Newsport-and-shipAsia Distillates: Window Deals Resurface Albeit At Lower Levels; East-West Spread Weighs
port-and-ship
Hellenic shipping news
Mar 14, 2025Asia Distillates: Window Deals Resurface Albeit At Lower Levels; East-West Spread Weighs
in General Energy News
14/03/2025
Asia’s middle distillates spot deals emerged on the trading window for the first time in more than a week, with paper market activity gaining momentum as well – though overall market sentiment turned bearish.
The weak east-west arbitrage window in the past week, in addition to talks of swing supplies coming back to Asia, weighed on markets today, two trade sources said.
The front-month east-west price spreads slipped to around $22 per metric ton, the narrowest level in two months.
Spot refiner sales for 10ppm sulphur gasoil slipped slightly back into discounted levels, multiple trade sources said, in comparison with last week’s flat to small premiums.
Jet fuel markets were overall weaker than expected as travel activities have been dismal globally, one trade source said, adding that U.S. demand for the aviation fuel is lower than expected.
“Global flight activity declines in US, China, and broader Asia region in March so far,” said JP Morgan analysts in a client note.
“In Asia, Chinese flights have eased to 104% of their 2019 volumes in March so far, after the conclusion of the New Year holidays, while flights in Asia excluding China have dipped below 100% of 2019 levels for the first time in three months,” they added.
Regional demand remains muted for now, despite ongoing cold snaps in some northeast Asian regions, though a pick-up could be imminent in end-March on some regional holidays.
Refining margins slipped to below $14 a barrel for the first time since end-January, as a reflection of the persistent weakness in gasoil markets and crude gains.
Cash differentials dipped as lower-priced offers turned plentiful in the open trading window, with
Regrade however narrowed slightly to a discount of 85 cents a barrel.
SINGAPORE CASH DEALS
– Two gasoil deals, no jet fuel deals
INVENTORIES
– U.S. crude oil stockpiles rose and fuel inventories fell last week as seasonal refinery maintenance season ticked along, the Energy Information Administration (EIA) said on Wednesday.
– Singapore’s middle distillates inventories slipped to below 11 million barrels despite declining net exports of both diesel and jet fuel, official data showed on Thursday.
REFINERY NEWS
– A scaffolding collapse on Wednesday at Chevron’s CVX.N Pasadena, Texas, refinery injured three workers, a Chevron spokesperson said in a statement.
NEWS
– Russia’s seaborne oil product exports in February fell 7.5% from January to 8.72 million metric tons, data from industry sources and Reuters calculations showed.
– India’s crude oil imports from Latin America and Africa rose marginally in February as refiners turned to alternative sources, fearing a loss of Russian oil supplies caused by tighter U.S. sanctions, data from trade sources shows.
– Global oil supply could exceed demand by around 600,000 barrels per day this year, the International Energy Agency said in a monthly oil market report on Thursday, after a downward revision to its 2025 demand growth forecast.
Source: Reuters
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shipping telegraph
Ships And Crew In Danger In Drug Threat Ports: BimcoThe world’s largest shipping association, BIMCO, warns of the risk of unwarranted arrests and severe prison sentences faced by crews when drugs are found on a ship in certain ports.
A number of Turkish ports, particularly on the Black Sea, have recently been drawing attention due to their lengthy legal processes and long sentences; 30 years in two cases, notes BIMCO, adding that it is aware of other ongoing criminal investigations in Türkiye and other countries, including Colombia.
“Limited understanding of merchant ship operations can lead judges to believe that hiding drugs onboard or attaching them to the ship’s hull is impossible without the crew’s knowledge,” BIMCO says, adding that the slow pace of legal procedures in certain countries can detain crew members and shipowners for many months.
According to BIMCO, lately, there have been instances where ships and their crews arriving from South and Central America have been detained seemingly without valid justification.
In two recent court cases, crew members were given very long prison sentences with judges concluding that hiding drugs onboard or attaching them to the ship’s hull is impossible without the crew knowing.
“Such instances are both concerning and surprising,” BIMCO highlights.
In many jurisdictions, drugs found on board or attached to the underwater hull would not be considered evidence connecting the crew to hiding the drugs on board their ship. “Unfortunately, and disappointingly, other jurisdictions take the opposite view,” it says.
With the increase in coca production, especially in Colombia, the maritime industry is increasingly targeted by drug smugglers looking for opportunities to get their product to market, typically in the U.S. or Europe.
All types of ships are at risk, and ports across South and Central America are exploited for smuggling purposes.
According to BIMCO, it is often incredibly difficult for the crew to completely prevent the ship from being used by drug smugglers.
However, it says there are measures that can be taken to reduce the risk, such as to provide education and regular briefings to crew on how smugglers operate, to undertake systematic searches of the ship and cargo in connection with port calls, including using sniffer dogs if available, and to increase vigilance during port stays e.g. locking doors and compartments of the ship during loading for areas not in use, deploying extra watchmen or extending the use of electronic surveillance such as CCTV.
By taking the above measures, BIMCO says, may reduce the risk, but they are by no means a guarantee that drugs will not be hidden onboard by smugglers.
“An exacerbating issue is the occasional complicity of law enforcement, port officials and security operators making it virtually impossible for the crew to ensure that no drugs are hidden on board or attached to the hull,” BIMCO explains.port-and-ship
14 March 2025
Hellenic shipping news
Dp World Reports Record Revenue Of $20.0 Billion And Ebitda Of $5.5 Billionin Port News
14/03/2025
DP World Limited has announced financial results for the year ended 31 December 2024. On a reported basis, revenue grew by 9.7% to $20.0 billion and adjusted EBITDA³ rose by 6.7% to $5.5 billion with an adjusted EBITDA margin of 27.2%.
Results Highlights
Revenue increased by 9.7% to a record $20.0 billion
Adjusted EBITDA increased by 6.7% to a record $5.5 billion
Profit for the year was $1.5 billion
DP World capacity exceeds 100 million TEU – continued investment in key growth markets
DP World focused on driving revenue synergies and building long-term relationships with cargo owners
Strong cash generation and lower net Leverage
Committed to long-term sustainability transition
Strong 2024 performance, positioned for resilient growth despite uncertainty
DP World Group Chairman and CEO, Sultan Ahmed bin Sulayem, commented:
We are proud to report record revenue of $20.0 billion and record EBITDA of $5.5 billion for 2024, a remarkable achievement given the complex geopolitical landscape. These results demonstrate the benefits of our strategic focus on high-margin cargo, end-to-end integrated supply chain solutions and disciplined cost optimization.
This strategy is positioning DP World for sustained long-term growth and value creation. By enhancing efficiency, expanding our capabilities and deepening partnerships, we are building a resilient business, well-equipped to capitalise on new opportunities as global trade evolves.
We continue to strengthen our logistics platform, attracting more cargo owners with end-to-end, tailored solutions that drive efficiency and improve the flow of trade. The increased demand for our integrated offerings highlights the value we bring to customers seeking optimized, high-performance supply chain solutions.
Our asset-appropriate strategy, combined with critical infrastructure in key markets, ensures that we scale efficiently while delivering specialized capabilities where they are needed most. Strategic investments in high-growth sectors and emerging trade corridors are expanding our expertise, enabling us to provide value-added solutions. By enhancing connectivity and streamlining supply chains, we are reinforcing DP World’s role as a leading trade enabler—helping cargo owners navigate complexity, go to market quicker and build greater supply chain resilience.
