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☆ Red Sea crisis: The shipping industry is sounding the alarm as another vessel sinks
▼ + stars: | 2024-06-20 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —Leading shipping groups have urged governments “with influence” to put a stop to Houthi attacks on vessels in the Red Sea after a second freighter sank this week. The latest sinking is likely to have led to another death, according to a statement Wednesday from more than a dozen shipping associations, including the International Chamber of Shipping and the World Shipping Council. The longer diversion around the southern tip of Africa has sent shipping costs soaring and is causing congestion at ports in Asia and Europe, threatening to scramble global supply chains. We call for states with influence in the region to safeguard our innocent seafarers and for the swift de-escalation of the situation in the Red Sea,” they added. “Houthi attacks continue to make the Red Sea unsafe, and increases in charter activity and rates indicate carriers expect congestion to remain a factor for some time,” he added.

Persons: ”, “, Hapag Lloyd, Judah Levine Organizations: London CNN, International Chamber of Shipping, World Shipping Council, Maritime Trade, Royal Navy, Shipping, Maersk, Drewry, Carriers Locations: Red, Africa, Asia, Europe, ., Yemen, Gaza, Suez, London, Red Sea, Singapore, Malaysia, Shanghai, China, Barcelona, Spain

☆ Sudden container crunch sends ocean freight rates soaring, setting off global trade alarm bells
▼ + stars: | 2024-05-23 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +8 min

AFP Contributor | AFP | Getty ImagesA perfect storm in global trade is creating a shipping container capacity crunch, fueling a sudden and surprise spike in ocean freight rates. Xeneta ocean freight rates show the rallying spot market and the widening spread between spot and long-term rates. An increase in ocean freight rejections shows the imbalance. Logistics price increases are ultimately passed onto the consumer and the dizzying freight rates during the pandemic were among factors cited by the Federal Reserve as a cause of inflation. The International Chamber of Shipping, which represents major ocean carriers, did not immediately respond to a request for comment.

Persons: Emily Stausbøll, Stausbøll, Goetz Alebrand, Alebrand, Judah Levine, Freightos, Levine, Wan Hai, HLS, Drewry, Jonathan Gold Organizations: AFP, Getty, U.S ., Xeneta, DHL, Shipping, Americas, DHL Global, CNBC, Federal Reserve, Orient Star Group, MSC, Chamber of Shipping, Honour, Carriers, Maritime Locations: Qingdao, Shandong province, AFP, Asia, U.S . West Coast, U.S, China, Malaysia, Singapore, Panama, Latin America, Europe, Chongqing, East Asia, South America, Africa, U.S . East Coast

“There’s no strong infrastructure for safety in maritime," said Jim Hall, who led the National Transportation Safety Board from 1994 to 2001. The Dali was flagged in Singapore, which has one of the best safety records of any country where ships are based. It's not listed as one of the 42 countries identified as “flags of convenience” by the International Transport Workers Federation. He said that with maritime shipping being the oldest transportation industry, with its international regulations that rely on many different countries for enforcement, it may have the most problems. “When I talk about those other transportation industries, the maritime industry is the worst offender of safety violations, of labor violations than any other industry,” Rexha said.

Persons: “, Jim Hall, Peter DeFazio of, ”, ” DeFazio, it's, Dali —, Peter Gautier, Dali, It's, Grace Ocean, Douglas Hales, ” Hales, Roland Rexha, midflight, ” Rexha, Michael Kunzelman, Seung Min Kim Organizations: International Maritime Organization, National Transportation, Guard, Former U.S . Rep, Transportation, U.S . Coast Guard, International Chamber of Shipping coalition, Allianz Global, International Transport Workers Federation . Authorities, Synergy Marine, University of Rhode, Port, Marine Engineers, Boeing, Max, Associated Press Locations: Baltimore, London, Former, Peter DeFazio of Oregon, West, New York, United States, U.S, Singapore, Chile, Belgium, Antwerp, Callao, Western Callao, Port of Baltimore, Ohio

☆ Black box recovered from cargo ship that crashed into Baltimore bridge could help uncover what went wrong
▼ + stars: | 2024-03-27 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

A black box has been recovered from the ship that crashed into a Baltimore bridge. The Dali, a Singapore-flagged cargo ship, hit Baltimore's Francis Scott Key Bridge early Tuesday. AdvertisementWhat exactly went wrong to cause the Baltimore bridge collapse this week? Officials on Wednesday recovered the ship's black box data recorder, which could help investigators piece together what caused the crash. The Singapore-flagged Dali cargo ship crashed into the Francis Scott Key Bridge in Baltimore, Maryland, early Tuesday morning, causing it to collapse.

