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25 March 2025
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Mar 25, 2025Sea news
Cobalt Wine Logistics LLC (Cobalt), a leader in international alcohol logistics, has announced its acquisition of North Coast Logistics, Inc. (NCL), a prominent domestic wine consolidation and distribution company. This strategic move will enhance Cobalt’s logistical solutions and further bolster its position in the wine and spirits storage and transportation industry.
Founded by Tammie and Travis Pisors, NCL has been in operation for 25 years, providing over-the-road services from its headquarters in Petaluma, California. The acquisition merges NCL’s expertise in domestic transportation with Cobalt’s international logistics, allowing the combined organisation to deliver seamless, end-to-end transportation solutions. These solutions will cover both eastbound and westbound routes, resulting in greater efficiencies and improved service offerings for clients across the industry.
George McGowen, President of Cobalt Wine Logistics, expressed his excitement about the acquisition, stating, “NCL’s distribution services are a perfect complement to our Intermodal logistics portfolio, enabling us to offer even more comprehensive services to our clients.” Working with Tammie and Travis over the years, we recognised the immense potential in combining our strengths. This collaboration will foster innovative solutions that will benefit the entire industry.”
Tammie Pisors, President of North Coast Logistics, echoed the sentiment, saying, “This partnership opens up numerous opportunities for our clients by leveraging Cobalt’s international capabilities and advanced demand planning tools. The synergies between our companies will drive substantial value, providing enhanced services across both coasts.”
With the acquisition, Cobalt’s Napa-based warehouse will become the primary storage and sorting facility for NCL’s clients, giving them access to Cobalt’s international logistics services, demand planning tools, and a broader range of service options. This integration will also strengthen Cobalt’s customer base, positioning the company as a leading logistics provider for the alcoholic beverage industry along both U.S. coasts.
Through this strategic move, Cobalt continues to build its capacity to serve the wine and spirits sector, offering an even more robust suite of logistics services from production to distribution, ensuring its clients receive unmatched service and operational efficiencies.
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Golar Lng Limited Announces Proposed Offering Of $500 Million Of Convertible Senior Notes Due 2030Golar LNG Limited announces today that it intends to offer, subject to market and other conditions, $500 million aggregate principal amount of Convertible Senior Notes due 2030 (the “Notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company also intends to grant the initial purchasers of the Notes a 30-day option to purchase up to an additional $75 million aggregate principal amount of the Notes in connection with the offering.
In connection with the offering of the Notes, certain of the Company’s directors and officers have provided an indication of interest to purchase the Company’s common shares from investors in the offering of the Notes, and certain entities controlled by or affiliated with the Company’s directors have provided an indication of interest to purchase Notes at the initial offering price.
The Notes will be senior, unsecured obligations of the Company, pay interest semiannually in arrears on June 15 and December 15, mature on December 15, 2030, and be convertible into the Company’s common shares, cash, or a combination of shares and cash, at the Company’s election.
The Company intends to use the net proceeds from the sale of the Notes (including any Notes sold pursuant to the initial purchasers’ option to purchase additional Notes, if exercised) to repurchase up to 2.5 million of the Company’s common shares in connection with the offering of the Notes and for general corporate purposes, which may include, among other things, future growth investments including a contemplated fourth FLNG unit, MKII FLNG conversion costs, FLNG Hilli redeployment costs, repaying indebtedness, and funding working capital and capital expenditures.
IMPORTANT INFORMATION
This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any jurisdiction in which, or to any person to whom, such an offer, solicitation or sale would be unlawful. Any offer of the Notes will be made only by means of a private offering memorandum.
The Notes and the shares of common stock issuable upon conversion of the Notes have not been, and will not be, registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold absent registration or an applicable exemption from registration requirements under the Securities Act and applicable state securities laws.
This announcement contains information about a pending transaction and there can be no assurance that this transaction will be completed.
Source: Golar LNG
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27 June 20253 min readGolar Lng Limited Announces Proposed Offering Of $500 Million Of Convertible Senior Notes Due 2030
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Port Of Long Beach Approves $833 Million BudgetThe Long Beach Board of Harbor Commissioners has approved an $833 million budget for fiscal year 2026, nearly half of which will go toward infrastructure projects that reinforce the port’s leadership in sustainable, efficient cargo movement.
The budget will be submitted to the Long Beach City Council later this year for final approval.
Key highlights include a $405.4 million capital improvement allocation, representing 48.7% of total spending. Of this, $208.8 million is earmarked for the Pier B On-Dock Rail Support Facility, a transformative project aimed at shifting more cargo to rail, reducing truck traffic, and lowering emissions.
