Executive News

Oil prices rose on Tuesday on supply fear, as Iran denied it had talks with the United States to end the war in the Gulf, contradicting U.S. President Donald Trump who said a deal could be reached soon.Brent futures LCOc1 rose $2.89, or 2.9%, to $102.83 a barrel at 0710 GMT, while U.S. West Texas Intermediate (WTI) CLc1 climbed $2.49, or 2.8%, to $90.62.Crude futures dropped more than 10% on Monday, after Trump ordered a five-day delay to attacks on Iran's power plants, saying the U.S.

Oil prices dropped about 8% on Monday after U.S. President Donald Trump said he would postpone any military strikes against Iranian power plants for five days and cited constructive talks to resolve hostilities in the Middle East, hours before a deadline that threatened to escalate the four-week-old war.Brent futures fell $8.92, or 8.0%, to $103.27 a barrel at 12:31 p.m. EDT (1631 GMT), while U.S. West Texas Intermediate lost $7.17, or 7.3%, to $91.06.Extreme price changes in…

The International Energy Agency is consulting with governments in Asia and Europe on the release of more stockpiled oil "if necessary" due to the Iran war, Executive Director Fatih Birol said on Monday."If it is necessary, of course, we will do it. We look at the conditions, we will analyse, assess the markets and discuss with our member countries," Birol told the National Press Club in Canberra, at the start of a world tour.IEA member nations agreed on March 11 to release a record 400 million barrels of oil from strategic stockpiles to combat the spike in global crude prices.

In a maritime market increasingly defined by volatility, from war in the Middle East and the resulting whiplash freight and energy rates, William Doyle chose a moment of celebration in New Orleans to deliver a message grounded in something far less fashionable: stability.Speaking at the March 21 christening of Frederick Paup, a 15,000-cubic-meter trailing suction hopper dredge built for Manson Construction, the CEO of the Dredging Contractors of America used the occasion not simply to praise a record-setting vessel…

The IMO Council condemned attacks on merchant ships and the purported closure of the Strait of Hormuz during an extraordinary session in London and called for an internationally coordinated approach to security.The Council directed IMO Secretary-General Arsenio Dominguez to establish a safe maritime framework, as a provisional and urgent measure, to facilitate the safe evacuation of merchant ships currently confined within the Gulf region.“I am ready to start working immediately in negotiations to establish a humanitarian framework to evacuate all vessels and seafarers trapped…

Following three consecutive years of revenue growth and expanding international demand for efficient offshore power delivery, Verlume is evolving its leadership structure to support its next phase of global expansion transitioning from technology commercialization to global scale-up.After founding Verlume and leading the company as CEO for 13 years, Richard Knox will transition into the role of Founder-CTO. In this position he will focus on customer engagement, innovation and technology strategy.

Caledonian Maritime Assets Limited (CMAL) has named Guangzhou Shipyard International Co., Ltd (GSI) as the preferred bidder to build two new freight flex ferries for Scotland’s Northern Isles service, marking a key step forward in the procurement process.The contract, which remains subject to a mandatory 10-day standstill period, covers the construction of two 140-meter vessels that will replace the Helliar and Hildasay on the Aberdeen to Kirkwall/Lerwick route operated by Serco NorthLink Ferries.Designed to boost both capacity and performance…

Sable Offshore on Monday said it had begun pumping oil on a long-disputed pipeline system linking the Santa Ynez offshore platform to California refineries after emergency orders from the Trump administration directing the restart.The restart marks a major win for the Houston-based oil company in its years-long battle with California regulators and environmental groups, which have sued to stop the Santa Ynez project. Santa Ynez had been shut since 2015 due to an oil spill from the pipelines that Sable has now restarted.The matter is among the slew of conflicts between U.S.

Stolt-Nielsen Limited and Nippon Yusen Kabushiki Kaisha announced that, through Stolt-Nielsen’s subsidiary Stolt-Nielsen Gas Ltd., Stolt-Nielsen has entered into a share purchase agreement to sell 50% of Avenir LNG Limited to NYK Line. Avenir LNG was founded in 2017 and has grown into a leading player in the liquefied natural gas (LNG) bunkering sector, operating a global fleet of LNG bunker vessels.With this partnership, Stolt-Nielsen and NYK Line will expand their future small-scale LNG and LNG bunkering opportunities through the joint venture…

The American Pilots’ Association (APA)  is concerned that the ongoing Department of Homeland Security (DHS) funding lapse is negatively impacting the ability of the U.S. Coast Guard (USCG) to carry out critical navigation safety and mariner credentialing services. “APA and our member pilot associations value the important navigation safety and credentialing services the USCG provides.” said APA President Captain Jorge Viso. “This shutdown impacts these services and unnecessarily puts navigation safety and the maritime supply chain at risk.”This shutdown began on February 14…

The Orlen Group is expanding its capacity to transport LNG with the naming ceremony for two 174,000 cubic meter LNG carriers from Hanwha Ocean shipyard. The vessels will enhance the stability and flexibility of gas deliveries to Poland and strengthen the region’s energy security. Each new ship can deliver enough gas in a single voyage to supply as many as two million households.“Orlen is investing continuously in the energy security and independence of both Poland and the wider region.

