Maersk stops Oakland Port calls on WCCA 2 Service
COPENHAGEN : Maersk decided to temporarily remove the Port of Oakland from the WCCA 2 Service port rotation. The Danish company said it took this action to maintain
US now has an 85% chance of recession in 2024, the highest probability since the Great Financial Cri
NEW YORK : A recession is likely to hit the US Economy in 2024, a new economic model highlighted by the economist David Rosenberg suggests. The economic indicator,
Kalmar to enhance Réunion Island box terminal with hybrid equipment
MARSEILLE : Kalmar and CMA CGM’s subsidiary CMA Terminals have reached an agreement for the supply of three Kalmar hybrid straddle carriers to SAMR, a terminal located on
IMO Sub-Committee on human element, training and watchkeeping (HTW 10)
LONDON : The 10th session of the IMO’s Sub-Committee on Human Element, Training and Watchkeeping (HTW 10) was held from 5 to 9 February 2024. A comprehensive revision
Airseas, a revolutionary maritime company achieves major milestone pulling cargo ships with Giant ki
FRANCE : Airseas, the French company with the lofty goal of helping to propel cargo ships with giant kites, ended 2023 with successful sea trials. It’s the next step
Drewry : January Multipurpose Time Charter Index above forecast
LONDON : The Drewry Multipurpose Time Charter Index tracks one-year period charter rates across a basket of vessel types and sizes and forecasts the market movement over the
Baltic index scales 1-month high on firm rates for larger vessels
LONDON : The Baltic Exchange’s dry bulk sea freight index rose to a one-month high on Monday, buoyed by firm capesize and panamax vessels rates. The overall index,
BIMCO starts work on contract for growing wind turbine market
LONDON : BIMCO has established a subcommittee to work on a global standard contract for the transport and installation of offshore wind turbines. The project has been launched
India is reworking its Merchant Shipping Act
NEW DELHI : India is looking at reworking its merchant shipping laws as it replaces the existing eponymous Act of 1958. The new provisions will look to include
Suez Canal Crisis : Major shipping lines reroute, impacting Indian Trade
CAIRO : A recent report by credit ratings agency Ind-Ra highlights the substantial impact on freight and forwarding (F&F) costs, estimating a potential increase of 25-30 per cent
