The 8,500TEU container ship, OOCL Durban has collided with bridge crane at the Port of Kaohsiung. The 8,500TEU OOCL Durban has crashed with the No. 70 Yangming Wharf bridge crane at the Port of Kaohsiung in Taiwan causing two cranes to coll

The Sri Lankan Navy on Wednesday said that operations to tow the burnt X Press Pearl ship had been halted after the rear end of the vessel had hit the sea bed. Navy Spokesman Captain Indika De Silva told Xinhua that following a few hours of

Canadian shipowner Algoma Central Corporation has announced the execution of an alternative order for an additional Seawaw-Max self-unloading bulk carrier in Yangzijiang Shipbuilding. The new vessel will be Algomas first Equinox 2.0 bulk ca

The Baltic exchanges main sea freight index slipped for a sixth straight session on Wednesday due to a fall in capesize rates. The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities

Carbon emissions produced from seaborne coal exports stayed steady last year despite the impact of the coronavirus on consumption, a study showed on Wednesday, although the sector faces growing environmental scrutiny. Coal is among the bigg

DNV, the worlds leading classification society, has awarded IC Technology (ICT) an Approval in Principle (AiP) for its new liquid hydrogen membrane type containment system. Hydrogen is emerging as a key to enabling the energy transition, in

A Singapore-registered containership X-Press Pearl had caught fire on 20 May 2021 in the waters of Sri Lanka after departing from the Indian port of Hazira. As reported by the ship operator, X-Press Feeders, the ship was carrying 1,486 cont

Volvo Penta is expanding its capabilities, experience, and range by becoming the majority shareholder of Norwegian marine battery and electric driveline solutions supplier ZEM AS. Volvo Penta has announced an exciting new acquisition of ZEM

Landbridge Group signed a sale-leaseback contract of VLCC Landbridge Glory with Taiwans Sincere Navigation Corporation. On May 28, Bridge Poiema Limited, a 55%-owned subsidiary of Sincere Navigation Corporation, acquired a very large crude

On June 1, China Development Bank Leasing announced that six wholly-owned SPV companies (buyers) and six SPV companies (sellers) entered into a ship purchase transaction on May 31, 2021. The buyers agreed to purchase the ship at a price of

Demand drivers and freight rates Driven by the pandemic and stimulus-induced consumer spending on retail goods, container shipping has been a great place to be for carriers and tonnage providers, while proving a headache for those with carg

Demand drivers and freight rates A recent small and short spike in oil product tankers shows just how far the tanker market still has left to go on its recovery journey. LR2 earnings rose to USD 26,823 dollars per day on 26 March as the Sue

Governments of the three countries, together with the Global Maritime Forum and the Mrsk Mc-Kinney Mller Center for Zero Carbon Shipping, will spearhead initiatives decarbonizing the entire maritime value chain. Carrying between 80-90% of g

The Nordic Green Ammonia-Powered Ship concept study brings together key players in the entire value chain for a green ammonia-powered gas carrier. A major conclusion is that green ammonia holds potential to play a significant role in decarb

As part of the companys fleet improvement plan, Wan Hai Lines has confirmed an order of 4 container vessels with SAMSUNG HEAVY INDUSTRIES CO., LTD. The contract was signed on 31st May 2021. The contract includes four (4) 13,100Teu container