Saudi Maritime & Logistics Congress 2026 to Take Place in Jeddah
The Saudi Maritime & Logistics Congress 2026 will be held at the Jeddah Superdome on October 21‑22, with registration now open and free for attendees. The move places the event next to Jeddah Islamic Port, which processes more than 65% of Saudi imports, and aligns with a $1.7 b Red Sea Gateway Terminal upgrade. Organisers cite the venue’s scale and proximity to the Kingdom’s primary commercial hub as key to delivering a global platform for maritime and logistics stakeholders. The congress aims to accelerate Saudi Vision 2030’s maritime ambitions.
Simandou Underpins Big Bulker Rates Rally
The Simandou iron‑ore project in Guinea, now majority‑owned by Chinese interests, has accelerated its export ramp‑up, moving nearly 1.8 million tonnes in April and targeting over 1 million tonnes per week in May. Rail capacity is expanding rapidly, with four new locomotives...
SAAM Towage Orders Five Tugs at Sanmar Shipyards
SAAM Towage has signed a deal with Turkey’s Sanmar Shipyards to acquire five new tugboats, expanding the fleet that already includes 13 Sanmar‑built vessels. The tugs, designed by Robert Allan, will deliver 70‑80 tonne bollard pull and feature Firefighting 1 capability, Kongsberg...
US Charges Container Manufacturing Executives for Price Fixing
The U.S. Department of Justice has unsealed a January 2026 indictment charging four Chinese container manufacturers and seven senior executives with conspiring to restrict output and fix prices of standard dry containers during the pandemic. The alleged cartel doubled the price...
Industry Issues Strait of Hormuz Transit Guidance
Leading maritime bodies—including the International Chamber of Shipping, IMCA, Bimco and OCIMF—have released industry guidance for safe vessel transits through the Strait of Hormuz amid heightened regional security risks. The document advises operators to defer passage if threat assessments worsen...
Hapag-Lloyd Acquisition Target Zim in the Red for Q1
Zim Integrated Shipping Services reported a $86 million net loss for Q1 2026, a sharp reversal from a $296 million profit a year earlier. Revenue fell 30% to $1.4 billion and TEU volumes slipped 8%, while average freight rates dropped 26% to $1,310 per...
Weekly Tanker and Dry Bulk Time Charter Rates - May 20
Alibra Shipping’s weekly report shows tanker time‑charter rates edging higher while dry‑bulk rates slipped in the week to May 20, 2026. Spot rates for VLCCs and Aframaxes rose roughly 12‑15% versus the prior week, reflecting tighter supply of clean crude carriers. Conversely,...
Iran-Linked VLCC Seized by US in Indian Ocean
U.S. forces reportedly seized the Iranian‑linked VLCC Skywave in the Indian Ocean, between Sri Lanka and Indonesia, after it left the Malaysian Eastern Outer Ports Limits anchorage. The 302,481‑dwt vessel, false‑flagged under Botswana, had been sanctioned by OFAC in 2025 and...
Diana Shipping Sells Genco Shares to Fund Genco Acquisition
Diana Shipping sold 108,603 Genco shares, using the proceeds to finance its $23.50‑per‑share acquisition offer. The sale, announced ahead of Genco's June 18 annual meeting, underscores Diana's view that Genco's market price is inflated. Genco’s board has repeatedly rejected the bid,...
Dali Disaster in Baltimore Legal Saga Set to Run
The state of Maryland secured a $2.25 billion settlement with the owners of the container ship Dali after it demolished the Francis Scott Key Bridge, killing six workers. Legal experts warn that the settlement may only address the state’s claim, while...
Hydrogen Alliance Aims to Build Scalable Clean Energy
The Global Liquid Hydrogen Alliance (GLHA), led by ZESTA, is rallying the maritime sector around scalable liquid hydrogen (LH2) as a commercial fuel. Backed by $175 billion of pledged investment and more than 600 announced projects, the alliance highlights regulatory momentum...
ADNOC Fast-Tracks Fujairah Pipeline Expansion
ADNOC is fast‑tracking a expansion of its 48‑inch Habshan‑Fujairah pipeline, aiming to double capacity from 1.5 million to 3 million barrels per day. The move responds to Middle‑East tensions and the Strait of Hormuz blockage, positioning Fujairah as a primary export hub....
