Admiral Ossama Rabiee Holds Meetings with Representatives of 20 Shipping Lines and Shipping Agencies.

Admiral Ossama Rabiee, Chairman of the Suez Canal Authority, held a meeting with representatives from 20 shipping lines and agencies to discuss regional developments in the Red Sea and Bab el-Mandeb and their effects on global trade and maritime transit. Attended also by senior officials, the meeting aimed to strengthen communication, review recent traffic improvements, and promote transit through the Canal amid regional stability. Participants expressed support for ongoing development projects, discussed incentives to attract more vessels, and highlighted the importance of regional stability, insurance costs, and international cooperation. The Chairman emphasized reviewing proposals and encouraging trial voyages to boost future transit volumes.

Date : 04-11-2025

Maersk Announces $2 Billion Commitment to Indian Port Infrastructure.

During India Maritime Week 2025, A.P. Moller – Maersk announced strategic plans to expand its presence in India through port infrastructure investments, vessel reflagging, and stronger local collaborations. A key initiative is the $2 billion expansion of APM Terminals Pipavav, aimed at increasing port capacity and enhancing multimodal connectivity, supporting India’s economic growth. Maersk has also established a new entity, Maersk Bharat IFSC, flagged vessels under the Indian flag, and is partnering with Indian shipyards for vessel repair, maintenance, and potential new builds. The company is exploring local manufacturing of containers to boost domestic supply chain resilience. These efforts align with India’s Maritime India Vision 2030, which aims to modernize ports and shipping infrastructure. Additionally, CMA CGM has committed to building six LNG dual-fuel containerships in India, further strengthening the country’s maritime sector.

Date : 02-11-2025

DP World Pledges $5 Billion Investment in India's Maritime Infrastructure.

DP World announced a $5 billion investment plan to develop India's infrastructure, building on three decades of operations that have already seen $3 billion invested. The focus is on strengthening supply chains, improving multimodal connectivity, and boosting India's role in global trade. The announcement was made at India Maritime Week 2025 in Mumbai, alongside five new Memorandums of Association covering areas like green coastal shipping, shipbuilding, skill development, and advanced freight mobility. Key partnerships include initiatives in green shipping, ship repair, and port upgrades, including a pilot MagRail project for automated port operations. With a presence in over 200 locations and more than 24,000 jobs created, DP World's investments aim to reduce logistics costs, support manufacturing, and align with national priorities like PM Gati Shakti and Sagarmala.

Date : 02-11-2025

DP World Sokhna Warehouse Officially Opened With An Investment Of $85 Million.

Dr. Mostafa Madbouly, Egypt’s Prime Minister, inaugurated the DP World Egypt Logistics Warehouse in Sokhna, covering 300,000 sqm with an $85 million investment. The facility, part of efforts to boost the logistics sector within the Suez Canal Economic Zone, has already begun operations, with a second phase planned for 2026. It offers customs and non-customs storage, digital solutions, and aims to support sectors like agriculture, electronics, and automotive, strengthening Egypt’s role as a regional trade hub. Since 2008, DP World has invested over $1.3 billion in Egypt to modernize Sokhna Port and enhance global supply chains, fostering economic growth and job creation.

Date : 02-11-2025

U.S. President Donald Trump and Chinese President Xi Jinping took measures to ease their trade tensions.

The U.S. and China reached a deal to de-escalate their trade tensions, extending a trade truce for about a year. Key elements include:

• Tariff Reductions: The U.S. will halve tariffs on Chinese fentanyl-related goods from 20% to 10%, lowering overall Chinese import tariffs to about 47%.
• Rare Earths and Magnets: China agreed to pause new export controls on rare earth minerals and magnets for one year, which are critical for various industries and military use.
• Export Controls: The U.S. will pause a one-year extension of a broad blacklist restricting high-tech exports to Chinese firms.
• Soybean Purchases: China committed to buying 12 million metric tons of U.S. soybeans this year and 25 million tons annually for the next three years, restoring previous levels.
• Port Fees: The U.S. agreed to suspend new port fees on Chinese ships for a year, which had increased shipping costs.
• Fentanyl Trafficking: China promised substantial cooperation in reducing the flow of fentanyl precursors to the U.S., aiming to curb opioid overdoses.

