Oceans Store 10 Billion Tons of CO₂ Annually
Biological Carbon Pump Locks Away Carbon for 50 Years.
New Research Reveals Oceans’ Crucial Role in Climate Regulation.
Scientists Call for Protection of...
Brazil Expands Visa-waiver Policy for Chinese Seafarers
Brazil has expanded its visa-waiver policy for Chinese seafarers, now including those serving on vessels registered in China's special administrative regions—Hong Kong and Macau—as...
USCG Inspection Finds Hazardous Cargo at Puerto Rico Terminal
In February 2025, the U.S. Coast Guard suspended Puerto Nuevo Terminals' (PNT) permit to handle hazardous cargo in San Juan, Puerto Rico, after discovering...
CIMC Achieves Record Profit in 2024
China International Marine Containers (CIMC) reported impressive financial growth in 2024, with a 35.58% increase in revenue, reaching RMB 128.97 billion. Net profit surged...
Yang Ming Orders 3 Methanol Dual-fuel Container Ships
Yang Ming Marine Transport Corporation announced the purchase of three 8,000 TEU methanol dual-fuel-ready containerships from Shoei Kisen Kaisha, Ltd.
These vessels, being...
Fincantieri Lines Up 2 Cruise Ships Construction Order
Fincantieri and TUI have signed a Memorandum of Agreement (MoA) for the design and construction of two new cruise ships for the Marella Cruises...
LNG & LPG Market Update: Rate Declines Across Key Routes
The LNG market experienced an overall decline, with most routes seeing a drop in rates.
The BLNG1 Gladstone–Tokyo route saw mixed movement, with...
VLCC Market Slips as Aframax and Suezmax Rates Rebound
MEG LR2 rates declined, with TC1 dropping to WS153.33, while LR1 rates strengthened, with TC5 rising to WS180.94. MEG MR rates fell, but...
BRS Shipbrokers on 2024 Shipbuilding Trends and Numbers
Shipbuilding orders rose dramatically from 128.4 million DWT in 2023 to 193.1 million DWT in 2024, with container carriers and tankers leading the...
WSC Urges USTR to Drop Port Fees, Boost U.S. Shipbuilding
The World Shipping Council (WSC) opposes the U.S. Trade Representative’s proposed port fees on Chinese-built vessels, warning they will increase costs, worsen inflation,...
EU Backs Down on Carbon Levy for Shipping, Risking Climate Finance...
The EU is set to compromise on a carbon levy for international shipping, allowing companies to trade carbon credits instead of direct payments.
...
Samsung Heavy Industries Achieves Breakthrough in FLNG Liquefaction Technology
Samsung Heavy Industries has achieved a significant advancement in liquefaction technology for Floating Liquefied Natural Gas (FLNG) facilities. This development is notable because it...
E-Fuel Transition: GMF Discusses IMO Policy Measures for Shipping Decarbonization
The Global Maritime Forum (GMF) has published a document outlining crucial IMO policy measures and discussion points for the upcoming MEPC 83 meeting (April...
Rough Seas Ahead: Drewry Predicts Sailing Cancellations and Rate Declines
On the major East-West trade routes (Transpacific, Transatlantic, and Asia-North Europe & Med), there have been significant sailing cancellations, reports Drewry.
Drewry’s Predictions
Drewry's predictions and...
DNV White Paper Explores Biofuels as a Viable Decarbonization Option for...
With the shipping industry's focus on decarbonization, biofuels are gaining traction as a viable option for shipowners. DNV has published a white paper to...
Egypt Probes Red Sea Tourist Submarine Sinking
Egyptian authorities have questioned the crew of a tourist submarine that sank in the Red Sea, claiming the lives of six passengers out of...
Weekly Dry Bulk Market Report Capesize Weakens, Panamax Gains Strength
The Capesize market began the week on a positive note but weakened as activity failed to maintain momentum. The BCI 5TC started at $22,311...
Wind Propulsion Identified As Key Solution For Shipping’s Decarbonization
As the International Maritime Organization (IMO) prepares for crucial climate talks in London from March 31 to April 11, a new report by marine...
Global Maritime Forum Launches Sustainable Crewing Guidelines
The Global Maritime Forum has introduced Sustainable Crewing Guidelines, a nine-point framework designed to improve working conditions for seafarers amid the shipping industry's 17-year...
India Tightens Scrutiny On Russian Oil Shipments
India has denied entry to a tanker carrying Russian crude, signaling increased scrutiny of oil shipments from Russia, according to Reuters. The vessel was...
