A.P. Moller-Maersk expects strong demand for shipping goods around the world to continue in the coming months, but sees no return to sailing through the Suez Canal until 2025 due to the threat of Red Sea attacks. Attacks on vessels in the Red Sea by Iran-aligned Houthi militants have disrupted a shipping route vital to …
Maersk sees no Suez Canal return until ‘well into 2025’ due to Red Sea threat Read More »
Great Eastern Shipping Company (G E Shipping) said that it has entered into a contract to sell its 2005-built medium range product tanker Jag Padma of about 47,999 dwt to an unaffiliated third party. The vessel will be delivered to the new buyer by Q3 FY25, the company added. Including Jag Padma, companys current fleet …
G E Shipping enters into contract to sell medium range product tanker Jag Padma Read More »
Asia’s fuel oil markets continued to see a flurry of spot activity in the trading window on Friday amid higher cash premiums, though the November-December swaps backwardation reflected cautious expectations among traders. Prompt 380-cst market fundamentals could still be supported by ongoing demand from the bunker and feedstock markets amid low stockpiles in the West, …
Asia Fuel Oil-Upbeat spot activity; markets cautious on Dec fundamentals Read More »
In a joint statement released today, European Shipowners and European green transport group Transport & Environment (T&E) call upon EU leaders to prioritise clean fuel production as part of the upcoming Clean Industrial Deal. The Draghi Report estimates that €40 billion in annual investments will be needed between 2031 and 2050 for the energy transition …
Kalmar’s interim report January–September 2024: Record-high profitability in the third quarter Trading in Kalmar’s class B shares commenced on 1 July and the last demerger milestones including system separations were finalised in early September The comparable operating profit margin amounted to 13.5 (13.2) percent in the third quarter, presenting a record-high profitability on lower sales …
Yesterday, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued an OFAC Compliance Communiqué: Sanctions Compliance Guidance for the Maritime Shipping Industry designed to aid maritime sector stakeholders in (1) identifying certain new or common fact patterns that may be indicative of sanctions evasion, (2) addressing common counterparty due diligence issues, …
Enhancing Compliance in the Maritime Shipping Industry Read More »
Patsadas will lead global chartering from TGP’s office in Rotterdam, the Netherlands. Paddock Wood, United Kingdom, Friday 1st November 2024: Trans Global Projects (TGP) has appointed Panos Patsadas as Global Chartering Manager. Patsadas brings over 17 years of international shipping experience to the role, further strengthening TGP’s capabilities across key shipping sectors including breakbulk, heavy …
Panos Patsadas Joins Trans Global Projects As Global Chartering Manager Read More »
China’s marine economy made steady progress in the first three quarters of 2024, the Ministry of Natural Resources said on Thursday. According to preliminary calculations, China’s gross ocean product grew 5.4 percent year on year to 7.7 trillion yuan (about 1.08 trillion U.S. dollars) in the first three quarters. The country’s marine transportation industry continued …
China’s marine economy makes steady progress in Q1-Q3 Read More »
Gremex Shipping S.A. de C.V., a Mexican corporation that managed several ships, including the M/V Suhar, pleaded guilty and was sentenced today in federal district court in Pensacola, Florida, for creating and providing false records to the U.S. Coast Guard to conceal its illegal discharge of oily bilge waste into the ocean, which is a …
La Armada de Colombia, la Dirección General Marítima, la Aeronáutica Civil y la Unidad Nacional para la Gestión del Riesgo (UNGRD), desarrollaron en Cartagena, el primer simulacro de Búsqueda y Salvamento Marítimo (SAR, por sus siglas en inglés), en el que se rescataron 250 personas, a bordo de una aeronave que cayó al mar, lo …
