Business
NGO Shipbreaking Platform Reports on 2025 and Calls for More Regulation
The NGO Shipbreaking Platform compiled a report on the ships sold for dismantling in 2025 while calling for continued efforts to improve the industry’s adherence to safety and environmental regulations. The group highlights that despite the Hong Kong Convention coming into effect at mid-year, there was little improvement in the performance of the shipbreakers. The […]
AD Ports Group to operate Aqaba Multipurpose Port in Jordan
The Aqaba Multipurpose Port handles a diverse range of cargo, including general cargo, grains, livestock, Ro-Ro, and project cargo. The port has an annual handling capacity of 11 million tonnes, supported by nine berths, a quay length of two kilometres, and a draught of 13.5 metres. The Aqaba Multipurpose Port, marks the AD Ports Group’s […]
Hydrofoil boat to conduct trial sailings in Queenstown, New Zealand
New Zealand-based marine technology company Vessev will trial its hydrofoil tour boat on Lake Wakatipu in the city of Queenstown. The sailings to be conducted by the nine-metre tour boat Kermadec as part of a broader project that seeks to determine the viability of electric hydrofoiling transport at scale. The trial, led by residential developer […]
China Moves to Penalize Panama for Court Ruling Against CK Hutchison
The Chinese government has reportedly forced a pause on infrastructure deals in Panama in retaliation for a Panamanian court’s decision to suspend CK Hutchison’s seaport operations contracts, according to Bloomberg. The development comes as Hong Kong-based Hutchison launches an arbitration process against Panama over the cancelation. Last week, the Panama Supreme Court ruled that contracts […]
Russia’s State Transport Leasing Company acquires new inland dredger
The CSD has an LOA of 65.56 metres, a beam of 10.89 metres, and a displacement of 1,005 tonnes. Power is provided by diesel generators. Federal river transportation agency Rosmorrechflot will operate the CSD while ownership will remain with STLC. The acquisition of the Project Ts490DM1 CSDs is part of a broader initiative by the […]
Maersk Predicts Difficult Times for Industry After a Strong Performance
Maersk, long considered a bellwether of the container shipping industry and broader global economy, presented a bleak near-term outlook as it reported 2025 financial results. The company pointed to the continued uncertainties in global trade as well as a growing overcapacity in container shipping, which it foresees contributing to further declines in freight rates and […]
Regent Secures a Buyer for its WIG Passenger Craft in Latin America
All-electric wing-in-ground craft company Regent Craft has sold another 10 units to a passenger plane company – this time, Synerget, a Brazilian firm in the business aircraft sales & service segment. Synerget has agreed to buy 10 of the 12-passenger Viceroy models that Regent has designed for coastwise routes, with first deliveries slated for 2029. […]
Captain of Solong Gets Six Years as Court Cites “Complacency and Arrogance”
A judge at the UK’s “Old Bailey” court in London sentenced the former master of the Single containership to six years in jail for causing the death of a seafarer in the fiery 2025 allision with the tanker Stena Immaculate. A jury on Monday had found Vladimir Motin, age 59 of Russia, guilty of gross […]
HJ Shipbuilding reports eight-fold YOY profit jump in 2025
HJSC’s shipbuilding division saw improvements in both revenue and profit structure by 2025. With its contribution having fallen to just 18 per cent of total revenue in 2022, the shipbuilding division achieved rapid recovery as the shipbuilding industry gradually picked up, and the division contributed nearly 50 per cent of group revenue by 2025. The […]