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Intermodal Weekly Market Report Week 10 2025 Broker’S Insight

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Hellenic shipping news

Mar 12, 2025

Intermodal Weekly Market Report Week 10 2025 Broker’S Insight

in Weekly Shipbrokers Reports

12/03/2025

In view of President Trump’s declared intention to “Make America’s Shipbuilding Great Again,” this week we aim to shed some light

Source: Intermodal

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Hellenic shipping news

Intermodal Weekly Market Report Week 10 2025 Broker’S Insightin Weekly Shipbrokers Reports 12/03/2025 In view of President Trump’s declared intention to “Make America’s Shipbuilding Great Again,” this week we aim to shed some light Source: Intermodal

port-and-ship

12 March 2025

Hellenic shipping news

Shipping Anchors The Eu’S Future’: Union Of Greek Shipowners To Highlight Industry’S Strategic Role At European Shipping Summit 2025in Hellenic Shipping News 12/03/2025 As part of the European Shipping Summit 2025 in Brussels, the Union of Greek Shipowners is organizing a special event on Wednesday 19 March, focusing on the strategic role of shipping in securing Europe’s future. Entitled ’Shipping Anchors the EU’s Future‘, the event will convene European and international figures with keynote speaker Mr. Charles Michel, President Emeritus of the European Council (2019-2024), former Prime Minister of Belgium (2014-2019), Minister of State. Representing the world’s leading shipping industry, the Union of Greek Shipowners plays a pivotal role in highlighting the sector’s essential contribution at both global and European levels. The President of the Union of Greek Shipowners, Ms. Melina Travlos stated: “Greek shipping means European shipping. With our fleet comprising over 60% of European capacity, we act as responsible leaders—driven by vision, consistency and positions that are both substantiated and realistic. Our efforts underscore the vast contribution shipping makes to Europe’s security and prosperity”. Source: Union of Greek Shipowners

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12 March 2025

Hellenic shipping news

Banchero Costa Weekly Market Report, Week 10 2025in Weekly Shipbrokers Reports 12/03/2025 Total seaborne exports of soybeans in calendar (Jan-Dec) 2024 declined by -5.0% year-on-year to 142.3 mln tonnes Source: banchero costa &c s.p.a

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12 March 2025

Hellenic shipping news

Pherousa Receives Initial Approval In Principle From The Two Major Maritime Classification Societies: American Bureau Of Shipping (Abs) And Dnvin International Shipping News,Shipping: Emission Possible 12/03/2025 The Approvals in Principle granted by American Bureau of Shipping (ABS) and DNV on an independent evaluation basis, come with no show-stopper conditions, affirming the viability and safety of the Pherousa Ammonia Cracking technology onboard ships with PEM Fuel Cells and Fuel Gas Supply System (FGSS), generating a fully electrical propulsion. Pherousa is together with partners developing Ammonia Cracking technology that could make the transition to fossil-free and zero-emission propulsion within the maritime short- to deep-sea transport sectors a reality. Unlike conventional fuels, ammonia is a non-explosive liquid that carries a significant amount of clean hydrogen energy that, if technology is developed to utilize the contained hydrogen, can be used to drive new types of engines onboard. Therefore, ammonia is increasingly becoming the go-to choice and Pherousa’s technology has potential to provide the solution for enabling the shift to carbon-free maritime transportation. This milestone achievement marks a significant step forward in the development of sustainable emission-free propulsion solutions for the maritime industry. Key partners in the work towards the two AiPs include the designers Deltamarin, the flag state Marshall Islands, Babcock International Group, which supplies the FGSS, as well as Metacon, the technology developer and shareholder of Pherousa. “The Approval in Principle from two of the leading classification societies and certification bodies, ABS and DNV, marks another important milestone for us in the development of zero-emission solutions for the maritime industry. By granting Pherousa these AiPs, both ABS and DNV clearly state that there are no showstoppers of the Pherousa technology for marine application. The grants further allow us to continue the design and construction of our series of 64.000 dwt Bulk Carriers earmarked for the Copper industry, to ensure that this specific commodity, so essential to the global decarbonisation, can be delivered across oceans without any carbon footprint at all. Only ships that have no carbon fuels onboard can ensure the end-users that the copper utilized for solar panels or electric cars is free of emissions in its supply chain”, said Hans Bredrup, Chairman of Pherousa AS. Ammonia is gaining momentum as a hydrogen carrier for technology application onboard vessels, from coastal to deep-sea shipping and in parallel with this development, Clean Ammonia could potentially make up about 13% of the global ammonia supply by 2030. The Pherousa subsidiary, Pherousa Shipping, has worked closely with two major copper miners during the design process of the Ultramax 64.000 dwt vessel, to find the optimal layout for an emission free transportation of copper concentrates between its origin and the smelters. The vessels are intended to be on water in parallel with the new IMO regulative that comes into force in 2030, thus allowing the cargo industry to use fully emission free vessels for their transportation of goods at sea. The patented Ammonia Cracking HIWAR® concept by Metacon is a technology designed to efficiently convert ammonia into high-quality hydrogen fuel. By its exclusive license agreement to Pherousa, for use directly on-board ships, it represents a significant leap forward in sustainable maritime energy, paving the way for a cleaner, greener future in the industry. Our approach to Ammonia Cracking is based on thorough research, testing and innovation to ensure optimal performance and reliability for our customers. The Pherousa Ammonia Cracking can be applied to a variety of developed technologies, such as; supplying Hydrogen to PEM Fuel Cells, replacing conventional fuels with Hydrogen as pilot fuel on Ammonia fueled Internal Combustion Engines (ICE), supplying Hydrogen Internal Combustion Engines (ICE), all yielding 100% emission free propulsion, as well as supplying Hydrogen to Auxiliary Engines to reduce the emissions. Any of the four alternatives can be fitted onboard any type of vessel and with an engine power up to 15-20 MW. Commodity players can thus obtain emission free transportation with a variety of emission free technologies to select from, working with ship owners / operators to select the technology of choice that suits a particular trade or type of vessel. This adaptability is reshaping the operational efficiency of vessels across the deep blue. Embracing our ammonia cracker technology is a decisive step toward achieving a carbon-free propulsion system, facilitating a seamless transition from ammonia to hydrogen on-board ships, aligning perfectly with evolving environmental standards and the growing trend of eco-conscious practices in commerce. It’s an ideal solution for those looking to lead in sustainable maritime advancement. The prototype developed by Pherousa and its shareholders Metacon, has not only been delivered but has demonstrated its practical potential. Pherousa is now transitioning from concept to scale-up and market entry, ready to deploy our innovation on a global scale. Source: Pherousa

