CMA CGM Sees Profits Ebbing as Shipping Boom Fades
CMA CGM said it expects a pullback in shipping markets to accelerate in the fourth quarter due to high energy prices and flagging consumer spending, and this will reduce its profitability following an earnings surge in the past year.French-based CMA CGM…

Ship Recycling: Duties Reduced, Prices Down
After the announcement by the Indian government that they would reduce export duties on iron ore and steel products, the Alang market surged by Rs. 4,000 (about USD 49) in a single day, only to come crashing down in subsequent days to the tune…

LNG Backlog at Spanish Ports Has Eased
Spanish gas grid operator Enagas said on Friday a backlog at its terminals that had forced it to warn it could reject deliveries of liquefied natural gas (LNG) had eased.On October 17, Enagas had issued a special situation notice due to unexpectedly full LNG tanks at its Spanish ports as mild weathe

Rotterdam Port to House Battolyser Plant for Green Hydrogen Production
The Port of Rotterdam on Monday said it will help develop a 14,000 square metre factory for Battolyser Systems, a company that designs combined battery and green hydrogen production machines.Financial terms were not disclosed.The port, which…

Stena Line Expands Its Ireland-France Ferry Service
Stena Line announced it is increasing capacity Ireland-France route with the addition of an extra vessel starting in June 2023.“Ahead of what is expected to be a busy summer in 2023, we will be doubling our sailing frequency and tripling our…

DOF Charters Havila Phoenix CSV. Wins Contracts in Atlantic Region
Offshore vessel operator DOF Group is pleased to announce multiple new contracts in the Atlantic region and the long-term charter of the construction support vessel Havila Phoenix.In the Atlantic region, DOF said it had secured an Integrated…

Video: Overboard Cruise Passenger Recovered in the Gulf of Mexico
A passenger who fell overboard from a cruise ship in the Gulf of Mexico was rescued Thursday after a day of treading water, the U.S. Coast Guard said.Watchstanders at Coast Guard Sector New Orleans received a call from the Carnival Valor at approximately 2:30 p.m.

Russia Oil Turmoil Seen Driving Tanker Market Higher
Tough new sanctions on Russian oil shipments taking effect from December are likely to boost already high tanker rates as buyers race to replace cargoes and are forced to use longer routes, a leading ship manager said.In the latest action against…

ClassNK Grants AIP for Ammonia-fueled 200,000 DWT Bulk Carrier
Classification society ClassNK has issued an approval in principle (AIP) for an ammonia fueled 200,000 DWT type bulk carrier jointly developed by ITOCHU Corporation, Nihon Shipyard Co., Ltd., Mitsui E&S Machinery Co., Ltd., Kawasaki Kisen Kaisha, Ltd.

Zero-C Offshore: A New UK Firm Aiming to Address ‘Chronic’ FIV Shortage
The global offshore wind industry is staring down a potential shortage of foundation installation vessel capacity. A new UK company led by former offshore drilling executive Jon Oliver Bryce intends to help tackle this challenge as the industry’s…