A wave of new investment in dedicated shuttle tankers has been spurred by the age profile of the existing fleet coupled with surging developments in the Brazilian offshore market.Constituting a specialized asset class, dynamic positioning (DP) shuttle tankers are a flexible and cost effective way of lifting and transporting oil from offshore fields, where subsea pipelines are not a practical or economically viable option…
DP World reported revenue of $12.7 billion for the first half of 2026, up 13.1% year-on-year, as its global network helped the company navigate significant disruption to trade flows in the Middle East.Growth across Logistics, Marine Services…
Hapag-Lloyd reported a recovery in second-quarter 2026 earnings as stronger container volumes and spot rates helped counter roughly $600 million in additional costs stemming from the Middle East conflict.The German container shipping group posted Q2 EBITDA of $829 million…
Danish shipping group Maersk on Thursday raised its full-year earnings guidance for a second time this year and smashed profit forecasts as global container demand proved resilient in the face of the Middle East conflict.Surging freight rates…
Just how much crude oil is leaving the Strait of Hormuz?U.S. Energy Secretary Chris Wright claims almost nine million barrels per day, but the companies that track vessel movements say at best it is about half this volume.The amount of crude leaving the Middle East via the narrow chokepoint matters…
Air quality screenings recorded at the port of Ilulissat in Greenland show high air pollution levels with an average around 60-70 times higher than safe low particle levels recommended by the World Health Organization (WHO) of 1,000 particles/cm3…
Port Everglades celebrated the arrival of the largest cargo ship to ever visit the port today, with the arrival of the MSC Vandya. However, the water depth restrictions mean that the MSC Vandya was lightly loaded.The MSC Vandya is 143,521 gross tons…
The UK P&I Club has announced the appointment of Ms. Jeong-Sook Kim as Senior Underwriting Director, with initial responsibility for the Korean market. Based in the Club's London office, she will work closely with William Beveridge, Chief Underwriting Officer…
ABB will supply the integrated power and propulsion system for Grand Tour, a new 230-meter semi-submersible heavy transport vessel being built by Guangzhou Shipyard International (GSI) for offshore contractor Allseas.Scheduled for delivery in 2028…
Descartes Systems Group has released its August Global Shipping with figures indicting that July 2026 U.S. container import volumes increased 4.5% over June to 2,508,310 TEUs, reflecting typical month-over-month seasonal growth.July U.S. containerized…
The UK P&I Club has announced the appointment of Ms. Jeong-Sook Kim as Senior Underwriting Director, with initial responsibility for the Korean market. Based in the Clubs London office, Ms. Kim will work closely with William Beveridge, Chief Underwriting Officer…
Ocean Network Express (ONE) reported a profitable first quarter for fiscal 2026, overcoming higher fuel costs and geopolitical disruptions through strong cargo demand, disciplined capacity management and rising freight rates, while continuing…
Oil shipments from Russia's western ports are set to increase 4% in August from July as drone attacks on domestic refineries make more crude available for exports, while strong demand in Asia encourages sellers to load more, two traders said…
Russia's main grain lobby group warned on Friday that Ukrainian drone attacks on Russian ships and ports could shut down grain exports via the Black Sea in the near future, pushing up prices and causing hunger in Africa and the Middle East.Russia…
SeaPort Manatee announced the addition of Rodney Trammell, P.E., as senior engineer.Trammell, a licensed professional engineer, brings a dozen years of industry experience to his new position at the trade hub of Southwest and Central Florida…
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