Topic
maritime
Logistics Viking Supply Ships installs Kistefos duo as CEO and group CEO
Viking Supply Ships will install Ulrik Mannhart as chief executive and Bengt Rem as group CEO on August 1, following the resignation of Trond Myklebust. Both new leaders come from controlling shareholder Kistefos, which holds 80.1% of shares and 85.3% of voting rights, according to Splash247.
Logistics East Asia faces $890bn maritime investment bill to 2040, World Bank warns
The World Bank estimates East Asia and the Pacific needs about $890bn through 2040 to modernize ports, replace aging fleets and build alternative-fuel supply chains. Ports need $12bn annually, container capacity may nearly double, and China accounts for 65% of port spending. The report warns that regulatory uncertainty has led to sectoral paralysis.
Logistics Wagenborg exits roro sector with Wallenius SOL sale of ice-class duo
Royal Wagenborg is leaving the pure roro sector, selling ice-class sister vessels Bothniaborg and Balticborg to Wallenius SOL. The deal transfers a long-term contract of affreightment with Smurfit Westrock covering kraftliner cargo from Piteå, Sweden. Wallenius SOL will continue the service before integrating it into its wider northern European network.
Logistics Seanergy lifts fleet renewal to $591m with two Japanese-built capesizes
Greek bulker owner Seanergy Maritime has expanded its fleet renewal programme to eight ships worth a combined $591m, including two Japanese-built capesizes. Long-term charters on three China-built newbuildings set floor rates at about $23,100 per day, above which earnings link to the Baltic Capesize Index. The company also posted record Q2 net income of $26.2m and its spin-off United Maritime sold a panamax while adding capesize tonnage.
Logistics Norwegian offshore vessel owner DOF wins AHTS contracts and Petrobras PLSV extensions
Norwegian offshore vessel owner DOF has won two new AHTS vessel contracts and two long-term Petrobras extensions in Brazil, according to Splash247 Maritime. The AHTS contracts, each worth $15m-$25m, start in Q4 2027, while PLSVs Skandi Buzios and Skandi Recife are extended through January 2028.
Logistics Iran Remains Chief Suspect as Damietta Drone Strike Disrupts LNG Operations
A drone strike at Egypt's Damietta port hit the US-owned FSRU Energos Winter and adjacent LNG carrier GasLog Salem, disrupting LNG import operations. Iran remains the principal suspect, though no group has claimed responsibility and the investigation continues.
Logistics China's Panama-Flag Detention Campaign Starts to Ease, Data Shows
China’s detention of Panama-flagged ships dropped sharply in July to 16 from 140 in May, following Beijing–Panama City negotiations. Nearly 500 Panama-flagged vessels were detained since January, with the dispute rooted in the removal of CK Hutchison's Panama Ports Company from canal terminals.
Trade Singaporean Charged Over Sanctioned North Korean Bulker Petrel 8 Flag Registration
David Chong Kwok Yong, 49, has been charged in Singapore with abetting Niue Ship Registry in registering the UN-designated bulk carrier Petrel 8 under a foreign flag. Singapore's Commercial Affairs Department alleges the registration occurred between May 18 and August 18, 2022, despite grounds to believe the vessel was linked to prohibited North Korean cargoes.
Logistics NYK invests in MidOcean Energy to expand LNG footprint via Mitsubishi joint venture
Nippon Yusen Kaisha (NYK) will invest in UK-based LNG company MidOcean Energy through Mitsubishi-created Diamond Gas MidOcean Limited, expected to become a jointly owned company. The deal includes a strategic partnership in LNG marine transportation, completing between August and September 2026.
Logistics Transponders Off: Saudi Crude Tankers for India Exit Red Sea 'Dark' to Avoid Houthi Blockade
Two oil tankers carrying Saudi crude to Indian refiners—the Suezmax Amazon and Aframax Rodos—switched off their Automatic Identification System (AIS) transponders to safely exit the Red Sea via the Bab el-Mandeb Strait, after Houthi rebels announced a blockade on Saudi shipments. The vessels, managed by Dynacom Tankers, changed course southward on July 22 and are now heading to India, with Rodos due at Mangalore on August 1 and Amazon expected in Chennai in early August. This is the first known instance of 'dark' sailing for Saudi crude tankers to India since the blockade began.
