Occidental reports Gulf of America oil discovery at Bandit prospect Occidental Petroleum Corporation (NYSE: OXY) has announced an oil discovery at the Bandit prospect in the Gulf of America, about 125 miles south of the Louisiana coast. The exploration well, located in
Vale announces first ethanol-powered ocean-going vessel Brazilian mining giant Vale and Chinese shipping company Shandong Shipping Corporation have concluded an agreement for new ethanol-powered Guaibamax vessels, which are scheduled for delivery starting in 2029. The agreement marks a
Port of Baltimore breaks ground on new grain transloading facility The Helen Delich Bentley Port of Baltimore yesterday hosted a groundbreaking ceremony for a new grain transloading facility at the Seagirt Marine Terminal. Under a partnership agreement between Ports America Chesapeake and
VIDEO: Senesco Marine launches and christens new Casco Bay Lines electric ferry Senesco Marine has celebrated the launch and christening of Battery Steele, a 164-foot, double-ended ferry built at its North Kingstown, R.I., shipyard for Casco Bay Lines of Portland, Maine. Designed by Elliott
EDECS and MEDLOG launch landmark dry port project EDECS, a leading regional engineering and contracting group, and MEDLOG, a global logistics company part of the MSC Group, have launched a major dry port project in the 10th of Ramadan City. The project marks a significant step in expanding Egypt's freight capacity and modernizing its trade infrastructure. Spanning 189,000 square meters , the dry port will be delivered under a design-and-build co
Swire Shipping revises local charges in South Korea Swire Shipping has announced a revision to its local charges in South Korea, with the updated fees set to take effect on April 20, 2026, following a review of service-related costs. Under the revised structure, the Documentation Fee (ODF/DDF) will be set at KRW 50,000 per set, while the Seal Fee (SLF) will amount to KRW 10,000. The updated charges will apply to all cargo departing from or arrivin
Cathay Group suspends Middle East operations In response to the ongoing and volatile situation in the Middle East, the Cathay Group has announced the suspension of all regional operations. This decision affects both passenger and freighter services, with rerouting measures already in place for flights transiting the affected airspace. Scope of service suspensions The suspension impacts primary hubs in the United Arab Emirates and Saudi Arab
UTC Overseas expands APAC footprint with Thailand office launch UTC Overseas has opened a new office in Thailand , strengthening its presence in the Asia-Pacific region and advancing its global growth strategy. The new entity, UTC Overseas (Thailand) Co., Ltd., marks the company's latest step in building a stronger regional logistics network. The office will be supported by its team in Singapore, leveraging regional expertise in project forwarding and comple
GetJet Group secures $31M financing to expand fleet GetJet Group has secured $31 million in financing from volofin Capital Management to support its Growth Strategy 2026. Fleet expansion plans The funding will enable the acquisition of up to five narrow-body aircraft. These are expected to join the fleet by Q2 2026. Darius Viltrakis said the move will help meet rising demand for ACMI services and support airline partners. Strengthening partnership
SANY Heavy Industry reports 41% profit growth in 2025 SANY Heavy Industry posted strong financial results for 2025, with net profit rising 41.18% to $1.18 billion . Revenue increased 14.73% year-on-year to $12.49 billion , while operating cash flow reached $2.80 billion , up 34.84% . Growth across all segments All major business segments recorded gains. Excavators, the core business, generated $4.83 billion , up 13.73%. Concrete machinery revenue ro
Explainer: How Djibouti doubles down with a new repair yard As the Middle East slides deeper into conflict, Djibouti has inaugurated the Red Sea's largest ship repair facility a calculated bet that geopolitical turmoil is not a risk to be managed, but a market to be captured
Thenamaris moves into ammonia shipping segment Greek owner Thenamaris has stepped into the very large ammonia carrier segment, placing an order for two 90,000 cu m newbuildings in China. The Nikolas Martinos-led outfit has signed up with Jiangnan Shipyard, with CSSC Trading involved in the deal. Deliveries are scheduled for 2029, marking the owner's first move into the VLAC space. The ...
Great Eastern clears out ageing tankers India's Great Eastern Shipping is moving to offload older tanker tonnage as it continues to reshape its fleet. The Mumbai-listed owner said it has agreed deals to sell two MR product tankers, the 2007-built 48,000 dwt Jag Prakash and the 2003-built 46,000 dwt Jag Panhki. Financial details have not been disclosed. The sales follow a ...
K Line acquires remaining stake in offshore wind joint venture Japanese shipping major Kawasaki Kisen Kaisha (K Line) has taken full control of K Line Wind Service, an offshore wind joint venture held with Kawasaki Kinkai Kisen, a subsidiary of K Line. K Line Wind Service (KWS) was established in 2021, with a view toward the anticipated growth of offshore wind power generation. KWS is ...