In 2024, we delivered a strong performance, further reinforcing our financial position by reducing net leverage and strengthening the balance sheet. While the year has started on a positive note, global trade remains in flux due to ongoing geopolitical challenges. We remain confident in the strength of our portfolio, which we expect to continue delivering robust performance.
As part of our long-term strategy, we continue to invest in our portfolio through targeted bolt-on acquisitions, expand into new locations and add high-value capabilities that align with our clients’ evolving needs. We maintain a positive medium-term outlook, supported by strong industry fundamentals and DP World’s ability to deliver sustainable, long-term returns.
Source: DP Worldport-and-ship
14 March 2025
Hellenic shipping news
D’Amico International Shipping Reports 2024 Net Profit Of $188.5 Millionin International Shipping News
14/03/2025
The Board of Directors of d’Amico International Shipping S.A., a leading international marine transportation company operating in the product tanker market, today examined and approved the Company’s draft 2024 full year statutory and consolidated financial results.
MANAGEMENT COMMENTARY
Carlos Balestra di Mottola, Chief Executive Officer of d’Amico International Shipping commented:
“I am proud to report another robust performance for DIS in 2024, with a consolidated net profit of US$188.5 million, closely trailing our record profit of US$ 192.2 million from the previous year. Our daily spot rate improved to US$ 33,871, surpassing 2023’s rate of US$ 32,873, reflecting continued strong demand for our services despite a still robust but less exuberant freight market later in the year. Furthermore, DIS successfully covered 41.5% of its employment days at an average daily TCE rate of US$ 27,420 in 2024, up from 29.8% at US$ 28,107 in the previous year. Consequently, our total blended daily TCE (spot and time- charter) was of US$ 31,195 in 2024, aligned with US$ 31,451 in 2023.
In 2024, DIS thrived in a vibrant freight market, driven by limited fleet growth, growing global oil trade, and numerous trade disruptions. Notably, incidents in the Red Sea and Gulf of Aden required us to reroute vessels around the Cape of Good Hope, significantly increasing travel distances. Additionally, the ongoing conflict in Ukraine and related EU sanctions reshaped oil trade flows, reducing Russian oil shipments to the EU while increasing exports to more distant locations such as Asia and South America, prompting Europe to source more oil from the US, the Middle East, and Asia. These changes significantly extended the average distances sailed by our product tankers.
Looking ahead, potential resolutions to the conflicts in Ukraine and Gaza could impact market dynamics. A peace agreement in Ukraine might lead to lifting of sanctions against Russia, and a resolution in Gaza could entail a normalization of Suez Canal transits, potentially reducing ton-mile demand for our vessels. However, we anticipate mitigating market factors, such as higher European imports of refined products from the Middle East and Asia if Suez Canal transits resume. Furthermore, a peace agreement in Ukraine might not entail a lifting of sanctions on Russia by Europe and should accelerate the scrapping of an ageing shadow fleet, helping to stabilize the market. Additionally, more stringent measures by the US on Iranian oil exports are likely to generate a replacement of the lost barrels from this country with oil from non- sanctioned countries, benefiting the VLCC market with positive spillovers for the other tanker sectors.
Geopolitical dynamics have undoubtedly shaped the freight market recently, yet the industry’s fundamentals remain robust and are poised to continue bolstering our market. Oil demand continues growing at a healthy clip of 0.9 million barrels per day in 2024, with the International Energy Agency (IEA) forecasting a further increase of 1.1 million barrels per day this year. Emerging markets, especially India and Brazil, are set to be significant contributors to this growth. In terms of products, while jet fuel dominated the demand increase last year, both naphtha and jet fuel are projected to be the key drivers in 2025. Refined product volumes also saw an increase, with global refinery throughput rising by 0.5 million barrels per day in 2024 to 82.7 million barrels per day, driven largely by robust refining activities in the United States and new capacity in the Middle East and Africa.
According to the IEA, crude throughput is expected to grow by an additional 0.6 million barrels per day in 2025 to 83.3 million barrels per day, supported by stronger non-OECD crude runs, though closures in the Americas and Europe may affect OECD volumes. This continuing trend of expansion in refinery capacity east of Suez should continue supporting ton-mile demand growth for our vessels.
On the supply side, newbuild orders for tankers rose significantly over the last two years, with the current orderbook for MRs and LR1s reaching 15.1% of vessels on water (measured in dwt), as at the end of February 2025. While vessel deliveries will accelerate from the second half of this year, they are spread over several years. Furthermore, considering the strong linkages between the different tankers sectors, the orderbook across all tankers (including product and crude carriers), which stands at a lower 13.4% of vessels on water, as at the end of February 2025, might provide a more reliable indicator of the market’s supply fundamentals.
Additionally, the fleet is also ageing rapidly, with 17.0% of the MR and LR1 fleet already over 20 years old (17.2% of the entire tanker fleet), and 51.0% over 15 years (41.3% of the entire tanker fleet), as at the same date. This ageing fleet will reduce fleet productivity and eventually lead to an increase in vessel demolitions, with an acceleration anticipated in case of a market downturn or a resolution to the conflict in Ukraine, which would severely limit employment opportunities for such older tonnage.
In 2024, with the objective of continuing to control a young and efficient fleet DIS was very active in the sale and purchase market. We began by selling the MT Glenda Melanie, a 2010-built MR and the oldest vessel in our fleet, at an attractive price of US$ 27.4 million. In April 2024, we also ordered four new LR1 vessels from a reputable Chinese shipyard, with deliveries expected in the second half of 2027. These highly efficient, environmentally friendly vessels will considerably strengthen our presence in the LR1 segment, which we anticipate will generate strong returns in the coming years. We also continue investing in new technological solutions and operational measures to make our vessels as efficient as possible. Additionally, also with the objective of rejuvenating our fleet, we exercised purchase options on four top-class vessels built in Japan, which we had been time-chartering-in since their construction. These acquisitions introduced modern and eco-friendly MR vessels into our owned fleet at a cost substantially below their current market value, further lowering our break-even costs.
Thanks to our robust financial structure, we could also focus on increasing shareholder returns through both share buybacks and dividends. In addition to an annual gross dividend of US$ 30.0 million distributed in Q2 2024, relating to the Company’s 2023 results, the Company paid an interim gross dividend of US$ 30.1 million in Q4 2024, and repurchased shares totaling US$ 10.3 million throughout the year. Today, DIS’ Board of Directors proposed an annual gross dividend distribution of around US$ 35.0 million to the upcoming Annual Shareholders’ Meeting, which would bring DIS’ total payout, combining gross dividends and share buybacks, to around 40% of the Company’s consolidated net result in 2024.
I extend my deepest appreciation to our teams, both at sea and onshore, whose dedication and professionalism underpins our achievements. I am also grateful to our shareholders for their steadfast trust and support. In recent years, we have diligently built a foundation for DIS’ continuing success. Through a modern and efficient fleet, a skilled and cohesive team, and a robust balance sheet, we are well equipped to confront future challenges and seize forthcoming opportunities, generating enduring value for our shareholders.”
