Major carrier CMA CGM has announced its INDAMEX service will transit Suez Canal on fronthaul and backhaul voyages between India/Pakistan and US East Coast in a notable step towards a largescale return of container ships to the Red Sea region.The first vessel to complete a full service loop via Suez Canal will be CMA CGM Verdi, sailing from Karachi to New York on 15 January.
ZIM Integrated Shipping Services reported third-quarter 2025 earnings that, while sharply lower year-on-year, demonstrate the carrier’s ability to generate meaningful profit and cash flow in an increasingly volatile global container market. Revenues fell 36% to $1.78 billion as freight rates continued to normalize from 2024 highs, and net income dropped to $123 million, compared with $1.
German container shipping firm Hapag-Lloyd on Thursday posted a 50% drop in nine-month net profit to 846 million euros ($986.6 million) and lowered the top end of its full-year earnings outlook, citing market volatility and rising costs.The company narrowed its full-year earnings before interest and taxes (EBIT) forecast to between 0.5 billion and 1.
Despite significantly weaker freight rates, the average price for five-year-old container ships has increased 17% year-on-year and 6% since the beginning of 2025,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.The average per TEU price of a basket of seven five-year-old container ships was $9,761/TEU in late August 2024.
European defense giant Rheinmetall has signalled interest in taking over German shipbuilder Naval Vessels Luerssen, industry sources told Reuters on Wednesday, as the Duesseldorf-based firm looks to expand into the naval business.According to the Bild newspaper, which first reported Rheinmetall's plans, the supervisory board intends to consider the purchase in the coming weeks.
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.
By the time Robbie Roberge spotted the fire consuming his boat's galley last August, he knew he had just minutes to evacuate his beloved Three Girls fishing vessel, named for his daughters.As the flames spread up the boat's walls, he helped his crew into safety suits, deployed a life raft and made a mayday call to alert nearby mariners and the U.S.
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.
The offshore rig market recovery appears to have taken a pause, with demand tapering off and marketed utilization hitting the lowest levels recorded since recovery began in 2021. A variety of factors have contributed to this – including Saudi Aramco’s suspension of over 30 jackup contracts by up to one year, the entry of newbuild rigs into the market without work to go to
Beijing increased its tariffs on U.S. imports to 125% on Friday, hitting back against U.S. President Donald Trump's decision to hike duties on Chinese goods and raising the stakes in a trade war that threatens to up-end global supply chains.China's retaliation intensified the economic turmoil unleashed by Trump's tariffs
Venezuela's exports of crude oil and fuel fell 11.5% in March as Washington's imposition of secondary tariffs and the cancellation of key licenses to operate in the U.S.-sanctioned energy sector led to delays and cargo suspensions, according to ship tracking data and documents.U.S.
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.