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Complexities of compliance with the EU Emissions Trading Scheme
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...
AD Ports takes over Karachi Port East Wharf operations.
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 to develop Iloilo port complex in central Philippines.
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...
Piraeus port inaugurates expanding car terminal.
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...
QatarEnergy announces next phase of record fleet growth programme
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...
ILWU and Portland Terminal Settle Long Dispute Which Bankrupted the Union
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...
US Indicts Iranian Oil Network, Individuals, Tankers, and Seeks Oil Cargo
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...
ICS Proposes $40 Carbon Levy With No Automatic Increases
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 Ports Benefit From Geopolitics and Trade Wars
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” –...
European Ethanol Producers File Challenge to FuelEU Maritime Regulation
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 Law and Practice of Container Shipping
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...
Red Sea Tanker Fire Extinguished
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...
EU Launches Effort with Shipping Lines and Ports to Fight Drug Smuggling
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...
Shipping fallout from Red Sea crisis spreads to product tankers
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 and RINA to Cooperate on Ammonia Fuelled Bunker Vessel
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...
Supply chain executives pin hopes on technology as diverse challenges escalate
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...
Chinese automobile exports surge 58% in 2023
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...
Red Sea crisis drives inflationary trading costs.
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...
More interaction needed between government and private sector
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,...
Port of Corpus Christi handles record cargo tonnage in 2023
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...
Ethiopia’s Port Deal with Somaliland Could Endanger Regional Stability
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 Stoppages Grow at DP Australia Terminals as MUA Pay Dispute Escalates
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...
Cruise Ship Silver Moon Reverses Course to Avoid Southern Red Sea
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...
Video: Chinese Company Launches Massive Solid-Fuel Rocket from Sea
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...
Suez Canal Denies Suspension of Transits Rumor After Red Sea Attacks
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...
IAEA Uses Nuclear Tools to Study Antarctic Plastic Pollution
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’s Turn Towards Deep-Sea Mining Dismays Experts
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 Plans Increased Fight Against Drug Trafficking Through EU Ports
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...
Decorated Battleship New Jersey Set for $10M Repairs During Dry Docking
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...
High Speed Internet at Sea
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,...
Top ocean shipping stories of 2023: War, drought and detours
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...
Singapore Surpasses Three Billion Gross Tons for Annual Ship Arrivals
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...
Lithium-Ion Battery Fire Contained Aboard Bulker off Dutch Harbor
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...
Russia Claims New Record for Cargo on the Northern Sea Route
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...
More Than 280 Boxships Have Diverted Away From Red Sea
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 bars Israeli owned vessels and ships headed to the country’s ports
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...
Conflict and climate conspire to reroute container ships
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...
Panama Canal transits plunge as larger ships are turned away
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,...
Saudi Arabia secured a remarkable score in the UNCTAD’s Liner Shipping Connectivity Index
In a significant development that aligns with the objectives of the National Transport and Logistics Strategy (NTLS), Saudi Arabia has solidified its competitiveness and global standing. The Saudi Ports Authority (Mawani) attained its highest improvement...
Singapore gets its first methanol bunkering vessel
Singapore has welcomed the delivery of its first methanol bunkering vessel, marking its commitment to serve as a living lab for bunkering alternative fuels. Michele Labrut | Dec 15, 2023 Singapore, a global maritime bunkering hub, has welcomed the delivery of its...
Salvage industry needs to prepare for new fuels
As the drive to develop new zero emission fuels intensifies the salvage industry must recalibrate its training programmes to handle the patchwork of fuels that will replace oil in the transition and beyond. Nick Savvides | Dec 11, 2023 A panel of industry experts...
12 container ships divert from Red Sea over terror threat.
Initially attacks on shipping in the Red Sea and the Straits of Hormuz, which have included hijackings and missile strikes, targeted Israeli-linked ships recent incidents such as the drone strike on the OOCL chartered containership Number 9 had no current Israeli...
Stronger Than Expected Volumes Prompt Increase in Forecast for U.S. Imports
Container import volumes at the main U.S. ports containers ports continued to grow into the fall leading to a later than expected peak this year and prompting forecasts for continuing year-over-year growth in 2024. With the U.S. economy appearing to be on a...
Container shipping outlook 2024: Rising risk of delays, disruptions
The supply chain crisis is long over, but America’s importers still have a lot to keep them up at night as they plan for 2024. Two key container shipping “chokepoints” — the Panama Canal and the Bab-el-Mandeb Strait in the Red Sea — are simultaneously...
