Law Regulations News

Australia and India Talk Maritime, Renewables at G20

Australia will partner with India to boost investment in renewable energy, including solar manufacturing, battery and mineral processing, Prime Minister Anthony Albanese said in a meeting with his Indian counterpart on the G20 sidelines.Australia and India will also look to enhance defense and maritime security cooperation, Albanese said in a meeting with India's Prime Minister Narendra Modi in Rio de Janeiro on Tuesday.The two countries, along with the United States and Japan, are members of the Quad, which has sought to balance China's rising military and economic clout in the Indo Pacific r

Trump Picks Duffy to be DOT Chief

U.S. President-elect Donald Trump said on Monday that he is nominating former Wisconsin Representative and Fox Business News host Sean Duffy to be transportation secretary.If confirmed, Duffy will oversee aviation, automotive, rail, transit and other transportation policies at the department with about a $110 billion budget as well as significant funding that remains under the Biden administration's 2021 $1 trillion infrastructure law and EV charging stations."I’m eager to help you usher in a new golden age of transportation," Duffy wrote on social media.Trump has vowed to reverse the Biden administration's vehicle emissions rules. He…

Shipping, Energy Tax Could Help Foot $1T to Combat Climate Change - COP29

The COP29 climate talks in Azerbaijan aim to agree an annual finance target of $1 trillion or more a year to help poorer countries respond to global warming. Some see new taxes as one way to get there. The Global Solidarity Levies Task Force (GSLT), led by France, Barbados and Kenya, is exploring the issue. Below are excerpts from its latest report on the options being discussed -- as it pertains to shipping and fossil fuels -- and estimates about how much could be raised.SHIPPINGThe levy that could be closest to being agreed is for shipping…

OMSA’s Smith: Defending US-Flag Vessels is about Economic, National Security

Anyone who knows Aaron Smith, president and CEO of OMSA, knows that he is passionately focused on the U.S. maritime industry and staunchly defending the U.S. Jones Act fleet and mariners. We caught with Smith on the sidelines of the Workboat Show in New Orleans last week. Highlights of the conversation are below – including an update on the American Offshore Worker Fairness Act – the full interview can be seen on Maritime Reporter TV.Let’s talk a bit about the offshore energy industry today.

EU Ramps Up Iranian Shipping Sanctions

The European Union has widened its sanctions against Iran over Tehran's support of Russia in its war with Ukraine, the European Commission said on Monday.The Commission said it had added the Islamic Republic of Iran Shipping Lines (IRISL) and its director Mohammad Reza Khiabani, among others, to its sanctions list.The fresh sanctions are against vessels and ports used for transporting Iranian-made Unmanned Aerial Vehicles (UAVs), missiles and related technologies and components.

Workboat 2024: A Ton of Energy

There’s plenty to go around for everyone, no matter it comes from.I will admit that attending the 2024 Workboat Show in the Big Easy just ten days after settling into the MarineNews Editor’s chair (for this, the second time around) had my full attention. The event typically evokes the specter of drinking from the proverbial fire hose in routine times, but attending and digesting all it has to offer, right out of the gate, makes the task just little bit edgier. Ultimately, last week’s trade show exuded terrific energy, from exhibitors to attendees alike.

Call for Release of Galaxy Leader Crew on Seizure Anniversary

November 19 marks the one-year anniversary of the seizure of the crew of the car carrier Galaxy Leader by Yemen’s Houthis, with the International Chamber of Shipping renewing calls for their release.Guy Platten, Secretary General of the International Chamber of Shipping, said: “It seems incredible that a year has passed, and the crew of the Galaxy Leader are still being held hostage. Innocent seafarers and families who have had their lives irrevocably changed by geopolitical forces wholly out of their control.“The seafarers…

Japanese Troops to Train in Australia

Japanese troops will begin regular deployments in northern Australia as part of military cooperation with Australia and the U.S., Australia's Defence Minister Richard Marles said on Sunday.Around 2,000 U.S. Marines are already hosted in Darwin, the capital of the Northern Territory, for six months of the year amid growing concern among Washington and its allies about China's growing military power in the Indo Pacific region."Today we are announcing that there will be regular deployments of Japan's amphibious Rapid Deployment Brigade to Australia…

Nigeria and India Forge Deeper Maritime Security Ties

Nigeria and India on Sunday agreed to deepen collaboration in maritime security, intelligence and counter-terrorism during a state visit to the West African country by Indian Prime Minister Narendra Modi.Modi is the first Indian premier to visit Nigeria in 17 years after an invitation by President Bola Tinubu, who is seeking investments from some of the world's biggest economies.Modi arrived in the capital Abuja on Saturday night and met Tinubu at the presidential villa on Sunday where the two leaders also discussed economic development, defence, healthcare and food security, a joint statement

Ship Has Close Call with Missile in Red Sea

A ship passing through the Red Sea 25 nautical miles west of Al-Mukha, Yemen, reported on Sunday that a missile had splashed into the sea nearby, the United Kingdom Maritime Trade Operations (UKMTO) agency said.It did not name the vessel or the owner but cited the relevant company security officer as saying the vessel and crew were safe and proceeding to the next port of call.Yemen's Iran-aligned Houthi militants have been attacking commercial shipping in the Red Sea for more than a year in a bid to enforce a naval blockade on Israel, saying they are acting in solidarity with Palestinians in I

Fincantieri Lifts Full-Year Revenue Outlook to Above $8.43B

Italian shipbuilder Fincantieri on Thursday raised its full-year forecast on revenue to "above" 8 billion euros ($8.43 billion), from "about" previously indicated, boosted by all business segments.The Trieste-based vessel maker reported a nine-month core profit (EBITDA) a 19% rise to 328 million euros, while its January to September revenue stood at 5.58 billion euros, up 3.7% yearly.Fincantieri's nine-month order intake totalled 8.5 billion euros, more than double the orders acquired in the same period last year.($1 = 0.9489 euros)(Reuters - Reporting by Romolo Tosiani; Editing by David Evans

Cargotec to sell MacGregor to Triton for Over $500M

Finnish engineering firm Cargotec said on Thursday it would sell its cargo handler business MacGregor to European private equity firm Triton in a deal valued at 480 million euros ($506 million), including debt.The deal would be pursued to help its on-road load handling business, Hiab, operate as a standalone business, Cargotec said, adding that its CEO Casimir Lindholm would step down and be replaced by Hiab President Scott Phillips as a part of the arrangement.Hiab would subsequently be the only business remaining under Cargotec as a result of the deal…

