Shipping News

As the conflict in the Gulf widens, maritime insurance premiums for war coverage are surging -- in some cases by more than 1000% -- dramatically driving up the cost of moving energy through a critical maritime corridor.The conflagration sparked by Saturday's Israeli-U.S. air strikes against Tehran has paralyzed traffic through the Strait of Hormuz, a major shipping chokepoint. Iran on Monday said it would fire on any ship trying to pass, and at least nine vessels have suffered…

Qatar is offering at least two liquefied natural gas tankers that it controls for lease, as the country’s massive export facility in the Gulf remains shut due to the ongoing war in the Middle East, Bloomberg News reported on Friday.The Al Thumama and Mesaieed, both of which are under long-term charter by state-owned QatarEnergy, are being offered to the market, the report said citing traders with knowledge of the matter.Reuters could not immediately verify the report.(Reuters - Reporting by Devika Nair in Bengaluru; Editing by Jacqueline Wong)

Maersk, one of the world's biggest container shipping groups, said on Friday it has temporarily suspended two services linking the Middle East to Asia and Europe as the Iran conflict continues to disrupt global supply chains.The Danish group said in a statement it would halt its FM1 service connecting the Far East to the Middle East and its ME11 service linking the Middle East to Europe"This decision has been taken as a precautionary measure to ensure the safety of our personnel and vessels while minimizing operational disruption across our wider network," Maersk said in an advisory to custome

Around 50 French ships are currently blocked in the Persian Gulf and another eight in the Red Sea, France's Transport Minister Philippe Tabarot said on Friday, as Paris seeks support to build a coalition of countries to secure shipping traffic in the region."There are around fifty ships - 52 to be precise - in the Persian Gulf and eight in the Red Sea, and we are also in permanent contact with the crews, as there are French sailors aboard a number of these vessels," Tabarot told French broadcaster CNews/Europe 1.(Reuters - Reporting by Gianluca Lo Nostro; Editing by Makini Brice)

The U.S.–Iran war widened on Wednesday after a U.S. strike hit an Iranian warship off Sri Lanka, deepening a crisis that has paralysed shipping through the Strait of Hormuz for a fifth day and choked off vital Middle East oil and gas flows.The U.S. submarine strike on the Iranian vessel came as U.S. President Donald Trump pledged to provide insurance and navy escorts to ships exporting oil and gas from the Middle East in a bid to contain soaring energy prices.At least 200 ships…

Maritime companies face rising sanctions and compliance complexity as regulators increasingly expect risks to be detected before violations occur, according to a new report published by Marcura.The report “The Fragmentation Problem in Maritime Compliance” points to divergence between US, EU and other sanctions regimes. Secondary sanctions have expanded, and a growing shadow fleet continues to obscure ownership, insurance and trading histories. Together, these factors increase…

Euro zone government bonds edged higher on Wednesday as investors paused after a sharp selloff earlier this week driven by fears the Middle East war would fuel inflation.President Donald Trump had ordered the U.S. International Development Finance Corporation to provide political risk insurance and financial guarantees for maritime trade in the Gulf."A U.S. insurance for ships passing through the Strait of Hormuz could be a game changer, if successfully implemented," said Mohit Kumar…

Chinese shipping and logistics conglomerate COSCO Shipping's container liner unit said on Wednesday it had suspended all new bookings for routes to and from ports in the Middle East region, including those in the United Arab Emirates and Saudi Arabia.The move was due to escalating conflict in the region and traffic restrictions in the Strait of Hormuz, COSCO Shipping Lines said in a statement.Bookings for routes to and from Bahrain, Iraq and Kuwait have also been suspended, it added.The company said it was evaluating follow-up disposal plans, including possible alternative unloading ports, for

London's marine insurance market has widened the area in the Gulf it deems as high risk as the conflict in the Middle East escalates, according to an advisory issued on Tuesday.Guidance from the Joint War Committee, which comprises syndicate members from the Lloyd's Market Association and representatives from the London insurance company market, is watched closely and influences underwriters' considerations over insurance premiums.The JWC added waters around Bahrain, Djibouti…

Greece's shipping minister on Tuesday called for the protection of global shipping and seafarers, amid an "alarming" situation that has left dozens of ships stranded in the Strait of Hormuz and the wider area due to the widening Iran conflict.Traffic through the Strait of Hormuz ⁠was closed for a fourth day on Tuesday, choking off a key artery accounting for about 20% of global oil and gas supply. An Iranian Revolutionary Guards senior official said on Monday Iran would fire on any ship trying to pass through…

Supertanker costs in the Middle East have hit all-time highs, according to shipping data and industry sources on Tuesday, as the U.S.-Iran conflict intensifies with Tehran attacking ships passing through the Strait of Hormuz.Shipping through the Strait between Iran and Oman, which carries around one-fifth of oil consumed globally as well as large quantities of liquefied natural gas, has ground to a near halt after vessels in the area were hit as Iran retaliated against U.S. and…

