Global commodity prices are set to surge 23% in 2026, the World Bank said on Wednesday, citing rising energy prices and disruptions to cargo shipping during the Middle East war, grain shipment problems in the Black Sea and high demand for safe-haven assets such as gold.Oil, natural gas, food and metals prices all rose sharply this year as global shocks mounted
Shipping through Romania's Black Sea port of Constanta was stable and grain exports had increased by end-September, the port authority said, despite a spike in marine insurance premiums driven by increased attacks on cargo vessels.In September, London's marine insurance market widened the area in the Black Sea it lists as high risk, as Russia's war in Ukraine escalated
Louisiana-based boatbuilder Metal Shark has been awarded two U.S. Coast Guard Foreign Military Sales (FMS) contracts to produce patrol boats for the maritime forces of Cameroon and the Republic of Georgia. Each contract includes a Metal Shark 38 Defiant patrol boat, transport trailer, spare-parts package, and operator training.
Romania scrambled F-16 fighter jets to destroy a marine drone spotted a few hundred metres from the Black Sea gas project Neptun Deep, Defence Minister Radu Miruta said on Thursday.The incident underscores the growing threat to critical energy infrastructure in the Black Sea from drones and mines linked to Russia's war in Ukraine
A maritime drone self-detonated on Friday in Romania's Black Sea port of Constanta near an oil terminal, without causing casualties, as Ukraine accused Russia of jamming one of its vessels before it drifted into Romanian waters.The explosion was the second major incident in a populated area in Romania on NATO's eastern flank in just a week as the spillover threat increases from the war in Ukraine
The EU has proposed extending its sanctions against Russia to include ports in Georgia and Indonesia that handle Russian oil, the first time it would target ports in third countries, a proposal document showed on Monday. The proposal, reviewed by Reuters, wouldadd Kulevi in Georgia and Karimun in Indonesia to the sanctions list
Greece has warned its shipping fleet to review their security measures when sailing to Russian Black Sea ports after drone attacks on two Greek-operated tankers this week, according to shipping ministry advisories.Drones struck two oil tankers on Tuesday, including one chartered by U.S. oil major Chevron, as they sailed toward a Black Sea terminal on Russia's Black Sea coast.
ABB has secured a contract to supply integrated power, propulsion and control solution for BC Ferries’ four new hybrid-electric major vessels.The New Major Vessels have been designed to minimize emissions and underwater radiated noise (URN), with the goal of contributing to quieter and cleaner operations in the Strait of GeorgiaABB will supply a complete package of power
A Russia-bound oil tanker suffered a drone attack in the Black Sea that prompted it to request Turkish coastguard assistance and divert from its course, according to a notice by Lloyd's List Intelligence and a separate maritime security source on Thursday.Maritime data specialist Lloyd's List Intelligence said the Palau-flagged Elbus vessel "experienced an unmanned marine-vehicle and drone
Finnish police said on Friday they had made progress in a criminal investigation into damage caused to an undersea telecommunications cable owned by operator Elisa.Police seized the cargo vessel "Fitburg" on Wednesday while it was en route from Russia to Israel on suspicion that it had sabotaged the telecoms cable running across the Gulf of Finland from Helsinki to Estonia.
Finnish police on Wednesday seized a ship sailing from Russia on suspicion of sabotaging an undersea telecoms cable running from Helsinki to Estonia across the Gulf of Finland, an area hit by a string of similar incidents in recent years.The seized cargo vessel "Fitburg" was en route from the Russian port of St Petersburg to Israel at the time of the incident
Seventeen students from seven U.S. and El Salvador maritime academies and universities have been selected as the 2025 recipients of the Thomas B. Crowley Sr. Memorial Scholarship. The scholarship recognizes students who demonstrate exceptional academic achievement and dedication to their studies related to the maritime industry. The scholarship honors the legacy of Thomas B. Crowley Sr.