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Singapore commissioned two new advanced submarines on Tuesday, vessels its navy says are meant to protect sea lines of communication, and which experts said would range beyond the waters of the tiny city-state to keep tabs on the region.The country's fifth and sixth submarines, the Invincible and the Impeccable, were ordered from Germany's ThyssenKrupp Marine Systems in 2013 in a 1-billion-euro deal, and join older Archer- and Challenger-class boats.They represent a technological step forward for Singapore's fleet…

The Baltic Exchange's main sea freight index rose to its highest in close to three months on Thursday, propelled by higher rates in the capesize vessel segment.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 75 points to 2,091 points, hitting its highest since July 2.The capesize index jumped 265 points to 3,580 points, its highest since early July.Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, increased $2,195 to $29,690.The panamax index was down 45 points or 2.9% at 1,4

Britain on Thursday sanctioned five vessels and two associated entities involved in the shipping of Russian LNG, with the government saying it was using new legal powers for the first time to target LNG vessels directly."Earlier this year, the UK sanctioned Arctic LNG 2, alongside our allies in the US and EU. Since then, the project has been forced to slash production," the government statement said."Today’s action builds on this by targeting ships and entities involved in the Russian LNG sector…

The U.S. Department of Treasury on Wednesday sanctioned more than a dozen entities and vessels over their involvement in the shipment of Iranian crude oil and liquid petroleum gas to Syria and East Asia on behalf of the Iran's Revolutionary Guards and Hezbollah.Four ships associated with the fleet of Syrian shipping magnate Abdul Jalil Mallah, who was sanctioned by the U.S. in 2021, and his brother, Luay al-Mallah, were among the vessels included in Wednesday's action, the Treasury Department said in a statement. Luay al-Mallah was designated under U.S.

Japan's Self Defense Force patrolled the Taiwan Strait on Wednesday for the first time in an attempt to send a message to China, the Yomiuri newspaper, reported citing multiple government sources.SDF destroyer Sazanami entered the waters from the East China Sea on Wednesday morning, spending more than 10 hours sailing southward to complete the passage, the Japanese newspaper reported on Thursday.The passage was conducted in concert with naval ships from Australia and New Zealand…

Italy police said on Wednesday they had arrested 61 people across four countries and seized 60 million euros ($67.1 million) following an investigation into international drugs trafficking and money laundering.The case had revealed criminal drugs ties between Albania and Latin America, and once again showed how criminals in Europe are using shadow networks of illicit Chinese money brokers, police said.Finance police in the northern city of Brescia said 400 officers had carried out the arrests and searches in Italy, Albania, Switzerland and Poland, with the cooperation of local law enforcement

Richard Holtum will take over as chief executive of global trading house Trafigura from Jan. 1 next year, the company said on Tuesday.Holtum will take over the helm at a time when trading firms are set to see reduced profits following windfall years after the COVID-19 pandemic, while sharp equity growth in recent years will also mean hefty expenses in paying out departing shareholders.Holtum becomes the group's third ever CEO after around 10 years at the company. He joined Trafigura in 2014 on the firm's Liquefied Natural Gas (LNG) team…

U.S. companies that rely on East and Gulf Coast seaports have been importing early, shifting goods to the West Coast, and even putting cargo on pricey flights to hedge against a threatened Oct. 1 strike that could jam supply chains and reignite inflation ahead of the U.S. presidential election."This is just another headache after everything else we've been dealing with," said Kenneth Sanchez, CEO of Chesapeake Specialty Products, which sends goods like metallic abrasives and foundry…

The United States and Canada on Tuesday said they will create a task force this autumn to negotiate the maritime boundary in the Beaufort Sea and resolve the overlap along the continental shelf.The group will work toward a final agreement covering the border area, which lies north of Alaska and the Canadian provinces of Yukon and the Northwest Territories, the two countries said.The negotiations come amid a rise in cooperation between Russia and China in the Arctic Sea, where…

Israel's ports in the northern city of Haifa were operating at normal capacity despite an escalation in fighting with Hezbollah in nearby Lebanon and the city being targeted by rocket fire, Israeli authorities said on Tuesday.Haifa is Israel's third largest city and handles much of the country's vital seaborne trade. On Monday, sirens sounded across the city for the first time after months of border-area conflict and the military's defence systems fired interceptors at Hezbollah rockets above the Haifa bay.

The state of Maryland on Tuesday filed civil claims against the owner and operator of the cargo ship that struck the Francis Scott Key Bridge in March, killing six people and paralyzing a major transportation artery for the U.S. Northeast.The lawsuit seeks damages from two Singaporean companies that are the registered owner of the Dali cargo ship, Grace Ocean Pte Ltd, and its manager, Synergy Marine Group, for the cost of the bridge, cleanup efforts, environmental claims and other costs.

