As the milestone of 12 months since the beginning of the conflict is approaching, owners of trapped vessels would be able to claim Constructive Total Loss (CTL) for their assets.
On February 21st, 2023, Skytek recorded that 58 ships aggregating a market value of $440 million remained trapped and unable to sail out from the Ukrainian seaports.
The Dnieper River is the longest river in Ukraine, and along its stream are deployed six sets of dams and hydroelectric stations producing an estimated 10% of the country’s electricity production.
The Strait of Hormuz, which has a width of approximately 30 nautical miles, is a critical global chokepoint through which nearly one-third of the world’s oil supply passes. Recent incidents, such as the detainment of two crude oil tankers by the Iranian navy, have further heightened tensions in the region and underscored the significance of this strategic waterway.
The Kakhovka Reservoir, stretching for 220 kilometres along the river stream between Zaporizhzhia and Nova Kakhovka, is estimated to hold approximately 18 cubic kilometres of water.
On July 25th, 2023, the Car Carrier “Freemantle Highway” departed from Bremerhaven, Germany, bound for Port Said, Egypt, carrying 3,783 cars including 483 electric vehicles (EVs), as per a statement from the operator Kawasaki Kisen Kaisha Ltd.
In early August 2023, a series of wildfires broke out in the U.S. state of Hawaii, predominantly on the island of Maui. The wind-driven fires prompted evacuations, caused widespread damage, and killed at least 96 people in the town.
Hurricane Idalia, the ninth named storm of the year and the first major hurricane of the 2023 Atlantic hurricane season, is expected to make landfall in Florida’s Big Bend region near…
The Galaxy Leader is a 5,110 CEU capacity Vehicle Carrier built in 2002 with a deadweight tonnage (DWT) of 17,127. It is registered under the Bahamas flag, classified by the Det Norske…
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