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International Shipping News

Svitzer Publishes Prospectus Related To Listing On Nasdaq Copenhagen

Yesterday, Svitzer A/S (Svitzer) has published a prospectus forming the basis for admission to trading and official listing of the shares of Svitzer Group A/S (Svitzer Group) on Nasdaq Copenhagen, following the expected demerger of A.P. Møller – Mærsk A/S’ (APMM) towage and marine services activities. The demerger is subject to approval at APMM’s extraordinary general meeting convened to be held on 26 April 2024. The following information is available on www.svitzer.com/investor: The prospectus published by Svitzer A/S on 22 March 2024 An information brochure in Danish, which contains an ...

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Maersk will avoid Red Sea despite EU security operation

Shipping company Maersk said on Friday it was too early to resume sailings through the Red Sea due to a continued elevated risk level, despite an initiative by the European Union to increase safety in the region. Maersk, one of the world’s biggest container shipping companies, suspended Red Sea traffic on Jan. 5 and has since redirected ships via the Cape of Good Hope. TheEU’s naval mission in the southern Red Sea was launched in February to help protect the key maritime trade route from drone and missile attacks by ...

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ENGINE: Americas Fuel Availability Outlook

North America Houston has experienced a significant surge in bunker fuel demand this week, leading to tight availability across all fuel grades for prompt supply. Most suppliers are fully booked until the first week of April, with only one supplier able to offer VLSFO stems in smaller quantities with an eight-day lead time. An increased shipping traffic or more vessels calling at the port could be the reason behind the spike in bunker fuel demand, a source says. Demand has been good in Port Bolivar, where prompt HSFO, VLSFO, and ...

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TORM plc capital increase in connection with delivery of one 2011-built LR2 vessel

With reference to Company Announcement no. 22 dated 09 November 2023 where TORM plc (“TORM”) announced the acquisition of eight LR2 product tanker vessels, TORM plc has increased its share capital by 570,006 shares (corresponding to USD 5,700.06) as a result of the delivery of the seventh of the eight LR2 vessels. The new shares relate to the settlement of a USD 20.6m allocated loan note issued in connection with the vessel delivery and correspond to USD 36.14 per A-share with a nominal value of USD 0.01 each. The capital ...

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CMA CGM announces upgrade to service between Jeddah and North Red Sea in partnership with Folk Maritime

Effective from April 2024, CMA CGM will operate NRX (North Red Sea Express), a joint upgraded service connecting Saudi Arabia Jeddah Islamic Port to NEOM, North Red Sea ports of Sokhna in Egypt, Aqaba in Jordan and Yanbu in Saudi Arabia, expanding logistic capabilities in the North Red Sea and reinforcing Saudi Arabia’s growing strategic position as a global logistics hub. This service will be operated in partnership with Folk Maritime, Saudi Arabia’s pioneering independent feeder and short-sea shipping operator. The weekly service will provide two vessels catering to cargo ...

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U-Ming Singapore and ITOCHU sign milestone MoU for the joint development of Ammonia Dual-Fuel and De-Carbonised vessels

U-Ming Marine Transport (S) Pte Ltd (U-Ming), a subsidiary of Taiwanese-listed U-Ming Marine Transport Corporation (2606.TW; headquartered in Taipei, Taiwan; President & Director, Mr CK Ong), announced today that it has signed a Memorandum of Understanding (MoU) with ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President and COO) to explore discussions on jointly owning and operating ammonia dual-fuel bulk carriers. Leveraging U-Ming’s experience and expertise, the collaborative efforts with ITOCHU are expected to play a leading role in driving decarbonisation in international shipping. U-Ming’s understanding, implementation, and commercialisation of ...

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IMTRA Recognized As Employee-Owned Company Of The Year

IMTRA, the leading manufacturer and importer of quality solutions and products for the marine, energy and transportation markets, announced today their receipt of the 2024 award for Employee-Owned Company of the Year. Presented by the New England Chapter of the ESOP Association, the award honors a company that shows a strong commitment to employee ownership. This is demonstrated through the company’s involvement with the association and its programs, in addition to providing clear communication with employees and demonstrating a commitment to the Association’s vision of endorsing employee participation, wealth creation, ...

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Asia Pacific Maritime 2024 Sets New Record With Highest Attendance To Date

The 18th Asia Pacific Maritime (APM), held from 13-15 March 2024, welcomed an unprecedented number of 15,717 attendees in Singapore. This figure surpassed attendance records of previous editions, signifying a positive revitalisation of Asia Pacific’s maritime sector and solidifying Singapore’s position as a leading maritime hub. Held at the Marina Bay Sands, the event showcased an extensive range of 710 exhibitors and featured 150 industry speakers worldwide. This year’s theme, ‘Future of Vessels, Solutions for Tomorrow’, was a timely response to the industry’s pressing need for sustainable and innovative solutions. ...

