Category Archives: Marine News EN

FLEET SHRINKS, VOSCO PLANS TO BUILD NEW SHIPS Vietnam’s “big brother” in maritime transport, Vosco, plans to invest in building new oil tankers and bulk carriers after years of being unable to acquire new vessels. According to its latest report, Vosco has proposed purchasing two Supramax bulk carriers and constructing three new MR product tankers […]

TANKER SHIPPING COMPANIES “THRIVE” By the end of Q3 2024, many tanker shipping companies reported positive business results. Pacific Petroleum Transportation Joint Stock Company (PVTrans Pacific) recorded a 36% decline in revenue year-on-year, reaching over VND 359 billion, but after-tax profit rose by 23.2% to VND 68.9 billion. For the first nine months of 2024, […]

CONTAINER LINES GET SURPRISE BOOST IN SPOT RATE BLIP Spot freight rates on the Asia to Europe trades showed a minor increase as European shippers enter into contract negotiations with the carriers.   As spot rates move upwards analysts are encouraging shippers not to be “spooked” by November general rate increases (GRIs). Drewry Shipping Consultant’s […]

BALLAST WATER RECORD-KEEPING AND REPORTING REQUIREMENTS – UPCOMING CHANGES Starting in 2025, two IMO resolutions come into effect specifying a new format for the ballast water record book (BWRB) and mandating approval of electronic BWRBs when replacing hard copy versions on board vessels. More about these new requirements for ballast water record-keeping and reporting in […]

BINH DINH PROPOSES PLANNING PHU MY PORT TO ACCOMMODATE SHIPS UP TO 150,000 TONS The People’s Committee of Binh Dinh Province has proposed that the Ministry of Transport (MOT) adjust the planning for the Phu My port area. According to the plan approved by the Prime Minister, Binh Dinh Port is classified as a Type […]

ADNOC L&S SIGNS $4.4 BILLION DEAL TO BUILD 23 SUPERTANKERS FOR AMMONIA, ETHANE, & LNG ADNOC Logistics & Services (L&S) has signed contracts worth $4.4 billion to build 23 new supertankers capable of transporting low-carbon fuels like ethane, ammonia, and liquefied natural gas (LNG). According to the UAE’s state news agency, the deal will strengthen […]

Should Bunker Firms be Wary Over Use of WhatsApp in Deals? The bunker industry is starting to divide in its attitudes over the use of the WhatsApp messaging service to conclude its deals. WhatsApp has been available since 2009, providing a free, cross-platform messaging service to anyone with a valid phone number and access to […]

WHY A TRUMP WIN COULD BE GOOD NEWS FOR ASIA AND SHIPPING Chat about geopolitics and trade podcast presenter Punit Oza explores why a second term as President for Donald Trump is bad news for the UK and Europe but good news for Asia and shipping. “A real businessman or entrepreneur has no enemies. Once […]

ASYAPORT BECOMES FIRST TURKISH PORT TO OFFER SHORE POWER TO BOXSHIPS Asyaport is the first port in Türkiye to offer shore power to container vessels, which is an important milestone for decarbonizing maritime logistics in the country. Türkiye’s largest container terminal Asyaport is advancing its commitment to decarbonizing supply chains with its latest installation of […]

CMA CGM BUYS INTO MUCH-ANTICIPATED MOROCCAN TRANSSHIPMENT PORT French carrier CMA CGM has taken a stake in Morocco’s new Nador West Med container port, a coveted greenfield development which will add millions of TEU of much-needed transshipment capacity for the European and Mediterranean market. For ocean carriers, the Red Sea crisis has effectively turned the […]