Insurers are about to pay state-owned Bangladesh Shipping Corporation (BSC) $22.48 million for its vessel that was hit by a missile during fighting in Ukraine, two officials involved said on Tuesday.The expected settlement is one of the first shipping claims to have been paid out since Russia invaded Ukraine on Feb.
At least one ship carrying Australian coal that was destined for China has been diverted due to uncertainty around Chinese customs policies following the easing of a ban on imports from Australia, according to traders and shiptracking data.The BBC Maryland, hauling about 12,000 tonnes of thermal coal from Australia's Newcastle terminal
Container freight rates will keep declining in the current realignment of shipping demand and supply, said the chief executive of Germany's liner Hapag Lloyd, the world's number five by transport capacity."The party is over. We are back to a normal shipping business," CEO Rolf Habben Jansen told reporters at a briefing late on Tuesday on the state of the market
The Port of South Louisiana (Port SL) said it has reached a deal with T. Parker Host to buy the Avondale Global Gateway, a logistics hub at site of the former Avondale Shipyard.The acquisition of this 254-acre facility at mile 108 of the Mississippi River will allow the port to be more competitive in traditional international trade and focus on the new frontier of renewable energy development
Declining world supply chain pressures are being challenged by new disruptions in China tied to the coronavirus pandemic, the New York Federal Reserve reported on Friday.The regional Fed bank's December Global Supply Chain Pressure Index ticked down to 1.18 from November's revised 1.23 reading.
Brazil's government will not proceed with the privatization of the port of Santos, the largest in Latin America, the incoming minister of ports and airports was quoted as saying on Thursday by a Brazilian newspaper.Marcio Franca, tapped to head the ministry in President-elect Luiz Inacio Lula da Silva's government, told O Estado de S.
German shipbuilder Meyer Werft on Thursday delivered the new cruise ship Arvia to British shipping company P&O Cruises. The sister ship of the Iona, built in 2020, also has low-emission liquefied natural gas (LNG) propulsion.At 185,000 tonnes, 345 meters in length with 16 guest decks, the newbuild can accommodate around 5,200 passengers in its 2,659 guest cabins.
Britain has selected a Harland & Wolff-led consortium to build three Royal Navy support ships under a 1.6 billion pound ($1.9 billion) contract that will create 1,200 jobs in UK shipyards, including in Belfast where final assembly will take place.The consortium, which comprises ship designer BMT, Harland & Wolff and Navantia UK
Workers at a Liverpool port, owned by Peel Ports Group, will go on strike from Monday for two weeks after talks with the port operating company broke down due to disagreements over increase in pay, UK's Unite union said on Friday.Peel Ports' board has continued to deny workers a pay rise while its profits soared, Unite said
Shell said on Friday it had loaded and shipped a cargo of liquefied natural gas (LNG) this week at its Prelude floating LNG facilityafter workers scaled-down industrial action at the site off northwestern Australia.The oil and gas giant slowed output at the 3.6-million tonne per year facility last week during a series of work stoppages by unions fighting for better pay and had warned that
A U.S. judge on Wednesday said the owner of an oil tanker must pay the United States $44.6 million over its role in a 2017 collision between the tanker with a U.S. Navy destroyer in southeast Asia that killed 10 sailors and injured dozens more.U.S. District Judge Paul Crotty in Manhattan found Energetic Tank Inc 20% responsible and the United States 80% responsible for the Aug.
North Kingstown, R.I. shipyard Senesco Marine said it has been selected by the Maine Department of Transportation to build a new hybrid-electric passenger vessel for the Maine State Ferry Service (MSFS).The 154-foot passenger-vehicle ferry, designed by Gilbert Associates, will be equipped with BAE Systems’ electric hybrid propulsion solution to deliver reduced and zero-emission operations