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Thursday, December 13, 2018

Pic: Autoridad Portuaria de la Bahía de Algeciras

Hispano-Chinese MoU for Ports

The Port of Algeciras Authority (APBA) Chairman, Manuel Moron, and the Ningbo Zhoushan Port Group Chairman, Mao Jianhong, signed a Memorandum of Understanding (MoU) that is set to formalize co-operation between both of the logistics powerhouses and increase commercial flow between Southern Europe and Asia. According to the port and harbour of Algeciras, the MoU was rubber-stamped during the official state visit to Spain of the Chinese President,  Xi Jinping, who - together with the Spanish Prime Minister…

“Nobody, not even the opposing sides in this evolving economic conflict, seems to know what is going to happen next,” said Xeneta CEO Patrik Berglund.“Nobody, not even the opposing sides in this evolving economic conflict, seems to know what is going to happen next,” said Xeneta CEO Patrik Berglund. (Photo: Xeneta)

Xeneta: Watch Both Sea and Air Amid Trade War Tensions

As the ongoing trade war between the US and China continues to send tremors of uncertainty through the global economy, Xeneta is advising senior executives to keep a close eye on fluctuating ocean and air freight rates. In an unpredictable geopolitical environment, highlighted by last week’s arrest of Huawei’s CFO in Canada, the leading freight rate benchmarking and market intelligence platform says shippers need agile logistics strategies, with the option of shifting transportation mode whenever necessary.“Nobody…

File Image: CREDIT: Port of Portland, UK

Baltic Index Slips on Weaker Capesize Demand

The Baltic Exchange's main sea freight index, tracking rates for ships ferrying dry bulk commodities, slipped on Wednesday as capesize vessel rates declined.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 11 points, or 0.8 percent, to 1,353 points.The capesize index fell 30 points, or 1.4 percent, to 2,153 points. Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal, decreased by $269 to $16,808.The panamax index dipped 9 points, or 0.6 percent, to 1,445 points.

Image of LNG carrier to be built by NYK Line

NYK in Charter Agreement with Mitsubishi

Japanese shipping and logistics giant Nippon Yusen Kabushiki Kaisha (NYK) has signed long-term contracts with Diamond Gas International Pte. Ltd. (DGI), a wholly owned subsidiary of Mitsubishi Corporation (MC) located in Singapore, for DGI to charter from NYK three newly built liquefied natural gas (LNG) carriers.Previously, NYK concluded long-term time-charter contracts for three new LNG vessels for MC’s Cameron LNG project, so these most recent contracts bring the total to six carriers for MC.The NYK Group will be responsible for ship management for the three ordered LNG carriers…

M/v Ismene. Pic: Diana Shipping Inc.

Diana Shipping in TC Pact for m/v Ismene with Koch

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Koch Shipping Singapore, for one of its Panamax dry bulk vessels, the m/v Ismene.The a global shipping company specializing in the ownership of dry bulk vessels said in a press note that the gross charter rate is US$12,125 per day, minus a 5% commission paid to third parties, for a period until minimum January 1, 2020 up to maximum March 31, 2020.The charter is expected to commence on December 12, 2018, it said.

Photo: Kalmar

Kalmar Books Order for 30 Ottawa Terminal Tractors

Kalmar, part of Cargotec, has secured an order to supply a total of 30 Kalmar Ottawa T2 Terminal Tractors to the Tecon Santos container terminal in Brazil, operated by Santos Brasil Participações S.A. The order was booked in Cargotec's third quarter 2018 order intake, with delivery of the machines scheduled to take place through the first quarter of 2019.Tecon Santos is located in the largest port in Latin America and is one of Brazil's leading logistic company and biggest container terminal.

file Image / AdobeStock / © Nightman 1965

China, U.S. Discuss Road Map for Continuing Trade Talks

China and the United States discussed a road map for the next stage of their trade talks on Tuesday during a telephone call between Vice Premier Liu He, U.S. Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer.U.S. President Donald Trump and Chinese President Xi Jinping agreed at a Dec. 1 meeting in Argentina to a truce that delayed a planned Jan. 1 U.S. increase of tariffs to 25 percent from 10 percent on $200 billion worth of Chinese goods.Lighthizer said on Sunday that unless U.S.-China trade talks wrapped up successfully by March 1…

File Image / AdobeStock / © Lidian Neeleman

Baltic Index Snaps Winning Streak as Capesize, Panamax Rates Sag

The Baltic Exchange's main sea freight index, tracking rates for ships ferrying dry bulk commodities, marked its first decline in last six sessions on Tuesday, weighed down by weaker demand for capesize and panamax vessels.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 21 points, or 1.5 percent, to 1,364 points.The capesize index snapped its five-day winning streak and dropped 2.7 percent, or 61 points, to 2,183 points. Average daily earnings for capesizes…

Image: American Shipping Company

OSG Extends Charter of AMSC's Nine Tankers

Florida-based provider of energy transportation services delivering crude oil and petroleum products Overseas Shipholding Group (OSC) and American Shipping Company (AMSC) jointly announced that OSG has exercised options to extend its charter agreements with AMSC for nine vessels currently under charter from AMSC.AMSC is a  Norwegian-American shipping and shipyard company and part of the Aker Group."A Charter agreements for five of the vessels were extended for additional three-year terms, commencing from December 2019 and ending in December 2022.

Image: CMA CGM

Global Ship Lease Sings TC with CMA CGM

UK-based containership lessor Global Ship Lease (GSL) has agreed five-year charters with CMA CGM for the 2015-built, 6,882 TEU containerships UASC Bubiyan and UASC Yas.The containership charter owner said in a release that the new charters, which are in addition to the four similar charters announced on November 9, 2018, will commence upon the expiry of the current charters during the second quarter of 2019, are for a period of five years and are at a rate of $25,910 per day, up from $20…

Photo courtesy of Panama Canal Authority

Panama Canal Signs Deal with Port of Itaqui

The Panama Canal signed a Memorandum of Understanding (MOU) with Port of Itaqui, located in the northeastern region of Brazil, to promote the shipment of grains and other cargoes in the commercial route between the north of Brazil through the Panama Canal to destinations located in the Pacific Ocean.The Port of Itaqui, located in São Luís, Maranhão, is the Brazilian port closest to the Panama Canal and has the infrastructure and connectivity necessary to move these exports to markets in Asia.

