Category: Tankers
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Eagle S trial exposes voyage data recorder blackout during Baltic rampage
Eagle S trial exposes voyage data recorder blackout during Baltic rampage The trial has kicked off in Helsinki for the captain and two officers of the Russian-linked oil tanker Eagle S, accused of dragging its anchor across the seabed and severing critical undersea cables between Finland and Estonia last Christmas. Finnish prosecutors say the Cook…
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South Africa tightens offshore ship-to-ship rules
South Africa tightens offshore ship-to-ship rules South Africa has introduced a new regulatory framework for offshore ship-to-ship (STS) transfers, sharply increasing penalties and setting strict environmental conditions in a bid to protect coastal ecosystems and the endangered African penguin. Under regulations signed by minister of forestry, fisheries and the environment, Dr Dion George, transgressors face…
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Carriers reroute fleets to sidestep US levy
Carriers reroute fleets to sidestep US levy Global shipping is realigning fleets in anticipation of October’s extra port fees to be levied by the US on China-linked tonnage. This is already being reflected in chartering decisions for transatlantic tanker and dry bulk fixtures with Chinese-built tonnage shifting to other parts of the globe. In the…
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MISC profit declines in Q2 2025 amid lower marine project revenue and contract expiries
MISC profit declines in Q2 2025 amid lower marine project revenue and contract expiries Gareth Havelock Go to baird maritime
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Hackers sew lips on Iran’s merchant fleet again
Hackers sew lips on Iran’s merchant fleet again For the second time in the space of five months, a hacker group is claiming it has knocked out communications on a swathe of the Iranian merchant fleet. The hacker group called Lab Dookhtegan, which translates as Sewn Lips, told London-based TV channel Iran International it had…
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Champion Tankers takes options on final two MR newbuilds in China
Champion Tankers takes options on final two MR newbuilds in China Norway’s Champion Tankers has wrapped up its latest round of fleet renewal, declaring options for the final two ships in a series of MR tankers ordered at Penglai Jinglu Shipyard in China. The Bergen-based private company, led by Karl Lodrup Kvalheim, will now take…
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HD KSOE to acquire Doosan subsidiary for KRW290b
HD KSOE to acquire Doosan subsidiary for KRW290b Alan Bosworth Go to baird maritime
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Malaysia’s Straits Energy to upgrade associate company’s shipyard facilities
Malaysia’s Straits Energy to upgrade associate company’s shipyard facilities Gareth Havelock Go to baird maritime
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Suezmaxes cash in on Kazakh export disruption
Suezmaxes cash in on Kazakh export disruption Suezmax spot rates are surging as Kazakhstan runs into mounting difficulties with its oil exports, tightening the tonnage list across the Mediterranean and beyond. Kazakhstan has suspended flows via the Baku–Tbilisi–Ceyhan (BTC) pipeline after chloride-contaminated crude entered the system in late July, diverting volumes to the Caspian Pipeline…
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Tanker hit in Russian drone strike on Izmail port
Tanker hit in Russian drone strike on Izmail port A Panama-flagged chemical/oil products tanker has reportedly been severely damaged in Russian drone strike at the port of Izmail, Ukraine. The 7,842 dwt Excellion was moored at the eastern pier of the Izmail Oil Transshipment Complex during the early hours of August 20 when a series…
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Performance Shipping tanker heads to Pakistan under year-long charter
Performance Shipping tanker heads to Pakistan under year-long charter Greece’s Performance Shipping has secured a fresh time charter for one of its tankers, agreeing a year-long fixture with Pakistan National Shipping Corporation (PNSC). The 105,304 dwt LR2/aframax P Aliki has been fixed at a daily rate of $30,000 for a firm period of 12 months,…
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One killed after vessels catch fire off Yeosu, South Korea
One killed after vessels catch fire off Yeosu, South Korea Gareth Havelock Go to baird maritime
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Urals and Mediterranean crude stable as traders eye Alaska summit
Urals and Mediterranean crude stable as traders eye Alaska summit Reuters Go to baird maritime
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Seaway oil pipeline resumes full service after leak, operator Enterprise says
Seaway oil pipeline resumes full service after leak, operator Enterprise says Reuters Go to baird maritime
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FACTBOX | Disruptions to Russia’s energy exports since start of Ukraine war
FACTBOX | Disruptions to Russia’s energy exports since start of Ukraine war Reuters Go to baird maritime
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Houthis seek to legitimise maritime role with ‘Safe Transit’ service
