China Oil Refiners Feel Safe From Iran Conflict Disruption with Crude Stockpile
Refiners in China, the world's top oil importer, have enough supply on hand to weather near-term disruption from the Iran conflict, bolstered by recent record purchases of Iranian and Russian crude and robust government stockpiling, traders said.A prolonged supply disruption could, however, force the country's refiners to curb output and run down commercial stockpiles, some of the traders said.China has around 900 million barrels in strategic inventories…
Sugar Prices Rise Ahead of Iran War Fears
World sugar prices headed higher on Monday on fears the U.S.-Israel war against Iran, which is disrupting global energy supplies, will prompt Brazilian cane mills to produce more ethanol and less sugar.Ethanol is a cane-based biofuel.
Twenty Five Ships From Seven German Companies Stranded in Strait of Hormuz
At least 25 ships from seven German maritime companies, including two cruise ships carrying about 7,000 passengers, are stranded in Gulf waters and cannot leave through the Strait of Hormuz for security reasons, Germany's shipowners' association VDR said on Monday without naming the companies. Dertour and TUI Cruises said earlier they had suspended or adjusted travel plans across the Middle East after U.S.
Hydrex Replaces Underwater Bow Thruster on Stockholm Ferry
Last month, Hydrex carried out an underwater bow thruster operation on a ferry in Stockholm, in the middle of winter. The operation was scheduled to take place during a planned break in the ferry’s timetable, allowing Hydrex to work without disrupting the vessel’s service and without the need for a drydock visit.Hydrex worked closely with the crew to make sure everything aligned with their operational planning.
J.F. Lehman & Company Acquires Forged Solutions Group
J.F. Lehman & Company, an alternative asset manager focused on the aerospace, defense, government, maritime, environmental and infrastructure sectors, has announced that investment affiliates, including JFL Equity Investors VI, L.P., have acquired Forged Solutions Group, Inc. (FSG).With roots dating back to 1836, FSG is a provider of high specification forgings for the aerospace, defense, and space end markets with a particular focus on flight-critical, rotating aeroengine components.
ClassNK Issues AiPs for Bulk Carrier Concept Designs
ClassNK has issued approvals in principle (AiPs) for the concept designs of Bulk Carrier installed with a Membrane-based Onboard Carbon Capture and Storage System (OCCS) and 83,000m3 Ammonia Carrier with IMO Type B Independent Tank developed by Oshima Shipbuilding Co., Ltd. These AiPs demonstrate its feasibility from regulatory and safety perspectives.The recipients of the AiPs, as well as the applicable rules and guidelines…
ACUA Ocean Unveils FleetMind Integrated Platform Monitoring System for Autonomous Vessels
ACUA Ocean has announced the launch of FleetMind, an integrated platform monitoring system for autonomous vessels, filling a gap in the medium and large unmanned surface vehicle (USV) management capability.While existing autonomy software solutions focus on command and control, navigation and collision avoidance, end users are consolidating the number of systems being deployed. This necessitates a modular approach to the C2 software integration layer…
U.S. Flag Tanker Damaged, 150 Vessels Stranded with Strait of Hormuz Close
Insurance companies are cancelling war risk coverage for vessels in the Gulf as the widening Iran conflict disrupted shipping, leaving at least four tankers damaged, two seafarers killed and 150 ships stranded around the Strait of Hormuz.Shipping through the strait between Iran and Oman, which carries around one-fifth of oil consumed globally as well as large quantities of gas, has ground to a near halt after vessels in the area were hit as Iran retaliated to U.S.
Norwegian Cruise Line Projects Weak Profits
Norwegian Cruise Line Holdings forecast annual profit below Wall Street expectations, as demand for its higher‑priced voyages softened amid economic uncertainty and rising geopolitical tensions.Shares of Norwegian fell about 7% in premarket trading, mirroring a broader market selloff sparked by escalating conflict between the U.S. and Israel, and Iran.