File Image / Credit AdobeStock © Lucasz Z

Stronger Capesize Demand Propels Baltic Index Still Higher

The Baltic Exchange's main sea freight index, tracking rates for ships transporting dry bulk commodities, rose for the fifth straight session on Monday, buoyed by stronger capesize rates.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 13 points, or about 1 percent, to 1,385 points.The capesize index climbed 2.1 percent, or 47 points, to 2,244 points, highest since Nov. 6. Average daily earnings for capesizes, which typically transport 170…

Pic: Panama Canal Authority

Chinese Consortium Bags USD 1.4bln Panama Bridge Project

The government of Panama gave a US$1.4 billion contract to build a bridge over the Panama Canal to Panama Cuarto Puente, a Chinese consortium.Panama Cuarto Puente consortium or so-called Panama Fourth Bridge Consortium,  composed of China Communications Construction Company (CCCC) and its unit China Harbour Engineering Company (CHEC), will design and build a bridge over the Panama Canal.According to a report in Reuters, the 6.5-km (4-mile) bridge will have six car lanes and a two-way metro line.

Pic: NYK Line

NYK Line Signs TC for Two LNG Carriers with Total

Japanese shipping giant NYK has signed a long-term contract with a unit of French energy giant Total to charter two liquefied natural gas (LNG) carriers.According to the contract, Total Gas & Power Chartering Ltd (TGPCL) will charter from NYK two newly built liquefied natural gas (LNG) carriers that will be built by Samsung Heavy Industries Co. Ltd. in Korea and scheduled for delivery in 2021.The two LNG carriers will be equipped with a WinGD-made dual-fuel slow-speed diesel engine (i.e.…

Image CREDIT: AdobeStock / © Kastor

Strong Capesize Rates lift Baltic Index to One-month High

The Baltic Exchange's main sea freight index, tracking rates for ships ferrying dry bulk commodities, rose for the fourth straight session to touch a one-month high on Friday, boosted by strong demand for capesize vessels.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 33 points, or 2.5 percent, to 1,372 points, a peak level since Nov. 6.The capesize index surged 5.6 percent, or 117 points, to 2,197 points. Average daily earnings for capesizes…

File Image: AdobeStock / © Leeylutung

Diesel-Loaded Tankers Stranded off Asia as Demand Wanes

Several tankers carrying diesel fuel are floating off Taiwan and Southeast Asian waters as a steep fall in oil prices kept buyers at bay, trade and shipping sources said on Friday, helping push rates to their highest since January 2016.With tanker rates also boosted by strong Chinese oil exports, it was a big relief for an industry that has been in the doldrums for the past three years.About seven to nine long-range tankers carrying about 5 to 7 million barrels of diesel are currently floating off Taiwan waters largely due to a drop in bunker fuel demand from the South China Sea…

Photo: ADNOC Logistics & Services

ADNOC, Inpex in LNG Bunkering Pact

ADNOC Logistics & Services (ADNOC L&S), a wholly-owned subsidiary of UAE's ADNOC, has signed an agreement with Japan's Inpex Corp to collaborate on LNG bunkering activities.Under the agreement, ADNOC L&S and Inpex will explore opportunities for LNG bunkering in the UAE as well as the potential to jointly expand LNG bunkering activities to cover other regions, including Southeast Asia, said a press release from the Abu Dhabi-based integrated shipping and logistics company.The use…

File Image (CREDIT AdobeStock / © Leonid Eremychuk

Baltic Index Gains on Stronger Broad Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for the third straight session on Thursday, supported by strong demand across vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 43 points, or 3.3 percent, to 1,339 points.The capesize index rose 8.1 percent, or 155 points, to 2,080 points. Average daily earnings for capesizes, which typically transport 170…

Vincent Touya, Managing Director of Dachser's U.S.-based operation (IMAGE: Dachser)

Dachser Names Touya to Head U.S. Management Team

Touya brings 30 years of successful company development to American supply chain endeavors.Dachser has named Vincent Touya as Managing Director of its U.S. based organization. Mr. Touya is from France and has been with the family-owned company for over 30 years.Mr. Touya will join Dachser at its U.S. Regional Office in Atlanta on February 1, 2019 and succeeds Frank Guenzerodt, who had been with Dachser for 14 years. Mr. Guenzerodt was in charge of transforming Dachser USA from a small country organization into a key pillar of Dachser’s global network.Guido Gries…

An aerial view of the NWSA Seattle docks (CREDIT: NWSA)

NWSA's Terminal 18 Breaks Records with 2018 Volume

SSA Marine’s Terminal 18 surpassed 1 million twenty-foot equivalent units (TEUs) in yearly container volume last week, marking the first time in Washington state history that a single marine terminal handled a million TEUs in a year.Located in the North Harbor of The Northwest Seaport Alliance, the terminal is on track to top 1.1 million TEUs by the end of 2018. “We are proud to announce that Terminal 18 has handled over 1 million TEUs so far this year,” said Courtney Gregoire, Port of Seattle commission president and co-chair of the NWSA.

