Greek Owner SteelShips Doubles Product Tanker Orderbook in South Korea
Greek shipowner SteelShips, led by Nicholas Notias, has doubled its product tanker orderbook by securing two additional 50,000‑dwt MR clean carriers from South Korea’s K Shipbuilding. The new contracts target delivery in 2028, adding to earlier orders for similar vessels. This move expands SteelShips’ presence in the Asian new‑build market and reinforces its strategy to modernize its fleet with environmentally compliant tankers. The orderbook now reflects a significant increase in clean‑fuel capacity for the company.
Fatigue the Hidden Factor in Shipping Casualties, Warn Researchers
New research from the Sustainable Shipping Initiative highlights seafarer fatigue as a largely hidden driver of maritime accidents. While human error accounts for most claims, existing reporting systems fail to capture the impact of long shifts and chronic sleep loss....
Wavelength Podcast: Not Shooting Strait, Confusion in the Gulf
The latest Wavelength podcast examines the escalating standoff in the Gulf, where U.S. and Iranian blockades persist and recent vessel attacks have sparked renewed cease‑fire negotiations. It also highlights the Trump administration’s push for a national shipbuilding programme anchored on...
Engine Room Fire Risk Growing with Ageing Fleet, Says Insurer Group
A new Cefor study finds engine‑room fire incidents are rising as the global merchant fleet ages, with vessels older than 15 years accounting for the majority of cases. Passenger ships are identified as the most vulnerable segment. Insurers have described...
Scorpio Tankers Stacks More Cash in Upsized $200m Bond Sale
Scorpio Tankers, the NYSE‑listed product carrier, completed a private placement of convertible notes, upsizing the deal to $200 million. The notes, due in 2031, were priced and issued within hours, reflecting strong investor appetite. Proceeds will bolster the company’s liquidity and...
CMB.Tech Tanker Makes Rare Trip From Mexico to Boost Asian Fuel Supply
CMB.Tech’s 158,000‑dwt suezmax Orion sailed from Mexico to Singapore, marking the first Mexican fuel‑oil cargo to Asia in nine months. The vessel, built in 2024, arrived at the key bunkering hub as Asian inventories tighten. The shipment underscores a shift...
Maersk Would Use US-Backed Strait of Hormuz Convoy Again, Says CEO
Maersk CEO Vincent Clerc announced the Danish carrier will once again join the U.S. Navy‑backed “Project Freedom” convoy to transit the Strait of Hormuz if the operation is reinstated. The line had previously refused to sail the waterway over safety...
Reborn Chinese Shipyard Secures Debut Order From Domestic Start-Up
China’s revitalised shipbuilder Tianjin Haiyu has secured its first contract, delivering two 353,147‑cubic‑foot refrigerated vessels for domestic start‑up Chishan Group’s Shandong Fuerdon plant. The order, reported by Clarksons, marks the yard’s debut in commercial production after a recent restructuring. The...
LNG Sector Seeing Near-Term ‘Supply Disruption’ Not ‘Demand Destruction’, Excelerate Says
Excelerate Energy, a U.S. floating regasification specialist, says the Middle East conflict is creating a short‑term supply disruption rather than eroding LNG demand. CEO Steven Kobos noted that new LNG projects coming online will expand the need for import and...
Marinakis Gas Carrier Firm CCEC Speeds up Newbuild Deliveries in Market Boom
Capital Clean Energy Carriers (CCEC), owned by Evangelos Marinakis, announced it will accelerate the delivery of three of its nine LNG carriers. The firm arranged with Hyundai Samho Heavy Industries to receive the vessels ahead of schedule. This move aims...
Maersk Cools M&A Ambitions After Losing Zim Bidding War
Maersk's CEO Vincent Clerc said the company will not pursue large‑scale mergers and acquisitions in its ocean shipping unit after losing the bidding war for Israel's Zim. The group will focus on disciplined organic growth while remaining open to opportunistic...
Ifchor Galbraiths Sale-and-Purchase Director Joins Swiss Trader and Shipowner
Swiss trader and shipowner Montfort Group has appointed George Bolton, formerly the sale‑and‑purchase director at Ifchor Galbraiths, as head of maritime investments for its Montfort Maritime division. Bolton brings extensive experience in vessel acquisition, financing, and market analysis, positioning Montfort...
