Stay informed with real-time maritime industry updates
Splash247
New York-based tanker broker McQuilling has acquired Madrid's Medco Shipbrokers, marking a significant step in the ongoing consolidation within the shipbroking industry, as reported by Splash247. This acquisition aims to enhance market presence and expand service capabilities globally.
Seatrade Maritime
Hengli Heavy Industry has received an order for three more Very Large Crude Carriers (VLCCs), bringing their total VLCC newbuildings to 38, as reported by Seatrade Maritime. This development highlights the Chinese shipbuilder's growing influence in the VLCC market.
Splash247
CMA CGM is launching the Ocean Rise Express (OCR), a new weekly direct service connecting Japan and South China to North Europe, as reported by Splash247. This service aims to provide the best transit times and improved schedule reliability on a key East-West route.
Splash247
Michael Behrendt, the long-serving chairman of Hapag-Lloyd's supervisory board, is stepping back for health reasons, as reported by Splash247. Behrendt, who previously served as CEO for 12 years, will transition to an ordinary board member role at the Hamburg-based company.
Seatrade Maritime
Seatrade Maritime reports that ship crews are facing grueling work schedules, often exceeding 70 hours per week without days off, as the Maritime Labour Convention marks its 20th anniversary. This situation exacerbates the ongoing seafarer shortage, impacting global trade.
gCaptain
Sinokor's strategic move in the oil tanker market has significantly impacted U.S. Gulf rates, reaching levels not seen since the pandemic, as reported by gCaptain. The shipowner's control over a majority of supertankers capable of transporting American oil next month underscores its influence.
gCaptain
Panamanian authorities conducted a search at a ports unit of Hong Kong's CK Hutchison in Panama, as reported by gCaptain. This action is part of an escalating dispute over control of two strategic ports in the region.
Splash247
Eman Abdalla of SeaThrew Marine emphasizes the need for discipline, flexibility, and risk management in the shipping industry, as reported by Splash247. Traditional reliance on market recoveries is insufficient amid structural volatility and changing trade routes.
Seatrade Maritime
Knutsen LNG has decided to expand the trial of Syroco Live routing software to its entire fleet, emphasizing the software's ease-of-use as a key factor, as reported by Seatrade Maritime. The decision reflects a crew-first approach to technology deployment.
Splash247
Singapore-based OceanSTAR Elite has secured a long-term contract with Petronas Carigali for the lease, operation, and maintenance of an FPSO unit, according to Splash247. The contract, won through OceanSTAR Engineering Holding, includes a 15-year firm charter period with extension options, supporting the Sepat Integrated Redevelopment Project.
