Page 5 - Shipping Industry

Crew abandon Hong Kong-flagged container ship in Red Sea as fire engulfs

An explosion struck a Hong Kong-flagged container ship on Tuesday travelling north through the Red Sea, sparking a major fire that forced its crew to abandon the vessel, shipping industry officials said. The ship was drifting and ablaze some 225 kilometers (140 miles) off the coast of Hodeida, a port city in Yemen held by the country's Houthi rebels, said the Diaplous Group, a maritime firm. It wasn't immediately clear what caused the fire in the Red Sea, which has been repeatedly targeted by attacks from the Houthis. The rebels said last week they were was limiting their assaults following a ceasefire in the Israel-Hamas war in the Gaza Strip. The Houthis did not immediately acknowledge the fire incident. The vessel was abandoned and the crew later rescued unharmed, another maritime industry official told The Associated Press. The official spoke on condition of anonymity as authorization hadn't been given to speak publicly about the incident. The official described the cargo aboar

Union Budget 2025-26: Ships likely to be granted infrastructure status

Inclusion in the harmonised master list of infrastructure sectors will allow developers in the sector access to infrastructure lending at easier terms

JNPA will become first Indian port cross 10 mn TEU capacity mark: Wagh

JNPA is expected to maintain steady growth, focusing partly on the under-construction Vadhvan Port

Cargo handling capacity reached 133 MMT in last 10 yrs: Sarbananda Sonowal

Union Minister Sarbananda Sonowal informed that cargo handling capacity has reached 133 million metric tonnes in the last ten years.Speaking at the 2nd Inland Waterways Development Council (IWDC) meeting in Kaziranga a day earlier, Sonowal said,"In the last 10 years, our cargo handling capacity has reached 133 million metric tonnes... More than Rs 60,000 crores of investment have been made in our National Waterways... In the inaugural session of the Inland Waterways Development Council, we inaugurated projects worth Rs 1400 crores for 21 states of our country...," he said."We aim to increase our cargo capacity to 200 million metric tonnes by 2030 and invest more than Rs 50,000 crore in this sector in the next 5 years...," the minister added.The IWDC, the apex body for policy deliberation on the promotion & propagation of inland waterways in India, witnessed major announcements to boost infrastructure along national waterways on Friday.The meeting also witnessed ministerial ...

Union Minister Sonowal launches National River Traffic & Navigation System

The Inland Waterways Development Council (IWDC), apex meet for policy deliberation for the promotion and propagation of inland waterways in India, witnessed major announcements to boost infrastructure along national waterways, a release said on Friday.According to the release, the second meeting of IWDC, organised by the Inland Waterways Authority of India (IWAI), the nodal agency for the development of waterways under the Ministry of Ports, Shipping & Waterways (MoPSW), announced investments of more than RS 50,000 crore in the next five years. A series of new initiatives across 21 Inland Waterway States were announced worth more than Rs 1400 crore, on the occasion. The meeting was presided over by the Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal.The IWDC began with a traditional lamp lighting ceremony by the Chief Minister of Assam, Dr Himanta Biswa Sarma along with the Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal at Kohora in ...

Union, employers credit Trump in US port deal that may shape future talks

The success of the International Longshoremen's Association in winning Trump's support for its anti-automation battle could be instructive for unions facing contract renewals during his term

Switzerland-based TIL to invest Rs 20,000 crore in Vadhvan Port project

Terminal Investment Limited Sarl (TIL) invests in, develops, and manages container terminals across the globe

Global logistics giant DP World expands Rewari terminal facility by 25%

This expansion will increase the monthly freight train handling capacity of the Pali-Rewari rail terminal by 25 per cent, from its current capacity of 192 trains to 240 trains, the company said

Climate solution: Sails make comeback in shipping, to dent carbon footprint

Had he continued working aboard fuel-powered cargo ships, Yann Jourdan reckons he'd be earning perhaps four times what he now gets as captain of a sailboat that instead uses the wind's clean energy to transport goods across the Atlantic. But the hit to Jourdan's pay is buying him peace of mind. When his 3-year-old son, Marcel, grows up, the burly French mariner wants to be able to explain what he did to make a dent in the the shipping industry's huge carbon footprint. The international merchant fleet of more than 100,000 ships transports more than 80% of global trade. But it's also responsible for about 3% of global greenhouse gas emissions. Without a quick switch from dirty fuels to cleaner energies, its pollution is forecast to soar. Mariners pushing for wind power say investors used to view them as something of a joke. But as they pioneer a comeback for sail-powered cargo ships, they're having the last laugh. It's our job to prove that it's possible, Jourdan said aboard the new