Federico Rosen, Chief Financial Officer of d’Amico International Shipping commented:
‘‘DIS delivered another strong financial performance in 2024, reporting a net profit of US$ 188.5 million, closely approaching the record net profit of US$ 192.2 million in 2023. Our EBITDA for the year was of US$260.9 million, achieving an EBITDA margin of 70.2% on total net revenue, while our operating cash flow was robust at US$ 258.7 million.
Throughout 2024, we further solidified our financial structure, underpinned by strong cash flow generation. By the end of December 2024, our net financial position improved significantly to US$ 121.0 million, with cash and cash equivalents totaling US$ 164.9 million, compared to a net financial position of US$ 224.3 million at the end of 2023. Our financial leverage ratio, excluding IFRS 16 effects and calculated against our fleet’s market value, also saw substantial improvement, finishing the year at 9.7%, a marked reduction from 18.0% at the end of 2023 and 72.9% at the end of 2018. Leveraging our substantial liquidity and superior credit rating, we repaid several high-cost bank loans and secured new financing at more favorable terms, including significantly lower margins.
Despite the current uncertain geopolitical landscape, our robust balance sheet has been instrumental in allowing us to continuously deliver value to our shareholders through share buybacks and dividends. In 2024, we distributed a US$ 30.0 million dividend from 2023’s net earnings in the second quarter, followed by an interim gross dividend of US$ 30.1 million in the fourth quarter, and executed share repurchases totaling US$ 10.3 million. Today, we are pleased to announce that our Board of Directors has proposed for approval at the upcoming Annual Shareholders’ Meeting a gross dividend of US$ 0.2940 per issued and outstanding share (US$ 0.2499 net, after deducting the maximum applicable withholding tax of 15%), equivalent to approximately US$ 35.0 million, scheduled for payment in May 2025. We extend our heartfelt thanks to all our stakeholders, for their unwavering support. We remain optimistic about our future prospects and are committed to leveraging our financial strength to consistently generate substantial value and returns for our shareholders.”
Source: d’Amico International Shippingport-and-ship
14 March 2025
Hellenic shipping news
Fbi Agents Have Boarded Vessel Managed By Company Whose Other Cargo Ship Collapsed Baltimore Bridgein International Shipping News
14/03/2025
Federal agents have boarded a vessel managed by the same company as a cargo ship cargo ship that caused the deadly Baltimore bridge collapse, the FBI has confirmed.
In statements Saturday, spokespeople for the FBI and the U.S. Attorney’s Office in Maryland confirmed that authorities have boarded the Maersk Saltoro. The ship is managed by Synergy Marine Group.
“The Federal Bureau of Investigation, U.S. Environmental Protection Agency’s Criminal Investigation Division and Coast Guard Investigative Services are present aboard the Maersk Saltoro conducting court authorized law enforcement activity,” statements from both the FBI and U.S. Attorney’s Office said.
Authorities did not offer further specifics.
In a lawsuit Wednesday, the U.S. Justice Department has alleged that Dali owner Grace Ocean Private Ltd. and manager Synergy Marine Group, both of Singapore, recklessly cut corners and ignored known electrical problems on the vessel that had a power outage moments before it crashed into a support column on the Francis Scott Key Bridge in March.
The Justice Department is seeking to recover more than $100 million the government spent to clear the underwater debris and reopen the city’s port.
Darrell Wilson, a Grace Ocean spokesperson, did not immediately respond to a request for comment about agents boarding the Maersk Saltoro. He has previously said the owner and manager “look forward to our day in court to set the record straight” about the Justice Department’s lawsuit.
Source: The Associated Pressport-and-ship
14 March 2025
Hellenic shipping news
Oil Importers Stare At Costly Tanker Insurance Despite Fall In Red Sea Attacksin International Shipping News
14/03/2025
The insurance premium for merchant ships passing through the Red Sea remains firm despite a reduction in adverse incidents and is likely to stay that way for a long time, market participants in Seoul, Tokyo and Singapore said March 12.
Several key oil tanker companies have yet to resume moving their ships through the Bab al-Mandab Strait and the Suez Canal, they said.
“We will probably be the last among the lot to restart sending ships,” a source at a major oil tanker company said, citing the security risks involved in transiting the Red Sea.
The additional war risk premium (AWRP) in the Red Sea is currently around 0.5% of the hull and machinery (H&M) value of tankers for seven days and has not seen any major decline following the recent de-escalation in the Gaza war.
Meanwhile, Yemen has banned any ships linked to Israel, whether in ownership or cargo, from passing through not only the Red Sea but also the Arabian Sea. This implies that nearly the entire global merchant fleet is safe to make such transits, but few are choosing to do so.
“Our ships and crew are very dear to us, and we are not going to take this risk,” the source said.
Sources at three major oil tanker companies who spoke to Platts, part of S&P Global Commodity Insights, echoed a similar sentiment.
Longer voyages tighten supply and support freight rates. Although a clean tanker’s voyage to Europe from the Persian Gulf or India is shorter by 11-14 days compared with the route around the Cape of Good Hope, the freight rates are almost similar.
Clearlake has chartered an LR1 for around $2.8 million to move jet fuel on the Sikka-UK-Continent route, with the Suez Canal option freighted around $2.65 million, according to sources. While several fixtures now include the Suez Canal option, it is rarely exercised, they said.
Persian Gulf remains high-risk area
Maritime insurers in Asia pointed to the Persian Gulf and the Gulf of Oman, both of which have been designated as high-risk areas for over five years. In June 2019, the LR2 tanker Front Altair was attacked while transiting the Gulf of Oman.
Millions of dollars, involving hundreds of ships, have been paid out as AWRP since 2019 due to occasional violent incidents, even though the overall maritime situation in the region remains largely peaceful, chartering sources said.
“The [insurance] premium is not just about actual attacks but the risks involved,” a source with a tanker owner said.
Maritime insurance companies typically follow the HRA list provided by the Lloyd’s Market Association’s Joint War Committee.
If the relatively peaceful Persian Gulf is still classified as an HRA, it is nearly impossible for the Red Sea to “wriggle” out of this category, a maritime insurance executive said.
An underwriter said that the actual premium may decline slightly, but it is subject to negotiations. Currently, the AWRP for transiting the Persian Gulf is about half of what charterers have to pay for passing through the Red Sea, according to those directly involved in such deals.
How AWRP works
The AWRP is based on the valuation and age of a tanker, but there are “penny-pinching negotiations down to the last decimal,” a chartering executive said.
Companies with large fleets secure a discount of more than 50% off the prevailing rates, the executive said, adding that they are also allowed to split the premium and use the valid time duration across multiple voyages.
If a company has AWRP coverage for seven days as a percentage of the H&M value but only uses it for four days during transit, the amount is prorated lower, according to sources.
Large companies negotiate deals where the AWRP value as a percentage of H&M is not only lower but also valid for several weeks, insurers said.
This allows for multiple voyages — possibly two or even three — within that duration, say up to four weeks of transit time through the HRA, making transits more cost-effective for a specific AWRP value.
Lower freight premium
While the AWRP remains firm, improved security conditions have significantly reduced the premium that Red Sea loadings command over Persian Gulf loadings for deliveries to East Asia.
In 2024, the LR1 premium for the Yanbu-Japan route over the Persian Gulf-Japan route had reached w120, but market sources said it has now dropped to w45.
