Rosatom Inks Deal with Chinese Shipping Company on Arctic Route
Russia's state nuclear agency Rosatom has signed a memorandum of understanding with a Chinese shipping company to establish a year-round container line between the two countries via the Arctic's Northern Sea Route (NSR), it said on Thursday.Russian President Vladimir Putin has talked up prospects for the Arctic corridor as Russia shifts its trade eastwards in response to Western sanctions over the conflict in Ukraine.Rosatom said the agreement with China's Hainan Yangpu NewNew Shipping Co.
Libra Group Exits Container Shipping in $2 Billion Sales Play
Libra Group exited the container shipping market this week after selling close to 100 vessels for more than $2 billion over several years to focus on innovation and sustainability as new drivers of growth, the company's executive chairman said.The container market hit rock bottom nearly a decade ago before rebounding to record highs during the COVID pandemic as demand for consumer goods, which are carried by container ships, surged.George Logothetis, executive chairman of privately owned U.S.-headquartered Libra Group…
Container Shipping Demand Up Significantly, Hapag-Lloyd CEO Says
Hapag-Lloyd Chief Executive Rolf Habben Jansen said on Wednesday that demand for container shipments across the world's oceans has risen significantly in recent weeks but the upswing may be short-lived.The CEO told customers at an online presentation that the increase since the start of May was due to a combination of stocks being replenished in some sectors, unexpectedly high customer demand and shipping company customers bringing forward deliveries to be prepared for the upcoming peak season."People want to be on the safe side…
Red Sea Diversions, Tariff Risks Send Ocean Shipping Soaring
Spiking ocean shipping rates, vessel backups at seaports and empty container shortages - issues that wreaked havoc on global trade during the COVID pandemic supply-chain crisis - are back as the industry enters its busy season."There is a cocktail of uncertainty and disruption across global ocean freight supply chains," said Peter Sand, chief analyst at pricing platform Xeneta."It is the speed and magnitude of this recent (rate) spike that has taken the market by surprise," he said.On Friday…
Maersk's Ammonia-fueled Box Ship Design Earns Approval in Principle
A. P. Møller-Mærsk's newly developed design for an ammonia-fuelled 3,500 TEU container vessel has earned approval in principle (AIP) from classification societies Lloyd’s Register (LR) and the American Bureau of Shipping (ABS).Led by the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, the design project also involved MAN Energy Solutions, Deltamarin, Eltronic FuelTech.“To unlock the potential of sustainable ammonia as an alternative, low-emissions marine fuel, we must…
Greece Finds 109 Kilos of Cocaine in Ship Container with Frozen Squid
Greek authorities confiscated more than 109 kg (240 pounds) of cocaine hidden in a container with frozen squid aboard a vessel inspected at the port of Piraeus, police sources said on Tuesday.The container was shipped from Peru and its destination was Croatia, one of the officials said.South American production of cocaine has surged over the past decade and Balkan traffickers have helped turn Europe into the world’s No. 1 cocaine market.Greece last week said it had dismantled an international criminal group trafficking cocaine in shipping containers from Latin America to Europe…
Seaspan's Ammonia-ready Feeder Ship Design Earns LR Approval
A next generation feeder ship design developed by Technolog for Seaspan Corporation has been awarded approval in principle (AIP) from Lloyd's Register (LR), the classification society announced.The innovative vessel, measuring 198 meters long, is designed to be efficiently converted from liquefied natural gas (LNG) to ammonia fuel during its lifetime, trading efficiently in today’s market and being ready for tomorrow’s. The unique design is therefore prepared for future advancements in feeder vessel technology as power and propulsion systems continue to rapidly evolve.Andy McKeran…
Flawed Propeller Blade Caused Containership to Lose of Propulsion -NTSB
A containership transiting the Pacific Ocean lost hydraulic oil and propulsion after its propeller blade cracked, according to a report from the National Transportation Safety Board (NTSB). A blade on the vessel’s controllable pitch propeller system did not meet manufacturer design specifications, the investigation found.The Matson containership Maunalei was travelling to Portland, Ore., from Anchorage, Alaska on August 11, 2022, for drydock repairs when the crew intentionally shut down the main engine due to problems in the controllable pitch propeller system…
