05 DEC 2023 A failure to follow recommended maintenance procedures, or possibly a perceived shortcut in the process, is believed to have caused a fire that resulted in $1.2 million in damage and disabled a 46,700 dwt product tanker while she was maneuvering within the confines of a shipping channel. …
Read More »2024 COULD BE “EVEN MORE BRUTAL” FOR CONTAINER CARRIERS WARNS XENETA
04 DEC 2023 The handwriting has been on the wall for some time with analysts warning that the container shipping segment was facing a prolonged period of hard times brought on by falling volumes, oversupply, and declining rates. Widely followed indicators such as the Drewry World Container Index have continued …
Read More »MULTIPLE COMMERCIAL VESSELS ATTACKED IN RED SEA
04 DEC 2023 Three commercial vessels came under attack in international waters in the southern Red Sea, the U.S. military said Sunday, as Yemen’s Houthi group claimed drone and missile attacks on two Israeli vessels in the area. The Carney, an American destroyer, responded to distress calls and provided assistance following missile …
Read More »FIVE CEOS CALL FOR REGULATORY PARTNERSHIP AND END TO FOSSIL FUEL SHIPS
03 DEC 2023 The CEOs of five of the world’s largest shipping companies took the unusual step of joining together to outline a shared vision to accelerate the decarbonization of the global maritime industry. Timed to the conclusion of the UN’s COP 28 conference in Dubai, the executives of CMA …
Read More »THE GREAT SUEZ CANAL RENAISSANCE
02 DEC 2023 Why trade is shifting to the US East Coast Ports via the Suez Canal The tectonic plates of world trade are shifting. Southeast Asia’s replacement of China as the world’s manufacturing powerhouse has enormous implications for international shipping routes, ports, and supply chains – particularly in the …
Read More »UK MAIB: WATCH OFFICER WAS SLEEPING AND LIKELY DRUNK AS CARGO SHIP GROUNDS
01 DEC 2023 The UK Marine Accident Investigation Branch (MAIB) issued a damming report today investigating the 2021 grounding of a cargo vessel on the west coast of Scotland. They identify issues including the fact that the watch officer was likely drunk and sleeping when the vessel grounded as well …
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