port-and-ship

12 March 2025

Hellenic shipping news

Samsung Heavy Eyes $5.5 Bn Flng Ship Deals As Trump Sanctions Chinain Shipbuilding News 12/03/2025 At a huge shipyard operated by Samsung Heavy Industries Co. on Geoje, an island in South Gyeongsang province some 390 km south of Seoul, several hundred workers, maybe more, were assembling a new offshore structure for Malaysia’s Petronas, one of the world’s top gas and oil firms, under an unusually hot springtime sun in early March. The mammoth structure, known as a floating liquefied natural gas (FLNG) production facility, weighs 50,000 tons and spans 2.5 football fields. It’s the world’s first near-shore FLNG plant, according to a Samsung Heavy official. Unlike conventional offshore FLNG facilities, which extract and process gas at sea, the new structure, or ship rather, functions as a maritime LNG terminal, liquefying and storing the fuel before carriers ship it to markets. FLNG units are among the most complex offshore structures, requiring three times the workforce per hour compared to conventional vessels. “FLNG construction sometimes requires up to 2,500 workers simultaneously due to its complexity,” Kim Hyun-ho, Samsung Heavy’s offshore plant production manager, told The Korea Economic Daily. KOREAN SHIPBUILDERS STAND TO BENEFIT FROM TRUMP POLICY Analysts said Samsung and other Korean shipbuilders stand to benefit from a geopolitical shift that has sidelined Chinese competition in the industry. Washington’s tougher stance on Beijing is reshaping the global LNG supply chain. In January, the Trump administration imposed sanctions on China’s Zhoushan Wison shipyard – Samsung Heavy’s only serious competitor in FLNG facility construction. As the US government seeks to expand liquefied natural gas (LNG) exports, global energy majors are now turning to the Korean shipbuilder. European and North American energy firms are also working to mitigate exposure to Chinese yards. According to industry sources on Tuesday, four energy firms – Italy’s Eni S.p.A, US-based Delfin LNG, Canada’s Western LNG and Norway’s Golar LNG – are set to finalize FLNG construction contracts with Samsung Heavy soon. Samsung Heavy has already begun work on Eni’s Mozambique FLNG project, with the signing of an official contract now a mere formality, sources said. Delfin LNG originally planned to involve China’s Wison in its second and third FLNG facilities out of four, but recently pivoted to Samsung, they said. Samsung is also said to be in talks with unidentified global energy firms about building FLNG facilities in Argentina and Suriname. With at least four FLNG unit construction orders in the pipeline, Samsung Heavy is expected to secure contracts worth 8 trillion won ($5.5 billion) this year, sources said. Unlike other commercial vessels, which usually yield single-digit margins, FLNG units boast double-digit profit margins as building them requires high technology, which bodes well for Samsung, which controls 55% of the FLNG construction market. Samsung Heavy won an FLNG unit building contract in 2011 from Shell plc – the world’s first FLNG facility construction order from an energy major. LNG VESSEL OPPORTUNITIES FOR OTHER KOREAN SHIPBUILDERS Meanwhile, Samsung’s domestic competitors are also seeking to capitalize on booming LNG-related projects. HD Hyundai Marine Solution Co., a ship repair and maintenance service unit of the world’s No. 1 shipbuilder HD Hyundai Heavy Industries Co., stands to benefit from rising demand to convert aged LNG carriers into floating LNG terminals. HD Hyundai Marine, the only Korean company with such ship conversion technology, expects to secure its first order to convert aging LNG carriers into floating storage and regasification units (FSRUs) this year. Emerging economies such as Brazil, Indonesia and Bangladesh – seeking to import LNG from the US via sea routes – are showing keen interest in ship conversion, along with European nations that have traditionally relied on Russian pipeline natural gas, sources said. Hanwha Ocean Co., which last year acquired a 100% stake in Dyna-Mac Holdings Ltd., a Singaporean floating facility designer and manufacturer, is also targeting LNG-related offshore contracts over the coming months. Source: Samsung Heavy Industries