Transpac Spot Rates on the Way Up
Consultant Drewry’s latest weekly report shows Transpac spot rates climbing to $3,357 per FEU for Los Angeles and $4,252 per FEU for New York, up 10% and 14% respectively. The surge is driven by emergency fuel surcharges linked to the Strait of...
Wind Propulsion Must Be the Engine of Shipping's Net Zero Future
China’s Ministry of Transport announced a mandatory 15% cut in carbon intensity for international vessels by 2030, backed by a new MRV system and emissions database. The policy, a world first, will pressure low‑rating ships with charter and insurance restrictions....
Iranians Take Floating Armoury Anchored Off Fujairah
Unauthorized personnel seized the Honduras‑flagged fishery research vessel HUI CHUAN, which was operating as a floating armoury off Fujairah, UAE, on 14 May 2026. The vessel’s AIS was switched off and it departed the anchorage, heading toward Iranian territorial waters. UKMTO...
Supply Constraints and Longer Hauls Boost Dry Bulk Market
The Baltic Dry Index has risen 13% since the US and Israel struck Iran in February, reflecting tighter dry‑bulk supply. Drewry estimates 210 bulk carriers are stranded in the Gulf, halting iron‑ore and fertiliser shipments that account for a sizable...
Structural Changes See Bell Toll for Fossil Fuels
Danish Ship Finance’s latest maritime report warns that five independent forces – fiscal recomposition, the energy transition’s shift to equipment imports, China’s evolution into a gatekeeper, the loss of distance as a buffer, and a demographic tilt toward services –...
Study Warns of Cascading Transition Risks for Shipping
A new whitepaper by Erasmus Rotterdam University, the University of Copenhagen and UCL maps how transition risks in shipping—litigation, policy, contracts, technology and social expectations—cascade across operations. It finds that siloed risk management fails to contain exposure, as regulatory changes,...
DNV Revises Down Hydrogen Outlook
DNV’s Energy Transition Outlook Hydrogen to 2060 trims its mid‑century hydrogen demand forecast by 35% after a series of policy setbacks and faster electrification progress. The report still sees the maritime sector as the single largest demand source, contributing roughly...
Probability of Stalemate in the Strait Shoots Up
President Trump called Iran's conditions for ending hostilities "totally unacceptable," pushing the probability of normal ship traffic through the Strait of Hormuz to a low 50% for 20 transits per day by the end of May, with only a 10%...
Brazil Clears Shipping Lines to Bid for Santos Mega Terminal
Brazil’s Presidential Chief of Staff Office has ordered the Ports Ministry to lift restrictions on major shipping lines and double the minimum concession fee for the upcoming auction of the Tecon Santos 10 mega‑terminal. The fee now stands at roughly...
Protecting Seafarers Lives IMO’s Top Priority in Middle East Conflict
International Maritime Organization Secretary‑General Arsenio Domínguez warned that roughly 20,000 seafarers aboard 1,500 vessels are trapped in the Strait of Hormuz after the waterway’s closure amid the Middle‑East conflict. He highlighted more than 30 ship attacks and ten crew deaths,...
ABS Acquires RMC Global
ABS Consulting announced the acquisition of US‑based RMC Global, a specialist in industrial cybersecurity, risk management and resiliency solutions. The deal merges RMC’s technical expertise with ABS’s 164‑year legacy of consulting services. Both firms emphasized shared culture and mission to...
US LNG Exports Burning Bright
The United States has emerged as the de facto leading LNG exporter after recent attacks crippled Middle‑East liquefaction capacity, said Jeff Wilson of Howden at the Marine Insurance Greece conference. U.S. liquefaction capacity has risen from virtually zero in 2012 to...
Ukraine War Began Decline of Rules-Based Global Market
At the Marine Insurance Greece conference, Hellenic Chamber board member Yannis Triphyllis linked the Ukraine war to the unraveling of the rules‑based maritime market. Speakers highlighted the United States’ plunge from 63% to under 1% of global tonnage and China’s...
