Tidewater reports "one of the best years in recent memory" "Although 2025 was anticipated to be a down year for the offshore industry, I am pleased to say that by all measures Tidewater was able to successfully navigate these challenges to deliver
Austal USA launches USNS Lansing: its final EPF Within days of launching its first ship this year, the future USNS Solomon Atkinson (T-ATS 12), on Feb. 25 Austal USA launched the company's second ship in less than a week, the
Cydome: Growing AI use by maritime sharply increases the risk of a cyber attack The speed with which the global maritime industry is adopting AI technology to optimize operations, recruitment and maintenance is leaving the sector open to a swift, autonomous cyber-attack that is almost impossible
Hornbeck Offshore awarded $291.8M Military Sealift Command contract Hornbeck Offshore Operators LLC, Covington, La., has been awarded a $291,794,000 firm-fixed-price Military Sealift Command contract (N3220526C4004) to provide operation and maintenance of four government-owned Transportation Auxiliary General Submarine Escort (T-AGSE) vessels
Op-Ed: Should the maritime industry consider HVO? The maritime industry has entered somewhat of a watershed year when it comes to decarbonization. It could be said that there is some pessimism creeping in after the abandonment of the International
U.S.-flagged Stena Imperative hit following Operation Epic Fury strikes The U.S.-flagged tanker Stena Imperative, which is enrolled in the U.S. Tanker Security Program is one of at least five ships damaged in the wake of U.S. and Israeli strikes on Iran,
Explainer: How Europe's commercial harbours became military targets Belgium's decision to install a NASAMS air defence system at the Port of Antwerp marks more than a national security upgrade. It signals a structural transformation in how governments and the shipping industry understand risk one that is reshaping port infrastructure across the continent
cargo.one acquires Cargofive cargo.one has acquired ocean rate platform Cargofive and unveiled what it describes as the logistics industry's first AI-native operating system for multimodal freight, combining air and ocean rate data into a single platform. The transaction, completed on February 25, significantly expands cargo.one's data infrastructure by integrating Cargofive's ocean rate capabilities, including connections t
Patrick Terminals boosts rail support at Port of Melbourne Patrick Terminals has launched a new initiative to support importers and exporters using rail freight at its PortRail Melbourne terminal. The move reinforces the company's commitment to improving supply chain efficiency and increasing rail volumes at the Port of Melbourne. The initiative complements the Port of Melbourne's recently announced Port Rail Shuttle Network (PRSN) Start-up Incentive. Fr
CMA CGM upgrades Eagle Express 1 Japan-US West Coast Service The CMA CGM Group has enhanced its Eagle Express 1 (EX1) service, reinforcing Japan's trade links with the United States West Coast and expanding its regional service offering. The upgraded EX1, a U.S.-flag weekly service, introduces additional Japanese port calls at Kobe, Nagoya and Yokohama. The improvements aim to deliver faster transit times and greater schedule reliability for shippers movin
Readers Speak: What could derail the Hapag-Lloyd-ZIM merger? Regulatory hurdles and political oversight dominate concerns The potential merger between Hapag-Lloyd and ZIM Integrated Shipping Services has captured industry attention. While earlier polls highlighted the strategic benefits of the acquisition , readers now signal caution. The most pressing worries are regulatory scrutiny and Israel's "golden share" rights, which grant the state a veto over cer
Hapag-Lloyd introduces war risk surcharge for Gulf cargo Hapag-Lloyd will implement a War Risk Surcharge (WRS) for cargo moving to and from the Upper Gulf, Arabian Gulf and Persian Gulf, citing the ongoing security situation around the Strait of Hormuz and resulting operational disruptions. The carrier said the dynamic conditions in the region and necessary routing adjustments are affecting schedules and equipment availability across its network. As a
Hapag-Lloyd reroutes IMX service via Cape of Good Hope Hapag-Lloyd has suspended Trans-Suez sailings on its IMX service and will reroute vessels around the Cape of Good Hope due to the deteriorating security situation in the Middle East and escalating military tensions affecting the Bab el-Mandeb Strait. The decision, taken in coordination with the company's security partners, pauses future Trans-Suez transits for the time being. Until further notice
Global Shipping Groups urge seafarer safety in Strait of Hormuz crisis The International Chamber of Shipping , European Shipowners and the Asian Shipowners' Association have issued a joint statement following the military conflict in the Strait of Hormuz and surrounding region. The organisations expressed deep concern over attacks on seafarers and the reported loss of life. "Our foremost concern is for the wellbeing of the seafarers and civilians affected," the stat
