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Sweeping U.S. Senate bill on Arctic issues seeks to curtail Russian influence
The Arctic Today news platform reports that a broad bill covering national security, shipping, research, and trade in the Arctic that sharply challenges Russia’s dominance on some issues has been introduced in the U.S. Senate. The proposed legislation seeks to curtail Russia’s shipping “monopoly” in the Arctic while establishing a year-round U.S. presence in the North through
Maersk acquires project logistics company
A.P. Moller – Maersk (Maersk) announced it has reached an agreement to acquire Martin Bencher Group, a Denmark-based project logistics company with premium capabilities within non-containerised project logistics. The transaction is valued at $61 million. Martin Bencher was founded in 1997 and is an asset-light logistics provider that specialises in project logistics. Martin Bencher’s core
Congestion growing at U.S. East Coast ports
According to Xenata, the Oslo-based market intelligence platform, under one in five containerships are currently arriving on time at U.S. East Coast ports, with the West to East coast cargo shift hitting schedule reliability. The shift in shipping capacity has caused congestion for the East Coast ports as West Coast ports improve cargo flow relative
Baffinland Iron Mines provisionally terminates 1,100 jobs
Baffinland Iron Mines has sent termination notices to more than 1,100 workers at its Mary River mining operation in response to delayed regulatory approvals for the company’s request to continue annual production at 6 million tonnes and map future expansion. Large bulk carriers ship the iron ore mainly to markets in Asia and Europe. In
World’s “largest” containership launched in China
Hudong Zhonghua shipyard, owned by China State Shipbuilding Company (CSSC) has announced the launch of what is claimed to be the world’s largest containership based on capacity. The MSC Tessa, has a capacity of 24,116 TEUs. The mega-containership was floated out of its building dock at the Hudong Zhonghua Shipbuilding’s Changxing Shipbuilding Base, located
Enjoy! The Summer Edition (# 105) of Maritime Magazine is online
Our summer edition highlights two major features of topical interest. One is devoted to the opportunities and challenges in Canada-Asia trade amidst a rapidly-changing global economy ushered in by Russia’s barbaric invasion of Ukraine. The second feature offers an in-depth perspective on how terminal operators in ports across Canada are expanding to improve supply chain
Rise in global Seafarer optimism
According to the latest report from the Seafarers Happiness Index, the second quarter of 2022 has revealed a welcome rise in optimism with a significant increase in the overall rating of 7.21/10, up from 5.85 in the previous quarter.” “It is great to see seafarer happiness increase after such low satisfaction in the last Seafarers
Rotterdam and Singapore establishing world’s longest green and digital corridor
The Maritime and Port Authority of Singapore (MPA) and the Port of Rotterdam Authority today signed a memorandum of understanding (MoU) to establish the world’s longest Green and Digital Corridor to enable low and zero carbon shipping, with a target date of 2027. Signed in Singapore by Ms. Quah Ley Hoon, Chief Executive of MPA, and