Cyber, business interruption and natural catastrophes are the risks of most concern for businesses globally according to the Allianz Risk Barometer 2025 - as voted for by a record 3,778 risk management experts from 106 countries and territories.Cyber incidents (38% of responses, a record 7% points ahead) consolidates its position as the most important risk.
The union representing 45,000 dock workers on the U.S. East and Gulf Coasts and their employers on Wednesday said they reached a tentative deal on a new six-year contract, averting further strikes that could have snarled supply chains and taken a toll on the U.S. economy.The International Longshoremen's Association (ILA) and the United States Maritime Alliance (USMX) employer group
The United States is watching growing cooperation between Russia and China in the Arctic closely and some of their recent military collaboration in the region sends "concerning signals", the U.S. Arctic ambassador said.Russia and China have stepped up military cooperation in the Arctic while deepening overall ties in recent years that include China supplying Moscow with dual-use goods despite
China's Ministry of State Security said on Tuesday that it had retrieved spying devices both on the ocean surface and in the depths of the sea, including underwater "lighthouses" that could guide the transit of foreign submarines.The ministry said it had uncovered devices that had been hidden on the ocean floor and were sending back information that could "pre-set the field for battle
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 negative impact on maritime shipping and global supply chains from attacks in the Red Sea continues to intensify as traffic is rerouted away from the Suez Canal, Danish shipping company A.P. Moller-Maersk said on Thursday.Attacks in the Red Sea by Iran-aligned Houthi militants have disrupted a route vital to east-west trade, with prolonged rerouting of shipments
A U.S. nuclear-powered submarine will undergo maintenance in Australia for the first time on Friday, a key step by AUKUS partners to deter aggression in the Indo-Pacific, the defense ministers of Australia, Britain and the United States said.Australian personnel trained with the United States and Britain over the past year ahead of the submarine maintenance at HMAS Stirling in Western Australia
The Greek-flagged ship Sounion has been on fire since Aug. 23 after an attack by Yemen's Houthis with no obvious signs of an oil spill, EU Red Sea naval mission Aspides said in a post on X on Monday.The EU mission published photos dated Sunday showing fire and smoke coming out of the vessel's main deck.
A marine tanker carrying industrial fuel sank in rough seas off the Philippines on Thursday, causing the death of a crew member and an oil spill that could spread to waters off the capital Manila, officials said.Sixteen of the 17 crew members of MT Terra Nova have been rescued, Transportation Secretary Jaime Bautista said, after the ship capsized off the coastal town of Limay in Bataan province.
A marine tanker carrying industrial fuel sank in rough seas off the Philippines on Thursday, causing a large oil spill as coast guard rescuers search for a missing crew member, officials said.Sixteen of the 17 crew members of MT Terra Nova have been rescued, Transportation Secretary Jaime Bautista said, after the ship capsized off the coastal town of Limay in Bataan province.
Shipping giant Maersk said one of its vessels, the Maersk Sentosa, reported being targeted by a flying object in the north of the Gulf of Aden early on Tuesday.Maersk told Reuters that no injuries to the crew or damage to the ship or cargo were reported.A spokesperson for the Copenhagen-based company said the ship was one of its U.S.-flagged vessels sailing for the subsidiary Maersk Line, Limited.
Denmark-based A.P. Moller - Maersk has launched a dedicated division to provide installation services to the growing offshore wind industry.Maersk Offshore Wind has been formed as a spin off from Maersk Supply Service (MSS), which was acquired by Norwegian offshore supply vessel company DOF Group in a $1.11 billion in a cash and stock deal.The newly formed company is owned by A.P.