Overall News

Unlike larger jackup regions where scale provides greater flexibility, relatively minor changes in supply can have an outsized impact. The availability, reactivation, or retirement of a single rig can materially shift utilisation levels, dayrate negotiations, and contracting dynamics, often with limited visibility.There are currently five jackups drilling in the region, operating across Turkmenistan, Azerbaijan, and Iran. Several of these units are contracted into 2026 and beyond, which is meaningful in a market of this size.© EsgianDespite this coverage, active supply remains constrained.

The American Club has reported positive developments for the 2026 renewal across all lines of business. Gross tonnage for the Club’s Class I (mutual P&I) entries increased modestly at the turn of the renewal at Noon GMT 20 February 2026, while the tonnage position since the 2025 renewal has increased by 5% and over the same period, Class I premiums have grown by 6%. The Club’s Class II (mutual FD&D) and Class III (charterers’ liability) portfolio were renewed for 2026 on a similar basis.Eagle Ocean Marine…

NorthStandard has published a new white paper focusing on the accelerating adoption of biofuels in commercial shipping. ‘Biofuels – Driving the green transition’ brings together insights from NorthStandard, supplier World Fuel and leading testing agency Veritas Petroleum Services (VPS), in a unique discussion document outlining biofuel uptake, potential issues and loss prevention measures. Many owner-operators who seek a drop-in solution to drive maritime decarbonization choose biofuel blends.

To offer U.S. fabricators access to advanced welding processes that improve performance and profitability, ESAB has collaborated with distributor Linde Gas & Equipment to sell welding technology from German manufacturer EWM in North America. Linde will feature EWM’s Titan XQ 500 puls, Titan XQ 400 puls and Phoenix XQ 505 puls multiprocess/pulsing welding systems at CONEXPO-CON/AGG 2026 in booth S63335, South Hall, Level 1.Manufacturers of construction, mining, aggregate and agricultural equipment especially benefit from the welding processes found in EWM machines…

Swiss marine power company WinGD has completed both Type Approval Testing (TAT) and Factory Acceptance Testing (FAT) of its ammonia-fueled two-stroke marine engine, marking a milestone in efforts to decarbonize shipping.The test programs were completed in January 2026 on the X52DF-A-1.0 engine at HD Hyundai Heavy Industries’ Engine & Machinery (HHI-EMD) facility in South Korea. The tests were witnessed by classification society Lloyd’s Register together with representatives from major classification societies…

All American Marine (AAM) is currently constructing a sister ship to the Chugach Express for Phillips Cruises & Tours.Building on the proven performance of the Chugach Express, the new high-speed, long-range eco-tour vessel will operate daily in Prince William Sound and be homeported in Whittier, Alaska. Developed by Nic de Waal of Teknicraft Design, this 84.5’ x 30.7’ aluminum passenger vessel features a semi-displacement catamaran hull.Equipped with a propulsion package comprised of four MJP 350X Waterjets…

A new insight brief by the UCL Shipping and Oceans Research Group for the Getting to Zero coalition, titled "Uncertainty at the IMO: Three scenarios and their consequences for shipping’s transition”, concludes that of those options only the ‘as is’ (Net Zero Framework as agreed in principle in April 2025) has the potential to provide a credible, stable demand signal and revenue stream to support early and mass-market uptake of scalable zero-emission fuels.Weaker alternatives risk delaying scalable zero-emission fuel availability into the 2040s…

Long-distance ferry routes form a key part of Japan’s national transport infrastructure, connecting the archipelago’s four major islands and littoral centers of population, commerce and industry.RoRo passenger (RoPax) ferry fleet renewal and development has been a constant process over the past two decades in particular, driven largely by freight demand in combination with the pursuit of cost efficiencies and in response to new legislative edicts and rising customer expectations.

AS Tallink Grupp has published its unaudited financial results for the 2025 financial year. The Group’s earnings before interest, taxes, depreciation and amortization (EBITDA) totaled EUR 130 million, and net profit reached EUR 17.3 million. Tallink Grupp and its subsidiaries contributed EUR 97 million in taxes to the Estonian state budget, and the company plans to continue paying dividends in the current year. Nearly 5.5 million passengers traveled on Tallink vessels last year.“Just like in recent years, 2025 was filled with challenges.

The IMO's Sub-Committee on Pollution Prevention and Response held its 13th session at IMO Headquarters in London from 9 to 13 February 2026.Outcomes include:Groundwork laid for future legally binding framework on biofoulingFollowing the decision of MEPC 83 to develop a legally binding framework on biofouling management to prevent the spread of invasive aquatic species, the Sub-Committee agreed some fundamental elements that will guide this work. These include the recommendation for the framework to take the form of a standalone instrument…

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…

Marine fuel sales at the world's largest bunker hub of Singapore posted a strong start to 2026, driven by healthy demand and higher price premiums, based on port data and trade sources.January 2026 volumes totalled 5.23 million metric tons, up 16.5% year-on-year (YoY), though easing from the record monthly highs of 5.51 million tons in December, data from the Maritime and Port Authority of Singapore (MPA) showed.Container throughput at Singapore dipped 0.7% from the prior month to 3.89 million twenty-foot equivalent units (TEUs) in January, while vessel calls for bunkering held firm, climbing

Russian wheat export prices rose last week as weather conditions continued to seriously hamper shipments from the country's southern ports, analysts said.The price of Russian wheat with 12.5% protein content for free-on-board (FOB) delivery in the second half of March was $233.0 a metric ton at the end of last week, up $2 compared to the previous week, said Dmitry Rylko, head of the IKAR consultancy.Weather conditions significantly limited shipments from Russia's southern ports in January.