Overall, the deal prevents a potential 100% tariff on Chinese goods, maintaining a fragile trade truce amid ongoing negotiations.

Date : 01-11-2025

The Chairman of the Suez Canal Economic Zone Witnesses the Signing of a Strategic Cooperation Protocol Between Kimet Industries Group And Qalaa Group – Red Flag in the Sukhna Industrial Zone.

Mr. Walid Gamal El-Din, Chairman of the Suez Canal Economic Zone, attended the signing of a memorandum of understanding between Kimet Industries Group and Qalaa Group – Red Flag. The agreement aims to establish three major industrial projects in the Sukhna Industrial Zone, including a steel pipe factory, a tire manufacturing plant, and a fiber optic cable factory. These projects will support infrastructure development, boost local manufacturing, enhance exports, and create jobs, aligning with Egypt’s broader development goals.

Date : 31-10-2025

At The End Of His Promotional Visit To Japan, The Chairman Of The Suez Canal Economic Zone Held Meetings With Leading Japanese Companies To Explore Collaboration In The Areas Of Heavy Machinery, Food Products, And Synthetic Fibers.

Mr. Walid Gamal El-Din, Chairman of the Suez Canal Economic Zone, concluded a promotional visit to Tokyo with meetings with leading Japanese companies in heavy industry, food, synthetic fibers, and infrastructure. He discussed potential collaborations in manufacturing, green hydrogen projects, and infrastructure development, emphasizing efforts to attract Japanese investments and strengthen industrial and technological partnerships. The visit also included high-level meetings with government officials and participation in the HENCA 2025 conference, highlighting the zone’s strategic vision to promote sustainable, green industries and expand regional and international cooperation.

Date : 30-10-2025

With An Investment Of 10 Million Us Dollars... The Head Of The Suez Canal Economic Zone Witnesses The Signing Of A Contract For The Project Of "Al-ahram Chemicals" Company To Produce Formaldehyde And Its Derivatives In The Suez Industrial Zone.

Mr. Walid Gamal El-Din, Chairman of the Suez Canal Economic Zone, attended the signing of a contract for Al-Ahram Chemicals' new industrial complex in the Suez Zone. The project, with $10 million in investments, will produce formaldehyde, urea formaldehyde, adhesives, and melamine, creating 150 jobs. It covers 14,000 sqm and is set to start operations in early 2027. The initiative aims to enhance the chemical industry, support local manufacturing, and boost exports, aligning with the zone’s strategic development plans. This project is the second under a government initiative to expand export-capable industrial activities within the zone.

Date : 30-10-2025

Port Of Alexandria Received Three Cruise Ships During This Week.

The Alexandria Port Authority, in coordination with government agencies, received three cruise ships within a week, carrying over 8,000 passengers, highlighting the port's growing status as a major tourist destination. The ships included Saga Spirit of Adventure, Volendam, and Norwegian Viva, arriving from Greece and Malta, with passengers enjoying seamless procedures and guided tours. The port ensured safety and security throughout arrivals, and the event included welcoming ceremonies and souvenir gifts to enhance the tourist experience and promote maritime tourism in Egypt.

Date : 30-10-2025

Port Of Damietta: In It's First Operation of Its Kind the Liquefied Natural Gas Vessel "Hellas Diana" Is Successfully Moored to the Floating Regasification Unit "Energos Winter".

The Damietta Port Authority successfully conducted a pioneering operation, mooring the LNG vessel "HELLAS DIANA" alongside the floating regasification unit "ENERGOS WINTER" for the first time at Damietta Port. The operation highlights the port's advanced infrastructure, operational capabilities, and strategic location on the Mediterranean, positioning it as a key regional energy hub. The achievement reflects the port’s high readiness, professionalism, and role in supporting Egypt’s energy system and national economy, reinforcing its status as a leading smart and integrated port in the eastern Mediterranean.

