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Most major shipping lines suspend shipments to and from Russia
Maersk, its 2M Alliance partner Mediterranean Shipping Co., and CMA CGM have joined Hapag-Lloyd and Ocean Network Express (ONE) in suspending bookings for Russian cargo in response to tightening global sanctions following the invasion of Ukraine, the JOC.com news platform reported today. “As the stability and safety of our operations is already being directly and indirectly impacted
On our Forum: Beware of risks for ships carrying EV vehicles…
By Michael Grey Here is a useful motoring tip that you probably will not discover in your service manual, should your new, all-electric vehicle inadvertently burst into flames. While your natural inclination might be to run for your life, it is suggested that the terrifying fire might be smothered in a blanket, or better still,
Suez Canal announces new toll increase effective March 1
After raising tolls one month ago, the Suez Canal Authority has announced another toll increase effective March 1, 2022. According to circulars by the canal authority, the levy decision was “in line with the significant growth in global trade, the improvement of ships’ economics, the Suez Canal waterway development and the enhancement of the transit
Port of Toronto reports strong cargo trends
Imports of cement, steel, sugar and salt moving through the Port of Toronto and directly into the heart of Canada’s largest city in 2021 surpassed 2.2 million metric tonnes for the 5th consecutive year. Bypassing trade gateways disrupted by the pandemic, Great Lakes – St. Lawrence Seaway shipping routes remained reliable and congestion free, reinforcing
Russian attack on Ukraine ignites upheaval in global commodity flows
Global commodity trading patterns are set for their greatest upheaval in decades following today’s full-scale invasion of Ukraine by Russia, reports Sam Chambers on the Splash247 news platform. Russian president Vladimir Putin sent troops into four different regions of Ukraine this morning in an attack that is the largest seen on European soil since the
Prince Rupert Port seeking to double capacity through second container terminal
Prince Rupert, BC – DP World and the Prince Rupert Port Authority have entered into a two-year agreement to assess the feasibility of an innovative new container terminal project in Prince Rupert. The potential project would add up to 2 million twenty-foot equivalent units (TEUs) of annual capacity to the Port of Prince Rupert, significantly
U.S. launches major NY/NJ offshore wind lease sale
The U.S. government today held its first offshore wind lease sale with a view to auctioning a record of more than 480,000 acres offshore New York and New Jersey. The auction allows offshore wind developers to bid on six lease areas, the most areas ever offered in a single auction, in an area known as
Buttigieg announces $450 million in grants to help decongest U.S. ports
U.S. Transportation Secretary Pete Buttigieg today announced some $450 million in grants for port-related projects to bolster capacity and mitigate supply chain congestion. The funding will flow from the recently adopted $1 trillion Bipartisan Infrastructure Law. “We’re proud to announce this funding to help ports improve their infrastructure — to get goods moving more efficiently