Rising costs - News

Mitsubishi Shipbuilding Co., Ltd., a Mitsubishi Heavy Industries (MHI) Group company based in Yokohama, held a keel laying ceremony marking the start of construction for a demonstration test ship for transport of liquefied carbon dioxide (LCO2), to be utilised in conjunction with initiatives by the New Energy and Industrial Technology Development Organisation (NEDO) for its demonstration projects (CCUS R&D and Demonstration Related Project / Large-scale CCUS Demonstration in Tomakomai / Demo...

Propspeed, the globally renowned innovator of underwater foul-release coatings, has announced that Propspeed has been proven to make vessels more fuel efficient, improve performance and offset fuel costs. Several Propspeed customers have monitored their performance data, before applying Propspeed and after, and have shared that information back to the company. Demand for fuel-efficient vessels “Seeing how shockingly high fuel costs these days are, boaters are looking for any way to make...

The Secretary-General of the International Maritime Organization (IMO) has signed a partnership agreement with the Commonwealth Secretariat, under which both organisations commit to strengthening the maritime and port sectors in selected developing countries, through activities which will promote and facilitate the adoption of sustainable maritime transport systems and practices. A Memorandum of Understanding (MoU) was signed on Thursday (29 September, 2022) by IMO Secretary-General, Kitack Lim...

Peder Winther joined Wrist Group on October 1st as CEO for the Ship Supply business and will become part of the Global Management Team and the Executive Management together with Group CEO, Jens Holger Nielsen and Group CFO, Anders Skipper. Peder Winther will take daily responsibility for the Ship Supply regions, Global Sales and Marketing, Global Procurement, and Process Excellence. The strengthening of the ship supply business is part of Wrist’s strategic initiatives for future grow...

Valenciaport has positioned itself as a benchmark in the relationship between the port and the city, favouring the harmonisation of the port environment to make it closer to the city with milestones, such as the transfer to the city of the Balcón al Mar in 2013 or more recently the Special Plan of the South Zone 1 for the Nazaret area. The Port Authority of Valencia (PAV) has been invited by the World Bank to present its good practices in the port-city relationship, digitalisation and de...

Top decision-makers, thought pioneers, and experts from across the maritime spectrum came together to make sense of the rapidly changing world and to identify ways in which they can take action to create a sustainable future. Need for collaboration Jan Dieleman, Chair, of Global Maritime Forum and President, of Cargill Ocean Transportation stressed the need for collaboration to tackle increasingly complex and interdependent issues. “The challenges facing the industry in the years t...

MAN Energy Solutions has published its Corporate Responsibility (CR) Report 2021 that provides information on its decarbonisation targets. Among these, the company aims to reduce emissions from its own production facilities by 50% by 2030, and specifies its commitment to a consistent focus on sustainable solutions. CR activities will concentrate on four focus areas, namely Decarbonisation, Circular Economy, Responsibility in the Supply Chain, and Employee Empowerment. Sustainable corporate act...

Hundreds of people will have the unique opportunity to go behind the scenes on Scillonian III next month to mark Maritime UK Week. Local school children, Sea Cadets, and fans of the Isles of Scilly Steamship Group’s faithful passenger ship have been invited on board for the special, one-off event. It will give them a rare chance to go onboard Scillonian III while the vessel is in the dock in Penzance on a non-sailing day. Visitors will be able to meet the captain and crew, tour the ship&r...

30 shipping banks and 17 marine insurance providers and brokers announce that the Poseidon Principles will add additional trajectories to report climate alignment with a 1.5C future. This new commitment will align the Poseidon Principles with the ambition of the UN and the latest available climate science. Emissions reduction trajectory The Poseidon Principles have committed to adopting an emissions reduction trajectory in line with net-zero commitments, as soon as such a trajectory or trajec...

During a trip to Martinique and Guadeloupe, Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, a pioneer in shipping, land, air, and logistics solutions announced the rollout of seven new container ships powered by biogas to enhance and modernise services to the French West Indies.  Seven container ships to enhance services Delivered gradually as of 2024, the seven new container ships; four 7,300 TEU vessels and three 7,900 TEU vessels, each with 1,385 Reefer...

