Fire on a Containership Off the Coast of India

A major fire broke out aboard the Wan Hai 503, a Singapore-flagged containership off India’s west coast. Of the 22 crew members, 18 have been rescued, while 4 remain missing. Two survivors are reported to be seriously injured.

The fire started in a container and quickly spread. The vessel was carrying hazardous materials, including flammable liquids, toxic substances, and self-combustibles. Explosions were reported onboard, and several containers fell overboard.

The situation remains critical — dense smoke is rising and the risk of secondary explosions is high.

ONE Marvel and MSC Ambra diverted to assist. Indian Navy and Coast Guard ships, along with aircraft, are actively working at the scene. Survivors are being taken to New Mangalore Port.

The deal includes two firm orders and an option for 2 more additional ones, each with a capacity of 3,000 TEU.

Founded in 2009, Hai An has 17 container ships in its fleet.

The company says it intends to expand its presence in the Mediterranean, Europe and the US West Coast in the coming years.

Translated with DeepL.com (free version)

China and Colombia should seize the latter's formal accession to the Belt and Road Initiative as an opportunity to improve the quality and level of bilateral cooperation, Chinese President Xi Jinping said Wednesday.

Xi Jinping made the statement during a meeting with Colombian President Gustavo Petro, who is in Beijing to attend the fourth ministerial meeting of the China-CELAC Forum /Community of Latin American and Caribbean States/.

After the meeting, the two heads of state witnessed the signing of a cooperation plan between the two governments to jointly build the Silk Road Economic Belt and the 21st Century Maritime Silk Road.

The U.S. and China agreed to reduce tariffs for 90 days, pausing the trade war and boosting global stock markets. U.S. tariffs will drop from 145% to 30%, and China’s from 125% to 10%.

While markets cheered the move, uncertainty remains. Core issues like trade imbalances, subsidies, and the fentanyl crisis remain unresolved. Businesses are cautious despite the relief.

Some companies are resuming shipments but remain wary of long-term policy shifts.

The diplomatic dispute brewing between Algeria and France has impacted a potential investment by the CMA CGM in the Algerian port sector. The French ship[ping company was reported to be negotiating a concession for the port of Oran through its subsidiary CMA Terminals, but the deal has been on hold as tensions rise between the two countries.

Early this week, the CEO of CMA CGM Rodolphe Saadé was scheduled to visit Algeria for a business trip. However, the visit was reportedly postponed as relations between Algeria and France further deteriorated this week. According to local media reports, Rodolphe Saadé was to be received by Algerian President Abdelmadjid Tebboune to finalize a port investment deal, which has been under negotiations for nearly a year.

The diplomatic incident emerged as Algeria protested after one of its consular staff was arrested in France. The indictment of the official was over suspicion of involvement in the kidnapping of an Algerian government critic in Paris in April 2024. This has seen the two countries expel diplomats from both sides in a tit-for-tat move.

The diplomatic dispute also appears to have taken an economic dimension. The Algerian Economic Renewal Council (CREA), the country’s largest business organization, canceled its planned visit to France next month, where it was to hold a meeting with the French employers’ association (MEDEF). CREA accused French authorities of blocking investments in Algeria.

“The cancellation of the trip follows measures taken by French authorities, who strongly pressured a French maritime transport company to abandon its trip to Algeria to finalize an investment project,” said CREA. With the ongoing tension between Algeria and France, and Saadé’s visit on hold, the negotiations for the port concession are expected to be delayed.

CMA CGM is already present in nine Algerian ports including Algiers, Annaba, Béjaïa, Skikda, and Ghazaouet. The interest in Oran is because of the port’s strategic location in the Western Mediterranean and its proximity to Europe. CMA CGM is believed to be considering a feeder shipping line between Marseille and Oran, to be operated by its subsidiary, La Méridionale.