Persons: Dali, Baltimore's Francis Scott Key, —, Jennifer Homendy, Guy Platten —, Francis Scott Key, Wes Moore, James Wallace, Shannon Gilreath Organizations: Baltimore's Francis Scott Key Bridge, Service, Transportation Safety Board, CBS News, International Chamber of Shipping, Bloomberg, Bloomberg Radio, Baltimore, Maritime, Port Authority, Synergy Marine, Baltimore Fire Department, US Coast Guard Locations: Baltimore, Singapore, Baltimore , Maryland, Colombo, Sri Lanka, Maryland, Asia Pacific

☆ Fatal Houthi rebel attack may be a ‘red line’ in Red Sea shipping crisis
▼ + stars: | 2024-03-07 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

The deadly strike marks a significant escalation of the Houthi attacks on ships in the Red Sea and and comes despite a US-led naval coalition to protect the crucial waterway. Fewer ships appear to be transiting through the Red Sea and adjoining Suez Canal after the latest attack, according to maritime risks analytics company Windward. According to Windward, the number of bulk carriers anchoring outside ports to the north and south of the Suez Canal surged 225% Wednesday compared with the previous day. Windward data shows that last month the number of bulk carriers in the Red Sea was already at its lowest level in two years. Just 30% of the usual shipping capacity — including container ships, bulk carriers, car carriers, and tankers carrying oil and liquefied natural gas — is still passing through the Red Sea and Suez Canal, according to Sand.

Persons: Ami Daniel, ”, Peter Sand, “, Hapag Lloyd —, Christine Lagarde, CMA CGM, Stephen Cotton, Cotton, David Ashmore, Reed Smith, John Stawpert, ” Maisie Linford Organizations: London CNN, Liberian, ” Windward, CNN, Maersk, MSC, European Central Bank, Drewry, CMA, International Transport Workers ’ Federation, International Chamber of Shipping Locations: Red Sea, Iran, Suez, Africa, Windward, Red, Norway, Sand, “, London, Good, Gulf, Aden and Red, Aden

☆ Somali pirates are back on the attack at a level not seen in years, adding to global shipping threats
▼ + stars: | 2024-02-06 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +4 min

Piracy off the coast of Somalia had been on the decline in recent years after peaking in 2011 when Somali pirates launched 212 attacks. A 2013 World Bank study, still widelt cited today, estimated that piracy cost the global economy around $18 billion annually. The pirates have also been attacking fishing vessels, mostly Iranian, as well as many other small boats such as skiffs. Ocean piracy is rising across the worldData from 2023 shows that by many key measures, piracy is on the rise in key global shipping lanes. There were 120 incidents of maritime piracy and armed robbery against ships reported in 2023, compared to 115 in 2022, according to the annual Piracy and Armed Robbery Report of the ICC International Maritime Bureau (IMB).

Persons: Abuukar Mohamed Muhidin, Dan Mueller Organizations: Puntland Maritime Police Forces, Getty Images, Royal United Services Institute, United Nations Security Council, European Union Naval Force, UNSC, Eastern, Chamber of Shipping, ICC International Maritime Bureau, International Maritime Organization, CNBC Locations: PUNTLAND, SOMALIA, Puntland, Somalia, Anadolu, Africa, Horn of Africa, U.S, Eastern Region, Djibouti

☆ Red Sea attacks on ships spark safety concerns for sailors
▼ + stars: | 2023-11-29 | by ( Jonathan Saul | ) www.reuters.com time to read: +2 min

The Galaxy Leader cargo ship is escorted by Houthi boats in the Red Sea in this photo released November 20, 2023. The International Chamber of Shipping association said the "attacks must stop immediately, and the innocent seafarers released". "In light of the threat to safe transit of global trade in the Arabian and Red Seas, ZIM is taking temporary proactive measures to ensure the safety of its crews, vessels, and customers' cargo by re-routing some of its vessels," ZIM said. U.S. maritime administration MARAD said in an advisory on Sunday that vessels faced multiple threats after the attacks. Insurance industry sources said they expected war risk premiums to rise in the area, especially for Israel-linked shipping.