Japan and South Korea Join US Naval Drill

U.S., Japanese and South Korean naval forces exercised together in East Asian waters on Thursday in their most complex and final joint drills before President Joe Biden hands over one of his signature national security initiatives to Donald Trump.Led by the USS George Washington carrier and its jet fighters, the Freedom Edge naval exercise in waters south of the Korean peninsula and west of Japan's main islands comes after a pact brokered by Biden in 2023 in which Seoul and Tokyo…

Denmark Still Deciding on Paul Watson’s Fate

Anti-whaling activist Paul Watson will remain in detention in Greenland while Denmark decides whether to extradite him to Japan, police in the autonomous Danish territory said on Wednesday.The 73-year-old U.S.-Canadian, founder of the Sea Shepherd conservationist group and the Captain Paul Watson Foundation, was taken into custody by police when his ship docked at the port of Nuuk on July 21.Watson will remain in detention until Dec. 4, police said in a statement."It is unfortunately as expected…

China, Philippines Spar Over South China Sea Laws

The Philippines' foreign ministry said on Wednesday it summoned China's ambassador to protest Beijing's drawing of baselines around the disputed Scarborough Shoal in the South China Sea."The said baselines infringe upon Philippine sovereignty and contravene international law," the ministry said in a statement.The move follows China's definition on Sunday of the baseline for "territorial waters" around the shoal, which Beijing claims as Huangyan Island. The shoal is a key point of contention over sovereignty and fishing rights.In response…

Managing Cyber Risk Pivotal for Safe Maritime Digitalization Push, DNV Finds

A new report published by DNV has revealed that the majority (61%) of maritime professionals believe the industry should accept increased cyber risk from digitalization if it enables innovation and new technologies.The sector’s appetite to take on emerging risks arising from digital transformation is notably higher than other critical infrastructure industries including energy, manufacturing and healthcare, according to DNV.The industry’s increasing appetite for cyber risk comes at a time when it must manage a growing volume of vulnerabilities.Namely…

US Warships Repel Houthi Missile Attack

U.S. warships shot down drones and missiles fired by Yemen's Houthis while they were transiting the Bab al-Mandab Strait, the Pentagon said on Tuesday.Earlier on Tuesday, the Houthis said they conducted two military operations against U.S. naval vessels in the Red and Arabian seas which the group's military spokesperson said lasted for eight hours.Pentagon spokesperson Air Force Major General Patrick Ryder said that on Monday two U.S. warships were attacked by at least eight drones, five anti-ship ballistic missiles and three anti-ship cruise missiles.

Plains All American Pipeline Agrees to Settle California Oil Spill Lawsuit

Plains All American Pipeline has agreed to pay $72.5 million to settle a lawsuit over the 2015 Refugio Beach oil spill in Santa Barbara, a filing showed on Tuesday.The spill occurred after a pipeline, which ran across California's coastline, ruptured and spilled an estimated 126,000 gallons of oil into the ocean and on the beaches.In 2020, the California State Lands Commission and insurance firm Aspen American Insurance had sued Plains All American - the operator of the failed pipeline - alleging negligence…

China Ups Pressure on Philippines to Cede Claims in South China Sea

China is stepping up pressure on the Philippines to concede its sovereign rights in the South China Sea, Manila's Defense Secretary Gilberto Teodoro said on Tuesday after meeting his Australian counterpart in Canberra.The fifth such meeting since August 2023 reflects growing security ties between the countries, which have both voiced concern about Chinese activity in areas of the busy waterway claimed by the Philippines and other Southeast Asian nations."What we see is an increasing demand by Beijing for us to concede our sovereign rights in the area…

BNS Boosts Its Marine Electrical Solutions Portfolio with New Acquisition

BNS has acquired Carolina Power Systems (CPS), a provider of marine electrical equipment to the military shipbuilding industry, which will bolster its marine power capabilities.With the acquisition of CPS, combined with that of Cadick Corporation, BNS now offers full lifecycle solutions, services and maintenance support for military and commercial across the marine electrical system spectrum.CPS provides switchboards, motor controllers and other control and monitoring equipment for installation on U.S. Navy and Coast Guard ships.

Russian Frigate Conducts Drills in English Channel

A Russian Navy frigate equipped with new generation hypersonic cruise missiles has conducted drills in the English Channel and is carrying out tasks in the Atlantic Ocean, Russian news agencies reported on Tuesday.The crew of the frigate, equipped with Zircon (Tsirkon) hypersonic anti-ship missiles, conducted counter-terrorism drills, repelling air and sea drone attacks of a mock enemy, Russian state agencies reported."The Northern Fleet frigate Admiral Golovko has completed its…

Russian, Indonesian Navies Hold Joint Drills

Russian and Indonesian ships practiced freeing a vessel captured by terrorists and fought unmanned boats during the first joint naval exercises between the two countries in the Java Sea, Russia's RIA state news agency reported on Monday.The joint exercise, which started last week, came as newly inaugurated Indonesian President Prabowo Subianto pledged closer ties with Russia on defence, in a bid to forge links with any country as part of Jakarta's long-held non-aligned foreign policy.The crews of the joint detachment of ships practiced manoeuvring and communication…

Montreal Port Employers Threaten Shutdown

Port of Montreal terminal operators have threatened to shut down most operations as of Sunday after providing a "final, comprehensive offer" to the longshore union.If the Canadian Union of Public Employees Local 375 does not accept the offer by Sunday at 8:00 p.m. "only essential services and activities unrelated to longshoring will continue at the Port of Montréal from 9 p.m. on Sunday," the Maritime Employers Association said in a statement on Thursday.So far, two terminals operated by Termont…

Taiwan Offers Reward for Reports of Chinese Activity

Taiwan's coast guard said on Friday it would offer rewards worth thousands of dollars for spotting Chinese activity at sea, including warships or submarines, saying it was harnessing "people power" to boost its own limited workforce.Taiwan, which China claims as its own territory, has complained for the past five years of stepped up Chinese military activity, and the Taiwanese coast guard has increasingly been involved in patrolling sea areas.China's coast guard's involvement in these activities has grown, which Taiwan officials say is part of a "grey zone" strategy that stops short of war and

Venture Global gets FERC Nod for LA LNG Plant

Federal regulators on Wednesday gave Venture Global LNG permission to introduce natural gas into its Plaquemines export plant in Louisiana, documents show, moving the plant a step closer to producing the superchilled gas.The 20 million metric tons per annum (MTPA) Plaquemines LNG plant will be the second-largest U.S. export facility when fully operational. It and other projects due to start next year will help the United States retain its position as the world's largest exporter of the gas.Its commercial startup will make Venture Global the second-largest U.S.

