IMCA: Marine Contractors are Crucial for EU’s Energy Plans

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The marine contracting sector is essential to achieving Europe’s offshore wind and energy transition targets, contributing over €45 billion in annual GVA and...

IMO Addresses Safety Concerns Over Iran-Israel Maritime Dispute

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Iran accused Israel of targeting key energy infrastructure along the Persian Gulf, calling the strikes a threat to maritime safety and a violation...

APAC Set to Lead Global CO₂ Shipping Market, Report Finds

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APAC could require nearly 80 CO₂ carriers and over 90 storage sites by 2055 to support its CCUS ambitions. Japan and Korea are...

Tanker Rates Soar and Insurance Premiums Skyrocket as Persian Gulf Risks Intensify

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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

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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

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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

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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

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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

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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

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Risks to tankers are complex. Prices are firming, market anticipates risk. Vessels in area should prepare for loss of GPS. As the conflict between...
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