In 2007, total world oil production amounted to approximately 85 million barrels per day (bbl/d), and around one-half, or over 43 million bbl/d of oil was moved by tankers on fixed maritime routes. The international energy market is dependent upon reliable transport. The blockage of a chokepoint, even temporarily, can lead to substantial increases in total energy costs. In addition, chokepoints leave oil tankers vulnerable to theft from pirates, terrorist attacks, and political unrest in the form of wars or hostilities and shipping accidents which can lead to disastrous oil spills.
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German liner company Hapag-Lloyd is investing in JadeWeserPort Wilhelmshaven, Germany’s largest harbor project and only deep-water container port. Hapag-Lloyd will acquire a 30% stake in Container Terminal Wilhelmshaven (CTW) and...
A.P. Moller – Maersk has bought into a Silicon Valley-based electrofuels startup as the world’s leading ocean liner works to decarbonize its marine operations. The minority investment in Prometheus Fuels...
Cyprus has announced plans to vaccinate all seafarers, some 40,000 of them, on Cyprus-flagged and managed vessels. The plans were announced Friday in a circular by the Cyprus Shipping Deputy...
