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....
For Latest Updates: Modern Express Adrift in Bay of Biscay
Thursday: The Panamanian-flagged car carrier Modern Express continues to drift eastward in the Bay of Biscay as salvors assess options for saving the stricken ship.
On Thursday, the Modern Express was located approximately 168 nautical miles west of La Rochelle, France and drifting eastward at a rate of about 1.3 knots.
A salvage team from SMIT salvage arrived early Thursday along with the French Navy frigate Primauguet carrying a Lynx helicopter. Two Spanish tugs hired by the shipowner have also joined the frigate and the emergency tug Abeille Bourbon, which has been on scene since Wednesday, in the area.
In Pictures: The Amazing Race to Save the Modern Express
According to France’s Maritime Prefect Atlantic, the vessel’s list has stabilized and the ship is now showing no signs of water ingress.
Weather has prevented salvors from boarding the car carrier to prepare it for possible towing. Salvors are still trying to determine the best course of action for saving the vessel.
gCaptain Full Coverage: Modern Express Adrift in Bay of Biscay
As gCaptain has reported, two Spanish search and rescue helicopters evacuated all 22 crew members from the Modern Express on Tuesday after the ship developed a severe list while underway in the Bay of Biscay on a voyage from the country of Gabon to Le Havre, France. The roll-on/roll-off car carrier is carrying 3,600 tons of timber and construction equipment, according to the Maritime Prefect Altantic.
Photos from Thursday (video at bottom):
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