Three Industrial Projects for Le Havre Announced

The French government has selected winning proposals for a hydrogen import terminal, a renewable fuels facility and a lithium production factory to be built at the state-run port of Le Havre as part of an effort to attract industrial investment, the finance ministry said on Thursday.The land around the port was labelled a turnkey investment site under the 30 billion euro "France 2030" plan, allowing Haropa Port — the public entity that manages the ports of Rouen, Le Havre and Paris — to launch a tender for green projects.The three winners will benefit from accelerated approval procedures…

Alcoa Suspends Bauxite Liftings Juruti

U.S. aluminium maker Alcoa AA.N said on Thursday it had halted bauxite shipments from Brazil's Juruti port due to a stranded vessel in the waterway.This was the latest in a series of disruptions to hit the aluminium raw material supply chain, which have pushed alumina prices to record highs and supported aluminium prices.Alcoa declared force majeure at its bauxite mine in the Juruti region on Wednesday as an inaccessible waterway hindered its ability to supply its customers, an…

US Extends Protections for CITGO to March 2025

The U.S. Treasury Department on Thursday extended a license protecting Venezuela-owned Citgo Petroleum from bondholders to March 2025, a key decision amid a seven-year-long legal case in which the refiner's parent might be auctioned to pay creditors.Citgo's parent, PDV Holding, was found liable by the court for Venezuela's debts from asset expropriations and debt defaults. The case has opened a route for creditors to fight for a piece of Venezuela's crown jewel - Citgo's 807,000…

Philippines Confident in US Support under Trump

The Philippines expects U.S. policy in the Indo-Pacific and support for its treaty ally amid South China Sea tensions to remain steady under Donald Trump, driven by bipartisan resolve in Washington, its ambassador to the U.S. said on Thursday.Both Democrats and Republicans prioritize countering China’s influence, including in the South China Sea, Jose Manuel Romualdez said, suggesting that military cooperation, economic ties and security commitments with the Philippines will continue."It is in their interest that the Indo-Pacific region remains free…

CMB.TECH Profits Rise, VLCC Outlook Good

Belgian oil tanker company CMB.TECH posted third-quarter profit above market expectations on Thursday, powered by a long-term strategy of decarbonization and diversification of its fleet."From a supply-side perspective, the outlook for the tanker fleet remains generally favorable for Very Large Crude Carriers (VLCCs)," the group said in a statement.It cautioned about the Suezmax segment, where the order book has grown significantly, with an orderbook-to-fleet (OB/F) ratio of 16.3%, more than double that of VLCCs.The group, formed after last year's Euronav-Compagnie Maritime Belge takeover, ack

Port of Los Angeles sees Record September, Best Quarter Ever

The Port of Los Angeles handled a record 954,706 Twenty-Foot Equivalent Units (TEUs) in September, a 27% increase over the previous year. It marked the close of the busiest quarter ever at the Port, which processed 2,854,904 TEUs in the last three months. Nine months into 2024, the Port of Los Angeles is 18% ahead of its 2023 pace. “Just as impressive as these new records is the fact that we managed all this cargo with skill and efficiency,” said Port of Los Angeles Executive Director Gene Seroka.

Panama to Cancel Flags on US-sanctioned LNG ships

Panama's Maritime Authority said on Wednesday it has begun a process to cancel flags on four LNG vessels sanctioned by the United States over their links with Russian gas producer Novatek.The vessels North Air, North Mountain, North Way and North Sky, which have been operating under Panama's flag, had previously been identified as part of Russia's dark tanker fleet, according to media reports quoted by the authority.

Analysts: Trump Hardening Iran Policy Might Not Stem Flow to China

Former President Donald Trump's return to the White House could mean tougher enforcement of U.S. oil sanctions against Iran, potentially trimming global supplies, but his administration could struggle to get China, Iran's top crude customer, to cooperate, analysts said.Cracking down on OPEC-member Iran would support global oil prices, but the effect could also be offset by other Trump policies, from measures to expand domestic drilling, the imposition of tariffs on China that could depress economic activity…

Greek Shipowner Acquires Altera’s Shuttle Tanker Business

Altera Infrastructure has entered into an agreement to sell all its membership interests in Altera Shuttle Tankers (AST) to Maistros Shiptrade, a company affiliated with the Angelicoussis Group.Altera Shuttle Tankers, a shuttle tanker provider, owns and operates 18 shuttle tankers in Brazil, Canada and the North Sea.The Angelicoussis Group is one of the world’s largest privately owned shipping groups, currently with 144 vessels on the water and 23 vessels, including three shuttle tankers…

Canada west coast ports shutdown enters second day

The British Columbia ports labor dispute continued on Tuesday, impacting exports at Canada's biggest port in Vancouver with no sign of negotiating progress.International Longshore and Warehouse Union Local 514 foremen began limited strike actions on Monday at 8:00 a.m. Pacific time (16:00 GMT) and their employer, the B.C. Maritime Employers Association, locked out workers at 4:30 p.m.Industries and provincial governments across Canada are alarmed by the dispute, which is occurring at the same time as a partial strike is blocking 40 percent of container traffic of the Port of Montreal…

The (Greener) Waterfront: A Fresh Perspective

MarineNews Editor Joseph Keefe weighs in with a look at the previous five years on the waterfront. It’s not what you think.You might be aware that I stepped away for a moment in late December 2019. The five years that followed, whizzed right by – well, all but that miserable part of being virtually locked in my house for six months during “the Pandemic.” Enough said. Now back in the Editor’s chair here at MarineNews magazine, it is apparent that while some things on the collective waterfront have changed…

US Arrests Turk for Alleged Sanctions Violations

U.S. authorities have arrested a Turkish man who they allege was trying to violate sanctions by transporting oil from Venezuela, the Justice Department said on Monday.The U.S. reimposed sanctions on the Venezuelan oil company PDVSA in June after what it said was the failure of President Nicolas Maduro to return to talks with the political opposition and commit to fair elections.In a statement, the Justice Department said 37-year-old Taskin Torlak had "allegedly conspired to illegally sell Venezuelan oil…

US DOT Publishes Final Testing Rule, Amends Oral Fluid Drug Testing

Final Rule is Effective Today, 5 November.Today, November 5, 2024, the Department of Transportation (DOT) published a final rule in the Federal Register to provide temporary qualification requirements for mock oral fluid monitors, provide for consistent requirements by identifying which individuals may be present during an oral fluid collection, and clarify how collectors are to document that a sufficient volume of oral fluid was collected.  To learn more about this final rule, view the rule at https://www.transportation.gov/odapc/frpubs.

