Taiwan raised its alert level on Monday saying China has set up seven zones of reserved airspace and deployed naval fleets and coast guard boats in what a security source described as the first military drills across a broad swathe of the region's waters.A senior Taiwan security official told Reuters that China currently has nearly 90 navy and coast guard ships in waters near Taiwan
Canadian Labor Minister Steven MacKinnon said on Tuesday his proposal to appoint a mediator to help settle a dispute at the port of Montreal had been rejected.MacKinnon made the offer last week in a bid to resolve a standoff between the Maritime Employers Association and Montreal Longshoremen's union over a new contract. Dockworkers at the port began an overtime strike this month.
Retailers are fueling a summer rush of imports to the United States this year as companies guard against a potential strike by port workers and ongoing shipping disruptions from attacks in the Red Sea ahead of a shortened holiday shopping season.Container imports and freight rates surged in July
Fortescue has conducted the world's first ammonia marine bunker operation in the port of Singapore, the city-state's Maritime and Port Authority (MPA) and the Australian mining company said on Friday.The Singapore-flagged Fortescue Green Pioneer was loaded with liquid ammonia from an existing facility at Jurong Island's Vopak Banyan Terminal for the trial
Australia's Birdon Group announced its U.S. subsidiary has reached a deal to acquire Metal Shark Boats' shipyard in Bayou La Batre, Ala.Birdon America said it will utilize the 32-acre facility for vessel repair work as well as newbuild activity, including construction of the U.S. Coast Guard's $1.187 billion 27-vessel Waterways Commerce Cutter (WCC) Program awarded to Birdon in 2022.
New EU and British sanctions are based on false claims of missile transfers to Russia and are "unjustified", Iran Foreign Ministry spokesperson Esmaeil Baghaei said on Tuesday.Brussels on Monday added the Islamic Republic of Iran Shipping Lines (IRISL) and its director to its list of sanctions on Iran, which it said were a consequence of Tehran's support of Russia in its war with Ukraine.
Singapore-based shipbuilder Strategic Marine has secured an order for a next-generation crew transfer vessel (CTV) from OEG Renewables, part of the OEG Energy Group, destined to operate in Taiwan.The vessel, named Wey Feng, will be the fourth StratCat 27 that Strategic Marine is building for OEG Group.
Pangaea Logistics Solutions Ltd., announced a definitive agreement to purchase the remaining 50% equity ownership of its consolidated subsidiary, Nordic Bulk Partners LLC, from HS Nordic LLC, for $17.2 million in cash.The deal is expected to be completed by November 1, 2024. It will see Pangea own 100% of the equity in Nordic Bulk Partners
Spot premiums for 380-cst high-sulphur marine fuel at Singapore, the world's largest bunker hub, have surged due to the tight supply available for prompt deliveries, market sources said.The price strength for the fuel, which is used to power ships, has been keeping refuelling costs high for vessels calling at Singapore and other ports in the region.
Argentine authorities have quarantined a cargo ship in the Parana River over a suspected case of mpox onboard, the government said on Tuesday, as global public health authorities remain on alert for a new faster-spreading variant of the virus.The quarantined Liberian-flagged ship was sailing from Santos, Brazil - also a major commodities hub - to pick up soy cargo
The United States will fall far short of the Biden administration's 2030 offshore wind goal but will catch up quickly in the following years, according to an analysis by an industry group published on Tuesday.The American Clean Power Association (ACP) projected there will be about 14 gigawatts (GW) of offshore wind capacity along U.S. coastlines by 2030.
HD Hyundai Marine shares closed up 97% versus their initial public offering (IPO) price in the company's trading debut on Wednesday, after a 742 billion won ($538 million) IPO, South Korea's largest in two years.The successful listing of the ship maintenance and repair firm, backed by U.S. private equity giant KKR, paves the way for other potential offerings to come to market.