As we approach the final trading days of the year, the Baltic Dry Indices reflect the tempered realities of 2024, a year marked by subdued performance compared to the highs of 2023. The fourth quarter, once a period of peak activity for dry bulk trades, has been muted, with all market segments struggling to replicate…
It has been a busy week in the world of geopolitics. In the US, President Biden pardoned his son Hunter for tax and gun crimes which he had admitted to and been convicted for, despite earlier saying that a presidential pardon would not be given. This move ruins Biden’s reputation for probity and may speak…
Mumbai,18 December 2024 – The Foreign Owners and Ship Managers Association (FOSMA) and the National Union of Seafarers of India (NUSI) have come together to address a critical need in the maritime industry: the creation of a skilled cadre of marine fitters and pumpmen. This groundbreaking initiative, launched collaboratively, aims to establish a formal system…
In late October 2024, an oil spill occurred during bunkering operations at Singapore’s Changi port, resulting in the release of approximately five tonnes of bunker fuel into the surrounding waters. The incident took place when oil overflowed from the Bahamas-flagged bulk carrier Ines Corrado while refuelling, prompting an immediate halt to operations. The Maritime and…
Padmesh Prabhune – The Union Minister of Ports, Shipping & Waterways (MoPSW), Shri Sarbananda Sonowal unveiled a major policy for Cargo Promotion – ‘Jalvahak’ – incentivising movement of long-haul cargo via National Waterways 1 (river Ganga) as well as for National Waterways 2 (river Brahmaputra) and National Waterways 16 (river Barak) in Kolkata on Sunday…
Padmesh Prabhune – A meeting was held recently at the Mumbai office of RLC Labour Commission (central) for verification of membership of Unions operating as trade unions in Indian National Shipowners Association. The meeting for discussion of verification process was organized by the deputy RLC of the central division. All the stakeholders, including Capt. Daniel…
Padmesh Prabhune – Union Minister of Road Transport and Highways, Nitin Gadkari has assured that the uncertainty prevailing over the construction of the much-needed road connecting the Vizhinjam International Seaport to National Highway 66 will soon be over. Gadkari stated that the port, managed by Adani Ports, had initially committed to building the road but…
