Latest news with #shippingIndustry
The Standard
10-07-2025
- Business
- The Standard
HKU forecasts slower growth in Q3 to 2.4pc
A drone view shows a cargo ship at Kwai Tsing Container Terminals in Hong Kong, China. REUTERS
Wall Street Journal
09-07-2025
- Business
- Wall Street Journal
U.S. Ports Appeal for Delay to Tariffs on Chinese Cranes
U.S. port operators are warning that the cost of critical upgrades would balloon by tens of millions of dollars if the Trump administration moves forward with proposed new tariffs on port equipment. The administration is proposing tariffs of up to 100% on Chinese-made cranes and other cargo-handling equipment as part of broader efforts to counter China's dominance of the maritime industry. Shipping industry officials say the fees would be stacked on top of 25% tariffs on Chinese-made cranes introduced under the Biden administration, and in addition to China duties being considered by Trump's trade team.
LBCI
08-07-2025
- LBCI
Cargo ship in Red Sea 'under continuous attack'
A cargo ship has been under attack in the volatile Red Sea since Monday after losing power and suffering major damage, a maritime monitor said on Tuesday. "The vessel has sustained significant damage and has lost all propulsion. The vessel is surrounded by small craft and is under continuous attack," the United Kingdom Maritime Trade Operations said in a statement.
Wall Street Journal
24-06-2025
- Business
- Wall Street Journal
Cool Heads Prevailed in the Strait of Hormuz
Your editorial 'Iran's Strait of Hormuz Gambit' (June 23) rightly notes the waterway's importance. Much of the global economy depends on the 20% of the world's oil supply that travels through the strait. Yet even as the Iranian parliament voted to close the strait, the shipping industry reacted with remarkable sanguinity. Oil prices rose, and maritime insurers' long-standing requirements for voyages through the strait remained in place, but ships sailed through at an almost-normal pace. On June 20, 104 ships transited, and on June 21, 122 ships did so. On June 22, as the U.S. bombed three Iranian nuclear sites, 117 sailed through. In June 2024, an average of 114 ships transited the strait each day. The shipping industry has learned to distinguish between threats and realities, knowing that Iran depends on the passage too. The industry also knows that the Iranian regime remembers the chaos and hardship caused by the 1980s 'Tanker War' between Iran and Iraq. The 451 attacks, most of which were carried out by Iraq, struck 340 ships, killed 116 seafarers and caused enormous disruption to merchant shipping.
LBCI
20-06-2025
- Business
- LBCI
Maersk halts stops in Israel's Haifa due to Iran-Israel conflict
Danish shipping giant Maersk announced Friday that it was temporarily suspending vessel calls in Israel's Haifa port due to the country's conflict with Iran. Maersk said in a statement that it made the decision "after carefully analyzing threat risk reports regarding the ongoing conflict between Israel and Iran -- particularly the potential risks of calling Israeli ports and their implications for the safety of our crews." AFP
