Ictsi Reports $239.5 Million Net Income For Q1 2025

On Tuesday, April 29, the Port Commission of the Port of Houston Authority met for its regular monthly meeting. Chairman Ric Campo opened the meeting with an announcement that the Houston Ship Channel is once again ranked the number one waterway in the U.S., according to a recent report by the U.S. Army Corps of Engineers (USACE). Houston’s port handles approximately 12% of the nation’s total waterborne tonnage. An incredible 309.5 million short tons of cargo moved through the Channel in 2023, which is the most recent available data, reflecting a 5.3% increase in total tonnage from the previous year and far more cargo than any other port in the nation. In fact, volumes along the Houston Ship Channel are so large that the tonnage gap between Houston and the second-ranked port is larger than 97% of ports in the country. “This ranking reinforces just how vital the Houston Ship Channel is for our region and for the entire nation,” said Chairman Campo. “More than three million jobs depend on our Channel, and at Port Houston, it’s our job to protect this asset. With our Channel expansion project, known as Project 11, we are helping ensure this critical waterway remains open, safe, and competitive for decades to come.” The 52-mile-long Houston Ship Channel serves more than 200 private and eight public terminals, in industries from petrochemicals and heavy machinery to consumer goods and energy. Its economic influence extends far beyond port gates, supporting 3.37 million jobs nationwide and generating $906 billion in annual economic activity in the United States. Chairman Campo also commented on the current tariff situation. “We are, like everyone, analyzing the data and assessing the situation. Tariffs would impact our own expenses at Port Houston, including our STS crane purchases. We support the end goal of strengthening domestic manufacturing and encourage the administration to work with our industry to develop a path forward that minimizes unintended consequences on American workers, exporters and consumers.” Executive Leadership Team Retirements & Appointments Port Houston CEO Charlie Jenkins recognized Chief Operating Officer Tom Heidt, who is retiring after 43 years of working at the port. He has held several roles during his tenure, starting in accounting and assuming the role of Chief Operating Officer in 2015. “Tom has dedicated his career to Port Houston, and we appreciate him and all he has done to help grow the port to what it is today,” said Jenkins. “With his retirement comes the opportunity for new leadership, and we look forward to what is to come.” Jenkins went on to highlight other organizational changes, including that effective May 1, 2025, Chief People Officer Jessica Shaver will assume the role of Chief Administrative Officer, overseeing many aspects of the organization, including strategic planning and people management. Chief Business Equity Officer Carlecia Wright assumes the role of Chief People Officer, and the Director of Operations and Planning Candice Armenoff has been named Chief Strategy Officer, a new position. Port Houston is also actively searching for a Chief Operating Officer to oversee other important aspects of the organization, such as commercial, operations, maintenance, and infrastructure. Project 11 Updates & Operations Highlights Regarding Channel expansion efforts, the USACE is set to award their second Project 11 contract for the construction of the Beltway 8 Dredged Material Placement Area. Meanwhile, the two remaining Port-led Project 11 dredging contracts with Weeks Marine and Callan Marine are progressing on budget. The final segment in the Galveston Bay area, between Bayport and Barbours Cut, is anticipated to be fully completed and open to two-way traffic mid-2025. Operations updates indicated that the total tonnage across all public terminals through March is down 2%, but this is still an improvement over last month, which saw a decline mostly related to fog. Container volumes since the start of the year have surpassed 1 million TEU and remain fairly flat compared to 2024. The container terminals recorded the busiest March on record, driven by strong export volume, up 13% from last March. It is noteworthy that this was also largely driven by recovery from February’s low performance. Volumes at the multipurpose facilities remained down as well, at 7% since the start of the year, but they rebounded slightly month over month by 2%. This was driven by weak liquid imports and export dry bulk volumes, while steel was up 4% since the beginning of the year. Additional Meeting Updates & Announcements Earlier in the month, Charlie Jenkins met with Congressman Mike Collins, representative from Georgia and Chair of the Water Resources & Environment Subcommittee of the Transportation and Infrastructure Committee. They discussed the future of the Houston Ship Channel and its importance to the national economy, as well as how to improve the laws promoting maritime transportation and infrastructure. The relationship is particularly important as it is related to the WRDA bill, legislation that instructs the USACE on the intent of Congress and outlines priorities. Commissioners DonCarlos, Fitzgerald and Robb attended a ribbon cutting to celebrate the opening of the new Holly Bay Pavilion at Holly Bay Park in Pasadena, as part of Port Houston’s East Harris County Greenspace Program. “We were happy to be able to support this initiative and be part of the community’s beautification work, giving them a space to gather and enjoy the outdoors,” said Chairman Campo. It was also announced that the City of Houston along with Port Houston, and other partners, will be hosting the Navy Fleet Week for the first time in November 2025. “We are excited to be a part of this celebration, honoring 250 years of the U.S. Marines and Navy,” said Jenkins. “We will also be hosting a few ships at our terminals and look forward to partnering with the city on this exciting milestone event.” During the meeting, the Port Commission also approved the Port Authority’s Fiscal Year 2024 Annual Comprehensive Financial Report (ACFR) including the Report of Independent Public Accountants, with an unmodified opinion and no findings. The Port Commission meets next on Tuesday, May 20, 2025. Source: Port Houston

