With TotalEnergies

CMA CGM agrees to cut prices to help French consumers

French oil major TotalEnergies and shipping giant CMA CGM announced further measures to cut prices on Friday, following government pressure for companies to do more to help consumers cope with soaring inflation

war

U.N.'s FAO receives $17 mln for Ukraine grain storage

The funds would help Ukraine, the world's fourth largest grains exporter, store produce from the current July-August harvest in plastic sleeves and modular storage containers, the U.N. Food and Agriculture Organisation (FAO) said

war

Russian separatists seize two foreign ships in Mariupol

Liberia registered Smarta Shipping, the owner of the Liberia-flagged Smarta bulk vessel, one of the two vessels taken, said it was informed of the seizure by email on June 30, calling it unlawful and "against all norms of international law"

CRUISES

Costa Firenze and Costa Venezia will join the Carnival fleet

“We are excited to see these iconic Costa ships make their debut in the US under the leadership and operation of our sister brand. Costa providing its beautiful ships with their Italian design and Carnival delivering FUN, Italian Style!” Mario Zanetti, President Costa Cruises said

In bid to reduce export backlogs

Biden signs ocean shipping bill

President Joe Biden on Thursday signed legislation to improve oversight of ocean shipping, which lawmakers say will help curb inflation and ease export backlogs. The bipartisan bill passed the U.S. House of Representatives on a 369-42 vote earlier this week

politics

Greece wants to keep open channel to Turkey

Erdogan has halted bilateral talks in a dispute over airspace violations and a perceived slight from Mitsotakis, whom he has accused of trying to block sales of F-16 fighter jets to Turkey when the Greek Prime Minister visited Washington in May

The agreement

IMO breaks deadlock on carbon pricing for shipping

Londra - The push to decarbonize the commercial shipping industry has achieved a major breakthrough after countries reached a consensus on carbon pricing of shipping emissions, a development that comes after more than 10 years of stalemate

War effects

Owners urged to fast-track job offers as wages rise

Crew shortages are driving up seafarer wages, according to Danica Crewing Specialist’s CEO Henrik Jensen who urges ship operators to be quick to offer jobs to seafarers who apply with them or risk losing out to a higher bidder

Starting from april

Timothy Cosulich: the new IBIA’ Chairman

The results of the 21st February 2022 Board of Directors election of the International Bunker Industry Association were announced. F.lli Cosulich CEO Timothy Cosulich has been elected as IBIA Chairman

Analysis

Containership markets set records for secondhand sales and orders

London - With capacity remaining constrained and demand still at peak levels, the containership market continues to set new records. Both construction orders and sales of existing ships set new records in 2021 fueled by extraordinary profits for the major carriers

Green transition

d’Amico-led biofuel trial confirms positive reduction in CO2 emissions

Rome - The joint industry project launched in June 2021 to test biofuel blend (B30) derived from renewable feedstock to power a d’Amico Group LR1 product tanker, showed positive findings in terms of the reduction of CO2 emissions, reduced carbon intensity, and stable NOx emissions

Analysis

Dry bulk market looking for a clear direction

Athens - The dry bulk market is looking for a steady course of late, as volatility seems to have established itself as the main trend. In its latest weekly report, shipbroker Allied Shipbroking said that “it is rather difficult to describe the current situation in the dry bulk sector, given the disarray that has been noted in the freight market during the past few weeks or so

ships visited for you

Viking Venus, technical data and performances

The Viking units are all built according to the latest navigation regulations and equipped with the most modern safety systems, including the “safe return to port”

New headquarter in Casablanca

Hapag-Lloyd brings competition to bustling Moroccan port

Tanger - The German Shipping line Hapag-Lloyd has announced it will set up a permanent base of operation in Morocco in a move to expand its global network. With additional personnel and new offices in the country, the company hopes to realize its growth ambitions

coronavirus

The invisible seafarers of Covid for revival of the economy

The current risk is that the situation could deteriorate again, with the increasing spread of the variants of Covid-19. The seafarers are raising the white flag, they are legitimately exhausted, in these conditions many refuse to board and many are seeking alternative employment

shipowners

Ever Given container ship leaves Egyptian waters

The ship was released on July 7 after protracted negotiations and an undisclosed settlement was reached between the Suez Canal Authority (SCA) and the Ever Given's owners and insurers.