Logistics Scorpio Tankers Takes Minority Stake in Eight VLCC Newbuilds and Orders Two LR2s
Scorpio Tankers has taken a minority stake in an eight-vessel VLCC newbuilding venture and signed a letter of intent for two LR2 product tankers at Jiangsu Hantong Ship Heavy Industry. The company also completed MR newbuilding agreements at Jiangsu Yangzi-Mitsui. The moves expand Scorpio's directly controlled newbuilding programme to 14 ships, with exposure to additional eight VLCCs through the joint venture. Net income surged to $387.5 million in the second quarter.
Logistics HMM pauses new container ship orders, shifting focus to tankers and gas carriers
Hyundai Merchant Marine (HMM), South Korea's flag carrier, is pausing finalization of newbuild orders for at least ten 13,000-TEU LNG dual-fuel container ships planned for the second half of 2026, instead focusing on Suezmax tankers, MR petroleum tankers, VLGCs, and LNG carriers. The shift comes amid warnings of newbuild-driven oversupply, geopolitical cost pressure, and trade policy risks, according to the company's Q1 2026 earnings release.
Logistics Blystad's Songa Box Orders Up to Six Feeders at Chinese Newcomer Shipyard
Arne Blystad's Songa Box has ordered two 1,300 teu feeder vessels at Hubei Guangji Green Energy Shipbuilding in China, with options that could bring the series to six ships worth $180m. The order expands Songa Box's pipeline to eight firm newbuildings and up to 12 with options, amid a broader feeder fleet renewal.
Logistics W Marine broadens newbuild drive with ultramax order at Jiangsu Dajin
Greek shipowner W Marine has placed an order for three 64,500 dwt ultramax bulk carriers at China's Jiangsu Dajin Heavy Industry, with deliveries scheduled for May, August, and November 2028. The deal, the company's first ultramax newbuildings, expands its newbuilding pipeline to five vessels, including two 1,800 TEU feeder containerships booked at Huanghai Shipbuilding. W Marine recently took delivery of two kamsarmaxes from Chengxi Shipyard, marking its return to the newbuilding market after nearly 20 years.
Logistics Jinhui Shipping Secures $70M in Leaseback Financing for Four Ultramax Newbuilds
Jinhui Shipping and Transportation has secured up to $70m in leaseback financing for four ultramax newbuildings across two deals, according to Splash247. The Oslo-listed owner is renewing its fleet with 63,500-64,500 dwt vessels and disposing of older supramax tonnage.
Logistics Seacor Marine Reviews Strategic Options as Investors Push for Sale of Company or Assets
Seacor Marine has announced a strategic review that may lead to a sale of the company or its assets, following pressure from shareholders including the largest holder Pointillist Family Office. The company has retained independent financial advisors, but no timetable or guarantee of a transaction exists.
Logistics OceanPact Acquires Dock Brasil Ship Repair Yard Near Rio de Janeiro for $23.1M
OceanPact has acquired Dock Brasil, a ship repair yard near Rio de Janeiro, for $23.1 million. The deal strengthens OceanPact's capacity to serve the maritime support vessel industry, with completion expected by August 31. The acquisition follows a previous merger agreement with CBO, which will give the combined group a fleet of 73 vessels and annual revenues over $778 million.
Commodities China pulls ahead of Europe in green shipping fuels with faster project execution
China has three operational green shipping fuel plants producing 10 times the combined output of six European sites, according to Transport & Environment. Europe has 69 projects but 80% have not reached final investment decisions. Chinese shipowners are already securing large supply deals with Chinese producers like Goldwind and China Energy Engineering Corporation.
Trade US Sanctions Iran’s Hormuz ‘Extortion Scheme’ and Eight Shadow Tankers
The US Treasury sanctioned Persian Gulf Marine Insurance Company and HormuzSafe Marine Services Authority for running an IRGC-backed extortion scheme that forces commercial vessels to purchase maritime insurance before transiting the Strait of Hormuz. OFAC also designated eight tankers and their owning companies for transporting Iranian crude oil, bringing the total shadow fleet sanctions to over 100 ships since the start of the year.
Logistics Houthis Weigh Toll Scheme for Red Sea Shipping as Attacks Shift to Revenue Generation
Yemen's Houthis are considering a toll scheme for commercial vessels transiting the Bab el-Mandeb strait, potentially shifting from missile and drone attacks to a revenue-generating system controlling access to the southern Red Sea. The proposal, discussed during Houthi officials' July visit to Iran for the funeral of supreme leader Ali Khamenei, involves Iranian advisers developing a new authority to administer fees. Chinese-controlled vessels may be exempt, reflecting separate negotiations with Beijing.