Norwegian car carrier player Wallenius Wilhelmsen has won a three-year shipping contract with an unnamed construction and mining equipment manufacturer. The contract is estimated to have a value of approximately $140m based on expected volumes over the three-year period. The company stated that the renewed agreement between the two began on May 1, 2025. The rates were amended in line with current market levels. The customer’s agreements include direct support for Wallenius Wilhelmsen’s decarbonisation initiatives with a new BAF scheme accommodating the expected evolution of the company’s fuel mix for the future. “Continuing our positive start to 2025, the significant multi-year contract further strengthens our long-standing partnerships in the high and heavy segment, extending predictability for both the customer and Wallenius Wilhelmsen,” said Pia Synnerman, chief customer officer at Wallenius Wilhelmsen.

Argentine officials now believe they have dealt a knock-out blow against organized crime and drug smuggling in what is being reported to be the largest drug seizure in the history of Port San Lorenzo. The investigations are ongoing to unravel some of the mysteries of the case and confirm the details provided by the ship’s cook, who has confessed to his role in the smuggling operation. The authorities believe the situation began in late April. The Greece-managed bulker Ceci (42,665 dwt) registered in the Marshall Islands arrived off Montevideo, Uruguay, on April 20, where she anchored for four days. She was arriving on a trip from the UAE and Bandar Imam Khomeini Port in Iran. On April 25, she docked at the inland port of San Lorenzo, Argentina, where she was loading 46,000 tons of pressed sunflower seeds and was scheduled to sail to Amsterdam. The situation began to unfold when on Tuesday night, April 29, the captain of the vessel made his rounds inspecting his ship as they prepared to get underway. In the cold food storage area holding the supplies for the crew, the captain spotted “suspicious packages.” He notified the shipping company, which in turn contracted the Financial Intelligence Unit. The Coast Guard descended on the ship and began a search using trained dogs. The police found a total of 16 carefully wrapped watertight bundles, and inside 379 packages. Testing confirmed 469,500 kilos of high-purity cocaine. The value in Argentina was set at nearly $6 million, with reports saying that if it had reached Europe, the value would have soared to at least $20 million. Along with the cocaine, the police found GPS devices, nets, ropes, and other gear that they suspect was used to possibly bring the cocaine aboard and would have been used to lower the bundles over the side of the ship at a designated drop point. The police said drop-on-drop-off is a common technique, but it means someone on the ship had to be assisting the professional gang behind the shipment. The cartels are known to look for “cheap labor,” seeking out low-level crewmembers on the ships. The 20 Filipino seafarers from the ship were detained and questioned. Media reports say the ship’s cook, Jonathan Caputero, confessed to his role. The police have arrested him, making him the first international crewmember to be apprehended in a smuggling effort. They are examining his cell phone, and the ship, as of May 7, remains in San Lorenzo. The police are still trying to corroborate the story told by the cook and determine key points such as when the drugs were loaded onto the ship. They began reviewing three days of videos from the San Lorenzo port. Some media reports are saying they found traces of salt water on the bales, which corresponds to the story told by the cook that the bales came aboard while they were anchored in Montevideo, but the police are suspicious that the drugs would have been loaded on an inbound ship. Media reports said the cook also told them that another ship had first been tagged for the shipment, but it was changed. He also indicated that additional drugs were to have been loaded in San Lorenzo, but they never materialized. One technique the police are considering is that the drugs came aboard via a boat alongside loading supplies on the ship. Another would be a speedboat meeting the ship, and the drugs being hoisted onto the deck.  Several of the major drug kingpins who would have led such an operation are in jail. The police are trying to determine who was behind this shipment and if a new leader is emerging for one of the cartels.

