News & Blog

Shipping industry news, Cyprus port updates and logistics insights.

Ship‑breaking slump hits record low, fleet ages rapidly as owners delay scrapping

Ship‑breaking slump hits record low, fleet ages rapidly as owners delay scrapping

Ship recycling hits its deepest decline in 50 years, pushing the global fleet’s average age to unprecedented levels.

13/10/2026
Chinese Buyers Accelerate Capesize Acquisitions Amid Strong Iron Ore Market

Chinese Buyers Accelerate Capesize Acquisitions Amid Strong Iron Ore Market

Chinese firms have secured two capesize vessels this month, paying $35 m and $40 m, reflecting heightened demand as iron‑ore rates rise.

13/10/2026

MISC Secures Five Additional LNG Carriers for Petronas on 20‑Year Charters

Malaysian shipowner MISC adds five new LNG carriers to its orderbook, with delivery slated for 2029‑2030, under long‑term charters from Petronas.

13/10/2026
Why Container Lines Are Rushing Back to the Suez Canal Despite Rising Risks

Why Container Lines Are Rushing Back to the Suez Canal Despite Rising Risks

Container carriers see only a $1 million saving per round‑trip via Suez, yet war‑risk premiums and security concerns make the choice far from simple.

12/10/2026
Turkey’s Crude Oil Export Surge Reignites Mediterranean Tanker Market

Turkey’s Crude Oil Export Surge Reignites Mediterranean Tanker Market

Turkey’s crude exports jumped 31% YoY in Jan‑Sep 2026, driven by Azeri BTC and Iraqi Kirkuk grades, reshaping global tanker flows.

12/10/2026
UK and Japan Impose Vessel‑Specific Sanctions on Russia’s Largest Shipping Group

UK and Japan Impose Vessel‑Specific Sanctions on Russia’s Largest Shipping Group

London and Tokyo target individual Sovcomflot tankers and LNG carriers, expanding sanctions before the ships even begin regular trading.

12/10/2026
BIMCO Introduces Standard Framework for Energy‑Saving Retrofit Costs

BIMCO Introduces Standard Framework for Energy‑Saving Retrofit Costs

BIMCO's new Energy Saving Device Retrofit Addendum 2026 offers shipowners and charterers a flexible contract template to split retrofit expenses and fuel‑saving benefits.

11/10/2026
Wolt Retail Report Shows Surge in E‑Commerce Driving New Logistics Opportunities

Wolt Retail Report Shows Surge in E‑Commerce Driving New Logistics Opportunities

Wolt records 230 million orders since 2015, with retail now over a quarter of its sales, highlighting shifting consumer habits and logistics demand.

11/10/2026

Pilakouta Group Unveils State‑of‑the‑Art BMW Retail.Next Showroom in Nicosia

Pilakouta Group launches a fully renovated BMW Retail.Next showroom in Nicosia, showcasing a blended physical‑digital experience for BMW, MINI and Motorrad brands.

11/10/2026
Hybrid Cars Lead 9.1% Rise in Cyprus Vehicle Registrations, 2026

Hybrid Cars Lead 9.1% Rise in Cyprus Vehicle Registrations, 2026

Cyprus recorded a 9.1% increase in motor vehicle registrations to 43,890 in Jan‑Sept 2026, with hybrids now comprising 53% of passenger cars.

10/10/2026
Lidl Appoints Georgios Tokatlidis as CEO of Greece and Cyprus Operations

Lidl Appoints Georgios Tokatlidis as CEO of Greece and Cyprus Operations

Lidl names Georgios Tokatlidis, currently CEO of Lidl Denmark, to lead its Greece and Cyprus businesses from March 1, 2027, succeeding Miltiadis Forozidis.

10/10/2026
EU-China Deal Cuts Hybrid Vehicle Exports, Eases Rare‑Earth Licences, Boosting Trade Logistics

EU-China Deal Cuts Hybrid Vehicle Exports, Eases Rare‑Earth Licences, Boosting Trade Logistics

The EU and China have agreed to limit Chinese hybrid car exports to Europe and streamline rare‑earth licences, promising significant tariff savings and reshaping maritime trade.

10/10/2026

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