shipping News

‘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 …

Hijacked Orkim Harmony Oil Tanker Released by Pirates Who Escape

The hijacked oil tanker Orkim Harmony has been released by pirates, who fled in the ship’s rescue boat, Malaysian navy and maritime officials said on Friday. The Orkim Harmony, hijacked on June 11 off the Malaysian coast by pirates reportedly …

Update: Malaysian Navy Makes Contact With Pirates on Hijacked Oil Tanker

A Malaysian naval vessel has made contact with the pirates onboard hijacked tanker Orkim Harmony and is trying to persuade them to surrender, a maritime official said on Thursday. The tanker as of noon (0400 GMT) was in Vietnamese waters …

Iranian Boats Fired Shots Across Bow of Singapore-Flagged Ship in Persian Gulf

Four Iranian patrol boats fired warning shots across the bow of a Singapore-flagged merchant ship in the Persian Gulf on Thursday before it escaped into the territorial waters of the United Arab Emirates, according to the U.A.E.’s coast guard. “The …

Growing Yemen War Risk Threatens Vital Sea Routes; Premiums Likely to Jump

With Middle East giants Saudi Arabia and Iran squaring up on opposing sides in the Yemen war, the dangers to vital oil tanker and goods voyages are growing daily. Millions of barrels of oil pass through the Bab el-Mandeb and …

Truckers at Major California Port Strike Over Wages

Truck drivers who haul goods from the busiest port complex in the United States walked off the job Monday in a dispute over their wages and employee status, months after another West Coast labor conflict cost major delays in billions …

International Shipping Lines Suspend Port Calls to Yemen as Conflict Worsens

International shipping lines are being forced to scale back or suspend port calls to Yemen as the conflict gets worse, putting pressure on supplies of food as prices rise in local markets. Yemen imports more than 90 percent of its …

Report: Midwest Economy Still Strong, Growth to Continue

The economy remained strong in nine Midwest and Plains states in August, and a monthly survey of business leaders released Sept. 2 suggests growth will continue in the months ahead. The region’s overall economic index inched up to 57.2 last …