Trade Mayhem: Containers Lost at Sea + US Blacklists 50 Chinese Firms 🌊

SHIPPING NEWS

MSC Ship Hit by Storm, 15 Containers Overboard

Earlier this week, the container vessel MSC Houston V lost multiple shipping containers during a severe storm in the Atlantic Ocean near Cape St. Vincent, Portugal. The ship, which was en route from Piraeus, Greece, to Liverpool, UK, was struck by intense winds and rough seas linked to Storm Martinho, with gusts reaching up to 48 knots.

The harsh conditions caused several container stacks to collapse on the aft section of the ship. At least 15 containers were confirmed to have fallen overboard, while others were left hanging dangerously off the starboard side near the stern. The extent of the cargo damage is still being assessed.

Following the incident, the vessel diverted to the Port of Vigo in Spain, where it arrived the following morning. Docked at the Termavi Container Terminal, the ship was met with a rapid response plan to address the damaged and overhanging containers. For safety, port authorities repositioned cranes and brought in a mobile crane to assist with the operation.

Officials have stated that while the operation may take time, the situation poses no current risk to maritime traffic, including nearby fishing vessels.

The event is a stark reminder of the increasing risks global shipping faces from extreme weather. It also highlights the critical importance of proper container securing systems and emergency protocols aboard cargo vessels. Watch Clip

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TRADE NEWS

Export Controls Tighten as U.S. Targets 80 Companies

The United States has added more than 80 companies to its export control “entity list,” including over 50 Chinese firms accused of seeking advanced technologies—such as artificial intelligence, quantum computing, and supercomputing—for military use. The move, announced by the Commerce Department’s Bureau of Industry and Security (BIS), aims to restrict China’s development of hypersonic weapons, exascale computing, and other sensitive defense technologies.

Among those listed are six subsidiaries of Inspur Group, China’s top cloud and big data firm, already blacklisted in 2023. The Beijing Academy of Artificial Intelligence (BAAI) was also included, prompting backlash. BAAI, a private non-profit, denied any military links and called the decision baseless. A U.S. review committee argued that BAAI and Beijing Innovation Wisdom Technology had developed large AI models and advanced chips for military purposes.

Companies from Taiwan, Iran, Pakistan, South Africa, and the UAE were also added. The list includes South Africa’s Test Flying Academy, accused of training Chinese military personnel, and several Iranian firms allegedly involved in drone and missile development.

China's Foreign Ministry strongly condemned the move, labeling it an abuse of export controls that violates international norms and disrupts global supply chains. In response to growing U.S. pressure, China has introduced its own anti-sanctions laws, allowing asset freezes and entry bans on targeted foreign entities.

This escalation comes as President Trump pushes for further tariffs—raising duties on Chinese goods to 20% and proposing 25% tariffs on imports from countries trading oil with Venezuela, a major Chinese supplier. China has retaliated with new tariffs and an antitrust investigation into Google.

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