Five-Year-Old VLCC Prices Surge $9m Above Newbuilds as Depreciation Curve ‘Lost’
Signal Ocean reports that five‑year‑old ultra‑large crude carriers (VLCCs) are now trading about $9 million above the price of newbuilds, overturning the traditional depreciation curve. The data shows a tightening of age discounts as buyer interest shifts toward mid‑aged tankers. This...
DIS Expects Months of Tailwinds for Tankers if Strait of Hormuz Re-Opens
Italian tanker owner d’Amico International Shipping (DIS) says a rapid de‑escalation of the US‑Iran conflict and the reopening of the Strait of Hormuz will create months of tailwinds for its product tanker fleet. The CEO highlighted that the war has...
Dorian LPG Hikes Dividend as Chris Wiernicki Joins Board
Dorian LPG announced a $1 per share dividend, the highest in six quarters, totaling $42.8 million payable on 28 May. The payout reflects stronger earnings from its fleet of 27 very large gas carriers (VLGCs). The company also disclosed that Christopher Wiernicki,...
Clarksons Chair: Middle East Chaos Drives ‘Excellent’ Start to Year
Clarksons Plc reported an "excellent" start to 2026, attributing the performance to heightened shipping complexity caused by the Middle East war. Chair Laurence Hollingworth highlighted strong market fundamentals and a surge in demand for the broker's expertise up to May 6....
Sincere Navigation Dives Into the MR Tanker Sector with South Korean Vessel Buy
Sincere Navigation, a Taipei‑listed shipowner, has entered the medium‑range (MR) tanker market by purchasing a second‑hand vessel built by Hyundai Mipo in 2019. The company disclosed an exchange filing showing it paid $39.8 million for the 30,000‑dwt tanker. This acquisition expands Sincere’s...
OSG Chief Executive Says Jones Act Waivers Chip Away at Cabotage ‘Ecosystem’ with No Benefit to Consumers
OSG chief executive Sam Norton told a Houston forum that recent Jones Act waivers granted by President Donald Trump are eroding the U.S. cabotage ecosystem. He argued that foreign‑flagged shipowners are entering the domestic oil‑product market without adhering to the...
Why Seafarers Are Now the Frontline Against Marine Pollution
Eyesea, the nonprofit marine‑cleanup app originally focused on plastic mapping, has launched a new oil‑spill tracking feature for seafarers. The tool enables ship crews to report spills instantly, turning vessels into a distributed sensor network. Launched in 2020, Eyesea leverages...
Plenty of US Mariners to Go Around Even as Wholesale Changes Still Necessary, MARAD Chief Says
Maritime Administrator Stephen Carmel told shipowners at the TradeWinds Shipowners Forum that the United States has a sufficient pool of qualified mariners, dismissing concerns about crew shortages. He urged companies to submit US‑flag registration applications without delay. While emphasizing workforce...
Leonhardt & Blumberg Lands Rare Five-Year Charter with Spanish Operator Marguisa
Leonhardt & Blumberg has secured a five‑year time charter for the 3,646‑teu baby‑panamax container ship Hansa Asia, operated by Spanish carrier Marguisa. The agreement, effective from Q1 2027, reflects the growing scarcity of mid‑size tonnage and the willingness of charterers to...
Cargill Steps Back in as Sea Cargo Charter Names New Chair
Cargill’s global head of operations, James Lewis, has been appointed chair of the Sea Cargo Charter, succeeding Engebret Dahm of Klaveness Combination Carriers. Dahm will remain on the board as vice‑chair and treasurer. The charter, a coalition of major bulk‑cargo charterers,...
Rising Tide of Oil Exports From Venezuela Lifts Crude Tankers
Venezuelan oil exports surged to a seven‑year high in April, reaching 1.23 million barrels per day, a 14% increase from the previous month. The rise reflects a broader output rebound under acting President Delcy Rodriguez, who also heads the hydrocarbons ministry. Shipbrokers...
Alternative Fuel Confidence Returning to some Sectors, DNV Says
DNV reported that orders for new‑build vessels capable of burning alternative fuels dropped year‑on‑year in April, reflecting ongoing market uncertainty. Despite the decline, the classification society highlighted encouraging signs in several shipping segments, including new LNG and methanol contracts. DNV...
Fuel Giant Employs Pacific Carriers Tanker for Jones Act Waiver Voyage
A Singapore‑flagged Pacific Carriers tanker, the 49,900‑dwt Pelican Pacific, completed the 22nd Jones Act waiver voyage, moving gasoline blend stock from Houston to Long Beach. The waiver, issued by President Trump and extended through August 17, permits foreign‑built vessels to...
