Frontline Appoints New Director
Frontline’s Ørjan Svanevik has resigned as Director of the company and has been replaced by Mikkel Storm Weum.Weum is employed as an Investment Director in Seatankers Management Norway AS, responsible for sale and purchase, newbuildings and projects. He is also serving as a director on the Board of NYSE listed Flex LNG Ltd and on the Board of NYSE listed Star Bulk Carriers Corp.Prior to being employed by Seatankers Management AS…
Seaspan Introduces New Remote-Controlled Vehicle
Seaspan has introduced Dockboy, its new remote-controlled, ultra-high pressure (UHP) cleaning tool.Dockboy provides high-efficiency hull cleaning that removes ocean build up like barnacles, anti-fouling paint, and coatings off in one go, leaving a consistently paint-ready surface.Dockboy will be a key tool for large ship maintenance projects at Vancouver Drydock and Victoria Shipyards. Fully containerized…
OPEC+ Responds to Hormuz Shutdown
OPEC+ has decided to increase its crude oil production target by 206,000 barrels per day (bpd) for April against a backdrop of heightened geopolitical risk as conflict in the Middle East escalated rapidly over the weekend.Oil markets will enter the new week facing a materially higher risk of supply disruption, as approximately 15 million bpd of crude oil transits the Strait of Hormuz, representing…
Industry Leaders Respond to Attacks on Seafarers
The Secretary-General of the IMO Arsenio Dominguez has issued a statement on the situation in the Strait of Hormuz:“I am deeply concerned by reports that several seafarers have been injured in attacks on merchant vessels. No attack on innocent seafarers or civilian shipping is ever justified. These crews are simply doing their jobs and must be protected from the effects of wider geopolitical tensions.“Freedom of navigation is a fundamental principle of international maritime law…
Vessels Diverted Around Cape of Good Hope
Shipping companies Maersk, Hapag-Lloyd and CMA CGM are rerouting vessels around Africa, away from the Suez Canal and the Bab el-Mandeb Strait, after U.S. and Israeli strikes on Iran and the closure of the Strait of Hormuz."Due to the deteriorating security situation in the Middle East region following the escalating military conflict, we have decided...to pause future Trans-Suez sailings through the Bab el-Mandeb Strait for the time being…
At Least Three Tankers Hit in Gulf
At least three tankers were damaged off the Gulf coast and one seafarer was killed as Iranian retaliation for U.S. and Israeli strikes on Iran exposed ships to collateral damage, shipping sources and officials said on Sunday.Risks to commercial shipping have surged in the past 24 hours, with more than 200 vessels including oil and liquefied gas tankers dropping anchor around the Strait of Hormuz and surrounding waters…
