Russia Bans Diesel Exports After Ukrainian Strikes Trigger Domestic Shortages
Russia introduced a ban on diesel exports on Wednesday as part of a raft of measures to support the domestic fuel market after systematic Ukrainian drone attacks on oil refineries triggered shortages and price spikes in some regions.Drivers in many regions are facing hours-long lines to refuel, as intensifying Ukrainian strikes on Russian energy infrastructure squeeze supplies of diesel and gasoline.Deputy Prime Minister Alexander Novak told a televised government meeting that the fuel situation
Oil Prices Rise Almost 5% As Trumps Warns of Additional Iran Attacks
Oil prices jumped nearly 5% on Wednesday, hitting a two-week high after U.S. President Donald Trump warned Iran that the United States will likely engage in additional strikes on Wednesday night after attacks the previous day, adding that they might take over Kharg Island as well.Brent crude futures were up $3.81, or 5.14%, to $77.97 a barrel at 1339 GMT, while U.S. West Texas Intermediate crude climbed $3.36, or 4.77%, to $73.80 a barrel.
Chevron Oil Tanker Hit by Drone in Russia-Ukraine Conflict
Chevron-chartered oil tanker Yasa Polaris, used for Caspian Pipeline Consortium shipments, was hit by a drone off Russia's Black Sea coast, the vessel's managing company said on Wednesday, as Kyiv steps up attacks on Russian energy targets.Ukrainian drones have attacked a dozen tankers from Russia's "shadow fleet" that were delivering fuel to Russian-annexed Crimea in recent days, according to the…
Qatari LNG Tanker Remains Stranded After Projectile Strike
A Qatari LNG tanker remained stranded off Oman on Wednesday after a projectile strike sparked a fire in its engine room, though industry sources said the vessel's cargo appeared secure and the risk of an explosion was low for now.The attacks on the tankers prompted Washington to revoke a licence allowing Iran to sell oil and U.S. forces to strike Iranian targets overnight. President Donald Trump said on Wednesday an interim agreement to end the war with Iran was "over"…
Jonathan Oak Appointed as Senior War Underwriter at NorthStandard
NorthStandard has appointed Jonathan Oak as Senior War Underwriter.Oak joins from the UK War Risks Club and brings experience in war risks underwriting, including advising shipowners operating in complex and rapidly evolving threat environments. He will report to James Sutton, Head of Hull & War at NorthStandard.NorthStandard’s Hull & War team combines technical underwriting with rapid decision-making and practical support for Members operating in higher-risk regions.
ECITB Global Launches New Suite of Safety Courses
ECITB Global has rolled out a suite of new courses designed to help workers operating in confined spaces within the engineering construction industry (ECI) across the world.The international skills body introduced the four new confined space courses in Qatar earlier this year to replace the confined space low and medium-risk courses.These now form part of the ECITB training courses mandated in the Middle East country by Ashghal…
From Fixtures to Values: Where the Jackup Recovery Is Already Being Priced
Premium jackup dayrates have improved from 2025 lows and are now holding within a higher range, but pricing remains uneven across fixtures and geographies. That is important, but dayrates are only the starting point. On their own, they say very little about how much of that recovery is already priced into company valuations.© EsgianEsgian rig values suggest that the market has already started to move.
Hill v. Jackson Offshore and the Delegation Clause
A Key Locking the Courthouse Doors Unless Precisely and Appropriately TargetedThe U.S. Court of Appeals for the Fifth Circuit’s May 2026 ruling in Hill v. Jackson Offshore1 makes it clear: broadly challenging an arbitration agreement won’t get you into court. If there’s a delegation clause, you must aim directly at it first and separately.What HappenedSeaman Jeremiah Hill was severely injured on an offshore supply vessel in April 2023.
Island Oil Expands Fleet with Two Tankers
Island Oil has acquired two oil tankers, Island Polaris and Island Horizon, expanding its owned fleet and marine logistics capacity.The acquisitions form part of the company's long-term investment strategy to strengthen logistics capabilities and support demand for marine fuel transportation across the Mediterranean and Black Sea.The two vessels are double-hull tankers and will increase Island Oil's…
NYK Names Eighth Dual-Fuel LPG Carrier
NYK has named newly built very large gas carrier (VLGC) Lyla Pathfinder, its eighth dual-fuel LPG carrier using liquefied petroleum gas as fuel.The naming ceremony took place on July 7 at Kawasaki Heavy Industries' Sakaide Works.Upon completion, the vessel will be chartered by UAE-based BGN for the global transportation of LPG.Lyla Pathfinder is equipped with a dual-fuel engine capable of operating on heavy fuel oil and LPG.
