Iran Strikes Back After US Military Destroys Five Oil Tankers
The Middle East war intensified on Tuesday with Iranian-backed Houthis in Yemen launching strikes on several Saudi cities, further embroiling a U.S. ally in the conflict, while U.S. forces hit multiple Iranian oil tankers and Iran targeted a U.S. base in Jordan.The Houthis attacked four cities in the south of Saudi Arabia, wounding 73 people and setting oil installations ablaze in what appeared to…
Wheat Prices Rise After US Diplomatic Attempts Falter
Chicago wheat futures jumped on Tuesday as hopes faded for a U.S. diplomatic effort to end the war in Ukraine, which has disrupted Black Sea grain shipments, analysts and traders said.Corn and soybean futures chopped up and down as traders adjusted positions ahead of Friday's U.S. Department of Agriculture supply and demand report.The most-traded wheat contract on the Chicago Board of Trade was 4-3/4 cents higher to $7.38-3/4 per bushelas of 11:00 a.m. CT (1600 GMT).
Oil Prices Reach Six-Week High
Oil prices rose to a six-week high on Tuesday after Iran-backed Houthis in Yemen attacked Saudi energy facilities, setting oil installations ablaze and threatening a major expansion of the six-month-old Middle East war.Brent crude futures rose 70 cents, or 0.7%, to $97.70 a barrel at 10:56 a.m. EDT (1456 GMT), while U.S. West Texas Intermediate (WTI) crude rose $1.21, or 1.3%, to $92.69. That puts…
Greece to Buy Two Frigates From Italy
Greece finalised a deal on Tuesday for the purchase of two Bergamini class frigates from Italy, its defence ministry said, as the NATO country looks to modernise its armed forces.Greece agreed last year a plan to buy the two used Bergamini class frigates from Italy and kept an option to buy two more.Defence Minister Nikos Dendias and Italian counterpart Guido Crosetto the "implementing arrangement" in Rome, the Greek defence ministry said in a statement.It did not give the value of the transacti
73 Injured as Houthis Attack Four Saudi Cities
Yemen's Tehran-backed Houthis attacked four cities in the south of U.S. ally Saudi Arabia on Tuesday, wounding more than 70 people and setting oil installations ablaze in what appeared to be a major expansion of the six-month-old Middle East war.The Houthis, who control most of Yemen's populated areas including the capital, said they had launched a broad operation deep into Saudi territory. They used drones and missiles to strike a Saudi airbase in the southern city of Khamis Mushait…
Lumitec Enhances Poco Digital Lighting Control System
Lumitec, a designer and manufacturer of environment LED lighting solutions, has announced a new enhancement to its Poco Digital Lighting Control system, the Channel Expander Feature.This latest addition expands system flexibility and scalability, empowering boat builders, integrators, and vessel owners to manage more complex lighting configurations with ease.At the core of this update is the ability for Poco modules to communicate over a NMEA 2000-based network…
New Pacific Launches Shipbuilding Program With Two Tugboats for American Marine Corporation
New Pacific Industrial (NP) has launched its first shipbuilding program with the construction of two 122-foot American Class tugboats for American Marine Corporation (AMC) at its Vancouver, Washington waterfront facility. Designed by naval architecture and marine engineering firm Glosten, the vessels also represent American Marine's first new tugboat construction as the company marks 50 years in business.Glosten is providing the vessel design and engineering package based on its CT-120…
Hapag-Lloyd Revising $4.2B ZIM Offer to Address Israeli Concerns
Hapag-Lloyd is working with the Israeli government on improvements to its proposed $4.2 billion cash purchase of ZIM Integrated Shipping Services, the German shipping group said on Monday.The proposed deal has faced heavy opposition in Israel, including ZIM's workers, Defence Minister Israel Katz and other government officials, who argue that it undermines national security by transferring Israel's…
Inmarsat’s NexusWave Earns Bureau Veritas Cyber Certification
Inmarsat Maritime, a Viasat company, has secured Cyber Security Type Approval from Bureau Veritas (BV) for its NexusWave multi-network maritime connectivity service, following an assessment against the International Association of Classification Societies' (IACS) Unified Requirement E27.The approval follows a ClassNK Cyber Security Type Approval against the same IACS requirement earlier in 2026, adding…
Kongsberg Maritime to Acquire Finnish Propulsion Specialist Steerprop
Kongsberg Maritime has entered into an agreement to acquire Finnish azimuth propulsion specialist Steerprop, strengthening its position in the Arctic and high ice-class vessel market.Steerprop designs and manufactures azimuth propulsion systems for icebreakers, polar research vessels, offshore support vessels and other demanding applications. It has an installed base of more than 400 vessels globally and a significant order backlog…
Oil Jumps as Houthi Strikes Disrupt Saudi Energy Operations
Oil prices hit multi-week highs on Tuesday after Iran-backed Houthis attacked Saudi energy facilities and Tehran threatened the United States with "economic warfare".Brent crude futures LCOc1 were up $2.00, or 2.06%, at $99.00 a barrel by 0800 GMT. U.S. West Texas Intermediate crude CLc1 was at $94.41 a barrel, up $2.93, or 3.2%.Brent earlier rose to as much as $99.22 a barrel, its highest since July 24…
Iran Raises Stakes with Gulf Exclusion Zone and Missile Warning
Iran threatened the United States with "economic warfare" on Tuesday and said it had fired an advanced missile at U.S. warships, underscoring the risks of further escalation in the war only days after both sides traded blows again.The six-month-old war has been marked by a cycle of pauses followed by periodic flare-ups, with the U.S. last reporting attacks on Iranian targets on Saturday, when U.S. forces struck three Iranian oil tankers.