Houthis seek to legitimise maritime role with ‘Safe Transit’ service The Houthi-run Humanitarian Operations Coordination Center (HOCC) has released a new set of Frequently Asked Questions (FAQs) assuring safe passage to vessels transiting through the Gulf of Aden, Bab el Mandeb, the Arabian Sea and the Red Sea if they are not related to the…
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Eagle S officers charged over Baltic cable sabotage
Eagle S officers charged over Baltic cable sabotage Finnish prosecutors have charged the captain and two senior officers of the Eagle S tanker, part of Russia’s so-called shadow fleet, over the alleged destruction of critical undersea cables linking Finland and Estonia last December. The Cook Islands-flagged ship, which had sailed from Russia’s Ust-Luga with oil…
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Pyxis Tankers swings to loss in Q2 and H1 2025 on weaker charter rates
Pyxis Tankers swings to loss in Q2 and H1 2025 on weaker charter rates Alan Bosworth Go to baird maritime
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Panama mandates full traceability for offshore ship-to-ship oil transfers
Panama mandates full traceability for offshore ship-to-ship oil transfers Alan Bosworth Go to baird maritime
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Splash Wrap: Flags, fines and fakes
Splash Wrap: Flags, fines and fakes Sanctions, the shadow fleet, and the many ways authorities are trying to clamp down on this illicit trade kept Splash reporters busy all week, with clear evidence that the dark fleet is growing quicker than the West can contain. The grey fleet – as tracked by broker BRS –…
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Norway to demand insurance disclosure from foreign tankers
Norway to demand insurance disclosure from foreign tankers Norwegian authorities will require foreign-flagged tankers operating within the country’s economic zone to disclose their insurance arrangements starting August 11. The new rule, announced by Norway’s coastal administration, is part of a broader push to enhance maritime safety and environmental protection amid mounting concerns over the growing…
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Panama cracks down on STS transfers in bid to clean up fleet
Panama cracks down on STS transfers in bid to clean up fleet The Panama Ship Registry has become the first flag in the world to implement stricter controls and mandatory traceability for offshore ship-to-ship (STS) transfers of hydrocarbons. Non-compliance—depending on its severity—may lead to the cancellation of a vessel’s Panamanian registration. The regulation requires all…
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Grey fleet grows faster than enforcement can keep up
Grey fleet grows faster than enforcement can keep up The growth in the number of sanctioned ships has accelerated over the past year. Analysts at Kpler have been tracking the sanctioned fleet over the past five years. The count of vessels under sanction rose from about 370 in July 2020 to roughly 1,650 by July…
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Trump slaps India with new tariffs over Russian crude ties
Trump slaps India with new tariffs over Russian crude ties US president Donald Trump has signed an order imposing an additional 25% tariff on goods from India, in response to the country’s continued imports of Russian energy, the White House said on Wednesday, a move that could reshape the global tanker trades. The decision came…
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NYK’s Q2 2025 revenues drop due to tariff impacts
NYK’s Q2 2025 revenues drop due to tariff impacts Gareth Havelock Go to baird maritime
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International Seaways picks up modern VLCC as it sheds six ageing product tankers
International Seaways picks up modern VLCC as it sheds six ageing product tankers US tanker owner International Seaways has snapped up a modern VLCC while disposing ageing product carriers. The New York-listed firm said in its quarterly earnings report it had struck a deal to buy an unnamed 2020-built scrubber-fitted supertanker for $119m. The purchase,…
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Gujarat court arrests shadow aframax bound for the breakers
Gujarat court arrests shadow aframax bound for the breakers A shadow aframax tanker sold for scrap earlier this year has been arrested in India following a failed transaction and claims by the buyer that the vessel was sanctioned and misrepresented at the time of sale. The Gujarat High Court has ordered the arrest of the…
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Shadow tanker fleet still growing by 30 ships a month despite increased sanctions
Shadow tanker fleet still growing by 30 ships a month despite increased sanctions Despite a torrent of sanctions from the US, UK, and EU this year, the shadow tanker fleet continues to expand at pace, according to new figures from broker BRS. The so-called grey fleet (see BRS methodology for assessing what constitutes a grey…
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Panama will not register tankers and bulk carriers older than 15 years
