Wealth Holdings Expands Into Large Multipurpose Segment with Four Newbuildings
Wealth Holdings Shipping, a Singapore‑based bulker operator, is moving deeper into the multipurpose vessel (MPV) market by ordering up to four new ships. The company has signed a contract with Nantong Yahua Shipbuilding for two firm 62,000‑dwt vessels, with options for two additional builds. This follows Wealth Holdings' entry into the MPV segment earlier in 2026. The order signals a commitment to diversify its fleet beyond traditional bulk carriers.
Sanctioned but Approved: Sharma’s Dark Fleet Container Ships Get Ready for the Recycling Beach
Anil Sharma’s GMS secured a Trump‑administration licence to purchase four post‑panamax container ships that had been sanctioned by the U.S. Office of Foreign Assets Control. The vessels – Bigli, Timon, Yogi and Rantanplan – were built between 2005 and 2006...
The $60m Question: Why Oil Companies Keep Their VLCCs Waiting Outside Strait of Hormuz
Frontline’s CEO Lars Barstad notes that at least 55 very‑large crude carriers (VLCCs) are sitting in ballast east of the Suez Canal instead of sailing for spot cargoes. The vessels, chartered by major oil producers, are deliberately idling near the...
Private Equity Firm Invests $125m in Karpowerships’ Kinetics LNG
Karpowership‑controlled Kinetics LNG has secured a $125 million investment from private‑equity firm Actera Group. The capital is being provided through redeemable preference shares, a structure that adds flexibility to the company’s balance sheet. Kinetics LNG says the funding marks a milestone...
CLdN Shifts Shipping Operations to UK in ‘Natural Evolution’
European shortsea carrier CLdN announced the relocation of its shipping operations from Luxembourg to the United Kingdom, calling the move a "natural evolution." The company, which operates a fleet of 30 cargo ro‑ro vessels, has maintained freight links to the...
Iran Claims More than 90 Vessels Have Transited Strait of Hormuz in the Past Three Days
Iran’s Islamic Revolutionary Guard Corps announced that more than 90 vessels have passed through the Strait of Hormuz over the past three days, including 35 ships in the last 24 hours. The total count since Tuesday reaches 92 vessels, a...
EcoLog Hooks up with Kawasaki Heavy on Liquefied Hydrogen Transportation
Peter Livanos‑controlled EcoLog has entered a strategic alliance with Japan’s Kawasaki Heavy Industries to develop liquefied hydrogen (LH₂) maritime transport solutions, including vessels, terminals, and ship‑to‑shore interfaces. The partnership leverages Kawasaki’s expertise from building the world’s first LH₂ carrier and...
Angeliki Frangou Joins VLCC Bandwagon with up to Eight Newbuildings Lined Up
Angeliki Frangou, chief executive of Navios Maritime Partners, confirmed the Greek‑owned carrier will acquire up to eight VLCCs, expanding on a prior order of four scrubber‑fitted vessels worth $482 million slated for delivery in the second half of 2028. The newbuildings...
Peter Georgiopoulos Jumps Back Into VLCCs with up to 10 Newbuildings
Greek shipowner Peter Georgiopoulos, together with partner Leo Vrondissis, announced a new series of up to ten Very Large Crude Carriers (VLCCs). The vessels will be constructed at a shipyard that has never built a VLCC before, marking a bold...
Himalaya Shipping Books Profit After Strong Start to the Year for Capesizes
Himalaya Shipping reported its first‑quarter profit, driven by an unusually strong market for capesize and Newcastlemax vessels. The surge marked the best start to the year for these bulk‑carrier segments since 2010. Higher freight rates and robust demand for iron...
James Gundy Reflects on Braemar Career as He Returns Full-Time to His First Love
James Gundy, who has led shipbroker Braemar for five and a half years, announced his departure as group CEO effective 2 July. He will hand the role to chief financial officer Grant Foley, who assumes the CEO title on that date....
U-Ming Ultra-Positive on Dry Bulk as Supply Growth Exceeding Projected Demand
U‑Ming Marine Transport issued an ultra‑positive forecast for the 2026 dry‑bulk market in its Q1 results. The Taiwanese carrier highlighted that freight rates have broken the typical seasonal lull, driven by strong demand for capesize vessels. It attributes the rebound...