Hapag-Lloyd and MSC Get Creative in Bid to Resume Middle East Gulf Bookings
Hapag‑Lloyd has resumed Upper Gulf container bookings by routing shipments through third‑party feeder services that avoid the Strait of Hormuz. The carrier will operate via the Khor Fakkan terminal in the UAE, linking Gulf ports with Oman and Indian gateways. This...
Knutsen NYK Venture Working with Var Energi on New Project for CO2 Carriers
Knutsen Group and Japan’s NYK have created the joint venture Knutsen NYK Carbon Carriers (KNCC) to develop a dedicated fleet of CO₂ carriers. KNCC announced a cooperation with Norway’s Var Energi and Aker Solutions to design an integrated CO₂ transportation...
Diana Takes Genco Battle Directly to Shareholders with Tender Offer for Stock
Greek tanker owner Diana Shipping has launched a cash tender offer to acquire all remaining shares of rival Genco Shipping & Trading. The bid follows months of stalled talks with Genco’s board, which declined to discuss Diana’s all‑cash proposal or...
US Influence Fades as IMO Climate Talks Build Momentum
The International Maritime Organization’s latest climate negotiations have swung back toward the Net‑Zero Framework, signaling stronger global consensus on decarbonising shipping. Meanwhile, the United States’ sway in the talks appears to be diminishing, a shift analysts link to the Supreme...
Sanctioned Iranian Gas Carrier Probes US Strait of Hormuz Blockade
A U.S.-sanctioned Iranian LPG tanker, the 20,700‑cbm Nooh Gas built in 1993, attempted an eastbound passage through the Strait of Hormuz on May 4, 2026. Shipping data confirms the vessel entered the waterway despite a U.S. naval blockade aimed at enforcing sanctions against...
Charterer Louis Dreyfus Boosts Liquidity with €3.5bn Notes Programme
Louis Dreyfus Company (LDC) launched a €3.5 bn ($4.1 bn) medium‑term note programme to strengthen liquidity. The first €500 m tranche was sold with guidance from law firm Norton Rose Fulbright. The programme gives LDC access to diversified capital‑markets funding for its commodity‑trading operations....
Trump Announces Plan to Unblock Trapped Vessels in Middle East Gulf
President Donald Trump announced "Project Freedom," a U.S.-led effort to free thousands of seafarers and hundreds of vessels trapped in the Middle East Gulf. The operation is slated to begin Monday morning Gulf time, following a social‑media post by the...
Bulker Reverses Course in Strait of Hormuz After Attack From Small Craft
A northbound bulk carrier was attacked by multiple small craft, likely deployed by Iran’s navy, while transiting the Strait of Hormuz on 18 April. The assault occurred about 11 nautical miles east of Sirik at 1130 UTC, prompting the vessel’s master to...
Ukraine Steps up Tanker War Against Russia, Hitting Three More Ships
Ukraine announced that sea‑drone operations on May 3, 2026 struck three Russian‑registered tankers, intensifying its maritime sabotage campaign. Two vessels were hit at the Black Sea port of Novorossiysk and a third at the Baltic port of Primorsk. President Volodymyr Zelenskyy posted video...
Trump’s Economic Fury Strikes Again as US Sanctions Chinese Oil Terminal over Iran Imports
The U.S. State Department has imposed sanctions on a Chinese oil terminal and two Chinese ship‑management firms to tighten pressure on Iran’s oil exports. The action coincides with President Donald Trump’s public disappointment in Iran’s latest peace proposal and follows...
Shipping’s Decarbonisation Drive Back on Track, Says IMO
The International Maritime Organization (IMO) says its Net Zero Framework for shipping remains on schedule despite vocal opposition from the United States and major oil‑producing nations. After two weeks of intensive negotiations, senior officials confirmed the decarbonisation plan is still...
NextDecade Will Be Chartering More Ships, Company CEO Says
NextDecade announced it will increase its LNG carrier fleet to handle early output from its Rio Grande project. The company already secured three long‑term charters with Dynagas, with the first vessel delivered from HD Hyundai’s yard in May 2026. Train 1...