File Image: CREDIT CMA CGM

CMA CGM, Freightos Ink Digitization Pact

CMA CGM becomes the first ocean carrier listed on Freightos; direct digital sales, booking, and shipment management on CMA CGM key transpacific trade lanes now available on Freightos.The CMA CGM Group, a worldwide leading shipping group, and Freightos, the world’s online freight marketplace, are pleased to announce they have signed an ambitious pilot agreement whereby CMA CGM has become the first ocean carrier listed on Freightos. Online bookings, guaranteed pricing, and secured capacity on CMA CGM China-US trade lanes are available on the platform…

Atypical LNG carrier enroute to berth. (File image / Adobestock / © Fotmart

Floating LNG in Asia Finds Buyers as Prices Plunge

Nine or more tankers on the way or discharged into Asia, while at least five still holding LNG off Singapore.Several liquefied natural gas (LNG) cargoes that had been stored on vessels in Asian waters are now heading towards buyers' terminals in China, Japan or South Korea as spot prices for the super-chilled fuel have plunged this week to multi-month lows.At least nine LNG tankers are now on their way or have already offloaded cargoes to buyers after floating off Singapore, Malaysian or South China waters for up to two months…

Image: Baker Hughes

BHGE Inks 3-year Contract with Saudi Aramco

Saudi Aramco has awarded major stimulation and well-testing contract to Baker Hughes, a GE company (BHGE). BHGE will deliver a comprehensive well services solution including all cased-hole wireline logging, perforation, well testing, stimulation, fracturing and associated intervention services.By integrating discrete products, services and capabilities into a single offering, BHGE will help Saudi Aramco reduce time, costs and complexity while increasing efficiency.The three-year…

File Image: a bulk carrier alongside and loading in the port of Portland, UK (CREDIT: port of Portland)

Baltic Index Snaps 4-day Losing Streak

The Baltic Exchange's main sea freight index, tracking rates for ships transporting dry bulk commodities, marked its first gain in five days on Tuesday, helped by firmer rates across vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 34 points, or 2.8 percent, to 1,237 points.The capesize index snapped four straight sessions of losses and gained 6.2 percent, or 101 points, to 1,739 points. Average daily earnings for capesizes…

File Image: a fully laden LNG tanker transits the Med in this recent image. Credit: Robert Murphy

Rising Ship Supply Eases LNG Charter Rates

Limited availability drove LNG shipping rates to highs; but prices now falling as more ship supply becomes available.Inflated spot charter rates for liquefied natural gas (LNG) tankers are easing as more ships becoming available, which could help increase LNG trade if Asian demand rises in coming months.LNG charter rates are a key component of spot LNG trade, dictating the way the super-cooled gas is transported. Charter rates usually follow the price of LNG, which has fallen since September due to sluggish demand from Asian buyers.Rates have remained high for most of this year…

Image: Hyundai Merchant Marine

Hyundai Merchant Marine to Say Good Bye to 2M Alliance?

South Korea's largest shipping firm Hyundai Merchant Marine (HMM) is likely to part ways with the 2M Alliance which will expire in April 2020 and join  a new ocean alliance said a local media report.According to a report in Business Korea, the 2M Alliance (consists of Maersk Line and MSC) is disadvantageous to HMM as it is not a full member of the alliance. HMM's status fell as the 2M Alliance inked a partnership deal with Israel's Zim Integrated Shipping Services, the report…

Photo: Konecranes

Konecranes Hybrid RTGs for Port Houston

Konecranes has won an order from long-term customer Port Houston, USA, for eight Konecranes RTGs equipped with hybrid power packs. These will be the first Konecranes hybrid RTGs to be delivered. The cranes will be delivered in Q1 2020 to the Barbours Cut Terminal. The order will be booked in Q4 2018. Port Houston, the international port of Texas, has been a Konecranes customer for over 15 years. The port currently operates 90 Konecranes diesel-electric RTGs.The new RTGs will be hybrid, for eco-efficient operation without compromising crane performance.

Image: Ørsted

Ørsted Hires Focus Consultants on Sustainable East Coast Offshore Hub

Focus Consultants has been appointed to deliver sustainability services for a new East Coast Hub for the offshore wind giant, Ørsted, which is currently building the biggest offshore wind farms in the world.Currently in construction on the Royal Docks at Grimsby, Lincolnshire, the building will represent a state-of-the-art operations and maintenance hub to support both the construction and operation of Ørsted’s offshore wind farms, from which they currently operate more than 1.2 gigawatts (GW) of capacity with a further 2.6GW under construction.“The construction…

Pic: MPCC

MPC Container Ships Buys More Scrubbers

Norwegian oner and operator of container vessels MPC Container Ships (MPCC) has exercised options to equip additional five vessels with exhaust gas cleaning systems.The scrubber investments are expected to be financed with cash on hand and available debt capacity on the MPCC's existing fleet.The Oslo-headquartered company said in a press release that it has also agreed charters for six scrubber-retrofitted boxships."The charterparties will be initiated after scrubber retrofitting and with a duration into 2022.

Dave Thompson, Managing Director. Photo: Subsea Innovation

Subsea Innovation Bags Two Contracts with Royal IHC

Subsea Innovation, the supplier engineered equipment and technology used in the installation of subsea equipment for the offshore oil and gas, has announced two high profile contract wins with Royal IHC, as part of a collaborative framework agreement.A press release from the  offshore energy engineering compmany said that  will be supporting their client Royal IHC Limited on the design, development, manufacture and supply of back deck equipment on two projects to be completed throughout 2018 and 2019."For both projects…

Pic: Tsakos Energy Navigation

TEN Finds Work for Suezmax Tanker

Tsakos Energy Navigation (TEN) has announced the charter with profit sharing provisions of one suezmax tanker for 18 months to a major oil concern.The Greek shipping company pointed out hat this increases the number of vessels fixed on secured revenue contracts since the beginning of the year to 24, the majority of which on rates with upside optionality.These charters have an average duration of two years and are expected to add a minimum of $250 million to fleet revenues, it…

Pic: Scorpio Bulkers

Scorpio Bulkers Updates on New TC

Scorpio Bulkers announced  that it has entered into a time charter-out agreement one of its Ultramax drybulk carriers for a period of between five and seven months.The  provider of marine transportation of dry bulk commodities said that the 64,000-dwt SBI Libra (built 2017) will earn $15,250 per day. However, it did not name the charterer.Scorpio Bulkers announced last month that it has entered time charter-out agreements for seven of its Ultramax vessels and four of its Kamsarmax vessels.

