Ocean freight container carriers are treading a fine line between risk and reward during new contract negotiations as the market remains gripped by uncertainty in the Red Sea, according to new data on the Xeneta Shipping Index (XSI®).The latest…
Turkey stopped all exports and imports to and from Israel as of Thursday, the Turkish trade ministry said, citing 'worsening humanitarian tragedy' in the Palestinian territories.'Export and import transactions related to Israel have been stopped…
China’s automotive industry has revolutionised over the past decade, from producing basic western clones to making cars that equal the world’s best. As the manufacturing powerhouse of the world, China is also producing them in huge volumes.However…
U.S. exports of liquefied natural gas (LNG) fell for a fourth consecutive month to 6.19 million metric tons in April from 7.61 million in March on production outages, preliminary data from financial firm LSEG showed on Wednesday.Recurring mechanical problems have hit Freeport LNG…
Since the European Union sanctioned Russian oil exports in 2022, crude oil and dirty and clean petroleum products (CPP) have found new buyers. “India and China have taken most of the crude oil and dirty products while Turkey and Brazil have emerged as the main buyers of CPP…
The New Zealand government may restart the live export trade which has been banned since May 1, 2023.The ban was imposed in response to veterinarians, animal welfare advocates and the New Zealand public decrying conditions and outcomes for the animals…
BIMCO has released its Dry Bulk Shipping Market Overview & Outlook for April 2024, predicting that the supply/demand balance should strengthen in 2024, but weaken in 2025.This would be the result of ships returning to the Red Sea and Panama Canal…
U.S. troops have begun construction of a maritime pier off the coast of Gaza that aims to speed the flow of humanitarian aid into the enclave when it becomes operational in May, the Pentagon said on Thursday.President Joe Biden announced the…
Russia's state-owned reinsurer has given financial backing to three Russian insurance firms, allowing them to get Indian approval to provide marine insurance cover to tankers, two sources said, as Moscow seeks to facilitate trade with India amid Western sanctions…
Founded as the Military Sea Transportation Service (MSTS) and renamed Military Sealift Command in 1970, MSC today not only support the Navy, but we are the Department of Defense's provider of all sealift. Maritime Reporter & Engineering News recently interviewed Rear Adm…
The uniquely painted Norwegian Aqua was launched at the Fincantieri Marghera (Venice) shipyard, the first vessel in the Prima Plus class for Norwegian Cruise Line's (NCL).With external work now complete, the yard and its partners will forcus…
An open letter has called on Australia’s Albanese Government to deliver on its election promise and legislate an end to live sheep export.The call, from the RSPCA and 10 other Australian animal protection organisations, comes nearly six months…
Ocean Network Express (ONE) has launched a reduced emissions shipping service ONE LEAF+ which offers customers the opportunity to proactively manage their own emissions and minimize environmental impact across the value chain.ONE LEAF+ offers…
China and Europe face a 'slow motion train accident' as a rising tide of protectionism threatens to become a full trade war, the head of a European business lobby group warned on Wednesday, a day after Germany's chancellor conveyed European concerns to Beijing…
“Due to the COVID-19 pandemic, the global container market grew only 1.5% from 171.0 million TEU in 2019 to 173.5 million TEU in 2023. Without the pandemic, that figure would have been 24.6 million higher, landing at 198.1 million in 2023,” says Niels Rasmussen…
