Business

24 JUN 2019 The cost of insuring Middle East oil shipments is soaring as tensions mount in a region responsible for about a third of all seaborne petroleum. So-called war risk premiums for a standard oil cargo from the Persian Gulf and the tanker hauling it can now cost upwards …

26 jun 2019 On Monday, the U.S. Supreme Court ruled against a seafarer who sought punitive damages from his employer after a hatch blew open and injured his hand, finding that punitive damages – that is, extra money awarded to the plaintiff as an additional punishment for the defendant – …

25 jun 2019 The world will never see fully autonomous transoceanic commercial cargo ships. In fact, autonomous vessels are likely to operate in only very limited situations. In recent years, the prospect of fully autonomous vessels has become a hot topic for commercial shipping. The same fast-paced advances in technology …

24 JUN 2019 The WTO’s 21st Monitoring Report on G20 trade measures issued on June 24 shows a continuation of record high trade restrictions. The trade coverage of new import-restrictive measures introduced during the period (October 2018 to May 2019) was more than 3.5 times the average since May 2012 …

23 JUNE 2019 China’s Dalian Shipbuilding Industry (DSIC) has delivered what local media are calling the first smart tanker in the world. The 300-meter, 308,000dwt VLCC, New Journey, has assisted autopilot navigation, intelligent cargo management and integrated energy efficiency management, among other functions. The vessel was delivered to China Merchants Energy …

22 JUN 2019 For the latest tale of the unexpected from medical emergency rooms, we bring you the case of a 66-year-old man who turned up at the hospital complaining of a cough and chest pains. Soon enough, doctors realised the patient’s internal organs were all on the wrong side of his …

21 JUN 2019 By Jeremy Hodges (Bloomberg) –The U.K. will generate more energy from low-carbon sources than from fossil fuels this year for the first time since the Industrial Revolution. Wind, solar, hydro and nuclear plants provided 48% of the nation’s electricity in the first five months of 2019, according …

19 JUN 2019 By Gavin van Marle in Rotterdam (The Loadstar) – Shipper opposition to deepsea liner shipping alliances may be dangerously misplaced, delegates at the TOC Container Supply Chain event in Rotterdam heard yesterday. Lars Jensen, chief executive and partner of SeaIntelligence Consulting, said efforts by some to bar …

18 JUN 2019 Federal authorities have seized approximately 16.5 tons of cocaine from a ship at the Port of Philadelphia, the U.S. Attorney’s Office for the Eastern District of Pennsylvania tweeted Tuesday. The drugs were seized on a ship at the Packer Marine Terminal on the Delaware River. The U.S. …

17 JUN 2019 The K-Line car carrier Diamond Highway has been abandoned in the South China Sea after a fire broke out on board the vessel late Sunday (16TH June) night, according to reports. A Philippine Coast Guard spokesperson confirmed to media that the Panamanian-flagged Diamond Highway caught fire as it was …