Us News

Brent crude ticked slightly higher on Friday but was still on track for a more than 8% weekly decline after Israel and Hezbollah agreed to a ceasefire and tanker traffic through the Strait of Hormuz increased.Brent crude futures were up 20 cents, or 0.25%, at $80.05 a barrel by 10:55 a.m. ET, while U.S. West Texas Intermediate crude was up 25 cents, or 0.33%, at $76.85 per barrel.Trading volumes were light due to a U.S. federal holiday.Oil shipments through the Strait of Hormuz picked up on Friday after the signing of the deal…

Oil shipments through the Strait of Hormuz picked up on Friday after the United States and Iran signed a ceasefire deal, with Gulf producers preparing to raise exports despite concerns over conditions set by Tehran for using the vital waterway.Washington and Tehran released the text of an interim agreement signed on Wednesday to end the conflict, although U.S. President Donald Trump warned he could resume attacks and target Iranian officials if commitments are not honoured.At least four tankers carrying crude…

Maritime engineering consultancy BMT and Australian shipbuilder Austal have signed a strategic agreement aimed at expanding ship design and engineering capacity while supporting the delivery of commercial and defense shipbuilding programs.The agreement establishes a framework that allows Austal to access specialist naval architecture and engineering resources as project requirements fluctuate, helping the company manage peak workloads and reduce schedule risks.Under the arrangement…

Oil prices rose on Friday as the prospect of a lasting truce between the U.S. and Iran was clouded after peace talks in Switzerland were called off and as Israel stepped up attacks on Lebanon.By 0645 GMT, Brent crude futures LCOc1 gained 51 cents, or 0.64%, to $80.36 a barrel, and U.S. West Texas Intermediate crude CLc1 rose $1.28, or 1.7%, to $77.88 a barrel, with the front-month July contract expiring on Monday. Both contracts were headed for a weekly loss of about 8%.The more actively traded WTI August contract CLc2 was up 59 cents at $76.44 a barrel.Switzerland said U.S.

Iran's Supreme National Security Council said in a statement on Thursday that the country's Persian Gulf Strait Authority will take measures to issue fast authorizations to ships wanting to pass through the Strait of Hormuz as per the memorandum of understanding signed by Tehran and Washington.Measures on mine clearance will be carried out under the Islamabad MoU, though ships are advised to stick to the path and timing allocated by the authority, the statement published by state media added.The U.S.

OPEC maintained its forecast for robust global oil demand growth in the next four years on Thursday and nudged up its longer-term view, citing a worldwide shift towards more supportive policies for oil use and saying there was no sign demand would peak.The 11-member Organization of the Petroleum Exporting Countries depends on oil for a large part of government income, and its views on demand are higher than those of others in the industry, such as the International Energy Agency.World demand will rise to 113.3 million bpd in 2030 from 105.1 million barrels per day in 2025…

Germany is deploying two ships to the Red Sea in preparation for a possible military mission in the Strait of Hormuz, Germany's defence minister, Boris Pistorius, said on Thursday.Hours after U.S.

NYK Bulkship (Asia) Pte. Ltd. (“NBAsia”), a Singapore-based company of the NYK Group, has concluded a time-charter contract with JERA Co., Inc. for two very large gas carriers (VLGCs)* from NBAsia to JERA. The contract follows continued discussions and evaluations conducted under a memorandum of understanding signed in 2022 and heads of agreements reached in December 2025.The two VLGCs covered by the Contract are expected to transport low‑carbon ammonia produced in the U.S. state of Louisiana to JERA’s Hekinan Thermal Power Station (Hekinan City, Aichi Prefecture).

ALMACO Group Inc., a leader in engineering, procurement, and construction (EPC solutions) for the marine and offshore industries, has officially announced its expansion into League City, Texas. Operational from June, 2026, the new location, operating under the name ALMACO Gulf Coast, will serve as a key regional hub to support accelerating shipbuilding efforts along the U.S. Gulf Coast.The new League City hub aims to firmly position the company as an integrated local partner.The new office is strategically located in a high-growth maritime environment at 2600 South Shore Boulevard…

"Global fertilizer shipments have fallen 11% y/y since the start of the Iran war. The closure of the Strait of Hormuz has restricted fertilizer exports from the Persian Gulf, tightening the global supply and increasing prices. The ceasefire agreement between the US and Iran could lead to a rebound in shipments,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.Under normal conditions, 16% of global fertilizer shipments come from the Persian Gulf and pass through the Strait of Hormuz. The closure of the strait has significantly disrupted cargo volumes.

U.S. liquefied natural gas producer (LNG) Venture Global and German utility EnBW have signed new binding agreements for the supply of approximately 0.82 million tonnes per annum (mtpa) of LNG over a period of about five years beginning in 2026.The LNG will be supplied from Venture Global's portfolio and adds to the companies' existing long-term sales and purchase agreements covering 2 mtpa over 20 years.The new agreements strengthen Venture Global's position as a supplier of LNG to Germany and Europe…

Middle East oil producers face a reckoning. The Iran war exposed the dangers of relying on a single chokepoint for vital oil and gas exports, leaving Gulf governments with a clear strategic imperative: diversify – at all costs.An Iranian blockade of the Strait of Hormuz had long been viewed as a “Doomsday” event that would never happen. Experts assumed it would require a massive military effort and that Tehran would be reluctant to choke off its own exports.Those assumptions were proven painfully wrong.

