Ship Recycling Market Remains Jittery
As threats of trade wars loom, global shipping already seems to be reacting in kind with the Baltic Dry Exchange falling to its lowest since February 2023, says cash buyer GMS. This marks a clear shift towards easing freight rates as a gradually increasing number of over-aged assets have been making their way towards the bidding tables since the start of 2025.“Incoming Chinese New Year holidays has…
Trump Repeats Call for OPEC Action Against Russia
Oil prices slipped on Monday after U.S. President Trump called on OPEC to reduce prices following the announcement of wide-ranging measures to boost U.S. oil and gas output in his first week in office.Brent crude futures LCOc1 dropped 53 cents, or 0.68%, to $77.97 a barrel by 0430 GMT after settling up 21 cents on Friday.U.S. West Texas Intermediate crude CLc1 was at $74.16 a barrel, down 50 cents…
Canadian Coast Guard College Celebrates 60 Years
The Canadian Coast Guard College is celebrating its 60th anniversary year by looking back on a history of excellence and looking forward to a future of innovation and inclusion.Through a $90 million dollar investment from Fisheries and Oceans Canada, the Canadian Coast Guard College has benefited from recent campus upgrades. Facilitated by Public Service and Procurement Canada, extensive work was done to modernize and expand the library…
One Thousand Vessels Now Fly Portuguese Flag
The International Shipping Register of Madeira (MAR) has officially reached 1,000 registered vessels, marking a key moment in the growth of Portugal's flag within Europe.In the 11 years since EUROMAR's establishment, nearly 200 shipping companies from around the world have chosen MAR.Albrecht Gundermann, Co-Managing Director and founder of EUROMAR, states: “The development of the register is excellent.
Fincantieri Builds Partnerships in Saudi Arabia
Fincantieri has signed a series of Memorandum of Understanding (MoU) in Saudi Arabia. These agreements underline the company's interest in this region following the establishment of the subsidiary Fincantieri Arabia for Naval Services in 2024.The agreements reached testify to Fincantieri's strategic commitment to promoting innovation, sustainability and industrial development through a series of collaborations…
DOI Implements GoM Name Change
As directed by the President, the US Department of Interior (DOI) has announced that Gulf of Mexico (GoM) will officially be known as the Gulf of America.The U.S. Board on Geographic Names, under the purview of the Department of the Interior, is working expeditiously to update the official federal nomenclature in the Geographic Names Information System to reflect the change, effective immediately for federal use.
Philippines Suspends Survey After “Harassment”
The Philippines said on Saturday it has suspended a scientific survey in the South China Sea after two of its fisheries vessels faced "harassment" and aggressive behaviour from China's coast guard and navy.Manila and Beijing have had a series of escalating confrontations in disputed waters of the South China Sea. China claims almost all the strategic waterway - through which $3 trillion in commerce moves annually - overlapping sovereignty claims by the Philippines…
CMA CGM Not Yet Willing to Risk Red Sea
French shipping and logistics group CMA CGM will continue to avoid the Red Sea even though it considers the region is more stable following the ceasefire agreement between Israel and Hamas, it said on Saturday.Shipping executives remain cautious about a return to the Red Sea, where Iran-backed Houthis have carried out more than 100 attacks on ships since November 2023, leading most shipping companies to divert vessels to other routes.CMA-CGM said in a statement the improved stability was "a posi
Another Baltic Undersea Cable Damaged
An undersea fibre optic cable between Latvia and Sweden was damaged on Sunday, likely as a result of external influence, Latvia said, triggering an investigation by local and NATO maritime forces in the Baltic Sea."We have determined that there is most likely external damage and that it is significant," Latvian Prime Minister Evika Silina told reporters following an extraordinary government meeting.Latvia…
