The fragile balance of global trade has come under renewed strain as the Secretary-General of the International Maritime Organization, Arsenio Dominguez, issued a stark warning to the United Nations Security Council: the
The International Maritime Organization (IMO) is spearheading efforts to modernize the global shipping industry with a comprehensive digitalization strategy aimed at boosting efficiency, safety, and sustainability. During its 49th session in London
More
In 2024, 128 major maritime construction projects were launched globally, with a total investment of approximately $52.63 billion. The combined cost of the ten most expensive projects alone reached around $26 billion,
More
Despite the perception that oil piracy is a thing of the past, the danger of petro-piracy continues to be a pressing issue for the global oil industry. Petro-piracy refers to the hijacking
More
The ocean absorbs 90 percent of the excess heat generated by burning fossil fuels and deforestation. Climate change caused by greenhouse gas emissions is the primary driver of long-term global warming. Today, humanity is
More
by Our Economic Affairs Editor As Hambantota International Port (HIP) embarks on an ambitious expansion plan, the port is set to redefine its role in global maritime trade. With the introduction of
More
DP World has reached a significant milestone, surpassing 100 million TEUs of container handling capacity across its global portfolio, a remarkable achievement that underscores the company’s aggressive investment strategy and leadership in
More
A groundbreaking new approach from Lancaster University harnesses artificial intelligence (AI) to detect icebergs and floating ice, boasting an impressive 94% success rate. This new AI-powered system is designed to tackle a
More
Shipowners have placed record orders for container vessels, driven by strong profits and signaling a potential shift in the global shipping landscape. According to a report from the Financial Times, the total
More
by Our Economic Affairs Editor The Port of Colombo has set a new benchmark in 2024, achieving a record throughput of 7,782,776 Twenty-foot Equivalent Units (TEUs), marking the highest performance in its
More
The global shipping industry is experiencing a significant shift in vessel demand, with shipowners moving away from ordering the massive container ships that once defined the boom in global trade. According to
More