Russian Drones Strike Two Ships off Ukraine’s Odesa Coast
Russian drones hit two ships in the Black Sea approaching ports in Ukraine's Odesa region on Monday, including a Chinese-owned cargo vessel, Ukrainian authorities said, after a night of Russian attacks on the area.Ukraine's seaports authority said that the strikes had hit two civilian vessels, one under Marshall Islands flag and another under Guinea-Bissau flag, both of which were heading to ports in the region.The Ukrainian navy reported a strike on the Ksl Deyang…
Norway Signs Up to EU Baltic Sea Cooperation Alliance
Norway said on Monday it has joined the European Union's Strategy for the Baltic Sea Region (EUSBSR), which aims to coordinate work around common challenges, including security aspects.Norway, a non-EU country, will join existing members Sweden, Denmark, Estonia, Finland, Germany, Latvia, Lithuania and Poland in the EUSBSR."Membership will strengthen Norway's cooperation with the EU in a region that has become central to European and Norwegian security," said Norwegian Minister of Foreign Affair
Oil Climbs Above $110 After Gulf Drone Attacks Raise Supply Fears
Oil prices extended gains on Monday as efforts to end the Iran war appeared to have stalled, after a nuclear power plant in the United Arab Emirates came under attack and as U.S. President Donald Trump is expected to discuss military options on Iran.Brent crude futures LCOc1 climbed $1.65, or 1.51%, to $110.91 a barrel by 0703 GMT, but were off the $112 they had touched earlier for their highest since May 5.U.S.
Global Businesses Face Mounting $25 Billion Fallout From Iran War
The U.S.-Israeli war with Iran has already cost companies around the world at least $25 billion - and the bill is climbing, according to a Reuters analysis.A review of corporate statements since the start of the conflict by companies listed in the United States, Europe and Asia offers a sobering look at the fallout. Businesses are grappling with soaring energy prices, fractured supply chains and trade…
Ship Recycling Market Hits Rare May Supply Squeeze
The Indian subcontinent (especially India and Pakistan) ship recycling market has entered a rare period of inactivity, with Wirana Shipping’s latest market outlook report showing hardly any new recycling candidates circulated during the week and no vessels currently waiting to be beached in India and just one vessel waiting to be beached in Pakistan.The report points to a market where recyclers remain ready to buy, but owners are still finding commercial reasons to keep older vessels trading.
IMO Launches Gender Handbook on Women in Maritime Day
This year’s IMO International Day for Women in Maritime (May 18) focuses on embedding gender equality at every level of the maritime industry, both on shore and at sea.Under the theme “From Policy to Practice: Advancing Gender Equality for Maritime Excellence”, the day highlights actions to translate international ambitions and commitments into tangible actions that will make a difference in the lives of women in the sector…
Hantavirus-Hit Cruise Ship Headed for Rotterdam
The hantavirus-hit cruise ship MV Hondius was due to dock in Rotterdam on Monday morning for disinfection, with Dutch authorities preparing quarantine arrangements for the 25 crew members and two medical staff remaining on board.Local authorities said quarantine facilities had been set up for some of the non-Dutch crew, though it was not clear yet if they would stay there for the full recommended 42…
VLCC Heads for Vietnam After Hold-Up in US Blockade
Supertanker Agios Fanourios I is heading for Vietnam to discharge its Iraqi crude oil cargo after it was held by the U.S. Navy for five days in the Gulf of Oman, shipping data on LSEG showed.The Maltese-flagged very large crude carrier (VLCC) sailed out of the Strait of Hormuz on May 10 and was sailing in the Gulf of Oman before making a U-turn on May 11. It resumed its journey toward Vietnam on May 16 and is expected to arrive at the Nghi Son refinery on May 30, LSEG data showed.The U.S.
Hapag-Lloyd, CMA CGM Suspend Cuba Bookings After US Executive Order
Shipping giants CMA CGM and Hapag-Lloyd said on Sunday they had suspended all bookings to and from Cuba until further notice, with both citing a U.S. executive order issued on May 1, in the latest blow to the crisis-wracked island's economy.The temporary suspension of new orders by two of the world’s largest shipping companies could jeopardize as much as 60% of Cuba's shipping traffic by volume, two…
ESAB Awards $5,000 Welding Grant to Two Texas High Schools
As part of celebrating National Welding Month in April, ESAB awarded $5,000 to support the welding programs at Princeton High School and Lovelady High School, part of the Princeton Independent School District, through its ESAB Future Fabricators Charlie Monschke Welding Education Grant. ESAB, a world leader in fabrication technology, also surprised the school with an equipment donation of a combined retail value exceeding $6,000.
