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Shanghai halted transportation links, recalled ships and shut tourism spots including Shanghai Disney Resort on Sunday as it braced for Typhoon Bebinca, in what could be the strongest tropical cyclone to hit the Chinese financial hub since 1949.The Category 1 typhoon…
https://www.marinelink.com/news/shanghai-braces-typhoon-bebinca-517058
https://www.marinelink.com/news/shanghai-braces-typhoon-bebinca-517058Eight people have died trying to cross the Channel from France to England, French authorities said on Sunday, confirming earlier media reports.This latest incident follows the deaths of 12 people earlier this month when their boat capsized in the Channel on its way to Britain and highlights the pres
https://www.marinelink.com/news/eight-dead-channel-crossing-attempt-517059
https://www.marinelink.com/news/eight-dead-channel-crossing-attempt-517059With Chinese steel demand now dropping faster than expected, the outlook for Australian iron ore – and its impact the Australian economy – has become a hot topic. What’s often overlooked, however, is that it is demand for lower-grade ore used for coal-consuming blast furnaces that is entering decline. Meanwhile, demand for higher-grade ore suitable ...
https://www.hellenicshippingnews.com/chinas-falling-iron-ore-demand-is-only-half-the-story/
https://www.hellenicshippingnews.com/chinas-falling-iron-ore-demand-is-only-half-the-story/Drewry projects a 3.3% YoY gain in Capesize shipping demand in 2024 due to the shift in Colombia’s coal exports to the Far East. Freight rates on the Colombia-ARA route will be dampened as Europe, Colombia’s erstwhile major trade partner, is reducing its dependence on fossil fuel amid subdued electricity production and is emphasising the ...
https://www.hellenicshippingnews.com/asias-appetite-for-colombian-coal-pushing-up-capesize-demand/
https://www.hellenicshippingnews.com/asias-appetite-for-colombian-coal-pushing-up-capesize-demand/Capesize The Capesize market experienced a mixed week, beginning with positive sentiment but gradually facing increasing pressure. It was a slow start, although optimism remained as the BCI 5TC rose by $400 to $28,232, driven by limited but stronger Pacific fixtures. However, cargo volume and market momentum began to wane, particularly in the Pacific, leading ...
https://www.hellenicshippingnews.com/dry-bulk-market-mixed-week-for-capesizes/
https://www.hellenicshippingnews.com/dry-bulk-market-mixed-week-for-capesizes/MOL PLUS, the investment arm of Japan’s largest shipowner, Mitsui OSK Lines (MOL), will be investing in Innovative Space Carrier (ISC), a startup developing small reusable rockets. Tokyo-headquartered ISC is currently focused on developing reusable rockets for satellite launches, with plans to expand into manned space transportation services and the spaceport industry. All this is …
https://splash247.com/mol-takes-first-small-step-into-space-investment/
https://splash247.com/mol-takes-first-small-step-into-space-investment/Mitsui OSK Lines (MOL) and Chevron Shipping will install a pair of hard sails on the prow of an LNG carrier under construction at Hanhwa Ocean in South Korea, in a first for the gas shipping sector. Two Wind Challengers – the rigid, telescopic sails developed by MOL and Oshima Shipbuilding – will feature prominently …
https://splash247.com/lng-carrier-in-landmark-sail-installation/
https://splash247.com/lng-carrier-in-landmark-sail-installation/The Lithuanian prime minister, Ingrida Šimonytė, has said a ship carrying a potentially explosive cargo which is seeking to call in the country for urgent repairs will be denied access. Splash reported last week that the Ruby, a 37,000 dwt open hatch carrier carrying 20,000 tons of ammonium nitrate, sought emergency refuge at the port …
https://splash247.com/lithuanian-pm-turns-away-ship-carrying-ammonium-nitrate/
https://splash247.com/lithuanian-pm-turns-away-ship-carrying-ammonium-nitrate/Singapore-listed Yangzijiang Shipbuilding, China’s largest private shipbuilder, has entered into a joint venture agreement with Japan’s Tsuneishi Holdings to acquire a 34% equity stake in Tsuneishi Group (Zhoushan) Shipbuilding through a private share allotment worth $117m. Over the years, the two companies have collaborated in various areas of shipbuilding through their joint venture in Jiangsu …
https://splash247.com/yangzijiang-buys-into-tsuneishis-china-yard/
https://splash247.com/yangzijiang-buys-into-tsuneishis-china-yard/Finally putting to bed one of this year’s longer-running takeover sagas, which has seen multiple containerlines linked, Danish logistics giant DSV today confirmed that it signed an agreement to acquire Schenker from Deutsche Bahn for €14.3bn ($15.83bn). In the long process of selling Schenker, containerlines such as Maersk and Hapag-Lloyd were linked with a possible …
https://splash247.com/dsv-wins-the-race-to-acquire-schenker/
https://splash247.com/dsv-wins-the-race-to-acquire-schenker/