The Indian Navy on Friday rescued the crew of a merchant vessel after its attempted hijack in the Arabian Sea and said it had not found any pirates on board.An Indian Navy warship intercepted the Liberian-flagged MV Lila Norfolk bulk carrier less than a day after it had received a report that the vessel had been hijacked about 460 nautical miles off Somalia.
A resolution to end a dispute between Peru and China's Cosco Shipping could come as soon as this week to ensure a megaport will start operations as planned by the end of the year, Peru's Prime Minister Gustavo Adrianzen said on Thursday.The Peruvian port authority said in Marchit hoped to annul its decision granting exclusivity of the port's operations to Cosco, citing an "administrative error.
Oman's state-owned logistics firm Asyad Group is planning an initial public offering (IPO) of its subsidiary Asyad Shipping Co by the end of the year and has selected Jefferies Group and EFG Hermes as advisers, sources familiar with the matter said.Asyad Group, EFG Hermes and Jefferies declined to comment when contacted by Reuters on Thursday about the IPO plans.
In the first quarter of 2024, global iron ore shipments rose 3.8% y/y on expectation of strong Chinese steel production which, however, failed to materialise. Iron ore supply has grown faster than Chinese demand which could lead to weaker shipments ahead, says Filipe Gouveia, Shipping Analyst at BIMCO.
The U.S. government said it is spending more than $7 million a year to maintain a superyacht it seized from a sanctioned Russian oligarch, and urged a judge to let it auction the vessel before a dispute over its ownership is resolved.Authorities in Fiji seized the 348-foot (106-meter), $300 million Amadea in May 2022, pursuant to a U.S.
A ship with supplies for Canadian miner First Quantum's unit in Panama was unable to dock as local boats blocked off access to the key port, the company said in a statement to Reuters on Friday.Protests have escalated in recent weeks against the miner's contract for a major copper mine operated by the company's local unit, known as Minera Panama.
A feasibility study has highlighted the potential for using clean ammonia to refuel ships, particularly iron ore carriers, visiting the Pilbara region of Western Australia.The study, commissioned by Yara Clean Ammonia (Yara) and Pilbara Ports, was undertaken by Lloyd's Register, and looked at key areas including the estimated demand and likely availability of ammonia as a replacement shipping