tariffs on China have been postponed another 90 days until November 10. The US will keep its tariffs at 30%, and China will maintain its levies at 10% through to the autumn as negotiations between the world’s two biggest economies continue. Commenting…

  • Eagle S officers charged over Baltic cable sabotage

    Eagle S officers charged over Baltic cable sabotage Finnish prosecutors have charged the captain and two senior officers of the Eagle S tanker, part of Russia’s so-called shadow fleet, over the alleged destruction of critical undersea cables linking Finland and Estonia last December. The Cook Islands-flagged ship, which had sailed from Russia’s Ust-Luga with oil…

  • Report warns shore leave is in danger of extinction

    Report warns shore leave is in danger of extinction A new report from the ITF Seafarers’ Trust and the World Maritime University (WMU) highlights the continuing absence of shore leave for the world’s seafarers. Analysing the data from 5,879 seafarers who responded to the trust’s shore leave survey, WMU researchers concluded that more than a…

  • Container market sends mixed signals as charter rates hold firm, spot rates slide

    Container market sends mixed signals as charter rates hold firm, spot rates slide Container shipping is giving out misleading signals. On the one hand, time charter rates are at highs never experienced outside the covid era, while spot rates have been on a decline for nine straight weeks. Likewise, global liners are muddying the outlook…

  • Diana Shipping re-fixes ultramax to Cargill at lower rate

    Diana Shipping re-fixes ultramax to Cargill at lower rate New York-listed Greek bulker owner Diana Shipping has secured a fresh charter deal with Cargill for one of its ultramaxes, albeit at a slightly reduced rate compared to its previous contract. The Semiramis Paliou-led company has fixed the 60,508 dwt DSI Pegasus until at least May…

  • Eastern Pacific lines up feeder boxship series at Mawei Shipyard

    Eastern Pacific lines up feeder boxship series at Mawei Shipyard Singapore-based Eastern Pacific Shipping (EPS) has made another move into the feeder container market with a major newbuilding order at China’s Fujian Mawei Shipbuilding. Sources following EPS’ shipbuilding moves said the Idan Ofer-led owner has inked firm contracts for 12 vessels of 1,800 teu capacity,…

  • Dong Fang Offshore lands 15-year SOV contract in Taiwan

    Dong Fang Offshore lands 15-year SOV contract in Taiwan Taiwanese offshore vessel operator Dong Fang Offshore (DFO) has won a landmark 15-year contract with Synera Renewable Energy (SRE) to provide a service operations vessel (SOV) for the Formosa 4 offshore wind project. The deal is described as the longest SOV fixture seen to date in…

  • Well-Safe secures multi-year EnQuest deal worth over $45m

    Well-Safe secures multi-year EnQuest deal worth over $45m Well-Safe Solutions has secured a significant decommissioning contract with EnQuest, which is expected to generate over $45m in revenue and position the company for long-term activity in the North Sea. The Aberdeen-based firm will deploy its semi-submersible rig Well-Safe Defender to carry out a minimum of 100…

  • Shipowners warned GPS spoofing groundings may not be covered by insurance

    Shipowners warned GPS spoofing groundings may not be covered by insurance The Association of Average Adjusters (AAA) has issued a warning to the maritime sector, highlighting the growing legal ambiguity around insurance claims involving vessel groundings linked to GPS spoofing. In a new discussion paper, the AAA warns that cyber exclusion clauses increasingly found in…

  • Splash Wrap: Flags, fines and fakes

    Splash Wrap: Flags, fines and fakes Sanctions, the shadow fleet, and the many ways authorities are trying to clamp down on this illicit trade kept Splash reporters busy all week, with clear evidence that the dark fleet is growing quicker than the West can contain.  The grey fleet – as tracked by broker BRS –…

  • Norway to demand insurance disclosure from foreign tankers

    Norway to demand insurance disclosure from foreign tankers Norwegian authorities will require foreign-flagged tankers operating within the country’s economic zone to disclose their insurance arrangements starting August 11. The new rule, announced by Norway’s coastal administration, is part of a broader push to enhance maritime safety and environmental protection amid mounting concerns over the growing…

