Mr. Arun Sharma, Executive Chairman of Indian Register of Shipping (IRS) and member National Shipping Board, highlighted the critical role of classification societies in supporting India’s shipbuilding ambitions during a panel discussion at the Sagar Sankalp – Reclaiming India’s Maritime Glory Conclave, organised...
In light of the security concerns in the Persian Gulf, Gulf of Oman, Indian Ocean, Gulf of Aden and Southern Red Sea, BIMCO, the international shipping association representing shipowners, is encouraging members to undertake a careful review of their existing and future charter party terms.BIMCO members cover two-thirds of the world...
Pacific Basin Shipping Limited, one of the world’s leading dry bulk shipping companies, has announced the results of the Company and its subsidiaries for the year ended 31 December 2025.Mr. Martin Fruergaard, CEO of Pacific Basin, said, “In 2025, we generated an underlying profit of US$59.2 million, a net profit of US...
ClassNK has issued approvals in principle (AiPs) for the concept designs of Bulk Carrier installed with a Membrane-based Onboard Carbon Capture and Storage System (OCCS) and 83,000m3 Ammonia Carrier with IMO Type B Independent Tank developed by Oshima Shipbuilding Co., Ltd. These AiPs demonstrate its feasibility from regulatory...
Maritime companies face rising sanctions and compliance complexity as regulators increasingly expect risks to be detected before violations occur, according to a new report published by Marcura.Marcura connects the critical workflows that keep global shipping moving, from port spend management and procurement to compliance and financial...
Algoma Central Corporation, a leading provider of marine transportation services, has announced it has entered into a definitive agreement to acquire Mainstay Maritime Inc.’s three Canadian operating companies and associated fleet of six Canadian-flagged vessels. Mainstay, formerly Rand Logistics, Inc., operates one of the...