News

Drewry’s weekly World Container Index (WCI) increased 41% to $3,527 per feu yesterday, the second highest leap dollars-wise since the index was created, with the busy transpacific leading the way once again amid a brief trade detente between the world’s two largest economies, the US and China. […]

The volume of ship traffic in the Red Sea has increased by 60% since August 2024, now reaching 36 to 37 ships per day. Despite the rebound, volumes remain well below pre-crisis levels, according to Rear Admiral Vasileios Gryparis, commander of the EU’s Aspides naval mission. Gryparis told Reuters […]

Efforts to bring the fire-stricken Morning Midas under control are facing a significant delay, with salvage teams not expected to reach the drifting vessel until Monday, nearly a full week after the crew abandoned ship. Zodiac Maritime, the manager of the Liberian-flagged car carrier, confirmed […]

Sagitta Marine managing director Thomas Zaidman argues why smaller shipowners are a necessary force – not a risk – in the market. The recent Geneva Dry conference saw shipowners converge in huge numbers to listen to panels on many matters of interest to the market across two days. Among them, […]

German shipowner Carsten Rehder Schiffsmakler und Reederei is further strengthening its ties with India’s Garden Reach Shipbuilders and Engineers (GRSE), signing a new memorandum of intent for four additional multipurpose (MPP) dry cargo vessels. The agreement, signed during the Nor-Shipping […]

Shandong Ocean Shipping Group is making strategic moves to bolster its dry bulk fleet by tapping into the domestic shipbuilding market. The maritime logistics subsidiary of Shandong Port Group has selected Hengli Shipbuilding for the construction of two 95,500 dwt vessels. The total value of the […]

The world’s largest shipping association, BIMCO, has begun drafting a standard clause to address legal and contractual uncertainties stemming from recent US trade policy developments. The move follows a notice of actions by the United States Trade Representative (USTR) to impose new fees on […]

Maritime tech experts discuss how to make sure ships spend less time in port in the latest installment from Ship Concept 2035, our brand new magazine. Any holistic report into how ships will operate in the future such as our brand new magazine, Ship Concept 2035, needs to look at the ports side of […]

Marine construction specialist Allseas has launched a five-year plan to design, develop, and deploy a small modular reactor tailored for both offshore vessels and onshore use.  Both uses have their benefits, as nuclear offers energy density with zero emissions and a stable, scalable power supply. […]

The Indonesian arm of Italian energy major Eni has exercised a well option for one of Ventura Offshore’s rigs. Ventura said that Eni Indonesia exercised the first of four optional wells in Indonesia for the 2012-built semisub SSV Catarina. The exercise of this first optional well is expected to […]