Floater Backlog Showing Signs of Strengthening
After a softer 2025, floater backlog is strengthening for 2026 and beyond, driven by early contracting, strong South American demand, and a growing pipeline of 2027+ programs.By the close of 2025, total floating rig backlog days had fallen 25% compared with 2024. This was in large part due to few contract awards coming out of Brazil, the world’s biggest user of floating rigs. As of the end of January 2026 however…
Maritime Vessel Uptake of Alt Fuels Proceeds ... Slowly
According to the latest figures from DNV’s Alternative Fuels Insight (AFI) platform, 17 new orders for alternative-fuelled vessels were placed in February 2026.This was almost entirely accounted for by LNG-fuelled vessels (14), with all of these orders placed by the container segment. The remaining three orders were for dual-fuelled ethane gas carriers.A total of 37 alternative-fuelled vessels have been ordered in the first two months of the year…
Commercial Vessel Risk Rises Sharply, Insurers Cancel War Risk Cover
Marine insurers are cancelling war risk coverage for vessels and oil shipping rates are set to surge further after the widening Iran conflict left at least three tankers damaged, a seafarer killed and 150 ships stranded around the Strait of Hormuz.Iran has responded to U.S. and Israeli strikes that began on Saturday with retaliatory attacks that have sharply increased risks to commercial shipping in the past 24 hours.In the Strait of Hormuz and surrounding waters…
Oil Up 8% as Middle Eastern War Rages
Oil surged 9% on Monday after retaliatory Iranian attacks disrupted shipping in the crucial Strait of Hormuz following the weekend's bombing by Israel and the United States that killed Iranian Supreme Leader Ali Khamenei.A sustained jump in prices would threaten a global economic recovery, spur inflation and could push up U.S. retail gasoline prices, a risky result for President Donald Trump ahead of midterm elections this November.The price surge on the restart of trading after the weekend…
EU Approves German Recycling Yard
The European Commission adopted the 15th edition of the European List of Ship Recycling Facilities which includes the first shipyard approved in Germany, located in Emden.The list renews the inclusion of four EU shipyards in Denmark, Estonia, Lithuania and Spain. Another in Türkiye has also been renewed.Three shipyards have been removed from the list, including a Finnish shipyard that chose not to renew its authorisation…
Memorial Stone Placed at Grave of Antarctic Pioneer Captain John King Davis
A new memorial stone and plaque have been placed at the grave of Captain John King Davis, one of the mostly highly decorated navigators and mariners in the history of Antarctic exploration.Davis served as Chief Officer under Ernest Shackleton during the British Antarctic Nimrod Expedition in 1907 and captained the SY Aurora during the Australasian Antarctic Expedition in 1911, led by Sir Douglas Mawson.Despite his contributions…
Belgium Seizes Suspected Russian Shadow Fleet Tanker
Belgium seized an oil tanker belonging to the Russian shadow fleet on Sunday and suspected of sailing with a "false flag and false documents", Belgian Defence Minister Theo Francken said.Western sanctions imposed on Russia for invading Ukraine and aimed at cutting its oil revenues have led to the rise of a "shadow fleet" of tankers helping Moscow to keep its crude exports flowing."Over the past few hours…
One Presumed Dead and Five Missing after Tug Sinks off South Africa
One person was presumed dead and five crew members reported missing on Sunday after a tug boat sank off South Africa's southern coast, a multi-agency maritime body said.The tug vessel LEO transmitted a distress message at 1702 GMT on Saturday, reporting uncontrolled water ingress and requesting immediate assistance, South African Search and Rescue (SASAR) said in a statement.The ship sank in the early hours of Sunday, approximately 80 nautical miles south of Mossel Bay in South Africa's Western
Frontline Appoints New Director
Frontline’s Ørjan Svanevik has resigned as Director of the company and has been replaced by Mikkel Storm Weum.Weum is employed as an Investment Director in Seatankers Management Norway AS, responsible for sale and purchase, newbuildings and projects. He is also serving as a director on the Board of NYSE listed Flex LNG Ltd and on the Board of NYSE listed Star Bulk Carriers Corp.Prior to being employed by Seatankers Management AS…
Seaspan Introduces New Remote-Controlled Vehicle
Seaspan has introduced Dockboy, its new remote-controlled, ultra-high pressure (UHP) cleaning tool.Dockboy provides high-efficiency hull cleaning that removes ocean build up like barnacles, anti-fouling paint, and coatings off in one go, leaving a consistently paint-ready surface.Dockboy will be a key tool for large ship maintenance projects at Vancouver Drydock and Victoria Shipyards. Fully containerized…
OPEC+ Responds to Hormuz Shutdown
OPEC+ has decided to increase its crude oil production target by 206,000 barrels per day (bpd) for April against a backdrop of heightened geopolitical risk as conflict in the Middle East escalated rapidly over the weekend.Oil markets will enter the new week facing a materially higher risk of supply disruption, as approximately 15 million bpd of crude oil transits the Strait of Hormuz, representing…
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