MOL Signs First Annual LNG Bunkering Contract with Seaspan Energy
Mitsui O.S.K. Lines (MOL) has inked its first annual LNG bunkering agreement with Canada’s Seaspan Energy, targeting the fuel supply for its car carrier fleet at the Port of Vancouver. The contract’s inaugural bunkering took place on March 1, 2026 when...
Greek Shipowner John Inglessis Orders Crude Tanker in Japan
Greek shipping firm JHI Steamship has placed an order for a new Aframax crude tanker with Japan’s Imabari Shipbuilding. The 115,000‑dwt vessel will be equipped with a scrubber system and is slated for delivery in 2028. The deal highlights the...
US Blockade of Iran Is Tighter than It Seems, Washington Think Tanks Finds
A Washington‑based think tank, the Jewish Institute for National Security of America (JINSA), updated its assessment of the U.S. maritime blockade on Iran, cutting the number of vessels that breached the restriction from 27 to 12. The revision follows deeper...
American Steel: How Kirby Became an $8bn Tank-Barge Titan
Kirby Corp's market capitalization surged past $8 bn as its shares hit record highs near $158 in April, positioning it among the largest independent tank‑barge operators in the United States. The rally reflects booming demand for inland fuel transport and the...
Ocean Yield Books Profitable Quarter After New Orders and Bond Sale
Ocean Yield reported a profitable first quarter, driven by reduced financial expenses despite a modest dip in revenue. The Oslo‑based vessel lessor, owned by private‑equity firm KKR, strengthened its balance sheet with a new bond issuance. It also placed additional...
Gulf of Oman VLCC Assessment in Spotlight as Hormuz Crisis Drags On
Tanker operators are increasingly referencing the Baltic Exchange’s Gulf of Oman‑to‑China VLCC assessment as the Strait of Hormuz remains blocked by the ongoing US‑Israel‑Iran conflict. While the assessment shows elevated rates, actual VLCC fixtures are scarce, making the figures largely...
Diana Shipping Cashes in Part of Its Stake in Takeover Target Genco
Diana Shipping has sold a modest portion of its Genco Shipping & Trading stake, estimated at 100,000‑150,000 shares out of the 6.4 million it previously owned. The Greek carrier did not disclose the exact number of shares sold, but the transaction...
US Losing Leverage in Iran War as Tanker Rates Slide
U.S. influence over Iran’s oil‑transit negotiations is waning as tanker freight rates in the Strait of Hormuz have dropped sharply. The decline erodes the economic pressure the United States has tried to exert on Tehran to reject a toll for...
Tankers International Snares Cido Shipping Newbuilding for Suezmax Pool
Cido Shipping has become the first new partner in Tankers International’s suezmax tanker pool, adding its 157,000‑dwt vessel Morning Star directly upon delivery. The ship, built by HD Hyundai Heavy Industries, is equipped with a scrubber system and is LNG‑ready,...
Global Maritime Forum: Shipping Firms Must Plan for when Women at Sea Have Children
The Global Maritime Forum (GMF) called on shipping firms to create formal policies that support pregnant women at sea, warning that lack of support drives talent loss. Its November report, “Pregnancy at Sea: From Hidden Risk to Retention Edge,” gathered...
Greek Owner Agrees Deal with US to Get Blocked VLCC Out of Hormuz
Greek owner of the 300,000‑dwt VLCC Agios Fanourios I announced that U.S. authorities have cleared the vessel to exit the Strait of Hormuz after a five‑day blockade. The ship, which was previously denied passage to Vietnam, resumed its eastward course in the...
New Columbia Leaders Land Management Deal with Chinese Lessor
Columbia Group's Singapore‑based subsidiary, Columbia Ship Management (CSM), has secured a technical management agreement for three aframax tankers under construction for Zhejiang Seaport Financial Leasing (ZSFL). The deal represents the manager’s first contract with the fast‑evolving Chinese lessor. The three...
Greek Owner Horizon Tankers Linked to Torm Resale Deal
Greek shipping company Horizon Tankers, owned by Anthony Comninos, is identified as the seller in Danish group Torm’s recent large‑scale resale transaction. European brokers disclosed that Horizon transferred two new‑build MR tankers built at Zhoushan Changhong International Shipyard to Torm...
