Iran seizes "floating armory" off Fujairah Underscoring the hazards of operations in the Strait of Hormuz region, UKMTO reports that yesterday a vessel was "taken by unauthorized personnel" while at anchor 38 nautical miles northeast of Fujairah and
VIDEO: Leah Talactac succeeds Torstein Hagen as Viking CEO Viking Holdings Ltd (NYSE: VIK) has appointed Leah Talactac, president and CFO, as chief executive officer. Torstein Hagen, chairman and CEO, has been appointed executive chairman and will continue to serve as
Navy awards GD NASSCO $856M for T-AO 217 construction General Dynamics NASSCO reports that it has received funding of $856 million for the construction of T-AO 217. The ship is part of the San Diego shipbuilder's current block buy contract from
Wilson Sons launches new tugboat WS Capella Brazil's Wilson Sons this week held a launching ceremony at its Guarujá, São Paulo, shipyard for WS Capella, the second of three new high-powered tugboats, Like the first in the series WS
How Abu Dhabi could navigate the Gulf's unravelling The Hormuz crisis has forced the UAE into an unwanted strategic reckoning as built on commercial neutrality now finds its ports in Iran's targeting geometry and its options narrower than its global network suggests
Poland steps onto the global maritime stage The Polish Shipping Association's accession to the International Chamber of Shipping marks a calculated move to anchor Poland's booming port infrastructure within the Western maritime governance framework
From silence to ambiguity: Beijing steps into the Hormuz crisis cautiously Xi Jinping's offer to help Trump on Iran marks a shift in China's posture but not the strategic pivot the market may be hoping for. While Trump and Xi met, Iranian officials confirmed that a series of Chinese vessels had transited the Strait of Hormuz following direct discussions between Tehran and Beijing's foreign ministry under what Iran publicly described as 'Iranian management protocols. 'S
ABS grants approval in principle to Samsung for data centre ABS has issued an Approval in Principle certificate to Samsung Heavy Industries for its design of a 50-megawatt floating data centre, marking a significant step in the development of offshore digital infrastructure as demand for data processing capacity continues to grow alongside advances in artificial intelligence. SHI's design leverages a standardised shipbuilding process that integrates desig
Maersk announces operational adjustments to Tango service Maersk has announced a series of updates to its Tango service covering terminal changes, rotation adjustments and port coverage revisions, aimed at improving operational efficiency and schedule reliability. Effective with the Maersk Fortaleza voyage 622S, arriving Jacksonville on June 2, the Tango service will shift its Jacksonville call to Blount Island Terminal. The rotation sequence between Mo
Maersk announced revised import storage tariffs at Rijeka and Koper Maersk announced new import storage tariffs, invoiced as demurrage, for special equipment will take effect from the price calculation date of June 15, 2026, covering inbound cargo at the Port of Rijeka in Croatia and the Port of Koper in Slovenia. Port of Rijeka - Out-of-Gauge Equipment For non-dangerous goods, storage is charged at EUR 20 per 20-foot and EUR 40 per 40 or 45-foot unit for days 1
Port of Montreal commissions new electrical substation The Port of Montreal has officially brought its new electrical substation into service following two years of construction work, completing a key component of the broader CanEst Yard redevelopment project. The initiative relocated the former substation from the CanEst Yard to Yard 42, freeing up valuable operational space while modernising ageing electrical infrastructure. The project was deliver
Valenciaport advances marine renewable energy integration The Port Authority of Valencia is progressing its energy transition agenda through participation in the European RENMARINAS DEMOS project, an initiative supporting research, development and innovation in marine renewable energy technologies. The project aims to promote the sustainable use of clean energy in the maritime sector, contributing to decarbonisation and improved energy efficiency across
Piraeus Port hosts Israeli port and shipbuilding delegation A high-level delegation from Israel's leading port and shipbuilding organisations visited the headquarters of Piraeus Port Authority during the Mare MED III Athens Conference 2026, held in Athens from May 11 to 13 under the auspices of Enterprise Greece. The meeting was led on the Greek side by PPA Deputy CEO Angelos Karakostas and brought together executives from Piraeus Port Authority with seni