Photo: Port of Corpus Christi

Port of Corpus Christi: $59m for Channel Upgrades

The U.S. Army Corps of Engineers (USACE) announced its Fiscal Year (FY) 2019 Work Plan, which includes an additional $59 million in funding for the Corpus Christi Ship Channel Improvement Project (CIP). This funding brings the total Federal appropriations for the CIP to $95 million. The estimated CIP cost is $360 million, of which the federal government is responsible for $230 million, while the Port of Corpus Christi is responsible for the remaining $130 million. To date, the Port of Corpus Christi has transferred $78 million of its own funds to the USACE…

Image: Royal Boskalis Westminster N.V.

Boskalis Wins USD 283 mln Contract from Ostwind

Dutch dredging Royal Boskalis Westminster N.V. (Boskalis) has been awarded a sizable export cable installation contract for the Ostwind 2 offshore grid connection.A press release from the global services provider operating in the dredging, maritime infrastructure and maritime services sectors said that the contract was awarded by 50Hertz and carries a value for Boskalis in excess of EUR 250 million (USD 283.45 mln) making this the largest cable installation contract acquired by…

Image: Horizon Maritime

Nordic American Offshore Shelves Horizon Maritime Combination

The owner and operator of platform supply vessels (PSVs) Nordic American Offshore (NAO) has informed that its project to combine with Horizon Maritime Services has been called off.A stock exchange announcement from the Bermuda-based company said: "The contemplated business combination, involving NAO and a group in Eastern Canada (Horizon Maritime), has been shelved as it has been decided not to move forward at this time."It added that a Nordic company (Nordic Canadian Shipping…

Pic: Kongsberg Maritime

Kongsberg Marine Bags Award for DPS

The state-of-the-art DPS i-Series Differential Positioning System has won the ‘Innovative Dredging Technology of the Year’ category at the Dredging and Port Construction Awards 2018.The judges highlighted the unique system as a powerful tool for dredging contractors who can now leverage the same abilities for high-precision applications as offshore operators; using sensor technology combined with satellite positioning systems to improve not just the position of dredging vessels but also their efficiency.Ines Nastali…

Image: Sapura Energy

Sapura Energy Wins Contracts in Mexico, Malaysia

Malaysia-based integrated oil and gas services Sapura Energy Berhad has strengthened its presence in Mexico and Malaysia with new contract wins valued at approximately RM1.75 billion (USD 410 mln).The new contracts have lifted the company’s orderbook to RM18 billion and total contract wins to-date for this financial year to RM7 billion (USD 1.68 bln).Sapura Energy has built capabilities and expertise that are critical to support its clients in their quest to meet global energy demand and as a result…

Pic: Exmar

Exmar Bags FLNG Contract from YPF

Belgium's Exmar and YPF of Argentina announced the signing of a firm, ten-year agreement to deploy Exmar’s barge-based floating LNG liquefaction unit (FLNG) currently known as Caribbean FLNG to produce and export LNG from the Vaca Muerta source at the Neuquén Basin in Argentina.The project marks the entry of Argentina to the select club of global LNG exporting nations, with an initial plan to export 500,000 tons of LNG per year to overseas markets.Exmar’s FLNG barge will be named Tango FLNG and be deployed to the port of Bahia Blanca.

M/v Alcmene. Photo: Diana Shipping Inc

Diana Shipping Fixes m/v Alcmene with BG Shipping

Greece-based Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with BG Shipping Co., Limited, Hong Kong, for one of its Post-Panamax dry bulk vessels, the m/v Alcmene.The global shipping company specializing in the ownership of dry bulk vessels said in a press note that the gross charter rate is US$11,500 per day, minus a 5% commission paid to third parties, for a period of minimum 11 months to maximum 14 months.

Expedition Vessel Magellan Explorer. Image: V.Group

V.Ships Wins Magellan Explorer Contract

The global marine and offshore vessel management and support services provider V.Group said that its V.Ships Leisure unit has been awarded a contract by Antarctica21 for the technical management of the expedition vessel, Magellan Explorer.The 100-guest Magellan Explorer is currently under construction at Asenav in Chile and due to be delivered in October 2019, the ship management company company said.The vessel, which is being built to the new polar code and is uniquely customised for fly-cruises in Antarctica…

Sideris. Pic: Diana Shipping Inc

Diana Shipping Signs TC for m/v Sideris GS

Diana Shipping  announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Berge Bulk Shipping Singapore, for one of its Capesize dry bulk vessels, the m/v Sideris GS, for a period until minimum December 15, 2019 up to maximum March 30, 2020.The global shipping company specializing in the ownership of dry bulk vessels said that the gross charter rate is US$8,500 per day for the first 30 days of the charter period and US$15,350 per day for the balance period of the time charter…

Image: Daewoo Shipping and Marine Engineering

Daewoo Shipping and Marine Engineering Posts Q3 Loss

The South Korean shipbuilding major Daewoo Shipbuilding & Marine Engineering (DSME) has posted a net loss in the third quarter from a year earlier due to one-off losses.According to a stock exchange announcement by the world’s second-largest shipbuilder by orders, the net loss reached 323.9 billion won (US$285.1 million) in the three months ending Sept. 30 from a net profit of 74.9 billion won during the same period last year.DSME's operating profit in the third quarter fell 9.6…

Pic: Linde Group

Linde Group Bags Chinese LNG Contract

The technology company The Linde Group has been awarded a contract from Chinese chemical and energy company Inner Mongolia Huineng Coal Chemical Co Ltd to supply a mid-scale LNG plant near Beinichuan in Inner Mongolia."This will be Linde’s seventh and largest LNG plant to date in China and is in response to growing demand from customers in China," said a release from the company.Linde's Engineering Division will be responsible for engineering, procurement and site services for the LNG plant with a nameplate capacity of 750…

