Ocean Transportation News

Mitsui O.S.K. Lines, Ltd. (MOL) and Rio Tinto have signed the partnership agreement to enhance collaboration on both safety and crew welfare initiative and decarbonization of maritime transportation.MOL and Rio Tinto have agreed to further collaborate on shipping decarbonization in addition to the existing commitment to the DOO program through a deal signed on January 24, 2024.The DOO program is a Rio Tinto initiative aimed at enhancing safety and improving crew welfare in the…

Ocean Network Express (ONE) has launched the world’s first dual-temperature refrigerated container equipped with controlled atmosphere functionality in collaboration with Pan Pacific International Holdings (PPIH) and NAX Japan.It is the world's first use of marine transportation of the dual-temperature refrigerated container equipped with controlled atmosphere functions that will transport various types of perishable goods and fruits from Japan to overseas stores of Don Quijote…

Mitsubishi Corporation’s Pyxis Ocean, chartered by Cargill, is the first vessel to be retrofitted with two BAR Tech WindWings.The 37.5 meter sails were produced by Yara Marine Technologies and are expected to generate average fuel savings of up to 30% on new build vessels.The installation of the wings took place at the COSCO shipyard in China and the Pyxis Ocean is now on the water, conducting her maiden voyage.“The maritime industry is on a journey to decarbonize—it's not an easy one, but it is an exciting one,” said Jan Dieleman, President of Cargill’s Ocean transportation business.

The installation of rotor sails on board a 82,000 dwt Kamsarmax bulk carrier is expected to generate a 10% reduction in fuel burn and emissions.The TR Lady was retrofitted with three 5×24m rotor sails from Anemoi Marine Technologies at China's Chengxi Shipyard in June 2023. The ship is owned by TR Lady Shipping, a portfolio company of Tufton Investment Management, and is on a time charter with Cargill.The technology was installed on Anemoi’s patented transverse rail deployment system…

Cargill has signed a three-year contract that will see ZeroNorth become Cargill’s primary software provider for optimisation of over 600 vessels. Cargill commenced its strategic partnership with ZeroNorth in 2020. The partnership has expanded over time, with Cargill and ZeroNorth working together to develop ZeroNorth’s fuel model and dry bulk solutions.Eman Abdalla, Global Operations Director for Cargill Ocean Transportation, added: “We are delighted to announce that we’ve chosen ZeroNorth as our vessel and voyage optimisation digital platform.

The Sea Cargo Charter, a global framework for assessing and disclosing the climate alignment of chartering activities, has released its annual report covering 2022, highlighting the disclosure of emissions data and calling for action from the IMO.The 33 signatories covered by the report account for more than 17% of total bulk cargo transported by sea over the year. Their average reporting rate increased since last year to 90%.“While achieving full decarbonisation by 2050 may seem far off…

Minerva Bunkering has completed its first ten bunker deliveries in Egypt, including to Hafnia’s MV Hafnia Azurite and Cargill Ocean Transportation’s MV Gat Feeling.  Minerva is licensed to operate in Suez Canal waiting anchorages and 12 Egyptian ports, including East and West Port Said, Alexandria, Damietta, Suez, and Sokhna.

Danish shipping company J. Lauritzen said it signed letter of intent for construction of minimum two methanol dual-fuel 81,200 dwt Kamsarmax bulk carriers, which will be built by Tsuneishi Shipbuilding, Japan, and be capable of trading with zero carbon emissions when powered by green methanol, and biodiesel.The vessels will be among the very first zero emission capable bulk carriers in the world, and they will be fully owned by a newly established entity named “Lauritzen NexGen Shipping” which J.

An oil tanker runs aground off eastern China, leaking fuel into the water. Another is caught in a collision near Cuba. A third is seized in Spain for drifting out of control.These vessels were part of a "shadow" fleet of tankers carrying oil last year from countries hit by Western sanctions, according to a Reuters analysis of ship tracking and accident data and interviews with more than a dozen industry specialists.Hundreds of extra ships have joined this opaque parallel trade…

Cargill, one of the world's biggest ship charterers, is stepping up a push to resurrect wind power for cargo ships as the agricultural commodities group moves to cut emissions from its chartered fleet, a top executive said.With about 90% of world trade transported by sea, shipping accounts for nearly 3% of the world's CO2 emissions, yet environmental campaigners say regulatory efforts by the sector to cut emissions are still slow.Cargill will test a dry bulk vessel with two wind sails carrying cargo onboard later this year…

Bumper soybean harvests in Brazil and unsold grains stocks in the United States are set to boost dry bulk shipping rates as buyers including China restock after supply shocks last year, leading freight operators said.The dry bulk shipping market has been hit in recent months by slow activity, partly driven by the COVID lockdowns in China, one of the world’s biggest generators of seaborne commodities trade including grains as well as coal and iron ore.Grains supplies were also affected by the war in Ukraine for part of last year until a United Nations-backed corridor was set up…

The United States' Federal Maritime Commission said it is asking the top 20 shipping lines calling the U.S. to provide information on how they are complying with the new prohibitions on retaliation established by the Ocean Shipping Reform Act of 2022 (OSRA).The added protections against retaliation were created by Section 5 of OSRA and became effective immediately upon the law’s enactment in June. The prohibitions apply to common carriers, marine terminal operators (MTO), and…

