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29 September 2025
Shipping Telegraphport-and-ship
Sep 29, 2025Shipping Telegraph
Lars-Christian Svensen-led 2020 Bulkers has inked an agreement to sell three of its newcastlemax vessels for $209m to an unnamed buyer.
The Oslo Børs-listed newcastlemax shipowner said it had agreed to offload the 208,000-dwt Bulk Sandefjord and Bulk Santiago, both built in 2019, and the 2020-built vessel, Bulk Shenzhen.
The three newcastlemax vessels will be sold to an unaffiliated third party for a total consideration of US$209m.
As it is reported, each sale is subject to certain closing conditions, in line with industry standards.
The company will retain the vessels’ respective operating cashflows until closing of each vessel transaction, the shipowner said in a filing, each of which is agreed to take place during the first quarter of 2026.
Meanwhile, the shipowner expects to recognize a net book gain of around US$89m upon completion of the transactions.
The company’s board of directors will, subject to completion of the sales, determine the allocation of the net proceeds from the transactions.
Currently, 2020 Bulkers has six newcastlemax dry bulk vessels in operation. All vessels are fitted with exhaust scrubber systems.
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2020 Bulkers Sells Newcastlemax Trio In $209M DealLars-Christian Svensen-led 2020 Bulkers has inked an agreement to sell three of its newcastlemax vessels for $209m to an unnamed buyer.
The Oslo Børs-listed newcastlemax shipowner said it had agreed to offload the 208,000-dwt Bulk Sandefjord and Bulk Santiago, both built in 2019, and the 2020-built vessel, Bulk Shenzhen.
The three newcastlemax vessels will be sold to an unaffiliated third party for a total consideration of US$209m.
As it is reported, each sale is subject to certain closing conditions, in line with industry standards.
The company will retain the vessels’ respective operating cashflows until closing of each vessel transaction, the shipowner said in a filing, each of which is agreed to take place during the first quarter of 2026.
Meanwhile, the shipowner expects to recognize a net book gain of around US$89m upon completion of the transactions.
The company’s board of directors will, subject to completion of the sales, determine the allocation of the net proceeds from the transactions.
Currently, 2020 Bulkers has six newcastlemax dry bulk vessels in operation. All vessels are fitted with exhaust scrubber systems.
Shipping Telegraph
port & ship
29 September 20251 min read2020 Bulkers Sells Newcastlemax Trio In $209M Deal
Shipping Telegraph
29 September 2025
port-and-ship
India Approves $8 Billion Plan To Become Global Shipbuilding Leader By 2030In a historic move to strengthen its maritime capabilities, India’s Union Cabinet approved a ₹69,725 crore (around $8 billion) incentive package for the shipping and ports sector on Wednesday.
The decision aims to transform India’s shipbuilding industry, modernise port infrastructure, encourage domestic ship ownership, and position India as a major player in global shipping.
The goal is to move India from the 16th position in global shipbuilding to a place among the top 10 by 2030, and to reach the top five by 2047. The initiative is expected to generate 3 million jobs and attract investments worth ₹4.5 trillion.
Union Information and Broadcasting Minister Ashwini Vaishnaw said the maritime reforms are part of a larger ₹95,000 crore government package that also includes investments in railways, highways, human resources, and medical education.
Four Pillars of the Maritime Growth Plan
The ₹69,725 crore package rests on four major pillars:
1. Shipbuilding Financial Assistance (₹24,736 Crore)
The SBFA scheme will offer direct financial incentives to shipyards. Vessels valued below ₹100 crore will get a 15% subsidy, those above ₹100 crore will get 20%, and special, green, and hybrid vessels will receive 25%, with a requirement of at least 30% local value addition.
Additionally, a credit note equivalent to 40% of a vessel’s scrap value will be provided when the ship is dismantled in India. This credit can be used toward the cost of constructing a new vessel. A total of ₹20,554 crore has been allocated for SBFA until March 2036.
2. Maritime Development Fund (₹25,000 Crore)
The MDF will include a ₹20,000 crore Maritime Investment Fund to support equity investments and a ₹5,000 crore Interest Incentivisation Fund offering a 3% interest subsidy for loans linked to shipbuilding, ship repair, port expansion, inland waterways, and coastal shipping projects.