Pic: Klaveness Combination Carriers

Klaveness Combination Carriers Extends Contract with South32

Norwegian shipping company Klaveness Combination Carriers (KCC) said that it has signed an agreement with South32 Marketing Pte Ltd extending the current Contract of affreightment (COA).According to the owner and operator of combination carriers, the COA is for shipments of caustic soda to Worsley Alumina Pty Ltd, South32’s alumina refinery located in Western Australia.Through this agreement, the term of the COA is extended by three years from January 2019 to December 2021 with…

file Image: AdobeStock / © Eremeychuk

Baltic Index Edges Higher on Firmer Capesize Demand

The Baltic Exchange's main sea freight index, tracking rates for ships ferrying dry bulk commodities, rose for the second straight session on Friday, boosted by stronger capesize demand.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 11 points, or 1.1 percent, to 1,031 points. However, the index has declined for the fourth consecutive week, and has lost nearly 30 percent in the last two weeks.The capesize index rose 5 percent, or 50 points, to 1,057 points.

Photo: Carnival Cruise Line

Meyer Turku Cuts Steel for New Carnival Cruise Ship

The cruise ship builder Meyer Turku started the production of a 5,286-lower berth cruise ship for Carnival Cruise Line.According to German shipbuilder, the ship will be the first North American-based cruise ship to run on iquefied natural gas (LNG) and will also be the largest Carnival cruise ship ever built with 180,000 gross tonnage (GT).With the first steel cutting the physical form of the ship will start to takeshape. The new Carnival ship will offer a variety never-before…

Photo: BIMCO

BIMCO Overhaules Standard Ship Repair Contracts

BIMCO, the largest of the international shipping associations representing shipowners, said that it has revised and updated its two standard ship repair contracts: REPAIRCON, which is for major work at a repair yard; and MINREPCON, which is for minor repair work that can be done by contractors when a ship is in port.Both contracts were approved at BIMCO’s Documentary Committee in Copenhagen on 13 November. Modifications and improvements have been made to the REPAIRCON contract…

M/V Thetis. Pic: Diana Shipping Inc

Diana Shipping Fixes M/V Thetis with Hudson

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Hudson Shipping Lines Incorporated for one of its Panamax dry bulk vessels, the m/v Thetis.According to the global shipping company specializing in the ownership of dry bulk vessels, the gross charter rate is US$10,650 per day, minus a 3.75% commission paid to third parties, for a period of minimum 14 months to maximum 17 months.The charter is expected to commence tomorrow.

Pic: Seanergy Maritime Holdings

Seanergy Maritime in Leaseback, Refinancing Pact with Cargill

The dry bulk cargo shipping company Seanergy Maritime Holdings announced has successfully concluded the refinancing of the 2011-built Capesize M/V Championship through a leasing agreement with Cargill International.The Nasdaq listed shipping company based in Greece informed that the refinancing has released approximately $7.8 million of liquidity for the Company.Pursuant to the agreement, the Company has chartered back the Vessel on a bareboat basis and subsequently entered it…

M/V Maia. Pic: Diana Shipping

Diana Shipping Fixes M/V Maia with Glencore

The provider of shipping transportation services Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Glencore Agriculture B.V., Rotterdam, for one of its Kamsarmax dry bulk vessels, the m/v Maia.The global shipping company specializing in the ownership of dry bulk vessels said in a press release that the gross charter rate is US$13,300 per day, minus a 5% commission paid to third parties, for a period until minimum January 1, 2020 up to maximum March 31, 2020.

Pic: CMA CGM

Global Ship Lease Bags New TC with CMA CGM

Containership lessor Global Ship Lease, announced a new time charter with ANL, a wholly owned subsidiary of CMA CGM, for the 2003-built, 2,207 TEU containership GSL Keta (formerly Delmas Keta).The containership charter owner informed that the new charter, commencing on or around November 20, 2018, is for a period of between seven and 10 months (at charterer’s option) at a rate of $8,450 per day, up from $7,800 per day under the preceding charter.The company incorporated in the Marshall Islands has also exercised options to extend the existing charters of the 2002-built…

(Georgia Ports Authority / Stephen B. Morton)

Savannah Achieves All-time TEU Record in October

The Port of Savannah moved more container cargo in October than any other month in its history, with 413,800 twenty-foot equivalent container units crossing its docks. Containerized trade at the Port of Savannah has increased by 8 percent for the fiscal year to date (July-Oct. 2018), totaling 1.53 million TEUs - up 113,000 compared to the same period last year.Last month's performance marked the 24th consecutive month of positive year-over-year growth for the Southeastern gateway.Intermodal rail cargo grew by 8.7 percent for the month, compared to October 2017.

 Image: Wood

Wood Secures Major Contracts in Abu Dhabi

Aberdeen-based energy services firm Wood been awarded three new, call-off contracts totaling $53 million by ADNOC Onshore, a subsidiary of Abu Dhabi National Oil Company (ADNOC).Project management consultancy (PMC) services will be provided for major projects across the company’s onshore fields in Abu Dhabi, aimed at supporting ADNOC’s group-wide production capacity target of 4 million barrels of oil per day by 2020.Creating around 100 new jobs in-country, the five-year contracts…

Pic: CMA CGM

Poseidon Containers Inks TC with CMA CGM

The containership charter owner Global Ship Lease (GSL) announced that Poseidon Containers, with which it has entered a definitive merger agreement, has agreed five-year time charters with CMA CGM for four of its 6,927 TEU containerships, Mary, Kristina, Katherine and Alexandra.The charters will deliver incremental annualized EBITDA of approximately $11.0 million compared to third quarter 2018 contracted rates. The new charter for Mary commenced recently, and the remaining three new charters will commence upon expiry of their existing charters during the first half of 2019.

Photo: Port of Oakland

Port of Oakland Cargo Volume Up in Trade War, But Can It Last?