The Pier B project, which broke ground in July 2024, is scheduled for completion in 2032.
The budget also includes a $25.3 million transfer to the City’s Tidelands Operating Fund, which supports community and environmental enhancements along the city’s 7-mile coastline, such as shoreline safety, water quality, and public facilities.
Despite global trade uncertainties and a conservative 1.9% projected drop in operating revenue, the port is maintaining a strong financial position.
The 9.5% year-over-year increase in budgeted spending reflects the port’s continued commitment to modernization and sustainability, including support for the Zero Emissions, Energy Resilient Operations Policy, which advances the use of zero-emissions equipment and vehicles.
The Port of Long Beach plans to invest $3.2 billion in infrastructure improvements over the next decade, supporting both growth and environmental stewardship.
Additionally, the Board approved an increase in its scholarship fund, raising the annual allocation from $350,000 to $400,000, reinforcing its commitment to education and workforce development in the region.
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25 June 20252 min readPort Of Long Beach Approves $833 Million Budget
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25 June 2025
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Cargo Throughput Going Through Three Gorges Dam Ship Lock Reaches 2.24 Billion TonsThe cumulative cargo throughput of the ship locks of the Three Gorges Dam, part of the world’s largest hydropower project, has reached 2.24 billion tons, a milestone in China’s inland waterway transportation, according to data on Wednesday.
Since its opening to navigation in 2003, the Three Gorges Dam ship locks have operated safely and efficiently, improving navigation on the Yangtze River. Over the past 22 years, they have recorded a cumulative freight volume of 2.24 billion tons, 215,000 lock operations, more than 1.074 million cargo vessels, and more than 12.291 million passengers, according to data from the Three Gorges Navigation Authority.
These achievements demonstrate the efficiency of the ship locks and highlight their vital role in maximizing the economic benefits of the Yangtze River’s “golden waterway,” CCTV News reported.
The ship locks are part of the Three Gorges project, a multi-functional water control system located on the Yangtze River, the country’s longest waterway, according to the Xinhua News Agency.
Over the past two decades, the ship locks have continuously broken records in cargo throughput.
From 2022 to 2024, the annual volume of the Three Gorges ship locks surpassed 150 million metric tons each year. Annual cargo throughput soared from 34 million tons at the beginning of its operation to a peak of 169 million tons. Designed with a one-way annual capacity of 50 million tons, the locks have greatly exceeded expectations, highlighting their key role in the high-quality development of the Yangtze River’s waterway, according to another CCTV News report in March.
Li Ran, director of the Navigation Engineering Technology Center of the Three Gorges Navigation Authority, said that the construction of the Three Gorges project has significantly improved the navigation conditions of the upstream reservoir area. The natural advantages of water transport such as low costs and environmental benefits have led to a constant increase in shipping demand, exceeding the ship locks’ original designed capacity.
The Three Gorges Dam ship locks are the world’s most technologically complex inland river locks, spanning a total length of 6.4 kilometers. This includes a 1.66-kilometer main lock structure and a 4.8-kilometer approach channel.
Unlike the Panama Canal locks, which are shorter and mainly serve international shipping, the Three Gorges ship locks are designed to serve both domestic and international vessels. Their main focus is on optimizing the efficiency of China’s inland waterway transportation system, Ye Yong, general manager of the Tourism Development Division at the Three Gorges Tourism Group, told the Global Times on Wednesday.
According to Li, cargo demand has surged following the completion of the Three Gorges project, driven by the lower costs and environmental advantages of water transport.
“To improve passage efficiency, my technical team and I sought a solution,” Li said, adding that the ship locks are set to receive upgrades driven by artificial intelligence. Using big data and machine learning, the locks are expected to further optimize task scheduling, allowing vessels to receive real-time transit estimates from departure to destination.
Source: Global Times
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20 June 20253 min readCargo Throughput Going Through Three Gorges Dam Ship Lock Reaches 2.24 Billion Tons
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20 June 2025
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South Korean Shipyard Accuses Russia’S Zvezda Of Illegally Cancelling $3.54 Billion DealOne of the world’s largest shipbuilders, Samsung Heavy Industries has announced that it will take legal action against Russia’s largest shipyard, Zvezda, after the cancellation of two major shipbuilding equipment supply contracts worth a total of 4.85 trillion Korean won (around $3.54 billion).
The South Korean shipbuilder is also seeking damages through international arbitration.
According to Samsung, the contracts were unilaterally cancelled by Zvezda in June 2024. The Russian shipyard informed Samsung of the termination and requested the return of the advance payments made under the agreement.
In response, Samsung filed for arbitration in Singapore in July 2024, challenging the legality of Zvezda’s termination and aiming to confirm that the decision was not valid under the agreed terms.
