Egypt's Suez Canal revenues hit an all-time high in 2021 of $6.3 billion, versus $5.6 billion in 2020, canal spokesperson George Safwat said on Sunday.Some 20,694 ships transited the canal in 2021, against 18,830 in 2020, a 10% increase, he added…
The Signal Group offers an exhaustive overview of the trends in the dry bulk and tanker markets that both defined 2021, and offer a glimpse as to what might be in store for 2022 and beyond. The report is excerpted in short below; to see the full report CLICK HERE…
When the global supply chain runs smoothly, it’s like a well-choreographed dance. Everything comes together elegantly and effortlessly. But when someone misses a step, the show can quickly turn into a disaster. And that’s what’s currently unfolding before our eyes…
Dalian and Singapore iron ore futures rebounded on Thursday after three days of losses, but worries over demand for the steelmaking ingredient in top steel producer China kept benchmark prices near their two-week lows hit the day before.The…
Demand for LNG-fuelled newbuilds is growing across the shipping industry, and with it Danish pump specialist Svanehøj reports it has quadrupled its sales of fuel pump solutions in 2021 and is heading for an all-time high order intake. 2021…
Odfjell is constructing a new tank bay at Odfjell Terminal Houston (OTH), continuing to expand and invest in its terminals platform to support ongoing regional growth in the chemical industry.The company is investing in and expanding its terminals platform with the addition of a new…
India's Adani Group is preparing to ship the first coal cargo from Australia's most controversial mine, after battling a seven-year campaign by climate activists and defying a global push away from fossil fuels.The Carmichael mine in outback…
Ocean freight costs are likely to remain high in 2022 as investors and regulators scramble to accelerate decarbonization of the shipping industry and companies grapple with green financing, sources say.Shipping, which transports about 90% of…
The first vessel has sailed from the Mississippi River with a draft of 47.7 feet following the newly increased draft at 48 feet.The M/V CSSC Le Havre, operated by Cargill International with a cargo from Alliance Coal, LLC, is destined for the Far East and loaded over 112…
Dutch dredging, marine and offshore services company Van Oord said it has signed partnership agreements with LexX and Heliorec, two start-ups scouted through the innovation platform PortXL. The signing ceremony took place during the shakedown…
NYK signed a multi-year time-charter contract with GAIL (India) Limited, India's largest natural gas company, for a liquefied natural gas (LNG) carrier. Grace Emilia, the vessel that will be chartered, is equipped with a WinGD-made dual-fuel slow-speed X-DF diesel engine…
Mitsubishi Shipbuilding Co., Ltd., a part of Mitsubishi Heavy Industries (MHI) Group, has taken its first order for LNG (Liquefied Natural Gas) fuel supply systems (FGSS) for high-pressure dual-fuel marine engines, for installation on six LNG…
Mitsui O.S.K. Lines, Ltd. announced that its Propeller Boss Cap Fins (PBCF), sold by its group company MOL Techno-Trade, Ltd. was certified as the “Best-selling Energy-Saving Ship Appendage Brand (Cumulative)”, by Guinness World Records, and received the official certificate on December 23…
A new innovative device has been engineered to improve docking safety.Designed to be installed on quay walls, the Dynamic Protective Barrier features a novel mechanism to dissipate energy for short duration impact caused by docking vessels.Matthew Czerniatewicz…
More than $241 million in discretionary grant funding has been awarded for projects to improve U.S. port facilities, U.S. Department of Transportation Secretary Pete Buttigieg announced on Thursday.The grants, which will go to 25 projects in…
