News Flash

MOL and GAIL to Strengthen Partnership- Sign Time Charter Contract for Newbuilding LNG Carrier and Joint Ownership of Existing LNG Carrier

On December 20th, Mitsui O.S.K. Lines, Ltd.(MOL) and GAIL (India) Limited (GAIL;Headquarters: New Delhi), a central public sector undertaking under...
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Dozens of merchant ships stuck off Iran as payment snags bite

Dozens of merchant ships with grains and sugar are stuck outside Iranian ports after weeks of delays as payments snags...
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PIL makes first CA reefer delivery of fresh avocadoes to Singapore

Pacific International Lines (PIL) is pleased to announce that it has made its first delivery of fresh avocadoes to Singapore...
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Rajya Sabha passes Maritime Anti-Piracy Bill

Rajya Sabha on Wednesday passed a Bill which the government said would provide an effective legal instrument to combat maritime...
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Maritime Employees Threaten Shutting Ports Over IOCs Denial To Employ Dockworkers

The Maritime Workers Union of Nigeria (MWUN) has reportedly called on the Federal Government to compel International Oil Companies (IOCs)...
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India extends halt on futures trade in key farm commodities by a year

India’s market regulator extended the suspension of trading in derivative contracts of key farm commodities by a year as the...
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China tightens verification of ships’ energy consumption data

From 22 December 2022, ships trading to Chinese ports must record their energy consumption data in accordance with the requirements...
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India’s post-COVID spending boom drives two-speed economy

India is set to be the world’s fastest growing major economy in the year ahead, as a post-pandemic retail boom...
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Global economy in steep slowdown: World Bank

After about a year of uncertainty in 2022, global economy is in a steep slowdown, according to the latest report...
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China keeps benchmark lending rates unchanged for 4th consecutive month

China kept its benchmark lending rates unchanged for the fourth consecutive month on Tuesday, matching expectations, but markets increasingly see...
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LNG port boosts German gas supplies

Germany took a huge step toward weaning itself off Russian natural gas on the weekend, with the opening of a...
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Cargo flows in near future will not return to pre-war volumes

This year with Russia’s war in Ukraine demonstrated that the cargo flows, mot believably, will not return to the previous...
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Shipping giant MSC faces more fallout from cocaine cases

Mediterranean Shipping Co. (MSC), the world’s largest ocean carrier, is facing ongoing fallout from multiple drug smuggling cases that occurred...
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170 wind turbines installed: Record-setting year for EFG Scandinavia

EMS-Fehn-Group’s heavy lift and crane professionals of EFG Scandinavia AS are looking back on a record-setting 2022. Over the past...
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Ship Recycling Market Still Under Pressure

The ship recycling has remained under pressure, despite a few positive signs here and there. In its latest weekly report,...
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United Maritime Announces Profitable Sale of an LR2 Tanker for $39 million

United Maritime Corporation, announced today that it has entered into a definitive agreement with an unaffiliated third party for the...
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Shipping Corporation hits 52-week high; up 17% in 2 days on demerger update

Shares of Shipping Corporation of India (SCI) hit a 52-week high of Rs 151.30 as they soared 8 per cent on the...
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Indian Ocean High Risk Area for piracy to be removed on 1 January

At 00:01 UTC on 1 January 2023, the Shipping Industry Indian Ocean High Risk Area (HRA) for piracy will be...
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New technologies in shipbuilding: warranty claims

Increased focus on decarbonisation has led to more shipbuilding involving state of the art technologies, such as: duel-fuel LNG and...
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IIFCL sanctions ₹8,244 crore loans to develop 20 ports

State-owned IIFCL on 18 December announced that it has sanctioned ₹8,244 crore loans to about 20 projects to help add...
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