A U.S.-China tit-for-tat over tariffs hasn’t dampened cargo volume growth at the Port of Oakland. In fact, the Port is on track for its third straight year of record container volume in 2018.But can it last? That’s the question supply chain experts pondered this week at the quarterly meeting of the Port’s Efficiency Task Force. Forty trade and transportation executives ranging from longshore labor representatives to cargo owners gathered to discuss trade dynamics. Their consensus: cargo volume is spiking right now but could drop by January.“We’re peaking,” said a major U.S.

Panos Kirnidis BEng, MSc - CEO of PISR  (Photo: PISR)

Palau Lines Up with BIMCO

Palau International Ship Registry (PISR) is the latest registry to join the world’s largest international shipping association representing ship owners, operators, managers, brokers and agents. PISR has grown to become one of the premier SMART ship registries and joining BIMCO offers unique opportunities for the registry to work alongside some of the biggest names in the maritime sector.BIMCO is recognized throughout the shipping world for the clarity, consistency and certainty of its standard maritime contracts and Panos Kirnidis…

File Image: AdobeStock / © Lucasz Z

Baltic Index Losing Streak Continues as Capesize Rates Drag

The Baltic Exchange's main sea freight index, tracking rates for ships transporting dry bulk commodities, fell for the eighth consecutive session on Thursday, pressured by weakness in the capesize segment.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 73 points, or 5.6 percent, to 1,231 points, its lowest since June 4.The capesize index declined for the seventh straight session, tumbling 221 points, or 11.2 percent, to 1,747 points - also its lowest since June 4.

Signing of the third SunStone Ships contract on a vessel in the INFINITY class. Photo: Ulstein Design & Solutions

SunStone Orders Third Expedition Cruise Vessel at CMHI Yard

Miami-based  SunStone Ships has declared option number two at CMHI shipyard after signing a long-term charter contract with Victory Cruise Line for the vessel, with a total of three newbuilds now under construction at the Chinese yard.A press release from the manager of passenger ships across the globe said that it  originally placed one firm contract and nine options on Ulstein deliveries of expedition cruise vessel designs and equipment packages back in 2017.All ten vessels are part of SunStone Ships’ series of vessels in the ‘INFINITY-class’.

Pic: Sempra Energy

Sempra Energy Signs New Mexican LNG Terminal

Sempra Energy, the US group that aims to build a liquefied natural gas (LNG) export facility near Ensenada, Mexico, to serve customers in Asia moved closer to becoming reality as the natural gas utilities holding company  announced agreements with three international firms.The San Diego-based company announced in a press release that  that its subsidiaries Infraestructura Energetica Nova  (IEnova) and Sempra LNG & Midstream have signed three Heads of Agreements (HOAs) with affiliates of Total, Mitsui & Co. and Tokyo Gas Co.

Orion Bags $10 Mln Dredging Contract

Specialty construction company Orion Group Holdings, Inc. said it has been awarded an approximately $10 million dredging contractThe deal was awarded to company’s marine segment from the U.S. Army Corps of Engineers for the dredging of the Sabine-Neches Waterway in Orange and Jefferson counties, Texas, including the lower reach of the Neches River, the Sabine-Neches Canal and Turning Basin and the Port Arthur Canal.The project is expected to begin late in the fourth quarter of 2018 with a duration of approximately six months.

Image: TOP Ships

TOP Ships Signs New TC with BP

Greece-based ship-owning company TOP Ships announced that it has agreed a new time charter employment contract for 2 years with BP Shipping Ltd for its product/chemical tanker M/T Eco Revolution.The international owner and operator of modern, fuel efficient “ECO” tanker vessels currently focusing on the transportation of crude oil and petroleum products, said in a press release that the new time charter will commence in January 2019 immediately after the expiry of the present…

Daewoo Wins Contract to Build Three Vessels

Daewoo Shipbuilding & Marine Engineering says it signs $273 mln order.Daewoo Shipbuilding & Marine Engineering Co Ltd says has signed an order worth 306 billion won ($272.51 million) for three oil container ships from a European shipowner. Source: Eikon:Reporting by Joori Roh

Gulfport as it appears today.

Gulfport’s Long Road Back From Hurricane Katrina

When Jonathan Daniels, executive director of the Mississippi State Port Authority at Gulfport spoke to the audience at the annual state of the port luncheon July 27, 2018 at the newly rebuilt Island View Casino, he had a lot to offer in terms of jobs. And he had two aces in the hole: SeaOne, an untested compressed liquefied gas company and Yilport, a terminal company operated by an ambitious Turkish port developer. Both had letters of intent dating back two years with much to do.As has been the case since before Daniels took over from Don Allee in 2013…

Photo: Kalmar

Kalmar Bags Eurogate Order

Kalmar, part of Cargotec, is to deliver two rubber-tyred gantry cranes (RTGs) to EUROGATE, Europe's leading shipping line-independent container terminal operator, for use in their Tanger S.A. terminal in Morocco.The order was booked in Cargotec's 2018 Q3 order intake, with delivery scheduled to take place during Q3 of 2019. The EUROGATE Tanger container terminal is conveniently located on the Strait of Gibraltar in Morocco, making it the ideal transhipment hub for the western Mediterranean…

File Image: CREDIT CMA CGM

CMA CGM Completes Containerships Acquisition

The CMA CGM Group has completed the acquisition of Containerships, a container-transportation and logistics company.The European Commission authorized this transaction on October 22nd. Containerships, which specializes in the intra-European market, will complement CMA CGM’s service offering.Containerships, a European door-to-door specialistFounded in 1966, Containerships is a Finnish company specialized in Intra-European containerized trade with 690 employees. Containerships offers its clients a complete range of high-quality services…

Cruise Shipping: Virgin Orders a Fourth Ship from Fincantieri

Fincantieri and Virgin Voyages signed a $791m contract for the construction of a fourth cruise ship, which will be delivered at the end of 2023.The new vessel will be a sister-ship of the three ships on order with Fincantieri. Construction is underway  at the Sestri Ponente shipyard (Genoa) and the first three ships will enter Virgin Voyage’s fleet respectively in 2020, 2021 and 2022.The fourth vessel will be approximately 110,000 gross tons, 278 meters long and 38 meters wide.

