This is the second incident involving a container ship off the coast of Kerala in recent weeks, after a vessel capsized and spilled oil into the Indian Ocean on May 25.

Shipping executives said they also feared a severe disruption to their networks if they returned to the Red Sea but suddenly had to pull out of the region because attacks resumed.

The ship recycling policy, requires that all ONE vessels be recycled only at certified and reputable recycling facilities.

Demand for lithium-ion batteries, including in EVs, is bringing a new risk to the global shipping industry, particularly given the value of the vehicles on board the largest car-carrying vessels.

China is Australia’s biggest trading partner by far and previously expressed anger over pressure from the Trump administration concerning the Panama Canal.

U.S. tariffs — combined with sudden threats and truces — make it difficult for importers and exporters to calibrate their orders, causing unseasonal swings in demand.

The vessel, which was carrying 84 tons of diesel and 367 tons of furnace oil, sank due to ‘flooding,’ the coast guard said.                              

Efficiency is at the core of reducing supply chain waste and, therefore, achieving sustainability goals.

Earlier this year, the Houthis agreed to halt attacks on U.S.-flagged vessels, but vessels flagged under U.S. allies or shipping to Israeli ports have remained vulnerable.

The plan’s first phase involves purchasing 79 ships, 30 of which would be medium-range vessels.