The production cuts will probably lead to a real loss in supply and tighten global oil markets because those doing the cutting are largely pumping at their quotas.

The Croatian government awarded a $3 billion contract to build and operate a container terminal to Maersk-owned APM Terminals, after canceling a tender that had been given to three Chinese state-owned companies.

Russia wants the route to become a major shipping lane and has invested heavily in infrastructure there.

The aftermath of European Union sanctions on Russia mean that some older vessels may not be properly inspected and maintained, leading to a catastrophic accident at sea.

P&O Ferries, owned by DP World, laid off hundreds of seafarers in March 2022 and replaced them with foreign agency workers paid less than the minimum wage.

France released strategic stockpiles of oil products in March to avoid fuel shortages as the strikes blocked fuel movements from many local refineries.

The 48-hour strike, which is to end on the morning of March 25, has largely paralyzed cargo handling at major ports including Hamburg, Bremerhaven and Wilhelmshaven

A proposal from the World Bank would require shipping companies to pay into a fund based on the amount of carbon their fleets emit.

With cargo volumes in steep decline, a showdown that ties up the flow of goods is likely to push more business to other gateways.

Denmark’s biggest company outlined in 2016 a historic strategic shift to break up its century-old conglomerate structure and sell all its four big energy assets.