Pelagic Partners charters out tanker to International Seaways
Cyprus-based owner and shipping fund manager Pelagic Partners has sealed a charter deal with US tanker player International Seaways for one of its LR1 vessels. The 2009-built Pelagic Turbot has been fixed long-term to the New York-listed owner and operator following its recent docking. The 73,400 dwt unit is the second ship International Seaways has […]
TechnipFMC and Prysmian link up on floating offshore wind
New York-listed subsea player TechnipFMC and Italian cabling giant Prysmian have joined forces to work together on global floating offshore wind projects. A collaboration agreement will see the two companies aim to pioneer a subsea water column solution “from seabed to ocean surface”, joining TechnipFMC’s design and integration capacities with Prysmian’s submarine power cable systems. […]
Air Canada reports 18% cargo revenue growth in Q3
Air Canada saw 18% year on year cargo revenue growth in the third quarter of 2024, primarily due to thriving belly cargo in the Pacific market. Revenues reached C$253m during the quarter ended September 30, up from C$215m during the third quarter of 2023, said the Montreal-headquartered airline. In its third quarter management’s discussion and […]
Egypt reveals $6bn revenue hit as Houthis vow to up campaign against shipping
The Houthis vowed Sunday to keep up their attacks on merchant shipping likely to the consternation of politicians further north along the Red Sea in Egypt. Egypt’s foreign minister Badr Abdel Aati revealed in discussions with International Maritime Organization secretary-general Arsenio Dominguez on Friday that the Egyptian economy has taken a $6bn hit from the […]
Ports set to shut down across British Columbia
A strike at ports across British Columbia looks set to proceed from 8am local time today as no deal has been reached between unions and employers to renew a collective agreement that expired in March 2023. The B.C. Maritime Employers Association (BCMEA) released a final offer on Saturday, which was quickly dismissed by the International […]
US sanctions four Singaporean LNG shipping firms
Four Singapore-based LNG shipping firms have been sanctioned by the United States for their links to Russian gas producer, Novatek. Singapore-based firms LNG Alpha Shipping, LNG Beta Shipping, LNG Delta Shipping and LNG Gamma Shipping, are all majority-owned by New Transhipment FZE, a Novatek subsidiary based in the United Arab Emirates, according to the US […]
MSC contract signals Rongsheng’s return to shipbuilding
Global shipbuilding capacity is set to grow by a percent with the reactivation of one of the most famous shipyards from the previous boom and bust era of shipping. MB Shipbroking, formerly known as Maersk Broker, is reporting that Jiangsu Rongsheng Heavy Industries, once China’s biggest private shipyard, is to reopen with the world’s largest […]
Evergreen pockets $30m from sale of 28-year-old panamax
Evergreen has pocketed a stunning $30m from the sale of the 1996-built, 5,364 teu Ever United with the ship set to deliver charter-free later this month. “A remarkable sale and a historically high level demonstrate that the continued lack of tonnage on the charter market in larger (and smaller segments) is driving a surge in […]
Hosei Kisen orders MPP pair in Japan
Tokyo-based Hosei Kisen has contracted Higaki Shipbuilding to build a pair of 17,000 dwt multipurpose (MPP) vessels, which are set to deliver in 2026 and go on charter to Denmark’s Ultrabulk. No price has been revealed for the newbuilds. The MPP specialist has a fleet of 11 ships and a total of four vessels now […]
Sea1 Offshore orders OSV brace in China
Norwegian offshore vessel owner and operator Sea1 Offshore has ordered two offshore support newbuilds at China’s Cosco Shipping (Qidong) Offshore. The Christen Sveaas-backed company with 17 owned and another 17 managed OSVs said the vessels are based on Skipsteknisk’s ST-245 design and will be fit to serve both oil & gas and renewable markets. The […]