Panama will not register tankers and bulk carriers older than 15 years In its most firm action to date to counter dark fleet registrations, the Panamanian Ship Registry, the world’s second-largest flag, will no longer accept tankers or bulk carriers aged more than 15 years old. “By prioritizing quality over quantity and implementing more rigorous…
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India to maintain Russian oil imports despite Trump threats, government sources say
India to maintain Russian oil imports despite Trump threats, government sources say Reuters Go to baird maritime
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US sanctions force vessels with Russian oil to divert from India, sources say
US sanctions force vessels with Russian oil to divert from India, sources say Reuters Go to baird maritime
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Chevron’s exports of Venezuelan oil expected to resume this month, CEO says
Chevron’s exports of Venezuelan oil expected to resume this month, CEO says Reuters Go to baird maritime
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Malaysia cracks down on illegal ship-to-ship transfers
Malaysia cracks down on illegal ship-to-ship transfers Malaysia has introduced new regulations to combat illegal ship-to-ship (STS) oil transfers in its territorial waters, a move that could disrupt operations of the so-called shadow tanker fleet moving sanctioned oil to China. Under the new rules, vessels caught conducting unauthorised STS operations will face immediate detention, with…
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Electricity blackouts are a blessing for shipping
Electricity blackouts are a blessing for shipping Pierre Aury provides readers with a history of electricity generation and why the push for renewables could still be a net positive for shipping. Shipping’s been carrying growing volumes of fossil fuels for a longer period of time than anticipated. That’s in no small part down to Tesla. No,…
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New Aframax tanker delivered to Performance Shipping
New Aframax tanker delivered to Performance Shipping Jens Karsten Go to baird maritime
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D’Amico Shipping reports “robust” results amid Q2 and H1 revenue drops
D’Amico Shipping reports “robust” results amid Q2 and H1 revenue drops Gareth Havelock Go to baird maritime
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Pakistan to get first US oil shipment as Cnergyico seals import deal
Pakistan to get first US oil shipment as Cnergyico seals import deal Reuters Go to baird maritime
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US Treasury unleashes largest Iran shipping sanctions since 2018
US Treasury unleashes largest Iran shipping sanctions since 2018 In its most expansive sanctions package against Iran in nearly seven years, the US Treasury has imposed sweeping measures on over 100 individuals, companies, and vessels linked to Iranian maritime and sanctions-evasion network. The action, unveiled Wednesday, is aimed at dismantling what the US calls a…
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COSCO rolls out 14‑vessel shipbuilding push at domestic yards
COSCO rolls out 14‑vessel shipbuilding push at domestic yards COSCO Shipping has launched a fresh newbuilding push which will see 14 ships constructed at domestic yards. COSCO Shipping Development, the financing arm of China’s state-controlled shipping giant, has commissioned a newbuilding package, including 10 newcastlemax bulk carriers and four asphalt carriers. Four 210,000 dwt newbuilds…
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Shell-led LNG Canada faces problems as it ramps up production, sources say
Shell-led LNG Canada faces problems as it ramps up production, sources say Reuters Go to baird maritime
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OPINION | EU’s $250 billion-per-year spending on US energy is unrealistic
OPINION | EU’s $250 billion-per-year spending on US energy is unrealistic Reuters Go to baird maritime
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Union Maritime locks in $130m financing for wind‑assisted RL2 newbuilds
Union Maritime locks in $130m financing for wind‑assisted RL2 newbuilds Diversified UK shipowner Union Maritime has closed a $130m delivery financing package for two next‑generation LR2 tankers. The deal was led by Société Générale and the Export–Import Bank of China and arranged through a syndicated facility. The vessels are scheduled for delivery from Yangzijiang Shipbuilding…
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South Korea in push for US trade deal to offer package including shipbuilding tie-up
South Korea in push for US trade deal to offer package including shipbuilding tie-up Reuters Go to baird maritime
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Caribbean seeks stronger Africa trade as traditional routes waver
Caribbean seeks stronger Africa trade as traditional routes waver Reuters Go to baird maritime
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Houthis threaten all ships linked to Israeli trade in escalated maritime campaign
Houthis threaten all ships linked to Israeli trade in escalated maritime campaign Yemen’s Houthi rebels on Sunday declared an escalation in their maritime campaign, announcing they will now target any ships belonging to companies that do business with Israeli ports, regardless of flag, ownership, or destination. The warning, delivered in a televised statement by the…