port-and-ship

12 March 2025

Hellenic shipping news

Danelec Expands High-Frequency Data Installed-Base With 15,000 Ships Now Connectedin International Shipping News 12/03/2025 Danelec, a global leader in maritime data solutions, reports that its high-frequency data (HFD) collection systems have now been deployed on more than 15,000 vessels worldwide. The milestone underscores an accelerating shift towards real-time data-driven decision-making across the shipping industry, with Danelec systems being chosen to enhance efficiency, safety, and compliance in an era of increasing regulatory and environmental pressures. In 2024 alone, Danelec’s technology enabled the capture of over 1.5 trillion onboard datapoints, a figure set to double by 2026. Ship operators are today adding HFD data to existing low-frequency data (LFD) sources such as noon reports, which offer only periodic snapshots of vessel performance, and the change is proving to be a transformative force. By delivering continuous insights into critical ship systems, trustworthy HFD empowers operators to optimize fuel consumption, enhance predictive maintenance, and ensure compliance with evolving international regulations. “The shift toward HFD is more than a technological upgrade. It represents a fundamental change in how the maritime industry approaches operational efficiency and emissions reduction,” said Casper Jensen, CEO of Danelec. “Real-time insights from high fidelity data allow shipowners and operators to make informed decisions that not only improve performance but also ensure compliance with stringent regulatory frameworks,” he added. The industry-wide impact of HFD is already evident. A recent report by Thetius, produced in collaboration with Danelec, highlights how forward-thinking shipping companies are leveraging high-frequency data to drive operational improvements. Casper Jensen CEO Danelec The report referenced the experience of experts working with HFD, with one operational VP noting that his team was getting much more accurate consumption calculations and real-time monitoring of vessel performance, which is not possible with low-frequency updates. Another professional, working as a vessel performance manager at a leading shipping company emphasized the increased level of control and situational awareness that HFD provides, mitigating human error and improving decision-making at sea and onshore. Beyond individual operational benefits, HFD is rapidly becoming a cornerstone of maritime sustainability strategies. With pressure mounting on shipowners to align with emissions reduction targets, the ability to monitor fuel consumption and optimize routing in real-time is essential. “By harnessing the power of HFD, early adopters are positioning themselves at the forefront of a rapidly evolving industry landscape,” said Jensen. “Quality is just as important as frequency however, which is why we are also launching a new solution for automated data verification and overcoming the challenges of unreliable sensors in the very near future.” As Danelec continues to expand its global footprint, the company remains committed to advancing digital solutions that empower ship operators to make smarter, more sustainable decisions. With plans to double data collection volumes by 2026, Danelec is not just supporting industry digitalization – it is driving it forward. Source: Danelec

