Maritime Industry Top News
Nikkiso Partners Exion Asia to Launch Southeast Asia Marine Hub
Nikkiso Clean Energy & Industrial Gases Group (Nikkiso CE&IG) has entered into a strategic service partnership with Exion Asia to establish its first marine hub in Southeast Asia, aimed at supporting growing demand for cryogenic equipment services.Under the agreement, Singapore will serve as Nikkiso’s Southeast Asia Marine Hub, providing regional support for cryogenic pumps and related equipment used…
Loaded LNG Tankers from Qatar Turn Back Before Hormuz Crossing
Two vessels loaded with liquefied natural gas (LNG) from Ras Laffan, Qatar, turned back after they moved eastward towards the Strait of Hormuz, ship-tracking data showed on Monday.Had the vessels successfully crossed the strait, it would have been the first transit of LNG cargoes through the waterway since the U.S.-Israel war with Iran began on February 28.Data from analytics firms Kpler and LSEG showed the vessels, Al Daayen and Rasheeda, loaded their cargoes in late February.
India Resumes Iranian Oil Imports After Seven-Year Hiatus
Indian refiners have purchased Iranian oil amid the Middle East conflict that has disrupted supplies through the Strait of Hormuz, the oil ministry said on Saturday.The world's third-biggest oil importer and consumer, India has not received a cargo from Tehran since May 2019, following U.S. pressure not to buy Iranian crude, but supply disruptions from the U.S.-Israel war have hit the South Asian nation hard."Amid Middle East supply disruptions…
Five EU States Press for Windfall Tax on Energy Firms as Prices Surge
Five European Union countries are calling for a windfall tax on energy companies' profits in reaction to rising fuel prices due to the Iran war, according to a letter from finance ministers to the EU Commission seen by Reuters on Saturday.The finance ministers of Germany, Italy, Spain, Portugal and Austria made the joint call for an EU-wide tax in a letter dated Friday. Such a measure could help fund…
Oil Holds Steady as Supply Risks from War Persist
Oil prices were little changed in choppy trade on Monday, as investors awaited clarity on the status of talks between the U.S. and Iran even as they remained wary about sustained supply losses due to shipping disruptions.Brent crude futures LCOc1 rose 76 cents, or 0.7%, to $109.79 a barrel at 0656 GMT. U.S. West Texas Intermediate crude CLc1 futures were trading 53 cents, or 0.5% lower, at $111.01…
Ship Recyclers Face Clouded Price Recovery Outlook
Geopolitical risk has overtaken supply-demand fundamentals as the primary price driver in energy markets, and ship recycling is feeling the impact from both sides, as higher oil keeps aging vessels trading while a volatile U.S. dollar makes confident bidding difficult to sustain, says cash buyer GMS.India delivered the week’s most notable currency development, as the rupee rebounded sharply from its record low of 94.42 to 92.73 following intervention measures by the Reserve Bank of India…
ClassNK Awards Autonomous Notation to Domestic Container Ship
ClassNK has granted its “AUTO-Nav2(All)" notation to Japanese domestic liner container ship Genbu, the only newly constructed autonomous ship under the MEGURI2040 Fully Autonomous Ship Program by The Nippon Foundation.This notation identifies ships equipped with an autonomous navigation system approved by ClassNK, and it marks the world’s first case of an autonomous navigation notation being assigned to a vessel operating on medium- to long-distance coastal routes.
Babcock Announces Capability Centre Location in Plymouth
Babcock International Group has confirmed the location for its new Capability Centre in Plymouth - a major milestone in plans to relocate up to 2,000 highly skilled employees into the heart of the city.The new Capability Centre will be based at 40-46 Royal Parade.Establishing this new facility, in addition to the Dockyard, will enable Babcock to free up vital space at its Devonport site, supporting…
DFC, Chubb Announce Additional Partners and Maritime Reinsurance Coverage
The U.S. International Development Finance Corporation (DFC) and Chubb have announced six additional American insurance partners that will provide reinsurance for DFC's Maritime Reinsurance plan: Travelers, Liberty Mutual Insurance, Berkshire Hathaway, AIG, Starr, and CNA.On top of DFC’s $20 billion in rolling coverage, Chubb and these new partners will provide an additional $20 billion, bringing the total Maritime Reinsurance facility to $40 billion.