The now-cancelled deals were signed in 2020 and 2021 and involved the supply of parts and steel hull blocks for 10 icebreaking liquefied natural gas (LNG) carriers and 7 icebreaking shuttle tankers. These specialised ships were meant to support Russia’s Arctic energy transportation routes.
However, complications began after Russia’s invasion of Ukraine in 2022. Following the war, the United States imposed sanctions on several Russian entities, including Zvezda. This significantly affected the execution of international contracts.
Samsung and Zvezda had reportedly been in discussions to resolve the issue as the geopolitical situation worsened.
Despite the talks, Samsung said Zvezda suddenly claimed that the Korean shipbuilder had defaulted on its contractual obligations and decided to cancel the agreement without mutual consent.
Samsung, on its part, rejected this claim and withheld about $800 million in advance payments, citing its right to protect company interests.
As the war continued and uncertainties around the contracts continued to grow, Samsung eventually decided to terminate the agreement from its end and proceed with a lawsuit and arbitration to claim damages.
The company said the decision was necessary due to rising concerns over the feasibility of carrying out the project and to defend its legal and financial interests.
The shipbuilder made the announcement in a regulatory filing on June 18, emphasising that Zvezda’s actions were an illegal breach of contract.
Reference: Reuters
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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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20 June 20253 min readSouth Korean Shipyard Accuses Russia’S Zvezda Of Illegally Cancelling $3.54 Billion Deal
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20 June 2025
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Sc Ports Approves $300 Million Plan To Expand InfrastructureAccording to SC Ports, terminals remain fluid, with cranes averaging 33 moves per hour and trucks averaging 35-minute turn times.
Rail-served inland ports connect Charleston to regional markets throughout the Southeast.
To support future demand, SC Ports’ Board has approved a $294 million capital plan for FY 2026.
Projects include completing the Navy Base Intermodal Facility (now over 80 per cent complete), expanding Leatherman Terminal, and upgrading Columbus Street Terminal for RoRo cargo.
READ: SC Ports expands Port of Charleston’s coverage
In May, the port authority handled 219,255 TEUs and 120,796 pier containers — up 22 per cent and 21 per cent from the previous year.
Loaded imports rose 19 per cent, and exports were up 10 per cent.
Inland Port Greer hit a monthly record with 16,952 rail moves, while Dillon moved 3,856 rail containers. Vehicle volumes held steady at 13,062 units.
SC Ports President and CEO, Barbara Melvin, said: “These strategic investments enable us to handle current cargo volumes, and the cargo that will flow from future investments and population growth in the Southeast.”
In March, the SC Ports team and the maritime community handled 240,857 TEUs and 131,513 pier containers, an 11 per cent increase over March 2024.
Port Technology International
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20 June 20252 min readSc Ports Approves $300 Million Plan To Expand Infrastructure
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20 June 2025
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Port Houston Secures $214 Million For Channel UpgradesThese funds are in addition to the $33 million for Project 11 and $98 million for O&M included in the U.S. Army Corps of Engineers’ FY 2025 Workplan.
Port Houston Chairman Ric Campo expressed appreciation to industry partners, stakeholders, Congressman Wesley Hunt, and the bipartisan delegation for their continued support.
READ: Port Houston adds hybrid RTGs cranes at Bayport Terminal
Chairman Campo said: “We appreciate the Trump Administration for recognising the criticality of this expansion and applaud Congressman Wesley Hunt and Congressman Brian Babin for their tremendous advocacy and unwavering leadership to bring home the millions of federal dollars needed to complete Project 11.
“This project will keep our economy moving forward and enable our port to continue delivering for not just Houstonians but the entire nation.”
Congressman Hunt stated: “As the largest energy port in the entire world, Project 11’s success is essential to maintaining Texas’s and the United States’ energy dominance.
“I would also like to express my sincerest gratitude to President Trump for recognising the importance of this project and his goal of ensuring America is once again a net exporter of energy.”
READ: Port Houston April volumes soar 20 per cent
Several segments of the Houston Ship Channel expansion are already complete, reducing daylight restrictions by up to two hours and improving two-way vessel traffic.
Port Houston expects to finish its final dredging phase this summer, with the U.S. Army Corps of Engineers leading the remaining work. Project 11 is set for completion by 2029.
Recently, DSP signed an agreement with Port Houston to support the processing and maintenance of its Electronic Data Interchange (EDI) messages and database systems.
