Global insurer Allianz Commercial recently issued its 2025 Safety & Shipping Review, examining maritime risk trends and losses. The report revealed that the shipping industry has made significant improvements when it comes to maritime safety in recent years. During the 1990s the global fleet was losing 200+ vessels a year.
The offshore rig market recovery appears to have taken a pause, with demand tapering off and marketed utilization hitting the lowest levels recorded since recovery began in 2021. A variety of factors have contributed to this – including Saudi Aramco’s suspension of over 30 jackup contracts by up to one year, the entry of newbuild rigs into the market without work to go to
Japan is world’s third largest shipping nation as owners control 12% of the fleet“Combined, Japanese shipowners currently own 12% of the global fleet’s deadweight tonnes capacity (DWT). This makes Japan the third largest shipowning country in the world and one of only three countries where shipowners control more than 10% of the global fleet’s DWT capacity,” says Niels Rasmussen
In the ever-evolving world of maritime trade, ship ownership is a key indicator of economic influence and global commerce. As we enter 2025, Veson Nautical offers its Top 10 Ship Owning Nations, offering a detailed analysis of fleet values and industry shifts. This year, China has surged to the top, overtaking Japan in total fleet value
Spilled oil has washed up along "tens of kilometres" of the Russian Black Sea coast after two tankers were badly damaged in a storm at the weekend, a regional official said on Tuesday, and state media said a third vessel was now in trouble.TASS news agency said the third ship, also a tanker, had issued a distress signal off the port of Kavkaz, but its hull was still intact
A new analysis from Windward reports a 20% decrease in the volume of direct oil voyages out of Russia in Q3 2024 compared to Q2.Q3 2024 marked the lowest monthly average of direct voyages from Russia to China since March 2023. When compared to Q2 2024 averages, there is a decrease of 12% in such voyages.
Britain has slapped sanctions on 10 further ships in Russia's so-called "shadow fleet" of vessels which it says use illicit practices to avoid Western restrictions on Russian oil.Russia rejects Western pressure to limit its oil exports, and in the past year there has been a growth in the number of tankers transporting cargoes that are not regulated or insured by conventional Western providers.
BW LPG on Thursday announced it has agreed to acquire 12 very large gas carriers (VLGC) from Avance Gas in a cash and stock deal valued at more than $1 billion.The deal will see Avance Gas sell off the entirety of its VLGC fleet, including four 91,000-cubic-meter (cbm) vessels built in South Korea in 2022 and 2023 and eight 83,000-cbm vessels built in China in 2015
A.P. Moller - Maersk (Maersk) is in the process of signing newbuilding orders and time-charter contracts for LNG dual-fuel container ships.The new orders for 50-60 vessels will match its planned renewal pace of around 160,000 TEU per year.The new orders are a continuation of its fleet renewal program initiated in 2021 which has seen orders placed for 25 methanol dual-fuel vessels
The maritime industry is seeing significant fleet growth in the containership sector as the volume of newbuild deliveries eclipses previous highs.“Since the beginning of the year, the capacity of the containership fleet has increased by 1.6 million TEU. Compared to one year ago, the capacity has risen 11% to 29.
Spanish authorities have detained a German-operated cargo ship for causing a spill during a refueling operation near the Spanish enclave of Ceuta, Spain's Merchant Fleet said on Monday.The Antigua & Barbuda-flagged Tony Stark ship cannot leave the port on Africa's north coast until the owners pay bail of 120,000 euros ($130,524), it added.
One person has died and another is missing after a commercial tanker struck a recreation vessel near Port Aransas, Texas.The U.S. Coast Guard said it received a call from a good Samaritan via channel 16 at 5:28 a.m. reporting the collision between. The recreational vessel, reported to be a commercial pleasure boat, became partially submerged, and the four people on board went into the water.