shipping industry
14 stories related to this topic, newest first.
upi.comSouth Korea Oceans Ministry Advances Plans for Southeastern Maritime Hub
The Ministry of Oceans and Fisheries is relocating operations to Busan and supporting corporate moves to the region. Officials cited preparation for expanded Arctic shipping routes and record seafood exports in 2025.
Al-MonitorMiddle East Conflicts Increase Ship Strike Risks for Whales off South Africa
Rerouting of vessels around the Cape of Good Hope since late 2023 has substantially raised the chances of collisions with whales in key habitats along South Africa's coast, according to new research presented to the International Whaling Commission. Average daily commercial vesse…
theconversation.comPilot Whales Increase Call Volume to Overcome Shipping Noise in Strait of Gibraltar
Researchers recorded calls from 23 long-finned pilot whales in the Strait of Gibraltar and found the animals raise the volume of some vocalizations in response to vessel noise ranging from 79 to 144 decibels. The study, published May 7 2026 in the Journal of Experimental Biology,…
koreaherald.comSouth Korean Team Says External Strike Caused Explosion on HMM Cargo Ship in Strait of Hormuz
A seven-member South Korean government investigation team determined that an external strike triggered the explosion and fire aboard the Panama-flagged vessel Namu on May 4, 2026. The ship, operated by HMM Co., was anchored off the United Arab Emirates and has been stranded amid…
koreaherald.comSouth Korean Team Continues Investigation Into Fire on HMM Cargo Ship in Strait of Hormuz
A South Korean government investigation team continued its review Saturday into the cause of a fire on the HMM Namu, a Panama-flagged cargo ship operated by South Korean shipping firm HMM. The vessel arrived at a Dubai shipyard Friday after the fire occurred Monday while it was s…
nbcnews.comMaersk CEO Says Iran War Adds $500 Million in Monthly Shipping Costs
The chief executive of the company that ships 14% of global containerized goods reported that the conflict has increased the firm's energy expenses by $500 million per month. One vessel crossed the Strait of Hormuz under U.S. military protection while six others remain stranded i…
finance.yahoo.comHMM Shareholders Approve Moving Headquarters from Seoul to Busan
South Korea's largest shipping company, HMM Co., secured shareholder approval Thursday to move its headquarters to Busan. The decision follows an agreement with its labor union and aligns with government efforts to develop the port city as a maritime hub. President Lee Jae Myung…
Los Angeles TimesU.S. Completes Initial Escort of Ships Through Strait of Hormuz
President Donald Trump launched and then halted a U.S. escort operation for vessels leaving the Persian Gulf as a CMA CGM container ship was damaged in an attack and U.S. forces disabled an Iranian tanker attempting to breach the naval blockade.
BBC NewsShell Q1 Profit Falls 35% to $6.75 Billion
Shell's first-quarter earnings more than doubled from the prior period amid elevated oil prices from the US-Israel war with Iran, even as it trimmed share buybacks. Global stock indexes climbed following reports of a potential one-page agreement to end the conflict, though Presid…
tass.comSouth Korean President Briefed on Blast Aboard HMM-Operated Ship in Strait of Hormuz
The president received a briefing on a blast and fire aboard a South Korean-operated vessel anchored off the United Arab Emirates. Officials reported no injuries and said the ship will be towed to a nearby port for damage assessment. The briefing also covered a U.S. decision to s…
deccanchronicle.comTanker Traffic Around Cape of Good Hope Surges 71% Above Average Amid Regional Conflict Detours
Shipping companies have abandoned plans to resume using the Suez Canal amid the ongoing Iran conflict, leading to record tanker traffic around Africa's Cape of Good Hope. The alternative route adds at least two weeks to Asia-Europe voyages, with port arrivals up significantly sin…
manilatimes.netShipping Officials Report Strait of Hormuz Volatility from US Blockade
Shipping officials stated that the US blockade of the Strait of Hormuz has increased volatility in the area. They noted that Iran is intensifying efforts to maintain the strait's closure. This development occurs amid ongoing tensions in the region.
Substrate placeholder — needs reviewShipping Groups Warn Strait of Hormuz Remains Unsafe Despite Reopening Claims
Major maritime organizations have advised caution for vessels in the Strait of Hormuz, citing ongoing safety concerns. BIMCO stated the area is not safe due to unclear mine risks and recommended avoiding it. The UK Maritime Trade Operations also urged similar precautions.
apnews.comCargo Ship Purchase Costs $46 Million with Potential Revenue of $1.7 Million Monthly
A cargo ship priced at $46 million can generate revenue through freight hauling. Calculations show earnings of $11 per ton for a 100,000-ton ship carrying 78,000 tons per voyage. With two voyages per month, gross revenue reaches $1.7 million.