Oil Jumps 3% on Renewed US-Iran Conflict
Oil prices surged more than 3% on Monday after renewed military strikes between the United States and Iran reignited concerns over energy shipments through the Strait of Hormuz.Brent crude futures LCOc1 were up $2.67, or 3.51%, to $78.68 at 0743 GMT, while U.S. West Texas Intermediate crude CLc1 was up $2.48, or 3.47%, to $73.89 a barrel."Shipping operators are adopting a cautious approach and inbound movements have slowed under heightening security concerns," ANZ analysts said.Fresh U.S.
Hormuz Traffic Falls to Five-Week Low as Tensions Escalate
The number of vessels transiting the Strait of Hormuz fell to multi-week lows on Sunday, shipping data showed, as renewed strikes between the U.S. and Iran and attacks on ships in the Middle East heightened safety concerns.Six vessels transited the strait on Sunday, ship-tracking data from Kpler showed, the lowest number in five weeks.Tankers that exited the strait included the Very Large Crude Carrier Humanity…
Prices for Iranian Oil Stranded at Sea Surge
Iranian oil supplies at sea are rising after Tehran ramped up exports during the interim peace deal with the United States, but sales have been slow as China's independent refiners have turned to cheaper crude from Iraq, the UAE and Qatar.The return of U.S. sanctions this week risks leaving Tehran with more cargoes searching for buyers just as shipments arrive in Asia.In recent weeks, independent Chinese refiners based in the eastern oil hub of Shandong…
13 Russian Vessels Struck By Ukraine in Azov Sea
Ukraine struck 13 Russian vessels in the Sea of Azov on Friday, including 10 tankers, its drone forces commander said, part of Kyiv's major campaign aimed at enforcing a fuel crisis on Moscow's troops.A dry cargo ship and a ferry were among the targets as well, Robert Brovdi said on the Telegram app. Kyiv's troops also struck five power substations in Russia-occupied Crimea overnight, he added.(Reuters)
Saipem, Subsea 7 Undergo EU Antitrust Investigation
Italian energy contractor Saipem's merger with Norwegian peer Subsea 7 is set to face a full-scale EU antitrust investigation because of competition concerns about the deal, people with direct knowledge of the matter said.The companies announced the deal in February last year to create a leading global player in offshore energy services, from drilling and engineering to laying subsea infrastructure for offshore oil and gas projects.
Summit at Sea Level to Accelerate Coastal Resilience in Louisiana
The Louisiana Coastal Protection and Restoration Authority (CPRA), the Louisiana Department of Transportation and Development (DOTD), and the U.S. Army Corps of Engineers (USACE) have agreed to a joint commitment to overhaul bureaucratic processes and accelerate coastal resilience efforts.The agreement follows the "Summit at Sea Level," hosted by CPRA and DOTD on Friday, June 26, 2026, in Baton Rouge.
USCG RFP for Homeland Security Vessel Closes Soon
The Coast Guard released a request for proposal (RFP) for design, production, testing and delivery of homeland security cutter-light (HSC-L) vessels. The Coast Guard plans to acquire seven HSC-Ls through an indefinite delivery/indefinite quantity contract.The RFP is available here. Proposals are due by July 14, 2026.The Coast Guard’s aging fleet of 65-foot light icebreaking tugs was commissioned into service between 1961-1967 and is well beyond its planned end of service life.
76 Vessels, 30 Years: Fincantieri Delivers for Carnival Corp, Cuts Steel on New Ship
Three decades after helping redefine the modern cruise industry together, Fincantieri and Carnival Corporation have launched the next chapter in their long-running partnership.At Fincantieri's Monfalcone shipyard, executives from both companies gathered to celebrate the 30th anniversary of their relationship while officially marking the first steel cut for Carnival Destiny, the first of three next-generation Ace-class cruise ships being built for Carnival Cruise Line.
Maritime Technologies Forum Publishes Guidelines for Methanol as Marine Fuel
The Maritime Technologies Forum (MTF) announced the publication of new guidelines to support companies in developing new Safety Management Systems (SMS) and strengthening existing SMS for ships using methanol as fuel. As the maritime industry accelerates its decarbonization efforts, low-carbon methanol has emerged as one of the most scalable alternative fuel options. Its liquid state under ambient conditions…
Berg Propulsion Secures Six-Vessel Equipment Order
Swedish marine propulsion technology company Berg Propulsion has secured a contract to supply propulsion packages for six 7,000-dwt multi-purpose dry cargo vessels being built by Jiangsu Dajin Heavy Industry in China for UK shipowner and operator Carisbrooke Shipping.The six vessels, designed by Dutch naval architecture firm Groot Ship Design, are scheduled for delivery between the third quarter of 2027 and the first quarter of 2029.Measuring 110 meters in length and 15.45 meters in breadth…
ADNOC L&S Orders Four LNG Carriers, Takes Delivery of VLAC Newbuild
ADNOC Logistics and Services (ADNOC L&S) has ordered four new liquefied natural gas (LNG) carriers from China’s Jiangnan Shipyard for about $900 million, expanding its LNG newbuild program to 18 vessels, while also taking delivery of the first of four very large ammonia carrier (VLAC) newbuilds.The four ships will each have a capacity of 175,000 cubic meters and are scheduled for delivery in 2029.