Date : 26-10-2025

Russia and China Conclude Agreement to Collaboratively Develop Arctic Shipping via the Northern Sea Route.

• Beijing and Moscow have reached an agreement to collaborate on the development and commercialization of shipping routes along the Northern Sea Route in the Russian Arctic.
• The deal, signed in Harbin last week between Rosatom’s director Alexey Likhachev and China's Minister of Transport Liu Wei, aims to enhance Arctic shipping capabilities and facilitate faster trade between Asia and Europe. Rosatom manages Russia’s nuclear icebreaker fleet, and the agreement builds on a cooperation framework established last year.
• The Arctic shortcut is increasingly being used by Chinese operators, exemplified by the record-breaking transit of the Istanbul Bridge from Ningbo to the UK in just 20 days—half the time of traditional routes. China plans to establish a regular Arctic shipping service during ice-free summers.
• The collaboration aligns with broader Russian-Chinese regional cooperation, including energy investments and joint naval patrols. With disruptions along traditional routes like the Suez Canal, the Arctic route is gaining importance, especially for Chinese trade and energy imports, though Western traffic has declined amid the Ukraine conflict.

Date : 26-10-2025

Maersk is the second major container shipping company to re-flag its vessels in India.

Maersk has joined CMA CGM in reflagging containerships to the Indian register, signaling a strategic move to capitalize on India's growing economy and shipping industry. The first vessel, Maersk Vilnius, was reflagged in October, followed by Maersk Vigo. Both ships, previously registered in Singapore, are now Indian-flagged and operating in regional routes. Maersk plans further investments in India, including repairs and potential shipbuilding partnerships with Cochin Shipyard, despite capacity limitations. CMA CGM has already reflagged two ships and intends to build vessels locally. The Indian government is actively promoting domestic shipping and shipbuilding through regulatory changes and financial incentives, aiming to increase the share of exports transported on Indian-flagged ships from less than 10% to 40%, while also creating employment opportunities for Indian seafarers. MSC is also considering registering ships in India, with official announcements expected soon.

Date : 25-10-2025

The Suez Canal has entered into a strategic partnership agreement with Anchorage Investments to develop a petrochemicals complex in Ain Sokhna, with an initial investment of $2 billion for the first phase.

Adm. Ossama Rabiee, Chairman of the Suez Canal Authority (SCA), attended the signing of a strategic partnership between the SCA and Anchorage Investments to develop a petrochemicals complex at Ain Sokhna on SCA land. The project aligns with Egypt's broader goal to boost industrial development, utilizing latest technologies to create high-value products, initially producing polypropylene and hydrogen with over $2 billion in investments. Plans include expanding production and industrial units in the second phase, with a total investment of around $4.5 billion. The project is expected to generate over 2,500 jobs and enhance local employment and skills. Adm. Rabiee emphasized the importance of private sector collaboration to strengthen the national economy and increase foreign currency revenues through such industrial ventures. Dr. Ahmed Moharram of Anchorage Investments highlighted the project's focus on export-oriented, sustainable industries that contribute to Egypt’s industrial diversification. The agreement was signed at the SCA headquarters in Ismailia, marking a significant step toward advancing Egypt’s industrial and economic growth.

Date : 23-10-2025

MSC intends to reflag several containerships under the Indian flag.

• A report from Indian media indicates that MSC Mediterranean Shipping Company is close to deciding to reflag some of its vessels under the Indian flag. This move aims to adapt to upcoming regulatory changes in India and could offer MSC a competitive edge in the expanding Indian market.
• India is actively working to boost its domestic shipping industry, develop shipbuilding capabilities, and reduce reliance on foreign-flag carriers. Discussions with MSC and other major carriers like CMA CGM and Maersk are ongoing, with CMA CGM having already reflagged vessels and recruited Indian seafarers.
• India’s government is also planning to establish a national container carrier and promote local shipbuilding through agreements with Indian yards. Despite some tensions between MSC and Indian authorities following a recent vessel incident, reflagging could help MSC mitigate issues and align with India’s maritime growth strategies.

