Maritime Industry Top News
Oil Up 8% as Middle Eastern War Rages
Oil surged 9% on Monday after retaliatory Iranian attacks disrupted shipping in the crucial Strait of Hormuz following the weekend's bombing by Israel and the United States that killed Iranian Supreme Leader Ali Khamenei.A sustained jump in prices would threaten a global economic recovery, spur inflation and could push up U.S. retail gasoline prices, a risky result for President Donald Trump ahead of midterm elections this November.The price surge on the restart of trading after the weekend…
EU Approves German Recycling Yard
The European Commission adopted the 15th edition of the European List of Ship Recycling Facilities which includes the first shipyard approved in Germany, located in Emden.The list renews the inclusion of four EU shipyards in Denmark, Estonia, Lithuania and Spain. Another in Türkiye has also been renewed.Three shipyards have been removed from the list, including a Finnish shipyard that chose not to renew its authorisation…
Memorial Stone Placed at Grave of Antarctic Pioneer Captain John King Davis
A new memorial stone and plaque have been placed at the grave of Captain John King Davis, one of the mostly highly decorated navigators and mariners in the history of Antarctic exploration.Davis served as Chief Officer under Ernest Shackleton during the British Antarctic Nimrod Expedition in 1907 and captained the SY Aurora during the Australasian Antarctic Expedition in 1911, led by Sir Douglas Mawson.Despite his contributions…
Belgium Seizes Suspected Russian Shadow Fleet Tanker
Belgium seized an oil tanker belonging to the Russian shadow fleet on Sunday and suspected of sailing with a "false flag and false documents", Belgian Defence Minister Theo Francken said.Western sanctions imposed on Russia for invading Ukraine and aimed at cutting its oil revenues have led to the rise of a "shadow fleet" of tankers helping Moscow to keep its crude exports flowing."Over the past few hours…
One Presumed Dead and Five Missing after Tug Sinks off South Africa
One person was presumed dead and five crew members reported missing on Sunday after a tug boat sank off South Africa's southern coast, a multi-agency maritime body said.The tug vessel LEO transmitted a distress message at 1702 GMT on Saturday, reporting uncontrolled water ingress and requesting immediate assistance, South African Search and Rescue (SASAR) said in a statement.The ship sank in the early hours of Sunday, approximately 80 nautical miles south of Mossel Bay in South Africa's Western
Frontline Appoints New Director
Frontline’s Ørjan Svanevik has resigned as Director of the company and has been replaced by Mikkel Storm Weum.Weum is employed as an Investment Director in Seatankers Management Norway AS, responsible for sale and purchase, newbuildings and projects. He is also serving as a director on the Board of NYSE listed Flex LNG Ltd and on the Board of NYSE listed Star Bulk Carriers Corp.Prior to being employed by Seatankers Management AS…
Seaspan Introduces New Remote-Controlled Vehicle
Seaspan has introduced Dockboy, its new remote-controlled, ultra-high pressure (UHP) cleaning tool.Dockboy provides high-efficiency hull cleaning that removes ocean build up like barnacles, anti-fouling paint, and coatings off in one go, leaving a consistently paint-ready surface.Dockboy will be a key tool for large ship maintenance projects at Vancouver Drydock and Victoria Shipyards. Fully containerized…
OPEC+ Responds to Hormuz Shutdown
OPEC+ has decided to increase its crude oil production target by 206,000 barrels per day (bpd) for April against a backdrop of heightened geopolitical risk as conflict in the Middle East escalated rapidly over the weekend.Oil markets will enter the new week facing a materially higher risk of supply disruption, as approximately 15 million bpd of crude oil transits the Strait of Hormuz, representing…
Industry Leaders Respond to Attacks on Seafarers
The Secretary-General of the IMO Arsenio Dominguez has issued a statement on the situation in the Strait of Hormuz:“I am deeply concerned by reports that several seafarers have been injured in attacks on merchant vessels. No attack on innocent seafarers or civilian shipping is ever justified. These crews are simply doing their jobs and must be protected from the effects of wider geopolitical tensions.“Freedom of navigation is a fundamental principle of international maritime law…
Vessels Diverted Around Cape of Good Hope
Shipping companies Maersk, Hapag-Lloyd and CMA CGM are rerouting vessels around Africa, away from the Suez Canal and the Bab el-Mandeb Strait, after U.S. and Israeli strikes on Iran and the closure of the Strait of Hormuz."Due to the deteriorating security situation in the Middle East region following the escalating military conflict, we have decided...to pause future Trans-Suez sailings through the Bab el-Mandeb Strait for the time being…
At Least Three Tankers Hit in Gulf
At least three tankers were damaged off the Gulf coast and one seafarer was killed as Iranian retaliation for U.S. and Israeli strikes on Iran exposed ships to collateral damage, shipping sources and officials said on Sunday.Risks to commercial shipping have surged in the past 24 hours, with more than 200 vessels including oil and liquefied gas tankers dropping anchor around the Strait of Hormuz and surrounding waters…
U.S., Israel Stike Iran: What's Next for Shipping
The diplomatic route in Iran is now exhausted, as last night the United States and Israel attacked Iran, sharply escalating security risks for commercial shipping in the Persian Gulf and adjacent waters, prompting immediate operational and insurance repercussions across the global maritime sector.According to Jakob Larsen, Chief Safety & Security Officer at BIMCO, the attacks “dramatically increase the security risk to ships operating in the Persian Gulf and adjacent waters…
Xeneta Weekly Ocean Container Shipping Market Update: February 27, 2026
Peter Sand, Xeneta Chief Analyst:“The recent tariff ruling by the US Supreme Court will have knock-on impacts for ocean container shipping, but this will be nuanced and unlikely to cause a huge increase in frontloading demand, even though tariffs on some Chinese manufactured goods are lower today than a week ago.“The court ruling and political fallout actually increase uncertainty for many shippers.
