Much has been said about the China deceleration and it is beginning to look as if it is speeding up rather than finding a floor. The CSI 300 closed today at its lowest in nearly six years. Latest data shows Chinese steel rebar prices at sub $430 a ton, the lowest level since early 2017,…
Kamal Chadha – Egypt’s president announced on Sunday last that the nation has experienced a staggering 60% drop in Suez Canal revenues, translating to a loss of over $6 billion in recent months. This decline is largely attributed to attacks by Yemen’s Houthi rebels, which have disrupted shipping routes in the Red Sea. President Abdel…
As the maritime industry matures, the emergence of Maritime Autonomous Surface Ships (MASS) poses substantial legal challenges and opportunities. By 2024, the integration of MASS into global shipping operations will demand a thorough examination and adaption of existing maritime laws and regulations to address the particular challenges that these vessels present. The International Maritime Organisation…
Global shipping and financial markets closely monitored central bank meetings this week, as policymakers in major economies outlined their strategies for future monetary policy. The US Federal Reserve, the Bank of England, the Bank of Japan, and the People’s Bank of China made pivotal announcements that are set to influence economic growth and interest rate…
Pratik Bijlani – On September 18, 2024, the Bamboo Plantation Inauguration Ceremony at St. Jude India Childcare Centre, Sewri, Mumbai, marked a significant step toward sustainability, jointly organized by D.G. Shipping, Mumbai Port Authority, ANA (Amazeng Nautical Association), and WICCI (Women’s India Chamber of Commerce and Industry). This event aimed to transform Mumbai Port Authority…
On 26th September, ISWAN launched two new guides for the shipping, cruise, and superyacht industries that set out how building a culture of allyship can make life and work at sea safer and more inclusive for all. The resources form part of ISWAN’s global campaign: ‘Safe at Sea…it takes all of us!’, which focuses on…
Pratik Bijlani – On 24th September 2024, the Director General of Shipping (DGS) and the National Maritime Day Celebration (NMDC) Committee commemorated World Maritime Day at the Maritime Training Institute (MTI) in Powai, Mumbai. This globally significant event, organized by the International Maritime Organization (IMO), shines a spotlight on the maritime industry’s vital role in…
Padmesh Prabhune – A Croatian Capt. Marko Bekavac, and his first officer Ali Al-bokhari, aboard the ‘Phoenician M.’, a 34,000-dwt Panama-flagged bulker built in 2010 have been sentenced to 30 years’ imprisonment in Turkey after being found guilty of smuggling 137kg of cocaine. Incidentally, Bekavac has a 30-year record at sea with no reported offences.…
Padmesh Prabhune – Cochin Shipyard Ltd (CSL) one of the largest shipbuilding and maintenance facilities in the country will build 65 ships worth 22,000 crores, fuelled by green energy for Indian and international clients, including the Indian Navy. According to reports, CSL has an all-time-high order book of around ₹22,000 crore, involving building 65 ships,…