Category Archives: Shipping industry

Iran has largely halted oil and gas exports through strait of Hormuz

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At least four tankers have been struck by drones and maritime traffic has dropped by 80%, reports say

Iran has in effect closed the strait of Hormuz to oil and gas exports for the past four days with a mixture of drone strikes and fear that has halted commercial maritime traffic despite intense US attacks on Iran’s navy.

At least four tankers have been struck and Lloyd’s List Intelligence reported that seaborne traffic had dropped by 80% on Sunday, with little sign of a return as key maritime insurers cancelled cover the next day.

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China calls for vessels in strait of Hormuz to be protected amid soaring shipping costs

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Beijing’s foreign ministry urges ‘all parties’ to avoid escalation as number of crossings drops 60% in one day

The Chinese government has called for vessels passing through the strait of Hormuz to be protected by all sides in the escalating Iran conflict, as shipping freight rates soared.

Maritime traffic through the strait – a narrow channel on Iran’s southern border that connects the Persian Gulf with the Gulf of Oman – has effectively been closed since the US and Israel launched missile attacks on Iran at the weekend, prompting a retaliation from Tehran.

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Ferries emit ‘more sulphur pollution than cars’ in several EU capitals

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Dublin, Helsinki, Stockholm and Tallinn among port cities more choked by sulphur oxides from ferries, analysis shows

Fume-belching ferries spew more sulphur pollution than cars in several EU capitals, analysis has found.

Dublin, Helsinki, Stockholm and Tallinn are among 13 of Europe’s 15 biggest port cities choked more by sulphur oxides (SOx) from ferries than road vehicles, data shared exclusively with the Guardian shows.

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Maritime insurers cancel war risk cover in Gulf as Iran conflict disrupts shipping

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Strait of Hormuz is effectively closed and vessels rerouted, sending some freight costs surging

Leading maritime insurers have cancelled war risk cover for vessels operating in the Gulf as the escalating Iran conflict disrupted shipping and sent some freight costs surging.

At least 150 vessels including oil and liquefied natural gas tankers have dropped anchor in the strait of Hormuz and surrounding waters, and at least three tankers were damaged and one seafarer killed over the weekend.

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Suspected Russian ‘shadow fleet’ tanker seized in North Sea

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Belgian special forces boarded the Ethera, which was sailing under the flag of Guinea, on Saturday night

Belgium has seized an oil tanker believed to form part of the so-called “shadow fleet” used by Russia to circumvent western sanctions over the war in Ukraine.

Special forces assisted by French helicopters boarded the ship in a clandestine operation in the North Sea on Saturday night, Belgium’s defence minister, Theo Francken, said on Sunday.

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Treasure hunters discover $1m in silver and gold coins off Florida coast

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Valuables were being transported in 1715 from American colonies when a hurricane wrecked a Spanish fleet

Hidden beneath the turquoise waters off a stretch of Florida known as the “treasure coast”, a team of divers from a shipwreck salvage company have uncovered exactly that – a load of long-lost Spanish treasure they estimate is worth $1m.

More than 1,000 silver and gold coins thought to be minted in the Spanish colonies where Bolivia, Mexico and Peru now sit were uncovered this summer off Florida’s Atlantic coast, 1715 Fleet-Queens Jewels LLC announced this week.

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Seafarers from cargo ship attacked by Houthis rescued after 48 hours in water

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Four more people rescued, with 11 still missing and six believed kidnapped, after Eternity C sank in Red Sea

Four seafarers have been rescued after spending more than 48 hours in the waters of the Red Sea, as the search continued for the remaining crew of the Greek ship Eternity C, which was sunk by Houthi militants in an attack that killed at least four people.

Thursday’s rescue brought the number of those saved to 10 – eight Filipino crew, one Indian security guard and a Greek guard.

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Seven crew rescued from cargo ship that sank in Red Sea after Houthi attack

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Search goes on for 14 people missing from Eternity C after assault in which at least four were killed

Seven crew members of a cargo ship that sank in the Red Sea after an attack by Houthi forces have been rescued but at least four were killed and 14 others are still missing.

The seven seafarers from the cargo ship Eternity C spent more than 24 hours in the water before being rescued, according to security firms involved in the operation. Rescuers are still searching for missing crew members.

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Low water levels push up shipping costs on Europe’s rivers amid heatwave

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Vessels on Rhine in Germany and Danube in Hungary forced to sail partially loaded

Low water levels after heatwaves and drought are limiting shipping on some of Europe’s biggest rivers including the Rhine and the Danube and pushing up transport costs.

As much of Europe swelters in hot temperatures, water levels in its main rivers have fallen. This is affecting shipping along the Rhine – one of Europe’s key waterways – south of Duisburg and Cologne in Germany, including the choke point of Kaub, forcing vessels to sail about half full.

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Oil tanker involved in North Sea collision to be towed to Port of Tyne

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About 200,00 barrels of jet fuel to be transferred before Stena Immaculate is taken to north-east coast for inspection

A US oil tanker that was hit by a container ship in the North Sea is to be towed to the north-east of England after more than 200,000 barrels of jet fuel are removed over the weekend, a maritime company has said.

The Solong collided with the anchored tanker Stena Immaculate about 12 miles off the coast of East Yorkshire on 10 March, leaving one man missing, presumed dead. Crowley, which manages the Stena Immaculate, said salvage and recovery operations are moving into the next phase.

