Sri Lankan Supreme Court Orders $1 Billion Compensation for X-Press Pearl Environmental Disaster The Supreme Court of Sri Lanka has ordered the owners and affiliated parties of the X-Press Pearl container ship to pay $1 billion in compensation for the catastrophic environmental damage caused by the vessel’s sinking off the country’s western coast in 2021. The Singapore-registered X-Press Pearl, operated by X-Press Feeders, was carrying a container of leaking nitric
Category: Shipping News
U.S. Shipbuilding Revival Faces Challenges Amid White House Departure and LNG Project Shift
U.S. Shipbuilding Push Stumbles as Key White House Official Departs and Hanwha Eyes LNG Carrier Build U.S. President Donald Trump’s efforts to revitalize America’s commercial shipbuilding sector have hit a significant roadblock following the departure of Ian Bennitt, a senior official in the National Security Council overseeing maritime affairs. According to Seatrade Maritime, at least one of Bennitt’s deputies is also expected to leave the administration, raising questions about the
Indonesia Widens Pertamina Corruption Probe to Include Trafigura Employee and Domestic Shipping Company
Indonesia Expands $17.6 Billion Corruption Probe Into Pertamina, Trafigura Employee, and Shipping Firms Indonesia has expanded its high-profile corruption investigation into state energy giant Pertamina, now implicating a Trafigura employee and a local shipping company, as part of a broader probe covering activities from 2018 to 2023. The Attorney General’s Office (AGO) has named nine additional suspects in a case that has allegedly caused state losses totaling IDR 285 trillion
India Steps Up Maritime Accountability with Vessel Arrests and Compensation Orders Against MSC
India Cracks Down on Maritime Safety: MSC and Wan Hai Vessels Face Legal Action Indian authorities have intensified their legal response following recent maritime incidents involving MSC and Wan Hai Lines, signaling a stronger push for accountability, safety, and compensation in the country’s shipping sector. The latest development saw the Kerala High Court issue a conditional arrest order for the MV MSC Polo II, a sister ship of the ill-fated
Global Shipping Alliances and MSC Now Control Over 80% of Container Market
Shipping Industry Consolidates: Alliances and MSC Dominate 82% of Global Container Capacity in 2025 The global container shipping industry is becoming increasingly concentrated, with the latest figures showing that major shipping alliances, along with Mediterranean Shipping Company (MSC), now control over 80% of the world’s total container capacity. According to updated data from maritime consultancy Alphaliner, carriers affiliated with formal alliances hold a combined market share of 82.1%. While not
Transnet Makes History as MSC Nicola Mastro Becomes Largest Ship to Call at Ngqura Container Terminal
Ngqura Container Terminal to Welcome Its Largest-Ever Vessel, MSC Nicola Mastro Transnet Port Terminals (TPT) is set to mark a historic milestone this week with the arrival of the ultra-large container vessel MSC Nicola Mastro at the Ngqura Container Terminal (NCT), located in South Africa’s Eastern Cape. This event represents a significant step forward for both the terminal and the region. Measuring 400 metres in overall length and 61 metres
Container Losses Double in 2024 as Red Sea Crisis Forces Global Shipping to Riskier Cape Route
Cape Route Chaos: Surge in Containers Lost at Sea as Global Shipping Reroutes Around Africa Global shipping has entered a period of heightened operational risk, with the number of containers lost at sea more than doubling in 2024 compared to the previous year. New data from the World Shipping Council (WSC) and the South African Maritime Safety Authority (SAMSA) attributes the increase to a surge in vessels rerouting around the
Panama Canal Strengthens Fleet with Two New High-Performance Tugboats
Panama Canal Expands Fleet with Energy-Efficient Z-Tech Tugboats to Enhance Transit Safety and Efficiency As part of its ongoing strategy to boost operational efficiency and ensure safe, reliable, and competitive services, the Panama Canal has added two advanced tugboats to its fleet. Named Isla Carenero and Isla Parida, the new vessels each measure 27 meters in length and 12 meters in beam. These tugboats will play a vital role in
Greek ship sinks off Yemen after Houthi attack, crew being rescued, sources say
The Liberia-flagged, Greek-operated bulk carrier Eternity C has sunk after a Houthi attack off Yemen, four maritime security sources told Reuters on Wednesday, and efforts to rescue the crew were under way. Some of the crew were in lifejackets in the water and at least five people have been rescued so far, two of the sources said. Source: Reuters
Samsung Heavy Secures $637M Deal for New LNG Facility in Mozambique
South Korea’s Samsung Heavy Industries, the world’s fifth-largest shipbuilder according to Lloyd’s List, has secured a $637 million contract to construct a cutting-edge offshore liquefied natural gas (LNG) facility for a European client operating in Mozambique. The agreement, which marks another significant milestone in Africa’s growing LNG sector, involves the construction of a floating LNG (FLNG) platform to tap into Mozambique’s vast offshore gas reserves. The deal follows Samsung’s earlier