in International Shipping News 06/05/2025 Navigator Holdings Ltd., the owner and operator of the world’s largest fleet of handysize liquefied gas carriers, announces today that on May 2, 2025, its subsidiaries Navigator Gas L.L.C. and Othello Shipping Company S.A. (the “Borrowers”) entered into a senior secured term loan and revolving credit facility (the “Facility Agreement”), with Nordea Bank Abp filial i Norge, Danish Ship Finance A/S, Danske Bank A/S, DNB (UK) Limited, ING Bank N.V., London Branch and Skandinaviska Enskilda Banken AB (publ), pursuant to which such lenders made available to the Borrowers up to $300 million, subject to the terms and conditions set out in the Facility Agreement. The loan is available to be drawn by the Company not later than June 30, 2025, and will be used to repay the Company’s existing September 2020 secured loan facility in the amount of $143.4 million due to mature in September 2025, and the Company’s existing October 2013 secured loan facility due to mature in May 2027 in the outstanding amount of $14.7 million, and thereafter be available for general corporate and working capital purposes. The Facility Agreement has a tenor of six years, maturing in 2031, and amounts outstanding will bear interest on a quarterly basis at SOFR plus 170 basis points. The Facility Agreement is secured by eight of the Company’s vessels. Obligations under the Facility Agreement are guaranteed by the Company. The Facility Agreement contains certain conditions, covenants and events of default. Mads Peter Zacho, Chief Executive Officer, commented: “The signing of the Facility Agreement is a key milestone for Navigator Gas in 2025 and continues to underscore our commitment to build on our strong financial footing while significantly pushing out our debt maturities. Against the backdrop of current global economic uncertainty, we believe the signing of the Facility Agreement at a record low margin for the Company also demonstrates the confidence shown in Navigator Gas by our banking partners.” Source: Navigator Gas

New York-listed offshore driller Valaris has been awarded a five-well contract offshore West Africa for one of its drillships. The contract, awarded to the 2014-built Valaris DS-15 drillship by an undisclosed client, is expected to begin in the third quarter of 2026. Based on an estimated duration of 250 days, the total contract value is approximately $135 million, including upfront payments for rig upgrades and mobilisation. The total contract value does not include the provision of additional services. The contract includes priced options for up to five wells with an estimated total duration of 80 to 100 days. “As part of this contract, the rig will be upgraded with an enhanced managed pressure drilling system. In addition, this contract adds to our presence offshore West Africa, where we are well positioned for future contracting opportunities,” said Anton Dibowitz, Valaris president and CEO. Valaris also announced that it sold the 27-year-old Valaris 247 jackup, currently operating offshore Australia, to BW Energy for cash proceeds of around $108m. The sale is expected to close in the second half of 2025. As part of the sales agreement, BW Energy will be restricted from using the rig outside of its affiliated properties for the rig’s expected remaining useful life. BW Energy previously announced that it acquired a jackup, which will be converted into a wellhead platform on its Maromba development offshore Brazil. The development involves an initial six production wells from the wellhead platform, converted from a drilling jackup with up to 16 well slots and flowlines. The well slots and flowlines will be connected to the redeployed FPSO BW Maromba, formerly known as Polvo. The FPSO refurbishment and life extension work is already underway at the COSCO yard in China. In a recent fleet status update, Valaris said that its contract backlog increased to approximately $4.2bn from approximately $3.6bn as of February 18, 2025. The contract backlog excludes lump sum payments such as mobilisation fees and capital reimbursements.

EBITDA grew 18 per cent to $489.59 million, while net income attributable to equity holders rose 14 per cent to $239.54 million, driven by higher operating income but offset by increased depreciation and amortisation. Excluding one-off items from 2024, net income would have increased by 25 per cent. Diluted earnings per share rose 17 per cent to $0.116 from $0.099. ICTSI handled 3.47 million TEUs in Q1 2025, up 12 per cent from 3.09 million TEUs in the same period in 2024. READ: ICTSI reports $2 billion revenue from port operations According to the operator, the increase was driven by new services, improved trade activity at certain terminals, volume recovery at CGSA in Ecuador, and contributions from the new Visayas Container Terminal in the Philippines, partially offset by the deconsolidation of OJA in Indonesia. Excluding the effects of new and discontinued operations, volume growth remained at 12 per cent. READ: ICTSI announces record net income of $850 million Enrique K. Razon Jr., ICTSI Chairman and President, said:  “I am pleased to report a strong start to the financial year with ICTSI delivering an increase in revenues of 17 per cent to $745.42 million and setting another record high net income of $239.54 million, up 14 per cent. “Our international portfolio performed very well with consolidated volume up 12 per cent. Our balance sheet is robust and cash generation has been strong.” In April, Basra Gateway Terminal (BGT), ICTSI’s operation at the Port of Umm Qasr, handled the HMM Daon—the largest container vessel to call at the port.

