1. Rising shipping costs hit global trade hard. The significance of the Red Sea shipping route for global trade is enormous. But for over six months now, Houthi militias from Yemen have been attacking ships in the region for their ownersâ or operatorsâ ties to Israel. The attacks come as Israel executes its war against the militant group Hamas in Gaza following its massacre of Israeli citizens on October 7 of last year.
https://cyprusshippingnews.com/2024/07/12/rising-shipping-costs-hit-global-trade-hard/
https://cyprusshippingnews.com/2024/07/12/rising-shipping-costs-hit-global-trade-hard/
2. Samsung, HMM clash in US over shipping rates. Samsung Electronics and HMM are engaged in an escalating legal dispute concerning Samsungâs refusal to compensate the shipping company for freight transport services in the United States, according to documents from the U.S. federal and district courts, Tuesday.
https://cyprusshippingnews.com/2024/07/12/samsung-hmm-clash-in-us-over-shipping-rates/
https://cyprusshippingnews.com/2024/07/12/samsung-hmm-clash-in-us-over-shipping-rates/
3. Bio-LNG bunker fuel key to supporting LNGâs future in stricter maritime emissions climate. While the bio-LNG bunkering market is still in its infancy companies have been closely eyeing the market as a means of meeting emissions targets and bolstering LNGâs future as a marine fuel, particularly following Hapag-Lloydâs watershed tender for supply of biomethane in 2025-2026.
https://cyprusshippingnews.com/2024/07/12/bio-lng-bunker-fuel-key-to-supporting-lngs-future-in-stricter-maritime-emissions-climate/
https://cyprusshippingnews.com/2024/07/12/bio-lng-bunker-fuel-key-to-supporting-lngs-future-in-stricter-maritime-emissions-climate/
4. U.S. container import volume in June 2024 posts further strong year-on-year gains as labor talks stall at South Atlantic and Gulf Coast ports. June 2024 U.S. container import volume declined 2.1% from May but increased 10.4% compared to the same month last year. Compared to May 2024, imports from China remained flat in June 2024 but boasted 13.8% growth over June 2023. Port transit delays at most West Coast Ports improved while East and Gulf Coast ports experienced marginal increases.
https://cyprusshippingnews.com/2024/07/12/u-s-container-import-volume-in-june-2024-posts-further-strong-year-on-year-gains-as-labor-talks-stall-at-south-atlantic-and-gulf-coast-ports/
https://cyprusshippingnews.com/2024/07/12/u-s-container-import-volume-in-june-2024-posts-further-strong-year-on-year-gains-as-labor-talks-stall-at-south-atlantic-and-gulf-coast-ports/
5. Germany: Hamburg port workers on âwarning strikeâ over pay. Employees have brought Germanyâs two biggest container hubs to a standstill, with workers at a third port set to join them. The union Verdi hopes to put pressure on port operators in collective bargaining over wages.
Workers at the Port of Hamburg stopped work early on Tuesday, with their colleagues at Bremen-Bremerhaven taking the same action several hours later.
https://cyprusshippingnews.com/2024/07/12/germany-hamburg-port-workers-on-warning-strike-over-pay/
https://cyprusshippingnews.com/2024/07/12/germany-hamburg-port-workers-on-warning-strike-over-pay/
6. Salvage of grounded Ultrabulk vessel underway. Work has begun on salvaging contents from the Ultrabulk-managed general cargo vessel Ultra Galaxy grounded in a remote coastal area northwest of Cape Town, South Africa.The vessel is almost fully beached on its side in a remote coastal area known as Duiwegat, dominated by a patchy, rocky landscape with stretches of sandy beaches.
https://splash247.com/salvage-of-grounded-ultrabulk-vessel-underway/
https://splash247.com/salvage-of-grounded-ultrabulk-vessel-underway/
7. Greeks pounce on MR newbuild slots. Greek interest in newbuild MR tanker tonnage continues strong, with fresh orders tipped to be coming from the Vafias family and Monte Nero Maritime.Shipbroking sources report Harry Vafias-backed outfit Brave Maritime securing two newbuilds in a $108m deal recently revealed at Hyundai Mipo Dockyard in South Korea.
https://splash247.com/greeks-pounce-on-mr-newbuild-slots/
https://splash247.com/greeks-pounce-on-mr-newbuild-slots/
8. U.S. Coast Guard Encounters Chinese Military Ships in Bering Sea. The U.S. Coast Guard encountered multiple military ships from the Peopleâs Republic of China in the Bering Sea over the weekend.On Saturday and Sunday, the crew of the USCGC Kimball (WMSL 756) detected three vessels approximately 124 miles north of the Amchitka Pass in the Aleutian Islands, while an HC-130J aircrew from U.S. Coast Guard Air Station Kodiak identified an additional vessel about 84 miles north of the Amukta Pass.
https://gcaptain.com/u-s-coast-guard-encounters-chinese-military-ships-in-bering-sea/
https://gcaptain.com/u-s-coast-guard-encounters-chinese-military-ships-in-bering-sea/
9. U.S. Military to Shut Down Humanitarian Pier Operation in Gaza. The U.S. militaryâs humanitarian pier off the coast of Gaza, which has been hampered by bad weather and aid distribution problems, will shut down soon, President Joe Bidenâs administration said on Thursday.Biden announced in March plans to put the pier in place for aid deliveries as famine loomed in Gaza, an enclave of 2.3 million people.
https://gcaptain.com/u-s-military-to-shut-down-humanitarian-pier-operation-in-gaza/
https://gcaptain.com/u-s-military-to-shut-down-humanitarian-pier-operation-in-gaza/
10. Shipping Corporation of India Ltd leads gainers in ‘A’ group. Sequent Scientific Ltd, Great Eastern Shipping Company Ltd, Gujarat Pipavav Port Ltd and Gateway Distriparks Ltd are among the other gainers in the BSE’s ‘A’ group today, 11 July 2024.Sequent Scientific Ltd, Great Eastern Shipping Company Ltd, Gujarat Pipavav Port Ltd and Gateway Distriparks Ltd are among the other gainers in the BSE’s ‘A’ group today, 11 July 2024
https://www.shippingtribune.com/news/shipping/Shipping+Corporation+of+India+Ltd+leads+gainers+in+%27A%27+group
https://www.shippingtribune.com/news/shipping/Shipping+Corporation+of+India+Ltd+leads+gainers+in+%27A%27+group
