Nippon Yusen (NYK), Japan's largest shipping line, is concerned that U.S. President Donald Trump's tariffs could push up the cost of automobiles and daily goods, denting consumer demand and slowing cargo flows, its president said."The tariffs are not directly borne by consumers, but the burden ultimately falls on them, which in turn reduces the actual flow of goods.
On February 21, 2025, the Office of the US Trade Representative (UST) released a notice of a proposal to impose wide-ranging fees on shipping companies and vessels with a Chinese nexus. The USTR has yet to release regulatory or administrative language that implements the proposals, and there is no guarantee this will actually happen.
China is stepping up pressure on the Philippines to concede its sovereign rights in the South China Sea, Manila's Defense Secretary Gilberto Teodoro said on Tuesday after meeting his Australian counterpart in Canberra.The fifth such meeting since August 2023 reflects growing security ties between the countries
The owner and operator of the cargo ship that struck Baltimore's Francis Scott Key Bridge in March, killing six people, have agreed to pay $102 million to the federal government, the U.S. Justice Department said on Thursday.The department in September filed a civil claim seeking $103 million from two Singaporean companies, Grace Ocean Private Limited and Synergy Marine Private Limited.
On a warm spring night in Athens, shortly before midnight, a senior executive at a Greek shipping company noticed an unusual email had landed in his personal inbox.The message, which was also sent to the manager's business email address, warned that one of the company's vessels travelling through the Red Sea was at risk of being attacked by Yemen's Iranian-backed Houthi militia.
The Philippines and China accused each other on Monday of ramming vessels and performing dangerous maneuvers in the South China Sea, the latest flare-up after the two nations had agreed to try to ease tensions and manage disagreements at sea.China's Coast Guard said in a statement a Philippine vessel which had ignored its repeated warnings "deliberately collided" with a Chinese vessel in an
Danish shipping group Maersk has agreed to join a study by maritime services firm Lloyd's Register (LR) and UK-based Core Power, that will assess the potential for nuclear-powered container shipping in Europe, LR said on Thursday.The maritime industry has been exploring whether nuclear fuel can be used to power commercial ships as technological advancements have opened up such options
Two crude oil tanker ships reported coming under attack in the Red Sea off the coast of Yemen on Tuesday, although neither reported damage, maritime security agencies said.The attempted assaults on those vessels, identified as the Liberia-flagged Delta Atlantica and the Panama-flagged On Phoenix
Yemen's Houthis are sending drone boats packed with explosives into the Red Sea as they intensify their attacks on merchant ships that have little defense against the "sophisticated shift" in tactic, maritime security sources say.Iran-aligned Houthi militants first launched aerial drone and missile strikes on the trade route in November in what they say is solidarity with Palestinians in Gaza.
Shipbuilding group Austal on Thursday announced that its inaugural chairman, John Rothwell, is retiring from his position of Chairman of the company to serve on the Austal board as a non-executive director.Former U.S. Secretary of Navy Richard Spencer will replace Rothwell as Chairman, and will also join the board of Austal USA.
A Greek-owned cargo ship was struck by a small craft off Yemen's Red Sea port of Hodeidah sustaining damage in its engine room, maritime security firms and shipping sources said on Wednesday.The vessel, Tutor, was hit approximately 67.7 nautical miles southwest of Yemen's port of Hodeidah, said British security firm Ambrey
Trader Gunvor and French major TotalEnergies have stored North Sea crude in at least four tankers in the past month as on-water stockpiling of the grades hits a 2-1/2 year high, a fresh sign of weak appetite for oil from refiners.At least 2.6 million barrels of North Sea crude grades Forties and Gullfaks have been put in floating storage in Europe, the highest volume since January 2022