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Terntank returns to Econowind for wind-assisted propulsion on two more ships
Terntank returns to Econowind for wind-assisted propulsion on two more ships Following ‘strong performance results’ from the first installations, Swedish shipping company Terntank has decided to equip two additional methanol-ready hybrid tankers with wind-assisted propulsion systems from Dutch specialist Econowind. The post Terntank returns to Econowind for wind-assisted propulsion on two more ships appeared first on…
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Russia temporarily halts Black Sea oil loadings amid sweeping port security crackdown
Russia temporarily halts Black Sea oil loadings amid sweeping port security crackdown Reuters reported yesterday that Russia has imposed a sudden halt on foreign oil tanker loadings at its key Black Sea export hubs, citing a new port security decree that requires Federal Security Service (FSB) clearance for all foreign vessels — a move poised…
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Vessel collision leads to oil spill in Germany’s Cuxhaven Port
Vessel collision leads to oil spill in Germany’s Cuxhaven Port Gareth Havelock Go to baird maritime
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MOL launches global shipmanagement arm
MOL launches global shipmanagement arm Japan’s Mitsui OSK Lines (MOL) is consolidating its shipmanagement businesses under a single brand and location, aiming to streamline operations and enhance service quality across all vessel types. The Tokyo-headquartered shipping giant has renamed its Singapore-based LNG management arm, MOL LNG Ship Management, to MOL Global Ship Management (MOLGSM). The…
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Putin orders FSB to vet all foreign ships entering Russian ports
Putin orders FSB to vet all foreign ships entering Russian ports Russia has tightened access to its seaports, with president Vladimir Putin signing a decree on Monday mandating that all vessels arriving from foreign ports must now obtain prior approval from the country’s Federal Security Service (FSB). The executive order, which takes effect immediately, marks…
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Tankers International adds Lila Global VLCC to pool
Tankers International adds Lila Global VLCC to pool VLCC pooling platform Tankers International has brought in a new partner, adding Lila Global and its recently acquired VLCC to its fleet. The addition of the 313,798 dwt Lila Kochi lifts the Tankers International VLCC pool to 29 vessels. Dubai-based Lila Global, which has been expanding its…
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Eastern Pacific signs for suezmaxes at Hengli Heavy
Eastern Pacific signs for suezmaxes at Hengli Heavy Eastern Pacific Shipping has signed a deal with China’s Hengli Heavy Industry for up to four suezmax tankers. The Singapore-based owner, controlled by Idan Ofer, has committed to two firm 158,000 dwt crude carriers, with options for two more. The price tag for all four ships is…
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Despite new EU sanctions, Greek fleet will keep moving permitted Russian oil
Despite new EU sanctions, Greek fleet will keep moving permitted Russian oil Reuters Go to baird maritime
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Moscow orders ship hull sweeps after surge in mystery blasts
Moscow orders ship hull sweeps after surge in mystery blasts Russia’s state-run port operator FSUE Rosmorport has announced a RUB 3.16 billion ($39.5m) tender to inspect the underwater sections of vessels at key Baltic Sea ports amid mounting concerns over maritime sabotage. The sweeping safety initiative follows a string of mysterious explosions on merchant ships,…
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Ship registry and 105 vessels among entities listed in EU’s latest Russian sanctions
Ship registry and 105 vessels among entities listed in EU’s latest Russian sanctions The European Union officially rolled out its 18th sanctions package today, overcoming opposition from Slovakia earlier in the week. The sanctions are aimed squarely at crippling Moscow’s revenue streams and tightening the noose on its shadow fleet of sanctioned tankers Under the…
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USTR threat hits Chinese shipyards as global orders slump
USTR threat hits Chinese shipyards as global orders slump A contraction in Chinese shipbuilding orders has been registered in the first half of 2025, with Beijing’s once unassailable dominance increasingly under pressure from geopolitical tensions and a softening global market. According to new data from BIMCO, China’s share of newbuilding contracts dropped from 72% to…
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OPINION | Markets gamble on Trump bluffing on Russian oil sanctions in increasingly risky game
OPINION | Markets gamble on Trump bluffing on Russian oil sanctions in increasingly risky game Reuters Go to baird maritime
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Trump threatens secondary sanctions in 50-day ultimatum to Putin
