BW Lesmes completes first GUCD milestone with LNG bunker barge

BW Lesmes has completed its first gassing-up and cool-down (GUCD) operation using an LNG bunker barge, according to BW LNG.

The procedure brings the vessel from inert gas conditions to cargo readiness following drydock and requires tightly controlled execution.

The operation was a first for the company, introducing challenges across planning and onboard delivery.

Master Capt. AdityA Sharma, the crew of BW Lesmes and shore-based operator Zekai Çolakoğlu executed the process with a focus on safety and coordination

The milestone adds operational capability in handling GUCD procedures involving bunker barges and supports deployment in similar conditions.

BW LNG is a company engaged in the ownership and operation of LNG carriers and floating gas infrastructure, including floating storage and regasification units, supporting the global gas supply chain.

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Scorpio Tankers Inc. Announces Update on its Liquidity, Outstanding Debt, and Vessel Purchase Commitments

Scorpio Tankers Inc. announced today an update on its liquidity, outstanding debt, and its forward newbuilding vessel commitments.

Update on Current Liquidity and Debt

The table below summarizes the Company’s outstanding indebtedness and liquidity as of the dates presented, and on a pro-forma basis to illustrate the impact of announced vessel sales and debt repayments that are pending closing:

The Company has $783.9 million in availability under its revolving credit facilities as of January 9, 2026.

Since October 28, 2025, the Company sold its remaining 3,551,794 common shares in DHT Holdings Inc. at an average price of $13.40 per share.

In November 2025, the Company closed on the previously announced sales of the 2020 built MR product tanker, STI Maestro for $42.0 million and the 2014 built MR product tankers, STI Battery, STI Venere, and STI Milwaukee, each for $32.0 million.

In early December 2025, the Company closed on the previously announced sales of the 2014 built MR product tanker STI Yorkville for $32.0 million and the 2019 built LR2 product tanker STI Lobelia for $61.2 million.

Newbuilding Purchase Commitments

The table below summarizes the Company’s previously announced commitments to purchase newbuilding vessels consisting of two Very Large Crude Carriers (“VLCCs”) with deliveries expected in the second half of 2028, two LR2s with deliveries expected in the third quarter of 2027, and four MRs with a delivery expected in each of the second and fourth quarter of 2026 and two deliveries in 2027.

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Supporting long-term and sustainable outcomes in US shipping

With international shipping contributing approximately 2 per cent of global greenhouse gas emissions, the sector requires a greater steer towards meeting global 2050 net zero targets.

By adopting net zero measures, ports can evolve into clean energy precincts that reduce emissions while enhancing competitiveness. Through efforts to decarbonise operations, ports can help to streamline cargo handling and support the long-term sustainability of the sector.

Additionally, as pivotal hubs in the global supply chain which link stakeholders such as shipping companies, rail networks, and logistics providers, port operators can help facilitate practical and scalable solutions to support decarbonisation across the industry more broadly.

Approach

In 2019, Macquarie Asset Management (MAM) acquired Long Beach Container Terminal (LBCT), supporting the southern California port in its efforts to meet its Net Zero 2030 Climate Action Plan.

As part of the combined Los Angeles-Long Beach port complex – the largest cargo gateway in North America, responsible for handling approximately 30 per cent of all US container volumes – LBCT plays an important role in advancing sustainable port operations.

Partnering with MAM, LBCT developed and launched an ambitious Net Zero 2030 Climate Action Plan (“the Plan”), aimed at establishing the port as the first net zero emissions terminal in the US. The plan takes a practical approach, focusing on four key areas to address the environmental and social impacts of its operations:

Integrating zero emissions planning, processes and goals into LBCT policies, programmes, and investment decisions

2. Ensuring zero emission equipment, facilities, and infrastructure

3. Advocating for policies and funding to encourage system-wide change in goods movement

4. Incorporating community considerations into climate actions

To support the execution of the Plan, in December 2021 MAM worked with LBCT to appoint a new Director of Sustainability to drive net zero business planning alongside other sustainability initiatives.

With more than $US2.5 billion of investment over the past decade, LBCT has implemented measures that demonstrate commercial and decarbonisation goals can be achieved simultaneously.

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Dry Bulk Market: Capesizes Building Momentum

 

The Capesize market closed the week on a distinctly firmer footing, with gains building across both basins. The BCI 5TC advanced steadily, rising from just over $26,000 at the start of the week to $28,504 by close of play. The Pacific regained strength after a soft start, supported by consistent miner activity and a notable pickup in coal demand, with C5 rates gradually firming into the $10.90–$11.00 range as the week progressed. In the Atlantic, the picture was more nuanced. From South Brazil and West Africa to China, the market retained a clear contango structure, with early October weighed down by supply, while demand later in the month prompted vessels to position for forward laycans. As the prompt window cleared, sentiment improved, with C3 fixtures reported closer to $25. The North Atlantic also showed resilience, with healthy fronthaul demand and transatlantic activity driving notable gains on the back of tightening tonnage availability.

