Page 16 - Shipping Industry

Ship sinks off Madagascar coast; 17 dead and 68 missing, says report

The ship, Francia, had left the city of Antanambe, in the eastern Mananara North district in the early hours of Monday

Shipping rate surge threatens global economic recovery, says UNCTAD

A surge in demand for consumer goods during the pandemic has created major supply bottlenecks around the world, which has impacted the supply of container ships and boxes to transport cargo

Shooting the messenger? Shipping carries the can as investors shun coal

Six European firms told Reuters they were either reducing their exposure to vessels that transport coal or were considering doing so

Shipping industry's zero-emission trials

The key to achieving reduction of emissions is development of alternate fuels by the oil industry

Why crisis for exporters could turn out to be a boon for shipping industry

Shipping companies counter that their costs have soared as well

Global shipping is earning the most money since 2008 as pandemic pain wanes

This boom's causes are twofold -- an economic reopening after Covid that has spurred surging demand for goods and raw materials

Shipping industry proposes levy to speed up zero carbon future

With about 90% of world trade transported by sea, global shipping accounts for nearly 3% of the world's CO2 emissions and the sector is under growing pressure to get cleaner.

The world economy's supply chain problem keeps getting worse

Manufacturers reeling from shortages of key components and higher raw material and energy costs are being forced into bidding wars to get space on vessels, pushing freight rates to records

Exporters likely to move CCI on 'cartelisation' in shipping industry

Based on estimates of the Directorate General of Shipping, the country has seen a 15 per cent fall in the supply of containers in 2021 for various reasons

Stranded and shattered seafarers threaten global supply lines

The Delta variant devastating parts of Asia - home to many of the world's 1.7 million commercial seafarers - has prompted many nations to cut off land access to visiting crews

US accepted lifting all sanctions on oil and shipping, says Iran

Iran agreed in 2015 to curbs on its nuclear programme in return for the lifting of international sanctions

China's worse-than-Suez ship congestion set to widen global trade chaos

Yantian Port says it will be back to normal by the end of June, but it may take months for the cargo backlog in southern China to clear while the fallout ripples worldwide.

Out-of-control shipping costs fire up retail prices from coffee to toys

Soaring demand, shortage of containers, saturated ports and too few ships have contributed to the squeeze on transportation capacity on every freight path.

Global shipping crisis result of uneven post-Covid recovery of countries

The crisis in the global shipping industry has been largely on the back of uneven post-Covid recoveries of the major importing and exporting countries, according to a report by Drip Capital

Statsguru: Commodity supercycle may hurt India amid Covid-19 pandemic

After a year of limited activity, several economies are expecting a faster-than-usual bounce back to normal. This has led to an increase in commodity prices across the board

Gain for shipping players as Baltic Dry index touches 10-year high

Shipping Corporation of India, Great Eastern Shipping, Tolani Shipping, and Essar Shipping are into bulk carriers along with other segment fleets in the domestic market

Supply lines at risk as shipping containers topple over at alarming rate

Millions of dollars of cargo sinks to the bottom of oceans as pressure to speed deliveries raises the risk of safety errors.

Egypt seizes Suez Canal ship 'Ever Given' pending $900 mn compensation

Company that owns vessel says the crew is still on board the ship, which is now in Great Bitter Lake, about halfway along the canal.

Egypt seeks settlement out of court for Suez Canal blockage

The Suez Canal chief said Tuesday that authorities are negotiating a financial settlement with the owners of a massive vessel that blocked the crucial waterway for nearly a week. Lt. Gen. Osama Rabie told The Associated Press he hoped talks with Shoei Kisen Kaisha Ltd., the Japanese owner of the skyscraper-sized Ever Given, will conclude without a lawsuit. We are discussing with them a peaceful resolution to the matter without resorting to the judiciary, he said. He maintained that bringing the case before a court would be more harmful to the firm than settling with the canal's management. The canal chief said last week the Suez Canal Authority was expecting more than $1 billion in compensation, warning the ship would not be allowed to leave the canal if the issue of damages turns into a legal dispute. That amount takes into account the salvage operation, costs of stalled traffic and lost transit fees for the week that the Ever Given blocked the canal. He did not specify then who .

Fraught with challenges: Ship salvaging industry rides on rough waters

The rescue of the cargo ship that choked the busy Suez Canal has put the spotlight on a sector