Shipping News

An international study has found whale sharks and ships are more likely to collide by the end of the century due to climate change.The researchers used global climate models and satellite-tracking data of 348 tagged whale sharks from 2005 to 2019 and combined it with shipping traffic models and habitat suitability estimates to predict the risk of interaction.Whale sharks are highly mobile marine megafauna that can travel hundreds or thousands of kilometers annually. The species…

Genoa-based shipping and logistics company, the Fratelli Cosulich Group, has officially started its Empowering Minds project.The post-graduate traineeship, managed by Corporate HR, offers a unique opportunity to the new generation approaching the workplace for the first time. The six selected young graduates have started this week, with lessons led by various internal experts acting as teachers. Over the next six months, these talented young individuals will gain in-depth knowledge of all 15 of the group's business units…

The global shipping industry is not on track to meet its target of having zero-emission fuels account for 5% of all fuels by 2030, according to a new report from the UCL Energy Institute, UN Climate Change High-Level Champions and the Getting to Zero Coalition.The third annual progress report, Progress Towards Shipping’s 2030 Breakthrough, warns that the next 12 months are critical to avoid shipping falling irreparably behind its climate goals.The IMO set a goal of ensuring that zero- or near-zero emission fuels make up 5% to 10% of all shipping fuels by 2030.

Mitsui O.S.K. Lines (MOL), through its wholly-owned subsidiary MOL Clean Energy US, has invested in HIF Global, a company developing and operating synthetic fuels (e-fuels) projects, including e-methanol which can be used as an alternative marine fuel for decarbonization of shipping industry.HIF has a production target of about 4 million tons per year of synthetic fuel (e-fuel) and synthetic methanol (e-methanol) from green hydrogen derived from renewable energy sources and recycled CO2 in four countries: the U.S.…

Shanghai halted transportation links, recalled ships and shut tourism spots including Shanghai Disney Resort on Sunday as it braced for Typhoon Bebinca, in what could be the strongest tropical cyclone to hit the Chinese financial hub since 1949.The Category 1 typhoon, packing maximum sustained wind speeds near its centre of around 144 kph (89 mph), was about 400 km southeast of Shanghai as of 5:00 p.m. (0900 GMT). It is expected to make landfall along China's eastern coast after midnight on Monday.The China Meteorological Administration issued typhoon red alert on Sunday afternoon…

Data from the International Chamber of Shipping’s Barometer Report 2023-2024 indicates that improved clarity from governmental bodies such as the IMO has had a positive impact on the industry.Following a formal agreement at the IMO’s MEPC 80 to reach net zero GHG emissions by or around 2050, confidence is on the up. Almost 50% of C-suite maritime stakeholders responding to the ICS Barometer in 2023-2024 indicated improved willingness to invest in low and zero-carbon solutions following IMO agreement…

The Australian government is seeking vessels to participate in Australia’s Strategic Fleet Pilot.The aim is to provide maritime capabilities that bolster resilience, providing assistance in times of crisis or natural disaster, and to support industries reliant on shipping, such as heavy manufacturing.Recent supply chain disruptions and geopolitical events have underlined the importance of a strong domestic maritime sector, says Transport Minister Catherine King.These disruptions…

Wendy Laursen’s article Getting the Numbers Right, published in the August issue of Maritime Reporter, sparked debate from ballast water management experts. Here Giles Candy of Giles Environmental LLC – Independent Ballast Water Consultant, provides his feedback on the article which outlines the challenges the industry has faced trying to reduce the occurrence of invasive marine species transferred by ballast water.Ballast water is a complex multi-faceted subject with few simple…

MOL PLUS intends to invest in deep tech through the “Global Fund 2” managed by UntroD Capital Asia.Deep tech is technology solutions based on substantial scientific or engineering challenges.Global Fund 2 aims to solve social issues by investing in deep tech startups, mainly in the seed stage through Series B. The investment area will focus on startups based in Southeast Asia, but will also cover startups outside the region with high growth potential in Southeast Asia.MOL PLUS will strengthen its investment and collaboration with startups in deep tech x shipping…

The crew of Greek-flagged oil tanker the Sounion that was attacked in the Red Sea abandoned the vessel and were taken to Djbouti by the EU's Red Sea naval mission "Aspides", an official in the mission told Reuters on Thursday.The tanker, with a listed capacity of 163,759 MT, was the third vessel operated by Athens-based Delta Tankers to be attacked in the Red Sea this month.The Iran-aligned Houthi militants have launched attacks on international shipping in the Red Sea region since November in solidarity with Palestinians in the war between Israel and Hamas in Gaza.Sounion…

“During the first seven months of this year, 194 product tankers larger than 10k deadweight tonnes (DWT) have been contracted with a combined capacity of 13.3m DWT. This is a 17% increase compared to last year and the highest level of contracting since 2006,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.Contracting during the first seven months of 2024 has reached the second highest level on record while the third highest was achieved last year. Combined, contracting…

