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Container rates soar on concerns of prolonged Red Sea disruption, inflation

U.S. and British militaries have advised all ships to steer clear of the conflict zone

Container shipping rates for key global trade routes have soared this week, with U.S. and UK air strikes on Yemen stirring fears of a prolonged disruption to global trade in Red Sea, one of the world's busiest routes, industry officials said on Friday.

A vessel is seen arriving at Odesa in southern Ukraine under the Black Sea Grain Initiative on April 12, 2023.

Insurers, Ukraine launch war-risk ship insurance

Program announced in effort to cut grain costs

Reuters – Insurance broker Marsh, Lloyd’s of London insurers and Ukrainian state banks have launched a program to cut the cost of claims for damage to ships and crew transporting grain through the Black Sea corridor, Marsh said Nov. 15. Kyiv launched a “humanitarian corridor” in August for ships bound for Africa and Asia to

The maritime industry accounts for nearly three per cent of global carbon dioxide emissions.

The rebirth of sail-based shipping?

Cargill charters ship to test modern wind power at sea

Reuters – A dry bulk ship chartered by Cargill has launched on its first voyage to study how harnessing wind power can cut greenhouse gas emissions and energy use in the shipping sector, the U.S. commodities group said Aug. 21.  The maritime industry, which accounts for nearly three per cent of global carbon dioxide emissions



Liberia-flagged bulker K Sukret, carrying grain under the Black Sea Grain Initiative, waits for inspection in the southern anchorage of Istanbul on May 17, 2023. (Photo: Reuters/Mehmet Emin Caliskan)

Black Sea grain shipments shrink amid Ukraine deal doubts, Cargill exec says

'Grey/black' fleet seen handling more Russian traffic

London | Reuters — South American grain exports are set to overshadow Black Sea shipments this year as doubts grow over a U.N.-backed Ukraine deal and international traders cut commercial activities in Russia, a top executive with major commodities group Cargill said. The Black Sea grain deal, which allows the safe passage of grains through

Commercial vessels  –including vessels which are part of the Black Sea grain deal — wait to pass the Bosphorus strait off the shores of Yenikapi during a misty morning in Istanbul, Turkey on Oct. 31, 2022. (Photo: Reuters/Umit Bektas)

Insurers covering Ukraine grain corridor shipments for now

More clarity needed soon, Lloyd's exec says

London | Reuters — Insurers continue to cover grain shipments from Ukraine through a United Nations-backed corridor although more clarity will be required soon, a senior Lloyd’s of London official said on Thursday, after the export accord was renewed for at least 60 days. The deal allowing the safe wartime export of Ukrainian grain from


Grains export push to boost dry bulk shipping market

Grains export push to boost dry bulk shipping market

Reuters – Bumper soybean harvests in Brazil and unsold grain stocks in the United States are set to boost dry bulk shipping rates as buyers including China restock after supply shocks last year, leading freight operators have said. The dry bulk shipping market has been hit in recent months by slow activity, partly driven by