port-and-ship
Apr 02, 2025
Hellenic shipping news
in Freight News
02/04/2025
Russia’s exports of liquefied natural gas (LNG) in the first three months of the year declined by 1.2% from a year earlier to 8.1 million metric tons, LSEG preliminary data showed on Tuesday, amid sanctions.
Russia has struggled to raise LNG exports in the face of U.S. restrictions over its invasion of Ukraine. Its new Arctic LNG 2 plant has been effectively frozen because it was unable to find buyers owing to Western sanctions.
Two sources said that Arctic LNG 2 has resumed processing last month albeit at a slow rate.
In March alone, Russia’s LNG exports rose by 3.7% to 2.8 million tons from 2.7 million tons in the same month a year ago, according to LSEG data.
Russia’s LNG exports to Europe in January-March declined 12.5% year on year to 4.2 million tons, while supplies in March in this direction fell by 16.5% to 1.37 million tons, as sanctions on transhipment took effect last month.
Novatek’s Yamal LNG plant raised total exports in March by 3.6% year on year to 1.75 million tons. In the first quarter, supplies from the plant edged up to 5 million tons from 4.9 million tons in the same period in 2024.
Sakhalin-2, controlled by Gazprom, exported 900,000 tons from the Pacific island in March, up 12.5% from the same month in 2024. Exports from the project rose to 2.7 million tons year-to-date from 2.6 million in the first quarter 2024.
Gazprom’s small-scale Portovaya LNG on the shores of the Baltic Sea was put under U.S. sanctions in January. It loaded an LNG cargo to floating storage and regasification unit (FSRU) Marshal Vasilevskiy last month.
U.S. President Donald Trump has said he wants the EU to buy more U.S. LNG and that he will make more of it available.
Source: Reuters
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Hellenic shipping news
Trump'S Reciprocal Tariff Plan Amplifies Risk Of Ocean Shipping Chaos, Executives Sayin International Shipping News
03/04/2025
U.S. President Donald Trump’s new tariff plan has the ocean shipping industry on edge as he stokes a trade war destined to stanch transport demand and send companies scrambling to manage the fallout.
The Trump administration on Wednesday is set to announce “reciprocal tariffs” targeting nations that have duties on U.S. goods. That move would come after it slapped new import levies on products from Mexico, China and Canada – the top U.S. trading partners – as well as on goods including steel and autos.
Major global container shipping firms like MSC, Maersk, CMA and Hapag-Lloyd transport towering piles of colorful boxes stuffed with goods for U.S. customers like Walmart WMT, Target TGT and Home Depot HD.
They are giants in the roughly $14 trillion a year ocean shipping industry that handles about 80% of global trade. They are also reliant on companies that are getting whipsawed by Trump’s escalating, on-and-off tariffs.
“The implementation of stacked tariffs has led to mounting confusion,” said Blake Harden, the Retail Industry Leaders Association’s vice president of international trade. “Companies have not had adequate time, certainty, and guidance they need to incorporate these changes and comply.”
Trump has invoked emergency powers to swiftly add, and occasionally retract and reinstate, tariffs during his second term in office.
“Importers don’t know from one week to the next what their duty cost is going to be,” said Kit Johnson, director of import compliance at John S. James Co., a U.S. customs broker and freight forwarder whose customers include automakers and producers of chemicals, machinery, medical devices and textiles.
Johnson has seen an uptick in customers opting for high-cost air shipping for autos and other goods that normally would travel by sea, in a bid to front-run new tariffs.
U.S. container imports have also surged to record levels in recent months as companies rushed in toys, furniture, bedding, machinery and parts from China, the world’s No. 1 exporter, to avoid Trump’s tariffs.
As that threat expanded, other vessel types and airplanes have been called to help U.S. firms stockpile cars from Europe and the Far East, cheese and wine from Italy, and prescription drugs from Ireland.
The average on-demand spot rate to ship a 40-foot container on the key Far East to U.S. West Coast route was $2,844 on Tuesday, a one-day gain of almost 16%, according to data from freight pricing platform Xeneta. That rate is still lower than a year ago, when the risk of Houthi attacks on Red Sea shipping lanes was a new phenomenon and trading was not distorted by importers seeking to avoid tariffs.
TARIFFS TAKE A BITE
But companies’ knee-jerk, front-loading strategy is just a temporary fix – especially as retaliatory tariffs stoke trade wars that could suffocate demand.
The tariff tiffs come as ocean shipping faces greater potential peril from a separate Trump plan to impose hefty U.S. port call fees on ships with links to China.
Foes of that proposal say it could decimate domestic agriculture and energy exporters that Trump promised to support. They also warn it could reignite pandemic-level chaos at ports by prompting vessel operators to avoid fees by swamping some ports with cargo while starving others.
Layering that on top of tariffs has paralyzed decision-making around how to source, sell and move goods.
“You cannot make important decisions on your supply chain when the rules of the game keep changing,” said Peter Sand, Xeneta’s chief analyst.
One Greek container shipping executive, who requested anonymity due to fear that public comments could negatively affect business, said customers were not loading cargo for fear that a large levy might be imposed at the end of a lengthy ocean voyage.
“We are in a wait-and-see mode.”
Experts have begun counting the harm from Trump’s tariffs.
Anxiety over the levies already has helped derail a turnaround in the U.S. manufacturing sector that relies on imports and exports and drives significant demand for transportation, according to responses to the Institute for Supply Management survey.
S&P Global Market Intelligence expects the volume of U.S. ocean container freight imports to drop 0.7% in 2025.
“While there is still strong growth in the first quarter, this is expected to reverse in the second quarter of 2025 as tariffs bite,” S&P said.
