As geopolitical tensions rise globally, and President Trump prepares to reenter the White House later this month, focus turns to the maritime sector and China's growing dominance. So when the U.S. Department of Defense released on the Federal Register on January 7, 2025 a "Notice of Chinese military companies operating in the United States
Mining company Rio Tinto has reported that a deck fitter on board its bulk carrier RTM Zheng He, travelling from China to Western Australia, went missing.A deck fitter, named Gel Aguaviva, was reported missing on December 26, 2024.Rio Tinto said an extensive and ongoing search and rescue operation has been conducted over the past seven days
The 73-meter-long German oil and chemical tanker Annika caught fire on October 11 whilst northeast of Kühlungsborn, Germany, in the Baltic Sea. The Maritime Rescue Co-ordination Centre (MRCC) Bremen, operated by the German Society for the Rescue of Shipwrecked People (DGzRS), led the response.
U.S. Gulf of Mexico energy firms on Friday were lumbering back from hurricane disruptions as offshore oil and gas producers ramped up operations after halving the key energy region's output, ports reopened, and onshore terminals accepted oil and liquefied natural gas (LNG) tankers.Hurricane Francine shut in up to 42% of the region's offshore oil and 53% of its natural gas production.
Taiwanese shipping firm Yang Ming Marine Transport Corp said one of its cargo ships caught fire on Friday at China's Ningbo-Zhoushan Port, one of the world's busiest.Earlier, Chinese state media said an explosion was reported at the port and shockwaves were felt a kilometer away.Yang Ming Marine Transport said a fire occurred on board the YM Mobility while it was operating in the port.
Global manufacturing activity and freight are showing signs of a recovery, after a downturn took hold in the second half of 2022 and lasted for most of 2023, which could support petroleum consumption and prices later in 2024.But indicators from the United States have been more mixed and manufacturers there may struggle until the central bank starts to cut interest rates to stimulate consumption
Russia's state nuclear agency Rosatom has signed a memorandum of understanding with a Chinese shipping company to establish a year-round container line between the two countries via the Arctic's Northern Sea Route (NSR), it said on Thursday.Russian President Vladimir Putin has talked up prospects for the Arctic corridor as Russia shifts its trade eastwards in response to Western sanctions over
Britain announced sanctions on Friday against three companies and one individual over what it called the "illicit ‘arms-for-oil’ trade" between Russia and North Korea.The announcement followed a decision by the United States to impose sanctions on two Russian individuals and three Russian companies for facilitating arms transfers between Russia and North Korea
Newcastle United football club co-owner Amanda Staveley on Monday lost a London High Court battle with a Greek shipping tycoon over a historic debt of nearly 3.5 million pounds ($4.4 million).Staveley, who owns 10% of the Premier League side with her husband, denied she was liable to Victor Restis for a sum that had snowballed with interest to over 36 million pounds.
French shipping company CMA CGM and its business partners COSCO Shipping 601919.SS, Evergreen 2603.TW and OOCL said on Tuesday that they had agreed to extend their 'OCEAN Alliance' co-operation deal for another five years beyond 2027, to 2032.The 'OCEAN Alliance' partnership aims to help customers deal with their supply chains by offering up fast transit times and access to a wide range of ports
Dr. Kishore Rajvanshy is stepping down after three decades as managing director of Fleet Management Limited (FLEET), currently the world’s largest third-party ship management company.FLEET announced it has begun implementing a phased succession plan as Rajvanshy transitions from his current role, with a global search for a new managing director underway.
Yanmar Power Technology Co., Ltd. (YPT), a subsidiary of Yanmar Holdings Co., Ltd., has embarked on the development of a hydrogen-fueled four-stroke high-speed engine for power generation for coastal vessels in Japan as part of the Nippon Foundation’s zero emission ship demonstration experiment. The engine utilizes hydrogen as a fuel, emitting no CO2 during combustion.