As President of Trade Tech, I’ve seen how regulatory advancements like the European Union’s Import Control System 2 (ICS2-ENS) reshape global trade. ICS2-ENS isn’t just a new compliance requirement; it’s a foundational shift towards a more secure and efficient supply chain. ICS2-ENS brings Europe, the largest trading market in the world, in line with the other major importing markets such as the USA, Canada, Mexico, and Japan with an identical regulatory process and data configuration. The alignment of these regulatory processes for international trade creates an effective process and data ...

ECOsubsea launches its Ultra High Efficiency Hull Cleaning Service (UHEHCS) in Singapore, delivering on its customer promise to make ecofriendly solutions affordable and available. Hull cleaning pioneer ECOsubsea successfully introduced its powerful new ROV in Singapore, marking the launch at the 5th Singapore-Norway Innovation Conference (SNIC). Unprecedented Efficiency Extensive testing in the Singapore anchorage since August has demonstrated ECOsubsea’s advanced capabilities. Tests showed the ROV’s superior speed, operating 10 times faster than conventional cleaning methods. “We cleaned a fully laden capesize vessel, with an 18-metre draft, in just four hours,” ...

Donald Trump’s victory in the US Presidential Election is ‘a step in the wrong direction’ for international trade as importers fear another spike in ocean container shipping freight rates. Trump has vowed blanket tariffs of up to 20% on all imports into the US and additional tariffs of 60% to 100% on goods from China. Data from Xeneta – the ocean and air freight intelligence platform – shows the last time Trump ramped up tariffs on Chinese imports during the trade war in 2018, ocean container shipping freight rates spiked ...

The global commercial and defense maritime industry is on the cusp of a new era amid rising demand. With 20 percent growth forecast by 2030, the industry has an opportunity to refocus on shipbuilders, suppliers, and repair yards in the United States and Europe.1 But decades of underinvestment, long-standing reliance on institutional knowledge, and an ongoing gray-to-green workforce transition2 have contributed to diminished capacity.3 And the engineering, design, and production complexities of today’s ships would likely have challenged the infrastructure of leading yards even in their primes. Global commercial and ...

The Baltic Exchange’s dry bulk sea freight index rose on Wednesday, supported by a strong gain in the capesize vessel segment. The index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 22 points to 1,427 points. The capesize index rose 93 points to 2,060 points. Average daily earnings for capesize vessels which typically transport 150,000-ton cargoes such as iron ore and coal, increased $776 to $17,086. Iron ore futures slipped as investors shifted their focus to weak fundamentals of the key steelmaking ingredient from expectations of ...

Hapag-Lloyd has signed two contracts with two Chinese shipyards for a total of 24 new container ships. Of these, 12 newbuildings – each with a capacity of 16,800 TEU – will be built by Yangzijiang Shipbuilding Group. These units will be used to expand the capacity of services that are already in place. An additional 12 ships, each with a capacity of 9,200 TEU, have been ordered from New Times Shipbuilding Company Ltd. and will replace older units in the Hapag-Lloyd fleet that will be nearing the end of their ...

Asia’s cash premiums for both high-sulphur and low-sulphur fuel oil mostly held their ground on Wednesday, with market expectations little changed from the previous trading session. Bullishness in the 380-cst high-sulphur fuel oil (HSFO) markets remained, as arrivals from the Middle East are still likely to stay minimal for December amid planned maintenance there, one source said. Cash premiums for 380-cst HSFO closed at $13 per metric ton. In the very-low sulphur fuel oil (VLSFO) markets, trader expectations were still present for sufficient supplies in Singapore, given that some off-spec ...

Reducing energy consumption and replacing fossil with renewable fuels within the maritime sector is a large and global challenge. Governments, industries and research organisations globally have been actively exploring green solutions. In order to further accelerate innovation and transition, collaboration across the globe is key. “These important long-term commitments build on mutual goals, challenges and a history of good collaboration between the maritime sectors in Norway and Singapore,” said Arne Fredheim, Research Director in SINTEF Ocean. “The dialogue and exchange of knowledge with GCMD have been ongoing for some years ...