port-and-ship

12 March 2025

Hellenic shipping news

Us Lng Accounts For Nearly A Third Of Spanish Gas Imports So Far This Yearin Freight News 12/03/2025 Imports of liquefied natural gas from the United States rose to 31.8% of Spain’s total gas imports in January and February from just over 27% a year ago, while imports of Russian LNG declined, data showed. Europe is absorbing most U.S. LNG exports due to cold weather and strong prices. In the first two months of the year, Spain imported the equivalent of 19,711 gigawatt-hours (GWh) of gas from the United States, compared with 17,454 GWh a year earlier, according to data from Spanish grid operator Enagas ENG. That makes the U.S. the largest supplier of natural gas to Spain so far this year, ahead of Algeria. With Spain’s overall gas demand declining almost 3%, the total import market share of gas from the U.S. increased. Imports of Russian LNG declined roughly 38% in absolute terms. They also fell as a share of Spain’s total imported gas, down to 14% this year compared with 22% in 2024. Source: Reuters

port-and-ship

12 March 2025

Hellenic shipping news

First Liquefied Natural Gas Cargo Produced At Corpus Christi Stage 3 Export Facilityin Freight News 12/03/2025 In February 2025, Corpus Christi Stage 3, an expansion of the existing Corpus Christi liquefied natural gas (LNG) export facility, produced its first LNG cargo, according to the developer Cheniere Energy. Corpus Christ Stage 3 started producing LNG in December 2024. The start of LNG exports from Corpus Christi Stage 3 follows shortly after the start of exports from another U.S. LNG export facility—Plaquemines LNG Phase 1—also in December. The Corpus Christi Stage 3 expansion facility, located next to the existing Corpus Christi LNG terminal in San Patricio County, Texas, consists of seven midscale trains, with a combined nominal capacity of 1.3 billion cubic feet per day (Bcf/d) and peak capacity of 1.5 Bcf/d. Project developer Cheniere Energy indicated that the first three midscale trains at Corpus Christi Stage 3 are expected to start up in 2025 and the remaining four trains in 2026. Once all seven trains are operating, the total nominal capacity of Corpus Christi LNG will be 3.1 Bcf/d (3.9 Bcf/d peak), making the facility the second largest in the United States after Sabine Pass LNG, which has a nominal capacity of 3.6 Bcf/d (4.6 Bcf/d peak). Source: EIA

port-and-ship

12 March 2025

Hellenic shipping news

Us Lng Exporters Seek To Renegotiate Deals To Cover Rising Costsin Freight News 12/03/2025 Several U.S. LNG producers are trying to renegotiate higher prices with buyers as a result of rising construction, labor and borrowing costs, according to sources and company statements reviewed by Reuters. Higher prices would eat into the competitive advantage of U.S. liquefied natural gas on the global market, at a time U.S. President Donald Trump is seeking to expand the industry – already the world’s largest. “The competitiveness of U.S. LNG could face a double whammy,” said Alex Munton, director of global gas and LNG research at consulting firm Rapidan Energy Group. Rising liquefaction costs, a tighter domestic gas market, and falling prices for rival supplies indexed to oil could all impact U.S. LNG competitiveness, said Munton. Four sources said Mexico Pacific and Venture Global VVG are seeking to renegotiate their supply purchase agreements with buyers, while Energy Transfer’s ET co-CEO told an earnings call that negotiations were underway. Mexico Pacific, which is developing a 15 million metric tonnes per annum (MTPA) facility in Western Mexico to market U.S. natural gas, has been trying to renegotiate higher liquefaction fees with Chinese buyers Zhejiang Energy and Guangzhou Gas, according to two Chinese industry officials with knowledge of the matter. Mexico Pacific wants to renegotiate the prices because U.S. engineering firm Bechtel, the company building the plant, wants a construction price that has made the project too expensive, the sources said. Mexico Pacific and Bechtel declined comment. Zhejiang and Guangzhou have so far rejected Mexico Pacific’s proposal, the sources said. They did not provide details of Mexico Pacific’s liquefaction costs or how much the company wanted to lift them. Guangzhou, meanwhile, has asked to cut its take from the project from 1 MTPA to 700,000 tons per annum, one of the two sources, who has direct knowledge of the matter, told Reuters. Zhejiang Energy didn’t respond to emailed requests for comment. Guangzhou Development Group, parent of Guangzhou Gas, did not immediately comment. Venture Global, the second-largest U.S. LNG exporter, has also been trying to renegotiate higher prices for supply and purchase agreements for its CP2 project in Louisiana, even though the plant is yet to start construction and has not gotten the financial go-ahead, according to two separate sources. Venture Global did not reply to a request for comment. In January the firm told investors that liquefaction fees could rise above $4 per million British thermal unit (mmBtu) from around $2.25 today. Energy Transfer ET, which is developing a 16.5 MTPA LNG export facility in Louisiana, said on an earnings call in February that it has also been renegotiating liquefaction fees with customers as it tries to align higher construction costs with offtake agreements. “Everybody understands how costs have risen. And we are in continued negotiations with those to renegotiate their fees,” said Marshall McCrea, Energy Transfer’s Co-Chief Executive Officer. McCrea said customers had stuck with the project despite the demand for higher fees. The largest U.S. LNG exporter, Cheniere Energy LNG, meanwhile, said in February it was not increasing fees, in part because its prices are already linked to inflation and its projects are built on brownfield sites that have cost advantages. Baker Hughes BKR, one of the largest equipment providers to the U.S. LNG sector, has been able to contain its cost inflation but there have been increases for LNG developers, said Lorenzo Simonelli, the company’s CEO. “It’s the EPCs that we see that more, it’s the labor content that we see that more,” Simonelli said, referring to engineers, procurement, and construction firms. “If we look at the external environment we would say there is some inflation taking place.” Overall, liquefaction fees for U.S. LNG projects are on a path to rise above $2.50/mmBtu due to a tight labor market, rising construction costs and stubbornly elevated interest rates, brokerage Poten and Partners said in a recent report to clients. Higher liquefaction fees could hurt the cost-competitiveness of U.S. LNG projects, especially if coupled with an increase in U.S. natural gas prices and or a drop in Brent crude oil prices, Poten warned. “On top of a labor shortage, inflation is driving up the price of equipment and materials,” Poten said. Source: Reuters

