SHIPPING NEWS
After a stop in Cuba, 2 Russian ships dock in Venezuelan port as part of 'show the flag' exercises
Two Russian naval ships, the frigate Admiral Gorshkov and the oil tanker Akademik Pashin, have docked in Venezuela's La Guaira port after conducting exercises in the Atlantic Ocean and a previous stop in Cuba. The visit, part of Russia's efforts to assert its naval presence in remote oceanic regions, underscores the strong ties between Moscow and Venezuelan President Nicolas Maduro's government. This move follows a pattern of close relations established by Maduro's predecessor, Hugo Chavez, and comes ahead of upcoming elections in Venezuela. The presence of Russian vessels has drawn attention amidst ongoing global geopolitical tensions.
DSV, CVC seen as lead contenders for Schenker after Maersk drops
DSV and CVC emerge as top contenders for DB Schenker after Maersk exits. The potential deal could reshape Euro logistics, with Deutsche Bahn aiming to modernize operations through the sale.
Global sea transport leaps most since 2010 after Red Sea attacks
Global sea transport sees a surge in activity due to geopolitical disruptions and attacks in the Red Sea. Vessels reroute to avoid conflict zones, impacting carbon emissions.
Suspected Houthi attack targets a ship in the Gulf of Aden, while Iraqi-claimed attack targets Eilat
Early Wednesday, a suspected missile attack by Yemen's Houthi rebels targeted a ship in the Gulf of Aden. Concurrently, an Iraqi militant group allied with the Houthis claimed responsibility for a drone attack on the southern Israeli port city of Eilat. These incidents mark an ongoing escalation linked to the Israel-Hamas conflict in Gaza, as well as tensions involving Yemen's internal politics.
Dali cargo ship leaves Baltimore for Virginia, nearly 3 months after bridge collapse
Dali to off-load cargo containers at Virginia International Gateway before heading to Norfolk International Terminal for salvage and repairs.
Taiwan detects 15 Chinese military aircraft, 6 naval ships around nation
The Ministry of National Defense reported 15 Chinese military aircraft and six naval vessels near Taiwan over the weekend. Eight aircraft crossed the Taiwan Strait median line into Taiwan's air defense identification zone. Taiwan responded by deploying aircraft, naval ships, and coastal missile systems to monitor the activity. This adds to a pattern of increased Chinese military presence around Taiwan, with 301 aircraft and 183 naval/coast guard vessels tracked this month alone. China's actions are part of its strategy to assert sovereignty over Taiwan.
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Ship attacked by Yemen's Houthi rebels in fatal assault sinks in Red Sea in their second sinking
A bulk carrier sank in the Red Sea days after an attack by Yemen's Houthi rebels, who are believed to have killed one mariner on board. The sinking of the Tutor marks an escalation in the Houthis' campaign targeting Red Sea shipping, despite ongoing U.S.-led efforts to halt the attacks. The attack, using drone boats, highlights the ongoing conflict in the region. The shipping industry has condemned the attacks, calling for them to stop immediately. Meanwhile, the Houthis claim that U.S.-led airstrikes targeted areas in Yemen under rebel control.
Yemen's Houthi rebels launch boat-borne bomb attack against Greek-owned ship in Red Sea
Yemen's Houthi rebels launched a boat-borne bomb attack in the Red Sea targeting a commercial ship near the USS Laboon, amid a US-led campaign to safeguard the waterway.
Taiwan detects 10 Chinese ships, six military aircraft around nation
Taiwan's Ministry of National Defence detected Chinese military aircraft and naval vessels. Grey zone tactics used by China around Taiwan have increased tensions since Lai Ching Te became the new President of Taiwan. Taiwan responded by deploying aircraft, navy ships, and coastal-based missile systems to monitor PLA activity. Tensions between China and Taiwan remain high.
Container shortage is shipping’s Achilles’ heel
An initial surge in freight prices — prompted by ships taking the much longer route around the Cape of Good Hope — petered out in March, yet prices have now surged even higher.
What happened on the Royal Caribbean's 'New Icon of the Series' ship? Did a passenger go missing?
A passenger who went missing was found and it brought relief to fellow passengers who assumed that he was doing well. Little did they know that he was brought dead.
Escalating emissions: How Red Sea disruptions are driving up carbon emissions
Many companies had already revamped their supply chains as they navigated COVID-19 disruptions, extreme weather risks, trade protectionism that forced them to change suppliers, and rising freight costs.
Is China- Taiwan War imminent? Taipei scrambles fighter jets after being surrounded by Chinese ships. What will US do?
In a military exercise by China, Taiwan and some islands controlled by it have been surrounded raising the specter of war. However, conflict is unlikely in this situation.
ABS Marine Services shares list at 100% premium over issue price
ABS Marine Services Share Price: ABS Marine Services' shares made a remarkable debut on the NSE SME platform on Tuesday, opening at Rs 294 per share, which was a 100% premium over the issue price of Rs 147 per share. Prior to its listing, the company's shares were trading in the unlisted market with a premium of Rs 100.