Containership That Took Down Baltimore Bridge Refloated & Towed from Channel
Recovery teams refloated a large containership impeding shipping in the Port of Baltimore early on Monday and began pulling it free of the main channel, two months after the vessel crashed into the Francis Scott Key bridge and caused the span to collapse.Tugboats were leading the Dali to a local marine terminal after a successful effort to make the container ship buoyant at about 6:40 a.m. EDT (1040 GMT), the U.S. Army Corps of Engineers said on social media platform X.The removal…
CMA CGM Sees Overcapacity Looming
Shipping group CMA CGM benefited in the first quarter from a rebound in demand for consumer goods and higher freight rates linked to Red Sea disruption, but expects an influx of new ships to weigh on the market later in the year, it said on Friday.France-based CMA CGM, the world's third-largest container line, reported first-quarter net profit of $785 million, recovering from a $90 million loss in the final quarter of 2023.That was down from a net profit of $2.01 billion in the first quarter of 2023…
Hapag-Lloyd Raises Lower End of Outlook but Profit Falls
German container firm Hapag-Lloyd on Wednesday raised the lower end of its 2024 outlook amid rising demand and freight rates, but posted an 84% drop in first-quarter net profit.Commercial shipping has faced global disruptions, including in the Red Sea region, where operators are avoiding the Suez Canal because of attacks on vessels by Yemen-based Houthi militants.The crisis has raised freight rates because alternative trips around Africa's southern tip are longer and expensive."Global container volumes were up quite significantly especially in January and February…
Containership Lost Power Several Times Before Striking Bridge in Baltimore
The cargo ship Dali lost electrical power several times before it crashed into the Francis Scott Key Bridge in March, killing six people and paralyzing a major transportation artery for the U.S, Northeast, federal investigators said on Tuesday.The National Transportation Safety Board (NTSB) said in a preliminary report that about 10 hours before leaving Baltimore the Dali experienced a blackout during in-port maintenance and shortly before the crash.The board said the cargo ship…
Salvors Set to Blast Collapsed Baltimore to Pieces
U.S. crews in Baltimore plan to set off controlled explosions on Monday to allow them to remove a portion of the collapsed Francis Scott Key Bridge from the bow of the massive container ship that toppled the span in March.The detonations will break the bridge's truss into small sections, enabling salvage crews to use cranes and barges to haul away the twisted metal wreckage, the U.S. Army Corps of Engineers said. The work had been planned for Sunday but it was delayed because of weather conditions.Afterwards…
Body Camera Video Captures First Reactions to Baltimore Bridge Collapse
Body camera video captured the shocked reactions of first responders in the aftermath of the collapse of a Baltimore bridge in March in which six men were killed.The recordings, obtained by local media on Friday, offer a snapshot of the incredulity of officers from the Maryland Natural Resources Police as they approached the site where the Francis Scott Key Bridge in Baltimore collapsed."Dude, this is fucking bad, like there is no bridge," one person can be heard in the video…
US House Panel to Hold Hearing on Baltimore Bridge Collapse
The U.S. House Transportation and Infrastructure Committee will hold a May 15 hearing on the federal government's response to the collapse of a Baltimore bridge.The Dali containership crashed into the Francis Scott Key Bridge on March 26, killing six people.The hearing will include Federal Highway Administrator Shailen Bhatt, National Transportation Safety Board Chair Jennifer Homendy and senior officials with the U.S. Coast Guard and Army Corps of Engineers. The NTSB is expected to announce preliminary findings from the investigation next week.Last month…
Red Sea Disruption Could Cut Asia-Europe Capacity, Maersk Says
