Hapag-Lloyd has informed its customers that the existing EU ETS surcharges are expected to “roughly double” starting January 1st, as the scope of the EU Emissions Trading System (EU ETS) expands. The company explained that this increase will be driven by the higher emissions costs resulting from the EU ETS’ expansion, as well as the […]
DP World buys Australia’s Silk Logistics Dubai-based ports and logistics player DP World has reached an agreement to acquire Australian port-to-door logistics services provider Silk Logistics. The transaction, subject to shareholder approval of Silk Logistics and standard closing conditions, values the company at about A$174.5m ($115.6m) or A$2.14 per share. Silk Logistics operates 21 logistics […]
ABS has released a pivotal report on the integration of advanced nuclear reactor technology for commercial ship propulsion, particularly targeting LNG carriers. Supported by a contract from the U.S. Department of Energy, the study investigates the feasibility of high-temperature gas-cooled reactor (HTGR) technology and its potential to transform maritime operations. Key Insights from the Study: […]
French startup VELA, launched in November 2022, has successfully raised €40 million ($43 million) in a significant funding round. The capital will enable VELA to construct the world’s largest sailing cargo trimaran, aimed at providing a sustainable transatlantic cargo service for a variety of products, including pharmaceuticals, industrial parts, healthcare equipment, and cosmetics. This financing […]
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 […]
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 […]
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 […]
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 […]
Carriers are ramping up preparations for a potential strike at U.S. East Coast and Gulf Coast ports, with the situation between the International Longshoremen’s Association and the U.S. Maritime Alliance showing no signs of resolution. In response, shipping companies are introducing surcharges to mitigate anticipated disruptions while maintaining expectations of strong demand during the peak […]
Australian authorities have arrested three men linked to a scheme to import $270 million worth of liquid methamphetamine, marking the latest significant drug-smuggling operation in a country known for its high methamphetamine demand. The operation came to light after Canada’s Border Services Agency (CBSA) intercepted a container in Vancouver, initially believed to be filled with […]
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