The possibility of a geopolitical crisis in the Taiwan Strait is one of the uncertainties facing the world economy.
Trade & economyThe Trade and economic effects of a Chinese invasion of Taiwan could easily exceed those of Russia’s invasion of Ukraine.
The economies of China and Taiwan are much larger than those of Russia and Ukraine (China’s economy is about 10 times larger than Russia’s, and Taiwan’s is about 4 times larger than Ukraine’s), and the exposure of the US economy to China and...
A container explosion killed three seafarers and injured one at the Port of Crotone, Italy, on 31 August, reports India Shipping News.
Container explosionThe accident occurred on working deck of offshore supply ship ASSO, reportedly inside a container during welding operations. The vessel was about to set sail for Malta. Immediately local land fire teams and tug were deployed, and the fire was extinguished in two hours.
According to the rescue team, a fourth seafarer from the vessel was taken to...
Investors are hopeful that this time might actually be different for hydrogen stocks after years of hoopla and false promises.
Climate urgencyA sudden sense of climate urgency in boardrooms and government alike has spiked interest in emerging technologies that could help reach aggressive decarbonization goals.
That includes hydrogen, especially hydrogen produced with renewable energy to create truly carbon-free fuel.
This so-called green hydrogen could decarbonize industrial processes, and...
https://mfame.guru/forget-green-hydrogen-pink-hydrogen-is-heating-up/
The UN appealed for the last $14 million needed to try and prevent a stricken oil tanker from triggering a disaster off Yemen that could cost $20 billion to clean up, says an article published on Today Rtl.
Floating storage platformThe decaying 45-year-old FSO Safer, long used as a floating storage platform and now abandoned off the rebel-held Yemeni port of Hodeida, has not been serviced since Yemen was plunged into civil war more than seven years ago.
If it breaks up, it could unleash a...
https://mfame.guru/un-issues-warning-over-time-bomb-oil-tanker/
A recent CBS News sources reports that Boeing 737 cargo plane makes emergency landing in Pacific Ocean off Hawaii; 2 pilots rescued.
What happened?A cargo plane makes an emergency landing in the Pacific Ocean off the coast of Hawaii early Friday.
The pilots of the Transair Flight 810 had reported engine...
https://mfame.guru/engine-trouble-cargo-plane-forced-to-make-emergency-landing/
An AP News sources says that AI-powered Mayflower, beset with glitch, returns to England.
Trans-Atlantic journey unsuccessfulNonprofit marine research organization...
https://mfame.guru/minor-mechanical-glitches-force-ai-ship-to-return/
https://mfame.guru/authorities-deny-oil-spill-from-sunken-ship/
Portuguese ship spills 10 KL oil 450 km off Chennai, says a Mangalorean news source.
Outcome of the investigationThe Coast Guard said that it had received...
https://mfame.guru/10-kl-of-oil-spilled-from-container-ship/
A huge backlog at China’s ports due to coronavirus outbreak could spoil your holiday shopping this year, says an article published in CNN.
Port clogs vs goods shortagesA coronavirusoutbreak in southern China has clogged ports critical to global trade, causing a shipping backlog that could take months to clear and lead to shortages during the year-end holiday shopping season.
What is the reason?The chaotic port clogging began unfolding last month when authorities in the southern Chinese province...
https://mfame.guru/chinas-port-backlogs-could-cause-global-goods-shortage/
The removal of the X-Press Pearl’s wreck from the seabed off Colombo, Sri Lanka, will start once the South Westerly Monsoon season ends, reports News First quoting the operator of the ill-fated vessel.
Clean-up after the monsoonThe period in question covers the month of June until September.
“Due to the exposed nature of the anchorage to the prevailing South Westerly Monsoon, it is likely that the wreck removal can only start after the SW monsoon subsides; caretaker services will remain on site...
https://mfame.guru/monsoon-hinders-wreck-removal-of-sunken-ship/