Report Zero-Emission Fuels Could Add 50% to Container Shipping Costs
The early moves both among the container carriers and the shippers face substantially higher costs for transporting containers using the new generation of zero-emission vessels and fuels. A new report from independent UK consultancy UMAs seeks both to quantify some of...
Fortescue Unveils Ammonia-Fueled Ship Calling for Regulations to Catch-Up
Fortescue, an Australian mining company that is working to become a green technology company, reports it completed the retrofit to create the world’s first ocean-going ammonia-fueled ship. The company’s flamboyant founder and chairman Andrew Forrest arrived in Dubai...
The Virtual Watch Tower: A Public Good
Building the new economy revolves around data, internet-of-things (IoT), artificial intelligence (AI), cloud and federated computing. The shipper-driven, terminal-centric Virtual Watch Tower / VWT (www.virtualwatchtower.org) is a federated computing initiative,...
2024 Could be “Even More Brutal” for Container Carriers Warns Xeneta
The handwriting has been on the wall for some time with analysts warning that the container shipping segment was facing a prolonged period of hard times brought on by falling volumes, oversupply, and declining rates. Widely followed indicators such as the Drewry World...
Western Australian Government Unveils Plan for Relocation of Fremantle Port
Following years of intensive studies and consultations, the Western Australian (WA) government has unveiled its preferred design and location for the relocation of the container operations currently in Fremantle. The port, which handles nearly all the container...
Another Panama Canal red flag: Spiking product tanker rates
Product tanker rates from U.S. to Chile and Peru have doubled since Nov. 1 Yet another signal on the Panama Canal situation is flashing red: Spot rates are surging for product carriers — specialized tankers carrying diesel, gasoline and jet fuel — that transit the...
Local News
New service tax increase is rational, says analyst
PETALING JAYA: On March 1, Malaysia’s service tax rose from 6% to 8%, sparking concerns about price increases during the 2024/2025 school term and Ramadan.The Madani government, led by Prime Minister Anwar Ibrahim, assured that essential items like food, beverages,...
Johor-Singapore Special Economic Zone deal set for year-end signing
KUALA LUMPUR, MALAYSIA: The Ministry of Economy of Malaysia announced that the joint agreement for the Johor-Singapore Special Economic Zone (JS–SEZ) is anticipated to be finalized by year-end. According to a report from Malaysia’s state media Bernama, the agreement...
Loke: Contractors need not curry favour with ministers under this govt, just required to get job done
KUALA LUMPUR, March 16 — Transport Minister Anthony Loke has vowed that contractors do not need to cultivate a relationship with Cabinet members to be awarded contracts. The DAP secretary-general said it is enough for those awarded contracts to carry out their...
Ports kick off 2024 on a good note
KUALA LUMPUR: The ports segment started the year on a positive note as the export volume index rose five per cent to 156.5 points in January 2024 from 148.5 points in January 2023, said AmInvestment Bank Bhd. In a note, the research house has maintained its overweight...
Expert says efforts to enhance Malaysia-China ties the right move
Business Expert says efforts to enhance Malaysia-China ties the right move Hayatun Razak 18-03- 2024 07:15 AM From left: Loh, Lim and Hairil Yahri. PETALING JAYA: Prime Minister Datuk Seri Anwar Ibrahim’s administration has set its sights rightly on furthering...
MoF sees need to enhance insurance protection among SMEs as risks rise
KUALA LUMPUR: The Ministry of Finance (MoF) sees a pressing need for insurance protection among small and medium-sized enterprises due to the escalating climate change and other risks, said Secretary General of Treasury Datuk Johan Mahmood Merican. He said that there...
Finance Ministry: Govt expected to generate RM3.45b additional revenue from service tax
KUALA LUMPUR, March 6 — The government is expected to collect additional revenue amounting to RM3.45 billion from the expansion of the scope of service tax and the increase in the service tax from six per cent to eight per cent, according to the Finance Ministry. The...
Valuations yet to price in execution and opex risks
PETALING JAYA: Despite having an “overweight” call on the oil and gas (O&G) sector, UOB Kay Hian (UOBKH) Research suggests cautious trading as the sector valuations may not have fully taken into account the execution and operational expenditure (opex) risks. In a...
