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19 August 2024port-and-ship
Aug 19, 2024
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Seapeak LNG shipowner-operator has refinanced one of its LNG carriers by acquiring the vessel from its original lessor.
In a US securities and exchange commission filing on August 15, the company unveiled that during June it refinanced the Seapeak Oak LNG carrier by acquiring the vessel from its original lessor for a total cost of $120.8m, and then selling the vessel to another lessor for $145.3m, and leasing it back for a period of 8 years.
The company is obligated to repurchase the vessel at the end of the lease term for $45m, Seapeak said in its interim consolidated financial statement.
Meanwhile the owner in July 2024 gave notice to exercise its repurchase options to acquire three of its NGL carriers, the Ineos Insight, Ineos Ingenuity, and Ineos Intrepid, for a total cost of $93.6m. The company expects to complete these repurchases and enter into new financing arrangements in August 2024 to October 2024.
Furthermore, the shipowner on August 12 sold and delivered its wholly-owned multi-gas carrier, the Seapeak Pan, to its buyer for net proceeds of $6.5m.
At the beginning of the year, the company also gave notice to exercise its repurchase options to acquire two of its NGL carriers, the Ineos Inuition and the Ineos Invention, for a total cost of $75.2m.
As it is reported by the owner, it expects to complete these repurchases and enter into new financing arrangements for these vessels in August 2024.
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One Sees $4 Billion Q1 Revenue Amid Trade And Port StrainsThe Japanese shipping line reported revenue of $4.05 billion and a net profit of $86 million.
Jeremy Nixon, CEO of Ocean Network Express, said: “Our FY2025 1Q results show our adaptability amid ongoing geopolitical and economic challenges. Our full year forecast is likely to face headwinds from continued geopolitical uncertainties and evolving market conditions in key economies and port congestion that impact global supply chains.
“We are optimising our cargo portfolio and vessel deployment while implementing measures to address logistical challenges. This ensures we maintain agile, efficient operations and provide customers with quality service.”
Last month, ONE restructured and expanded its Baltic feeder network to enhance connectivity, reliability, and regional reach. ONE Europe also renewed its ISO 14001:2015 certification, extending its scope to include a broader range of inland transport logistics.
Port Technology International
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01 August 20251 min readOne Sees $4 Billion Q1 Revenue Amid Trade And Port Strains
Port Technology International
01 August 2025
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South Korea’S K-Sure Backs Trafigura’S Ship Chartering With $200M FundingSingapore-based commodity trading company Trafigura has landed a $200m mid- to long-term financing agreement with Korea Trade Insurance Corporation (K-SURE) to boost the export business of Korean shipping companies.
The deal marks the first time an export credit agency has offered a mid- to long-term financial support grounded in time charter agreements, Trafigura says in a July 29 statement.
It also says the financing will help cover costs such as time charter fees paid by Trafigura to Korean shipping companies as part of its global freight operations.
Trafigura charters vessels from around the world and is planning to expand chartering activities with Korean partners in the coming years.
The trader has committed to develop strategic partnerships in Korea and play a key role in helping mid-sized Korean shipping companies to strengthen their negotiating power and operational capabilities, Trafigura said in its statement.
Andrea Olivi, global head of shipping at Trafigura, said: “This innovative financing structure with K-SURE underscores our long-term commitment to developing strategic partnerships in Korea. The support enables us to work more closely with Korean shipping companies and contributes to building a more resilient and diversified maritime supply chain.”
The $200m facility was supported by three banks: Crédit Agricole Corporate and Investment Bank, who acted as coordinating and structuring bank for the facility, Barclays Bank Plc and Oversea-Chinese Banking Corporation Limited.
Shipping Telegraph
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30 July 20252 min readSouth Korea’S K-Sure Backs Trafigura’S Ship Chartering With $200M Funding
Shipping Telegraph
30 July 2025
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Portugal To Invest $4.6B In Port Upgrades By 2035July 30, 2025
Portugal's government announced on Wednesday an investment plan worth 4 billion euros ($4.6 billion) to expand and modernise its main ports over the next 10 years, 75% of which will be done by private companies.
Infrastructure Minister Miguel Pinto Luz said the investment would be made in six ports, including the port of Sines - the closest deep-water European port to the U.S. coast - where the current terminal is being expanded and a new one will be built.
