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June 25, 2026
All three bids received for the engine maker Everllence by Volkswagen valued the unit at "clearly" more than EUR9 billion ($10.21 billion), according to a source involved in the negotiations. Volkswagen has chosen U.S. Private Equity firm Bain Capital for the acquisition of 51% of this unit.
Posted to Maritime Reporter
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June 25, 2026
The?shares of Volkswagen rose 2.4% on Friday following the?announcement that a majority of its engine unit Everllence would be sold in a deal expected to bring in EUR7,4 billion ($8,41 billion) as the automaker continues with its restructuring.
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June 24, 2026
Taiwan thanked the U.S. and Britain for raising the alarm over the Chinese Coast Guard and other activities near the east coast of the island. The government said that freedom of navigation is essential to global trade. China, which considers democratically-governed Taiwan to be its territory…
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June 24, 2026
The Financial Times reported that Bain Capital was'set to acquire a majority stake in Volkswagen Marine Engine Unit Everllence. This report was based on people who are familiar with the situation. According to the report, it is estimated that the?unit will be worth?about EUR8.5 billion.
Posted to Maritime Reporter
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June 24, 2026
Britain, France, and Germany have raised concerns?on Wednesday? about recent Chinese activities near the east coast Taiwan. China has been mounting coast guard patrols and they are threatening regional stability and freedom to navigate. China…
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June 23, 2026
The United Nations shipping agency announced on Tuesday that an evacuation plan is in place to allow hundreds of ships with some '11,000 seafarers stranded' in the Gulf, to pass through the Strait of Hormuz. A spokesperson for the U.N. said…
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June 18, 2026
Officials and executives in the industry said that a rise in Russian attacks against Ukrainian seaports could "cut monthly grain shipments" by up to a third. Terminal operators are now facing losses they claim they can't cover alone. Ukraine is one of the world's largest grain exporters.
Posted to Maritime Reporter
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June 17, 2026
Shipping data shows that at least three tankers carrying Iranian oil have sailed past the U.S. blockade in the last week. A fourth vessel, an empty vessel is heading to the Gulf of Oman after the U.S. & Iran reached a framework agreement to reopen Strait of Hormuz.
Posted to Maritime Reporter
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June 15, 2026
The European Union expanded its list of sanctions on Monday, targeting Russian shadow fleet members accused of?aiding Moscow in its war effort against Ukraine as well as?individuals connected to the murder Alexei Navalny, an opposition leader.
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June 14, 2026
The Indian embassy in Muscat reported that an Indian died of medical complications aboard MT Celestial, while the vessel was docked at Duqm port in Oman. The embassy posted on social media that "necessary arrangements" were being made for the repatriation to India of the mortal remains.
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June 12, 2026
Energy Secretary Chris Wright said on Friday that U.S. refiners could still process more Venezuelan heavy oil, as the South American nation's output jumped after the U.S. captured President Nicolas Maduro in January. Facilities on the Gulf Coast also made adjustments to handle higher volumes.
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June 9, 2026
Kaja Kallas, the EU's chief diplomat, said that on Tuesday, the EU proposed a 21st set of sanctions against Russia in response to its war in Ukraine. The package would target heavily Russia's banks, crypto networks, oil traders, and refineries, as well as?as well?as? drone production.
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June 9, 2026
A diplomatic source in the EU said that the 'EU' is planning to propose on Wednesday a 21st set of'sanctions' against Russia for 'its' 'war in Ukraine'. The sanctions will target the country's banks and crypto networks, increasing the risk of…
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June 4, 2026
Two people with knowledge of the situation said that Oman's Mina al Fahal terminal' has suspended oil loading following an explosion near its single-buoy docking (SBM). They alleged that the explosion happened between SBM berths?1 and 2, due to an alleged drone strike.
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June 2, 2026
Delcy Rod, Venezuela's interim president, will visit India between June 3 and June 7. The Indian Foreign Ministry announced this on Tuesday. This comes at a time when New Delhi is increasing its crude imports from Caracas. India, which bought 427…
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May 19, 2026
Traders in Europe said that Algeria's state grain agency OAIC was believed to have purchased milling wheat a Tuesday international tender which only sought a?limited shipment? to two ports. Initial, the volume purchased was unclear. The requirement…
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May 18, 2026
Pakistan has communicated with the U.S. A Pakistani source revealed a revised Iranian proposal?to end conflict in the Middle East on Monday as the 'peace talks' appeared to be stalled. The source replied, "We don’t have much more time" when asked how long it would take to close the gap…
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May 18, 2026
In the past few weeks, buyers from the United States purchased milling wheat in Poland at high prices. Wheat prices are driving demand for cheaper supplies, traders in Europe said on Monday. The U.S. has previously purchased Polish wheat from the new 2026 crop, as reported in April.
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May 18, 2026
European traders reported on Monday that buyers?from the United States?purchased milling wheat in Poland in the?past weeks?. High U.S. prices of wheat generated demand for lower supplies. This is a continuation of previous U.S. sales of?Polish?wheat from the new 2026 crop reported in April.
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May 17, 2026
Shipping data on LSEG?showed that the Supertanker Agios Fanourios?I was heading?for Vietnam after it had been held by the U.S. Navy in the Gulf of?Oman for five days. The Very Large Crude Carrier, flying the Maltese flag, sailed from the Strait of Hormuz?on?May 10.
