The Red Sea crisis has put plans of some operators to replace aging fleets with newer more fuel-efficient ships on the backburner.
From impacting the cost of freight to the cost of energy, tensions in the Red Sea are having a direct impact on global trade
Maritime transport currently contributes to 3 per cent of global greenhouse gas emissions, which amounts to a massive 1,708 million metric tonnes
The Red Sea tensions have spurred cargo delivery disruptions and soaked up excess vessel capacity, raising global shipping costs
The Rubymar went down in the southern Red Sea late on Friday or early on Saturday
The new service marks the 19th shipping route launched globally by the company since October 2022
While the situation remains volatile and subject to change, the newly-released data is best indication of where the market is headed
Recently, four tankers carrying Russian Urals crude passed through the Bab-el-Mandab strait with another three heading south through the Red Sea
About 4 to 5 unauthorised individuals boarded a vessel near Oman on Thursday, a security group has reported
Ships flying the Cameroon flag have been added to a list of banned vessels by the UAE
German shipping firm Hapag-Lloyd will continue to circle around the Cape of Good Hope as issues in the Red Sea remain
The Suez Canal is an important source of dollar revenues for Egypt
Blinken’s visit to the region comes amid an escalation to the crisis in the Middle East
About 12 per cent of world shipping traffic transits the canal and 4-8 per cent of global LNG cargoes have passed through it in 2023
The Middle East crisis is already raising shipping and insurance costs through the critical Red Sea area
AD Ports’ acquisition signifies an increase of around 20 per cent in offshore and subsea capacity for the group, boosting Middle East and Southeast Asia operations
The company kept its full-year guidance for revenue and operating profit but now expects both to land at the lower end of the range
The upcoming cruise season promises significant growth with Abu Dhabi Cruise Terminal slated for 126 calls, starting from November 1.
Dubai is the only Arab city on the Index that features 20 of the world’s most prominent international maritime centres
Al Seer Marine recently announced a strong revenue profit of Dhs1.11bn for 2022
The service aims to improve commercial connectivity and facilitates trade with Kuwait
The law outlines the authority’s responsibilities, including planning and policy development for overseeing the emirate’s seaports and terminals
The agreement will enable collaboration across shipping, logistics, freight forwarding and port management
The new joint venture will provide offshore services as well as crude transportation for energy companies operating in the Caspian Sea and the Black Sea
The emirate has a strategic location on the country’s east coast and is a key shipping hub
The new container shipping service links Karachi with the region’s major ports within UAE, Saudia Arabia, Egypt, Jordan, Sudan and Djibouti
The tankers will be LNG ready and are being designed to be ready to adapt to new fuels such as ammonia and methanol
DP World’s plans include replacing its global fleet of assets from diesel to electric, investing in renewable power and exploring alternative fuels
The transaction is expected to close in Q1 2023 subject to regulatory approvals,
The entities will jointly develop procedures for the use and implementation of unscrewed surface vessels, establishing a remote and autonomous testing site for these vessels