Iridium Communications Inc. announced Operation Pacific Waves (OPW), a series of partnership-driven field exercises involving more than 20 organisations. Focused on the Indo-Pacific region, OPW will deploy Iridium® and Iridium Connected® equipment in live scenarios highlighting the Iridium network's resilient, real-time, and truly global capabilities. SATCOM field demonstrations A variety of Iridium SATCOM field demonstrations will take place in coordination with an international co...

The traffic indicators recorded during the month of August at the Port of Valencia have once again acted as a precise thermometer of the state of international trade, of the turmoil in the fuel, solid bulk (cereals), and liquid bulk (Liquefied Natural Gas and oil) markets, as well as the world of containers (import/export of manufactured goods) and tourism. In August, Valenciaport’s terminals recorded new drops in transhipment traffic, but registered historic records in import containers,...

On September 16, 2022, in Moscow, Russia, the Chairman of the Board of Directors of FESCO Transportation Group - Andrey Severilov held a meeting with Ambassador Extraordinary and Plenipotentiary of the Argentine Republic - Eduardo Antonio Zuain. The event was also attended by the Head of the Trade and Economic Section of the Argentine Embassy, Franco Ruggiero. Intermodal cargo transportation At the meeting, the parties discussed practical steps to develop cooperation in the field of...

Grand Départ Copenhagen Denmark (GDCD), a company set up in Denmark to handle and plan the Danish Tour start, chose Blue Water to plan all air transport out of Denmark. In the autumn of 2021, Blue Water began planning the transports. Right from the beginning, GDCD emphasised the importance for this event taking place in Denmark and the ability of the airlines to solve the task on the highest international level. Early in the process, they had a detailed plan for the aircraft and operator...

The Honourable Minister of Transportation, Mr. Mu’azuJaji Sambo has charged the Management of the Nigerian Maritime Administration and Safety Agency, NIMASA, to ensure prompt deployment of the Modular Floating Dockyard the Agency acquired sometimes ago. The Agency’s Director General, Dr. Bashir Jamoh, who disclosed this while speaking with the media in Lagos, said that the Honourable Minister described the deployment of the Modular Dockyard as one of the low-hanging fruits he hopes...

Friday was the closing day of the 30th SMM which took place on Hamburg’s exhibition campus from 6 to 9 September. During the anniversary edition of the flagship fair the maritime industry demonstrated its commitment to tackling the energy transition. Organisers, exhibitors and trade visitors alike delivered a positive summary of the event. The enthusiasm was palpable. After a four-year wait, the international maritime community was finally able to meet for a physical SMM in Hamburg again:...

Prysmian Group, pioneer in the energy and telecom cable systems industry, will showcase its state-of-the-art range of products and services for the submarine telecoms industry developed by its business unit NSW at the 25th edition of Submarine Networks World, the annual submarine communications gathering, which will take place in Singapore on 7-8 September (Booth F06). For the Group, Submarine Networks World 2022 will be a great opportunity to present its latest innovations to the customers and...

Zero Emission Industries (ZEI), a globally renowned hydrogen technology company for maritime, has announced the first close of its Series A funding round. The round is led by Chevron New Energies, with additional investment from U.S.A-based shipping and logistics company, Crowley. The new funds are expected to enable Zero Emission Industries to roll out their next generation fully integrated marine power system and scale quickly, in order to meet the demand within the maritime industry for thei...

PD Ports has been announced as a Bronze Sponsor for Maritime UK Week. Starting on 10 October, Maritime UK Week 2022 will shine a spotlight on the latest developments in the maritime sector and engage people across the United Kingdom (UK) with the world of maritime. Responsible for enabling 95% of the UK’s global trade, maritime touches every part of people’s lives. As an island nation, during the COVID-19 pandemic, the maritime sector’s key workers kept the UK supplied with fo...

