Asia News

Swedish marine propulsion technology company Berg Propulsion has secured a contract to supply propulsion packages for six 7,000-dwt multi-purpose dry cargo vessels being built by Jiangsu Dajin Heavy Industry in China for UK shipowner and operator Carisbrooke Shipping.The six vessels, designed by Dutch naval architecture firm Groot Ship Design, are scheduled for delivery between the third quarter of 2027 and the first quarter of 2029.Measuring 110 meters in length and 15.45 meters in breadth…

ADNOC Logistics and Services (ADNOC L&S) has ordered four new liquefied natural gas (LNG) carriers from China’s Jiangnan Shipyard for about $900 million, expanding its LNG newbuild program to 18 vessels, while also taking delivery of the first of four very large ammonia carrier (VLAC) newbuilds.The four ships will each have a capacity of 175,000 cubic meters and are scheduled for delivery in 2029. They will be built at Jiangnan Shipyard in Shanghai.The agreement was signed during a visit to the shipyard by ADNOC Managing Director and Group CEO Sultan Ahmed Al Jaber.

Singapore-listed marine logistics company Marco Polo Marine's offshore wind division, PKR Offshore, has signed a framework agreement with Siemens Gamesa for the deployment and charter of two commissioning service operation vessels (CSOVs) for offshore wind projects in Asia.Under the non-exclusive agreement, PKR Offshore will provide two upcoming CSOVs to support Siemens Gamesa across multiple offshore wind projects in Taiwan. The companies will also work together on deploying…

More liquefied natural gas tankers have resumed transiting the Strait of Hormuz in recent days, ship-tracking data showed, and 22 Japan-linked vessels have left the Gulf since Tuesday, Tokyo said, despite renewed fighting in the Middle East.The Strait of Hormuz, a key route for global oil and LNG shipments, has been closely watched by shipping companies and governments following Iranian attacks this week on commercial vessels and U.S.

The possible collapse of U.S.-Iran peace talks and the stop-start flow of tankers through the Strait of Hormuz are a nightmare scenario for Gulf nations desperate to return to normal after a bruising multi-month conflict.What was meant to mark the start of a fragile recovery following the June 17 memorandum of understanding between Tehran and Washington is instead evolving into a period of chronic instability, with each new incident reinforcing doubts over the security of one of the world's most important energy arteries.U.S.

At least four oil and gas tankers have turned back from attempting to transit the Strait of Hormuz, ship-tracking data showed, as renewed attacks on vessels in the critical waterway heightened safety and security concerns.The diversions come after a Qatari liquefied natural gas tanker and a Saudi-flagged crude oil tanker were damaged near the strait on Tuesday following reports that Iran fired missiles at ships in the waterway, prompting maritime authorities to raise the threat risk for transiting vessels to "severe."The LNG tankers Al Ghariya…

Oil prices gained more than 3% on Wednesday after Iran and the U.S. military traded airstrikes and Washington reimposed crude sales sanctions on Tehran, raising fears their fragile truce was unravelling and Middle East supplies could be disrupted again.Brent crude futures LCOc1 gained $2.40, or 3.2%, at $76.56 a barrel at 0645 GMT. U.S. West Texas Intermediate crude CLc1 climbed $2.26, or 3.2%, to $72.70 a barrel.Both benchmarks rose about 3% on Tuesday after the U.S. revoked…

ADNOC and XRG have signed a strategic collaboration agreement with Mitsui to explore opportunities across liquefied natural gas (LNG), crude oil, sulfur, shipping and chemicals, as well as international energy investments through XRG.The agreement establishes a framework for collaboration in areas including crude oil market development and long-term supply, LNG sales and optimization, sulfur procurement and logistics, and shipping solutions for LNG, ammonia, sulfur and other commodities.Through XRG…

Oil rose on Tuesday as traders' nervousness about a lack of progress on peace talks between the United States and Iran offset any price impact of a slight recovery in shipping through the Strait of Hormuz.Brent crude futures LCOc1 gained $1.02, or 1.42%, to $73.01 a barrel, while U.S. West Texas Intermediate crude CLc1 rose 93 cents, or 1.36%, to $69.48 a barrel as of 0748 GMT."The deal is by no means signed yet, so something can still go wrong and any comments from either side…

Iran's Revolutionary Guards fired at least two missiles at commercial ships transiting through the Strait of Hormuz on Monday night, Axios reported, citing two U.S. officials.Two commercial ships suffered significant damage but had no casualties, the report said, citing a U.S. official.Separately, Britain's maritime security agency said a tanker caught fire after being hit by an unknown projectile east of Oman's Limah early on Tuesday.The United Kingdom Maritime Trade Operations…

LS Marine Solution, a subsidiary of LS Cable & System, has started construction of a next-generation cable laying vessel (CLV) designed for long-distance high-voltage direct current (HVDC) and large-scale offshore wind grid projects.A steel-cutting ceremony for the new CLV was held at Tersan Shipyard in Türkiye, with delivery scheduled for the first half of 2028.The vessel will have a cable loading capacity of 13,000 tons and is set to become South Korea’s largest cable layer.Its capacity will allow long-distance cables to be installed in a single voyage…

