The global ship recycling industry is currently at a crossroads due to conflicting mandates under the Basel and Hong Kong Conventions. At the heart of the issue is a legal paradox: while the Basel Convention aims to curb the export of hazardous wastes, it inadvertently classifies operational ships as waste the moment their owners decide…
In the passing of Capt Ashoke Bansal on 28 May ’25 in Chennai, at the ripe age of 92, the Indian Merchant Marine and its legal fraternity have lost a highly knowledgeable and talented professional. Having been bestowed with `Command’ at the tender age of 25 in India’s famous shipping firm Scindia Steam Navigation in…
Indian Register of Shipping (IRS), a leading international ship classification society and member of the International Association of Classification Societies (IACS), is proud to announce the opening of its new office in the Kingdom of Saudi Arabia. This strategic expansion highlights IRS’s commitment to supporting the Kingdom’s rapidly growing maritime and oil & gas sectors.…
Technology group Wärtsilä has announced that its breakthrough carbon capture solution (CCS) is now commercially available to the global maritime industry, delivering a step-change in shipping’s decarbonisation journey. According to Wärtsilä’s tests, the new ‘Wärtsilä Carbon capture solution’ is proven to reduce vessel CO2 emissions by up to 70 percent, providing ship owners with an…
BALTIC INDICES 06/05/2025 DRY INDEX: 1406 (- 15) CAPESIZE INDEX: 2037 (- 42) PANAMAX INDEX: 1360 (- 8) SUPRAMAX INDEX: 957 (+ 2) HANDYSIZE INDEX: 559 (- 1) BCI TC AVG $/DAY 16897 (- 344) BPI82 TC AVG $/DAY 12238 (- 72) BSI TC AVG $/DAY 12097 (+ 20) BHSI TC AVG $/DAY 10066 (-…
The shipping industry has long been the backbone of global trade, facilitating the movement of goods across vast distances. However, the sector is undergoing a transformative shift driven by digitalization. The integration of digital technologies, such as artificial intelligence (AI), blockchain, and the Internet of Things (IoT), is revolutionizing maritime operations. This digital evolution presents…
The Jebel Ali Free Zone (Jafza) is marking its 40th anniversary with record trade growth between India and the UAE, supported by strategic initiatives and infrastructure that connect Indian businesses to global markets. In 2024 alone, DP World’s flagship free zone, saw a 40% rise in trade volume and a 17% rise in trade value…
Indian Register of Shipping (IRS) is proud to announce that CMA CGM Vitoria, a vessel operated by CMA CGM, one of the world’s leading container shipping lines, has been successfully classed with IRS. This milestone marks a significant achievement in IRS’s growing engagement with major global shipping companies and reinforces its standing as a trusted…
