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Suez Canal file photo (c) Shutterstock/Oleksandr Kalinichenko

Egypt Busts Suez Terror Plot – Sources

  CAIRO, July 6 (Reuters) – Egyptian authorities have arrested 13 members of the Muslim Brotherhood on suspicion of planting bombs around the Suez Canal to disrupt shipping, security sources said on Monday. The waterway, the fastest shipping route between Europe and Asia, is a vital source of hard currency for Egypt, particularly since the […]

Photo: Shutterstock/Lledo

Shipping Industry Gloomiest Since 2009, Survey Finds

  By Bill Lehane (Bloomberg) — The shipping industry is the most pessimistic in six years about its prospects as a fleet surplus persists, according to a survey by law firm Norton Rose Fulbright. Two thirds of respondents working in the industry said they were pessimistic about its prospects, the most negative outlook since 2009, […]

Johan Sverdrup rendering. Photo: Statoil

Norway Baffles Analysts by Ceding 15 Million Barrels of Oil

By Mikael Holter (Bloomberg) — No one can accuse the Norwegian government of being greedy when it last week decided on the ownership stakes in the giant Johan Sverdrup oil discovery. After months of deliberation, the Petroleum and Energy Ministry’s decision meant it took away as much as 15 million barrels of oil from Petoro […]

Illustration showing the Singpore Navy's Independence-class Littoral Missing Vessel.

Singapore Launches First New Maritime Patrol Vessel as Regional Tensions Rise

  By Livia Yap and Sharon Chen (Bloomberg) — Singapore’s navy is preparing to take on more unconventional missions with a new fleet of patrol boats, as territorial tensions rise in the South China Sea and demands for search and rescue missions rise and in the aftermath of airplane disasters where Singapore took part in […]

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Photo (c) Shutterstock/chungking

Kenya’s Mombasa Port Sacks 27 Strike Leaders

By Joseph Akwiri MOMBASA, July 4 (Reuters) – East Africa’s biggest port in the Kenyan city of Mombasa said on Saturday it had dismissed 27 workers it believed were behind a strike this week that paralysed operations for two days and cost the port at least $2 million. Over 2,000 workers went on strike on […]

The MV YUAN SHI HAI, one of four Valemax ships sold to China Ore Shipping in May. Photo: Ian Edwards

China to Lift Ban of 400,000 DWT ‘Valemax’ Mega-Ships

  SHANGHAI, July 3 (Reuters) – China said on Friday it will allow 400,000-deadweight tonne ships to dock at its ports, officially ending a more than three-year ban that had effectively shut out Brazilian miner Vale SA’s giant vessels. Four domestic ports – Qingdao, Dalian, Tangshan Caofeidian and Ningbo – will be allowed to receive […]