Fincantieri Partners with Croatian Shipyards for MRC Corvettes Program
Italian shipbuilder Fincantieri has signed two memoranda of understanding with Croatian shipbuilding companies Brodotrogir Cruise and Iskra Shipyard in support of its participation in Croatia’s naval acquisition program for two Multi Role Corvettes.The agreements provide a framework for exploring cooperation in the design, engineering and construction of naval vessels in support of Fincantieri’s proposal…
Kongsberg Maritime, KOTUG Pen Extended Tug Thruster Deal
Kongsberg Maritime has signed an extended thruster coverage agreement with KOTUG International to provide long-term propulsion service support for five newbuild azimuth stern drive tugs being deployed for offshore terminal operations in West Africa.The five vessels share a common configuration and will be treated as a single fleet under the agreement. Each tug is equipped with two Kongsberg Maritime…
PD Ports Names New CEO
UK port and logistics business PD Ports has appointed current chief operating officer (COO) Paul Foreman as chief executive officer (CEO), succeeding Frans Calje who will step down from the position.Foreman was appointed following a competitive recruitment process, and will take up the new position from September 1, while Calje is set to step down after almost 10 years as CEO and more than 18 years with the company.The leadership change comes as PD Ports plans to accelerate growth…
Marco Polo, Siemens Gamesa Ink Two-CSOV Framework Agreement
Singapore-listed marine logistics company Marco Polo Marine's offshore wind division, PKR Offshore, has signed a framework agreement with Siemens Gamesa for the deployment and charter of two commissioning service operation vessels (CSOVs) for offshore wind projects in Asia.Under the non-exclusive agreement, PKR Offshore will provide two upcoming CSOVs to support Siemens Gamesa across multiple offshore wind projects in Taiwan.
LNG Tankers Resume Hormuz Crossings Amid Tensions
More liquefied natural gas tankers have resumed transiting the Strait of Hormuz in recent days, ship-tracking data showed, and 22 Japan-linked vessels have left the Gulf since Tuesday, Tokyo said, despite renewed fighting in the Middle East.The Strait of Hormuz, a key route for global oil and LNG shipments, has been closely watched by shipping companies and governments following Iranian attacks this week on commercial vessels and U.S.
Stolt-Nielsen Limited Shares Q2, H1 2026 Results
Stolt-Nielsen Limited reported unaudited results for the second quarter ending May 31, 2026. The company reported a second-quarter net profit of $51.7 million with revenue of $750.3 million, compared with a net profit of $75.2 million with revenue of $712.9 million in the second quarter of 2025. The net profit for the first half of 2026 was $99.2 million with revenue of $1,467.1 million, compared with a net profit of $226.6 million with revenue of $1…
UAV Navigation-Grupo Oesía Releases New Version of VECTOR Autopilot Software
UAV Navigation-Grupo Oesía, a Spanish company that specializes in guidance, navigation, and control solutions for unmanned vehicles, announced the release of software version 9.2, introducing enhanced interoperability, modularity, and multi-domain operational capabilities.Version 9.2 further strengthens coordinated multi-domain UxV operations, enabling interaction between aerial and maritime platforms.
Turkey, Iraq Extend Oil Pipeline Agreement
Turkey and Iraq are set to sign, within days, a one-year agreement to keep open the crude oil pipeline between the two countries, Turkish Energy Minister Alparslan Bayraktar said on Thursday.Their decades-old pipeline agreement, which governs exports through the pipeline, is due to expire on July 27."We have brought the agreement that will cover the next 12 months to the final stage. We aim to sign it in the coming days…
Maersk Resumes Suez Canal Route From Middle East to US
Maersk, one of the world's biggest container shipping groups, said on Thursday it would resume its Middle East-to-U.S. East Coast service through the Suez Canal, as the Danish group takes another step toward restoring routes through the Red Sea.Most shipping companies abandoned the Asia-Europe trade corridor through the Suez Canal after attacks in the Red Sea by Yemen's Houthis, forcing vessels to take the much longer route around Africa's Cape of Good Hope.
