Shipping

Gail and Vitol sign 10-year LNG supply contract

08 Jan 2024

Gail (India) Limited and Vitol Asia Pte Ltd on Friday announced the signing of a long term LNG supply contract, under which the Switzerland-based Dutch trading company will supply a million tonnes of LNG

COSCO halts shipments to Israel amid Red Sea disruptions

08 Jan 2024

In a recent development, Chinese shipping giant COSCO has decided to suspend its crucial shipping services to Israel, according to a report by the Israel financial news website, Globes, on Sunday, 7 January 2024.

Freight rates soar as shipping companies skip Red Sea lanes

07 Jan 2024

Shipping rates between Asia and the West have soared on reduced freight capacity as shipping companies change route amidst rising attacks on merchant ships in the Red Sea region.

Denmark's Maersk considers route options following an attack on a vessel

02 Jan 2024

Denmark’s shipping giant, Maersk, is set to decide on Tuesday, 2 January 2024, regarding the navigation of its vessels through the Suez Canal via the Red Sea.

India-bound merchant ship hit by drone strike In Arabian Sea

26 Dec 2023

An India-bound merchant ship was hit by a drone strike that caused an explosion and fire on the vessel in the Arabian Sea, off the Veraval cost, on Saturday. No casualties have been reported.

Govt to provide financial incentives to local shipbuilders

17 Dec 2023

The government has introduced a scheme to offer financial assistance for Indian shipyards for securing orders from domestic as well as overseas markets and to remain competitive in the market, union minister for ports, shipping and waterways, Sarbananda Sonowal informed the Lok Sabha in a written reply on Friday.

JSW gets mandate to develop Keni Port in Karnatakai

18 Nov 2023

The Rs4,119-crore Keni Port, which is designed to handle cape-size vessels, will have an initial capacity of 30 million tonnes and serve exporters in the North Karnataka region

The US pledges a $553 million investment in the Adani-owned Sri Lanka port to curb Chinese Influence

08 Nov 2023

In a strategic move aimed at countering China's influence in South Asia, the United States has pledged a substantial $553 million in financing for the development of a port terminal in Sri Lanka's capital, Colombo.