  • Centrofin builds out dry bulk orderbook at Hengli

    Centrofin builds out dry bulk orderbook at Hengli Greek bulker and tanker owner Centrofin is expanding its presence in the dry segment with a pair of kamsarmax newbuildings added to the orderbook. The Dimitris Procopiou-led company has upped its newbuilding programme at China’s Hengli Heavy Industry to eight 82,000 dwt units, following the initial order…

  • Panama cracks down on STS transfers in bid to clean up fleet

    Panama cracks down on STS transfers in bid to clean up fleet The Panama Ship Registry has become the first flag in the world to implement stricter controls and mandatory traceability for offshore ship-to-ship (STS) transfers of hydrocarbons. Non-compliance—depending on its severity—may lead to the cancellation of a vessel’s Panamanian registration. The regulation requires all…

  • Genco confirms Japanese capesize swoop

    Genco confirms Japanese capesize swoop US-based dry bulk owner Genco Shipping & Trading has confirmed its return to the secondhand market with the acquisition of a modern Japanese-built capesize. The John Wobensmith-led outfit, with currently 16 capes out of 42 bulkers in its fleet, has picked up a 2020 Imabari-built, 182,000 dwt scrubber-fitted vessel for…

  • Seacor Marine sells liftboat tandem to JAD Construction for $76m

    Seacor Marine sells liftboat tandem to JAD Construction for $76m US offshore vessel operator Seacor Marine has sold two of its 335-foot liftboats to JAD Construction for total gross proceeds of $76m in cash. The net proceeds from the sales of the are unencumbered, and the transaction is expected to close during the third quarter…

  • Grey fleet grows faster than enforcement can keep up

    Grey fleet grows faster than enforcement can keep up The growth in the number of sanctioned ships has accelerated over the past year. Analysts at Kpler have been tracking the sanctioned fleet over the past five years. The count of vessels under sanction rose from about 370 in July 2020 to roughly 1,650 by July…

  • Shelf Drilling lands first Dutch North Sea deal

    Shelf Drilling lands first Dutch North Sea deal Dubai-based jackup rig operator Shelf Drilling has secured its first contract in the Dutch North Sea, landing a deal with Tenaz Energy for a one-year firm term, with an option to extend to three years. The Oslo-listed company, set to be acquired by Saudi oil and gas…

  • Trump slaps India with new tariffs over Russian crude ties

    Trump slaps India with new tariffs over Russian crude ties US president Donald Trump has signed an order imposing an additional 25% tariff on goods from India, in response to the country’s continued imports of Russian energy, the White House said on Wednesday, a move that could reshape the global tanker trades. The decision came…

  • International Seaways picks up modern VLCC as it sheds six ageing product tankers

    International Seaways picks up modern VLCC as it sheds six ageing product tankers US tanker owner International Seaways has snapped up a modern VLCC while disposing ageing product carriers. The New York-listed firm said in its quarterly earnings report it had struck a deal to buy an unnamed 2020-built scrubber-fitted supertanker for $119m. The purchase,…

  • Maris Fiducia debuts eight-vessel investment platform

    Maris Fiducia debuts eight-vessel investment platform Maris Fiducia Finance, the investment arm of Maris Fiducia, has created a new platform for investors based on its eight-strong Bird Fleet. According to the company, the platform is for robust maritime investments, backed by real ships, long-term contracts, and a focus on sustainability. Maris Fiducia’s Bird Fleet consists…

  • DNV spins off maritime software unit as CFARER

    DNV spins off maritime software unit as CFARER Class society DNV has formally launched CFARER, a new maritime software company spun out from its former DNV Maritime Software business. The new brand becomes operational immediately, with majority ownership retained by DNV and a strategic minority stake held by Wilhelmsen Port Services. CFARER will continue to…

