India and other nations will seek energy supplies through direct talks with Iran. Coordinated transit routes may emerge. However, a full return to pre-war shipping levels is not expected by 2026. This situation will lead to higher and volatile energy prices.
Strait of Hormuz stalemate, Dali criminal charges over Key Bridge disaster, and China freight filing violations headline the top maritime news of the past week.
Ukraine's drone forces continue to take a heavy toll on the Russian Black Sea fleet, and are reaching further and further into protected regions of the Russian hinterland.
In a worrying harbinger of a possible collapse of the ceasefire in the Gulf, Iran appears to have mounted an attack with three drones against the four operational nuclear reactors at Barakah, located on the coast 150 miles west of Abu Dhabi and close to Qatari and Saudi territory.
Spot rates are rising on the back of higher bunker costs and peak season surcharges but Pacific increases are likely to subside as contract rates are realised.
In a further chapter in the saga of the Dali Francis Scott Key Bridge strike the State of Maryland has reached a $2.25 billion settlement with the vessel’s owner Grace Ocean and operator Synergy Marine.
The U.S. Navy's blockade on Iranian shipping continues to turn back vessels in the Gulf of Oman, but Central Command has not yet sealed up all of its leaks, according to TankerTrackers.com.
Authorities in Argentina are investigating the death of a fisherman who appears to have sickened slowly on board without any prompt attempt at a medevac. A federal court is examining the actions of the vessel's captain and the shoreside doctor who advised on the case.
The Panama Canal has scheduled maintenance on the east lane of the Gatun Locks from 9-17 June as the waterway is experiencing backlogs on both ends, largely driven by the ongoing Middle East situation and disruptions in the Strait of Hormuz.
USS Gerald R. Ford and her strike group returned to base, completing a record deployment and the first combat action for the Navy’s newest carrier.
Two nuclear submarines have made surprise appearances in Gibraltar. The Royal Navy’s HMS Anson arrived in Gibraltar days after an American nuclear submarine that was thought to be USS Alaska made a brief stop in the British overseas territory.
From splash247.com
Saudi oil and gas driller ADES has won one new contract and one extension for two of its rigs. ADES said that Belop, a Nigerian oil and gas exploration and production firm headquartered in Lagos, awarded a new contract for its 1982-built Main Pass IV jackup in Nigeria.
From splash247.com
Malaysia’s Velesto Energy has moved into an asset-light operating model for the first time after securing a drilling contract from Hibiscus Oil & Gas Malaysia using a third-party jackup rig.
From splash247.com
Oslo-listed accommodation rig owner Prosafe has firmed up a previously announced letter of intent with Ithaca Energy for work in the UK North Sea.
From splash247.com
A group of UAE maritime companies has come together to form the country’s first shipbuilders consortium, creating a joint platform aimed at strengthening local shipbuilding, repair and marine engineering capabilities.
From splash247.com
Greek owner JHI Steamship has expanded its growing newbuilding programme with an LR2 tanker order at Japan’s Imabari Shipbuilding.
From splash247.com
Gas shipowner Seapeak has expanded its LNG carrier orderbook with a fresh trio of newbuildings in South Korea, while simultaneously locking in long-term employment for the vessels.
From splash247.com
Irene Rosberg, programme director for the Blue MBA and Blue Board Leadership Programme at Copenhagen Business School, writes for Splash on International Day for Women in Maritime. Women in Maritime Day is an opportunity to celebrate progress, but it should also be a moment for honesty.
From www.world-grain.com
Wellington, Kansas, sites include terminal on BNSF
From www.world-grain.com
Farm Bureau facility only one of its kind in 100-mile radius
From www.world-grain.com
Will explore potential of using imported US corn as feedstock
U.S. oil refiners are experiencing a surge in profits from renewable fuels due to government biofuel mandates and rising diesel prices accelerated by the conflict with Iran, marking a turnaround after years of margin compression.
India's exports reached $43.6 billion in April, the highest in over four years, primarily due to rising oil prices. Imports also increased, resulting in a trade deficit at a three-month high. Explore key insights from the latest trade report and the impact of gold imports.
This comes as the conflict enters its twelfth week. Iran has not eased its blockade of Hormuz. The tanker Karolos was seen sailing away from the strait. Vessel tracking data shows these developments.
From thedigitalship.com
As shipowners introduce more complex vessel technologies and alternative fuel capabilities, crew readiness is drawing greater attention across fleet management strategies.
