India’s Adani Group has unveiled its plans to increase cargo capacity at the country’s Mundra port, according to the Hindu Business Line. Through its port operator, Adani Ports and Special Economic Zone Limited (APSEZ), the company would reportedly invest up to INR 57.59 billion (USD 832 million) to expand the operations at the port. Having handled a combined cargo of more than 200 mt in the year to March 2019, APSEZ has applied for environment and coastal regulation zone (CR

Germany’s Deutsche Bank has agreed the sale of a USD 1 billion portfolio of legacy shipping loans to an entity owned by funds managed by Oak Hill Advisors and Värde Partners. The bank said that the transaction is expected to close in early Q3 2018, subject to relevant regulatory approvals. Deutsche Bank informed that it remains committed to the shipping business. “Following this disposal and other derisking strategies we have implemented, the bank will be left with a performi

– Head-haul routes could see box rates increase between 8% and 30% on February 1 – Pre Chinese New Year focused on maximizing cargo allocation – Post Chinese New Year maintain box rates through void sailings Carriers are optimistic that the head-haul routes may see box rate increases on February 1. There are significant variances in these and the container industry believes it could fall on the conservative side as the focus remains on maximizing cargo allocations before Chin

The introduction of autonomous ships, often described as the next step for the maritime industry, is looming as projects have already been launched to make the smart ship concept a reality. One of the examples is the construction of the world’s first electric and autonomous containership, Yara Birkeland, which is expected to start autonomous operation in 2019. Numerous benefits of autonomous ships have been identified including lower costs, more efficient use of space in ship

Imports set a second all-time monthly record high this summer as retailers brought in merchandise for the busy holiday season, and are continuing at unusually high levels this month, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates. “When imports break records two months in a row, it’s hard to see that as anything other than a good sign about what retailers expect in consumer demand,” NRF Vice Presiden

Oil prices may rise to $60 a barrel by the end of this year or by early 2018 as OPEC and non-OPEC producers are expected to extend supply cuts beyond March, while oil inventories continue to decline, a former Saudi energy ministry official said in a speech Washington. “With the current arrangement and commitment of major producers, and their willingness to adjust and extend the agreement, I believe as commercial oil stocks continue to contract, oil prices will gradually incre

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One of the key issues ship owners and operators are facing is ensuring the efficient use of energy while at the same time meeting new environmental regulations being implemented on a global and regional basis. Getting an insight into energy optimisation and alternative energy sources is central to both cost and environmental control. Visitors to the maritime exhibition Europort will be able to take part in some unique events at which cutting edge technology solutions will be

This odd-looking 12-story structure that floated down the Hudson River is an 8 million-pound heat recovery steam generator heading towards its final destination, PSEG’s new 7HA.02 power plant in Sewaren, New Jersey. via HSN #HudsonRiver #steamgenerator #PSEG #Sewaren #SewarenNewJersey #shipping #freight #cargo #ARIShippingCorporation

The biggest promotional UK shipping event in recent history will be kicked-off by Shipping Minister John Hayes next week. The world famous London International Shipping Week (LISW) will be attended by delegates from at least 50 countries including more than 15 foreign ministers from the likes of Saudi Arabia, Nigeria and Ghana. The government will host bilateral meetings with politicians and senior industry figures to explore partnerships, future opportunities outside the Eur

Seamen must be the first group of people who had an extensive knowledge of the weather. They recognised cloud formations and variations in wind speed that indicated the weather change. At sea, this knowledge could mean the difference between life and death. Today, a weather forecast is not made with a keen eye but with all kind of technologies like satellites and weather sensors. Nowadays, forecasts still save lives at sea, but also a lot of fuel. That is good news for the en

Palm oil demand is seen rising on a widening price differential with its rival oilseed soy, spurred by dry weather in the United States, prompting buyers to switch to the cheaper tropical oil, as key purchasing market China replenishes its palm oil port stocks, which have slid to seven-month lows. Benchmark palm oil prices are expected to decline in the second half of the year as production sees seasonal gains. Palm has shed about 17 percent of its value so far this year, and

Danish container shipping major Maersk Line said that it doesn’t expect any impact of Rickmers Holding’s filing for insolvency on its operations. To remind, Rickmers had to file for insolvency after HSH Nordbank AG denied approval to the term sheet dated April 19, 2017 and rejected further negotiations of the restructuring. Out of Maersk’s total operated fleet consisting of 639 vessels, six are charter vessels formerly owned by Rickmers. In addition, a further 12 vessels are

A few years back it was Somalia which took the maritime world by force, awakening ship owners to a new reality of maritime dangers. Today, when most people seem to think that these are now perils of the past, the realities of maritime shipping are much more dangerous and complex, just not so much in the spotlight any more, as high profile attacks are now scarcer. In an exclusive interview with Hellenic Shipping News Worldwide (www.hellenicshippingnews.com), Mr. Alexandros The

The world’s second-largest petrochemical port in Houston may command 75% of all US polyethylene exports, but expected growth in international shipments as a slew of new ethane crackers and associated derivative units start coming online this year has US ports a thousand miles or more away gearing up to nab a piece of the action. Last month Georgia’s Port of Savannah increased its ship-to-shore crane total to 26 — one more than the 25 at the Port of Houston’s Bayport and Barbo

European Union voters in France, Germany, Italy and Greece think their countries are heading in the wrong direction but there is not yet any Europe-wide inclination to follow Britain towards exiting the bloc, according to a poll published on Thursday. Britain’s shock June 23 Brexit vote, which was praised at the time by then U.S. presidential candidate Donald Trump as a “miracle”, has raised questions about the future of post-World War Two attempts at European integration. Af

The United States and Canada are moving closer to phase out the use of heavy fuel oil (HFO) from vessels operating in the Arctic waters through a strategy to rid the region of the dirtiest marine fuel, according to the Clean Arctic Alliance. Namely, the countries are launching the first processes ever to identify sustainable shipping lanes throughout their connected Arctic waters, in collaboration with Northern and Indigenous partners. The US and Canada have also agreed to pr

Mexican authorities have seized some 278 kilograms of cocaine from a container carried by the 63,200 dwt containership Laura Maersk. According to the information provided by the Mexican government, the vessel, operated by Danish shipping giant Maersk, brought the container to the port of Manzanillo, where the illicit content was discovered. A total of 295 packages were hidden inside a cargo of magnetic rollers. The container with the cocaine was reportedly loaded onto the 200

Maersk Line, Mediterranean Shipping Company (MSC) and Hyundai Merchant Marine (HMM) have reached an agreement to enter into a new strategic cooperation. The cooperation is a combination of slot exchanges and slot purchases between the three parties, as well as Maersk Line and MSC taking over a number of charters and operations of vessels currently chartered to HMM. Although the cooperation is outside the scope of MSC and Maersk Line’s 2M vessel sharing agreement, it “will pro

Dynamic and bustling: Shanghai is the world’s busiest container port and China’s economic powerhouse. Moving through Shanghai during rush hour requires steady nerves. Millions of people on their way to work throng into the urban canyons of the economic metropolis at the same time on buses, in cars and on motorbikes. The streets are jammed, noise levels are high and the air is heavy. “Commuters on the underground trains are lucky if they find a place to stand – although you ca