Meanwhile, U.S. Customs and Border Protection is scrambling to reprogram and test systems needed to calculate and collect new tariffs. The Trump administration in February delayed a plan to begin collecting duties on direct sales of low-value goods from retailers like Temu PDD and Shein after packages piled up at New York’s John F. Kennedy International Airport.
“The more of these tariffs we have, the harder it’s going to be for everyone to keep up,” customs broker Johnson said.
Source: Reutersport-and-ship
03 April 2025
Hellenic shipping news
Asia Distillates: Upbeat Window Activity; Physical Deal Emerges After A Weekin General Energy News
03/04/2025
Asia’s middle distillates markets saw more upbeat physical and paper market activity on Wednesday, with a deal emerging at the window for the first time in a week, though May refiner spot discussions remained illiquid.
Some worries on the macroeconomic front, given the announcement of U.S. tariffs later in the evening, remained prevalent.
April paper markets were also heavily discussed, with buyers aplenty.
At the market’s close, refining margins dipped by almost $1 to around $13.40 a barrel.
On the spot trading window, deals were done at slightly lower premiums from a day earlier against a backdrop of softer timespreads between April and May cargoes.
The 10ppm sulphur gasoil cash differentials slipped to 17 cents per barrel.
Regrade spread was little changed at discounts of around $1 a barrel.
SINGAPORE CASH DEALS
– One gasoil deal, no jet fuel deal
INVENTORIES
– U.S. crude oil inventories rose while fuel inventories fell last week, market sources said, citing American Petroleum Institute figures on Tuesday.
– Middle distillates stocks held at Fujairah Oil Industry Zone gained to 3.053 million barrels, the highest since early September, in the week ended March 31, according to industry information service S&P Global Commodity Insights.
NEWS
– Venezuela’s exports of crude oil and fuel fell 11.5% in March month-on-month as Washington’s imposition of secondary tariffs and the cancellation of key licenses to operate in the U.S.-sanctioned energy sector led to delays and cargo suspensions, according to ship tracking data and documents.
– Oil prices steadied in thin trading on Wednesday after falling in the previous session on concerns that new U.S. tariffs, set to be unveiled at 2000 GMT, may deepen a global trade war that could limit crude demand.
– Russia, the world’s second-largest oil exporter, on Wednesday imposed restrictions on another major oil export route, suspending a mooring at the Black Sea port of Novorossiisk only a day after restricting loadings from a key Caspian pipeline.
Source: Reutersport-and-ship
03 April 2025
Hellenic shipping news
Venezuela'S Oil Exports Fall 11.5% Over Us Tariffs And Sanctions, Shipping Data Showin Freight News
03/04/2025
Venezuela’s exports of crude oil and fuel fell 11.5% in March month-on-month as Washington’s imposition of secondary tariffs and the cancellation of key licenses to operate in the U.S.-sanctioned energy sector led to delays and cargo suspensions, according to ship tracking data and documents.
U.S. President Donald Trump’s administration announced last week a 25% tariff on nations buying Venezuelan crude and gas, which will begin this week, and notified foreign partners of state-run oil company PDVSA it would revoke the authorizations it had granted to them to operate and export from the OPEC country.
The measures followed the suspension of a key license for U.S. Chevron CVX to produce oil in Venezuela and export it to the United States, which last year was the second largest market for Venezuela’s crude. The Treasury Department set May 27 as the deadline for the companies to wind down operations and exports.
Regular buyers of Venezuelan crude in China and India have suspended some cargoes for late March and April loading following the announcements.
In total, 42 vessels departed Venezuelan waters in March carrying 804,677 barrels per day of crude and fuel, and 341,000 metric tons of oil byproducts and petrochemicals, according to the data and internal PDVSA documents.
The March average was 7.8% below exports in the same month of 2024 and the lowest since December.
China was again the largest receiver of Venezuelan crude in March with 483,700 bpd, followed by the U.S. with 210,700 bpd, India with 60,160 bpd and Cuba with 50,130 bpd.
There were no crude exports to Europe last month. However, some European partners of PDVSA are scheduling and loading what could be their last cargoes before the end of the wind-down period, the documents showed.
Venezuelan Vice President Delcy Rodriguez said late on Tuesday in a post on Telegram that the figures published by Reuters were wrong and that oil exports had risen 8.78% in March. She provided no evidence for the figure nor any details.
The government of President Nicolas Maduro has always rejected sanctions by the United States and others, saying they are illegitimate measures that amount to an “economic war” designed to cripple Venezuela.
Crude and fuel exports from Venezuela fell to their lowest since December as customers braced for US secondary tariffs and the cancellation of key authorizations for foreign firms to operate in the country.
Two vessels have left Venezuelan waters without loading since February as Trump’s pressure over the South American country has increased and Washington accused Maduro’s administration of not doing enough to curb illegal migration to the U.S.
Other tankers spent weeks near Venezuelan ports even after receiving PDVSA’s authorization to load, as many customers and ship owners wait to see how Trump’s administration will apply the secondary tariffs.
More than 80 vessels were in or near Venezuelan waters this week, of which 35 were laden but have not left, according to satellite images analyzed by monitoring service Tankertrackers.com.
If sustained, the U.S. measures are expected to hit Venezuela’s main source of revenue in the coming months as happened in 2020 when the U.S. imposed secondary energy sanctions on the country, experts have said.
But the nation could also find new ways to allocate its crude in Asia through third countries and trans-shipments at sea, a work-around solution other sanctioned oil producers and Venezuela have resorted to in recent years.
Source: Reutersport-and-ship
03 April 2025
Hellenic shipping news
Russian Crude Exports Hit Four-Month High, But Buyers Under Us Scrutinyin Freight News
03/04/2025
Seaborne Russian crude exports reached a four-month high in March, according to ship-tracking data, but when those barrels will reach end-buyers remains to be seen amid US threats.
