shipping News

Rogue Captain’s Mid-Ocean Detour Tips Investors to Crisis at Sea

Terence Tsai started hearing about the growing labor crisis in shipping in a roundabout way. First, in March, an official at a ship management company in Hong Kong let slip that a captain had purposefully diverted a vessel under its …

Piracy Surge Off West Africa Draws Maersk Call for Action

The world’s biggest shipping company demanded a more effective military response to surging pirate attacks and record kidnappings off the coast of West Africa. The number of attacks on vessels globally jumped 20% last year to 195, with 135 crew …

Ship Insurers Primed to Raise Rates After Red Sea Attacks

LONDON — Insurers are set to raise the cost of providing cover for merchant ships through the Red Sea after a series of incidents that have hit vessels around Saudi Arabian waters, industry sources said. The possibility of more attacks …

China’s Bohai Bay Energy Terminals on Alert as Sea Ice Slows Ships

BEIJING/SINGAPORE — Chinese ports and marine safety authorities are on high alert as an expansion of sea ice makes it tougher for ships to berth and discharge at key energy product import terminals along the coast of northern Bohai Bay. …

Longest Arctic Sailing Season Tops Off a Year of Climate Disasters

Thinning ice in the Arctic Ocean made this year’s navigation season for natural gas tankers the longest on record, the latest sign that the pace of climate change is accelerating in the Earth’s northernmost latitudes. The Northern Sea Route, stretching …

‘External Source’ Causes Oil Tanker Blast Off Saudi Arabia

DUBAI, United Arab Emirates (AP) — An oil tanker off Saudi Arabia’s port city of Jiddah suffered an explosion early Monday after being hit by “an external source,” a shipping company said, suggesting another vessel has come under attack off …

Arctic Headache for Ship Insurers as Routes Open Up

LONDON — When Captain Will Whatley guides a ship through Arctic waters, he is starkly aware of what can go wrong. Double the manpower is needed to navigate. Lookout shifts are kept to just one hour, so sailors don’t lose …

Big Wheat Growers Are Starting to Hoard Supply

The wheat market is starting to get shaken up by the ,. Panic buying of food might have largely eased at grocery stores, but governments are beginning to get more serious about securing supplies of key staples like grains. From …

Insurers Chartering Flights to Ship Gold to Ease Supply Logjam

Insurance firms have started covering charter flights to carry gold, helping to ease logjams in the bullion supply chain that caused prices to diverge sharply in different markets, the London Bullion Market Association said on Thursday. Gold is usually moved …

Tests Raise Alarms Over Fuel Blends Coming for Ocean-Going Vessels

HOUSTON — As a global clean-fuel mandate takes effect Jan. 1, testing companies examining newer, low-sulfur marine blends acquired in Antwerp, Belgium; Houston and Singapore have found sediment at levels that could damage the engines of ocean-going vessels. Routine tests …