Oil prices fell by more than $2 per barrel on Thursday after the U.S. and Iran signed an interim agreement that would end the Iran war, reopen the Strait of Hormuz and waive U.S. sanctions on Tehran's oil, boosting the oil supply outlook.Brent crude futures LCOc1 were down $2.14, or 2.69%, at $77.41 a barrel as of 0616 GMT, and U.S. West Texas Intermediate CLc1 fell $2.36, or 3.07%, to $74.43 a barrel.Brent sank to its lowest since March 2, which was the first day of trading after the U.S.

Intellian Technologies, a provider of satellite communication antennas and ground gateway solutions, announced the opening of its new manufacturing facility in California. Marking the company’s first large-scale international manufacturing campus, this facility is now fully operational to meet the surging global demand for ground infrastructure driven by the rapid expansion of Non-Geostationary Satellite Orbit (NGSO) satellite networks.The new 75,500 sq ft facility boosts the company’s global production capacity, supplementing its existing two manufacturing campuses in Seoul, South Korea.

While U.S. President Donald Trump has recently hailed the resumption of oil flows from Gulf allies, Iran, too, appears to be gearing up to resume exports and trading.At least three tankers carrying some five million barrels of Iranian oil have sailed through the U.S. naval blockade this week, shipping data shows, despite the U.S. military saying its operations against Iran-linked shipping will stay in place until Friday.The oil market has focused on a deal to end the Iran war…

U.S. President Donald Trump said on Wednesday he had held a "very good" conversation with Indian Prime Minister Narendra Modi during the G7 summit in France and that their two countries were working on trade deals.Trump called Modi a "tough negotiator," and told reporters that he would be going to India "sometime in the future".India has been pressing the United States for months for a Trump trip, potentially as part of a meeting including Japan and Australia.The two leaders' meeting is their first since February 2025…

Geopolitical uncertainty, decarbonization, digitalization and new energy efficiency requirements are fundamentally reshaping the maritime industry. At the joint press conference for SMM 2026, MS&D Conference & Expo and ALL ABOUT PORTS, representatives from industry, shipping the port sector and maritime organizations discussed the key challenges and opportunities facing the future of the industry. While SMM puts the key future challenges facing the maritime industry centre stage, the MS&D Conference & Expo focuses on current issues in maritime security and defense.

VINGA vessel naming ceremony and 40 years of design collaborationcutFOLDER-VINGA-serien-webb.pdf [Full background and tech spec - MR DEC 2026cutVinga VesselA newly built tanker in Furetank's VINGA series will be named at the Port of Uddevalla on 28 August. The vessel was designed by Furetank and FKAB Marine Design, the cumulative of 40 years of vessel design collaboration."We know operations and FKAB knows shipbuilding. Our collaboration has been a winning equation over the years — one plus one has equalled three.

Italian engineering, certification and consulting company RINA has secured a contract to provide safety assessment services for Indonesia's Green Hydrogen Hub Project H2WATT, a key initiative being developed by PLN Puslitbang, the research and development arm of state-owned utility PT PLN.The H2WATT project is aimed at supporting Indonesia's energy transition through the development of an integrated green hydrogen ecosystem and forms part of the country's broader efforts to build a low-carbon energy framework.Under the contract…

The world oil market will recover gradually from the closure of the Strait of Hormuz before tipping into a significant surplus in 2027, the International Energy Agency said in its monthly oil market report on Wednesday.The U.S. and Iran reached an agreement to end the three-month-old war, which includes Iran reopening the Strait of Hormuz and the U.S. lifting its naval blockade, potentially bringing an end to the largest oil supply disruption in history which shut in over 14 million barrels per day of Middle East oil output…

At least three tankers carrying Iranian oil have sailed through the U.S. naval blockade this week, with a fourth, an empty vessel, heading towards the Gulf of Oman, after the U.S. and Iran agreed a framework deal to reopen the strategic Strait of Hormuz, shipping data showed.The shipments indicate a gradual resumption of Iranian oil exports that are expected to add to global supplies although demand from China, its biggest buyer, has been lacklustre due to poor domestic margins.Very Large Crude Carriers Hero II and Diona…

A group of US regional partners have come together to form the Northern Grain Belt Ports Initiative.The Initiative, several years in the making, is an offshoot of the regional Corn Belt Ports Initiative, which works primarily with rural, regional inland ports to promote competitiveness, sustainability, resiliency, and integrity of inland regional port systems.The group consists of the Joint Board of Harbor Commissioners (Port of La Crosse), the City of Prairie du Chien, the Mississippi River Regional Planning Commission (MRRPC)…

Imports to the busiest U.S. container port in Los Angeles hit the second-highest level in history during May, as retailers rushed in products like plastic school supplies before cargo ship owners start recouping higher fuel costs from the Iran war on July 1.The Iran war has snarled shipping in the Middle East and reduced the availability of crude oil and its derivatives used to make plastic and other goods. Marine fuel costs have soared and some retailers and manufacturers are…