EU countries on Thursday reached a preliminary agreement to reduce greenhouse gas emissions in the maritime sector by increasing the use of renewable fuels on ships.The deal aims to put maritime transport on the path towards meeting the EU's climate goals in 2030 and 2050, by increasing reduction targets for emissions from energy used on ships and introducing measures to encourage the use of
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
Ship insurers said they are cancelling war risk cover across Russia, Ukraine and Belarus, following an exit from the region by reinsurers in the face of steep losses.Reinsurers, who insure the insurers, typically renew their 12-month contracts with insurance clients on Jan. 1, giving them the first opportunity to scale back exposure since the war in Ukraine started
North and South Korea exchanged warning shots off the west coast on Monday, accusing each other of breaching their maritime borders amid heightened military tension.The South's Joint Chiefs of Staff (JCS) said it broadcast warnings and fired warning shots to see off a North Korean merchant vessel that crossed the Northern Limit Line (NLL), the de facto sea boundary, at around 3:40 a.m.
Ukraine's decision to allow its seafarers to leave the country despite wartime restrictions will free up vital manpower for both Ukrainian grain exports and the wider global shipping industry, industry figures told Reuters.The move, officially confirmed this week, is part of efforts by Ukraine to maximize its grain shipments via a UN-brokered corridor through the Black Sea
Three grain ships left Ukrainian ports on Friday while the first inbound cargo vessel since Russia's invasion was due in Ukraine to load, as Kyiv called for the safe passage deal to be extended to other cargoes such as metals.The July 22 deal marked a rare diplomatic breakthrough as war rages in eastern Ukraine
The Biden administration on Thursday delayed the rollout of a proposed five-year offshore oil and gas development plan that had been promised by the end of the month, according to sources.Interior Department Secretary Deb Haaland in May had vowed to unveil the draft proposal ahead of the June 30 expiration of the current plan.
China launched its third aircraft carrier on Friday, the Fujian, named after the province opposite self-ruled Taiwan, sending a statement of intent to rivals as it modernizes its military.President Xi Jinping has made overhauling the world's largest armed forces a central part of his agenda, seeking to project power well beyond China's shores, though the government says it has no hostile intent.
A newly unveiled hydrogen-powered tanker concept aims to allow zero emission at berth, and up to 100% reduction of GHG emissions during voyage.The Hy-Ekotank concept, launched by TECO 2030 and partners Ektank AB, Shell Shipping and Maritime and DNV, would see fuel cells with compressed or liquid hydrogen storage retrofitted on existing Ektank vessels.
Iranian authorities seized a foreign ship attempting to smuggle fuel out of the country and detained its crew, state new agency IRNA said on Wednesday.Iran, which has some of the world's cheapest fuel prices due to heavy subsidies and the plunge in value of its national currency, has been fighting rampant fuel smuggling by land to neighboring countries and by sea to Gulf Arab states.
Taiwan has recovered two bodies after a ship carrying six South Koreans went missing in the Taiwan Strait, and search and rescue operations are underway, the Taiwanese and South Korean governments said on Friday.Taiwan authorities have said they received distress signals from the Kyoto 1 at around 9:50 a.m.
Food and medical supplies onboard over 100 foreign flagged ships stuck in Ukraine due to the conflict are running low, with little progress on creating a maritime corridor to allow them to sail away, industry officials said on Wednesday.London's marine insurance market has widened the area of waters it considers high risk in the region as the conflict intensifies and perils to merchant shipping