Yang Ming Achieves Biofuel Bunkering Landmark in South Korea
Yang Ming Marine Transport Corporation revealed its vessel YM Together has become the first foreign-flagged ship in South Korea to use biofuel.
Shipping
Container Shipping Rates Now Quadruple Pre-Pandemic Levels
Container freight rates continue to rise, making Q3 potentially one of the most profitable quarters in the history of liner shipping.
Trial Delayed: Captain Missing in Illegal Oil Transfer Case
The trial at the Indonesian district court in Batam has been postponed due to the disappearance of the accused, the captain of the tanker involved.
Maersk Warns of Continuing Disruptions to Red Sea Routes
The coming months are expected to be difficult for carriers and businesses due to ongoing disruptions in container shipping through the Red Sea.
New Hanseatic Global Terminals Revealed by Hapag-Lloyd
Hapag-Lloyd's terminal and infrastructure division has been renamed Hanseatic Global Terminals. The company is the world’s fifth-largest carrier.
ONE to Improve Thailand Indonesia Service
Ocean Network Express (ONE) will be upgrading its Thailand Indonesia Service (TID1) starting from July 10th 2024.
Car Carrier Fleet Expected to Grow by 40% in Next Few Years
The booming market for PCTCs, where daily rates have hit six figures for months, is projected to expand by around 40% in the next few years.
COSCO Unveils New Mexico Pacific-Far East Service
COSCO Shipping has introduced its new Mexico Express Service (WSA5), linking major Mexican Pacific ports with prominent Far East ports.
Panama Canal Announces More Transit & Draft Increases
The Panama Canal Authority (ACP) has recently announced an additional increase in both draft limits and daily transit numbers.
MSC Enhances Asia Service Network with New & Upgraded Routes
MSC has announced updates to its Asia service network by enhancing two existing services while also introducing a brand new one.
Missile Attack on MSC SARAH V in the Arabian Sea
On Monday, June 24, United Kingdom Maritime Trade Operations (UKMTO) reported that a vessel was attacked while navigating the Arabian Sea.
Mitsui OSK Lines & Kristian Jebsen in Gearbulk Takeover Deal
MOL, Japan's leading shipowner, is set to acquire Gearbulk from Kristian Jebsen, with the transaction expected to finalize by January 2025.
Panama Canal Announces Increase in Daily Transits
The Panama Canal has announced an increase in the number of daily transits rising from a total of 32 to 33, effective from July 11th.
LPG/Ammonia Carrier Order for Tianjin Southwest Maritime
Tianjin Southwest Maritime has returned to CSSC-affiliated Huangpu Wenchong Shipbuilding to commission larger ammonia dual-fuel gas carriers.
ONE Modern is First Vessel on West India North America Route
ONE Modern has become the inaugural vessel for the new West India North America service, establishing a route between India and ports in Georgia.
Euroseas Enters Time Charter Contract for Newbuild Feeder
The Nasdaq-listed Greek boxship owner, Euroseas, has secured a time charter contract for a new feeder ship that is currently being built.
WSC Annual Report Shows Record Low of Containers Lost at Sea
The World Shipping Council has published its annual report on containers lost at sea, noting a substantial decrease to 221 boxes lost in 2023.
Global Liner Fleet Hits 30M TEU for First Time in History
Per Alphaliner data, the global liner vessel fleet has surpassed 30M TEU for the first time, driven by a surge of newbuilds from Asian shipyards.
LNG & Container Ship Orders Push Delivery Dates into 2029
Orders for LNG carriers and container ships continue to dominate the order books at Asian shipyards with brokers reporting an increase in orders.
Further Raft of Shipping Sanctions for Russia During G7
As G7 leaders meet in Italy this week, a new series of coordinated sanctions against Russia have been making headlines, many affecting shipping.