French shipping giant expects slump in cargo rates
CMA CGM SA anticipates lower ocean freight rates as new vessel deliveries boost capacity impacted by ship diversions to avoid the Red Sea conflict.
Corporate actions this week: SBI, Tata Consumer Products to go ex-dividend, Bharat Dynamics ex-split & more
This week, SBI, Colgate-Palmolive (India), Oberoi Realty, Tata Consumer Products, and Sula Vineyard will go ex-dividend. Bharat Dynamics and Som Distilleries Breweries & Wineries will undergo a stock split, with other companies also set for corporate actions such as bonus issues and rights issues. On May 24, Tata Consumer Products (Rs 7.75/share), and Vedanta (Rs 11/share) will trade ex-dividend.
Taiwan detects Chinese incursion with aircraft and vessels around nation
Taiwan's Ministry of National Defence detected Chinese aircraft and PLAN vessels around Taiwan, with one aircraft crossing into Taiwan's ADIZ. Taiwan's Armed forces responded amid tensions with China, as reported by Taiwan News in the Taiwan Strait.
Reliance faces many hurdles in getting crucial crude delivered as global market struggles
Reliance Industries Ltd., India’s largest private refiner, faces challenges in getting shipments of heavy crude delivered due to sanctions and OPEC+ cuts. To secure needed barrels, it purchased 2 million barrels of Canada’s Access Western Blend crude, embarking on a complex journey involving ship-to-ship transfers and a long voyage to India via the Pacific.
Taiwan detects 27 Chinese aircraft, seven vessels near its airspace, water
Taiwan detected 27 Chinese aircraft and seven naval vessels around the Taiwan Strait amid growing tensions with China. The Ministry of National Defence reported incursions into Taiwan's airspace. Beijing's reunification intentions heightened geopolitical tensions. Taiwan News linked the activities to Nancy Pelosi's visit. Grey zone tactics by China and Taiwanese Armed Forces responses have raised concerns.
Cargo ship that caused Baltimore bridge collapse had power blackout hours before leaving port
Investigators attribute the March collapse of Baltimore's Francis Scott Key Bridge to the cargo ship Dali's electrical blackout, caused by a crewmember's mistake during maintenance. The ship lost power shortly after leaving the port, crashing into a bridge support. The National Transportation Safety Board conducts a comprehensive investigation, expected to last over a year. Meanwhile, the FBI initiates a criminal inquiry into the incident.
Shipping is a dirty business. Cleaning it up is lucrative
HD Hyundai Marine's successful IPO attracted investors' attention by doubling stock value. It aims to provide eco-friendly solutions and expand globally in the maritime industry.
India expects long-term arrangement with Iran on Chabahar port: Foreign Minister S Jaishankar
India is poised to establish a "long-term arrangement" with Iran regarding the management of the Chabahar port, according to External Affairs Minister S. Jaishankar. This move, occurring amidst a busy election season, is seen as a significant geopolitical initiative aimed at enhancing regional connectivity. The port development in Chabahar is crucial for India's plans to facilitate trade with Afghanistan and Central Asian countries while bypassing Pakistan's ports.
Great Eastern Shipping Company Q4 Results: Net profit rises 25% YoY to Rs 905 crore
The company's consolidated revenues during the quarter under review also rose to Rs 1,726.25 crore from Rs 1,550.27 crore in the year-ago period. The company's total expenses declined during the quarter to Rs 784.66 crore from Rs 853.22 crore in the year-ago period.
Yemen's Houthis say they will target ships heading for Israel anywhere within range
Yemen's Houthis threaten Israeli port-bound ships, launching strikes in key maritime routes. Shippers reroute cargo due to security fears amid Gaza conflict, with concerns of Middle East destabilisation.
An Adani project will put India on global maritime map
India's ambition to be a manufacturing powerhouse got a boost with Adani Group's Vizhinjam Port in Kerala getting approval to operate as India's first transshipment port. The port's strategic location between the Suez Canal and the Strait of Malacca will enhance India's global sea trade presence, attracting ultra-large container vessels and boosting container traffic.
Taiwan detects 21 Chinese military aircraft, 7 naval ships encircling it
According to Taiwan's Ministry of National Defence, of the 21 People's Liberation Army (PLA) aircraft, 14 crossed the Taiwan Strait median line, adding that three entered the southwest corner of Taiwan's Air Defence Identification Zone (ADIZ) and two were detected in the northeast ADIZ.
New Titanic ship to see no shortage of lifeboats? Here's all you need to know
The word Titanic is doomed by accidents and loss of lives and thus the new model of Titanic will be furnished with innumerable number of lifeboats onboard so that passengers stay safe
Iran-Israel war: Will the weekend blasts push the Middle East into a wider conflict ? Know what can happen
Middle East conflict escalates as Iran has attacked Israel. Israel's retaliation plans now remain uncertain but it poses risks of wider conflict and economic impact. An escalation will create inflationary pressures in the global economy.
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