Page 10 - Shipping Industry

Baltimore bridge collapse puts specialised role of pilot under spotlight

The expert pilots who navigate massive ships in and out of Baltimore's port must often manoeuvre with just two feet of clearance from the channel floor and memorise charts, currents and every other possible maritime variable. The highly specialised role -- in which a pilot temporarily takes control of a ship from its regular captain -- is coming under the spotlight this week. Two pilots were at the helm of the cargo ship Dali about 1.25 am Tuesday when it lost power and, minutes later, crashed into a pillar of the Francis Scott Key Bridge, causing the bridge to collapse and kill six construction workers. While the incident will undoubtedly raise larger questions about ship and port safety protocols, so far there is no indication the pilots on the Dali did anything wrong given the immediate situation they faced. The ship sent out a mayday call, which gave just enough time for authorities to close the bridge to traffic and likely prevented further deaths. The lead pilot also dropped

Baltimore bridge collapse: US concerned about impact on immediate region

US officials have expressed concern about the implications rippling beyond the immediate region after a key bridge harbouring America's largest vehicle handling port collapsed in Baltimore when a cargo ship crashed into it, even as experts predicted repercussions to be "modest and mainly localised". The 2.6km-long, four-lane Francis Scott Key Bridge over the Patapsco River in Baltimore was destroyed after Dali, a 984-foot cargo ship bound for Sri Lanka, collided against a bridge column in the early hours of Tuesday. The collapse of the bridge has indefinitely halted the flow of ships in and out of Baltimore Port. We are concerned about the local economic impact, with some 8,000 jobs directly associated with port activities," US Transportation Secretary Pete Buttigieg told reporters in the White House on Wednesday. "We're concerned about implications that will ripple out beyond the immediate region because of the port's role in our supply chains, he said, describing the Baltimore po

Baltimore bridge collapse: Ships with heavy load need to find new harbour

Manufacturers and shippers are scrambling to figure out where they can load or unload cargo while the main operations of the Port of Baltimore remain shut down due to Tuesday's deadly collapse of the Francis Scott Key Bridge. Supply chain experts say other ports up and down the East Coast are likely to absorb much of Baltimore's traffic, avoiding a crisis. But not without some longer shipping times and upheaval. "Ultimately, most trade through Baltimore will find a new home port," Moody's Analytics economist Harry Murphy Cruise wrote in a blog post. US Transportation Secretary Pete Buttigieg reiterated Wednesday that it was too soon to estimate how long it would take to clear the bridge structure from the 50-foot-deep Patapsco River channel, which leads to the port's main terminal. The port's location makes it a key destination for freight. The Maryland Port Administration says the facility is an overnight drive from two-thirds of the US population, and it's closer to the Midwest t

Days after Baltimore bridge collapses, union fears loss of 2,400 jobs

Dock workers are hired daily based on what's needed, without a guarantee of pay if the port is shut down, Cowan said. As a result, union members have been reaching out

Baltimore bridge collapse: Divers to search harbour for those presumed dead

The disaster also forced the indefinite closure of the Port of Baltimore, one of the busiest on the US Eastern Seaboard, and created a traffic quagmire for Baltimore and the surrounding regio

Baltimore bridge collapse: Ship that crashed has a troubled history

The incident is proving disruptive for shipping at one of the busiest ports on the US East Coast and also for road transport, as it severed a key link on the major highway encircling Baltimore

Baltimore bridge collapse: Coal exports likely to be blocked for weeks

Ernie Thrasher added that the coal that moves out of Baltimore includes a lot of India-bound thermal coal, which is used for electricity generation

Titanic law helps ship owner limit liability in Baltimore bridge collapse

At the center of the legal fallout will be Singapore-based Grace Ocean, owner of the container ship Dali that crashed Tuesday into the Francis Scott Key Bridge at the start of a voyage

Baltimore bridge collapse: 6 dead, port disruptions hit cars to coal

The toll could have been worse except for a mayday call from the Singaporean-flagged vessel as it lost power

'Cargo ship lost power, issued mayday before hitting Baltimore's bridge'

A container ship lost power and rammed into a major bridge in Baltimore early Tuesday, causing the span to buckle into the river below and plunging a construction crew and several vehicles into the dangerously cold waters. Rescuers pulled out two people, but six others were missing. The ship's crew - all Indian, 22 in total - issued a mayday call moments before the crash took down the Francis Scott Key Bridge, enabling authorities to limit vehicle traffic on the span, Maryland's governor said. The ship struck one of the bridge's supports, causing the structure to collapse like a toy. It tumbled into the water in a matter of seconds a shocking spectacle that was captured on video and posted on social media. The vessel caught fire, and thick, black smoke billowed out of it. With the ship barreling toward the bridge at a very, very rapid speed, authorities had just enough time to stop cars from coming over the bridge, Maryland Gov. Wes Moore said. "These people are heroes, Moore said

