Page 2 - Shipping

US-China tariff truce: Indian shippers see cargo rush, freight rates surge

Indian shippers face double whammy of China rush, Ind-Pak restrictions

Pahalgam attack: Pakistan shuts ports for Indian ships in tit-for-tat move

In a directive issued by Pakistan's Ministry of Maritime Affairs, Indian flag carriers would no longer be permitted at any Pakistani port

India supports first global carbon tax on shipping industry at UN meet

India and 62 other countries on Friday voted in favour of the world's first-ever global carbon tax imposed on the shipping industry by the United Nations' shipping agency. The decision, taken at the International Maritime Organisation (IMO) headquarters in London after a week of intense negotiations, aims to reduce greenhouse gas emissions from ships and promote cleaner technologies. The move marks the first time a global carbon tax has been imposed on an entire industry. Starting 2028, ships will either have to shift to lower-emission fuels or pay a fee for the pollution they generate. The tax could generate up to USD 40 billion by 2030. However, all the funds will be used exclusively to cut emissions in the shipping industry and not for supporting climate action in developing countries. Despite this breakthrough in global climate policy, carbon pricing is expected to reduce shipping emissions by only 10 per cent by 2030, far short of the IMO's own target of at least 20 per cent.

Cordelia Cruises to expand fleet with two ships from Norwegian Cruise Line

With this, Cordelia Cruises, operated through Waterways Leisure Tourism in India, will more than double its current capacity, enabling it to explore new regions

Centre plans to evacuate more thermal coal through coastal shipping

Plan to evacuate more thermal coal via coastal shipping as Railways faces network congestion woes

SaaS firm Unicommerce bets big on Shipway to take on rival Shiprocket

The SaaS firm recently acquired remaining 57.24% in Shipway after securing 42.76% in December last year

Shipping chaos may continue till demand moderates

Since the Houthi attacks on commercial vessels started in the Red Sea towards the end of last year, major shipping lines have been re-routing their vessels around Africa

Greek-owned ship sinks in Red Sea after attack by Iranian-backed Houthis

Following the attacks by the Hamas terror group, tensions have boiled in the Middle East, with key regional actors condemning the humanitarian crises caused by the war, as reported by CNN

Baltimore bridge collapse: Attorneys seek to keep crew from returning home

Attorneys are asking a federal judge to prevent crew members on the cargo ship Dali from returning to their home countries amid ongoing investigations into the circumstances leading up to the deadly collapse of the Francis Scott Key Bridge in March. Eight of the Dali's crew members were scheduled to debark the ship and return home as early as Thursday, according to emails included in court filings Tuesday. The roughly two dozen total seafarers hail from India and Sri Lanka. That would mark the first time any of them can leave the ship since it lost power and crashed into one of the bridge's supporting columns shortly after leaving Baltimore on March 26. In the court filings, attorneys representing the City of Baltimore said the men should remain in the U.S. so they can be deposed in ongoing civil litigation over who should be held responsible for covering costs and damages resulting from the bridge collapse, which killed six construction workers and temporarily halted most maritime

Centre targets Rs 10,000 crore from monetisation of ports in FY25

Looks to monetise assets worth Rs 10,000 crore in FY25

Ship that caused Baltimore bridge collapse had blackout hrs before leaving

Investigators probing the March collapse of the Francis Scott Key Bridge in Baltimore said in a preliminary report on Tuesday the cargo ship Dali experienced an electrical blackout about 10 hours before leaving the Port of Baltimore while undergoing maintenance. The power outage was caused by a crewmember mistakenly closing an exhaust damper, causing the ship's engine to stall, the report issued by the National Transportation Safety Board said. The ship lost power again and crashed into one of the bridge's supporting columns shortly after leaving the port on March 26, which brought the bridge down in seconds. A full investigation could take a year or more, the agency said. The board launched its investigation almost immediately after the March 26 collapse, which sent six members of a roadwork crew plunging to their deaths. Investigators boarded the ship to document the scene and collect evidence, including the vessel's data recorder and information from its engine room, according

Shipping is a dirty business, but cleaning it up is lucrative; here's why

Investor's love for this exciting new company category may wane when the EV market picks up again, or the smartphone sector finally returns to growth. But, for now, ship maintenance is exciting

