Page 3 - Shipping

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

Apollo Supply Chain launches e-commerce fulfilment, D2C shipping service

Apollo group's logistics services arm Apollo Supply Chain on Wednesday announced the launch of a new comprehensive e-commerce fulfilment and shipping service for D2C (direct-to-consumers) brands. With strategically located fulfilment centers across cities including Delhi NCR, Kolkata, Guwahati, Bengaluru, Chennai, and Hyderabad, the new service "alfa" is aimed at cutting logistics cost, improve delivery speed, a company statement said. "India's consumer commerce business is witnessing an influx of D2C companies with a potential to become a USD 60-billion sector by 2027," said Akshat Pushp, Chief Business Officer at Apollo Supply Chain. "Through alfa, Apollo Supply Chain aims to be a part of India's D2C success story by ensuring tailored supply chain solutions," he said. The new service, according to him, specialises in e-commerce fulfilment and shipping services, catering to a diverse clientele encompassing D2C brands in early, growth (venture funded), and late stages, as well as .

Red Sea crisis pumps up global container prices, ocean freight rates

At $3,072, prices per 40-foot container highest in 15 months

Red Sea crisis may push shipping costs by 60%, insurance by 20%: GTRI

The increasing Red Sea crisis may impact trade as it is expected to push shipping costs by up to 60 per cent and insurance premium by 20 per cent, a report by economic think tank GTRI said on Saturday. This conflict could also result in increased shipping costs (40-60 per cent) and delays due to rerouting (up to 20 days more), higher insurance premiums (15-20 per cent), and potential cargo loss from piracy and attacks. The situation around the Bab-el-Mandeb Strait, a crucial shipping route connecting the Red Sea and the Mediterranean Sea to the Indian Ocean, has escalated due to recent attacks by Yemen-based Houthi militants. Due to these attacks, the shippers are taking consignments through the Cape of Good Hope, resulting in delays of about 20 days. The Houthi conflict's disruption of the Red Sea shipping lanes significantly impacts Indian trade, especially with the Middle East, Africa, and Europe, the Global Trade Research Initiative (GTRI) said. It said that India, heavily rel

Yemen's Houthi group strikes two Liberian vessels with missiles in Red Sea

Yemen's Houthi group strikes two Liberian vessels with missiles in Red Sea

India will shop for a flexible agenda for shipping at COP 28

The possible landing of the container ship shall signal the importance India attaches to the targets for the greening of the shipping sector and larger maritime sector

Panama Canal drought and how it is impacting global trade, supply chain

The Panama Canal Authority has warned that water restrictions may continue into 2024, making it important for shipowners to create a contingency plan that does not further disrupt global supply chain

Seacoast Shipping Services set to resume agreement with Dubai's Maria Shipping

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20 Indian rescued from burning vessel off the Dutch coast return home

A group of 20 injured Indian crew members rescued after a major fire broke out on board a cargo vessel carrying nearly 3,800 cars off the Netherlands coast have safely returned home while the mortal remains of one sailor who was killed in the incident are being repatriated, Indian authorities have said. An Indian crew member was killed and 20 others were injured in the fire that broke out on July 25 on board the Panama-registered ship Fremantle Highway, which was en route from Germany to Egypt. Several crew members were forced to jump overboard. The ship was manned entirely by Indians. "20 Indian crew rescued from ship Fremantle Highway have safely returned to India over the past week. Thank Dutch authorities for their support & assistance as well as our sailors for their fortitude & courage through this difficult time," the Indian Embassy in the Hague said on platform X, formerly known as Twitter. "Mortal remains of one crew member who unfortunately passed away are being ...

Seacoast Shipping Service Limited to Secure Rs. 49 Crore via Share Rights Issue, Record Date Confirmed as July 13th, 2023.

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Ship briefly runs aground in Egypt's vital Suez Canal, refloated later

The Xin Hai Tong 23 ran aground at the southern mouth of the Suez Canal, tracking data showed

Shipping has largely relied on one fuel. It now needs many: Sparklines

While emissions in the global power sector may be close to peaking, international shipping emissions show no signs of doing the same

Centre sets 2030 as target to become global hub for green shipping

New policy launched to convert tugboats at major ports into green tugs

How shipping industry is trying to clean up its biggest, dirtiest problem

A 2022 report concluded container ships can reduce fuel consumption and CO2 emissions by 14% per voyage if they optimize their speeds

Western Railway chugs into 100-million tonnes freight club in FY23

First ever non-coal zone to achieve the feat

Global shipping growth at risk from economic gloom, says UNCTAD

The world's largest investment banks expect global economic growth to slow further in 2023 following a year roiled by Russia's invasion of Ukraine and soaring inflation