Photo: ESL Shipping Ltd.

ESL, Nauticor Sign Long-term LNG Supply Contract

The Finnish shipping company ESL Shipping and Hamburg based Nauticor GmbH & Co. KG have signed a long-term contract for the supply of Liquefied Natural Gas (LNG) in the port of Oxelösund. The contract contains the provision of the environmental-friendly fuel for the handy size bulk carriers “Haaga” and “Viikki”.The vessels are the first of their kind to use LNG and started operations in the Baltic Sea region in October 2018. They are equipped with ice class 1A and, thereby, can operate under the most difficult weather conditions.

(L-R) Bastian Gehnke of Navis, Thiemo Ullrich from Zeaborn, an Yuvraj Thakur and Julien Dufour of Verifavia Shipping at SMM 2018 (Photo: Verifavia)

Verifavia Signs with Two Ship Managers

Verifavia, an emissions verification company for the transport sector (aviation and shipping), has announced major cooperation’s with two of the world’s largest ship managers, namely Wallem Ship Management in Hong Kong and Zeaborn Ship Management in Hamburg (a consolidation of E.R. Schiffahrt and Rickmers Shipmanagement), to conduct verification services for European Union (EU) Monitoring Reporting and Verification (MRV) and the International Maritime Organization’s (IMO) Data Collection System (DCS)…

(File photo: BW Group)

Pavilion Inks Long-term LNG Charter Deal with BW

Singapore's Pavilion Energy has signed an agreement with commodities shipper BW Group for the long-term charter of two newly built liquefied natural gas (LNG) vessels, the company said on Monday.The 173,400 cubic meter vessels, expected to be delivered between 2019 and 2020, will add to Pavilion's global portfolio and boost its LNG trading expansion, the company said.The M-type, electronically controlled, gas injection (MEGI) vessels offer environmental benefits through greater efficiency and lower carbon emissions, it added."The long-term charters of these MEGI newbuilds ...

A St. Lawrence Seaway bulk vessel (SLSMC)

St. Lawrence Seaway Workers Ratify Contract

The St. Lawrence Seaway Management Corporation (SLSMC) has announced that its unionized employees, members of UNIFOR, ratified a three-year labor agreement covering the period of April 1, 2018 to March 31, 2021.Terence Bowles, President and CEO of the SLSMC, praised the negotiating teams for achieving another multi-year agreement, and said, “A fair labor settlement was reached earlier this month, enabling the St. Lawrence Seaway to continue providing uninterrupted service to the thousands of entities that depend upon marine transportation…

Photo: SpecTec

SpecTec Partners with iMarine Software

AMOS now offers integration with SeaProc, providing seamless electronic quotation management for an optimized procurement cycle. Seaproc also offers sourcing tools within it platform to achieve cost efficiency.Marine buying organizations can now enjoy significant speed, accuracy and ease in handling transactions. Requests for Quote, Quotations, Purchase Orders, Contracts, Invoicing and Delivery Receipts are directly interfaced with Amos. This allows buyers to conduct all their daily activities within the Amos platform as all communications…

© Mike Cullom / MarineTraffic.com

Scorpio Charters Out Eight Bulk Carriers

Dry bulk shipping company Scorpio Bulkers Inc. announced Tuesday that it has entered time charter-out agreements for seven of its Ultramax vessels and four of its Kamsarmax vessels.

Challenger software main menu, taken on board the Hapag-Lloyd vessel Callao Express (Photo: Poseidon Navigation Services)

Poseidon Navigation Services Inks Deal with Hapag-Lloyd

Global container carrier Hapag-Lloyd has appointed Poseidon Navigation Services Ltd as the supplier of all Chart Management Services for the fleet managed by Hapag-Lloyd Hamburg.The appointment, announced after an in-depth evaluation process, starts immediately and will include Poseidon Navigation Services’ ‘Challenger’ software platform which will provide weekly updates for all Admiralty products, both paper and digital.Thomas Gunn, Managing Director at Poseidon Navigation Services…

Flex Endeavour. Pic: FLEX LNG Management AS

FLEX LNG Orders Five LNG Carrier Newbuilds

Flex LNG, the shipping company controlled by billionaire John Fredriksen, is entering into a transaction for the acquisition of five 5th generation LNG newbuildings comprising three MEGI LNG carriers and two X-DF LNG carriers.According to a release from the shipping company, that owns and operates LNG carriers, and floating storage and regasification units, the MEGI LNG carriers are currently under construction at Daewoo Shipbuilding and Marine Engineering Co. Ltd. (DSME) with…

A BW vessel underway. CREDIT BW LPG

BW LPG: Proposal to Combine with Dorian Withdrawn

BW LPG Limited (BW LPG) announced that it has withdrawn its proposal to combine with Dorian LPG Ltd. (Dorian). BW LPG will also withdraw the candidates it previously intended to nominate to stand for election to the Dorian board at Dorian’s 2018 Annual Meeting of Shareholders.BW LPG also announced that the following letter has been sent on October 8, 2018 to the Chairman, President and Chief Executive Officer of Dorian:Mr. John HadjipaterasChairman, President and Chief Executive OfficerDorian LPG Ltd.c/o Dorian LPG (USA) LLC27 Signal RoadStamford…

Left to right: Lars Lippuner, Head of Commercial Operations, Warsash School of Maritime Science and Engineering; Alex Ponomarev, Area Sales Manager, Wärtsilä; Muhammad Shafique, Senior Lecturer, Warsash School of Maritime Science and Engineering; Syamantak Bhattacharya, Dean, Warsash School of Maritime Science and Engineering (Photo: Wärtsilä)

