The global shipbuilding orderbook has reached an all-time high of 9,699 vessels and 435.8m gt, surpassing the previous record of 422m gt set in October 2008, according to Clarksons Research. The backlog stood at about 24% of the existing world fleet by gross tonnage...

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Canada will provide up to C$254m ($181m) towards a C$463m ($329.4m) expansion of the Saint John trade corridor in New Brunswick, covering port, rail and road infrastructure, according to a Transport Canada statement. The federal contribution will come from Canada’s...

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A law firm, two shipping agents, a ship manager and nine vessels have been sanctioned by the US over alleged involvement in Iran-linked commodity trades, according to a US Treasury statement. The measures under Executive Order 13902 target Karnakis and Karnakis,...

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South Korean shipbuilder HD Hyundai Heavy Industries has completed the 93,000-cbm Terra Clove, the world’s first ammonia dual-fuel very large ammonia carrier, for Singapore-based Eastern Pacific Shipping, with delivery due in November after sea trials, according to a...

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VLCC freight from the Middle East Gulf to Asia climbed above $37 per barrel by mid-October, more than five times its pre-conflict level, according to the International Energy Agency. Charter rates on the route rose above $1.3m per day. Higher delivered crude costs...

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