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Arctic Shipping Boom Continues as China and Russia Push Cargo Volume To New Heights
Shipping
October 11, 2024
From 
Malte Humpert
 via 
gCaptain

Arctic Shipping Boom Continues as China and Russia Push Cargo Volume To New Heights

By Malte Humpert (gCaptain) – Arctic shipping continues to have a breakout year setting new records for transit traffic and container ship voyages. As of September 30, total transit cargo...
Russian Attacks Spark Surge in War Insurance for Ukraine Grain Ships
Shipping
October 10, 2024
From 
Bloomberg
 via 
gCaptain

Russian Attacks Spark Surge in War Insurance for Ukraine Grain Ships

By Áine Quinn and Alex Longley (Bloomberg) — The cost of insuring vessels that transit Ukraine’s shipping corridor in the Black Sea jumped this week after Russia ramped up attacks on...
Houthis Strike Tanker ‘Olympic Spirit’ in Red Sea
Shipping
October 10, 2024
From 
Mike Schuler
 via 
gCaptain

Houthis Strike Tanker ‘Olympic Spirit’ in Red Sea

CAIRO, Oct 10 (Reuters) – A Liberia-flagged tanker was struck twice with missiles and drones in the Red Sea on Thursday morning, in an attack claimed by Iran-aligned Houthi militants.  The Olympic Spirit...
Hyundai Heavy Industries Claims Zero-Carbon Ammonia Dual-Fuel Engine Breakthrough
Shipping
October 10, 2024
From 
Mike Schuler
 via 
gCaptain

Hyundai Heavy Industries Claims Zero-Carbon Ammonia Dual-Fuel Engine Breakthrough

South Korean shipbuilder HD Hyundai Heavy Industries has achieved a significant milestone in eco-friendly shipbuilding with the development of the world’s first zero-carbon ammonia dual-fuel (DF) engine. The groundbreaking engine...
Russian Strikes on Ukraine’s Ports and Ships Push Insurance Rates Up
Shipping
October 10, 2024
From 
Reuters
 via 
gCaptain

Russian Strikes on Ukraine’s Ports and Ships Push Insurance Rates Up

KYIV/LONDON, Oct 10 (Reuters) – A series of Russian missile strikes on Ukrainian Black Sea port infrastructure and commercial vessels has led to a jump in insurance costs and forced some shipowners to cancel...
Shipping’s New Normal: How Red Sea Diversions are Reshaping Global Trade
Shipping
October 10, 2024
From 
Lori Ann LaRocco
 via 
gCaptain

Shipping’s New Normal: How Red Sea Diversions are Reshaping Global Trade

(gCaptain) – The Red Sea diversions over the last year have shown trade is like water—it will always find a way to flow. The old adage “trade at rest is...
Geopolitical Volatility Fuels Surge in Tanker Rates
Shipping
October 9, 2024
From 
Barry Parker
 via 
gCaptain

Geopolitical Volatility Fuels Surge in Tanker Rates

With tensions in the Middle East ratcheting upward again, the tanker market is taking notice. In a weekly market opinion piece titled “Tankers in Turmoil” from New York-based broker Poten...
UK Government Introduces New Employment Rights Bill to Strengthen Seafarer Protections
Shipping
October 9, 2024
From 
Mike Schuler
 via 
gCaptain

UK Government Introduces New Employment Rights Bill to Strengthen Seafarer Protections

The UK government has unveiled a draft Employment Rights Bill aimed at enhancing protections for seafarers, a move welcomed by UK-based maritime union Nautilus International. The bill, set to be...
Singapore Bunker Standards for Methanol, Ammonia Expected by 2025
Shipping
October 9, 2024
From 
Reuters
 via 
gCaptain

Singapore Bunker Standards for Methanol, Ammonia Expected by 2025

SINGAPORE, Oct 9 (Reuters) – New standards for bunkering methanol and ammonia will be developed by 2024 and 2025 respectively, the Maritime and Port Authority of Singapore (MPA) said on Wednesday. The world’s largest...
Port of Montreal Dockworkers to Refuse Overtime Amid Stalled Labor Negotiations
Shipping
October 9, 2024
From 
Mike Schuler
 via 
gCaptain

Port of Montreal Dockworkers to Refuse Overtime Amid Stalled Labor Negotiations

The Port of Montreal faces potential disruptions as longshore workers prepare to refuse overtime starting Thursday. This labor action, announced by the Canadian Union of Public Employees (CUPE) Local 375,...
Court Blocks Top Africa Port Deal as Maersk Contests Award
Shipping
October 9, 2024
From 
Bloomberg
 via 
gCaptain

Court Blocks Top Africa Port Deal as Maersk Contests Award

(Bloomberg) — A South African court temporarily blocked a deal between the nation’s state-owned logistics firm and a company owned by Filipino billionaire Enrique Razon to expand and run sub-Saharan...
ESL Shipping Orders Four Green Methanol-Fueled Baltic Bulkers
Shipping
October 9, 2024
From 
Mike Schuler
 via 
gCaptain

ESL Shipping Orders Four Green Methanol-Fueled Baltic Bulkers

Helsinki-based ESL Shipping, the Baltic region’s leading dry bulk carrier, has announced a major investment in four new fossil-free handysize vessels to run on green methanol. The €186 million project...