Five new ships are on their way to Ukrainian sea ports using a new corridor opened to resume predominantly agricultural exports, an alternative arrangement to the Black Sea grain deal blocked by Russia, the MarineTraffic database showed on Sunday. The MarineTraffic database showed earlier on Sunday that three cargo vessels left Ukrainian Black Sea ports after loading, the latest to sail since Kyiv set up a temporary “humanitarian corridor” after Russia quit a deal allowing safe passage for Ukraine exports. The database identified the five vessels heading towards the ports ...

The Panama Canal, a vital international trade and logistics conduit, has recently been plagued by persistent low water levels, leading to shipping restrictions and delays. While these disruptions have significantly impacted global supply chains, they also present an opportunity for businesses to re-evaluate their logistics strategies. One solution that stands out for its ability to mitigate such disruptions is the implementation of Supply Chain Control Towers. Alternative routes, a reduction in cargoes, and a new limit on the number of ships that transit the Panama Canal daily are the measures ...

ClassNK has released “Guidelines for Fuel Cell Power Systems On Board Ships (Second Edition)”, which cover safety provisions related to the design of ships powered by fuel cells as well as fuel cell power systems themselves, coming in anticipation of the growing adoption of fuel cells in maritime transport. Fuel cells are power systems that use electrical energy obtained from the chemical reaction between hydrogen and oxygen. Notably, they do not emit CO2 during electricity generation, positioning them as a potential solution to help reduce GHG emissions from shipping. On ...

A key stretch of the lower Mississippi River dropped this week to within inches of its lowest-ever level and is expected to remain near historic lows just as the busiest U.S. grain export season gets underway, according to the National Weather Service. Low water has slowed hauling of export-bound corn and soybean barges over recent weeks as shippers lightened loads to prevent vessels from running aground and reduced the number of barges they haul at one time to navigate a narrower shipping channel. The water woes come at the worst ...

Jan De Nul Group orders Fleeming Jenkin, an extra-large cable-laying vessel, at the CMHI Haimen shipyard. With an unrivalled cable-carrying capacity of 28,000 tonnes, the vessel will serve the renewable energy and subsea cable industry in installing cables over longer distances and in deeper waters. The vessel will be delivered in 2026. Installation assets and human resources for the offshore energy industry are a top priority at Jan De Nul. Offshore wind farms go deeper and further offshore, and the interconnectivity between countries and regions become essential for the economy ...

The Finance Ministry has notified changes to the IGST Act exempting payment of 5% integrated GST under reverse charge mechanism on ‘ocean freight’ on imports by CIF (Cost, Insurance and Freight) contract, with effect from 1st October 2023. Vijayendra Parvataneni, President MANSA the leading Association of the shipping Agencies that operate at Mumbai Port, Jawaharlal Nehru Port primarily and Pan India, hailed the government’s exemption of 5% integrated GST on ‘ocean freight’ on imports from October 1, aligning with the Supreme Court Bench Justices D. Y. Chandrachud, Surya Kant and ...

MacGregor, part of Cargotec, has been chosen to deliver RoRo equipment for two of the world’s first methanol-fueled Pure Car and Truck Carriers (PCTC) for China Merchant Energy Shipping to be built at China Merchants Heavy Industry (Jiangsu) Co., Ltd. in China. The order was booked into Cargotec’s 2023 third quarter orders. The vessels are to be delivered to the owner between the third and fourth quarter of 2025. MacGregor´s scope of supply is to design and deliver the key components consisting of external and internal ramps, covers, electrically operated ...

The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships ferrying dry bulk commodities, recorded its best quarter in nine on Friday, helped by stronger demand for all vessel segments. The main index has gained about 57% for the month, its best since September 2022, and also registered a quarterly gain of 56%, having fallen the previous five quarters. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, edged down 15 points, or to 1,701. The capesize index slipped by 19 points, ...

With increasing sanctions, divergent programmes, and confusing regulations, shipping companies must adapt and invest heavily in compliance measures. Speaking at a Reed Smith seminar at London International Shipping Week, Alexander Brandt, a partner in the law firm’s Transportation Industry Group and the lead member of its sanctions practice, highlighted the importance of proactive engagement in shaping the future of sanctions in shipping. Keeping up with the evolving sanctions landscape has become a formidable challenge for industry players, Brandt said, emphasising three “inescapable truths” that have emerged in recent years. First, ...

Global seaborne trade will return to growth in 2023 as the shipping industry emerges from post-pandemic supply chain issues and adapts to changing cargo flows in the wake of Russia’s invasion of Ukraine, the UN Conference on Trade and Development said Sept. 27. In its annual Review of Maritime Transport report, UNCTAD said maritime trade volume will expand by 2.4% this year after contracting by 0.4% in 2022 as “the industry remains resilient.” However, In July, the International Maritime Organization set targets to reduce life-cycle greenhouse gas emissions from cross-border ...

The CMA CGM Group, a global player in sea, land, air and logistics solutions, has been named Best Global Shipping Line for the third consecutive year at the 2023 Asian Freight, Logistics and Supply Chain Awards (AFLAS) last evening. Voted by industry stakeholders, customers, global shippers and readers of Asia Cargo News, the accolade reaffirms their resounding confidence in CMA CGM as the global ocean carrier of choice. Facilitating global trade through 275 shipping services A member of the Ocean Alliance, CMA CGM facilitates global trade through container shipping to ...

Drewry’s World Container Index decreased by 5.1% to $1,404.38 per 40ft container this week. Our detailed assessment for Thursday, 28 September 2023 The composite index has decreased by 5.1% to $1,404.38 this week, and has dropped by 65% when compared with the same week last year. The latest Drewry WCI composite index of $1,404.38 per 40-foot container is now 1% below than average 2019 (pre-pandemic) rates of $1,420. The average composite index for the year-to-date is $1,747 per 40ft container, which is $932 lower than the 10-year average rates of ...

ClassNK is hosting the “EU-ETS Seminar -Get Ready for EU Allowance in the Shipping Sector-” in Singapore, inviting experts in EU Allowance (EUA) trading. It aims to share insights and guidance to help shipping companies prepare for the upcoming carbon credit scheme required for ships operating in EU waters. Following the recent amendments to the EU Directive for EU Emissions Trading System (EU-ETS) that extend its scope to the shipping sector, shipping companies will be mandated to manage EUA based on their annual GHG emissions from voyages falling under this ...

Despite industry and government efforts, dangerous cargo that has not been declared, or that has been incorrectly declared or labelled, continues to cause fires and explosions, hurting and killing vessel crew and transportation staff. In response to this continued safety challenge the World Shipping Council (WSC), representing liner carriers, is taking additional action to strengthen cargo safety standards and protect the lives of the people working in the supply chain, the environment, and the integrity of the global supply network. Over the past decade, containership fires have seen a disturbing ...

Medsea, an International SOS company and a leading provider of health services to thousands of seafarers worldwide, provides their top four commercial maritime health trends for the remainder of 2023. The medical team analysed case data for 2023 so far, to help make predictions for the months ahead, during the colder months of the northern hemisphere winter. Seafarers are often exposed to many occupational risk factors and face tough and harsh working conditions. The demanding working environment, which includes exposure to noises, chemicals, vibrations as well as isolation can lead ...