Tanker rates on certain routes responded almost immediately to Russia’s three-pronged attack on Ukraine last Thursday. Freight rates for tankers set to load in both Baltic and Black Sea ports rocketed, with Baltic rates spiralling 240% within hours.

The UK can take steps to maintain its position as a leading maritime nation, according to Maritime London chair Harry Theochari.

Multiple international container lines have announced they will not call Ukraine ports, while Russian services generally remain available.

The privately-owned Chinese yard, Nanjing Huatai Shipbuilding, has filed for bankruptcy with district courts.

Over the last decade the Maritime Anti-Corruption Network (MACN) has collected reports of over 45,000 incidents through its anonymous reporting system.

In post-renewal releases yesterday, some P&I Clubs congratulated themselves on achieving their renewal goals and thanked members for their continued support. However, intermediaries involved in the increasingly frenetic run-up to Sunday’s deadline...

Cargo onboard the burning car carrier Felicity Ace has an estimated value of $401m, according to risk analysts Russell Group.

Singapore has extended withholding tax exemption on lease agreements under the country’s incentives for the maritime sector.

Secondhand ship sales set a new record in 2021, according to data from Clarkson Research, with 2,507 assets changing hands and S&P spending of $47bn edging past the existing record of $46bn set in 2007.

Chinese chemical products supply chain service provider Xingtong Shipping is preparing for an Initial Public Offering (IPO) on the Shanghai Stock Exchange to fund business expansion.