Global News

Ukraine has won an agreement with the major insurance brokerage networks in the UK to expand the current war risk insurance program to cover ships carrying all non-military cargo. Previously the program was limited to grain and foodstuffs but will now permit Ukraine...

The cruise industry is starting to rethink its plans into 2025 as increasingly they believe the problems in the Red Sea will persist. It is a view shared by the commercial shipping industry, but with travelers making vacation plans cruise lines need to think longer...

The 1,250 teu pair are due for delivery in 2026, one each from German shipowner Elbdeich Reederei and Norwegian shipowner MPC Container Ships (MPCC). The deal builds on charters made in October 2023 for two similar vessels from Elbdeich Reederei. X-Press feeders...

The Council of the EU announced that the defensive operation will have an initial one year duration and a mandate to protect commercial vessels against attacks at sea by providing situational awareness and accompanying ships in the region. In its announcement, the EU...

Chinese automobile manufacturer BYD is planning to put seven new car carriers into operation in the coming two years to meet the growing export demand. Wang Chuanfu, Chairman and President of BYD stated in Guangdong Provincial High-quality Development...

The German Government is funding the installation of a Rotor Sail on Baltrader’s new cement carrier CemCommander this summer. The project attracted funding from the German Federal Government’s Directive "Sustainable Modernization of Coastal Vessels" (NaMKü) programmed...

The southern Chinese port city of Shenzhen is offering subsidies to LNG operators to boost its development as an LNG trading hub city. According to the notice from Shenzhen Development and Reform Commission, Shenzhen is going to actively explore new LNG trading...

A 58,800 dwt Supramax bulker was fired on by Houthis as it transited the Gulf of Aden, some 85 nautical miles southeast of Aden, causing minor damage to the vessel, but there were no crew casualties or injuries according to the latest reports. Lycavitos operated by...

With the continued, and worsening threat to shipping while transiting the region from Houthi rebels in Yemen, the IBF Warlike Operations Area Committee (WOAC) has agreed to expand the High Risk Area to include the Gulf of Aden and surrounding waters. Stephen...

The Deputy Administrator for the Panama Canal Authority (ACP), Ilya Espino de Marotta, says the waterway does not expect changes to current vessel transit restrictions until at least April. The ACP will assess water levels after the dry season before making any...

US shippers are diverting east coast cargo, already shifted from the Panama Canal to via Suez, to west coast ports, boosting southern California port volumes and raising box leasing prices through the roof. Online box leasing and trading company Container xChange...

A partnership between Finland’s naval architects Deltamarine and UK-based BAT Technologies looks to develop new standards in sustainable shipping. The companies held a presentation in London for their new concept, a wind-optimized design for an Aframax/LRII tanker...

The EU ETS first emissions trading system requiring owners, operators and charterers to pay for their ships’ emissions. At a Lloyd’s Register webinar on 7 February, classification society experts ran through the complex regulations and the steps required by owners and...

The agreement will see a joint venture between AD Ports and Kaheel Terminals, Karachi Gateway Terminal Multipurpose Limited (KGTML), develop, operate and manage berths 11-17 at the East wharf of Karachi. The new concession grants 1.5 km of quay wall to KGTML for...

ICTSI will rename it the port complex as Visayas Container Terminal.    “We recognise the port’s pivotal role in driving Iloilo's economic and social growth. Our comprehensive proposal outlines significant investments in infrastructure...

Greek Shipping and Island Policy Minister Christos Stylianides pointed out at an inauguration ceremony 6 February for the new car facilities, the Ministry's goal is to promote sustainable urban development, the use of sustainable transportation methods and advanced...

The vessels will enter into timecharters with affiliates of QatarEnergy and Nakilat, the company said in a statement. It is the first award in the second phase of long-term time charters in the largest-ever LNG fleet expansion programmed. Qatar Energy’s LNG Fleet...

The International Longshore and Warehouse Union and International Container Terminal Services settled a more than decade’s long dispute involving the operation of Portland, Oregon’s sole container terminal which forced the ILWU to file for bankruptcy in September...

The U.S. Justice Department revealed on Friday three sweeping legal cases launched in U.S. federal courts in New York and the District of Columbia aimed at interrupting the Iranian oil trade. They revealed a widespread network launched by Iran starting in 2018 to...

The International Chamber of Shipping has formulated a revised proposal for an IMO carbon emissions fund. As with earlier proposals, it would see two-way financial flows going in and out of one fund - carbon-emitting shipowners would pay money in, while...

Vietnam’s main ports have shot up the world rankings in terms of volumes of container-based traffic as manufacturers increasingly pull out of China in the wake of the tariff-based trade war with America. As the latest data on Vietnam’s growing “connectivity” –...

An industry group representing European ethanol producers launched a legal challenge they announced yesterday seeking to at least partially annul the FuelEU Maritime Regulation saying that it improperly addresses sustainable biofuels such as renewable ethanol. In a...

The evolution of container shipping has played a crucial role in transforming international trade and shipping, making it more efficient, cost-effective, and interconnected. Today, container shipping is ubiquitous and efficient. The most recent ULCV, the MSC...

The fire aboard the Marshall Islands registered tanker Marlin Luanda is reported to be out and the vessel is proceeding to an unspecified safe harbor. Trafigura, which chartered the vessel, provided the update confirming that the crew of 23, including...

The European Commission announced the launch of a new public-private partnership, the European Ports Alliance as the latest step to increase the fight against drug trafficking through Europe’s ports. It comes as Europe has seen a dramatic increase in drug smuggling...

