International Ship News

As oil started to climb, freight followed suit, continuing to feed the already rising global inflation picture, while the U.S. Dollar wore the crown jewel of the week, rising notably against all of the major international ship recycling markets, says cash buyer GMS. At the same time, local steel plate prices saw another volatile week across several recycling destinations as currency fluctuations and domestic demand influenced pricing levels across the Subcontinent.“Behind the broader market volatility lies a challenging reality: assets under pressure…

The second week of February brought on a really confusing spin to the markets, with fundamentals across the board performing bizarrely (compared to last week’s performance), reports cash buyer GMS.“After a volatile beginning to the month, the Baltic Exchange Dry Index and even oil futures found steady ground this week, while even the U.S. Dollar firmed against all ship recycling nation currencies except India (ain’t that a switch), as did local steel plate prices, which also saw India slip the car into reverse and backpedal nearly all of its recent gains.”In an expanded view…

The Ministry of Public Infrastructure and Industries (MPII) reaffirmed that the Palau Open Ship Registry continues to operate normally under the authority of the Government of the Republic of Palau, with all registry services being delivered without interruption through the Bureau of Marine Transportation.Since December 15, 2025, the Bureau of Marine Transportation has ensured the uninterrupted provision of vessel registration, statutory certification, regulatory oversight, and flag-state administration services.

The International Flag-State Association (IFA), an association of the world’s three largest registries—Liberia, the Republic of the Marshall Islands, and the Republic of Panama—has been meeting since 2021. IFA is the first alliance of its kind and was designed to allow its members to have a platform to more formally engage with respect to global challenges, stakeholder insight, and the development and implementation of international instruments to enhance maritime safety, security…

Lloyd’s Register (LR) has been awarded a contract from BAE Systems Maritime Australia (BAESMA) for Naval Classification New Construction Services for the first three Royal Australian Navy Hunter class frigates. The Hunter class frigates are based on the design of the UK Type 26 frigate and are being built at Osborne Naval Shipyard in South Australia.Under the contract, LR will ensure that the design and construction of the anti-submarine warfare frigates are compliant with LR…

Drydocks World, a DP World company, and Cochin Shipyard Limited (CSL) have signed an Agreement of Heads of Terms to evaluate and develop India’s first ship repair cluster at the International Ship Repair Facility (ISRF) in Cochin, Kerala.The MoU was exchanged in the august presence of the Union Minister of Ports, Shipping and Waterways (MoPSW), Shri Sarbananda Sonowal and H.E. Sultan Ahmed bin Sulayem, Group Chairman and Chief Executive Officer of DP World, between Captain Rado Anotolovic…

An advanced design of an ammonia vent treatment system from HD Korea Shipbuilding & Offshore Engineering (HD KSOE) received approval in principle (AIP) from ABS and the Liberian International Ship and Corporate Registry (LISCR).The ammonia vent treatment system integrates compact scrubbers to treat ammonia fuel, which can escape during the purging process, to maintain safe concentration levels before discharge through the vent mast. HD KSOE says this design also minimizes wastewater production. ABS completed design reviews based on class requirements and IMO Interim Guidance.

Lloyd’s Register (LR) has granted Approval in Principle (AiP) to Samsung Heavy Industries (SHI) for the design of a 174,000m³ LNG carrier equipped with Wind Challenger, a wind-assisted propulsion system (WAPS) developed by Mitsui O.S.K. Lines, Ltd. (MOL). The AiP was formally awarded during a ceremony at Gastech 2025. While LNG carriers already operate with comparatively lower carbon emissions than conventional oil-fueled ships, the integration of the Wind Challenger demonstrates the potential to further reduce greenhouse gas (GHG) emissions by harnessing renewable wind energy.

Lloyd’s Register (LR) has awarded Approval in Principle (AiP) to HD Hyundai Heavy Industries (HHI) for a new Very Large Gas Carrier (VLGC) design that features a forward accommodation block and integration of wind assisted propulsion systems (WAPS). The announcement was made during a ceremony at Gastech 2025. By relocating the bridge and accommodation block to the bow, the vessel’s aerodynamic profile is improved, reducing headwind resistance and improving overall propulsion efficiency.

ABS Wavesight™, the ABS-affiliated maritime Software-as-a-Service company, has appointed Captain Steve Bomgardner as Chief Customer Officer (CCO).Bomgardner brings more than 23 years of maritime leadership experience encompassing operations, regulatory compliance and environmental innovation. Most recently, he served as Vice President of Shipping & Offshore Solutions at Pole Star Global, where he directed strategic growth initiatives and oversaw the integration of advanced vessel analytics into established tracking platforms.Prior to his tenure at Pole Star Global…

IMO Secretary-General Arsenio Dominguez has called for vigilance and deeper cooperation among Member States and international partners to address growing threats to global maritime security. Speaking at the United Nations Security Council high-level open debate on August 11, chaired by the President of the Republic of Panama H.E. José Raúl Mulino, Mr. Dominguez outlined the risks facing ships and seafarers as they transport billions of tonnes of goods worldwide. “Our collective response must be rooted in prevention…

