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Western Sanctions Take Big Bite Out of Sovcomflot’s Results

Western Sanctions Take Big Bite Out of Sovcomflot’s Results

Russia’s tanker operator PAO Sovcomflot is citing the impact of the Western sanctions on the company’s results. It reported a significant drop in revenues and a loss for the first quarter of 2025 along with recording a non-cash impairment related to the fleet. The...

Major Cargo Fire Breaks Out on Bulker in Amsterdam

Major Cargo Fire Breaks Out on Bulker in Amsterdam

On Thursday, a large fire broke out in the hold of a bulker in Amsterdam's western port district, sending noxious smoke over a large area of the city and prompting an air-quality alert. Firefighting efforts continued into Friday morning.  At about 1700 hours...

RWE is Latest to Stop U.S. Offshore Wind Activities

RWE is Latest to Stop U.S. Offshore Wind Activities

German renewable energy giant RWE is set to announce that it has stopped its offshore activities in the United States and setting higher requirements for future investments because of the “political developments.” The company follows TotalEnergies, Shell, and BP which...

White House Seeks Deep Cuts at NOAA

White House Seeks Deep Cuts at NOAA

Internal budget documents leaked to the media Friday suggest that the Trump White House wants to cut funding for NOAA's National Ocean Service in half, move the National Marine Fisheries Service to the Department of the Interior, end the Sea Grant program for...

Iran Probes for New Maritime Routes Into Lebanon

Iran Probes for New Maritime Routes Into Lebanon

Reports from Israel suggest that the Islamic Revolutionary Guard Corps (IRGC) Quds Force is making progress in its search for new routes into Lebanon, following the destruction of the traditional smuggling routes into Lebanon by Israel in recent months. A primary...

Ports and Businesses Brace for Impact From Heavy Tariffs

Ports and Businesses Brace for Impact From Heavy Tariffs

Markets reacted negatively on Monday after President Donald Trump's announcement of sweeping tariffs on major trading partners, including an additional 34 percent tariff on China. The Dow fell four percent, the S&P 500 dropped five percent, the Nasdaq was...

Local News

Govt to turn KLIA into regional air cargo hub

Govt to turn KLIA into regional air cargo hub

PUTRAJAYA:  The government will prepare a policy paper to turn KLIA into a regional air cargo hub after identifying several weaknesses that have caused Malaysia’s air freight sector to lag behind Singapore’s Changi Airport. Transport minister Loke Siew Fook said...

SECURING MALAYSIA’S MARITIME BORDERS

SECURING MALAYSIA’S MARITIME BORDERS

KUALA LUMPUR: In his speech, “Building Resilience Through Integration: The Future of Malaysia’s Maritime Strategy”, Defence Minister Datuk Seri Mohamed Khaled Nordin highlighted that Malaysia’s maritime territories are important for its survival as a nation and a...

Linyi showcases logistics, trade center

Linyi showcases logistics, trade center

The 3rd Linyi Trade City International Sourcing Conference for Belt and Road Cooperation opened on Friday in Linyi, Shandong province, attracting over 2,000 buyers from nearly 100 countries and regions. The event, running Oct 10-12, underscores Linyi's growing role as...

Malaysia advances blue economy plan

Malaysia advances blue economy plan

Kuala Lumpur (VNA) - Malaysia is formulating the Malaysia Blue Economy Blueprint to harmonise policies, strategies and investments across sectors linked to oceans and coasts. Deputy Minister of Economy Datuk Hanifah Hajar Taib said the 13th Malaysia Plan...

Malaysia to drive Asean-India trade agenda as flows deepen

Malaysia to drive Asean-India trade agenda as flows deepen

KUALA LUMPUR: Malaysia is set to play a central role in advancing Asean-India economic ties as the Asean Chair in 2025, with leaders calling for bold new trade and investment targets to unlock opportunities in digitalisation, renewable energy, logistics and small and...