Britain’s Ministry of Defence said on Sunday it would spend 405 million pounds ($514 million) to upgrade a missile system now being used by the Royal Navy to shoot down hostile drones over the Red Sea.The Sea Viper Air Defence system will be…
UK to Upgrade Warship Defence Missile System used in Red Sea Read More »
Ship traffic in Turkey’s Bosphorus Strait is set to resume for northbound vessels as of 1700 GMT on Sunday, after a suspension due to an anchor failure on one ship, the Tribeca shipping agency said.According to a report shared by the agency, the Liberi…
Ship Traffic Resumes in Bosphorus Strait After Incident Read More »
Russian energy company Novatek said on Sunday it had been forced to suspend some operations at a huge Baltic Sea fuel export terminal due to a fire started by what Ukrainian media said was a drone attack.The giant Ust-Luga complex, located on the Gulf …
Drone Attack: Russia Suspends Operations at Ust-Luga Read More »
The crude tanker trade out of the US Gulf benefitted significantly from the rise in US crude oil production, beyond any expectation during 2023. However, 2024 could be more challenging, limiting the market’s performance. In its latest weekly report, sh…
Tankers: The US Gulf Market Could Not Repeat 2023’s Performance Read More »
Capesize The capesize market experienced a varied week with distinct developments in both the Pacific and Atlantic regions. At the start of the week, a lacklustre trend prevailed as the Pacific faced downward pressure, resulting in a 20-cent decline on…
Dry Bulk Market Manages to Halt Losing Streak Read More »