krogragg

Category: Americas

  • US grants 30‑day waiver to let Russian crude already at sea be delivered to India

    US grants 30‑day waiver to let Russian crude already at sea be delivered to India The US Treasury has issued a narrowly targeted, 30‑day sanctions waiver allowing Indian refiners to accept Russian‑origin crude and petroleum cargoes already loaded aboard tankers by way of helping fill the gap left by the ongoing war between Iran and…

  • Radziwill’s CTM adds firepower with new investors

    Radziwill’s CTM adds firepower with new investors Bermuda-domiciled dry bulk operator C Transport Maritime has brought Japan’s Tokyo Century Corporation and Norway’s Barque onto its register as new shareholders. As part of the deal, both investors have taken equity stakes in the company and appointed representatives to the board. Financial details were not disclosed. CTM…

  • Brazilian OSV giants OceanPact and CBO to merge

    Brazilian OSV giants OceanPact and CBO to merge Brazilian offshore vessel owners OceanPact and CBO Group are set to combine their businesses in a move that will mark one of the most significant consolidation moves in Brazil’s offshore support vessel market in recent years. The companies said in a regulatory filing that the transaction will…

  • Splash Wrap: The world of shipping condensed

    Splash Wrap: The world of shipping condensed Tariffs are back at the top of the shipping news agenda once again, creating confusion just as the transpacific contracting season gets underway.  Last Friday, the US Supreme Court ruled that president Donald Trump violated federal law by using the International Emergency Economic Powers Act (IEEPA) to unilaterally…

  • McQuilling buys Spanish broker

    McQuilling buys Spanish broker New York tanker broker McQuilling has bought Madrid-based Medco Shipbrokers for an undisclosed sum, the latest in a period of significant consolidation for the shipbroking sector. “This integration enhances our combined market presence, broadens our service capabilities, and strengthens the value we deliver to clients and counterparties worldwide. By aligning our…

  • US naval forces board sanctioned Iran-linked tanker in Indian Ocean

    US naval forces board sanctioned Iran-linked tanker in Indian Ocean US naval forces have boarded the Cook Islands-flagged tanker Bertha within the US Indo-Pacific Command Area of Responsibility in the Indian Ocean. The US Department of War stated that forces conducted a “right-of-visit maritime interdiction and boarding” overnight without incident. The Department said on X…

  • Maersk and MSC handed temporary running of Hutchison’s Panamanian terminals

    Maersk and MSC handed temporary running of Hutchison’s Panamanian terminals Maersk and Mediterranean Shipping Co (MSC) have moved in to run key terminals at the entrances to the Panama Canal after Panama published a Supreme Court ruling annulling long‑running concessions held by CK Hutchison’s Panama Ports Company (PPC), clearing the way for an immediate handover…

  • Trump tariff turmoil clouds transpacific contracting season

    Trump tariff turmoil clouds transpacific contracting season Tariffs are back at the top of the shipping news agenda once again, creating confusion just as the transpacific contracting season gets underway.  On Friday, the US Supreme Court ruled that president Donald Trump violated federal law by using the International Emergency Economic Powers Act (IEEPA) to unilaterally…

  • Teekay Tankers offloads sole VLCC

    Teekay Tankers offloads sole VLCC Teekay Tankers is pulling out of the VLCC segment, agreeing to sell its only supertanker in a deal that leaves the New York-listed owner focused squarely on suezmax and aframax tonnage. The Kenneth Hvid-led company said it has struck a deal to sell the 2013-built, 318,700 dwt Singapore Spirit —…

  • Oregon maps four offshore wind futures, from zero build to 3GW

    Oregon maps four offshore wind futures, from zero build to 3GW The US state of Oregon has unveiled a draft offshore wind roadmap outlining four potential futures off its deepwater west coast, from zero turbines to 3 GW of floating wind, with public input open until April 3. Gestating since June 2024, the Oregon Department…

  • CK Hutchison warns Maersk off Balboa and Cristobal

    CK Hutchison warns Maersk off Balboa and Cristobal Hong Kong terminal operator CK Hutchison has escalated its fight over two Panama Canal terminals by warning A.P. Moller‑Maersk that any attempt by APM Terminals to assume operations without Hutchison’s consent would trigger legal recourse and claims for damages. In a public update, Hutchison said it had…

  • Fednav returns to Oshima for new handysize series

    Fednav returns to Oshima for new handysize series Canadian dry bulk owner and operator Fednav is heading back to Japan for a new series of handysize bulkers, marking its latest move in the newbuilding market. The Montreal-based company has signed a letter of intent with Oshima Shipbuilding for four 35,000 dwt lakers, with deliveries scheduled…

  • MISC wins contract to supply first-ever Papua New Guinea FSO

    MISC wins contract to supply first-ever Papua New Guinea FSO Malaysia’s MISC has secured a bareboat charter deal with ExxonMobil to supply Papua New Guinea’s first offshore floating storage and offloading (FSO) unit. The 15-year firm contract carries an option for ExxonMobil’s Papua New Guinea arm to extend another 15 years. Operations will kick off…

  • TGS expands Gulf of Mexico footprint with new OBN campaign

    TGS expands Gulf of Mexico footprint with new OBN campaign Oslo-listed seismic data specialist TGS, in strategic collaboration with SLB, has announced the launch of Engagement 9, the latest phase of its ocean bottom node multi-client campaign in the Gulf of Mexico. Engagement 9 covers 161 OCS blocks in the Walker Ridge protraction area, one…