India continued to be a net importer of steel during the first four months of the current fiscal year beginning April, with China as its biggest supplier of the alloy, according to provisional government data seen by Reuters.India imported 2.69 million metric tons of steel between April and July, and exported 1.57 million tons, the data showed.India, the world's second-biggest crude steel producer, became a net importer of the alloy in the fiscal year to March 31, 2024, and the trend has continued since then…

The Board of Directors of the International Chamber of Shipping (ICS) are deeply saddened by the death of Spyros M Polemis, who served as Chairman of ICS from 2006 to 2012.Polemis had a long history of leadership of the maritime industry, previously serving on the ICS Board for many years as the representative of the Union of Greek Shipowners. He was also President of the International Shipping Federation (ISF) before its merger with ICS, which he oversaw, in 2011.Polemis was a tireless advocate for shipping and the maintenance of global rules for a global industry…

Claus Winter Graugaard suddenly passed away on July 30 at age 51.Graugaard was widely recognized as a pivotal leader both at the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping and in the broader maritime industry. Since joining the Center's leadership team in January 2021, he played an integral role serving as Chief Technology Officer - Onboard Vessel Solutions.He was widely respected for his professionalism, dedication and relentless drive in advancing the maritime industry's transition to a sustainable future.

Trafigura Group has completed the acquisition of Gearbulk Holding 50% share in joint venture company High Heat Tankers (HHT) for an undisclosed sum.Aside from the acquisition, Trafigura has committed to a newbuild 17,500 dwt IMO II specialized high heat tanker to be delivered in the third quarter of 2026 from Chengxi Shipyard China to support the expansion of HHT’s services.HHT was established in 2018 between Gearbulk and Trafigura Group company Puma Energy Supply and Trading to provide access to the largest pool of modern IMO II high heat tankers in the world.Today…

Norden has entered into an agreement to acquire Norwegian dry bulk operator Norlat Shipping, which specializes in the shipment of forest products and other bulk commodities.The acquisition, whose value was not disclosed, is subject to merger clearance.The acquisition will be Norden's second, following the mid-2023 acquisition of the activities of Thorco Projects, which is today fully integrated into Norden's Freight Services & Trading business unit.Norlat Shipping’s main trading…

Ursula von der Leyen has been re-elected as President of the European Commission. Her political manifesto, presented shortly before the election, matches all the priorities of Danish Shipping for 2024-2029.Danish Shipping welcomes her continued prioritizing of the green transition, industrial policy, and competitiveness. Within 100 days, the Commission will present a Clean Industrial Deal aimed at accelerating emission reductions, faster rollout of green energy, and cheaper prices for green energy and fuels.In other words…

Maritime solutions provider Wallem Group and China’s COSCO Shipping Seafarer Management Company have entered into strategic cooperation to enhance their collaboration in maritime industry.The partnership underscores both companies’ commitment to innovation and sustainability in the maritime industry, aiming to set new benchmarks in ship management and crew services. “We are honored to partner with COSCO Shipping Seafarer Management Company to work together towards common goals on green…

The Panama Canal Authority announced on Monday it is raising to 49 feet the maximum authorized draft allowed for vessels transiting the key global waterway's Neopanamax locks.The previous maximum depth allowed for the Neopanamax locks was 48 feet.In a brief statement, the authority said the change was made due to "the present and projected level of Gatun Lake for the upcoming weeks."(Reuters - Reporting by Elida Moreno; Editing by Aida Perlaez-Fernandez)

The IMO has launched a new toolkit that will help the global maritime industry respond better to ever-evolving insider threats.Insider threat refers to the risk that arises from a maritime employee carrying out or enabling a security incident, either through a lack of awareness, complacency or maliciousness. For terrorists and organized crime groups who are constantly looking to exploit vulnerabilities in security controls of ports and ships, insiders can offer a tactical advantage…

Ardmore Shipping has announced a series of leadership changes and updates to its commercial organization following news of the upcoming retirement of Founder and CEO, Anthony Gurnee, and the appointment of Gernot Ruppelt and Bart Kelleher to CEO and President roles respectively.Effective September 16, 2024, Robert Gaina will join the Ardmore Senior Management Team (SMT) as Senior Vice President, Commercial, succeeding the current CCO, Gernot Ruppelt upon his advancement to CEO.

The renewal of the Panama merchant fleet is one of the quality objectives of the Panama Maritime Authority (PMA), which is why the entry of vessels under 15 years of age to the Panama Ship Registry is being prioritized.As a result, 57% of ships registered in 2024 have an average age of four years. These vessels come mainly from the Asian market, a region in which the Panamanian Registry has technical offices (Japan, Singapore, South Korea, China, Hong Kong and the Philippines).Among the strategies to improve the PMA indicators is also the recruitment of newly built vessels.

Fratelli Cosulich Group has introduced Cosulich Logistics to unify its services under one global identity in a strategic move expected to streamline its operations across eight brands and 19 companies in 14 countries spanning three continents.With over 170 years of expertise in the shipping and logistics industries, Fratelli Cosulich has announced a significant transformation in its operations.According to the Italy-based group, all of its brands will now be commercially identified…