Orsted Addresses Swedish Baltic Sea Wind Concerns

Orsted CEO assures Sweden that the offshore wind industry has solutions that would address defense concerns. At issue: Sweden's rejection of a proposed 13 offshore wind farms in the Baltic Sea.Swedish Defense Minister Pal Jonson said on Monday that building wind farms in the Baltic Sea would pose defense risks, by making it harder to detect and shoot down missiles. As Europe turns to renewable sources to diversify energy supplies away from Russian oil and gas, concerns have also…

Green Marine UK Scales Up Environmental Monitoring Services for Offshore Wind

Orkney-based marine services firm Green Marine UK has expanded its environmental monitoring offering for offshore wind to deliver ‘full-scope’ projects following a surge in contracts with Scotland's Marine Directorate.This follows 18-months of continuous work, largely involving the collection of PAM (Passive Acoustic Monitoring) devices. Operations have lasted up to 20-days retrieving circa 40 devices over distances approaching 250 nautical miles.PAM incorporates underwater microphones (hydrophones) to effectively monitor and record migratory fish, marine animals and the environment.

Windward Launches AI Threat Investigation System

Maritime AI company Windward has launched a new system: Advanced Intelligence, an AI-powered solution designed to empower intelligence and security organizations to uncover and handle threats more efficiently.The solution streamlines the entire investigation process from early anomaly detection and strategic investigations to vital context provided by MAI Expert™, Windward’s generative AI-powered virtual analyst. By controlling all aspects of the investigative process within one platform…

Vancouver Port Employers to Lock out Workers

The BC Maritime Employers Association said it would lock out workers on Monday at Canada's Port of Vancouver after a negotiating deadline passed, potentially disrupting exports of coal, potash and beef.The association, which includes private-sector waterfront employers, said it would lock out foremen and other members of International Longshore and Warehouse Union Local 514 at the country's largest port starting at 4:30 Pacific time (0030 GMT). A 13-day strike last year disrupted…

Houthis: Blockade on Israeli Vessels to Continue

Yemen's Houthis said on Sunday they would maintain their maritime blockade against Israeli vessels in response to "intelligence information" regarding Israeli shipping companies selling their assets to other companies.The Iran-aligned Houthis claim to be intensifying their attacks to support Hamas and Hezbollah in their resistance against Israeli actions in the region. "Intelligence information confirms that many companies operating in maritime shipping affiliated to the Israeli…

Israel Can't Hide from Houthi Attacks by Selling Ships

Yemen's Houthis said on Sunday they would maintain their maritime blockade against Israeli vessels in response to "intelligence information" regarding Israeli shipping companies selling their assets to other companies.The Iran-aligned Houthis have said they are intensifying their attacks to support Hamas and Hezbollah in their resistance against Israeli actions in the region."Intelligence information confirms that many companies operating in maritime shipping affiliated to the Israeli enemy are working to sell their assets and transfer their properties from shipping and maritime transport ship

Longshore Troubles Impact Canada Ports

Unionized workers started an unlimited strike at two terminals of the port of Montreal on Thursday amid stalled talks on a new labor contract, the employers' association said. The strike affects two terminals operated by Termont, which handle about 40% of the port's container traffic and roughly 15% of the port's overall cargo volume. Separately, Port of Vancouver foremen will be locked out on Monday unless they scrap a proposed strike, employers at Canada's biggest port said on Friday…

DOF Group Completes Acquisition of Maersk Supply Service

Norwegian offshore supply vessel company DOF Group has concluded the acquisition of Denmark-based Maersk Supply Service, which will be renamed to DOF Denmark.The combined company is expected to become one of the leading offshore service provider with comprehensive scale and a wide range of services across all continents in the offshore energy industries.The deal will see DOF's fleet grow to 78 modern offshore/subsea vessels, including 65 owned, with the addition of Maersk Supply Service's 22 vessels…

Finland Coast Guard Detects SatNav Jamming, Spoofing in the Baltic Sea

Finland's Coast Guard said it has detected constant disturbances to satellite navigation signals in the Baltic Sea since April and in recent weeks has seen tankers spoofing their location data to cover up visits to Russia.Last week, Finland's interior minister Lulu Ranne said Finland believes Russia is behind disturbances detected in Finland and the Baltic Sea region in the Global Navigation Satellite System (GNSS) and Global Positioning System (GPS) signals used in navigation.The Coast Guard said the GNSS jamming…

German Lawyers Want Explosives Shipment to Israeli Contractor Blocked

Human rights lawyers have filed a court appeal in Berlin seeking to block a 150-metric-ton shipment of military-grade explosives aboard German cargo ship MV Kathrin which they say is to be delivered to Israel's biggest defence contractor.The European Legal Support Center (ELSC) said on Wednesday the action was filed on behalf of three Palestinians from Gaza, arguing that the shipment of primarily RDX explosives could be used in munitions for Israel's war in Gaza, potentially contributing…

Mexican Ship Manager Caught Hiding Oily Water Discharges

Gremex Shipping S.A. de C.V., a Mexican ship management company has pleaded guilty to providing false records to the U.S. Coast Guard to conceal its illegal discharge of oily bilge waste, a felony violation of the Act to Prevent Pollution from Ships (APPS).The charge stems from a Coast Guard investigation of the cement carrier Suhar once it arrived in Pensacola, Florida, on August 25, 2023. The 7,602 gross ton Panamanian-flagged bulk carrier routinely hauled cement from Tampico…

US Shippers Avoid East Coast Ports on Risk of Second Strike

U.S. shippers are steering clear of East and Gulf Coast ports amid worries the 45,000 dockworkers at those trade hubs will go on strike again if their union leader does not land a new contract with employers by a Jan. 15 deadline.The International Longshoremen's Association (ILA) labor union and the United States Maritime Alliance (USMX) employer group had ended a three-day strike in October with a tentative agreement on wages, but left the thorny issue of port automation still to be resolved."Anything we expect that we need in the back half of January…

AI Assistant Scans Data Streams and Social Media to Identify Maritime Risks

Maritime AI company Windward has launched Early Detection, an AI-based solution that identifies anomalies that could impact maritime operations.Early Detection analyzes vast amounts of maritime data to spot irregular activities, thus enabling organizations to passively uncover anomalies or new trends automatically with no required user input. The capability alerts stakeholders to global events that would otherwise remain hidden, such as an increase in vessels loitering in specific locations or a surge in ships changing their flags even before the cause is apparent.

