A U.S. judge approved on Friday a $102 million settlement by the companies that owned and operated the ship that struck Baltimore's Francis Scott Key Bridge in March, killing six people.The payment, approved by U.S. District Judge James Bredar, resolves the U.S. government's claims after the Justice Department filed a civil claim in September seeking $103 million from two Singaporean companies
The owner and operator of the cargo ship that struck Baltimore's Francis Scott Key Bridge in March, killing six people, have agreed to pay $102 million to the federal government, the U.S. Justice Department said on Thursday.The department in September filed a civil claim seeking $103 million from two Singaporean companies, Grace Ocean Private Limited and Synergy Marine Private Limited.
Broker Marsh and Lloyd's underwriter Tokio Marine Kiln (TMK) have set up business interruption insurance for ports to provide cover against growing trade disruption risks such as threats to shipping in the Red Sea, executives involved said.Ports across the globe are dealing with multiple issues that are disrupting flows of goods
The U.S. Justice Department on Wednesday filed a civil claim seeking $103 million from the two Singaporean companies that owned and operated the container ship that in March toppled the Francis Scott Key Bridge in Baltimore, killing six people and paralyzing a major transportation artery for the U.S. Northeast.
Royal Boskalis B.V. on Monday announced it has reached a deal to take full ownership of marine services and towage provider Smit Lamnalco, after another deal for the company to be acquired by Spain’s Boluda Group fell through.Dutch dredging contractor and marine services firm Boskalis, which has held a 50% stake in Smit Lamnalco alongside joint owner Saudi Arabia's the Rezayat Group since 1964
Venezuela's state oil company PDVSA has begun using tankers that navigate off radar to supply its closest political ally, Cuba, as a fleet of state-owned vessels that have historically covered the route dwindles, according to documents and ship monitoring services.Cuba and its main oil supplier, Venezuela
The International Transport Workers’ Federation (ITF) is calling out Dubai-based ship management company Middle East Marine LLC for what it described as "the worst case of serial seafarer abandonment ever seen", involving the systematic abuse and neglect of more than 100 seafarers.
Logistical constraints at the Port of Vancouver mean waterborne oil exports from the highly anticipated Trans Mountain pipeline expansion due to start up on Wednesday may only be around half what the Canadian government-owned corporation has forecast, traders and shipping sources said.The C$34 billion ($24.
Ship engine manufacturer Wärtsilä expects to deliver its first ammonia-fueled engine on a new vessel in early 2025, with more widespread sales expected in the 2030s, a company executive told Reuters.Ammonia is among several alternative fuels that shippers are exploring to reduce carbon emissions.
The owner, operator and charterer of the container ship that struck Baltimore’s Francis Scott Key Bridge on Tuesday are likely to face lawsuits over its collapse and the people killed or injured, but legal experts say U.S. maritime law could limit the companies’ liability.U.S. laws pertaining to open-water navigation and shipping, which are created through court decisions and by acts of Congress
Efforts to limit environmental damage from a cargo vessel that sank after a Houthi missile strike and another abandoned during a fiery assault are on hold until attacks on ships ease, the United Nations' maritime shipping regulatory agency said on Monday.The UK-owned Rubymar last month became the first vessel lost since the Houthis began targeting commercial ships in the Red Sea area in November.
The U.S. on Thursday imposed sanctions on maritime companies and vessels for shipping Russian oil sold above the G7's price cap, as Washington seeks to close loopholes in the mechanism designed to punish Moscow for its war in Ukraine.The U.S. Treasury Department in a statement said it slapped sanctions on three United Arab Emirates-based companies and three vessels owned by them in the action