Disruption to Red Sea container shipping is rising, Maersk said on Monday, forecasting this will cut the industry's capacity between Asia and Europe by up to 20% in the second quarter.Maersk and other shipping companies have diverted vessels around Africa's Cape of Good Hope since December to avoid attacks by Iran-aligned Houthi militants in the Red Sea, with the longer voyage times pushing freight rates higher."The risk zone has expanded, and attacks are reaching further offshore…
Maryland Estimates Bridge Replacement Cost at Up to $1.9 Billion
Maryland said on Thursday it estimates it will cost $1.7 billion to $1.9 billion to rebuild a collapsed Baltimore bridge and anticipates it will be completed by fall 2028.The Maryland Department of Transportation said the state's "planning level cost estimate is between $1.7 billion and $1.9 billion" which "is in line with similar projects of this scale and complexity."The Dali cargo ship crashed into the Francis Scott Key Bridge on March 26, killing six people. Lawmakers in Congress…
Maersk Raises Profit Guidance on Strong Demand and Red Sea Disruption
Shipping group Maersk raised its full-year profit guidance after reporting first-quarter earnings on Thursday, citing strong demand and higher freight rates as ships sail for longer to avoid conflict in the Red Sea.The company, viewed as a barometer of world trade, said that shipping disruptions caused by Houthi militants' attacks on vessels in the Red Sea were expected to last at least until the end of the year, adding that growth in demand for container shipping had been stronger than forecast."The container volumes we see today are quite high compared to GDP growth in the world economy…
Houthis Attack Four Ships in Indian Ocean, Red Sea
Yemen's Houthis said on Tuesday they targeted the MSC Orion container ship in a drone attack in the Indian Ocean as part of their ongoing campaign against international shipping in solidarity with Palestinians against Israel's military actions in Gaza.MSC Orion was sailing between the ports in Sines, Portugal and Salalah, Oman, according to LSEG data.Reuters found conflicting information about the registered owner of the MSC Orion. According to LSEG and other data providers, the ship is owned by Zodiac Maritime…
Kongsberg to Supply Hybrid Electrical Systems for Matson's New Box Ships
Matson Navigation Company’s new liquefied natural gas (LNG)-powered containerships will feature a comprehensive range of integrated technologies from Kongsberg Maritime to optimize energy use and reduce emissions.The Norwegian company announced Tuesday that it will supply hybrid electrical systems, controlled and operated by its Energy Management System, for a series of three 3,600 TEU vessels that are being built by Philly Shipyard for the U.S.-based shipowner. The Kongsberg Maritime scope of supply includes a Shaft Generator System…
Hapag Lloyd CEO Expects Red Sea Crisis to End This Year
The CEO of German container shipper Hapag-Lloyd said on Monday he expects that the Red Sea crisis can be overcome before the end of the year.Ship operators face prolonged disruption as Yemen-based Houthi militants attack vessels travelling on one of the world's busiest routes, causing costly redirections around Africa."It is my personal expectation that the Red Sea crisis will come to an end before the end of 2024," Chief Executive Rolf Habben Jansen said in an online discussion panel organised by the company.He said he was slightly more optimistic about the duration of the crisis than the ave
Imoto Lines and Marindows to Build Next-Gen Zero-Emission Containership
Imoto Lines and Marindows have outlined plans to build the next generation zero-emission domestic container ship capable of hybrid operation using Japan's first exchangeable container batteries, alongside onboard batteries and generators.The joint project between the companies aims to address three major challenges of the maritime industry - decarbonization, crew shortage, and safe navigation.The three-year project is supported by the Ministry of the Environment, Government of…
Hapag-Lloyd and Seaspan to Retrofit Five Vessels to Methanol Propulsion
Hapag-Lloyd and Seaspan Corporation announced plans to retrofit and convert five 10,100 TEU containerships powered by conventional MAN S90 engines to dual-fuel engines capable of operating on methanol. Following the engine retrofit, the vessels will continue to be on long-term charter from Seaspan to Hapag-Lloyd.The vessels scheduled for retrofits are the Seaspan Amazon, Seaspan Ganges, Seaspan Thames, Seaspan Yangtze and Seaspan Zambezi. The retrofit is expected to take approximately 80-90 days per vessel starting in the first quarter of 2026.
