Samsung Heavy Industries (SHI) has secured its first order of the year, announcing on Jan. 20 that it has signed a contract with a shipowner in the Oceania region for the construction of a liquefied natural gas (LNG) carrier worth 379.6 billion won. The vessel is scheduled to be delivered by June 30, 2027. This new order increases SHI's order backlog for LNG carriers to 84 vessels.
Budget 2025 sets the stage for a significant transformation in India's industrial and logistics sectors, highlighting the toy manufacturing industry. Key initiatives like PM Gati Shakti and infrastructure upgrades are poised to reduce logistics costs, boost efficiency, and drive demand for warehousing and storage, propelling India towards becoming a global manufacturing hub.
IMO has confirmed reports of at least 69 attacks on international shipping in the Red Sea area, occurring between November 2023 and November 2024. None have been reported to IMO since November 2024. These illegal and unjustifiable attacks have resulted in widespread impacts on the industry and global economy. “We remain on track and we continue to make progress.