DP World advance port of Tartous development DP World Chairman Essa Kazim met with Qutaiba Ahmed Badawi, Chairman of Syria's General Authority for Borders and Customs, in Damascus to review progress on the Port of Tartous development and discuss opportunities for accelerating implementation of the project. The meeting focused on enhancing infrastructure and logistics efficiency to position the port to accommodate anticipated growth in trade
When the oil shock becomes a trade shock As global oil demand heads toward its first annual contraction since the pandemic, the disruption is transmitting into container shipping through five simultaneous vectors and the industry's structural vulnerabilities are amplifying every one of them
ADNOC L&S reports net profit growth ADNOC Logistics and Services delivered a resilient first quarter 2026 performance, recording EBITDA of US$ 368 million, a 7% increase year-on-year, with the EBITDA margin expanding by 5 percentage points to 34%. Net profit rose 20 percent year-on-year to US$ 222 million, reflecting the strength of the company's diversified business model and long-term contracted revenue base. Revenue for the quar
Wärtsilä and Origem Energia Partner on power projects for Brazil's power grid Wärtsilä has signed two equipment supply contracts with Origem Energia for the development of balancing power projects in Brazil, covering the supply of 36 Wärtsilä 34SG engines across two batches of 18 units each. The first order was booked in the first quarter of 2026 and the second in the second quarter, together representing a significant milestone in the companies' long-term partnership. The
Bureau Veritas launches AITrack platform AITrack Solutions by Bureau Veritas has introduced a new Supply Chain Engagement solution designed to help organisations gain deeper visibility into value chain emissions and support more informed decision-making across procurement, product strategy, mitigation planning and sustainability reporting. The solution extends AITrack's existing corporate and product footprinting capabilities, enabling
CMA CGM introduces Peak Season Surcharge on South China and Hong Kong CMA CGM has announced a Peak Season Surcharge applicable to cargo originating from South China and the Hong Kong and Macau Special Administrative Regions, effective May 21, 2026. The surcharge covers all cargo types unless otherwise specified and applies to the following destinations and amounts. Mombasa, Kenya is subject to a surcharge of US$ 300 per TEU. Dar Es Salaam, Tanzania carries a charge
Norwegian LNG owner proposes name change Norwegian gas carrier owner Awilco LNG is looking to rebrand following the departure of long-serving chief executive Jon Skule Storheill. The Oslo-listed LNG shipping company said only several days ago that Storheill and the board had agreed the company should enter its next phase under new leadership, ending a run dating back to Awilco LNG's ...
UK approves 4GW of new offshore wind capacity The UK government has granted planning permits to RWE and Masdar's 3GW Dogger Bank South and SSE and RWE's 1GW North Falls offshore wind farms. The Dogger Bank South project consists of two offshore wind farms - Dogger Bank South West and Dogger Bank South East - and associated offshore and onshore infrastructure, including high-voltage ...
Coal is no longer a dirty word but an energy security asset Coal's obituary may have been written too early. That was the unmistakable conclusion from last month's coal session at Geneva Dry, where shipowners, analysts and operators argued that the escalating Hormuz crisis has radically altered the outlook for seaborne coal and, with it, dry bulk shipping demand. Moderated by Benjamin Wilkes, COO of d'Amico Dry, ...
Yangzhou Guoyu bags fresh containership order haul China's Yangzhou Guoyu Shipbuilding has secured another containership order as the yard continues its comeback push following its restructuring and restart under new ownership. The builder said it has signed a contract with Shanghai Changshun Shipping for six firm 6,150 teu containerships, alongside options for four additional vessels. Financial details and delivery dates were not ...
Solstad wins arbitration over CSV charter dispute Norwegian offshore vessel owner Solstad Offshore has announced it has prevailed in arbitration proceedings over a disputed charter of the Normand Maximus CSV. As a result of the ruling, Solstad Offshore will receive approximately $13m in charter hire. In addition, an interest compensation of approximately $1.5m has been awarded. According to a company statement, the ...
20-year-old LNG vessels become hot property Seven large LNG carriers built between 2005 and 2006 have changed hands since the disruption in the Strait of Hormuz tightened global LNG availability, driving prices higher and forcing Asian buyers to seek alternative supply sources. The buyer behind one of the latest sales has now emerged. Chinese-linked Rising Universe Shipping, managed by Dongtinghu Shipping, ...