Maritime trade between Iran and Qatar has resumed after a roughly five-month suspension, Iran’s commercial attaché in Doha told state media on Sunday.An interim deal between Tehran and Washington signed last month announced the end of hostilities after a four-month conflict and mandated a return to pre-war maritime traffic in the Gulf, although transit in and out of the Gulf remains contested.Abbas Abdolkhani said shipping between Iran’s Dayyer port and Qatar’s Al Ruwais port…

A fleet of 10 Japan-linked vessels was exiting the Strait of Hormuz on Monday while a supertanker carrying Saudi crude for South Korea left over the weekend, shipping data on LSEG showed, after the ships were stranded in the Gulf for months because of the Iran war.The Japan-linked ships include six very large crude carriers loaded with 12 million barrels of Middle Eastern crude, two chemical tankers, a vehicle carrier and a container ship, the data showed. The tankers are carrying crudes from Saudi Arabia…

ADNOC’s XRG has completed the acquisition of an additional equity interest in Trains 4 and 5 of the Rio Grande LNG project in Texas, increasing its participation across all five trains currently under construction at the liquefied natural gas (LNG) export facility.The transaction increases XRG's overall participation in the NextDecade-operated project through the acquisition of an additional 7.6% equity interest in Trains 4 and 5 from an acquisition vehicle of Global Infrastructure Partners…

MODEC has completed the forward hull section of floating production, storage and offloading (FPSO) vessel Gato do Mato, marking a key construction milestone for the Brazil-bound offshore production unit.The forward hull section, built at Sumitomo Heavy Industries Marine & Engineering's Yokosuka shipyard in Japan, has departed for China, where it will be integrated with the aft hull section before the vessel moves to the next stage of construction.The project is the first to use…

Iran's state media said on Wednesday a foreign container ship ran aground in the Strait of Hormuz after entering shallow waters outside the shipping route designated by Iranian authorities.State media reiterated the Revolutionary Guards' warning that vessels should transit only through the corridor south of Iran's Larak island, which Tehran says is the sole approved entry and exit route for ships passing through the strait.(Reuters - Reporting by Dubai Newsroom; Editing by Alex Richardson)

Mitsui O.S.K. Lines (MOL) and IBM Japan have jointly developed an artificial intelligence (AI)-powered platform designed to support decision-making in vessel operations by integrating operational, weather and geopolitical information.The platform, which went live on July 1, is centered on MOL's Safety Operation Supporting Center (SOSC), which monitors and supports the safe operation of MOL-affiliated vessels worldwide.The companies said the platform consolidates weather and sea condition data…

Oman's Asyad Group and France's CMA CGM Group have signed a framework agreement to develop, manage and operate a multipurpose logistics terminal in Sohar, establishing a strategic partnership aimed at boosting maritime connectivity and opening new regional trade corridors.The agreement, signed during the official visit of Sultan Haitham bin Tarik to France, provides the framework for the development of a new $400 million multipurpose logistics terminal in Sohar.The companies said the project would enhance integrated logistics services and supply chain solutions…

TGS has secured exclusive rights from the Petroleum Authority of Brunei Darussalam to undertake a multi-client 3D seismic survey offshore Brunei.The contract covers the acquisition, processing and marketing of new 3D seismic data under a multi-client model.TGS said the project would allow it to seek industry prefunding to deliver new seismic data aimed at improving understanding of reservoir potential, de-risking exploration leads and supporting investment decisions ahead of future…

Norwegian shipbuilder Vard has delivered a hybrid construction and cable laying vessel (CLV) to Japan's Toyo Construction, marking its first vessel delivery to the Japanese offshore wind market.The vessel was handed over at Vard Langsten in Norway on June 26. It is also the first vessel Toyo Construction has ordered from Vard.The CLV was outfitted, commissioned and delivered on time from Vard Langsten, while the hull was built at Vard Shipyards Romania-Tulcea.Spanning 151 meters long and 28 meters wide…

Crude prices may be back near levels seen before the Iran war, but the surge in oil exports from the Middle East following the reopening of the Strait of Hormuz is creating a chaotic market that could take months to settle.The steep slide in Brent crude LCOc1 back to pre-war levels of around $73 a barrel following the U.S.-Iran interim deal might, at first glance, suggest business as usual has returned to the world’s most important oil and gas hub. The narrow waterway, which once carried about a fifth of global oil and gas…

Oil prices steadied on Monday as Iran and the United States agreed to halt recent hostilities in the Gulf and Middle East producers pushed ahead with loading oil and liquefied natural gas despite fresh ship attacks.The two countries also agreed to renew talks over the Strait of Hormuz, raising hopes of saving an interim peace deal that had been threatened by days of tit-for-tat strikes.Brent crude futures LCOc1 were up 4 cents at $72.03 a barrel by 0803 GMT. U.S. West Texas Intermediate crude CLc1 gained 44 cents, or 0.6%, to $69.67."There's still plenty of risk facing the oil market.

While oil and gas are once again flowing through the Strait of Hormuz, the closure of the vital waterway for over 100 days could prove to be a turning point in global energy markets. The Arab oil embargo of 1973, a similarly disruptive supply shock, offers clues about where we might be headed.The latest Middle East crisis tested the limits of the modern energy system, which has evolved over recent decades into a highly interconnected global market held together by thousands of tankers…