How Iran's missile barrage struck at the heart of global trade Debris from intercepted Iranian strikes ignited a fire at the world's busiest container port, sending shockwaves through supply chains and shattering the UAE's carefully built image as the region's untouchable trade sanctuary
IMO Chief condemns Strait of Hormuz attacks on seafarers The Secretary-General of the International Maritime Organization , Arsenio Dominguez , has expressed deep concern over reported casualties following attacks on merchant vessels in the Strait of Hormuz. Reports indicate at least one fatality and several seafarers injured. "No attack on innocent seafarers or civilian shipping is ever justified," Dominguez said. "These crews are simply doing their j
COSCO SHIPPING LINES issues Gulf navigation advisory COSCO SHIPPING LINES has issued an operational advisory as security concerns escalate in the Middle East and maritime traffic through the Strait of Hormuz faces restrictions. The carrier said it is closely monitoring developments and maintaining communication with relevant authorities, emphasizing that the safety of crews, vessels and cargo remains its highest priority. Under the current measures
ONE suspends bookings to and from Persian Gulf Ocean Network Express (ONE) has temporarily suspended acceptance of new bookings for cargo moving to and from the Persian Gulf, citing the rapidly evolving security situation in the Middle East. The carrier said the measure takes immediate effect and will remain in place until further notice. ONE emphasized that the safety of its seafarers, vessels, landside staff and customers' cargo remains its
CMA CGM suspends Gulf transits CMA CGM has introduced a series of emergency measures in response to the deteriorating security situation in the Middle East and the operational restrictions affecting maritime traffic through the Strait of Hormuz. Iran closes Strait of Hormuz: Carriers abandon the region The group stated that the safety and security of its crews remain its top priority and confirmed that all vessels currently op
Explainer: Why EU keeps Its warships in the Red Sea The extension of Operation ASPIDES to 2027 reflects a calculated European judgment: the conditions that ignited the Red Sea crisis have not been resolved they have merely gone quiet
LOGISTEED and REXEV advance EV truck electrification LOGISTEED and REXEV have initiated a joint demonstration project aimed at accelerating the electrification of logistics operations in Japan, with a focus on optimising energy management for electric truck fleets under real operational conditions. The project introduces EV trucks into LOGISTEED's delivery operations while applying REXEV's energy management and control technologies to improve elect
Lloyd's Register grants approval for hybrid nuclear vessel Lloyd's Register has issued an Approval in Principle for a hybrid nuclear-ready power concept developed jointly with Australian ship design firm Seatransport. The concept integrates nuclear Micro Modular Reactors with conventional diesel-electric systems across two amphibious stern landing vessel designs measuring 73 metres and 90 metres respectively. The approval follows several years of technic
Cosco and OOCL remove Conakry from WMAX service Cosco Shipping Lines (CoscoSL) and OOCL have revised their West Mediterranean-West Africa (WMAX) service by removing Conakry, Guinea, from the rotation, according to DynaLiners. The updated service is now operated by two vessels of approximately 1,800 TEU each, sailing at an average frequency of 18 days. Under the revised itinerary, the WMAX service calls at Valencia, Algeciras, Dakar, Tema, Abid
BAL parent LC Logistics books $236m boxship duo Hong Kong-listed LC Logistics has ordered two 11,000 teu containerships from China in a deal worth about $236m. The vessels will be built by Shanghai Waigaoqiao Shipbuilding in partnership with the trading arm China Shipbuilding Trading Company. The newbuilds are scheduled for delivery by November 30, 2028 and April 30, 2029, respectively. Founded in 2004, ...
MISC lifts Hudong-Zhonghua LNG series Malaysia's MISC has increased its LNG newbuilding programme in China to five vessels after signing for two additional carriers at Hudong-Zhonghua Shipbuilding. The latest order covers a pair of 174,000 cu m newbuilds, which will be chartered to Malaysia's national oil company Petronas under a 20-year contract. The long-term charter initially covered three newbuildings contracted ...
Navigator fixes newbuild financing New York-listed Navigator Holdings has secured a $133.7m loan to finance two liquefied ethylene gas carriers under construction in China. The handysize LPG carrier specialist said subsidiaries Navigator Parsec and Navigator Pleione signed the facility agreement with ABN AMRO Bank, Crédit Agricole Corporate & Investment Bank and Nordea Bank Abp. The loan will fund up ...
