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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

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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

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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

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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

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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

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About $400 million worth of cars could be lost in the Felicity Ace fire

The huge car carrier Felicity Ace was en route to Rhode Island when it caught fire in the Atlantic on February 16 and its crew abandoned ship with the help of the Portuguese Navy. Since then, it’s been drifting off the Azores, a smouldering sight and global marine curiosity full of luxury Volkswagen Group automobiles,

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Euronav integrates Canada East Coast in right whale protection measures

Leading tanker operator Euronav has instructed all of its captains to adhere to voluntary whale-protection measures in three critical habitat areas: the Canadian East Coast, the California coast and the Hellenic Trench. The Antwerp-based carrier has teamed up with the Great Whale Conservancy (GWC), an environmental non-profit organization dedicated to the protection of great whales. 

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