With no end in sight for the Red Sea crisis, detours around Africa’s Cape of Good Hope are soaking up even more vessel capacity and pushing up spot rates across multiple shipping segments. Freight fallout began with container ships. It is now significantly impacting...

Gas and Heat, the Italian company leader in the design and construction of cargo handling systems, and RINA, the Inspection, Certification and Engineering consultancy multinational, have signed an agreement for the development of a cargo and fuel gas system for...

Trade in Transition, a research project by the Economist Impact and DP World, surveyed 3,500 executives around the world for their views on topics related to global trade. Over 34% of respondents listed new technologies as a source of optimism over the next two...

China’s automobile export market reached 4.91 million units in 2023, increasing some 57.9 year-on-year. With sharp rise in exports China is expected to become the world’s largest automobile exporter. During in 2023, automobile production and sales volume of...

Carriers have told shippers and forwarders that rates will rise substantially as shipping heads around the Cape of Good Hope, soaking up excess capacity, and redressing the supply and demand imbalance. One forwarder has been told to expect European rates out of Asia...

The logistics sector in Panama, the mainstay of the maritime industry, is finally taking off and increasingly using Panama as a dispatch centre for global or Latin American markets. Panama provides logistics services such as warehousing, distribution,...

The 203 million tonnes moved through the port last year represented an 8.1% increase over 2022. The new record primarily can be attributed to a jump in crude oil exports to 126.1 million tonnes in 2023, a 12.5% increase compared to 2022. Related: New leadership...

The Horn of Africa ushered in the new year with news of a deal that would ensure that diplomatic relations in the region got off to a bumpy start in 2024. Ethiopia, it was announced on Jan. 1, had signed a memorandum of understanding with the breakaway...

Work at the terminals operated by DP World in Australia’s four largest ports ground to a halt on Friday, January 12, with the expectation that the dispute is likely to further escalate in the coming weeks. The Maritime Union of Australia, which has been without a...

The luxury cruise ship Silver Moon (40,700 gross tons) has become the latest ship to divert away from the southern Red Sea, altering the itinerary for its current cruise and canceling at least one upcoming cruise. The cruise ship operated by Silversea...

A Chinese company has launched its first heavyweight commercial rocket from the deck of a ship, reviving a concept popularized by the Sea-Launch consortium in the 1990s. Orienspace, based in Shandong, launched its first Gravity-1 rocket from the deck of a...

The Suez Canal Authority issued a statement on Friday, January 12, denying rumors that its operations had been impacted by the overnight strikes by U.S. and UK forces and the resumption of attacks by the Houthi rebels. The statement came as the military forces have...

Last week, the International Atomic Energy Agency (IAEA) launched its first scientific research expedition to investigate the extent of microplastics pollution in the Antarctica. Argentine President Javier Milei and IAEA Director General Rafael Mariano Grossi led the...

Norway, renowned for its substantial offshore oil and gas reserves, made a surprise move in 2021 to rebrand itself as an ocean champion. However, this environmental turn is being reversed as the government pursues commercial mining in the country’s extended...

Belgium intends to prioritize the fight against drug trafficking through the major ports in the European Union (EU) expanding on existing efforts to reign in the rampant smuggling and corruption at the region’s ports. Over the next six months, they plan to launch an...

One of the most decorated and largest battleships in the history of the U.S. Navy which served in all of America’s major conflicts from 1943 to 1990 is set to undergo a $10 million overhaul. The decommissioned USS New Jersey, one of four Iowa-class battleships...

Low-Earth-orbit satellites are revolutionizing maritime connectivity – to the delight of shipowners and crew alike. Far above the planet, thousands of satellites are orbiting Earth. Some are taking high-resolution photographs and beaming them back to ground stations,...

Ocean shipping routes are always in flux, but 2023 took it to a whole new level. Trade routes were blocked or impeded by geopolitics, labor and weather: sanctions on Russia, U.S.-China tensions, dockworker union unrest, drought-driven cuts at the Panama Canal, and...

The port of Singapore is highlighting its position as a top maritime center as it crossed in 2023 for the first time the three billion gross tonnage mark for ship arrivals. Officials from the port and industry gathered to mark the milestone as Singapore looks to...

The U.S. Coast Guard reports that the battery fire aboard the bulker Genius Star XI has been extinguished and that the crew are safe, days after the blaze began. The outcome was successful, but the fire illustrated the serious challenges inherent in fighting...

As of the last week of 2023, Russian officials were claiming to have reached a record level of cargo moving along the Northern Sea Route while expecting to continue to increase the total to the end of the year. The reports are saying that volumes recovered from the...

The degree of disruption from attacks on shipping in the Red Sea continues to escalate. As of Sunday, more than 280 container vessels - not counting tankers, bulkers, car carriers or other vessel classes - have diverted to the Cape of Good Hope, according to an...

Malaysia has banned Israeli owned ships and vessels bound for the country’s ports in response to the war in Gaza. Marcus Hand | Dec 21, 2023 Malaysian Prime Minister Datuk Seri Anwar Ibrahim said on Tuesday it had imposed a ban on any vessels from ZIM...

Geopolitical and meteorological events are continuing to reshape global container shipping trading patterns as vessels look for alternatives to all water routes via the Suez and Panama Canals. Nick Savvides | Dec 19, 2023 Low water levels in the Panama Canal have...

The official Panama Canal transit numbers for November are out — and they’re ugly. November could be the tip of the iceberg. Reservation slots are being slashed further this month and in January. The total number of transits declined 22% in November versus October,...