shipping
Gianluigi Aponte (MSC) joins the club of the 100 richest men in the world
In just 365 days, Aponte earned $ 8.24 billion
Commodities disruption
Why Indonesia's palm oil export ban has not cooled cooking oil prices / FOCUS
Jakarta - Indonesia, the world's biggest palm oil exporter, has since April 28 halted shipments of the edible oil in a bid to flood the domestic market with supplies to control the soaring prices of cooking oil
Iraq persuaded Lukoil to halt sale to Sinopec
Iraq balks at greater Chinese control of its oilfields
Iraq's oil ministry thwarted three prospective deals last year that would have handed Chinese firms more control over its oilfields and led to an exodus of international oil majors that Baghdad wants to invest in its creaking economy
CRUISES
MSC Grandiosa and the Norwegian fjords, a winning combination
Passengers who have already booked a trip on MSC Grandiosa are not only Europeans, but also North and South Americans
For reconstruction
Ethiopia, World Bank agree $300 mln grant
Ethiopia and the World Bank have signed a pact for a grant of $300 million to assist reconstruction and recovery in conflict-hit areas, the finance ministry said. Fighting that erupted in the northern region of Tigray in November 2020
War in Ukraine
Putin says large Russian grain harvest to support higher exports
Russia, one of the world's largest wheat exporters, will increase wheat exports this year due to a potentially record harvest, President Vladimir Putin said on Thursday. Russia competes with the European Union and Ukraine for supplies of wheat to the Middle East and Africa
The event
Fincantieri Marinette Marine cuts the ribbon on a new building for new Navy ships
Fincantieri Marinette Marine cut the ribbon on a new building Thursday. Building 34 is where pieces constructed by workers in Marinette and the company’s Sturgeon Bay location, Fincantieri Bay Shipbuilding, will be assembled into the newest Navy ship ships
Between Hapag Lloyd and Contship
Damietta Alliance developing and operating a new container terminal
Damietta - A new terminal will be built in the port of Damietta, Egypt. For this purpose, a Joint Venture was founded to develop and operate the new “Terminal 2” in the port. The Joint Venture Damietta Alliance Container Terminal consists of three core shareholders
New sources
Lebanon issues 11 licences for small-scale solar power projects
Beirut - The Lebanese government has issued licences to 11 companies to construct solar power plants capable of producing 15 megawatts each, energy minister Walid Fayyad said on Thursday. The companies would have a year to secure funding
In a U-turn
IEA sees world weathering lost Russian oil supply
The world will not be left short of oil even with lower output from sanctions-hit Russia, the International Energy Agency (IEA) said on Thursday, in a U-turn after it predicted a possible "global supply shock" in March
War in Ukraine
Russia’s isolation deepens as shipping lines make final port calls
Russia’s ocean container imports continue to collapse as shipping lines wind down the last remnants of their services to the country’s ports. Russia - now effectively a pariah within Western logistics circles - still has cargo import options
War in Ukraine
Gazprom Germania subsidiaries getting no Russian gas
Germany's economy ministry will provide details on alternatives to some Russian gas import volumes later on Thursday, Economy Minister Robert Habeck said, after subsidiaries of a large player, state-supervised Gazprom Germania, have become subject to Russian sanctions
After Kiev shuts route
Russian gas to Europe via Ukraine falls by a quarter
Russian gas flows to Europe via Ukraine fell by a quarter on Wednesday after Kiev halted use of a major transit route blaming interference by occupying Russian forces, the first time exports via Ukraine have been disrupted since the conflict began
ADVERTORIAL
Vanguard, strong investments in the three-year period 2022-2025
"Among the essential points of Vanguard Logistics' 2022-2025 Global Strategy there are the continuous expansion of our proprietary Network, through acquisition processes (two years ago opened in Sri Lanka, in 2020 we took over the Canadian agent and inaugurated, in 2022, Vanguard Logistics Poland) and the enhancement of this network through the synergistic use of adjacent Countries, as in the case of Italy, France and Spain" - says south Europe general manager Alberto Accetta
The report
Soaring food, fuel ramp up social unrest risk for emerging markets
Rising fuel and food prices look set to stoke an "inevitable" rise in civil unrest, with developing middle-income countries such as Brazil or Egypt particularly at risk, a report by a risk consultancy said. Three quarters of nations expected to be at high-risk or extreme risk of civil unrest
In April
As Black Sea supplies fall, India sells record 1.4 mln tonnes wheat
India exported a record 1.4 million tonnes of wheat in April, four trade sources said, providing some relief to grain markets as buyers scramble for alternatives to Black Sea supplies hit hard by the war in Ukraine
From June
Bulgaria to receive U.S. LNG deliveries
Bulgaria will receive U.S. liquefied natural gas (LNG) supplies from June to help it after Russia's Gazprom cut off gas deliveries, the government said on Wednesday. The arrangement was agreed at a meeting between Prime Minister Kiril Petkov and U.S. Vice President Kamala Harris in Washington
Despite sanctions
Ship loaded with Russian coal docks in Spanish port of Gijon
A Maltese-flagged ship carrying Russian coal and petroleum coke has docked in the northern Spanish port of Gijon, port authorities said on Monday. Another Maltese-flagged ship, loaded with Russian crude, docked in Cartagena, southern Spain, on Friday, authorities confirmed
Energy diversification
Portugal set to start up Europe's largest floating solar park
Two tugboats have moved a vast array of 12,000 solar panels, the size of four soccer pitches, to their mooring on Portugal's Alqueva reservoir in preparation to start up Europe's largest floating solar park in July
Government study shows
China's sea levels touched new high in 2021
China's sea levels reached their highest on record last year, swelled by rising water temperatures and the melting of glaciers and polar icecaps, the government said in a report. Coastal sea levels were 84 millimeters (3.3 inches) higher in 2021 than the average over the period from 1993 to 2011
S.Korean tungsten mine gets $100 million makeover
South Korea hunts tungsten treasure in race for rare minerals
Blue tungsten winking from the walls of abandoned mine shafts, in a town that's seen better days, could be a catalyst for South Korea's bid to break China's dominance of critical minerals and stake its claim to the raw materials of the future
