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Iqaluit – David J. McGuinty, Minister of National Defence, today announced a foundational investment of $816 million over seven years to strengthen maritime security and expand the Canadian Coast Guard’s role in monitoring Canada’s waters. Key projects that will strengthen the Canadian Coast Guard’s Arctic maritime domain awareness and federal visibility include: creation of a […]

The Panama Canal Authority has announced the appointment of deputy administrator Ilya Espino de Marotta as administrator for the 2026–2033 term.  The first woman to lead the international waterway, the 64-year-old Panamanian marine engineer will replace the current administrator, Ricaurte Vásquez, on October 1, 2026. The decision followed a national and international process of searching

The closure of the Strait of Hormuz is not a temporary shipping disruption but the beginning of a systemic agrifood shock that could trigger a severe global food price crisis within six to 12 months. Avoiding such an outcome will require alternative trade routes, restraint on export restrictions, protection of humanitarian flows, and buffers to

According to Filipe Gouveia, Shipping Analysis Manager at BIMCO, so far this year, ship transits via the Panama Canal have increased 8% y/y to a daily average of 38, driven by the tanker sector. “Transits have been especially high during the past five weeks, rising 16% y/y, as US energy exports to the Pacific jumped.”

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