3. Shipbuilding Development Fund (₹19,989 Crore)
This fund will promote the creation of shipbuilding and maritime clusters to enhance efficiency, infrastructure, and scale in the sector.
4. Legal and Policy Reforms
The government will work with stakeholders to build a legal framework for dispute resolution and arbitration, ensuring smoother operations and investor confidence.
Impact on Shipbuilding and Ports
The reforms aim to raise India’s shipbuilding capacity from just over 0.1 million gross tonnes to 4.5 million gross tonnes initially, with the potential to reach 8.2 million gross tonnes. The package also seeks to add 250 million tonnes per annum to port capacity and more than 2,500 vessels to the fleet.
The maritime sector has widely welcomed the announcement. Rear Admiral Vipin Kumar Saxena (retd), CEO of Swan Defence and Heavy Industries, called it an important step for shipbuilding growth. Capt Anand Jayaraman of Mitsui O.S.K. Lines said strengthening shipbuilding in India is essential as global supply chains change.
Nagarajan Jambunathan, CFO of JSW Infrastructure, said the move will speed up trade flows and attract private investment. Pushpank Kaushik, CEO of Jassper Shipping, said the shipbreaking incentives will support sustainable and circular economy practices.
References: cnbctv18, livemint
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Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
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25 September 20254 min readIndia Approves $8 Billion Plan To Become Global Shipbuilding Leader By 2030
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25 September 2025
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Nyk Completes First Ship-To-Ship Transfer Of 23,000 Tons Of Liquefied AmmoniaJapanese shipping company, NYK Line completed its first-ever ship-to-ship (STS) transfer of liquefied ammonia, moving approximately 23,000 tons between two vessels in open waters off Ceuta, Spain on September 2, 2025.
The ammonia was transferred from the carrier Berlian Ekuator, owned by NYK and time-chartered by Mitsui & Co., to the ammonia carrier Eco Enchanted, operated by Trammo, Inc., a leading ammonia trading company.
This was NYK’s first STS transfer of liquefied ammonia, adding to its established experience in STS operations involving crude oil, liquefied natural gas (LNG), and liquefied petroleum gas (LPG).
NYK leveraged its expertise and upgraded safety management system to ensure the transfer was completed securely under strict safety measures.
Trammo brought in its years of experience in ammonia handling, working with its designated STS specialist provider, International Fender Providers Ltd., to support the operation. The collaboration ensured the safe movement of the entire cargo in compliance with rigorous safety protocols.
Ammonia is a vital industrial product, widely used in fertilizers and chemicals. Beyond these uses, it is gaining attention as a carbon-free fuel option for the future.
Industry experts believe ammonia could play an important role in decarbonising shipping and other sectors, making it a key part of future energy systems.
Unlike conventional port-based transfers, STS transfers are flexible because they do not depend on port facilities, making them a good solution for growing ammonia transport needs. The success of this operation is seen as a milestone toward developing a global ammonia supply chain.
Reference: NYK Line
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In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
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25 September 20253 min readNyk Completes First Ship-To-Ship Transfer Of 23,000 Tons Of Liquefied Ammonia
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25 September 2025
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Singapore Shipping Firm Refuses To Pay $1 Billion Fine For Sri Lanka’S Worst Pollution DisasterA Singapore-based shipping company, X-Press Feeders, has refused to pay US$1 billion in damages ordered by Sri Lanka’s Supreme Court for the country’s worst environmental pollution disaster, caused by the sinking of the MV X-Press Pearl near Colombo Port in June 2021.
The ship caught fire for nearly two weeks, reportedly due to a nitric acid leak, while carrying 81 containers of hazardous materials (including acids, lead ingots) and hundreds of tonnes of plastic pellets. Attempts to offload the leaking acid in Qatar and India were refused before it reached Sri Lankan waters.
The disaster polluted an 80-kilometre stretch of Sri Lanka’s western coast, with microplastics affecting beaches and marine life. Fishing was banned in the area for several months.
