French startup VELA, launched in November 2022, has successfully raised €40 million ($43 million) in a significant funding round. The capital will enable VELA to construct the world’s largest sailing cargo trimaran, aimed at providing a sustainable transatlantic cargo service for a variety of products, including pharmaceuticals, industrial parts, healthcare equipment, and cosmetics. This financing […]
Carriers are ramping up preparations for a potential strike at U.S. East Coast and Gulf Coast ports, with the situation between the International Longshoremen’s Association and the U.S. Maritime Alliance showing no signs of resolution. In response, shipping companies are introducing surcharges to mitigate anticipated disruptions while maintaining expectations of strong demand during the peak […]
Turkish authorities have confirmed that the crew of a Turkish-owned cargo ship is safe following a collision with a bulk carrier off the coast of Iran. The Turkish General Directorate of Maritime Affairs (DSGM) reports that the rescue operation involved coordination between the rescue centers in Ankara and Bandar Abbas. The incident involved the Knidos, […]
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