U.S. companies that rely on East and Gulf Coast seaports have been importing early, shifting goods to the West Coast, and even putting cargo on pricey flights to hedge against a threatened Oct. 1 strike that could jam supply chains and reignite inflation ahead of the U.S. presidential election.
The U.S. on Thursday imposed sanctions on two companies and two vessels linked to Russia's Arctic LNG 2 project, Washington's latest step to add costs on Moscow for its invasion of Ukraine.The Arctic 2 project, 60% owned by Russia's Novatek had been due to become Russia's largest liquefied natural gas plant with eventual output of 19.8 million metric tons per year of LNG from three trains.
The cost of insurance for ships sailing through the Red Sea has nearly doubled after Yemen's Houthis attacked a tanker that appears to be leaking oil, with environmental fears growing for trade route, industry sources said on Wednesday.Iran-aligned Houthi militants first launched aerial drone and missile strikes on the waterway in November in what they say is solidarity with Palestinians in Gaza.
Retailers are fueling a summer rush of imports to the United States this year as companies guard against a potential strike by port workers and ongoing shipping disruptions from attacks in the Red Sea ahead of a shortened holiday shopping season.Container imports and freight rates surged in July
On June 25, the International Day of the Seafarer, IMO Secretary-General Arsenio Dominguez pays tribute to the two million seafarers who keep global markets functioning and supply chains going.In a video message to seafarers, Dominguez said: “Seafarers have been sorely tested in recent years – facing hostile acts from piracy or in conflict zones.
China's coastguard said it had taken measures against Philippine vessels in disputed waters of the South China Sea on Saturday, while the Philippines decried the moves, including the use of water cannons, as "irresponsible and provocative".China's actions led to "significant damage" and injury to personnel on a civilian boat hired to resupply troops
The Biden administration said it would not renew a license set to expire early on Thursday that had broadly eased Venezuela oil sanctions, moving to reimpose punitive measures in response to President Nicolas Maduro’s failure to meet his election commitments.Just hours before the deadline, the U.S.
Irving Shipbuilding has awarded Bardex Corporation a contract for a 165-meter shiplift drydock to support its River-class destroyer shipbuilding program for the Royal Canadian Navy.With a capacity of over 27,000 metric tons, the OmniLift Shiplift will include fifty-six 575-metric ton chain jack lift stations. According to Bardex, the shiplift drydock will be the largest in the Americas.
Transport and logistics insurer TT Club announced Thursday that Kevin King has stepped into the role as CEO, succeeding Charles Fenton effective August 1.Originally based in the U.S., King has long held positions within Thomas Miller managed businesses, and transferred to London in 2015 to lead the Europe, Middle East and Africa region at TT.
The U.S. Navy announced it has accepted delivery of its latest Flight IIA Arleigh Burke–class guided missile destroyer, the future USS John Basilone (DDG 122), on July 8.Built by General Dynamics Bath Iron Works in Bath, Maine, DDG 122 will serve as a multi-mission surface combatant capable of conducting Anti-Air Warfare, Anti-Submarine Warfare and Anti-Surface Warfare.
The Port of Seattle has commenced the renovation of the historic Ship Supply Building at Fishermen’s Terminal, aiming to transform it into a modern Maritime Innovation Center (MInC). This new facility will support the maritime industry by bringing together students, businesses, public agencies, and community stakeholders. The port is partnering with Miller Hull for the construction.
Maryland Transportation Secretary Paul J. Wiedefeld has announced Jonathan Daniels as the new executive director of the Maryland Department of Transportation’s Maryland Port Administration. Daniels comes to Maryland after serving as chief executive officer and director at Port Everglades in Broward County, Fla., and has more than 30 years of port and economic development experience.