Panamax
Another softer week for the Panamax market as owners continued to feel the recent pressure, particularly in the Atlantic basin where owners’ resistance was hard to find with early tonnage and ballaster tonnage continuing to discount. The P1A route saw a dramatic correction as demand fell away, losing circa $4,000 week-on-week. Activity ex EC South America was minimal for index arrival dates, with earlier date arrivals heavily discounted this despite a sizeable number of deals concluded by grain houses. Asia returned good demand overall, rates appeared to have found a floor mid-week with owner’s resistance appearing more substantiated. Rates of low $14,500’s were seen on index duration trips on index types, whilst much of the Indonesia demand continued to be absorbed by smaller/older tonnage rates hovered around the low-mid $13,000’s mark all week. Period activity was minimal, although reports emerged of an 81,000-dwt delivery Thailand fixed for 2 years, index linked at 112% to the BPI82 index.

Ultramax/Supramax
Mixed fortunes for the owing side this week depending upon where vessels were open. Overall, the Atlantic maintained a healthy volume of demand both from the North and South Atlantic, although as the week came to a close sentiment was a little low from South America. From the US Gulf a 63,000-dwt was heard for 2 to 3 laden legs redelivery Singapore-Japan at $26,000. Further south, a 63,000-dwt was heard fixed basis delivery EC South America for a trip China at $16,500 plus $650,000 ballast bonus. Elsewhere a 52,000-dwt was fixed basis delivery West Africa for a trip via Kamsar redelivery Ireland at $18,750. A different story from the Asian arena despite demand being seen from the north for backhaul business sentiment was rather negative. A 56,000-dwt was fixed basis delivery Surabaya for a trip via Indonesia redelivery WC India at $17,000. Whilst north, a 64,000-dwt was fixed from North China to West Africa at $18,000 but this included steels.

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India’s GAIL in initial talks for long-term LNG deal with Alaska LNG, sources say

India’s state-run GAIL is in initial talks to buy liquefied natural gas from the proposed Alaska LNG project as the South Asian nation expands its import capacity, three industry sources with knowledge of the matter said.

The talks with developer Glenfarne come as India works to raise its energy imports from the United States to narrow its trade surplus as part of a broader trade agreement with Washington to avoid the imposition of hefty U.S. tariffs.

GAIL’s discussions are preliminary as the landed cost of LNG will be a crucial deciding factor for the deal, the sources said.

Glenfarne said last month that 50 firms had formally expressed interest in contracts with Alaska LNG. The project, championed by U.S. President Donald Trump, has been stuck on the drawing board for more than a decade.

GAIL did not respond to Reuters email seeking comment on the talks.

“Glenfarne does not comment on or confirm individual commercial negotiations, but Alaska LNG’s growing commercial momentum reflects the project’s competitive economic and geostrategic advantages,” it said in an emailed statement to Reuters.

India, the world’s fourth-largest LNG importer, aims to increase the share of gas in its energy mix to 15% by 2030, up from about 6% currently, to reduce its carbon footprint.

GAIL plans to increase the capacity of its 5 million metric tons per year Dabhol LNG terminal to 6.3 million tons per year by mid-2027 and to 12.5 million tons per year by 2031-32.

Earlier this year GAIL invited initial bids from companies as it seeks to buy equity in an existing LNG project or a new project that would be commissioned by 2030 at the latest.

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Baltic index logs third weekly loss on weaker rates across vessel segments

The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Friday and posted its third straight weekly loss, weighed down by weaker rates across vessel types.

The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, dropped 46 points to 778 points, its lowest level since February 2023. The index was down over 21% for the week.

The capesize index (.BACI) slipped 98 points to 983 points, dropping to its lowest level since March 2023. The index extended losses to a second straight week and was down over 29% for the week.

Average daily earnings for capesize vessels (.BATCA), which typically transport 150,000-ton cargoes such as iron ore and coal, lost $811 to $8,156.

Dalian iron ore futures rose on Friday to log a small weekly gain, aided by resilient demand in top consumer China, even as investors fretted over mounting trade tensions between the United States and China.

The panamax index (.BPNI) fell 30 points to 774 points, hitting its lowest since May 2020. The index fell for the third straight week and was down 13.7% during the week.

Average daily earnings for panamax vessels (.BPWT), which usually carry about 60,000-70,000 tons of coal or grain, decreased by $270 to $6,969.

