Shipping group Maersk said on Wednesday it is confident about the outlook for shipping beyond 2020 as a second wave of coronavirus infections has only had a limited impact on global freight volumes.Maersk, the world’s biggest container shipping line, has recovered faster than expected after the pandemic halted trade around the world, benefiting from higher retail sales in the United States.
The United Nations shipping agency on Tuesday approved measures to boost energy efficiency in vessels as part of efforts to reduce the industry's carbon footprint, a UN spokeswoman said.Countries approved the additional regulations to reduce the carbon intensity of commercial ships at this week's virtual Marine Environment Protection Committee (MEPC) session of the International Maritime
The shipping industry must act now in order to meet U.N. targets to cut carbon emissions by 2050, leading officials said on Wednesday, ahead of a meeting next week that will seek to advance a plan.The U.N. agency the International Maritime Organization (IMO) has said it aims to reduce overall greenhouse gas emissions from ships by 50% from 2008 levels by 2050.
Business is booming at a sea dock in western Turkey, where five hulking cruise ships are being dismantled for scrap metal sales after the COVID-19 pandemic all but destroyed the industry, the head of a ship recyclers’ group said on Friday.Cruise ships were home to the some of the earliest clusters of COVID-19 as the pandemic spread globally early this year.In March, U.S.
Somali pirates have released three Iranian hostages held for five years, a maritime security official said on Thursday, as conflicting reports emerged whether another ship had been seized after a three-year hiatus in hijackings.The three Iranians are the last of the crew of the Iranian fishing vessel FV Siraj, which was captured by pirates on March 22, 2015.
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
With uncertainty surrounding business in general, and specifically the future shape and form of the cruise industry, it was announced the the establishment of the new cruise terminal in Copenhagen is postponed indefinitelyA very significantly changed cruise market, due to the crisis with the coronavirus pandemic
The Independence-class littoral combat ship - the future USS Oakland (LCS 24) - has completed acceptance trials in the Gulf of Mexico, shipbuilder Austal has informed.The LCS 24 is the 12th Independence-class Littoral Combat Ship (LCS) built by Austal USA in Mobile, Alabama for the United States Navy (USN).
The U.S. Navy accepted delivery of its first Zumwalt-class destroyer USS Zumwalt (DDG 1000) on April 24 following Combat Systems Activation.The ship will transition to the next phase of developmental and integrated at-sea testing. This event marks a major milestone of the dual delivery approach for USS Zumwalt
Dozens of tankers holding jet fuel and gasoline are at anchor in sea lanes around Europe's main storage hubs, unable to discharge their cargoes as onshore tanks are full to capacity following the collapse in demand linked to the coronavirus crisis.Nearly 1 million tonnes of refined products are parked on around 30 tankers off Europe's coast, Reuters calculations found.
Hedge fund managers sensed oil prices were nearing a turning point last week, and for the first time in more than two months started to add long positions in anticipation prices would bounce from an unsustainable low.Overall, hedge funds and other money managers were still net sellers of 19 million barrels of petroleum in the six most important futures and options contracts in the week ending on
Shipbuilder Bath Iron Works (BIW) has officially started construction of the future USS Louis H. Wilson Jr. (DDG 126), the U.S. Navy announced. The new warship will be the first Arleigh Burke-class destroyer built in the Flight III configuration at BIW.The milestone was marked by a ceremony on Tuesday at General Dynamics BIW's structural fabrication facility in Brunswick, Maine.