Energean cleared to restart gas field off Israel after ceasefire Israel's Ministry of Energy and Infrastructure has allowed the restart of a second natural gas offshore field following the US ceasefire with Iran. The Ministry told UK-based energy company Energean on Thursday to restart the Karish field. This means the restart of production and operations of the Energean Power FPSO. The FPSO has been closed ...
SLB OneSubsea lands Gulf of Mexico subsea boosting deal SLB OneSubsea, a joint venture backed by SLB, Aker Solutions, and Subsea7, has been awarded a contract by Beacon Offshore to deliver a high-pressure, high-temperature (HPHT) multiphase boosting system for the Shenandoah field in the Gulf of Mexico. The award reflects continued investment in deepwater developments, where advanced subsea systems are being applied to improve ...
Splash Wrap: Fragile Hormuz ceasefire fails to lift traffic The tentative ceasefire between the United States and Iran has so far failed to translate into anything resembling a resumption of normal shipping through the Strait of Hormuz, with vessel movements remaining at a near-complete standstill in the 48 hours since the agreement was announced and the strategic waterway still firmly under Iranian military control. ...
Subsea 7 adds $1bn-plus Brazil project to backlog Offshore engineering and services player Subsea 7 has won a contract from Brazil's state-owned giant Petrobras for the development of the Sépia 2 field. The Sépia 2 field is located approximately 280 km southeast of Rio de Janeiro, at a water depth of 2,170 metres in the pre-salt Santos Basin. The field is one of ...
Ethanol enters ore trades as Vale signs for Shandong VLOC newbuilds Brazilian mining giant Vale is pushing ahead with ethanol as a marine fuel, agreeing with China's Shandong Shipping to build what it said will be the first ocean-going vessels powered primarily by ethanol. The deal covers two 325,000 dwt Guaibamax bulkers under 25-year contracts, with deliveries from 2029 and options for further ships. The vessels ...
Toll wars and diverging agendas cloud Hormuz outlook Contradictory signals from Washington and Tehran over who should profit from strait transits have added fresh uncertainty to a waterway that remains largely closed to commercial traffic The Strait of Hormuz crisis enters its eighth week with no meaningful recovery in shipping traffic, as conflicting proposals over transit tolls - from both Washington and Tehran ...
Landlocked Switzerland pushes for seat at Europe's port alliance table Switzerland is stepping up efforts to join the European Union's port alliance, as it looks to strengthen its role in Europe's increasingly security-focused logistics landscape. The alliance, which counts around 200 members including roughly 50 ports, is designed to enhance cooperation across maritime and hinterland networks, with a strong focus on clamping down on illegal ...
Bulk carrier banned from Australia over unpaid wages The Australian Maritime Safety Authority (AMSA) is warning maritime employers that failure to meet minimum standards for seafarers' living and working conditions may result in serious consequences. Employers are required to provide the timely payment of wages, safe accommodation, adequate rest and access to support, in line with their obligations under the Maritime Labour Convention ...
Burning ships, smoke, and the limits of decarbonisation When emissions come from conflict, who pays? Sunil Kapoor investigates. It was a Friday evening. I was still in the office, working late to meet the EU ETS compliance deadline for reporting emissions for the year 2025-ironically for a vessel that had been handed over long ago. There had been endless discussions. Where was the ...
Hormuz crisis could curb box shipping demand but no fallout yet Mainline container shipping indexes remain in a normal range, with spot rates rising in the transpacific and edging down in...
Shadow fleet ships slip back to mainstream trades The reintegration of several ships into compliant trade offers a first glance at what the shadow fleet exit strategy could...
Angelicoussis, Greek shipowners make late plea for IMO to ditch NZF Maria Angelicoussis, and several Greek tanker and gas companies will make a late plea to the IMO to abandon its...
Identity-stealing tanker set to deliver first Iranian crude cargo to India in years A US-sanctioned VLCC with a history of identity theft is set to deliver the first Iranian crude cargo to India...
No mass exodus from Panama registry yet despite China's inspection storm Beijing's port inspection blitz is squeezing Panama-flagged ships harder than ever, but the full impact may yet to unfold
How the Tehran toll booth might - or might not - work Why cryptocurrency bungs to the Islamic Revolutionary Guard Corps isn't such a great idea
Between the straits: risk and adaptation in a splintering world The Hormuz crisis has laid bare what years of tariff wars and geopolitical rivalry were already building: a fundamental rerouting...
Vale charters world's first ethanol-powered bulkers The Brazilian mining giant has signed a 25-year contract with Shandong Shipping Corporation for the construction of the two vessels...