Splash Wrap: Iran tightens its control of Hormuz There was no sign of a shipping breakthrough in Hormuz this week. If anything, the strait became more dangerous and closed. Donald Trump has been discussing his war with Iran with Xi Jinping while on a state visit to Beijing. Federal prosecutors filed criminal charges this week against Singapore-based shipmanager Synergy Marine over the 2024 ...
Maritime security enters the Marvel universe in Singapore Taking a leaf out of the IronMan movie franchise, the Singapore Police Force is trialling jetpacks and weaponised drones as part of efforts to strengthen its capabilities in high-risk maritime security operations. The futuristic equipment is being assessed for use by the force's maritime units to help officers board suspicious vessels more rapidly and respond ...
Economou bolsters gas shipping unit with Samsung Heavy newbuilds George Economou-controlled TMS Cardiff Gas has returned to South Korea for another LNG carrier order, booking two newbuildings at Samsung Heavy Industries as the Greek owner continues one of the sector's busiest fleet expansion drives. The yard disclosed a contract worth KRW 750.5bn ($505.6m) for two LNG carriers, putting the price at about $252m per ...
Polish Shipping Association joins International Chamber of Shipping The International Chamber of Shipping has expanded its global membership with the addition of the Polish Shipping Association as a full member. The move will see the Polish Shipping Association join ICS boards and committees, giving Polish shipowners a direct role in shaping international shipping policy on issues including decarbonisation, regulation, safety and digitalisation. The ...
Why flawless steering cannot save a wrong course Every extra mile and every idle hour in port is a 'carbon tax' that a vessel pays with its annual rating. While the industry focuses on engine efficiency, the real battle for the CII rating is won or lost in the chartering office, where the ship's trajectory is decided long before the engine starts, writes ...
Hayfin lines up LNG carrier newbuilds in South Korea London-based investment platform Hayfin Capital Management has returned to the LNG carrier sector with a reported order for two large newbuildings at South Korea's HD Hyundai Heavy Industries. Shipbroking and market sources have linked Hayfin to the order for two 174,000-cbm LNG carriers, with deliveries scheduled by the end of March 2029. Parent company of ...
Box rates up double digits on strong demand and fuel surcharges Container lines need higher freight rates to cover massive fuel bills stemming from the Hormuz crisis. The lines are having...
Shadow gas tankers steam to the fraudulent flag of Angola Angola has emerged as a flag of choice for US-sanctioned gas carriers moving Iranian LPG, with at least 14 LPG...
Genco turns down third Diana offer Diana first bid for the remaining Genco shares it did not own in November last year, which was publicly turned...
Trump and Xi urge opening of Hormuz, but safe passage still depends on nationality As Presidents Trump and Xi agree on the importance of an open Strait of Hormuz and even to increase oil...
Greek shipyard sector dares to dream again The country's top three yards are all full of ships for repair and have visions of greater things to come
International Group reserving $2.85bn for Baltimore bridge claims Dali tops Costa Concordia and Prestige in league table of 10-digit payouts
Two India-bound LPG carriers exit Hormuz as BRICS gathers in New Delhi Crossings come as BRICS foreign ministers gather in New Delhi, with Iran calling on members to condemn US' and Israel's...
Middle East port update: Friday, May 15 In UAE, Ruwais and Abu Dhabi petroleum ports are operational. Ruwais PPA (ISPS Level 2) and Abu Dhabi Ports (ISPS...
UAE confirms second pipeline to bypass Strait of Hormuz Adnoc has confirmed it will double its capacity to export crude oil via a second pipeline bypassing the Strait of...
LNG carrier orders surge as shipowners rush to secure scarce shipyard slots Shipowners are moving quickly to secure remaining 2029 construction slots at South Korean shipyards
Chinese floating armoury taken to Iran for document checks Fishing research vessel Hui Chuan was boarded by 'unauthorised personnel' yesterday and taken to Iranian waters
The Daily View: An industry in limbo
Daily Briefing Cargo war risk buyers receiving raw deal, insurer argues | Greek fleet adapts to conflict-shaped routes and shifting global demand...
Port of Montreal's former commercial chief to return as CEO Paul Bird will be the next chief executive of the Montreal Port Authority as the gateway looks to his infrastructure expertise amid a major expansion project.
