South American spot rate gap set to narrow as shippers take advantage of lower Far East to West Coast rates The latest ocean freight rate data from Xeneta reveals that spot rates are currently USD 3 700 more expensive for shipping 40’ containers from the Far East to the South American East Coast, compared to the West Coast corridor. This huge gap – the norm is usually around a USD 55 East Coast premium – has opened up since 1 July. However, shippers looking to take advantage of the disparity ...

Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through two separate wholly-owned subsidiaries, it has entered into two sale and leaseback agreements with two unaffiliated Japanese third parties for the 2015-built Capesize dry bulk vessel, m/v New Orleans, and the 2015-built Capesize dry bulk vessel, m/v Santa Barbara. Upon completion of the transactions, which are estimated to take place by the end of the third quarter of 2022, the Company’s gross proceeds will ...

ABS is supporting the first offshore supply vessel (OSV) in Malaysia to feature an innovative vessel design and battery system to support more sustainable operations. The new generation OSV will be designed to ABS Rules, and ABS New Technology Qualification (NTQ) procedures will evaluate the Blue G Battery System, a power source that can be charged by generator sets onboard as well as any sustainable solutions from the shore. With this technology, the vessel will save fuel and reduce its carbon footprint, operational expenses and life cycle costs. Delivered by ...

International Maritime Organization (IMO) has set ambitious goals to reduce shipping greenhouse gas (GHG) emissions by 50 % by year 2050. Discussion on lowering the emissions has largely been focused on using new green fuel options, such as hydrogen, ammonia and methanol. However, innovations and improvements in propulsion technology and hull form should not be forgotten. By developing efficient propulsion concepts, the fuel consumption can be reduced regardless of the used fuel type. Currently the propulsive efficiency of ships, meaning how much of the power delivered to the propeller can ...

From January to July of 2022, the cargo volume of Chinese ports was 8920.8 million tons, a year-on-year decrease of 0.1%; the container throughput of Chinese ports was 168.7 million TEU, a year-on-year increase of 4.2%. The chart below shows the cargo throughput and container throughput data of the twelve major ports in China. In terms of container freight rates, the average value of the Ningbo Container Freight index (NCFI) 1 in August was quotes 3242.1 points, have a decrease of 7.4% compare to last month. Market performance was relative ...

What a week for VLCCs! Lists have been thinning out and significant amounts of cargo have been worked across the board

We are approaching the end of the summer period which, traditionally , signals the beginning of the very active shipping market

Through this new step, the CMA CGM Group strengthens its initiatives to protect the environment and preserve biodiversity in the United States and worldwide. The CMA CGM Group, a global player in sea, land, air and logistics solutions, in partnership with Woods Hole Oceanographic Institution deployed a second acoustic monitoring buoy, aptly named CMA CGM Sea Guardian-Savannah, 39 miles off the coast of Savannah, Ga. The first was launched off the coast of Norfolk, Va., last month. The buoys are designed to increase North Atlantic right whale detection efforts along ...

Kongsberg Maritime (KM) has just signed a sizeable contract with Med Marine in Turkey to deliver 32 high-performance, future-proof US series thrusters for installation on new Azimuth Stern Drive (ASD) tugboats. KM and Med Marine have an excellent longstanding relationship with many Kongsberg-equipped Med Marine tugs delivering reliable daily service in most of the world’s major ports. The tug market is very important to KM and since last year the market trends have turned positive after the worldwide pause in shipbuilding due to the pandemic. The shipping industry, and the ...

SAFEEN Marine Services, part of AD Ports Group’s Maritime Cluster, announced today it has marked more than 5 million man-hours with Zero Lost Time Injuries (LTI) and zero environmental incidents since its launch in 2012. Operating in nine commercial ports in the UAE and the Middle East, SAFEEN Marine Services extends HSE policy across a comprehensive portfolio of integrated and tailor-made marine services and solutions, which include towage, quayside-support services, emergency response, vessel assistance, inspections, and shipping maintenance. Captain Adil Alhammadi, CEO of SAFEEN Marine Services, AD Ports Group said: ...

The court of Ipojuca has confirmed APM Terminals, a company of A.P. Moller – Maersk, as the official winner of the judicial auction for the acquisition of an Isolated Productive Unit (UPI-B Cais Sul) of Estaleiro Atlantico Sul (EAS), in the Port of Suape, Pernambuco. APM Terminals presented a winning bid on July 26 for the acquisition of the area in the context of its judicial recovery process, to develop and operate a container and general cargo terminal. “Suape has a great growth potential, and our vision is to invest ...

China’s Yangtze River Delta, one of the country’s economic hubs, is accelerating its digital transformation and making new progress based on 5G networks. By the end of June this year, some 430,000 5G base stations had been built in the region, accounting for about a quarter of the country’s total, said Hua Yuan, deputy secretary-general of the Shanghai municipal government and director of the regional cooperation office of the Yangtze River Delta. In addition, the delta region — which falls within the ambit of Jiangsu, Zhejiang and Anhui provinces, and ...

The Port of Aberdeen has today announced that it will collaborate with Stillstrom by Maersk, a newly launched offshore charging venture company, on a pioneering project to significantly reduce emissions from vessels on standby outside the port. Under the memorandum of understanding, Port of Aberdeen and Stillstrom will conduct a joint feasibility study into an innovative offshore renewable charging hub. The ocean cleantech concept provides a platform for vessels to utilise electricity from either offshore wind or grid energy, thereby eliminating the need for vessels to consume fossil fuels while ...

Russia’s seaborne exports of crude and oil products continued to elude the thrust of Western sanctions during the first half of August exceeding 6 million b/d for the first time since hitting a post-pandemic high in April, according to tanker tracking data. Russia’s crude exports rose by 140,000 b/d on the month to average 3.36 million b/d from Aug 1-16 to remain above pre-war levels for the fifth month in a row, preliminary data from vessel analytics provider Kpler shows. Oil product exports from Russia also rose for the third ...

Today, the Board of Directors of The Drilling Company of 1972 A/S (“Maersk Drilling”) has adopted the interim financial report for the first half of 2022 (H1 2022): Performance highlights for Q2 2022 (Q1 2022 in brackets) Revenue of USD 284m (USD 248m) Contracted days were 1,414 (1,158) resulting in a utilisation of 87% (68%) Average day rate of USD 201k (USD 214k) Financial uptime of 98.7% (98.8%) Secured contracts with a total contract value of USD 160m (USD 357m) Revenue backlog of USD 2.0bn at 30 June 2022 (USD ...