Indian Register of Shipping (IRS), a leading international classification society, is proud to announce the successful delivery of the Double Hull Oil Tanker “MT ELGON” on 16th August 2024. The vessel, built by Mahathi Shipyard Uganda Ltd, under the stringent classification standards of IRS, will commence operations in Lake Victoria, serving the surrounding nations of…
Pratik Bijlani – The Sounion, a Greek-flagged oil tanker carrying 150,000 tonnes of crude oil, was attacked in the Red Sea on Wednesday, resulting in a major maritime security situation. Two small boats approached the vessel about 77 nautical miles west of Yemen’s port of Hudaydah. The attackers opened fire on the Sounion before it…
Capt Kamal Chadha – Banking giants like ING and Citigroup respond to Red Sea incidents by monitoring adherence to safety protocols Major Banks are set to limit loans to shipowners neglecting crew safety, following Red Sea vessel attacks and other controversies shedding light on seafarers’ predicament. Top executives from eight banks, including ING and Citigroup,…
Padmesh Prabhune – China has launched a new generation of highly energy-efficient inland cargo ships. The two ships were launched on August 22 at the Shandong Xinneng Shipbuilding Company. While one of the vessels for container transport runs on LNG, 295 feet (90 meters) in length, the second vessel is 222 feet (67.6 meters) in…
Padmesh Prabhune – In a rare display of skills and watchfulness, the crew aboard the tanker vessel MT Global Beauty successfully rescued two fishermen discovered adrift in the open seas in the waters off the Sri Lankan coast last Saturday, August 24, 2024. According to reports the MT Global Beauty had arrived at Colombo Srilanka…
Conundrum it is! When there is no minimal qualification for legislators and parliamentarians, such law makers can’t be expected to draw up what they intend or revise for the better, from the lessons learnt. Foibles there would be with concoctions! Adversarial nature of lawyers and advocates – do please note salient differentiations between them, rules…
Padmesh Prabhune – Adani Krishnapatnam Port, an all-weather private port operator located on the East Coast of India, unveiled India’s most advanced cargo handling system at the port. The port capable of handling Capesize vessels round the clock throughout the year, caters to a land locked hinterland of South India with multimodal connectivity. The new…
Padmesh Prabhune – The timely intervention of port management officials prevented a three-day strike that was to begin on August 20 by port workers at JNPT. The strike now has been postponed for two weeks until September 9, 2024. Earlier the JNPT Container Operators Association had called for suspension of work beginning August 20 for…
“Whilst not many things have changed in the spot market during the last few trading days, a historic US credit rating downgrade by rating company Fitch made headlines, sending shockwaves in stock markets across the globe. On Tuesday, Fitch cut its US credit rating from triple A to double A plus, citing a mounting government…
Padmesh Prabhune – The Orissa High Court has ordered the sale of the Panama-flagged bulk carrier MV Debi on August 21, 2024, after it failed to settle dues of amounting to around Rs 7.95 crores. The bulk carrier that was involved in a high-profile narcotics bust last year will be auctioned under Section 11(3) of…