Tc News

Oslo-listed dry bulk operator Western Bulk reported a marked earnings recovery in the second half of 2025, capitalizing on a broad-based rebound in freight markets and tighter effective vessel supply.According to the company’s Second Half Year Report 2025, Western Bulk generated a net profit after tax of USD 7.4 million in 2H 2025, compared with a net loss of USD 5.2 million in the same period a year earlier. For the full year, the group posted a net profit of USD 5.4 million…

Mitsubishi Heavy Industries Transportation and Construction Engineering, Ltd. (MHI-TC), a part of Mitsubishi Heavy Industries (MHI) Group, has built and completed delivery to Yokohama City of the Mitsubishi Marine Bridge (MMB), a self-propelled mobile seaport passenger boarding bridge (SPBB). Manufactured at MHI's Mihara Machinery Works in Hiroshima Prefecture, the MMB was put into service at Osanbashi Yokohama International Passenger Terminal on January 13. Capable of connecting to the large cruise ships that dock at Osanbashi…

The 34th session of the Assembly of the IMO concluded in London with the adoption of a new strategy to strengthen Member State compliance with IMO rules, by expanding capacity-development support.The Capacity Development Strategy was among 22 resolutions adopted by the Assembly, including decisions on the Organization’s budget, financial statements, work program and strategic plan, among others. The Assembly also elected a new Council to serve for the 2026–2027 biennium.The IMO…

Steelpaint GmbH has reported strong growth in orders for corrosion protection coatings on Germany’s inland waterways, with a succession of new contracts awarded by local authorities and hydraulic engineering contractors throughout 2025.Among the raft of new projects is the work WSA Main is carrying out on the Main River at Viereth-Trunstadt. The Main is a major tributary of the Rhine forming one of Europe’s most important inland transport routes between the North Sea and the Black…

Global trade flows have adjusted to new geopolitical developments last week, with Red Sea diversions maintaining their grip on vessel demand patterns. Against this backdrop, timecharter earnings hit their highest levels since October 2024, with Capesize rates leading the rally while smaller segments lagged behind. The S&P market saw continued interest in modern tonnage as owners position for tightening supply fundamentals. Values for 5YO Capesizes of 180,000 DWT have rallied impressively this year…

Wallenius Sol took delivery of the RoRo vessel South Enabler from the Visentini Shipyard.In February 2025, a new chapter began in European shipping as Wallenius Sol announced the acquisition of Mann Lines, significantly expanding the Swedish shipping line’s customer base and presence in key markets. As part of the acquisition, a new vessel under construction was included. The new RoRo cargo vessel was officially delivered on 11 June, 2025, during her westbound passage past Gibraltar.“She’ll…

Due to market uncertainty, overall sale and purchase levels for Bulkers have fallen year on year, with a decrease of c.58% and just 77 reported this year to date, compared to 182 for the same period last year. Since the US proposed fees to Chinese-built vessels entering US ports in February, sale and purchase levels for Chinese-built Bulkers has fallen by c.58% with just 62 transactions reported since February, compared to 146 for the same period last year.Sales for Bulkers built in China fell from c. 42% in Q4 2024 to c. 33% in Q1 2025, falling below Japan who ranked first, representing c.

CIMAC WG 7 Fuels has released a new guideline titled “Frequently Asked Questions (FAQ) - ISO 6583:2024: Methanol as a Fuel for Marine Applications – General Requirements and Specifications.”With the publication of ISO 6583:2024 in November 2024, the first standard for methanol as a marine fuel, numerous questions were expected to arise. Consequently, ISO/TC 28/SC4/WG18 requested CIMAC WG 7 Fuels to support the standard and the marine industry by creating a FAQ document. CIMAC WG 7 Fuels formed a sub-group…

Western Bulk improved its trading performance (Net TC) from $15 million to $24.4 million in 2024 while restructuring the business to lower the annual G&A costs by 15 % to $22 million going forward. Excluding one-offs from restructuring and provisions, the net result was $2.6 million and Net TC $28.6 million. The net result for the entire year of 2024 ended at $-2.7 million. “We have improved our business in 2024 and will improve it further in 2025. Although we expect challenging market conditions in the first half of 2025, I am confident we will show good profitability this year”, Torbjørn Gjervik, CEO of Western Bulk. The second half of 2024 saw record-low market volatility, limiting trading opportunities.

The time charter (TC) rates for Post Panamax container vessels rose by 111% year-on-year (y-o-y) in 2024, hitting 73,330 USD/Day, and has led to a huge uptick in newbuild orders and a slowdown in demolitions according to Veson Nautical’s ‘2024 End- Of-Year-Report’.The report states that the bullish market conditions for the container sector are reflected in the TC rates as well as the 76% y-o-y increase in new ship orders which witnessed 321 deals including options, compared to 182 orders in 2023.“The container market experienced remarkable growth over the past year…

The last 12 months has seen values rise to near-record levels across several sectors of the shipping industry, fuelled by the post-covid shipping boom and a strong newbuild market.The report states that the newbuild market experienced continued growth, with a notable rise in orders, particularly in the Post/Panamax and Capesize sectors. Chinese dominance in both ordering and shipyard production remains a defining trend, further consolidating their position in the bulker industry.Container…

Lloyd’s Register’s (LR) Maritime Decarbonisation Hub has conducted risk assessment workshops which indicate that a comprehensive overhaul of seafarer training is required as the industry transitions to zero and near zero GHG emission fuels.A report has been produced as a result of the workshops by the Maritime Just Transition Task Force (MJTTF), in collaboration with Lloyd’s Register’s Maritime Decarbonisation Hub and the United Nations Global Compact (UNGC) Ocean Stewardship Coalition.

