U.S. President Donald Trump has hailed a deal led by U.S. firm BlackRock to buy most of the $22.8 billion ports business of Hong Kong conglomerate CK Hutchison which includes assets along the Panama Canal.The deal will give the U.S. consortium control of key Panama Canal ports amid White House calls to remove them from what it says is Chinese ownership.
President Donald Trump once again withdrew the United States from the Paris climate deal on Monday, removing the world's biggest historic emitter from global efforts to fight climate change for the second time in a decade.The move places the United States alongside Iran, Libya and Yemen as the only countries in the world outside the 2015 pact
Chinese and Indian refiners will source more oil from the Middle East, Africa and the Americas, boosting prices and freight costs, as new U.S. sanctions on Russian producers and ships curb supplies to Moscow's top customers, traders and analysts said.The U.S. Treasury on Friday imposed sanctions on Russian oil producers Gazprom Neft and Surgutneftegas
Taiwanese shipping firm Yang Ming Marine Transport Corp said one of its cargo ships caught fire on Friday at China's Ningbo-Zhoushan Port, one of the world's busiest.Earlier, Chinese state media said an explosion was reported at the port and shockwaves were felt a kilometer away.Yang Ming Marine Transport said a fire occurred on board the YM Mobility while it was operating in the port.
The 2024 IMO Award for Exceptional Bravery at Sea is to go to two sets of nominees: the captain and crew of the oil tanker Marlin Luanda for containing a fire after the ship was struck by an anti-ship missile; and the captain and crew of the tugboat Pemex Maya for their rescue of six shipwrecked people from four different vessels during a hurricane.
South Korea's first domestically built geophysical exploration research vessel was commissioned during a ceremony at Pohang Yeongilman Port on May 31.The 92-meter Tamhae 3 is a fully state-funded research vessel owned by the Korea Institute of Geoscience and Mineral Resources (KIGAM).
CK Hutchison on Thursday reported an 11% drop in underlying profit for 2024, as one of Hong Kong's most powerful conglomerates becomes increasingly embroiled in a political row over the sale of its ports business to a BlackRock-led consortium.The telecoms-to-retail conglomerate, owned by billionaire Li Ka-shing, said this month it had agreed to sell most of its global ports business
China's Hong Kong and Macau Affairs Office (HKMAO) reposted a commentary criticizing CK Hutchison's port deal with U.S. firm BlackRock as a betrayal of China, sending shares of the Hong Kong-based conglomerate sharply lower on Friday.The repost of the critical state media commentary by China's governing body overseeing the territory highlights the complex geopolitical pressures the firm faces
PANAMA CITY, FL – Eastern Shipbuilding Group, Inc. (ESG) announced the successful delivery of the LONG ISLAND (ESG Hull 228), a newly constructed passenger and auto ferry, to the Bridgeport & Port Jefferson Steamboat Company, a subsidiary of McAllister Towing. The vessel, designed to provide seamless transportation between Bridgeport, CT, and Port Jefferson, NY, across Long Island Sound
On January 10, a group of over 240 shipping executives attended seminar in Shanghai on "Contributing to the China Solution to Cross the Carbon Threshold."The aim was to further build consensus on industry development needed to respond to the challenges brought by the new EU shipping carbon tax fuel regulations.
Schmidt Sciences has named 25 scholars working at the forefront of AI as AI2050 fellows and will award them up to $12 million to advance research that realizes the potential of AI to benefit humanity.The AI2050 program asks researchers to imagine the year 2050 where AI has been hugely beneficial and to pursue projects that help society realize this.
The IACS’ Council, meeting last week in Rome for its 89th session (C89) under new Council Chair, Roberto Cazzulo, progressed a wide range of issues, foremost of which was the need for the human element to be considered at the earliest stage across all IACS’ work streams. The requirement for increased awareness and focus on how a ship’s crew can safely operate increasingly sophisticated vessels