The drought in the Panama Canal and attacks on the shipping in the Red Sea are creating an asset imbalance in container shipping akin to that seen at the start of the Covid pandemic in 2020.
As the EU Emissions Trading System (EU ETS) became enforceable from 1 January conflict in the Red Sea has seen many vessels divert to the much longer route around the Cape of Good Hope, both impacting container freight rates.
The Port of Baku on the Caspian Sea sees itself as an alternative for moving cargoes between Europe and China and part of the backbone of a transport corridor between the two.
Singapore shipyard group Seatrium has secured a contract from Shell Offshore Inc to construct and integrate the hull, topsides and living quarters of the Sparta semi-submersible Floating Production Unit (FPU).
The Brazilian Federal Prosecutors’ Office has dropped corruption charges against a former Sembcorp Marine (Sembmarine) employee and a former consultant to the Singapore shipyard group.
Cosco Shipping Technology, a subsidiary of Cosco Shipping, has announced it is joining in One Sea autonomous shipping association, the first member from China.
