In the first nine months of 2024, the Black Sea container terminals of Bulgaria, Romania, and Ukraine collectively handled 979,000 TEU (Twenty-Foot Equivalent Units), marking a significant 14% increase compared to the same period in 2023. This growth highlights the recovery of containerized trade, particularly in Ukraine, following the restoration of key maritime links to […]
BYD has unveiled the world’s largest RoRo (Roll-on/Roll-off) vehicle carrier, the BYD Shenzhen, which is capable of transporting up to 9,200 cars. This state-of-the-art vessel, named after BYD’s hometown, undocked from Yangzhou Port, located about three hours northwest of Shanghai. The ship measures 219 meters in length, 37.7 meters in width, and has a draft […]
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: […]
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 […]
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 […]
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