The MR premium for the same routes is now at w210, down w30 from the end of 2024, according to Platts data. Over the same period, the hefty $600,000 premium for crossing from the Red Sea into the Persian Gulf versus the Red Sea-Europe route has nearly disappeared, the data showed.
Source: Plattsport-and-ship
14 March 2025
Hellenic shipping news
'A Massive Ship Came Out Of The Blue': Sailor Recounts How North Sea Collision Unfoldedin International Shipping News
14/03/2025
For the crew onboard the Stena Immaculate, the cargo ship which was about to plough into them seemed to just “come out of the blue”.
Within seconds, fires began to break out. Soon the flames were tearing through the jet fuel-laden vessel, triggering several explosions.
More than 24 hours later, the other ship involved in the collision – the Solong – is still ablaze and drifting in the North Sea.
BBC News has spoken to eyewitnesses who have recounted how the crash and evacuation unfolded over 30 life-or-death minutes.
Crew jumped into action
The Stena Immaculate – which was carrying fuel on behalf of the US military – was anchored outside the port of Hull and almost entirely stationary when it was hit at 09:48 GMT on Monday.
An experienced American sailor who was on the oil tanker when it was struck gave CBS News, the BBC’s US partner, a first-hand account.
The sailor – who did not give his name as crew are not allowed to speak to the media – was standing close to the point of impact and had seconds to react.
He recalled hearing the shouts of his fellow crew members as they warned each other to brace.
It felt as though the Solong was driving into the side of the Stena Immaculate for 10 minutes, the sailor said.
Other crew members described how it appeared nobody was on the bridge of the Solong at the moment of the crash, he added.
An investigation into the cause of the collision has only just begun but the transport minister said it is clear something went “terribly wrong”.
Data from MarineTraffic appears to show the Solong was travelling at 16 knots (18 mph).
Flames immediately began erupting from the vessel, he said, and the crew jumped into action, putting on protective gear to battle the blaze.
“Everybody had only seconds to react”, the sailor said.
It was a “textbook” operation for the crew who had trained for a disaster like this.
Another sailor who was onboard the Stena Immaculate told BBC News he had been blindsided by the impact and described how the severity of the situation dawned on him.
“My eyes were locked on the flames… all I did was still pretty foggy,” he said.
“I looked down, I saw the containers. I looked up, and I briefly saw that it was a ship, and then [I saw] the fire.”
Reuters The burnt wreckage of the Stena Immaculate
That was when his training kicked in, he recounted, and he joined efforts to fight the flames.
But it did not take long before they realised battling the inferno was hopeless and their ship was a lost cause.
The decision was made to abandon.
Abandon ship
The Stena Immaculate’s crew ran to their cabins to get what they needed.
They grabbed emergency equipment and life jackets, before hurrying back to the pre-arranged mustering point.
A headcount was carried out to ensure they had all made it to the lifeboats.
As they climbed in, the fast-spreading flames were lapping at the sailors, creeping so close that they singed the hair of some of them.
All 23 sailors got off the oil tanker safely and made it back to shore.
The captain was the last to disembark.
On Monday evening, some of the Stena Immaculate crew were in a Grimsby supermarket shopping for clothes. One told BBC News he left the vessel with nothing but his wallet and phone.
Search and rescue
Less is known about how events unfolded on the Solong, a Portuguese-flagged cargo ship which was sailing from Scotland to the Netherlands when it struck the Stena Immaculate.
There were 14 crew members on board at the time, 13 of whom were brought back to shore.
Coastguard vessels and aircraft were scrambled to search for the missing sailor.
Lifeboats from Bridlington, Cleethorpes, Mablethorpe and Skegness joined response.
But around 12 hours later, with the North Sea in pitch dark, the search was called off and the working assumption is now that the missing sailor was killed in the incident.
His identity has not been publicly confirmed.
On Tuesday afternoon, police said a 59-year-old man had been arrested on suspicion of gross negligence manslaughter, and the ship’s owners subsequently confirmed the man was the Solong’s captain.
Meanwhile, the cargo ship was being held offshore by a tugboat in a safer position.
But, according to the coastguard, it continues to burn.
Source: BBCport-and-ship
14 March 2025
Hellenic shipping news
Asia Distillates: Window Deals Resurface Albeit At Lower Levels; East-West Spread Weighsin General Energy News
14/03/2025
Asia’s middle distillates spot deals emerged on the trading window for the first time in more than a week, with paper market activity gaining momentum as well – though overall market sentiment turned bearish.
The weak east-west arbitrage window in the past week, in addition to talks of swing supplies coming back to Asia, weighed on markets today, two trade sources said.
The front-month east-west price spreads slipped to around $22 per metric ton, the narrowest level in two months.
Spot refiner sales for 10ppm sulphur gasoil slipped slightly back into discounted levels, multiple trade sources said, in comparison with last week’s flat to small premiums.
Jet fuel markets were overall weaker than expected as travel activities have been dismal globally, one trade source said, adding that U.S. demand for the aviation fuel is lower than expected.
“Global flight activity declines in US, China, and broader Asia region in March so far,” said JP Morgan analysts in a client note.
“In Asia, Chinese flights have eased to 104% of their 2019 volumes in March so far, after the conclusion of the New Year holidays, while flights in Asia excluding China have dipped below 100% of 2019 levels for the first time in three months,” they added.
Regional demand remains muted for now, despite ongoing cold snaps in some northeast Asian regions, though a pick-up could be imminent in end-March on some regional holidays.
Refining margins slipped to below $14 a barrel for the first time since end-January, as a reflection of the persistent weakness in gasoil markets and crude gains.
Cash differentials dipped as lower-priced offers turned plentiful in the open trading window, with
Regrade however narrowed slightly to a discount of 85 cents a barrel.
SINGAPORE CASH DEALS
– Two gasoil deals, no jet fuel deals
INVENTORIES
– U.S. crude oil stockpiles rose and fuel inventories fell last week as seasonal refinery maintenance season ticked along, the Energy Information Administration (EIA) said on Wednesday.
– Singapore’s middle distillates inventories slipped to below 11 million barrels despite declining net exports of both diesel and jet fuel, official data showed on Thursday.
REFINERY NEWS
– A scaffolding collapse on Wednesday at Chevron’s CVX.N Pasadena, Texas, refinery injured three workers, a Chevron spokesperson said in a statement.
NEWS
– Russia’s seaborne oil product exports in February fell 7.5% from January to 8.72 million metric tons, data from industry sources and Reuters calculations showed.
– India’s crude oil imports from Latin America and Africa rose marginally in February as refiners turned to alternative sources, fearing a loss of Russian oil supplies caused by tighter U.S. sanctions, data from trade sources shows.
– Global oil supply could exceed demand by around 600,000 barrels per day this year, the International Energy Agency said in a monthly oil market report on Thursday, after a downward revision to its 2025 demand growth forecast.
Source: Reutersport-and-ship
14 March 2025
Hellenic shipping news
Outlook For Record Chinese Second-Quarter Soybean Imports May Ease Supply Tightnessin Dry Bulk Market,Freight News
14/03/2025
China is poised to receive record soybean imports in the second quarter, traders and analyst said, after delayed Brazilian shipments and slow customs clearances have caused supply tightness that forced several processors to halt operations.
