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South Korea to Invest $150B in Boosting U.S. Shipbuilding

South Korea commits to $150 billion investment aimed at revitalizing U.S. shipbuilding sector, as part of a $350 billion bilateral trade agreement

South Korea to Invest $150B in Boosting U.S. Shipbuilding
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Carbon Emissions Improve in Shipping Despite Red Sea Crisis

Container shipping records an improvement in carbon efficiency for the first time in over a year, despite ongoing challenges in the Red Sea region

Carbon Emissions Improve in Shipping Despite Red Sea Crisis
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Engine Room Fire Breaks Out on Pumba in Red Sea Transit

July 29th, a fire broke out in the engine room of the Pumba, a Liberia-flagged container vessel, while the ship was sailing through the Red Sea.

Engine Room Fire Breaks Out on Pumba in Red Sea Transit
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Ever Feat Arrives in Montevideo After Storm Damage at Sea

July 29th, the Ever Feat docked at the Port of Montevideo, Uruguay following severe weather encountered off the coast of Rio Grande, Brazil.

Ever Feat Arrives in Montevideo After Storm Damage at Sea
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First IRRC Issued Under Hong Kong Convention for Recycling

GMS, the world’s leading ship recycling buyer, has announced the issuance of the first-ever International Ready for Recycling Certificate (IRRC).

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Houthis Share Video of Eternity C Crew, Escalate Threats

On July 28, Yemen’s Houthi rebels announced they had rescued 10 crew members from the Eternity C, a cargo ship that sank earlier this month.

Houthis Share Video of Eternity C Crew, Escalate Threats
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Greece Sends Salvage Ship to Red Sea Amid Houthi Threats

In response to a rise in maritime assaults by Yemen’s Houthi militants, Greece deploys salvage vessel to Red Sea. after the sinking of two bulkers

Greece Sends Salvage Ship to Red Sea Amid Houthi Threats
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Cargo Ship MN Kostas Runs Aground Off Crete, Crew Safe

On July 24, the Sierra Leone-flagged cargo ship MN Kostas ran aground near Kyriamadi, along the northeastern shoreline of Crete, Greece.

Cargo Ship MN Kostas Runs Aground Off Crete, Crew Safe
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Dry Bulk Fleet Growth Slows Despite Surge in Deliveries

The global dry bulk fleet is growing at just half the pace seen during the 2010s even as deliveries are set to hit their highest level in six years

Dry Bulk Fleet Growth Slows Despite Surge in Deliveries
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CMA CGM and TotalEnergies Launch LNG JV in Rotterdam

CMA CGM has partnered with energy company TotalEnergies to establish a joint venture for LNG bunkering operations at the Port of Rotterdam.

CMA CGM and TotalEnergies Launch LNG JV in Rotterdam
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GLBP and Loa Carbon Partner to Supply Renewable E-LNG

Galveston LNG Bunker Port enters into letter of intent with Loa Carbon to receive renewable e-methane for liquefaction at its upcoming facility.

GLBP and Loa Carbon Partner to Supply Renewable E-LNG
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BIMCO Adopts New Clause for USTR-Linked Shipping Risks

Documentary Committee of BIMCO introduces contract clause to tackle legal uncertainties stemming from the U.S. Trade Representative’s recent plans

BIMCO Adopts New Clause for USTR-Linked Shipping Risks
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MOL Unifies Ship Management Under One Brand and Base

MOL is taking a step toward operational efficiency by uniting its ship management operations under one umbrella, both in branding and location.

MOL Unifies Ship Management Under One Brand and Base
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Malta Frees Two Sanctioned Ships After Ownership Change

Two container ships detained in Malta since 2022 due to ties with sanctioned Russian interests have been released following a change in ownership

Malta Frees Two Sanctioned Ships After Ownership Change
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UK Sanctions 137 Russian Oil Ties, Targets Shadow Fleet

The United Kingdom unveils sweeping new sanctions on 137 Russia-linked entities, including 135 oil tankers associated with Putin’s shadow fleet.

UK Sanctions 137 Russian Oil Ties, Targets Shadow Fleet