Sweden will order four navy frigates from France's Naval Group in a $4 billion deal that will triple its air defence capacity as the new NATO member focuses on security threats in the Baltic Sea, its prime minister said on Tuesday.Sweden is racing to build up its military in the wake of Russia's invasion of Ukraine and the Nordic country's subsequent accession to NATO
Shipping giants CMA CGM and Hapag-Lloyd said on Sunday they had suspended all bookings to and from Cuba until further notice, with both citing a U.S. executive order issued on May 1, in the latest blow to the crisis-wracked island's economy.The temporary suspension of new orders by two of the world’s largest shipping companies could jeopardize as much as 60% of Cuba's shipping traffic by volume
The U.S. is one week away from imposing port fees on certain vessels with links to China, a move expected to cost the top 10 carriers $3.2 billion next year as President Donald Trump seeks to address China's growing dominance on the high seas."While some observers believe the October 14 deadline may be extended - or even scrapped - as part of broader negotiations
The JSI Alliance has successfully completed a major project in India for client Afcons Infrastructure Limited. Afcons was contracted to construct a new liquid cargo berth for Gujarat Chemical Port Ltd. (GCPL). The JSI Alliance was contracted for the execution of critical heavy lifting operations for the development.
Fincantieri and Princess Cruises celebrated the delivery of Star Princess, the second LNG-powered (liquefied natural gas) cruise ship in Princess Cruises’ Sphere Class, at the Monfalcone shipyard.The ceremony was attended by Gus Antorcha, President of Princess Cruises, Mauro Bordin, President of the Regional Council of Friuli Venezia Giulia, Ester Fedullo, Prefect of the Province of Gorizia
The Canadian Coast Guard has remembered the 40th anniversary of the rescue of 155 Tamil refugees off the coast of Newfoundland.On August 11, 1986, Captain Gus Dalton and fellow fishermen found two lifeboats carrying 155 people fleeing violence and war in Sri Lanka near St. Shotts. Together with local fishing vessels, we launched a coordinated rescue effort.The CCGS Leonard J.
It would be "unwise" to assume that the situation in the Strait of Hormuz will return to how it was before the Iran war, the head of French shipping group CMA CGM said on Tuesday.CMA CGM, the world's third-largest container line, is among firms with vessels stranded inside the Gulf since the start of the conflict that has virtually closed the waterway
French shipping company CMA CGM expects first-quarter volumes growth of around 4.5%, despite major disruption to the global transport industry due to the U.S.-Israeli war with Iran."Growth in CMA CGM's volumes in the first quarter should be around 4.5 percent. In Africa, it's in double digits," CMA CGM Chairman and CEO Rodolphe Saade told Le Figaro paper in an interview.
French shipping and transport company CMA CGM said on Thursday it was taking measures to put some of its vessels in areas of safety due to harsh weather in parts of the Atlantic."Severe weather conditions are currently impacting the navigation conditions in the Atlantic, along the French, Spanish and Moroccan coastlines, with an event of exceptional intensity and duration
French shipping group CMA CGM and U.S. investment firm Stonepeak have agreed to create a joint venture valued at nearly $10 billion to operate and invest in port terminals, including in the United States, the companies said on Wednesday.CMA CGM, the world's third-largest container shipping group, last year announced plans to invest $20 billion in the United States
CMA CGM has reversed a decision to suspend cargo shipments to Mali over safety concerns and a fuel shortage, the French group said on Thursday following a meeting with the authorities.In early September, al Qaeda-linked militant group Jama'at Nusrat al-Islam wal-Muslimin (JNIM) announced a blockade on fuel imports to the landlocked West African country.
The U.S. is one week away from imposing port fees on certain vessels with links to China, a move expected to cost the top 10 carriers $3.2 billion next year as President Donald Trump seeks to address China's growing dominance on the high seas."While some observers believe the October 14 deadline may be extended — or even scrapped — as part of broader negotiations