Stock market news: Hirose Tech tops Taiwanese gainers with a 25.15% rise
At 1:01 pm Friday, 22 November 2024 (GMT+8), Hirose Tech Co. Ltd. led gains on the Taiwan Stock Exchange, surging 25.15% to 53.00 TWD. Acon...
Maritime & Trade
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Maersk raises profit forecast by $2 billion amid Red sea shipping disruptions
The increase in profit expectations comes as Maersk grapples with significant operational issues in the Red Sea, a critical transit route for international shipping.
JNPA records highest monthly container traffic with 603,219 TEUs in July 2024
The impressive volume of container traffic managed by JNPA last month reflects a robust growth trajectory and highlights the port’s capacity to handle increasing demands from global and domestic shipping lines.
Chesapeake Bay bridge temporarily closed due to MARAD vessel steering failure
The closure of the Chesapeake Bay Bridge, a critical infrastructure link for the region, was executed as a precautionary measure. Authorities ensured that the vessel was stabilized and safely manoeuvred away from the bridge before reopening it to traffic.
Government unveils key initiatives to boost maritime development in Andhra Pradesh
The government’s focus on maritime development also extends to enhancing connectivity between ports and hinterland regions. In order to guarantee smooth cargo transportation to and from ports, efforts are being made to upgrade the road and rail infrastructure.
Nhava Sheva container transport operators to halt operations from August 20
Representatives of the Nhava Sheva Container Operators' Welfare Association have called for urgent intervention from port authorities and government officials to address their concerns.
INS Tabar and RuFN Soobrazitelnyy conduct operational drills in Baltic Sea
The Maritime Partnership Exercise (MPX) between the Indian Navy’s INS Tabar and the Russian Navy’s Soobrazitelnyy was successfully conducted in the Baltic Sea, following harbor activities in St Petersburg.
Kandla and Visakhapatnam ports granted export access to Maldives
The approval, granted by the Indian Ministry of Commerce and Industry, allows these major Indian ports to facilitate direct shipments to the Maldives, expanding the scope of India’s export capabilities.
Paradip Port authorities detain Chinese cargo vessel over financial dispute
The conflict arose over unpaid dues linked to port services rendered during the vessel's previous calls. Reports suggest that the outstanding amount has accumulated to a substantial figure, prompting the authorities to take this drastic measure to secure payment.
China developing world’s largest amphibious assault ship with advanced catapult system
One of the standout features of the Type 076 is its integrated catapult system. Unlike traditional amphibious assault ships that rely on helicopters and vertical takeoff and landing (VTOL) aircraft, the Type 076's catapult system will allow it to launch fixed-wing aircraft.
Qatar ports report 46% surge in container handling for July
The increase in container handling is also attributed to the rising volume of trade and the diversification of Qatar's economy. The country has been actively pursuing new trade partnerships and expanding its market reach.
Shipping industry’s next great transformation!
We're not on the verge of a revolution, but rather a slow transformation. The future demands we rethink ship design, retrofit existing fleets, and integrate digital systems. As we prepare for a greener, more efficient maritime industry, collaboration and innovation are key to navigating this new era.
ONE increases profit forecast amidst rising spot rates and strong demand in Singapore
Ocean Network Express reports a 12% revenue increase and revises its FY2024 profit forecast to $2.745 billion, driven by strong cargo demand and rising spot rates amidst market uncertainties.
The future of shipping industry in an unpredictable world
Despite its decentralized nature, the shipping industry remains adaptable. The proliferation of small shipping companies, many owning just one vessel, reflects the industry's unique structure.
TSB expresses concerns regarding Canada’s marine emergency preparedness post ZIM Kingston fire
The TSB has raised serious concerns about Canada’s marine emergency preparedness following the ZIM Kingston incident, revealing critical gaps in response capabilities.
India’s waterways see 5% surge in cargo movement in FY24
The increase in cargo movement via waterways also reflects a growing awareness among businesses of the cost and time efficiencies associated with this mode of transport.
Coastal clean-up intensifies following shipwreck oil spill on South Africa’s west coast
SAMSA has activated the Oil Spill Contingency Plan, deploying approximately 125 local volunteers to assist in the clean-up efforts. By Monday evening, teams including salvors and community members were focused on a one-kilometer stretch of affected beach. The oil has been contained to this area thanks to heavy swells and wind waves.