The world’s largest soybean buyer is forecast to import a record high of 31.3 million metric tons of the oilseed in the April to June period, alleviating supply pressure from smaller arrivals expected during March, according to the average of forecasts from five research and trading firms.
That is a roughly 4.6% rise from 29.91 million tons imported during the second quarter of last year, as freshly harvested beans from Brazil’s bumper crop flow into China.
“South America soybean prices, particularly Brazilian new crop soybean, are more attractive than their counterpart, as such Chinese crushers have purchased rather large volumes of Brazilian new crop soybeans,” said Cheang Kang Wei, assistant vice president at StoneX in Singapore.
China’s recent supply squeeze stems from buyers avoiding U.S. beans amid concerns over a trade war with Washington, along with delays in Brazil’s harvest, the world’s biggest soybean producer.
Beijing retaliated last week against new U.S. tariffs by increasing duties on $21 billion worth of agricultural products, including soybeans.
“The soybean shortage during this period has been more widespread and severe, prompting a growing number of soybean mills across the country to halt operations,” said Liu Jinlu, agricultural researcher at Guoyuan Futures.
MARCH IMPORTS TO DROP
March imports are expected to shrink to a five-year low of 5.27 million tons, according to StoneX.
Chinese firms imported a record 105 million tons of soybeans in 2024, but high crush rates to meet livestock feed demand and stockpiling ahead of U.S. President Donald Trump’s January inauguration reduced inventories.
According to data from consultancy Mysteel, soybean inventory at Chinese ports shrank to 4 million tons by March 7, a decrease of 600,700 tons from the previous week and down from 892,500 tons from the same period last year.
“Soymeal stocks are pretty tight, which is reflected in prices but we expect the situation to ease from April,” said one oilseed trader in Singapore. “Prices of soybean products will come under pressure.”
The March soybean crush is forecast at 5.84 million tons, a 10.1% decline from February and a 19.1% from a year earlier, StoneX’s Cheang said.
Tight supplies have driven crush margins in processing hub of Rizhao to more than 450 yuan ($62.19) per ton. (CNSOY-RZO-MRG)
A slower pace of customs clearance at Chinese ports added to the supply squeeze.
China has in recent years increased the rate of quality inspections on imported soybean cargoes, lengthening clearing times and delaying discharge amid rising imports of the oilseed. Some shipments from the port to crushing plants can take between 20 and 25 days, up from 15 days typically, said a China-based trader.
Source Reutersport-and-ship
14 March 2025
Hellenic shipping news
India'S Crude Oil Imports Up 3% On Month In Jan-24, Net Petroleum Products Exports Ease Marginallyin Freight News
14/03/2025
Organization of Petroleum Exporting Countries or OPEC stated in a latest monthly report that India’s crude imports began the year averaging 4.9 mb/d. This represents an increase of 154 tb/d, or over 3%, m-o-m, but a decline of 159 tb/d, or about 3%, y-o-y. OPEC noted that in terms of crude imports by source, Kpler data shows Russia had a 33% share of India’s total crude imports in January, down from 38% in the previous month. Iraq was second with 21%, followed by Saudi Arabia with 14%.
For products, imports remained generally unchanged, m-o-m, averaging 1.2 mb/d. Declines in LPG and naphtha were broadly offset by higher inflows of fuel oil and other fuels. Y-o-y, product imports were up by 116 tb/d, or 10%. Product exports fell in January, dropping 73 tb/d, or 5%, m-o-m, but still averaging 1.4 mb/d due to rounding. Lower exports of products in the other category, along with declines in gasoline and fuel oil, drove the decrease, offset by a jump in diesel outflows. Y-o-y, product exports were up by 166 tb/d, or almost 14%. Net product exports from India eased in January, averaging 123 tb/d, compared with net exports of 195 tb/d the month before and net exports of 73 tb/d in January 2024.
Source: Capital Market – Live Newsport-and-ship
14 March 2025
Port Calls
Mactan-Cebu International Airport Named One Of Asia Pacific’S Best AirportsMactan-Cebu International Airport (MCIA) has been awarded as one of the best airports in Asia Pacific for the 5-15 million passengers per annum category in the 2024 Airport Service Quality (ASQ) Awards by the Airports Council International (ACI) World.
The annual ASQ Awards is presented to top performing ACI member airports, recognizing their excellence in customer experience based on direct passenger feedback. AIC represents the collective interests of airports around the world to promote excellence in the aviation industry.
The Best Airports by Size and Region award—to which MCIA was one of the recipients for 2024—recognizes airports with the top 20% overall satisfaction score by size and region at departure.
Another category is the Arrivals Award, which is given to airports with the top 20% overall satisfaction score at arrival/ Categories that recognize the top 5% of airports by region include Most Dedicated Staff, Easiest Airport Journey, Most Enjoyable Airport, and Cleanest Airport.
The winners were announced on March 10.
“I am tremendously grateful to the MCIA team for delivering to its promise of excellence in customer experience,” Athanasios Titonis, chief executive officer of MCIA operator Aboitiz InfraCapital Cebu Airport Corp. (ACAC), said in a statement.
“We had been working hard in ensuring we bring world-class airport experience and elevate the perception of airports in the Philippines. This win is key in our vision of becoming the main Tourism and Transfer Gateway in the country,” Titonis added.
ACAC said being recognized as an ASQ Award winner is a “remarkable honor for MCIA, reaffirming its status as one of the world’s best airports—where passengers always come first.”
For his part, Julius Neri, general manager of MCIA regulator Mactan-Cebu International Airport Authority, said: “We have always been proud of what MCIA has accomplished and how it brings pride to Cebuanos. Now, it has brought pride beyond Cebu but also for the entire Philippines. We share this award to all stakeholders and partners who had been instrumental in making this happen.”
ACI World director general Justin Erbacci, meanwhile, said “Flying through MCIA is more than just a journey; it’s a carefully crafted experience. Their success in the Airport Service Quality Awards highlights the team’s ability to make every passenger’s trip memorable and enjoyable.”
Last year, MCIA catered to 8.5 million domestic passengers, 2.8 million international passengers, around 67 million kilograms of cargo, and 99,100 flights.
Its 2.56-kilometer alternate runway was officially inaugurated last January and is designed to meet increasing air traffic demand and accommodate passenger and cargo volumes.port-and-ship
14 March 2025Port Calls
Integrated Micro-Electronics Eyes Expansion To Logistics, Warehousing Support ServicesIntegrated Micro-Electronics, Inc. (IMI) is eyeing to provide logistics and warehousing support services.
Electronics manufacturing services (EMS) provider IMI is amending its Articles of Incorporation to allow the company to provide additional services such as warehousing/logistics support services, particularly importation/procurement, storage, deposit, inventory management of goods for subsequent sales, transfers or dispositions to clients, interested establishments, agencies and/or export enterprises.
In a regulatory disclosure, IMI said its Board of Directors in a regular meeting on March 7 approved the amendment to the second article of the company’s Articles of Incorporation to include in the primary purpose the said activities.
It said the rationale for the amendment is to “consider the additional activities for potential future transactions other than purely manufacturing and to accommodate requests from customers.”
The amendment is still subject to the approval of stockholders during the annual meeting scheduled on April 22, 2025.
