Zero USV, the company behind the Oceanus12 fleet, providing the first global network of over-the-horizon, high-endurance uncrewed fully autonomous surface vessels (USVs) for charter, has officially welcomed Leeway Marine onboard as its first global operations partner. This partnership represents a...
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China’s transport industry sees growth momentum in first two months
China’s transport industry maintained its growth momentum in the first two months, with increases in key indicators such as freight volume and port cargo, according to the Ministry of Transport. Total freight volume during the January-February period reached 8.03 billion tonnes, up 4.8 percent year...
China reviewing sale of two Panama Canal ports
Foreign Ministry spokesman Guo Jiakun reiterated on Monday that China will review the sale of two ports on the Panama Canal by Hong Kong’s CK Hutchison, in accordance with the law to ensure fair market competition and protect public interests. “China firmly opposes using economic coercion and...
https://www.hellenicshippingnews.com/china-reviewing-sale-of-two-panama-canal-ports/
Algeria cancels deep-water port project with China
Algeria has officially shelved a $3 billion project to build what could have been one of Africa’s largest ports, nine years after a group of Chinese and Algerian companies signed an initial agreement, Ports Europe reported. The Algerian authorities, China State Construction Engineering Corporation...
https://www.hellenicshippingnews.com/algeria-cancels-deep-water-port-project-with-china/
Russian central bank sees chance of prolonged low oil price cycle
Russia’s central bank has warned the Kremlin’s policy makers the United States and OPEC have the capacity to flood the oil market and cause a repeat of the prolonged price collapse of the 1980s – which contributed to the downfall of the Soviet Union. The warning came weeks before Russian and U.S....
Oil prices ease despite Trump warning of possible tariffs on Russian buyers
Oil prices eased on Monday and headed for a modest quarterly loss, despite a warning from U.S. President Donald Trump that he may impose secondary tariffs on buyers of Russian oil if he feels Moscow is blocking his efforts to end the war in Ukraine. The more active June Brent crude futures (LCOc2)...
LNG and LPG Shipping Markets Slumped Last Week
LNG This week, the LNG market experienced a decline, with most routes seeing a drop in rates. On the BLNG1 Gladstone–Tokyo route, 174k cbm vessels gained $400, reaching $27,900 per day, while 160k cbm vessels declined by $600, settling at $17,800 per day. In the Atlantic, the BLNG2 Sabine–UK...
https://www.hellenicshippingnews.com/lng-and-lpg-shipping-markets-slumped-last-week/
Global NGOs Call on IMO to Reject Biofuels and Commit to Truly Clean Energy
As the International Maritime Organization (IMO) prepares to finalize negotiations (31 March – 1 April ISWG-GHG-19, 7 – 11 April MEPC83) on key measures for achieving net-zero greenhouse gas (GHG) emissions in international shipping, environmental and Indigenous rights groups are sounding the alarm...
Trump ‘pissed off’ at Putin, threatens tariffs on Russian oil if Moscow blocks Ukraine deal
U.S. President Donald Trump said on Sunday he was “pissed off” at Russian President Vladimir Putin and will impose secondary tariffs of 25% to 50% on buyers of Russian oil if he feels Moscow is blocking his efforts to end the war in Ukraine. Trump told NBC News he was angry after Putin last week …
How the rollout of Trump’s reciprocal tariffs could become an ‘absolute nightmare’ at US ports
While Wall Street frets about potential volatility from President Trump’s April 2 “Liberation Day” plans, another part of America is also bracing for more possible chaos: US ports. If the president next week imposes sweeping new duties on America’s top trading partners, that could place a...