Weekly Review
Dry Markets – Typically, late July’s dry bulk shipping reports are vibrant, filled with speculations on the Baltic indices’ peaks. However, this year has been an anomaly, with such discussions vanishing into obscurity. On Thursday, the Baltic Dry Index (BDI), a key activity indicator in the dry bulk sector, plunged back into the three-digit range,…
Red Sea Attacks on Merchant Ships Results in Declining Vessel Traffic
Padmesh Prabhune – The maritime security landscape in the Gulf of Aden, Bab al Mandeb Strait, Red Sea, Somali Basin, and Arabian Sea Region has been severely affected by the increasing attacks and the geographical spread of attacks on merchant vessels from November 2023 to June 2024 has significantly disrupted maritime trade in the region,…
Indian Navy Successfully Evacuates Critically Injured Crew off Mumbai
Padmesh Prabhune – The Indian Navy in a joint operation with the Maritime Rescue Co-ordination Centre, (MRCC), Mumbai successfully evacuated a critically injured Chinese crewmember (51 Yrs) from the Panama flagged Bulk Carrier ZHONG SHAN MEN, 200nm (approx 370km) from Mumbai, while en route to port of Sohar, Oman. According to reports, MRCC Mumbai received a…
Record-Breaking Growth in Container Fleet Capacity
Pratik Bijlani – In this week’s “Shipping Number of the Week,” Niels Rasmussen, Chief Shipping Analyst at BIMCO, discusses the extraordinary expansion of container fleet capacity, which represents the greatest growth in 15 years. The fleet’s capacity has increased by 1.6 million TEU since the beginning of the year, representing an excellent 11% year-over-year rise,…
Fire on MV Maersk Frankfurt off Goa Coast under Control – 21 rescued, one casualty
Padmesh Prabhune – The fire that broke out on July 19 on the merchant navy ship enroute to Srilanka, off the coast of Goa is under control; however unfortunately one crew member has died in the blaze while trying to douse the fire, while the rest are safe. In a statement the Indian Coast Guard…
Oman Oil Tanker: Rescue Efforts Meets Some Success with 9 of 16 Crew Found Alive
– Padmesh Prabhune Indian Navy’s warship INS Teg has rescued as of today nine crew members out of 16, who went missing after an oil tanker capsized off the coast of Oman. The navy warship has been deployed for Search and Rescue assistance for the capsized oil tanker and search and rescue operations are underway…
Indian Coast Guard successfully coordinated search and rescue operation for stranded IFB Aashni
Despite heavy rains and severe weather conditions, the Indian Coast Guard successfully coordinated a search and rescue effort for the stranded IFB Aashni (IND-TN-12-MM-6623) ex-Thoothukudi on July 17, 24. During the late hours of July 16, an Indian Coast Guard Dornier aircraft conducting maritime surveillance discovered and sighted a troubled Indian fishing boat (IFB) with…