  • Kmarin books newcastlemax newbuilds in China

    Kmarin books newcastlemax newbuilds in China South Korea’s Kukje Maritime Investment (Kmarin) has returned to the newbuilding market with an order for two newcastlemax bulk carriers, ending a seven-year absence from the shipyard orderbooks. The Seoul-based owner has contracted Jiangsu New Hantong Ship Heavy Industry to build the 210,000 dwt vessels. No price or delivery…

  • Jinhui continues ship sales with fifth deal of the year

    Jinhui continues ship sales with fifth deal of the year Chinese dry bulk player Jinhui Shipping and Transportation has agreed to sell yet another supramax bulker, marking its fifth vessel sale of the year. The Oslo- and Hong Kong-listed company is offloading the 2009-built 65,900 dwt Jin Jun to Singapore-incorporated Huwell Global Resources in a…

  • Elbdeich steps up fleet growth with newbuild brace

    Elbdeich steps up fleet growth with newbuild brace German shipowner Elbdeich Reederei has placed an order for two 5,100 teu widebeam containerships at a shipyard in the Far East, with delivery scheduled for 2027. The vessels will comply with IMO Tier III standards and be fitted with a range of fuel-saving devices, the company said…

  • North Star orders SOV pair at Vard

    North Star orders SOV pair at Vard UK-based offshore vessel operator North Star has returned to Norwegian shipbuilder Vard with an order for two new service operation vessels (SOVs) to support offshore wind operations across the UK and Europe. The newbuilds are based on the Vard 4 19 design, developed specifically for offshore wind support.…

  • Oversupply forecast to haunt liner markets into 2029

    Oversupply forecast to haunt liner markets into 2029 Container shipping is faced with a supply/demand imbalance through to the end of the decade, according to new analysis from Asian consultancy Linerlytica.  A slowing global economy alongside record amounts of newbuild tonnage pouring out of Asian shipyards is anticipated to put the brakes on earnings with…

  • Gujarat court arrests shadow aframax bound for the breakers

    Gujarat court arrests shadow aframax bound for the breakers A shadow aframax tanker sold for scrap earlier this year has been arrested in India following a failed transaction and claims by the buyer that the vessel was sanctioned and misrepresented at the time of sale. The Gujarat High Court has ordered the arrest of the…

  • Shadow tanker fleet still growing by 30 ships a month despite increased sanctions

    Shadow tanker fleet still growing by 30 ships a month despite increased sanctions Despite a torrent of sanctions from the US, UK, and EU this year, the shadow tanker fleet continues to expand at pace, according to new figures from broker BRS. The so-called grey fleet (see BRS methodology for assessing what constitutes a grey…

  • BP and JERA’s offshore wind alliance takes off

    BP and JERA’s offshore wind alliance takes off Energy major BP and Japan’s largest utility JERA have completed the formation of their equally-owned offshore wind business JERA Nex BP. JERA Nex BP’s portfolio of operating assets and development projects has a net potential generating capacity of 13GW. This includes around 1GW of installed net generating…

  • NYK and Chuo University to explore shipborne sea life for human health gains

    NYK and Chuo University to explore shipborne sea life for human health gains Japan’s Nippon Yusen Kabushiki Kaisha (NYK Line) and Chuo University have recently launched a joint research initiative to discover novel natural products from marine organisms. The project aims to identify previously unknown substances that may have beneficial applications for humanity, including potential…

  • Polsteam books up to six handysize bulker newbuilds in China

    Polsteam books up to six handysize bulker newbuilds in China Polish Steamship Co (Polsteam) has moved to bolster its fleet with a fresh series of handysize bulk carriers ordered at Wuhu Weihai Shipbuilding in China. The state-owned operator has signed for four firm 45,000 dwt vessels, with options for two additional units. The first ship…

  • Panama will not register tankers and bulk carriers older than 15 years

    Panama will not register tankers and bulk carriers older than 15 years In its most firm action to date to counter dark fleet registrations, the Panamanian Ship Registry, the world’s second-largest flag, will no longer accept tankers or bulk carriers aged more than 15 years old.  “By prioritizing quality over quantity and implementing more rigorous…

