Nanjing Tanker Orders Trio of Chemical Carriers
Nanjing Tanker, a Shanghai‑listed subsidiary of China Merchants Group, has signed a contract for three 6,600 dwt stainless‑steel chemical carriers with Yangzhou Dingheng Shipyard. The $71 million deal, including tax, targets delivery in the first half of 2028 and adds to the company’s fleet of over 70 vessels. The order follows recent domestic acquisitions of LR1 and LR2 tankers as the firm pursues a broader fleet renewal strategy. Nanjing Tanker’s chemical arm, which currently operates 12 vessels on coastal routes to Japan, South Korea and across the Taiwan Strait, will increase its capacity with the new ships.
Zodiac Maritime Stacks Tanker Orderbook
London‑based Zodiac Maritime is expanding its crude carrier renewal by ordering five new tankers in Asia. The deal includes four 319,000‑dwt VLCCs from Jiangsu New Hantong Ship Heavy Industry at roughly $120 million each, slated for 2029 delivery, and a 157,000‑dwt...
Union Maritime Bulks up with First Newcastlemax Newbuilds
Union Maritime, a UK‑based tanker operator, is linked to its first Newcastlemax bulk carrier order, potentially securing up to four 215,000‑dwt vessels from China’s Wuhu Shipyard. The deal includes two firm ships and two options at roughly $76 million each, with...
Performance Shipping Orders Suezmax Pair in China
Performance Shipping, the Nasdaq‑listed Greek tanker owner, has signed contracts for two 158,000 dwt suezmax vessels with Shanghai Waigaoqiao Shipbuilding. Each newbuild costs $81.5 million and is scheduled for delivery in October 2028 and May 2029. The ships will be Tier III, scrubber‑fitted and meet...
Navigator Fixes Newbuild Financing
Navigator Holdings secured a $133.7 million loan from ABN AMRO, Crédit Agricole and Nordea to finance two 48,500 cu m liquefied ethylene gas carriers under construction at Jiangnan Shipyard. The facility covers up to 65 % of pre‑delivery and delivery instalments, with the balance funded...
Brazilian OSV Giants OceanPact and CBO to Merge
Brazilian offshore vessel owners OceanPact and CBO Group announced a merger that will create a combined fleet of 73 vessels. The new entity is projected to generate over $778 million in annual revenue and hold a backlog of roughly $2.7 billion. Leadership...
Energy Drilling Founder Marcus Chew to Step Down as CEO
Marcus Chew, founder of Singapore‑based tender drilling specialist Energy Drilling, will step down as CEO and assume the role of executive chairman. Luc Plouzennec, the current VP of operations and marketing, is promoted to CEO, while marketing manager Chua Yong Chiang...
EPS Boosts VLCC Series with Two More Hengli Newbuilds
Eastern Pacific Shipping (EPS) has placed two additional 306,000 dwt VLCC orders with China’s Hengli Shipbuilding, expanding its fleet to ten VLCCs at the yard. The vessels are part of a five‑ship order slated for delivery in 2029‑2030, completing a broader...
KMTC Tied to Six HD Hyundai Boxships
Korea Marine Transport Co (KMTC) has placed a KRW 372.4 bn ($258 m) order for six 1,800‑TEU feeder containerships with HD Hyundai shipyards. The vessels are scheduled for delivery between August 2027 and June 2028, adding to KMTC’s fleet of more than 60 ships that...
Houthis Vow to Resume Attacks Following Iranian Strikes
Following US and Israeli strikes on Iran, Yemen’s Houthi rebels announced they will resume attacks on commercial vessels in the Red Sea, ending a four‑month lull. BIMCO warns that ships linked to US or Israeli interests face heightened risk, though...
CMA CGM Fills Gap Between Japan and Europe
France’s CMA CGM has introduced Ocean Rise Express, a weekly direct service that links Japan and South China with North Europe. The route is operated solely by CMA CGM using a fleet of fourteen 7,000‑to‑10,000 TEU vessels, calling ports such as Kobe, Yokohama,...
Waiting for the Next Cycle Could Sink Your Shipping Strategy
Shipping is undergoing a structural reset as geopolitics forces trade routes to shift, turning volatility into a permanent operating condition. The Red Sea crisis and sanctions on Russian energy demonstrated how quickly voyages lengthen and insurance costs rise, exposing owners...
McQuilling Buys Spanish Broker
New York‑based tanker broker McQuilling has acquired Madrid‑based Medco Shipbrokers for an undisclosed sum, marking the latest step in a wave of consolidation across the shipbroking industry. The purchase expands McQuilling’s geographic reach into Spain and adds Medco’s five‑decade reputation...