Maersk’s Container Business in the Red in Q1
Maersk’s ocean shipping division recorded a $192 million EBIT loss in Q1 2026, a sharp reversal from the $743 million profit posted a year earlier. Revenue fell to $6.67 billion as average loaded freight rates dropped 14% to $2,081 per FEU. Despite the loss,...
Zim Says Hapag-Lloyd Agreement Binding After Surprise Rival Bid
Zim’s board confirmed that the merger agreement with German carrier Hapag‑Lloyd, approved by shareholders on April 30, remains binding despite a surprise $4.5 billion cash bid from Israeli entrepreneur Haim Sakal. Sakal’s offer tops Hapag‑Lloyd’s price by $2.50 per share and adds $250 million...
April Orders for Alternative-Fuelled Ships up Sharply
DNV reported 38 alternative‑fuel ship contracts in April 2026, up sharply from five in March and 17 in February, though still 11 fewer than April 2025. Year‑to‑date orders total 84 vessels, excluding LNG carriers, with LNG (20) and LPG (14)...
Risk Reward Balance Skews Towards Dry Cargo, Says Norden
Norden reported a group net profit of $11.2 m for Q1, but its dry bulk unit posted a –$45 m EBIT loss, while the tanker segment earned $47.3 m EBIT. The loss was driven by sharply higher bunker costs and higher insurance expenses...
Seafarer Happiness Deteriorates During Hormuz Crisis
The Seafarers Happiness Index Q1 2026 shows a rapid decline in crew wellbeing after the US‑Israeli attacks on Iran sparked a Hormuz crisis. Overall happiness fell from 7.35 to 7.01, a 4.6% drop, as vessels were trapped, supplies dwindled, and crews...
Stranded for 60 Days Waiting for an All-Clear that Isn’t Coming
Seafarers have been anchored in the Strait of Hormuz for more than sixty days because the maritime industry has failed to create a coordinated response, not due to vessel damage or cargo disputes. The stalemate reflects a strategic posture by...
US Strikes Iran Fast Boats, Two Vessels Transit Hormuz
The United States launched Project Freedom, a maritime security effort to reopen the Strait of Hormuz, and successfully escorted two U.S.-flagged vessels, including Maersk’s Alliance Fairfax, through the waterway. In response, Iran intensified attacks, striking multiple ships, a Fujairah oil...
Risk of Hormuz Transits Manageable versus Psychological Cost of Inaction
Maritime security firm 3iSea CEO Nicholas Davis warns that over 20,000 seafarers have been stranded in the Arabian Gulf for more than two months, and the psychological toll of inaction now outweighs the manageable risks of transiting the Strait of...
Trump Announces Hormuz Evacuation Plan for Stranded Ships
President Donald Trump announced that the U.S. military will launch “Project Freedom” on May 4 to guide roughly 1,000 commercial vessels and 20,000 seafarers out of the Arabian Gulf and through the Strait of Hormuz. The operation follows Iran’s de‑facto closure...
Shadow Fleet Attacks Widen Maritime Risks Around Russia
Ukraine intensified attacks on vessels carrying Russian crude, striking two shadow‑fleet tankers near Novorossiysk and a Baltic Sea tanker in early May. The assaults follow the April 26 hit on the dark‑fleet tanker Marquise and a April 30 strike on...
Middle East Fertiliser Crisis Likely to Hit Smaller Bulk Carriers
Yara International’s CEO warned that soaring fertilizer prices and a Gulf shipping bottleneck could trigger a global auction, hitting the poorest nations hardest. Around 300 bulk carriers, primarily 20,000‑65,000 dwt handy‑class vessels, are stranded in the Gulf, holding 1.9 million tonnes of...
Brazilian Ministry Asks to Suspend Santos Mega Terminal Bidding Process
Brazil’s Ministry of Ports and Airports has asked Antaq to suspend the bidding for the $1.3 billion Tecon Santos 10 container terminal. The pause is presented as a standard administrative step to review technical, legal and competition issues. The project, which would...