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China criticises Hong Kong firm’s sale of majority stake in Panama ports

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Commentary urged CK Hutchison to ‘think twice’ about ‘what position and side they are on’ in sale to US investors

China has criticised the sale of the business that controls ports in Panama to US investors, saying the Hong Kong-based parent company should “think twice” and that the $22.8bn deal is “power politics” that is not in the country’s national interest.

Shares in the Hong Kong-based conglomerate CK Hutchison fell more than 6% on Friday after a critical commentary appeared in the Beijing-backed newspaper Ta Kung Pao in Hong Kong.

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Brazil asks UN to ditch proposed levy on global shipping

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Those supporting the deal hope it will raise billions to help poor countries deal with climate breakdown

Brazil has asked the UN to throw out plans for a new levy on global shipping that would raise funds to fight the climate crisis, despite playing host to the next UN climate summit.

The proposed levy on carbon dioxide emissions from shipping will be discussed at a crunch meeting of the International Maritime Organisation (IMO) that begins on Monday. Those supporting the deal, including the UK, the EU and Japan, are hoping the levy will raise billions of dollars a year, which could be used to help poor countries cope with the effects of climate breakdown.

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‘Eyewatering’ £100m spent on repairs in Scotland’s ‘ferry fiasco’ over past decade

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Government plans for publicly funded operator CalMac have been mired in controversy, with replacement vessels delayed and costs spiralling

Almost £100m has been spent over the past decade on repairs for eight of the largest publicly owned ferries in Scotland.

The figure has been described as “eye-watering” by Sue Webber, transport spokesperson for the Scottish Conservatives, who obtained details of the repair bill from ferry operator CalMac.

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Russian cargo ship sinks in Mediterranean after explosion in engine room

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Two crew members from Ursa Major are missing and 14 have been rescued, Russian foreign ministry says

An engine room explosion sank a Russian cargo ship called Ursa Major in the Mediterranean Sea between Spain and Algeria and two of its crew are missing, the Russian foreign ministry has said.

The vessel, built in 2009, was controlled by Oboronlogistika, a company that is part of the Russian defence ministry’s military construction operations, which had previously said it was en route to the Russian far-eastern port of Vladivostok with two giant port cranes lashed to its deck.

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Ministers urged to cut ties with P&O Ferries owner over links to Russia

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The government is facing calls to cease trading with DP World because of its partnership with Putin’s northern sea route

Ministers are facing calls to review the UK’s financial ties to the multinational logistics company DP World over its business deals in Russia.

The business announced a £1bn expansion of the London Gateway port earlier this month, despite a row over the transport secretary, Louise Haigh, calling its ferry subsidiary, P&O Ferries, a “rogue operator”.

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Spanish shipbuilder Navantia in exclusive talks to buy Harland & Wolff

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Deal to rescue owner of four UK shipyards, including Belfast shipyard that built the Titanic, could save up to 1,000 jobs

Spanish shipbuilding firm Navantia is in exclusive negotiations to buy Harland & Wolff, the owner of the Belfast shipyard that built the Titanic, in a deal that could rescue up to 1,000 jobs.

It is understood the group could take control of the group’s four yards – in Belfast; Appledore, Devon; Arnish on the Isle of Lewis; and Methil, Fife – as early as next month.

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Starmer steps into cabinet row over P&O to rescue global summit in London

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The PM has backed transport secretary Louise Haigh after she called ferry firm a ‘rogue operator’, threatening investment summit

Keir Starmer expressed his full confidence on Saturday in the transport secretary, Louise Haigh, after an explosive cabinet row cast fresh doubt over his Downing Street operation and threatened to overshadow a key international investment summit in London.

Government sources said the prime minister and Haigh had spoken and made up on Saturday after Starmer appeared to rebuke her on Friday for branding P&O Ferries a “rogue operator” in a statement and then calling for customers to boycott the company in a subsequent media interview.

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New UK laws to stop repeat of P&O mass sackings scandal go before parliament

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Labour clamps down on poor working conditions at sea with laws on collective dismissal and minimum wage on cross-Channel ferries

Laws to ensure that the P&O Ferries mass sackings scandal can never recur will be laid before parliament this week as Labour clamps downs on poor working conditions at sea, with cruise and cargo ships also in its sights.

The transport secretary, Louise Haigh, said the new laws would close the loopholes exploited by P&O when it fired 800 crew without warning in 2022, and any company would now face unlimited fines for acting in such a way.

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Financial markets could still avoid panic amid oil price risk in Middle East crisis

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Oil prices rose by more than 4% as Israeli troops moved into Lebanon and Iran launched missiles on Israel

As Israeli troops moved into Lebanon and Iran launched a missile attack on Israel, the risk of a jump in oil prices that could trigger another global inflation shock appeared to be materialising.

Oil prices rose by more than 4% to about $75 a barrel on Tuesday.

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Biden urges port operators to increase wages after 45,000 workers go on strike

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Strike – the first by port workers on US east coast since 1977 – threatens to shut down ports from Maine to Texas

Joe Biden has urged port operators to give workers a “meaningful increase” in pay after tens of thousands went on strike, prompting some of the busiest ports in the US to brace for crippling disruption.

About 45,000 port workers represented by the International Longshoremen’s Association (ILA) began walking off the job after their contracts expired at midnight, with 36 ports along the east and Gulf coasts affected. They typically handle about half of the nation’s ocean shipping.

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