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VLCC freight rates have surged as the onset of US and China port tariffs, with accompanying extra costs and fleet inefficiencies, has added to robust demand for carriage from strong crude production.
The UAE-managed containership Safeen Prestige is reported to have finally succumbed to the fire that engulfed the vessel after it was attacked by the Iranians.
The Philippines has become the latest country to say it has agreed safe passage of the Strait of Hormuz with Iran for its ships.
Taiwanese officials suspect that a Chinese salvage barge damaged a subsea cable off the coast of the Matsu Islands while recovering a grounded fishing vessel.
Greek shipowner Venergy Maritime has been rapidly expanding its newbuilding programme in China across tanker and container segments.
With the Strait of Hormuz closed to all but a trickle of shipping traffic the Saudi Arabian east – west pipeline that connects to Yanbu on the Red Sea has become a lifeline for crude exports.
Three of the permanent members of the UN Security Council have signaled that they do not support a motion to authorize use of force to reopen the Strait of Hormuz, according to the New York Times.
South Korean shipbuilder Samsung Heavy Industries announced that it will be participating in its first U.S. shipbuilding project, working with General Dynamics NASSCO and DSEC.
Operations were briefly interrupted on Wednesday, April 1, at the Port of Kaohsiung, Taiwan, after a departing containership clipped a docked vessel.
Four people aboard a large sailboat were successfully rescued after their vessel began taking on water during a storm in the Bay of Biscay.
From splash247.com
Athens-based Erasmus Shipinvest Group is building out its container ship exposure with a fresh order in China.
From splash247.com
The world’s largest asset management company BlackRock has become a significant shareholder in Samsung Heavy Industries, acquiring a 5.01% stake in the South Korean shipbuilder in a move that signals strong institutional confidence in the longevity of the current newbuilding supercycle.
From splash247.com
The insurance company that paid out $350m to Maryland following the collapse of Baltimore’s Francis Scott Key Bridge has reached a settlement of the same amount with the owner and operator of the container ship Dali, in one of the first deals to be struck ahead of a landmark civil trial set to begin June 1.
From splash247.com
Somalia has officially registered its first vessel under the national flag since the collapse of the country’s central government in 1991, marking what officials describe as a historic step toward restoring maritime sovereignty over the longest coastline in mainland Africa.
From splash247.com
Offshore driller Ventura Offshore has been awarded contract extensions for two of its rigs operating offshore Brazil.
From splash247.com
Malaysian offshore services player Tanjung Offshore, part of T7 Global, has won a one-year work order from the subsidiary of Petronas Carigali, Vestigo Petroleum.
From www.world-grain.com
Low prices, high input costs, weather and MAHA may shape market
From www.world-grain.com
John Grossmann bringing Brazil growth focus to new role
From www.world-grain.com
Lower commodity trading revenue cited by JV partner Conagra
From www.world-grain.com
FAS: Country’s food processing, livestock sectors driving increase
From www.world-grain.com
One facility completed in 2024 with two to be commissioned this year
Despite hopes for de-escalation, Iran's continued retaliatory attacks and the US president's hawkish stance suggest prolonged market pressure. Refined fuel markets, particularly European diesel, also saw significant price increases.
New penalty regulations for wind and solar power producers in India will come into effect from April 2027, increasing charges for deviations from scheduled electricity supply and impacting the clean energy sector.
India's oil prices hit a four-year high as global supply disruptions continue, with OPEC+ considering increased output to stabilize the market. Explore the impact of the West Asia conflict on oil prices and key players in the industry.
LNG bunker fuel prices in Singapore held a premium to Rotterdam on March 31, underscoring a sharp reversal from the discount structure seen earlier this year, as geopolitical tensions and regional supply-demand shifts reshape market dynamics.
From thedigitalship.com
FleetSafe Group introduces a new platform aimed at giving shipowners and managers clearer oversight of assets, compliance and risk.