Logistics The Chemical Blind Spot in Ballast Water Treatment: Unmonitored Bromoform Risks to Ports and Shipping
Ballast water treatment systems that use oxidant-based methods, such as electrochlorination, generate disinfection by-products like bromoform which accumulate in port waters without monitoring. The IMO's approval process uses a hypothetical Model Harbour rather than real port conditions. Global ballast discharge volumes remain poorly measured, while studies show bromoform concentrations in treated water are ten times higher than in industrial effluents, with estimated annual release of 860 tonnes worldwide.
Logistics Top Ships Redirects Dubai Refund into Three MR Tanker Newbuildings, Orderbook Reaches 10
Top Ships has redirected funds from a cancelled Dubai property deal into three MR tanker newbuildings, increasing its orderbook to ten vessels. The company will pay about $7.4m after deducting the $23.5m refund. The vessels have secured five-year charters with an unnamed oil major, with potential gross revenue of $140.6m.
Logistics Pelagic Credit Completes $47.4m Sale-and-Leaseback of Three Hartmann Handysize Bulkers
Oslo-listed Pelagic Credit has closed a $47.4 million sale-and-leaseback transaction for three Hartmann-controlled handysize bulkers, marking its entry into the dry bulk sector. The vessels will be chartered back to Hartmann on seven-year bareboat contracts, adding over $107 million to Pelagic Credit's backlog.
Logistics South Africa's Prince Edward Graving Dock Sees Major Upgrade with Troy Docking, Boosting Ship Repair Options
Transnet National Ports Authority docked the crude oil tanker Troy at Durban's Prince Edward Graving Dock, demonstrating enhanced capacity after a R200m ($12m) upgrade. The vessel, one of the longest to use the facility, will undergo 10 days of repairs, supporting local employment and reinforcing Durban's position as a key ship repair destination in Africa, with increased traffic due to the Red Sea crisis.
Logistics Zhenghe Mainline Orders Six 4,600 TEU Boxships at Hengli Shipbuilding for Baltic Service
Chinese state-owned carrier Zhenghe Mainline has ordered six 4,600 TEU containerships from Hengli Shipbuilding in a deal worth over RMB3 billion ($443 million). The vessels will serve a new route linking Taicang with the Baltic, giving parent Jiangsu Port Group greater control over capacity for eastern China exporters. The order brings Zhenghe's confirmed orderbook at the yard to 11 ships with combined capacity of about 47,700 TEU.
Logistics IACS chief Robert Ashdown appointed chair of trustees at seafarer charity Stella Maris UK
Robert Ashdown, secretary-general of the International Association of Classification Societies (IACS), has been appointed chair of trustees at seafarer charity Stella Maris UK. He succeeds Captain Esteban Pacha, who steps down after eight years and becomes the charity's first ambassador. Ashdown previously served nine years as a trustee of the charity, which provides practical, pastoral, and spiritual support to seafarers, fishers, and their families.
Logistics Resumed US-Iran Attacks Inject Fresh Uncertainty Into Strait of Hormuz Shipping
Iran and the United States have resumed military attacks, ending a lull and injecting fresh uncertainty into shipping through the Strait of Hormuz. Iran's Revolutionary Guard claims it hit three oil tankers after they ignored warnings, while a US blockade since July 14 and mine risk make internationally recognised lanes unusable. A Gulf-backed Omani proposal for joint management faces Iranian rejection.
Logistics HD Hyundai Launches First Ship from Revived Subic Shipyard in the Philippines
HD Hyundai Heavy Industries Philippines has launched the Orion Jade, the first vessel built at its revived Subic shipyard, marking the start of full-scale operations. The 250-metre bulker is the first of a four-ship order. The project has created 4,000 jobs, expected to double, and reflects Korean shipbuilding expansion beyond South Korea.
Logistics Diana Shipping threatens to cut Genco takeover bid after fleet value drops $50m
Diana Shipping has warned it may reduce its $27.34-per-share takeover proposal for Genco Shipping & Trading, citing a $50 million drop in Genco's fleet value since early June. The Athens-based owner claims a softer dry bulk market is eroding Genco's net asset value, and has also questioned the valuation method used by the New York-listed owner. Genco has rejected the allegations, stating that broker valuations show vessel prices are still rising.
Logistics C. Y. Tung Biography Charts Rise of Chinese Deepsea Shipping From Marginal Force to Global Player
A newly published biography, 'C. Y. Tung (1912–1982) and the Rise of Modern Chinese Shipping', chronicles the Hong Kong shipowner's career from the 1930s to his death in 1982. Written by maritime historian Howard Dick and Stephen Kentwell, the book details Tung's role in building a Chinese merchant fleet capable of competing globally, including his pioneering container ships and the ill-fated Seawise University project.