UK Investment Firm Exits Teekay Tankers and CMB.Tech While Lifting Zim Stake
UK investment firm Sagil Capital exited its positions in Teekay Tankers and CMB.Tech during Q1 2026, fully divesting both holdings. The firm also trimmed its stake in Tsakos Energy Navigation, cutting its US‑listed shipping portfolio by roughly $37 million. Simultaneously, Sagil...
International Seaways Remains Top Shipping Pick for Giant US Investor Fidelity
Fidelity Investments increased its stake in International Seaways by 5.7%, bringing the holding to 4.94 million shares and making it the asset manager’s largest shipping position by share count. The move was disclosed in Fidelity’s quarterly report covering 20 listed shipping...
Xi-Trump Summit Heralds Tariff Easing Plan
The United States and China agreed at a summit in Beijing to set up new trade and investment councils, a move aimed at stabilising economic ties between the world’s two largest economies. Both sides also announced a reciprocal tariff‑reduction framework...
Dry Bulk Ship-to-Ship Transfers Becoming Routine, Says Intercargo Chief
Intercargo chairman John Xylas announced that dry bulk ship‑to‑ship (STS) transfers are shifting from a rare practice to a routine operation. The trend is driven by the emergence of large new mining projects in regions with developing port infrastructure. Earlier...
Genco Shipping in Fresh Rejection of Takeover Offer From Diana
Genco Shipping & Trading's board unanimously rejected Diana Shipping's $23.50‑per‑share takeover bid for the second time in two months. The offer, revived on May 4 as a direct tender to shareholders, mirrors the March proposal that was also turned down. Advising...
Panama Responds to ‘Unprecedented’ Number of Chinese Ship Detentions
Panama’s maritime regulator said Chinese authorities have detained an unprecedented number of Panama‑flagged vessels, prompting the Panama Maritime Authority (PMA) to tighten safety oversight. The PMA announced a suite of measures, including enhanced inspections and a commitment to improve communication...
Iran Escorts Flotilla of Chinese Ships Through Strait of Hormuz as Xi Meets Trump
Iran’s navy escorted a flotilla of Chinese tankers through the Strait of Hormuz on Wednesday night, coinciding with the high‑profile U.S.–China summit in Beijing. The move follows Tehran’s recent attack on a China‑linked vessel and the seizure of another, suggesting...
Okeanis Weighs up How VLCC Owners Can Tackle Gulf Gridlock
Greek tanker owner Okeanis Eco Tankers is weighing how its Very Large Crude Carrier (VLCC) fleet can stay active while remaining positioned to re‑enter the Middle East Gulf once the Strait of Hormuz reopens. CEO Aristidis Alafouzos outlined a balancing...
Easy Street or Road to Ruin? Shipping Financiers Weigh Whether It’s 2008 All over Again
Shipping financiers are warning that the sector may be heading toward a crisis reminiscent of 2008. A combination of excess vessel capacity, soaring debt levels, and heightened geopolitical risk is tightening credit and compressing freight margins. Lenders are tightening covenants...
Time to Rewrite the Rules of Shipping War Risk Insurance
Lloyd’s underwriters are weighing the creation of an independent panel to determine when geopolitical events constitute a war for marine‑insurance purposes. The move targets the ambiguous line between armed conflict, state‑backed cyber attacks, and ordinary disputes. Shipping policies currently contain...
Container Freight Rates to Middle East Get Boost From Strait of Hormuz Closure
Container freight rates to the Middle East are rising as the Strait of Hormuz closure forces boxships to reroute through alternative ports such as Khor Fakkan in the UAE, Jeddah in Saudi Arabia, and Salalah in Oman. The rate uplift benefits...
Tanker Market at ‘Optimal’ Disruption Level as Premiums May Not Keep up with Rates
Stock‑listed tanker owners are seeing share prices climb faster than the underlying vessels, prompting ABG Sundal Collier to question the sustainability of the rally. Analyst Petter Haugen estimates a 30‑40% premium on crude‑tanker owners, which pushes VLCC resale values to...
Chinese Energy Plans to Shake up Shipping, Warns Danish Ship Finance
China’s latest five‑year plan emphasizes energy self‑sufficiency and green logistics, signaling a structural shift in global trade patterns. The plan reinforces the Belt and Road Initiative and encourages new port investments, which could reroute bulk cargo away from traditional Europe‑Asia...
