Cargo Shipping News

The International Association of Dry Cargo Shipowners (INTERCARGO) has renewed its call for straightforward and practical mid-term measures as the IMO's climate negotiations enter the next phase. With ISWG-GHG-19 and MEPC 83 in the coming weeks, where key decisions on implementing the IMO's GHG strategy are expected, INTERCARGO emphasizes that clarity and simplicity must remain central to any framework adopted.INTERCARGO cautions against overly complicated mechanisms and believes that key priorities for the upcoming negotiations should be simplicity…

Coast Guard and Maritime Transportation Subcommittee Ranking Member Salud Carbajal (CA-24) and Chair Mike Ezell (MS-04) introduced the bipartisan “American Cargo for American Ships Act” to strengthen U.S. Cargo preference laws and promote American economic growth.The legislation aims to reduce the ongoing decline of U.S. flagged ships.In 2022, the Maritime Administration (MARAD) testified before the Transportation and Infrastructure Committee and highlighted the decline of U.S. flagged ships. Per MARAD, there were 106 ships in the foreign trade flying the U.S. flag in 2012.

AsstrA-Associated Traffic AG, a provider of logistics and transportation solutions, successfully completed the first stage of transporting Outside Battery Limits (OSBL) modules for the INEOS Project ONE, an initiative to build an ethane cracker at the port of Antwerp, Belgium.In September, AsstrA's Industrial Project Logistics (IPL) team delivered multiple cargos, including eight modules measuring up to 39 x 12 x 11 meters, from Bauan, Philippines, to Antwerp, Belgium, via the Cape of Good Hope.

CK Hutchison Holdings sold its controlling interest in two major Panama Canal ports to a U.S. led consortium for $22.8billion. BlackRock Inc. Global Infrastructure Partners and Terminal Investment Limited will receive a 90% stake of the Panama Ports Company that operates the Balboa & Cristobal Ports.The sale comes after President Donald Trump expressed concerns about China's influence on key infrastructure in the canal. Trump publicly criticized a Hong Kong based company's control over these ports…

Norwegian tanker company Odfjell has reported its results for the preliminary full-year and fourth quarter of 2024 indicating a record strong year.The company has continued to perform well in the final quarter of the year despite a slightly softer market. It delivered a solid financial result in line with Q4 2023 but below record levels from the last three quarters. Time charter earnings ended at $183 million, compared to $202 million in Q3 2024.The company’s quarterly net result adjusted for one-off items was $53 million compared to $71 million in Q3 2024.During the quarter…

Dutch shipping company Spliethoff has placed an order with Wuhu Shipyard in China for the construction of a new series of eight multi-purpose vessels with an option for two additional vessels.This new series of L-type vessels will be delivered starting the first quarter of 2028.The L-type vessels are specially designed for the transportation of various dry cargo types, including paper products, bulk cargo, project cargo and containers.These Finnish/Swedish 1A Ice-Classed vessels will measure 203.25 meters in length…

Wärtsilä Gas Solutions, part of technology group Wärtsilä, will supply the cargo handling systems for additional two new very large LPG carrier vessels to be built at the HD Hyundai Heavy Industries in South Korea.The ships have been contracted by Norwegian ship owner Solvang. The order follows a similar one placed in 2023 for five vessels being built at the same yard for the same owner.The very large gas carriers (VLGCs) are of Panamax size and form the next generation of eco-vessels.

The catastrophic bridge collapse that closed the Port of Baltimore to ship traffic is unlikely to trigger a major new U.S. supply chain crisis or spike goods prices, due to ample and growing spare capacity at competing East Coast ports, economists and logistics experts say.With six people still missing after a container ship collision destroyed the Francis Scott Key Bridge, it remained unclear how long the span's twisted superstructure would block the harbor's mouth.But port officials…

Mitsui O.S.K. Lines (MOL) and Brazil’s state-owned energy giant Petrobras have signed a charter contract for cargo transfer vessel (CTV) SeaLoader 2, and agreed to start negotiations for a new CTV shipbuilding contract by the end of 2024.MOL signed the deal through its wholly owned subsidiary, SeaLoading Holding, which owns and operates CTVs.SeaLoading started a CTV agreement with Petrobras for SeaLoader 2 on a trial period in January 2022, and successfully completed more than 30 crude oil offloading operations from Petrobras' FPSOs located in the Santos Basin…

Wallenius Wilhelmsen has signed significant contracts whose combined worth amounts to $1.2 billion for the world’s largest RoRo vessel operator.The contracts have been signed with a leading global construction and mining equipment manufacturer, and with one of the largest automotive distributors in the Americas.The first multi-year shipping contract with equipment manufacturer has a duration of three years, plus a two-year extension option.It is valued at approximately $1 billion in total…

Freight costs for ships using Ukraine's alternative export corridor have risen following an attack on a cargo vessel in the Black Sea off Odesa, brokers said on Friday.Ukrainian officials said on Wednesday a Russian missile damaged a Liberia-flagged civilian ship entering a Black Sea port in the Odesa region, killing one person and injuring four others. The vessel was supposed to transport iron ore to China.Later, they said that the corridor was working despite the attack. "As a result of a Russian missile hitting a cargo ship...