Logistics Geopolitics Drives CMA CGM Q2 Profit Surge of 42% as Volumes and Rates Climb
CMA CGM posted a 42.4% increase in second-quarter EBITDA to $2.26 billion, with maritime volumes rising 6% to 6.3 million TEUs. The carrier attributed the results to geopolitical instability, sustained freight rates, and network adjustments, including new services like the Mekong Transpacific Express.
Logistics Cheap Drones Expand Maritime Risk: Caspian Now a War Zone for Shipping
A weekend Ukrainian drone strike on an Iranian cargo vessel in the Caspian Sea has removed the assumption that the inland sea was immune from attack. The incident directly links the Ukraine and Middle East conflicts, forcing insurers to add the Caspian to their watchlist alongside the Red Sea, Black Sea, and Strait of Hormuz. Rerouting options are now limited, with no maritime substitute for the Caspian route.
Logistics Diana Drops Hostile Tender for Genco as Takeover Talks Stall, Keeps Higher Bid on Table
Diana Shipping has allowed its hostile tender offer for Genco Shipping & Trading to expire after insufficient shares were tendered, but the company is keeping its separate $27.34-per-share takeover proposal on the table. The tender, which offered $24.80 per share, saw 31.6% of Genco's outside stock tendered. Diana now seeks direct negotiations, while Genco disputes valuation claims and questions the stock component of the proposal.
Logistics Small Can Test Can Prevent Nickel Ore Liquefaction Tragedy at Sea
Nickel ore that is too wet can liquefy during voyage, shifting cargo and causing vessel capsizing. The can test — a simple field test — helps crews identify dangerously wet cargo before loading. Captain Simon Hodgkinson of West P&I explains the procedure and its limitations.
Logistics US urged to create publicly backed container line to reduce foreign carrier dependence, report says
The Open Markets Institute report urges the US to create a publicly backed container shipping line to reduce dependence on foreign carriers, which control nearly 80% of global container capacity. The report alleges a 'container cartel' and proposes tighter FMC scrutiny, restored common-carrier protections, and expanded mariner training.
Logistics Asyad Brings Omani Investors Into LNG Carrier Pair, Retains Majority Control
Asyad Shipping has sold 20% stakes in the companies owning two new LNG carriers – Muscat LNG and Musandam LNG – to Omani investors. Oman LNG Development Foundation Investment Fund and Mars Development and Investment each acquired 10%, while Asyad retains 80% and operational control. The 174,000 cbm vessels were built by HD Hyundai Samho and are on long-term charter to Oman LNG.
Logistics Weekend Lull Fails to Unlock Strait of Hormuz Shipping as Attacks Pause
A weekend lull in US-Iran attacks brought no relief to Strait of Hormuz shipping, with commercial traffic at around 12 daily passages and crude tanker transits at about one per day. The Pentagon halted its bombing campaign late Friday after 13 consecutive nights, but shipowners remain wary. Meanwhile, the Lloyd's Market Association published model wording (LMA5708) that could void hull cover for vessels paying transit fees, and US Central Command continued enforcement operations, including disabling a tanker in the Gulf of Oman.
Logistics Shipmanagement Industry Stagnant at 20% Outsourcing, Former Columbia Group CEO argues for Reinvention
Mark O'Neil, former president and CEO of Columbia Group, writes in Splash247 that outsourced shipmanagement still accounts for only about 20% of the global fleet, with 80% of operators preferring in-house models. He argues that the industry must move beyond traditional third-party approaches to embrace closer second-party partnerships and technology to become more compelling for the majority of maritime operators.
Logistics Nuclear container ships move closer with Port of Long Beach-Marad test program
The Port of Long Beach and the U.S. Maritime Administration have signed a Memorandum of Cooperation to test small modular reactor technology for powering commercial vessels and port operations. The project could lead to the first U.S.-flagged nuclear container ship since 1959, with potential to transform maritime supply chain energy use.
Logistics Chinese Yard Huarun Dadong to Convert Semisub Rig into 600-Person Floating Accommodation Unit for Brazil
Shanghai-based Huarun Dadong Dockyard has secured a contract to convert the 2010-built semisub rig Sparta into a 600-person floating accommodation unit. The 14-month overhaul includes new accommodation modules, life extension, and deployment to Brazilian waters by Q3 2027. The project involves China Merchants Harbour Engineering and marks a major rig conversion in China.
