End of Tumultuous Year for Ship Recyclers
As a year of economic turmoil winds down on a quiet note, the world anticipates a 2025 that is bearing all the signs of a comparatively busier period across all sectors, says cash buyer GMS.The supply of tonnage has seen a year of record low recycling volumes, and yards are certainly yearning for busier days ahead, as freight markets increasingly start to divert more candidates for recycling, after…
Single Point of Failure Led to Grounding
The Australian Transport Safety Bureau (ATSB) has issued several safety recommendations after an electrical short circuit led to the grounding of a bulk carrier in the channel off Port Hedland, in Western Australia’s Pilbara region.On April 9, 2022, the Liberian-flagged bulk carrier Hagen Oldendorff departed its berth with a harbor pilot on board and four tugs assisting for an outbound passage of Port Hedland’s 40km dredged channel.During the transit…
WSC Elects New Chair
The World Shipping Council (WSC) Board of Directors has elected Soren Toft, CEO of MSC Mediterranean Shipping Company, as the new Chair of the World Shipping Council Board.“It is an honor to step into the role of Chair for the World Shipping Council and to represent the global liner shipping industry alongside our members. WSC is today a respected voice of liner shipping, engaging with governments and organizations globally…
Russia’s Domination of European Energy Ends
Russian gas exports via Soviet-era pipelines running through Ukraine came to a halt on New Year's Day, marking the end of decades of Moscow's dominance over Europe's energy markets.The gas had kept flowing despite nearly three years of war, but Russia's gas firm Gazprom said it had stopped at 0500 GMT after Ukraine refused to renew a transit agreement.The widely expected stoppage will not impact prices for consumers in the European Union - unlike in 2022…
