India inaugurates first transshipment container port: The country yesterday inaugurated Vizhinjam transshipment container port, which is expected to significantly boost India’s international maritime trade, Bloomberg reports. The new port — a joint venture between Adani Ports and the state government of Kerala — is strategically situated near international shipping routes that account for 30% of global cargo traffic, as well as a channel that goes 24 meters below the sea, making it attractive for the world’s biggest ships. The location will help pave the way for India to become a significant player in handling some of the world’s biggest container ships, while cementing Gautam Adani’s position in India’s infrastructure landscape after fraud allegations sent its share price plunging earlier this year.

US sanctions tankers for violating Russian price cap:The US has sanctioned two tankers — UAE-based Lumber Marine for shipping and Turkey-based Ice Pearl Navigation Corp — for using US-based shipping services while carrying Russian crude purchased at a greater price than USD 60 per barrel, the Financial Times reports. Lumber Marine was carrying Russian crude purchased for more than USD 75 a barrel and Ice Pearl Navigation Corp’s oil was bought for USD 80 per barrel, violating the oil price cap imposed by the G7 countries on Moscow last year. The G7 measures aim to restrict the flow of petrodollars to Russia as it continues its invasion of Ukraine.

Maersk to fit ships with high-speed internet using Starlink satellite: Danish-based AP Moller-Maersk is partnering with SpaceX's Starlink satellite network to supply 330 company-owned ships with high-speed internet access by mid-2024, Bloomberg reports. The systems have already been installed in some 30 vessels as part of a trial program, which looks to boost crew morale and shipping digitization. The improved connectivity should also enhance operational efficiency by reducing onboard IT problems and enhancing communication between officers and land-based fleet managers.

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  • Iran is making its transport corridors available as an alternative route forRussian wheatexports tothird countries. (Caspian News)
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