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INTERCARGO Bulk Carrier Casualty Report highlights positive improvement in safety of dry bulk shipping

Annual casualty figures from INTERCARGO, the International Association of Dry Cargo Shipowners, highlight continuing improvement in the safety performance of the sector. The Association’s Bulk Carrier Casualty Report records the yearly loss of vessels* and lives across the dry bulk sector, with the intention of monitoring the impact of safety measures in the sector across the globe. The bulk carrier fleet has grown significantly in recent years to cater for the world’s growing economy. Between 2014 and 2023 the number of vessels increased by 20% (to 12,200 according to the ...

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DP World Wins Four Finance And Sustainability Awards

DP World secured a series of prestigious finance awards in the last week, recognising its groundbreaking achievements in innovative infrastructure solutions and sustainable finance. The global leader in supply chain solutions took home four awards form three separate events – the Loans above £750 million Award, Refinance Deal of the Year, Transport Deal of the Year and the Corporate Bond Deal of the Year for its 10-year Green Sukuk. These accolades solidify DP World’s position as a frontrunner in both conventional and Islamic finance, while showcasing its commitment to environmentally ...

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SAAM Terminals highlighted the value of data to optimize operations at TOC Europe 2024

SAAM Terminals played an active role at TOC Europe 2024, a conference in Rotterdam that brings together the main companies and executives in the maritime-port industry. The company was part of a panel about innovation and artificial intelligence where it shared how it is using data to optimize terminal operations. “This event is an opportunity to share best practices from our terminals across the Americas. We discussed the importance of decision making based on data obtained from various sources, such as terminal equipment and cranes, as well as from the ...

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Port Of Tanjung Pelepas Wins Industry Excellence Award 2024

Port of Tanjung Pelepas (PTP), a joint venture between Malaysia-based MMC Group and Netherlands-based APM Terminals, proudly clinched this year’s Industry Excellence Award or Anugerah Kecemerlangan Industri (AKI) for the Services Sector in Category 4, reflecting its dedication to merit and pursuit of high performance. This esteemed accolade recognises PTP’s admirable achievements and contributions as a leading player in the maritime industry, celebrating its status as a source of national pride among the top companies in the country. AKI was introduced by the then Ministry of International Trade and Industry ...

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AEGIR-Marine expands propulsion services to hydraulics

AEGIR-Marine has launched a new propulsion hydraulics workshop from its office in Dubai that offers ship-owners comprehensive overhaul and repair services of propulsion equipment such as controllable pitch propellers, azimuth and tunnel thrusters. By extending its propulsion services scope to encompass hydraulics, AEGIR-Marine will now be able to provide its clients in the Middle East region with a ‘total package’ of propulsion services that includes both mechanical and hydraulic aspects. Housed in a 40-foot container, AEGIR-Marine’s new propulsion hydraulics workshop is fitted out with all the necessary equipment to work ...

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Tuticorin Container Terminal Welcomes First Crane Shipment

J M Baxi Ports & Logistics, a leading name in India’s port and logistics sector, proudly announces the arrival of the first crane shipment at their fully owned container terminal, Tuticorin International Container Terminal Pvt. Ltd. This milestone event marks a significant step towards enhancing the operational capacity and efficiency at the Tuticorin port. The inaugural shipment, which berthed on June 8, 2024, includes one Rail Mounted Quay Crane (RMQC) and five electric Rubber Tyred Gantry Cranes (eRTGs). This delivery is part of a comprehensive equipment plan designed to optimize ...

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Strategic Marine Enters Into Memorandum Of Understanding With Mainprize Offshore For Six New Supa Swath Vessels, With Options For Six More

Following the recent successful delivery of two Supa Swath Vessels to the established UK based operator Mainprize Offshore, Strategic Marine is proud to announce that we have entered into a Memorandum of Understanding (MoU) for the acquisition of six state-of-the-art Supa Swath vessels, with an option for an additional six vessels. This strategic agreement looks to further enhance their fleet capabilities and expand their operational excellence. The entering of this MoU was done by Mr Chan Eng Yew, Chief Executive Officer of Strategic Marine together with Mr Bob Mainprize, Managing ...

