Lost Gulf Oil Since Start of Iran War is Less Than Previously Thought
Since the start of the Iran war and Tehran's announcement that the Strait of Hormuz was "closed", the market has grappled to put a figure on lost crude supply and to predict the price of oil.Initial calculations were simple: add up all non-Iranian Gulf crude oil exports, some 12 million to 15 million barrels a day, and you easily have the biggest crisis in history.Accordingly, benchmark Brent crude futures shot to nearly $120 per barrel in early March.
Venezuela: Trinidad and Tobago Oil Spill is Detrimental to Environment
Venezuela's government said on Friday that an oil spill originating from Trinidad and Tobago is putting fishing as well as the environment at risk."This event exceeds in magnitude the one that occurred in May and confirms the drift of pollutants toward Venezuelan waters," the government said in a statement without providing further details on the extent of the spill, which it said was confirmed by…
Shipping Industry Leaders Condemn Recent Attacks on Seafarers
BIMCO, the International Chamber of Shipping (ICS), INTERCARGO and INTERTANKO unanimously condemns recent attacks on seafarers and commercial shipping in and around the Strait of Hormuz. According to the International Maritime Organization (IMO), the organization has verified 46 attacks on international shipping in and around the Strait of Hormuz since February 28, 2026, with 14 confirmed seafarer…
LNG-Fueled Cruise Vessel Mein Schiff Delivered
Fincantieri delivered Mein Schiff Flow, the second of two next-generation InTUItion-class cruise ships built for TUI Cruises.Built at Fincantieri's Monfalcone, Italy, yard, the 160,000gt vessel can accommodate around 4,000 passengers. It follows sister ship Mein Schiff Relax as part of a new class developed by Fincantieri to combine advanced environmental performance with modern cruise operations.A key feature of Mein Schiff Flow is its dual-fuel propulsion capability…
BP Looks to Shed Gulf of America Projects, sources say
BP has started a process to sell stakes in two of its Gulf of America projects, four people with knowledge of the matter said, in what would be one of new CEO Meg O'Neill's first moves.BP, one of the largest operators in the Gulf of America, has been weighing a sale of minority stakes in the Kaskida and Tiber projects for more than a year, with each estimated to be worth billions of dollars to the company…
Three Dead as Supply Boat Sinks Off Singapore Terminal
A supply boat sunk off Pasir Panjang Terminal on June 12, 2026 at about 9.30 AM after colliding with a landing craft. The Maritime and Port Authority of Singapore (MPA), Police Coast Guard (PCG), and SCDF Marine Division, immediately activated their crafts to the incident site and commenced search and rescue operations.The landing craft is stable with no reported injury to crew on board.PCG has recovered three bodies from the waters…
Nereida Energy Raises Over $3M to Expand Maritime Battery Tech Business
Norwegian maritime technology company Nereida Energy has raised $3.3 million (NOK 32 million) through a private placement of shares backed by a group of industrial and financial investors, including Grieg, Eviny, Nysnø and Nye Aasen.The company, which develops battery and energy storage solutions for vessels ranging from ferries and service vessels to offshore ships and wellboats, said the proceeds will be used to strengthen its organization…
JERA Takes Delivery of First LNG Cargo from Australia's Barossa Gas Project
JERA has received its first liquefied natural gas (LNG) cargo from the Barossa gas project in Australia, marking the start of LNG deliveries from the offshore development to Japan's largest power generation company.The cargo arrived aboard the LNG carrier Sohshu Maru at JERA's Futtsu LNG terminal on June 12, following the start of production from the Barossa project in late 2025.Located offshore Australia's Northern Territory…
BRIN Taps Shipbuilder PIRIOU for Research Vessel Pair
The “Badan Riset dan Inovasi Nasional” (BRIN), Indonesia’s national agency for research and innovation, has commissioned the French shipbuilder PIRIOU to design and build two research vessels:a multimission offshore hydro-oceanographic vessel (ORV – Ocean Going Research Vessel) and a coastal research vessel (CRV – Coastal Research Vessel).The order was signed on June 11, 2026 during a ceremony held in Indonesia…
Oil Falls More Than 2% as US-Iran Tensions Ease
Oil prices fell more than 2% on Friday, extending losses from the previous session after U.S. President Donald Trump cancelled plans to strike Iran, reducing fears of an escalation of hostilities following tit-for-tat attacks earlier in the week.Brent futures LCOc1were down $2.11 or 2.3% at $88.27 a barrel by 0640 GMT, while U.S. West Texas Intermediate (WTI) CLc1 crude dropped $1.90, or 2.2%, to $85.81.Trump called off planned strikes on Thursday…
