Several global maritime agencies and oil and gas giant British Petroleum announced they would temporarily pause transit through the Red Sea until further notice because of the repeated missile and drone incidents against their vessels.
For the first time in 30 years Panama is no longer the world’s largest ship registry. Rival Liberia has overhauled the Central American nation in terms of gross tonnage in new data issued by Clarksons Research.
Global production of shipping containers has fallen significantly as demand for goods sank following the easing of pandemic restrictions, leaving the corrugated steel boxes piled up at major ports.
The pace of global shipping activity is set to lose steam next year as economic turmoil, conflict in Ukraine and the impact of the pandemic weaken the outlook for trade, U.N. agency UNCTAD said this week.
The Trump administration on Thursday issued guidelines to help ship owners and insurers avoid the risks of sanctions penalties, standards that maritime players and a senior State Department official said were modified following months of discussions with industry.
The Trump administration is to reinstate all US sanctions on Iran removed under the 2015 nuclear deal. The White House said it was the toughest sanctions regime ever imposed on Iran and targeted Iran's energy, shipping and banking sectors.
Two former Royal Navy offshore patrol vessels built by Hall Russell in Aberdeen and which for years were on Falkland Islands service have been sold to Bangladesh's navy.