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Telenor Satellite changes its name to Space Norway

Space Norway emerges as a leading actor in the Northern European space sector. Following its acquisition by Space Norway Group in January 2024, Telenor Satellite will now be recognised by its new name, Space Norway. As a result of this transaction, Space Norway Group is now Northern Europe’s leading satellite services provider and a key player in the European space sector. Space Norway provides critical satellite services to governments, commercial maritime, land-based industries, and major broadcasters. With a portfolio of satellites, submarine cables and teleport infrastructure, the company serves clients ...

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Asia Fuel Oil-Benchmarks rangebound while Singapore inventories climb

Singapore fuel oil benchmarks were rangebound on Thursday, while onshore inventories recovered for a third straight week. Cracks for the low-sulphur (VLSFO) market held stable above $8 a barrel, though trade sources continued to eye the weakness in gasoline margins. Meanwhile, high-sulphur 380-cst (HSFO) cracks hovered at discounts of about $6 a barrel. Spot benchmarks were largely rangebound in recent trading sessions, capped by incoming supply replenishment, according to sources. Onshore fuel oil stockpiles in Singapore rose for a third straight week, led by recovering net imports, which more than ...

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U.S. East Coast port union strike threat to test shippers’ nerves

Labor talks at U.S. ports on the East Coast and Gulf of Mexico are a looming risk for retailers, manufacturers and other shippers already grappling with longer transit times and higher costs. The International Longshoremen’s Association contract covering 45,000 dockworkers at three dozen ports stretching from Maine to Texas expires on Sept. 30. If there is no deal by then, the union could call a strike that would hit during the vital holiday container shipping season and labor-friendly U.S. President Joe Biden’s bid for reelection. The ILA on Monday called ...

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MOL establish JV with INDU for self-operated warehouses in JAFZA Dubai- Enhancing regional logistics infrastructure

MOL Middle East FZE, a 100% subsidiary of Mitsui O.S.K. Lines Group and a strategic management company in the Middle East, has joined forces with INDU KISHORE LOGISTIC LLC (hereinafter “INDU”), a prominent warehousing entity based in Dubai. Together, they have inked a joint venture agreement aimed at establishing a new company that will oversee self-operated warehouses strategically located within Dubai’s esteemed Free Zones. These Free Zones serve as crucial trade gateways to both the Middle East and Africa, underlining the significance of this collaboration in enhancing regional logistics infrastructure. ...

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MABUX: Bunker Prices Expected to Trend Higher Next Week

During Week 24, the MABUX global bunker indices showed robust growth across all segments. The 380 HSFO index rose by 7.74 USD, moving from 536.75 USD/MT last week to 544.49 USD/MT. The VLSFO index increased by 10.97 USD (633.73 USD/MT versus 622.76 USD/MT last week). The MGO index saw the most significant rise, adding 22.09 USD (from 801.93 USD/MT last week to 824.02 USD/MT). At the time of writing, the upward trend moderately continued in the global bunker market. MABUX Global Scrubber Spread (SS) – the price difference between 380 ...

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German wholesale prices fall 0.7% in May

German wholesale prices fell by 0.7% in May compared with the same month last year, according to data released by the federal statistics office on Thursday. The office offers more detailed economic data on its website. Source: Reuters

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Greece must reform to protect tourism, ombudsman says

Greece needs to reduce rampant construction and protect water resources and coastal areas if it wants to maintain a healthy tourism industry across its mountainous mainland and beach-lined islands, the country’s ombudsman said in a report on Thursday. Some 33 million people visited Greece in 2023, 5 million more than a year earlier, drawn by its ancient archaeological sites, turquoise Mediterranean waters and reliably sunny weather. But in a report released on Thursday, the ombudsman warned of the growing environmental risks and called for urgent reform. “Our country’s economy relies ...

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Port Hedland Iron Ore Exports Up 8%

Pilbara Ports delivered a total monthly throughput of 68.8 million tonnes (Mt) for May 2024. This throughput was a 10 per cent increase compared to May 2023. The Port of Port Hedland achieved a monthly throughput of 52.7Mt, of which 51.9Mt was iron ore exports. This was an eight per cent increase to total throughput compared to May 2023. Imports through the Port of Port Hedland totalled 192,000 tonnes, a decrease of two per cent compared to May 2023. The Port of Dampier delivered a total throughput of 15.0Mt, a ...

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