Hong Kong debuts government-backed training scheme to plug green fuel skills gap As the global shipping industry faces a shortage of crew capable of handling highly toxic and flammable alternative fuels, Hong...
The Daily View: A dangerous precedent
Daily Briefing Hormuz uncertainty reigns as tolls, transit schemes and security remain in flux | Marine insurers reprice Gulf war risk cover...
Revised UP-NS merger application will address deficiencies, critics concerns The railroads say they plan to file an updated merger application on April 30, addressing many of the complaints that caused regulators to deem their original application "incomplete."
El Niño forecast suggests risk of low water levels along Panama Canal As if the Strait of Hormuz and Red Sea haven't caused enough concern for commercial shipping, Lars Jensen warns of the potential for weather-related disruptions once again at the canal by year-end.
OOCL posts revenue decline in muted first quarter The start to the year was largely unaffected by the Middle East conflict, but the lagging effect of high bunker fuel prices will be felt from Q2 onwards.
Push for data center bans in US threatens project cargo surge An increasing number of lawmakers at the federal, state, and municipal levels are taking steps to freeze data center development, which serves as an important cargo source.
Cost-hit ocean carriers roll out series of rate increases, fuel surcharges Most of the increases represent a significant premium on current pricing levels, but it remains to be seen how sticky the aspirational rates will be with cargo markets also under pressure from high energy prices.
Growing deepsea miner strikes preliminary deal with US yard in bid to build fleet of ships Merger of Odyssey Marine Exploration and American Ocean Minerals Corp creates $1bn player
Western Bulk warns of war hit on profit with three ships stranded by Hormuz closure High fuel costs and restricted access to cargoes and vessels in the Middle East Gulf will impact profitability, operator said
Hormuz access splits shipping as Singapore and Malaysia diverge Legal principle meets pragmatic access as chokepoint risks reshape shipping choices
Wavelength podcast: Ceasefire confusion in the Middle East Plus, Exmar's new gas carriers, a new Federal Maritime Commission role in the US, and why EU's stalling on biocides is bad for yards
Iran war lighting fuse on LNG supply shock and demand destruction, warns Jefferies Bank says South Asian countries will probably switch back to coal as exports are cut off
How to regain US maritime dominance? MARAD looks to academy students for the answer Maritime administrator launches competition seeking industry change on America's terms
Strait of Hormuz closure piles pressure on fertiliser traders to find solutions Blockage could affect crop planting seasons in Asia and southern hemisphere
Fight over Houthi sinking arrives in US court - with an unexpected litigant Texas doctor pursues Iran, plus Russian and Chinese companies after acquiring claim to Rubymar
Singapore offers fuel flow assurance in energy security pact with Australia Leaders move to secure energy trade in face of supply risks
Thenamaris breaks new ground with debut VLAC order Greek owner orders up to three dual-fuel ships
Clarksons shakes up VLCC rate assessments as war shifts tanker trades Broker will still quote Middle East Gulf to China route, but is recalculating its averages
Chinese state-backed container line sees volumes grow despite Iran war Asia to Europe trade increased in the disrupted first quarter for OOCL
Greek bulker among three European ships to brave Strait of Hormuz since ceasefire Clarksons tallies 11 transits on Thursday, including two ships entering Middle East Gulf
Singapore offers fuel flow assurance in energy security pact with Australia pact Leaders move to secure energy trade as supply risks persist
China and India crack down on substandard shadow fleet ships Detention rates up sharply for sanctioned vessels with Asian oil-buying nations taking the lead
'Significant milestone': Clarksons brokers first boxship futures trade on new ICE index UK broker reports strong engagement in pioneering market
'Mindless pricing' of shipping stocks prompts hedge fund to go short Sissener Canopus is short containers and tankers
Norwegian credit fund bets on CMB.Tech bonds SFL Corp, Golar LNG and International Seaways are among largest holdings
How is Iran war impacting bunker availability? Cargill and Hafnia venture explains Seascale Energy details price rises and operational constraints due to conflict
Saudi giant Aramco offers tanker cargoes from key terminal inside Middle East Gulf Asian refiners asked to submit nominations for May liftings, sources say
Bulker banned for unpaid crew wages, insufficient food and no free drinking water Australian inspectors find a raft of issues as they lock out kamsarmax
Vale inks pioneering order for ethanol-fuelled bulker giants Mining major signs charter deal with Shandong Shipping for two VLOCs and options for more
Shipping stocks fall as Trump hits out at Iran over Hormuz handling Oslo Shipping Index drops as mixed messages over war confuse investors
Chinese port blames finance unit for 82% cash flow plunge Lianyungang says intra-group deposits drove a sharp drop in operating cash flow
India allows sanctioned VLCC to dock with Iranian oil amid energy crisis Veteran LPG carrier also allowed in under waiver
Conflict and sanctions threaten global shipping order, warns world's largest marine insurer Gard's Rolf Thore Roppestad says shipping needs to fight its corner in a turbulent world
'Best' shipping stock: KNOT Offshore upgraded as the need for alternative oil supply rises Share target price lifted to $15 from $10
Strait of Hormuz crossings at near standstill as MOL awaits government guidance Ship tracking shows seven vessels transited the key stretch on Thursday
ICE and Euronext enter the race as container freight futures market heats up After years of stalled progress, could 2026 finally be the breakthrough year for container freight futures?
