Business interruption, pandemic outbreak and cyber incidents -- three separate but 'strongly interlinked' matters -- lead the pack as the top threats to maritime in 2021, according to the 10th Allianz survey on risk in the maritime sector.The maritime industry, on its best day, is fraught with risk, as people
Seri Everest, the first in a series of three 98,000 cbm Very Large Ethane Carriers (VLECs) built at Samsung Heavy Industries Co., Ltd. (SHI) and delivered to MISC Berhad on October 30, 2020. Seri Everest is the first from a series of six VLECs that MISC purchased in July 2020. As a second generation VLEC, Seri Everest is one of the largest vessels of its kind in the world.
The world’s first Digital Smart Ship (DSS)On October 28, 2020, NYK took delivery of Sakura Leader, a pure car and truck carrier (PCTC) capable of navigating oceans with only LNG as the ship’s main fuel. This delivery marks a step toward achieving NYK’s environment management target, which is to reduce CO2 emissions per ton-kilometer of transport by 50% by 2050.
The owners of four Iranian fuel cargoes that were confiscated by U.S. authorities last month mounted a challenge to the seizure, asserting their rights to control the cargo, according to a court filing on Tuesday.The U.S. Justice Department last month announced the seizure of 1.116 million barrels of fuel it said was destined for Venezuela.
Insurance claims for damage to ships, goods and the port itself after a warehouse explosion last week in the port of Beirut were likely to total less than $250 million, reinsurance broker Guy Carpenter said on Monday.Overall insured losses - including property damage - from the August 4 port warehouse detonation of more than 2,000 tonnes of ammonium nitrate may reach around $3 billion
The chemicals that went up in flames in Beirut's deadliest peace-time explosion arrived in the Lebanese capital seven years ago on a leaky Russian-leased cargo ship that, according to its captain, should never have stopped there."They were being greedy," said Boris Prokoshev, who was captain of the Rhosus in 2013 when he says the owner told him to make an unscheduled stop in Lebanon to pick up
The United States on Thursday lifted sanctions on Marshall Islands-based Delos Voyager Shipping Ltd and Greece-based Romina Maritime Co Inc that had been imposed last month over accusations the companies operated in the Venezuelan oil sector.The U.S. Treasury Department’s action lifted Venezuela-related sanctions on four companies
Danish shipping company Norden announced Monday it has ordered four 61,000 dwt Ultramax bulk carriers from Nantong Cosco Khi Ship Engineering Co. (NACKS), for scheduled delivery in 2022.Norden CEO Jan Rindbo noted that the newbuilding contract is in line with the company’s strategy of agile asset trading and active management of Norden’s cyclical market exposure.
Three Greece-based shipping firms said they have halted trade with Venezuela after the United States imposed sanctions on vessels under their management, as Washington ramps up commercial heat on Caracas.The U.S. government is seeking to choke Venezuelan oil exports to starve the government of socialist President Nicolas Maduro of its main source of revenue.
The Ardent Group sold its Australian subsidiary Ardent Oceania Pty Ltd to its managing director Drew Shannon. It will continue as an independent company under the new name United Salvage Pty Ltd.Ardent, a maritime emergency management and wreck removal company created by the 2015 merger of salvage divisions of Svitzer and Crowley
First financial steps have been made to cement the planned succession process of Torben Østergaard-Nielsen’s global shipping group United Shipping & Trading Company (USTC), based in Middelfart, Denmark.The next generation in the family-owned business, daughters Nina Østergaard Borris and Mia Østergaard Nielsen, have become co-owners via the parent company Selfinvest.
The U.S. Treasury Department on Tuesday said it had sanctioned four shipping firms for transporting Venezuelan oil, the latest escalation in Washington's effort to oust socialist President Nicolas Maduro by cutting off the OPEC nation's crude exports.Marshall Islands-based Afranav Maritime Ltd, Adamant Maritime Ltd and Sanibel Shiptrade Ltd, as well as Greece-based Seacomber Ltd