Fleet Modernization: Frontline Phases Out Five Senior VLCCs
John Fredriksen's maritime enterprise, Frontline, has officially announced the sale of its five most senior Very Large Crude Carriers (VLCCs).
Shipping
Cameroon Flag on Tankers Banned in UAE Over Safety Concerns
The United Arab Emirates has prohibited ships bearing the flag of Cameroon from entering its waters.
ZIM Elevating Container Monitoring with Advanced Tracking Tech
The global container fleet is moving towards enhanced intelligence as ZIM declares investment in tracking devices for its dry van container fleet
Nakilat Commissions Six New Gas Carrier Builds in S. Korea
Nakilat, a leading Qatari company in liquefied natural gas (LNG) shipping, is significantly expanding its fleet by adding six new gas carriers.
US Coast Guard Confiscate Cocaine, Heroin, Meth Valued at $11M
Gulf of Oman: US Coast Guard achieved initial drug interdiction for the year, successfully confiscating an array of narcotics valued at $11 million.
Crisis in Red Sea Risks Port Overcrowding & May Drive Shipping Costs
HSBC Global Research has issued a caution regarding the potential implications of the current crisis in the Red Sea on maritime logistics.
Container Shipping Costs Escalate Due to Security in Red Sea
In recent developments the shipping industry is witnessing a hike in short-term rates for container transport across Asia, Europe, and the USA.
IMarEST Appoints New Chief Executive
The Institute of Marine Engineering, Science & Technology (IMarEST) has officially announced Chris Goldsworthy as new chief executive officer.
Guangzhou Wenchong to Construct Methanol-Powered Vessels
Maersk has selected a shipyard in the southern region of China to construct its upcoming series of vessels powered by methanol.
13-Year Jail Sentence for Former Chinese Shipbuilding Head
Hu Wenming, former chairman of state-owned China Shipbuilding Industry Co (CSIC), has been sentenced to 13 years in prison and fined $700,000.
Wheat Futures Rose After Mine Incident in Ukraine
Wheat futures rose due to incident in Black Sea where a vessel preparing to load grain from Ukraine struck a mine, increasing fears of turbulence
Red Sea Route Changes: Higher Costs, More Delays
Major suppliers for global retailers such as IKEA & Amazon are adjusting shipping routes, marking the most significant disruption since COVID
Zodiac Maritime Explores Potential of Nuclear-Powered Ships
Zodiac Maritime is collaborating with KEPCO E&C, HD KSOE and Lloyd's Register of South Korea to create plans for ships powered by nuclear energy.
New Horizons: Beks Maneuvers Its Only Newcastlemax Vessel
According to Brokers, the Bekmezci family sold their first and only large cargo ship, a newcastlemax, after having it for a year.
Louis Dreyfus Prepares Juice Ship for Suction Sails
In a significant move, the Louis Dreyfus Company, has chosen to equip its leased juice transport vessel with four innovative suction sails.
Harim Group Chosen to Acquire HMM
The Harim Group has been chosen by state-owned creditors to acquire a controlling interest in HMM, South Korea's premier shipping company.
Bulk Carrier Hijacked Off Somalia Coast
Off the Somalian coast, commercial vessel remains hijacked by group of unknown assailants, significantly raising fears of persisting instability.
Panama Canal to Increase Daily Transits Next Month
Starting from January, the Panama Canal Authority will increase daily transits to 24, following consistent rain over the last 6-week period.
Egypt: 55 Vessel Diversions Since Nov Amid Growing Strains
The Suez Canal Authority of Egypt disclosed that they are vigilantly observing the repercussions of escalating tensions in the Red Sea.
Christening Ceremony for 3 Towboats at Middle River Marine
Middle River Marine, based in Mokena, Illinois, added three towboats—namely, the M/V Carmalee Rose, Macey Lauren, and Ava Renee—to its fleet.