He said port activity in Portugal has "potential to attract new investment given the country's privileged location," with an extensive Atlantic coastline that can be a gateway to the Iberian market and connect to trans-European transport networks.
Pinto Luz said 15 new exploration concessions would be launched and, according to a new law, the private operators would enjoy a maximum term of 75 years, instead of the 30 years of current concessions.
The government projects these investments will increase cargo movement to 125 million tons annually by 2035, a 50% increase compared to the most recent data from 2023, as well as a 70% rise in container throughput to 6.5 million Twenty-Foot Equivalent Units (TEUs).
($1 = 0.8710 euros)
(Reuters)
Maritime Logistics Professional
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30 July 20252 min readPortugal To Invest $4.6B In Port Upgrades By 2035
Maritime Logistics Professional
30 July 2025
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Sri Lankan Court Orders Owners Of Container Ship To Pay $1 Billion In Marine Pollution Compensationin International Shipping News
28/07/2025
Sri Lanka’s top court ordered the owners of a Singapore-flagged container ship that sank near its capital to pay $1 billion in compensation to the island nation’s government for causing the most severe marine environment catastrophe in the country’s history.
The container ship MV X-Press Peal, which was carrying chemicals, sank off Colombo in June, 2021 after catching fire. The Supreme Court said the incident caused “unprecedented devastation to the marine environment of Sri Lanka” and harmed the country’s economy, especially the lives of the fishing communities.
Judges said the disaster led to the death of 417 turtles, 48 dolphins, eight whales and a large number of fish species that washed ashore after the incident. Debris from the ship, including several tons of plastic pellets used to make plastic bags, caused severe pollution on beaches.
“This marine environmental disaster constitutes the largest recorded marine plastic spill in the world,” the judgement said. “It resulted in the widespread release of toxic and hazardous substances into the marine environment, poisoning ocean waters, killing marine species, and destructing phytoplankton.”
Due to the severe marine pollution, the government imposed a fishing ban for well over a year, depriving fishermen of their income and livelihood.
The incident “continues to cause destruction and harm to Sri Lanka’s marine environment,” said the judgement, signed by five supreme court judges.
The judgement was given against the X-Press Pearl group that included ship’s registered owner, EOS Ro Pte. Limited, and other charterers. All are based in Singapore. An agent in Sri Lanka, Sea Consortium Lanka (Pvt.) Ltd., was also named.
The court said it has sufficient reasons to hold that X-Press Pearl group “should be held accountable and liable under the Polluter Pays Principle for the pollution caused by the MV X-Press Pearl vessel.”
It said the owner, operators and local agent of the ship were all liable for the payment of compensation, which should be used to restore and protect the affected marine and coastal environment.
There was no immediate comment on the judgement from the owner or agent of the vessel.
The court ruling came after several parties, including environment campaigners and fisher rights groups, filed litigation seeking compensation.
Source: AP
Hellenic Shipping News
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28 July 20252 min readSri Lankan Court Orders Owners Of Container Ship To Pay $1 Billion In Marine Pollution Compensation
Hellenic Shipping News
28 July 2025
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Brazil Judge Rejects Maersk Request To Alter $1 Billion Port Auctionin Port News
25/07/2025
A Brazilian judge has rejected a request by Danish shipping group Maersk to suspend a bidding process for the Tecon 10 terminal at Brazil’s Port of Santos pending its call for a review to allow firms already operating there into the first phase.
Maersk filed a lawsuit last month against Brazil’s marine transport authority (Antaq), calling for corrections to the bidding process to build and run the new megaterminal at Latin America’s largest port, as first reported by Reuters.
Incumbent companies are barred from the first round of bidding for the contract for the terminal, which is expected to require 5.6 billion reais ($1.0 billion) of investment.
Judge Paulo Cezar Neves Junior said he did not see any illegality in the way the marine authority designed the auction and noted that Brazil’s federal audit court is also analyzing the bidding process. He therefore denied Maersk’s injunction request, citing the absence of an imminent risk that would warrant judicial intervention.
In a statement, Maersk said on Wednesday that the ruling, issued on Tuesday, referred to a request for a new public consultation and did not cover its questions over the guidelines barring incumbent operators from the auction’s first phase.
The company said it would consider an appeal and other “appropriate measures”.
According to the current bidding rules, if no valid proposals are received in the first phase of the auction, operators of existing container terminals at Santos can bid in subsequent rounds, provided they divest their other holdings in the port complex. The marine authority did not immediately reply to a request for comment.