In July 2025, the Supreme Court of Sri Lanka ordered X-Press Feeders to pay an “initial” US$1 billion in damages within a year, with US$250 million due immediately and further payments required later.
Shmuel Yoskovitz, CEO of X-Press Feeders, told AFP that the company would not comply with the ruling, citing concerns about its impact on global maritime trade and the principle of limiting liability.
He said the company has already spent US$170 million on cleanup, wreck removal, and compensating fishermen and is willing to pay more under maritime conventions as a final settlement. He described the court ruling as a “hanging guillotine” that threatens normal operations.
The Sri Lankan government plans to seek advice from the attorney general on next steps. Government spokesman Nalinda Jayatissa said officials will follow legal guidance to enforce the judgement.
The United Nations in Colombo welcomed the Supreme Court’s ruling, describing it as an important move for justice and accountability. It noted that the “polluter pays” principle is recognised under international agreements, including the UN Convention on the Law of the Sea.
Experts warn that long-term environmental damage will persist despite major cleanup efforts immediately after the incident. Hemantha Withanage of the Centre for Environmental Justice said beaches may look clean, but marine ecosystem damage will continue for years.
The court also directed police and prosecutors to start criminal proceedings if the company or associated parties fail to comply. The ship’s Russian captain, Vitaly Tyutkalo, has been barred from leaving Sri Lanka for over four years.
X-Press Feeders had offered a fine to secure the captain’s release, but it was rejected. The company had also obtained a London Admiralty Court order in July 2023 limiting its liability to a maximum of £19 million (US$25 million), a decision currently being challenged by Sri Lanka.
Additionally, the Sri Lankan government has filed a case against X-Press Feeders in the Singapore International Commercial Court. The case is on hold until the London proceedings conclude, with a pre-trial hearing expected in May 2026.
Reference: FirstPost
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In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
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23 September 20254 min readSingapore Shipping Firm Refuses To Pay $1 Billion Fine For Sri Lanka’S Worst Pollution Disaster
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23 September 2025
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Eu Seizes 2,435 Containers Worth €250 Million In Biggest Ever Bust At Port Of PiraeusThe European Public Prosecutor’s Office (EPPO) in Athens has carried out the largest container seizure in European Union history, intercepting 2,435 shipping containers at the port of Piraeus. The containers, valued at around €250 million, were mainly loaded with e-bikes, textiles, and footwear.
The seizure followed a coordinated raid at the end of June 2025 under EPPO’s Operation Calypso, which targeted organised groups smuggling goods from China to avoid customs duties and VAT. The operation, carried out in four countries, led to the arrest of ten suspects.
In Athens, six people, including two customs officers, have been charged with fraud. Investigators say the officers repeatedly issued false certificates, causing over €871,000 in losses to the EU budget. Four customs brokers are also accused of customs fraud and encouraging false declarations, involving the same amount in unpaid duties and taxes. One broker was arrested last Friday, while four others arrested in June remain in custody.
The first 500 containers were seized during the June raid itself. Later, an additional 1,935 containers in transit to the EU were intercepted upon arrival in Piraeus, bringing the total to 2,435 containers, the largest seizure of its kind in the EU. Authorities confirmed that all containers were directly linked to the alleged fraud network.
Greek customs officials have begun inspecting the containers, but only a few have been opened so far. Each checked container shows similar misdeclarations and undervaluation. Officials said that opening and analysing thousands of containers is an unprecedented task for the Piraeus customs team and also presents safety risks.
Among the seized shipments, 500 containers were packed with e-bikes, and 360 of them had not been declared at all. Investigators said that, on average, only 10–15% of the e-bikes in each container were declared to customs. This method allowed the importers to avoid anti-dumping duties applied to e-bike imports from China. Losses from these e-bikes alone are estimated at €25 million in unpaid customs duties and €12.5 million in VAT.
The European Public Prosecutor’s Office (EPPO) reported that this fraud had been ongoing for at least eight years, with similar numbers of containers declared each month to avoid detection. Overall, the EU budget suffered around €350 million in lost customs duties and €450 million in lost VAT.
Investigators found that the networks, mostly run by Chinese nationals, not only imported and distributed the e-bikes but also laundered the profits and sent money back to China.
