The Newspaper News

Germany is in principle ready to help secure transit routes through the Strait of Hormuz after hostilities end, provided there is a mandate, preferably from the United Nations, and German parliamentary approval, Chancellor Friedrich Merz said."We are still a long way from all of that," Merz told reporters a day before talks in Paris that, he said, would also cover whether U.S. armed forces could participate in a mission.The U.S.-Israeli war with Iran has caused unprecedented disruption of global oil and gas.

Germany's coalition government has agreed fuel price relief for consumers and businesses worth 1.6 billion euros ($1.9 billion), ending a dispute over how to respond to an oil price surge triggered by the Iran war.The energy tax on diesel and petrol will be cut by about 0.17 euros per litre for two months, the conservative CDU party and its centre-left SPD coalition partners said on Monday.The Iran war has caused the biggest disruption to global energy supplies on record, with plans for a U.S.

Ship traffic through the Strait of Hormuz stood at well below 10% of normal volumes on Thursday despite a U.S.-Iran ceasefire as Tehran asserted its control by warning ships to keep to its territorial waters while doing so.Hundreds of tankers and other ships have been stuck inside the Gulf since the Iran war began on Feb 28, cutting global oil supply by 20% in the world's biggest-ever supply disruption. Prices for some physical oil grades hit fresh all-time highs on Thursday as the crisis showed little signs of abating.Iran must open the strait without conditions…

The current oil and gas crisis triggered by the blockade of the Strait of Hormuz is "more serious than the ones in 1973, 1979 and 2022 together", Fatih Birol, the head of the International Energy Agency (IEA), told Le Figaro newspaper."The world has never experienced a disruption to energy supply of such magnitude," he said in an interview with the French newspaper released in its Tuesday edition.He said the European countries, as well Japan, Australia and others will suffer, but the countries most at risk were developing nations which will suffer from higher oil and gas prices…

China's COSCO Shipping has suspended operations at Balboa port which is located at the entrance to the Panama Canal, according to local newspaper La Prensa, which published a notice to clients from the shipping and logistics conglomerate.Balboa is one of the two ports at the center of a year-long saga involving Washington, Beijing and the Panamanian government. The move follows a ruling by Panama's Supreme Court in late January that annulled the contract to operate the port held by a unit of Hong Kong's CK Hutchison.APM Terminals…

An Australian warship sailed through the Taiwan Strait, a government source said on Sunday, in the latest transit of the sensitive waterway by a U.S. ally that Chinese state-backed media said was tracked and monitored by the nation's military.In addition to claiming sovereignty over democratically governed Taiwan, Beijing views the narrow, highly strategic strait as Chinese territorial waters and has responded aggressively on occasion to foreign navies sailing there.The Toowoomba…

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 Rio Tinto marine team ia a leading charterer, chartering and operating a fleet of more than 230 ships to transport over 300 million tonnes of product every year. Glencore shares rose by 10% on Friday following news it is in talks with Rio Tinto  about a takeover that would create the world's largest mining group, valued at almost $207 billion.While Glencore gained, Rio Tinto shares fell by as much as 3%, reflecting investor scepticism towards a deal and concerns it will overpay.The two miners have discussed combining their operations before.

The CEO of Austrian energy firm OMV on Tuesday urged the European Union to reconsider its sustainability legislation or risk losing Qatar as a gas supplier which would undermine prosperity in the region.Qatar's Energy Minister Saad al-Kaabi, who is also CEO of QatarEnergy said on Monday that he could halt business with the EU if it does not significantly ease its Corporate Sustainability Due Diligence Directive.Kaabi told Reuters at the ADIPEC energy conference in Abu Dhabi that Qatar has contingency plans in place should it decide to stop shipments to Europe in response to the directive - a t

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…

France's CMA CGM on Tuesday announced a first-ever order for Indian-built vessels, saying the country's focus on shipping infrastructure created an opportunity to diversify the group's shipbuilding supply.CMA CGM, the world's third-largest container shipping firm, said in a statement it had signed a letter of intent for six vessels powered by liquefied natural gas to be built by Cochin Shipyard Limited.The order, in which South Korean shipbuilder HD Hyundai Heavy Industries will have a technical role…

The decision by President Donald Trump administration to halt fully permitted offshore wind energy projects is "very damaging" to investment, President of Shell U.S. Colette Hirstius told the Financial Times in a report published on Sunday.The executive told the newspaper that energy projects with proper permits should be allowed to continue and warned the political pendulum in the U.S. could eventually swing back against the oil and gas sector."I think uncertainty in the regulatory environment is very damaging.

