For a global transport network that carries 90 per cent of the world’s traded goods, international shipping is – surprisingly – somewhat out of sight, out of mind. Most people go about their daily lives oblivious to the thousands of ships that carry millions of containers across oceans and seas, 24 hours a day, seven days a week. It is only when this carefully calibrated supply chain breaks down that most people truly appreciate just how essential shipping is.
When the Singapore-flagged container vessel Dali hit a major bridge in the eastern US city of Baltimore, Maryland, on Tuesday, the world sat up and took notice. The moment of the Francis Scott Key Bridge’s collapse was caught on camera and endlessly replayed. In addition to the tragic loss of six people who were carrying out maintenance work on the bridge when it came down, the crash looks set have a cascade effect on jobs, businesses, trade and transport not just in the US north-east, but internationally.
Countries in the Middle East, home to some of the most strategic waterways in the world, are acutely aware of what can happen when shipping runs aground. Almost exactly three years ago, the Panama-flagged vessel Ever Given, operated by Evergreen Marine Corp, blocked Egypt’s Suez Canal for nearly a week. The enormous cargo ship was released in a difficult salvage operation but not before costing the world billions in lost trade. Elsewhere in the region, the continuing disruption in the Red Sea caused by Houthi attacks on international shipping is not just costing companies millions in expensive rerouting and higher insurance costs, it is also hurting the flow of humanitarian aid to war-torn Sudan.
Major accidents in shipping are relatively rare; according to a 2023 report from German insurers Allianz, 38 large ships were lost worldwide last year, down by more than a third year-on-year and the lowest total in the report’s history. But when things go wrong, the environment is often the first to suffer and the last to be put right. In May 2020, the MV X-Press Pearl container ship caught fire and sank off the coast of Sri Lanka, releasing chemical pollution that became the country’s worst ecological disaster. In January 2007, the MSC Napoli suffered catastrophic hull damage in the English Channel; the salvage operation took a colossal 924 days to complete.
Given the serious consequences of collision or fire at sea, how can shipping’s reputation for safety be improved? Plenty of ideas are in the mix. According to maritime software manufacturer BASSnet, advanced digital systems can ensure that vessels comply with shipping’s seven main international safety codes, and offer systematic and detailed records of audits, inspections and risk assessments. Best-in-class technology can also automate navigation and route planning, reducing risks and allowing seafarers to concentrate on other tasks.
Technology offers myriad ways to make shipping safer, but it is the world’s 1.9 million seafarers that must take centre stage in a culture of competence and accountability. For that to happen, crews’ mental and physical health must take priority; this can be done by improving ways of tracking work and rest hours to prevent fatigue from setting in.
Creating a safety culture that reaches from the boardroom to the engine room is essential. This was recently highlighted in another indispensable transport network – aviation. This week, Tim Clark, the president of Emirates Airlines, told The National that under-fire aircraft manufacturer Boeing needed to establish a governance model that prioritises safety and quality.
Accidents will happen and Baltimores is not an isolated incident; last month a container vessel rammed a bridge in Guangzhou, China, killing two people. But given shipping’s central place in both national and international economies, the margin for error is small. This is why Baltimore should sound an alarm for the industry as a whole to build on the progress it has already made.
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
AUSTRALIA SQUAD
Aaron Finch, Matt Renshaw, Brendan Doggett, Michael Neser, Usman Khawaja, Shaun Marsh, Mitchell Marsh, Tim Paine (captain), Travis Head, Marnus Labuschagne, Nathan Lyon, Jon Holland, Ashton Agar, Mitchell Starc, Peter Siddle
Closing the loophole on sugary drinks
As The National reported last year, non-fizzy sugared drinks were not covered when the original tax was introduced in 2017. Sports drinks sold in supermarkets were found to contain, on average, 20 grams of sugar per 500ml bottle.
The non-fizzy drink AriZona Iced Tea contains 65 grams of sugar – about 16 teaspoons – per 680ml can. The average can costs about Dh6, which would rise to Dh9.
Drinks such as Starbucks Bottled Mocha Frappuccino contain 31g of sugar in 270ml, while Nescafe Mocha in a can contains 15.6g of sugar in a 240ml can.
Flavoured water, long-life fruit juice concentrates, pre-packaged sweetened coffee drinks fall under the ‘sweetened drink’ category
Not taxed:
Freshly squeezed fruit juices, ground coffee beans, tea leaves and pre-prepared flavoured milkshakes do not come under the ‘sweetened drink’ band.
WHAT FANS WILL LOVE ABOUT RUSSIA
FANS WILL LOVE
Uber is ridiculously cheap and, as Diego Saez discovered, mush safer. A 45-minute taxi from Pulova airport to Saint Petersburg’s Nevsky Prospect can cost as little as 500 roubles (Dh30).
FANS WILL LOATHE
Uber policy in Russia is that they can start the fare as soon as they arrive at the pick-up point — and oftentimes they start it even before arriving, or worse never arrive yet charge you anyway.
FANS WILL LOVE
It’s amazing how active Russians are on social media and your accounts will surge should you post while in the country. Throw in a few Cyrillic hashtags and watch your account numbers rocket.
FANS WILL LOATHE
With cold soups, bland dumplings and dried fish, Russian cuisine is not to everybody’s tastebuds. Fortunately, there are plenty Georgian restaurants to choose from, which are both excellent and economical.
FANS WILL LOVE
The World Cup will take place during St Petersburg's White Nights Festival, which means perpetual daylight in a city that genuinely never sleeps. (Think toddlers walking the streets with their grandmothers at 4am.)
FANS WILL LOATHE
The walk from Krestovsky Ostrov metro station to Saint Petersburg Arena on a rainy day makes you wonder why some of the $1.7 billion was not spent on a weather-protected walkway.
Sri Lanka v England
First Test, at Galle
England won by 211
Second Test, at Kandy
England won by 57 runs
Third Test, at Colombo
From Nov 23-27
More on Quran memorisation:
The years Ramadan fell in May
Mohammed bin Zayed Majlis
'Jurassic%20World%20Dominion'
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Match info
Uefa Champions League Group H
Juventus v Valencia, Tuesday, midnight (UAE)
The specs: 2018 Maxus T60
Price, base / as tested: Dh48,000
Engine: 2.4-litre four-cylinder
Power: 136hp @ 1,600rpm
Torque: 360Nm @ 1,600 rpm
Transmission: Five-speed manual
Fuel consumption, combined: 9.1L / 100km
MATCH INFO
Borussia Dortmund 0
Bayern Munich 1 (Kimmich 43')
Man of the match: Joshua Kimmich (Bayern Munich)
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
The candidates
Dr Ayham Ammora, scientist and business executive
Ali Azeem, business leader
Tony Booth, professor of education
Lord Browne, former BP chief executive
Dr Mohamed El-Erian, economist
Professor Wyn Evans, astrophysicist
Dr Mark Mann, scientist
Gina MIller, anti-Brexit campaigner
Lord Smith, former Cabinet minister
Sandi Toksvig, broadcaster
The%20specs
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SCORES
Yorkshire Vikings 144-1 in 12.5 overs
(Tom Kohler 72 not out, Harry Broook 42 not out)
bt Hobart Hurricanes 140-7 in 20 overs
(Caleb Jewell 38, Sean Willis 35, Karl Carver 2-29, Josh Shaw 2-39)
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
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