Royal Caribbean Boosts Annual Profit Forecast

Royal Caribbean lifted its annual profit forecast on Tuesday for the fourth time this year, driven by strong demand at higher prices for its voyages to private destinations, as well as its European and Alaskan vacations.Cruise operators have signaled that revenge travel - which boosted bookings following the pandemic lockdowns - has now been replaced by a growing shift among travelers to seek sea-based vacations.The company's shares rose about 1.3% in choppy morning trade, set to add to the 57% gain this year through Monday close.Royal Caribbean said demand for 2025 was strong…

Underwater Radiated Noise and Ocean Health

The maritime industry's push toward decarbonization brings an unexpected benefit: the reduction of underwater radiated noise (URN). While the sector focuses intensively on emissions reduction and fuel efficiency, these same measures are quietly contributing to a healthier acoustic environment in our oceans. For ship owners and operators already investing in green technologies, addressing URN can be a natural extension of existing environmental initiatives, offering a dual benefit…

Houthis Target Three Ships in Red Sea and Arabian Sea

Yemen's Houthis said on Monday that they targeted three ships in the Red Sea and Arabian Sea, attacks they called part of their efforts to enforce a naval blockade on Israel.Houthi military spokesperson Yahya Sarea said in a televised address the vessels were targeted for attempting to approach ports bound for Israel.According to the latest data from LSEG, all three targeted vessels were Liberia-registered.One of the vessels, identified by the Houthis as bulk carrier Motaro, was last seen off Yemen's western coast in the Red Sea…

Comms Failure Costs Shipbroker $380,000

An arbitration dispute highlighted in the latest Claims Review by International Transport Intermediaries Club (ITIC) has concluded with a shipbroker settling a $380,000 claim. Accused of breach of contract and negligence for not disclosing critical navigation restrictions to charterers, the case underscores the paramount importance of transparent communication and due diligence in the shipbroking industry.The incident began when a shipbroker arranged a charter party (CP) agreement between shipowners and charterers.

China Seizes Underwater “Lighthouses”

China's Ministry of State Security said on Tuesday that it had retrieved spying devices both on the ocean surface and in the depths of the sea, including underwater "lighthouses" that could guide the transit of foreign submarines.The ministry said it had uncovered devices that had been hidden on the ocean floor and were sending back information that could "pre-set the field for battle," in an article on its official WeChat account, China's most popular social media app.Recent…

Merchant Vessel Reports Explosions off Yemen

A merchant vessel reported two explosions near a ship travelling 14 nautical miles southwest of Yemen's Al Dhubab, British maritime security firm Ambrey said on Monday.The report followed statements by the U.K.

US East Coast, Gulf Coast Port Workers Union to Resume Contract Talks in November

The union representing 45,000 East Coast and Gulf Coast dockworkers and a group representing employers will resume negotiations next month toward reaching a new six-year contract ahead of a Jan. 15 deadline, they said on Friday.The International Longshoremen's Association union agreed to end a three-day strike on Oct. 3 after it won agreement for a 62% wage hike over six years with the United States Maritime Alliance employer group after significant involvement by the White House…

US Judge Approves Shipping Companies' Settlement with DOJ Over Baltimore Bridge Collapse

A U.S. judge approved on Friday a $102 million settlement by the companies that owned and operated the ship that struck Baltimore's Francis Scott Key Bridge in March, killing six people.The payment, approved by U.S. District Judge James Bredar, resolves the U.S. government's claims after the Justice Department filed a civil claim in September seeking $103 million from two Singaporean companies, Grace Ocean Private Limited and Synergy Marine Private Limited.A spokesperson for the companies said on Friday they had agreed to pay even though they deny liability.

Dali Owner to Pay US $102 Million Over Baltimore Bridge Collapse

The owner and operator of the cargo ship that struck Baltimore's Francis Scott Key Bridge in March, killing six people, have agreed to pay $102 million to the federal government, the U.S. Justice Department said on Thursday.The department in September filed a civil claim seeking $103 million from two Singaporean companies, Grace Ocean Private Limited and Synergy Marine Private Limited. The claim was intended to recoup the money the U.S. government spent responding to the disaster…

Luerssen, Rheinmetall Among Potential Suitors for Thyssenkrupp Marine Unit

German shipbuilder Luerssen and defence group Rheinmetall RHMG.DE could emerge as potential suitors for the warship division of conglomerate Thyssenkrupp TKAG.DE, two people familiar with the matter said.It comes a day after news that private equity firm CarlyleCG.O had dropped out of the process for Thyssenkrupp Marine Systems (TKMS), in what was a blow to Thyssenkrupp's ongoing restructuring and had weighed on shares.Rheinmetall and Luerssen declined comment.Thyssenkrupp referred to comments made on Tuesday, when it said it would intensify efforts to find a standalone solution for TKMS, incl

Greenland Court Extends Detention for Anti-whaling Activist Watson

Anti-whaling activist Paul Watson will remain in detention in Greenland where he has been held since July while Denmark decides whether to extradite him to Japan, local police said on Wednesday.U.S.-Canadian Watson, 73, founder of the Sea Shepherd conservationist group and of the Captain Paul Watson Foundation, was apprehended by police in the Danish autonomous region when his ship docked at the port of Nuuk on July 21."We continue to fight for the case to be concluded," his lawyer Jonas Christoffersen told Reuters…

Offer to Appoint Mediator in Montreal Port Dispute Rejected

Canadian Labor Minister Steven MacKinnon said on Tuesday his proposal to appoint a mediator to help settle a dispute at the port of Montreal had been rejected.MacKinnon made the offer last week in a bid to resolve a standoff between the Maritime Employers Association and Montreal Longshoremen's union over a new contract.

