In a major push to develop India’s maritime capabilities and transform the country into a global shipbuilding hub, Finance Minister Nirmala Sitharaman announced several transformative initiatives in the 2025 budget. Among the most significant is the creation of a ₹25,000 crore ($2.9 billion) Maritime Development Fund, aimed at the long-term financing of India’s shipbuilding and […]
In the first nine months of 2024, the Black Sea container terminals of Bulgaria, Romania, and Ukraine collectively handled 979,000 TEU (Twenty-Foot Equivalent Units), marking a significant 14% increase compared to the same period in 2023. This growth highlights the recovery of containerized trade, particularly in Ukraine, following the restoration of key maritime links to […]
BYD has unveiled the world’s largest RoRo (Roll-on/Roll-off) vehicle carrier, the BYD Shenzhen, which is capable of transporting up to 9,200 cars. This state-of-the-art vessel, named after BYD’s hometown, undocked from Yangzhou Port, located about three hours northwest of Shanghai. The ship measures 219 meters in length, 37.7 meters in width, and has a draft […]
Grain de Sail, a French sail cargo company and chocolatier, has unveiled its most ambitious project yet: the Grain de Sail III, a significantly larger sail cargo ship designed to enhance its operations. With a capacity of 200 TEU (approximately 2,800 metric tons), this new vessel aims to scale up the company’s sustainable maritime transport […]
DP World has announced the acquisition of 47,000 TEUs (Twenty-foot Equivalent Units) that are now registered and branded under the company. This strategic move significantly enhances DP World’s cargo capacity, allowing for a more agile response to customer needs. The addition of these containers ensures seamless access to vital container capacity, empowering customers to maintain […]
Iran appears to have halted or heavily cut back crude oil exports from its Single Buoy Mooring (SBM) off the Kooh Mobarak oil storage facility. The Kooh Mobarak SBM, 30 nautical miles west of Bandar-e Jask, is Iran’s only point of export outside the Gulf, and does not require passage through the Straits of Hormuz. It was designed […]
Hurricane Milton is rapidly intensifying as it moves across the Gulf of Mexico, now classified as a high-Category 5 storm, with sustained winds reaching 155 knots and a dangerously low central pressure of 897 mb. According to the National Hurricane Center (NHC), conditions could allow for further intensification overnight due to the warm waters of […]
Dubai Maritime City (DMC) has successfully completed significant infrastructure upgrades, enhancing its ship handling capacity and reinforcing Dubai’s position as a leading global maritime hub. The upgrades include retrofitting DMC’s ship lifts, introducing new ship cradles, and activating advanced substations and shore power supplies. With the installation of upgraded 6,000-tonne and 3,000-tonne ship lifts, DMC […]
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 […]
Australian authorities have arrested three men linked to a scheme to import $270 million worth of liquid methamphetamine, marking the latest significant drug-smuggling operation in a country known for its high methamphetamine demand. The operation came to light after Canada’s Border Services Agency (CBSA) intercepted a container in Vancouver, initially believed to be filled with […]
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