Logistics Triple-Pronged War Threat Intensifies for Global Shipping in Hormuz, Red Sea, and Black Sea
Shipping faces simultaneous crises: Iranian attacks in the Strait of Hormuz, Houthi strikes on tankers in the Red Sea, and Russia-Ukraine attacks halting Ukraine's maritime corridor. New US tariffs and climate disruption on European rivers compound the risks.
Logistics China Smashes Ship-Order Record in First Half, Tightening Grip on Global Market
Chinese shipyards booked 121.06 million deadweight tonnes (dwt) of new orders in the first half of 2026, surpassing any previous full-year total and representing 82.3% of global ordering. Shipbuilding output rose 51.2% to 36.5m dwt, and the orderbook reached 363.25m dwt, up 54.9% year-on-year. Chinese builders also secured over 80% of global orders for bulk carriers, containerships, and tankers, and maintained a >68% share of green vessel orders.
Trade EU Grants Dynagas 12-Month Reprieve in Latest Russia Sanctions Package
The European Union has added 41 vessels to its shadow fleet blacklist while granting Greek shipowner Dynagas a temporary 12-month reprieve from restrictions on carrying Russian LNG to non-EU countries. The exemption limits volumes to 2025 levels and is part of the EU's 21st sanctions package.
Logistics China Launches Largest Hydrogen-Powered Inland Cargo Ship for Pearl River Commercial Network
China has launched the Yun Tao No 1, its largest hydrogen-powered inland cargo vessel, as part of a push toward commercial zero-emission shipping on the Pearl River basin. The 2,000-tonne ship, built by China State Shipbuilding Corporation, can carry 140 containers and claims fuel cost savings of 25-30% over diesel. The operator plans to deploy 100 standardized hydrogen vessels within four years, targeting subsidy-free operations by 2028.
Logistics Diana Shipping Locks In 63% Rate Hike for Panamax Bulker Atalandi with Stone Shipping
Diana Shipping has chartered its panamax bulker Atalandi to Stone Shipping at a 63% higher rate of $16,500 per day. The enhanced fixture runs from August 5, 2026, with minimum gross revenue of $5.89 million. The deal joins a string of improved Diana fixtures this year, including the ultramax DSI Pegasus and kamsarmax Medusa.
Logistics Wisdom Marine Abandons Plans for Two Handysize Newbuilds from Naikai Zosen
Wisdom Marine has terminated plans to acquire two handysize newbuildings from Japan's Naikai Zosen, citing failure to reach an agreement. The deal, approved in March 2025 with a $70.75 million budget, never progressed to a formal contract. Wisdom reports no material financial or operational impact.
Logistics Aberdeen Group Takes 5% Stake in Malaysian Liner MTT Shipping and Logistics
London-listed asset manager Aberdeen Group has acquired a 5.075% stake in Malaysian liner operator MTT Shipping and Logistics, becoming one of its largest shareholders. The investment, valued at RM123.1 million ($30 million), follows MTT's recent listing on Bursa Malaysia and its order of two 3,300 TEU containerships for fleet expansion.
Logistics Why America May Reflag Gulf Tankers Again: Strait of Hormuz Crisis Escalates
The US may reflag Gulf tankers again, escalating its escort operations in the Strait of Hormuz amid a direct conflict with Iran. According to Splash247, Iran's capabilities have grown since the 1987 Operation Earnest Will, with 17 damaged ships and 12 seafarers killed or missing since February 2026. The US already runs an improvised escort scheme, but formal reflagging would give insurers and shippers legal clarity to bring stranded tonnage back through the strait.
Logistics Dalian Launches New Deepsea Shipping Platform to Retain Local Cargo Value
A new ocean-going shipping company, Dalian Ocean Shipping Co, has been formally inaugurated in Dalian to retain local cargo value and build control over international transport capacity. With registered capital of RMB120m ($16.7m) and commitments for 1.5m tonnes of petroleum coke and 500,000 dwt vessel capacity, the company plans to enter deepsea cargo transportation and expand into ship management, freight forwarding, and supply chain services.
Logistics DOF revamps offshore fleet with PSV sales and CSV acquisitions from China
Norwegian offshore vessel owner DOF is reshaping its fleet by selling four platform supply vessels (PSVs) and acquiring two construction support vessels (CSVs) under construction in China. The moves are part of a fleet high-grading programme aimed at lifting earnings capacity while maintaining leverage. Separately, DOF declared a constructive total loss on the Skandi Amazonas after a grounding, triggering a $115m insurance payout.
