Port of Rotterdam Expects Container Traffic to Remain High in 2022
Container traffic at the Port of Rotterdam has reached a record level this year and is expected to be high again in 2022, Europe's largest sea port said on Wednesday.The port said that it had received 15 million containers this year up until Wednesday, marking the first time a European port had reached that level.Container freight, measured in the equivalent of twenty-foot long containers (TEU), has increased at least 5% in 2021 from last year…
Shipping Giants Will Plot Course for Landbound M&A
Shipping giants are heading for port, but not in the traditional sense. Companies like Denmark’s A.P. Moller-Maersk and Germany’s Hapag-Lloyd are riding a record valuation wave thanks to a year of sky-high container rates. Gobbling up land-based logistics rivals would be one use for the cash burning a hole in their pockets. It would also serve as a handy buffer against future supply-chain crunches.Pandemic upheaval has benefitted the shipping industry.
New Dredges Enter Service in Bangladesh
DSC Dredge and Deep Diggers Ltd announced the launch of a new 18-inch Shark Class dredge manufactured in Bangladesh.In 2019 U.S.-based cutter suction dredge manufacturer DSC Dredge signed a memorandum of understanding with Deep Diggers Ltd, Bangladesh with a project focus of providing an engineering design and component package. Deep Diggers imported all the dredge components from DSC including the Caterpillar diesel engine…
Dry Bulk: Capesize Rates Hit Lowest in Seven Months
The Baltic Exchange's dry bulk sea freight index declined on Wednesday, pressured by lower rates across the capesize vessel segment, recording its lowest level since June.The overall index, which factors in rates for capesize, panamax and supramax vessels, lost 65 points, or 2.8%, to 2,229, its lowest since April 14Rates for the vessels have further eroded into the current week ahead of the holidays, shipbroker Intermodal said in a weekly note dated Tuesday.The capesize index fell 208 points, or
Solstad Offshore Gets Grant to Cut Offshore Vessel Emissions
Norwegian offshore vessel owner Solstad Offshore ASA has received an 87 million crowns (~$9.79 million) grant from Innovation Norway to reduce emissions from its fleet.Including the funds from Innovation Norway, the company plans to invest investing more than 300 MNOK ($33.73 million) in battery hybrid conversion projects. Solstad Offshore is planning for a 50% global fleet emission reduction by 2030, with eleven vessels planned to be upgraded over the next three years.
Madagascar Boat Accident: Death Toll Rises to 64
At least 64 people have died in a boat accident off the coast of northeastern Madagascar and searches were underway for 24 missing passengers, the maritime agency said on Wednesday.Fifty survivors were found, the Maritime and River Port Agency said.The vessel, a cargo ship that was not authorized to transport people, was overloaded and water flooded the engine, said Mamy Randrianavony, director of…
Maersk to Buy LF Logistics for $3.6B
Container shipping giant Maersk on Wednesday agreed to buy Hong Kong-based LF Logistics for $3.6 billion in an all-cash deal, as it seeks to expand beyond its core ocean freight business.The deal is one of the group's largest takeovers to date and follows a series of acquisitions including e-commerce firms, a freight forwarder specializing in air freight and its smaller rival Hamburg Sud."The acquisition will further strengthen Maersk's capabilities as an integrated container logistics company…
Louis Dreyfus Armateurs Names Beffa CEO
Edouard Louis-Dreyfus, Louis Dreyfus Armateurs' chairman of the executive board, has decided, in agreement with the supervisory board chaired by Philippe Louis-Dreyfus, to adopt a new governance for the French shipping company effective January 1, 2022.Kamil Beffa has been appointed CEO, succeeding Gildas Maire who is stepping down as CEO to become advisor to the chairman of the executive board.In addition…
Austal USA Wins Navy Contract for NGLS Design Study
Austal USA said it was awarded a contract to perform design studies for the U.S. Navy’s Next Generation Logistics Ship (NGLS) program. This contract requires Austal to develop a new baseline design and perform specific trade studies for the Navy’s newest logistics ship. Austal, as the shipbuilder and design agent, will be the prime contractor.“Austal is excited to begin work on another U.S. Navy steel shipbuilding program,” Austal USA President Rusty Murdaugh said.
Partners Aim to Develop Low Pressure Solutions for CO2 Shipping
Energy companies Equinor, Shell, TotalEnergies, Gassco and classification society DNV have commenced a new joint industry project (JIP) to develop low-pressure solutions for the transportation of CO2 by ships. The CETO (CO2 Efficient Transport via Ocean) JIP will carry out the technology qualification of a low-pressure ship design and identify solutions to scale CO2 transportation volume, while reducing the associated risks, to support the development of opportunities in CCS.
