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Luxembourg – April 17th, 2024: DIS announces the signing of a shipbuilding contract with Jiangsu New Yangzi Shipbuilding Co., China, for the purchase of two (2) new Long Range (LR1 – 75,000 DWT) product tanker vessels at a contract price of US$ 55.4 million each. These new very efficient vessels are expected to be delivered to us in September and November 2027, respectively. P. d’Amico, Chairman and CEO of d’Amico International Shipping commented: “I am delighted to announce the agreement to build these two “Eco” product tanker vessels, which should be the most efficient and environmentally friendly LR1 vessels in our fleet. This deal is aligned with our strategic objective of controlling a very modern fleet. Additionally, thanks to this agreement, DIS will further strengthen its presence in the LR1 segment, reaching a total fleet of 8 modern vessels. I believe this segment of the market will continue to offer interesting returns in the next several years. In fact, on the one hand, the product tanker order book is still rather low, in particular for this size vessels, and on the other hand, the secular dislocation of world refining capacity away from some key consuming regions will continue expanding ton-mile demand, likely further benefiting LR1 vessels, which are currently already in high demand from our customers.” #DISIM #damicointernationalshipping #shipping #vessel #eco #investment #producttanker https://lnkd.in/di5nMnzH

Types of cargo ships used in global trade Several types of ships are used in global trade today to carry various types of cargo demanded by consumers and industries worldwide.. As per UNCTAD, as of January 2023, the world’s merchant fleet consisted of 105,500 ships of at least 100 gross tons (GT) including 56 500 ships over 1000 GT reaching a carrying capacity of 2.3 billion dead weight tons (DWT).. A “ship” typically refers to a larger, ocean-going vessel, especially those designed for transporting cargo or passengers over long distances.. The term “vessel” is broader and includes a wide variety of watercraft, including boats, ships, barges, and similar structures used or capable of being used as a means of transportation on water.. While a ship is a type of vessel, not all vessels are ships.. The specific criteria for classifying a vessel as a ship can vary based on legal jurisdiction and context.. It also focusses on factors like size, navigation capabilities, and purpose.. In this article, the author refreshes the various types of ships used in today’s global trade, their uses, and categories. #exporter #importer #supplychain #cargoships https://lnkd.in/dyKjXp_G

♦ Boxship Newbuild Contracts Now Stretch Into 2029   In a recent article by Sam Chambers for the reputable media outlet Splash Maritime and Offshore News (splash247.com), the container shipping industry is experiencing an unprecedented extension of newbuild contracts, now stretching into 2029. This development reflects the industry's long-term confidence in continued demand and the strategic moves by shipping companies to secure future capacity amid global trade uncertainties.   In the ever-evolving landscape of global trade, John S. James Co. stands out as a group of experts ready to assist with all your import and export needs. Whether you're a small business shipping occasionally or a large corporation with frequent shipments, our team provides the tailored expertise and comprehensive services required to ensure smooth and efficient logistics. From seamless customs clearance to precise freight forwarding, we are committed to delivering excellence for every client, regardless of size or shipping frequency.   Discover how John S. James Co. can support your shipping needs by visiting johnsjames.com.    #ShippingIndustry #ContainerShipping #NewbuildContracts #FreightForwarding #CustomsBroker #GlobalTrade #JohnSJamesCo #MaritimeNews #Splash247 #Logistics #SupplyChain #2029 #InternationalShipping

Eastern Pacific signs for up to a dozen car carrier newbuilds. Idan Ofer’s Eastern Pacific Shipping (EPS) has added to its massive orderbook with a fresh deal for up to 12 car carrier newbuilds in China. The Singapore-based diversified shipowner, with around 80 newbuilding projects, has contracted for up to eight 5,500 ceu vessels at Fujian Mawei Shipbuilding and up to four at China Merchants Jinling Shipyard. The order covers four firm LNG dual-fuel units at Fujian Mawei, delivering in 2027, and two firm at Jinling, with shipbuilding sources suggesting a price of about $80m each. The construction of the four mid-sized car carriers will be carried out at Xiamen Shipbuilding, with the owner securing options for an additional four vessels. At the same time, the Jinling Shipyard deal came with two optional units. Earlier this year, EPS also booked up to eight 50,000 dwt MR tankers at Fujian Mawei, with delivery of the four firm ships due in 2026, while Ofer’s cooperation with China Merchants Jinling continued following contracts for a series of 7,000 ceu dual-fuel newbuilds. About 35 firm car carriers have been contracted year-to-date, according to Clarksons data, while last year saw 88 units firmed up mostly across Chinese shipyards and predominantly larger vessels.

Shortage of ships has led to an increase in blank sailings A new analysis suggests that insufficient vessel capacity has left shipping companies with no choice but to cancel sailings. The two major shipping routes, Asia to Europe and the Pacific route, saw a large increase in canceled sailings in March and April. The route worst affected by blank sailings was Asia-North Europe, which lost 21% of its planned capacity in April. #Amcargo #shipping #international #oceanfreight #vessel

Cosco plots colossal $4.5bn order for 120 newbuildings. Fleet renewal plans emerge as China giant responds to ‘structural undersupply of tonnage’. According to TradeWinds, China’s COSCO Shipping Corporation (COSCO Shipping) is planning to build up to 120 new ships worth more than $4.5 billion. Shipbuilding brokers note that the number of ships to be ordered for each ship type has not yet been finalized. However, it has been suggested that COSCO Shipping is considering building 20 Newcastlemax bulk carriers, 40 Kamsarmax bulk carriers and 30 80,000 dwt multi-purpose pulp carriers as well as several VLOCs and bitumen tankers. The ships will be ordered by subsidiaries of COSCO Shipping such as COSCO Shipping Bulk and COSCO Shipping Specialized Carriers.