Trump threatens secondary sanctions in 50-day ultimatum to Putin US president Donald Trump on Monday announced a sweeping threat to impose secondary sanctions on nations importing Russian exports — a move that could shake up global energy markets and disrupt tanker trades from the Black Sea to the Indian Ocean. Sitting beside NATO secretary-general Mark…
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Conventional fuel sea trials completed for new Chinese-built VLCC
Conventional fuel sea trials completed for new Chinese-built VLCC Jens Karsten Go to baird maritime
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EU envoys near agreement on lower Russian oil price cap
EU envoys near agreement on lower Russian oil price cap Reuters Go to baird maritime
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Advantage Tankers bolsters VLCC orderbook
Advantage Tankers bolsters VLCC orderbook Geneva-based Advantage Tankers has returned to South Korea’s Hanwha Ocean with a fresh order for another VLCC newbuilding as part of a growing strategic push into the larger tanker segment. Industry sources report that the Tugrul Tokgoz-led company has declared an option for a third 320,000 dwt unit at the…
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Hafnia seals $715m credit line backed by 32 ships
Hafnia seals $715m credit line backed by 32 ships Product tanker giant Hafnia has secured a $715m revolving credit line, secured by a fleet of 32 modern vessels and supported by a diverse syndicate of 11 leading international banks. The seven-year facility, which features a highly competitive margin and a 20-year age-adjusted amortisation structure, provides…
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Venezuela’s PDVSA rakes in $17.5 billion from foreign oil sales in 2024
Venezuela’s PDVSA rakes in $17.5 billion from foreign oil sales in 2024 Reuters Go to baird maritime
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European Commission proposes Russian oil price cap set 15 per cent below global benchmark
European Commission proposes Russian oil price cap set 15 per cent below global benchmark Reuters Go to baird maritime
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Red Sea traffic falls as Houthis vow to continue attacks
Red Sea traffic falls as Houthis vow to continue attacks The Philippine Department of Migrant Workers (DMW) confirmed on Thursday that three more Filipino seafarers from the attacked and sunken vessel Eternity C have been rescued in the Red Sea, bringing the total number of rescued Filipinos to eight. Thirteen remain unaccounted for as search…
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Splash Wrap: Red Sea attacks lead coverage
Splash Wrap: Red Sea attacks lead coverage The global shipping industry has been rocked by two deadly attacks this week in the Red Sea, with Yemen’s Houthi rebels launching their first campaign against merchant shipping of the year, sinking two bulk carriers, killing at least three seafarers, wounding others, and reportedly kidnapping crew. A new…
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One in six ships flagged as potential Houthi targets
One in six ships flagged as potential Houthi targets The global shipping industry has been rocked by two deadly attacks this week in the Red Sea, with Yemen’s Houthi rebels launching their most violent maritime campaign since early 2024, killing at least three seafarers, wounding others, and reportedly kidnapping crew. The bulk carrier Eternity C,…
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Toro ships out LPG carrier to tanker spin-off Robin Energy
Toro ships out LPG carrier to tanker spin-off Robin Energy Nasdaq-listed owner Toro Corp is selling one of its LPG carriers in an $18m deal involving affiliated parties. The Petros Panagiotidis-led spinoff of Cyprus-based Castor Maritime is offloading the 2015-buit 5,000 cu m Dream Syrax to a subsidiary of Robin Energy, a Nasdaq-listed entity controlled…
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Panama Canal rebounds as container and LPG volumes rise
Panama Canal rebounds as container and LPG volumes rise While the Red Sea has roared back to the front pages of the shipping press this week, and the Black Sea remains blighted by war, one other chokepoint that has caused supply chain chaos in recent years has reported that it is operating at full capacity.…
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Hanwha Shipping bags third VLCC newbuild
Hanwha Shipping bags third VLCC newbuild Hanwha Shipping, the shipowning arm of South Korean builder Hanwha Ocean, has added another vessel to its growing in-house fleet, placing an order for an additional VLCC. The Okpo-based yard — formerly known as Daewoo Shipbuilding & Marine Engineering (DSME) — is scheduled to deliver the 300,000 dwt scrubber-fitted…
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Red Sea shipping crisis deteriorates rapidly as attacks intensify
Red Sea shipping crisis deteriorates rapidly as attacks intensify The security situation in the Red Sea has taken a sharp turn for the worse over the past 48 hours, with back-to-back attacks on merchant vessels and Israeli airstrikes targeting multiple Yemeni ports. Yesterday, the Liberian-flagged bulk carrier Eternity C, operated by Greek firm Cosmoship Management,…
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Tanker suffers onboard explosion off western India; all 21 crew rescued
Tanker suffers onboard explosion off western India; all 21 crew rescued Jens Karsten Go to baird maritime