American Club Reports Positive Progress with 2026 P&I Renewal
The American Club has reported positive developments for the 2026 renewal across all lines of business. Gross tonnage for the Club’s Class I (mutual P&I) entries increased modestly at the turn of the renewal at Noon GMT 20 February 2026, while the tonnage position since the 2025 renewal has increased by 5% and over the same period, Class I premiums have grown by 6%. The Club’s Class II (mutual FD&D)…
Third Purus Daughter Craft Undergoes Final Outfitting, Sea Trials to Come
Daughter Craft No. 3, commissioned by Purus, is progressing through final outfitting ahead of sea trials. Engines are now installed with Volvo Penta IPS drives, and the vessel’s electronics and interior systems are well underway in outfit.Diverse Marine has worked with Chartwell Marine to produce this daughter craft design, with inboard propulsion systems fitted with IMO Tier 3 exhaust after-treatment…
carried Ukrainian and Russian oil before attack
The Druzhba pipeline exported some Ukrainian oil, as well as much higher volumes of Russian crude, before it was damaged a month ago by a Russian strike that has led to a halt in supply, three industry sources familiar with the matter said.Oil shipments to Hungary and Slovakia through the pipeline primarily operated by Russia have been suspended since January 27 following what Kyiv says was a Russian attack on pumping installations in western Ukraine…
Damen Delivers Multi Cat 3113 Vessel to Leask Marine
Damen Shipyards Group has delivered a Multi Cat (MuC) 3113 to Leask Marine. The vessel was named C-Trojan in a handover ceremony at Damen Shipyards Hardinxveld’s location in the Netherlands. The MuC 3113 is a versatile vessel, purpose-built for Leask Marine’s requirements. The company’s fleet includes a Damen MuC 2712, named C-Force. Thanks to its stock building program, Damen delivered this vessel in six weeks following the signing of contract back in 2021.
US DOE Green Light Set to Make Corpus Christi Second Largest US LNG Scheme
The U.S. Department of Energy (DOE) has approved a 12% expansion in exports at Cheniere Energy’s Corpus Christi liquefied natural gas (LNG) terminal in Texas, authorizing additional shipments to non-free trade agreement countries.U.S. Secretary of Energy Chris Wright signed the order allowing exports of up to 0.47 billion cubic feet per day (Bcf/d) of natural gas as LNG from Trains 8 and 9 of the Corpus Christi Stage 3 Project…
Seatrium Delivers Next-Gen WTIV Newbuild to Maersk Offshore Wind
Singapore-based Seatrium has delivered a next-generation wind turbine installation vessel (WTIV) to Maersk Offshore Wind, following the completion of sea trials and final readiness evaluations.The custom-engineered vessel is designed to install 15+ MW-class offshore wind turbines and is equipped with a 1,900-tonne main crane featuring a 180-metre hook height.The construction program included heavy-lift operations…
U.S. Coast Guard Takes Delivery of Fast Response Cutter Named for 9/11 Hero
The U.S. Coast Guard has accepted delivery of the 62nd Fast Response Cutter, USCGC Vincent Danz (WPC 1162), in Key West.Danz was serving in the New York City Police Department, Emergency Services Unit, ESU Truck 3, when he responded to the World Trade Center as part of a massive emergency response and was killed when the World Trade Center collapsed. He was posthumously awarded the New York City Police Department’s Medal of Honor for his heroic deeds.