The electronics manufacturing subsidiary of Ayala Corp., IMI is a global electronics manufacturing solutions provider specializing in highly reliable and quality electronics for long product life cycle segments in the automotive, industrial, power electronics, communications, and medical industries.
It has 19 manufacturing plants across nine different countries providing engineering, manufacturing, and support and fulfillment capabilities to diverse industries globally.
To align with shifting market dynamics and to position the company for sustainable profitability, IMI last year undertook a comprehensive restructuring initiative.
READ: IMI, Zero’s electric motorcycles headed for EU marketport-and-ship
14 March 2025Bunker Port News Worldwide
Argentina Sticking With Single Lng Import Terminal This Winter, Excelerate Exec SaysArgentina has not requested an additional floating regasification plant from Excelerate Energy EE for the winter to come, a company executive said, as the South American country plans lower imports of liquefied natural gas this year.
Derek Wong, Excelerate’s vice president of government relations, told Reuters on the sidelines of the CERAWeek conference in Houston that the floating storage and regasification unit (FSRU) the company has in service, the only import facility in Argentina, might be enough to meet demand again this year, depending on weather conditions.
Costly LNG imports have been a problem for Argentina in the past, but increasing domestic output of natural gas has allowed lower imports of gas via pipeline from Bolivia and also of LNG cargoes in recent years.
Argentina’s Economy Vice Minister and Head of Energy Daniel Gonzalez said earlier this week at the conference that the country this year would import fewer LNG cargoes than last year, but declined to elaborate on figures.
Cold winters in the Southern Hemisphere typically increase gas consumption in Argentina, sometimes creating the need to put another FSRU in service.
Last year, only one FSRU was needed to import 30 LNG cargoes during the winter, while in the two previous years between 41 and 44 cargoes were imported through FSRUs at Bahia Blanca and Escobar.
Following President Javier Milei’s economic reforms, Argentina last year had a $5.7 billion surplus at its energy trade balance, a big achievement for a country that had struggled to cover the cost of energy imports in previous years.
Source: Reutersport-and-ship
14 March 2025Bunker Port News Worldwide
India’S Crude Oil Imports Up 3% On Month In Jan-24, Net Petroleum Products Exports Ease MarginallyOrganization of Petroleum Exporting Countries or OPEC stated in a latest monthly report that India’s crude imports began the year averaging 4.9 mb/d. This represents an increase of 154 tb/d, or over 3%, m-o-m, but a decline of 159 tb/d, or about 3%, y-o-y. OPEC noted that in terms of crude imports by source, Kpler data shows Russia had a 33% share of India’s total crude imports in January, down from 38% in the previous month. Iraq was second with 21%, followed by Saudi Arabia with 14%.
For products, imports remained generally unchanged, m-o-m, averaging 1.2 mb/d. Declines in LPG and naphtha were broadly offset by higher inflows of fuel oil and other fuels. Y-o-y, product imports were up by 116 tb/d, or 10%. Product exports fell in January, dropping 73 tb/d, or 5%, m-o-m, but still averaging 1.4 mb/d due to rounding. Lower exports of products in the other category, along with declines in gasoline and fuel oil, drove the decrease, offset by a jump in diesel outflows. Y-o-y, product exports were up by 166 tb/d, or almost 14%. Net product exports from India eased in January, averaging 123 tb/d, compared with net exports of 195 tb/d the month before and net exports of 73 tb/d in January 2024.
Source: Capital Market – Live Newsport-and-ship
14 March 2025Splash 247
Us Could Bar Ships From Countries Seen To Be Creating Maritime ChokepointsIn the latest maritime bombshell coming out of Washington DC, the Federal Maritime Commission, the country’s shipping regulator, has warned it might bar entry to ships from countries found to be causing choke points at key locations around the world.
The FMC yesterday opened an investigation into transit constraints at international maritime chokepoints, particularly concerning the effects of the laws, regulations or practices of foreign governments, and the practices of owners or operators of foreign-flag vessels, on shipping conditions in these chokepoints.
The shipping passages under investigation are the English Channel, the Malacca Strait, the Northern Sea Passage, the Singapore Strait, the Panama Canal, the Strait of Gibraltar, and the Suez Canal.
“Remedial measures the Commission can take in issuing regulations to address conditions unfavourable to shipping in U.S. foreign trade include refusing entry to U.S. ports by vessels registered in countries responsible for creating unfavourable conditions,” the FMC warned yesterday.
In the 53 days since Donald Trump returned to power in the Washington DC, the global trading order has been torn up, with the new administration lashing out with tariffs, claims on the Panama Canal, and plans to charge Chinese-built ships calling in US among a string of policies that have unsettled world trade.
“As the Trump 2.0 reality show unfolds, as it does daily, often with singular market-moving tweets, we might as well suspend trying to make credible forecasts of future supply-demand balance across shipping sectors. Underwhelming spot earnings render shipping sentiment downbeat while we seek greater clarity on today’s geopolitical, trade and social threats,” noted a recent report from broker Hartland Shipping.port-and-ship
14 March 2025Splash 247
Beijing Blasts Sale Of Hutchison PortsCK Hutchison’s share price plunged today in Hong Kong following Beijing’s public criticism of its plans to sell the majority of its ports division to BlackRock and Mediterranean Shipping Co (MSC) for $22.8bn, bringing into question whether the transaction, the largest ports deal in history, will be completed.
Hong Kong tycoon Li Ka-shing’s company CK Hutchison should think twice about which side it wants to stand with, according to a scathing newspaper commentary posted last night by Beijing’s top office for the city’s affairs on its website.
Citing criticisms calling the deal a “betrayal of all Chinese people”, the commentary was first published by pro-Beijing publication Ta Kung Pao and shared in full by Beijing’s Hong Kong and Macau Affairs Office on its official website yesterday.
With the return of Donald Trump to the White House there had been pressure on Hong Kong’s CK Hutchison to sell its two port holdings in Panama, and with growing trade wars brewing, the conglomerate decided last week the time had come to step back from an industry it was the original global pioneer in.
CK Hutchison’s co-managing director Frank Sixt claimed last week: “This transaction is the result of a rapid, discrete but competitive process in which numerous bids and expressions of interest were received.” He described the transaction valuation as “compelling”.
The Ta Kung Pao article, which is dominating headlines in Hong Kong today, described 96-year-old Li’s deal as a “hegemonic act” by the US using its national power to encroach on the legitimate rights and interests of other countries through “despicable means” such as coercion, pressure and inducement.
“This is exactly why some internet users have generally questioned and criticised the deal by CK Hutchison Holdings,” the commentary read.
“They believe it is kneeling down, a mercenary act which disregards national interests and national justice, betrays and sells out all Chinese people. These emotional expressions of internet users are completely understandable.”
CK Hutchison has yet to comment on the Ta Kung Pao article, and the conglomerate’s commitment to sell to US-controlled BlackRock.
Since returning to power on January 20, Trump has focused considerable energies targeting China’s maritime dominance not just in ports, but also in shipbuilding with the new administration mulling a series of taxes for Chinese-built ships calling at US ports.port-and-ship
14 March 2025container news
Aal Shipping Expands Super B-Class Vessel FleetAAL Shipping (AAL) has officially named its fifth Super B-Class vessel, the AAL Dubai, in a ceremony held on 12 March at the CSSC Huangpu-Wenchong Shipyard in Guangzhou, China.