Preliminary figures from S&P Global Commodities at Sea(opens in a new tab) show Russian crude liftings amounted to roughly 3.51 million b/d in March, up from 3.16 million b/d in February and the highest since November 2024.
The robust exports came as March’s average price for Russia’s flagship export grade, Urals, was assessed by Platts down 4.7% month over month at $57.421/b on a free-on-board Primorsk basis, the lowest since June 2023.
G7 countries and their allies set the price cap for Russian crude at $60/b, so the Urals weakness suggested tanker operators could generally trade in Russia without worries over Western sanctions.
The OPEC+ producer exported 1.58 million b/d to India, the top buyer of Russian oil, in March, slightly down from 1.69 million b/d in February, while exports to China dropped to 933,000 b/d from 1.06 million b/d.
But the figures could be revised upwards later as the destinations of 373,000 b/d of Russian exports last month are unknown as of April 1, according to CAS.
While tanker operators usually would provide more indication on where their ships are sailing to later in the month, Russia has strong incentives to disguise its cargo flows as its buyers could draw the ire of Washington.
On March 30, US President Donald Trump threatened to impose within a month a 25%-50% secondary tariff on countries that import Russian oil if President Vladimir Putin blocks a deal to end the conflict in Ukraine.
“If Russia and I are unable to make a deal on stopping the bloodshed in Ukraine, and if I think it was Russia’s fault … I am going to put secondary tariffs on oil, on all oil coming out of Russia,” Trump told NBC news.
Syrian demand
Moreover, CAS data shows 225,000 b/d of Russian exports last month have been destined for Egypt, a top transshipment center where ship-to-ship transfers often take place.
The amount of Russian crude reloaded via STS reached 143,400 b/d in February, with a further 147,800 b/d in offshore transfers during March 1-27, according to CAS, and these STS transfers were predominantly carried out in Egyptian waters.
Separately, Russia also in March exported 110,000 b/d of Novy Port grade to Syria in March, the first shipments to the war-torn country since the militant group Hayat Tahrir al-Sham deposed President Bashar Assad in December 2024.
Despite being one of Assad’s key patrons, Russia could use oil as a likely bargaining chip with HTS to retain its naval base in Tartus, according to analysts.
New crude supply from Russia flows could offer a lifeline for Syria’s crude-starved refineries, Banias and Homs, which have been crippled by the loss of Iranian oil.
Product flows
Meanwhile, Russia’s seaborne exports of clean petroleum products marginally fell to 1.57 million b/d in March from 1.64 million b/d in February, while residues and fuel export exports rose to 636,000 b/d from 608,000 b/d.
The frequency of reported Ukrainian drone attacks on Russian refineries reduced in March, as the two sides agreed to the US that they would halt attacks on energy infrastructure for 30 days.
But the Kyiv Independent, citing presidential adviser Dmytro Lytvyn, reported that Ukraine confirmed eight hits against its energy facilities by Russian forces since March 18, when the Kremlin claimed to have ordered a pause on such attacks.
Meanwhile, Russia’s defense ministry said a Ukrainian drone attack on March 18-19 damaged an oil facility in the south of Russia, which supported the transshipment of crude from railway cars to the Caspian Pipeline Consortium.
However, CPC distanced itself from such a claim, with a spokesperson saying the targeted facility was not part of the pipeline system.
Source: Plattsport-and-ship
03 April 2025
Hellenic shipping news
Alfa Laval Expands Its Portfolio With Ultrasonic Anti-Fouling Technology By Acquiring Nrg Marinein International Shipping News
03/04/2025
Alfa Laval has completed the acquisition of UK-based NRG Marine, a leading provider of ultrasonic anti-fouling technology for marine, oil-and-gas and industrial applications. This strategic move strengthens Alfa Laval’s capabilities toward enhancing energy efficiency and operational performance while reducing costs and extending asset lifespan.
Expanding footprint to address market needs
Rising energy costs, CII improvement and evolving regulations are accelerating the shift toward future-proof, eco-friendly innovations that optimize operations, support decarbonization and reduce environmental impact. Ultrasonic anti-fouling technology is one such immediate opportunity for industries to improve their operations sustainably.
This move strengthens Alfa Laval’s position as a provider of next-generation solutions for multiple sectors. With the addition of ultrasonic anti-fouling technology, Alfa Laval will enable its customers to benefit from solutions that prevent organic matter buildup on the surface of critical assets in a sustainable way, thereby increasing equipment efficiency.
“This acquisition is a strategic step towards offering solutions that enhance operational efficiency and minimize environmental footprint, supporting industry’s net-zero objectives,” says Sameer Kalra, President, Marine Division, Alfa Laval. “By integrating ultrasonic anti-fouling technology into our portfolio, we aim to expand its reach and impact, empowering customers across marine, oil and gas, and industrial sectors with greater energy optimization and performance improvements.”
Enhancing efficiency with innovative technology
NRG Marine, recognized for its Sonihull and Agitate brands, prevents organic deposit buildup by using imploding microscopic bubbles to create surface agitation, passively cleaning surfaces and preventing biofouling of critical components.
Installing the system improves the equipment’s performance and lifespan, reduces system downtime, and lowers maintenance and cleaning costs. The system’s low cost compared to the value gained from reduced fouling and improved maintenance cycles offers attractive returns on investment for all sectors.
In addition to the operational benefits, anti-fouling systems play an important role in reducing fuel consumption and improving vessel CII in the maritime industry. They also mitigate the risk of spreading invasive species, further supporting sustainability efforts and other environmental metrics.
The system provides reliable, low-maintenance biofouling prevention, critical for enhancing uptime and minimizing operational risks in industrial operations. It ensures the uninterrupted cleanliness of internal pipes and valves, keeping operations running smoothly without downtime.
