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The International Monetary Fund has trimmed its forecast for global economic growth this year, and has warned that a prolonged Middle East conflict could fuel an “energy crisis on an unprecedented scale.” “The global outlook has abruptly darkened following the outbreak of war in the Middle East,” Pierre-Olivier Gourinchas, economic counsellor at the IMF, wrote […]

Since the beginning of the Iran war, global seaborne crude oil shipments have fallen 16% compared to the first nine weeks of 2026, according to Signal Ocean data. This represents a reduction of 7.6 million barrels per day (mbdp) to 38.4 mbpd. Coincidentally, shipments during the past six weeks have likewise been 16% lower than

Geneva – MSC Mediterranean Shipping Company announced today that a transfer of ownership took place during the last quarter of 2025 from its founder Captain Gianluigi Aponte to his son and daughter, Diego and Alexa Aponte. Both of whom are Italian nationals brought up in Switzerland and currently residents of the country. This transition marks a

Halifax — One of the world’s most advanced naval shipbuilders is strengthening its ties with a Irving Shipbuilding, as Canada moves to build a sovereign naval capability for the long term. Hanwha Ocean, the South Korean shipbuilding giant, met with Irving Shipbuilding in Halifax for high-level discussions on potential collaboration spanning naval sustainment, workforce development,

The Montreal Port Authority confirmed today that Chief Financial Officer Alban Fournier will be departing to take a new job effective April 27 as CFO of 5N Plus Inc., a global leader in the production of specialty semiconductors and high-performance materials. It marks the latest recent corporate management exodus at Canada’s second largest container port.

The ICC International Maritime Bureau (IMB) reported a sharp fall in global maritime piracy and armed robbery incidents in the first quarter of 2026, with figures dropping to their lowest Q1 level since 1991. Between January and March 2026, 16 incidents were reported worldwide, down from 45 in Q1 2025 and 33 in Q1 2024.

According to Filipe Gouveia, Shipping Analysis Manager at BIMCO, at the end of the first quarter of 2026, the global shipping order book hit a 17-year high, reaching 191m Compensated Gross Tonnes (CGT). This is equivalent to 17% of the global fleet, the highest ratio since 2011. The order book has been boosted by higher

The Toronto Port Authority announced that In 2025, the Port of Toronto handled more than 2.16 million metric tonnes of cargo, delivered by 167 vessels, marking a 4.5% increase in imports compared with 2024. Bulk commodities included 751,353 tonnes of road salt, 575,898 tonnes of sugar, 714,843 tonnes of cement, 57,667 tonnes of aggregate, and

Canada’s largest east coast port expansion moves forward as the Canada Infrastructure Bank (CIB) announced it is supporting the new Contrecoeur container terminal by loaning $1.16 billion to the Montreal Port Authority (MPA). Total cost of the project is estimated at C$2.3B. From Contrecœur Prime Minister Mark Carney also issued a statement, declaring: “The Contrecœur Container

Fincantieri Marine Group and two Great Lakes shipbuilders, Fraser Shipyards (Superior, Wis.) and Donjon Marine (Erie, Pa.), have established a collaborative framework to bring new shipbuilding programs and technology to the ‘Fourth Coast’ in keeping with the Trump administration’s efforts to rapidly increase domestic shipbuilding.   The three shipyards will join forces to compete for a