Marine insurers are cancelling war risk coverage for vessels and oil shipping rates are set to surge further after the widening Iran conflict left at least three tankers damaged, a seafarer killed and 150 ships stranded around the Strait of Hormuz.Iran has responded to U.S. and Israeli strikes that began on Saturday with retaliatory attacks that have sharply increased risks to commercial shipping in the past 24 hours.In the Strait of Hormuz and surrounding waters, at least 150 vessels including oil and liquefied natural gas tankers had dropped anchor…

DP World has acquired a 5,000+ TEU container vessel, DP World Chennai, integrating it into its Red Sea Gulf–India service to strengthen trade links between India and the Middle East.The vessel has been deployed on the route with its maiden call at Jebel Ali, lifting DP Wordl Shipping Solutions’ owned capacity to over 6 million TEU and aimed at enhancing schedule reliability across key regional markets."The acquisition of DP World Chennai enhances our capability to offer consistent…

Applications are now open for the 2026 edition of the IG Shipping Course, a two-week, residential training program run by shipbroker IFCHOR Galbraiths. Now in its sixth decade, the IG Shipping Course has trained more than 1,000 professionals from across the maritime sector. The course is designed not only for new entrants to shipping, but also professionals transitioning from adjacent sectors such as finance, law and energy, and experienced maritime professionals seeking to broaden…

Marine insurer NorthStandard has entered a two-year partnership with behavior change specialist Signol to offer members discounted access to a crew-focused decarbonization service aimed at reducing fuel consumption and emissions.Under the agreement, Signol will cover onboarding costs and provide preferential rates on its monthly software-as-a-service subscription.NorthStandard said it recognizes the critical role of crews in ensuring safety on board and believes they play an equally…

Denmark's maritime authority said on Thursday it had detained and inspected an Iran-flagged container vessel anchored in the Nordic country's waters on the grounds that it was not properly registered.The ship, using the name "Nora" according to LSEG data, was initially sailing under a Comoros flag, but Comoros informed Denmark that the vessel was not found in its registry, the Danish authority told Reuters by email."The ship is detained until a flag state can demonstrate to the Danish maritime authority that it is registered and fully certified…

In its Q4 and full-year 2025 earnings release, the Monaco-based containership owner posted full-year 2025 adjusted net income from continuing operations of $375.6 million, or $3.12 per share. Net income from continuing operations available to common stockholders totaled $371.0 million, or $3.09 per share.For the fourth quarter, adjusted net income from continuing operations reached $71.8 million, or $0.60 per share, while net income from continuing operations available to common stockholders was $72.6 million…

Oslo-listed dry bulk operator Western Bulk reported a marked earnings recovery in the second half of 2025, capitalizing on a broad-based rebound in freight markets and tighter effective vessel supply.According to the company’s Second Half Year Report 2025, Western Bulk generated a net profit after tax of USD 7.4 million in 2H 2025, compared with a net loss of USD 5.2 million in the same period a year earlier. For the full year, the group posted a net profit of USD 5.4 million…

Exolum, Methanex Corporation and Ørsted announced the launch of the United Kingdom’s (U.K.) first commercially ready bio-methanol storage and supply service for shipping at the Port of Immingham. The Port of Immingham is the U.K.’s largest port by cargo volume and a critical gateway for energy and bulk materials, making it an important hub for maritime operations and low‑carbon fuel supply. The initiative will provide marine bunkering services for bio-methanol, one of the leading green fuels for decarbonizing shipping.

Lloyd’s Register (LR) Advisory has been appointed by Geneva-based LPG trader and shipowner Geogas to support the development of a multi-year emissions compliance plan and operationalization of FuelEU pooling, as it prepares for the first compliance cycle of FuelEU Maritime.Under the agreement, LR Advisory will provide insight into the commercial implications of current and forthcoming emissions regulations, alongside targeted knowledge transfer to build internal capability. The…

Russian oil tankers are increasingly listing Singapore as their official destination, signalling a shift in export flows from India to China and growing concerns over Western sanctions, traders said and LSEG shipping data shows.LSEG data shows tankers carrying about 1.4 million metric tons of Russian crude departed for Singapore in January, the highest monthly volume in recent years.Singapore doesn't import Russian oil amid sanction risks, but its nearby waters are sometimes used for ship-to-ship transfers…

The United States issued fresh guidance on Monday to commercial vessels transiting the Strait of Hormuz, a key shipping lane for Middle East oil supplies, as tensions simmered between Washington and Tehran over Iran’s nuclear program.Iran has in the past threatened to close down the Strait of Hormuz, a portion of which lies within its territorial waters, and has at times seized commercial ships and oil tankers moving through the area alleging smuggling.The U.S. Department of Transportation’s Maritime Administration…

U.S. military forces boarded a crude oil tanker in the Indian Ocean after pursuing it from the Caribbean, Defense Secretary Pete Hegseth said on Monday, accusing the vessel of breaching Washington's blockade on sanctioned vessels traveling to or from Venezuela."Overnight, U.S. military forces conducted a right-of-visit, maritime interdiction and boarding on the Aquila II without incident " Hegseth wrote in a post on X. "It ran, and we followed."After capturing Venezuelan President Nicolas Maduro in a military raid last month in Caracas, the U.S.