Odfjell beefs up chemical tanker orderbook
Norwegian chemical tanker owner and operator Odfjell has penned contracts to add three more vessels to its orderbook. The Oslo-listed company revealed in its fourth-quarter earnings results it had signed up for one 25,000 dwt stainless steel newbuilding for delivery in 2026 and a pair of 49,000 dwt coated chemical tankers set to join the […]
AI freight agents are coming sooner than you think
Mads Frank Markussen, head of freight research and FFA at grain brokerage Copenhagen Merchants, returns to the increasingly discussed issue of artificial intelligence and the future of chartering. Consolidation and financialization are reshaping global markets, particularly in the freight and commodity sectors. As a handful of larger players gain disproportionate control over freight capacity and […]
Cadeler pens vessel reservation deal worth up to $56m
Copenhagen-headquartered offshore wind installation player Cadeler has signed a vessel reservation agreement with the developer of the BC-Wind project Ocean Winds. The contract is for installing and transporting around 30 wind turbine generators at the BC-Wind offshore wind farm in the Polish Baltic Sea. The potential value of the contract to be negotiated during the […]
Global bunker indices show moderate decline
During the sixth week of the year, Marine Bunker Exchange (MABUX) indices experienced a moderate decline. The 380 HSFO index dropped by US$4.26 to US$529.35/MT, the VLSFO index fell by US$2.79 to US$619.14/MT, edging closer to the US$600 threshold, while the MGO index declined by US$3.81 to US$783.26/MT. “At the time of writing, the moderate […]
Yokohama Port to trial advanced CONPAS system
The Port of Yokohama is set to trial a new feature of the Container Fast Pass (CONPAS) system from 17-21 February 2025, at its Minami Honmoku Pier. This new function is aimed at improving container transport efficiency by enabling advanced checks of incoming containers’ information. The feature links CyberPort (a trade platform) with CONPAS and […]
New process for approval of electronic bill of lading systems rolled out by IG P&I
The shipping industry has long been weighed down—sometimes literally—by mountains of paperwork including the all-important transport document called the Bill of Lading.. According to The FIT Alliance’s 2024 electronic Bills of Lading (eBL) survey, eBL adoption has seen steady growth since 2022.. The share of users opting for both paper and electronic bills of lading, […]
We Asked AI: Container Ships Navigating Icy Waters
The sight of massive container ships cutting through frozen seas is both awe-inspiring and a testament to human resilience in global trade. The following gallery showcases a stunning collection of AI-generated images depicting these giants of maritime commerce navigating icy waters. From towering ice formations to vast, frozen expanses stretching to the horizon, these visuals […]
LR joins LOWNOISER to combat underwater noise
Lloyd’s Register (LR) has become a partner in the LOWNOISER project, an initiative aimed at addressing the issue of underwater noise pollution caused by maritime traffic. The European Union (EU) is funding the project with US$6.5 million, bringing together 15 partners to create innovative noise reduction technologies, set regulatory standards, and improve industry practices to […]
Intra-UK rail freight service launches operations
A new intra-UK rail freight link operating between Teesport and Manchester’s Trafford Park has completed its inaugural service. This service could eliminate up to 40 heavy vehicle movements from the congested Trans Pennine road network for each one-way trip, aiming to help businesses in both the North East and North West reduce carbon emissions and […]
CMA CGM and AD Ports establish Congo terminal venture
French liner giant CMA CGM has reached an agreement with AD Ports Group to jointly develop, manage and operate the new multipurpose terminal at the Port of Pointe Noire in the Republic of the Congo. The deal will see the formation of a joint venture majority-owned by the Abu Dhabi-based ports and logistics giant, which […]