BANCOSTA Weekly Market Report – Week 29, 2021
2021, a year for robust iron trade. Refinitiv Total Global Loading trade is up in the global market by 3.3%. Mainland China remains the largest importer of iron ores accounting for a massive 68%...
Illegal Ship-to-ship Fuel Transfer Attempt Foiled
According to an article published in NewStraitsTimes, The Malaysian Maritime Enforcement Agency (MMEA) stopped a tanker for attempting an illegal ship-to-ship fuel transfer in the eastern Johor waters early yesterday.
What happened?
Johor MMEA director First...
Time for AI-Optimized Container Stowage In Maritime Industry
Ships operate in an environment that is not only commercially demanding but also exposed to risks that have serious consequences. In spite of significant improvements in safety regulations, equipment, and technology, we continue to...
Cyber-Attack On The Shipping Channels We Rely On So Heavily?
The Suez Canal block that unfolded in March opened the world’s eyes to the ramifications of disrupting the global logistics industry. But, has the world considered the consequences of a cyber-attack on the shipping...
SRH Connect Acquires Inmarsat’s Greek & Cypriot Fleetbroadband Customer Base
Agreement will see the Greece-based company acquire FleetBroadband contracts purchased by Inmarsat from Speedcast earlier this year, says an article published on their website.
Agreement
Inmarsat Maritime Ventures, a subsidiary of Inmarsat, the world leader in...
Walmart & Other Retail Giants Import Millions of Goods on Polluting Cargo Ships
Take a look around your home and you’ll likely find plenty of goods that traveled by cargo ship to your doorstep. Tracing the Walmart impact on the environment from shipping any of these goods...
Vital Info Missing, Mauritius Environmental Disaster Report Pending
The bulker Wakashio made headlines for the environmental disaster it caused in Mauritius after running into coral reefs in July last year.
The final accident investigation report is still pending one year on.
...
Increase in OPEC Production, Tanker Operators To Gain
Tanker operators are set to gain from OPEC’s recent decision to increase production, according to shipbroker Gibson.
Gibson believes the main force driving demand will be the path of the pandemic and with...
Evergreen Chief Supports New Box Ship Investments
Evergreen president Eric Hsieh has defended the carrier’s decision to invest heavily in newbuilds.
Particularly a 2019 order for a dozen 24,000 teu containerships when freight rates were depressed.
Mr Hsieh told shareholders...
IMF Warns on Global Economy, Poorer Countries Need Attention
The International Monetary Fund’s assessment of the state of the global economy has changed little over the past three months.
This may be attributed to the ebbs and flows of the Covid-19 pandemic.
A Guardian news...