Folk Maritime Services Company, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF), has launched a new regional shipping route, the “India-Arabian Gulf Service.” This route connects key GCC ports, including Dammam and Umm Qasr, with major commercial ports in India, such as Nhava Sheva and Mundra. The inaugural vessel for this service, the “Asterius,” […]
Hapag-Lloyd has revised its earnings forecast for 2024, following the lead of its upcoming Gemini Cooperation partner, Maersk. The German shipping line attributes this upward adjustment to stronger-than-expected demand and improved freight rates. In its preliminary figures for the first nine months of 2024, Hapag-Lloyd reported an EBITDA of approximately USD 3.6 billion (EUR 3.3 […]
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 […]
Revolutionizing Warehouse Leasing in the UAE Dubai Customs is excited to announce the launch of an innovative digital platform, likened to the ‘Airbnb of warehouses.’ Unveiled at Gitex Global 2024, this platform is designed to streamline the registration and leasing process for various warehouse types, from dry storage to climate-controlled facilities, all through a centralized […]
The maritime industry stands on the brink of a technological revolution. As one of the oldest forms of global transportation, shipping has historically lagged in adopting new technologies. However, the rise of artificial intelligence (AI), advanced analytics, and enhanced connectivity is ushering in a transformative era that promises to redefine maritime operations. The Imperative for […]
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 […]
A.P. Moller – Maersk celebrated the naming of its latest dual-fuel methanol container vessel, Alexandra Maersk, today at the Port of Felixstowe, England. This 16,000 TEU vessel is the fifth in a series of innovative ships, reinforcing the company’s commitment to sustainable shipping. Mike Kane, the UK’s Maritime Minister, highlighted the significance of this vessel […]
SEA-LNG, an industry coalition, is emphasizing the rapid growth of LNG-fueled vessels within the global fleet and the ongoing investments from major shipping companies in this emerging sector. Established eight years ago, SEA-LNG advocates for LNG as a viable marine fuel option, highlighting significant advancements in addressing environmental concerns related to methane emissions. According to […]
Videos released from both the Houthis and the crew of the Cordelia Moon (163,288 dwt) provide stark contrasts in the narrative surrounding the recent attack on the tanker. The incident occurred on October 1 while the empty crude oil tanker was en route north through the Red Sea toward Suez, approximately 64 nautical miles from […]
Oil prices experienced a slight uptick due to ongoing conflicts in the Middle East and rising economic activity in the world’s largest oil-consuming nations, the US and China. These factors have heightened expectations for increased oil demand. However, the prospect of Saudi Arabia boosting its oil production in December has tempered further price increases. As […]
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