Among smaller vessels, the supramax index (.BSIS) was down 15 points at 639 points, its lowest since February 2023. The index was down for the fifteenth straight week and fell 14.5% during the week.
Source: Reuters

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Spiken – Second Groundbreaking Lake Vanern Max Delivered To Erik Thun Group

Erik Thun Group are proud to announce the delivery of our second groundbreaking vessel, the Lake Vanern Max, named MV Spiken.

This innovative new generation of dry cargo vessels are designed to set new standards in the shipping industry with its advanced technologies and eco-friendly features; a plug-in hybrid designed to minimise emissions and maximise cargo.

The latest addition to Erik Thun Group’s fleet, MV Spiken, was delivered this Tuesday and has now reached Wismar, Germany for her very first loading. Spiken is the second sister of six vessels ordered in the same series, to be incorporated into Erik Thun Group’s fleet.

Named after the fishing village Spiken, one of Europe’s largest freshwater harbours with its rich marine life located just north of Lidköping, the village symbolizes tradition and innovation, much like our new vessel. This connection underscores our commitment to honouring local heritage while advancing modern maritime technology.

Our Lake Vanern Max, Spiken, represents a significant leap forward in maritime technology, addressing our clients’ top priorities of fuel efficiency, electrical innovation, maximum cargo capacity, while helping them achieve their sustainability goals. The design focuses on maximising cargo capacity, enabling us to handle more cargo within restricted waterways like Lake Vanern. The optimised bow design also allows the vessel to carry significantly more cargo with lower energy consumption.

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Maersk to move operations from major port | Ship Jobs

A major container shipping company has announced it will no longer use the Port of Felixstowe for its larger vessels from next year.

Maersk said the changes would take effect in February following a review of its Asia-Europe shipping routes.

The firm said it had concluded the London Gateway on the Thames estuary in Essex was “the most optimal port to serve our customers” in the UK.

It said it expected to share further details “over the next couple of weeks”.

In a statement on its website, Maersk said the changes were part of the Gemini Co-operation, which is a review of its network carried out with the Hapag-Lloyd shipping company.

“During this optimisation process… we have concluded that London Gateway is the most optimal port to serve our customers importing/exporting cargo to/from the UK,” it said.

“Due to this change, Felixstowe will not be a part of Maersk and Hapag-Lloyd’s shared Gemini network.

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U.S. Navy selects BAE Systems to provide advanced digital interrogator target data processor solution

BAE Systems (LON:BA) has received a $19 million contract from the U.S. Navy to design and implement UPX-24 target data processor capabilities into a single digital interrogator Identification Friend or Foe (IFF) solution. The upgraded IFF digital interrogator (DI) will optimize data collection and processing to provide time-critical insights and enhance decision making for the maritime fleet.

“This is a collaborative effort with our customer to bring the Navy’s UPX-24 target data processor functions into our digital interrogator systems,” said Donna Linked-Klein, director of Tactical Systems at BAE Systems. “Going from two separate hardware sets on a shipboard platform to a single consolidated solution allows for reduced obsolescence and the ability to rapidly integrate new technology. The latest design will optimize performance while providing the situational awareness our warfighters need in a variety of threat environments.”

BAE Systems’ digital interrogator systems enable operators to identify friendly forces and make informed decisions that reduce friendly fire incidents and support mission success. The DI collects the data by emitting an “interrogating” radio signal at one frequency, prompting an IFF transponder to emit a reply signal at a different frequency, indicating that an approaching platform is “friendly.” The U.S. Navy’s UPX-24 system provides target data to the ship’s command, control, communications, computer and intelligence system, and processes all the inputs to decide how to respond.

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US imports of Chinese used cooking oil set for new record, future uncertain | Maritime Crew

U.S. imports of used cooking oil (UCO) from China are set to hit a record in the months ahead, even as regulatory uncertainty casts doubts over longer-term prospects of a trade that boomed last year, according to market participants.

U.S. demand for UCO, a feedstock for biofuels like renewable diesel, has surged as federal and state governments launched incentives to support the industry as they aim to decarbonize transportation. That sparked such a frenzied rush to build new renewable diesel plants that U.S. capacity more than doubled from 2021 to 282,000 barrels per day in 2023. according to government data.

The rapid surge flipped the U.S. from a net exporter of UCO until 2021, to a net importer since 2022. U.S. imports surpassed 1.36 million metric tons (mt) last year. up from about 400,000 mt in 2022, the data showed.

“Demand for UCO from U.S. renewable diesel producers has grown much faster than domestic supply,” said Duane Dunlap, owner of renewables consultancy DNS Enterprises.

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Global freight shows signs of bottoming out | Ocean Job

Global freight volumes fell at some of the fastest rates for three decades earlier this year, but at the end of the first quarter showed signs of bottoming out.

