Ocean Freight

DOF has secured a one-year contract extension for its multipurpose supply vessel Skandi Darwin in Australia

ClassNK is now authorized to conduct statutory surveys and issue certificates for French-flagged vessels on behalf of the French government

Russia has reportedly armed an LNG tanker in the Baltic Sea, escalating maritime tensions with NATO and raising security concerns

TGS has secured exclusive rights for a multi-client 3D seismic survey offshore Brunei from the Petroleum Authority

A University of Piraeus study reveals the EU ETS could boost bulker fuel costs by up to 33% as regulations tighten

HD KSOE has secured final performance verification and type approval for its high-pressure pump for LNG-fueled ships.

Enesel Group is expanding its dry bulk operations with eight new ultramax and capesize vessel orders from Chinese shipyards

SBM Offshore secured $465 million in project financing for the Chalchi FSO, destined for Woodside Energy's Trion project offshore Mexico

Dry bulk vessel transits through the Strait of Hormuz have recovered to pre-conflict levels, with 62 crossings on June 24th

Shell Global Solutions International has engaged Chiyoda Corporation for engineering and procurement on upcoming global projects

HMM has secured long-term bareboat charters with Mercuria for two new gas carriers, expanding its specialized fleet.

The maritime sector is increasingly adopting Artificial Intelligence for operational efficiency and predictive maintenance.

LNG and LPG shipping rates are declining across major routes due to softer global prices and reduced arbitrage opportunities.

Singapore expects higher low-sulfur marine fuel imports from Western markets in July, aiding regional stock recovery

Drewry's Intra-Asia Container Index dropped 4% to $1,074 per 40ft container, with rates easing on several key lanes

Oman suggests new fees for ships in the Strait of Hormuz, citing a departure from pre-conflict conditions

Wallenius Wilhelmsen extended its shipping contract with a major European auto manufacturer until 2031, valued at $420 million.

Norway's Enova stresses the need for hydrogen and ammonia fuel for long-distance shipping, as electric vessels face range limits

Korea Exim Bank signed an MOU to support US shipbuilding investment, aiming to boost cooperation and supply chain resilience

DCE iron ore futures showed a modest gain while port spot prices held steady amid moderate trading activity.

Nigeria's Dangote refinery has secured two crude oil cargoes from the UAE, diversifying its supply chain.

Global crude steel production in May 2026 experienced a minor 0.3% year-on-year decrease, reaching 157.9 million tonnes

US refining capacity is expected to decrease by 1.43% in 2025, driven by refinery conversions and closures.

Venezuela's oil production and refining facilities sustained no significant damage from two earthquakes on June 24.

The US dollar continues its bullish trend despite US-Iran tensions, with oil prices largely unaffected, indicating market optimism.

VARD has delivered a 151-meter hybrid construction and cable laying vessel to a Japanese client

Oil prices rose in Asian trade after a US-Iran flare-up, with future talks in Qatar now in focus

Royal T Shipyards has delivered the Heleen C, the second LABRAX 7680 multipurpose vessel, to Carisbrooke Shipping

SBM Offshore ordered its seventh Fast4Ward multi-purpose floater hull from Chinese shipbuilders to expand its FPSO fleet.

Middle Eastern producers are continuing oil and LNG loadings despite recent vessel attacks and military exchanges in the Strait of Hormuz