Since the June raid, Greek customs at Piraeus port have seen improvements: importers are now declaring goods at closer-to their actual market price.
Reference: EPPO
Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
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20 September 20254 min readEu Seizes 2,435 Containers Worth €250 Million In Biggest Ever Bust At Port Of Piraeus
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20 September 2025
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Hanwha Ocean Secures $1.4 Billion Order For Seven Lng Container Shipsin Shipbuilding News
19/09/2025
Hanwha Ocean has secured an order for seven large container ships worth approximately 2 trillion Korean won from Taiwan’s Yang Ming Marine.
On the 17th, Hanwha Ocean announced that it had signed a contract with Yang Ming Marine to build seven 15,880 TEU (1 TEU = 20-foot container)-class LNG dual-fuel propulsion container ships. The total contract value is $1.4 billion, equivalent to approximately 1.93 trillion Korean won. The vessels will be constructed at the Geoje shipyard and delivered sequentially by the first half of 2029.
This marks Hanwha Ocean’s second major contract with a Taiwanese company. In March, it also won a contract from Taiwan’s Evergreen Marine for six 24,000 TEU-class LNG dual-fuel propulsion eco-friendly ultra-large container ships.
Taiwan is the only country in the world to host two of the global top 10 shipping companies (Evergreen and Yang Ming Marine), with their combined market share ranking fifth worldwide. By partnering with both leading Taiwanese shipping firms, Hanwha Ocean has strengthened its position in Taiwan’s maritime market.
The newly ordered container ships are large vessels capable of transporting 15,880 twenty-foot containers simultaneously. Notably, they are equipped with LNG dual-fuel propulsion engines as standard and are designed as “Ammonia Ready” specifications, allowing future conversion to ammonia dual-fuel propulsion.
“Ammonia Ready” means the ships are not immediately using ammonia fuel but are designed for potential retrofitting into ammonia-fueled vessels in the future. The engines and fuel supply systems incorporate specifications and durability required for ammonia fuel compatibility in advance, preparing for future carbon neutrality regulations.
Hanwha Ocean’s core technologies are extensively applied to these vessels. They feature LNG fuel tanks capable of withstanding 1.0 bar (atmospheric pressure, where 1 bar equals the pressure exerted by approximately 10 tons of weight on 1 square meter), a world-first achievement. Conventional fuel tanks typically withstand around 0.7 bar, but increasing the pressure allows for longer and safer storage of LNG vaporized gas.
Source: The Chosun Daily
Hellenic Shipping News
port & ship
19 September 20252 min readHanwha Ocean Secures $1.4 Billion Order For Seven Lng Container Ships
Hellenic Shipping News
19 September 2025
port-and-ship
Apmt Mexico Unveils $160 Million Plan To Modernise TerminalThe investment will upgrade infrastructure, renew equipment, and introduce advanced technology to boost operational efficiency, logistics visibility, and service reliability.
The plan aims to elevate Puerto Progreso’s logistics capabilities, enhance maritime connectivity in southeast Mexico, and generate jobs and economic opportunities for the region.
APM Terminals CEO Keith Svendsen said: “I’m proud of the long-term project at APMT Yucatán, a pivotal step in modernising infrastructure, boosting capacity, and strengthening Mexico’s position in global trade. This investment introduces new equipment, smarter terminal design, and advances our decarbonisation strategy.
READ: APMT Pecém reports record growth in H1 2025
“It also sharpens our focus on enhancing safety, service quality, delivery, and cost efficiency – all underpinned by Lean principles that help us continuously improve operations. Above all, it reaffirms our enduring commitment to Mexico and our partners, built on trust, transparency, and performance.”
Beatriz Yera, Managing Director of APM Terminals Mexico, added: “We are going to invest not only to contribute to Yucatán’s economic and commercial development, but also to share our expertise and create synergies with authorities, local businesses, and port service providers to make Puerto Progreso a benchmark for port innovation and technology—a more efficient and sustainable port for the benefit of Mexico and its people.”
APMT also signed a Memorandum of Understanding (MoU) with the Yucatán state government to bring its expertise and best practices as a global terminal operator to support regional industrial growth.
