Technology group Wärtsilä will supply replacement engines for two inland waterway tug pusher vessels operating in Paraguayan rivers. The vessels are owned by ADM Naviera Chaco (ADM). The vessel modifications and new engine installations will be carried out in Asuncion-Paraguay. The orders were booked by Wärtsilä in Q2 and Q4 2024. The new engines will…
In a week dominated by miners’ quarterly and annual economic results, the Reserve Bank of Australia (RBA) made headlines with a pivotal policy decision. Australia’s central bank cut interest rates by 25 basis points to 4.1 percent for the first time in more than four years on Tuesday but warned that it was too early…
The “One Nation One Port” scheme, a visionary initiative by the Indian government, aims to revolutionize the maritime sector by integrating and streamlining the operations of ports across the country. This policy is expected to bring uniformity in port management, enhance efficiency, and boost India’s global trade competitiveness. However, the scheme also poses several challenges…
On February 20th and 21st NYK Ship Management (NYKSM), a subsidiary of the renowned NYK Group, hosted its annual NYKSM Officers’ Dialogue 2025 at the Navi Mumbai Marriott Hotel. This significant two-day event, themed Safety and Compliance First, brought together NYKSM seafaring Officers, industry leaders and maritime professionals to discuss key operational strategies, safety measures,…
The maritime industry is set to witness a historic event that will unite its stakeholders through the spirit of sportsmanship. The Directorate General of Shipping (DGS) has announced the launch of the Maritime Games, a championship that aims to promote camaraderie, well-being, and industry relationships. Mr Shyam Jagannathan, Director General of Shipping said, “The Maritime…
-Jagdamba Prasad Pandey In a significant move to strengthen the maritime industry’s future, Dr Harry S. Banga and Mr Angad Banga of The Caravel Group proudly announce their acquisition of the International Maritime Institute (IMI), India’s premier maritime academy. This strategic acquisition reinforces The Caravel Group’s commitment to developing the next generation of global maritime…
DP World has set up women-led shifts at its warehouse operations in Gujarat and Rajasthan with plans to broaden this initiative to its facilities in Bihar and Uttar Pradesh. The leading global provider of smart end-to-end supply chain solutions launched the pilot project last year with an all -women shift at its sorting facility in…
Our scriptures clearly state that the cycle of life and death is the rule of nature. What is created will be destroyed. That is the universal truth. However, once in a while, when the reality of ‘universal truth’ hits, one can’t help, but look heavenwards and scream ‘WHY?? WHY him? Yes, we know that GOD…
India’s Oil and Natural Gas Corp is seeking joint venture partners to build very large Ethane carriers (VLEC’s) to ship feedstock for its petrochemical plant in Western India. India’s ONGC is seeking joint venture partners to build very large ethane carriers (VLEC’s) to ship feedstock for its petrochemical plant in Western India. ONGC Petro additions…
Baltic Dry Index: 1228 (-34) Baltic Capesize Index: 1894 (-75) Baltic Panamax Index: 1000 (-24) Baltic Supramax Index: 868 (-8) Baltic Handysize Index: 549 (1) CAPESIZE The capsize market experienced a somewhat mixed day as the BCI 5TC fell by $617, settling at $15,711. On a positive note, it was encouraging to see all three…