Bloomberg News

A cargo ship carrying wheat sank in the Sea of Azov after coming under attack from Ukrainian drones, a Russia-installed official said on Sunday, leaving one person dead and two missing.Vladimir Saldo, Moscow-installed leader of the Russian-controlled parts of Ukraine's Kherson region, said the attack occurred on Friday but crew members were unable to make known what had happened to them until Sunday."It became known that the reason for the sinking of the Volgo-Balt in the Sea of Azov was a terrorist attack by the Kyiv regime…

British energy major BP has received approval from the Trump administration to advance its Kaskida project in the Gulf of Mexico, a company spokesperson told Reuters in an emailed statement late on Friday.The $5 billion investment would unlock 10 billion barrels of resources that BP has discovered in the Paleogene fields of the U.S. Gulf, the spokesperson said.The U.S. Department of the Interior's approval of Kaskida follows a year-long review of the company's development plan…

North American Blue Energy, a company backed by U.S. energy magnate Harry Sargeant III, has moved to export nearly 1 million barrels of Venezuelan crude for delivery into China, Bloomberg News reported on Monday, citing a document.The cargo may be the first delivery of Venezuelan oil to the Asian country since the US took control of the nation's oil sales earlier this year, the report said.U.S. President Donald Trump has been taking steps to ease sanctions against Venezuela following the arrest of President Nicolas Maduro and urging U.S.

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 Devika Nair in Bengaluru; Editing by Jacqueline Wong)

Britain said on Sunday discussions with other NATO members on deterring Russian activity in the Arctic were "business as usual", after media reports the UK was in talks with its European allies about deploying a military force to Greenland.The Telegraph reported on Saturday that military chiefs from Britain and other European countries were drawing up plans for a possible NATO mission in Greenland, which U.S. President Donald Trump has repeatedly said he wanted to acquire.The newspaper said British officials had begun early-stage talks with Germany…

The Pasha Group, a leader in integrated global logistics and maritime services, announced that Cary Davis has joined the company as Vice President of Government Affairs to lead advocacy and corporate communications. In this role, Davis will oversee federal, state, and local government relations; industry and stakeholder engagement; media relations; and strategic communications in support of Pasha’s long-term growth and service to customers and communities.A business leader and trade attorney, Davis brings deep experience in maritime policy, infrastructure finance, and public affairs.

As oil exploration and production goes, so goes the market for Offshore Service Vessels (OSVs) and Platform Supply Vessels (PSVs). Throughout 2025, the prices of oil- which drives exploration and production (E & P), have softened, moving down towards $60/barrel amidst economic uncertainty and a wider than anticipated opening of the taps by major oil producers. In the past year, the Baker Hughes overall count of U.S. rigs working has declined. September 2025’s U.S. Rig count of…

Russian oil major Lukoil is struggling to keep operations running at its sprawling foreign businesses as Western sanctions disrupt oil loadings in Iraq, pump stations in Finland and trading in Switzerland, sources said.The United States and the United Kingdom last month imposed sanctions on Russia's second-largest oil company, complicating how it carries out its normal operations.The U.S. Treasury Department issued a licence giving companies until November 21. to wind down any…

Bloomberg reports that, ahead of Friday’s vote at the IMO, Andrew Forrest, the billionaire founder and chair of Fortescue Metals Group, decried what he said were “intimidatory tactics” impacting delegates’ ability to vote their conscience.“As a global industrialist and philanthropist, I stand ready to support any country or individual being blackmailed or threatened,” Forrest said in a message to negotiators at the UN. “I am committed to working with others to ensure that justice prevails and bullying tactics do not win out.”Still…

A comprehensive independent investigation by Bloomberg into the 2020 sinking of the Gulf Livestock 1 has just been aired.For the families of the seafarers lost, it's been an ongoing saga of hope and sadness as some mounted their own search and rescue efforts and fought for more information on what went wrong. The livestock carrier was sailing from New Zealand to China with 43 crew and approximately 6,000 dairy cattle onboard when it capsized in the East China Sea during Typhoon Maysak.Around 8 p.m. on September 1, the Gulf Livestock 1’s engines failed.

CK Hutchison's plan to sell most of its $22.8 billion ports business is unlikely to be finalised anytime soon, with political brinkmanship set to continue, and sources saying that a Sunday deadline for exclusive talks was likely to be extended.The Hong Kong conglomerate's plan to sell the business, which would include two ports along the strategically important Panama Canal, to a consortium led by BlackRock and Italian billionaire Gianluigi Aponte's family-run shipping company MSC, has become politicised amid an escalating China-U.S.

Opening Ceremony sets the tone for a pivotal three-day event focused on global cooperation,  diversified supply, and pragmatic climate solutions  Global CEO Panel featuring JERA, TotalEnergies, and Woodside underscores LNG’s role in energy  security and decarbonisation  Delegates from over 50 countries convene at Tokyo Big Sight to chart the course for a secure, sustainable energy futureThe Japan Energy Summit & Exhibition 2025 officially opened today at Tokyo Big  Sight, welcoming energy leaders, policymakers, and innovators from across the global energy value chain.