Recently, APMT celebrated the signing of a contract with FCC for the first phase of an ambitious plan to modernise its facilities at the Port of Barcelona.
Port Technology International
port & ship
19 September 20252 min readApmt Mexico Unveils $160 Million Plan To Modernise Terminal
Port Technology International
19 September 2025
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Hanwha Ocean Secures $1.47B Deal To Build 7 Advanced Lng Ships For Yang MingSouth Korea’s Hanwha Ocean Co. has secured a 1.93 trillion-won ($1.47 billion) contract from Taiwan’s Yang Ming Marine Transport Corp. to build seven LNG dual-fuel container ships, marking the shipbuilder’s first order from the Taiwanese carrier.
The new vessels, each with a capacity of 15,880 twenty-foot equivalent units (TEUs), will be constructed at Hanwha’s Okpo Shipyard in Geoje, South Gyeongsang Province, and are scheduled for delivery between 2028 and 2029.
The ships will feature Ammonia Fuel Ready (AFR) specifications, enabling future conversion to ammonia dual-fuel propulsion. This meets strict International Maritime Organisation (IMO) environmental standards while providing flexibility to adopt alternative fuels during the transition to low-carbon shipping. The design has received the Ammonia Fuel Ready Level 1C notation from the American Bureau of Shipping (ABS).
A key innovation is the use of Type-B LNG fuel tanks with a 1.0 bar pressure rating, the first of its kind in the world. This improves safety and allows longer storage of vaporized LNG, supporting more efficient operations. The tanks were developed jointly by Hanwha Ocean and ABS.
Experts say LNG dual-fuel ships can cut greenhouse gas emissions by about 20%, making them a practical choice for shipping companies moving toward net-zero operations. Yang Ming already has five LNG dual-fuel ships of similar size on order, with delivery starting in 2026. The addition of these seven vessels will expand the carrier’s green fleet will grow to 12 vessels, enhancing flexibility and competitiveness globally.
Ammonia is being explored as a next-generation marine fuel because it emits zero CO₂ during combustion. Using LNG tanks designed for future ammonia conversion reduces conversion costs while relying on an increasingly developed supply chain. These features will help Yang Ming comply with upcoming international environmental regulations.
This order follows a similar contract Hanwha Ocean signed in March with Evergreen Marine, another Taiwanese shipper, highlighting the company’s growing presence in Taiwan, and its reputation for eco-friendly and innovative ship designs.
Reference: Yang Ming
Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
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18 September 20253 min readHanwha Ocean Secures $1.47B Deal To Build 7 Advanced Lng Ships For Yang Ming
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18 September 2025
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Uk'S Port Of Tyne Unveils $200M Upgrade Plan To Back...September 16, 2025
The Port of Tyne has unveiled plans to invest around $200 million to redevelop 230 acres into the Tyne Clean Energy Park, adding 400 meters of deep-water quayside to support offshore renewables, clean energy and advanced manufacturing.
The project could create up to 12,000 jobs and deliver $7.6 billion to the economy, according to an independent study by WSP.
The investment program will transform the north and south banks of the Port of Tyne and add an additional 400 meters of deep-water quayside.
The plan for Tyne Clean Energy Park includes a kilometer of both new and redeveloped deep-water, heavy lift quay to facilitate the use of a 230-acre footprint sited within an Industrial Strategy Zone, providing similar benefits to freeports.
These include Business Rates relief, enhanced Capital Allowances, enhanced Structures and Buildings Allowance, employer National Insurance contributions relief and Stamp Duty Land Tax relief.
The development will focus on supporting the fast-growing offshore renewables, clean energy and advanced manufacturing sectors.
“Accelerating offshore wind, renewable energy and advanced manufacturing is a national priority and requires decisive action. Boosted by Industrial Strategy Zone status that provides similar benefits to a modern freeport, our expanded Tyne Clean Energy Park is uniquely positioned to support this U.K.-wide initiative.
“Located close to emerging North Sea wind arrays, this nationally strategic site offers deep-water access and a major development footprint to enable the creation of world-class infrastructure to support a growing supply chain offering,” said Matt Beeton, Chief Executive Officer at the Port of Tyne.
