Pakistan, Saudi Arabia and local partners have signed a memorandum of understanding (MoU) to explore the development of a maritime business district on prime Karachi Port Trust’s (KPT) water-front land, the maritime affairs ministry said on Saturday.
In a statement, Maritime Affairs Minister Junaid Anwar Chaudhry said the MoU was signed between KPT, Saudi Business Council-Najd Gateway Holding Company, Arif Habib Dolmen REIT Management Limited (AHDRML), and the Pakistan Corporate Consortium.
The proposed project would be built on a 140-acre KPT site on Karachi’s MT Khan Road and is intended to transform the area into a major commercial and maritime hub, the minister said.
The development is envisaged to include modern commercial infrastructure aimed at attracting investment, generating employment, and supporting urban development, he added.
“This strategic collaboration is a transformative opportunity to unlock the full potential of KPT’s waterfront assets and position Pakistan as a regional hub for maritime commerce and investment,” Chaudhry was quoted as saying.
The minister affirmed that all regulatory and legal requirements under the Pakistani law would be met before the project proceeds.
Members of the Saudi delegation showed keen interest in broader cooperation in the maritime sector, including potential involvement in port infrastructure and related projects, he added.
The minister noted that the visit was part of wider efforts by Islamabad and Riyadh to deepen strength economic ties and explore investment opportunities in ports, logistics, infrastructure and trade facilitation.
“Subject to regulatory approvals, the development could become one of the largest waterfront commercial projects in the region,” the minister added.
In November last year, the ministry had invited proposals from the business community for the development of 140 acres of KPT land, proposing a joint venture model where the port acts as a strategic partner to establish an industrial park.
Chaudhry had also said the government planned to expand the Pakistan National Shipping Corporation’s (PNSC) fleet by 50 percent.
He said the PNSC’s target of 30 vessels, initially planned for three years, should now be achieved within a year.
Baozhou Shipping Expands Fleet
Baozhou Shipping orders up to four 2,700 TEU vessels from Chinese yards, reflecting strong demand for regional box ships, reports Splash 247.
Hong Kong’s Baozhou Shipping has ordered up to four 2,700 TEU feeder vessels at Chinese shipyards as demand for regional box ships continues to drive newbuilding activity, reports Singapore’s Splash 247.\
Industry sources said the company has contracted two firm vessels plus two options through Zhejiang Tenglong Shipbuilding.
The ships will be subcontracted to Zhejiang Yangfan Shipbuilding, with the firm units scheduled for delivery in 2028.
Baozhou Shipping has remained relatively low-profile compared with larger intra-Asian carriers, but the 2,700 TEU segment has become one of the busiest areas of the containership newbuilding market over the past
year.
Chinese yards including TEU Huangpu Wenchong, Yangzhou Guoyu, and Taizhou Sanfu have secured a significant share of these orders, with delivery slots stretching into 2028 and beyond.
Financial details of the Baozhou deal were not disclosed, but recent contracts for similarly sized vessels suggest pricing likely to be about US$45 million per ship, depending on specific the next Commission meeting is scheduled for 21 July 2026.
COSCO Awarded Strategic Terminal Concession at Spain's Port of Tarragona
COSCO SHIPPING Ports-led consortium has won the Tarragona multipurpose terminal award from the Port Authority of Tarragona.
The award follows a public tender process and was confirmed at a ceremony hosted by the Port of Tarragona.
The formal concession remains subject to the incorporation of the project company and the signing of a concession agreement, along- side other regulatory and procedural approvals.
If completed, the project is expected to be treated as a discloseable transaction under Hong Kong Stock Exchange listing rules, with a corresponding announcement issued by the company.
The Port of Tarragona, located in Catalonia in northeastern Spain, is a key Mediterranean hub handling energy products, chemicals, agri-food cargo, vehicles, general cargo and containers.
The proposed terminal will be located at the Andalucía Wharf area and developed as a multipurpose facility capable of handling containers, general cargo, vehicles and other unitised cargo.
The project will also integrate the adjacent La Boella rail-port terminal strengthening intermodal connectivity between port and inland logistics networks.
The proposed concession period is 50 years, covering an area of approximately $10,586 square metres.
COSCO SHIPPING Port said the award reflects its long-term confidence in Tarragon role as a strategic logistics hub in the western Mediterranean, supported by its industrial base and multimodal infrastructure links.
The total investment is estimated at approximately 144.6 million ($167 million), including tax and interest, with the company contributing in line with its equistake.
The terminal is planned a modern, multipurpose facility developed in phases, with future operations expected to include containers, general cargo, vehicles, RoRo and rail-linked cargo flows.
The consortium will combine COSCO SHIPPING Ports global port and logistics network COSCO SHIPPING Bulk’s bull cargo expertise, and PTP Ibérica local market knowledge to advance development and operational planning.
The project is expected to priorities safety, environmental compliance, operational efficiency and sustainability, while supporting regional supply chains and industrial activity.
Port of Osaka posts first volume dip in five months
The Port of Osaka has handled 180,600 TEUS of international containerised cargo in April, marking a 0.5 percent year-on-year decline.
According to preliminary figures from the Osaka Ports and Harbours Bureau, it is the port’s first contraction in five months.
The monthly breakdown revealed a mixed picture.
Exports fell 2.9 percent to 83,371 TEUS, while imports rose 1.7 percent to 97,229 TEUS.
On loaded containers specifically, exports climbed 8.8 percent to 37,166 TEUS, partially offsetting a 3.1 percent drop in loaded imports, which came in at 89,612 TEUS, bringing total loaded container volume to 126,778 TEUs, up a marginal 0.1 percent.
