Latest news with #maritimeindustry
SBS Australia
an hour ago
- Business
- SBS Australia
An illegal fate? The curious case of Australia's last homemade cargo ship
An Australian cargo ship scrapped for steel in Bangladesh may have intentionally evaded an international hazardous waste treaty and European law, a Dateline investigation can reveal. A Panama flag, a Liberian shell company, and the world's largest "cash buyer" were all part of the mysterious trail of the ship's final voyage. According to the industry watchdog, NGO Shipbreaking Platform (NSP), which campaigns to clean up the industry, the Searoad Tamar case is not isolated, but rather business as usual for the international maritime industry. This is how nearly all the world's ocean-going vessels are scrapped, its website says . Most of the world's ships die on just two beaches: one each in India and Bangladesh. There, beached ships often containing hazardous waste are cut apart by poor workers, usually without protective equipment, in what the International Labour Organisation declared one of the world's most dangerous jobs. The Searoad Tamar was a roll-on, roll-off vehicle ferry that for years plied the Bass Straight between Devonport and Melbourne. Its longtime owner-operator, SeaRoad, sold the ship in 2021 to a Greece-based shipping company for use in the Mediterranean, a company spokesperson said in a statement. The Searoad Tamar left Melbourne for the last time in April 2021 but never arrived in Greece. Instead, three weeks later, and registered under a Panama flag, the ship was beached into the mud at Chittagong, Bangladesh's second largest city. Dateline does not suggest that the Tasmanian company, SeaRoad, did anything wrong. SeaRoad's head, Chas Kelly, said he was "devastated" to learn the ship had been scrapped. Shipping records obscure the name of the new Greek owner, but Dateline has confirmed with three sources that the Athens-addressed Ainaftis Shipping Co. purchased the Searoad Tamar. Ainaftis Shipping Co. did not reply to Dateline's emailed questions. It would likely breach both EU laws and the Basel Convention on the movement of hazardous waste if the Greek company sold and sent the Searoad Tamar to a Bangladeshi scrapyard. But official shipping records show that the vessel was broken at the Chittagong scrapyard, Asadi Steel Enterprise. So, was a so-called cash buyer — a middleman ship scrapping merchant company involved? Dateline approached the Asadi Steel Enterprise yard and was told by the general manager that it bought the Searoad Tamar from a company with an address in Liberia: Ship Recycling Investments LLC. But NSP analysts think it's a shell company. Its address is a PO Box for Liberia's official offshore business registry, reportedly linked to tens of thousands of anonymous companies. But the address also links it to a well-known cash buyer: Global Marketing Systems (GMS). The Dubai-based company's website says GMS is "world's largest buyer of ships and offshore vessels for recycling". The site even lists a calendar of Bangladesh's tides for beaching purposes. GMS also did not respond to Dateline's questions. NSP's website says that cash buyers and so-called ' flags of convenience ' are used to allow shipping companies to send ships for scrapping in places like Bangladesh and India while avoiding locals laws and the Basel Convention's restrictions. This, NSP's analysts' say, is how most of the world's ships end up broken on beaches in Bangladesh and India, despite global attempts to control and prevent the practice. And it's why the arrangements and trail of the Searoad Tamar from Melbourne to Chittagong are so difficult to investigate, because the cash buyer system inhibits scrutiny and obscures accountability.
Al Bawaba
3 days ago
- Politics
- Al Bawaba
Mysterious blaze destroys 15 vessels at key Iranian port amid rising tensions
Published June 12th, 2025 - 11:58 GMT The dock, a vital regional economic hub, supports around 70 active vessels, making the incident a significant blow to the area's maritime industry. ALBAWABA- A large and unexplained fire broke out Thursday at the Javad Al-Aemmeh fishing dock in Parsian County, located in Iran's southern Hormozgan Province along the Persian Gulf. The blaze engulfed over 15 commercial vessels, spreading flames despite ongoing firefighting efforts. Local sources report that more than 10 fishing boats were initially set ablaze, with the total number now exceeding 15. The dock, a vital regional economic hub, supports around 70 active vessels, making the incident a significant blow to the area's maritime industry. BREAKING A massive fire has broken out at the dock of #Iran's Parsian Port, engulfing 10 commercial vessels. The cause of the incident is still unknown. — Islamic Republic of Iran (@IRIran_official) June 12, 2025 The cause of the fire remains unknown, and no official explanation has been provided. However, the incident comes at a highly sensitive moment, as tensions between Iran, the United States, and Israel intensify following the breakdown of nuclear negotiations and fresh allegations from the International Atomic Energy Agency accusing Tehran of non-cooperation. This incident follows a devastating explosion and fire at the Port of Shahid Rajaee, part of Bandar Abbas's vital port infrastructure, on April 26, 2025. That blast, which reportedly involved containers possibly holding ammonium perchlorate (a powerful rocket fuel oxidizer), killed 57 people and injured more than 1,000. The Iranian government enforced a media blackout at the time. The Port of Shahid Rajaee is Iran's largest commercial port, handling around 80 million tons of cargo annually. It is strategically located on the Strait of Hormuz and is a key artery for Iran's global trade and naval logistics. Both incidents come amid escalating nuclear tensions between Iran and the West. As negotiations with the U.S. remain deadlocked and the IAEA accuses Tehran of non-cooperation, Iran's Foreign Ministry recently confirmed that national security had been placed on high alert following the April explosion. © 2000 - 2025 Al Bawaba (
Zawya
09-05-2025
- Business
- Zawya
Vietnam Maritime Corporation's growth (VIMC) set to navigate in the new era