Following the news that the Rt Hon Liz Truss MP has been elected as the next Leader of the Conservative Party and consequently Prime Minister, Chief Executive of Mersey Maritime, Chris Shirling-Rooke, has offered his congratulations. Mr. Shirling-Rooke also called on the new Prime Minister to ensure the interests and economic prosperity of coastal communities are front and centre of the new Government’s plans and agenda in the coming months. Offering congratulations  Mr. Shirling...

A new life jacket that will increase survival time in cold water has been developed jointly by one of the UK’s largest port operators and a specialist safety supplier. The personal floatation device has been two years in the making, filling a gap in the market for marine pilots, and could be rolled out to other workers in water-based roles. Peel Ports Group – working in partnership with Mullion Survival Technology, a producer of marine safety equipment – developed the jacket a...

On 3 September 2022, a ceremony was held to name the new vessel on the Gdynia-Karlskrona line. Champagne was broken on the side of the Stena Estelle ferry by the Deputy Mayor of Gdynia for Economy, Katarzyna Gruszecka-Spychała, the ship's godmother. “Sail on the Baltic Sea, connecting Gdynia with Karlskrona, Poland with Sweden. Be a joy for the crew and passengers on every voyage. Bring glory to those who built you! I name you Stena Estelle,” said Katarzyna Gruszecka-Spychala, and t...

Neste and the University of Helsinki have agreed on a five-year cooperation to support the work of the new CoastClim research centre (Centre for Coastal Ecosystem and Climate Change Research). CoastClim is a new research centre of the University of Helsinki that is carrying out groundbreaking research on the link between the state of the seas and climate change. Combating climate change is at the heart of both CoastClim’s activities and Neste’s strategy. Supporting the research cent...

Chris Davies has been appointed as Group Business Development Lead (Commercial Ship Repair) at A&P and Cammell Laird in a newly established position across both businesses. Chris joined A&P Group as a Business Development Manager Marine in 2018 and has a wealth of connections across the maritime sector. Over the last four years, Chris has been responsible for bringing a range of new customers to A&P from both the commercial and offshore sectors. Dock availability to ship owners Ch...

The first-ever direct container service connecting China and Scotland has berthed at Greenock Ocean Terminal after its maiden voyage – as it gets set to transport over one million bottles of whisky to the Far East. The new east and west bound freight route from Ningbo, China, arrived for the first time at Scotland’s deepest container terminal on Saturday morning at 9.35 am. Partnership and service The service – a partnership between KC Liner Agencies, DKT Allseas and China X...

The acquisition process has now been finalised and Unifeeder becomes part of the DP World Group. They have the pleasure to announce that the acquisition process, which has been initiated in the summer of 2018 has finally come to a close. Unifeeder Group is now part of the DP World Group, an enabler of global trade and an integral part of the supply chain. Sustainable shareholder value They are excited to become part of a company that shares the Unifeeder’s vision of serving the customer...

In the last 12 months, the Port Authority of Valencia (APV) has managed 3,004 containers with shoes destined for 71 countries around the world. The maritime connectivity of Valenciaport allows the footwear industry a greater participation in international trade. America (USA) is the main importer of Valencian and Spanish shoes. Greater maritime connectivity Every day, four containers leave the Valencian docks for 17 American countries. The United States of America (USA) and Mexico lead the ra...

The San Pedro Bay ports of Long Beach and Los Angeles will postpone consideration of the 'Container Dwell Fee' for four weeks, until Sept. 23, 2022. Since the programme was announced on Oct. 25, 2021, the two ports have seen a combined decline of 46% in aging cargo on the docks.  The executive directors of both ports will reassess fee implementation after monitoring data over the next month. Fee implementation has been postponed by both ports since the start of the program. The Long Beach...

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 should move quickly, Xeneta warns, as it may begin to narrow across August and September. Si...

While spot rates for ‘dry standard’ FEUs are declining on the world’s key global trading corridors, the rates for equivalent reefers are bucking the trend on the North Europe to Far East route. According to the latest market intelligence from Xeneta, which crowd sources real-time ocean freight rate data from shippers, the average 40’ HC reefer spot rate stood at a mighty US$ 5230 for the trade on 23 August, compared to dry standard FEUs at US$ 980. At this point, two ye...