Empty containers declined 2 percent to 53,822 TEUS.
Despite the April dip, the year- to-date picture remains broadly positive.
In the first four months of 2026, Osaka processed 696,378 TEUS in combined exports and imports, up 3.7 percent on the same period last year.
Exports grew 3.9 percent 316,778 TEUS, while imports expanded 3.6 percent to 379,66 TEUS.
Loaded container performed over the January-April period was more nuanced.
Loaded export rose sharply by 9.7 percent 136,263 TEUs, while loaded imports edged down 0.6 percent to 355,361 TEUs, yielding a total of 491,624 TEUs, up 2.1 percent Empty containers for the period totalled 204,754 TEUs, up 7.8 percent.
IMO urged to go slow on CO2 drive
Greece has called on the International Maritime Organization (IMO) to adopt realistic measures in its decarbonisation push, stressing that safety must remain the top priority.
The appeal was made by maritime affairs minister Vasilis Kikilias during the Capital Link Maritime Leaders’ Summit at Posidonia 2026 in Athens, reports Denmark’s Shipping Telegraph.
Mr Kikilias told delegates, including IMO secretary-general Arsenio Dominguez, that the shipping industry should not be forced into decisions it cannot implement.
He said Greece supports technological advances and digitalisation but warned that alternative fuels currently account for only 0.5 percent of global demand.
He described LNG as the fuel of the present, while the fuel of the future remains uncertain.
The minister also highlighted geopolitical crises affecting global trade, citing the pandemic, the war in Europe, the energy crisis and conflict in the Middle East.
He said 80-90 percent of world trade moves by sea, making maritime safety and resilience a strategic necessity for the global economy.
Port Houston reports 5 percent increase in vessel activity
The Port Houston Authority Commission has reported increased vessel activity across the Houston Ship Channel alongside progress on infrastructure works and Project 11 developments.
Ric Campo, Chairman of the Port Commission, highlighted maritime workforce development, noting 100 graduates from five local high schools.
The meeting also marked National Maritime Day on 22 May, recognising the role of seafarers in global shipping.
Charlie Jenkins, Chief Executive Officer of Port Houston, said discussions with policymakers focused on funding priorities for the Houston Ship Channel. regional road infrastructure, the Coastal Texas Project, and vessel traffic management systems.
“In addition to permitting matters, the main topics in these meetings included the need for continued investment in the Houston Ship Channel and other waterways as well as roads, the Coastal Texas Project, the importance of Texas energy exports to the world and the American economy, and the need for investment in modernising vessel traffic service to ensure safe navigation,” said Jenkins.
Port data showed vessel activity on the Houston Ship Channel increased 5 percent year-on-year, returning to 2019 levels.
First-quarter tonnage rose 27 percent compared with 2019, driven by larger vessels and efficiency gains linked to Project 11.
At Barbours Cut Terminal, four ship-to-shore (STS) cranes entered service, bringing the terminal fleet to 17.
The Commission approved an agreement with the Texas Department of Transportation (TxDOT) to support road upgrades at Red Bluff Road, aimed at improving access and safety.
Two Project 11 contracts are nearing completion, including works at Three Bird Island and Marsh Cell MII.
Port Houston will announce its 2026 Community Grant recipients in July.
It also hosted a technical tour of the Houston Ship Channel during the 39th American Society of Civil Engineers International Conference on Coastal Engineering in Galveston.
The next Commission meeting is scheduled for 21 July 2026.
Tankers lead wind propulsion uptake
Tankers have overtaken other ship types in adopting wind-assisted propulsion, with 37 vessels fitted with the technology, reported Saint Petersburg’s Port News.
Bulk carriers follow with 24 ships, equal to the combined ro-ro and ro-pax segment.
General cargo ships account for 19 vessels.
The global fleet of large commercial ships using wind propulsion has now passed 100 vessels, representing more than 5 million dwt of cargo capacity.
Those ships are fitted with more than 230 wind propulsion units and are estimated to cut CO2 emissions by over 100,000 tonnes annually.
IWSA secretary general Gavin All wright said the increase was driven by sustained testing, verification and commercial validation.
The association expects the wind-powered fleet to double over the next 12 months, reaching about 200 large commercial vessels by mid-2027.
Its Q1 2026 vessel list includes installations on tankers, bulk carriers, ro-ro vessels, ferries and general cargo ships, covering both new buildings and retrofits using rotor sails, suction sails and wing sails.
The International Windship Association is a London-based not-for-profit membership body focused on wind propulsion for commercial shipping.
Its members include shipowners, technology developers, ports, regulators and other maritime stakeholders.
OOCL launches Southeast Asia- Indian Subcontinent service
Orient Overseas Container Line Ltd. (OOCL) has launched a new Southeast Asia-Indian Subcontinent Service 2 (SIS2), expanding its regional network between Southeast Asia, China and India.
The service will commence on 4 June 2026 and provide a direct connection between Haiphong and India’s west coast, while also strengthening connectivity across key Asian trade hubs including China, Vietnam and Singapore.
SIS2 will operate on the following port rotation: Qinzhou -Yangpu – Haiphong – Singapore- Mundra – Singapore – Hong Kong-Qinzhou.
The launch reflects continued carrier investment in intra-Asia and India-linked trade routes as regional manufacturing container volumes continue to grow.
The direct call at Mundra is expected to support cargo flows between Southeast Asia and India, while providing additional routing options for shippers moving goods through major transhipment hubs in Singapore and Hong Kong.
In May, OOCL named its first methanol dual-fuel container vessel, OOCL Wisdom.