port-and-ship

12 March 2025

Hellenic shipping news

Ayk Energy Strikes Landmark Deal With Turkish Yard To Supply The World’S First Battery-Methanol Tugin International Shipping News,Shipping: Emission Possible 12/03/2025 Marine battery maker AYK Energy has been commissioned to manufacture and supply the 6MWh battery that will power the world’s first battery-methanol tug. The rapidly expanding marine battery manufacturer has won the contract to deliver the battery system to Turkish shipyard Uzmar. The yard is building the vessel for Svitzer, the leading global towage and marine services provider, with delivery planned in the second half of 2025. It is AYK’s first contract with Uzmar. The 6MWh battery-powered tug will be deployed in Gothenburg and provide zero-emission services across a quarter of Svitzer’s operations in the Swedish port. The tug is based on Svitzer’s innovative TRAnsverse tug design and the battery will be supported by dual fuel methanol engines for back-up and range extension. The escort duty tug is expected to conduct more than 90% of its operations using its battery-electric powertrain. The vessel’s design will also allow the battery-powered tug to operate more efficiently than internal combustion engine powered tugs of a traditional design. With a gross tonnage of approximately 806 tonnes, the tug will be capable of achieving speeds of up to 14 knots. The contract with Uzmar reinforces AYK’s role as one of the sector’s prime innovators. AYK Energy founder Chris Kruger said: “We’re extremely pleased to have won the contract from Uzmar to work on this project, which is a trailblazer in the sector. It once again underlines the confidence the marine industry has in AYK to deliver. It also shows our continuing progress in winning the bigger battery projects and that is very much down to our advanced technology and commitment to providing value for money. Battery solutions are constantly expanding, and we are proud to be at the forefront when it comes to providing those solutions to the maritime sector. Companies like Svitzer see it becoming an important power option in the sustainability transition. They see the combination of battery power and methanol engines as safe, efficient and reliable. And once again in this work we are showing how marine batteries can play a fundamental role in decarbonizing the maritime industry, right here and now.” Gareth Prowse, Head of Decarbonisation at Svitzer, said: “The launch of a first-of-its-kind newbuild project with our partners at Uzmar Shipyard is a significant milestone for our decarbonisation ambitions. The battery electric tug will mean we can deliver our services to customers in the Port of Gothenburg with significantly lower carbon emissions, and still to the highest operational and safety standards.” AYK Energy founder Chris Kruger aboard H2 Barge Uzmar CEO, A. Noyan Altug, added: “By integrating cutting-edge technologies and sustainable practices, we are not just building a tug; we are helping to shape the future of green maritime operations.” The order comes as fast-growing AYK Energy is seeing a surge in demand for its batteries across the maritime industry with the manufacturer supplying tugs, OSVs, superyachts, fishing vessels, work boats and even large container vessels as part of their power mix. The battery for the new build Svizer tug will be built at AYK’s 5000 sqm automated manufacturing plant in in Zhuhai China which opened in 2023. The plant has a production capacity of 300MWH a year with the ability to expand to 1GWH. Source: AYK Energy