In the oil and gas sector, this system prevents biofouling on stationary surfaces. Being ATEX-approved, it complies with required safety standards, ensuring reliability and safety.
The ultrasonic anti-fouling technology offers a chemical-free, energy-efficient alternative to traditional anti-fouling approaches, making it a sustainable choice for businesses looking to protect the environment with green technology.
Other key acquisitions driving efficiency
In recent years, Alfa Laval has strategically expanded its portfolio through key acquisitions to meet market demands for energy efficiency and decarbonization with high-impact solutions. The recent acquisitions include StormGeo, a leader in weather intelligence and advanced data science solutions; Scanjet, an expert in tank management solutions; and Marine Performance Systems, a company specializing in fluidic air lubrication systems, now selling Alfa Laval systems under the name OceanGlide.
Additionally, Alfa Laval has strengthened its market position through collaborations such as Oceanbird, a joint partnership between Alfa Laval and Wallenius, to advance wind-assisted propulsion technology for a more sustainable future.
Source: Alfa Lavalport-and-ship
03 April 2025
Hellenic shipping news
Russia Imposes Further Restrictions On Black Sea Oil Export Portsin Port News
03/04/2025
Russia, the world’s second-largest oil exporter, on Wednesday imposed restrictions on another major oil export route, suspending a mooring at the Black Sea port of Novorossiisk only a day after restricting loadings from a key Caspian pipeline.
Russia produces about 9 million barrels of oil a day, or just under a 10th of global production. Its ports also ship oil from neighbouring Kazakhstan.
The restrictions were imposed as U.S. President Donald Trump has said he is unhappy with Russia and the rate of progress in peace talks with Ukraine, and threatened to impose secondary tariffs on buyers of Russian oil.
Russia’s oil pipeline monopoly Transneft TRNFP said it had suspended a mooring at Novorossiisk for 90 days after a snap inspection by a transport watchdog.
The Novorossiisk Commercial Sea Port (NCSP) is one of Russia’s largest export outlets and the closure of one mooring is unlikely to affect its operations significantly.
“A temporary ban on operations has been imposed on oil loading berth 8. NCSP has been ordered to eliminate all identified violations by June 30, 2025,” Transneft said.
Industry sources said that Berth 8 at the Sheskharis terminal handles low-sulphur diesel tankers with a deadweight of around 7,000 metric tons, mainly carrying exports to Turkey and Georgia.
An industry source also said that the berth is used to deal with small-scale vessels of up to 10,000 tons of oil products.
LSEG and industry sources’ data showed that the berth handled around 100,000 tons of diesel in January-March.
Two of three moorings at a nearby terminal of the Caspian Pipeline Consortium, in which U.S. oil majors Chevron CVX and Exxon Mobil XOM hold stakes, were closed on Monday following the regulator’s checks.
Kremlin spokesman Dmitry Peskov told reporters on a conference call that the restrictions on CPC are related to Ukrainian drone attacks on the infrastructure.
Ukraine accused Russia of launching new attacks against its energy facilities.
Ukrainian President Volodymyr Zelenskiy said a Russian drone hit an energy substation in Sumy region and artillery fire damaged a power line in Dnipropetrovsk, cutting off electricity to nearly 4,000 consumers.
Oil exports via the CPC pipeline have been set at 1.7 million barrels per day, or around 6.5 million metric tons, for April.
CPC buyers have said they are waiting for the revised loading programme. Both Kazakhstan and Chevron said on Tuesday that the flows via the pipeline were not interrupted.
Source: Reutersport-and-ship
03 April 2025
port technology international
Port Houston Adds Hybrid Rtgs Cranes At Bayport TerminalThese RTGs will be Port Houston’s first “one-over-six” stacking units, raising the standard and expanding the hybrid fleet to 46.
This purchase, Port Houston’s second-largest crane acquisition, will help optimise terminal space.
The port announced that the U.S. Army Corps of Engineers (USACE) is set to begin construction of the Beltway 8 Dredged Material Placement Area for Project 11 in May.
Port Houston recently submitted a letter of intent (LOI) to USACE for a feasibility study on Project 12, the next deepening project for the Houston Ship Channel, authorised by WRDA 2024.
In January, the Department of Transportation (DOT) and the Federal Highway Administration (FHWA) announced that the Port of Houston Authority received almost $25 million in grant funds.
One month later, Port Houston’s container volumes were down 5 per cent year-to-date (YTD), but general cargo is up 9 per cent, fueled by strong lumber and plywood volumes.port-and-ship
02 April 2025
maritime gateway
Government Approves Export Of Key Commodities To Maldives For 2025-26India notified exports of specified quantities of commodities like eggs, potatoes, onions, rice, wheat flour, sugar, and dal for the Maldives in the current fiscal year. The Directorate General of Foreign Trade (DGFT) in a notification said these exports have been permitted to the Maldives under the bilateral trade agreement between the countries in 2025-26.
“Export of eggs, potatoes, onions, rice, wheat flour, sugar, dal, stone aggregate and river sand to Maldives has been permitted under the bilateral trade agreement between India and Maldives for 2025-26,” the DGFT said in a notification.
The export of these items to the Maldives will be exempted from any existing or future restriction/prohibition during this period. Items which are restricted or prohibited will be allowed only through the six designated customs ports including Mundra, Tuticorin, and Kandla.
The specified quantity allowed includes potatoes (22,589 tonnes), onions (37,537 tonnes), rice (1,30,429 tonnes), wheat flour (1114621 tonnes), sugar (67719 tonnes), dal (350 tonnes), stone aggregate (13 lakh tonnes) and river sand (13 lakh tonnes). It said that for the exports of river sand and stone aggregate, CAPEXIL (a body to promote the export of chemical and allied products) will ensure that the suppliers/extractors have obtained appropriate environmental clearances and that mining of the sand is not undertaken in the coastal regulation zone area, which is prohibited under the coastal regulation zone notification.
