DryDel swells ultramax orderbook at Tsuneishi
Greek bulker owner and operator DryDel Shipping is expanding its fleet in a comeback to Japan’s Tsuneishi Shipbuilding with a new contract for another ultramax newbuild. “This addition to our fleet marks another significant investment in Japanese ultramax newbuild tonnage,” the company said. The new deal for the EEDI Phase 3 compliant vessel will be […]
Precious Shipping fixes handy bulker to Oldendorff
Thai dry bulk player Precious Shipping has sealed a charter deal with Germany’s Oldendorff Carriers for its recently acquired modern handysize. The Khalid Hashim-led listed owner said in a filing that the 2018-built Hansa Naree had been fixed between 11 and 13 months. The charter has already commenced at a gross variable rate equivalent to […]
Operations underway to recover lost containers as CMA CGM boxship sets sail for Europe
Operations have begun to locate 44 containers lost at sea from CMA CGM’s boxship hit by severe weather near South Africa after the vessel continued on its way towards Europe. After losing the containers in what was described as a ‘harrowing bad weather experience on the Indian Ocean along South Africa’ by the South African […]
Damaged Vineyard Wind turbine blade deteriorating with more debris in the water
Vineyard Wind, a joint venture between Iberdrola’s US arm Avangrid and Copenhagen Infrastructure Partners, has found further issues with the broken blades from one of its turbines. The company said on Wednesday that “there was an observed compromise to the integrity of the GE Vernova blade” and that a part of the blade remains attached […]
BIMCO: Dry bulk newbuild contracting fell, despite strong market
“During the first half of 2024, newbuild contracting in the dry bulk sector fell 34.2% y/y despite favourable market conditions. A 6.5% y/y increase in prices could be deterring contracting, yet in the second-hand market, where prices rose 15.2% y/y, the number of sales still increased 11.7% y/y. Other factors, such as limited shipyard availability […]
CMA CGM embarks on strategic partnership with Google
CMA CGM and Google entered into a strategic partnership to accelerate the integration of artificial intelligence (AI) across the French ocean carrier’s operations worldwide. By leveraging Google’s AI solutions and insights from experts, CMA CGM aims to help empower its employees’ decision-making. In fact, every programme and tool developed within the partnership will be designed […]
Evergreen chairman: ILA dispute will further disrupt market
Evergreen Marine Corporation (EMC) chairman Chang Yen-yi has cautioned that if US East Coast port workers cannot resolve their differences with the US Maritime Alliance, it could cause more chaos in container shipping. International Longshoremen Association (ILA) president Harold Daggett has warned that industrial action is becoming more likely as the current contract with the […]
Dual Fuel Fleet Additions Continue to Rise
Increase of c.72% year-on-year comparing 2018 vs 2023 Owners are shifting to dual fuel systems in order to achieve net-zero emissions and comply with current environmental standards in the maritime sector and utilising the Fleet Database feature of the VesselsValue platform, we examine the annual deliveries of Dual Fuel vessels since 2018, broken down by […]
Oakland container volumes return to pre-Covid levels
The Port of Oakland moved 193,062 TEUs in June with the box volume increase showing a sign of return to pre-pandemic levels. Full imports jumped 26.8%, with 84,040 TEUs handled by the California port operators in June 2024, in contrast to 66,295 TEUs in June 2023, marking the highest monthly total since August 2022. “We […]
Tecon Santos expansion project to be completed five years earlier
Santos Brasil has announced that the project which will enhance the capacity of Tecon Santos to 3 million TEUs will be completed five years ahead of the initial schedule. This operational capacity, initially slated for 2031, will be delivered to the Port of Santos by 2026. Santos Brasil is moving up the purchase of equipment […]