Date : 22-10-2025

Stena Advances Fleet Modernization with an Order for a New, Larger Ro-Ro Vessel Design.

• Stena Line, one of Europe's leading ferry operators and a pioneer in cargo Ro-Ro services, is accelerating its fleet upgrade by commissioning a larger Ro-Ro vessel based on its successful existing designs. The company has signed a letter of intent with China Merchant Industries for up to six new cargo Ro-Ro ships, reinforcing its long-standing partnership. These new vessels, called C-Flexer, will have a capacity of 3,000 to 4,700 lane meters, exceeding the size of the current vessel, Stena Connecta.
• The design builds on previous models like E-Flexer and New Max, featuring an efficient hull, engines prepared for future fuels, and hybrid battery options.
• The ships will be around 200 meters long and capable of speeds up to 21 knots.

Date : 22-10-2025

Decarbonization Focus Shifts to MEPC Working Group Following IMO's Delay.

• The IMO’s Intersessional Working Group on Greenhouse Gas Emissions from Ships met as scheduled on October 20, despite industry confusion and disappointment over the previous decision to postpone discussions on the Net-Zero Framework for a year.
• The group is continuing to develop guidelines for implementing the framework, focusing on key issues such as emissions reduction, funding, and alternative fuels. While some industry stakeholders see the delay as unfortunate, others remain committed to working toward global regulation and decarbonization.
• Critics, including representatives from Pacific nations and industry advocates, express frustration over the delay, citing increased uncertainty and potential harm to communities. Industry players generally support the IMO as the appropriate forum for global regulation and are urging efforts to close remaining gaps in the agreement.
• The upcoming IMO meeting summary will be crucial in signaling whether a clearer path forward can be established.

Date : 22-10-2025

The initial meeting of the Joint Maritime Committee between Cyprus and Egypt took place in Limassol.

• The Ministry of Transport of Egypt and the Ministry of Shipping of Cyprus held their first Joint Maritime Committee (JMC) meeting in Limassol, marking a significant step in strengthening maritime cooperation and implementing their 2006 maritime transport agreement. The meeting was chaired by Cypriot and Egyptian officials and attended by representatives from various maritime sectors, highlighting Egypt's strong interest in regional maritime development.
• Discussions focused on enhancing cooperation under the Mediterranean Memorandum of Understanding, maritime education, international coordination, and port collaboration.
• The meeting concluded with a commitment to turn dialogue into tangible joint projects, and the next meeting is scheduled in Egypt next year. Additionally, the Egyptian delegation visited Limassol Port to explore infrastructure, digitization, and green initiatives, and discussed future port cooperation opportunities.

Date : 20-10-2025

Tanker Struck by Projectile in Gulf of Aden as Shipping Threat Resurfaces.

• A Cameroon-flagged LPG tanker, Falcon, issued a distress call near Yemen on October 18 following an explosion and fire, with approximately 15% of the vessel engulfed. The ship, now abandoned and drifting, is suspected to have been hit by a projectile, though the exact cause remains unclear.
• A search and rescue operation is underway, coordinated by EUNAVFOR Aspides, involving Greek and French assets.
• The crew of 26 abandoned the ship; 24 have been rescued, but one crew member remains aboard the burning vessel, and one is missing. The incident occurred in the Gulf of Aden, raising suspicions of a possible attack, although no group has claimed responsibility.
• The vessel has a history of safety deficiencies and has previously carried Iranian products. Authorities continue to monitor the situation and aid efforts.

Date : 18-10-2025

Admiral Rabiee oversees the signing of a contract between Misr Tugboats Factory and NERI Group of Italy for two 90-ton bollard-pull tugboats, marking Egypt's first step in maritime exports.

• Admiral Rabiee highlighted that the contract between Misr Tugboats Factory and NERI Group of Italy marks a significant milestone, showcasing trust and the success of Egypt's efforts to localize maritime industries.
• This export activity restores the leadership of Egyptian shipyards and aligns with President El-Sisi’s directives to promote private sector partnerships and exports. The agreement involves the sale of two 90-ton bollard-pull tugboats, with deliveries scheduled for early next year. The Chairman of the Suez Canal Authority emphasized that this achievement enhances the international reputation of Egypt’s maritime sector and opens opportunities for future cooperation. The Italian NERI Group, established in 1895, expressed optimism about ongoing and future collaborations, signaling a new chapter of joint maritime projects.