The outlook for the offshore support vessel (OSV) business has brightened considerably since the dark days of the previous decade and is possibly in a “Goldilocks moment” — not too weak and not too strong. While strengthening, it has not yet reached the point of significant new vessel ordering. Paradoxically, across maritime markets, observers are often concerned when exuberance gets out of hand. For now, newbuild activity remains limited.On the Q3 2025 earnings call for listed company Tidewater (NYSE: TDW)…

For Aimee Andres, the nation’s inland rivers are not an abstract transportation network or a policy talking point. They are personal. Growing up, she spent her formative years around ports, terminals and railroads, watching firsthand how freight moved and how quietly essential inland infrastructure is to the country’s economic engine. That upbringing ultimately led her to a role she has now held for more than a decade: Executive Director of Inland Rivers, Ports & Terminals (IRPT).

Offshore drilling contractor Seadrill has appointed Samir Ali as its new chief executive officer (CEO).Effective immediately, Samir Ali will step up from its Executive Vice President, Chief Commercial Officer (CCO) position to its new role, succeeding Simon Johnson.Ali has served as Executive Vice President, Chief Commercial Officer of the company since August 2022. Prior to joining Seadrill, Ali was with Diamond Offshore, most recently serving as Vice President of Investor Relations…

The IMO has called an Extraordinary Council meeting to discuss situation in Middle East. The meeting will focus on the impact on shipping and seafarers in the Arabian Sea, the Sea of Oman and the Gulf region, particularly in and around the Strait of Hormuz.The session will be held on March 18 to 19 at the IMO headquarters in London, United Kingdom, to be chaired by Victor Jiménez of Spain.The Extraordinary Session (C/ES.36) is convened following requests from several Council Members.IMO…

The busiest U.S. container seaport in Los Angeles is mostly insulated from supply chain upheaval sparked by U.S.-Israel attacks on Iran that have spiraled into a regional conflict, its executive director Gene Seroka said on Thursday.The Iran war has snarled container shipping in the Middle East, sending up costs, stranding ships and cargoes, threatening fuel shortages and endangering vessels and the lives of seafarers."We, right now, don't see any of that congestion happening" on the lucrative transpacific ocean trade that is the lifeblood of the Port of Los Angeles…

MacGregor has launched its new Balanced Lashing System, a solution designed to solve the long-standing industry challenge of uneven load distribution in container ship lashings.On conventional container ships, lashings often share loads unevenly, with upper lashings bearing the majority of the stress while lower lashings operate at only about half of their safe capacity. The Balanced Lashing System changes this dynamic by using proven elastic elements, materials used successfully for decades in hatch cover bearing pads…

The International Energy Agency on Wednesday agreed to release a record 400 million barrels of oil from strategic stockpiles to combat a spike in global crude prices since the start of the U.S.-Israeli war with Iran, with the U.S. contributing the bulk of the supply.The IEA said all 32 member countries backed the move, the sixth coordinated stockpile release since the agency's creation in the 1970s. The United States will take a lead role by contributing 172 million barrels, according to U.S.

The Australian Maritime Safety Authority (AMSA) has taken swift action to protect seafarer welfare, detaining Liberian-flagged bulk carrier Ocean Bright and banning it from Australian ports for six months after nonpayment of crew wages.This week, AMSA received a complaint that seafarers onboard the vessel Ocean Bright had not been paid for two months, prompting investigation when the vessel docked in Newcastle. The investigation found that eight crew members were owed US$46,334 in unpaid wages.AMSA also detected several other issues during the inspection and identified 18 deficiencies…

Major industry announcements and new product launches continued to drive significant visitor numbers and plentiful business activity as Oceanology International 2026 (Oi26) surpassed expectations on the second day at Excel London.Among the companies taking center stage, expanding platform OceanSight used Oi to unveil its new collection of ocean technology brands built to advance marine sensing and subsea intelligence, celebrating an exciting new chapter focused on accelerating innovation and strategic growth.OceanSight…

G7 energy ministers stopped short of agreeing on a release of strategic oil reserves on Tuesday and instead asked the International Energy Agency to assess the situation before acting.The IEA said it was convening an extraordinary meeting of its member states on Tuesday.Members would "assess the current security of supply and market conditions to inform a subsequent decision on whether to make emergency stocks of IEA countries available to the market," IEA Executive Director Fatih Birol said."We have asked the IEA to elaborate scenarios for a potential oil stock release…

The global maritime industry has long been the arterial system of the world economy, responsible for over 90% of global trade. For centuries, the primary dangers to a vessel were physical: crushing storms, mechanical failure, or the threat of piracy. However, as we move through 2026, the industry has reached a critical juncture. The rapid digitization of the sector—driven by the need for logistical optimization and fuel efficiency—has fundamentally shifted the threat landscape.

SAAM closed 2025 with record financial performance, underscoring the continued strength of its harbor towage business across the Americas while positioning the company for further international expansion. For a company that has spent the past several years reshaping its business model and sharpening its strategic focus, the results signal both operational momentum and growing scale in the global tug market.The Chile-based maritime services provider reported net income of $80.4 million for 2025, while EBITDA reached $216.9 million, representing a 15% increase compared to the previous year.