Western Canadian ports push IPI advantage to grow Q1 imports from Asia Vancouver and Prince Rupert recorded solid year-on-year gains in the eastbound trans-Pacific as they focused on improving their intermodal efficiency to the interior of Canada and the US.
Verify supply chain IDs, starting with drivers: logistics experts New legislation passed by the US House will help fight cargo crime, but theft prevention starts with identity verification, experts told a Journal of Commerce webcast.
Charleston port looks to develop ro/ro operation at ex-WestRock site SC Ports' board of directors voted Friday to approve a design project to determine how to convert part of a 210-acre parcel next to the North Charleston Terminal into a car carrier operation.
Shipping decarbonization will work best with global rules: MSC CEO The answer to emissions-cutting challenges facing the shipping industry cannot be overlapping regional measures or conflicting systems, Soren Toft told supply chain executives gathered at the IMO.
Asset management giant adds nearly $81m to stake in Jones Act duo Fidelity hikes stake in both Matson and Kirby as share prices touch records
UK investment firm exits Teekay Tankers and CMB.Tech while lifting Zim stake Sagil Capital also sheds most of its Tsakos Energy Navigation shares
International Seaways remains top shipping pick for giant US investor Fidelity Holding in clean product power Scorpio Tankers is cut by 76%
Xi-Trump summit heralds tariff easing plan Beijing outlines tariff-easing framework as ties stabilise after high-stakes talks
Dry bulk ship-to-ship transfers becoming routine, says Intercargo chief Operational shift is tied to emerging mining export regions
Nordic American Tankers unveils $22.5m suezmax fixture Herbjorn Hansson says 'large companies' are continuing to fix company's tankers in strong markets
Genco Shipping in fresh rejection of takeover offer from Diana Two advising banks agree that repackaged tender falls short of owner's NAV of $26-plus
Genco Shipping in fresh rejection of $23.50 per share takeover offer from Diana Two advising banks agree that repackaged tender falls short of owner's NAV of $26-plus
Panama responds to 'unprecedented' number of Chinese ship detentions Flag state says it is committed to communication with clients amid heightened scrutiny
New US liquefaction project Commonwealth LNG gets green light Final investment decision taken on $13bn project due to be in operation by 2030
Turkish owner Arkas adds $75m loan in 'milestone' deal with Asian Development Bank Group says latest financing is part of transaction agreed with World Bank unit last year
Greek owner Stanislas Raspopov offloads clean tanker for profit as buyers keep coming Brokers say MR ships making up lion's share of deals
British financier faces November trial over alleged sanctions busting John Ormerod, 75, faces charges of breaching Russian sanctions rules and money laundering
LPG carrier pair make it through Strait of Hormuz Vessels were carrying much-needed supplies for India's domestic market
'Sensible' secondhand tanker prices are hard to find, says Teekay Tankers boss Kenneth Hvid explains why he went for South Korean resales this week
Longship sees risk for shortsea market as Hormuz closure drags on Higher fuel prices are a concern for Dutch specialist
Precious snaps up second tanker as Italy's DIS sells last older ship MR vessel High Tide is heading to Thai owner's joint venture for $28.45m
Iino Lines profit forecast to plummet from Strait of Hormuz shutdown Softening market conditions will also weigh heavily on Tokyo-listed shipowner's net profits for this year
Okeanis boss Alafouzos eyes VLCC spot prize over contract cover CEO regrets fixing one tanker at a whopping $90,000 per day over 12 months
Law firm CJC recruits and promotes to bolster shipping expertise London-based operation brings in one new managing associate, while moving other lawyers up through the ranks
VLCC period business re-emerges as spot rates slide Reasons for market moves remain complex as supply disruption rolls on
How new Oceanbird boss wants to see wind become shipping's primary power source Wallenius and Alfa Laval joint venture eyes wind-first shipping as demonstrator proves its worth
Thoresen Thai bulk shipping profit more than doubles, backed by strong market demand Owner says TCE rate hit a high of $27,672 per day during first quarter
Taylor Maritime's top team share in payout after sale of 51 ships Owner embarked on second compulsory share buyback to return cash to investors
What just happened at an old Colombian coal port could impact shipping's climate talks Can diplomatic talks of a new fossil fuel treaty influence IMO net-zero stalemate?
