Hapag-Lloyd has revised its earnings forecast for 2024, following the lead of its upcoming Gemini Cooperation partner, Maersk. The German shipping line attributes this upward adjustment to stronger-than-expected demand and improved freight rates. In its preliminary figures for the first nine months of 2024, Hapag-Lloyd reported an EBITDA of approximately USD 3.6 billion (EUR 3.3 […]
Grain de Sail, a French sail cargo company and chocolatier, has unveiled its most ambitious project yet: the Grain de Sail III, a significantly larger sail cargo ship designed to enhance its operations. With a capacity of 200 TEU (approximately 2,800 metric tons), this new vessel aims to scale up the company’s sustainable maritime transport […]
Revolutionizing Warehouse Leasing in the UAE Dubai Customs is excited to announce the launch of an innovative digital platform, likened to the ‘Airbnb of warehouses.’ Unveiled at Gitex Global 2024, this platform is designed to streamline the registration and leasing process for various warehouse types, from dry storage to climate-controlled facilities, all through a centralized […]
Ukraine has formally requested the International Maritime Organization (IMO) to deploy a monitoring mission to its southern Odesa region ports, as Foreign Minister Andrii Sybiha reported on Wednesday. This request comes in response to a surge in Russian missile strikes targeting Ukraine’s port infrastructure, which have resulted in damage to four foreign-flagged civilian vessels since […]
The maritime industry stands on the brink of a technological revolution. As one of the oldest forms of global transportation, shipping has historically lagged in adopting new technologies. However, the rise of artificial intelligence (AI), advanced analytics, and enhanced connectivity is ushering in a transformative era that promises to redefine maritime operations. The Imperative for […]
DP World has announced the acquisition of 47,000 TEUs (Twenty-foot Equivalent Units) that are now registered and branded under the company. This strategic move significantly enhances DP World’s cargo capacity, allowing for a more agile response to customer needs. The addition of these containers ensures seamless access to vital container capacity, empowering customers to maintain […]
Iran appears to have halted or heavily cut back crude oil exports from its Single Buoy Mooring (SBM) off the Kooh Mobarak oil storage facility. The Kooh Mobarak SBM, 30 nautical miles west of Bandar-e Jask, is Iran’s only point of export outside the Gulf, and does not require passage through the Straits of Hormuz. It was designed […]
A.P. Moller – Maersk celebrated the naming of its latest dual-fuel methanol container vessel, Alexandra Maersk, today at the Port of Felixstowe, England. This 16,000 TEU vessel is the fifth in a series of innovative ships, reinforcing the company’s commitment to sustainable shipping. Mike Kane, the UK’s Maritime Minister, highlighted the significance of this vessel […]
SEA-LNG, an industry coalition, is emphasizing the rapid growth of LNG-fueled vessels within the global fleet and the ongoing investments from major shipping companies in this emerging sector. Established eight years ago, SEA-LNG advocates for LNG as a viable marine fuel option, highlighting significant advancements in addressing environmental concerns related to methane emissions. According to […]
Hurricane Milton is rapidly intensifying as it moves across the Gulf of Mexico, now classified as a high-Category 5 storm, with sustained winds reaching 155 knots and a dangerously low central pressure of 897 mb. According to the National Hurricane Center (NHC), conditions could allow for further intensification overnight due to the warm waters of […]
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