Germany Opens Baltic Sea Naval HQ Amid Rising Tensions with Russia

Germany inaugurated on Monday a new multinational naval headquarters for the Baltic Sea capable of leading operations for NATO during a conflict, as the military alliance increases focus on the area amid rising tensions with Russia."Our message to our partners and to those who threaten our peace is simple: Germany stands firmly by its commitments," Defence Minister Boris Pistorius said according to a draft of his speech at a ceremony at the country's naval command in the coastal city of Rostock…

Carlyle Quits Bidding Process for Thyssenkrupp Marine Arm

Private equity firm Carlyle has dropped out of a bidding process for the warship division of stricken conglomerate Thyssenkrupp, the German company said on Tuesday.Carlyle's withdrawal as a suitor for Thyssenkrupp Marine Systems (TKMS) is a major blow to Thyssenkrupp's restructuring, which also includes plans for a 50:50 steel joint venture with Czech billionaire Daniel Kretinsky."We can confirm that the investment company Carlyle Group has informed us that it is withdrawing from the bidding process for the investment in Thyssenkrupp's marine division," Thyssenkrupp said in a response to email

Maersk Raises Profit Outlook

Danish shipping group A.P. Moller-Maersk said on Monday it had raised its full-year forecasts on the back of strong third quarter results, robust demand and the continuing disruption to shipping in the Red Sea.Maersk said it had revised its outlook for global container market volume growth in 2024 to around 6% from a range of between 4% to 6% seen previously.Maersk reported preliminary underlying earnings before interest, tax, depreciation and amortization (EBITDA) of $4.8 billion for the third quarter.

Did You Know? Email Remains First 'Go-To' for Cyber Attack

During the first half of the year, Marlink’s Security Operations Center actively monitored more than 1800 vessels across the maritime industry, including cargo ships, cruise liners, research vessels, superyachts, tankers, and offshore support vessels.The monitoring process involved continuous surveillance and analysis of various cyber activities across these assets to ensure the security and integrity of critical maritime operations.In its latest "SOC Report", Marlink reports that e-mail remains a primary vector for cyber attacks, particularly through phishing and malware distribution.

Ukraine Attacks Force Black Sea Fleet Relocation

Russia's Black Sea Fleet has been forced to move many warships from the naval base of Sevastopol on the Crimean peninsular, which Russia annexed in 2014, due to attacks by Ukraine, a Russian-installed official was quoted as saying on Sunday.The remarks by Dmitry Rogozin, a Russian-installed senator for the Russian-controlled Zaporizhzhia region and a former head of Russia's space agency, are the first Russian official confirmation that the fleet has had to move from Sevastopol.Ukraine…

Boluda Grows Northern European Presence with New Acquisition

Boluda Towage has acquired Finnish harbor towage and icebreaker company Yxpila Hinaus-Bogsering (YHB), consolidating its presence in Northern Europe.The acquisitions mark another step forward in Boluda’s expansion plans as well as the entry into the Scandinavian countries by providing coverage to its clients in the Gulf of Bothnia.Operating in the ports of Kokkola, Vaasa, Raahe and Kemi, the company will add six vessels to its fleet, five of which are icebreakers.“This purchase is a further step in our consolidation in Northern Europe…

German Warship Shoots Downs Drone Off Lebanon

A German warship operating as part of the United Nations' UNIFIL peacekeeping mission shot down a drone off the coast of Lebanon on Thursday, the German defense ministry told Reuters, as unease builds over the safety of the U.N. troops in the country.UNIFIL positions have come under fire in Lebanon since Israel launched a ground operation against Hezbollah militants on Oct. 1, raising alarm among European governments participating in the mission."The corvette brought an unidentified unmanned aerial vehicle (UAV) into the water in a controlled crash…

Bahri inks Deal to Acquire Nine Tanker Vessels

Bahri, the National Shipping Company of Saudi Arabia signed a Murabaha Financing Agreement with Alinma Bank to secure financing to support its fleet modernization program.Under the terms of the facility agreement, Alinma Bank will extend a credit facility worth $756 million to partially finance the purchase of nine Very large Crude Carriers (VLCCs).

Italy Delivers First Migrants to Albania Under New Deal

A ship carrying the first group of migrants to be processed in Albania under a deal with Italy arrived in the port of Shengjin on Wednesday morning, setting in motion the first scheme by a European Union state to divert asylum seekers abroad.Italy has built two reception centres in Albania under its controversial programme, which aims to deter irregular arrivals to Italy but has been criticised by rights groups who say it restricts migrants' right to asylum.The Libra, an Italian navy ship, docked at Shengjin, Reuters footage showed.

Anti-whaling Activist Watson Requests Political Asylum in France

Anti-whaling activist Paul Watson, detained in Greenland and awaiting possible extradition to Japan, has appealed to President Emmanuel Macron for political asylum in France his Captain Paul Watson Foundation said on Wednesday.US.-Canadian Watson, 73, founder of the Sea Shepherd conservationist group, was stopped by police when his ship docked at the port of Nuuk in Greenland on July 21.He has since been detained in Greenland, a Danish autonomous region, while Denmark decides whether to extradite him to Japan.Japan issued an international warrant for his arrest more than a decade ago…

Watch: Four Tons of Cocaine Seized from Vessels Off the Canary Islands

Nearly four tons of cocaine were seized and 16 people arrested from a a pair of vessels off the coast of the Canary Islands.The major drug bust was a collaborative effort involving both French and Spanish customs under the authority of the Atlantic maritime prefect, in conjunction with the public prosecutor in Brest. The month-long mission involved customs officers on the Beechcraft KA350 aircraft, the patrol vessel Jean-François Deniau, and the Spanish customs patrol vessel Petrel.The first seizure occurred on September 26.

Indian Government to Sell Up to 5% Stake in Cochin Shipyard

The Indian government will offload a stake of about 5% in shipbuilder Cochin Shipyard COCH.NS, an exchange filing showed on Tuesday.The floor price for the sale is 1,540 rupees, an 8% discount to the stock's Tuesday close, the filing showed. At this price, the stake is valued at 20.26 billion rupees ($241.2 million).The base size of the offer will be 2.5%, amounting to about 6.6 million shares, with an option to sell an additional 2.5% stake.The government has raised 31.61 billion rupees through divestments in the ongoing fiscal year…

Philippines Says Fisheries Vessel Sideswiped

The Philippines' Bureau of Fisheries said a "Chinese maritime militia" boat deliberately sideswiped one of its two vessels that were conducting a routine maritime patrol in the vicinity of Thitu island in the South China Sea last Friday.The vessel had sustained dents in its starboard bow, the Bureau of Fisheries and Aquatic Resources (BFAR) said in a statement issued late on Monday.China and the Philippines have been at loggerheads over a succession of confrontations near disputed features in the South China…

US Expands Sanctions to Iran's 'Ghost Fleet' of Oil Tankers

The United States expanded sanctions against Iran's petroleum and petrochemical sectors on Friday in response to an Iranian missile attack on Israel, the administration of President Joe Biden said.The U.S. move adds petroleum and petrochemicals to an executive order that targets key sectors of Iran's economy with the aim of denying the government funds to support its nuclear and missile programs."The new designations today also include measures against the 'Ghost Fleet' that carries Iran’s illicit oil to buyers around the world…

Russian Strikes on Ukraine's Ports Push Insurance Rates Up

A series of Russian missile strikes on Ukrainian Black Sea port infrastructure and commercial vessels has led to a jump in insurance costs and forced some shipowners to cancel bookings, insurance sources and a broker said on Thursday.Russian ballistic missiles attacked the port infrastructure of Ukraine's southern Odesa region on Wednesday, becoming the third such attack in the past four days."Russia is deliberately intensifying its attacks on the port infrastructure of the Ukrainian south.

