shipping News

21 Shipping Containers Fall Overboard off Hawaiian Islands

At least 21 shipping containers fell from overboard into the ocean near Hilo this week, the U.S. Coast Guard said. Nine of the 40-foot shipping containers were located and 12 remained missing, the Coast Guard said. The crew of the …

As Arctic Ice Melts, New Energy Shipping Trade Route Opens

A new trade route for energy supplies is opening up north of the Arctic Circle as some of the warmest temperatures on record shrink ice caps that used to lock ships out of the area. This year is likely to …

Arctic Winter Ice Covers 2nd Smallest Area on Record, Opening Region to Shipping

Winter sea ice on the Arctic Ocean covered the second smallest area on record this year, part of a thaw that is opening the region to shipping and oil exploration and may be disrupting weather far to the south, scientists …

Ships Must Meet Emission Rules or Be Deemed ‘Unseaworthy,’ Lose Insurance: IMO

Ships which do not meet cuts to the amount of sulfur they can burn in their engines risk being declared “unseaworthy,” the International Maritime Organization (IMO) said on Thursday. Shippers and refiner are not sure how they will comply with …

Gaps in Insurance Cover Expose Shipping Firms to Cyber Risks

Shipping companies grappling with the threat of cyber attacks on vessels are finding insurance policies often fall short, officials involved in both industries say, a risk that could feed through into global prices. Digitalization means electricity networks, emergency services, industry …

International Shipping Lanes Could Be at Risk from Escalating Yemen Conflict

Missile attacks from Yemen on Western military craft risk spilling over into nearby busy sea lanes which could disrupt oil supplies and also other vital goods passing through the tense area, shipping and insurance sources say. While shipping companies have …

Nerves on Edge After South China Sea Ruling; Insurance Rates Still Stable

Global oil and shipping markets reacted nervously on Tuesday after an international arbitration court ruled against Beijing’s claims across large swathes of the South China Sea, fueling geopolitical tensions in the vital waterway. A tribunal in The Hague, Netherlands, found …

‘Brexit’ May Threaten UK Shipping, Marine Insurance Sectors

If Britain votes to leave the European Union, the country’s shipping sector faces years of disruption as trade agreements get reworked and currency volatility leads to higher costs at a time when the industry is battling its worst global downturn. …

Shipping Industry Had Safest Year in a Decade in 2015: Allianz Report

The shipping industry saw its safest year in a decade in 2015, according to a new report from Allianz Global Corporate & Specialty (AGCS), with 85 total losses reported worldwide last year, down from 88 in 2014 and well below …

Thawing Arctic Ice Creates New Environmental Risks as Shipping Routes Open

The Arctic is thawing even faster than lawmakers can formulate new rules to prevent the environmental threat of heavy fuel oil pollution from ships plying an increasingly popular trade route. Average Arctic temperatures are rising twice as fast as elsewhere …