India’s exports rose 6.01% year-on-year to an all-time high of $824.9 billion in 2024-25, propelled by a 13.6% on-year rise in services exports to a record $387.5 billion, showed the Reserve Bank of India’s (RBI) final services trade data released. March alone saw services exports surge 18.6% on-year to $35.6 billion, reflecting continued global demand for India’s IT, business, financial, and travel-related services. The merchandise segment also contributed to the overall rise, with non-petroleum goods exports reaching a new peak of $374.1 billion in 2024-25, up 6% from $352.9 billion a year ago. This is the highest annual figure for India’s non-petroleum merchandise shipments, offering some reassurance when traditional goods exports have been under pressure from tightening global demand and geopolitical disruptions. This sharp rise in exports, which stood at $778.1 billion in 2023-24, comes when India is actively working to expand its trade footprint via bilateral and multilateral agreements, and is positioning itself as a resilient, service-driven exports economy amid shifting global supply chains. India is attempting to consolidate its global trade presence through ongoing free trade agreement negotiations, particularly with the European Union and the UK, and amid efforts to mitigate the impact of retaliatory tariffs introduced by the US. Experts see the performance as an indication of India’s growing competitiveness in high-value services and diversified goods sectors. While petroleum and other commodity-linked exports remained relatively subdued due to volatile global prices, the continued expansion in digitally driven services and value-added manufacturing suggests a structural shift in India’s exports composition. The RBI numbers are likely to boost policymakers’ efforts to promote trade-led growth as part of India’s broader 2047 development vision. Meanwhile, India’s trade surplus with the US jumped 16.6% in 2024-25, ballooning to $41.18 billion from $35.32 billion a year ago, even as US President Donald Trump prepared to hike US tariffs in protest. According to 15 April commerce ministry data, Indian goods exports to the US rose by 11.6%, from $77.52 billion in 2023-24 to $86.51 billion in 2024-25. Imports from the US also rose, but just 7.42%, from $42.20 billion to $45.33 billion. Globally, India’s trade deficit widened sharply to $21.54 billion in March, rising from a three-year low of $14.05 billion in February. Merchandise exports for the fiscal year stood at $437.42 billion, marginally higher than the $437.07 billion recorded a year ago, while imports stood at $720.24 billion, up from $678.21 billion in 2023-24, showed the commerce ministry data. March’s goods exports stood at $41.97 billion and imports at $63.51 billion, compared with $36.91 billion of exports and $50.96 billion of imports in February.

Full imports (excluding Bass Strait) at the Port of Melbourne stood at 99,000 TEUs, down 10.5 per cent YoY, while full exports declined 6.2 per cent to 62,000 TEUs. Empty container volumes also dropped significantly, down 12.8 per cent to 68,000 TEUs. Bass Strait volumes softened slightly to 17,000 TEU (down 6.2 per cent), while full transshipments grew substantially, rising 58.5 per cent YoY to reach 21,000 TEUs. READ: Port of Melbourne witnesses YoY TEU drop in February Looking at the financial year to date (FYTD), total container trade reached 2.55 million TEUs, a 5 per cent increase or 120,500 TEUs more than the same period in FY24. Imports and exports (excluding Bass Strait) rose 4.3 per cent and 7.8 per cent respectively, while full transshipment surged nearly 20 per cent, indicating stronger underlying trends despite the March dip. In 2024, the port handled 3.396 million TEUs, a more than 9 per cent increase over 2023 levels and its biggest yearly container trade volume ever. The port noted that its high container commerce in 2024 was driven by a rise in import trade, notably consumer products like furniture.

Denmark has announced a big plan to support its shipping industry in case of potential conflicts. The government plans to set aside nearly $1 billion to insure Danish cargo ships if private insurance companies stop offering coverage during dangerous situations. On May 1, the Danish government announced that it would activate a special public insurance agency called the War Insurance Institute. This agency will offer insurance when regular companies back out due to war or crisis. It will have access to a 6 billion-krone loan fund to help pay for any damage claims. The Business Minister said that rising global tensions, especially in Europe, have pushed the country to be ready for worst-case scenarios. He said that it is better to be prepared ahead of time. Denmark is a major player in global shipping. By the end of 2023, its merchant fleet was worth over 135 billion kroner (about $20 billion). It’s also home to AP Moller Maersk, the world’s second-largest container shipping company, which runs more than 700 ships and handles around 17% of global container trade. The new insurance plan is meant to act like a safety net- a backup incase war or political chaos makes it impossible to get regular insurance. The government stated that this is not a reaction to a specific event, but a smart move to stay ready. This plan comes at a time when cargo ships are facing more threats in places like the Red Sea and the Gulf of Aden. Insurance costs for those areas have jumped, with war risk premiums going up 10 times in some regions. Security reports show a 43% increase in attacks or incidents involving cargo ships over the past 18 months. The Danish government plans to bring the bill to Parliament later in 2025, and if it’s approved, the system could start in early 2026. Other shipping nations, like Singapore and Greece, are also exploring ways to team up with the private sector to cover insurance gaps during wartime. Reference: Bloomberg 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. Do you have info to share with us ? Suggest a correction