OCIMF Overhauls Its Tanker Inspection Program
The Oil Companies International Marine Forum (OCIMF) is overhauling its Ship Inspection Report Program (SIRE) by introducing tablet-based inspections, a more comprehensive inspection process, and enhanced policies and procedures from Q2 2022. The new program, SIRE 2.0, will facilitate a risk-based approach to assessing the safety and quality of a vessel and its crew on an ongoing basis, but will require a “change in mindset” from industry…
MEYER WERFT Delivers Cruise Ship AIDAcosma to AIDA Cruises
German shipbuilder MEYER WERFT announced Tuesday it has handed over the AIDAcosma to Carnival's German line AIDA Cruises. The 337-meter-long AIDAcosma runs on cleaner-burning liquefied natural gas (LNG). Sister ship AIDAnova, delivered in 2018, was the world's first cruise ship with this propulsion systemThe newbuild is the fourth cruise ship delivered by MEYER WERFT since the pandemic began.According to the yard…
Boluda Towage Acquires Caledonian
Boluda Towage and GEG (Holdings) Ltd have signed an agreement for Boluda to acquire Caledonian’s towage activities and marine operations, together with the management, office staff and crew, based in Invergordon, Scotland.After the official closing of the transaction, Caledonian will be part of Boluda Towage’s organization in the United Kingdom. The local management team of Caledonian Towage will be headed by Andrew Murray as Operations Director…
Carnival's Long-term Demand Indicates Omicron Threat Will Fade Soon
Carnival Corp on Monday flagged a hit to its near-term bookings from Omicron, even as demand for cruises late next year and beyond suggest a short-lived impact from new coronavirus variants.Shares of Carnival gained 3.3% as the cruise operator said new COVID-19 variants have not had a significant impact on its plan to return its full fleet to operations in the spring of 2022.The fast-spreading COVID-19 Omicron variant has been a cause of concern over the last month…
UAE Joins the Association of Asian Classification Societies
The Emirates Classification Society (TASNEEF), an initiative of the UAE’s Ministry of Defense, announced it has been accepted as a member in the Association of Asian Classification Societies (ACS) following a detailed evaluation of its technical capabilities and performance efficiency of its standards and specifications.This achievement, which comes around the same time as the UAE’s reelection to IMO Council under category B for the third time…
Baltic Dry Index Extends Fall as Vessel Rates Slide
The Baltic Exchange's dry bulk sea freight index fell for the ninth straight session on Tuesday, hovering near an eight-month low, tracking a retreat across its vessel segments.The overall index, which factors in rates for capesize, panamax and supramax vessels, shed 77 points, or 3.3%, to 2,294, its lowest since April 14."It seems that the overall market has already entered a correction path just a breath before the close of the year," Allied Shipbroking said in a weekly note.The capesize index
KVH Launches VSAT Services for Vessels in Indian Waters
maritime VSAT provider KVH Industries, Inc. announced it has launched satellite connectivity services that will allow vessels to use KVH connectivity while operating in Indian territorial waters. In addition, KVH will offer satellite connectivity services to Indian flagged vessels. Station Satcom Private Ltd, an existing KVH service provider based in Mumbai, will be KVH’s distribution launch partner in India.“With the award of the license by the Department of Telecommunications of India…
Cargo Ship Illegally Carrying Passengers Sinks off Madagascar
A vessel accident off the coast of northeastern Madagascar killed at least 19 people, and searches were under way to locate 66 passengers who remained unaccounted for, the country's maritime agency said on Tuesday.The vessel, a cargo ship that was not authorized to transport people, was overloaded and water flooded the engine, said Mamy Randrianavony, director of operations at sea at the Maritime and River Port Agency (APMF).There were 130 passengers on the ship…
Suez Canal to Reduce Rebates on Tolls for LNG Carriers
Egypt's Suez Canal will reduce rebates on canal tolls for liquefied natural gas carriers from Jan.
Wärtsilä Installs 'Unique' Hybrid Power System on Paolo Topic Bulk Carrier
Finland-based marine tech group Wärtsilä said Tuesday it had installed and commissioned a unique hybrid power system combined with a PV solar energy system in collaboration with Marfin Management and Solbian, onboard the Paolo Topic bulk carrier.Wartsila said that the new features make the Paolo Topic "one of the most technologically advanced vessel of its type in the global fleet."The Paolo Topic…