Persons: Houthis, ZIM, MARAD, Jonathan Saul, Carolyn Cohn Organizations: Galaxy Leader, Houthi Military, REUTERS, Yemeni, Pentagon, Hamas, Chamber of Shipping, ICS, Insurance, Thomson Locations: Red, Yemen, Gulf, Aden, Somali, Israel, Palestinian, Hodeidah

☆ Global shipping industry climate pledge slammed as a ‘wishy washy’ compromise
▼ + stars: | 2023-07-07 | by ( Laura Paddison | ) edition.cnn.com time to read: +4 min

CNN —The shipping industry has agreed a climate pledge to reduce its planet-heating pollution to net zero “by or around” 2050. That changed on Friday, when the International Maritime Organization, the UN body that regulates global shipping, published a new climate strategy after days of negotiations between the organization’s 175 member states. IMO secretary-general Kitack Lim said in a statement that the new climate strategy provides a “clear direction, a common vision, and ambitious targets.”Industry groups welcomed the deal. John Maggs, the president of the Clean Shipping Coalition criticized the “vague and non-committal language” in the new climate strategy. Countries pledged in the Paris Climate Agreement to limit global warming to well below 2 degrees – and preferably to 1.5 degrees – compared to pre-industrial temperatures.

Persons: Kitack Lim, Simon Bennett, Albon, ” Ralph Regenvanu, John Maggs, Faïg, ”, IMO’s Lim, “ Organizations: CNN, International Maritime Organization, UN, ” Industry, International Chamber of Shipping, Clean Shipping Coalition, Environment Locations: Paris, Marshall, Vanuatu

☆ A shipping emissions showdown stands in the way of one of the biggest climate deals of the decade
▼ + stars: | 2023-06-29 | by ( Sam Meredith | ) www.cnbc.com time to read: +5 min

The IMO is expected to update its current target of halving shipping emissions by 2050, from 2008 levels, but many are concerned about the maritime regulator's appetite to embrace interim targets. There is a lot of outside pressure pushing on the IMO because it is the climate negotiation of the summer. Gregor Fischer | Getty Images News | Getty ImagesIf stringent abatement measures are not implemented, the IMO has warned that shipping emissions could jump by up to 50% by mid-century. The 1.5 degrees Celsius goal is recognized as a crucial global target because beyond this level, so-called tipping points become more likely. Stefan Rousseau - Pa Images | Pa Images | Getty ImagesAsked which delegates were likely to seek to block calls for tougher climate targets, Maggs replied, "I think there are, of course, the usual suspects.

Persons: Aoife O'Leary, Opportunity Green John Maggs, Maggs, Gregor Fischer, General Kitack Lim, " Lim, Stefan Rousseau Organizations: International Maritime Organization, Getty, Environment, Opportunity, Clean Shipping Coalition, CNBC, United, Chamber of Shipping, Associated Press, ICS Locations: London, decarbonize, Paris, Germany, Russia, Saudi Arabia, United Arab Emirates, Argentina, Brazil, India

☆ Shipping tax could yield $100 bln climate windfall
▼ + stars: | 2023-06-12 | by ( Hugo Dixon | ) www.reuters.com time to read: +7 min

TINOS, June 12 (Reuters Breakingviews) - The shipping industry emits 2.9% of the world's greenhouse gases. Reuters Graphics Reuters GraphicsPOLLUTER PAYSThe shipping industry uses fossil fuels to power its boats. That said, industry leaders such as container giant Maersk (MAERSKb.CO) are moving into green shipping. This potentially large sum is attracting the attention of people outside the shipping industry, especially those focused on climate change. If a country refused to apply an agreed tax, the international shipping industry would effectively be unable to operate from its ports.