port-and-ship

12 March 2025

Hellenic shipping news

Ship Collision Off Uk Coast: Xeneta Analyst Responsein International Shipping News 12/03/2025 The below quotes and insight are in response to the collision between the container ship Solong and tanker Stena Immaculate off the coast of the UK shortly before 09.48am this morning (10 March). Xeneta analysis on maritime safety Peter Sand, Xeneta Chief Analyst: “We must hope crew on both ships are rescued and have not suffered injury. This is a very busy shipping lane but this type of incident should never happen and is another stark reminder of the catastrophic consequences of a failure in maritime safety. “Comparisons will be made to previous maritime disasters, such as the collapse of Baltimore Bridge last year after it was struck by a container ship, but we should be careful not to speculate on the cause of this latest incident until an investigation is completed. The image shows the location of the Solong on its route from Grangemouth, Scotland, to Rotterdam, Netherlands (source: Xeneta/Marine Benchmark) “Billions of dollars of containerized cargo is moved across highly complex ocean supply chains every day, so the fact incidents such as this are rare suggests there are generally high levels of safety in maritime transport. Unfortunately, when there is a failure, the consequences are extremely serious for the crew, vessel, cargo and environment. “It is vitally important that the industry works together to learn lessons from this incident once the cause is fully investigated and understood.” Xeneta analysis on impact of incident on ocean supply chains: Peter Sand, Xeneta Chief Analyst: “The Solong is a 804 TEU (20ft equivalent container) ship, which is extremely small by container shipping standards. The ship was operating a service between Grangemouth, Scotland and Rotterdam, Netherlands. “Unlike the Baltimore Bridge incident last year, this collision occurred further out at sea so it is unlikely to have a significant impact on nearby port operations or shipping networks unless the efforts to deal with the oil spill impact ships sailing through the area. “While the Solong is a small vessel compared to most container ships, it could still be carrying cargo worth millions of dollars that is danger of being lost along with the vessel itself.” Source: Xeneta

port-and-ship

12 March 2025

Bunker Port News Worldwide

Europe Gas Prices Up Amid Lower Norway Exports, Higher DemandDutch and British wholesale gas prices rose on Tuesday morning amid lower Norwegian exports to Europe and higher demand. The benchmark front-month contract at the Dutch TTF hub (TRNLTTFMc1) was up 0.64 euro at 41.68 euros per megawatt hour (MWh) by 0932 GMT, LSEG data showed. The contract for May rose by 1.15 euro to 41.66 euros/MWh. The British front-month contract (TRGBNBPMc1) was 1.27 pence higher at 102.07 pence per therm. Total Norwegian export nominations are down 5 million cubic metres (mcm) at 321 mcm/day due to maintenance work at the Åsgard field which are expected to end tomorrow. Meanwhile, north-west Europe local distribution zone (LDZ) demand, which is primarily for heating, is expected to be 262 gigawatt hours per day (GWh/d) higher at 3,327 GWh/d on the day-ahead due to a drop in temperatures. “We assess that the day-ahead fundamentals (higher demand and Norwegian maintenances) should drive the market today, prices adjusting slightly higher towards the 20-day and 50-day moving averages,” said Saku Jussila, gas analyst at LSEG. Total north-west Europe liquefied natural gas (LNG) send-out is flat at 2,517 GWh/d. Nominations for LNG from the Gate and Eemshaven terminals are at 130 GWh/d and 0 GWh/d, respectively. “We assume this is a data blip and both terminals should keep sending out at normal levels,” Jussila added. Lat week, Slovak Prime Minister Robert Fico said the possibility of shipping Azerbaijani gas was part of discussions with the European Commission on restarting transit flows through Ukraine. “Given the uncertainty surrounding a possible resumption of the Ukrainian transit, the market seems to think it is more prudent not to let too many LNG cargoes leave for Asia,” said analysts at Engie EnergyScan. In the European carbon market (CFI2Zc1), the benchmark contract inched down by 0.23 euro at 68.78 euros per metric ton. Source: Reuters

port-and-ship

12 March 2025

Port Calls

Portcalls March 12, 2025Our latest stories (March 12, 2025). Stories include:

port-and-ship

12 March 2025

shipping telegraph

Himalaya Shipping Converts Newcastlemax Duo Charters To Fixed DealsBermuda-based drybulk owner Himalaya Shipping Ltd. has agreed to convert the index-linked charters to fixed rate time charters for the 210,000-dwt newcastlemax bulkers Mount Norefjell and Mount Hua from April 1, 2025, to December 31, 2025. The agreed conversion rate for the 2023-built vessel Mount Norefjell is $32,000, according to reports from Himalaya Shipping. The bulker recently came off a fixed rate time charter of $30,000 at the end of February and subsequently entered into a new index-linked time charter with conversion options. Himalaya Shipping added that the agreed conversion rate for the 2024-built bulker Mount Hua is $31,500. In addition, the two vessels will continue to earn scrubber premium according to the terms of the existing time charter agreements. Following this, the company will have 10 vessels trading on index-linked time charters. Himalaya Shipping Ltd. is a bulk carrier company, incorporated in Bermuda with twelve vessels in operation.

