Explosion on board kills Captain
OCEAN HARMONY Explosion occurred on board of general cargo ship OCEAN HARMONY, berthed at Pier 1, Incheon Inner Harbor, at around 2240 Seoul time September 23. The explosion led to…
International Marine Insurers report rising cargo premiums
The International Union of Marine Insurance IUMI reports an increase in the 2021 cargo insurance premium base (from 2020) of eight per cent to USD billion alongside an improvement in…
Russia to flood Asia with fuels as Europe ramps up sanctions
Russia is likely to ship more fuel to Asian nations in the coming months as Europe tightens sanctions to step up its response to the invasion of Ukraine. The country…
OPEC, allies alert to changes in crude oil market
The secretary general of the Organisation of the Petroleum Exporting Countries OPEC, Haitham Al-Ghais, said the bloc and its allies remain “alert” to any possible changes in the global oil…
OPEC retains world oil demand growth forecast
Crude oil price movements Crude oil spot prices fell for the second-consecutive month in August. The North Sea Dated benchmark declined by $13/b month-on-month (m-o-m), while Dubai fell by almost…
Europe’s shift from Russian oil creating ‘massive stimulus’ for tankers
Photo: EuronavEuronav VLCC Anne on sea trials. Tankers generally, but Very Large Crude Carriers VLCCs in particular, will benefit spectacularly as Europe’s energy trades transform and the ban on Russian…
Super typhoon disrupts Asian shipping, closes Korean shipyards
A massive super typhoon is moving north along the Asian coast disrupting shipping, air travel, and businesses. South Korea is preparing for a direct hit from Typhoon Hinnamnor after it…
Europe heading for recession as cost of living crisis deepens
The euro zone is almost certainly entering a recession, with surveys on Monday showing a deepening cost of living crisis and a gloomy outlook that is keeping consumers wary of…
Container shipping records $63.7bn Q2 profits, no collapse imminent, says report
Photo: Hapag-LloydHapag-Lloyd. The record profitability of the container shipping sector continued to grow in Q2 hitting an estimated $ in the second quarter of 2022, according to Blue Alpha Capital.…
NGO rescues ship with over 460 migrants stranded at EU Port
Photo courtesy of SOS Mediterranee Migrant crisis in Mediterranean SOS Mediterranee reports facing more distress cases than ever before. The Italian authorities permitted the Ocean Viking to finally dock on…
