Global economy faces biggest headwind from inflation
Global inflation is spreading to a wider range of goods and services, as the rapid recovery in spending overwhelms the short-term ability of manufacturers, freight firms and service providers to…
IMF: ‘Great financing divide’ between rich, poor nations slows recovery
Economic growth in poorer countries will likely lag pre-pandemic expectations for years, given gaps in vaccination rates, revenue growth and the ability to borrow, the International Monetary Fund IMF said…
Oil consumption to reach its peak after 2025 — IEA forecast
The global demand for oil will eventually start to decline in the long-term perspective under any scenario of de-carbonisation of national economies, the International Energy Agency IEA said in its…
France seizes ton of Cocaine detains bulker crew
French authorities are reporting a record seizure of more than a ton of cocaine worth tens of millions of dollars from a Liberian registered bulker as it entered the English…
ICS presents CO2 plans, says govts, IMO must act
In the lead-up to the UN’s climate conference and the IMO’s next round of meetings on the industry’s efforts to decarbonise, organisations continue to put forth positions. The International Chamber…
Seven workers killed in two months at Bangladesh scrapyards
NGO Shipbreaking Platform is reporting that seven workers lost their lives in five separate incidents over the past two months at the shipbreaking yards in Bangladesh. The group, which is…
World to reach peak oil demand before 2030 – TotalEnergies
Global oil demand is expected to peak before 2030, earlier than previously projected, TotalEnergies forecast on Monday. The French oil major – which had previously forecast the peak happening around…
Maersk selling container manufacturing business to CIMC in $987.3m deal
AP Moller - Maersk is selling its reefer container manufacturing company to China International Marine Containers CIMC in a $ deal. The sale of Maersk Container Industry MCI to Chinese…
Kenya removed from piracy red list
The global shipping industry has removed Kenya maritime waters within the Indian Ocean from the piracy red list, 12 years after it was designated a high-risk area HRA. The move…
Oil gains for 5th day amid supply constraints
Oil prices rose for a fifth straight day on Monday with Brent heading for $80 amid supply concerns as parts of the world sees demand pick up with the easing…
