Shipping

The Baltic Exchange has issued its report for the last week 16-20 June to provide information of the bulk market performance.

Kubota Hideo, Secretary, Tokyo MOU Secretariat, highlights key findings from the recent annual report and explains why PSC Officers prioritize checking fire safety equipment and life-saving appliances during inspections. He encourages operators to foster a stronger safety and environmental protection culture.

X-Press Feeders Group signed on 18 June two agreements with COSCO SHIPPING Lines, for expanding network coverage, strengthen mainline-feeder coordination and improve service reliability.

The ongoing conflict between Israel and Iran has significantly increased insurance costs for ships navigating the Red Sea and Persian Gulf, reflecting growing concerns over maritime security in the region.

On 18 June, the Suez Canal marked a major milestone with the successful southbound transit of the CMA CGM OSIRIS, a French container ship weighing 154,000 tons.

Israel has jeopardized maritime safety by attacking Iranian energy infrastructure along the Persian Gulf coastline, a senior Iranian official stated on 18 June.

RINA has acquired the entire share capital of Foreship, a renowned Finnish company specialising in naval architecture and marine engineering, from Vaaka Partners and company’s managers.

According to Intermodal, escalating tensions in the Middle East have renewed focus on the Strait of Hormuz as a strategic chokepoint, heightening concerns over potential disruptions to global oil flows.

On 17 June, Canadian Foreign Affairs Minister Anita Anand announced a major expansion of sanctions against Russia, targeting "shadow fleet" vessels. 

On 18 June, the Australian Government announced targeted sanctions on 60 vessels linked to Russia’s shadow fleet, marking the first time Australia has imposed such sanctions.