Exporters have to obtain necessary environmental clearances from the designated nodal authority of respective state governments from where sand is obtained. The 1981 India and Maldives trade agreement provides for the export of essential commodities. There has been an increase in the quotas for eggs, potatoes, onions, sugar, rice, wheat flour and dal (pulses).
Surrounded by the ocean, the islands in the Maldives and the many atolls don’t have enough river sand to support their construction industry, hence the need for importing sand and stone aggregates to the country. The bilateral trade between the two countries has increased to $978.53 million in 2023-24 from about $973.37 million in 2022-23.port-and-ship
02 April 2025
port technology international
Yang Ming Acquires Three Japanese Methanol Dual-Fuel ShipsThese vessels, currently under construction by Japanese Imabari Shipbuilding, are set for delivery between 2028 and 2029.
This strategic move is part of Yang Ming’s fleet optimisation plan, which aims to enhance its global service network and commitment to sustainable transportation.
This acquisition marks the first phase of Yang Ming’s plan to acquire 13 containerships, including six 8,000 TEU-class dual-fuel-ready vessels and up to seven 15,000 TEU-class LNG dual-fuel-fitted vessels.
READ: Yang Ming nears $7 billion revenue in 2024
“The new vessels will be equipped with energy-efficient main engines, ensuring immediate energy savings while maintaining flexibility for the future adoption of alternative fuels,” stated a Yang Ming representative.
In December 2024, Yang Ming unveiled its 2025 Trans-Atlantic services.port-and-ship
02 April 2025
Hellenic shipping news
Owner Of Cargo Ship Which Hit Us Tanker Sets Up Uk Fund For Lawsuitsin International Shipping News
02/04/2025
The owner of a cargo ship that struck a U.S. military-contracted tanker off England’s northeast coast last month said on Monday it is setting up a fund for potential lawsuits over the collision.
MS Solong Schiffahrtsgesellschaft M & Co KG, a subsidiary of Ernst Russ HXCK which owns the Portuguese-flagged container ship Solong, was sued at London’s High Court on Monday by the operators of the Stena Immaculate, which the Solong hit on March 10, according to court records.
The Ernst Russ subsidiary brought a separate case at the specialist Admiralty Court last week, seeking a “limitation of liability”.
That case is being brought against Dutch logistics firm Samskip, which previously said the Solong was carrying Samskip containers, and “all other persons claiming or being entitled to claim loss or damage” over the collision.
A spokesperson for Ernst Russ said in a statement that it was setting up a “limitation fund” which will be available for “parties who have verified claims against Solong’s owner”.
“The incident occurred in territorial waters of the UK and there are interested parties and potential claimants residing in the UK, such as public authorities, hence the setting up of a fund in the UK is the most appropriate way forward,” they added.
“Owners of the Solong are seeking to face claims and ensure a fund is available for any proven claims. This is usual process for large maritime casualties and the fund provides necessary security for potential claimants’ claims.”
The Solong crashed at close to full speed into the Stena Immaculate, an anchored tanker operated by Crowley that was carrying jet fuel. Crowley declined to comment.
A member of the Solong’s crew is still missing and presumed dead. Vladimir Motin, the Solong’s captain, has been charged with manslaughter by gross negligence.
Source: Reutersport-and-ship
02 April 2025Hellenic shipping news
Russia'S Lng Exports Down 1.2% Y/Y In Q1, Data Showsin Freight News
02/04/2025
Russia’s exports of liquefied natural gas (LNG) in the first three months of the year declined by 1.2% from a year earlier to 8.1 million metric tons, LSEG preliminary data showed on Tuesday, amid sanctions.
Russia has struggled to raise LNG exports in the face of U.S. restrictions over its invasion of Ukraine. Its new Arctic LNG 2 plant has been effectively frozen because it was unable to find buyers owing to Western sanctions.
Two sources said that Arctic LNG 2 has resumed processing last month albeit at a slow rate.
In March alone, Russia’s LNG exports rose by 3.7% to 2.8 million tons from 2.7 million tons in the same month a year ago, according to LSEG data.
Russia’s LNG exports to Europe in January-March declined 12.5% year on year to 4.2 million tons, while supplies in March in this direction fell by 16.5% to 1.37 million tons, as sanctions on transhipment took effect last month.
Novatek’s Yamal LNG plant raised total exports in March by 3.6% year on year to 1.75 million tons. In the first quarter, supplies from the plant edged up to 5 million tons from 4.9 million tons in the same period in 2024.
Sakhalin-2, controlled by Gazprom, exported 900,000 tons from the Pacific island in March, up 12.5% from the same month in 2024. Exports from the project rose to 2.7 million tons year-to-date from 2.6 million in the first quarter 2024.
Gazprom’s small-scale Portovaya LNG on the shores of the Baltic Sea was put under U.S. sanctions in January. It loaded an LNG cargo to floating storage and regasification unit (FSRU) Marshal Vasilevskiy last month.
U.S. President Donald Trump has said he wants the EU to buy more U.S. LNG and that he will make more of it available.
Source: Reutersport-and-ship
02 April 2025Hellenic shipping news
Top Japanese Shipping Line Fears Us Tariffs Will Slow Cargo Flows, President Saysin International Shipping News
02/04/2025
Nippon Yusen (NYK), Japan’s largest shipping line, is concerned that U.S. President Donald Trump’s tariffs could push up the cost of automobiles and daily goods, denting consumer demand and slowing cargo flows, its president said.
“The tariffs are not directly borne by consumers, but the burden ultimately falls on them, which in turn reduces the actual flow of goods. That’s our biggest concern,” President Takaya Soga told Reuters in an interview on Monday.