Date : 18-10-2025

Urgent Alert: Increased Piracy and Robbery Incidents in 2025 Prompt Call for Vigilance.

• The merchant shipping industry continues to face piracy and armed robbery threats, but recent progress includes the arrest of two gangs near the Singapore Strait. Despite a slight rise in incidents in 2025, overall global piracy levels remain lower than in previous years. Between January and September, there were 116 reported incidents, the highest since 2021, with many involving vessel boardings, weapons, and gunfire. The Singapore Straits remains a hotspot, with 73 incidents—the highest since 1991—prompting increased law enforcement efforts, including arrests that have led to a notable decline in activity.
• The Gulf of Guinea reports low incident numbers but remains risky, with ongoing crew kidnappings. Improved surveillance off Somalia and the Gulf of Aden has resulted in no incidents in recent months, though vigilance remains critical.
• Industry leaders emphasize the importance of continued vigilance and reporting to combat piracy effectively.

Date : 18-10-2025

Shipowners Take Action to Sidestep U.S. and Chinese Port Fees.

• Shipowners are beginning to disclose strategies to avoid U.S. and Chinese port fees introduced this week, focusing on ships built, owned, or operated by companies in those countries.
• The industry faces uncertainties regarding program interpretations, especially around ownership.Some companies are considering structural changes, fleet redeployment, and shifting vessel registrations. For example, Pacific Basin Shipping is expanding its Singapore operations, transferring vessels to Singapore registry, and deploying only ships registered there to U.S. ports. Similarly, Seaspan is restructuring by moving many ships to Singapore. The cruise sector, like Norwegian Cruise Line's Riviera, is also diverting ships to avoid additional fees.
• Overall, owners are taking proactive steps to mitigate exposure amid evolving geopolitical and regulatory challenges.

Date : 17-10-2025

China Port Fees Rise, Increasing Oil Tanker Costs and Disrupting the Market.

• China’s retaliatory port fees, introduced in response to U.S. measures, are imposing significant costs on oil shipping companies, leading to delays, cancellations, and rising freight rates. The fees, which can exceed $6 million per voyage for supertankers to China, have prompted shipowners to reassess their ownership structures and restrict certain routes, especially those linked to U.S. entities. A two-tier market is emerging, with ships willing to sail to China commanding higher premiums, while others seek alternative arrangements like mid-voyage cargo transfers.
• The measures have caused congestion at Chinese ports and increased uncertainty about ship compliance, driving up freight costs industry-wide. Specifically, VLCC chartering costs from the Middle East to China have surged by 49% since the announcement.
• Overall, the new levies are disrupting Asian oil trade and significantly impacting the global oil shipping market.

Date : 17-10-2025

Container Rates End 17-Week Decline as Carriers Promote Rate Hikes.

The Drewry World Container Index rose 2% to $1,687 per 40ft container, ending 17 weeks of decline. Spot rates from Shanghai to Los Angeles and New York increased by 1%, with further hikes expected next week due to recent General Rate Increases, though these gains may be short-lived. On the Asia–Europe route, rates from Shanghai to Rotterdam and Genoa also saw modest rises following recent carrier rate hikes aimed at reversing a post-Golden Week slump. However, Drewry forecasts that supply-demand imbalances will weaken in the coming quarters, likely leading to a decline in spot rates.

Date : 16-10-2025

Washington Attempts to Undermine IMO Climate Initiative with Last-Minute Regulatory Amendment.

The US proposed a change at the IMO meeting in London to require "explicit acceptance" for new vessel emission rules, instead of the usual "tacit acceptance," potentially making it harder for the regulations to be adopted. Washington opposes the regulations, viewing them as a "global carbon tax," and has threatened retaliatory measures. The IMO is reviewing the US proposal, which aims to add hurdles to implementing the climate rules.