The Danish government has unveiled plans to establish a state-backed US$1 billion war risk insurance programme for the shipping sector, intended as a safeguard in case commercial insurance markets become unavailable. Describing the proposal as a “timely precaution,” the government plans to present the initiative to parliament for a vote later this year. “There are global tensions and war on European soil,” said Denmark’s Business Minister Morten Bodskov. “It’s essential that we are prepared—even for the worst-case scenarios.” Anne Steffensen, CEO of Danish Shipping, the national shipowners’ association, commented: “The timing is exactly right for the activation of the War Insurance Institute. It’s always wise to be well insured. And of course, the shipping companies are covered through the regular commercial market. But in an extraordinary war scenario, it can be critically important that the Danish merchant fleet is still able to operate. This proposal contributes to securing that possibility if Danish shipping can no longer be covered by commercial insurance. And like with all other insurance schemes, I sincerely hope we never have to use it.”

in International Shipping News,Shipping: Emission Possible 01/05/2025 A full transition to greener refrigerated containers (“reefers”) could reduce greenhouse gas emissions by up to 3.74 million tons of CO₂-equivalent per year, according to a new White Paper developed by the Kuehne Climate Center and GIZ, equivalent to the emissions generated by the production of 872,375 gasoline-powered passenger vehicles per year. Natural refrigerants such as propane match or outperform traditional refrigerants in cooling performance while having significantly lower global warming potential. Eliminating PFAS, harmful “forever chemicals” that are highly persistent, from the supply chain is another key benefit, as many of today’s commonly used synthetic refrigerants gradually break down into these persistent pollutants. Natural refrigerants do not generate these substances, making them a safer and cleaner alternative. Furthermore, operational improvements throughout the cold chain, including better insulation and temperature control could reduce energy consumption by up to 20%. Reefers play a critical role in transporting food, pharmaceuticals, and other sensitive goods worldwide. Despite comprising only 15% of the global container fleet, based on the latest International Maritime Organization information the ca. 2.5 million refrigerated containers currently in use have a disproportionately large climate footprint due to their energy-intensive cooling systems and the use of refrigerants such as R134a and R404A — which have global warming potentials thousands of times higher than CO₂ and significantly accelerate the climate crisis when released. In 2018 alone, leaks from these refrigerants led to 3.74 million tons of CO₂-equivalent emissions. Moreover, PFAS, persistent chemicals that contaminate soil and water, pose significant health risks such as hormonal imbalances, immune system effects, and certain cancers. The technology to replace today´s refrigerants already exist. Natural refrigerants like propane and carbon dioxide, which are widely used in other sectors, can be effectively applied in refrigerated maritime containers. These alternatives offer strong cooling performance, significantly lower climate impact and eliminate PFAS contamination risks. While the transition to greener refrigerants like propane and carbon dioxide involves higher upfront costs and additional safety requirements, the White Paper concludes that the shift is both technically feasible and economically viable in the long term. However, barriers such as regulatory complexity, flammability standards, and the additional costs associated with introducing these substances into existing operations, such as infrastructure adjustments and technician training, represent manageable challenges to be addressed as part of the implementation process. The right policy support, financial incentives, and industry collaboration would be essential to accelerate the adoption and make the transition cost-effective at scale. Momentum for change is growing. Global policies such as the EU F-Gas Regulation, which aims to phase down the use of fluorinated greenhouse gases, the Kigali Amendment to the Montreal Protocol, and the International Maritime Organization’s climate targets are driving the industry towards cleaner solutions. Regulation on PFAS is also anticipated. Companies that take proactive steps now can stay ahead of regulations, reduce emissions, and align with the growing market demand for sustainable supply chains. “Bold action is not just necessary – it is possible,” says Otto Schacht, Advisor to the Kühne Foundation and former Head of Global Sea Logistics at Kuehne+Nagel. “This White Paper is both a call to action and a source of inspiration for stakeholders across the maritime ecosystem. The insights presented here showcase the immense potential of transitioning to climate- and environment-friendly reefer technologies.” The Greener Reefers White Paper was developed by the Kuehne Climate Center in cooperation with GIZ – “Deutsche Gesellschaft für Internationale Zusammenarbeit”. It was created as part of the Greener Reefers Transition Alliance, a collaborative initiative that aims to accelerate the shift towards sustainable refrigerated shipping by promoting natural refrigerants, energyefficient technologies, and systems-level innovation. By bringing together industry leaders, innovators, and key stakeholders, the Alliance supports an enabling environment for greener reefer adoption, advancing the goals of the International Maritime Organization’s reduction strategy and the Paris Agreement. Source: Kuehne Climate Center

