Cosco Shipping Energy Transportation is consolidating its parent company’s chemical product supply chain assets to enhance its position in the global chemical logistics market. The newly established Dalian Cosco Shipping Energy Transportation Supply Chain Company will merge Cosco Shipping’s transportation, warehousing, and logistics assets for LPG and chemical products. “The asset consolidation will enhance the company’s service capabilities in the chemical and energy logistics sectors and optimize overall business performance,”
Category: Shipping News
Tragic Accident Claims Lives of Two Workers at Virginia Ship Repair Yard
Two workers tragically lost their lives in an accident at the Marine Hydraulics International (MHI) Ship Repair Yard in Norfolk, Virginia, last week. Emergency services responded to the incident on the Elizabeth River at approximately 7:45 AM on Wednesday. One worker was pronounced dead at the scene, while another, who was critically injured, was transported to the hospital but succumbed to his injuries several hours later. MHI issued a statement
Namibia’s Tridock Shipyard to Launch $728 Million Drydock Facility at Walvis Bay
Tridock Shipyard Namibia (Pty) Ltd has unveiled plans for a cutting-edge drydock facility at Walvis Bay, projected to cost $728 million. The facility, expected to generate an initial annual revenue of US$150 million (N$2.7 billion), aims to double this revenue within three years of operation, according to a recent report in Mining & Energy. The project will create approximately 1,000 direct jobs, along with a range of downstream employment opportunities,
Port of Cape Town Welcomes Record-Breaking MSC Ines
The Port of Cape Town has reached a significant milestone by accommodating the MSC Ines, the longest vessel ever to dock at the Cape Town Container Terminal (CTCT). The 348.5-meter vessel surpassed the previous record of 336 meters for ‘length overall restrictions’ at the port. MSC Director of Operations, Captain Ian Rosario, attributed this achievement to the guidance of Harbourmaster Captain Alex Miya and Deputy Harbourmaster Captain Marcus Rammutloa, along
CMA CGM Expands Moroccan Presence with New Terminal at Nador West Med Port
French shipping giant CMA CGM has solidified its position in Morocco by partnering with local port operator Marsa Maroc to manage half of the new east terminal at the Nador West Med Port. Located in northeastern Morocco, this facility will have a capacity of 1.2 million TEUs (twenty-foot equivalent units) once fully operational. Industry experts, including Alphaliner, see Morocco’s strategy with Nador West Med as an effort to replicate the
Port of Los Angeles Achieves Record-Setting Quarter with 27% Rise in Cargo Volume
The Port of Los Angeles recorded a new monthly high in September, handling 954,706 TEUs (twenty-foot equivalent units), a 27% increase over the same month last year. This surge propelled the port to its best quarter ever, with 2.85 million TEUs processed in the third quarter, surpassing its previous record set in the second quarter of 2021 during the COVID-19 pandemic. Gene Seroka, executive director of the Port of Los
20 Crew Rescued After Fire Engulfs Sea Harvest Vessel Near Cape Town
Twenty crew members were safely rescued after a fire broke out aboard the Sea Harvest fishing vessel, MVF Armana, while it was sailing approximately 60 nautical miles off the coast of Cape Town, Western Cape, on Sunday. The fire occurred during the early morning hours on the 62-year-old vessel, initially raising concerns that it might sink. However, the Maritime Rescue Coordinating Centre (MRCC), based at the South African Maritime Safety
Maersk Optimistic About Suez Canal Reopening Amid Regional Conflict
As the Middle East teeters on the brink of wider conflict, Danish shipping giant Maersk remains optimistic that it’s not a question of if, but when, the vital Suez Canal will regain its prominence in maritime trade. On November 19, it will mark one year since Yemen’s Houthi rebels hijacked the roll-on roll-off carrier Galaxy Leader in the southern Red Sea, forcing its crew at gunpoint to head to the
South Africa’s Container Throughput Declines Amid Operational Challenges and Court Ruling
Following a relatively stable performance at the end of September, the beginning of October saw an 8% decline in container throughput at South African ports, dropping from a daily average of 8,072 to 7,384 containers week-on-week. The latest Cargo Movement Update, compiled by the South African Association of Freight Forwarders and Business Unity SA, indicated that port operations were primarily hampered by inclement weather, equipment breakdowns, and shortages. The report
Escalating Attacks in the Black Sea Threaten Global Shipping and Food Security
The Black Sea has become a perilous zone for merchant vessels as Russian military forces intensify their attacks on Ukraine’s export routes, according to reports from the BBC and Reuters. Recent escalations have seen a surge in assaults on commercial vessels, marking the fourth attack in less than a month and posing a serious threat to global supply chains. Following a relatively calm period for shipping, these renewed hostilities highlight