Hapag-Lloyd bags funding for 24 newbuilds
Germany’s Hapag-Lloyd has lined up $4bn in financing for its 24-ship newbuilding spree signed off last year. The Hamburg-based global carrier said the financing consists of four parts. Around $900 will be financed using the company’s own funds, $500m using bilateral mortgage loans from two banks, $1.8bn will be financed via three leasing structures, and […]
Time runs out for Chronos as a shipowner with sale of last kamsarmax
More than 50 years in shipping is ending as Greek kamsarmax specialist Chronos Shipping is letting go of its last ship, the 2012 built, 81,000 dwt Patra, built at Japan Marine United. The bulker is noted to have been sold by several brokers who tie a price tag of just under $16m to the deal. Last week, the Greek […]
Construction starts on ‘cat-flap’ barge access at France’s largest container port
Construction is underway on an ambitious engineering project dubbed the cat-flap to give barge access to Le Havre’s outer port. The $203m construction consists of a 1,800 m channel which will soon be dredged and will link the outer Port 2000 with the historical inner port from where inland vessels can reach the Seine River […]
New Jersey cancels fourth offshore wind solicitation after bidders drop out
The New Jersey Board of Public Utilities (NJBPU) has pulled the plug on the state’s fourth offshore wind solicitation due to the withdrawal of prospective bidders and Shell freezing its involvement with the Atlantic Shores offshore wind project. There were three initial bidders in the fourth solicitation with two withdrawing and only Atlantic Shores submitted […]
BP and EnBW tap Interocean for offshore wind farm work
Offshore support services provider Interocean Marine Services has won a three-year contract to provide marine vetting and assurance to the Morgan, Mona, and Morven offshore wind projects. The three projects are being developed under a joint venture between energy giant BP and Energie Württemberg (EnBW). Morgan and Mona are located in the Irish Sea approximately […]
AD Ports, Al Ain Mills partner on grain facility development at Khalifa Port
AD Ports Group has entered into a 50-year land lease agreement with Al Ain Mills, a subsidiary of Al Hazaa Investment Group, to establish a cutting-edge grain storage and processing facility at Khalifa Port’s South Quay. This strategic collaboration will enhance the port’s capabilities and further solidify its position as a leading trade hub in […]
Panama grants free passage to US warships, raising shipping implications
Recent developments regarding the Panama Canal and Panama’s decision to exit China’s Belt and Road Initiative (BRI) could have notable implications for global trade and geopolitics. This content is locked Select a CN Premium Subscription Package To Unlock The Content! Remember Me Lost your password? Don’t have an account? Register If you liked this post, […]
AGS invests in KGW to strengthen Transpacific network
Accelerated Global Solutions (AGS), a freight forwarding and supply chain solutions firm, has acquired a 15% equity stake in KGW Group Berhad (KGW), reinforcing its position in Transpacific trade and expanding its ability to provide seamless, end-to-end logistics solutions. This strategic investment enhances AGS’s global freight forwarding capabilities by leveraging KGW’s established expertise in Transpacific […]
Puerto Caldera moves over 6 million tons in 2024
Sociedad Portuaria de Caldera (SPC) and Sociedad Portuaria Granelera de Caldera (SPGC) reported positive operational results for 2024, handling over 6.3 million tons of cargo, 638 vessel dockings, and the unloading of 50,000 vehicles. These figures underscore Puerto Caldera’s strategic importance as the primary hub on Costa Rica’s Pacific coast and its significant contribution to […]
Trump’s tariffs and Red Sea rate hikes create perfect storm for US shippers
A delay in tariffs on Mexican imports does little to ease the pain for US shippers still facing a 10% hike on tariffs from China in addition to massive increases in ocean container freight rates due to conflict in the Red Sea. Latest data from Xeneta – the ocean and air freight intelligence platform – […]