May 1, 2025 Port Canaveral is investing upwards of $500 million in landside and waterside improvements as part of its “Port Canaveral Advantage” plan to expand capacity and capabilities across all aspects of its business operations. "Port Canaveral Advantage" is a port-wide continuous improvement program that identifies near- to long-term needs for enhancements and upgrades to Port assets and operations. Within a five-year planning window, the program includes large-scale, high value critical infrastructure projects associated with new cruise ship arrivals, modernizing and expanding cargo berths and bulkheads, upgrading facilities maintenance, deploying new technologies across a spectrum of operations and renovations to the Port’s recreational facilities like Jetty Park. Several cruise-related projects are about to get underway at Port Canaveral, including the expansion of Cruise Terminal 5 (CT-5). The design project, awarded to BEA Architects of Miami, will increase the terminal’s size by 65 percent to accommodate larger vessels.  During an estimated 16-month construction period, the cruise terminal would continue to operate without interrupting scheduled ship turns. Cruise Terminal 5 is one of the terminals slated for expansion. Credit: Canaveral Port Authority In addition to expanding CT-5, the Port plans to enhance Cruise Terminal 10 to expand its capacity beginning with a feasibility study that is expected to be completed by June 2025. The project’s goals include expanding the terminal’s capacity to accommodate the world’s largest cruise ships up to 5,600 passengers and berthing up to 1,200 feet in length. Exterior upgrades at Cruise Terminal 1 will begin in May 2025 and include new canopies and walkways, updated landscaping, and new lighting to create a refreshed west entrance for cruise guests arriving at this very popular and busy terminal. These terminal upgrades are in addition to refurbishments to the adjacent cruise parking garage with new paint, landscaping, and perimeter fencing plus gangway upgrades. Rendering of covered walkway project for Port Canaveral’s Cruise Terminal 1. Credit: Canaveral Port Authority Earlier this year, the Port established a new Cruise Automation Team with dedicated responsibility for the safe and efficient operation of the Port’s passenger boarding bridges, leading to a superior embarkation and debarkation experience for guests.  On the commercial cargo side, Port plans are developing to renovate existing pier structures on the south side of the Port to create additional multipurpose, multiuser berth space and improve vessel turn times, while renovations to two north side cargo berths—North Cargo Berths 3 and 4—are nearing completion adding 1,800 linear feet of multipurpose bulkhead space. Ongoing improvements include harbor deepening and berth box dredging to accommodate larger vessels, seawall and uplands facility upgrades, and the addition of a third mobile harbor crane set to arrive later this year. Roadway improvements are also underway to improve access to and from cargo terminals, ease roadway congestion and reduce truck wait times. Port Canaveral’s Jetty Park, a beach and campground that attracts nearly 400,000 visitors a year, is also undergoing some major upgrades with a new camp store, guest cabins and dog park, renovated bathhouses, roadway and lighting improvements, playground refurbishments, and redesigned public boat ramps at Rodney Ketchum Park. Port visitors and guests will also notice new landscaping and entrance enhancements to The Cove, lined with popular restaurants and watering holes.

May 1, 2025 The $165 million expansion of DP World’s container terminal at the Port of Maputo officially started on site today. Mozambique’s Minister of Transport and Logistics, the Honourable João Jorge Matlomb, was guest of honor at the ground-breaking event. The expansion of the container terminal at the Port of Maputo is part of a long-term strategy to meet global trade demands, create thousands of new jobs and contribute to Mozambique’s economic growth. The project will enhance capabilities of the port, positioning Maputo as a trade and logistics hub for Southern Africa and opening a gateway for larger container ships. The port will be equipped with the latest technology and infrastructure to boost operational capacity and efficiency, with the terminal yard and quay undergoing a complete revamp and modernization. Yard capacity will increase by 6.48 hectares, doubling throughput from 255 000 TEUs to 530 000 TEUs, while the total quay length will be extended to 650 meters and the berth deepened to 16 meters. To manage larger container volumes and a diverse range of commodities, new equipment will be introduced, including three ship-to-shore (STS) cranes capable of handling post-Panamax ships and an expanded fleet of rubber-tyred gantry (RTG) cranes, complementing the existing mobile harbor crane (MHC) fleet. Reefer container capacity will increase to over 700 plugs, supporting the growth of agricultural exports. Considerable technological enhancements will usher in a new era of fully automated and predictable operations, including the automation of gate facilities using optical character recognition technology which will streamline container number, condition and client identification processes, thereby cutting transaction times and minimizing liabilities. In addition, the terminal operation system (TOS) will be enhanced, a robust vehicle booking system (VBS) will be implemented, and the port’s client community system (CCS) will be digitized for better connectivity with shipping lines, customs, and banks. The project also prioritizes the welfare of the workforce with new facilities to accommodate additional personnel, ensuring their wellbeing and the availability of a skilled labour force. Enhanced security measures, including broader live monitoring and advanced CCTV technologies, will improve operational safety.