Liberia-flagged Tanker Struck off Yemen

A Liberia-flagged tanker was struck by an unidentified projectile in the Red Sea causing minor damage, but no casualties, British maritime security agencies said on Thursday.The incident occurred about 73 nautical miles (135 kilometres) southwest of the Yemeni port of Hodeidah, security firm Ambrey said.The United Kingdom Maritime Trade Operations agency (UKMTO) said separately that it had received a report of an incident in the same area, adding authorities are investigating.The chemical/products tanker, en route from Saudi Arabia's Jeddah to Muscat in Oman was struck on its starboard side.

Sharp Increase in Malware Detections on Vessels - Marlink Report

Marlink released the latest global maritime cyber threat report produced by its Security Operations Center (SOC).Based on data gathered from 1,800 actively monitoried vessels during the first half of 2024, the report shows changing tactics of cyber criminals, as well as the fact that malicious activity in the first six months increased significantly compared to the previous year. SOC analysts observed a continued rise in common threats such as Command and Control attacks, along with the evolution of botnet attacks…

Six Die in Russian Attack on Odesa

A Russian ballistic missile attack on Wednesday on the port infrastructure of Ukraine's southern Odesa region killed six people and injured eight, Odesa Regional Governor Oleh Kiper said.The injured were all Ukrainian nationals, Kiper wrote on the Telegram messaging app.

BIMCO Approves First Autonomous Ship Management Agreement

BIMCO’s Documentary Committee has adopted the AUTOSHIPMAN agreement in response to a growing number of remotely controlled ships, primarily for now, in inland waterways and coastal trades.The AUTOSHIPMAN agreement provides a standard contractual foundation for third-party ship managers to deliver services for the operation of remotely controlled or fully autonomous ships.“Currently, remotely controlled ships are operating commercially in several parts of the world. We are seeing growth in this sector with several companies emerging and offering remote control management services to shipowners…

“Cybersecurity is a Hoax” and other Maritime Misconceptions

With new rules on Cyber Security coming down from the U.S. Coast Guard, Angeliki Zisimatou, Director Cybersecurity, ABS, is uniquely positioned to discuss maritime cyber security in the round, with insights on what she’s seen and heard from the draft rules, with advise on what it could mean for vessel owners.Cyber security and all that it entails is quickly climbing the priority ladder in maritime, as increasing dependance on connectivity is a double edge sword of promise and peril.While the level of cyber security preparedness varies widely across all industries…

AI-Powered Vessel Tracking and Monitoring

A partnership between Iceland's TM Insurance and Hefring Marine promises to bring the 'big brother is watching' mantra foward faster in marine operations.Touted as an AI -driven ‘digital assistant’, the primary target for this offering are the helm stations of fast craft, and according to Hefring Marine, IMAS Helm addresses both accident prevention and fuel efficiency, aiming to provide fast craft operators with guidance such as a maximum advised speed, based upon the vessel’s route…

Pangaea Takes Full Control of Nordic Bulk Partners

Pangaea Logistics Solutions Ltd., announced a definitive agreement to purchase the remaining 50% equity ownership of its consolidated subsidiary, Nordic Bulk Partners LLC, from HS Nordic LLC, for $17.2 million in cash.The deal is expected to be completed by November 1, 2024. It will see Pangea own 100% of the equity in Nordic Bulk Partners, a joint venture established in 2019 to construct four Ice Class 1A Post-Panamax dry bulk vessels.The terms of the agreement include ownership put and call provisions, which have been negotiated and exercised a year earlier than originally stipulated.

Seafarer Arrested for Flying Drone in Norwegian Port

A ship’s officer on board a commercial vessel was recently arrested, fined and at risk of being deported from Norway for flying his personal drone over a commercial port in Norway, where the vessel was berthed.The incident was detailed in a report from P&I club Gard, who said the seafarer, a European national, was aboard one its member’s vessels."Norwegian and other national authorities take these matters very seriously in the current geopolitical climate and a number of foreign nationals have already been deported for flying drones in various locations around Norway," Gard said.

VINCI Set to Acquire Two Dutch Maritime Specialists

VINCI Energies has expanded its industrial activities into a new market segment in the Netherlands with the acquisition of RH Marine and Bakker Sliedrecht, a group of two companies specializing in the maritime sector.By joining VINCI Energies’ network of companies, RH Marine and Bakker Sliedrecht are helping to enhance the division’s offering in the industrial services market and strengthen its presence in the Netherlands.Founded in 1860, RH Marine is a system integrator that…

Cyber Threats to Maritime Vessels Grow Exponentially

Cyber threats to maritime are increasing rapidly, and later this year Marlink will unveil a report which classifies the growing problem. From common phishing schemes to targeted attacks on command and control systems, Cedric Warde, Vice President, Global Sales – Digital, Marlink discusses the threats and the means to help avoid them.REGISTER NOW for a free to attend micro conference on new and emerging USCG Cyber Security Rules - November 13, 2024 in New Orleans - with insights on their impact to vessel owner/operators:Cyber risks continue to expand across industries…

US Military Strikes 15 Houthi Targets in Yemen

The U.S. military said it carried out 15 strikes on Friday against targets linked to Iran-aligned Houthi fighters in Yemen, where residents reported blasts at military outposts and even an airport.Central Command, which oversees U.S. forces in the Middle East, said the targets were tied to Houthi offensive military capabilities, but did not detail whether that included missile, drone or radar capabilities.In a post on X, Central Command said the strikes took place at about 1400…

Shipping Stocks Battered After US Port Strike Ends

Shares in shipping companies fell heavily in Europe and Asia on Friday after workers and U.S. port operators agreed a deal to end a strike on the East and Gulf coast docks far sooner than expected.In early trading in Europe, shipping group A.P.

