High Shipping Costs Are Here to Stay, Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
A video posted online shows the moment the Hong Kong-flagged tanker Tian E Zuo had its hull punctured by a floating crane in Iraq.
The incident reportedly occurred Friday at the port of Khor al Zubayr. As you can see, it looks like the impact breached a ballast tank, causing water to gush from the vessel.
We understand it was the floating crane that broke loose and crashed into the moored vessel just hard enough to pierce the hull of the tanker.
AIS ship tracking data showed the MT Tian E Zuo at anchor near Sharjah, United Arab Emirates as of Monday.
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