Shipping companies that transport the world's coal are in the crosshairs of some financial backers who are cleaning up their businesses in the absence of a truly global drive by nations to renounce the dirtiest fossil fuel.In a sign of investors taking the initiative, six European firms collectively representing over 5% of the estimated annual $16 billion capital financing requirements of the
A cyber attack has disrupted container operations at the South African port of Cape Town, an email seen by Reuters on Thursday said.Durban, the busiest shipping terminal in sub-Saharan Africa, was also affected, three sources with direct knowledge of the matter told Reuters.Cape Town Harbour Carriers Association said in an email to members
The global oil market was thrown into chaos on Thursday after Russia invaded Ukraine, with top buyers of Russian oil struggling to secure guarantees at Western banks or find ships to take crude from one of the world's largest producers.At least three major buyers of Russian oil have been unable to open letters of credit from Western banks to cover purchases on Thursday, four trading sources said
The United States on Saturday denied that it had carried out military operations in Russian territorial waters, after Moscow said a Russian naval vessel chased away a U.S. submarine in Russian waters in the Pacific.Russia accused Washington of breaking international law and creating a national security threat over the incident at a time of high tensions between Moscow and Washington over a
An Egyptian court on Saturday postponed a hearing in a compensation case filed by the Suez Canal authority against the owners of a container ship that blocked the canal for six days in March, giving the sides more time to negotiate, legal sources said.The Ever Given, one of the world's largest container ships, became jammed across the canal in high winds on March 23
South Africa's major port of Durban, where operations were disrupted by severe flooding last week, is now functional and a backlog of thousands of containers will be cleared within five to six days, the public enterprises minister said on Tuesday.The floods caused extensive damage to roads leading to Durban port
Regulations governing deep-sea mining will take longer to finalize due to the global pandemic, a group of Latin American countries said, creating uncertainty for companies looking to mine the sea bed for metals, including cobalt and nickel.The delayed negotiations also pose a potential difficulty for companies seeking financing from investors to mine the sea floor.The U.N.
The Metals Co (TMC) was trading down around 17% after listing on the Nasdaq on Friday following its creation from the merger of deep-sea mining exploration firm DeepGreen and a blank-check company.TMC opened at $11.0535 a share but started falling soon after, hitting a low of $8.31.In a filing on Tuesday, TMC said it had received only $110.
Britain has approved plans to turn away boats illegally carrying migrants to its shores, deepening a rift with France over how to deal with a surge of people risking their lives by trying to cross the Channel in small dinghies.Hundreds of small boats have attempted the journey from France to England this year, across one of the world's busiest shipping lanes.
HEMEXPO President, Helen Polychronopoulou, says Greek marine technology developers see collaboration between shipping industry stakeholders as the key to innovation and decarbonization.Helen Polychronopoulou has dedicated her career to the successful growth and development of the marine equipment manufacturing industry in Greece and today leads HEMEXPO – Hellenic Marine Equipment Manufacturers