Offshore Vessel Prices Soar as Newbuild Values Nearly Double
A recent report highlights the dramatic rise in offshore vessel prices, with some types experiencing nearly a twofold increase in just 3 years.
Corporate News
DP World Acquires 47,000 Containers for the First Time
For the first time, terminal operator DP World has acquired 47,000 TEU containers that are now officially registered and branded to the company.
India Approves Coastal Shipping Bill to Boost Efficiency
India's cabinet has approved the Coastal Shipping Bill, aimed at streamlining shipping operations across the country & better inland integration
Maersk Places Landmark Orders for LNG Dual-Fuel Vessels in China
Brokers report that Maersk has turned to China for its latest expansion, placing significant orders for LNG dual-fuel vessels.
Saudi Red Sea Authority Reports on Coastal Tourism Investment
The Saudi Red Sea Authority and the Ministry of Investment, released a report titled highlighting the significant role of coastal tourism.
Shell Places $480M Order for MR2 Product Tankers in China
Shell has turned to the Chinese shipbuilding market to secure a number of MR2 product tankers valued at approximately $480 million.
Norwegian Cruise Line Becomes NHL's Official Partner
Norwegian Cruise Line announces new role as the Official Cruise Line of the National Hockey League marking a groundbreaking multiyear partnership
Fujian Guohang Expands Orderbook with Methanol-Ready Bulkers
Chinese shipowner Fujian Guohang Ocean Shipping is solidifying its commitment to methanol-ready kamsarmax newbuilds at Wuhu Shipyard.
SIBCON 2024 Highlights Singapore’s Push for Digital Bunkering
The world’s largest bunkering event, SIBCON, is currently taking place in Singapore, the global leader in bunkering operations.
Port Protests Continue as Canadian Dockworkers Halt Overtime
Protests at ports across North America's east coast have been escalating all year, now dockworkers in Montreal join with their own 3-day strike.
CINS Issues New Guidelines for Safe Carriage of Charcoal
Cargo Incident Notification System, an initiative led by the container shipping industry, releases guidelines to ensure safe transport of charcoal
Asian Shipbuilders See Record Highs for Newbuilds in 2024
2024 has been a standout year for Asian shipbuilders, with newbuild prices reaching unprecedented levels, according to data from Clarksons.
Mitsui OSK Lines Linked to New $413M FSRU Order in South Korea
Japan’s Mitsui OSK Lines (MOL) has been connected to a recent order for a floating storage and regasification unit (FSRU) placed in South Korea.
Silversea to Build Hotel in Chile for Antarctica Travelers
Silversea Cruises announces plans to build a luxury hotel in Puerto Williams, Chile, to enhance the experience for guests exploring Antarctica.
OFAC Imposes Sanctions on Marshall Islands Tanker Owner
Office of Foreign Assets Control issues sanctions against tanker owner and vessels due to alleged involvement in the transport of Russian oil.
Vancouver Port Sees Rebound in Container Traffic
Canada’s largest port, the Port of Vancouver, facilitates around $220 billion in trade annually, connecting with up to 170 countries worldwide.
Zhangjiagang Oceanicwit Expands Fleet with Acquisitions
Zhangjiagang Oceanicwit Shipping continues its buying spree, showing no signs of slowing down during an aggressive clutch of acquisitions.
Carnival Corp's Growth Momentum Strong Heading into 2025
Carnival Corporation CEO, Josh Weinstein, emphasized the company's strong momentum during its third-quarter earnings call on Monday morning.
Carnival's Limited Ship Orders to Boost Demand Over Capacity
During the company's third-quarter earnings call, Carnival CEO Josh Weinstein discussed the company's future restrained shipbuilding plans.
Hapag-Lloyd Places $5.25bn Orders with Chinese Shipyards
Hapag-Lloyd choses two Chinese shipyards for latest expansion, an order of $5.25 billion: one of the largest containership deals in history.