Port Technology International
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19 June 20252 min readPort Houston Secures $214 Million For Channel Upgrades
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19 June 2025
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Port Of Duqm Secures Us$550 Million Investment BoostInvestcorp, a leading global investment firm, is to invest in a US$550 million port infrastructure project at the Port of Duqm in Oman. The investment will be made through Investcorp Aberdeen Infrastructure Partners (AIIP), a joint venture with Aberdeen, which will become a shareholder in the project, alongside the Port of Duqm Company, the DEME Group and Port of Antwerp Bruges. These stakeholders have come together in a jointly-formed a consortium named CAP INFRA.
This investment reflects AIIP’s mandate to invest in long-term concessions across GCC countries and the broader MENA region, and to develop partnerships with major maritime and port development players, such as the Port of Duqm Company and CAP INFRA.
Located in a prime central location in Oman, the Port of Duqm operates as a multipurpose logistics hub, handling container shipments, dry and liquid bulk, general and bagged cargo. As part of the planned marine infrastructure works, further dredging and the construction of a new quay wall are envisaged and this will service a new low-carbon industrial plant within the Special Economic Zone at Duqm.
The opportunity to invest in the project arose through a competitive bidding process, with AIIP securing the opportunity over four other contenders, highlighting investor confidence in the port’s long term potential. Reggy Vermeulen, Chief Executive Officer at Port of Duqm Company, commented: “We are proud to partner with AIIP to support the development of the port’s infrastructure. This investment is a strong vote of confidence in the Port of Duqm’s vision and future.”
Maritime Standard
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16 June 20252 min readPort Of Duqm Secures Us$550 Million Investment Boost
Maritime Standard
16 June 2025
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Meta Ceo’S $300 Million Mega Yacht Spotted Along The Corinthian Gulf CoastMark Zuckerberg’s yacht, the Launchpad and its support ship Wingman were seen in the Corinthian Gulf. However, there has not been a confirmed sighting of the Meta CEO.
The 300 million dollar yacht was first seen in the Ionian Sea and later close to the tourist resort of Alepochori, west of Athens.
The sight of this superyacht drew attention, and local port authorities and police responded to this profile, fuelling speculations about the presence of Zuckerberg, his wife, and many guests onboard the yacht.
On Tuesday night, many crew members from the 68 m Wingman, equipped with a helipad and a 15 m tender for short trips, came ashore in Alepochori for an evening stroll in the village.
The yacht is expected to sail through the Corinth Canal in the coming days, continuing its journey toward the Cyclades.
This journey comes after it was known that he was handling the development of a superintelligent AI, and stepping in to directly recruit and lead the development efforts amidst growing pressure from competitors.
According to some sources, Zuckerberg is hosting AI researchers at his home and offering them handsome packages stretching into the 9-figure range.
Coming back to his yacht, the Lauchpad is like a city on water. It is bigger than a soccer pitch and takes about 30 million annually in maintenance and running costs.
Details about the interior amenities of Zuckerberg’s mega yacht are scarce due to the yacht’s privacy; it is said that it has several guest suites, a master bedroom with a private balcony and lavish bathrooms.
It also boasts a cinema, virtual reality lounge, game room, gym, spa, sauna, a yoga studio and other amenities.
It also has decks with swimming pools, sunbathing areas, alfresco dining options and hot tubs.
Launchpad was made by Feadship, the shipyard which also built Bill Gates’ yacht and billionaire Michael Latifi’s yacht.
References: Greek Reporter, Tovima
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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14 June 20253 min readMeta Ceo’S $300 Million Mega Yacht Spotted Along The Corinthian Gulf Coast
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14 June 2025
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Wan Hai Invests Us$150 Million In 48,000-Container OrderWan Hai Lines has ordered a total of 48,000 containers for around US$150 million in two tranches, according to DynaLiners.
The Taiwanese ocean carrier has ordered 30,000 boxes from CIMC at around US$100 million and 18,000 containers from Singamas at approximately US$50 million.
Container News
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13 June 20251 min readWan Hai Invests Us$150 Million In 48,000-Container Order
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13 June 2025
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Nibulon To Export 1 Million Tons Of Grain Via Black Sea...June 13, 2025
Nibulon, one of Ukraine's biggest grain companies, said on Friday it has signed a deal with the operator of the Ukrainian Black Sea port of Chornomorsk to export up to one million metric tons of grain in the July 2025-June 2026 season.
Nibulon's own export terminal in Mykolaiv has been blocked since the start of the Russian invasion in 2022.
Only three Ukrainian Black Sea ports in the Odesa region, including Chornomorsk, are currently operating.
"The signing of the contract is a decisive step in the formation of a flexible logistics model that will allow Nibulon to maintain continuity of exports even without access to its own terminal," the company said on Facebook.