Trump last week unveiled plans to impose a 25% tariff on automobile imports, a move expected to hit Japan’s export-driven economy. He has also vowed to announce reciprocal tariffs targeting all trading partners on Wednesday.
“Tariffs could have a considerable impact on the economy,” Soga said, adding that the extent of the impact on shipping and logistics companies will depend on actual cargo movements.
However, Soga sees potential benefits from the trade war. As seen during the COVID-19 pandemic, even if cargo volumes decline, tariff-related procedural delays could disrupt logistics, tighten ship demand and lift freight rates, he said.
And if China shifts to sourcing raw materials from outside the U.S., NYK could find business opportunities.
A rush for general consumer goods drove up cargo movement in December until just before the Chinese New Year in anticipation of U.S. tariffs, but there has been no major shift in material flows since they took effect, Soga said.
The United States is also planning to charge fees for docking at U.S. ports on any ship that is part of a fleet that includes Chinese- built or Chinese-flagged vessels and will push allies to do similar or face retaliation.
The U.S. government will carefully examine the policy, including whether it will be implemented, so we cannot say now that we will stop ordering vessels from China,” he said.
With ongoing geopolitical risks in the Middle East, Soga expects Red Sea avoidance to continue for a while. Disruption in the Red Sea due to attacks by Yemen’s Houthi militants absorbed extra capacity last year, as many ships took a longer route around Southern Africa.
While container vessel congestion in the Panama Canal has largely been resolved, NYK is urging the Panama Canal Authority to reinstate Tier 1 priority for liquefied natural gas (LNG) tanker traffic, Soga said.
Regarding the investment plans in vessels involved in offshore wind power projects, Soga said the company’s plans in Japan may be delayed due to slower-than-expected market development, but overseas investments will proceed sooner.
Source: Reutersport-and-ship
02 April 2025Hellenic shipping news
Intermodal Weekly Market Report Week 13 2025 Broker’S Insightin Weekly Shipbrokers Reports
02/04/2025
As the first quarter of the year concludes, it is insightful to examine the dynamics of newbuilding activity in the two main conventional shipping sectors
Source: Intermodalport-and-ship
02 April 2025Hellenic shipping news
Banchero Costa Weekly Market Report, Week 13 2025in Weekly Shipbrokers Reports
02/04/2025
After a positive 2023, when global crude oil loadings increased by +4.6% y-o-y, things got much quieter in 2024.
Source: banchero costa &c s.p.aport-and-ship
02 April 2025Hellenic shipping news
Top Coal Importers Slow Purchases So Far In 2025in Dry Bulk Market,Freight News
02/04/2025
The world’s largest thermal coal buyers tapped the brakes on imports during the first quarter of 2025, driving purchases to the lowest quarterly total in three years, data from ship tracking firm Kpler shows.
Global coal imports for the first quarter were just over 240 million metric tons, roughly 10 million tons less than was shipped during the same quarter a year ago.
China, India, Japan and South Korea – the top global coal importers in 2024 – all reduced first-quarter purchases by more than 10% from the same period in 2024, as sharply higher clean power generation allowed for their utilities to cut coal use.
Continued growth in clean power output may allow for further cuts to coal imports in the top coal markets over the coming months and could trigger their first collective contraction in thermal imports since 2020.
Top global thermal coal importers slow purchases during Q1 2025
Thomson ReutersTop global thermal coal importers slow purchases during Q1 2025
However, several smaller fast-growing economies have expanded coal purchases so far this year, which has somewhat offset the cuts seen into the largest markets and prevented total coal imports from registering a steeper decline.
KEY CUTS
The top four coal importers, which accounted for 69% of all coal imports in 2024, have been the most aggressive import cutters so far in 2025.
China, the world’s largest coal consumer, led the import reductions by lowering first-quarter purchases to 67 million tons from nearly 85 million tons in the first quarter of 2024.
That was China’s lowest quarterly import tally since the third quarter of 2022. Sluggish industrial activity and record domestic coal production last year have curbed China’s coal import appetite.
India’s first-quarter import total was just under 39 million tons, down 5.6 million tons from the same quarter last year.
Indian authorities have prioritized boosting domestic coal production over imports, which has resulted in India’s average import pace falling from around 45 million tons a month in late 2023 to around 37 million tons a month since mid-2024.
South Korea registered the next-largest cut to first-quarter imports, which totaled 15.3 million tons compared to 18.6 million tons in 2024. Record nuclear power output has spurred utilities there to pare coal and gas-fired generation.
Japan’s first-quarter import tally was just over 25 million tons, down from 27.8 million tons during the first quarter of 2024 and the lowest first-quarter reading since 2018.
All told, the four largest coal importers reduced their collective imports by nearly 30 million tons in the first quarter of 2025 from the same months in 2024.
GROWTH MARKETS
While the largest traditional coal importers have made cuts to coal purchases so far this year, other nations have expanded their coal import volumes.
Indeed, total imports outside of China, India, Japan and South Korea accounted for the largest share of total coal imports in three years during the first quarter of 2025.
Turkey, Vietnam and Bangladesh all registered record first-quarter import tallies in 2025, while the Philippines and Malaysia both recorded their second-highest first-quarter import totals.
Thailand, Pakistan, Hong Kong, Morocco and the Netherlands – the main seaborne entry point into continental Europe – also recorded robust first-quarter import totals.
Thermal coal imports by top 4 importers vs Rest of World
Thomson ReutersThermal coal imports by top 4 importers vs Rest of World
The volume increases seen into these second-tier markets are small compared to the nearly 18 million ton drop recorded into China so far this year.