Beeton added that phase one, Howdon Quay, with a 23,024 square foot warehouse and a dedicated berth is already complete and ready for business following a $8.17 million redevelopment.
Maritime Logistics Professional
port & ship
16 September 20252 min readUk'S Port Of Tyne Unveils $200M Upgrade Plan To Back...
Maritime Logistics Professional
16 September 2025
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Port Of Tyne Unveils £150 Million Clean Energy RedevelopmentThe £150 million ($203 million) investment aims to support offshore wind, clean energy, and advanced manufacturing, with an independent WSP study estimating up to 12,000 new jobs and £5.6 billion ($7.6 billion) in economic impact.
The project will be presented at the Port Investment Panel during London International Shipping Week on 17 September.
It has been endorsed by Transport Secretary Heidi Alexander and North East Mayor Kim McGuinness, who sees the development as a key part of the region’s clean energy and industrial growth strategy.
READ: Port of Tyne gains UK’s first electric foiling pilot boat
Located within an Industrial Strategy Zone, the site offers similar incentives to freeports, including Business Rates relief, enhanced capital allowances, and employer National Insurance relief.
The redevelopment includes 1 kilometre (1 km) of new and upgraded deep-water quay and a 230-acre development footprint.
Phase one—Howdon Quay—has been completed following a £6 million ($8 million) upgrade. It includes a 23,000 square foot warehouse and a dedicated berth, and is now operational.
READ: Port of Tyne names new Innovation Partnerships Manager
North East Mayor, Kim McGuinness, said: “The Port of Tyne’s clean energy terminal and deep-water dock will support our efforts to make the North East a hub for the green energy revolution. The site has huge potential to generate thousands of jobs and strengthen our offshore and renewables industries.”
Matt Beeton, CEO, Port of Tyne, stated: “Accelerating offshore wind, renewable energy and advanced manufacturing is a national priority. With Industrial Strategy Zone status and deep-water access, the Tyne Clean Energy Park is uniquely placed to support this UK-wide initiative.
“Phase one at Howdon Quay is complete, with a new warehouse and berth ready for business. We’re working with local and national partners to unlock the region’s potential and attract global investment.”
In August, the Port of Tyne hosted key UK and European stakeholders to share progress on the Green North Sea Shipping Corridor, a major initiative to decarbonise maritime transport between the UK and the Netherlands.
Port Technology International
port & ship
15 September 20252 min readPort Of Tyne Unveils £150 Million Clean Energy Redevelopment
Port Technology International
15 September 2025
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Montreal Port Project Backed Sees Cost Rise To $1.7 BillionStock Photo: PatrickLauzon photographe / Shutterstock.com
(Bloomberg) — The cost of a new Port of Montreal terminal that Canadian Prime Minister Mark Carney says is in the national interest has soared to C$2.3 billion ($1.7 billion), according to a cabinet minister.
The Montreal Port Authority announced earlier this week that it signed a development agreement for the new Contrecoeur terminal with logistics giant DP World Ltd.’s Canadian unit. The project aims to boost the container-handling capacity of the region’s port by more than 50%.
Dominic LeBlanc, Canada’s minister responsible for trade with the US and intergovernmental affairs, revealed the latest cost estimate at a news conference Thursday. He also said some private equity investors have committed financing to the expansion.
Previously, the cost had been estimated to be C$1.6 billion, with C$580 million in support from the Canadian and Quebec governments, along with the state-owned Canada Infrastructure Bank. More federal funds could be invested, LeBlanc added.
“One of the reasons why this project is so important for the government of Canada is that it is a mix of private and public investment that will make a significant contribution to the GDP of the country,” LeBlanc said.
Julien Baudry, an executive with the Montreal Port Authority, explained the project has evolved to “meet today’s standards” with electrified and low-carbon equipment.
“Obviously, this requires investment and will make us competitive,” he said. “There will be an update on the budget, but it’s still too early to confirm the financial package.”