The Technical Cooperation Committee held its 74th session at IMO Headquarters in London from Junw 24 to 28 and made progress on the IMO Capacity-Development Strategy for providing technical support for Member States. The Committee approved a new title (IMO Capacity-Development Strategy) and structure for the document. The draft revised comprehensive strategy combines the existing Capacity-Building Decade 2021-2030 Strategy, with both the strategy for the long-term financing of…

A Mexican energy developer is seeking U.S. permission to export gas to Mexico, turn it into liquefied natural gas (LNG) and send it to countries with U.S. free-trade agreements, its filing with the U.S. Department of Energy showed.Mexico-based Gato Negro Permitium Uno and partners including Houston-based Big River Energy plan to construct four LNG processing plants in Manzanillo on Mexico's Pacific coast to produce up to 4 million tonnes per annum (MTPA) of LNG, the company said.Gato Negro began the Mexican permitting process in June 2022, it said in the May 10 filing.

Hamburg-based ship finance platform oceanis’s Q4 State of Ship Finance Report comes with a thank-you to shipping companies that are committed to the green transition.Over the past decade, oceanis has seen large changes to the ship financing landscape towards greener projects. The most obvious green financiers are the Poseidon Principles banks, the initiative launched in 2019 whose signatories manage 70% of the world’s shipping loans. At the same time, many other banks and funds are moving away from financing ‘brown’ assets and trades.

The first in a new series of 12 methanol-fueled container ships being built by Hyundai Heavy Industries for Maersk has been launched.The series will be fitted with MAN G95ME-LGIM10.5 EGR-TC engines. Compared to industry-standard vessels, these 350-meter (1,148-foot) 16,000 TEU vessels will be 20% more energy efficient per transported container. The vessels will have a 16,000m3 methanol tank, so they will be able to complete an entire round-trip, for example Asia-Europe, on green methanol.The crew accommodation and bridge will be located at the bow to enable increased container capacity.

An ailing crewmember was airlifted from a pipelay vessel in the U.S. Gulf of Mexico on Sunday, the U.S. Coast Guard said.Coast Guard Eighth District and Coast Guard Sector New Orleans command center watchstanders received a report at approximately 10 p.m. Saturday from the Solitaire of a 32-year-old crewmember aboard experiencing severe abdominal pain.Sector New Orleans watchstanders coordinated the launch of a Coast Guard Air Station New Orleans MH-60 Jayhawk helicopter aircrew to assist.

Mexico plans to build a liquefied natural gas (LNG) export hub worth between $4 billion and $5 billion in the Gulf of Mexico that will help serve European demand, President Andres Manuel Lopez Obrador said on Tuesday.The planned LNG facility in the port of Coatzacoalcos, in the eastern state of Veracruz, would transport gas by boat to Europe, Lopez Obrador said."We're about to promote private sector involvement, it's going to be an investment of $4-5 billion this plant," he told a regular news conference.Lopez Obrador had previously floated the idea of an LNG plant in Coatzacoalcos, alongside

Navios Maritime Holdings Inc. on Wednesday announced it has reached a deal to sell its 36-vessel dry bulk fleet to Navios Maritime Partners L.P. approximately $835 million.Navios Holdings, which holds a 10.3% interest in the US publicly listed shipping company Navios Partners, with the sale officially exited direct fleet ownership. Going forward, the company said kit plans to focus on growing Navios South American Logistics Inc. business."We believe Navios Logistics is a leading…

IMO's Technical Cooperation Committee at its 71st session (TC 71) (20-24 September) has approved the establishment of an IMO Regional Presence Office (RPO) for the Pacific Islands region. If approved at the thirty-fourth extraordinary session of the Council (08 - 12 November 2021), this will see the Pacific Region become the sixth to feature an IMO RPO.The existing RPOs are: Abidjan, Côte d'Ivoire for west and central Africa (Francophone); Accra, Ghana for west and central Africa (Anglophone)…

Classification society DNV said its recently released updates to its rules for ship classification include a raft of new class notations designed to enable the maritime industry to tackle the decarbonization challenge. The new updates include “Fuel Ready”, a class notation that offers shipowners the option to prepare for a later conversion to multiple different alternative fuel options, and “Gas fueled ammonia” for ammonia fueled vessels.DNV’s annual report on the energy transition…

President Joe Biden on Wednesday signed a new raft of executive actions to combat climate change, including pausing new oil and gas leases on federal land and cutting fossil fuel subsidies, as he pursues green policies he billed as a boon for job creation.The orders map out the direction for the Democratic president's climate change and environmental agenda and reverse the policies of his Republican predecessor, Donald Trump, who sought to maximize U.S. oil, gas, and coal output by removing regulations and easing environmental reviews."In my view…

U.S. President Joe Biden on Wednesday announced America's return to the international Paris Agreement to fight climate change, the centerpiece of a raft of day-one executive orders aimed at restoring U.S. leadership in combating global warming.The announcements also included a sweeping order to review all of former President Donald Trump's actions weakening climate change protections, the revocation of a vital permit for TC Energy's Keystone XL oil pipeline project from Canada…