Date : 16-10-2025

Trump Urges Countries to 'Vote No' on Shipping's Carbon Tax at IMO.

President Donald Trump has strongly opposed the proposed global carbon tax on shipping being considered by the International Maritime Organization (IMO), warning of potential economic retaliation. He condemned the measure as a "Global Green New Scam Tax" and urged nations to vote against it in London. The upcoming IMO session aims to adopt the Net-Zero Framework, which includes stricter fuel standards and a carbon pricing system to fund low-carbon initiatives.

Date : 16-10-2025

Over the course of three weeks, Alexandria Port welcomed 14,000 passengers aboard the Norwegian Viva cruise ship.

• As part of ongoing tourism promotion efforts, Alexandria Port welcomed the cruise ship Norwegian Viva on October 13, 2025, following directives from national leadership.
• The ship, coming from Limassol, Cyprus, carried 4,674 passengers, including 3,203 tourists, and is scheduled to depart for Heraklion, Greece, the next day.
• This was the third visit of the Norwegian Viva to Alexandria in approximately three weeks, bringing the total passengers to 13,898. The port authorities, along with various government officials, ensured the ship's safe docking, smooth passenger procedures, and a warm welcome, including souvenirs to promote maritime tourism and enhance visitor experience.

Date : 14-10-2025

Adm. Rabiee observes the launch of the AZM 3 and AZM 4 tugboats, each with a bollard-pull capacity of 90 tons, during his visit to the Misr Tugboats Factory.

• Adm. Rabiee highlighted that Misr Tugboats Factory marks a new chapter in Egypt’s maritime industry localization, with ongoing efforts to meet production targets rapidly. The factory, part of major infrastructure developments at South Red Sea Shipyard, is producing tugboats— including AZM 3 and AZM 4, which are scheduled for delivery by year’s end—and is exploring export opportunities due to successful marketing under the "Made in Egypt" slogan.
• These initiatives support national goals to modernize Egypt’s maritime fleet, including building 10 tugboats and 12 high-seas fishing vessels. The shipyard has achieved significant progress through increased operations and staffing, with ongoing expansions like new facilities and infrastructure.
• Rabiee commended the workforce’s efforts, emphasizing the shipyard’s role in advancing Egypt’s maritime industries under President Sisi’s directives.

Date : 08-10-2025

The Shipping Industry gathers in Dammam for the Saudi Maritime & Logistics Congress 2025.

• During the opening of the 6th Saudi Maritime & Logistics Congress in Dammam, H.E. Minister of Transport and Logistic Services, Eng. Saleh bin Nasser Al-Jasser, highlighted Saudi Arabia’s remarkable growth and regional leadership in maritime and logistics sectors, driven by Vision 2030.
• The event was attended by dignitaries including Prince Saud bin Naif Al Saud.His Excellency highlighted that Saudi Arabia leads the region in maritime tonnage, with a 30% fleet growth this year, totaling 427 vessels and over 11 million tons. The country employs over 2,350 seafarers, marking an 11% increase through 2024, making it one of the top 20 global maritime fleets and among the top ten in shipping efficiency.
• Saudi Arabia also hosts more than ten major ports with a combined capacity over 1.1 billion tons, establishing itself as a vital hub in international supply chains and global logistics. The two-day event will feature high-level discussions on industry challenges, solutions, and investments to promote sustainable growth.

Date : 04-10-2025

Few months left until the completion of the Tahya Misr 2 Multi-Purpose Station Project.

• The Egyptian Transport Ministry released modern aerial photos of the Tahia Misr2 multipurpose terminal project at Dekheila’s berth 100.
• This major national project aims to boost Egypt’s international trade and logistics capabilities.
• Covering approximately 840,000 square meters, the project features an advanced international container terminal on a 1,200-meter section of berth 100 (out of a total 1,680 meters), with a depth of 18 meters.
• It can accommodate large vessels up to 400 meters long and with a capacity of 24,000 containers.

