US Will Reinsure Maritime Losses in Gulf Region Up to $20b
The U.S. will provide reinsurance for losses up to $20 billion in the Gulf region, to help provide confidence for oil and gas shippers during the war on Iran, the U.S. International Development Finance Corporation said on Friday.President Donald Trump on Tuesday ordered the DFC to provide political risk insurance and financial guarantees for maritime trade in the Gulf after oil and liquefied natural gas tanker transit had ground to a halt in the Strait of Hormuz waterway off Iran…
Swedish Coast Guard Boards Vessel Suspected of Being Stateless in the Baltic Sea
The Swedish coast guard said it boarded and took control of a suspected stateless vessel in Swedish waters of the Baltic Sea on Friday, and it was carrying out investigations on the ship."At 3:50 p.m. today, the Coast Guard took control of a vessel with unclear flag status and thus suspected of being a stateless vessel," it said in a statement, adding that the boarding had taken place off the coast of the southern Swedish town Trelleborg.The ship Caffa was sailing under a Guinean flag…
Russian Urals Prices Tops Brent in Indian Market for the First Time
Russian flagship Urals oil is selling at a premium to the Brent international benchmark at delivery in Indian ports for the first time ever, fuelled by rising demand due to the Iran war, traders said on Friday.The U.S.-Israeli war against Iran, which began a week ago, has choked the Strait of Hormuz, the main route for global oil.Russian oil had traded at a discount of several U.S. dollars per barrel…
Island Marine Electric Names Doug Bennis as Vice President of Sales & Marketing
Island Marine Electric has appointed marine technology sales veteran Doug Bennis as Vice President of Sales & Marketing.Bennis brings experience in the maritime and satellite communications industries, where he has led global sales initiatives, developed strategic channel partnerships, and driven revenue growth across commercial and recreational marine markets. With a career rooted in marine connectivity and technology solutions…
Maritime Insurance Surges as Iran Conflict Expands
As the conflict in the Gulf widens, maritime insurance premiums for war coverage are surging -- in some cases by more than 1000% -- dramatically driving up the cost of moving energy through a critical maritime corridor.The conflagration sparked by Saturday's Israeli-U.S. air strikes against Tehran has paralyzed traffic through the Strait of Hormuz, a major shipping chokepoint. Iran on Monday said it would fire on any ship trying to pass…
Asian Oil Refineries, Petrochemicals Cut Runs as MidEast Conflict Escalates
Several Asian refineries and petrochemical companies were forced to cut runs and declare force majeure as the U.S.-Israel war on Iran disrupted crude and feedstock exports from the Middle East.Asian steam crackers, which source more than 60% of their naphtha feedstock from the Middle East, have been quick to declare force majeure on petrochemical supplies to customers.Three operators told Reuters they…
Sanmar Delivers Four Electric Tugs to BOTAĹž
Sanmar has held a ceremony to mark the delivery of four of its fully electric ElectRA tugboats to Türkiye’s state-owned crude oil and natural gas pipelines and trading company, BOTAĹž.The four eco-friendly, emissions-free harbor tugs are based on the exclusive-to-Sanmar ElectRA 2500SX design from Canadian naval architects Robert Allan Ltd. They will operate at the BOTAĹž Marmara EreÄźlisi LNG Terminal and the BOTAĹž Saros FSRU Terminal…
Congressman Mike Ezell Receives AAPA’s 2026 Port Person of the Year Award
At this year’s annual Legislative Summit, the American Association of Port Authorities (AAPA) proudly named U.S. Representative Mike Ezell (MS-04) as the 2026 Port Person of the Year for his commitment to the seaport and maritime industry. AAPA celebrates his leadership as a champion of many port industry priorities, including his advocacy for the Water Resources Development Act of 2026 and his efforts…
Obituary: Don O’Keeffe, Naval Architect
Burger Boat Company announced the passing of longtime Burger Naval Architect Don O’Keeffe, whose influence on the company’s engineering excellence and yacht design legacy spanned decades. O’Keefe passed away at his home in Manitowoc, Wisconsin this week at the age of 90.O’Keeffe was widely respected for his exceptional technical expertise, quiet leadership, and unwavering commitment to sound naval architecture.