  • SeaLead drops 16 boxships after US sanctions target Iranian-linked fleet

    SeaLead drops 16 boxships after US sanctions target Iranian-linked fleet Singapore-based container carrier SeaLead has been forced into a dramatic fleet reshuffle after terminating the charters of 16 container vessels in response to fresh US sanctions. The move comes just days after the US Treasury’s Office of Foreign Assets Control (OFAC) unveiled new measures targeting…

  • Schoeller in for boxship newbuild brace

    Schoeller in for boxship newbuild brace Schoeller Holdings has returned to China’s Huangpu Wenchong Shipbuilding with an order for a pair of 1,900 teu containerships. The Cyprus-based owner is paying between $31m and $32m per vessel, with deliveries scheduled for 2028. The deal continues a long-standing relationship between Schoeller and the Guangzhou-based yard, which has…

  • Great Eastern picks up secondhand kamsarmax

    Great Eastern picks up secondhand kamsarmax Indian owner Great Eastern Shipping is pressing ahead with its fleet renewal initiative, having contracted to buy a 2015-built kamsarmax bulk carrier. The unnamed 81,843 dwt vessel is expected to change hands by October, the Mumbai-listed diversified owner said in a stock exchange filing. While the company has not…

  • DOF awarded new vessel contracts with Petrobras

    DOF awarded new vessel contracts with Petrobras Norwegian offshore vessel owner DOF has secured two new long-term contracts with Petrobras for AHTS vessels Skandi Fluminense and Skandi Lifter. The latest wins bring DOF’s total count of Petrobras-contracted AHTS vessels to seven. Both vessels have been awarded four-year contracts under the same competitive Petrobras tender that…

  • Norwind Offshore clinches CSOV deal with Semco unit

    Norwind Offshore clinches CSOV deal with Semco unit Norwind Offshore has landed a charter agreement with Wind Multiplikator, the German subsidiary of Denmark’s Semco Maritime, for a newly built commissioning service operation vessel (CSOV). The vessel, Norwind Maestro, will be deployed to support operations at the 400 MW Global Tech I offshore wind farm in…

  • Sapura Energy rebrands as Vantris Energy

    Sapura Energy rebrands as Vantris Energy Malaysian offshore services company Sapura Energy has now officially changed its name to Vantris Energy, following a shareholder vote. The name change came into effect on August 1. The rebranding is part of the company’s wider regularisation plan aimed at stabilising its financial footing and resetting its corporate direction.…

  • ‘Unexciting’ container market sees liner CFOs adjusting full-year forecasts

    ‘Unexciting’ container market sees liner CFOs adjusting full-year forecasts The outlook for the second half of 2025 in the global container shipping market is shaping up to be a disappointing one, with weak demand, overcapacity, and trade policy turbulence leading liners to rethink their full-year financial outlook. Today saw Japan’s Ocean Network Express revise downwards…

  • Malaysia cracks down on illegal ship-to-ship transfers

    Malaysia cracks down on illegal ship-to-ship transfers Malaysia has introduced new regulations to combat illegal ship-to-ship (STS) oil transfers in its territorial waters, a move that could disrupt operations of the so-called shadow tanker fleet moving sanctioned oil to China. Under the new rules, vessels caught conducting unauthorised STS operations will face immediate detention, with…

  • Diana Shipping reaches near 10% stake in Genco

    Diana Shipping reaches near 10% stake in Genco Greek dry bulk owner Diana Shipping has increased its stake in US-listed peer Genco Shipping & Trading. Filing with the US Securities and Exchange Commission shows the Semiramis Paliou-led Diana paid a total of around $61.7m for 4.29m of Genco’s shares, corresponding to a 9.99% stake. In…

  • Electricity blackouts are a blessing for shipping

    Electricity blackouts are a blessing for shipping Pierre Aury provides readers with a history of electricity generation and why the push for renewables could still be a net positive for shipping.  Shipping’s been carrying growing volumes of fossil fuels for a longer period of time than anticipated. That’s in no small part down to Tesla. No,…