Brazilian OSV giants OceanPact and CBO to merge Brazilian offshore vessel owners OceanPact and CBO Group are set to combine their businesses in a move that will mark one of the most significant consolidation moves in Brazil's offshore support vessel market in recent years. The companies said in a regulatory filing that the transaction will be carried out through the incorporation of CBO's ...
Radziwill's CTM adds firepower with new investors Bermuda-domiciled dry bulk operator C Transport Maritime has brought Japan's Tokyo Century Corporation and Norway's Barque onto its register as new shareholders. As part of the deal, both investors have taken equity stakes in the company and appointed representatives to the board. Financial details were not disclosed. CTM will remain majority-owned by Bretta Navigation Corporation, ...
Boa Offshore to transport Ithaca's decommissioned assets Decommissioning specialist AF Offshore Decom has awarded a contract to Norway's Boa Offshore for two float-on and load-in operations. The contract is for Ithaca Energy's FSU Alba and the floating production platform FPF-1. Both units will be dismantled and recycled at AF Environmental Base Vats. Under the contract, Boa will deploy its newbuild, semi-submersible heavy ...
Energy Drilling founder Marcus Chew to step down as CEO Marcus Chew, founder and CEO of Singapore's tender drilling rig specialist Energy Drilling, will step down from his role and will take on the position of executive chairman. Luc Plouzennec, currently the VP of operations and marketing, will take over as CEO. His position will be filled by Chua Yong Chiang, the company's current marketing ...
SeaMar locks in long-term DSV contract with Eni Dutch offshore vessel owner SeaMar has secured a new long-term contract with Eni Energy Netherlands B.V. for its diving support vessel SeaMar Splendid. The contract will start in March and will see the vessel continue to support inspection, repair and maintenance (IRM) work on the Dutch Continental Shelf. The DSV has been working for Eni ...
Offshore infrastructure joins shipping on Iran's expanding target list Iran has reportedly hit an unnamed oil platform and a jackup rig located within the United Arab Emirates part of the Persian Gulf, increasing the number of targets in its offensive. The attack on the platform came after Iran warned all countries in the region to stop supporting military operations by Western forces. According to ...
Iran attacks send shipping into chaos Following the most dangerous weekend for commercial shipping in the Middle East this century, the industry is giving the region a wide berth this week as missiles fly, and ships and ports are hit. The US and Israel went to war with Iran on Saturday, killing the nation's supreme leader, Ayatollah Ali Khamenei, in a ...
VLCC resales outprice newbuilds by record $39.5m Resales of super hot VLCCs now command the greatest premium over newbuilds in the 60-year history of the supertanker, according to data from Clarksons Research. Benchmark TD3C earnings have surged to above $200,000 a day, a level not seen since May 2020, while one-year charter rates are in excess of $130,000 a day, with trading ...
France and Belgium capture product tanker French navy helicopters helped the Belgian armed forces seize a Russian shadow fleet tanker, the Ethera, on Saturday. The sanctioned 2007-built product tanker, which has headed to load in Russia, has since been escorted to the port of Zeebrugge.TankerTrackers.com said the ship is linked to the Iranian figure Mohammad Hossein Shamkhani. His father, Ali Shamkhani, ...
Mainstay Maritime to sell Canadian Lower Lakes arm and six ships to Algoma America's Mainstay Maritime has agreed to sell its three Canadian operating companies and six Canadian-flagged vessels to Algoma Central Corporation. The deal transfers Lower Lakes Towing and associated entities along with the Kaministiqua, Manitoulin, Robert S. Pierson, Saginaw, Michipicoten and Valo to Algoma, subject to customary closing conditions. Mainstay, formerly Rand Logistics, operates
Can shipping avoid an existential tech shock? Maritime digital operations must evolve if they are to survive the asteroid of wider customer expectations on transparency and technology use, write Intent Communications' Namrata Nadkarni and Edward Parshotam. Maritime is often accused of lagging behind other sectors when it comes to seizing the potential of digitalisation and harnessing the power of AI, with a ...
Crude tanker rates in unchartered territory; VLCC index tops $420K The crude tanker market was already historically strong before the US and Israel attacked Iran. After three days of air...
Shipowners weigh up risk of dark Hormuz transits A small minority of tanker owners have already indicated they are ready to transit the Strait of Hormuz at night...
