New Zealand Puts Seafarer Welfare Funding Into Law

New Zealand updated legislation to enable maritime levies on vessels visiting its ports to help fund seafarer welfare services, says an article published on safety4sea website. Aim This move aims to improve welfare support in ports...

FuelEU Maritime, EU ETS & Bunker Tax Proposals Raise Concerns

  IBIA has studied the European Commission’s “Fit for 55” package of proposals in a bid to understand the various aspects and the impact they may have on the marine fuels sector, and created a...

Why Do EU’s New Covid Vaccine Orders Rate Higher?

U.S. in July agreed higher price than EU for Pfizer jabs EU imposed stricter conditions on production, deliveries Some vaccine makers have increased bargaining power Side-effects, supply issues overshadow some drugmakers The European Union...

Wuhan To Test All 12 Million Residents as Delta Variant Spreads

China's Wuhan to test all 12 million residents as Delta variant spreads China is struggling to contain a widening coronavirus outbreak, which has spread to at least 15 provinces China's Wuhan city will test its 12 million...

Maersk Raises Profit Guidance After Freight Rates Soar

A.P. Moller-Maersk raised its guidance for profit this year after freight rates soared. The Copenhagen-based company added almost $5 billion to the midpoint of its operating profit forecast. A.P. Moller-Maersk A/S, the world’s largest...

Summit & Commonwealth Sign MoU for LNG Offtake

Summit and Commonwealth LNG sign MoU for LNG in Bangladesh the scope of the MoU includes SOSCL potentially contracting for 1 million tpy of LNG offtake, for a term of up to 20...

Boxship Charter Prices Push To Record Highs Amid Vessel Shortages

Average TCE rates increase above 30 months 8500 TEU fixtures eclipse $100,000/d Slim 2021 to 2022 deliveries to support rates Container ship operators are paying increasingly high charter rates for longer periods as they...

Container Ship Orders Record 790% Increase, The Highest Level So Far

At present, the number of container ship orders is hitting the highest level in history.  The Global container ship orders reached 286 vessels, an increase of 790% from 32 vessels in the same...

Damietta Terminal in Egypt Dispatched 17 LNG cargoes in H1

Damietta liquefaction plant in Egypt has dispatched a total of 17 LNG cargoes in the first half of this year it stopped operations in 2012 due to declining domestic production and restarted the...

ICS Welcomes Its First African Member State

The Nigerian Chamber of Shipping has become a full member of the ICS. It became a full member of ICS on Monday 2nd August, 2021. The Nigerian Chamber of Shipping has become a full...