End of Shipping Alliances Would Send Freight Rates Soaring

By Gavin van Marle in Rotterdam (The Loadstar) – Shipper opposition to deepsea liner shipping alliances may be dangerously misplaced, delegates at the TOC Container Supply Chain event in Rotterdam heard yesterday. Lars Jensen, chief executive and partner of SeaIntelligence Consulting, said efforts by some to bar container lines from operating in alliances, claiming they […]

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MSC Gayane Cocaine Seizure is One of the Largest on Record in U.S.

June 18 (Reuters) – Federal authorities seized 16.5 tons of cocaine worth more than $1 billion from a ship in Philadelphia in one of the largest drug seizures in U.S. history, the U.S. Justice Department said on Tuesday. Federal, state and local law enforcement agents on Monday boarded the MSC Gayane, a cargo ship docked […]

U.S. Navy Says Mine Fragments Suggest Iran Behind Gulf Tanker Attack

By Aziz El Yaakoubi FUJAIRAH, United Arab Emirates, June 19 (Reuters) – The United States sought on Wednesday to bolster its case for isolating Iran over its nuclear and regional activities by displaying limpet mine fragments it said came from a damaged oil tanker and saying the ordnance looked Iranian in origin. Iran has denied […]

Refiner Phillips 66 Enters U.S. Offshore Oil Export Race

By Collin Eaton HOUSTON, June 19 (Reuters) – U.S. oil refiner Phillips 66 is proposing a deepwater crude export terminal off the U.S. Gulf Coast, challenging at least eight other projects aiming to send U.S. shale oil to world markets, according to a memo and a source who asked not to be named. The project, […]

Authorities Find 16.5 Tons of Cocaine on Ship at Port of Philadelphia

Federal authorities have seized approximately 16.5 tons of cocaine from a ship at the Port of Philadelphia, the U.S. Attorney’s Office for the Eastern District of Pennsylvania tweeted Tuesday. The drugs were seized on a ship at the Packer Marine Terminal on the Delaware River. The U.S. Attorney’s office said the drug bust marks the […]

Banks With $100 Billion in Shipping Loans Get Strict on Climate

(Bloomberg) –A group of financiers with $100 billion of loans to shipowners are about to get stricter on the kinds of vessels they’ll finance as part of a drive to improve the maritime industry’s environmental performance. Eleven major financiers including Citigroup Inc. and Societe Generale SA are for the first time adopting a set of […]