Says Stann Marine

Agreement in principle reached over Suez Canal ship

Ismaila - A representative for the owners and insurers of a giant cargo ship that blocked the Suez Canal in March on Wednesday said that an agreement in principle had been reached in a compensation dispute with the canal authority. Work was under way to finalise a signed settlement agreement as soon as possible and arrangements for the release of the "Ever Given" vessel would be made after formalities had been dealt with

"Marco Polo"

CMA CGM vessel will set seven records on Atlantic seaboard

Marseille - For the second time in less than a year, a containership operated by CMA CGM will set size records as the largest boxship to call at ports along the Atlantic Seaboard. The 16,022 TEU CMA CGM "Marco Polo" will set a total of seven North American big ship records in 11 days. The 1,300-foot long boxship is currently crossing the Atlantic due to make its first North American call in Halifax on May 17

No forecast for 2021

ONE profits soar to US$3.5b from $105m in 2019

Tokyo - Japanese container line headquartered in Singapore ONE has reported a US$3.5 billion profit for 2020 - an astonishing leap from the $105 million profit declared for 2019. The earnings surge came on the back of a 21 per cent increase in annual revenue

After Q1 results

Maersk expects tailwind to last amid high demand for containers

Copenhagen - Denmark's Maersk said on Wednesday it expected its "exceptionally strong" performance in the first quarter to continue for the rest of the year, driven by high demand for shipping containers from China to the United States. Maersk, which handles about one in five containers shipped worldwide, said there were not enough ships available in the world to meet a surge in consumer demand

The Japanese company

”K” Line enters offshore wind market

Tokyo - Japanese shipping company Kawasaki Kisen Kaisha ("K" Line), and its domestic subsidiary Kawasaki Kinkai Kisen Kaisha have agreed to establish a joint venture company to provide services within the offshore wind industry. The new joint venture company, “K” Line Wind Service, will provide offshore support vessels and marine-related services to the industry

As COVID crisis dampens demand

LNG cargoes diverted from India

Singpore - Liquefied natural gas (LNG) cargoes are being diverted away from ports in India as surging coronavirus cases there hamper domestic gas demand, trade and shipping sources said on Monday. Six LNG tankers diverted away from India since April 20

markets

Iron ore and China steel output aren’t sticking to the script

The high price of iron ore, as well as strength in China’s domestic steel prices and profit margins for mills, has prompted some official concern. Beijing’s industry ministry went so far as to say on April 20 that it would take steps to stabilize raw material prices.

Egypt

Suez Canal may expand southern channel, chairman says

The 400-metre-long (1,310 ft) Ever Given became grounded diagonally across the southern section of the canal during high winds on March 23. It remained stuck for six days, preventing hundreds of ships from passing and significantly impacting global trade flows.

Markets

Suez Canal steps up efforts to remove blockage, shipping rates surge

The Dutch rescue team had confirmed that two additional tugs would arrive on March 28 to help dislodge the ship after an attempt to re-float it on Friday failed, BSM said. "There have been no reports of pollution or cargo damage and initial investigations rule out any mechanical or engine failure as a cause of the grounding,“ a BSM statement said.

Egypt

Container ship runs aground in Suez Canal, blocks traffic

Any delays can have a knock-on effect for both LNG and European gas prices. There were also more than 13 container ships anchored around Suez with at least two others waiting in the Mediterranean, Refinitiv ship tracking data showed.

Markets

Crude exports rise again as Saudi Arabia draws on inventories

The kingdom exported 6.582 million b/d in January, according to JODI data released March 18, an increase of 87,000 b/d from December. It was the seventh straight month that shipments have risen since a historic low of 4.98 million b/d in June when stringent OPEC+ production cuts were in effect.

markets

ClassNK releases Guidelines for ROV/AUV

Although the utilization of ROVs and AUVs is increasing worldwide, no international standardization of such technologies has yet been implemented, and the utilization of ROVs and AUVs has, for the most part, been limited to certain fields.

Markets

Libyan freight premiums subside amid consistent output

Tanker owners in the Mediterranean basin welcomed the comeback of exports from Libya after the eight-month blockade. “The comeback of Libya was a relief for the oil tanker market amid production cuts and low demand from end users,” a broker said

poll

Oil set for steady gains as economies shake off pandemic blues

Of the 41 respondents who participated in both the February and January polls, 32 raised their forecasts. Most analysts said the Organization of Petroleum Exporting Countries and allies (OPEC+) may ease current output curbs when they meet on March 4, but would still agree to maintain supply discipline.

Trade and shipping

After Brexit, Ireland and France cut out the middleman

Stena Line, the largest Irish Sea operator, has doubled its services on the booming Rosslare-Cherbourg route, temporarily cancelling some sailings to Britain after freight volumes fell 60% in the first half of January.

Security

Why are pirates attacking ships in the Gulf of Guinea?

The pirates come from Nigeria's turbulent Niger Delta, experts say. The region produces the bulk of the nation's petroleum, but is woefully underdeveloped, scarred by pollution and has some of the highest unemployment in the country.

International

Indonesia's coast guard seizes Iranian and Panamanian tankers

"The tankers, first detected at 5:30 a.m. local time (2130 GMT on Jan. 23) concealed their identity by not showing their national flags, turning of automatic identification systems and did not respond to a radio call," the statement said.