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Maritime News

Container Shipping Rates Plunge in Step with U.S. Demand for China Goods

yesterday

Rates for shipping cargo containers from China to the U.S. have dropped by more than half since earlier this month, as imports rebounded less than expected after the slump that followed President Donald Trump slapping 145% tariffs on China.Trump quickly reversed course by lowering the rate to 30%. That cost increase on goods from the nation's No. 1 ocean trading partner remains significant, especially at a time when U.S. economic data is signaling weakness.Rates on the closely watched Shanghai-to-U.S.

Fincantieri Delivers Cruise Ship Viking Vesta

2 days ago

Viking Vesta, the second of a new series of cruise ships that Fincantieri is building for the shipowner Viking, was delivered today at the Ancona shipyard.The ceremony was attended by Torstein Hagen, Chairman and CEO of Viking, and Luigi Matarazzo, General Manager of the Merchant Ships Business Unit of Fincantieri.The vessel belongs to the segment of small cruise ships. With a gross tonnage of approximately 54,300 tons, Viking Vesta has 499 cabins and can accommodate 998 passengers on board. The vessel is the 14th ship delivered by Fincantieri to Viking, including the two expedition units built by the Norwegian subsidiary Vard.

Ships to the Scrapyard Could Double to 16,000 Vessels over Next Decade

2 days ago

“As the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships (Hong Kong Convention) enters into force we have updated our estimate for the ship recycling potential over the next 10 years. We now estimate the potential to be 16,000 ships, or 700m deadweight tonnes (DWT), from previously 15,000. The new estimate equals twice the number of ships, and nearly triple the DWT, recycled over the last 10 years and highlights the need for investments in compliant recycling facilities,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.

Trump Wants More Drones and Missiles, Fewer Ships

2 days ago

U.S. President Donald Trump wants a pay raise for troops, more high-tech missiles and drones in next year's defense budget, while cutting Navy jobs, and buying fewer ships and fighter jets to save money, according to budget materials posted Wednesday.At $892.6 billion, the defense and national security budget request is flat compared with this year.The budget, which also includes nuclear weapons-related activities carried out by the Department of Energy and increases funding for homeland security, puts Trump's mark on the military by pulling funds away from weaponry and services to fund his priorities.

First Russian-Built Ice-Class LNG Tanker to Enter Operations This Year

3 days ago

The first Russian-built ice-class tanker for liquefied natural gas is expected to go into operation in the second half of this year at the Arctic LNG 2 plant, Interfax news agency quoted tanker group Sovcomflot as saying on Wednesday.International sanctions over Ukraine have led to a shortage of tankers in Russia that can cut through thick ice, preventing Arctic LNG 2 from exporting cargo since the first stage of the plant started operation at the end of 2023.The tanker, named Alexey Kosygin after a Soviet statesman, was built at the Zvezda shipyard and is due to join the fleet of vessels for the Arctic LNG 2 plant.The tanker, already under U.S.

Maritime Reporter and Engineering News (June 2025)

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Maritime News

Container Shipping Rates Plunge in Step with U.S. Demand for China Goods

Fincantieri Delivers Cruise Ship Viking Vesta

Ships to the Scrapyard Could Double to 16,000 Vessels over Next Decade

Trump Wants More Drones and Missiles, Fewer Ships

First Russian-Built Ice-Class LNG Tanker to Enter Operations This Year