  • Hutchison faces court challenge for control of ports in Panama

    Hutchison faces court challenge for control of ports in Panama The future of two of Panama’s most strategic ports is hanging in the balance after president José Raúl Mulino said on Thursday that public-private partnerships could assume control of the Balboa and Cristobal terminals if the courts strike down the operating contract of Hong Kong-based…

  • Nexans and Crowley team up for first Jones Act cable lay barge

    Nexans and Crowley team up for first Jones Act cable lay barge France’s Nexans has partnered with US-based Crowley Wind Services to develop and operate the first Jones Act-compliant cable lay barge, tailored for offshore wind, telecom, and subsea industrial cabling. The 300-foot barge, built in Louisiana and tested in the Gulf of Mexico to…

  • Costamare reveals four-ship newbuild play in China

    Costamare reveals four-ship newbuild play in China Greek containership owner Costamare is the latest liner player to return to the newbuilding market, revealing an order for four 3,100 teu vessels from an undisclosed Chinese shipyard. The New York-listed company said in its second-quarter earnings that the newbuilds will deliver between the second and fourth quarters…

  • South Korea to invest $150bn in US shipbuilding

    South Korea to invest $150bn in US shipbuilding South Korea has agreed to invest $150bn into a dedicated US shipbuilding revitalisation fund, as part of a $350bn bilateral trade agreement signed Wednesday in Washington. The move—touted as the largest Korean industrial investment in US history—aims to inject new life into America’s struggling shipyards while simultaneously…

  • US Treasury unleashes largest Iran shipping sanctions since 2018

    US Treasury unleashes largest Iran shipping sanctions since 2018 In its most expansive sanctions package against Iran in nearly seven years, the US Treasury has imposed sweeping measures on over 100 individuals, companies, and vessels linked to Iranian maritime and sanctions-evasion network. The action, unveiled Wednesday, is aimed at dismantling what the US calls a…

  • Discount hotel rooms go on sale for next year’s Geneva Dry

    Discount hotel rooms go on sale for next year’s Geneva Dry Special priced hotel rooms are now ready for booking for next year’s Geneva Dry, the world’s premier annual commodities shipping summit, scheduled for April 28 and 29. Organisers have secured room discounts at the Hotel President Wilson, the five-star establishment hosting the event. Facing…

  • Castor seals $14.6m leaseback for kamsarmax bulker

    Castor seals $14.6m leaseback for kamsarmax bulker Cyprus-based bulker and boxship owner Castor Maritime has completed a sale and leaseback transaction with a Japanese counterparty for one of its kamsarmaxes. The Nasdaq-listed company has struck a deal for the 2011-built Magic Thunder, with the 83,400 dwt vessel bringing in about $14.6m. The vesssel will remain…

  • CMA CGM eyes Hutchison Ports as MSC deal falters

    CMA CGM eyes Hutchison Ports as MSC deal falters French shipping and logistics giant CMA CGM has confirmed it is eyeing the potential acquisition of terminals from CK Hutchison, after exclusive talks between the Hong Kong conglomerate and a consortium led by BlackRock expired over the weekend.  The preliminary deal, first announced in March, involved…

  • US rail giants in $85bn coast-to-coast tie-up

    US rail giants in $85bn coast-to-coast tie-up Union Pacific has struck a deal to acquire rival railroad Norfolk Southern in a stock-and-cash transaction valued at $85bn, in a move that would form the first coast-to-coast freight rail network in the US. The combined operator would span more than 50,000 route miles across 43 states and…

  • Greta Shipping enters market with three Middle East – India Subcontinent loops

    Greta Shipping enters market with three Middle East – India Subcontinent loops New feeder entrant Greta Shipping is launching three dedicated services connecting the Middle East and the Indian Subcontinent. The company, a Singapore-registered subsidiary wholly owned by Chinese conglomerate Xiamen C&D, will officially launch its operations in mid-August, according to Alphaliner. Greta Shipping’s JKX…