Wärtsilä to Supply Marine Simulators in Southampton

Wärtsilä has been selected to provide a full scope of marine simulators for a new training facility at Solent University’s Warsash School of Maritime Science and Engineering, located in Southampton, England.Scheduled to complete in spring 2019, it will be the largest marine simulation training center in the U.K. The contract with Wärtsilä, which was booked in September 2018, is linked to a five-year continuous service agreement.“The simulation center will be a central pillar of our maritime education…

Pic: NYK Line

NYK Signs LNG Charter Deal with Total

NYK Line has signed a contract with Total Gas & Power Chartering Limited (TGPCL), a subsidiary of Total, a leading oil and energy company headquartered in France.The contract calls for TGPCL to charter from NYK a newly built liquefied natural gas (LNG) carrier for seven years, with an optional extension period of one year. The new vessel will be built by Samsung Heavy Industries Co. Ltd. in Korea and is due to be delivered in 2021.The LNG carrier will be equipped with a WinGD-made dual-fuel slow-speed diesel engine (i.e.…

(Photo: Babcock International Group)

Babcock Wins Newcastle Helicopter Marine Pilot Contract

Babcock Australasia announced it has been awarded a further contract for helicopter marine pilot transfer services at the Newcastle Port, following a competitive tender process.Under the contract, Babcock will provide aircraft, pilots, engineering personnel and maintenance staff to ensure the safe transportation of marine pilots to ships located 3 to 8 nautical miles offshore. This continues the services that Babcock has provided at the Port since 1999.“This new contract reinforces…

Photo: TNG

Trafigura Concludes TNG's Dalmacija Charter

Commodity trading company Trafigura has terminated a time charter contract for chemical/product tanker Dalmacija with Croatian shipping company Tankerska Next Generation (TNG). "After nearly three years from delivery, TNG and Trafigura have mutually agreed to conclude an almost fully utilized time charter employment contract for the eco-designed MR product tanker Dalmacija," said a press release from the Croatian tanker owner.The vessel has been redelivered with compensation for early re-delivery…

Image by Amsterdam Port

Samskip Introduces New Shortsea Route to Antwerp,UK.

Samskip is launching a new shortsea service connecting Antwerp and Hull, in an expansion of its continent-UK multimodal network that also sees it debut at Belgium’s largest port.The intermodal logistics company  said in a press release that the initial schedule offers a twice weekly short sea container service, with its first departure from Antwerp on the 12th October.The service will be operated by a 508TEU capacity vessel, sailing from ATO's multimodal terminal on Tuesday and…

(Photo: Van Oord)

Polish Fairway Dredging Contract Awarded

A major modernization contract for the deepening and widening of a 62 km section of the Świnoujście – Szczecin fairway in Poland has been awarded to Van Oord and DEME Group subsidiary Dredging International.The investment by the Maritime Office in Szczecin will improve access to the Szczecin seaport and increase the port capacity to handle a growing volume of cargo.The project is a design and build contract to deepen and widen the fairway along a section of approximately 62 km from -10.5 to -12.5 m. The dredged materials will be used to build two artificial islands in the Szczecin lagoon.

Image: Mumbai Port Trust, India

Tech Mahindra to Manage Indian Ports

Indian Ports Association (IPA) has appointed Tech Mahindra as the Managed Service Provider for five major ports. This is the first such outsourcing deal in the major ports.Tech Mahindra will build and maintain an enterprise business system (EBS) to modernise and automate port processes at five Central government-owned port  at Mumbai ,Kolkata, Chennai, Deendayal Port  and Paradip Port Trust.This initiative is a major step towards integrating the maritime sector and fostering growth…

(File photo: Hyundai Merchant Marine)

Hyundai Merchant Marine to Spend $2.8 Bln on 20 Containerships

South Korea's largest shipping line Hyundai Merchant Marine (HMM) said it will invest 3.153 trillion won ($2.84 billion) for 20 new large containerships to be delivered by June 2021.In June this year, the company signed letters of intent for ship orders with South Korea's top three shipbuilders Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering (DSME) and Samsung Heavy Industries.DSME and Samsung will build seven and five 23,000 TEU vessels respectively, which are expected to deliver in the second quarter of 2020.

Image: Knutsen OAS shipping

KNOT Concludes TC Contract for Two Shuttle Tankers

Norway-headquartered Knutsen NYK Offshore Tankers (KNOT) has concluded a time-charter contract for two shuttle tankers with Equinor ASA for a maximum 20-year period starting in the second quarter of 2020.KNOT is a NYK Group company, in which NYK has a 50 percent share.The contract aims to use two 152,000 DWT Suezmax tankers equipped with dynamic-positioning systems built by Hyundai Heavy Industries Co. Ltd. to shuttle crude oil produced in waters off Brazil.Upon commencement of this contract…

The Houston industrial refining complex (File Image: CREDIT AdobeStock / © Irina K)

Proposed Rate Hikes for Houston Ship Pilots Under Fire

No less than 15 shipping companies, many of them top 10 liner companies, have written to Port of Houston Chairman Janice Longoria to reject the latest call for substantial rate hikes on the Houston Ship Channel. Local pilots already earn salaries that approach $500,000 annually.Like any other major U.S. port, registered foreign flag vessels must use a local state pilot on the Houston Ship Channel. According to local shipping stakeholders, the rates for those mandated services have spiraled more than 50% in the past 14 years alone.The rate increase proposal…

Image: Novatek

Russia's Novatek Ships First LNG Cargo to Brazil

Russian natural gas producer Novatek has shipped its first LNG cargo to the Brazilian market with LNG produced from the Yamal LNG project.A statement from PAO Novatek said that its wholly owned subsidiary, Novatek Gas and Power Asia Pte. Ltd. has shipped its first LNG cargo to the Brazilian market with LNG produced from the Yamal LNG project. The cargo was delivered to the Bahia Regasification Terminal owned by Petrobras.“Our LNG marketing strategy aims to diversify our supply geography and customer base,” noted Leonid Mikhelson, Novatek’s Chairman of the Management Board.