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Emerging Greek owner Venergy steps into newbuild market with MRs in South Korea
Emerging Greek owner Venergy steps into newbuild market with MRs in South Korea Venergy Maritime, the Greece-based tanker newcomer led by Vyron Vasileiadis, has placed its first newbuilding order, contracting two MR product tankers at South Korea’s K Shipbuilding. The firm order for the 50,000 dwt pair is for delivery in the first quarter of…
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FSO catches fire while being dismantled in Turkey
FSO catches fire while being dismantled in Turkey Jens Karsten Go to baird maritime
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Maersk Tankers brings technical ops in-house as ammonia fleet takes shape
Maersk Tankers brings technical ops in-house as ammonia fleet takes shape Denmark’s Maersk Tankers is set to establish in-house technical management operations as it prepares to take delivery of very large ammonia carriers (VLACs) and seeks tighter alignment between technical expertise and commercial ambitions. The move marks a pivot from the company’s 2021 decision to…
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Stainless Tankers pledges shareholder return after third sale
Stainless Tankers pledges shareholder return after third sale Oslo-listed Stainless Tankers has inked a deal to sell its 2008-built J19 stainless steel chemical tanker Gwen for $16.16m, marking the latest step in the company’s ongoing fleet optimisation programme. The Norway-based owner, backed by UK shipping fund Tufton, said the vessel is scheduled to be delivered…
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Russian Urals oil shipped to India at smallest discount since 2022, traders report
Russian Urals oil shipped to India at smallest discount since 2022, traders report Reuters Go to baird maritime
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Limpet mine threat in the Mediterranean grows
Limpet mine threat in the Mediterranean grows A series of suspected limpet mine attacks and unexplained blasts targeting commercial tankers in the Mediterranean has reignited concern over the evolving nature of maritime threats. “These incidents – marked by stealth, ambiguity, and geopolitical undertones – signal a shift in the maritime risk landscape that demands a…
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Splash Wrap: Trump leads headlines in a calmer week for shipping
Splash Wrap: Trump leads headlines in a calmer week for shipping Compared to almost every other week of 2025, from a shipping news/geopolitical point of view this week has been comparatively calm. Nevertheless, the word Trump featured in more Splash headlines than any other word once again. The big news at the start of the…
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Keel laid for James Fisher’s newest chemical tanker
Keel laid for James Fisher’s newest chemical tanker Jens Karsten Go to baird maritime
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Singapore files charges over last year’s fatal tanker collision
Singapore files charges over last year’s fatal tanker collision The Maritime and Port Authority of Singapore (MPA) has filed formal charges stemming from the deadly 2024 collision involving the Singapore-flagged Hafnia Nile and the shadow tanker Ceres I, an incident that drew international attention for both its human toll and its implications for shadow fleet…
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Norden flips two more ships
Norden flips two more ships Denmark’s Norden has revealed new activity in the sale-and-purchase market with two transactions closed in the dry and wet segments, continuing a wave of disposals tied to its purchase-option strategy. The Copenhagen-listed company has offloaded one supramax bulk carrier and one MR tanker for an undisclosed sum. No further details…
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The week in shipping: Iran dominates the headlines
The week in shipping: Iran dominates the headlines Starting today, Splash will be bringing readers a weekly wrap to digest the important shipping news of the past few days. This complements Daily Splash, our free newsletter published Monday through Friday, as well as Splash Extra, our monthly digest. Conflict with Iran dominated the headlines in…
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Maritime Partners swoops for Centerline Logistics
Maritime Partners swoops for Centerline Logistics In a consolidation move within the US Jones Act market, Maritime Partners has inked a deal to acquire Centerline Logistics, one of the country’s top coastal tanker and marine services providers. The agreement will see an entity managed by Maritime Partners take over Centerline from its current backers, Macquarie…
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Teekay Tankers ships out its oldest LR2
Teekay Tankers ships out its oldest LR2 Teekay Tankers has continued to offload its ageing tonnage by selling its oldest LR2 unit. S&P sources show the New York-listed firm is shipping out the 2007 Hyundai Heavy Industries-built 105,200 dwt Limerick Spirit to unnamed Greek interests for around $27.8m. The Kenneth Hvid-led owner and operator has…
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Performance Shipping agrees refinancing deal with Greek bank
