Maritime News

Somalia and Ethiopia are in negotiations over granting Ethiopia access to a port on the Indian Ocean, aiming to finalize a framework agreement by June, according to Ali Mohamed Omar, Somalia’s State Minister for Foreign Affairs.

• The framework will define:
  • The type of port to be offered.
  • The exact location on the Indian Ocean.
  • The cost and terms of access.
• Discussions follow a meeting between Somali President Hassan Sheikh Mohamud and Ethiopian Prime Minister Abiy...

https://mfame.guru/somalia-and-ethiopia-in-talks-over-indian-ocean-port-access/

• The Orient Express Corinthian will be 220 meters long, setting a new record for the largest sailing yacht.
• Combining cutting-edge technology with classic elegance, it promises an unparalleled luxury cruising experience.
• The yacht will focus on sustainable travel, offering an innovative and eco-friendly approach to upscale sea voyages.

The world’s largest sailing yacht, Orient Express Corinthian, is set to begin its inaugural journey on June 6, 2026, reports Robb Report.

The luxurious vessel,...

https://mfame.guru/worlds-largest-sailing-yacht-to-set-sail-in-2026/

• Enrique K. Razon Jr. Highlights Strong Performance and Growth.
• ICTSI Achieves 15% Revenue Growth and Highest Net Income in History.
• Nonrecurring Income and Expenses Contribute to 2024 Net Income Surge.

International Container Terminal Services, Inc. (ICTSI) has posted outstanding 2024 financials with record-breaking performance on all major indicators. The international terminal operator reported a 15% revenue growth to US$2.74 billion and posted its highest net income ever at US$849.8...

https://mfame.guru/ictsi-reports-record-breaking-financial-performance-for-2024/

• MSC Diletta Pulled from Asia-NEUR ‘Lion’ Service to Join West Africa Route.
• Average Vessel Size on Asia-West Africa Trade Grows by 50% Since June 2022.
• MSC Strengthens West Africa Network with Deployment of Larger Vessels.

Last week, MSC reported the deployment of 23,000+ TEU ships on their Asia-West Africa (WAF) ‘Africa Express’ service. This represents a huge boost in the capacity of the service, as the largest ship currently on the route is 16,600 TEU, with an average ship size of 14,465...

https://mfame.guru/msc-increases-capacity-on-asia-waf-africa-express-service/

• Tabit has secured AED 170.3 million (USD 46.3 million) time charter with HMM Co. Ltd for a five-year term.
• Rigel has been delivered to AED 157 million (USD 42.8 million) time charter with Global Horizon Shipping Limited for a five-year term.
• BOCOM Leasing renews its partnership with Al Seer Marine for the third time, increasing its total investment to AED 845.2 million (USD 230 million).

Abu Dhabi-based Al Seer Marine, a subsidiary of International Holding Company, has taken delivery of two...

https://mfame.guru/al-seer-marine-expands-fleet-with-modern-mr-tankers-duo/

• Cable incidents in the Baltic Sea have been “exceptional” in recent years.
• Finland’s intelligence chief downplays their significance, citing bigger concerns.
• Russia’s “shadow fleet” seen as a major security risk in the region.
• Western nations urged to protect critical underwater infrastructure.

The Baltic Sea has witnessed an “exceptional” rise in cable incidents in recent years. However, Finland’s intelligence chief, Juha Martelius, suggests that state actors have more effective methods of...

https://mfame.guru/rising-cable-incidents-in-the-baltic-sea-a-growing-concern/

Lloyd’s Register, a UK-based classification society and professional advisory service, will become one of the first maritime organisations to use generative AI for permitting capabilities built upon Microsoft Azure OpenAI Service, to bridge the gap between terrestrial and maritime applications.

The capabilities are designed to enhance the regulatory process for nuclear technology and will be used by Lloyd’s Register to advance the deployment of nuclear in maritime applications.

Azure’s...

https://mfame.guru/lloyds-register-leverages-ai-to-advance-maritime-nuclear-technology-with-microsoft/

On the occasion of its 60th anniversary, the European Community Shipowners’ Associations (ECSA) has rebranded as ECSA European Shipowners, reaffirming its role as the voice of the European shipping industry.

• ECSA represents 22 European shipowners’ national associations, accounting for approximately 35% of the global fleet.
• The organization advocates for all shipping segments, including bulk carriers, container ships, tankers, gas carriers, ferries,...

https://mfame.guru/ecsa-rebrands-as-ecsa-european-shipowners-marking-60-years-of-industry-leadership/