This milestone celebrates both AAL’s 30th anniversary and its continued commitment to innovation in global project shipping.
The 32,000 dwt AAL Dubai, a state-of-the-art, methanol-ready multipurpose heavy lift vessel, is designed to transport diverse cargo, including heavy lift project equipment, breakbulk, and dry bulk. With a combined lifting capacity of 700 tonnes, it delivers superior efficiency, flexibility, and economies of scale.
Named after Dubai, a key project cargo hub where AAL has maintained a regional office since 2015, this event follows the Breakbulk Middle East exhibition, where industry leaders discussed the region’s expanding infrastructure and energy projects.
“The Middle East market is going from strength to strength for the project sector, last year enjoying unprecedented levels of capital expenditure across all industries,” stated Liew Teck Liong, Chief Financial Officer at AAL.
“In 2024 alone, a record-breaking US$264 billion worth of contracts were awarded – a 6.5% increase from the previous year. Naming one of our new Super B-Class vessels after Dubai underscores our dedication to the region, aligning with both the 10th anniversary of our Dubai office and the 30th anniversary of the company.”
The AAL Dubai now joins sister vessels AAL Limassol, AAL Hamburg, AAL Houston, and AAL Antwerp on global project cargo routes across Asia, Europe, the Middle East, and the Americas.
“We are now over the halfway mark with our Super B-Class deliveries, and those already in service are exceeding our expectations,” added Liew. “With these vessels, we have achieved both company and industry firsts, and we look forward to redefining what a heavy lift, multipurpose vessel can accomplish as we deploy them for complex cargo challenges.”
Later this year, AAL will welcome the AAL Dammam, followed by the AAL Newcastle and AAL Mumbai, both featuring an increased maximum heavy lift capacity of 800 tonnes.port-and-ship
13 March 2025marine link
Chinese Maritime Threat Has Australia Investing In Anti-Ship MissilesAustralia is scrambling to deploy new long-range missiles as the recent arrival of powerful Chinese warships off the Australian coast delivers a sharp reminder of Beijing’s growing naval muscle.
In a move to boost military firepower, Canberra plans to arm Australian soldiers with anti-ship missiles and advanced targeting radars to protect the country’s vast maritime approaches, according to contract announcements as well as a flurry of recent official speeches and ministerial statements.
Two new types of advanced anti-ship missiles for the army fired from mobile launchers are under evaluation with a decision expected by the end of the year, the government has said.
Australian government officials have said that future versions of one of the contenders, Lockheed Martin’s Precision Strike Missile, were expected to have a range of up to 1,000km and could be fired from High Mobility Artillery Rocket System (HIMARS) launchers. Australia has 42 HIMARS launchers on order from the United States, with launchers expected to be in service from 2026-27, according to the defense department.
The U.S. Army in June used two Precision Strike Missiles to successfully attack a moving target at sea during an exercise in the Pacific, the army said in a statement.
China’s People’s Liberation Army Navy (PLAN) jolted Australia’s security services with the deployment of three warships – one of its most potent cruisers, a frigate and a replenishment ship – close to the country’s biggest cities of Sydney and Melbourne late last month. Air traffic between Australia and New Zealand was disrupted with 49 flights diverted on February 21 when the Chinese flotilla held what appeared to be a live fire exercise in the Tasman Sea without notifying authorities in Canberra or Wellington.
The new missiles for the Australian army would deliver a potent strike capability and act as a deterrent to potential adversaries, according to Mick Ryan, a retired Australian army Major General.
“You could put a HIMARS launcher with a maritime strike missile in Sydney and it would have the potential to hit one of those ships,” Ryan said.
New missiles for the Australian army are a key element of Canberra’s plan to prepare for a more assertive Chinese military presence in waters around Australia. They could also be deployed to support allied forces defending strategically important islands in the Asia-Pacific region in the event of conflict, military experts told Reuters.
New long-range missiles are also on order for Australia’s navy and air force.
To counter what senior Australian officials describe as the “greatest strategic uncertainty” since World War Two, Canberra will spend up to $47B over a decade on targeting technology, long-range strike capacity, missile defense and manufacturing of missiles and explosives, according to official speeches and defense planning documents.
Canberra is not alone turning to these long-range strike weapons to counter the threat from China. The U.S. and most of its key allies in Asia, including the Philippines, Japan, South Korea and Taiwan, are also modernizing and expanding their missile forces. They are deploying new missiles, accelerating research on hypersonic weapons and other new technologies, re-purposing older projectiles and expanding production lines.
Asked how China viewed the decision by Australia and other countries to boost their missile arsenals, a foreign ministry spokesperson said Beijing was pursuing “a defensive national defense policy,” and China shouldn't be used “as an excuse to exaggerate tensions" and "incite arms races.”
For some of America’s regional allies, this quest for new missiles is likely to take on new urgency with growing uncertainty over the Trump administration’s commitment to traditional security ties, according to Ross Babbage, a former Australian government defense official and now a senior non-resident fellow at the Washington-based Center for Strategic and Budgetary Assessments.
In response to questions from Reuters, a Pentagon spokesperson cited Defense Secretary Pete Hegseth as having said that deterring China was a priority for his department. “One of the ways we do that is by building and maintaining a strong network of allies and partners in the Indo-Pacific,” said Pentagon press secretary John Ullyot. “There should be no doubt to our commitment to the safety and stability of the region.”
Allies like Australia with modest defense outlays are already under pressure from a Trump administration that is showing open frustration with countries it believes should be spending more.
U.S. President Donald Trump’s nominee for Under Secretary of Defense for Policy, Eldridge Colby, told his Senate confirmation hearing earlier this month that Australian defense spending was well below the target of 3% of GDP suggested by NATO leadership for its members. He said Canberra faced a far more powerful challenge from China.
Australia currently spends about 2% of GDP on defense. Some critics of Australia’s defense spending say successive governments have allowed urgent military programs to languish, including the introduction of new missiles.
“This deserves a high degree of priority,” said Babbage, referring to the deployment and manufacture of missiles. “We ought to be really turbo-charging this.”
Babbage said if there was conflict in the Indo-Pacific region, it was likely to become protracted and allied forces would need deep stocks of missiles and the capacity to produce more.
Security officials in Canberra anticipate that Chinese warships will become regular visitors off the Australian coast and in bigger numbers. And, like the fleet that exercised off Australia’s coast, these exercises would test Canberra’s political resolve and the surveillance capabilities of the Australian military.
Australia’s Director General of National Intelligence, Andrew Shearer, told a parliamentary inquiry on February 24 that some of the Chinese fleet’s activities seemed “designed to be provocative,” while acknowledging it had complied with international law.
Shearer said that after the biggest and least transparent military build-up since the Second World War, China now had the capability to project military power into Australia’s region and intended to do so more often.
China has "repeatedly briefed" about its naval exercises, the foreign ministry spokesperson said. These exercises are “fully in line with international law and international practices,” the spokesperson said.
Canberra’s embrace of missiles echoes that of earlier military planners in Beijing. Decades ago, when the PLA was a backward ground force with obsolete weapons, it began to build a massive missile force as the cheapest and fastest way to bridge the gap with the U.S. and its allies.
