Five mariners were rescued by the crew of a U.K. Royal Navy patrol ship after their tug started to sink in rough seas last week in the Caribbean.The oceangoing tug began taking on water after suffering an engine failure some 20 miles west of Sint Maarten. The vessel's crew sent out a distress call around 1 p.m. on Friday and took refuge on the large sand barge their vessel had been towing.
Japanese insurers are expected to continue providing marine war insurance which covers the sinking and requisition of ships due to war in Russian waters after Jan. 1, the Nikkei daily said on Thursday.Japan's Tokio Marine & Nichido Fire Insurance, Sompo Japan Insurance and Mitsui Sumitomo Insurance told shipowners last Friday that from Jan.
The Port of Corpus Christi reports it set another tonnage record in the third quarter of 2022, driven in large part by record exports of crude oil.The new quarterly tonnage record of 48.3 million tons surpassed the previous tonnage record set in the second quarter of 2022 of 46.4 million tons, a 4% increase on overall tonnage.
COSCO Shipping Holdings Co Ltd said on Monday it has agreed to buy port assets from its parent for an aggregate 19.7 billion yuan ($2.7 billion) as it aims to build a global digital supply chain for its customers. The Chinese shipping group said it would buy 14.9% of Shanghai International Port (Group) from its indirect controlling parent China COSCO Shipping Corp Ltd for 18.
The president of a U.S. maritime trade group has slammed a decision by the Biden administration to approve a temporary Jones Act waiver for vessels shipping oil and other essential commodities to Puerto Rico in the wake of hurricane Fiona.“Granting of this waiver rewards calculated and predatory behavior that undermines a dedicated American supply chain for Puerto Rico
Like swallows arriving in the spring, a chorus for Jones Act waivers can reliably be anticipated to accompany the annual parade of hurricanes across the geographical region covered by the Act. The logic: emergency situations dictate maximum emergency relief, and the Jones Act is perceived to be an obstacle to providing that relief. That perception is wrong.
A bulk carrier that collided with an LNG tanker off Gibraltar started leaking fuel oil, authorities in the British overseas territory on the southern tip of the Iberian peninsula said on Wednesday.The collision on Tuesday forced the closure of the Gibraltar port for four hours. It was later fully reopened.
An LNG tanker and a bulk carrier have collided off Gibraltar, leaving the latter beached, authorities in the British overseas territory on the southern tip of the Iberian peninsula said on Tuesday.The collision forced the closure of the port for four hours, but it has fully reopened, authorities said, while booms were being deployed around the beached vessel to prevent any potential fuel spill.
The war in the Ukraine is stifling trade and logistics of the country and the Black Sea region, increasing global vessel demand and the cost of shipping around the world, the UN Conference on Trade and Development (UNCTAD) said. Container shipping and global value chains have been disrupted and many countries have had to look further afield for suppliers of oil, gas and grain.
India is providing safety certification for dozens of ships managed by a subsidiary of top Russian shipping group Sovcomflot, official data showed, enabling oil exports to India and elsewhere after Western certifiers withdrew their services due to global sanctions against Moscow.Certification by the Indian Register of Shipping (IRClass), one of the world's top classification companies
Singapore's Sembcorp Marine (Sembmarine) has agreed to a multi-billion dollar merger with Keppel Corp's larger offshore and marine unit, a year after the Temasek-backed firms began deal talks to cope with an industry downturn.The loss-making oil rig builders have been whiplashed by years of oversupply and oil price volatility as well as a drop in new orders.
Marine fuel sellers have stopped serving vessels flying the Russian flag at major European hubs including Spain and Malta in another blow to Moscow's exports, five industry sources with knowledge of the matter told Reuters.Losing access to refueling points in the Mediterranean Sea poses major logistical problems for Russian oil tankers going from Baltic ports to Asia and also creates safety