Advantage Tankers Lines up VLCC Newbuild Brace in China
Geneva‑based Advantage Tankers has placed orders for two 307,000 dwt VLCCs with Dalian Shipbuilding Industry Co in China, marking a shift from its usual South Korean suppliers. The vessels, Advantage Venture and Advantage Voyager, are dual‑fuel‑ready and slated for delivery in Q2 2028 and Q3 2029. Advantage already has a VLCC under construction in Jiangsu for Q4 2026 and now holds an orderbook of 11 vessels across VLCC and suezmax segments. The move reflects tightening slot competition and a strategic diversification of its new‑build sourcing.
Transocean Lands Drillship Deal Worth $158m
Switzerland‑based offshore driller Transocean announced it has won a five‑well contract for its Deepwater Asgard drillship in the Eastern Mediterranean. The 390‑day campaign, slated to begin in Q4 2026, is valued at roughly $158 million in backlog, not counting mobilisation fees. The...
Geneva Broker Lightship Reshuffles Top Team
Geneva‑based broker Lightship announced a top‑team reshuffle to fuel the next phase of growth in the dry‑bulk market. Long‑time chief executive Sune Fladberg was promoted to vice chairman, shifting his focus to long‑term strategy and business development. Industry veteran Mark...
Euroseas Locks in 60% Rate Jump for Feeder Vessel
Euroseas has secured a new time charter for its 3,100‑teu feeder vessel EM Kea at $30,000 per day, a roughly 60% increase over the prior $19,000 rate. The contract runs for a minimum of 36 months starting July 14, 2026, with an optional...
Japan Shipbuilding Slots Vanish Amid Order Surge
Japan’s shipyards are effectively booked through 2029, with a three‑and‑a‑half‑year backlog of orders, driven largely by bulk carriers. The Japan Ship Exporters’ Association reports that almost 75% of the pending work is bulk‑carrier construction, leaving virtually no capacity for new...
The End of the Hormuz Bargain
The Strait of Hormuz, through which roughly a quarter of the world’s seaborne oil and large volumes of LNG, fertilizer and key feedstocks travel, is no longer a neutral corridor. Escalating Middle‑East tensions and unilateral toll demands have prompted many...
Wah Kwong Spins Off Dry Bulk Arm with 60-Ship Target
Hong Kong‑based Wah Kwong Maritime Transport has spun off its dry‑bulk operations into a new subsidiary, Wah Kwong Bulk. The unit will combine ship ownership and operation, targeting a fleet of 50‑60 vessels by 2030, including about 30 owned ships...
Wilhelmsen Debuts Vessel Lifecycle Specialist
Wilhelmsen Ship Management has launched Cyclus Marine, a dedicated vessel‑lifecycle specialist that consolidates newbuild supervision, dry‑docking, crew provisioning, retrofits, conversions and recycling under one brand. The company operates from Singapore, Hamburg, Kuala Lumpur and Athens, positioning itself at the heart...
Performance Shipping Offloads Ageing Aframax in $42.6m Deal with Trafigura
Performance Shipping is selling its 2010‑built Aframax P Aliki to Trafigura Maritime Logistics for $42.65 million. The transfer will occur after the vessel’s $30,000‑per‑day charter with Pakistan National Shipping Corporation ends in Q3 2026. Proceeds will repay a $12.8 million Alpha Bank loan...
Dolphin Drilling Lines up $230m Semisub Contract
Dolphin Drilling, the Oslo‑listed offshore contractor, has signed a letter of intent for a $230 million semi‑submersible contract for its Borgland Dolphin rig. The deal would begin in the second half of 2027, following the rig’s current Repsol assignment, and run...
CMA CGM Adds Distribution Muscle with Fattal Acquisition
France’s CMA CGM announced it will acquire 100 % of Lebanon‑based Fattal Group, a distributor operating across eight MENA countries. The deal, slated to close in the third quarter of 2026 pending regulatory clearance, adds a sizable last‑mile and regional distribution platform...
AD Ports Eyes Black Sea Foothold with Constanța Tie-Up
AD Ports Group signed a framework agreement with Romania’s National Company Maritime Ports Administration to explore investments at the Port of Constanța, the Black Sea’s largest hub that handled about 88 million tonnes and 1 million TEU in 2025. The partnership could...
Transocean Locks in $445m Petrobras Drillship Extension
Transocean secured a 1,156‑day extension from Brazil’s Petrobras for its ultra‑deepwater drillship Deepwater Corcovado, adding roughly $445 million to its backlog and keeping the rig operational through November 2030. The agreement includes a short‑term $20 million backlog reduction between April 2026 and September 2027 as...
MSC Hits 1,000 Boxships
Mediterranean Shipping Co (MSC) became the first container carrier to operate 1,000 ships after the delivery of the 11,480‑teu MSC Migsan. The privately held line now runs a 7.3 million‑TEU fleet that is 57% larger than Maersk, the nearest rival, and roughly...
Hormuz Day 46: Blockades and Backchannels
Pakistan’s prime minister announced a second round of US‑Iran talks as the US naval blockade of Iranian ports entered its second day, marking the 46th day of the Hormuz crisis. President Trump confirmed Tehran had reached out for a deal,...
