Boundary Layer Technologies is a new startup that wants to build small, fast hydrofoil cargo ships to compete with airplanes in the transport of high value, time-critical cargo. They are a new company that just launched this year but they have already built and operated their first hydrofoil containership! (Well, actually it’s really a Containerboat […]
Breaking News
Pirates Kidnap 8 from German-Owned Cargo Ship Off Cameroon
Pirates kidnapped eight crew members from a general cargo ship off the coast of Cameroon in West Africa. The vessel’s Hamburg, Germany-based shipowner, MC-Schiffahrt, confirmed the incident in a statement posted to its website. The company said its MV MarMalaita was attacked Thursday, August 14, between 23.00h and 24.00h local time at the Douala anchorage […]
Iran Tanker Shifts Position But Still at Anchor Off Gibraltar
By Marco Trujillo and Jon Nazca GIBRALTAR, Aug 16 (Reuters) – An Iranian tanker caught in the standoff between Tehran and the West shifted position on Friday, but its anchor was still down off Gibraltar and it was unclear if it was ready to set sail soon. Gibraltar authorities could not be reached for comment. The […]
Four Injured in Ferry Grounding in Boston Harbor
The U.S. Coast Guard and other state and local rescue crews responded to the grounding of a passenger ferry near Boston Harbor’s Long Island on Friday. The Coast Guard says it was alerted at around 7:45 a.m. by a manager at Boston Harbor Ferry reporting that the ferry Lightning had run aground with 84 people […]
Port of Hamburg Reports Strong First Half
The Port of Hamburg reported strong growth in the first half of 2019 with seaborne cargo rising by over 4 percent helped by the solid growth in general cargo. Germany’s largest seaport said it handled a total of 69.4 million tons, representing 4.1 percent growth in 1H 2019. Container volumes increased 7.5 percent to 4.7 […]
Transpacific Rates Take a Tumble as Trade War Ripples Spread
By Alexander Whiteman (The Loadstar) – Efforts to push rates up on Asia-North Europe trades are still failing, and carriers are now also beginning to feel the pinch from the China-US trade wars. The Shanghai Containerised Freight Index (SCFI) today recorded spot rates for North Europe virtually unchanged, up just 0.2% to $812 per teu. […]
Dirty Fuel Margins Plunge as IMO 2020 Looms
By Ahmad Ghaddar and Julia Payne LONDON, Aug 16 (Reuters) – Margins for European high sulphur fuel oil (HSFO), used to power ships, sank this week as preparations for a global shift to cleaner maritime fuel next year start to weigh on prices. High sulphur fuel oil is one of the dirtiest and cheapest products […]