Russia Continues Arctic LNG 2 Exports with Sanctioned Vessels
A liquefied natural gas (LNG) vessel, the Voskhod, which is subject to U.S. sanctions, has recently docked at Russia's Arctic LNG 2 plant. This marks the second time a sanctioned vessel has called at...
Capesize Dominates Dry Bulk Freight Gains, Panamax and Ultramax Markets Show Signs of Stabilizing
The dry bulk shipping market witnessed a dynamic week, with Capesize vessels leading a robust rally, while Panamax and Ultramax/Supramax segments experienced more mixed or moderating trends after initial gains.
Capesize Market
The Capesize market experienced...
VLCC and Suezmax Rates See Welcome Upturn, Bolstering Crude Tanker Earnings
Last week has brought a positive shift in the LR2 (Long Range 2) tanker freight market in the Middle East Gulf (MEG), with rates recovering and then stabilizing after an earlier dip. LR2s are...
Combating Cargo Abandonment: How Operators Can Identify Risks, Vet Clients, and Act Swiftly
Abandoned cargo poses a persistent and costly challenge for transport and logistics operators globally. These issues arise from various factors, including commercial disputes, consignee insolvency, or complex regulatory hurdles. Unclaimed cargo can lead to...
Europe’s Busiest Cruise Port Barcelona to Scale Back Amid Overtourism Concerns
The Port of Barcelona, currently recognized as Europe's busiest cruise port, is set to scale back its passenger terminal capacity significantly by 2030. This strategic decision is a direct response to growing concerns about...
60-Year-Old Farmer Builds Submarine by Hand
Zhang Shengwu, a 60-year-old farmer from Maanshan, Anhui province, has stunned many by single-handedly building a functional submarine named Big Black Fish.
His journey from carpentry and welding to crafting underwater vessels reflects a story...
GTT Strategic Ventures Invests In CorPower Ocean To Advance Wave Energy
GTT Strategic Ventures, the investment arm of the GTT group, has joined the second close of the Series B funding round for CorPower Ocean, a Swedish pioneer in wave energy technology.
The round, which builds...
CSSC Shipping Orders Two Newcastlemax Bulkers To Boost Dry Bulk Fleet
CSSC Shipping, the Hong Kong-listed leasing arm of China State Shipbuilding Corporation, has expanded its dry bulk fleet with an order for two newcastlemax newbuilds. The deal strengthens its position in the bulk sector...
Insetting Can Speed Up Shipping Decarbonisation But Needs Strong Guardrails
A new analysis by the UCL Energy Institute, supported by UMAS, reveals that voluntary insetting schemes could play a crucial role in decarbonising the maritime sector ahead of regulation.
These schemes, if designed with strong...
“K” LINE Launches LNG-Fueled Car Carrier Tethys Highway
Kawasaki Kisen Kaisha, Ltd. (“K” LINE) welcomed the delivery of Tethys Highway, a next-generation car carrier with a 6,900-vehicle capacity. Powered primarily by liquefied natural gas (LNG), this vessel marks another major step toward...