The restrictions clear the path for new companies, including Asian rivals or local players such as JBS Terminais, the recently established port operating unit of Brazilian meatpacker JBS. JBS Terminais declined to comment on the matter.
Source: Reuters (Reporting by Luciana Magalhaes; editing by Philippa Fletcher)
Hellenic Shipping News
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25 July 20252 min readBrazil Judge Rejects Maersk Request To Alter $1 Billion Port Auction
Hellenic Shipping News
25 July 2025
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Air Liquide To Build €500 Million Hydrogen Plant In RotterdamThe electrolyser will be located at Maasvlakte’s conversion park in Rotterdam, where electricity from North Sea wind farms will be used to generate hydrogen.
The ELYgator is scheduled to become operational by the end of 2027 and will produce approximately 23,000 tonnes of hydrogen per year for industrial and heavy transport use.
READ: Port of Rotterdam throughput falls 4.1 per cent in H1 2025
Air Liquide estimates the facility will reduce CO2 emissions by 300,000 tonnes annually.
The plant is the second large-scale electrolyser confirmed for the Maasvlakte conversion park, which has capacity for four such facilities. The investment totals more than €500 million ($586 million).
Air Liquide cited revised hydrogen regulations — specifically the ‘refinery route’ — along with support from the Dutch government and EU subsidies, as key enablers for the project.
Recently, the Port of Rotterdam announced that Rozenburg Lock, used by 20,000 vessels annually, is undergoing a major renovation. From 2027, it will be operated remotely from the Rotterdam Traffic Center, marking a significant shift in port infrastructure management.
Port Technology International
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25 July 20251 min readAir Liquide To Build €500 Million Hydrogen Plant In Rotterdam
Port Technology International
25 July 2025
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Ship Collision In Cuxhaven Spills 6,000 Litres Of Fuel Into HarbourA collision between two vessels at the entrance of Cuxhaven’s outer harbour in Germany led to a fuel spill of around 6,000 litres early on Wednesday, July 23. Authorities and emergency teams rushed to contain the spill and stop it from reaching the Elbe River.
The incident happened when the 69-meter-long German-flagged product tanker Capella, which was entering the port from Bremerhaven, collided with the 44-meter-long Dutch-flagged offshore supply vessel Coastal Legend, which was leaving the harbour.
Capella is a 1,340 deadweight tonnage (dwt) tanker and suffered only minor damage, while Coastal Legend, weighing 328 gross tons, had a breach about 80 centimetres long near the stern.
Following the collision, a red, oily film was seen floating in the harbour, and fuel was found leaking from Coastal Legend. The crew members on both vessels were safe, and no injuries were reported.
The German Seaman’s Mission and Stella Maris supported the sailors after the vessels were docked in Cuxhaven.
In response to the fuel leak, emergency services from the German Federal Agency for Technical Relief (THW), local fire departments, and the Maritime Emergency Command set up oil booms around the damaged vessel. Pumping operations began to transfer the fuel to the bunker vessel Herta. Divers were also deployed to seal the leak underwater.
Aerial support was provided by an oil reconnaissance aircraft, which conducted two flights over the affected area to monitor the spread of the spill. By late Wednesday, around 80 cubic meters of a mix of oil and water had been collected from the surface using skimmers. This mixture was being pumped into a tanker and trucks for safe disposal.
Emergency personnel wore breathing masks during operations to avoid inhaling harmful fumes. A special oil recovery vessel was also deployed to the site.
The Water Police have launched an investigation to find out the exact cause of the collision. Both vessels remained stable and were not at risk of sinking. Officials confirmed that shipping traffic on the Elbe River had not been impacted.
A spokesperson from the Central Command for Maritime Emergencies estimated that 6,000 litres of fuel had spilled and said that most of it was successfully prevented from entering the Elbe.
Per reports, Greenpeace marine biologist Thilo Maack said that any oil in the water poses a risk to marine life. The expert explained that oil blocks oxygen exchange between water and air, which can harm plankton and other small organisms. He also warned that if the oil is not removed quickly, it could settle in the harbour’s sediment and release pollutants for years.
Cleanup efforts continued into the evening, and officials said it would go on until the area is fully cleared. The full environmental impact and cost of the damage are yet to be assessed.