LeBlanc made his appearance in Montreal to support the project. The new terminal was included in a list of projects announced Thursday that Carney’s government intends to expedite to boost Canada’s economy in response to US tariffs. The government also wants to speed construction of a major expansion of LNG Canada, a large-scale liquefied natural gas export project on the Pacific coast.
These projects will be referred to a new “major projects office,” which will help achieve any remaining regulatory approvals and secure the necessary financing.
The Contrecoeur terminal is awaiting a final authorization by Canada’s Fisheries Department, and construction could start by the end of the month. The major projects office will simplify and fast-track the next steps, the port authority said.
© 2025 Bloomberg L.P.
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12 September 20252 min readMontreal Port Project Backed Sees Cost Rise To $1.7 Billion
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12 September 2025
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Canadian Shipbuilder Davie Reveals Plans For $1B Icebreaker Factory In TexasDavie Defense Inc., the American arm of Canadian shipbuilder Davie, has revealed detailed plans for a $1 billion “American Icebreaker Factory” in Galveston, Texas, marking one of the largest expansions of U.S. shipbuilding capacity in decades.
The facility will be developed at the Gulf Copper shipyard, a historic site on Galveston’s waterfront, and will be purpose-built to deliver Arctic Security Cutters for the U.S. Coast Guard. Renderings show at least six new assembly bays, a reclaimed waterfront apron, and two new shiplifts replacing four of the yard’s existing finger piers.
Davie Defense said the investment is designed to meet the Trump administration’s shipbuilding priorities, including the Coast Guard’s urgent need for new polar vessels.
The new facility is being developed in partnership with Pearlson, a Florida-based specialist in shipyard design and program management, which has previously worked with BAE Systems, Austal USA, and Fincantieri Marinette.
Davie also highlighted the role of its Finnish subsidiary, Helsinki Shipyard, which has decades of experience in constructing advanced icebreakers. Helsinki has built many of Russia’s non-nuclear icebreakers and is currently producing Canada’s Polar Max, scheduled for delivery by 2030 as one of the world’s most powerful polar ships.
Executives said this expertise will be applied in Texas, noting that their proposed Arctic Security Cutter (ASC) design is already proven in seven ships. Davie Defense claims it can deliver the first ASC within 26 months of signing a contract.
The U.S. Coast Guard, backed by the One Big Beautiful Bill Act, has a $3.5 billion budget for medium icebreakers but must allocate it quickly. In April, the service issued a Request for Information for up to three ASCs that could be delivered within three years. The goal is to have the first ship in service before the end of President Donald Trump’s current term.
Currently, the U.S. has only three polar icebreakers, while Russia operates over 40, and China is quickly expanding its fleet.
The Coast Guard’s current Polar Security Cutter program at Bollinger Shipyards has faced major delays, with the first delivery now pushed to 2030, six years behind schedule.
Davie Defense projects the Galveston yard could directly employ more than 2,000 workers and support more than 7,000 jobs across Texas. An independent study by Impact Data Source estimates the overall economic impact at $9 billion. The company added that around 4,000 jobs nationwide could be created across its supply chain.
The project faces competition from a new consortium led by Louisiana-based Bollinger Shipyards. That group includes Finland’s Rauma Shipyard, Canada’s Seaspan Shipyards, and Aker Arctic Technology, and is also aiming to build the next generation of U.S. icebreakers.
Davie’s expansion in Texas follows its acquisition of Gulf Copper’s shipbuilding assets in Galveston and Port Arthur, a deal announced in June and expected to close soon. The company said it shares a long-term vision with Gulf Copper to turn Texas into a hub for advanced icebreaker and complex ship construction.
The initiative also supports the ICE Pact, a trilateral agreement signed in July 2024 by the U.S., Canada, and Finland to strengthen cooperation on icebreaker production and polar security. Davie’s Canadian operations have delivered more than 720 specialised ships since 1825, while Helsinki Shipyard has built over half the world’s icebreaker fleet.
A formal ceremony is planned in Texas this fall to mark the start of construction on the new facility.
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Marine Insight
port & ship
11 September 20254 min readCanadian Shipbuilder Davie Reveals Plans For $1B Icebreaker Factory In Texas
Marine Insight
11 September 2025
port-and-ship