Missiles are relatively cheap but pose a deadly threat to high-value targets such as warships, strike aircraft, military bases and logistics centers. This makes these weapons a natural choice for weaker militaries confronted with much stronger adversaries.
Now that China can rival American military power in Asia, outgunned regional rivals are following the same blueprint. A key objective of this allied response is the deployment of longer-range missiles that match or exceed the reach of those in the PLA arsenal.
In December, Canberra announced it would choose either the Naval Strike Missile, developed by Norway’s Kongsberg Defence & Aerospace, or Lockheed’s Precision Strike Missile for two new army regiments tasked with maritime defense. U.S. Marines in the Indo-Pacific region are already using the Naval Strike Missile fired from a ground-based launcher.
In early January, the government announced a contract of more than AUD$100 million ($63 million) for Thales Australia to deliver 40 command and control vehicles for the new missile regiments.
To detect threats, the army’s missile regiments will be equipped with new radars. Last month, Canberra ordered up to 14 multi-mission phased-array radars from Canberra-based CEA Technologies in a contract worth AUD$272 million.
One of the advantages of these land-based mobile missile systems is that they can be easily dispersed and concealed but still pack the punch of a much more expensive warship and strike aircraft.
“It’s a truck,” said Ryan. “You can park it under a tree and come out to fire it and move back again. They won’t find you.”
(Reuters)port-and-ship
13 March 2025marine link
U.S. Sanctions: Second Tanker Moored Near Syrian PortA second tanker under U.S. sanctions is moored near the Syrian port of Banias and may deliver a diesel cargo from Russia, data shows, as Moscow and Damascus strengthen ties.
Moscow backed former Syrian autocrat Bashar al-Assad during more than a decade of civil war in Syria, but wants to improve relations with the new interim leader, Ahmed al-Sharaa, as Russia wants to retain the use of its two military bases in the country.
According to LSEG data, the Barbados-flagged Proxima, with around 30,000 metric tons of diesel departed from Primorsk in February and is drifting near Banias, as it waits to discharge its cargo.
The Proxima was placed under U.S. sanctions on January 10, along with around 180 other vessels.
Last week, the tanker Prosperity, also under U.S. sanctions, arrived in Syria's coastal waters, carrying about 37,000 metric tons of diesel loaded in the Russian Baltic port of Primorsk.
Both tankers turned off their ship tracking devices on arrival, concealing their operations, shipping data shows.
Recently, Syria received a new shipment of its local currency printed in Russia and more shipments were expected in the future in another sign of improving ties between Moscow and Syria's new rulers.
Western countries, including the U.S., EU and Britain are also easing sanctions pressure on Syria.
(Reuters)port-and-ship
13 March 2025Hellenic shipping news
China’S Shipbuilding Dominance Poses Economic And National Security Risks For The Us, A Report Saysin Shipbuilding News
13/03/2025
In only two decades, China has grown to be the dominant player in shipbuilding, claiming more than half of the world’s commercial shipbuilding market, while the U.S. share has fallen to just 0.1%, posing serious economic and national security challenges for the U.S. and its allies, according to a report released Tuesday by the Center for Strategic and International Studies.
In 2024 alone, one Chinese shipbuilder constructed more commercial vessels by tonnage than the entire U.S. shipbuilding industry has built since the end of World War II. China already has the world’s largest naval fleet, the Washington-based bipartisan think tank said in its 75-page report.
“The erosion of U.S. and allied shipbuilding capabilities poses an urgent threat to military readiness, reduces economic opportunities, and contributes to China’s global power-projection ambitions,” the report said.
Concerns about the poor state of U.S. shipbuilding have been growing in recent years, as the country faces rising challenges from China, which has the world’s second largest economy and has ambitions to reshape the world order. At a congressional hearing in December, senior officials and lawmakers urged action.
Last week, President Donald Trump told Congress that his Republican administration would “resurrect” the American shipbuilding industry, for commercial and military vessels, and he would create “a new office of shipbuilding in the White House.”
“We used to make so many ships,” Trump said. “We don’t make them anymore very much, but we’re going to make them very fast, very soon. It will have a huge impact.”
In February, the heads of four major labor unions called on Trump to boost American shipbuilding and enforce tariffs and other “strong penalties” against China for its increasing dominance in that sector.
“What we are seeing now is a recognition of the strategic significance of shipbuilding and port security, and the related challenges posed by China,” said Matthew Funaiole, a senior fellow in the China Power Project at CSIS and a co-author of the report. Funaiole said concerns over shipbuilding are “a fairly bipartisan issue.”
The report said that China’s shipbuilding sector went through “a striking metamorphosis” in the past two decades, transforming from a “peripheral player” to the dominant player on the global market, with efforts centered on one state-owned enterprise: China State Shipbuilding Corporation, or CSSC.
At the same time, China has greatly expanded its navy. Last year, a CSIS assessment found that China was operating 234 warships, compared with the U.S. Navy’s 219, although the U.S. continued to hold an advantage in guided missile cruisers and destroyers.
In developing recommendations for the U.S. to compete with China, the researchers zoomed in on the Chinese company’s use of Beijing’s “military-civil fusion” strategy, which blurs the lines between the country’s defense and commercial sectors.
They found that CSSC, which builds both commercial and military ships, sells three-quarters of its commercial production to buyers outside China, including to the U.S.-allied Denmark, France, Greece, Japan and South Korea. These foreign firms are thus funneling billions of dollars to Chinese shipyards that also make warships, advancing China’s modernization of its navy and providing Chinese defense contractors with key dual-use technology, the report said.
The CSIS researchers suggested that, as a long-term fix, the U.S. should invest in rebuilding its shipbuilding industry and work with allies to expand shipbuilding capacities outside China. For the near term, they recommended actions to level the playing field and “disrupt China’s murky dual-use ecosystem,” such as by charging docking fees on Chinese-made vessels and cutting U.S. financial and business ties with CSSC and its subsidiaries.
The Trump administration has proposed new fees on China-linked vessels calling on U.S. ports. A BlackRock-led consortium last week agreed to acquire stakes in 43 ports across the globe, including the two ports on either side of the Panama Canal, from a Hong Kong-based conglomerate.
Source: APport-and-ship
13 March 2025Hellenic shipping news
Imo: Statement On The Loss Of Seafarers In The Attack On A Merchant Ship In Odesain International Shipping News
13/03/2025
Secretary-General of the International Maritime Organization, Mr. Arsenio Dominguez, has issued a statement following an attack in Odesa on 11 March:
“I am deeply saddened to hear of the tragic loss of seafarers in the recent attack in Odesa, which has claimed the lives of four seafarers. My thoughts and condolences are with the families and loved ones of those who have lost their lives, as well as those who were injured.
Seafarers ensure the continuous flow of essential goods that sustain communities worldwide. They must never become targets in conflicts beyond their control. We must reaffirm our collective commitment to their safety and well-being.
I reiterate my call to all parties involved to work together to ensure that such acts of violence against innocent seafarers and shipping do not continue. International shipping should never become a casualty in the broader geopolitical landscape.
The IMO remains committed to supporting efforts to improve the safety of all those who work in the global maritime industry.”
Source: IMOport-and-ship
13 March 2025