Tariffs Destabilizing Ship Recycling Market
The effects of the US 25% tariffs announced on Chinese steel and aluminum products is already seeing destabilizing effects on ship recycling markets, says cash buyer GMS.“It remains unsure as to where much of this surplus / excess and resultingly cheaper steel will end up, devastating ship recycling prices.”Compounding market uncertainties have taken center stage, says GMS, with President Trump’s “uncalculated tariff wars sending economies rocking this week, unintentionally targeting the U.S.
China Condemns Sailing of Canadian Warship in Taiwan Strait
China's military on Monday condemned the sailing of a Canadian warship in the Taiwan Strait, saying its air and naval forces had monitored and warned the ship, a mission that came just a few days after U.S. Navy ships made a similar mission.The U.S. Navy, and occasionally ships from allied countries like Canada, Britain and France, transit the strait, which they consider an international waterway, around once a month.
MSC Baltic III Grounded, Crew Safe
Canada’s Marine Communications and Traffic Services received a MAYDAY on Saturday from the MSC Baltic III as it ran aground located approximately 12 nautical miles outside the entrance to Bay of Islands, Newfoundland and Labrador, Canada.The vessel reported a loss of power, and unable to secure an anchor in the adverse conditions, grounded in Wild Cove west of Lark Harbour. All 20 crew have been airlifted…
ICS Pushes Levy-Based System Ahead of IMO Meeting
Guy Platten, Secretary General of the International Chamber of Shipping, has released a statement ahead of the UN IMO Intersessional Working Group on Reduction of GHG Emissions from Ships (ISWG-GHG 18) calling for a levy-based GHG pricing mechanism.The key purpose of the mandatory GHG charge will be to reduce the cost gap between conventional marine fuels and zero/near-zero GHG emission fuels (such as green methanol…
Space Norway Launches World's Northernmost Subsea Cable
Space Norway is set to establish new high-speed connection from the Norwegian mainland to Jan Mayen and Svalbard.Space Norway has signed a contract with SubCom for the full system supply of the Arctic Way Cable System, including survey, design, manufacturing and installation. Scheduled to commence service in 2028, this new system will become a critical asset for transmitting data traffic between the mainland…
Golden Ocean Group Appoints New Director
Dry bulk shipping company Golden Ocean Group has appointed Tonesan Amissah as Director of the company.Amissah is a Barrister and Attorney-at-Law with over 30 years of experience in international corporate law.She is currently a Client Director at Ocorian Services (Bermuda), a global fiduciary and corporate services company where she oversees all aspects of client service. Amissah is a former partner…
US Drops Website Wording on Taiwan Independence
The U.S. State Department has removed a statement on its website that it does not support Taiwan independence, among changes that the island's government praised on Sunday as supporting Taiwan.The fact sheet on Taiwan retains Washington's opposition to unilateral change from either Taiwan or from China, which claims the democratically governed island as its own.But as well as dropping the phrase "we do not support Taiwan independence"…