European defense giant Rheinmetall has signalled interest in taking over German shipbuilder Naval Vessels Luerssen, industry sources told Reuters on Wednesday, as the Duesseldorf-based firm looks to expand into the naval business.According to the Bild newspaper, which first reported Rheinmetall's plans, the supervisory board intends to consider the purchase in the coming weeks.According to Bild, the Luerssen family, who own the shipbuilder, plan to divest its military shipyards in Hamburg…

Dating back to the year 1786, Thomas Jefferson wrote to a member of the Continental Congress on the importance of free press keeping government in check. He was quoted as saying if he had a choice between “a government without newspapers or newspapers without a government, I should not hesitate a moment to choose the latter.”The basis of the statement being that the government is the opinion of the people. It is not in the current U.S. shipping reporting.The first “newspaper” shipbuilding announcements consisted of new legislation capable of delivering us back to our former maritime dominance.

Russia's only aircraft carrier, the 40-year-old Admiral Kuznetsov, is likely to be sold or scrapped, the chairman of Russia's state shipbuilding corporation told the Kommersant newspaper in comments published on Friday.Andrei Kostin's remarks follow a report in the daily Izvestia newspaper earlier this month, which cited unnamed sources as saying long-running refit and maintenance work on the warship had been suspended.Launched in 1985 when the Soviet Union still existed, the Admiral Kuznetsov saw action in Russia's military campaign in Syria in support of then-President Bashar al-Assad…

China is threatening to block the sale of more than 40 ports, owned by Hong Kong-based CK Hutchison, to BlackRock and Mediterranean Shipping Company (MSC) if Chinese shipping company Cosco does not get a stake, the Wall Street Journal reported on Thursday, citing unnamed sources.Reuters could not immediately verify the WSJ report.CK Hutchison, MSC, BlackRock and Cosco did not immediately respond to Reuters' requests for a comment, while the Chinese government could not be immediately reached outside office hours.Chinese officials have told BlackRock…

Japan will export used navy destroyers to the Philippines to strengthen its deterrence against China's maritime expansion, the Yomiuri newspaper reported on Sunday, as the two U.S. allies increase cooperation to counter Beijing.The export plan involves six Abukuma-class destroyer escorts in service with the Japan Maritime Self-Defense Force for more than three decades, the Japanese daily said, citing multiple unnamed government sources.Defence ministers Gen Nakatani and Gilberto Teodoro agreed to the destroyer export when they met in Singapore last month…

Military leaders are working to enforce a "one-theatre" concept in both the East and South China seas, the Philippines' defence minister said on Monday, adding that the Southeast Asian country facesthreats in disputed waters that are similar to Japan's.Japanese newspaper Asahi reported in April that Japanese defence minister Gen Nakatani made a proposal to U.S. Pentagon Secretary Pete Hegseth to consider the East China Sea, the South China Sea, the Korean Peninsula and surrounding areas as a single "theatre"…

A British Royal Navy patrol vessel has sailed through the Taiwan Strait, a Navy spokesperson said on Thursday, saying the passage complied with international law."HMS Spey's routine navigation through the Taiwan Strait was part of a long-planned deployment and took place in full compliance with international law," the spokesperson said in a statement.While Britain's Ministry of Defence did not say when the passage took place, Taiwan's foreign ministry said in a statement that…

Australia plans to significantly boost surveillance of Pacific Islands territorial waters, spending A$477 million ($310.72 million) on aerial patrols for illegal fishing fleets, tender documents viewed by Reuters show, as China takes steps towards sending its coast guard to the region.Australia's Prime Minister Anthony Albanese will visit Fiji on Friday, the Fiji Times newspaper reported, after the government of Prime Minister Sitiveni Rabuka last week approved a maritime security…

Russian President Vladimir Putin has approved a new naval strategy which aims to fully restore Russia's position as one of the world's leading maritime powers, Kremlin aide Nikolai Patrushev said in an interview published on Monday.Russia has the world's third most powerful navy after China and the United States, according to most public rankings, though the navy has suffered a series of high-profile losses in the Ukraine war.Patrushev, a former KGB officer who served with Putin in the northern Russian city of St Petersburg during Soviet times…

U.S. private equity firm Cerberus Capital Management has expressed interest in acquiring the lease to Australia’s strategically vital Darwin Port, according to a senior executive at Landbridge, the Chinese company currently operating the port.Terry O’Connor, non-executive director for Landbridge in Australia, confirmed that a Cerberus executive recently met with Darwin Port CEO Peter Dummett to discuss a possible acquisition. However, he noted that Cerberus had not yet entered formal talks with Landbridge’s board.

South Korea's state-run Korea Development Bank plans to sell its shares in Hanwha Ocean, Maeil Business Newspaper reported on Monday.KDB plans to split its 19.5% shares in the shipbuilder into multiple block sales, after a bookbuilding from Monday, the newspaper reported, without citing clear sources.KDB was unavailable for comment after business hours.KDB is the second-largest shareholder in Hanwha Ocean, after Hanwha Aerospace, which owns a 30.4% stake, according to LSEG data.The shipbuilder…