Marine fuel sales at the world's largest bunker hub of Singapore posted a strong start to 2026, driven by healthy demand and higher price premiums, based on port data and trade sources.January 2026 volumes totalled 5.23 million metric tons, up 16.5% year-on-year, though easing from the record monthly highs of 5.51 million tons in December, data from the Maritime and Port Authority of Singapore (MPA) showed.Container throughput at Singapore dipped 0.7% from the prior month to 3.89 million twenty-foot equivalent units (TEUs) in January…

The shipping industry's biggest players are shrugging off Trump administration opposition to a global carbon price and are forging ahead with billions of dollars in emissions-reducing investments, according to company officials and a Reuters analysis of data.Europe, Brazil and a host of other nations are pushing the sector, which is responsible for nearly 3% of the world's greenhouse gas emissions, to go green. But, in October, the U.S. and Saudi Arabia, the world's two largest oil producers…

The shipping industry's biggest players are shrugging off Trump administration opposition to a global carbon price and are forging ahead with billions of dollars in emissions-reducing investments, according to company officials and a Reuters analysis of data.Europe, Brazil and a host of other nations are pushing the sector, which is responsible for nearly 3% of the world's greenhouse gas emissions, to go green. But, in October, the U.S. and Saudi Arabia, the world's two largest oil producers…

"During the first six weeks of 2026, global bulk grain shipments have jumped 15% y/y, supported by a 30% y/y surge in soya bean shipments and a 17% increase in wheat shipments. Record harvests in the Southern Hemisphere are boosting exports while North America has continued to ship its high export surplus. The trade agreement between the US and China further boosted volumes, contributing to a 26% y/y increase in US soya bean shipments and a resumption of sorghum shipments,“ says Filipe Gouveia, Shipping Analysis Manager, BIMCO.Weather conditions in the Southern Hemisphere have been favourable. Brazil’s ongoing soya bean harvest is expected to rise 5% y/y, reaching a record high of 180m tonnes, equivalent to 42% of the world’s production, according to the US Department of Agriculture.

NYK Bulk & Projects Carriers (NBP), a member of the NYK Group, has operated a methanol dual-fuel bulk carrier using low-carbon methanol fuel for the transportation of copper concentrate for BHP Group, achieving an approximately 65% reduction in greenhouse gas (GHG) emissions on a well-to-wake basis compared to conventional fuel.The initiative marks what the NYK Group said is the world’s first use of low-carbon methanol fuel on an oceangoing bulk carrier, based on its research.The vessel, Green Future, was delivered in May 2025 as the NYK Group’s first methanol dual-fuel bulk carrier.

Bureau Veritas Marine & Offshore (BV) has granted an Approval in Principle (AiP) to Greenroom Robotics for its maritime autonomy software, GAMA. This is the first time a maritime autonomy software, enabling self-navigation has been granted AiP by Bureau Veritas, marking an advancement for maritime robotics and autonomous operations.Greenroom’s GAMA software employs AI to create a fully autonomous navigation system. By doing so, it integrates data from multiple onboard sensors to support situational awareness…

Turkish tugboat builder Sanmar Shipyards has further reinforced its partnership with SAAM Towage through the delivery of a Boğaçay-Class tug that will operate in Latin America.The vessel, which has been named SAAM GUANAY, is based on the RAmparts 2400SX-MKII design by Canadian naval architects Robert Allan Ltd and becomes the 13th Sanmar-built tug in the SAAM Towage fleet.Designed for optimum performance in ship-handling operations, the tug measures 24.4m in length, with a 12m beam, 4.5m molded depth, and a 5.45m draft.

In a major milestone for Auckland’s public transport network, the city’s first plug-in hybrid electric fast ferry has performed exceptionally on sea trials and will soon enter service on the busy Auckland to Devonport commuter route. The vessel achieved a top speed of 36 knots on all-electric mode, with the performance of the electric propulsion and onboard systems consistently meeting and surpassing expectations.Designed by Incat Crowther, built by Q-West Boat Builders with systems integration by Hamilton Jet…

Mitsui O.S.K. Lines (MOL) has taken delivery of a new liquefied petroleum gas (LPG) dual-fuel very large gas carrier (VLGC), Energia Grandeur.The vessel was ordered by MOL group company MOL Energia from Hyundai Samho Heavy Industries, with delivery taking place off Mokpo port in South Korea on January 29, 2026.Energia Grandeur will operate under a time charter contract for CSSA Chartering and Shipping Services SA, a subsidiary of TotalEnergies.The vessel is a dual-fuel carrier capable of operating on LPG and heavy fuel oil.

With a growing focus on mitigating climate change and progressing toward the International Maritime Organization’s (IMO) 2050 net-zero target, the marine sector is under intense pressure to decarbonize. Today, maritime transport emits nearly one billion tons of CO2 annually, representing roughly 2-3% of all energy-related carbon emissions worldwide .Substantial progress has been made over the past decade in reducing emissions from small commercial and coastal vessels via all-electric and diesel-electric propulsion (DEP) systems.