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Maritime News

Maersk VC co-leads Funding Round in Egyptian Freight Logistics Start Up

Maersk VC co-leads Funding Round in Egyptian Freight Logistics Start Up

21 minutes ago
Egyptian startup Trella, a digital platform connecting truckers with freight loads, has raised $42 million in equity and debt, including from the venture capital arm of shipping giant Maersk, its chief executive said.Founded three years ago in Cairo, Trella operates in Egypt, Saudi Arabia and Pakistan. It is one of several technology firms around the world seeking to upend traditional truck brokerages.Through Trella's online platform, shippers and truckers can directly book freight loads for transport. The mobile app also provides shippers with the ability to track the freight loads as they are transported.
As Iran Eyes Return to Oil Trading, Storage at Sea Rises

As Iran Eyes Return to Oil Trading, Storage at Sea Rises

32 minutes ago
Iran could quickly export millions of barrels of oil it is holding in storage if it reaches a deal with the United States on its nuclear program and has been moving oil into place to prepare for an eventual restart, four traders and industrial sources said.The U.S. and Iran began in mid-June their sixth round of indirect talks on reviving a 2015 nuclear deal that former U.S. President Donald Trump pulled out of in 2018. Trump reimposed sanctions on Iran’s energy sector, leading refiners in many countries to shun Iranian crude and forcing Tehran to pump well below capacity.
Chinese Regulators Eye Irregularities in Spot Iron Ore Trading

Chinese Regulators Eye Irregularities in Spot Iron Ore Trading

39 minutes ago
China's state planner, the National Development and Reform Commission (NDRC), said on Monday it and the market regulator are jointly looking into the iron ore spot market and have pledged to crack down on hoarding and speculation.The move comes after NDRC said on Thursday that new rules on the management of price indexes for commodities and services will be effective Aug. 1 and will standardise price index compilation and transparency of information.During a visit to the Beijing Iron Ore Trading Center Corporation (COREX), the NDRC and State Administration for Market Regulation surveyed iron ore transactions and price changes this year, the state planner said in a statement.
U.S. Coast Guard Welcomes New Vice Commandant

U.S. Coast Guard Welcomes New Vice Commandant

2 days ago
Adm. Linda L. Fagan has taken over as vice commandant of the U.S. Coast Guard, relieving  Adm. Charles W. Ray during a military change-of-command ceremony held Friday at U.S. Coast Guard Headquarters.Adm. Fagan most recently served as the commander of the Coast Guard Pacific Area, overseeing all Coast Guard operations in the Pacific, covering more than 74 million square miles of ocean, from the U.S. Western States to Asia, and from the Arctic to Antarctica.“Adm. Fagan, it is an honor to welcome you as the first woman to serve as a four-star admiral in the U.S. Coast Guard, and I congratulate you as you assume the duties as our 33rd Vice Commandant,” said Adm. Karl L. Schultz, Commandant, U.
$279m Royal Yacht a 'Good Idea'

$279m Royal Yacht a 'Good Idea'

16 minutes ago
The British government's plans to build a 200 million pound ($276.3 million) successor to the Royal Yacht Britannia, which was retired in 1997, are a good idea, Business Secretary Kwasi Kwarteng said on Monday."I think it is a good idea actually," Kwarteng told Sky, though he said there was still a discussion in government over the plans. "It's a huge amount of money.""What it does is it represents Britain - it is a symbol of Britain and if you are going on trade missions - that is exactly the way we would drive trade," he said.
Maritime Reporter and Engineering News (June 2021)
Maritime Reporter and Engineering News (June 2021)
USCG Fleet Modernization Annual