ECRL anticipated to contribute 3.8pc increase to Malaysia’s GDP by 2047, says Tengku Zafrul
KUALA LUMPUR, March 8 — The East Coast Rail Link (ECRL) is anticipated to contribute a 3.8 per cent increase to Malaysia’s gross domestic product (GDP) by 2047 by enhancing trade, boosting tourism, and stimulating regional development. Investment, Trade and Industry...
Cabotage policy reinstatement ends years-long debate
KUALA LUMPUR: The government’s decision to reinstate the cabotage policy exemption brings an end to the years-long debate over allowing foreign ships to undertake undersea cable repairs locally.Malaysia OSV Owners’ Association (MOSVA) and Malaysia Shipowners’...
Finance Ministry: Service Tax increase only affects discretionary services, B2B activities
KUALA LUMPUR (Feb 28): The increase in the Service Tax rate from 6.0 per cent to 8.0 per cent, effective from March 1, 2024, only affects discretionary services activities and business-to-business (B2B) activities, according to the Ministry of Finance (MOF). Minister...
Govt on the lookout for SST profiteers
PETALING JAYA: The domestic trade and cost of living ministry has launched an operation to ensure that traders don’t take advantage of the Sales and Service Tax (SST) hike to unreasonably increase prices.Its minister Armizan Ali said the operations, codenamed Ops...
Transport minister: National Load Centre policy to centralize cargo services at Port Klang no longer applies.
PUTRAJAYA, March 1 — The National Load Centre policy introduced in 1990 to centralise all cargo services at Port Klang, Selangor no longer applies, said Transport Minister Anthony Loke. According to him, the Transport Ministry’s policy of promoting Port Klang as the...
Malaysia may permanently waive rules for foreign ships working on undersea cables
Malaysia has decided to reverse an earlier decision and allow foreign vessels to repair undersea cables in its waters, its transport minister said on Friday, adding the move may be made permanent to encourage tech investments and support the digital economy. The...
Port Klang, PTP among the top 20 busiest ports in the world, says Loke
PUTRAJAYA: Port Klang in Selangor and Johor's Port of Tanjung Pelepas (PTP) remain among the top 20 main and busiest ports globally, says Transport Minister Anthony Loke. Loke said Port Klang recorded the highest number of containers processed last year, with 14.06...
Transport minister: Port Klang posts record total container handling volume of 14.06 million TEUs in 2023
PUTRAJAYA, Feb 23 ― Port Klang recorded the highest container handling volume in its history at 14.06 million 20-foot equivalent units (TEUs) in 2023 compared to 13.22 million TEUs in 2022, said Transport Minister Anthony Loke. Port of Tanjung Pelepas (PTP) in Johor...
Meeting next week to iron out economic zone issues before talks with Singapore
JOHOR BARU: Malaysia and Singapore will be meeting next month for further discussions on the Johor-Singapore Special Economic Zone (JS-SEZ), says state executive councillor Lee Ting Han (pic). The Johor investment, trade, consumer affairs and human resources committee...
Malaysia Paper Packaging Market to Soar Beyond US$ 3.3 Billion by 2032, Fueled by Sustainable Practices and E-Commerce
CHICAGO, UNITED STATES, February 21, 2024 /EINPresswire.com/ -- The 𝐩𝐚𝐩𝐞𝐫 𝐩𝐚𝐜𝐤𝐚𝐠𝐢𝐧𝐠 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐢𝐧 𝐌𝐚𝐥𝐚𝐲𝐬𝐢𝐚 is poised for remarkable growth, with projections indicating that the market 𝐯𝐚𝐥𝐮𝐚𝐭𝐢𝐨𝐧 𝐰𝐢𝐥𝐥 𝐞𝐜𝐥𝐢𝐩𝐬𝐞 𝐔𝐒$ 𝟑.𝟑 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟐, flourishing at a 𝐜𝐨𝐦𝐩𝐨𝐮𝐧𝐝...
Cross-border drone delivery between Malaysia and Singapore in the works
A new initiative is set to introduce cross-border drone delivery services between Malaysia and Singapore. The focus will be on critical deliveries such as urgent documents, high-value electronics, medical supplies, and perishable foods. The project is being...
Preserving our ocean’s jewels
“The need to restore coral reefs is evident, not only for marine life but also for the livelihood and food security of coastal communities.” SABAH is facing an increasing menace of fish bombing, with multiple incidents reported each year. Also known as blast fishing,...