German shipping company Hapag-Lloyd is incurring additional costs of $40 million to $50 million per week due to the ongoing conflict in the Middle East, a burden described as 'not sustainable for a long time' by Chief Executive Rolf Habben Jansen on Thursday. Speaking at an online press conference, Habben Jansen said the company was grappling with 'a big challenge' as six of its vessels, with 150 crew members…
Hapag-Lloyd has published its annual report for the 2025 fiscal year, announcing that the group EBITDA stood at $3.6 billion (EUR 3.2 billion) and profits at $1.0 billion (EUR 0.9 billion).The result was at the upper end of the earnings forecast…
Supply disruptions linked to the U.S.-Israeli war on Iran could delay construction of liquefied natural gas projects slated for development in the U.S., Freeport LNG CEO Michael Smith said on Wednesday at the CERAWeek energy conference in Houston…
Ports of Indiana has opened a new federally approved bonded storage facility at its Mount Vernon port, marking a major expansion of capabilities and enabling the port to handle its first barge shipment of aluminum.The shipment, totaling approximately 1…
Ship-refuelling companies along Africa's coast are seeing a surge in business as more vessels divert around the Cape of Good Hope, with war in the Middle East reshaping global shipping routes and boosting the continent's role as a bunkering hub…
Two tankers bound for India sailed through the Strait of Hormuz on Monday, as U.S. President Donald Trump threatened to attack Iran’s power plants unless Tehran drops threats that have effectively closed the Gulf.Gulf nations including Saudi…
Ship-refuelling companies along Africa's coast are seeing a surge in business as more vessels divert around the Cape of Good Hope, with war in the Middle East reshaping global shipping routes and boosting the continent's role as a bunkering hub…
Argentina is shipping out grains at a strong pace this season as record sunflower exports and booming corn sales help absorb one of the country's biggest harvests in years, the Rosario grains exchange said on Friday, though the conflict in the…
A tanker carrying fuel originally bound for Cuba on Friday changed its destination to Trinidad and Tobago, according to LSEG ship-tracking data, a blow for the island amid a severe fuel scarcity that has triggered power blackouts.The Hong Kong…
Independent Port Consultants (IPC) has strengthened its advisory capabilities with the addition of a senior port technology specialist in Dubai and an ESG expert, as demand grows for digitalization and sustainability support across the ports sector…
Asian refiners are increasingly sending medium-sized crude cargoes from the U.S. Gulf Coast to Asia through the Panama Canal as the U.S.-Israeli war with Iran disrupts trade flows, raises shipping costs and forces Asian refiners to hunt for alternative supplies…
ExxonMobil, BP and Vitol are shipping a record volume of oil products to Australia from the U.S. in March, shipping data from trading sources shows, filling a gap left by the loss of regular volumes from Asia as the Iran conflict disrupts supplies…
GT Wings has signed a Memorandum of Understanding (MoU) with Zunsion Technology in China to establish a strategic manufacturing partnership for its AirWing Jet Sail wind propulsion system.The agreement creates a framework for industrial scale production of AirWing units in China…
Iran accused Israel of striking its facilities in the huge South Pars gas field on Wednesday in a major escalation in the U.S.-Israeli war that sent oil prices shooting higher, and retaliated by vowing attacks on oil and gas targets throughout the Gulf…
Saudi Arabia's crude oil loadings at its Yanbu port on the Red Sea are set to surge to a record 3.8 million barrels per day (bpd) in March, shipping data showed on Wednesday, after the U.S.-Israeli war on Iran effectively shut exports via the Strait of Hormuz…
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