The shipping industry is urging the United Nations (UN) to take decisive action to protect merchant vessels and seafarers amid escalating attacks in the Middle East.
shipping industry
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The International Maritime Organization (IMO) recently concluded talks in London to introduce the world's first global emissions tax. The tax, backed by 34 nations, aims to steer the shipping industry toward eco-friendly practices.
Houthi attacks disrupt Red Sea shipping, causing global companies like Geely, Tesla, and Adidas to face delays and logistic challenges, prompting strategic adaptations.
Shipping giants Maersk and Hapag-Lloyd have temporarily suspended their container ship travel through the Red Sea and the Bab el-Mandeb Strait in the Middle East, citing security risks.
Maersk Line merged with its major rivals and expected to boost its profit as soon as this month.
Cochin Shipyard considered IPO to fund its expansion that is valued roughly at RS1500 crore.
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