Greek Ship Embroiled in Brazil Cocaine Bust
Brazilian authorities recovered 340 kg of cocaine from the Liberian‑flagged bulk carrier Green K‑Max 1, a 80,900‑dwt vessel operated by a Greek company, while it was anchored at the Port of Santos. The ship was en route to Europe when divers uncovered...
Taiwan in Talks with Iran to Rescue Eight Container Ships Trapped in Middle East
Taiwan is negotiating with Iran to secure safe passage for eight Taiwanese‑flagged container vessels currently stranded in the Gulf region. The Ministry of Foreign Affairs has reached out to Iranian authorities, and the Maritime Port Bureau is monitoring the ships’...
Trafigura Revealed as Buyer of Hengli-Built VLCC Resale for Top-Dollar Price
Trafigura has agreed to purchase a 306,000‑dwt Very Large Crude Carrier (VLCC) currently under construction at China's Hengli Shipbuilding. The vessel, originally ordered by Greek‑owned Alimia Group, is slated for delivery in September 2026 and commands a top‑dollar price of...
Shipping Mourns Loss of Capital Markets Pioneer Michael Hudner at 79
Michael Hudner, a former real‑estate entrepreneur turned shipping magnate, died at 79 in Little Compton, Rhode Island. Over a five‑decade career he reshaped maritime finance, pioneering vessel securitisation and floating‑rate loan structures that became industry standards. He founded Hudner Capital, financing a...
India's SCI Launches Tender for Four Methanol Dual-Fuel Aframax Tanker Newbuilds
India's state‑run Shipping Corp of India (SCI) has issued a tender for four new Aframax‑size tankers equipped with methanol dual‑fuel engines, valued at roughly $300 million. The procurement mandates construction exclusively at Indian shipyards, underscoring a domestic‑first policy. These vessels will...
Turkish Recyclers Set to Cut up Former Salamis Lines Roro Vessel
Turkish recyclers have purchased the 25,500‑gt ro‑ro vessel Akritas, a 1982‑built ship that last sailed under Cyprus‑based Salamis Lines. The vessel was sold for dismantling at Aliağa, Turkey, though the transaction price remains undisclosed. Akritas is being retired as Salamis...
Buyer Snaps up Chinese Bulker for Bargain Price at Online Auction
A Chinese online auction on Zhejiang Shipping Exchange’s Shipbid platform sold the 18,100‑dwt handysize bulk carrier Jin Ming 66 for CNY 18 million (≈US$2.7 million). The winning bid was 67.9% lower than the vessel’s estimated market value. Built in 2008, the 17,300‑dwt‑class ship changed hands...
Pakistan Set to Welcome First Qatari LNG Shipment Since Early March
Pakistan is set to receive its first Qatari liquefied natural gas (LNG) shipment since early March, with the 216,200 cbm carrier Al Kharaitiyat slated to dock at the floating regasification unit at Port Qasim on May 11. The vessel, chartered by QatarEnergy, underscores...
IRGC Threatens 'Heavy Assault' On US Assets if Attacks on Iranian Tankers Go On
The Islamic Revolutionary Guard Corps (IRGC) warned the U.S. Navy that any further attacks on Iranian commercial vessels will provoke a heavy assault on American maritime and on‑shore assets in the Middle East. The threat follows a week in which...
US Bulker Hit as Tehran Vows to Take Revenge for Attacks on Iranian Tankers
Iran’s Islamic Revolutionary Guard Corps issued a stark warning to the U.S. Navy to cease attacks on its commercial vessels, threatening retaliation against American maritime and on‑shore assets. Hours later, a U.S.-owned bulk carrier was struck off the coast of...
‘Unsubstantiated Falsehoods’: Genco Responds to Diana Shipping’s Fight Letter
Genco Shipping & Trading rebutted a scathing “fight letter” from Diana Shipping, its 14.8% shareholder, accusing the rival of seeking a discounted takeover. Diana’s letter criticized Genco’s board independence and CEO John Wobensmith’s compensation, framing the bid as opportunistic. Genco...
US Hits Iranian Tankers as Gulf Enemies Try to Enforce Naval Blockades
U.S. Navy forces engaged two Iranian crude carriers in the Gulf of Oman on May 8, 2026, firing to prevent their return and to enforce a maritime blockade. The vessels – the 317,500‑dwt Sea Star III and the 159,700‑dwt Sevda – are under U.S....