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News
Karachi Port deepening opens East Wharf to larger ships
5+ hour, 34+ min ago (132+ words) Karachi Port has completed dredging works that deepen its navigation channel and East Wharf berths, allowing Noatum Ports Karachi Terminals to handle larger container and bulk vessels. The navigation channel has been deepened to 14 metres, while berth depths at East…...
CMA CGM weighs port diversions as Buenaventura disruption persists
1+ day, 6+ hour ago (171+ words) Operations at Colombia’s Buenaventura remain heavily constrained following the August 10 earthquake, with CMA CGM evaluating alternative routings as congestion and landside disruption continue to hamper the Pacific gateway. The French carrier said terminal operations have only partially resumed, with vessel…...
Macquarie-led consortium completes Qube takeover
1+ day, 22+ hour ago (127+ words) A Macquarie Asset Management-led consortium has completed its A$11.7bn ($7.6bn) acquisition of Australian ports and logistics group Qube. The transaction was completed through a scheme of arrangement, with Macquarie-managed funds joined by investors including Australian superannuation fund UniSuper and Pontegadea, the…...
Rhenus adds shipzero to low-carbon freight push
1+ day, 21+ hour ago (299+ words) German logistics group Rhenus has teamed up with Hamburg-based shipzero to roll out a Book & Claim service across its air, ocean and road freight operations. The partnership will allow Rhenus customers to purchase the emissions benefits generated by alternative fuels…...
AD Ports UAE container volumes plunge 65% amid Hormuz disruption
1+ day, 22+ hour ago (192+ words) AD Ports Group saw container throughput across its UAE terminals plunge 65% year on year during the second quarter as disruption around the Strait of Hormuz hit vessel traffic and cargo flows. The Abu Dhabi-based group handled 573,000 teu at its UAE…...
Four-year-old cape fetches $78m
2+ day, 3+ hour ago (188+ words) Japanese owners continue to cash in as buyer appetite for quality Japanese-built tonnage pushes values higher. This week sources have revealed an exceptionally rare sale by Doun Kisen, one of Japan’s largest private tonnage providers. The Okochi family-controlled firm is…...
Minsheng steps up tanker push with $500m VLCC order
2+ day, 3+ hour ago (227+ words) Minsheng Financial Leasing has lined up four VLCC newbuildings in China in a deal worth around $500m, extending a rapid run of charter-backed shipping investments by the Chinese lessor. Shipbuilding sources have linked Minsheng to four 319,000 dwt vessels at Jiangsu New…...
Franbo adds Japanese newbuild to growing MPP programme
2+ day, 2+ hour ago (159+ words) Taiwan’s Franbo Lines is taking its fast-growing multipurpose newbuilding programme back to Japan, approving a $29m vessel that lifts its MPP expansion slate to 12 ships. The Taipei-listed owner has cleared a 16,500 dwt Singapore-flagged newbuild at an unidentified Japanese yard through newly…...
Splash Wrap: The detour economy
2+ day, 3+ hour ago (458+ words) Shipping has always made money from distance. Increasingly, it is also having to make peace with detours. The defining theme of the week was an industry being forced to find another way around war, drought and infrastructure that can no…...
Seven die in toxic gas leak at Bangladesh shipbreaking yard
2+ day, 3+ hour ago (232+ words) Seven workers have been reported dead after a toxic gas leak at a ship recycling yard in Bangladesh. The accident occurred on Friday morning at Ferdous Steel Ship Recycling Industries in Bhatiyari, Sitakunda, a facility authorised under the IMO’s Hong…...