Authorities in Thailand on Thursday were working to avert a leak from a storage vessel carrying 400,000 barrels of crude oil.One crew member was killed after seawater entered the hull of the Benchamas 2 when a seal malfunctioned during maintenance earlier this week.Navy spokesperson Admiral Prokgrong Monthatphalin said multiple agencies were working to recover the body of the dead crewman
Japanese shipping company Ocean Network Express Pte. Ltd (ONE) on Wednesday announced it has ordered 10 new 13,700 TEU vessels for delivery in 2025 and 2026, adding more tonnage to the industry's crowded containership orderbook.ONE, which is jointly owned by the Japanese shipping lines Nippon Yusen Kaisha (NYK), Mitsui O.S.K.
Global shipping companies are exploring ways to boost safety in transporting cargoes as risks grow from fires erupting inside containers or in cars at sea, officials said on Wednesday.Shipping transports around 90% of world trade onboard different vessels including container and Ro-Ro ships with trade routes getting busier.
A group of partners in South Korea has set out to develop, demonstrate and commercialize vessels powered by small modular reactors (SMR).Nuclear power for ships has been gaining interest amid stricter greenhouse gas emissions regulations in the international shipping sector.Nine participating institutions, including KAERI, Gyeongsangbuk-do, Gyeongju-si
The Dutra Group has named Harry K. Stewart as its Chief Executive Officer. Stewart, who previously held the position of Chief Operating Officer at Dutra, assumes his new role as the company celebrates its 50th anniversary. Bill T. Dutra, who led the company since its founding, will move into the role of Executive Chairman.
Sea rescue charities on Thursday condemned tough anti-immigration measures recently introduced by the Italian government, saying the new rules will cause ever more deaths in the Mediterranean.The decree, which was introduced last week, says charity ships must request a port and sail to it "without delay" after a rescue, rather than remain at sea looking for other migrant boats in distress
Japanese container shipping company Ocean Network Express (ONE) announced it has acquired controlling stakes in three California container terminals amid a push by many of the world's largest global shipping lines to expand their presence in the port infrastructure component of the logistics chain.
Armach Robotics said on Tuesday that it had reached a major milestone by operating its hull cleaning robot successfully in full over-the-horizon (OTH) mode.In the water in Norfolk, VA, Armach’s hull service robot, was earlier this month monitored and controlled by staff at Armach’s command center in Plymouth, MA, using a 4G modem providing over-the-air connectivity.
European Union governments tentatively agreed on Thursday on a $60 a barrel price cap on Russian seaborne oil - an idea of the Group of Seven (G7) nations - with an adjustment mechanism to keep the cap at 5% below the market price, according to diplomats and a document seen by Reuters.The agreement still needs approval from all EU governments in a written procedure by Friday.
Container freight volumes at the largest U.S. ports were down 3.8% in September compared with the same month a year earlier, confirming the slackening of merchandise trade and downturn in the business cycle.The ports of New York-New Jersey, Los Angeles, Long Beach, Savannah, Houston, Norfolk, Charleston
U.S.-based ocean carrier Matson announced it has placed a $1 billion order with Philly Shipyard for the construction of three new 3,600 TEU Aloha Class containerships.The first vessel is expected to be delivered in the fourth quarter of 2026 with subsequent deliveries in 2027.Matson, which aims to achieve a 40% reduction in Scope 1 fleet emissions by 2030 and net-zero Scope 1 by 2050
Asset manager Atlas Corp said on Thursday it received a takeover offer from consortium group Poseidon Acquisition Corp in an all-cash deal for $3.64 billion.Poseidon, which comprises Atlas' board chairman David Sokol, affiliates of Canadian investment company Fairfax Financial Holdings Ltd, the Washington Family, and Japanese shipping company Ocean Network Express Pte Ltd