Saudi shipping giant arrests UOG tanker after Iran War cited for charter cancellation Bahri subsidiary claims Greek company wrongfully used war clause to terminate charter and renegotiate the rate
Cosco puts Hormuz return on hold as liner giant sticks to detours Shanghai-listed liner giant says Middle East revenue exposure remains limited
Beaching isn't the answer to the recycling wave about to crash ashore More recycling capacity will be urgently needed in the years ahead, but reverting to old ways by beaching is not the answer, says Uday Yellapurkar
Contract welder dies in Seatrium shipyard Investigations still ongoing as to the exact cause of death, says Singapore's Ministry of Manpower
Prolonging the poison: International Seaways extends anti-takeover protection Measure first adopted after approach by John Fredriksen extended for three years
Management at fleet payments WEX faces proxy battle An investment company is seeking to dislodge three directors at WEX, a major payments provider for fleets. The company, Impactive Capital Master Fund LP and its affiliates, urged "no" votes last year on three candidates. But those directors ultimately won. This year, Impactive is putting up its own slate of candidates and is targeting three incumbents including current CEO and chairwoman Melissa
For $3 billion, ocean line expands fleet by 250,000 TEUs Evergreen Marine has finalized an order for 11 24,000-TEU container ships, a $3 billion contract split between builders in China and South Korea. The order first announced in 2025 was confirmed in a regulatory filing by Hanwha Ocean of South Korea, according to reports, which will construct six megamax vessels, the largest in operation. It marks the shipyard's first collaboration with Evergreen,
Amazon DSPs in NYC fight for survival against 'no subcontractor' proposal New York-The proposed legislation before the New York City Council that would, among other things, likely force the closure of Amazon's direct service providers (DSPs) in the city with their activities absorbed into Amazon itself was on center stage Thursday at Gotham's City Hall, the day kicking off with loud demonstrations outside by supporters and opponents. But inside the city council chamber
Amazon to scale up drone delivery in 2025, CEO says Amazon will significantly ramp up Prime Air drone capacity this year as part of a multi-pronged initiative to move beyond same-day delivery and deliver e-commerce orders within hours, or even minutes, CEO Andy Jassy said in an annual letter to shareholders on Thursday. Speed is the driving force for Amazon's ( NASDAQ: AMZN ) logistics operation because management says customers are more likely to
Jaxport adds new direct China connection Score another win for a U.S. East Coast port opening a new direct connection to Asia. CMA CGM and its partners in the Ocean Alliance have added a direct container service from China and Asia markets to the Port of Jacksonville, Fla. Operated on a weekly basis, the Chesapeake Bay Express (CBX) is jointly provided by CMA CGM of France, China's Cosco ( 1919.HK ) and subsidiary OOCL, and Evergreen Ma
Meet the product managers leading project44's AI push At Decision44, project44's customer event, the company showcased its new AI agents that promise to collapse the Truth-Decision-Action sequence that contributes so much to lagging and reactive supply chain and logistics operations into a singularity. Product managers spoke about the agents they were building and where they sat in the shipment lifecycle. While the whole team includes Lauren Fitzpat
Fuel shock, Middle East turmoil push global freight rates higher Global freight markets are being reshaped by surging fuel costs and ongoing disruption in the Middle East, even as underlying demand remains relatively soft, according to Flexport's latest Freight Market Update webinar on April 9. Executives said both ocean and air freight are entering Q2 with a widening disconnect between demand and pricing - with rates climbing largely due to cost pressures rat
EV Realty opens major truck charging hub in San Bernardino EV Realty opened its flagship multi-fleet truck charging hub in San Bernardino on Thursday, bringing 76 high-power charging ports and 9.9 MW of grid capacity online in one of the nation's busiest freight corridors. Carriers in the Inland Empire have struggled for years to find infrastructure capable of supporting commercial electrification at scale. This facility is built to change that. It can s
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