Wavelength Podcast: Tanker Market Insights as Gulf Conflict Continues and UAE Leaves Opec
The latest Wavelength podcast examines how the tentative Iran‑US/Israeli cease‑fire and ongoing blockades of the Strait of Hormuz are sustaining high tanker‑market rates. Angelica Kemene of Optima Shipping Services discusses the potential shift in crude flows if the United Arab...
Knutsen to Defend LNG and Shuttle Tanker Market Position as Charter Backlog Hits $15bn
Norwegian shipping conglomerate Knutsen Group reported its charter backlog has risen to $15 bn, underscoring strong demand in LNG and shuttle‑tanker markets. The firm has limited dividend payouts, opting to reinvest earnings into fleet expansion and liquidity to defend its market...
US Seeks to Take Ownership of Two Seized Iranian VLCCs
U.S. officials announced that the Department of Justice is pursuing forfeiture of two Iranian‑linked Very Large Crude Carriers seized in April. The vessels, the 281,500‑dwt Phonix built in 2001 and the 300,000‑dwt Tifani built in 2003, have unknown beneficial owners....
Mercuria Sues Baltic Exchange over ‘Distortion’ of Key Tanker Rate Benchmark in Middle East War
Swiss commodity trader Mercuria Energy Group has filed a lawsuit in London’s High Court against the Baltic Exchange, alleging that the exchange distorted its key tanker rate benchmark during the US‑Iran conflict. Mercuria claims the distorted assessment forced the firm...
Former John Fredriksen Trading Bosses Sue for over $1bn in Failed Fraud Case
Shipping magnate John Fredriksen is being sued for more than $1 billion by former Arcadia Energy chief executive Peter Bosworth and CFO Colin Hurley. The duo had earlier won a $335 million fraud judgment against Fredriksen in January 2025, which the High Court subsequently cleared of...
‘Not an Insurance Problem’: Hormuz Safety Fears Outweigh Cover
War risk insurance capacity remains available for vessels transiting the Strait of Hormuz, but insurers report premiums have risen sharply amid heightened geopolitical tension. At a Marine Insurance Asia panel in Singapore, industry leaders emphasized that financial cover alone cannot...
Jiangmen Nanyang Adds 15 Bulkers to Orderbook in Deals Worth $450m
Chinese shipbuilder Jiangmen Nanyang Ship Engineering (JNSE) has secured contracts for 15 new handysize bulk carriers, adding roughly $450 million in value to its orderbook. The vessels, each about 40,500 deadweight tonnes, are slated for delivery in 2029 and 2030. The...
Zim Shareholders Overwhelmingly Approve $4.2bn Takeover by Hapag-Lloyd
Zim’s shareholders voted overwhelmingly to approve Hapag‑Lloyd’s $4.2 billion takeover, clearing a major hurdle for the merger of the New York‑listed container line into the German carrier. The same filing shows investors rejected the proposed compensation plan for Zim’s executives and board...
China Merchants Port Profit Rises as Cash Flow Weakens
China Merchants Port posted a modest rise in first‑quarter profit, buoyed by higher cargo volumes and a slight uptick in investment income. However, operating cash flow slipped as the company increased capital spending and saw tighter working‑capital dynamics. The earnings...
Emerging CO2 Trade Gets Real with First Bimco Time Charterparty
Bimco has issued CO2TIME 2026, the industry’s first time‑charterparty specifically drafted for liquefied CO₂ (LCO₂) transport. The new form responds to the accelerating rollout of carbon capture, utilisation and storage (CCUS) projects that require reliable maritime logistics. By codifying freight terms,...
Tanker Market Finds Delicate Balance as Oil Prices Surge to Multi-Year Highs
Oil prices surged to a multi‑year high of $126 per barrel before easing below $115, driven by President Donald Trump’s warning of a prolonged Iranian port blockade. The price spike has kept tanker charter rates elevated, even as the market...
Edda Wind Closes Deal to Sell Off Fleet to Navigare and North Star
Edda Wind has sold its entire offshore wind vessel fleet to Navigare Capital Partners and North Star. The transaction covers ten vessels and new‑build ships, with all but one being commissioning service‑operation vessels. The acquisition expands North Star’s fleet to...
TotalEnergies CEO Says Middle East Energy Flows Will Take up to Three Months to Reset Post-Conflict
TotalEnergies chairman and CEO Patrick Pouyanne said oil and LNG flows from the Middle East will need two to three months to return to normal after the regional conflict ends. The delay stems from the time required to discharge vessels and...