Ocean Rig News

 

Container Shipping Companies Cut Asia-US Services

May 11, 2025

Major container shipping companies are suspending at least six scheduled weekly routes between China and the United States as President Donald Trump's punishing tariffs on the world's top exporting country collapse trade, maritime consultants said.The ships on those routes have the combined capacity to deliver 25,682 40-foot containers stuffed with toys, tennis shoes, car parts and things U.S. manufacturers use to produce goods each week - or more than 1…

Mitsui OSK: Shipping in the Gulf Continues, Closely Monitoring Situation

Jun 17, 2025

Japan's second-largest shipping company, Mitsui O.S.K. Lines (MOL), is operating as usual in the Gulf while closely monitoring the situation in the region, CEO Takeshi Hashimoto said on Tuesday.'We are operating so many containers, car carriers and chemical tankers so that it is very…

Shipbuilding: ONE Singapore Joins the Fleet

Jun 17, 2025

Ocean Network Express (ONE) named the 13,900-TEU ONE Singapore, the sixth vessel in a series of 20 ammonia/methanol ready container vessels. The naming ceremony took place at the Hiroshima Shipyard of Imabari Shipbuilding Co. Ltd. in Japan, marking another milestone in ONE's fleet expansion program…

Xeneta: Israel-Iran Conflict Threatens Safety and Stability of Ocean Supply Chains

Jun 13, 2025

Peter Sand, Xeneta Chief Analyst, shared insights following the escalation of the Israel-Iran conflict.“Geo-politics is once again threatening the safety and stability of global supply chains so we must hope for de-escalation in the conflict between Israel and Iran…

ORLEN Group Opens Poland’s First Offshore Wind Installation Terminal

Jun 11, 2025

ORLEN Group has opened Poland’s first installation terminal dedicated to offshore wind farms, located in Świnoujście, with the facility securing its first long-term lease agreement with global offshore wind player Ocean Winds.The Świnoujście…

IMO: Global Shipping Industry Gearing Up For Net-Zero Transition

Jun 09, 2025

IMO Secretary-General Arsenio Dominguez emphasized the global shipping industry's need for significant investment in technology and alternative fuels to achieve a net-zero transformation and drive sector-wide change at the Blue Economy Finance Forum in Monaco…

Ports of Indiana, Port of Antwerp-Bruges Explore Indiana-Belgian Partnership

May 22, 2025

Ports of Indiana welcomed a delegation led by the Port of Antwerp-Bruges today on a trade mission exploring economic opportunities and new container shipments between the U.S. Midwest and European markets.The day’s events included a tour of Ports of Indiana-Burns Harbor…

Investcorp to Invest $550M in Oman’s Port of Duqm Expansion

May 19, 2025

Alternative investment firm Investcorp has signed a cooperation agreement to invest in a $550 million infrastructure project in Port of Duqm in Oman.Investcorp Aberdeen Infrastructure Partners (AIIP) – a joint venture with Aberdeen plc, will be the shareholder in the project…

CMA CGM to Redeploy Fleet to Avoid US Port Fees on Chinese Vessels

May 16, 2025

French shipping group CMA CGM will reorganise its global fleet to avoid U.S. port fees on Chinese-built vessels that are due to take effect from October, the company's finance director said.The port charges are another operational headache for shipping firms wrestling with the fallout from U…

Panama Canal Vessel Transits Increase to 34 Per Day in April

May 12, 2025

The number of vessels that passed through the Panama Canal rose to an average of 34 per day for a total of 1,021 transits last month, from an average of 33.7 per day in March, according to a bulletin published by the waterway's authority.In the first four months of 2025…

Maersk Reports First Quarter Drop in Revenue Growth

May 11, 2025

For the first quarter of 2025 A.P. Moller - Maersk A/S (Maersk) reports revenue growth of 7.8% to $13.3 billion with EBIT increasing to $1.3 billion from $177 million a year ago.The company states that these results, while sequentially down as expected…

Panama Canal Administrator Outlines the Waterway’s Evolving Role in Global Trade

May 09, 2025

The Panama Canal Administrator, Dr. Ricaurte Vásquez Morales, delivered the 43rd Annual William A. Patterson Distinguished Transportation Lecture at Northwestern University this week, in which he laid out the crucial role the Panama Canal has…

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