But the nearly 2 million ton climb in imports by Turkey, the 1.5 million ton rise in imports into the Netherlands, and the roughly 1 million ton climbs seen into Bangladesh, Hong Kong and Vietnam can add up to significant tonnage if sustained all year.
What’s more, there were roughly 43 million tons of coal cargoes dispatched during March that have yet to be rectified by Kpler’s trade-matching system.
Once cleared, those volumes will likely elevate the delivery volumes into all major coal importing nations during the second quarter of 2025, and prop up coal trade flows even during what is traditionally the low point for global coal use.
That said, the steep import drops seen already into China and India in particular bode well for climate trackers who are hoping for signs of a long-term downturn in global coal imports.
And even if import volumes continue to climb into the likes of Turkey and Vietnam, a sustained drop in the collective coal imports by the four largest importers should trigger an overall contraction in global coal shipments by year-end.
Source: Reutersport-and-ship
02 April 2025Hellenic shipping news
Top Takeaways From Usda'S Planting And Stocks Reportsin Commodity News
02/04/2025
Against typical form, the U.S. Department of Agriculture’s March acreage and stocks data on Monday offered none of the bombshells that market participants usually brace for.
Corn and soybean estimates were largely well-anticipated, and this could be viewed from two angles.
The reports provided nothing bearish, possibly preventing a further slide in prices after what has been a tumultuous few weeks for bulls.
But the data did not reveal anything particularly bullish for corn and beans, which could have speculators feeling relieved after their recent selloffs.
Combined, March 1 corn and soybean stocks were the least controversial in over two decades when compared with trade estimates.
Plantings brought a bit more drama, and these figures warrant more attention, particularly when it comes to the upcoming implications.
ACRES
U.S. corn plantings could have been viewed as bearish, coming in at a 12-year high of 95.3 million acres, almost 1 million above the average trade guess and up 5.2% on the year.
But secretly, the trade likely expected this number as evidenced by a mere half-cent-per-bushel drop in December CBOT corn futures (CZ25) during the session.
USDA’s survey showed 2025 principal crop plantings at the lowest levels reported by farmers in March in at least a decade, down 0.4% from last year. The shrinking pool of available U.S. crop acres was a potential limiting factor for corn this year, in addition to the fact that corn prices are not necessarily attractive.
But the alternatives are clearly much worse. Corn is set to account for 30.8% of total U.S. crop acres in 2025, breaking above the 29.6% limit that was reached three times in the last decade.
As such, soybean intentions came in below the average trade guess for the 14th time in the last 17 years. Total wheat acres landed below all trade guesses.
U.S. farmers are set to plant the smallest spring wheat area since 1970 and the smallest cotton area since 2015, and both of those figures barely landed within the trade estimate bounds.
Planted area for major U.S. crops: 2025 vs 2024
Thomson ReutersPlanted area for major U.S. crops: 2025 vs 2024
Traders might have been hoping for even lighter soybean plantings since global stocks are already ample. CBOT November soybeans (SX25) fell nearly 1% on Monday.
However, the soybean area of 83.495 million acres is the smallest reported by farmers in March since 2016.
LOOKING TO JUNE
Recall that March corn acres over the last two decades have never landed below the average trade guess when the new-crop Chicago soybean-corn futures ratio averaged 2.3 or below during February.
This also holds for the June survey when using either the February or March ratio averages, which were 2.24 and 2.25 this year, respectively. This means that corn acres could be bearish in June, barring any unforeseen weather or economic events.
Soybeans usually follow this same trend, but in the opposite manner where acres come in light when the ratio favors corn. However, in the recent six years where the March ratio was below 2.3, there was one instance (2008) where June soybean acres were bearish.
In general, corn acres tend to be bearish in June, landing above the average trade guess in seven of the last 10 years.
Corn acres typically rise between March and June. If removing 2019 and 2020, years with anomalous weather and economic troubles, it has been a decade since June corn acres landed below the March ones, and it was not by much.
June soybean acres have come in lighter than March for the past four years, though there are only five instances in the last decade, the other being 2019.
But the trade’s tendency is remarkable as June soybean acres have landed below the average trade guess for 10 consecutive years.
LOOKING TO MAY
Monday’s acreage estimates will make their first supply-and-demand impacts when USDA releases its initial 2025-26 balance sheets in May.
USDA in February tentatively projected 2025-26 U.S. corn production at 15.585 billion bushels with yield at 181 bushels per acre and plantings at 94 million acres. Ending stocks were slated at 1.965 billion bushels, up 28% on the year.
Keeping yield the same, the new corn area increases production by about 220 million bushels. A yield of 178.5 bpa, just shy of last year’s record 179.3, would negate any production gains due to the area.
For soybeans, USDA’s 2025-26 crop was pegged at 4.37 billion bushels back in February with a 52.5 bpa yield on 84 million planted acres. Ending stocks were placed at 320 million bushels, down 16% on the year.
Monday’s soy acres drop production by about 30 million bushels compared with February. Plugging in 2016’s record yield of 51.9 bpa cuts off about 80 million bushels. The five-year average yield of 50.7 would remove nearly 180 million bushels from the crop.
This exercise demonstrates that although the market has not been concerned about soybean supplies for a while, this could be subject to change in the coming months as the relatively light soybean acreage gives minimal wiggle room for yields.
Source: Reutersport-and-ship
02 April 2025Hellenic shipping news
Maritime Battery Forum (Mbf) And Zero Emission Shipping Technology Association (Zestas) Sign Memorandum Of Understanding (Mou) To Accelerate Zero-Emission Shippingin International Shipping News,Shipping: Emission Possible
02/04/2025
In a landmark moment for the global maritime industry, the Maritime Battery Forum (MBF) and the Zero Emission Shipping Technology Association (ZESTAs) have signed a Memorandum of Understanding (MOU) to formalize their collaboration in advancing zero-emission shipping technologies. The signing ceremony took place on onboard Yinson GreenTech’s Hydromover during the WATTS UP APAC conference, a premier event focused on maritime energy transition, held in Singapore on March 27, 2025.
