Port of Tanjung Pelepas (PTP), a joint venture between Malaysian based MMC Group and Netherlands based APM Terminals hits historic milestone by becoming the first container terminal in Malaysia to surpass 1 million TEUs in a month. The milestone was recorded on 31st July 2022 at approximately 11.45 pm during the loading process at MTT CEBU vessel, with final monthly throughput volume registered at 1,001,819 million TEUs. Commenting on this achievement, Transport Minister, YB Datuk Seri Ir Dr Wee Ka Siong lauded PTP for its sterling performance in achieving the ...

DP World, the leading global logistics company and provider of smart supply chain solutions, today announced a partnership between CARGOES Finance By DP World and TuningBill, the business-to-business neobank. CARGOES Finance By DP World is a fintech platform that brings together global importers, exporters and logistics companies in need of financing from around the world with financial institutions. CARGOES Finance provides lenders with access to data on cargo movements, enabling them to lend with confidence. DP World customers will gain access to TuningBill services through the CARGOES Finance platform. These ...

International Container Terminal Services, Inc. (ICTSI) is empowering port users to make better, more timely business decisions with the launch of the ICTSI App, a tool that gives port users access to the Company’s newest digital services. ICTSI’s latest innovation grants port users real-time access to critical logistics data across ICTSI’s global operations. Using the app, port stakeholders can monitor trucks, containers and vessels, as well as view payment estimates from corresponding ICTSI terminals in advance. These services enable port users to optimize their cargo through ICTSI and reduce costs. ...

Today, Wednesday, August 10 2022, the Baltic Dry Index climbed by 28 points, reaching 1592 points.

MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO in the main world hubs) still did not have a firm trend and changed irregular on Aug. 09: 380 HSFO – USD/MT – 598.50 (+6.59) VLSFO – USD/MT – 831.15 (-4.53) MGO – USD/MT – 1 116.04 (-6.07) As of August 09, the MABUX MBP/DBP Index (MDI) (comparison of market bunker prices and the MABUX digital bunker price benchmark) did not have a firm trend: fuel underpricing was growing in the HSFO segment, overpricing ...

Technology company ZeroNorth has signed a new deal with global common carrier X-Press Feeders to deploy the ZeroNorth platform across the carrier’s entire fleet of feeder vessels, the companies have announced today. The terms of the deal will see the platform and its suite of vessel, voyage and CII optimisation services used across X-Press Feeders’ more than 100 vessels to improve earnings, bolster decision-making and significantly contribute to the company’s decarbonisation strategy. Partnering with ZeroNorth will enable X-Press Feeders to benefit from increased transparency and reduced workload across its sea ...

NYK has concluded a contract with Keihin Dock Co., Ltd., an NYK Group company, to modify a tugboat to ammonia-fuel specifications. Sakigake, a tugboat currently fueled by liquefied natural gas (LNG) and operated in Tokyo Bay by NYK Group company Shin-Nippon Kaiyosha Corporation will be converted to operate on ammonia fuel by a target completion year of 2024. This initiative is part of the development of vessels equipped with a domestically produced ammonia-fueled engine, which was initiated in October 2021 by NYK and IHI Power Systems Co., Ltd. (IPS) as ...

Bahri, a global leader in logistics and transportation, has signed a strategic partnership with Aventra Group, a digital transformation company specializing in business and technical consulting, to assist its digital transformation journey by further utilizing data to improve its decision-making capabilities. This partnership includes building a maritime-based data orchestration platform solution that will securely store, sort, and combine data across Bahri’s business units, allowing the company to streamline and automate data-driven decision-making. Waleed Alsobayel, Acting Chief Technology Officer, commented: “Our partnership with Aventra Group is a great step towards implementing ...

The San Pedro Bay Ports of Los Angeles and Long Beach announced that they continued their record high volume streak of cargo moved in July 2022y. Despite inflation and higher-than-usual inventory, the ports expect cargo volume to remain high through the second half of the year. But, high volumes of ocean cargo shipping equate to high emissions from dirty fossil fuels that pollute the air we breathe and the water we drink. If ocean shipping were a country, it would be the sixth largest producer of greenhouse gas emissions, contributing ...

The Georgia Ports Authority kicked off its new fiscal year with the fastest start ever, handling 530,800 twenty-foot equivalent container units in July, an increase of 18 percent. Since January, GPA has moved 3.4 million TEUs, up 231,400 or 7 percent over its performance during the same period in 2021 – a record year in which GPA handled 5.6 million TEUs. Annualized, the July volumes have the Port of Savannah moving containers at a rate of more than 6 million TEUs per year. “The Port of Savannah has clearly become ...

The creation of China’s new state-owned iron ore giant — built to consolidate the nation’s mining investments and coordinate purchases of the key steelmaking input — is being felt everywhere from Simandou to Sydney. The idea is that China Mineral Resources Group, founded on July 19 with registered capital of 20 billion yuan ($3 billion), will centralize purchasing for state-owned steel-makers and traders to create a unified front in negotiations with foreign suppliers. It will also house overseas mining assets. The move is underpinned by China’s Iron Ore “Foundation Plan,” ...

Germany’s hard coal importers expect more shipments from next month when generators will seek to switch to more coal burning and away from Russian gas, but fear logistics problems could hamper deliveries. “Verein der Kohlenimporteure (VDKi) expects significant volumes increases in the monthly import figures from September onwards,” Alexander Bethe, the chairman of the German coal importers’ group, said in reply to an enquiry by Reuters. September could bring a 50% rise over May, Bethe said, when imports had been 2.35 million tonnes. Monthly coal receipts recorded last winter by ...

TEN Ltd., a leading diversified crude, product and LNG tanker operator, today announced that its Board of Directors declared the regular quarterly cash dividend of $0.546875 per share for its Series D Cumulative Perpetual Preferred Shares (the “Series D Preferred Shares”; NYSE; TNPPRD) and the regular quarterly cash dividend of $0.578125 per share for its Series E Cumulative Perpetual Preferred Shares (the “Series E Preferred Shares”; NYSE; TNPPRE). The dividend on the Series D and Series E is for the period from the most recent dividend payment date of May ...

The Baltic Exchange’s main sea freight index was little changed on Tuesday as declines to multi-week lows in the panamax and supramax segments countered gains in capesize rates. The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, edged down two points to 1,564 points. The capesize index was up for the second session, gaining 45 points, or 3.1%, at 1,510 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $369 to $12,521. “The Pacific market ...

Helm Operations’ annual user conference returns this September, offering customers the opportunity to meet with industry experts and discover the full potential of Helm’s innovative fleet management software solutions. From September 22-23, Helm CONNECT users from all over the world will gather in Victoria, BC, Canada for Helm Conference 2022. For two full days, Helm Operations will celebrate the success of its customer community together with thought leaders, industry pioneers, peers, and technology experts at a high-energy event that will focus on training, information exchange and networking. Taking place at ...