Container shipping rates for key global routes have soared this week, with U.S. and UK air strikes on Yemen stirring concerns of a prolonged disruption to global trade in Red Sea, one of the world's busiest routes, industry officials said on Friday…
Missile strikes by the US and UK against Houthi militia in Yemen has brought heightened tensions across the region with disruption to ocean freight shipping set to deteriorate further.At approximately 2.30am (Sanaa/Red Sea time) today, Friday…
Caledonian Maritime Assets Limited (CMAL) announced the launch of MV Isle of Islay on March 16, 2024 at the Cemre Marin Endustri shipyard in Yalova, Turkey.It is the first of four ferries being built at the yard, and marks a major milestone…
Dollar revenues from Egypt's Suez Canal are down 40% from the beginning of the year compared to 2023, canal authority head Osama Rabie said on Thursday, after attacks on ships by Yemen's Houthis caused major shippers to divert away from the route…
When the United States and 11 allies published a joint statement last week calling for an end to Houthi attacks from Yemen on Red Sea shipping, they hoped the implicit threat of force might at least reduce the intensity of fire on foreign vessels…
The economic incentive to import oil from the U.S. Gulf Coast to Asia has closed as the cost of booking supertankers on the route has surged amid a jump in bookings for the vessels, traders said this week.With the arbitrage for U.S. shipments closed…
2023 was another challenging year for Port of Antwerp-Bruges. Geopolitical tensions and slowing global economic growth are driving down industrial production and trade flows, says the port.Total throughput, 271 million tonnes of cargo, was down 5…
South Africa has selected a Vopak consortium as the preferred bidder to develop and operate a liquefied natural gas (LNG) terminal at the Port of Richards Bay, state-owned Transnet National Ports Authority (TNPA) said on WednesdayThe Vopak Terminal…
Growth in sea-borne imports of liquefied petroleum gas (LPG) to Poland slowed 7% last year to 1.084 million metric tons, from a jump of more than 70% in 2022, with sea terminals working almost at capacity, according to traders and LSEG data…
The Maritime and Port Authority of Singapore (MPA) has selected companies that will pilot their vessel charging concepts in Singapore.The selection follows the call for proposal (CFP) by MPA in August 2023 to develop, operate, and maintain e-HC charging points in Singapore…
In a letter to U.S. Transportation Secretary Pete Buttigieg on January 4, the American Great Lakes Ports Association (AGLPA) called for regional equity in the distribution of Port Infrastructure Development Program (PIDP) grants.PIDP is the…
Israel's Transport Ministry on Tuesday said it was seeking to clarify Chinese shipper COSCO's reported decision to halt shipping to Israel.Israeli media this week reported that COSCO had suspended shipping to Israel. The company has declined to comment…
The U.S. trade deficit unexpectedly narrowed in November as imports of consumer goods fell to a one-year low amid slowing domestic demand, a trend that, if it persists in December, could result in trade having no impact on economic growth in the fourth quarter…
RightShip announced a partnership with Port of Sudeste, located in Itaguai, Rio de Janeiro, to start utilizing RightShip’s Maritime Emissions Portal (MEP) for the first time in the Latin American region.MEP is a digital solution that combines…
Two crewmembers were killed and another badly injured after a fire broke out on a containership in Port Houston.Port Houston Fire Department responded during the early morning hours on Monday to a report of a fire onboard the Panamanian-registered…
