Red Sea Container Terminals (RSCT) has officially inaugurated Egypt’s first semi-automated container terminal at Sokhna Port on the Gulf of Suez. The milestone project, backed by a 30-year concession agreement with the Egyptian government, reinforces Egypt’s position as a strategic hub for international trade and investment.
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The world’s first legally binding global treaty aimed at protecting marine biodiversity in international waters will enter into force on 17 January 2026, marking a major milestone in ocean governance. Known formally as the Biodiversity beyond National Jurisdiction (BBNJ) Agreement, the treaty establishes a comprehensive framework for the sustainable use and conservation of marine resources on the high seas.
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India and the European Union are nearing the conclusion of a long-awaited free trade agreement (FTA), with negotiations expected to wrap up later this month, according to India’s Trade Secretary Rajesh Agrawal. If finalized, the deal would become India’s largest trade agreement, as New Delhi looks to diversify export markets amid ongoing U.S. tariff pressures and slower progress in trade talks with Washington.
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Maersk, the Danish shipping giant, has announced plans to resume limited operations through the Red Sea and Suez Canal later this month, ending more than a year of avoiding the critical route due to security concerns linked to Houthi attacks.
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A fire broke out at a container terminal near West Wharf Road at Karachi Port Trust (KPT) on Friday, local media reported.
According to initial details, multiple emergency agencies launched a coordinated operation to control the blaze. Teams from the Karachi Municipal Corporation (KMC), Rescue 1122, Karachi Port Trust, and the Pakistan Navy are actively involved in firefighting efforts.
Shanghai: COSCO Shipping Holdings has selected Jiangnan Shipyard for the construction of 12 new 18,000 TEU LNG dual-fuel container vessels, reinforcing its long-term fleet expansion and decarbonization strategy.
The shipbuilding contracts are signed and each ship is estimated to cost around RMB 1.4 billion (USD 200 million). The order is a significant move in the quest by COSCO Shipping to increase its fleet capacity, balance growth and competitive edge in the global container shipping market.
The Trump administration has finalized its first sale of Venezuelan crude oil, generating around $500 million in revenue, White House officials confirmed to multiple outlets Thursday. This landmark transaction marks the beginning of Washington’s efforts to market Venezuela’s energy resources globally following recent political developments.
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The SENSREC project of the International Maritime Organization has released a series of three parts of the video that demonstrate the various and significant roles played by women in the ship recycling sector. The campaign brings into focus how the industry can be more accommodating, fairer, and more productive through acknowledging and harnessing women’s transferable skills in the maritime workforce.
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Norway has issued 57 offshore oil and gas exploration licenses to 19 companies under in its latest annual licensing round and indicated that it will drill more acreage in the next year. This marks an increase in licenses awarded in mature areas, rising from 53 last year, while the total number of companies receiving permits decreased from 20, Energy Minister Terje Aasland announced at a recent energy conference.
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Canada and China are preparing to revive bilateral trade talks after years of diplomatic and economic strain, as shifting global trade dynamics and renewed US tariffs under President Donald Trump push both countries to reassess their reliance on Washington. Canadian Prime Minister Mark Carney’s first official visit to Beijing this week has signaled a possible reset in China–Canada trade relations, particularly in key sectors such as energy, agriculture, and raw materials.
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The United Kingdom is reportedly examining legal options to use oil seized from vessels linked to Russia’s so-called “shadow fleet” to help fund military assistance for Ukraine, according to The Times, citing a UK government source.
Russia has relied on a network of aging tankers, commonly referred to as the shadow fleet,to bypass Western sanctions imposed on its energy sector following the full-scale invasion of Ukraine in 2022. British officials are now assessing whether proceeds from sanctioned oil cargoes could be redirected away from Moscow and toward supporting Ukraine’s defense efforts.
Unidentified drones struck two Greek-owned oil tankers in the Black Sea on Tuesday, including a vessel scheduled to load Kazakh crude at Russia’s coast, according to officials. The incidents did not cause major damage and no injuries were reported among the crews.
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South Korea has reiterated its intention to join the trans-Pacific trade pact during high-level summit talks between President Lee Jae Myung and Japanese Prime Minister Sanae Takaichi, according to an official statement released. The discussions highlighted Seoul’s interest in acceding to the 12-member Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a major regional free trade agreement.
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A fishing boat accident near Keti Bandar, Thatta, has resulted in the death of one person, while six people were rescued and one remains missing, according to local officials.The incident occurred when a small fishing boat carrying eight people from Karachi suddenly began taking in water while at sea near Pakistan’s coastal town of Keti Bandar. The group had reportedly gone out for bird hunting when the fishing boat lost stability and capsized.
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Iran has reportedly released the Greek-owned oil tanker St. Nikolas, which had been detained since January 2024, according to maritime intelligence firm Tanker Trackers. The move appears to conclude the prolonged detention linked to previous U.S. sanctions enforcement involving the same vessel.
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