Samsung, Hyundai looking at Indian shipbuilding industry: Sarbanda Sonowal

Sonowal is opening up the Indian seas and ports to the world. In an interview with Dhruvaksh Saha and Shreya Jai in New Delhi, he talks of about the ministry's plans

Rewriting maritime map: Centre charts course for broader ship ownership

Shipping ministry seeks maritime overhaul with 4 key bills lined up in Parliament session

Major port cargo contracts 3.2% to 68 mt in October, shows govt data

Overseas cargo handled by these ports decreased by 5.5% to 52.9 mmt during the month

SCI shares sail up to 6% after Union govt lists three shipping bills

Shares of Shipping Corporation of India (SCI) stock price of the company came into focus after the central government listed three new shipping bills for the winter session of the parliament

Suspected attack by Houthi rebels targets commercial ship in Red Sea

A suspected attack by Yemen's Houthi rebels targeted a commercial ship late on Sunday night travelling through the southern reaches of the Red Sea, though it caused no damage nor injuries, authorities said. The attack comes as the rebels continue their monthslong assault targeting shipping through a waterway that typically sees USD 1 trillion in goods pass through it a year over the Israel-Hamas war in Gaza and Israel's ground offensive in Lebanon. A ship's captain saw that "a missile splashed in close proximity to the vessel" as it travelled near the Bab el-Mandeb Strait connecting the Red Sea to the Gulf of Aden, the British military's United Kingdom Maritime Trade Operations centre said in an alert. The attack happened some 48 kilometres west of Yemen port city of Mocha. "The vessel and crew are safe and proceeding to its next port of call," the UKMTO added. The Houthis did not immediately claim the attack. However, it can take the rebels hours or even days to acknowledge their

Shipping firms, US agree on cost payments after bridge collapse incident

Ship management firm Synergy Marine and Grace Ocean, owner of the Singapore-flagged cargo ship with 22 Indian crew members that collided with a US bridge in March, have reached an "agreement" with the US government on cost payment, while rejecting liability for the incident. Container ship 'DALI', with all-Indian 22 crew members onboard, had collided with one of the pillars of the Francis Scott Key Bridge in Baltimore in March this year. The crew had issued a mayday call before the collision that led to the collapse of bridge, prompting authorities to limit traffic movement. "We confirm that Grace Ocean and Synergy have reached an agreement with the United States regarding the payment of those costs, which are fully insured," Synergy Marine Group said in a statement on Friday. "The settlement strictly covers costs related to clearing the channel, which we would have been responsible for in any case, and is not indicative of any liability, which we expressly reject for the incident

Suspected attacks by Houthi rebels target ship in Red Sea: Officials

A series of suspected attacks by Yemen's Houthi rebels targeted a ship on Thursday in the Red Sea, authorities said. The attack comes as the rebels continue to threaten ships moving through the Red Sea, a waterway that once saw USD 1 trillion in goods move through it a year, over the ongoing conflicts in the Mideast stemming from the Israel-Hamas war in the Gaza Strip. A ship in the Red Sea skirting the coast of the East Africa found itself struck first by a projectile that damaged the vessel, but sparked no fire and caused no injuries, the British military's United Kingdom Maritime Trade Operations center said. The private security firm Ambrey identified the ship as a Liberian-flagged chemical tanker. At least two more projectiles later fell in the waters around the vessel, which was a distance away from Hodeida, the Houthi-controlled port from which many of the rebels' attacks have been launched. The rebels did not immediately claim the attack. However, it can take them hours or

Centre releases draft guidelines on deregulating PPP port tariffs

Competition in ports sector has seen major shift, regulation no longer necessary, says Shipmin

US dockworkers begin strike, halting half the nation's ocean shipping

The walkout could cost the American economy roughly $5 billion a day, JP Morgan analysts estimate, as shipments are disrupted from busy terminals

Cutting port charges, buying vessels to help boost export ambitions: CII

The government's measures such as cutting certain port charges and purchasing additional container vessels by Shipping Corp will help boost export competitiveness, Chairman of the CII national committee on EXIM Sanjay Budhia said on Friday. He said that these initiatives will significantly benefit the Indian industry by easing export operations. "This move will reduce logistical bottlenecks, enhance cost efficiency for exporters, and improve the competitiveness of Indian goods in global markets," Budhia, who is also Managing Director of Patton Group, said. Industries will experience smoother trade flows, shorter delivery times, and lower costs, fostering growth in exports and making Indian products more attractive to international buyers, he added. The measures will also significantly improve export competitiveness by decreasing the overall costs involved in shipping goods and will help make Indian exports more competitively priced in international markets, Budhia said. "It would

Container shortage, freight spike shake maritime economy in India

India's merchandise exports also contracted by nearly 10 per cent in August. Both officials and traders highlighted the challenges in transportation