Date : 27-09-2025

Alexandria Port welcomes two massive cruise ships, accommodating over 8,100 passengers and tourists.

• The Egyptian Transport Ministry released modern aerial photos of the Tahia Misr2 multipurpose terminal project at Dekheila’s berth 100.
• This major national project aims to boost Egypt’s international trade and logistics capabilities.
• Covering approximately 840,000 square meters, the project features an advanced international container terminal on a 1,200-meter section of berth 100 (out of a total 1,680 meters), with a depth of 18 meters.
• It can accommodate large vessels up to 400 meters long and with a capacity of 24,000 containers.

Date : 25-09-2025

Egypt’s First Finished-Vehicle Logistics Terminal Opens

The Suez Canal Automotive Terminal (SCAT), a joint venture between NYK, Africa Global Logistics, and Toyota Tsusho, has opened Egypt's first finished-vehicle logistics terminal. This development responds to Egypt's growing automobile market driven by population and economic growth, with plans for increased vehicle imports and exports. The terminal features a quay for two large car carriers and storage for up to 10,000 vehicles, supporting the country's expanding vehicle trade and cargo transshipment needs.

Date : 22-09-2025

In the first half of the year, Shanghai continues to hold its position as the world’s busiest container port.

In the first half of the year, Shanghai Port handled 27.065 million TEUs, up 6.1% year-on-year, with Yangshan contributing 14.056 million TEUs, a 7.5% increase. Cargo throughput reached 297 million tons, a 1.2% rise, though bulk and general cargo volumes declined by 8.9%. Shanghai International Port Group reported operating revenue of RMB 19.569 billion and a net profit of RMB 8.04 billion.

Date : 20-09-2025

Chief Engineer Pleads Guilty in the 2024 MSC Runaway Incident in Charleston

The chief engineer of the MSC Michigan VII in June 2024 pleaded guilty in a U.S. District Court after a runaway incident in Charleston. The incident occurred when the vessel's main engine failed on June 5, leading to uncontrolled speeds of 16-17 knots—more than twice the legal limit. Court documents revealed numerous pre-existing issues on the ship that the crew was managing prior to the engine failure.

Date : 19-09-2025

The Suez Canal sees the passage of the massive cruise ship AROYA, carrying 2,300 tourists onboard.

• Adm. Ossama Rabiee, Chairman of the Suez Canal Authority, announced that the mega cruise ship AROYA made its third transit through the canal in less than a year, traveling from Istanbul to Jeddah. The ship, carrying 2,300 tourists and 1,500 crew members, is scheduled to visit Sharm El-Sheikh. AROYA, under the Marshall Islands flag, is 335 meters long and can carry over 3,300 passengers.
• Rabiee highlighted that the ship’s repeated transits demonstrate increasing confidence in the canal’s capacity to host large cruise ships.
• The Suez Canal has successfully attracted 69 cruise ships between 2021 and 2024, generating around $15.8 million in revenue, supported by flexible marketing policies and incentives aimed at boosting maritime tourism amid expectations of significant growth in the global cruise market.

Date : 18-09-2025

Iranian Oil Exports to China Resume Growing

Iran's crude oil exports to China declined from March to May but have rebounded from June to August, with August unloading volumes reaching 1.68 million barrels per day—over 20% higher than July and above the 2025 average. Despite this upward trend, Iran's revenues may not be increasing, as falling global crude prices and the need to offer discounts of around $5 per barrel to Chinese buyers—due to ongoing US sanctions and supply-demand imbalances—limit profitability.

Date : 18-09-2025

PSA Opens Mumbai Phase Two Terminal

PSA Mumbai has inaugurated its $1.3 billion Phase Two terminal expansion, adding 2,000 meters of quay and doubling handling capacity to 4.8 million TEUs. PSA Group CEO Ong Kim Pong highlighted that the expansion enhances capacity, connectivity, and sustainability, supporting India’s trade goals. The development also introduces rail connectivity with six dedicated freight corridors from Jawaharlal Nehru Port to over 63 inland depots, enabling double-stacked trains for efficient inland distribution.

Date : 10-09-2025