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Sources say that the Middle East war insurance rates are rising due to escalating tensions in Hormuz

Posted to Maritime Reporter on June 23, 2025

Insurance sources reported on Monday that war risk insurance rates for shipments into the Middle East Gulf region have increased to 0.5%, up from 0.2-0.3% one week earlier. This is due to U.S. strikes on Iran's nucleus facilities and the growing dangers to the Strait of Hormuz.

Shipping data: Three tankers divert from Strait of Hormuz due to rising tensions

Posted to Maritime Reporter on June 23, 2025

Marine Traffic's ship tracking data revealed on Monday that three empty oil and chemicals tankers had diverted from the Strait of Hormuz, and changed their course. This was amid increasing uncertainty about whether Iran would retaliate in the crucial waterway following U.S.

Mitsui OSK Lines MISC and Petronas establish joint venture for shipping liquefied CO2.

Posted to Maritime Reporter on June 17, 2025

Mitsui O.S.K., Japan's second-largest shipping company. Lines (MOL), Malaysia's Misc Bhd, and Petroliam Nasional Bhd(Petronas), have formed a joint-venture. It said Tuesday that it will operate Liquefied carbon dioxide (LCO2) carriers. MOL announced that the joint company Jules Nautica Sdn.

Shipping group Maersk: US-China agreement is a positive step; shares soar

Posted to Maritime Reporter on May 12, 2025

Maersk, a Danish shipping company, said that on Monday the agreement between China & the United States on a 90-day suspension of tariffs & reciprocal duties is a positive step. At 0948 GMT, shares of Maersk were trading 12.9% higher. In an email…

USTR Greer: Not all Chinese shipping fees will be implemented

Posted to Maritime Reporter on April 8, 2025

U.S. trade representative Jamieson Greer informed lawmakers on Tuesday that the proposed multimillion dollar fees for Chinese-built vessels docking at U.S. port may not be implemented in full and they might not be cumulative. Greer said at a…

Rubio to Panama: China is threatening canal and changes are needed.

Posted to Maritime Reporter on February 2, 2025

A spokesperson for the State Department said that U.S. Secretary Marco Rubio informed Panamanian President Jose Raul Mulino during talks on Sunday that Donald Trump had determined that China's influence threatened the Panama Canal, and that urgent changes were required or the U.S. might act.

Yemen's Houthis complimentary team of Galaxy Leader after over a year, Al Masirah television reports

Posted to Maritime Reporter on January 22, 2025

Sea coast, Houthiowned Al Masirah TV reported on Wednesday. Palestinian militant group Hamas. Council as saying. car provider's owner Galaxy Maritime. Houthi forces at sea on Nov. of war in Gaza. agreement. criminal activities and siege of the Gaza Strip, he said.

Rio Tinto reports missing crew member from ship on route to Australia

Posted to Maritime Reporter on January 1, 2025

Rio Tinto, a miner in Australia, said that a deckfitter aboard its bulk carrier traveling from China to Western Australia had been reported missing the previous week. The Philippine Coast Guard is leading a search-and-rescue operation. Rio Tinto…

ADNOC L&S signs contracts for 23 supertankers worth $4.4bn, according to the state news agency

Posted to Maritime Reporter on November 7, 2024

ADNOC Logistics & Services has signed contracts for $4.4 billion in order to build 23 supertankers that will transport ethane and ammonia, as well as liquefied gas. This was reported by the UAE state news agency on Thursday. ADNOC CEO Abdulkareem Al Masabi stated that the company…

Shipping stocks slide after US port strike ends

Posted to Maritime Reporter on October 3, 2024

Shipping shares fell across Asia Friday, after U.S. port operators and workers reached an agreement to end the strike at docks on the East Coast and Gulf Coast much sooner than expected. Evergreen Marine, Wan Hai Lines, and Yang Ming Marine…

CCTV reports that a major Chinese port has reported a blast on a cargo ship

Posted to Maritime Reporter on August 9, 2024

China's Ningbo Zhoushan Port is one of the busiest in the world. State media reported that an explosion occurred on a container vessel on Friday. According to state media, no casualties have been reported following the explosion on YM Mobility around 1:40 p.m.

After being stopped by the coast guard, a fire-hit tanker enters Malaysia's terminal area

Posted to Maritime Reporter on July 23, 2024

Shipping data from LSEG & Kpler revealed that a tanker involved in a collision last week near Singapore entered the Bertam floating oil storage terminal area on Monday morning, after being intercepted on Sunday by local authorities. On Friday…

Malaysia Coast Guard says that the tanker involved in an explosion has left the site

Posted to Maritime Reporter on July 23, 2024

Malaysia's Coast Guard said on Saturday one of two large oil tanks involved in an accident that resulted in fires on both vessels had left the scene of the accident. It was also believed that the tracking system of that tanker had been turned off.

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