Ships moved 9% faster at Indian major ports in FY24 as infra improved

Greater participation by private companies is another reason for improvement

Baltimore collapse: Ship crew to remain on board until probe is completed

The crew of 20 Indians and a Sri Lankan of the container vessel that collided with a key Baltimore bridge last week is busy with their normal duties and will remain on board until the investigation into the accident is completed. It is confirmed there are 21 crew members on board. The crew members are busy with their normal duties on the ship as well as assisting the National Transportation Safety Board and Coast Guard investigators on board," a spokesperson of Grace Ocean Pte and Synergy Marine told PTI. The crew is on board the container vessel Dali that collided with the 2.6-km-long four-lane Francis Scott Key Bridge over the Patapsco River in Baltimore in the early hours of March 26. The 984-foot cargo ship was bound for Colombo, Sri Lanka. On how long the crew would have to stay on board the ship, the spokesperson said, At this time, we do not know how long the investigation process will take and until that process is complete, the crew will remain on board. The Singapore-flag

Baltimore bridge collapse: Crews continue removing twisted steel, concrete

As divers assisted crews with the complicated and meticulous operation of removing the steel and concrete from the fallen Francis Scott Key Bridge in Baltimore, some near the site took time on Easter Sunday to reflect on the six workers presumed to have plunged to their deaths. As cranes periodically swung into place and workers measured and cut the steel to prepare to lift sections of twisted steel, Rev. Ako Walker held a Mass in Spanish at Sacred Heart of Jesus, about 5 miles (8 kilometers) up the Patapsco River from the collapse. Yes we can rebuild a bridge, but we have to look at the way in which migrant workers are treated and how best we can improve their situation as they come to the United States of America, Walker said of the men who were from Mexico, Guatemala, Honduras and El Salvador and were patching potholes. Dive teams were in the river Sunday surveying parts of the bridge underwater and checking on the ship to ensure it can be safely floated away once the wreckage is

Cranes arriving to remove wreckage from deadly Baltimore bridge collapse

The largest crane on the Eastern Seaboard was being transported to Baltimore so crews can begin removing the wreckage of a collapsed highway bridge that has halted a search for four workers still missing days after the disaster and blocked the city's vital port from operating. Maryland Gov. Wes Moore said the crane, which was arriving by barge and can lift up to 1,000 tons, will be one of at least two used to clear the channel of the twisted metal and concrete remains of the Francis Scott Key Bridge, and the cargo ship that hit it this week. "The best minds in the world are working on the plans for removal, Moore said. The U.S. Army Corps of Engineers for the Baltimore District told the governor that it and the Navy were mobilizing major resources from around the country at record speed to clear the channel. This is not just about Maryland, Moore said. This is about the nation's economy. The port handles more cars and more farm equipment than any other port in America. He warned of

Baltimore bridge collapse: New structure would take years, cost $400 mn

Rebuilding Baltimore's collapsed Francis Scott Key Bridge could take anywhere from 18 months to several years, experts say, while the cost could be at least $400 million or more than twice that. It all depends on factors that are still mostly unknown. They range from the design of the new bridge to how swiftly government officials can navigate the bureaucracy of approving permits and awarding contracts. Realistically, the project could take five to seven years, according to Ben Schafer, an engineering professor at Johns Hopkins University. The lead time on air conditioning equipment right now for a home renovation is like 16 months, right?" Schafer said. He continued: So it's like you're telling me they're going to build a whole bridge in two years? I want it to be true, but I think empirically it doesn't feel right to me. Others are more optimistic about the potential timeline: Sameh Badie, an engineering professor at George Washington University, said the project could take as .

Baltimore accident: Embassy in touch with Indians onboard ship, says MEA

There are 20 Indians onboard the cargo ship which hit a bridge in Baltimore in the US a few days ago and the Indian Embassy is in close touch with them and the local authorities, the Ministry of External Affairs said on Thursday. The 2.6-km-long, four-lane Francis Scott Key Bridge over the Patapsco River in Baltimore, came crashing down after the 984-foot ship 'Dali' collided against it in the early hours of Tuesday. "Our information is that there are 21 crew members, of which 20 are Indians. All of them are in good shape, good health. One of them got injured slightly, needed to have some stitches, and stitches have been given. And, he has gone back to the ship," MEA Spokesperson Randhir Jaiswal said in response to a query during his weekly media briefing here. He also said the Indian Embassy in the US is in "close touch with the Indians onboard the ship and also local authorities".

Indian cos explore logistics options amid Red Sea supply chain disruptions

Companies are exploring alternative logistics options, including finding different shipping routes to minimise supply chain disruptions as the Red Sea crisis enters its fourth month

The Red Sea crisis: Imported fertilisers paint mixed price picture

Annual fertiliser subsidy would remain within the FY24 Budget estimate of Rs 1.75 trillion and could have been lower had the crisis not erupted