Performance Shipping agrees refinancing deal with Greek bank Nasdaq-listed Greek tanker owner and operator Performance Shipping has agreed to the refinancing of an existing outstanding loan of $29.75m with compatriot Alpha Bank. Proceeds from the facility will be used to fully refinance the existing debt maintained with Alpha Bank, secured by the 2013-built aframax P.…
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Commercial shipping traffic continues through Strait of Hormuz amid uncertainty following Israel-Iran hostilities
Commercial shipping traffic continues through Strait of Hormuz amid uncertainty following Israel-Iran hostilities Will Xavier Go to baird maritime
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Trump: China can buy Iranian oil, will hopefully buy US crude
Trump: China can buy Iranian oil, will hopefully buy US crude Reuters Go to baird maritime
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China’s Seacon Shipping welcomes new chemical tanker to fleet
China’s Seacon Shipping welcomes new chemical tanker to fleet Jens Karsten Go to baird maritime
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Equinor says Johan Castberg field in Barents Sea producing at full capacity
Equinor says Johan Castberg field in Barents Sea producing at full capacity Jens Karsten Go to baird maritime
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Famous VLCC sold for ninth time
Famous VLCC sold for ninth time The 300,000 dwt Alter Ego—a vessel with a storied past—has changed hands for the ninth time in its 19-year lifespan. Greek outfit Cavalli Marine, known for its preference for vintage tonnage, reportedly sold the Chinese-built tanker to Chinese buyers for around $42m, netting an estimated $3m profit, excluding any…
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US airstrikes on Iran spark memories of previous tanker wars
US airstrikes on Iran spark memories of previous tanker wars Shipping stock prices surged in Asia today on the back of the fast-escalating geopolitical crisis in the Middle East, with Iranian politicians threatening to shut down the Strait of Hormuz after US airstrikes on key nuclear sites. Iran’s parliament has voted to block the Strait…
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ClarkSea Index hits year-high ahead of American strikes on Iran
ClarkSea Index hits year-high ahead of American strikes on Iran The cross-sector ClarkSea Index, a weighted average of tanker, bulk carrier, containership and gas carrier earnings managed by Clarksons Research, hit a new high for 2025 on Friday, ahead of the decision by the US to strike Iran, something that will likely see the index,…
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Trump softens on Iran intervention amid maritime chaos in Gulf
Trump softens on Iran intervention amid maritime chaos in Gulf Oil prices dipped 2% in early trading today as Donald Trump appeared to step back from joining Israel’s attacks on Iran, while the waters in the Middle East remain busy, and dangerous thanks to vastly increased GPS spoofing in the region in the week since…
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Freight market reacts to soaring Middle East tensions
Freight market reacts to soaring Middle East tensions Tensions in the Middle East have reached a boiling point this week as senior US officials reportedly prepare for a potential military strike on Iran, a move that threatens to ignite a wider regional conflict. According to a Bloomberg report citing individuals familiar with the matter, the…
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Australia places sanctions on 60 Russian tankers
Australia places sanctions on 60 Russian tankers The government of Australia has imposed targeted sanctions on 60 vessels linked to Russia’s so-called shadow fleet used to circumvent restrictions on oil and gas exports. This move marks the first time Australia has imposed sanctions against the shadow fleet. The vessels within the fleet are operating using…
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Oil spill detected from Tuesday’s tanker collision in the Gulf of Oman
Oil spill detected from Tuesday’s tanker collision in the Gulf of Oman An oil spill is growing rapidly in the Gulf of Oman after Tuesday’s spectacular collision between a Frontline VLCC and a suezmax belonging to Russia’s shadow fleet. The accident occurred at 1:14 am Dubai time on Wednesday between two tankers, the 23-year-old Adalynn…
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Shell is being “very careful” with shipping in the Middle East, CEO says
Shell is being “very careful” with shipping in the Middle East, CEO says Reuters Go to baird maritime
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Union Maritime takes delivery of “wing sail” Aframax tanker
Union Maritime takes delivery of “wing sail” Aframax tanker Rafael Sanches Go to baird maritime
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Performance Shipping charters out LR1 newbuild to Mercuria
Performance Shipping charters out LR1 newbuild to Mercuria Nasdaq-listed Greek tanker owner and operator Performance Shipping has entered into a long-term time charter contract with Mercuria Energy Trading for a newbuilding LR1 tanker. Mercuria chartered the tanker for a firm period of four years, through early 2031, at a daily gross charter rate of $23,750.…