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The ReCAAP ISC alerts the maritime community on the occurrence of incidents of sea robbery onboard barges towed by tug boats while underway in the Straits of Malacca and Singapore (SOMS) during 16-17 March 2025. Three incidents of sea robbery were reported between 16–17 March 2025, onboard barges towed by tug boats while underway in the SOMS. Two incidents occurred onboard the same barge towed by the tug boat. The first incident occurred on 16 Mar, while the tug boat and barge were underway at the eastern approaches to the ...

Shipping companies must evaluate a range of compliance options under FuelEU Maritime that can have a significant financial impact if not managed properly. Continuous forecasting is essential for an effective compliance strategy in order to manage risk and costs arising from different operational and price scenarios with variable parameters, according to OceanScore. “The entry into force of FuelEU is once again transforming the way emissions data must be managed —often in ways not yet fully understood by the industry. This regulation is not merely about efficient processes and transparency; it ...

Brain health is no longer just a health issue — it’s an economic emergency. At this year’s World Economic Forum in Davos, brain health emerged as a top priority, with leaders recognizing its critical role in workforce productivity and economic stability. Efforts are now underway to make brain health a G7 priority, acknowledging it as a key driver of innovation and prosperity. The stakes are high. The McKinsey Health Institute estimates brain health disorders cost the global economy $5 trillion annually, likely to triple by 2030. These trends confirm that ...

The co-owners of a tanker involved in a collision with a cargo ship in the North Sea have released the first picture of some of the crew and praised their “exceptional bravery”. The Stena Immaculate and cargo ship Solong collided in the North Sea, off East Yorkshire, on 10 March, triggering an explosion and fires, which have been extinguished. One crew member of the Solong, a Filipino national, is missing and presumed dead. The Russian captain of the cargo vessel has been charged with gross negligence manslaughter. The Solong’s owners ...

Japan’s government stuck with its cautiously optimistic outlook for the economy U.S. President Donald Trump’s trade policies could dampen global growth and higher inflation could hurt consumer spending. The government maintained its view on the world’s fourth-largest economy, saying it is “recovering moderately” in its monthly report for March, citing strong corporate earnings and wage increases which policymakers hope will boost consumption. “There are U.S. trade policies which could have direct and indirect impact on Japan, so we highlighted them as risks to the economy,” said an official at the ...

Kaiko Systems, a leader in AI-driven frontline intelligence for the maritime industry, today announced a €6 million Series A funding round led by Hi inov and Flashpoint Venture Growth, with continued support from Motion Ventures. Thus, the total amount of external financing, taking into account the 2022 seed round, reached €9 million. The new funding round will accelerate Kaiko Systems’ expansion into new markets, advance product development to incorporate more extensive AI capabilities, and solidify its role in enhancing safety, compliance, and efficiency in asset-heavy industries. The importance of resilient ...

lomarlabs, the innovation arm of Lomar Shipping, has announced a strategic collaboration with Newlight, a technology company specialising in hybrid hydrogen-diesel engine retrofits, to accelerate the adoption of cost-effective, lower-emission solutions for the shipping industry. This collaboration will focus on retrofitting conventional diesel engines to operate on a hydrogen-diesel mix, reducing fuel consumption on average by 20% and significantly lowering greenhouse gas emissions. Savings of up to 30% have already been demonstrated in workshop trials and this new collaboration will seek to replicate this onboard vessels. As the maritime sector ...

Alfa Laval has signed its first contract for the ammonia fuel supply system, FCM Ammonia, reinforcing its position as a frontrunner in developing solutions for decarbonizing the maritime industry. The FCM Ammonia will be installed onboard seven LPG/ammonia carriers for Tianjin Southwest Maritime. Ammonia-powered shipping becoming a reality As a front-runner in enabling the use of ammonia, Alfa Laval has achieved a significant milestone by securing the contract for the ammonia fuel supply system, highlighting its technological readiness to handle ammonia as fuel. The FCM Ammonia will be installed on ...

Germany-based corrosion specialist Steelpaint is calling for urgent action to address the significant environmental impact of steel corrosion, warning that inadequate corrosion protection is contributing more to global CO2 emissions than the entire aviation industry. With the maritime industries consuming an estimated 100 million tonnes of steel annually, premature corrosion and subsequent steel renewal work is increasing carbon emissions dramatically, said Steelpaint’s Managing Director Klaus Müller. “Addressing this issue through effective steel protection is an economical and environmental imperative. Every premature steel asset failure triggers a replacement cycle that indirectly ...

The Bank of Japan kept interest rates steady on Wednesday and warned of heightening global economic uncertainty, suggesting the timing of further rate hikes will depend largely on the fallout from potentially higher U.S. tariffs. But Governor Kazuo Ueda also said rising food costs and stronger-than-expected wage growth could push up underlying inflation, highlighting the central bank’s attention to mounting domestic price pressures. “Japan’s wage and price conditions are on track, possibly stronger than expected. But the uncertain U.S. and global outlook makes it difficult to assess the potential impact ...

China’s gasoline exports in February fell to their lowest level since August 2012, customs data showed on Tuesday, on lower refinery production and slimmer profit margins. While gasoline exports led the decline, falling 73% on the year to 200,000 metric tons (1.69 million barrels) in February, exports of diesel and aviation fuel also weakened, the data from the General Administration of Customs showed. “China’s gasoline exports in February were limited by lower production — particularly from teapot refiners — and strong domestic demand during the Spring Festival travel season,” said ...

Chicago wheat futures were slightly higher on Wednesday boosted by sluggish exports from Russia and potential damage to U.S. crops while corn and soybean prices were little changed. Dealers said the current slow pace of Russian wheat exports had more to do with a strong rouble and adverse weather at ports than conflict in the Black Sea region so there was little impact from news that Russian President Vladimir Putin had agreed to temporarily stop attacking Ukrainian energy facilities. “There is some good news on the war front but it ...

Advanced Polymer Coatings (APC), the Ohio, USA-based manufacturer of protective tank coatings for chemical and product tankers, today announced the appointment of a dynamic new Global Technical Services Manager. As APC’s business expands globally, Daniel Liu will work with the company’s senior leadership, regional managers, and industry partners to drive innovation, ensure consistency in technical practices, and uphold APC’s high standards around the world. “Daniel brings deep technical knowledge and the ability to build strong relationships and solve tough problems,” said Captain Onur Yildirim, APC Global Marine Manager. “I’m confident ...

The influx of rice cultivated, processed, and packaged in Asian countries for direct sale to European consumers poses a significant threat to the EU rice industry. Against this backdrop, Platts talked to Pietro Milani, Director of the Association of Italian Rice Industries to gain his insights. Rice prices in Europe are rising amid unfavorable weather during the last season which affected the harvest. Indica and Arborio white rice prices in Italy surged by 5% and 42%, respectively, year over year. Platts, part of S&P Global Commodity Insights, assessed Indica 5% ...

Malaysian palm oil closed up on Wednesday after Indonesia’s reaffirmation to raise its palm oil export levy, although Malaysia’s weaker production data has capped gains. The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange gained 22 ringgit, or 0.5%, to 4,388 ringgit ($990.07) a metric ton at the close. “The futures resumed trading on a bullish note mainly due to Indonesia’s reaffirmation of an increase in palm oil export levies. However, the weaker Malaysian palm oil export performance in palm oil production in first half ...