Since the European Union sanctioned Russian oil exports in 2022, crude oil and dirty and clean petroleum products (CPP) have found new buyers. “India and China have taken most of the crude oil and dirty products while Turkey and Brazil have emerged as the main buyers of CPP…
The Captain of the Port (COTP) has established the Fort Carroll Temporary Alternate Channel, which is on the northeast side of the main channel in the vicinity of the Francis Scott Key Bridge and will provide limited access for commercially essential vessels…
Shipyard order books show that more and more ships are being built that can run on methanol or liquified natural gas (LNG). Major shipping companies are investing in green fuels for their fleets, and researchers around the world are working…
Singapore and Australia have signed a Memorandum of Understanding (MoU) to formally collaborate on establishing the Singapore-Australia green and digital shipping corridor.The MoU was signed by Chee Hong Tat, Singapore’s Minister for Transport and Second Minister for Finance…
The Singapore government has recounted the achievements of Maritime Singapore to date to highlight the nation’s successes as a maritime hub in 2023:Total business spending by key maritime companies overseen by MPA exceeded S$4.8 billion, up from S$4…
Finnish technology group Wärtsilä has entered into a collaboration agreement with U.S.-based naval architecture and marine engineering firm Elliott Bay Design Group (EBDG) to further develop its Clean Harbor Alternative Mobile Power (CHAMP) Barge design…
A global alternative investment firm Strategic Value Partners has entered into agreement with Hornblower Group to acquire the majority ownership of the company in exchange for significant equity investment. As part of the agreement, Crestview Partners retained minority ownership in the business…
Swedish ferry operator, Stena Line has officially commenced its new Dublin – Liverpool (Birkenhead) freight service. The addition of the new route is expected to further boost the company’s freight volumes following a record year on its Irish Sea services in 2023…
The US Federal Maritime Commission (FMC) held an informal public hearing examining impacts from attacks on merchant shipping in the Red Sea and Gulf of Aden on February 7.Opening the hearing, Commissioner Carl Bentzel, voiced concern about safe access through both the Suez and Panama Canals…
With its new CCS-strategy, the European Commission has outlined a common direction for the capture, utilization, and storage of CO2 in the EU. The strategy highlights Denmark as a pioneer in the field, and Danish Shipping predicts that Denmark could play a central role…
Effective February 14, 2024, ESL’s flagship GALEX service will provide direct connections between key Chinese ports and the newest addition – the dynamic Saudi Arabian maritime hub of Dammam. In addition, the modified port rotation reduces transit time between key ports in China and Jebel Ali…
2024 marks a milestone in the acceleration of digitalization in shipping that has been brought about by the mandatory requirements for a Maritime Single Window.The requirement under the Convention on Facilitation of International Maritime Traffic…
Shipping industry majors Hapag-Lloyd and Maersk have signed an agreement for a new long-term operational collaboration called ‘Gemini Cooperation’, which will start in February 2025.The ambition is to deliver a flexible and interconnected ocean network with industry-leading reliability…
Chee Hong Tat, Singapore’s Acting Minister for Transport, announced a record year in 2023 at a Singapore Maritime Foundation New Year Conversations event.The annual vessel arrival tonnage in the Port of Singapore crossed three billion gross tonnage (GT) for the first time…