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Six missing and one dead after yacht sinks in Sicily

Posted to Maritime Reporter on August 19, 2024

Italian media reported that six people are missing and one person has died after a luxury boat was hit by a whirlwind off the coast Palermo in Sicily. The Italian coast guard and fire brigade had said earlier that divers were searching for missing people…

Seven people missing and 15 rescued following a sailboat sinking off Sicily

Posted to Maritime Reporter on August 19, 2024

Italian media reported that a 50-metre sailing boat with 22 people aboard sank early Monday morning off the coast Palermo in Sicily. Seven people remain missing. The Italian Coast Guard and firefighters saved 15 people including a young child…

Clifford Chance shocked after missing lawyer in yacht accident

Posted to Maritime Reporter on August 20, 2024

A prominent New York attorney who is one of six passengers missing from a sunken boat off the coast of Italy was travelling with his longtime British client, British technology entrepreneur Mike Lynch. This happened just weeks after he helped him avoid conviction for a 12-year legal battle.

Paris wheat falls to 5-month-low as Euro and Black Sea competition weigh

Posted to Maritime Reporter on August 19, 2024

Euronext Wheat fell Monday to a five-month new low, as the gains in the dollar against the euro highlighted the export struggles of western European wheat in comparison with cheaper Black Sea wheat. The poor harvests in France, Germany and other…

Source: UK's Mike Lynch is missing after his yacht sinks in Sicily

Posted to Maritime Reporter on August 19, 2024

A person familiar with the search operation reported that British tech entrepreneur Mike Lynch was missing on Monday after his luxury yacht was hit by a violent thunderstorm and sank near the Sicilian capital Palermo. Lynch, 59 years old, was…

German warships wait for orders to cross the disputed Taiwan Strait

Posted to Maritime Reporter on August 19, 2024

Their commander stated that two German warships are waiting for orders from Berlin to determine if they will be the only German naval vessels to have passed through the disputed Taiwan Strait in decades next month, at the risk to escalation tensions with Beijing.

EU wheat rebounds from 5-month lows, led by a front-month flurry

Posted to Maritime Reporter on August 16, 2024

Euronext wheat recovered from near five-month-lows on Friday, led by technical gains in the front-month contracts, although cheaper Black Sea supplies restricted gains and distracted attention from poor harvests across western Europe. Euronext December wheat was up 1.6% at 219…

Data shows that TotalEnergies LNG cargo bound for Bangladesh is now heading to Japan

Posted to Maritime Reporter on August 16, 2024

Data showed that a TotalEnergies SE LNG vessel docked in Bangladesh's Chittagong Port for three weeks will now be heading to the Futtsu Port in Japan as the state-run Petrobangla was unable to offload the cargo on the spot. The ship tracking…

EU wheat drops to four-month-low as Black Sea competition persists

Posted to Maritime Reporter on August 14, 2024

Euronext Wheat fell for the third day on Tuesday, to its lowest level in over four months. Traders said that competition from cheaper Black Sea wheat supplies outweighed disappointing western European harvests. The December wheat price on Euronext was 1.3% lower at 219…

Hapag-Lloyd's global order book is expected to increase, but not at a worrying level

Posted to Maritime Reporter on August 14, 2024

According to the German container liner Hapag Lloyd, who spoke with analysts on Wednesday, the global order book for ships, which represents 18% of the fleet of the world, will increase but at a reasonable rate. "I expect that the 18% which is not a concern…

EU wheat prices slip as Black Sea supplies weigh

Posted to Maritime Reporter on August 13, 2024

Euronext Wheat Futures fell on Tuesday for the second day in a row as Egypt's ongoing efforts to secure supply highlighted the availability of Black Sea wheat at lower prices. December wheat, which was the most actively traded position on Paris' Euronext exchange…

Poland launches a loan program of nearly 5 billion euro to finance offshore wind

Posted to Maritime Reporter on August 13, 2024

The state assets ministry, and the bank BGK announced on Tuesday that Poland will launch a program worth nearly 5 billion euros ($5,46 billion), financed by the European Union recovery funds. This programme will provide loans to the builders of offshore wind farm on the Baltic Sea.

Blackstone sells 3,300 UK homes to USS Pensions

Posted to Maritime Reporter on August 13, 2024

Blackstone, a private equity firm, announced Tuesday that it had sold 3,00 shared-ownership houses to Britain's largest private pension fund. This is a sign that big money managers are increasingly making deals in the UK housing industry. Blackstone…

UKMTO reports that a ship captain reported an incident southwest of Yemen’s Hodeidah.

Posted to Maritime Reporter on August 12, 2024

The United Kingdom Maritime Trade Operations agency (UKMTO), said Tuesday, that a ship's crew reported an explosion 63 nautical mile southwest of Yemen's Hodeidah. In a note of advice, the agency stated that the vessel and crew were safe and that the ship was proceeding to the next port.

EU wheat prices fall as Egypt's Black Sea competition highlights the Black Sea Competition

Posted to Maritime Reporter on August 12, 2024

European wheat futures declined on Monday, as an Egyptian import bid kept attention on the competitive Black Sea supply. However, unexpected downward revisions in U.S. corn and wheat supply forecasts limited losses. December wheat, which was…

EU wheat prices fall as Egypt's Black Sea competition highlights the Black Sea Competition

Posted to Maritime Reporter on August 12, 2024

European wheat futures declined on Monday, as an Egyptian import bid kept attention on the competitive Black Sea supply. Expectations that U.S. crop forecasts would increase in a report by the government also weighed on sentiment. The December wheat position…

Harland & Wolff, the Titanic shipbuilder, warns of future prospects

Posted to Maritime Reporter on August 12, 2024

Harland & Wolff, a British shipbuilder, announced on Monday that it would not be able finalise the accounts for 2023 as a going concern and had suspended its work to finish its unpublished accounting. It is now looking at options to remain afloat.

REVIEW-Olympics-Sailing-Change of the guard as Dutch dominate wind and water

Posted to Maritime Reporter on August 11, 2024

The wind or lack thereof was a challenge for Olympic sailors, officials, and broadcasters. However, the tight racing led to a change in the sailing world as foiling became a standard. The Netherlands won two golds, two bronzes, and Italy and Austria each took two golds.

PARIS OLYMPICS: What you should know now

Posted to Maritime Reporter on August 11, 2024

In a thrilling women's basketball match against France, the United States won the final gold medal of the Games and pushed them to the top of the medal table ahead of China. After a successful Games in France that helped revive the Olympic brand…

PARIS OLYMPICS: What you should know now

Posted to Maritime Reporter on August 10, 2024

The United States won a gold medal in basketball and a silver in table tennis, while China took home a number of golds in diving, weightlifting, and table tennis. The top two medal tables are still in play for the dominant sports nations on the final day of the Games. U.S.

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