OFAC moves to stem flow of Iranian funding to Houthis As the Houthi attacks that began with the hijacking of the Galaxy Leader continue to disrupt Red Sea shipping, the U.S. is moving to stem the flow of the Iranian money that
Two seafarers injured in Black Sea mine explosion Ukraine's Southern Defense Forces report that two seafarers were injured when a Panama-flagged general cargo ship headed to load grain in a Danube port struck a Black Sea mine. The ship lost
The Business of Citizenship: Exploring Economic Citizenship Trends The world's changing, and so are people's approaches. No longer do we save money to cope with difficulties or survive an epidemic. We look for smart solutions and invest the money in a place that ensures our security, safety, and a better quality of life. This is where citizenship programs come into existence. Not only is it a solution for individuals looking for safe second homes, but it would a
Port Houston handles nearly 3.5 million TEUs in November Throughout November 2023, Port Houston managed nearly 3.5 million TEUs, reflecting a 5% decrease compared to the record volumes of the previous year. While loaded export TEUs for November experienced a 2% decline from the same period last year, the overall export performance for 2023 remained robust, witnessing a 9% increase compared to the previous year, totalling 1,268,034 TEUs year-to-date. Th
Integrating Time Attendance Software With Other HR Systems The integration of time attendance software into HR systems is crucial for enhancing operational efficiency and adapting to modern work models like remote and hybrid setups. This software has transitioned from basic time tracking to a crucial element in strategic HR management. With a market value of $2.7 billion in 2022 , time attendance software has gained expanding significance in the business
JERA and PT Pertamina seal Memorandum of Understanding JERA, one of the largest power companies in the world and PT Pertamina (Persero), Indonesia's largest state-owned oil and natural gas company, announced the inking of a Memorandum of Understanding (MoU) to partner on business opportunity discussion and potential collaboration. The signing ceremony occurred within the framework of the ASEAN-JAPAN Economic Co-Creation Forum, serving as a pertinent
Mawani, MEDLOG start construction works on US$40 million logistics park in Saudi Arabia Saudi Ports Authority (Mawani) and MEDLOG, MSC's logistics arm, commenced works on the 100,000 m² integrated Logistics Park at King Abdulaziz Port in Dammam, Saudi Arabia. The investment, exceeding US$40 million, aligns with Mawani's strategic goals, aiming to expand the number of logistics parks to 30, enhance the private sector's role in economic development, and support the National Transport
CMA CGM close to top spot in intra-Mediterranean CMA CGM is about to surpass Mediterranean Shipping Company as the largest intra-Mediterranean operator, according to Alphaliner. The French carrier has increased the number of ships and currently deploys much larger vessels in the Mediterranean compared to a year ago. Currently, CMA CGM operates 60 ships of over 96,000 TEUs in the intra-Mediterranean market, after adding six more vessels this yea
Former Chinese shipbuilding supremo jailed for 13 years Hu Wenming, the ex-chairman of state-run China Shipbuilding Industry Co (CSIC), has been handed a 13-year jail sentence as well as a $700,000 fine after authorities find him guilty of multiple graft charges over a 20-year period. Hu had been the most powerful man in China's shipbuilding industry. He started out from Aviation Industry Corporation ...
Italian liner files for liquidation Genoa-based liner Kalypso Compagnia di Navigazione has filed for liquidation. Israel's ongoing war with Hamas crippled the Italian containerline. A charter conflict broke out between Kalypso and Zhonggu Shipping with the Chinese tonnage provider refusing to allow its four 2,518 teu ships to call in Israel. The vessels had been deployed on Kalypso's Marco Polo service ...
US targets Houthi financial network supporting Red Sea attacks OFAC aims to restrict the illicit flow of funds to the Houthis, who continue to conduct dangerous attacks on international...
Ships issue armed guard warnings as industry weighs up Red Sea security dilemma While security experts question the efficacy of using armed guards as a deterrence against drone strikes or paramilitary attacks, ships...
Samudera buys two ethylene gas carriers for $12.6m Although few details of the agreement were announced, Lloyd's List Intelligence data shows only three Seapeak LPG carriers match the...
Ex-SembMarine executive and consultant acquitted in Brazil corruption case In 2020, both men were charged with money laundering. Cheah also faced corruption charges related to 2012 drilling rig contracts
Dry bulk: brief flurry of excitement looks over Futures markets pricing in sharp correction in January
Nearly 60 Maersk boxships heading back to Suez Canal despite Houthi threat Maersk seems largely unfazed by the recent attack on an MSC boxship. However, Hapag-Lloyd in its latest update said the transit...
A decade on, logistics industry still awaits proof that VC is a welcomed partner None of the most prominent venture-backed names in logistics has had a successful exit yet, but perhaps patience is still required before the industry can say for sure if venture capital is a worthy funding route for company founders.
Maersk signs pact to develop methanol bunkering at Japan's Yokohama port With around 130 methanol-enabled dual-fuel container ships on the water or on order, carriers have been scrambling to secure supplies of the green fuel.
Red Sea-linked sailing disruptions threaten Indian port flow gains As the impact of longer routings percolates through the supply chain, local industry sources expect a wave of void calls and/or alterations in Indian port rotations across various trade routes.
US targets Houthi money network behind shipping attacks Treasury officials sanction financier and three exchange houses in latest move against Iran-backed Yemeni regime
Two seafarers hurt as Greek-managed cargo ship hits Black Sea mine Countries plan clear-up operation after storms spread devices in region
Year Ahead: Marine insurance tipped to slow after 'supercycle' Both protection and indemnity and hull and machinery markets face an anticipated slowdown in 2024
Two seafarers hurt as Panama-flagged bulker hits Black Sea mine Countries plan clear-up operation after storms spread devices in region
Container market imbalance to continue despite rerouting of ships away from Suez Supply will still outstrip demand by 4% in 2024, says credit rating agency Fitch
Get onboard with automated underwriting, broker Gallagher urges marine market New AI systems allow 'follow' capacity to be allocated more quickly and efficiently
Sovcomflot tankers back in business after sanction delays Blacklisted vessels head to Chinese and Russian ports after weeks of inactivity following US financial sanctions
Red Sea crisis: Container ships and gas carriers bear brunt of Houthi disruption Bulkers and tankers have been much less affected so far, Clarksons figures show
Year Ahead: Things could get spiky for dry bulk in 2024 if vessel supply gets squeezed Dry cargo freight markets have shown themselves to be incredibly sensitive to changes in vessel supply
NYK Line plans to conduct longer-term biofuel bunker trials Move aims to address shortage of experience with regard to fuel compatibility with existing onboard machinery
Gulf Navigation buys out Turkish partner's 40% stake in maritime agency joint venture Shipowner says full ownership of Gulf Navigation Polimar Maritime will boost revenues and pave way for expansion
Venezuelan threat prompts Joint War Committee to declare Guyana a listed area Royal Navy warship heading to Guyana in show of support for Commonwealth nation
Shipping shares outpaced S&P 500 amid 2023's rising stock market Tanker stocks rose as expected in 2023, container shipping shares surprised to the upside, and dry bulk stocks lagged the pack.
Air cargo industry faced stress test in 2023 2023 was a tumultuous year for airfreight. The downturn in business put pressure on the industry, but the year ended with some optimism.
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