Malaysian state energy firm Petroliam Nasional, or Petronas, will retrench about 10% of its workforce in a restructuring exercise, its chief executive said on Thursday.Tengku Muhammad Taufik also denied at a media briefing that the state firm was exiting its business in Canada.Local media has previously reported Petronas as saying it needed to "rightsize" its workforce to ensure the company's survival in the coming decades.Petronas has nearly 50,000 employees, according to its website.Bloomberg had reported earlier on Tuesday that Petronas is considering a sale of its Canadian company, formerl

India plans to spend $10 billion over the next 25 years to acquire up to 112 crude oil tankers, Bloomberg reported, citing unnamed officials. The move would effectively reduce reliance on foreign-chartered vessels and bolster energy security for India.According to the Bloomberg report, orders for 10 ships could come as early as this month, with the stipulation that ships must be built in India, potentially with foreign collaboration. The government targets increasing the share of India-built tankers in its fleet from 5% to 7% by 2030…

As tariffs and trade wars continue to unsettle markets globally, some astute companies are moving to fill the void. One is South Korean shipbuilder Hanwha Ocean, which according to a report by Bloomberg is moving to build the LNG tankers in the United States, responding to new policy recommendations from the U.S. Trade Representative (USTR) aimed at curbing China’s dominance in global shipbuilding.The USTR proposal, unveiled Thursday, includes tariffs on Chinese-built vessels calling at U.S. ports following a six-month transition period. It also calls for LNG carriers that export U.S.

Italian billionaire Gianluigi Aponte's family-run business is emerging as the lead investor of a group seeking to buy 43 ports from conglomerate CK Hutchison, Bloomberg News reported on Monday, citing people familiar with the matter.The Aponte family's Terminal Investment Ltd (TIL), which manages a diverse portfolio of container terminals according to its website, will be the sole owner of all the ports once the deal is completed, except for two in Panama that would be controlled by BlackRock Inc…

Hong Kong's CK Hutchison will not sign a deal next week to sell its two port operations near the Panama Canal to a BlackRock-led group, two people with direct knowledge of the matter said, amid growing pressure from Beijing.China's market regulator said it will carry out an antitrust review on the Panama port deal in accordance with law to protect fair competition and safeguard public interests, its official WeChat account showed late on Friday.The telecoms-to-retail conglomerate owned by tycoon Li Ka-shing this month agreed to sell most of the global $22.8 billion ports business…

A U.S. delegation will seek progress toward a Black Sea ceasefire and a broader cessation of violence in the war in Ukraine when it meets for talks with Russian officials on Monday, after discussions with diplomats from Ukraine on Sunday.The so-called technical talks come as U.S. President Donald Trump intensifies his drive for a halt to Russia's three-year-old assault against Ukraine. Last week, he spoke with both Ukrainian President Volodymyr Zelenskiy and Russian President Vladimir Putin.A source briefed on the planning for the talks said the U.S.

A few choice 'news of note' from other leading new sources around the globe - January 6, 2025.2025 Target: $18.5B in Shipbuilding OrdersAccording to Business Korea, HD Korea Shipbuilding & Offshore Engineering set its shipbuilding target for 2025 at $18.5B, a mammoth jump from last year's $13.5B target. Of the $18.5B, $9.7 is targeted to HD Hyundai Heavy Industries; $3.8B for HD Hyundai Mipo; and $4.5B for HD Hyundai Samho.In the Navy [Business]In related but separate news from the South Korean shipbuidling sector…

President Joe Biden is set to ban new offshore oil and gas development across 625 million acres (250 million hectares) of U.S. coastal territory, Bloomberg News reported on Friday.The ban, to be announced on Monday, rules out the sale of drilling rights in stretches of the Atlantic and Pacific oceans and the eastern Gulf of Mexico, said the report, citing unidentified people familiar with the matter.Biden is leaving the possibility open for new oil and natural gas leasing in the central and western areas of the Gulf of Mexico…

The International Longshoremen's Association and the United States Maritime Alliance (USMX) are set to resume contract talks on Jan. 7, Bloomberg news reported on Thursday, citing a person familiar with the matter.Talks between the ILA, which represents more than 45,000 dockworkers across the U.S. East and Gulf coast ports, and the employer group are at an impasse over issues related to automation at port terminals.Both parties signed a tentative deal in October, which gave workers a 62% wage hike over six years, to end a three-day strike but left issues related to automation unresolved.Another coast-wide strike at U.S. East and Gulf coast ports looms large if an agreement is not reached before Jan.

Fincantieri is open to all types of collaboration with the warship division of conglomerate Thyssenkrupp, but it is up to Germany to decide on a strategy for the unit, the CEO of the Italian shipbuilder said this week."Now is time for German institutions to understand what the best strategy is to give more value and strengthen (Thyssenkrupp Marine Systems).

Port and logistics firm DP World is going ahead with a 1 billion pound ($1.3 billion) investment in its London Gateway port, Britain's government said on Sunday after reports last week that the company had paused the project in protest.In what had been an embarrassment for the government before a major investor conference, Sky News reported on Friday that DP World had put the planned investment on hold after two ministers criticized practices at its subsidiary P&O Ferries.DP World declined on Friday to comment on the reports.On Sunday…