World Bank, Bangladesh sign multi-million financing package to enhance trade
On 23 April, Bangladesh and the World Bank signed two financing agreements totaling US$850 million to help the country develop the Bay Terminal deep-sea port and modernize the national social protection system to accelerate job creation and inclusive growth. “To remain on a sustainable growth path, Bangladesh must create quality jobs for its population, particularly […]
China starts Yangtze River container Ro-Ro shipping link to Africa
China has initiated the first river-ocean vehicle cum container shipping route. As part of the Belt and Road scheme, Italian ro-ro specialist Grimaldi Lines is deploying two Container Ro-Ro (ConRo) ships to transport Chinese-made cars and containerised cargoes from Taicang Port along the Yangtze River to Durban, South Africa and Lagos, Nigeria. Chinese authorities said […]
Red Sea Disruptions May Create Strategic Openings for China
The ongoing Red Sea crisis has escalated at a pace and scale with far-reaching geopolitical dimensions. US officials have confirmed that Iranian and Russian entities have long supported Houthi targeting capabilities. Recent disclosures now point to Chang Guang Satellite Technology, a Chinese firm, as a new actor allegedly supplying satellite imagery to the Houthis. This content […]
ZIM ordered to pay Samsung $3.7m for US demurrage violations
Israeli carrier ZIM has been ordered to pay about $3.7m to Samsung Electronics America (SEA) for violating the US Shipping Act. The American affiliate of the Korean manufacturing giant filed a complaint with the Federal Maritime Commission (FMC) in October 2022, claiming Zim engaged in “unreasonable practices, retaliation, refusal to deal, and improper invoices for […]
Wärtsilä inks agreement for Caribbean island decrabonisation
Technology group Wärtsilä has signed a decarbonisation services agreement with Aqualectra, the energy utility company of the Caribbean island of Curaçao. The agreement will see Wärtsilä’s payments directly tied to achieving key performance indicators: how effectively it maximises renewable energy use, reducing CO2 emissions intensity, lowering costs, and enhancing energy reliability on Curaçao. The agreement […]
Japan third in shipowning; Tokyo places fourth globally
Japanese vessel owners currently control 12% of the global fleet’s deadweight tonnage (DWT), making Japan the world’s third-largest shipowning nation. According to Niels Rasmussen, Chief Shipping Analyst at BIMCO, Japan is one of only three countries—alongside China and Greece—where owners hold more than 10% of global DWT capacity. The global fleet, totaling 2.4 trillion deadweight […]
Geneva Dry Dialogues: GeoServe
With so many digital solutions out there, the challenge isn’t just technology—it’s integration, usability, and execution, says Alok Srivastava, the managing director of GeoServe, a voyage management solution, days ahead of his visit to Switzerland to attend Geneva Dry, the world’s premier commodities shipping summit. “Most tools solve just one problem, leaving operators juggling multiple […]
Small parcel exports to be hit by Trump policies
Single shipments out of China will be one of the hardest hit industries as consolidation in containers for single parcels will no longer be exempt from duty, and essentially, customs-free shipments will lose that status on 2 May. This content is locked Select a CN Premium Subscription Package To Unlock The Content! Remember Me Lost […]
D’Amico Fratelli seals a premium with LR2 sale
Italian owner D’Amico Fratelli, a family-run firm independent of the larger d’Amico Group, has let go of a 2009-built LR2 tanker for a premium. The Mare Nostrum, now named Mare, is the first Japanese-built LR2 sold this year. The Mare is now part of Turkey’s Cape Gemi fleet. The110,500 dwt, Mitsui Ichihara-built vessel changed hands […]
World’s second-largest owner opens Washington office
In a sign of the times, Japan’s Mitsui OSK Lines (MOL), the world’s second-largest shipowner, will open a new office in Washington, DC. “As global challenges continue to evolve-ranging from geopolitical uncertainties and stricter environmental regulations to increasingly intricate supply chains-strengthening cooperation with governments and international organizations has become more crucial than ever,” the company […]