Shipping giants steer clear of Russia as Western net tightens
The world’s biggest shipping lines MSC and Maersk on Tuesday suspended container shipping to and from Russia, deepening the country’s isolation as its invasion of Ukraine sparks an exodus of…
World poverty to rise as climate change hits food supplies-UN panel
Climate change and extreme weather are already hurting the world economy and if unchecked will plunge millions more into poverty while pushing up food prices and disrupting trade and labour…
Over 45,000 incidents of maritime corruption reported in 10 years
Money-in-envelops Over the last decade the Maritime Anti-Corruption Network MACN has collected reports of over 45,000 incidents through its anonymous reporting system. The incidents collated through MACN’s Anonymous Incident Reporting…
Container lines skip Ukraine calls over suspended commercial shipping
Maersk Silverstream Multiple international container lines have announced they will not call Ukraine ports, while Russian services generally remain available. MSC, Maersk and CMA CGM all released operation updates announcing…
Oil price escalates as Russia invades Ukraine
Global sea trade suffered another major knock this morning as Russia’s invasion of Ukraine drove oil prices up by about eight per cent something that will filter through to already…
Over 50% of women seafarers suffer bullying, harassment-study
Little has changed for the picture of bullying and harassment for those working at sea since 1995 with it remaining a challenge for the maritime industry particularly among women. A…
Tight oil market could see prices hit $125 in Q2, says JP Morgan
Shortfalls in OPEC+ production and spare capacity concerns are likely to keep the oil market tight and prices could hit $125 per barrel as early as the second quarter of…
‘Clogged supply chains won’t hold back trade’
World trade normalises and continues to grow despite challenges. Going into 2022, we expect trade growth rates to return to their pre-pandemic levels in line with a continued but weakened…
Ship fuel price surges, may eclipse all-time high
A tanker vessel on high sea It should come as no surprise: Just as you’re paying a lot more for gasoline at the pump, ship operators are paying a lot…
Supply chain chaos, port gridlock could drag into 2023
A laden container vessel The timetable for a container shipping correction keeps receding into the distance, which is either very good news or very bad news, depending upon which side…