Northwest Europe All grades remain in tight supply for prompt dates in Rotterdam. HSFO now requires lead times of 7-10 days, while VLSFO and LSMGO need 5-7 days. Refinery maintenance work in Rotterdam has triggered the supply crunch, a source told ENGINE. The ARA’s independently held fuel oil stocks averaged 2% higher in October than across September, according to Insights Global data. The region imported 257,000 b/d of fuel oil in October, up from 229,000 b/d imported in September, according to data from cargo tracker Vortexa. The ARA imported low-sulphur ...

PALFINGER MARINE has been selected to supply its Polar Class lifeboats and davits package for the first fleet of ships in the Canadian Coast Guard’s Multi-Purpose Vessel (MPV) comprehensive renewal program. The program includes up to 16 shipsets to be built over the next 20 years as part of the Government of Canada’s National Shipbuilding Strategy. The contract covers the delivery of equipment for the first six of up to 16 vessels. This collaboration further extends PALFINGER MARINE’s long-standing partnership with Seaspan and the Canadian Coast Guard (CCG). Specialized equipment ...

Leading global maritime charity Stella Maris is pleased to announce the revival of its port chaplaincy service in the Northwest of England after an absence there of almost 10 years. The charity has appointed Merseyside born-and-bred Christopher Reynolds to the role with immediate effect. Christopher will initially cover the ports of Liverpool, Fleetwood, Maryport, Whitehaven and Barrow, with a view to expanding the charity’s work further to Holyhead, and potentially to the Isle of Man. “I am excited to be working in Liverpool, with its long seafaring history and ever-expanding ...

SFL Corporation Ltd. announced its preliminary financial results for the quarter ended September 30, 2024. Highlights 83rd consecutive quarterly dividend declared, $0.27 per share Net profit of $44.5 million, or $0.34 per share in the third quarter Received charter hire1 of $263.2 million in the quarter, including $4.2 million of profit share Adjusted EBITDA2 of $158.8 million from consolidated subsidiaries, plus $7.9 million adjusted EBITDA2 from associated companies Delivery of the newbuild LR2 product tankers SFL Taurus in August and SFL Tigris in October Delivery of the LNG dual-fuel 33,000 ...

Coach Solutions, a leading SaaS provider in the shipping industry, has upgraded its Valid Voyage optimisation solution to include live weather conditions and forecasts. The Weather Viewer functionality is available to both crew onboard ship and shoreside managers simultaneously. Data is included in a live map view and can also be accessed as a PDF if the ship is operating in a low bandwidth environment. Users can also step forward in time to explore potential risks based on forecast weather conditions up to 10 days in advance. Weather conditions continue ...

Pole Star Global, a pioneer in maritime technology and SOLAS-compliant Ship Security Alert Services, is thrilled to announce a strategic partnership with Ambrey, a leader in maritime risk management and intelligence. This collaboration integrates Ambrey’s Security Events service into Pole Star’s Podium platform, allowing mariners to stay informed about the latest security threats. These services are seamlessly incorporated into Podium’s Ship Security and Tracking modules, enhancing the platform’s comprehensive suite of features. The partnership creates a fully responsive Ship Security Alert Service (SSAS) and advanced covert tracking capabilities for managers ...

Freight Investor Services (FIS), the leading global freight and commodity brokerage, is pleased to announce the opening of its new office in the heart of Manhattan, New York. Located at 1120 Avenue of the Americas, this strategic expansion underscores the significance of the United States in the freight and commodities markets. Janet Mirasola has been appointed Branch Manager and will oversee the new office’s operations. This move strengthens FIS’s presence in the USA, especially in the context of heightened volatility in the freight market following the US elections and integrates ...