Persons: TINOS, Emmanuel Macron’s, Tristan Smith, Marshall, UCL’s Smith, Al Qaeda, Peter Thal Larsen, Thomas Shum Organizations: Reuters, International Maritime Organisation, United Nations, European Union, EU, Reuters Graphics Reuters, University College London, Shipping, Climate Fund, World Bank, International Chamber of Shipping, Marshall, Al, Trade Center, Thomson Locations: Paris, Danish, Marshall

☆ New propellers with looped blades could help make the oceans quiet again, sparing both marine life and the climate
▼ + stars: | 2023-04-19 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +9 min

Sharrow Marine sells them for small boats but would need to scale up to reach the shipping industry. A traditional ship propeller that has blades in a screw-like form. That's what Sebastian realized when he put loop propellers on a drone. Sharrow began selling propellers to recreational boaters in 2020 through a company he founded called Sharrow Marine. Testing led by the company BoatTEST found that the Sharrow Propeller was up to 30% more efficient than a standard blade propeller.

☆ 'Can't be forgotten': The sailors, ships stuck in Ukraine for a year
▼ + stars: | 2023-02-22 | by ( Lori Ann Larocco | Sara Lindsay | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Cannot be forgotten': Shipping industry urges UN to help sailors, ships still trapped in UkraineThe shipping industry has sent an urgent letter to the UN asking it to do more to help the foreign sailors and vessels still trapped in Ukraine after a year of war, amid risk of sea mines, threat of attacks and isolation. CNBC's Lori Ann LaRocco speaks with Guy Platten, secretary general of the International Chamber of Shipping.

☆ Surrounded by sea mines, low on supplies: The sailors, ships still stranded in Ukraine one war-year later
▼ + stars: | 2023-02-22 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +1 min

For the last year, since the start of the war with Russia, 331 seafarers and 61 ships have been trapped in Ukrainian ports, and calls for their expedited release are intensifying. The ICS, which represents 80% of all global vessels, tells CNBC this is a safety and security issue for the stranded vessels and crews. "Many of the ports are far too dangerous for the ships," said Guy Platten, secretary general of the ICS. We've had ships that have been damaged as well." But ICS is concerned about the safety and health of the remaining 331 seafarers since supplies are very low and they have not been on land in almost a year.

☆ Factbox: Why are oil tankers stuck in Turkish waters?
▼ + stars: | 2022-12-08 | by ( Jonathan Saul | ) www.reuters.com time to read: +5 min

LONDON, Dec 8 (Reuters) - Turkey's maritime authority said on Thursday it would continue to block the passage of oil tankers that don't carry appropriate insurance letters, adding that insurance checks on ships in its waters were a "routine procedure". The logjam is creating growing unease in oil and tanker markets and comes as the G7 and European Union introduce a price cap on Russian oil. Millions of barrels of oil per day move south from Russian ports through Turkey's Bosphorus and Dardanelles straits into the Mediterranean. Ships typically have protection & indemnity (P&I) insurance, which covers third party liability claims including environmental damage and injury. Turkish authorities introduced new requirements, which came into effect at the beginning of December, in which every ship must have P&I insurance cover in place for all circumstances when sailing through Turkish waters or when calling at ports.

[1/3] Cargo ship Despina V, carrying Ukrainian grain, is seen in the Black Sea off Kilyos near Istanbul, Turkey November 2, 2022. The agreement, reached in July, created a protected sea transit corridor and was designed to alleviate global food shortages, with Ukraine's customers including some of the world's poorest countries. So far, some 9.76 million tonnes of agricultural products have been shipped, predominately corn, but also volumes of soybeans, sunflower oil, sunflower meal and barley. A drop in shipments from major exporter Ukraine has played a role in this year's global food price crisis, but there are also other important drivers. At the start of the conflict there were around 2,000 seafarers from all over the world stranded in Ukrainian ports.

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