Iran, Israel Trade Blame As Commercial Shipping Is Threatened By Conflict
Iran and Israel accused each other of endangering commercial activity in sea lanes around the Gulf and the Red Sea at the UN's shipping agency on Wednesday, as their military conflict escalated.Iran's delegation told a session of the International Maritime Organization's security committee that Israel had in recent days extended its "unlawful attacks" to include petrochemical and gas infrastructureā¦
Commercial Ships Advised to Keep Distance From Iran Around Strait of Hormuz
Commercial ships are sailing close to Oman and are being advised by maritime agencies to avoid Iran's waters around the Strait of Hormuz, with the risk of the conflict between Israel and Iran escalating, shipping sources said on Wednesday.Iran has in the past threatened to close the critical Strait of Hormuz to traffic in retaliation for Western pressure. Any closure of the strait could restrict trade and affect global oil prices.In the latest measureā¦
Mike Lynch's Sunken Yacht to Be Brought to the Surface In Recovery Efforts
Late British tech tycoon Mike Lynch's sunken superyacht will be recovered from the sea off the coast of northern Sicily this weekend, the company leading the salvage operation said on Wednesday.The 56-metre-long (184-foot) Bayesian was moored off the small port of Porticello, near Palermo, in August last year when it sank during a severe and sudden weather event, killing seven people, including Lynch and his teenage daughter Hannah.The recovery process has been made easier after the vessel's 72-
Statkraft to Cut Costs by $292m Amidst Global Uncertainty
Norwegian state-owned utility Statkraft said on Wednesday it would cut its annual costs by around 15% or 2.9 billion crowns ($292 million) by 2027, citing increased global uncertainty, higher expenses and lower power prices.The company already announced in May that it had stopped developing new green hydrogen projects due to higher costs and uncertain demand, after it scaled back its hydrogen ambitionā¦
Van Oord Christens World's Largest and Most Sustainable Offshore Wind Installation Vessel
Van Oord's new offshore wind installation vessel Boreas was officially christened on June 18 in Rotterdam. The event marked a milestone in Van Oordās commitment to enhancing the energy transition. In addition, Van Oord announced that it had become the first marine contractor to receive approval on science-based targets for its decarbonization approach. The Boreas was christened by Ms. Carola Schouten, the mayor of Rotterdam. Guests and Van Oord employees gathered to celebrate this moment.
Brine-Based Firefighting System In Operation On the Worldās Longest RoPAX Route
As EV-related fires continue to challenge the maritime industry, with incidents like the Morning Midas blaze in the North Pacific, operators are seeking more effective solutions. A new brine-based firefighting system, developed by Skansi Offshore in close cooperation with KNUD E. HANSEN, now offers a simple, robust and environmentally responsible answer.The system is operational aboard Norrøna, sailing the worldās longest RoPAX routeā¦
X-Press Feeders Group, COSCO SHIPPING Lines Partner to Enhance Feeder Connectivity
X-Press Feeders Group, the worldās largest independent common carrier, has signed two agreements with COSCO SHIPPING Lines, one of the worldās largest mainline operators, to expand network coverage, strengthen mainline-feeder coordination and improve service reliability.The agreements were signed by Francis Goh, Chief Operating Officer of X-Press Feeders Group and Irene Cheng Jin, Deputy Managing Director of COSCO SHIPPING Lines on June 18, 2025.
Maersk Ready for Ops with New Methanol-Fueled 17,480 TEU Container Ship
Danish shipping group A.P. Moller - Maersk has named the first vessel in a series of 17,480 TEU vessels equipped with dual-fuel methanol propulsion, which will operate under the name of Berlin Mærsk.The naming event took place on June 18, at Hyundai Heavy Industriesā (HHI) yard in Ulsan, South Korea.Berlin Mærsk is the 14th dual-fuel newbuild entering the Maersk fleet, and it will be followed by additionalā¦
DNV Issues AiP for SeaTech Solutionsā Ammonia Bunkering Vessel Design
Classification society DNV has awarded an Approval in Principle (AiP) to SeaTech Solutions for the design of a new 10,000cbm ammonia bunkering vessel, being developed in collaboration with Oceania Marine Energy.Measuring 130-metres, the ammonia bunkering vessel is specifically designed to deliver low-carbon ammonia to ammonia dual-fueled bulk carriers at the Port of Dampier, which emerging as a potentialā¦
Kongsberg Maritime to Supply Thrusters for Sanmar-Built Tugs
Kongsberg Maritime has secured a contract to supply 17 shipsets of its US range of azimuth thrusters to Türkiyeās Sanmar Shipyards for a range of international tug projects.The US azimuth thrusters will be supplied across a range of power outputs between 1765kW and 2525kW with a bollard pull ranging between 60 and 85 tons.Sanmar Shipyards is a long-standing customer of Kongsberg Maritime and specializesā¦
RAstar Tug Pair Delivered, Set Sail for Mexico
Cheoy Lee Shipyards recently delivered two RAstar 3200-CL tugs bound for Coatzacoalcos, Mexico. CMM Azteca and CMM Mexico will sail on their own bottom all the way from Hong Kong and begin operations in Mexico as part of Compania Maritima Mexicana SA DE CVās fleet (an affiliate company of Boluda Towage).These two tugs are the latest deliveries in the RAstar 3200-CL series, which Cheoy Lee has been building since 2013.
