Ship erupts in flames 🔥 + US–China deal back on 🤝

SHIPPING NEWS

Massive Chemical Fire Aboard Wan Hai 503

On June 9, 2025, the Singapore-flagged container vessel MV Wan Hai 503 suffered a catastrophic explosion and fire approximately 78 nautical miles off the coast of Kerala, India. The incident occurred while the vessel was en route from Colombo to Mumbai, leading to immediate concerns about crew safety and potential environmental impacts.

The ship carried 22 crew members, including Chinese, Taiwanese, Myanmarese, and Indonesian nationals. 18 crew members were rescued by Indian naval and coast guard forces, but 4 remain missing. Of those rescued, two are reported to be in critical condition, while four others sustained minor injuries.

The vessel was loaded with 157 containers of hazardous materials, including flammable and toxic chemicals such as trichlorobenzene, hydroquinone, and tetrachloroethylene—substances known for their carcinogenic and mutagenic properties. The fire, which continues to burn and emit thick smoke, has caused the ship to list approximately 10 to 15 degrees to port, and several containers have fallen overboard, raising environmental concerns.

Indian Coast Guard vessels Samudra Prahari, Sachet, and Samarth are engaged in firefighting operations, supported by aerial surveillance from a Dornier aircraft. The Indian Navy’s INS Sutlej is also assisting in the response efforts.

Authorities and environmental agencies are on high alert as drifting containers and chemical-laden debris could soon wash ashore, threatening marine ecosystems and coastal communities. The Kerala government is preparing for possible pollution control measures.

Investigations are ongoing to determine the cause of the explosion, while response teams work to prevent further environmental damage and ensure crew safety. Watch Clip.

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VIDEO OF THE WEEK

How A 600 Pound Tunafish Sells For $3 Million At The Largest Fish Market In The World

The Toyosu Market in Tokyo, Japan is a 4 million square foot area for squid, mackerel, and, most importantly, tuna. The market is home to the world-renowned tuna auctions, where expert bidders bet millions of dollars on top-tier tuna. But the population of tuna is on the decline, specifically bluefin tuna, which is known as the king of sushi. Business Insider follows expert bidder Takayuki Shinoda inside the fast-paced world of tuna bidding and its role in marine life sustainability.

TRADE SNIPPETS

US and China reach limited trade deal after London talks. The US and China have agreed on a narrow trade deal, restoring part of the Geneva truce. It includes rare earth exports and student visa relief, but broader tensions remain unresolved.

Foreign automakers slash vehicle shipments amid tariffs. In May 2025, foreign automakers reduced U.S.-bound vehicle shipments by over 70% due to President Trump's 25% import tariffs, signaling a significant disruption in global automotive trade.

Drugmakers to invest $270B in US manufacturing under reshoring push. Pharma giants including Roche, Eli Lilly, and Novartis plan to invest over $270 billion in U.S. facilities, reshoring production in response to tariff pressures and supply chain vulnerabilities.

Imports plunge 28.5% in May amid 145% China tariffs. In May 2025, U.S. seaborne imports from China dropped 28.5% year-over-year—the steepest decline since the pandemic—due to the imposition of 145% tariffs. These tariffs heavily impacted trade through West Coast ports, with Long Beach and Los Angeles registering respective drops of 31.6% and 29.9% in Chinese imports.

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