The superyacht that sank off Sicily last year, killing British tech tycoon Mike Lynch and six others, will be lifted out of the water next month after its mast is dismantled, people close to the matter said on Tuesday.The recovery of the British-flagged Bayesian, lying on its right side at a depth of around 50 metres (164 feet)
Nippon Yusen (NYK), Japan's largest shipping line, is concerned that U.S. President Donald Trump's tariffs could push up the cost of automobiles and daily goods, denting consumer demand and slowing cargo flows, its president said."The tariffs are not directly borne by consumers, but the burden ultimately falls on them, which in turn reduces the actual flow of goods.
When President Donald Trump sat down to lunch with his Japanese counterpart this month, talk turned quickly to how Tokyo could help realize a decades-old proposal to unlock gas in Alaska and ship it to U.S. allies in Asia.Trump and his energy tsar Doug Burgum framed the venture as a way for Japan to replace Middle East energy shipments and address its trade imbalance with the U.S.
The owners of a private island in the U.S. rely on vessel transport as a lifeline to the mainland. Their boat, used for carrying supplies and even supplying medevac support in emergency situations, must be able to run at any time, in all conditions.So when it came time for their existing vessel to be replaced
U.S. companies that rely on East and Gulf Coast seaports have been importing early, shifting goods to the West Coast, and even putting cargo on pricey flights to hedge against a threatened Oct. 1 strike that could jam supply chains and reignite inflation ahead of the U.S. presidential election.
Broker Marsh and Lloyd's underwriter Tokio Marine Kiln (TMK) have set up business interruption insurance for ports to provide cover against growing trade disruption risks such as threats to shipping in the Red Sea, executives involved said.Ports across the globe are dealing with multiple issues that are disrupting flows of goods
Initial examinations of four of the people killed when British tech tycoon Mike Lynch's family yacht sank off Sicily last month indicated they had died of suffocation as oxygen ran out on the stricken vessel, judicial sources said on Thursday.Lynch, his daughter Hannah, an onboard cook and four guests died when the Bayesian, a British flagged 56-metre (184-feet) superyacht
Crew members on Mike Lynch's yacht have spoken of the moments when a storm sank the vessel off Sicily and their efforts to help save passengers, after a disaster that killed the British tech tycoon and six other people.Matthew Griffiths, who was on watch duty on the night of the disaster two weeks ago
Italian prosecutors are investigating two more crew members from British tech tycoon Mike Lynch's yacht, along with its captain, in connection with the vessel's sinking over a week ago, a judicial source said on Wednesday.Being investigated does not imply guilt and does not mean formal charges will follow.
Royal Caribbean Group on Tuesday announced an agreement with Finnish shipbuilder Meyer Turku for the construction of up to three new Icon Class vessels—the world's largest cruise ships. The deal includes one firm order for scheduled delivery in 2027 plus options for two additional vessels.The U.S.
Shipowners in all sectors face the same decision: build new or refurbish older tonnage. In the booming cruise sector the decision is more pressing, particularly as new construction ships can take two to three years to build, perhaps longer today with global shipyard orderbooks packed full.
Finnish shipbuilder Meyer Turku on Monday delivered Mein Schiff 7 to German cruise line TUI Cruises.Mein Schiff 7 is the seventh ship of the Mein Schiff series built at the Turku shipyard. "Mein Schiff 7's symbolic start of production, the steel cutting ceremony, took place at our shipyard on June 14th, 2022," says Tim Meyer, CEO of Meyer Turku