At around 1505 on January 10, an empty tanker HONGPU 6 exploded and caught fire at 35.22.6N, 120.44.2E in Yellow Sea, trapping 17 crews on board. Fifteen have been rescued and two are missing , understood to be an AB and a MTM . The tanker

Weak economic activity, a 10.5% increase in domestic coal mining, and a recovery in coal imports from Mongolia via rail alleviated coal shipments to China in 2022. However, the end of Chinas zero Covid policy and an anticipated recovery of

The Inter-Club Agreement (ICA) was formulated by International Group of PI Clubs in 1970. It is intended to provide a relatively simple mechanism whereby liability for cargo claims arising under New York Produce Exchange Form (NYPE) or Asba

As Chinas new energy vehicle manufacturers continue to upgrade their technology and improve their production efficiency, exports have been booming. In Yuyao, Ningbo, Zhejiang province, the Lynk Co factory has achieved higher value-added pro

London Shanghai, 11th January 2023 :Silverstream Technologies today announced it has signed a deal with China Merchants Energy Shipping (CMES) to install its market-leading air lubrication technology, the SilverstreamSystem, on four 175,000

Belgian oil tanker and storage group Euronav disputes Frontlines right to end a merger agreement between the companies and is considering its options, including arbitration and legal action, it said on Wednesday. Oslo-listed oil transporter

On January 10, Wanhai Lines released data showing that Wanhais revenue in December 2022 was NT $11.458 billion, down 50.7% year on year; Revenue in 2022 was NT $258.87 billion, up 13.54% year-on-year. Wanhai explained that the revenue plung

As ship owners around the world respond to environmental regulations that are changing the way vessels are powered , there is less certainty than ever around what future vessels will look like. The markets of the future are equally uncertai

The IMOs carbon intensity regulations, specifically the carbon intensity indicator (CII) in place since 1 January, are likely to dramatically impact the LNG fleet supply, which could lead to stranded assets later this decade. The warning co

Korea Shipbuilding and Offshore Engineering (KSOE), a research-oriented intermediate holding company of the Hyundai Heavy Industry (HHI) Group, Germanys Fraunhofer Institute for Ceramic Technologies and Systems (IKTS), and European solid ox

The year ended with critical changes in grain flows due to geopolitical tensions between Russia and Ukraine. In parallel, the Chinese real estate crisis seriously impacted Capesize vessels, while the energy crisis drove up coal flows and Pa

Shipping companies are piloting an innovative cloud-based solution for weather-optimized voyage routing launched by OrbitMIthat allows routes to be plotted automatically based on cost, time and fuel consumption as new CII regulations raise

The new organisational structure and new executive leadership team follow the appointment of Vincent Clerc as CEO of A.P. Moller - Maersk effective 1 January, 2023. Today, A.P. Moller - Maersk (Maersk) has announced a new organisational str

Capesize The decline in the first week of the year appeared to be no surprise to the market due to the lackluster activity and seasonal headwinds since the holiday season. The average rate of the Capesize 5 timecharter (5TC) routes had its

Container shipping lines reaped massive windfalls during the COVID-era consumer boom. Different ocean carriers pursued different fleet strategies in 2020-22, from aggressively maximizing market exposure on one hand to keeping capacity flat