Shipping News

Safe and sustainable passage through the Strait of Hormuz is what top shipping companies require before the world's sees much oil or cargo leave or enter the Gulf, two top sector executives said on Wednesday."Two weeks ago when the ceasefire, said to be temporary, came into picture, we thought there was hope. But in reality, the agreement was not translated into the safety and passage (of the vessels)," Jotaro Tamura, chief executive of Japan's Mitsui O.S.K. Lines, told Reuters…

Wind propulsion company bound4blue has completed the installation of two suction sails on a newbuild vessel for Klaveness Combination Carriers (KCC).The two 24-metre eSAILs were installed on the MV Baltazar at New Yangzi Shipbuilding in China, with the vessel expected to begin operations in the third quarter of 2026.The project marks the company’s first installation of suction sails manufactured locally in China and is among the early applications of the technology on combination carriers.“This is a landmark project in many respects.

Iran said it had captured two container ships seeking to exit the Gulf via the Strait of Hormuz on Wednesday after firing on them and another vessel, in its first seizures since its war with the United States and Israel began in February.Iran's semi-official Tasnim news agency reported the seizures and added its Revolutionary Guard Corps Navy had warned that any disruption to order and safety in the strait would be considered a "red line."The seizure of one of the ships, the Panama-flagged MSC Francesca…

Oil prices jumped on Wednesday with Brent trading above $100 a barrel, erasing earlier losses following reports of gunfire attacks on at least three container ships in the Strait of Hormuz.Brent crude futures LCOc1 were up $1.59, or 1.6%, at $100.07 a barrel at 0842 GMT. West Texas Intermediate futures CLc1 rose $1.51, or 1.7%, to $91.18. Both benchmark contracts rose about 3% on Tuesday.At least three container ships were hit by gunfire in the Strait of Hormuz on Wednesday, maritime…

Shipping traffic through the Strait of Hormuz remained broadly halted on Tuesday with only three ships passing the waterway in the past 24 hours, shipping data showed.A U.S. blockade of Iranian ports has infuriated Tehran, prompting it to maintain its own restrictions on the strait, which had been typically handling roughly one-fifth of the world's oil and liquefied natural gas supply.The Ean Spir products tanker, which had no known flag or known ownership, sailed through Hormuz on Tuesday after previously calling at an Iraqi port…

Fraudulent messages promising safe passage through the Strait of Hormuz in exchange for cryptocurrency have been sent to some shipping companies whose vessels are stranded west of the waterway, Greek maritime risk management firm MARISKS has warned.The U.S. has maintained its blockade of Iranian ports, while Iran has lifted and then re-imposed its blockade of the Strait of Hormuz, through which roughly a fifth of the world's oil and liquefied natural gas passed before war broke out in the Middle East.Amid ceasefire talks…

Reopened Middle East shipping and plummeting oil prices on Friday boosted bets the Federal Reserve may begin cutting interest rates as soon as December, but its policymakers still face a tangled outlook ahead of their April 28-29 meeting.Iran's announced reopening of the Strait of Hormuz pushed oil below $90 a barrel for the first time in more than five weeks, but U.S. central bank officials will now need to assess how much damage the seven-week conflict has done to underlying price trends…

All ships can sail through the Strait of Hormuz but this needs to be coordinated with Iran’s Islamic Revolutionary GuardCorps (IRGC), a senior Iranian official told Reuters, adding that unfreezing Iranian funds was part of the deal.Foreign Minister Abbas Araqchi wrote on X that the strait was open after a ceasefire accord was agreed in Lebanon, while U.S. President Donald Trump said he believed a deal to end the Iran war would come "soon", although the timing remains unclear.The Iranian official said transits would be restricted to lanes that Iran deemed safe…

European countries such as Belgium, the Netherlands and France have mine clearance capacity which could help secure passage through the Strait of Hormuz, French Defence Minister Catherine Vautrin told French TV station TF1 on Friday."There are capabilities to provide fully supported escort services – that is to say, in no way offensive, of course – for ships to ensure safe passage through the strait; that is what will be debated today in Paris," she added.France and Britain are set to chair on Friday a meeting of around 40 countries aimed at signalling to the United States that some of its clo

ZIM Integrated Shipping Services Ltd. announced that Mr. Eli Glickman, the President and Chief Executive Officer of the Company, informed the Board of Directors of his decision to depart from the Company. Mr.Glickman will continue to serve as Chief Executive Officer of the Company during a six-month notice period, to ensure orderly operations of the Company during the interim period until his replacement assumes the role.The Board of Directors intends to initiate a search process to select a successor to Mr. Glickman in the coming weeks.Mr.

The U.S.-sanctioned tanker Rich Starry made its way back to the Strait of Hormuz on Wednesday after exiting the Gulf the day before, shipping data showed, failing to break through a U.S. blockade on vessels calling at Iranian ports.U.S. President Donald Trump announced the blockade on Sunday after weekend peace talks in Islamabad between the U.S. and Iran failed to reach a deal."During the first 24 hours, no ships made it past the U.S. blockade," the U.S. Central Command saidon X, adding that six vessels complied with directions from U.S.

