A fire onboard the Singapore-registered container ship Wan Hai 503 has erupted earlier on Monday off India’s Kerala coast, the Maritime and Port Authority of Singapore (MPA) reported, injuring several crew members and leaving four unaccounted for as Indian Coast Guard and Navy launch search and rescue operations.The incident occurred on June 9, 2025 at about 12.
The UK Marine Accident Investigation Branch (MAIB) has released its interim report on the foundering of the Bayesian, saying the yacht may have been vulnerable to high winds and that such winds may have been evident at the time of the accident.On 19 August 2024, the UK registered large sailing yacht Bayesian foundered in high winds 0.5 nautical miles south-east of the port of Porticello, Italy.
Russia may be forced to reduce its oil production in the coming months as U.S. sanctions restrict access to tankers needed for exports to Asia, while Ukrainian drone attacks continue to damage key refineries.Last month, the U.S. imposed sanctions targeting 180 Russian tankers, coinciding with an escalation in Ukrainian drone strikes aimed at strengthening Kyiv’s bargaining position.
Dry bulk contracting falls 70% below average amid low rates.“Over the past three months, dry bulk newbuilding contracting has been 70% below the yearly average. Declining freight rates in recent months, a cloudy outlook and high newbuilding prices contributed to the slowdown, and contracting in 2024 will likely fall short of 2023 levels,” says Filipe Gouveia, Shipping Analyst at BIMCO.
A U.S. judge approved on Friday a $102 million settlement by the companies that owned and operated the ship that struck Baltimore's Francis Scott Key Bridge in March, killing six people.The payment, approved by U.S. District Judge James Bredar, resolves the U.S. government's claims after the Justice Department filed a civil claim in September seeking $103 million from two Singaporean companies
U.S. East Coast and Gulf Coast ports began reopening late on Thursday after dockworkers and port operators reached a wage deal to settle the industry's biggest work stoppage in nearly half a century, but clearing the cargo backlog will take time.The strike ended sooner than investors had expected, weakening shipping stocks across Asia on Friday as freight rates were no longer expected to surge.
The negative impact on maritime shipping and global supply chains from attacks in the Red Sea continues to intensify as traffic is rerouted away from the Suez Canal, Danish shipping company A.P. Moller-Maersk said on Thursday.Attacks in the Red Sea by Iran-aligned Houthi militants have disrupted a route vital to east-west trade, with prolonged rerouting of shipments
One of the world’s leading LNG project developers New Fortress Energy (NFE) has completed the first cargo load and sail operation from its floating liquefied natural gas (FLNG) unit offshore Altamira in Mexico.The first cargo has been loaded onto the Energos Princess LNG carrier and will be delivered to NFE’s La Paz terminal.
A marine tanker carrying industrial fuel sank in rough seas off the Philippines on Thursday, causing the death of a crew member and an oil spill that could spread to waters off the capital Manila, officials said.Sixteen of the 17 crew members of MT Terra Nova have been rescued, Transportation Secretary Jaime Bautista said, after the ship capsized off the coastal town of Limay in Bataan province.
A marine tanker carrying industrial fuel sank in rough seas off the Philippines on Thursday, causing a large oil spill as coast guard rescuers search for a missing crew member, officials said.Sixteen of the 17 crew members of MT Terra Nova have been rescued, Transportation Secretary Jaime Bautista said, after the ship capsized off the coastal town of Limay in Bataan province.
Royal Boskalis B.V. on Monday announced it has reached a deal to take full ownership of marine services and towage provider Smit Lamnalco, after another deal for the company to be acquired by Spain’s Boluda Group fell through.Dutch dredging contractor and marine services firm Boskalis, which has held a 50% stake in Smit Lamnalco alongside joint owner Saudi Arabia's the Rezayat Group since 1964
The prices for newbuild vessels have risen to their highest level in 16 years, according to latest figures from shipping association BIMCO.“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2020 they are up 53%.