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OFAC Adds Multiple Shipping Entities and Two Vessels to SDN List in Iran-Linked Sanctions Update
Shipping
May 13, 2025
From 
Mike Schuler
 via 
gCaptain

OFAC Adds Multiple Shipping Entities and Two Vessels to SDN List in Iran-Linked Sanctions Update

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has expanded its Specially Designated Nationals (SDN) List to include several maritime entities and vessels linked to Iranian...
Carriers Roll Out Rate Increases Amid US-China Tariff Pause
Shipping
May 13, 2025
From 
The Loadstar
 via 
gCaptain

Carriers Roll Out Rate Increases Amid US-China Tariff Pause

After the US and Chinese governments agreed to slash reciprocal tariffs, shipping lines are expecting an early peak season on the transpacific eastbound trade, and have announced surcharges of $1,000-$2,000 per 40ft, said container shipping consultancy Linerlytica today.
Crowley Expands Caribbean Service with Second LNG-Powered Containership
Shipping
May 13, 2025
From 
Mike Schuler
 via 
gCaptain

Crowley Expands Caribbean Service with Second LNG-Powered Containership

Crowley has launched its second LNG-powered containership in the Avance Class fleet, expanding its ocean shipping capabilities in the Caribbean Basin. The vessel, named Copán after a significant Mayan archaeological...
India Approves More Russian Insurers to Provide Marine Cover
Shipping
May 13, 2025
From 
Reuters
 via 
gCaptain

India Approves More Russian Insurers to Provide Marine Cover

India has approved three Russian insurers, including a unit of top lender Sberbank, to provide marine cover to ships arriving at Indian ports, a government notification shows, helping Moscow maintain oil supplies to a key market.
Egypt’s Suez Canal Offers 15% Discount For Big Container Ships to Win Back Trade
Shipping
May 13, 2025
From 
Reuters
 via 
gCaptain

Egypt’s Suez Canal Offers 15% Discount For Big Container Ships to Win Back Trade

Egypt's Suez Canal will offer a 15% discount on transit fees for container ships with net tonnage of at least 130,000 metric tons, to encourage trade back now the security situation has eased and help ships offset rising insurance costs, its authorities said on Tuesday.
China-US Truce Prompts Price Jump in Pacific Shipping Frenzy
Shipping
May 13, 2025
From 
Bloomberg
 via 
gCaptain

China-US Truce Prompts Price Jump in Pacific Shipping Frenzy

A China-US deal to slash trade tariffs is set to push freight rates higher, as companies rush to use a 90-day grace period to ferry goods across the Pacific Ocean.
Coast Guard Eases Reflag Rules to Bolster U.S. Flag Fleet
Shipping
May 12, 2025
From 
Mike Schuler
 via 
gCaptain

Coast Guard Eases Reflag Rules to Bolster U.S. Flag Fleet

The U.S. Coast Guard has announced significant changes to streamline the certification process for foreign vessels seeking to join the American Registry. The updated Navigation and Vessel Inspection Circular (NVIC)...
Container Shipping: Tariff Truce Sets the Stage for Early Peak Season
Shipping
May 12, 2025
From 
Mike Schuler
 via 
gCaptain

Container Shipping: Tariff Truce Sets the Stage for Early Peak Season

The traditional peak season for ocean container shipping between China and the United States could arrive earlier than usual this year following a significant reduction in tariffs between the world’s...
French Shipping Giant Hails US-China Deal After Freight Slumps
Shipping
May 12, 2025
From 
Bloomberg
 via 
gCaptain

French Shipping Giant Hails US-China Deal After Freight Slumps

Rodolphe Saade, Chief Executive Officer of CMA CGM SA, the world’s third-largest container carrier, hailed a truce in the trade war between Washington and Beijing.
Ocean Shipping Firm Hapag-Lloyd Welcomes China-US Tariff Reprieve
Shipping
May 12, 2025
From 
Reuters
 via 
gCaptain

Ocean Shipping Firm Hapag-Lloyd Welcomes China-US Tariff Reprieve

German container shipping firm Hapag-Lloyd HLAG.DE on Monday welcomed an agreement between the United States and China to temporarily slash reciprocal tariffs, saying it expected to be buoyed by a resulting increase in bookings from China to the U.S.
E-Commerce Likely the Front-Runner in Resurge of Transpacific Trade After Deal
Shipping
May 12, 2025
From 
The Loadstar
 via 
gCaptain

E-Commerce Likely the Front-Runner in Resurge of Transpacific Trade After Deal

Trade flows – including ecommerce – are expected to restart on the transpacific after the initial new tariff agreement between the US and China. Talks over the weekend resulted in a huge reduction in tariffs – for 90 days.
Russia and China to Develop New Arctic Shipping Hubs, Putin Says During Xi Meeting
Shipping
May 12, 2025
From 
Malte Humpert
 via 
gCaptain

Russia and China to Develop New Arctic Shipping Hubs, Putin Says During Xi Meeting

Russia and China are looking to further expand their cooperation in Arctic shipping and energy projects, President Putin confirmed during a meeting with Chinese leader Xi in Moscow.