Red Sea shipping remains risky despite the Gaza ceasefire and an announcement by Yemen’s Houthis to limit attacks, according to the CEO of Abu Dhabi National Oil Company’s logistics and shipping arm. Shipping executives remain cautious about a return to the Red Sea given the risk to seafarers, cargo and their assets. The Iran-backed Houthis have carried out… Read More
The company’s aim is to enable the storage of methanol at Blumensand and facilitate the import of low-carbon methanol to northern Germany. By investing in methanol storage capabilities, Mabanaft wants to support its customers’ transition towards greener alternatives. Mabanaft expects demand to grow in the future, both in shipping and other transport sectors, as well… Read More
The distressed trucking company filed for bankruptcy after defaulting on a factoring agreement. Financial distress in the trucking and logistics industry since the Covid-19 pandemic has brought on the Great Freight Recession, which resulted in shipping companies launching either out-of-court restructurings or bankruptcy filings. A combination of economic issues, such as negative effects caused by… Read More
Coast Guard Commandant Adm. Linda Fagan was ousted by the Trump administration Tuesday, on President Trump’s first full day in office. In 2022, Fagan became the first woman to lead a branch of the U.S. military. Fagan was relieved of her duties Monday night in a workforce-wide message by Acting Homeland Security Secretary Benjamin Huffman. “Under my… Read More
Corpus Christi, TX, USA – The Port of Corpus Christi and its customers moved 206.5 million tons through the Corpus Christi Ship Channel in 2024, a new high mark driven by increases in crude oil and dry bulk commodities, including agricultural products. Port customers also ended 2024 with record quarterly tonnage (54 million tons) in Q4… Read More