Volumes were down by -2.1% between December and February compared with the same period a year earlier, according to the Netherlands Bureau of Economic Policy Analysis (“World trade monitor”, CPB, April 25).

The rate of decline was in the 8th percentile for all overlapping three-month periods since 1992; volumes have only fallen this fast during the last three recessions in 2020, 2008/09 and 2001/02.

Reflecting the global slowdown, the U.S. rail network hauled 1.06 million containers in February, the lowest for the time of year since 2015 and before that 2012, data from the Association of American Railroads showed.

Global freight has been hit by excess inventories held all along the supply chain as consumer and business spending has reverted from merchandise to services after the pandemic.

Persistent inflation, rising interest rates and increased fears about an impending recession have also encouraged households and firms to be more cautious about spending.

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Bahri Line launches new liner service between Asia and Europe | Shipboard Jobs

Bahri Line, a business unit under Bahri Logistics, has officially established a new pendulum service line between the Asian and European continents.

Traveling through Jeddah Islamic Port, the new cargo shipping line comes as an extension of Bahri’s expansion plan to widen its liner network, strengthen supply chains, and diversify shipping options to, from and through Jeddah Islamic Port.

The new service line runs eastward from Bremerhaven to Antwerp and Montoir in Europe through to Jeddah, then to Ennore in India, and onwards to the Port of Taicang port in China. The service line’s westbound route runs from Taicang and Shanghai in China through to Ennore and Jeddah, onwards to Montoir-de-Bretagne, located in the west of France, further extending to both Bremerhaven and Antwerp, the company said in a statement.

Bahri Line’s establishment of Jeddah Islamic Port’s newest shipping line is a proactive measure to increase and enhance local logistical capabilities, directly linking Asia and Europe via Jeddah. The new shipping line’s maiden journey embarked this year with the first vessel expected to reach Jeddah Islamic port in early February 2023.

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Temasek remains invested in Adani Ports, says report | SEA LINE GROUP

Singapore investor, Temasek Holdings (Private) Limited, remains invested in Adani Ports and Special Economic Zone even though the Indian conglomerate is facing criticism from a US-based forensics research institution, according to a media report.

Temasek “remains invested in Adani Ports, as per their latest public shareholding disclosures”, The Straits Times reported on Monday, citing a spokesman for the 49-year-old state-owned investor which has USD 496.59 billion in assets under management as of December 2022.

Temasek, through its subsidiary Camas Investments, owns just over 1.2 per cent in Adani Port, the Singapore broadsheet reported, citing the company’s shareholder information.

The stake was acquired in 2018 for around SGD 147 million. 

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Containers stuck at ports despite SBP order: KATI | Marine Vacancies

President of the Korangi Association of Trade and Industry (KATI) Faraz-ur-Rehman has expressed concerns that containers are still stuck at ports despite the permission of State Bank of Pakistan to release them.

He said that the State Bank had issued a circular for releasing the containers of Chapter 84, 85 and 87 goods from January 2, but despite the permission the containers have not been released to date, which is increasing the difficulties of the stakeholders.

President KATI said that an immediate solution to the problem should be found because if a businessman is fined 15,000 dollars for a container worth 10,000 dollars, the business will be destroyed, due to which the inflation rate in the country will rise sharply and necessary commodities will be out of reach of a poor and common man.

Faraz-ur-Rehman said that the traders, especially the Furniture Association, sought permission from the buyers to release the containers based on the delayed payment (DA) documents, but the government is not allowing them on the same, which made the situation even worse. He said that traders cannot afford to pay fines that are double the value of the containers. If the government does not take immediate action, the business community will be on the brink of collapse. Keeping the goods at the ports will spoil them and Pakistan will be discredited all over the world for not being able to pay for the goods ordered. 

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Container shipping stocks decline on lower freight rates | SEA LINE GROUP

South Korean container shipping stocks, which surged after the Covid-19 pandemic, are falling amid concerns about an economic downturn and lower freight rates that have plunged nearly 80 percent from their peak.

Shares of HMM Co., the country’s biggest container shipping company, closed at 19,950 won ($16) on Monday, down 61 percent from their peak of 51,100 won in May 2021. HMM shares have gained up to 16 times since the pandemic but they now remain sluggish.

Shares of exchange-traded funds (ETFs) that track transportation indices on Korea Exchange (KRX) remain low. The KODEX Transportation ETF fell 38 percent from its peak in July 2021. HMM accounts for 18.4 percent of the KRX Transportation Index, the largest after Korean Air Lines Co. at 23.6 percent.

Foreign investors have net sold 133.5 billion won worth of HMM shares from January last year and institutional investors 49.7 billion won. Pension funds in particular offloaded 36.4 billion won in HMM shares.

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