Dutch offshore solutions provider SBM Offshore has signed an agreement with Nippon Yusen Kabushiki Kaisha (NYK) to sell a 45% ownership interest in the special purpose companies responsible for the lease and operation of the FSO Chalchi.  Following completion of the transaction,...

Greek shipowner Aegean Shipping Management has taken a significant step in its growth strategy by entering the Very Large Crude Carrier (VLCC) market for the first time, placing an order for four new tankers at China’s Hengli Heavy Industries.  The order, announced during Posidonia in Athens, includes two LR2/Aframax tankers...

In a landmark strategic shift, Global Ship Lease has entered the newbuilding market for the first time in its history, committing approximately $917 million to the construction of 10 new containerships as it prepares to modernise its fleet for the next generation of container shipping trades.  The Athens-based company announced that it has signed individual contracts for...

A major step has been taken in the exploration of nuclear propulsion for commercial vessels, as American Bureau of Shipping (ABS) has granted approval in principle (AIP) for a next-generation reactor design intended for integration into cargo ship propulsion systems.  The concept has been developed through a...

Maritime digitalisation is accelerating, and with it, the exposure of vessels to increasingly complex cyber threats. In response, maritime technology provider Navarino has introduced a new fully managed cybersecurity platform designed specifically for the shipping environment.  Developed in collaboration with Palo Alto Networks, the solution — named Ozora — aims to reinforce onboard and shore-based cyber defence capabilities as regulatory pressure and threat sophistication continue to rise across the industry. ...

There is a certain feeling that lingered over this year’s Posidonia — a mix of celebration, excess and confidence that, for some, felt uncomfortably familiar.  Described by many as “extravagant, excess, excellent,” the atmosphere in Athens was undeniably electric. But for those who attended the 2008 edition, held just months before the global financial crisis, the comparisons were hard to ignore. ...

Container shipping markets are experiencing one of their sharpest upswings in recent years, as an unusually early peak season collides with ongoing geopolitical disruption, aggressive pricing strategies from carriers and a tightening balance between supply and demand.  The latest data confirms the momentum is accelerating across all major global benchmarks.    Freight indices hit multi-year highs  The Shanghai Containerized Freight Index (SCFI) surged by 155 points to reach 2,726.48, its highest level in several years, marking the fifth consecutive week of increases. ...

Artificial intelligence dominated discussions at this week’s Posidonia, where the maritime industry found itself split between excitement, scepticism and cautious pragmatism over...

The latest U.S. Bureau of Labor Statistics (BLS) employment data reveals a mixed and somewhat unstable picture for the freight and logistics labor market,...

A major shift could be on the horizon for U.S. employers as the U.S. Equal Employment Opportunity Commission (EEOC) moves...