An Egyptian warship has delivered a second major cache of weaponry to Somalia including anti-aircraft guns and artillery, port and military officials said on Monday, in a move likely to stoke further friction between the two countries and Ethiopia.Ties between Egypt and Somalia have grown this year over their shared mistrust of Ethiopia, prompting Cairo to send several plane loads of arms to Mogadishu, Somalia's capital, after the countries signed a joint security pact in August.Ethiopia…

U.S. offshore oil producers were taking initial steps ahead of a storm predicted to become a hurricane in the middle of the week, evacuating non-essential staff from Gulf of Mexico production platforms.The U.S.

Imports of liquefied natural gas (LNG) from Russia at the Netherlands' main terminal in Rotterdam have risen in recent months, underlining the need for further sanctions, the Dutch government said on Monday.Imports of Russian LNG at the GATE terminal in Europe's largest sea port have increased in the third quarter, as the average number of Russian carriers that arrived there doubled to two per month, the government said.This increase could be an effect of new sanctions that came into effect this summer…

Greece will start negotiations to buy a fourth Belharra frigate from France to strengthen its navy as it recovers from a decade-long debt crisis, the country's defence minister said on Thursday.Greece agreed in 2021 to get three new Belharra frigates for 3.0 billion euros ($3.34 billion), with an option for one more, as it aims to replace old units that have operated for more than 30 years in its navy."I am pleased to announce today Greece's intention to start negotiations to acquire one more frigate…

The families of the six workers who died in the March collapse of the Francis Scott Key Bridge in Baltimore filed lawsuits on Friday against the owner and operator of the cargo ship that struck the bridge.The lawsuits filed in Maryland federal court by the families of Carlos Daniel Hernandez Estrella, Alejandro Hernandez Fuentes, Miguel Angel Luna, Dorlian Ronial Castillo Cabrera, Maynor Yasir Suazo Sandoval and Jose Mynor Lopez seek unspecified damages from the registered owner of the ship…

Russia's seaborne oil product exports in August fell to 9.074 million metric tons, down 2.3% month on month, data from industry sources and Reuters calculations showed.Russia's offline primary oil refining capacity for August at 2.95 million tons was up from July's level by some 3%, according to Reuters calculations based on data from industry sources.Total oil product exports via the Baltic ports of Primorsk, Vysotsk, St.

Broker Marsh and Lloyd's underwriter Tokio Marine Kiln (TMK) have set up business interruption insurance for ports to provide cover against growing trade disruption risks such as threats to shipping in the Red Sea, executives involved said.Ports across the globe are dealing with multiple issues that are disrupting flows of goods, including attacks by Yemen's Houthis on commercial shipping as well as the risk of strikes at terminals in the United States."Recent geopolitical turmoil has exposed a clear gap in the standard cover available to ports and other cargo facilities.

A Russian missile strike has damaged infrastructure and an Antigua-flagged civilian vessel in the Ukrainian port of Odesa, the regional governor said on Friday.Four people were wounded in the airstrike, Governor Oleh Kiper said on the Telegram messaging app."Debris from, according to preliminary assessment, an Iskander-M missile, damaged port and civilian infrastructure, as well as a civilian ship flying the flag of Antigua," Kiper said.The Iskander-M is a ballistic missile which flies at several times the speed of sound and has a stated range of up to 500 km (310 miles).A market source, speak

The shipping unit of Indonesia's state energy firm Pertamina plans to double its fleet of 320 tankers in the next 10 years, the unit's CEO Yoki Firnandi told the Gastech conference in Houston on Thursday.The expansion, aimed at reducing the average age of the company's fleet, is set to include investment in vessels to transport liquefied natural gas (LNG).Indonesia is a major producer and exporter of LNG.

The cost of insuring a ship through the Red Sea has more than doubled since the start of September and some underwriters are pausing cover as the risk of attack from Yemen's Houthis on commercial vessels increases, industry sources said.The Iran-backed Houthis first launched aerial drone and missile strikes on the waterway in November. They say they are acting in solidarity with Palestinians under assault in Israel's war on Gaza. In more than 70 attacks, the Houthis have sunk two vessels…

A 30-metre long ship struck a reef and sank off the coast of Greenland on Thursday, while its four crew members were evacuated to safety, local police said.The ship had some 15,000-20,000 liters of diesel in its tanks and a further 1,000 liters of engine oil, and protective barriers were placed in the water in a bid to contain any spills, they added.(Reuters - Reporting by Stine Jacobsen and Essi Lehto, editing by Terje Solsvik)

U.S. coastal waters are a public good increasingly at risk of privatization, threatening local economies that have depended on the sea for generations, fishermen and environmental advocates warned.Critics point to efforts to open up waters to industrial-scale fish farms, a federal permit system they say is stacked against small or new operators, and even coastal real estate development squeezing out independent businesses."There is another real estate grab, but it's in the ocean…