FedEx plans $5 bn buyback as CEO's cost-cutting measures yield results

The shares rose as much as 13% after regular trading in New York, while competitor United Parcel Service Inc. advanced 3.4%

Red Sea crisis impact on trade data will be visible in FY24: GTRI

With escalating everyday attacks and no end in sight, the Red Sea crisis will adversely impact trade volumes in substantial ways in 2024, according to the report of economic think tank GTRI. The Global Trade Research Initiative (GTRI) said that rising shipping, and insurance costs and delayed arrival of shipments will continue to disrupt global value chains, squeeze margins, and make exports of many low-margin products unviable from current locations. Countries in Asia, Africa, and Europe will face the most disruption across industries, it added. It said that the disruption is significantly impacting Indian trade, especially with the Middle East, Africa, and Europe. India, heavily reliant on the Bab-el-Mandeb Strait for crude oil and LNG imports and trade with key regions, faces substantial economic and security risks from any disruption in this area. About 65 per cent of India's crude oil imports in FY2023, valued at USD 105 billion, from countries like Iraq, Saudi Arabia, and ...

Next big reform in Indian insurance will be indemnity cover for shipping

Amendment to have such a facility could be part of new government's early legislative agenda

Red Sea violence: Ship earlier attacked by Houthi rebels of Yemen sinks

A ship attacked by Yemen's Houthi rebels has sunk in the Red Sea after days of taking on water, officials said Saturday. The Rubymar had been drifting after the attack in February. It marks the first ship sunk by the Houthis amid their monthslong attacks on shipping in the vital waterway. Yemen's internationally recognised government, as well as a regional military official, confirmed the ship sank. The official spoke on condition of anonymity as the information had not been cleared for publication. The Rubymar's Beirut-based manager could not be reached for comment.

Govt expects piracy attacks to rise in Red Sea, stretching navy resources

The attacks in the Arabian and Red Sea were the focus of discussions between US Secretary of State Antony Blinken and his Indian counterpart Jaishankar at the recent Munich Security Conference

Red Sea attacks add urgency to alternate Mideast trade route: Govt

India has taken the first steps with the UAE to begin work on the India-Middle East-Europe Economic Corridor, or IMEC, Sunjay Sudhir said in an interview in Abu Dhabi

Shipping rates volatile in February amid Red Sea crisis, shows data

Very large crude carrier (VLCC) rates up compared to January

Traffic handled by major Indian ports hits 5-year high in January

The total traffic for the major ports was 72.5 mn tonnes, the highest since Feb 2019, according to data from the Ministry of Ports, Shipping, and Waterways and the Centre for Monitoring Indian Economy

Govt mulls setting up maritime development fund to support shipping sector

The government is considering setting up a maritime development fund with a view to providing low cost, long-term financial support to the shipping sector, a senior government official said on Tuesday. Ministry of Ports, Shipping and Waterways Secretary T K Ramachandran at an event organised by industry body CII said, the government is also looking at granting infrastructure status to the shipping sector. "The government is working to set up Maritime Development Fund (MDF) for low-cost, long-term financing support," Ramachandran said. According to him, the two options for setting up MDF are -- setting up dedicated maritime vertical under the newly proposed development finance institution, or constituting standalone MDF as a company with majority ownership by multilateral/ bilateral agency. Ramachandran further said the government is also considering notifying guidelines for setting up NBFCs at International Financial Services Centre (IFSC) to undertake vessel financing/ leasing fro

Taiwan protests China's boarding of tourist boat near Kinmen Island

Taiwan on Tuesday protested China's boarding of a tourist boat, as tensions rise around the Kinmen archipelago, which lies a short distance off China's coast but is controlled by Taiwan. Taiwanese media reported the King Xia, carrying 11 crew and 23 passengers, was boarded by the Chinese coast guard for about 32 minutes on Monday. Taiwan's coast guard escorted the boat back to Kinmen, and it then continued its sight-seeing voyage. Ocean Affairs Council Minister Kuan Bi-ling told journalists at the legislature on Tuesday that the incident hurt the feelings of our people, created panic among the people, and was not in the interest of the people on both sides of the Taiwan Strait, referring to the 160 km- (100 mile)-wide waterway that separates mainland China from Taiwan, a self-governed island that Beijing claims as its own territory. Premier Chen Chien-jen said Taiwan was seeking to lower tensions in the area, which have escalated as China increased military activities following ...