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Global trade
Maersk chief warns Red Sea shipping disruption may last for months
...“We are urging the international community to mobilise and do what it needs to do to reopen the [Bab-el-Mandeb] strait....
January 11, 2024
War in Ukraine
Russian ‘dark fleet’ lacks disaster insurance, leaks suggest
...Exxon’s total costs for cleaning up the Valdez spill in 1989, including damages claims and fines, were estimated to be as much as $7bn — or $17bn when adjusted for inflation....
March 15, 2024
FT Live
Global Insurance Summit
Strengthening resilience, capital and innovation as systemic risks evolve
Thursday, 13 JuneLondon, UK
Container shipping
Drug gangs have infiltrated shipping supply chains, warns Maersk executive
...As a result, shipping companies are dealing with “some of the most dangerous people in the world....
October 18, 2023
Houthi movement
The mysterious Iranian ship accused of lining up the next Houthi targets
...and assume global responsibility for potential future international risks.”...
March 9, 2024
Pollution
Climate graphic of the week: World’s worst hotspot for oil pollution by ships
...Until recently, little was understood outside the shipping world about the extent of the dumping as it is almost impossible to monitor comprehensively....
March 23, 2024
News in-depthMiddle East
Houthis blow open murky world of ship nationality
...In the latest attack, on Monday, the Houthis fired two missiles at the MSC Sky II, a container ship operated by Geneva-based Mediterranean Shipping Company, the world’s biggest container shipping line....
March 5, 2024
FT Live
Global Private Banking Awards 2024
Celebrating excellence in wealth management
Thursday, 7 NovemberThe Landmark London, London, UK
FirstFT
FirstFT: Private equity chiefs reap $40bn gain in share value as assets rise
...However, it remains unlikely that shipping companies will return to the Suez Canal, security experts say. 4....
February 12, 2024
Insurance
Lloyd’s of London chief calls for quick insurance payouts on Baltimore bridge
...“There is a lot of cover for the [protection and indemnity] element to address,” said Neal, citing the $3bn of liability reinsurance that the ship has access to through the International Group of P&I Clubs...
March 28, 2024
ExplainerMaritime accidents and safety
The Baltimore bridge disaster: what happened and who will pay?
...The risks have risen as international trade in goods has increased and ships have grown larger....
March 27, 2024
Houthi movement
Three killed in Houthi attack on cargo ship off Yemeni coast
...One hit the container ship MSC Sky II on Monday, while the US warship USS Carney shot down another. It did not say what happened to the other two weapons....
March 7, 2024
Middle East conflict
Iran seizes Israel-linked container vessel
...Guy Platten, secretary-general of industry lobby group the International Chamber of Shipping, called the seizure of the MSC Aries a “flagrant breach of international law and an assault on freedom of navigation...
April 13, 2024
Amanda Staveley
Amanda Staveley in court bid to prevent shipping tycoon from pushing her into bankruptcy
...Newcastle United football club director Amanda Staveley on Wednesday called on a judge to block a shipping magnate from pushing her into bankruptcy as her lawyers called a multimillion-pound demand he has...
February 28, 2024
US-China relations
China’s ZPMC insists its US cranes present ‘no cyber security risk’
...As part of the same programme, Paceco, a subsidiary of Japan’s Mitsui, will move production of STS cranes back to the US....
March 11, 2024
Shipping
Global shipping fleet ages as shipowners resist shift to greener fuels
...This summer, diplomats at the UN’s International Maritime Organization set a target for shipping, which delivers about 90 per cent of the world’s traded goods, to achieve net zero emissions “by or around...
January 7, 2024
FT Asset Management
Mifid 2 already
...Mifid 2 already It is starting to feel like at least parts of Mifid II were a really weird dream....
April 15, 2024
FT Live
Financial Times @COP
FT Live events coinciding with COP
Monday, 11 NovemberBaku, Azerbaijan
News updates from December 18: Apple halts US Watch sales, US boosts Red Sea shipping security
US and allies beef up security for Red Sea shipping as threats mount
...The Pentagon has convinced more than a half dozen allies to join a strengthened naval task force in the Red Sea amid mounting attacks by Iran-backed rebels on commercial shipping that have driven oil prices...
December 18, 2023
News updates from March 22: Dozens dead in Moscow attack; Princess of Wales undergoing cancer treatment
Cosco subsidiary cites weak global demand as profits plummet
...Orient Overseas (International) announced a $1.4bn profit for 2023 on Thursday, down from $10bn in 2022. The company also cut its final dividend by more than 90 per cent....
March 22, 2024
Letter
Letter: Flag-of-convenience system holed below the waterline
...In regard to the current crisis confronting international shipping in the Red Sea, you quote Peter Aylott, director of policy at the UK Chamber of Shipping, as saying that ship ownership and nationality...
March 15, 2024
Houthi movement
US launches fresh strikes on Houthis as Red Sea trade disruption spreads
...Qatari Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani said on Tuesday that the escalating attacks in the Red Sea had changed “how we view the international trade, how we view international shipping...
January 16, 2024
Shipping
US and UK step up pressure on Houthi rebels to deter Red Sea shipping attacks
...As well as attacking shipping, the rebels have fired missiles and drones at Israel....
January 1, 2024
US-China trade dispute
China circumvents US tariffs by shipping more goods via Mexico
...China is shipping more goods to the US via Mexico, circumventing steep tariffs imposed by the Trump administration and retained by Joe Biden’s White House, according to a Financial Times analysis of trade...
February 21, 2024
Israel-Hamas war
Expanded US-led naval task force to protect Red Sea shipping as attacks mount
...The initiative, which will include participation at some level from more than a half dozen Nato countries, including the UK and France, as well as regional allies like Bahrain, come as Iranian-backed Houthi...
December 18, 2023
Shipping
Somali pirates seize ship as global naval forces focus on Houthi threat
...The capture of the bulk carrier Abdullah off the Somali coast is the first such incident since December, underlining what the industry sees as a growing risk for commercial shipping....
March 12, 2024
Chinese foreign policy
China pushes for safety of Red Sea shipping as threat to its economy grows
...“The Red Sea shipping route is of great importance to Chinese merchant ships,” Yin said....
January 19, 2024
AP Møller-Maersk AS
Maersk cuts 10,000 jobs as shipping boom ends
...Profits are falling just as officials are tightening their scrutiny of shipping, which has previously proven difficult to regulate because of its international nature....
November 3, 2023

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