MOL to Consolidate Business Units to Form Maritime Technical Hub

Mitsui O.S.K. Lines (MOL) has announced plans to merge its three subsidiaries focused on maritime technology and engineering to form a professional technical hub focused on maritime industry and decarbonization.In an absorption merger move, MOL will unite MOL Marine & Engineering (MOLMEC), MOL Ocean Expert, and MOL Ship Tech, effective April 1, 2025, with MOLMEC as the surviving company.The new company, as a professional technical group, will offer services ranging from maritime and new shipbuilding consulting…

Ships Queue at US Ports as Dockworker Strike Enters Third Day

Long lines of container ships lined up outside major U.S. ports on Thursday as the biggest dockworker strike in nearly half a century entered its third day, preventing unloading and threatening shortages of everything from bananas to auto parts.No negotiations were scheduled between the International Longshoremen's Association and employers, but the port owners, under pressure from the White House to hike their pay offer to land a deal, signaled late on Wednesday they were open to new talks."The longer this goes on…

Prepare for Attack: Houthis Issue Email Alert to Shipping Fleets

On a warm spring night in Athens, shortly before midnight, a senior executive at a Greek shipping company noticed an unusual email had landed in his personal inbox.The message, which was also sent to the manager's business email address, warned that one of the company's vessels travelling through the Red Sea was at risk of being attacked by Yemen's Iranian-backed Houthi militia.The Greek-managed ship had violated a Houthi-imposed transit ban by docking at an Israeli port and would be "directly targeted by the Yemeni Armed Forces in any area they deem appropriate…

MSC Cruises in Hot Water Over Greenwashing

Sustainability claims by MSC Cruises, including that it targets "net zero by 2050" do not meet standards, the Dutch advertising board found on Wednesday in one of the first decisions against a cruise operator following a greenwashing complaint.MSC, a privately held Swiss-Italian firm that is among the world's largest cruise operators, said in a reaction it welcomed some parts of the decision and had "already implemented most of the changes advised".Greenwashing entails a company giving a misleading impression of its environmental credentials.

US Dockworker Strike: Talks at a Standstill

A strike by 45,000 dockworkers halting shipments at U.S. East Coast and Gulf Coast ports entered its second day on Wednesday with no negotiations currently scheduled between the two sides, sources told Reuters.The lack of progress is raising concerns among those reliant on shipments that the disruption could be prolonged.The International Longshoremen's Association union strike has blocked goods from food to automobile shipments across dozens of ports from Maine to Texas, which…

How a Minor Change in US Trade Law Turbocharged the Fentanyl Crisis

In January 2023, U.S. federal agents raided the home of a Tucson maintenance worker who had a side hustle hauling packages across the border to Mexico.They estimate that over the previous two years, the gray-bearded courier had ferried about 7,000 kilos of fentanyl-making chemicals to an operative of the Sinaloa Cartel. That’s 15,432 pounds, sufficient to produce 5.3 billion pills – enough to kill every living soul in the United States several times over. The chemicals had traveled by air from China to Los Angeles…

One of the World's Largest Offshore Wind Developers Could Be for Sale

Australia's Macquarie has engaged advisors for a potential sale of its subsidiary Corio Generation, one of the world's largest offshore-wind developers, two sources with knowledge of the matter said on Tuesday.Corio oversees a 30-gigawatt pipeline of offshore wind projects spanning Europe, Asia-Pacific, and the Americas. It includes 5 GW of projects across the UK such as West of Orkney in Scotland and Outer Dowsing off the east coast of England.Macquarie plans to gauge interest from a handful of strategic and financial investors later this year for a full or minority stake sale…

Tanker Captain Gets Prison Sentence Over Environmental Crimes

The operators of a Panama-registered tanker have been fined $2 million and the ship's captain sentenced to eight months in prison over charges stemming from environmental violations in the United States, the Department of Justice announced. Dubai-based Prive Overseas Marine LLC and Turkey-based Prive Shipping Denizcilik Ticaret, the two corporations that operated the motor tanker P/S Dream, were sentenced in federal court in New Orleans to pay a $2 million criminal penalty and complete four years of probation.

East Coast Dockworkers Strike Halts Half of US Ocean Shipping

Dockworkers on the U.S. East Coast and Gulf Coast began a strike early on Tuesday, their first large-scale stoppage in nearly 50 years, halting the flow of about half the nation's ocean shipping after negotiations for a new labor contract broke down over wages.The strike blocks everything from food to automobile shipments across dozens of ports from Maine to Texas, in a disruption analysts warned will cost the economy billions of dollars a day, threaten jobs, and potentially stoke inflation.The International Longshoremen's Association (ILA) union representing 45…

Dark Tanker Fleet Activity Morphs

A new analysis from Windward reports a 20% decrease in the volume of direct oil voyages out of Russia in Q3 2024 compared to Q2.Q3 2024 marked the lowest monthly average of direct voyages from Russia to China since March 2023. When compared to Q2 2024 averages, there is a decrease of 12% in such voyages.This is the first total volume decrease since the beginning of the war between Russia and Ukraine and is likely related to the slight decrease in port calls in Russia this quarter.However…

Delmar Systems Acquires IKM Mooring Services

Delmar Systems AS announced it has acquired IKM Mooring Services, expanding its footprint in Norway.As part of the acquisition, Delmar Systems will integrate IKM Mooring Services' operations into its existing framework."We are excited to welcome the IKM Mooring Services team and their valued clients into the Delmar Systems family," said Jørund Havnerås, Managing Director – Delmar Systems AS. "This acquisition represents a pivotal moment for our company as we broaden our service capabilities and enhance our offerings in Norway.

Carnival Lifts Profit Outlook on Strong Cruise Demand

Carnival Corp raised its annual profit forecast for the third time on Monday and beat market expectations for third-quarter results, helped by strength in demand for cruise vacations as well as easing costs of operations.Cruise operators benefit from increased demand for vacations at sea during the summer, boosting an already robust year for the companies as more travelers opt for the cruise experience."Strong demand enabled us to increase our full-year yield guidance for the third time this year…

Israel Bombs Yemen’s Hodeidah Port

Israel said it bombed Houthi targets in Yemen on Sunday, expanding its confrontation with Iran's allies in the region two days after killing the Hezbollah leader Sayyed Hassan Nasrallah in an escalating conflict in Lebanon.The airstrikes on Yemen's port of Hodeidah were in response to Houthi missile attacks on Israel in recent days, Israel said, amid fears that Middle East fighting could spin out of control and draw in Iran and Israel's main ally the United States.The Houthi-run…