New Chinese Entrant Into the Cape Sector
National Fortune Shipping Group, a Chinese firm incorporated in April 2025, announced the acquisition of two second‑hand capesize bulk carriers—NF Fortune and NF Future—at $18.5 million each. The vessels, the 177,200‑dwt Mikata and the 185,900‑dwt Ally, were built in 2005 and...
Petronas Carigali Taps Singapore Firm for Newbuild FPSO
Petronas Carigali awarded a 15‑year firm charter to Singapore‑based OceanSTAR Elite for a new‑build FPSO supporting the Sepat Integrated Redevelopment Project offshore Peninsular Malaysia. OceanSTAR will design, construct, install, operate and maintain the vessel, the third unit using its standardized...
Reach Subsea Lands Equinor Pipeline Survey Deal
Norwegian offshore services firm Reach Subsea has been awarded a contract by Equinor, on behalf of Gassco, to conduct external inspections of roughly 3,500 km of subsea pipelines. The inspections will span Gassco’s network in Norwegian waters and export routes to...
Fire Horse Freight Frenzy: VLCC Markets Smash Records in Supertanker Anniversary Year
The 2026 Year of the Fire Horse marks the 60th anniversary of the world’s first VLCC, Idemitsu Maru, and has sparked a surge in supertanker charter rates, with spot prices topping $200,000 per day and rumors of a one‑year deal...
CMB.TECH Seals Five-Year Capesize Charters
Belgian shipowner CMB.TECH has secured five five‑year charters for its capesize bulkers, adding $304 million in revenue and lifting its contract backlog to roughly $3.05 billion. The deals, which start in the coming months, include vessels built between 2014 and 2018 and...
Eldorado Outbids Saipem in Drillship Sale
Norwegian rig owner Deep Value Driller sold its seventh‑generation drillship Deep Value Driller to Eldorado Drilling for $300 million, outbidding a previously announced $272.5 million deal with Saipem. Eldorado’s unsolicited offer was $27.5 million higher, prompting the board to switch buyers. The transaction...
Eidesvik Wins PSV Extension From Aker BP
Eidesvik Offshore has secured an additional contract extension from Aker BP for its 2012-built platform supply vessel Viking Prince. The extension adds roughly two months to the vessel’s hire, pushing the end‑date to the end of April 2026. This follows...
Marinakis Spins Out Tanker Arm for $345m Oslo Raise
Greece’s Capital Tankers Corp is preparing an Oslo listing to raise up to $345 million, backed by a sizable crude tanker orderbook. The share sale targets roughly $300 million, with an additional $45 million over‑allotment, pricing shares at NOK 134 and valuing the firm...
Orkim Secures MR2 Charter with Petronas Trading Unit
Malaysian tanker owner Orkim has signed a six‑month time‑charter for its 2012‑built Orkim Citrine MR2 tanker with PETCO Trading Labuan, the trading arm of Petronas. The agreement, effective at the end of February 2026, includes an option to extend another six...
Celsius Seals Samsung Heavy LNG Carrier Order
Celsius Tankers, a subsidiary of Denmark’s Celsius Shipping, has placed an order for a 180,000‑cubic‑metre LNG carrier with South Korea’s Samsung Heavy Industries. The contract, valued at roughly KRW 368 billion ($255 million), lifts Celsius’s LNG fleet to 24 vessels. The new ship...
Geneva Dry Dialogues: European Energy Exchange
Geneva Dry 2026, the premier dry‑bulk shipping conference, is set for April 28‑29 in Lausanne with up to 900 delegates and 51 sponsors. European Energy Exchange (EEX) head Peter Blogg warned that geopolitical turbulence makes short‑term forecasts difficult, underscoring the...
15-Year-Old VLCC Values Jump 57% Year-on-Year as Sinokor Linked to Teekay Exit
Teekay Tankers sold its 15‑year‑old VLCC Singapore Spirit for $84.5 million, a deal widely linked to Korean buyer Sinokor. Recent disposals by CMB.TECH of similar‑aged vessels also point to Sinokor’s aggressive purchasing pattern, with the firm tied to over 40 VLCC...
Active Mercuria Energy Adds a Cape
Mercuria Energy Group has acquired the 182,100 dwt capesize vessel *Epic* for roughly $32 million, marking its fifth capesize purchase since September. The deal, sourced from Nereus Shipping, represents a step up from the earlier acquisition of the 174,810 dwt *Frontier Kotobuki*....
Splash Wrap: ZIM Sale Tops the Agenda
A $4.2 bn transaction will see Germany’s Hapag‑Lloyd acquire Israeli carrier ZIM, then spin off its Israeli operations into a new entity controlled by FIMI. The deal, which preserves 16 vessels for direct Israeli routes, triggered protests and a strike as...