Southern Ukrainian regions, including Mykolaiv and Odesa, have already started the 2025 grain harvest, which is forecast to decrease by 10% from last year due to poor weather.
Ukrainian agriculture minister Vitaliy Koval told Reuters this month that the 2025 grain harvest may fall to around 51 million tons, from 56.7 million tons in 2024.
His first deputy, Taras Vysotskiy, told Reuters that grain exports may total 35-40 million tons in 2025/26.
(Reuters)
Maritime Logistics Professional
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13 June 20251 min readNibulon To Export 1 Million Tons Of Grain Via Black Sea...
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13 June 2025
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China Coal Imports Could Drop By Up To 100 Million Tons In 2025, Industry Group Saysin Dry Bulk Market,Freight News
12/06/2025
China’s coal imports could drop by up to 100 million metric tons in 2025, an official at a major industry group said, potentially putting further pressure on key price benchmarks already trading at multi-year lows.
Imports by the world’s largest consumer, importer and producer of the fossil fuel rose to a record high of 542.7 million metric tons in 2024, as lower international coal prices spurred buyers to substitute imports for domestic supply.
Shipments could fall by 50 million to 100 million tons in 2025, Xuegang Li, vice president at China Coal Transportation and Distribution Association, told the Coaltrans China conference on Wednesday.
Coal imports were 8% lower in the five months to the end of May, official data showed. A decline of 100 million tons this year would amount to a drop of 18.4% annually.
“The decrease in China’s coal imports in 2025 will exceed expectations,” Li said, without indicating how much he expected imports of thermal coal and metallurgical coal to fall.
Thermal coal is mainly used in power generation, while metallurgical coal is used in steelmaking processes.
The Chinese government’s recent directives to coal-fired power plants to reduce imports and stockpile more of the domestically mined fuel could put further pressure on prices.
Indonesian (IDIDX42GRW1=ARG) and Australian (API5DXWKY=ARG) coal indices reflecting grades preferred by Chinese buyers have been trending lower since October 2023, with the Indonesian grade falling 25% and the Australian grade 37% in that period.
Domestic coal production is expected to increase by 70 to 80 million tons this year after falling in 2024, which would contribute to lower import requirements, Li said.
Rising renewable output has also helped China progressively cut dependence on thermal coal, which accounts for the bulk of coal consumption in the world’s second largest economy.
The share of coal in power generation fell to a record low of 54% in April, with the share of wind and solar in overall output rising to 26%, data from energy think-tank Ember showed.
“Looking ahead, coal production will increasingly be constrained by capacity limit,” Li said, adding that China’s total coal consumption could peak by 2027 or 2028.
Source: Reuters
Hellenic Shipping News
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12 June 20252 min readChina Coal Imports Could Drop By Up To 100 Million Tons In 2025, Industry Group Says
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12 June 2025
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China May Soybean Imports Hit Record High Of 13.92 Million Metric Tonsin Dry Bulk Market,Freight News
11/06/2025
China soybean imports hit a record high of 13.92 million metric tons in May, customs data showed on Monday, more than double the volume imported in April, as customs clearance speeds returned to normal and the operating rate of crushing plants recovered.
Imports had plunged to a 10-year low of 6.08 million metric tons in April, as prolonged customs delays and late shipments from Brazil – caused by harvest slowdowns and logistical issues – disrupted the usual cargo flow.
Customs clearance speed has returned to around two weeks from 20-25 days, said Rosa Wang, an analyst from Shanghai-based agro-consultancy JCI.
“The operating rate of crushing plants has risen to over 50%, and soybean meal deliveries have also been good,” Wang said, adding that May’s import volume exceeded her expectation of 12 million to 12.5 million metric tons.
Imports in May were up 36.2% from 10.22 million metric tons in the same period last year, based on Reuters’ calculations from customs data.
Imports in the first five months of the year totalled 37.11 million tons, 0.7% lower than the year-ago period, data from the General Administration of Customs showed.
Most imports come from top producer Brazil, which typically ships the bulk of its soybean crop between March and June.
Brazil exported 14.10 million tons of soybeans in May, up from 13.44 million tons in the same month last year, according to government data.
The country’s grain exporters association Anec forecast Brazil’s soybean exports will reach 12.55 million metric tons in June, down from 13.83 million tons in the same month last year.
In Argentina, the world’s third-largest producer, soybean yields continue to track higher than expected despite slower-than-usual harvesting due to heavy rainfall affecting multiple crops, the Rosario grains exchange said last week.
Source: Reuters
Hellenic Shipping News
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11 June 20252 min readChina May Soybean Imports Hit Record High Of 13.92 Million Metric Tons
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11 June 2025
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