War Insurance Costs to Israel Soar
War risk insurance premiums for shipments to Israel are as much as three times higher than a week ago as the war between Israel and Iran entered its fifth day, industry sources said on Tuesday.The cost of a seven-day voyage to Israeli ports was quoted between 0.7% and 1.0% of the value of a ship, versus around 0.2% a week ago, they said.War risk premiums to Israel are still below a peak of over 2% in November 2023 that were quoted after a Hamas attack on Israel killed 1ā¦
Yinson Production, āKā LINE Target Europe's CCS with FSIU and LCO2 Solutions
Yinson Production and āK" Line Energy Shipping (UK) (KLES), a London-based subsidiary of Kawasaki Kisen Kaisha ("K" LINE), have entered into an agreement to jointly develop and market solutions for the transportation and injection of liquefied CO2.Under the memorandum of understanding (MoU), Yinson Production and KLES will jointly develop and market a floating storage and injection unit (FSIU) andā¦
With Sat Signal Jamming, Vessel Near Iran Appears to be in Rural Russia
The Front Tyne oil tanker was sailing through the Gulf between Iran and the United Arab Emirates on Sunday when just past 9:40 a.m. shiptracking data appeared to show the massive vessel in Russia, in fields better known for barley and sugar beets.By 4:15 p.m., the ship's erratic signals indicated it was in southern Iran near the town of Bidkhun, before later placing it back and forth across the Gulf.Mass interference since the start of the conflict between Israel and Iran has affected nearly 1ā¦
Okeanis Eco Tankers Takes $65M Loan to Refinance VLCC
Okeanis Eco Tankers (NYSE: ECO / OSE: OET) has secured a new $65 million term loan facility to finance the repurchase of its VLCC Nissos Kea under a previously announced sale-and-leaseback option. The new financing, led by E.SUN Commercial Bank, extends OETās strategy of strengthening its capital structure and diversifying its financing sources.The seven-year secured loan carries an interest rate ofā¦
Tanker Vessel Market Flashes Yellow as Middle East Burns
While global energy markets are not yet pricing in worst-case scenarios for the Israel-Iran war, oil tanker rates are providing a good real-time gauge of the escalating risks.Geopolitical risk has spiked following Israel's surprise bombardment of the Islamic Republic last Friday and Iran's retaliatory ballistic missile strikes, leading to a rally in global energy prices, with Brent crude rising 8%ā¦
Zvezda Axes $3.5B Icebreaker Order; Samsung Heavy Calls it "Illegal Termination"
South Korean shipbuilder Samsung Heavy Industries said on Wednesday that two orders from Russia's Zvezda worth a total of 4.85 trillion won ($3.54 billion) for icebreaker ships were cancelled due to "illegal termination by the shipowner".Samsung Heavy said in regulatory filings that in June 2024, Zvezda shipyard unilaterally informed the South Korean company of the contract termination and insisted on the return of advance payments.In July, Samsung filed an arbitration request with the Singapor
UAE Cites "Navigational Error" as Crash Cause Near Strait of Hormuz
The UAE's energy ministry said a collision between two oil tankers near the Strait of Hormuz was likely caused by a navigational misjudgement by one of the vessels.In a statement on Wednesday, it cited preliminary information and did not draw any link with an upsurge in electronic interference during the conflict between Iran and Israel.The Adalynn and Front Eagle oil tankers collided and caught fire on Tuesday 24 nautical miles off the coast of the UAE in the Sea of Oman.
Iran Must Take Control of the Strait of Hormuz, says Former Iranian Minister
Former Iranian Economy Minister Ehsan Khandouzi has said that tankers and LNG cargoes should only transit the Strait of Hormuz with Iranian permission and this policy should be carried out from "tomorrow [Wednesday] for a hundred days."It was not immediately clear whether Khandouzi was echoing a plan under theIranian establishment's consideration or sharing his personal opinion.Tehran has long used the threat of blocking the narrow waterway as a means to ward off Western pressureā¦
Subsea7 Nets āSubstantialā Contract off Norway
Subsea 7 today has secured a āsubstantialā contract offshore Norway, worth between $150 million and $300 million.Subsea7ās scope includes engineering, procurement, construction and installation (EPCI) of pipeline bundles, spools, protection covers and tie-ins using key vessels from Subsea7ās fleet.Project management and engineering will begin immediately at Subsea7ās offices in Stavanger, Norway and Aberdeenā¦