The partnership between MBF, a leading organization promoting battery-powered maritime solutions, and ZESTAs, a global advocate for zero-emission shipping technologies, marks a significant step forward in the industry’s collective efforts to decarbonize and achieve sustainable shipping. The MOU outlines a framework for joint initiatives, knowledge sharing, and advocacy to accelerate the adoption of clean energy solutions in the maritime sector.
Sharing a common interest in promoting electrification as a means to decarbonization in the maritime sector, this partnership will focus on fostering collaboration and innovation among their respective members and exchanging information for mutual benefit as well as establishing a framework for cooperation that promotes joint objectives, enhances member experiences, and advances the sustainable development of the port and maritime sectors.
“This partnership with ZESTAs represents a powerful alignment of our missions to drive the maritime industry toward a sustainable future. By combining our expertise in battery technology with ZESTAs’ leadership in zero-emission advocacy, we can accelerate the transition to cleaner, more efficient shipping solutions” says Syb Ten Cate Hoedemaker, Managing Director, Maritime Battery Forum.
“An absolute zero emissions vessel is an electric vessel. Batteries and energy storage systems are fundamental to achieving the International Maritime Organization’s GHG strategy. Formalising what has always been a positive relationship between our organisations will allow us to increase the breadth and speed of our combined impact.” added Madadh MacLaine, Secretary-General of ZESTAs.
Source: Zero Emission Shipping Technology Association (ZESTAs) and Maritime Battery Forum (MBF)port-and-ship
02 April 2025marine insight
Chinese Bulker Sinks Within 5 Minutes After Colliding With Containership In NingboA newly delivered domestic containership collided with a dry bulk carrier in the early hours of March 29, 2025, in the waters near Yangmao Island, Ningbo.
According to the Ningbo Maritime Safety Administration, the dry bulk carrier sank immediately after the collision, killing one seafarer and injuring three others.
The incident happened at approximately 2:50 am when the containership Ningyuan Beilun (15,000 dwt) owned by Ningbo Ocean Shipping, collided with the dry bulk carrier Jianghai Zhida 66 (14,000 dwt).
The containership had recently entered service in February 2025 and was departing Ningbo with 934 twenty-foot equivalent units (TEU) onboard.
The Jianghai Zhida 66, which was built in May 2023 and operated by Zhoushan Hongtong Shipping Development Co, Ltd, was scheduled to load cargo at Ningbo Port before heading to Jiangyin Port.
After the collision, the Jianghai Zhida 66 started taking on water and sank within five minutes. All 13 crew members aboard were thrown into the sea.
A rescue operation was launched immediately and lasted about four hours. Nine crew members were rescued unharmed, while three were hospitalised. Unfortunately, one crew member was found dead.
The Ningyuan Beilun sustained only minor damage and is currently anchored at Zhoushan Anchorage as investigations continue.
Authorities have yet to determine whether the bulk carrier was loaded at the time of the incident. Maritime authorities have issued a navigation warning, advising all vessels to avoid the accident site at coordinates 29-54. 18N 122-10. 99E.
Per ShipView data, the Jianghai Zhida 66 was a small and flexible dry bulk carrier with an overall length of 129.7 meters and a width of 22.6 meters. It had a gross tonnage of 8,470 tons and a speed of 11 knots.
The Ningyuan Beilun, meanwhile, measured 136.1 meters by 25.0 meters, with a gross tonnage of 11,736 and a speed of 12.7 knots.
It departed Ningbo Meishan Island Container Terminal at 00:56 am and was scheduled to arrive at Zhapu Port by 5:30 pm on March 29, 2025.
Reference: xindemarinenews
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02 April 2025Splash 247
Ssy Breaks Into Ship RecyclingUK shipbroking group SSY is branching out into the recycling business.
The new unit will be headed up by Dubai-based recycling expert and former Braemar man Harry Conrad-Pickles.
The move into ship recycling by the London-headquartered group comes ahead of the Hong Kong Convention coming into effect in June and as around 15,000 ships are expected to be scrapped over the next decade.
“The recycling market is poised to enter a crucial and consequential period, and I’m eager to join SSY and take a proactive role in driving positive change in partnership with the firm’s outstanding global team. In doing so, we can provide our clients with the necessary expertise to help navigate through these regulatory shifts while providing maximum value and the highest environmental and compliance standards,” said Conrad-Pickles, who will join SSY this month.
Commenting on the broking group’s portfolio expansion, Stanko Jekov, SSY managing partner, added: “The recycling market is an area that we’ve been keen to enter for some time, and by offering this service we can now help our clients through the myriad of complexities that come with efficient and safe ship recycling.”port-and-ship
02 April 2025Splash 247
Island Offshore Psv Deal With Equinor Extended For Two YearsNorwegian OSV owner Island Offshore has secured a two-year contract extension from Equinor UK for the platform supply vessel Island Chieftain.
The 2009-built hybrid battery-powered PSV has been fixed until at least May 2027.
The vessel has been working for the Norwegian energy major in the UK sector since last May, supporting operations at the Mariner field.
The dayrates were not disclosed, but Equinor has secured further options to keep the vessel beyond the latest contract.
In related PSV fixtures, Aberdeen-based energy logistics group ASCO recently contracted the PSV Evita II for a vessel-sharing contract on behalf of BP, Shell, and TotalEnergies.
The 2012-built unit, managed by Vestland Offshore on behalf of Costamare boss Konstantinos Konstantakopoulos’ private offshore venture, has been fixed for three months.port-and-ship
02 April 2025