Windward Offshore Completes Four-Vessel Vard-Built CSOV Fleet (Video)
Windward Offshore has taken delivery of the Windward Hamburg, completing its four-vessel series of purpose-built commissioning service operation vessels (CSOVs) ordered from shipbuilder Vard.The delivery brings the Windward Hamburg into the fleet alongside sister vessels Windward Athens, Windward Paris and Windward Munich, providing capacity to support offshore wind projects during construction, commissioning and long-term operations.Based on VARD's 4 19 design…
Tanker Strikes Push Hormuz Traffic to Lowest Since May
An average of 10 commodity ships transited the Strait of Hormuz per day over the past 10 days, the lowest since May, according to shipping data on Monday, after U.S. and Iranian strikes on tankers.The 10-day moving average was 10 on Sunday, down from more than 15 on Friday and nearly 13 on Saturday, data from analytics firm Kpler found.Only two vessels passed through the strait on Saturday while six went through on Sunday, mostly using the Iranian route.U.S.
Wärtsilä Signs Lifecycle Agreement With Mercy Ships International
Wärtsilä has signed a Lifecycle Agreement with charity organization Mercy Ships International. The contract covers a 5-year renewal of an existing service agreement for the world's largest purpose-built civilian hospital ship, the Global Mercy, and a 3-year service agreement for the organization’s latest newbuild vessel, the Africa Mercy II. Both ships are fitted with Wärtsilä engines. The order was booked by Wärtsilä in Q3 2026.Mercy Ships provides free medical care…
KR Releases Statement of Fact for ShipWatch Vessel Performance Calculation Methodology
KR (Korean Register) has issued a Statement of Fact for the Vessel Performance Calculation Methodology developed by ShipWatch, an affiliated company of Navig8 and ADNOC L&S. KR’s technical review confirmed that the methodology aligns with the principles and performance-monitoring sequences established in the international standards ISO 15016:2015 and ISO 19030:2016.The Statement of Fact was formally presented to ShipWatch on September 2 during SMM 2026 in Hamburg…
Techcross Updates Smart Platform Vessel Management Service
Techcross has completely renewed its Smart Platform, a web-based service for shipowners. The key focus of the renewal is to go beyond simply providing operational data from Ballast Water Management Systems (BWMS) by improving the information structure and data analytics functions, enabling users to identify vessel conditions and necessary actions more quickly.The renewed Smart Platform categorizes the status of vessels within a shipowner's fleet into three levels—Alert…
Indian Recycling Yards Pushed Towards Highly Speculative Bids
Indian ship recyclers are increasingly prepared to bid at levels that could result in substantial losses based on current prices as competition for a limited number of end-of-life vessels intensifies, according to Wirana Shipping, one of the world’s oldest and largest cash buyers of vessels for recycling.Indian ship recycling offers have climbed by as much as USD 30/LT LDT in three weeks as competition for limited vessel supply intensifies…
South Korea Reviewing Military Options for Hormuz
South Korea is reviewing options, including military measures, to support freedom of navigation in the Strait of Hormuz, the presidential office said on Friday, while denying media reports that the government had already decided on a deployment.Several South Korean media outlets, including JTBC and MBC, reported late on Thursday that Seoul was preparing to deploy military assets before the end of the…
Milei Vows Tougher Sanctions, Defense Push Over Falklands Oil Drilling
Argentine President Javier Milei said on Thursday he would tighten sanctions on companies involved in oil projects around the Falkland Islands, boost defense resources in the country's south and send Congress a bill aimed at strengthening Argentina's response to what he called violations of its sovereignty.In a televised address, Milei said he would sign a decree to speed sanctions under Argentine…