port-and-ship

12 March 2025

shipping telegraph

Us Import Cargo Levels Continue To Rise Among Uncertainty Over TariffsAmid continuing tariff turmoil, U.S. imports at major container ports are expected to remain elevated through this spring but volume could see year-over-year drops this summer, according to the Global Port Tracker report released yesterday by the National Retail Federation and Hackett Associates. “Retailers are continuing to bring as much merchandise into the country ahead of rising tariffs as possible,” NRF vice president for supply chain and customs policy Jonathan Gold said. “The on-again, off-again tariffs against Canada and Mexico won’t have a direct impact on port volumes because most of those goods move by truck or rail. But new tariffs on goods from China that have already doubled from 10% to 20% are a concern, as well as uncertainty over ‘reciprocal’ tariffs that could start in April. Retailers have been working on supply chain diversification, but that doesn’t happen overnight. In the meantime, tariffs are taxes on imports ultimately paid by consumers, not foreign countries, and American families will pay more as long as they are in place.” US President Donald Trump announced a 10% tariff on goods from China in February, then increased the amount to 20% last week. A 25% tariff on goods from Canada and Mexico first announced in February was delayed until last Tuesday, then put on hold for a month for goods compliant with the U.S.-Mexico-Canada Agreement trade pact signed during Trump’s first administration. Hackett Associates Founder Ben Hackett said imports from all trading partners could also be affected by a new fee between $1 million and $1.5 million for each time a Chinese-built ship docks at a U.S. port being considered by the Office of the U.S. Trade Representative. “Given that a significant portion of the global container fleet has been built in China, this means that there will be further costs that will be passed on to cargo owners and ultimately the consumer,” Hackett said. Carriers will likely make more use of larger vessels and consolidate calls at major ports rather than making multiple stops at smaller ports. “Ports accommodated the surge in import volume in the final quarter of 2024 without major issues, but this will place additional pressure on the supply chain while also harming the nation’s smaller ports.” U.S. ports covered by Global Port Tracker handled 2.22 million twenty-foot equivalent units-one 20-foot container or its equivalent-in January, the latest month for which final numbers are available. “That was up 4.4% from December and up 13.4% year over year,” NRF added in its release. Ports have not yet reported February’s numbers, but Global Port Tracker projected the month at 2.07 million TEU, up 6.1% year over year. That would be the busiest February – traditionally the slowest month of the year because of Lunar New Year factory shutdowns in China – in three years. March is forecast at 2.14 million TEU, up 10.8% year over year. April at 2.13 million TEU, up 5.7%, May at 2.14 million TEU, up 2.8%, June at 2.07 million TEU, down 3.2%, and July at 1.99 million TEU, down 13.9%. “June and July’s year-over-year declines would be the first since September 2023, and July’s volume would be lowest since 1.93 million in March 2024,” the NRF said in its release. “While tariffs might be a factor in the year-over-year decline, imports were elevated last summer as retailers brought in cargo ahead of what turned out to be a short strike at East Coast and Gulf Coast ports in October,” it added. NRF expects the first half of the year to total 12.78 million TEU, up 5.7% from the same time last year. Imports during 2024 totaled 25.5 million TEU, up 14.7% from 2023 and the highest level since 2021’s record of 25.8 million TEU during the pandemic. Global Port Tracker, which is produced for NRF by Hackett Associates, provides historical data and forecasts for the U.S. ports of Los Angeles/Long Beach, Oakland, Seattle and Tacoma on the West Coast; New York/New Jersey, Port of Virginia, Charleston, Savannah, Port Everglades, Miami and Jacksonville on the East Coast, and Houston on the Gulf Coast.

port-and-ship

12 March 2025

Splash 247

Havila Extends Bareboat Deal With OceanpactNorwegian offshore vessel owner Havila Shipping has secured a contract extension with OceanPact for its subsea vessel Havila Harmony. The 2005-built and 2007-converted ship also known as Parcel Dos Meros will stay with the Brazilian offshore vessel owner and services provider on a bareboat charter until the end of 2025. The Fosnavåg-based firm, which operates 14 vessels including six for external owners, announced the initial bareboat deal in July 2020. The financial terms of the latest deal are said to be in line with the current market.

