Tag: Rising
Rising threat of maritime cyberattacks
In a world driven by connectivity and digitalisation, the maritime industry is not immune to the growing threat of cyberattacks. A recent report by Thetius, law firm HFW, and maritime cybersecurity company CyberOwl reveals a sobering truth: the average cost of a cyberattack in the maritime sector has soared to $550,000, a threefold increase from…
Dry Bulk Market: “Rising Tides” as Water Levels Drop in Various Hubs
The dry bulk market has been on a growth “spree”, as a number of disruptions in key waterways have had an impact on tonnage availability. In its latest weekly report, shipbroker Xclusiv said that “the midsize dry bulk segments have reached 4-month highs, driven partly by low water levels on the Mississippi river and the…
Carbon dioxide shipping set to surge on rising offshore storage demand
Carbon dioxide transportation is shifting to the seas as emitters look to move captured gas to offshore storage projects, according to Rystad Energy. A fleet of 55 carriers will be required by 2030 to ship more than 90 million tonnes per year of CO2, along with 48 terminals to handle the import and export of…
Saudi Arabia Crude Oil Exports Keep Rising in 2023
Saudi Arabia’s crude oil exports have maintained their upward momentum in 2023, albeit at a significant slower pace, as production has been reduced as part of OPEC’s oil price strategy. In its latest weekly report, shipbroker Banchero Costa said that “2023 so far has been another positive period for crude oil trade, despite the high…