Longship sees risk for short sea market as Hormuz closure drags on Higher fuel prices are a concern for short sea specialist
Iran demands documents after floating armoury seizure Security company says there are no reports of crew injuries
Jeff Woyda sells £3.9m of Clarksons shares as part of retirement plan Finance and operations chief is also awarded more performance stock
China presses for Strait of Hormuz reopening as Trump and Xi meet Beijing warns Middle East conflict threatens trade, supply chains and energy stability
VLCC newbuilding prices top $131m as Pan Ocean orders four tankers Contracts take order tally this year past 100 ships
Spanish owner Elcano issues $115m debut bond in Oslo market Transaction 'attracted strong demand'
Thoresen Thai bulk shipping profits more than doubles, backed by strong market demand Bangkok-listed shipowner says time charter equivalent rate hit a high of $27,672 per day during first quarter
Tomini takes newbuild from Japanese tonnage provider to grow its bulker fleet Time charter deal is the latest Japanese tie-up for Dubai player as it pursues asset-light strategy
SONAR Sitrep: Growing freight market raises driver demand, squeezing large carriers The freight market is showing unmistakable signs of recovery, but for large carriers, the good news comes with a significant catch. As van and flatbed volumes surge and rejection rates climb, the very conditions driving optimism are making it increasingly difficult for major fleets to recruit and retain drivers. According to a recent SONAR Sitrep report , van volumes are currently 6.4% above the
New pot of money available to buy ZEV trucks in California California is rolling out yet another program to incentivize the purchase of zero emission vehicles (ZEVs), this one with $1 billion in backing funded by a state clean fuel program. The program will be funded by income from the state's Low Carbon Fuel Standard (LCFS). The LCFS is a system of credits and mandates to incentivize the use of lower-carbon transportation fuels, like renewable diesel. C
Evergreen profit sank 70% in Q1 Evergreen Marine Corp. saw revenue and profits plunge in the first quarter as unspecified higher container volumes were hit by weaker shipping rates. The world's seventh-largest liner ( 2603.TW ) reported consolidated revenue fell more than 21% to $2.75 billion, while net profit after tax of $264 million was off 70% from the same quarter a year ago. Global carriers have struggled with weaker rate
'AI is the new UI': Coupa customers race to automate supply chains LAS VEGAS - Artificial intelligence, digital twins and autonomous supply chain workflows dominated Day 2 discussions at Coupa Inspire 2026 as executives from Coupa, GAF and Sonepar USA described how AI-driven tools are rapidly reshaping procurement, transportation and network optimization. Coupa is a cloud-based, AI-native platform designed for total spend management and supply chain optimization
U.S. in partnership with leading shipbuilding nation The United States is making big plans to revive the domestic shipbuilding sector, and it's reaching out to an ally for help. The U.S. Department of Commerce and the South Korea's Ministry of Trade, Industry and Resources this week signed a Memorandum of Understanding establishing the Korea-U.S. Shipbuilding Partnership Initiative (KUSPI). The new platform strengthens bilateral cooperation in comm
The broker standard of care after Montgomery The freight brokerage industry is entering a new era. Since the Supreme Court's decision in Montgomery, my phone and email have been nonstop with brokers, shippers, insurers, and transportation attorneys all asking the same question: What is now considered the industry standard for vetting a carrier? After spending years advising brokers, building carrier vetting technology, analyzing carrier ris
The U.S. Navy wants to build 15 nuclear-powered battleships The Navy outlined a 30-year plan to order 15 battleships from domestic shipyards by 2055, and more than 80 robot vessels within the next five years. In the plan released this week, the Navy envisions a 450-ship fleet by 2031, including 299 warships, 68 auxiliary ships, and 83 unmanned vessels. The larger, more capable fleet would project more global power, Acting Navy Secretary Hung Cao said in t
The carrier vetting tech stack is the new line of defense in freight Montgomery v. Caribe Transport is a day old and the freight industry is still processing it. Nine to zero. Unanimous. Brokers can be sued for negligent carrier selection. The FAAAA preemption shield is gone. I covered the opinion the day it came down and I have written about the insurance gap, the nuclear verdict landscape, and the history of broker liability that the industry conveniently forgot
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