Eastern Pacific Shipping Pte. Ltd. splashes out $2.45 billion in the construction of up to 12 LNG dual-fueled container ships, each with an impressive capacity of 18,000 TEU ,swelling its vast orderbook to more than 100 newbuildings. Brokers suggested the newbuildings, which can be powered by LNG or conventional marine fuel, would cost more than $200m each. The New Times contract brings the number of firm container ship newbuildings on Eastern Pacific’s orderbook to 17. According to Clarksons Research , the company is scheduled to take delivery of four midsize vessels this year — two scrubber-fitted 6,900-teu vessels from New Times and two 5,920-teu ships from Japan’s Imabari Shipbuilding. The New Times contract brings the number of firm container ship newbuildings on Eastern Pacific’s orderbook to 17. According to Clarksons’ Shipping Intelligence Network, the company is scheduled to take delivery of four midsize vessels this year — two scrubber-fitted 6,900-teu vessels from New Times and two 5,920-teu ships from Japan’s Imabari Shipbuilding. The New Times newbuildings are chartered out to CMA CGM, while Imabari’s boxships are fixed to Orient Overseas Container Line. South Korea’s HD Hyundai Mipo Dockyard is building four LNG-fuelled 1,400-teu newbuildings for the Eastern Pacific. Eastern Pacific ordered the quartet two years ago against long-term time charters from US shipping and logistics company Crowley. HMD will be delivering the feeder vessels next year. Fujian Mawei Shipbuilding is constructing one 3,000-teu boxship that will be delivered next month. Meanwhile, Eastern Pacific has added one more conventionally fuelled 115,000-dwt product tanker newbuilding at state-owned Shanghai Waigaoqiao Shipbuilding. The deal brings the number of LR2 tankers that Eastern Pacific has at the CSSC-controlled shipyard to three. The other two product tankers were ordered last year and are slated to be delivered in February and May 2025. They were ordered against charters from Vitol. Eastern Pacific Shipping's ambitious #newbuilding program encompasses a diverse range of vessel types, including Newcastlemax #bulkers, various tankers (MR2 to #Suezmaxes), #VeryLargeAmmoniaCarriers, #LNGcarriers, and #carcarriers. This monumental moves not only solidifies EPS's position as a leader in sustainable shipping practices but also sets the stage for a new era in #maritime #transportation. #shipping #sustainablility #shippingindustry #containershipping #maritimeinnovation For more insights , pls refer to the link : https://lnkd.in/eQkPUS5t

The container crane market is undergoing a major transformation with strategic moves reshaping the industry.    With a recent push for the US to onshore port crane manufacturing through a $20 billion investment, supporting American manufacturers over global manufacturers should help to boost the US economy and foster a more secure shipping industry. Mi-Jack Products is proud to be a key player in the US yard crane sector. Our American-made, fully electric RTG cranes are designed for both container stacking and high production, providing unparalleled efficiency and reliability. With 24/7/365 US-based service and parts, we're committed to supporting our customers every step of the way. Read the full article by WorldCargo News to learn more about these shifts in the container crane market and how Mi-Jack is contributing to this transformation ➡️ https://lnkd.in/gSnjkHGG #MiJackProducts #ContainerTerminals #MarineTerminals #PortEquipment #RTGCranes #SupplyChain

𝐂𝐎𝐒𝐂𝐎 𝐒𝐡𝐢𝐩𝐩𝐢𝐧𝐠 𝐨𝐫𝐝𝐞𝐫𝐬 𝐟𝐨𝐮𝐫 𝐚𝐬𝐩𝐡𝐚𝐥𝐭 𝐜𝐚𝐫𝐫𝐢𝐞𝐫𝐬 𝐟𝐨𝐫 $𝟗𝟖𝐦 China’s COSCO Shipping Specialized Carriers has ordered four 9,000-tonne special liquid cargo ships at Mawei Shipyard, a subsidiary of Fujian Shipbuilding. These four vessels were ordered through its Hong Kong-based wholly-owned subsidiary COSCO Shipping Investment Development and will be used for asphalt transport. The total investment is around $98m while the price of a single ship is about $24.5m. The vessels will be delivered between October 2025 and August 2026. The company stated that the internal rate of return of this project is approximately 7.2% and the investment payback period is 11.8 years. According to COSCO, asphalt carriers built before 2005 have been driven out of the core market due to global green and low-carbon requirements and there are only 21 vessels in the 7,000-9,000 tonne range that are under 10 years old – or around 7%. The Chinese company added that it would also be creating a 7,500, 9,000, and 13,000-tonne capacity asphalt fleet which, it hopes, will provide future market competitiveness.

Georgia’s Brunswick port is expanding RORO capacity - again! An additional 50 paved acres for RORO will go online in the summer of 2025. This follows a recent addition of more than 120 acres, "part of $262 million in capacity enhancements for auto storage and warehousing recently added at Colonel’s Island," FreightWaves reports. For freight forwarders, RORO shipping isn’t just a new challenge—it’s a whole different ballgame. Forget the old container playbook; when it comes to vehicle shipping, you’ll need fresh strategies and a different set of tools to keep things moving smoothly. 🔗 In this article, we’re handing you the ultimate RORO toolkit to stay efficient and keep those wheels turning. Ready to roll? https://hubs.ly/Q02TfZMY0 #roroshipping #freightforwarding