Designing the Quiet Vessel: Attention Noise and Vibration on Day One
Owning and operating a quiet boat offers many benefits, from crew comfort and retention to efficient, safe operations. While the benefits are clear, it’s generally not the first line of design and concern for most vessel owners.Noise is a funny thing in the marine world: it’s invisible, it sneaks up on you, and it’s usually not the headline item on a newbuild spec sheet, until you’re standing in the pilothouse…
Maritime Risk Symposium 2026: Confronting Emerging Threats
The maritime domain has always been central to global stability and our nation’s prosperity. In today’s rapidly evolving security environment, its importance has never been more pronounced – or more vulnerable. Over ninety percent of global trade moves across the world’s oceans, making maritime transportation the backbone of international commerce, energy distribution, and economic resilience. Yet this vast ecosystem faces escalating risks including geopolitical tensions…
Deutsche Offshore Schifffahrt Starts Construction of C-CSOV Fleet in China
Deutsche Offshore Schifffahrt (DO) has started construction of a new fleet of construction commissioning service operation vessels (C-CSOVs), with the first steel cut for the lead vessel DO Joule at CSSC Huangpu Wenchong Shipyard in Guangzhou, China.The vessel is the first in a series of four ships ordered by Schoeller Holdings, with all vessels to be built to identical specifications.Columbia Shipmanagement will provide technical management of the vessels…
Qatar Offers LNG Tankers for Lease as Export Plant Remains Shut
Qatar is offering at least two liquefied natural gas tankers that it controls for lease, as the country’s massive export facility in the Gulf remains shut due to the ongoing war in the Middle East, Bloomberg News reported on Friday.The Al Thumama and Mesaieed, both of which are under long-term charter by state-owned QatarEnergy, are being offered to the market, the report said citing traders with knowledge of the matter.Reuters could not immediately verify the report.(Reuters - Reporting by Devi
Maersk Pauses Key Shipping Routes Over Middle East Security Risks
Maersk, one of the world's biggest container shipping groups, said on Friday it has temporarily suspended two services linking the Middle East to Asia and Europe as the Iran conflict continues to disrupt global supply chains.The Danish group said in a statement it would halt its FM1 service connecting the Far East to the Middle East and its ME11 service linking the Middle East to Europe"This decision has been taken as a precautionary measure to ensure the safety of our personnel and vessels whil
CK Hutchison Challenges Panama’s Port Seizure in Court
Hong Kong conglomerate CK Hutchison said on Friday it has escalated its legal fight in Panama after the government seized its port operations, petitioning for a review of the decree behind the takeover.The company said Panama unlawfully occupied facilities, seized property and ignored consultations, prompting further national and international legal action.CK Hutchison's Panama Ports Company (PPC)…
Over 50 French Ships Stuck in Gulf Waters, Minister Says
Around 50 French ships are currently blocked in the Persian Gulf and another eight in the Red Sea, France's Transport Minister Philippe Tabarot said on Friday, as Paris seeks support to build a coalition of countries to secure shipping traffic in the region."There are around fifty ships - 52 to be precise - in the Persian Gulf and eight in the Red Sea, and we are also in permanent contact with the crews, as there are French sailors aboard a number of these vessels," Tabarot told French broadcast
Cobots Take on Grueling Work
In the February issue of Maritime Reporter magazine Nirav Patel, Nuclear Navy Segment Director at Fairbanks Morse Defense, takes a look at the cobots (cooperative robots) that are being used for welding in the ship repair industry.He explains: “As a long-time principal supplier of propulsion systems for the U.S. nuclear navy, FMD is responsible for sustainment of a fleet of diesel engines that provide emergency backup power to onboard nuclear reactors.
Fertilizer Prices Surge
The world's farmers face soaring fertiliser and fuel prices as the war in the Middle East escalates, leaving some scrambling for supplies as the spring planting season approaches.The war, which has closed the Strait of Hormuz, has shut down fertiliser plants in the region and severely disrupted shipping routes, potentially curbing supplies to key importers around the world just as farmers in the Northern Hemisphere prepare to plant seeds."It's a mess because it's spring…
China in Talks with Iran on Safe Passage
China is in talks with Iran to allow crude oil and Qatari liquefied natural gas vessels safe passage through the Strait of Hormuz as the U.S.-Israeli war on Tehran intensifies, three diplomatic sources told Reuters.The war, which entered its sixth day on Thursday, has left the critical shipping passageway all-but shut, with countries around the world cut off from a fifth of global oil and liquefied natural gas supplies.China…
GTT Receives Samsung Heavy Industries Order for LNG Carrier Tank Design
GTT announces that it has received, in the first quarter of 2026, an order from the shipyard Samsung Heavy Industries for the tank design of one new Liquefied Natural Gas Carrier (LNGC) on behalf of a European ship-owner.GTT will design the cryogenic tanks of the vessel, which will provide a total capacity of 180,000 m³. The tanks will be fitted with GTT’s Mark III Flex membrane containment system.Delivery of the vessel is expected in 2028.
