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UNCTAD: “Ukraine war cuts global growth prospects by 1%”

United Nations Conference on Trade and Development (UNCTAD) has warned that global economic growth will decrease to 2.6% from 3.6% for 2022 due to...

South Korean president-elect wants to revive country’s maritime spirit

South Korean president-elect Yoon Suk-yeol, who won narrowly at the polls on 9 March, wants the country to be a born-again maritime nation. Yoon, previously...

CMA CGM Group delivers emergency humanitarian aid to Ukraine

CMA CGM Group, through its Foundation that supports local community and humanitarian projects, has made a large-scale operation, coordinated by the Crisis and Support...

Dozens missing in ferry-bulker collision on Bangladeshi river

Dozens are feared dead after a ferry and a bulk carrier collided in Bangladesh. On 20 March, the bulker, Ruoshi-9, collided with the ferry Afsaruddin...

UAE-flagged RoRo ship sinks off Iran coast

The United Arab Emirates-flagged roll-on/roll-off (RoRo) ship, Al Shamy 6 sank 48 kilometres off the Iranian Persian Gulf coastal city of Asalouyeh today (17...

Thai tanker explodes, seafarer killed and three more injured

The Thai-flagged product tanker, Smooth Sea 2, exploded when it was ready to depart a terminal in Bangkok, Thailand. The explosion led to the...

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CMA CGM introduces Red Sea contingency fee

Marseille-headquartered box line CMA CGM will implement a contingency charge from 1 March due to the additional expenses caused by rerouting services via the...

WEC Lines enhances its reefer container fleet

WEC Lines has decided to enter the refrigerated container market by adding 45ft reefer boxes to its container fleet. The company has added the first...

Crew from sunken cargo ship saved as South Korean president steps in

All 11 seafarers on a general cargo ship were rescued by the Korea Coast Guard shortly before their vessel sank, in an event that...

Red Sea Crisis: Spiralling ocean freight rates from Far East to US may have peaked

The Red Sea crisis sent ocean freight rates from the Far East to the US spiralling by more than 150%, but there appears to...

Wan Hai and ONE launch joint service to link Asia with US West Coast

Taiwan's ocean carrier Wan Hai Lines has announced the revamp of its Asia-Pacific Service (AP1), to enhance its current network on the United States...