The company witnessed their net profit surge to $4.24 billion, marking a $3.27 billion increase from the previous year. Jeremy Nixon, CEO of ONE, said: “We are pleased to report a profit of $4.24 billion for FY2024 — an achievement realised despite ongoing geopolitical tensions and regional economic uncertainties. “Through our participation in the newly established the Premier Alliance, we have further expanded our global network and enhanced our service offerings.” Recently, ONE launched its Intra-Greece Express (IGX) service to enhance connectivity between Thessaloniki and Piraeus. Additionally, the Port of New York and New Jersey celebrated the maiden voyage of the ONE Eagle at Port Liberty Bayonne.

Trader Trafigura Tuesday said it would supply four million barrels of Oman crude Indian refiner Bharat Petroleum Corp BPCL with deliveries starting in May. “Trafigura will supply quarterly cargoes, destined for BPCL’s Kochi Refinery, until March 2026,” it said in a statement. BPCL operates a 310,000 barrels per day refinery at Kochi in southern Kerala state. Source: Reuters

Italian offshore engineering and construction giant Saipem has won a contract from Eni for work on the Liverpool Bay CCS project in the UK. The value of the contract is estimated approximately €520m ($592m) over the three years required to complete the project. The Liverpool Bay CCS project will serve the HyNet industrial cluster, situated in one of the UK’s most energy-intensive industrial districts. Saipem’s scope of work concerns the EPC and assistance to the commissioning of a new CO2 electrical compression station. This new facility will be integrated with both the offshore and onshore segments of the overall development. The gas compression and treatment facility will allow for permanent CO2 storage in offshore depleted fields under Liverpool Bay. This comes less than a week after Eni reached the financial close with the UK Government’s Department of Energy Security and Net Zero for the project. The Liverpool Bay CCS project will operate as the backbone of the HyNet Cluster to transport carbon dioxide from capture plants across the North West of England and North Wales through new and repurposed infrastructure to safe and permanent storage in Eni’s depleted natural gas reservoirs, located under the seabed in Liverpool Bay. The project itself foresees the efficient repurposing of part of the offshore platforms as well as 149 km of onshore and offshore pipelines, and the construction of 35 km of new pipelines to connect industrial emitters to the Liverpool Bay CCS network.

The crew of the U.S. Coast Guard Cutter Kimball (WMSL 756) offloaded approximately 18,898 pounds of cocaine, with an estimated value of more than US$214.3 million, on Thursday in San Diego, USA. The offload in San Diego is a result of six separate suspected drug smuggling vessel interdictions or events off the coasts of Mexico and Central and South America by the Coast Guard Cutter Kimball and Coast Guard Cutter Forward during the months of February through April the U.S. Coast Guard announce. Multiple U.S. agencies, including the Departments of Defense, Justice, and Homeland Security, collaborate in the effort to combat transnational organized crime. The Coast Guard, Navy, Customs and Border Protection, FBI, Drug Enforcement Administration, and Immigration and Customs Enforcement, along with allied and international partner agencies, all play a role in counter-narcotic operations.   The Coast Guard Cutter Kimball is one of two legend-class national security cutters homeported in Honolulu, Hawaii as the USCG mentions. Video credit: U.S. Coast Guard.