References: dw, aletihad
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In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
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24 July 20254 min readShip Collision In Cuxhaven Spills 6,000 Litres Of Fuel Into Harbour
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24 July 2025
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27 Million Tons Of Toxic Nanoplastics Floating In Atlantic Ocean, Study FindsA new scientific study has revealed that the North Atlantic Ocean holds around 27 million tons of nanoplastics-plastic particles smaller than 1 micrometer. This is the first time such a large amount of nanoplastics has been estimated in ocean water.
The research was carried out by the Royal Netherlands Institute for Sea Research (NIOZ) along with Utrecht University, and the findings were published on July 9, 2025, in the journal Nature.
Researchers involved in the study said that this quantity of tiny plastic is actually more than the total amount of visible plastic (microplastics and macroplastics) floating not just in the Atlantic, but in all the world’s oceans combined.
One of the lead scientists from NIOZ, who is also a professor of geochemistry at Utrecht University, said that this estimate helps reveal a major part of the “missing plastic” puzzle- referring to the fact that a large portion of plastic ever produced could never be tracked or found.
The study was made possible through the joint efforts of ocean experts and an atmospheric scientist from Utrecht University, who helped develop a method to detect and measure such small particles. Previously, some studies had shown the presence of nanoplastics in seawater, but no one had been able to estimate how much was actually out there.
A master’s student from Utrecht University, Sophie ten Hietbrink, spent four weeks aboard the research vessel RV Pelagia to collect the data. During the expedition, which sailed from the Azores to the European continental shelf, she collected water samples from 12 different locations. Using filters, anything larger than 1 micrometer was removed from the samples.
The remaining material, which possibly contained nanoplastics, was then studied in a lab at Utrecht University. By drying and heating the samples and analyzing them using a process called mass spectrometry, the scientists were able to detect the molecules that make up various kinds of plastic.
The team then extrapolated the results to cover the entire North Atlantic Ocean and arrived at the total estimate of 27 million tons. According to the researchers, this amount is extremely high and should be seen as a major warning.
The nanoplastics in the ocean can get there in multiple ways. One source is sunlight, which breaks down larger pieces of plastic into much smaller ones. Another source is rivers that carry plastic waste from land into the sea.
The researchers also pointed out that nanoplastics can travel through the air and reach the ocean with rain or settle onto the surface as dry particles falling from the sky.
Experts believe that these tiny plastic particles can have serious effects on marine ecosystems. Nanoplastics are already known to enter the human body and have even been found in brain tissue.
Since they are now known to be widespread in ocean water, scientists believe they may already be present throughout the marine food chain, from bacteria and microorganisms to fish and larger animals, including humans.
The researchers also noted that some common plastics like polyethylene and polypropylene were not found in their samples. They think these types might have been hidden by other molecules and plan to investigate further.
They also want to study whether nanoplastics are present in similar amounts in other oceans around the world. Though they fear the answer might be yes, further research is needed to confirm it.
One of the researchers stated that while this new estimate fills an important gap in our understanding of plastic pollution, the situation is worrying. The nanoplastics already in the oceans cannot be removed. Therefore, the most important step now is to stop more plastic from entering the environment in the first place.
Reference: NIOZ
Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
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24 July 20255 min read27 Million Tons Of Toxic Nanoplastics Floating In Atlantic Ocean, Study Finds
Marine Insight
24 July 2025
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Dhamra Port Sets Record With 187,000-Tonne Coking Coal ImportIn a milestone for Odisha’s maritime infrastructure, Dhamra Port has successfully handled its largest-ever imported coking coal consignment—186,782 metric tonnes—brought in by Tata Steel Ltd, one of India’s top steel producers. The massive vessel, stretching 299.95 metres in length with a 50-metre beam and an 18.40-metre draft, showcased the port’s ability to berth and unload ultra-large ships with ease.
Odisha’s industrial ascent was on full display as Dhamra Port achieved a record-breaking milestone, handling its largest-ever imported coking coal consignment. This accomplishment cements the port’s status as a premier deep-draft facility on India’s eastern seaboard and showcases its operational excellence, cutting-edge infrastructure, and growing cargo-handling capacity under Adani’s stewardship.
The successful unloading of the massive coal parcel not only bolsters key industrial operations—particularly in the steel sector—but also highlights Odisha’s emergence as a strategic gateway for global trade and raw material imports. Seamless coordination among port authorities, shipping agencies, and industry stakeholders made this feat possible, reinforcing Dhamra Port’s role as a critical engine of regional economic growth.
