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The Drewry World Container Index (WCI) increased 6% to $2,712 per 40ft container, mainly due to higher freight rates on the Asia to Europe trade route. The composite index rose for the third week this month. On the Asia–Europe trade route, spot rates increased this week, supported by early peak season demand and higher FAK […]

The International Maritime Organization (IMO) has adopted a new International Code of Safety for Maritime Autonomous Surface Ships (MASS Code) at the 111th session of the Maritime Safety Committee in London. The Maritime Safety Committee meeting concludes tomorrow, running from 13 to 22 May. The MASS Code aims to support the safe integration of autonomous

The Port of Halifax has received two new electric rail-mounted gantry (RMG) cranes at PSA Halifax’s Atlantic Hub terminal, introducing the first remotely operated yard equipment in Halifax, which increases capacity, efficiency and reliability. The new cranes enable operators to control movements from a centralized control room, improving safety and comfort by eliminating the need

According to a new analysis from consultancy Wood Mackenzie, under a worst-case scenario a prolonged closure of the Strait of Hormuz could trigger a global recession and propel oil prices towards $200 per barrel. The consultancy noted that the fragile ceasefire between the US and Iran has brought some respite to the Middle East from

The National Association of Waterfront Employers (NAWE) released new survey findings based on input from 25 senior port and terminal executives, revealing that U.S. ports require billions in near-term capital investment to maintain efficiency and global competitiveness. Additionally, the survey found that there is demand for more than 100 new or replacement ship-to-shore (STS) cranes, underscoring the

Over four in 10 (44%) agri-businesses are facing higher costs and supply disruptions for critical inputs like fertilizer due to shipping disruptions in the Strait of Hormuz, finds new data by the Canadian Federation of Independent Business (CFIB). “High taxes, ongoing red tape, and rising energy costs are already straining Canada’s food supply. Now, the Strait of

Victoria – As part of the Spring Economic Update 2026: Canada Strong for All, the government is proposing over $258 million over 5 years to renew and enhance funding for the protection of whales and their habitats. This investment will build off the success of the Whales Initiative and Oceans Protection Plan. This new funding will

CLEVELAND – Iron ore shipments on the Great Lakes totaled 3.9 million tons in April, an increase of 5.3 percent compared to 2025.  Shipments were 9.4 percent below the month’s 5-year average, according to the Lake Carriers’ Association which represents the U.S.-flag Great Lakes fleet. Year-to-date, the iron ore trade stands at 6.8 million tons,

The International Maritime Organization (IMO) and World Maritime University (WMU) have released a new Handbook on Gender Mainstreaming in the Maritime Sector, calling for action to address persistent gender inequality across the global maritime industry.  The handbook, authored by WMU Professor Momoko Kitada, was launched on the International Day for Women in Maritime on 18 May.

A major milestone was reached recently with the keel laying of CSL OWL SRI’s first of two subsea rock installation (SRI) vessels. The CSL OWL SRI newbuilds are tailored to meet the demands of a rapidly growing offshore wind sector, offering optimal flexibility and performance. Designed for peak performance in water depths up to 100