The U.S. Virgin Islands (USVI) is involved in a proposal that aims to create a US international ship registry domiciled in the U.S. territory, the island's governor said.President Donald Trump's administration is considering the proposal as part of efforts to enlarge the tiny commercial shipping fleet flying the American flag, sources familiar with the matter told Reuters last week.Using the USVI could be the most efficient way to "strengthen American maritime posture" because…

BIMCO has launched a Ship Recycling Alliance to help accelerate safe and environmentally sound recycling of ships. The alliance will co-ordinate the voices of the ship recycling industry and the shipping industry and help facilitate the global implementation of the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships (HKC).The HKC will enter into force in June 2025. This comes at a time when more than 15,000 ships are estimated to be recycled over the next 10 years and the need for compliant yards from main recycling states such as India…

With supply chain attacks on the rise, and nation-state attackers constantly looking for new ways to disrupt national security and economic stability, one of the most vulnerable areas is the security around our maritime operations. The Biden-Harris Administration's recent Executive Order to fortify the cybersecurity of U.S. ports underscores this concern, spotlighting the urgency of addressing vulnerabilities in a sector that drives over $5.4 trillion in economic activity annually.

DNV has presented HD Hyundai with a general approval for ship application (GASA) for a new high-strength composite hybrid support system for independent tanks on liquefied gas carriers.In a world-first, HD Hyundai’s concept is fabricated with a fusion of carbon fiber-reinforced plastics (CFRP) with a tensile strength 10 times greater than steel, significantly enhancing structural stability.The new system offers robust structural supports, enabling independent tanks to withstand upward force from floatation in case of hold space flooded.

It is sad and worrying that the Frigast committee now proposes to scrap the Danish International Ship Register (DIS) scheme, says Danske Rederier (Danish Shipowners). The organization therefore makes a clear call to the government not to implement the proposal, as it will have major negative consequences for Danish shipping.The so-called Frigast committee published its recommendations for changes to the existing business support schemes this week. Among other things, the committee…

BYD's first chartered vehicle carrier has set sail from China's southern city of Shenzhen, carrying more than 5,000 electric vehicles to Europe, state media Xinhua reported on Tuesday.Chinese automakers including BYD, Chery Automobile and SAIC Motor, have been placing orders for vessels to counter rising shipping costs as they boost exports.The new roll-on, roll-off vehicle carrier named "BYD Explorer No.1" departed on Monday for Flushing Port in the Netherlands and the German port of Bremerhaven…

Lloyd’s Register (LR) has certified Nova Scotia recycling facility, R.J. MacIsaac (RJMI), according to the requirements of the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships.RJMI has become first Canadian facility to be issued a Statement of Compliance (SoC) to the Hong Kong Convention for international ship recycling standards, which is scheduled to enter into force in June 2025.RJMI was required to demonstrate that its environmental protection, workforce safety and emergency preparedness systems surpass the stringent conditions of the convention.

Cash buyer GMS reports that the international ship recycling community is finishing the year with mixed feelings.“On the one hand, we have seen comparatively more deals concluded in 2023 than we did in 2022, with 2022 being the weakest of years over the last decade (in terms of the volume of vessels recycled in a single year).

An attempted hijacking of a commercial vessel in the Gulf of Aden on Sunday appears to have been carried out by armed Somali pirates and not Yemeni Houthis, despite the firing of missiles from Houthi-controlled territory in Yemen afterwards, the Pentagon said on Monday."We're continuing to assess, but initial indications are that these five individuals are Somali," said Pentagon spokesperson Brigadier General Patrick Ryder."Clearly a piracy related incident," Ryder added.A U.S. Navy warship responded to a distress call on Sunday from the chemical tanker Central Park.

A U.S. Navy warship responded to a distress call from a commercial tanker in the Gulf of Aden that had been seized by armed individuals and is now safe, U.S. officials said on Sunday.The tanker, which had been carrying a cargo of phosphoric acid, was identified as the Central Park by the vessel's company. The officials did not identify the attackers.In a statement, the U.S. military said the USS Mason, with help from allied ships, demanded that the commercial ship be released by the attackers. Five armed individuals tried to escape on a fast boat but were chased by the U.S.

Unidentified armed individuals have seized a tanker carrying a cargo of phosphoric acid in the Gulf of Aden on Sunday, the vessel's managing company and a U.S. defence official said.The incident, involving the chemical tanker Central Park, is the latest in a series of attacks in Middle Eastern waters since a brutal war between Israel and the Palestinian militant group Hamas broke out on October 7.It followed a seizure of an Israeli-linked cargo ship by Yemen Houthis, allies of Iran, in the southern Red Sea last week.

The Australian Government has released the report of the Independent Taskforce on the Strategic Fleet, along with its official response to the report, confirming a commitment to delivering a Strategic Fleet of up to 12 vessels that will help Australia build resilience to freight disruptions while supporting our maritime workforce and sovereign capability.Australia’s maritime sector has long been neglected with a shortage of Australian flagged ships and a skilled workforce, says Federal Minister for Infrastructure…