Maritime Gateway
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23 July 20251 min readDhamra Port Sets Record With 187,000-Tonne Coking Coal Import
Maritime Gateway
23 July 2025
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Taylor Maritime Confirms 10 New Ship Sales For $176.3MLondon Stock Exchange-listed dry bulk shipowner Taylor Maritime Limited has confirmed the sale of ten new vessels for total gross proceeds of $176.3m, at an average 1.1% discount to fair market value.
The Guernsey, England-based shipping company said three vessel sales have completed to date, with the remaining seven expected to complete by December.
Taylor Maritime added that nine previously-announced vessel sales have also now completed for total gross proceeds of $137.3m.
Net proceeds from these sales, combined with a portion of existing cash on the balance sheet, have been applied to the prepayment of all outstanding bank debt in July 2025, according to the company’s announcement.
Since January 2023, it has disposed of 49 vessels, 22 of which have been during 2025, averaging a 3.1% discount to fair market value.
Following the latest transactions, the company’s owned fleet will comprise of eight Japanese-built vessels.
The shipowner also has one vessel under joint venture agreement and 6 vessels in its chartered in fleet.
Edward Buttery, chief executive officer, said: “We have demonstrated our ability to sell vessels profitably, at prices close to or at NAV, and have now paid off all our bank debt. Both steps were seen as key to defending shareholder value amidst market uncertainty.
“We believe there is potential for further downside in asset values from current levels given forecasts of an acceleration of fleet growth in the near-term and the backdrop of a slowing global economy. We have therefore sold vessels to realise proceeds in excess of requirement to meet our debt-free target in order to protect against this potential downside.
“In all, our sales since January 2023 have preserved an estimated $82.0 million of value for our shareholders given a subsequent decline in asset values. We remain cautious but positive that there is upside in the medium term outlook for the dry bulk market overall and we now have ample liquidity at our disposal to act quickly on possible opportunities, should they arise, whilst in a position to maintain our dividend.”
Shipping Telegraph
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18 July 20252 min readTaylor Maritime Confirms 10 New Ship Sales For $176.3M
Shipping Telegraph
18 July 2025
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Mpc Container Ships Spends $228M On Four 4,500 Teu Orders In ChinaOslo-listed MPC Container Ships has placed a $228m order for four 4,500 teu container vessels at China’s Taizhou Sanfu Ship Engineering with secured three-year charters, as well as divesting some older tonnage while expanding its financing platform with new debt facilities totalling over $100m.
The ships, which will deliver in 2027, will generate around $140m in revenue from their initial three-year charters, the company said in a release.
The tonnage provider revealed today it is letting go of three older 1,300 teu ships for $31.5m with existing charters attached.
“Our ongoing fleet renewal strategy is further reinforced by these measures,” said CEO Constantin Baack (pictured).
Splash247
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18 July 20251 min readMpc Container Ships Spends $228M On Four 4,500 Teu Orders In China
Splash247
18 July 2025
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Taylor Maritime Seals $176 Million From 10 Vessel SaleThree sales have been finalised, with the remaining seven expected to close by December 2025.
Nine previously announced vessel sales have been completed, bringing total gross proceeds to $137.3 million.
These funds, along with a portion of cash reserves, have been used to fully prepay all bank debt in July 2025.
Since January 2023, Taylor Maritime has divested 49 vessels, 22 of which occurred in 2025, at an average 3.1 per cent discount to Fair Market Value.
READ: Triton agrees container leasing company sale
Following these sales, the fleet will consist of eight Japanese-built vessels, one under a JV agreement, and six chartered vessels.
Taylor Maritime will release its next quarterly trading update on 25 July 2025.
Edward Buttery, CEO, Taylor Maritime, stated: “This move was essential for protecting shareholder value amid market uncertainty. With forecasts predicting fleet growth and a slowing global economy, we’ve taken steps to mitigate potential asset value declines.
“While we remain cautious, we’re optimistic about the medium-term dry bulk market outlook and now have sufficient liquidity to pursue opportunities, while ensuring dividend stability.”
In March, the Chinese government reposted content condemning the port deal between CK Hutchison and US firm BlackRock, calling it a ‘betrayal of China’.
Port Technology International
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17 July 20252 min readTaylor Maritime Seals $176 Million From 10 Vessel Sale
Port Technology International
17 July 2025
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