Navios Lines up $134m Capesize Duo
Navios Maritime Partners announced two long‑term bareboat‑in contracts for Japanese‑built capesize vessels, with purchase options valued at roughly $134.3 million and an effective 6% interest rate. The ships, fitted with scrubbers, are slated to join the fleet in late 2028 and...
Costamare Locks in $940m with 12 Forward Charters
Costamare secured nearly $1 bn of fresh contracted revenue by forward‑chartering 12 containerships, generating about $940 m in incremental revenue. The deals lift fleet employment to 96% for 2026 and 92% for 2027, expanding the company’s contracted revenue backlog to roughly $3.4 bn...
DHT VLCC Clocks $90,000 a Day on One-Year Deal
DHT Holdings has secured a one‑year charter for its 2012‑built VLCC DHT Opal at $90,000 per day, starting this month. The rate underscores how tight the market has become for the world’s largest crude carriers, with Gulf‑China spot earnings now...
Landlocked Zimbabwe Flags Fraud to IMO After Tanker’s Bogus Registry Link
Zimbabwe, a landlocked nation without a maritime authority, has reported a false flag registration for the aframax tanker Range Vale to the International Maritime Organization. The vessel, built in 2005, has cycled through bogus registries in Comoros, Zimbabwe and currently...
Shadow Fleet Watchdog Publishes Treasure Trove of Tanker Intel
TankerTrackers.com, a leading open‑source monitor of the maritime shadow fleet, released a massive free dataset covering 1,469 active black‑listed tankers. The platform disclosed daily oil volumes on the four biggest trade lanes, led by Iran‑to‑China at 1.64 million barrels per day,...
Almi Marine Back in Newbuild Arena with Ultramax Pair
Greek dry‑bulk carrier Almi Marine has re‑entered the new‑building market after a four‑year hiatus, signing a contract for two next‑generation 64,000 dwt ultramax vessels with Nantong Cosco KHI Ship Engineering (NACKS). The ships, slated for delivery in the second quarter of...
Record Year for Seaborne Grains with Freight Boost Into 2026
Seaborne agricultural trade set a new high in 2025, moving 716.5 million tonnes – a modest 1% year‑on‑year gain that nonetheless broke the previous record. After a 6% slump in the first half, volumes rebounded 7% in the second half, lifting...
Cameroon Clamps Down on Shadow Fleet as Flag Purge Begins
Cameroon’s ship registry, now Africa’s third‑largest, surged 126% in the past year, largely due to Russian‑linked vessels adopting its flag. The fleet’s average age has risen to 32.7 years, prompting safety concerns after several high‑profile incidents. Under pressure from the EU...
Splash Wrap: The Week in Shipping in 233 Words
The Pentagon intercepted a tanker suspected of moving Venezuelan oil, underscoring Washington’s aggressive stance on illicit exports. Vanuatu warned users about a fake registry website, while Cameroon suspended new shadow‑fleet registrations and began deregistering existing vessels. In the tech arena,...
China Merchants to Restart Wuhan Qingshan Shipyard
China Merchants Shipbuilding Industry Group announced the full restart of its long‑dormant Wuhan Qingshan shipyard in 2026, reviving a facility that ceased new‑building in 2018. The 113‑hectare river‑front yard, equipped with a 2,200‑metre wharf, will focus on small and medium‑sized...
Maran Dry Returns to Newbuilds with Capesize Order at Hengli
Maran Dry, the bulk carrier arm of Angelicoussis Shipping, has placed an order for four new capesize vessels at Hengli Heavy Industry’s Dalian yard, with options that could expand the deal to six ships. This marks the company’s first new‑build...
Oceanbird Lands First Commercial Order
Oceanbird, the Alfa Laval–Wallenius joint venture, announced its first commercial sale, delivering two Wing 560 wing sails for retrofit in Europe slated for early 2027. The order fills the initial production slots, shifting Oceanbird from prototype demonstrations to a commercial rollout. The...
The Industry Blind Spot that Lets Crew Suffering Escalate
Shipping consultant Frank Coles warns that seafarers face systemic abuse hidden by the industry’s self‑regulation. Crew members endure long contracts, limited shore leave, and mental‑health strain while owners chase cheap labor across weak‑law jurisdictions. Regulatory bodies draft safety rules but...
CNOOC Targets 40% Offshore Wind Capacity Ramp up in 2026
China National Offshore Oil Corporation (CNOOC) announced a 40% increase in offshore wind capacity for 2026, targeting 3.5 GW of installed power. The expansion, executed with turbine maker Ming Yang Smart Energy, will roll out advanced turbines across southern provinces. Falling costs...