Oil Prices Rise More Than 3% As US-Iran Talks Dent Hopes of Peace
Oil prices gained more than 3% on Friday, climbing more than $3 a barrel, after comments by U.S. President Donald Trump and Iran's foreign minister further dented hopes of a deal to end ship attacks and seizures around the Strait of Hormuz.Brent crude futures gained $3.35, or 3.17%, to $109.07 a barrel by 12:34 p.m. CDT (1734 GMT). U.S. West Texas Intermediate futures were up $3.85, or 3.81%, at $105.02.Over the week…
Greek-Operated Tanker Crosses Strait of Hormuz
A Greek-operated tanker sailed from the Gulf to India on Friday after crossing the Strait of Hormuz in one of the few crude sailings through the waterway this week, ship tracking data showed on Friday.The U.S.-Israeli war on Iran has led to the effective closure of the strait, stranding hundreds of ships and leading to unprecedented disruption of energy supplies.The Liberia-flagged suezmax tanker Karolos…
ScioSense Launches UFC23 Ultrasonic Flow Converter for High-Precision, Ultra-Low-Power Smart Metering
The new UFC23 sensor combines improved resolution and offset stability with ultra-low standby current, enabling high-end battery-powered water, heat, gas and leak detection meter designs across a wide range of smart metering applications.ScioSense, a leading developer and manufacturer of semiconductor-based environmental and flow sensors, today launched the UFC23 – the 4th generation ultrasonic flow converter for measurement in water…
Coast Guard Seizes Sailing Vessel During Offshore Interdiction Operation
Special agents with the U.S. Coast Guard Investigative Service (CGIS), supported by multiple Coast Guard surface and aviation assets, seized the sailing vessel Soulmate approximately 40 nautical miles off the coast of Melbourne, Florida, as part of an ongoing criminal investigation into the disappearance of Lynette Hooker.The seizure was conducted during a complex surveillance and interdiction operation…
Samsung Heavy Industries Receives AIP Certificate for Floating Data Center from ABS
ABS issued approval in principle (AIP) to Samsung Heavy Industries (SHI) for its design of a 50-megawatt floating data center.SHI’s design utilizes a standardized shipbuilding process, integrating design, manufacturing, and equipment installation concurrently to optimize efficiency. SHI states that this approach enables shorter lead times and incorporates a proprietary power generation system, thereby minimizing reliance on onshore electricity.
Solstad’s Arbitration Win Unlocks $14.5M Payment for its Largest Vessel
Solstad Offshore has informed the arbitration proceedings related to disputed 2024 charter hire for Normand Maximus construction support vessel (CSV) had concluded in favor of the company.The company said it would receive approximately $13 million in charter hire, in addition to around $1.5 million in interest compensation, following the ruling.Solstad said the decision would have a positive liquidity…
Caturus Takes FID on Commonwealth LNG Project in Louisiana
Caturus has taken a final investment decision on its Commonwealth LNG export project in Louisiana after securing $9.75 billion in project financing for the 9.5 million tonnes per annum facility, with partners Mubadala Energy, Kimmeridge and CPP Investments.The companies said the financing supports construction of the LNG export terminal in Cameron Parish, Louisiana, with total commitments for the project…
Oil Prices Rise Amid Fears of Ship Attacks and Seizures
Oil prices rose Friday as market concerns persisted over ship attacks and seizures despite Iran saying about 30 vessels had passed through the Strait of Hormuz, while the U.S. and Chinese presidents were set for a second day of talks in Beijing.Brent crude oil futures LCOc1 rose 60 cents, or 0.57%, to $106.32 a barrel by 0100 GMT, while U.S. West Texas Intermediate futures CLc1 were up 54 cents, or 0.53%…
Somali Piracy on the Rise
Palaemon Maritime’s maritime security report this week points to some of the clearest indicators yet that piracy activity off Somalia is escalating again.“Taken alone, these incidents might appear isolated. Taken together, they point to something more important: the conditions that enable piracy are building again in the Western Indian Ocean.”Most recently, Palaemon cites a possible hijacking of a dhow off the southern Somali coast…
AI Technology Boosts FarSounder Navigation Capabilities
FarSounder has expanded the capabilities of its Argos Forward Looking Navigation Sonar (FLS) with an integration with Tocaro Blue’s ProteusCore™ software.This new integration brings AI-powered radar perception to FarSounder’s SonaSoft™ LT navigation software, delivering greater situational awareness for users navigating challenging marine environments.ProteusCore transforms marine radar into an intelligent perception sensor capable of detecting…