Petronas-Chartered Tanker Passes Through Hormuz
An oil tanker loaded with Iraqi crude passed through the Strait of Hormuz close to the Iranian coast, a day after Iran said Iraq was exempt from any restrictions to transit the vital sea route, data from LSEG and Kpler showed.The Ocean Thunder loaded about 1 million barrels of Basrah Heavy crude on March 2 and is expected to discharge its cargo in Malaysia's Pengerang, in mid-April, Kpler data showed.The tanker - which the data showed was chartered by Petco…
Ships Near Italy Rescue 32 Migrants, 71 Lost at Sea
Two merchant vessels near the Italian coast recovered the bodies of two migrants and rescued 32 survivors from a boat trying to cross to Europe from Libya on Easter weekend, rescue charities said, citing the survivors as saying 71 others were lost at sea.The victims were transferred to an Italian coast guard patrol boat and brought to the Italian island of Lampedusa, said the groups Mediterranea Saving Humans and Sea-Watch.Italy's interior ministry said it had no comment on the report.
Ukrainian Drones Sink Russian Cargo Vessel
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…
Bahrain Hopes for Council Vote on Hormuz Resolution by Friday
Bahrain's Foreign Minister Abdullatif bin Rashid Al Zayani told the United Nations Security Council on Thursday he hopes for a council vote on Friday on a resolution Bahrain has drafted to protect commercial shipping in and around the Strait of Hormuz.Oil prices have surged since the U.S. and Israel struck Iran at the end of February, kicking off a conflict that has now exceeded a month and effectively…
US Crude Trade at Record After Trump Promises to Continue Attacking Iran
Front-month U.S. crude oil futures were trading at their largest-ever premium over the second-month contract on Thursday as traders scrambled for barrels after U.S. President Donald Trump vowed to continue attacking Iran.Widening backwardation, the market term for immediate deliveries trading at a premium over barrels scheduled for delivery in a later month, suggests investors perceive supplies will…
Concerns Raised by Repeated Chinese Detentions of Panama-Flagged Vessels
Detentions of Panama-flagged vessels by China that followed a Panamanian court ruling raise serious concerns about efforts to undermine rule of law in the Latin American country, U.S. Secretary of State Marco Rubio said on Thursday.The U.S. Federal Maritime Commission said last week that it was closely monitoring a surge in detentions of Panama-flagged vessels in China that appears tied to a Panama…
JA Moody, Phoenix Lighting to Offer Electrical Product Solutions for U.S. Navy, Marine Customers
JA Moody, a supplier of flow control products to the U.S. Navy and marine industry, has announced a strategic partnership with Phoenix Lighting, a leading manufacturer of heavy-duty LED lighting solutions. This collaboration marks JA Moody’s official expansion into electrical products. Through this partnership, JA Moody will offer Phoenix Lighting’s rugged, high-performance LED lighting systems designed specifically for demanding marine, shipboard environments.
World Fuel, West Coast Clean Fuels Launch US Methanol Bunkering Service
World Fuel Services and West Coast Clean Fuels have established a methanol bunkering capability for vessels across U.S. ports, following a pilot fuel delivery in South Florida.The companies said the over-the-water methanol bunkering operation demonstrated a scalable and regulatory-compliant solution that is now ready for wider deployment.The capability includes U.S. Coast Guard-approved procedures…
China Inland Waterways Set for Zero-Carbon Push Under New Partnership
Wah Kwong NatPower and Huzhou Wuxing Ruituo Energy have signed a memorandum of understanding to develop zero-carbon inland shipping corridors, focusing on electrification infrastructure across key waterways in China.The partnership will establish a network of electric vessel charging and battery-swapping facilities, integrating energy supply, digital systems and operational services into a unified platform.The initial phase will focus on the Hangzhou–Jiaxing–Huzhou region in Zhejiang province…
Robert Allan Ltd. Develops RApide 1800 Design for Brazilian Bunkering Operations
Robert Allan Ltd. in conjunction with Indústria Naval Catarinense Ltda. (INC), has announced the development of a new pushboat design. The vessels will support Transpetro’s bunkering operations at terminals in Brazil and form part of a newbuild program for pushboats and barges serving the fuel logistics market.This project marks Robert Allan Ltd.’s first vessels designed for Transpetro, part of Brazilian Oil and Gas major, Petrobras.
Zelim Opens New Canada Office in Nova Scotia
Zelim announced that it is has established a site in Atlantic Canada, marking its commitment to strategic expansion in the North American maritime market. The site will be located at the COVE ocean facility in Dartmouth, Nova Scotia, a major technology hub for maritime innovation.Starting in April 2026, the office premises will serve as a base for Zelim to advance ongoing partnerships and future opportunities in the region for its AI-enabled technologies…