Panamanian officials are hoping to reassure carriers and shippers that operations will remain stable while a longer-term concession process unfolds.

The order not only adds to CMA's growing fleet of alternative-fuel vessels, but also strengthens its ties in one of the world’s fastest-growing shipbuilding markets.

Seroka noted that despite the trade war uncertainty, “purchase orders that go out three months in advance to Asia look stable, a good sign.”

The administration says it will look to focus on special loans and tax breaks for American shipbuilders, as well as workplace development initiatives for U.S. mariners. 

More than 600 tankers have been sanctioned by a combination of the European Union, the U.K. and U.S. for their links to Russia.

There’s been increased consolidation pressure in the industry due to a slump in freight rates during the pandemic, when carriers ordered a record number of ships to meet demand.

Currently, large ships are required to slow down at certain times to avoid collisions, which is a leading cause of death for the giant North Atlantic right whales.

The problems presented by nuclear energy as an alternative shipping fuel are less about the technology itself, and more about operational feasibility.

The warning is the most direct criticism yet from the Trump administration of Peru’s close ties to China, which is the South American nation’s top trading partner.

DP World's CEO corresponded with Epstein for more than a decade after Epstein’s jail sentence in 2008 on charges that included procuring a minor for prostitution.