Diana Shipping Inc. announced it has taken delivery of a newly acquired secondhand bulker that is due to commence a time charter contract with Cargill.The 2018-built, 60,362 dwt DSI Pyxis, formerly STH Montreal, is one of nine Ultramax dry bulk vessels that the company purchased through a wholly-owned subsidiary in August 2022.Diana, through the same wholly-owned subsidiary, entered into a time charter contract for DSI Pyxis with Cargill Ocean Transportation Singapore Pte. Ltd. at a gross charter rate of $17,100 per day, minus a 4.75% commission paid to third parties, for a period of minimum 10 months to maximum 12 months. The charter is expected to commence on October 15…

If shipping is the beating heart of global trade, its pulse is about to get slower. Faced with uncertainty about which fuels to use in the long term to cut greenhouse gas emissions, many shipping firms are sticking with aging fleets, but older vessels may soon have to start sailing slower to comply with new environmental rules.From next year, the International Maritime Organization (IMO) requires all ships to calculate their annual carbon intensity based on a vessel's emissions…

In a new take on ancient technology, Cargill, one of the world's biggest charterers of ships, is to add state-of-the art sails to a vessel early next year to test whether wind power can cut its carbon emissions, a top company executive said.With about 90% of world trade transported by sea, shipping accounts for nearly 3% of the world's CO2 emissions, yet environmental campaigners say efforts by the sector to cut emissions are slow.Leading agri group Cargill will start testing a dry bulk vessel with two wind sails in the first quarter of 2023…

Mitsubishi Corporation’s Pyxis Ocean is slated to be the first vessel fitted with BAR Technologies’ (BAR Tech) pioneering wind propulsion technology WindWings.The installation, anticipated for deployment at the beginning of 2023, comes as the next step in a collaboration launched in 2019 between Cargill and MC Shipping Ltd. Singapore Branch – the shipping arm of the Mitsubishi Corporation – to increase energy savings and reduce emissions from international shipping.Two WindWings will be delivered by Yara Marine Technologies and installed on the five-year-old…

The Ocean Shipping Reform Act of 2022 (the Act) was signed by President Biden on Thursday, June 16, 2022. The long term fixes, which require Federal Maritime Commission rule-making, establishes additional requirements requiring the FMC to issue rules related to certain fee assessments, prohibited practices, and establishment of a shipping registry, and prohibited conduct for ocean carriers. It further authorizes the FMC under certain circumstances to issue an emergency order requiring common carriers to share information directly with shippers and rail and motor carriers.

The Biden administration recently issued a sweeping Executive Order [1] aimed at protecting and enhancing competition, and the transportation sector—including air, ocean, and rail—is among the industries specifically identified and likely to see heightened antitrust scrutiny under the new directives. This executive action was soon followed by the long-awaited announcement of Biden’s pick to lead the U.S. Department of Justice’s Antitrust Division (Division), Jonathan Kanter, who…

A coalition of 19 countries including Britain and the United States on Wednesday agreed to create zero emissions shipping trade routes between ports to speed up the decarbonization of the global maritime industry, officials involved said.Shipping, which transports about 90% of world trade, accounts for nearly 3% of the world's CO2 emissions.U.N. shipping agency the International Maritime Organization (IMO) has said it aims to reduce overall greenhouse gas emissions from ships by 50% from 2008 levels by 2050.

The head of a U.S. commission that oversees ocean transportation said in an interview on Tuesday he suspects some ocean carriers have improperly charged importers, one of many factors driving supply chain woes.A broad range of companies importing goods have been frustrated not only by the pile-up of ships outside harbors but also by higher shipping costs and fees for lapses many say are for problems outside their control.U.S. Federal Maritime Commission Chairman Dan Maffei said the current mess is largely driven by a demand surge as the U.S.

Japanese shipping giant Mitsui O.S.K. Lines (MOL) and its dry bulk subsidiary MOL Drybulk have signed a memorandum of understanding with steelmaker Tata Steel to develop and deploy an environmentally friendly bulk carrier.MOL will partner with Tata Steel on this innovative project to reduce greenhouse gas emissions in its supply chain.Peeyush Gupta, Vice President, Supply Chain, Tata Steel, said: "The objective of the agreement is to reduce greenhouse gas (GHG) emissions in the ocean transportation of raw materials for production of steel.

Cargill, one of the world's biggest charterers of ships, has cut nearly 1.5 million tonnes of gross carbon emissions from its fleet since 2017, a top company executive said, as it steps up efforts to go green.With about 90% of world trade transported by sea, global shipping accounts for nearly 3% of the world's CO2 emissions.The United Nations aims to reduce the industry's greenhouse gas emissions by 50% from 2008 levels by 2050. This target will require the swift development…

A lack of orders for new ships is providing further support to the dry bulk freight market as demand for commodities accelerates, a senior executive at U.S. agribusiness giant Cargill said.The Baltic Exchange's main sea freight index, which gauges the cost of shipping commodities such as grain, iron ore, cement, coal and fertilizer, has rallied close to an 11-year high this week, helped by rising rates for larger capesize ships.Shipping officials say orders for new vessels are…