The Jones Act Waiver Extension Triggers Explosive Dialogue
The U.S. administration has extended the Jones Act waiver for an additional 90 days starting May 18, aiming to keep petroleum and LNG shipments flowing amid the ongoing Strait of Hormuz blockade. The original 60‑day waiver, enacted in mid‑March, was intended...
ABS and PIL Ink MoU on Verifying Emissions Reductions
American Bureau of Shipping (ABS) and Pacific International Lines (PIL) have signed a Memorandum of Understanding to provide independent verification of PIL's fuel use, transport activity, and emissions data. The partnership will enable PIL to participate in Book‑and‑Claim carbon registries,...
Suez Canal to Benefit From Hormuz Chaos
CMA CGM has introduced the Ocean Rise Express (OCR) service, averaging 9,334 TEU, with its inaugural 8,488‑TEU vessel departing Shanghai in early February and now transiting the Suez Canal. Soaring bunker fuel costs and soft freight rates are prompting carriers...
ONE Full Year Profit Down 92%, Q4 in the Black
Ocean Network Express (ONE) posted a full‑year FY2025 net profit of $338 million, a 92% plunge from $4.24 billion the year before, while revenue fell 14% to $16.62 billion. The carrier rebounded in Q4, delivering a $55 million profit after an $88 million loss in...
Is This the only Container Ship Trading Through Strait of Hormuz?
The Antigua‑Barbuda flagged container ship Paya Lebar, owned by SeaLead Shipping, transited the Strait of Hormuz westbound on 13 April and eastbound on 28 April, despite a March advisory that halted such passages. While in the Arabian Gulf, the vessel called at...
TT Club Extends War Risk Cover for Containers on Land in Middle East
TT Club announced an "exceptional policy change" that extends marine war‑risk insurance to cover containers while on land in the Gulf and broader Middle East. The new cover supplements existing ship‑, voyage‑, and port‑call protection, allowing shippers to insure rail...
Cosco Shipping Energy Transportation Q1 Profits up 207%
Cosco Shipping Energy Transportation posted a Q1 net profit of RMB 2.17 billion (≈$310 million), up 207% year‑on‑year, driven by soaring crude‑oil‑tanker rates after Iran closed the Strait of Hormuz. Operating revenue rose 27% to RMB 7.3 billion (≈$1.06 billion), with the oil‑tanker segment alone increasing...
Hormuz Deadlock Spurs Landbridge Developments
The Hormuz blockade is prompting Saudi Arabia and Egypt to build a landbridge logistics corridor that bypasses the Strait of Hormuz, linking Gulf ports to the Mediterranean via rail and sea. The route will run across Saudi to Red Sea...
Nearly 1,200 Filipino Seafarers Have Exited the Strait of Hormuz
Nearly 1,200 Filipino seafarers have safely left the Arabian Gulf since the Iran‑U.S. conflict began on Feb 28, 2026. The latest exits involved 36 crew members aboard the Liberian‑flagged bulk carrier Omicron Nikos and the Russian‑flagged super‑yacht Nord, which transited the...
APM Terminals Valencia Concession Extended Until 2049
The Valenciaport Authority has approved an eight‑year extension of APM Terminals Valencia’s concession, pushing its expiry to 2049 and hitting the 50‑year maximum allowed under Spanish law. The extension is tied to a new investment of more than $12 million aimed...
Elemental Forces Set to Collide in IMO NZF Battle
The International Maritime Organization’s Net Zero Framework (NZF) is under intense scrutiny at the 84th Marine Environment Protection Committee meeting, as the United States, backed by several nations, pushes to derail the policy. Environmental groups are staging high‑visibility protests, while...
Somali Piracy Warning as Second Ship Hijacked
A second vessel was hijacked off Somalia, prompting heightened piracy alerts. The UKMTO reported a cargo ship seized 6 nm northeast of Garacad and earlier the Palau‑flagged tanker Honour 25 seized 30 nm offshore, carrying 17 crew and 18,500 barrels of oil. The...
Panama Canal Auction Slots More than Double in Price
The Panama Canal Authority reported a sharp rise in auction slot prices, with some vessels fetching over $1 million and the average climbing from $135‑$140k to about $385k after the Middle East conflict. Transit activity also rebounded, reaching 6,288 transits in...