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  In an ambitious initiative to combat climate change and the impact of a prolonged severe drought, the Panama Canal Authority has announced plans to allocate more than $8.5 billion in capital investments towards sustainability projects over the next five years. “We plan to embed sustainability into capital investments worth over $8.5 billion in the […]

  Recent attacks on commercial vessels in the Red Sea have severely affected shipping through the Suez Canal, adding to existing geopolitical and climate-related challenges facing global trade and supply chains, UNCTAD says in a new report released today. The Red Sea crisis compounds the ongoing disruptions in the Black Sea due to the war in Ukraine,

  The International Chamber of Shipping (ICS), the global trade association for shipowners and operators, which represents over 80% of the world merchant fleet, has launched a set of ‘Industry principles for establishing effective measures to combat and eliminate harassment and bullying in the maritime sector.’  The principles have been published against the backdrop of

  Quebec City – The Minister of Public Services and Procurement, Jean-Yves Duclos, on behalf of the Minister of Fisheries, Oceans and the Canadian Coast Guard, Diane Lebouthillier, today announced a contract award following a competitive process, valued at approximately $44 million (including taxes) to Ocean Industries Inc. for the vessel life extension of the CCGS Griffon. “By

  Netherlands-based Chemship has completed what it describes as the world’s first installation of wind-assisted propulsion on a chemical tanker. The event took place on February 19 at the Port of Rotterdam. Four 16-meter (53-foot) aluminum wind sails have been installed aboard the 16,000 DWT Chemical Challenger which will operate on Chemship’s trans-Atlantic route between the

  Europe’s biggest port, Rotterdam, today reported a 6.1% decrease in its total cargo in 2023, handling 438.8 million tonnes compared to 467.4 million tonnes in 2022. The port attributed global geopolitical unrest, sluggish economic growth, and high inflation to the overall decline. While coal, containers, and other dry bulk recorded decreases, there was an

  CMB.TECH has announced the order of the world’s first ammonia-powered container vessel in partnership with Yara Clean Ammonia, North Sea Container Line and Yara International through a 15-year deal. The vessel, to be named Yara Eyde, is a 1.400 TEU ice-class container ship to be built at Qingdao Yangfan Shipbuilding (Qingdao, China). Expected to

  A 225-metre-long ship for the transport of bulk cargo, commissioned by Canada’s Algoma Central Corporation, was launched on Feb. 17 at Rijeka’s 3.maj shipyard, with Prime Minister Andrej Plenković and numerous citizens attending the event. The Algoma Endeavour, the longest ship launched at the Rijeka shipyard, is 23.8 metres wide and has a carrying

  The Chamber of Shipping in Vancouver has released a White Paper underlining the importance and challenges for Canada to join other nations in implementing the Maritime Single Window (MSW) mandate, which came into force globally on January 1st, 2024. The MSW acknowledges the need for standardized reporting and data exchange and sets forth guidelines

  In a comprehensive new study, Norwegian marine insurance group Gard has measured the impact of weather on container stack collapses. Its findings show the impact of progressively increasing wave height, the quantified risk of high waves, and variance in weather exposure among different operators. As the world economy develops, the volume of containerized trade