Insurance Costs Surge on Red Sea Routes Isn't it intriguing that only the major container lines and not tankers, LNG and bulk carriers have diverted from the Red Sea routes. A Suezmax tanker with a load of 750,000 barrels priced at $80/bbls is a cargo worth around $60 million. At a war risk insurance of
Marine Protected Areas Security & Biodiversity Protection of Marine Areas is not only about conservation of aquatic species but also defending a state’s territory against marine intruders. According to the United Nations Convention on the Law of the Sea (UNCLOS) maritime zones were chalked out to depict sea borders yet whether it’s the territorial sea,
Third Phase SENSREC The International Maritime Organisation shared as far back as on 31st of July, 2020 that the third phase of an IMO-implemented SENSREC project to enhance safe and environmentally sound ship recycling in Bangladesh has been given the go-ahead. The SENSREC Phase III will focus on improving ship recycling standards in compliance with
Indian Ocean enters Plastic Age The magnitude of pollution in waterways and oceans is now so much that the world may be entering the “Plastic Age” . The United Nations Environment Programme (UNEP) claims that globally 400 million tons of plastic are produced annually yet smart technology, water sensors and integrated cloud data systems can
Bleak Future of Offshore Turbines Soaring inflation, rising energy costs and global temperatures have demolished any vision of achieving electricity generation of 70 % through renewable energy sources by the 2030's whether in the US or EU. Vested stakeholders within the US and EU underestimated the market of offshore turbines being rudely jolted by these
War Memorial Queensland’s Kenilworth war memorial seems unremarkable to the average passerby. If you blink, you’ll miss it, and even if you don’t blink, you might still miss it. But a keener observer would notice that there are four services represented. Along with the navy, army and air force, the memorial honours the merchant navy,
India’s Knee Jerk Approach to China’s Maritime Dominance The nationalist fervor prevailing in India is spilling into the maritime sphere and its nationalists visualise the 7,500 km coastline as a connecting artery with the world's busiest shipping routes. It is perceived that China has invested heavily in Sri Lankan ports at Colombo and Hambantota. India’s
Highly Priced Yachts of Russian Oligarchs Pursuant to the Russian invasion of Ukraine last year the US and its European allies imposed sanctions against Russian owners of yachts and villas on the presumption that the owners were associated with the Russian government. Initial seizures were impounding of a 213-foot yacht owned by Alexei Mordashov in
Evolution of Maritime Law In the year 1648 the Treaty of Westphalia confirmed that complete authority and sovereignty over land by rulers would be recognised but no nation could exercise sovereignty over the oceans. Maritime law evolves from a focus on the regulation or prevention of naval warfare to a structure for secure, safe and
Shipping & Environmental Air Pollution As maritime transportation plays an important role for world sea trade its contribution to air pollution and climate change cannot be brushed aside. The current population of the world merchant fleet of 100 gross tonnage and above is about 117,000 vessels and the total gross tonnage is 1.36 billion. Annual
