• California announces $1.2 billion funding to...

    Finalized in the state budget at the end of June, the port and freight infrastructure program aims to make long-term upgrades that will increase the capacity to move goods throughout the state while lessening environmental impacts on neighboring communities.

  • Grindrod Shipping Holdings Ltd. Announces...

    Grindrod Shipping Holdings Ltd. , a global provider of maritime transportation services predominantly in the drybulk sector, today announced that we have entered into a transaction implementation agreement (the “Implementation Agreement”), dated October 11, 2022, among the Company, Taylor Maritime Investments Limited (“TMI”) and Good Falkirk (MI) Limited, a wholly-owned subsidiary of TMI (the “Offeror”), providing for a voluntary conditional cash offer (the “Offer”) to be made by the Offeror for all of the issued ordinary shares (the “Shares”) in the capital of the Company (other than Shares held by the Offeror and Shares held in treasury) (the “Offer Shares”).

  • MARAD Awards Nearly $39 Million in Marine Highway...


    The U.S. Department of Transportation’s Maritime Administration (MARAD) awarded nearly $39 million in grants to 12 marine highway projects across the Nation under the America’s Marine Highway Program (AMHP). The funding will help expand marine highway services on the United States’ navigable waterways to reduce congestion, alleviate supply chain bottlenecks, and move goods more quickly from ships to shelves.

  • As Europe Hunts for Gas, Atlantic LNG Carrier...

    As European nations push to secure natural gas supplies ahead of the winter heating season, Atlantic basin day rates for LNG carriers have soared to record levels. Shipowners lucky enough to be in the LNG sector can hope for spot rates pushing the $400,000 mark, a price bracket usually reserved for the ultradeepwater drillship sector on its best days.  

  • India’s Adani in talks with investors to raise $...

    Indian billionaire Gautam Adani and his family are in early discussions with investors, including Singapore investment firms Temasek and GIC, to raise at least $10 billion to fund its expansion into clean energy, ports and cement businesses, Mint newspaper reported on Monday.

  • Stolt-Nielsen Limited Reports Nine Month-Net...

    Stolt-Nielsen Limited yesterday reported unaudited results for the third quarter and first nine months of 2022. The Company reported a third-quarter net profit of $74.7 million, with revenue of $744.0 million, compared with a net profit of $58.6 million, with revenue of $689.1 million, in the second quarter. The net profit for the first nine months of 2022 was $185.6 million, with revenue of $2,039.3 million, compared with a net profit of $43.8 million, with revenue of $1,588.0 million, in the first nine months of 2021.

  • Hapag-Lloyd to Acquire SAAM's Terminal...

    Hapag-Lloyd AG and SM SAAM have signed a binding agreement under which Hapag-Lloyd will acquire 100 % of the shares of SAAM Ports S.A. and SAAM Logistics S.A. and thereby the entire company’s terminal business and associated logistics services.

  • Partners Awarded $50 Million to Create Clean...

    The U.S. Economic Development Administration (EDA) earlier this month awarded a $50 million federal grant to H2theFuture, a 25-organization partnership aiming to develop a new energy cluster in South Louisiana, spanning the clean hydrogen life cycle, from R&D at Louisiana universities, to an end-use project at the Port of South Louisiana.

  • Preliminary $1.4B Deal to Sell Stake in DSME as...

    A preliminary deal has been struck for the Korea Development Bank to sell two-thirds of its investment in Daewoo Shipbuilding & Marine Engineering (DSME) in a transaction that would recapitalize the financially troubled shipyard with new private investors and management. KDB, which had previously said it was making it a priority to sell Korea’s third largest shipbuilder to private investors, has selected a technique typically used in bankruptcies announcing an initial accepted bid and tomorrow will commence a month-long bidding process for a 49.3 percent stake in DSME.


Holyhead Marine wins £1.6m Falmouth Harbour contract

Falmouth Harbour has awarded Holyhead Marine a £1.6m contract to build a fuel-efficient pilot vessel to join a fleet operating 24/7, 365 days a year. The vessel will complete more than 1,000 boardings and landings per year within the Falmouth Harbour Pilotage Area.


The Port of Los Angeles has awarded a total of $6 million to two trucking companies and their truck manufacturer partners to speed up the transition to zero-emission (ZE) drayage trucks serving the nation’s busiest container port. The grants will defray the cost of putting 22 pre-production emissions-free models in Port service during 2023.


WFW advises SPDBFL on US$136M lease financing for eight bulk carriers

Watson Farley & Williams (“WFW”) has advised SPDB Financial Leasing Co., Ltd. (“SPDBFL”) on two sale and leaseback transactions involving the acquisition from, and bareboat charter back to, the Ciner Shipping group (“Ciner”), one of the largest shipping companies in Turkey, of eight bulk carriers. The vessels comprise four second-hand bulk carriers and four newbuild bulk carriers currently being built by the SUMEC group.


Performance Shipping inc. Announces the sale of 2007 built m/t p. Fos for US$34 million

Performance Shipping Inc., a global shipping company specializing in the ownership of tanker vessels, announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party the 2007-built Aframax tanker vessel “M/T P. Fos”, with delivery to the buyer during November 2022, for a gross sale price of US$34.0 million.