Debt-free StealthGas to focus on larger LPG carriers Greece-based owner posts profits despite loss of earnings from joint-largest vessel
P&I renewal round: The winners and losers Lloyd's List marine insurance editor David Osler assesses the annual P&I renewal round for each set of stakeholders and takes...
Gulf liner trades seize up as carriers retreat from Hormuz and wider disruption looms Container lines are abandoning the Strait of Hormuz at speed, suspending Middle East Gulf services, halting bookings and diverting via...
INFOGRAPHIC: Middle East ports on alert, but still open Most regional ports are open for business, but vessels are avoiding the Strait of Hormuz and airspace remains closed in...
Strait of Hormuz transits collapse as shipping's risk appetite is tested Transits through the crucial chokepoint were down more than 80% compared to last week after vessels were struck and war...
More tanker tonne-mile demand from Asia as refiners look for alternative crude oil sources Russia is another option that is being discussed for China and India, with the Middle East being a key import...
The Week in Charts: Maritime warning zone in place as US and Israel strike Iran | Tankers shun Strait of Hormuz | China's grip on global container trade deepens Lloyd's List's weekly showing of the data and figures behind our news, analysis and markets coverage
LNG supply disruption will be 'immediate and immense' A closure of the Strait of Hormuz to LNG carriers would restrict supplies to Asia and reignite competition for cargoes...
The week in newbuildings: Containership and LNG sectors lead activity Global newbuilding contracting activity slowed sharply last week due to holidays across Asia
Carriers rush to impose war risk surcharges as Middle East crisis deepens With Hormuz effectively frozen, carriers are using surcharges to ration capacity and price the Middle East Gulf risk back into...
Daily Briefing Tankers shun Strait of Hormuz as total vessel traffic plunges | Middle East port suspend operations amid fears of attacks...
TPM26: Middle East conflict to ripple across global trade lanes: industry experts As the war launched by the US and Israel against Iran extends into its third day, about 10% of the global container shipping fleet remains stranded inside the Persian Gulf or held up outside.
TPM26: Unpredictability the 'operating model' for Trump administration: economist The global chief economist for S&P Global Ratings told TPM26 the uncertainties that come with current White House policies are part of the mix when formulating economic forecasts.
TPM26: Iran conflict puts new risk on US economic growth: Yellen The ex-US Treasury Secretary said consumers could pull back on spending should crude oil and gasoline prices remain aloft due to the latest attacks on Iran by the US and Israel.
MSC downgrades India-Europe/Med network amid transshipment cargo lift woes The move comes as transshipment cargo handling declines are expected at Indian ports following a recent government decision to revoke the cabotage waiver that foreign-flag carriers have enjoyed since 2018.
Truckload capacity index moves up as large US carriers shuffle assets Cuts to traditional one-way service have been balanced by additional capacity in dedicated, specialized fleets.
Ultrabulk optimistic after geopolitical challenges fuel first annual loss in eight years Ultranav subsidiary sees continued geopolitical tensions ahead, but 'early indicators' for the year ahead are promising
Strikes kill founder of dark fleet shipping empire who became ayatollah's favourite admiral Ali Shamkhani's death leaves questions about the future of his son's sprawling shipping operation
Dubai-owned tanker on fire as Iran's hit list grows to seven ships Tanker owned by Hessonite Ship Management hit by two drones, Revolutionary Guard claims
Dubai tanker on fire as Iran's hit list grows to seven ships Tanker owned by Hessonite Ship Management hit by two drones, Revolutionary Guard claims
UK revokes sanctions on British shadow fleet financier John Ormerod was preparing to take legal action against the UK government when measures were lifted
Moritz Claussen forges new boxship rates platform with Cargofive takeover UK Cargo.one boosts its shipping capabilities with move for Sebastian Cazajus-led operation
Zurich confirms takeover plan for marine insurer Beazley Industry giant confirms move for London-listed operator before deadline set by regulator
Dubai's shipping community adjusts to new reality under threat of Iranian missiles As Gulf shipping hub comes under attack, no massive repatriation wave is reported
War risk insurers halt Strait of Hormuz cover amid de facto closure Iranian threats lead to effective closure of key shipping chokepoint
MISC ups Chinese LNG carrier newbuilding order to five vessels Ships booked against 20-year contracts with Petronas
Shipping is sleepwalking to a satellite navigation disaster Global satellite navigation interference will cause an Exxon Valdez-style incident unless the world wakes up to the threat
