Benny Cenac Jr.’s Houma based Main Iron Works Company has completed the 10th boat newbuild for Ingram Marine Group. This partnership with Main Iron Works and Ingram began in 2021 and included the construction of 10 new towboats to be completed by the end of 2024. The first towboat, the Adrienne M.
Two of the world's top shipping companies, Maersk and Hapag-Lloyd, said on Thursday they did not see an immediate return to Red Sea after the ceasefire between Hamas and Israel was announced.Both companies said they would be closely monitoring the situation in the Middle East and would return to the Red Sea once it was safe to do so."The agreement has only just been reached.
Danish shipping group A.P. Moller-Maersk said on Monday it had raised its full-year forecasts on the back of strong third quarter results, robust demand and the continuing disruption to shipping in the Red Sea.Maersk said it had revised its outlook for global container market volume growth in 2024 to around 6% from a range of between 4% to 6% seen previously.
Port and logistics firm DP World is going ahead with a 1 billion pound ($1.3 billion) investment in its London Gateway port, Britain's government said on Sunday after reports last week that the company had paused the project in protest.In what had been an embarrassment for the government before a major investor conference
Broker Marsh and Lloyd's underwriter Tokio Marine Kiln (TMK) have set up business interruption insurance for ports to provide cover against growing trade disruption risks such as threats to shipping in the Red Sea, executives involved said.Ports across the globe are dealing with multiple issues that are disrupting flows of goods
A Greek appeals court on Friday reduced the prison sentences of 11 men involved in trafficking 1.2 metric tons of cocaine from the Caribbean into Europe and Africa, in one of the biggest drug busts in Greece's history.Greek police said in 2020 it had dismantled the criminal group after a months-long investigation with assistance from the United States' Drug Enforcement Administration (DEA) and
The operation has started to tow a Greek-registered oil tanker stranded in the Red Sea after an attack by Houthi militants last month, a shipping source told Reuters on Saturday.Towing the 900-foot (274.2-metre) MV Sounion to safety is the first step in a risky operation to salvage the vessel that caught fire after it was repeatedly attacked on Aug. 21.
A power outage in the Rotterdam port area in the Netherlands briefly interrupted operations at one of Europe's biggest oil refineries on Tuesday, the plant's operator BP said.Electricity grid operator TenneT said the problem was solved shortly after 1000 GMT. It said that BP's 400,000 barrels per day oil refinery, Europe's second largest, was among the plants affected
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
China's COSCO Shipping Corporation has signed a preliminary agreement with Australia's Fortescue to jointly build a green fuel supply chain to help reduce pollution from the shipping industry, the Chinese company said on Monday.The memorandum of understanding includes exploring construction and deployment of green ammonia-fuelled vessels owned either by COSCO or jointly owned by both companies
Nine people were confirmed dead and four were still missing after a British-Norwegian fishing vessel sank off the coast of the Falkland Islands on Monday, the boat's owner said on Wednesday.A total of 27 crew members had been aboard the Argos Georgia, a Saint Helena-flagged vessel, of whom 14 have so far been found alive, Stig Ervik, CEO at Norway's Ervik Havfiske Holding, told Reuters.
Shipping giant Maersk said one of its vessels, the Maersk Sentosa, reported being targeted by a flying object in the north of the Gulf of Aden early on Tuesday.Maersk told Reuters that no injuries to the crew or damage to the ship or cargo were reported.A spokesperson for the Copenhagen-based company said the ship was one of its U.S.-flagged vessels sailing for the subsidiary Maersk Line, Limited.