Tanker Rates Soar and Insurance Premiums Skyrocket as Persian Gulf Risks Intensify
Shipping companies have become significantly less keen to send their tankers to lift oil and chemical products from the Persian Gulf due to the...
As New Orders Halve, South Korean Expertise in LNG Provides Competitive Edge for Shipbuilders
The global shipbuilding industry is indeed facing a significant slowdown in new orders, with the January-May 2025 period seeing volumes fall to nearly half...
Strait of Hormuz Tensions Drive 60% Surge in Tanker Rates
Tanker rates for routes through the Strait of Hormuz have more than doubled since Israel began bombing Iran. This dramatic increase is attributed to...
Mixed Signals on Diplomacy: Iran-Israel Conflict Draws Russian Warnings and US Deliberations
Russia's deputy foreign minister has issued a stern warning against any potential U.S. attack on Iran, stating that such a move would "radically destabilize...
Steamship Mutual Offers Safety Guidance Amid Escalating Maritime Risks
In response to the recent surge in geopolitical uncertainty and heightened risks in maritime areas, Steamship Mutual, a leading Protection & Indemnity (P&I) insurance...
Ain Sokhna Port Solidifies Role as Egypt’s Strategic Hub for Trade, Energy, and Tourism
DP World Egypt's Ain Sokhna Port has achieved a remarkable week, underscoring its pivotal role as Egypt's gateway to global trade and economic security....
Hormuz on Hold: Vessels Await Green Light
Risks to tankers are complex.
Prices are firming, market anticipates risk.
Vessels in area should prepare for loss of GPS.
As the conflict between...
Port Houston Secures $214m for Channel Upgrades
$161 million awarded in the President’s FY 2026 budget to fully fund Project 11 of the Houston Ship Channel Expansion.
An additional $53.6 million allocated for maintenance...
KR and Shipbuilders Launch Green Fuel Safety Alliance
Korean Register forms powerful alliance with top shipbuilders and KTR to set global standards for ammonia effluent management.
The joint working group targets...
ABS Issues Approval for Korean Nuclear Power Module
ABS has issued Approval in Principle (AiP) to HD Hyundai Heavy Industries (HHI) and HD Korea Shipbuilding & Offshore Engineering (HD KSOE) for their...
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UK’s Propeller Fuels Plans To Extend Its Bunker Operations
Propeller Fuels plans to expand its operations after opening bunker supply operations to ports in Northern Ireland and the northern part of the...
