Thailand's military deployed warships and helicopters on Monday to try to locate 33 marines missing after a corvette sank overnight in choppy waters in the Gulf of Thailand, the navy said.Three navy vessels and two helicopters were sent to find the missing off Prachuap Khiri Khan province, south of Bangkok
European Union governments tentatively agreed on Thursday on a $60 a barrel price cap on Russian seaborne oil - an idea of the Group of Seven (G7) nations - with an adjustment mechanism to keep the cap at 5% below the market price, according to diplomats and a document seen by Reuters.The agreement still needs approval from all EU governments in a written procedure by Friday.
U.S.-based ocean carrier Matson announced it has placed a $1 billion order with Philly Shipyard for the construction of three new 3,600 TEU Aloha Class containerships.The first vessel is expected to be delivered in the fourth quarter of 2026 with subsequent deliveries in 2027.Matson, which aims to achieve a 40% reduction in Scope 1 fleet emissions by 2030 and net-zero Scope 1 by 2050
A lawmaker in the Philippines has reintroduced legislation to prevent maritime and airspace encroachment by Chinese vessels, by restricting them to designated sea lanes and air routes and prescribing jail time for captains or vessel owners.The Philippines has complained repeatedly about Chinese activities in its 200 mile (322 km) exclusive economic zone (EEZ)
Claus Gronborg has been appointed CEO of Maersk Product Tankers – one of the largest product tanker owners in the world.Gronborg takes over the leadership of Maersk Product Tankers on October 1 from Christian M. Ingerslev. Gronborg will remain Chief Investment Officer of Maersk Tankers and a member of the executive team.
German container shipping group Hapag-Lloyd announced it has begun a comprehensive five-year fleet upgrade program to improve the energy efficiency of ifs containership fleet. The program will require an investment "in the three-digit million range", Hapag-Lloyd said.The company said at least 86 of its ships will be equipped with new and more efficient propellers.
Asset manager Atlas Corp said on Thursday it received a takeover offer from consortium group Poseidon Acquisition Corp in an all-cash deal for $3.64 billion.Poseidon, which comprises Atlas' board chairman David Sokol, affiliates of Canadian investment company Fairfax Financial Holdings Ltd, the Washington Family, and Japanese shipping company Ocean Network Express Pte Ltd
U.S. private equity firm Cerberus will acquire for $300 million a debt-laden shipyard in the Philippines at a former U.S. navy base close to the South China Sea, the facility's trustee and two sources with knowledge of the deal said on Tuesday.The fate of the strategically located Subic Bay shipyard has been a national security concern for defense chiefs
Yemen's Houthi movement has signed an agreement with the United Nations to deal with a decaying oil tanker threatening to spill 1.1 million barrels of crude oil off the war-torn country's coast, a Houthi official said.U.N. aid chief Martin Griffiths said last month that there was an agreement in principle to shift the oil from the tanker Safer to another ship. He gave no timeline.
Shipping group Maersk will temporarily halt all container shipping to and from Russia in response to Western sanctions on Moscow following its invasion of Ukraine, the company said on Tuesday.The move follows similar decisions by Singapore-headquartered Ocean Network Express (ONE), Germany's Hapag Lloyd HLAG.DE and Swiss-based shipping group MSC.
An oil production and storage vessel exploded off the coast of Nigeria early on Wednesday with 10 crew members on board though it was not yet clear if there were any casualties or how much crude might have spilled into the sea.Nigeria's Shebah Exploration & Production Company Ltd (SEPCOL) said on Thursday that flames had engulfed the Trinity Spirit floating production, storage
Tanker shipping company Hafnia on Thursday announced it has completed its acquisition of 32 product/chemical tankers from Chemical Tankers and 12 LR1 tankers from Scorpio Tankers.Singapore-headquartered Hafnia, created through a merger between Hafnia Tankers and BW Tankers in 2019, now has an owned fleet of 152 vessels and commercially managed fleet of 242 vessels.