port-and-ship

12 March 2025

Splash 247

Peter Döhle Firms Up Boxship Newbuilds In ChinaGermany’s Peter Döhle Schiffahrts has moved fast to complete its containership orders in China. Shipbuilding sources say the Hamburg-based boxship and bulker owner and operator has exercised options for a pair of 8,400 teu newbuilds at CSSC Guangzhou Shipyard International (GSI) after signing up for three firm units earlier this year. Brokers have placed a price tag of $121m on each LNG dual-fuel vessel with deliveries scheduled between 2027 and 2028. Last year, Peter Döhle, which claims control of more than 300 tramp-owned containerships, ordered four newbuilds at CSSC-affiliated Hudong-Zhonghua after a break of nearly nine years. Those ships, costing about $150m each, will have a capacity of 14,000 teu, be scrubber-fitted, methanol-ready, and delivered in 2027.

port-and-ship

12 March 2025

Splash 247

American Private Equity Takes Over Leading Ship SupplierJ.F. Lehman & Company (JFLCO), a US private equity firm, has bought ship supplies specialist Wrist from Altor Fund II (Altor). No price has been revealed for the acquisition. “Wrist is an outstanding fit with our investment strategy. Its strong positioning with blue-chip customers, differentiated logistics capabilities and innovative digital solutions are transforming the maritime supply chain,” said Will Hanenberg, managing director at JFLCO and the new chairman of Wrist. Over the past 17 years, Wrist has grown fivefold, the company stated yesterday, with a global market share of about 12%.

port-and-ship

12 March 2025

Splash 247

Houthis Issue Warning To Israeli ShipsYemen’s Houthi group said Tuesday that they are resuming a ban on the passage of all Israeli ships in the Red Sea, Arabian Sea and Bab al-Mandab Strait after a four-day deadline they gave Israel to allow humanitarian aid into the Gaza Strip expired. Israel halted all aid supplies into Gaza on March 2 and, on Sunday, cut off electricity to the region, prompting a sharp response from Yemen’s Houthi movement. “Any Israeli vessel attempting to violate this ban will be subject to military targeting in the declared operational area,” the Houthis said in a statement posted on social media. The description of what constitutes Israeli in yesterday’s statement was deemed ambiguous by Ambrey, a British maritime security specialist. Ambrey is advising merchant shipping to check their affiliation with the Houthi target profile, and to reassess the risk to voyages through the Red Sea, and the Gulf of Aden. After more than 100 ships were attacked from late 2023 and throughout last year, the Houthis had ceased its campaign against merchant shipping this year, in line with the tentative peace deal struck between Israel and Hamas.

port-and-ship

12 March 2025

Port Calls

Matadi Gateway Terminal Undertakes Efficiency-Enhancing ProjectsMatadi Gateway Terminal (MGT), International Container Terminal Services, Inc.’s (ICTSI) operation in the Democratic Republic of the Congo, is undertaking several key projects this year aimed at enhancing operational efficiency and customer service. One of the major initiatives is the construction of a 2.65-kilometer road linking the Port of Matadi to the Kinkanda traffic circle via SEP (Services des Entreprises Pétrolières) Congo and RN (Route Nationale) 14, ICTSI said in a statement. The project consists of building 906 meters of new road and rehabilitating 1,746 meters of existing infrastructure. The first phase, covering the 1.75 km stretch between the Kinkanda traffic circle and Entrée SEP, was completed in June last year. The second phase, set to begin last month, will extend from MGT and exit east to the RN14-SEP Congo entrance. Upon completion, the improved roadway is expected to reduce container dwell times and streamline cargo deliveries for trucking companies. It will also help alleviate congestion in the western part of Matadi, benefiting both the terminal and the surrounding local community, ICTSI noted. In addition to the road project, MGT also plans to expand its storage yard to accommodate the consistently growing cargo volumes. This expansion is key to maximizing storage capacity and ensuring the terminal meets growing customer demand, ICTSI said. Further enhancing accessibility and the overall experience for clients and port users, MGT is extending its parking area for clients and stakeholders. A new pedestrian walkway is also being built to enhance safety for visitors. “Overall, MGT’s objective is not only to continuously improve its operations and customer service, but also to contribute to the creation of indirect jobs in Matadi,” ICTSI said. MTD is a joint venture between ICTSI and La Société De Gestion Immobilière Lengo (SIMOBILE) to develop a container and general cargo terminal along the river bank of the Congo River at Mbengu Matadi. SIMOBILE is a concessionaire of a parcel of land along the Congo river in the district of Mbengu, Township of Matadi, intended for port use. Aside from MTD, ICTSI manages three other terminals in Africa, namely Kribi Multipurpose Terminal in Cameroon, Onne Multipurpose Terminal in Nigeria, and Madagascar International Container Terminal.

port-and-ship

12 March 2025