Access cargoes, ship positions, ships and parts for sale, news, events and jobs
A 20-year-old VLCC has changed hands for just over $60m, underlining the continued strength in vintage tanker values. The Japanese-controlled, India-flagged Kasagisan (302,478 dwt, built 2006 at Mitsui) has reportedly been sold for $60.5m; no taker has been identified, but brokers point outside Korea. The deal could signal a market shift, breaking Sinokor Merchant Marine’s recent …
https://splash247.com/20-year-old-vlcc-fetches-60-5m/
https://splash247.com/20-year-old-vlcc-fetches-60-5m/India is moving to establish its own protection and indemnity (P&I) capability by creating the Bharat Maritime Insurance Pool, aimed at reducing reliance on overseas insurers and strengthening maritime self-sufficiency. The new pool will provide liability cover for Indian-flagged vessels, including risks such as pollution, collisions, and crew claims-areas traditionally dominated by the International Group …
https://splash247.com/india-sets-up-bharat-maritime-insurance-pool-to-challenge-global-pi-dominance/
https://splash247.com/india-sets-up-bharat-maritime-insurance-pool-to-challenge-global-pi-dominance/Smaller containerlines are rapidly exiting the transpacific trades as weakening freight rates erode margins, according to Danish consultancy Sea-Intelligence. Fresh analysis shows that capacity offered by non-alliance carriers on the Asia-North America west coast route has dropped to a 10-year low, excluding the early pandemic period. The sharp pullback highlights how quickly independent operators respond …
https://splash247.com/smaller-carriers-retreat-from-transpacific-as-rates-slide/
https://splash247.com/smaller-carriers-retreat-from-transpacific-as-rates-slide/The International Maritime Organization (IMO) has approved new guidelines aimed at improving transparency in ship registration and cracking down on the growing misuse of flags. Adopted by the IMO’s Legal Committee during its 113th session in London, the measures are designed to strengthen due diligence, enhance oversight of registries and ensure the accuracy of vessel …
https://splash247.com/imo-moves-to-tighten-ship-registration-rules-amid-surge-in-flag-fraud/
https://splash247.com/imo-moves-to-tighten-ship-registration-rules-amid-surge-in-flag-fraud/The Strait of Hormuz has lurched through a dizzying sequence of openings, closures, vessel attacks and a US naval boarding in the past three days, leaving commercial shipping operators very concerned about the safety of their fleets in the region. The crisis deepened dramatically this weekend as Iran announced the strait was open, only to …
https://splash247.com/hormuz-crisis-intensifies/
https://splash247.com/hormuz-crisis-intensifies/Concerns grew on Monday that the ceasefire between the United States and Iran might not hold after the U.S. said it had seized an Iranian cargo ship that tried to run its blockade and Iran vowed to retaliate.Efforts to build a more lasting peace in the region likewise appeared to be on shaky ground…
https://www.marinelink.com/news/us-seizes-iranian-cargo-ship-tehran-vows-538215
https://www.marinelink.com/news/us-seizes-iranian-cargo-ship-tehran-vows-538215TUI Cruises said on Sunday that its Mein Schiff 4 and Mein Schiff 5 ships have passed through the Strait of Hormuz.In a statement posted on its website, the company said it had obtained approvals from relevant authorities, under careful consideration…
https://www.marinelink.com/news/two-cruise-ships-pass-strait-hormuz-538216
https://www.marinelink.com/news/two-cruise-ships-pass-strait-hormuz-538216French President Emmanuel Macron will travel to Greece next week to renew a security pact between the two countries against the backdrop of the war in Iran, a Greek government official said on Sunday.France and Greece, long-standing NATO allies, signed a security and defense agreement in 2021, which
https://www.marinelink.com/news/france-greece-renew-defense-pact-538217
https://www.marinelink.com/news/france-greece-renew-defense-pact-538217The U.S. Coast Guard continues to search for a missing cargo vessel that experienced engine failure on Wednesday near Saipan in the Western Pacific, part of the Mariana archipelago. The overturned vessel was sighted by the airplane crew about 34 nautical miles northeast of Pagan…
https://www.marinelink.com/news/us-coast-guard-searches-missing-vessel-538218
https://www.marinelink.com/news/us-coast-guard-searches-missing-vessel-538218The All Aboard Alliance has launched Unspoken, a project to develop a global framework for companies to better identify, prevent, and respond to unwanted sexual behaviour aboard vessels.There is strong evidence that sexual misconduct at sea is both widespread and significantly underreported…
https://www.marinelink.com/news/new-alliance-targets-sexual-misconduct-538219
https://www.marinelink.com/news/new-alliance-targets-sexual-misconduct-538219