Venture Global boasts of highest available LNG cargoes after Qatari production halt Company talks up value of its own shipping fleet in 'challenging and volatile' market
Offshore majors OceanPact and CBO to merge to form 73-strong fleet Brazilian companies will combine into new entity as sector consolidation rolls on
Venture Global targets over 500 LNG export cargoes in 2026 US producer's Plaquemines shipments send its income soaring
US Navy supply tanker hit by Iranian missile in Bahrain One shipyard worker killed as Iranian missile causes fire on board the Stena Imperative
QatarEnergy halts LNG production after Iranian drone hits Ras Laffan LNG carrier rate assessments jump as market gets jittery
C Transport Maritime secures equity backing from Tokyo Century and Steensland John Michael Radziwill remains majority owner after transaction
Cosco Shipping Lines skips Middle East Gulf amid Iran conflict Chinese shipping giant orders Middle East-bound vessels to slow down, stay put, or seek safe waters
VLCC forward agreements hint at record spot rates as Iran conflict hits freight market Already strong market is set to get stronger, brokers say
World's largest container line halts Middle East bookings as war risk surcharges kick in Escalating threats leave industry expectations for a full Red Sea comeback increasingly remote
QatarEnergy halts LNG production after Iranian drones hit Ras Laffan LNG carrier rate assessments jump as market gets jittery
February proves 'slow month' in alternative fuelling uptake, DNV says LNG dominates on container ships
Iran war leaves laden LNG carriers trapped on 'wrong side' of Strait of Hormuz Cargoes are destined for buyers in India, China and Japan
Klaveness names former Aker investment manager as new board member Mehrdad Amini also worked for DNB and Aker Solutions
Strait of Hormuz chaos snares 9% of VLCC fleet as Middle East conflict revives 'Tanker War' memories Dozens of VLCCs stuck following US-Israel strikes and Iranian retaliation
Drone strike at world's largest oil terminal halts operations Refinery said to have been struck by drone on Monday
Fredriksen adds sale and purchase and investment weight to Frontline board Mikkel Storm Weum becomes new director of VLCC owner
Frontline leads shipping stock rally boosted by Gulf risk premium Fearnley and Arctic keep 'buy' rating, while DNB Carnegie downgrades VLCC owner to 'hold'
Thoresen Thai bucks downward trend in supramaxes with 2025 profit Bangkok-listed shipowner also saw gains from the sale of two veteran supramaxes
Death reported as 'foreign ship' catches fire in Bahrain Authorities had previously blamed Iran for attacking nearby terminal
Maritime insurers pull some war risk coverage after Middle East conflict explodes Clubs announce end to fixed premium and charterers' liability cover on Thursday
Iranian missile strike shuts down Middle East's largest container port Dubai authorities say fire was a result of Iranian attack being intercepted
Tanker and gas stocks set to ride the shock waves as Middle East conflict escalates Experts expect shipping to benefit in the short term
Thousands stranded on cruise ships in the Middle East A prolonged conflict could severely impact cruise lines if ships are unable to leave the Gulf
EU ignores calls to pull Turkish recyclers off approval list, but continues to snub South Asia Update features 41 facilities, including first in Germany
Matson recycles vintage container ship while its sister ship gets life-extending refit Company likely to put third sister through another special survey as it awaits Hanwha Philly newbuildings
Offshore support vessel auction sets new price benchmark for ex-Bourbon tonnage The Bourbon Evolution 805 drew 156 bids before e-hammer fell at $46.5m
Thoresen bucks downward trend in supramaxes as posts profits for 2025 Bangkok-listed shipowner also saw gains from the sale of two veteran supramaxes in the year
Japanese owner Tokei hits jackpot with sale of coveted, eco kamsarmax vessel Serial Indian buyer tied to deal for 12-year-old ship at elevated price
Derek Barrs defends FMCSA's bold moves at TCA ORLANDO-Derek Barrs received a standing ovation when he completed his address to the Truckload Carriers Association (TCA) and it felt completely spontaneous and genuine. The new administrator of the Federal Motor Carrier Safety Administration spoke to his first TCA annual meeting Monday, fiercely defending the steps that the agency and other parts of the federal government have taken to either en
The Iran war, diesel fuel, and a tired infrastructure story On Saturday, the United States and Israel struck Iran. By Monday, Iranian drones had hit Saudi Arabia's Ras Tanura refinery, one of the world's largest, handling 550,000 barrels per day and a key supplier of diesel to European markets. QatarEnergy halted all LNG production. Brent crude surged past $82 a barrel. Tanker traffic through the Strait of Hormuz, which carries roughly 20% of the world's
