Red Sea crisis hurt global trade volumes: WTO DG
ABU DHABI : The crisis in the Red Sea, one of the world’s busiest trade corridors, hit global merchandise trade volumes in 2023, according to Ngozi Okonjo-Iweala, Director-General,
Shipping containers to post two consecutive years of decline: Drewry
LONDON : The global pool of shipping containers is expected to contract in both 2023 and 2024, according to Drewry’s latest report on the container equipment market. “While
FMC adds Chinese Shipping Company to Controlled Carrier list
WASHINGTON D.C. : The Federal Maritime Commission, the independent federal agency responsible for ensuring a competitive and reliable international ocean transportation system, has designated Hede (HONGKONG) International Shipping Limited,
CMA CGM, COSCO, Evergreen and OOCL extend OCEAN Alliance to 2032
SHANGHAI : On 27 February, the Chief Executive Officers of the CMA CGM Group, COSCO SHIPPING, Evergreen, and OOCL gathered in Shanghai to sign a Memorandum of Understanding,
PIL collaborates in MoUs with SGTraDex and bunker suppliers
SINGAPORE : Pacific International Lines (PIL), in collaboration with Singapore Trade Data Exchange (SGTraDex), has recently entered into Memorandums of Understanding (MoUs) with bunker suppliers TFG Marine, KPI
MISC Group announces financial results for the year 2023
KUALA LUMPUR : MISC is pleased to announce its financial results for the financial year ended 31 December 2023. Financial Highlights: Group Revenue, Operating Profit and Profit Attributable
US targeted Iranian and Houthi commanders and shipping
NEW YORK : The United States targeted Iranian and Houthi commanders and a vessel that shipped more than $100 million in Iranian commodities to businesses in China in sanctions announced on Tuesday. Mohammad Reza Falahzadeh, deputy
Cargo volumes in Red Sea area drop 21% due to attacks on ships : BIMCO
LONDON : “During the first seven weeks of 2024, cargo volumes to and from ports in the Gulf of Aden and Red Sea declined 21% y/y. The number
Baltic index hits over 1-month high on sturdy vessel rates
LONDON : The Baltic Exchange’s dry bulk sea freight index extended gains for an eighth straight session to touch 1-1/2 month peak on Tuesday, buoyed by climbing rates
CMA CGM’s financials declines amid stable container volumes
MARSEILLE : French ocean carrier CMA CGM reported revenues of US$47 billion in 2023, translating to a 36.9% decline compared with 2022 figures, EBITDA of US$9 billion, down