30 years of establishment and with a second-class labor medal HANOI, VIETNAM - Media OutReach Newswire - 9 May 2025 - Vietnam Maritime Corporation (VIMC) solemnly celebrates its 30th anniversary and receives the Second-Class Labor Medal, marking three decades of establishment, development and significant contributions to Việt Nam's maritime industry. The event will be honoured by the presence of leaders from the Viet Nam's Party and Government, the Ministry of Finance, strategic partners and customers, along with the entire workforce of VIMC. Three decades of establishment and development Vietnam Maritime Corporation (formerly known as Vinalines) was established on April 29, 1995, through the restructuring of several shipping, port operations and maritime service enterprises. Initially, Vinalines had a modest charter capital of less than VND 1,500 billion, managing a fleet of 49 vessels with an average age of 21.5 years and a combined tonnage of 400,000 DWT. At that time, the corporation lacked dedicated port infrastructure, possessing only 6,900 metres of berth. Throughout its history, VIMC has undergone multiple phases of growth. At its peak, the corporation managed a fleet of 159 vessels, with a total capacity of nearly 3.5 million DWT, accounting for 45% of the national total tonnage. However, the global financial crisis of 2008 posed severe challenges, pushing VIMC to the brink of bankruptcy. During this turbulent period, with the strategic direction and support from the Government and relevant ministries, VIMC successfully navigated the crisis. Inspired by the resilience and determination of seafarers, VIMC implemented transformative solutions that have been rigorously pursued over the past decade. Undergoing a comprehensive restructuring, VIMC streamlined its operations to focus on three core business pillars: port operation, shipping and maritime services. It also decisively divested from loss-making entities and adopted modern governance and business models. New management tools and customer-centric strategies were integrated across all operations, ensuring greater efficiency and effectiveness. With these breakthrough strategies, VIMC has achieved remarkable recovery and development. From an equity deficit of (USD 180 million) VND 4,600 billion, the corporation has now grown to (USD 900 million) VND17,000 billion in equity capital. Today, VIMC has transformed into a publicly listed enterprise with a market capitalization exceeding (USD 4 billion) VND 100,000 billion. The corporation operates more than 16 key seaports, handling nearly 30 per cent of Việt Nam's total cargo throughput, while continuously expanding and modernising its shipping fleet. VIMC is spearheading investments in major deep-sea ports, including Cai Mep - Thi Vai, Lach Huyen and Can Gio International Hub Port — a strategically significant project aimed at enhancing Vietnam's maritime position on the global stage. Over three decades, VIMC's relentless innovation has enabled its recovery, but also unlocked new pathways for sustainable growth, setting the stage for a future of groundbreaking advancements. 30th Anniversary Ceremony The 30th anniversary and the awarding of the Second-Class Labor Medal to VIMC will take place on May 10, 2025, at the National Convention Center. The event will be attended by senior leaders from the Viet Nam's Party and Government, representatives from ministries, international organisations, business partners and the entire VIMC workforce. During the ceremony, Le Anh Son, Chairman of the VIMC's Board of Directors, will emphasise:"The Second-Class Labor Medal, awarded by the President, is a tremendous honour and encouragement for all VIMC employees. Our 30-year journey is not only one of growth but also of challenges and innovation. VIMC is committed to expanding its operations, enhancing competitiveness and making significant contributions to Việt Nam's economy." Sustainable Development Strategy In the years to come, VIMC aims to optimise port operations, expand logistics services, and modernise its fleet with environmentally friendly vessels. The corporation is actively collaborating with leading global shipping companies to strengthen Việt Nam's maritime connectivity. VIMC is developing an integrated logistics system that connects inland container depots (ICDs) and inland logistics centers to deep-water ports via rail and inland waterway transportation. This approach aims to reduce environmental emissions, ease the burden on the road transport network, contributing to Vietnam's goal of achieving net-zero emissions by 2050. VIMC is also prioritising digital transformation, incorporating artificial intelligence (AI) and big data into port operations and maritime logistics. These advancements will optimise costs, improve efficiency and minimise environmental impact and driving sustainable growth. VIMC is also prioritising digital transformation, incorporating artificial intelligence (AI) and big data into port operations and maritime logistics. These advancements will optimise costs, improve efficiency and minimise environmental impact and driving sustainable growth. Navigating into a new era As a leading enterprise in Việt Nam's maritime sector, VIMC remains committed to fostering economic growth, facilitating international trade and enhancing the competitiveness of the country's port system. The corporation's future vision includes maintaining sustainable growth while adopting global standards for green shipping and smart logistics. The 30th anniversary marks a significant milestone in VIMC's journey. With a solid foundation and a clear strategic vision, the corporation continues to assert its leadership in the maritime sector, striving for sustainable development and deeper global integration. With clear strategic direction and bold ambitions, VIMC is steadily advancing towards its goal of becoming a leading maritime corporation in the region. Hashtag: #VIMC The issuer is solely responsible for the content of this announcement. About VIMC Established in 1995 under the Prime Minister's Decision No. 250 / TTg with the mission of being the core and key enterprise of Vietnam's maritime industry. Over 29 years of establishment and development, VIMC is one of leading businesses in opening up cooperation, international integration, providing maritime services on a global scale, making an important contribution to the development of Vietnam's marine economy. VIMC changed to operate as a joint stock company from August 18, 2020. Vietnam Maritime Corporation (VIMC)