Logistics Offshore fatalities double in 2025 despite improved injury rates, IMCA report warns
A new safety report from the International Marine Contractors Association (IMCA) shows that fatalities in the offshore marine contracting industry more than doubled in 2025, from three to seven, even as traditional safety indicators like lost-time injury frequency improved. The report urges a shift toward preventing serious injuries and fatalities rather than relying solely on injury frequency rates.
Logistics Houthis Claim Missile and Drone Strikes on Two Saudi Tankers in Red Sea Escalation
Yemen's Houthi movement claimed to have struck two Saudi oil tankers in the Red Sea on July 23, 2026, the first attacks since declaring a naval blockade on Saudi Arabia. One tanker, the Encelia, was hit by an unknown projectile, causing a fire. The Houthis declared the Bab el-Mandeb strait closed to Saudi-flagged tankers, raising risks for shipping lanes and energy infrastructure.
Logistics Splash Ports Launches as Dedicated Vertical for Global Ports and Terminals Intelligence
Splash Ports, a new dedicated vertical from Splash247, launches today to provide daily reporting, analysis, and intelligence on the ports and terminals sector globally. The publication covers container, bulk, and energy operations, infrastructure, investment, technology, and policy, aiming to become an essential resource for industry executives.
Logistics Singapore Week of Maritime Events in September 2026: Why Executives Should Plan Now for Splash Singapore and More
International shipping executives are urged to base themselves in Singapore for the week of September 21–25, 2026, as a series of major maritime events—including the inaugural Splash Singapore conference—bring together key decision-makers from across the industry. The week features the IMO Research and Development Forum, Marine Money Week Asia, SpillAsia 2026, Submarine Networks World, and the SSA 41st Anniversary Gala Dinner, offering unparalleled networking and intelligence-gathering opportunities.
Logistics World's largest shipmanager sees owners demanding more than technical management
Anglo-Eastern Univan Group CEO Bjorn Hojgaard argues that shipmanagement has evolved beyond technical operations and cost control. Owners increasingly demand protection against geopolitical, regulatory, cyber, and workforce risks, making peace of mind a key value driver.
Logistics Pelagic Credit Enters Chemical Tanker Market with $24.7M Pre-Delivery Financing for Two Newbuilds
Pelagic Credit has made its first investment in chemical tankers, committing $24.7m to pre-delivery financing for two 10,000 dwt newbuildings. The vessels have secured long-term time charters with an unnamed energy infrastructure company. The transaction is expected to close this month and represents a diversification of the Oslo-listed company's portfolio beyond multipurpose and offshore support vessels.
Logistics Port of Long Beach to Become US Testbed for Nuclear-Powered Commercial Shipping
The US Maritime Administration is set to sign a landmark agreement with the Port of Long Beach to explore small modular reactors for commercial vessels and port operations. The initiative aims to reduce fuel costs and emissions while rebuilding US maritime capabilities.
Logistics Panama Canal Cuts Daily Booking Slots as El Niño Threat Disrupts Vessel Scheduling
The Panama Canal Authority is cutting daily booking capacity from 36 to 34 vessels starting July 25, suspending close-in 'Period 3' slot auctions for regular and super Panamax vessels. The measure responds to growing El Niño fears and follows a draft reduction on July 1. Norton Lilly warns affected vessels face greater difficulty securing passages, and competition for advance bookings is expected to rise.
Logistics 26-Year-Old Car Carrier Chang Sheng Hong Fetches $42 Million at Shanghai Auction, Triple Reserve
The 4,310-ceu car carrier Chang Sheng Hong was sold at auction in Shanghai for approximately $42 million, three times its reserve price of RMB95 million ($14 million). The 26-year-old vessel, built in 2000 at Croatia's Uljanik shipyard, had previously traded as Dresden and was renamed in 2017 after entering Chinese ownership. The sale underscores an extremely tight car carrier market driven by China's surging vehicle exports, with up to 2 million cars shipped on containerships this year.
Logistics Seamec strengthens offshore fleet with $70m diving support vessel buy
Indian offshore vessel operator Seamec has signed a definitive agreement to purchase the diving support vessel (DSV) Seamec Anant from its parent company HAL Offshore for $70 million. The vessel, built in 2023, will be chartered back to HAL Offshore at a $45,000 dayrate after delivery around August 31. Separately, Seamec's board approved the sale of the bulk carrier Seamec Gallant for $9.5 million.