Wärtsilä Gas Solutions has been contracted to supply cargo handling and fuel gas supply systems for two very large ethane carriers (VLEC) under construction at Hyundai Heavy Industries (HHI).The vessels are being built for a Malaysian shipowner, with the order booked in the fourth quarter of 2025.Wärtsilä’s scope includes engineering of the cargo handling and fuel gas supply systems, as well as delivery of equipment, instrumentation and an integrated cargo control system.The company said its systems form essential elements of the vessel design…

China urged calm and restraint by all sides on Monday, following U.S. President Donald Trump's threat to blockade the Strait of Hormuz after the failure of weekend talks in Islamabad aimed at ending the Iran war.Before the war, most Iranian oil exports were shipped to China, the top global importer of crude.Keeping the key Strait of Hormuz waterway safe, stable and unimpeded served the interest of the international community, foreign ministry spokesperson Guo Jiakun told a regular press conference…

Oil prices surged on Monday as the U.S. moved to impose a blockade on Iranian shipping after the collapse of weekend peace talks, while the dollar rose and stocks and bonds fell.The U.S. move, aimed at putting pressure on Tehran, leaves a fragile ceasefire hanging in the balance and no end in sight to the choke on Middle East energy exports - though the mood on trading floors leaned toward hoping for a resolution.Brent crude futures LCOc1 were up 7% at $102 a barrel - a gain of more than 40% since the war shut navigation of the Strait of Hormuz.

British Prime Minister Keir Starmer said on Monday that whatever the pressure, Britain would not be dragged into the Iran war nor be involved in a blockade of the Strait of Hormuz."We're not supporting the blockade," he told BBC Radio 5 Live, adding that it was vital to get the Strait reopened."It is, in my view, vital that we get the Strait open and fully open, and that's where we've put all of our efforts in the last few and we'll continue to do so," Starmer said.Britain had minesweepers in the region…

Brazilian mining firm Vale has signed an agreement with China's Shandong Shipping Corporation to build the world’s first ocean-going vessels powered primarily by ethanol, as part of efforts to cut emissions in maritime transport.The agreement covers the construction of two Guaibamax bulk carriers under 25-year contracts, with delivery scheduled from 2029 and options for additional vessels.The ships will be capable of running on ethanol, methanol and conventional bunker fuel, with…

Shipping traffic around Belgium's Port of Antwerp has been partially halted because of an oil spill that has spread from one of the port's docks into the river Scheldt.Antwerp harbour typically handles 60 to 80 ships daily. A port spokesperson could not immediately say how long traffic will remain halted or how many ships would be affected."An oil spill occurred during a bunkering operation in the Deurganckdock.

Ship traffic through the Strait of Hormuz stood at well below 10% of normal volumes on Thursday despite a U.S.-Iran ceasefire as Tehran asserted its control by warning ships to keep to its territorial waters while doing so.Hundreds of tankers and other ships have been stuck inside the Gulf since the Iran war began on Feb 28, cutting global oil supply by 20% in the world's biggest-ever supply disruption. Prices for some physical oil grades hit fresh all-time highs on Thursday as the crisis showed little signs of abating.Iran must open the strait without conditions…

Grieg Maritime Group has signed a contract with GT Wings to install at least two of their AirWing20 on their fleet.Energy efficiency will be crucial for both climate action and commercial success going forward. Waiting for new fuels and new ships will not be enough to succeed; measures must also be implemented on the existing fleet.The GT Wings AirWing20 is a Jet Sail that will enable Star Kirkenes to take advantage of the wind, reducing fuel consumption.The AirWing was selected for its high thrust output and compact footprint…

Belgian shipowner Exmar has named two ocean-going ammonia dual-fuel midsize gas carriers, said to be the world’s first, marking a milestone in the development of low-emission shipping.The two vessels, ANTWERPEN and ARLON, were built in South Korea in cooperation with HD Hyundai as part of a multi-year development programme.Each vessel has a cargo capacity of about 46,000 cubic metres, including 45,000 cubic metre cargo tanks and two 500 cubic metre deck tanks. The design incorporates…

Shippers on Wednesday said they needed more clarity on the terms of the U.S.-Iran ceasefire before resuming transit through the Strait of Hormuz, as Iran said the waterway remained closed to vessels sailing without a permit.The six‑week conflict had brought traffic through the strait - a chokepoint for about 20% of global oil and liquefied natural gas (LNG) shipments - close to a standstill, pushing global energy prices sharply higher.Iran said it would offer safe passage in coordination with its armed forces…

Commodities trader Glencore and Taiwan's state refiner CPC have chartered a tanker each to load Middle Eastern crude for Asia, while vessels in the Gulf are preparing to exit via the Strait of Hormuz, a day after the ceasefire in the U.S.-Iran war.The two-week truce hinges on letting ships pass through the strait, a chokepoint for about 20% of global oil and liquefied natural gas (LNG) shipments brought to a near standstill by the six-week conflict, sharply driving up global energy prices.Asian refiners rely on the Middle East for more than half their supply of crude and naphtha…

Shippers said on Wednesday they needed more clarity on the terms of the U.S.-Iran ceasefire before resuming transit through the Strait of Hormuz, as Iran issued fresh warnings about any vessels attempting to sail through the waterway.The six‑week conflict had brought traffic through the strait - a chokepoint for about 20% of global oil and liquefied natural gas (LNG) shipments - close to a standstill, pushing global energy prices sharply higher.Iran said it would offer safe passage in coordination with its armed forces…