Sapura Energy chairman and CEO to step down
Malaysian offshore services player Sapura Energy has announced that its chairman, Datuk Mohammad Azlan Abdullah, and group chief executive officer Datuk Mohd Anuar Taib, will leave their positions in the fourth quarter of the current financial year. Sapura Energy said in a filing with Bursa Malaysia that Mohammad Azlan will step down from his chairmanship […]
Sea1 Offshore extends vessel contract with PXGEO
Norwegian offshore vessel operator Sea1 Offshore has landed a charter contract extension with marine seismic player PXGEO for the offshore subsea construction vessel (OSCV) Sea1 Spearfish. The Oslo-listed company has fixed the 2014-built vessel, formerly Siem Spearfish for one year to support PXGEO’s worldwide operations. The extension kicks in during the first quarter of 2025. […]
PV Drilling seals Pertamina jackup rig extension
Petrovietnam Drilling and Well Service Corporation (PV Drilling) has secured a three-year contract extension from Indonesia’s Pertamina for the PV Drilling II jackup rig. The deal signed with Pertamina Hulu Energi ONWJ will keep the 2009-built rig utilised into late 2028. The rig, which has been operating for Pertamina since December 2022, will continue to […]
KEZAD Group to establish 1.1 sq km dedicated zone for aquaculture and related industries
Khalifa Economic Zones Abu Dhabi (KEZAD Group), the largest operator of integrated and purpose-built economic zones in UAE, has announced plans to establish a specialized zone for aquaculture and related industries. This new zone responds to the rising demand for dedicated infrastructure and connectivity to serve both domestic and international markets from Abu Dhabi. KEZAD […]
Trump Tariffs: Impact & Analysis by Freightos
Late November is typically a slow season for transpacific ocean freight. But through last week transpacific ocean rates remained level and elevated at more than US$5,000/FEU since mid-October, with prices to the East Coast climbing past the US$6,000/FEU so far this week. This rate strength probably reflects some frontloading ahead of both a possible renewed ILA strike […]
Leading Port Operators’ Influence Goes Beyond Global Trade
Port and terminal operators play a pivotal role in the global shipping industry. The largest terminal operators, with their strategic control over key ports worldwide, have a profound impact on not only the flow of goods but also the geopolitical landscape. Their influence shapes the dynamics of international trade, giving them a significant role in […]
Shanghai hits 40 million TEU milestone as volumes grow at Chinese ports
From January to October 2024, Chinese ports handled a total of 276.4 million TEUs, reflecting a 7.6% year-on-year growth. In October, Shanghai Port recorded a container throughput of 4.15 million TEUs, up by 3.8% compared to the same month last year, while Ningbo Zhoushan Port processed 3.31 million TEUs, marking a 12.9% year-on-year increase. Shenzhen […]
Open Banking Providers: Backbone of OB Ecosystem
Open banking is transforming the financial landscape by enabling secure, permission-based data sharing between banks and third-party applications. Regulations like PSD2 effectively ended traditional banks’ monopoly over customer data. Yet behind this innovation are open banking providers — tech companies that create and manage the secure connections that allow data to flow safely and efficiently. […]
MSC changes USA to SAEC service rotation
Swiss/Italian box line MSC has announced adjustments to its USA to SAEC service, which connects the United States with the East Coast of South America. The largest ocean carrier said the port of Freeport in Texas will be replaced by the port of Caucedo in the Dominican Republic on the southbound sailings. Consequently, the updated […]
Rotterdam-Singapore corridor completes successful LBM bunkering pilot
The Rotterdam-Singapore Green and Digital Shipping Corridor (GDSC) partners successfully conducted a pilot project for the bunkering of mass-balanced liquefied bio-methane (LBM) at the Port of Rotterdam on 19 October. Shell supplied 100 tonnes of mass-balanced LBM to the liquefied natural gas-powered container ship CMA CGM Tivoli. Produced from waste-based feedstock, this LBM offers a […]