CEVA Logistics, the logistics arm of French shipping giant CMA CGM, has signed a binding agreement to acquire 100% of Turkish logistics provider Borusan Tedarik Zinciri Çözümleri ve Teknoloji Anonim Şirketi. The deal, valued at approximately US$440 million, is subject to customary net cash and working capital adjustments. Borusan Holding currently owns 69.47% of Borusan Tedarik, while 30.53% is held by the publicly traded Borusan Yatırım. The acquisition, which includes Borusan Tedarik’s subsidiaries in Germany, Bulgaria, Hong Kong, and China, remains subject to regulatory approvals and standard closing conditions. Borusan Tedarik offers a broad range of logistics services in Turkey, including contract logistics, finished vehicle logistics (FVL), full truckload (FTL) and less-than-truckload (LTL) ground transportation, as well as air and ocean freight and customs services. In 2024, the company generated gross revenues of US$567 million, serving a diverse mix of international and leading domestic customers. Following the completion of the transaction, approximately 4,000 Borusan Tedarik employees will join CEVA Logistics. The acquisition is set to significantly expand CEVA’s presence in Turkey, nearly doubling its domestic warehousing and distribution footprint by adding around 570,000 square meters to its current 620,000 square meters. Ground transport operations will also be strengthened, with the combined network expected to handle nearly 1 million domestic shipments annually, and bolster CEVA’s European connectivity. Borusan Tedarik’s strong relationships in the automotive sector are expected to reinforce CEVA’s finished vehicle logistics (FVL) capabilities, positioning it among the top three global players in the segment. Additionally, the deal will expand CEVA’s ocean freight capacity by 25% and elevate its airfreight operations into the top five within the Turkish market. Since its acquisition by CMA CGM in 2019, CEVA Logistics has pursued an aggressive growth strategy, integrating major players such as Ingram Micro’s CLS division, GEFCO, and most recently, Bolloré Logistics. The company has also executed numerous domestic bolt-on acquisitions and joint ventures to accelerate its expansion across key markets and sectors.

Ukrainian authorities have seized a foreign cargo vessel accused of transporting stolen grain from Crimea, in a joint operation carried out by Ukraine’s Security Service (SBU) and the State Border Guard Service (SBGS). The ship was intercepted in the internal waters of the Black Sea, Ukraine announced. Investigators confirmed that the ship had loaded around 5,000 tons of wheat from the port of Sevastopol at the end of 2024. Sevastopol is located in Crimea, which Ukraine continues to regard as a temporarily occupied part of its southern territory. To hide the grain’s true origin, the vessel operated under the flag of one of the Asian countries-a tactic authorities say is commonly used by Russia’s “shadow fleet”. During the search operation, Ukrainian forces found documents, navigational equipment, and other physical evidence linking the ship and its crew to the illegal transportation of Ukrainian agricultural products. The vessel was immediately arrested, and its crew was detained for further legal procedures. A pre-trial investigation into the incident is ongoing. The SBU stated that the seized ship was involved in helping Russian forces loot and sell Ukrainian grain to third countries. The operation was conducted by officers from the SBU units in the Autonomous Republic of Crimea and Odessa region, working together with the maritime protection units of the State Border Guard Service and the Naval Forces of Ukraine, under the procedural guidance of the Prosecutor’s Office of Crimea and the city of Sevastopol. Ukrainian officials have accused Russia of consistently stealing Ukrainian agricultural products since it occupied Crimea in 2014. According to open media reports like Bellingcat and Lloyd’s List, Russia has been moving grain out of Crimea for years. Ukrainian authorities have warned countries against buying stolen grain. Earlier in 2024, Ukraine had detained another vessel on the Danube River, which had transported grain from Crimea both in 2023 and again in 2024. After a court case, that ship was handed over to be Ukrainian state, and the captain along with an officer were arrested for prosecution. Ukraine’s latest action comes as political tensions grow over the status of Crimea. President Volodymyr Zelensky has reiterated that under Ukraine’s constitution, Crimea remains part of Ukraine and cannot be surrendered. He has previously called Crimea a “red line” in any negotiations to end the war with Russia. Meanwhile, US President Donald Trump said in an interview published by Time Magazine on April 25 that “Crimea will stay with Russia,” and suggested that Zelensky “understands that.” Trump has criticised Ukraine, blaming it for prolonging the conflict and hindering peace talks, which he said he is keen to conclude. Ukraine’s announcement about the seized vessel came just before a planned meeting between US Special Envoy Steve Witkoff and Russian President Vladimir Putin to discuss efforts to move the peace negotiations forward. At the same time, Ukraine’s National Resistance Centre recently reported that Russia is building a large agricultural market in occupied Mariupol, which officials believe is intended to support the export of stolen Ukrainian goods. Ukraine has also found evidence that grain taken from occupied territories is being shipped to countries such as Iran. The Ukrainian authorities stated that they will continue operations to stop the illegal export of Ukrainian resources from occupied territories. References: newsukraine, pravda 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. Do you have info to share with us ? Suggest a correction

Deendayal Port Authority, Kandla has achieved a major milestone by crossing the 10 million Metric Tonnes (MMT) cargo handling mark as of April 25, 2025 — two days ahead of last year’s timeline. This accomplishment highlights DPA’s growing momentum, operational excellence, and unwavering commitment to service. The Chairman, DPA, congratulated all stakeholders, port users, trade unions, employees, and workers for their remarkable contribution and wholehearted support in achieving this feat.