The IEA’s medium-term outlook sees global oil supply increase set to far outpace demand growth in coming years.With intensifying geopolitical strains and heightened uncertainty about global economic prospects, oil markets are undergoing structural…
Guinea's exports of bauxite, a feedstock for aluminium, surged 39% to a record 48.6 million metric tons in the first quarter though regulatory crackdowns sidelined major operators, official data obtained by Reuters showed.Most of this bauxite was shipped to China…
ASRY has held its first innovation forum in collaboration with Lumofy, an AI-powered talent management platform. The event, titled ‘Unlocking Creative Potential’, was organised to promote a culture of innovation in the workplace, enhance employee capabilities…
Osbit, an offshore wind engineering company operating as part of Venterra Group, has opened a new assembly and service facility at the Port of Blyth in the U.K, bolstering its offshore wind service offering. The development has created 33 skilled…
The World Shipping Council (WSC) has released its annual Containers Lost at Sea report, showing that 576 containers were lost at sea in 2024.While this represents an increase from the record-low 221 containers lost in 2023, it remains well below the 10-year average of 1…
The Global Centre for Maritime Decarbonisation successfully completed the world’s first maritime pilot demonstrating the full value chain of onboard captured carbon dioxide (CO2) in China.The pilot encompassed two phases. In the first phase…
Rates for shipping cargo containers from China to the U.S. have dropped by more than half since earlier this month, as imports rebounded less than expected after the slump that followed President Donald Trump slapping 145% tariffs on China.Trump quickly reversed course by lowering the rate to 30%…
On June 19, the world’s first ship-to-ship liquified carbon dioxide (LCO₂) transfer was successfully completed at the Yangshan Deep-Water Port in Hangzhou Bay, Shanghai.The project was led by Shanghai Qiyao Environmental Technology (SMDERI-QET)…
Shipping costs for the Gulf have fallen in the past two days after a ceasefire was reached between Israel and Iran, although rates could rebound if tensions increase, shipping and insurance industry sources said on Thursday.The conflict had raised concerns that Iran could close Hormuz…
The U.S. trade deficit in goods increased in May amid a decline in exports, but an ebbing inflow of imports likely positions trade to make a big contribution to gross domestic product in the second quarter.The goods trade gap widened 11.1% to $96…
Danish shipping company Maersk said on Thursday it had reopened cargo acceptance to Israel's Haifa port for imports as of June 25 and that it expected to reopen exports from the location once a lower safety risk had been confirmed.Iranians and…
The Panama Canal Authority celebrates the ninth anniversary of the canal’s expansion on June 26, reporting a rise in both transits and tonnage moved during the first eight months of fiscal year 2025 in comparison to the same period last year…
In the presence of H.E. Eng. Saleh bin Nasser Al-Jasser, Minister of Transport and Logistic Services and Chairman of the Saudi Ports Authority, Mawani, in collaboration with the National Center for Privatization, signed contracts to privatize…
The U.S. sent letters to Enterprise Products and Energy Transfer on Wednesday informing the companies they could load ethane on vessels destined for China but could not unload the ethane in China without authorization, according to a person familiar with the matter and copy of one letter…
Global shipping groups are looking to Brazil's courts to overturn competition rules that bar them from participating in the first round of bidding on a major new container terminal at Latin America's largest port, due to take place later this year…