News

Despite reporting better than expected third quarter results and narrowing the range for its yearly income estimate, investor concerns continue to grow on the container shipping segment as Maersk pointed to continuing issues.

The fatal engine room fire aboard the dredger Stuyvesant in November 2024 that killed the vessel’s first engineer is the subject of a new report from the National Transportation Safety Board (NTSB). It finds that the lack of adequate checks after a routine maintenance procedure failed to detect a missing cap that contributed to the lube oil leak that started the fire.

Philippine officials are reporting that there were no injuries as two ferries made contact early on Tuesday, November 4, in an apparent docking accident. The Coast Guard believes it was due to the rough weather, as one of the strongest typhoons of the season was passing through the central Philippines.

The offshore wind energy sector in the U.S. suffered another setback on Tuesday, November 4, as part of the efforts of the Trump administration to derail future projects. The U.S. District Court for the District of Columbia granted a federal motion that clears the way for the Bureau of Ocean Energy Management to review the approvals and permits issued to the project during the Biden administration.

The Suez Canal Authority is continuing its outreach to the shipping industry as it reported its first significant increases in transit volume since the start of the regional crisis in late 2023. They reported the highest monthly rate of returning vessels in October since the beginning of the war in the Middle East.

The container sector continues to grow, with attention focused on the carriers’ total orderbook, which is more than 10 million TEU is the largest in history. While all the largest carriers continue to grow, two carriers, MSC Mediterranean Shipping Company and HMM, hit significant milestones in their strategies recently.

MSC Mediterranean Shipping Company confirmed the earlier reports that the world’s largest container carrier has committed to reflag vessels into the Indian registry. The move follows CMA CGM and Maersk, which have also moved ships to the Indian flag in response to new regulations and the Indian government’s desire to increase the amount of trade carried on domestic ships.

A product tanker operated by Stolt Tankers sailing near the coast of Somalia is reporting shots fired and a possible boarding attempt. It is the latest in a series of suspicious activities being reported in the past few days, increasing fears of renewed piracy in the region.

Iran appears to have accelerated the import of sodium perchlorate, the primary material used to manufacture ammonium perchlorate, which in turn makes up 70 percent of the standard fuel load of most of Iran’s solid-fueled ballistic missiles.

South Africa has temporarily shelved plans for establishing a shipping line to allow for further consultations. Early last month, the Cabinet approved the withdrawal of the Merchant Shipping Bill, which was tabled in parliament in May 2023.

The nautical publication and training company Witherby Group that has been equipping the shipping industry with nautical and navigational materials has acquired a new oceanographic research vessel to carry out coastal survey work in the strategic Sunda and Lombok Straits, on contract to the government of Indonesia. 

The U.S. Coast Guard has recommended criminal charges of seaman's manslaughter in connection with the barge collision that killed three young girls in Miami's inner harbor earlier this year. 

The Australian group Rising Tide, which calls itself “climate justice activists, staged another protest at the Port of Newcastle to call attention to its campaign against coal exports ahead of a larger event planned for the end of November, where they plan to blockade the port.

What started as a successful maritime rescue has turned into a mystery for Sri Lankan officials. The ship is now drifting eastward into the Bay of Bengal and toward the Andaman Sea, while Sri Lanka attempts to unravel its ownership, determine if it has insurance, and figure out exactly what is aboard.

The conversion of ships to dual-fuel methanol capabilities continues to gain momentum with COSCO Shipping Lines, the China Classification Society, and Everllence (formerly MAN), working together to undertake the first methanol conversion of a large two-stroke engine.

A report published in the Financial Times, quoting investigations carried out by TankerTrackers.com, a maritime intelligence company, has shown clear evidence of transshipments of sanctioned Russian oil at transfer locations in the Gulf of Oman.

The Trump administration has reached an unexpected agreement with the government of South Korea on sharing one of America's most closely-held capabilities - nuclear-powered submarine technology.

South Korea's shipbuilding industry is taking another swing at a domestically-designed LNG containment tank system, hoping to circumvent the steep licensing fees charged by French engineering firm GTT.  

More than a month after the fire-damaged containership Wan Hai 503 was granted permission for entry into its port of refuge, the owners, Wan Hai, report slow progress in the operation. The company highlighted some of the operational challenges for the salvage operation in its latest update.

A car carrier transiting the English Channel reported a fire and subsequently requested a tow. Unlike other recent incidents, however, the fire appears to have been limited to the engine room and not involving the cargo aboard the vessel.