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...“We are urging the international community to mobilise and do what it needs to do to reopen the [Bab-el-Mandeb] strait....
...Richard Neylon, a shipping lawyer at HFW, said it was sometimes “not within the shipowners’ power to open and inspect” containers. “[Shipping is essential] for international trade....
...The number of tankers shipping Russian oil without western insurance has risen since the introduction of the cap....
...and assume global responsibility for potential future international risks.”...
...Since 1983 an International Maritime Organization convention prohibits vessels from releasing any liquid into the sea containing more than 15 parts per million of oil, and they must pay to offload anything...
...However, Stuart Nicoll, a director at Maritime Strategies International (MSI), a London-based consultancy, insisted that wind power had clear benefits given steady growth in taxes on shipping emissions....
...Dominguez also expressed admiration for how the shipping industry had coped with the security crisis around the Red Sea. “Shipping continues to be resilient,” he said....
...Brent crude, the international oil benchmark, rose 2.3 per cent to $78.80 a barrel. WTI, the US equivalent, also rose 2.3 per cent to $73.27 a barrel....
...“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...
...The risks have risen as international trade in goods has increased and ships have grown larger....
...Agnello added that Staveley was “an extremely experienced international businesswoman”....
...In 2019, Iran’s Revolutionary Guard Corps sparked a diplomatic and maritime security crisis in the world’s busiest energy waterway....
...But the company’s statement insisted its cranes were “designed, manufactured, transported, assembled, commissioned and delivered” strictly in accordance with international standards....
...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...
...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...
...Jakob Larsen, head of safety and security for Bimco, a large international association of shipowners, said the search for security advice reflected how the shipping industry was “very worried” about the...
...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...
...“Today’s action underscores our resolve to restrict the illicit flow of funds to the Houthis, who continue to conduct dangerous attacks on international shipping and risk further destabilising the region...
...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....
...Biden said the US Army Corps of Engineers would work swiftly to clear the channel and allow the port to reopen to ships....
...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...
...Shapps said the assaults on shipping had forced 12 international companies, including energy group BP and Maersk, to suspend passage through the Red Sea, and caused insurance costs to increase 10-fold since...
...The writer is the managing director of the International Finance Corporation Emerging market businesses have long been perceived as risky destinations for investment. But how risky, exactly?...
...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...
...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...
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