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Argeo signs “Certificate of Delivery and Acceptance” with CSI for second Kongsberg Discovery HUGIN Superior AUV

Ocean surveying and inspection specialist Argeo Subsea, CSI Nordics and Kongsberg Discovery have signed a three-party Certificate of Delivery and Acceptance for a new HUGIN Superior AUV. The agreement, confirmed at Oceanology International in London, supports Argeo’s ambitious fleet expansion plans, as the firm looks to build the world’s most advanced AUV fleet, with seven high specification units. Argeo already has one HUGIN Superior in service. CSI Nordics, a subsidiary of CSI Leasing, one of the largest independent equipment leasing companies in the world, will purchase the unit from Kongsberg ...

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India stops taking Russian oil delivered on Sovcomflot tankers, Bloomberg News reports

All of India’s refiners are now refusing to take Russian crude carried on PJSC Sovcomflot tankers due to U.S. sanctions, Bloomberg News reported on Friday. Reuters reported earlier this week that India’s Reliance Industries RELI.NS, operator of the world’s biggest refining complex, would not buy Russian oil loaded on tankers operated by shipper Sovcomflot (SCF) after recent U.S. sanctions, according to two sources familiar with the matter. Source: Reuters (Reporting by Harshita Meenaktshi in Bengaluru, Editing by Mark Potter)

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MOL and MOL Sunflower Receive 17th MLIT Minister’s Award for Promotion of Barrier-Free Environments

Mitsui O.S.K. Lines, Ltd. and its group company MOL Sunflower Ltd. announced that the Sunflower Kurenai and Sunflower Murasaki (Note 1), Japan’s first LNG-fueled ferries, received the 17th “Minister’s Award for the Promotion of Barrier-Free Environments” from the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) in recognition of their barrier-free improvements and the universal design efforts of the newly built Sunflower Terminal (Beppu), which was constructed to coincide with the launch of both ferries, which entered service last year. The MLIT Minister’s Award for the Promotion of Barrier-Free Environments ...

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EU naval mission in Red Sea destroys missiles, Houthi seaborne drone

The EU’s naval mission in the southern Red Sea said on Thursday it had destroyed three ballistic missiles and a Houthi seaborne drone to protect merchant ships. The EU’s mission, known as Aspides, said on social media platform X that a French worship had destroyed the ballistic missiles and a German destroyed the drone, operated by the Iran-aligned Houthis and spotted near commercial vessels. Aspides was launched in February to help protect the key maritime trade route from drone and missile attacks by Yemen’s Houthi militia, who say they are ...

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JX, NYK, and KNCC Jointly Study Optimization of CO2 Liquefaction and Storage Process

JX Nippon Oil & Gas Exploration Corporation (JX), Nippon Yusen Kabushiki Kaisha (NYK) and its affiliate Knutsen NYK Carbon Carriers AS (KNCC) signed a memorandum of understanding (MoU) on March 15 to jointly study the optimization of carbon dioxide (CO2) liquefaction and storage processes using KNCC’s proprietary technology Cargo Tank Cylinders (CTC). This study aims to optimize the CO2 transportation system using CTC by utilizing the characteristics of the EP (elevated pressure) method, which stores and transports liquefied CO₂ at higher temperatures and pressures than the LP (low pressure) and ...

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Infinium’s Project Pathfinder is World’s First Fully Operational eFuelsFacility

Electrofuels leader Infinium is now successfully operating the world’s first commercial scale facility making drop-in ready electrofuels (eFuels) in Corpus Christi, Texas. The project, known as Project Pathfinder, is a continuously operating plant producing synthetic, ultra-low carbon eFuels that can be used in today’s heavy transportation applications and chemical processes. “Project Pathfinder would not have achieved this milestone without the incredibly talented team we brought together to pioneer commercial eFuels production, logistics and product delivery programs, none of which have existed before,” said Robert Schuetzle, CEO at Infinium. “As both ...

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Samskip Continues Aggressive Network Expansion with new Spain-United Kingdom-Rotterdam Service launch

Samskip launches shortsea container service connecting Santander, Tilbury and Rotterdam, delivering the service reliability, security and sustainability advantages of intermodal transport to customers throughout Spain, supported by dedicated local customer support. The new service launches from Rotterdam on Tuesday April 2nd, offering customers a weekly Spain-Tilbury-Rotterdam shortsea option that remains highly cost competitive against road-ferry alternatives while providing greater reliability and substantially lower CO2 emissions per tonne mile. As experts in Multimodal and Intermodal planning logistics, Samskip has a strong local presence in Rotterdam and the UK, and with the ...

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