Grey Tanker Fleet Grows as Sanctions Reshape Oil Trade
Sanctioned tankers rise to 886, while the grey fleet reaches 1,140 ships.
Aframaxes dominate Russian oil; older VLCCs and Suezmaxes gain value.
Strong Russian and Iranian supply keeps grey fleet demand high.
Western sanctions...
US Senators Turn to South Korea and Japan to Revive Shipbuilding
Duckworth warns that US capacity has been shrinking since 2003.
Pentagon requests $47B as Trump pushes revival of shipyards.
China dominates with 53% of global shipbuilding output.
American lawmakers are heading to South Korea...
Ocean Power Technologies Urges New Jersey to Accelerate Marine Energy Support
Ocean Power Technologies (OPT) urged New Jersey lawmakers to expand support for marine energy, citing the state’s potential to be a national hub.
OPT showcased its proprietary PowerBuoy and WAM-V technologies, highlighting a...
Handy Tanker Volumes Slide as Fleet Ages and MR Competition Intensifies
Spot fixtures in the Baltic/Black Sea have collapsed, with YTD Handy volumes down ~5% compared with 2024.
The Mediterranean remains the key Handy market (>50% of spot activity) with volatile earnings, while UKC...
PG–Japan VLGC Rates Hit 16-Month High on Port and Canal Delays
PG–Japan VLGC freight assessed at $89.60/mt on Aug. 14, nearing 16-month highs.
Prolonged delays at Indian ports and Panama Canal congestion driving bullish sentiment.
Market participants expect rates could soon breach the $90/mt...
Bumi Armada and MISC Conclude Merger Talks Following MoU Expiry
Bumi Armada and MISC ended merger talks after their MoU expired on August 14, 2025.
The merger was initially intended to build a stronger floating production business through an all-share transaction.
Bumi Armada...
USDOT Announces $175 Million Investment Through Ferry Boat Program
USDOT is investing $175 million to expand and improve ferry services in 35 states, Puerto Rico, the U.S. Virgin Islands, and American Samoa.
Funding comes from the Federal Highway Administration’s Ferry Boat Program...
Global Terminal Operators: A Deep Dive into Throughput Trends
Based on the DynaLiners Millionaires report with 2024 estimates from Drewry, the top terminal operators managed a combined 380.54 million TEUs, representing 43% of the 876 million TEU global total. The data reveals a...
Yang Ming Posts US$153 Million Profit in Q2 2025 Despite Market Pressures
Yang Ming posted Q2 2025 revenue of US$1.21 billion and net profit of US$153.09 million.
First-half revenue reached US$2.4 billion, with profit totaling US$274.82 million.
Market conditions remain challenging due to trade uncertainties,...
Port Canaveral Fuels Future of Cruising with Star of the Seas’ First LNG Bunkering
Port Canaveral has marked a major milestone by hosting the first-ever liquefied natural gas (LNG) bunkering for Royal Caribbean International's newest and largest cruise ship, the Star of the Seas. The fueling operation, which...