OMS Group Cuts First Steel for its Third Cable Laying Vessel
OMS Group has started construction of CS Resilience, the third vessel in its next-generation GREAT-Class fleet, with a first steel cutting ceremony held at CRIST's shipyard in Gdynia, Poland.The milestone marks the start of construction of the cable-laying vessel, which is scheduled to enter service in 2028 and forms part of OMS Group's long-term fleet expansion program.CS Resilience is one of two next-generation cable-laying vessels being built under OMS Group's partnership with Ulstein…
Change of Command Coming at USCG R&D Center
The U.S. Coast Guard Research and Development Center (RDC) will host a Change of Command on July 10, 2026, at the New London Community Recreation Center, New London, CT, where current RDC Commanding Officer Captain Michael Chien, will be relieved by Captain Phillip Granati. Captain Chien has held command since June 16th, 2023. He leaves to become the Senior Coast Advisor to the President of the Naval War College in Newport…
UK and Netherlands Forge $3.2B Maritime Partnership
Britain and the Netherlands have signed a maritime partnership setting the path for new amphibious transport ships for their forces under a $3.2 billion (£2.4 billion) deal, with the vessels set to be built in UK shipyards alongside Dutch industry.The ships will be based on a Dutch design and form the backbone of a strengthened UK-Netherlands amphibious force, with each country operating four vessels.The 160-metre…
Vessel Attacks Force Hormuz Tanker U-Turns
At least four oil and gas tankers have turned back from attempting to transit the Strait of Hormuz, ship-tracking data showed, as renewed attacks on vessels in the critical waterway heightened safety and security concerns.The diversions come after a Qatari liquefied natural gas tanker and a Saudi-flagged crude oil tanker were damaged near the strait on Tuesday following reports that Iran fired missiles at ships in the waterway…
Oil Surges 3% on Renewed US-Iran Strikes
Oil prices gained more than 3% on Wednesday after Iran and the U.S. military traded airstrikes and Washington reimposed crude sales sanctions on Tehran, raising fears their fragile truce was unravelling and Middle East supplies could be disrupted again.Brent crude futures LCOc1 gained $2.40, or 3.2%, at $76.56 a barrel at 0645 GMT. U.S. West Texas Intermediate crude CLc1 climbed $2.26, or 3.2%, to $72.70 a barrel.Both benchmarks rose about 3% on Tuesday after the U.S.
ACUA Ocean USV Collects 100 Hours of Continuous Multi-Domain Data
ACUA Ocean's Mk1 USV PIONEER has successfully completed a five-day remotely operated offshore demonstration, validating persistent, multi-domain maritime operations using an uncrewed surface vessel.On Monday 22 June 2026, PIONEER departed Turnchapel Wharf, Plymouth, and operated continuously 16–20 nautical miles offshore until Friday 26 June, completing more than 100 hours at sea without physical intervention.
DOF Group Wins Contract Award in APAC Region
DOF Group ASA announced a large contract award for Subsea Construction and Pre Commissioning Support services in the APAC Region.Skandi Inventor will be deployed for the execution of the offshore operations scheduled to commence in Q4 2026 in North Australian waters.The scope of work includes DOF’s in-house project management and engineering, procurement and logistics support services. The duration of the offshore campaign is estimated to be between 160 and 250 days.
TKMS Selected as Preferred Supplier for Canadian Patrol Submarine Project
TKMS welcomed the Government of Canada's decision to select Team 212CD as the Preferred Supplier for the Canadian Patrol Submarine Project (CPSP), delivering twelve 212CD submarines. The announcement marks a new chapter in defense cooperation between Canada, Germany, and Norway, bringing together expertise and common security interests.The Type 212CD submarine is designed and built for the Arctic,…
Seaspan Welcomes TKMS as Build Partner for Canadian Submarine Program
Seaspan Shipyards welcomed the Government of Canada’s announcement of ThyssenKrupp Marine Systems (TKMS) as the strategic build partner for the Canadian Patrol Submarine Project (CPSP). The project aligns with Canada’s Defence Industrial Strategy (DIS) and falls under the Build-Partner-Buy framework. In support of Canada’s DIS and partner strategy, Seaspan and TKMS signed a teaming agreement in support of CPSP in January.
Fincantieri to Build Third Hospitality Vessel for Marc-Henry Cruise
Fincantieri announced that it has signed a contract with Marc-Henry Cruise Holdings LTD, Joint Owner/Operator of Four Seasons Yachts, for the construction of a third hospitality vessel. The value of this agreement, subject to financing and other typical terms and conditions, is considered as large.Scheduled for delivery in 2031, the new vessel will be the third unit in a new class of hospitality vessels designed and built by Fincantieri at its Ancona shipyard.