Wabtec, Progress Rail settle anti-trust lawsuit Progress Rail and Wabtec said they have settled the former's lawsuit alleging the latter engaged in anti-competitive measures after its acquisition of GE Transportation in 2019. Progress Rail, a unit of Caterpillar, claimed Wabtec's 2019 $11 billion acquisition of GE Transportation created a dominant market position in diesel-electric long-haul freight locomotives and components. Progress Rail, w
Feds offering truck drivers $600 to pre-test pilot programs WASHINGTON - The Federal Motor Carrier Safety Administration is calling on a select group of commercial truck drivers who could help shape future hours-of-service regulations. The agency is seeking 18 drivers to participate in a six-week "pre-testing" phase designed to fine-tune two upcoming pilot programs: the Flexible Sleeper Berth and the Split Duty Period. Participants will be paid $600 for c
IKEA deploys mini robot trucks in China for in-store fulfillment IKEA's China subsidiary has begun using self-driving vehicles in Hefei to ferry products from the nearby warehouse to the store for customers to pick up orders and to restock shelves, the retailer said in a news release on Monday. The permanent addition of the electric vehicles followed a successful pilot program during which average customer waiting times were reduced by two-thirds, improving th
New Berkshire CEO: BNSF needs to improve its profitability BNSF Railway needs to close the operating-ratio gap with the other Class I railroads, new Berkshire Hathaway Chief Executive Greg Abel said on Saturday in his first annual letter to shareholders. BNSF ( BRK-B ) continues to perform well from a safety standpoint and has improved its efficiency and service, Abel wrote. "In 2025, shipments spent less time idling at terminals and moved through the ne
World's largest shipping line suspends all cargo to Middle East Leading container carrier Mediterranean Shipping Co. on Monday said it was suspending all cargo bookings to the Middle East. The move by the world's largest liner operator marks a significant commercial reaction to the military situation that has escalated since the United States and Israel attacked Iran on Saturday. "As a precautionary measure, MSC has suspended all bookings for worldwide cargo
After Supreme Court tariff ruling, small businesses face fresh uncertainty Small and medium-sized businesses are navigating a new wave of uncertainty following the Supreme Court's recent decision on tariffs - and in some ways, the ruling has made planning even harder, according to executives at supply chain software firm Netstock . While the decision struck down certain tariffs, it also opened the door to temporary measures and potential new levies, creating what Barry
U.S.-flag bulk tanker attacked in Bahrain A bulk tanker sailing under the American flag was hit by projectiles at Bahrain port, the first U.S. merchant ship to come under fire in the Iran war. The crew evacuated and there were no reported injuries aboard the Stena Imperative. One shipyard worker was killed in the attack, Reuters reported. The incident marks a widening of the conflict since Israel and the United States attacked Iran Feb.
Inside a call with a freight scammer: the moment a stolen load was confirmed Freight fraud rarely begins with obvious deception. It begins with conversation. A phone call over the weekend provided an unusually direct window into how modern freight fraud operations are functioning today. The discussion started like thousands of routine freight calls that occur across the industry every day. A name was introduced; a shipment lane was referenced and there was discussion of a
New UPS revenue helps Cargojet overcome loss of China e-commerce volume Flying for UPS and redeploying the fleet to areas like South America where demand is strong helped Canadian all-cargo airline Cargojet mitigate the loss of a large transport contract related to plunging e-commerce trade from China to North America, caused by U.S. tariffs, and a 32% decrease in fourth-quarter charter revenue. UPS ( NYSE: UPS ), and FedEx to a lesser degree, engaged Cargojet ( TSX:
Ocean lines flee Strait of Hormuz as Iran targets Persian Gulf ports While tanker vessels came under fire in the Strait of Hormuz, container lines were suspending operations to Persian Gulf ports following the joint Israel-U.S. attack on Iran. Media reports said ports in the United Arab Emirates and Dubai's port of Jebel Ali were hit by Iranian missiles, and that Tehran had attacked at least three tankers in the strait. A fire began at Jebel Ali after an incoming
Oil climbs in early trading, diesel rising more than crude Oil prices soared in the first few hours of trading Sunday evening U.S. time, the first opportunity to react to the U.S. and Israeli attacks on Iran and the latter country's response, with diesel prices moving higher at a faster rate than both crude and gasoline. Such a move would be expected given the fact that the heavier crudes that are exported out of countries like Iran and Saudi Arabia, and
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