  • Transocean snaps up Valaris in $5.8bn stock deal

    Transocean snaps up Valaris in $5.8bn stock deal Transocean is set to absorb rival offshore driller Valaris in a move that reshapes the upper end of the global rig market and adds fresh momentum to an already busy consolidation cycle. The Switzerland-based offshore drilling heavyweight said it has signed a definitive agreement to acquire US-listed…

  • Exmar seals Cedar FLNG deal

    Exmar seals Cedar FLNG deal Belgian gas shipping and infrastructure group Exmar has been selected by Cedar LNG Partners to provide marine and operational services for the project’s floating liquefied natural gas unit. Under the agreement, the Antwerp-based owner will deliver marine operations and maintenance services for the FLNG vessel megúgu, which is currently under…

  • Panama’s port purge draws China’s ire

    Panama’s port purge draws China’s ire The diplomatic spat between China and Panama is worsening over the Central American nation’s decision last week to strip Hong Kong’s CK Hutchison of its rights to operate two ports.  Panama’s president, José Raúl Mulino, declared the government will never again award the Balboa and Cristobal port concessions to…

  • Splash Wrap: Ports in a storm

    Splash Wrap: Ports in a storm The deepening dispute between Panama and China over two key ports at the Panama Canal was a constant source of headlines following a landmark Supreme Court ruling that invalidated CK Hutchison’s long-held concession contracts. A trade pact between the US and India that cuts American tariffs and ties New…

  • NYK and Ocean Yield clinch LNG carrier deal with Cheniere

    NYK and Ocean Yield clinch LNG carrier deal with Cheniere Japan’s Nippon Yusen Kaisha (NYK), together with Norwegian shipleasing player Ocean Yield, has locked in long-term charter contracts for a series of new liquefied natural gas carriers with US LNG heavyweight Cheniere. The fixture confirms market talk that emerged in December when NYK and Ocean…

  • CK Hutchison launches arbitration after Panama court voids port concessions

    CK Hutchison launches arbitration after Panama court voids port concessions Hong Kong’s CK Hutchison has launched arbitration proceedings against the republic of Panama, escalating a deepening dispute over two key ports at the Panama Canal following a landmark Supreme Court ruling last week that invalidated its long-held concession contracts. The conglomerate disclosed early Wednesday that…

  • Floatel firms up vessel deal in Brazil

    Floatel firms up vessel deal in Brazil Oslo’s Floatel has firmed up Floatel Victory for another Brazil maintenance and safety unit (MSU) run with Brava Energia, extending the flotel’s South American stay. Floatel International said it has converted an October letter of intent into a six-month firm contract for the unit. The 2013-built semisub starts…

  • APM Terminals steps up with offer to temporarily run Hutchison’s Panamanian ports

    APM Terminals steps up with offer to temporarily run Hutchison’s Panamanian ports Following last week’s decision by Panama’s Supreme Court to annul concession contracts held by a CK Hutchison unit for the Balboa and Cristobal terminals, Maersk-controlled APM Terminals has stepped into the breach. The Danish port operator has signalled its willingness to assume temporary…

  • Trump taps Laura DiBella to lead US shipping watchdog

    Trump taps Laura DiBella to lead US shipping watchdog President Donald Trump has named Laura DiBella as the new chairman of the Federal Maritime Commission, filling a leadership gap at the US maritime regulator as it takes on a more assertive role in global shipping oversight. DiBella, a former Florida secretary of commerce, was designated…

  • Panama court torpedoes CK Hutchison terminals deal

    Panama court torpedoes CK Hutchison terminals deal Panama’s Supreme Court has thrown CK Hutchison’s flagship Panama Ports Company (PPC) concession into limbo, ruling the Hong Kong group’s contract to operate terminals at either end of the Panama Canal unconstitutional. In a brief statement late Thursday, the court struck down the 25‑year extension granted to PPC…

  • International Seaways keeps pruning with $185m tanker sell-off

    International Seaways keeps pruning with $185m tanker sell-off International Seaways is once again thinning out its fleet, pressing ahead with the sale of older ships as it reshapes its balance sheet and trading exposure. The New York-listed tanker owner said it has sold, or agreed to sell, five vessels since the start of the year,…

  • Galveston LNG Bunker Port teams up with TOTE to build Jones Act bunker fleet

    Galveston LNG Bunker Port teams up with TOTE to build Jones Act bunker fleet Texas-based Galveston LNG Bunker Port (GLBP) has struck a strategic partnership with TOTE Services to develop and operate a fleet of dedicated Jones Act LNG bunker vessels for the US Gulf Coast. Under a newly signed heads of agreement, GLBP and…

  • US sanctions another nine vessels linked to Iran

    US sanctions another nine vessels linked to Iran Friday saw the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) slap sanctions on nine more shadow fleet vessels and their respective owners or management firms over their ties to Iran. “The Iranian regime is engaged in a ritual of economic self-immolation—a process that…

  • Houthis tease new strikes amid US carrier build‑up in the Gulf

    Houthis tease new strikes amid US carrier build‑up in the Gulf As a US carrier strike group makes its way to the Gulf, a familiar foe to commercial shipping has reared its head for the first time in months.  A video titled ‘Soon’ published overnight by the Houthis, carried below, suggests the Iranian-backed Yemeni military…

  • Danaos steps into LNG with Alaska project tie-up

    Danaos steps into LNG with Alaska project tie-up Greek owner Danaos is widening its reach beyond boxships and bulkers after striking a strategic partnership with US energy infrastructure player Glenfarne Group on the Alaska LNG project. The Nasdaq-listed company said it will invest $50m in development capital through Glenfarne Alaska Partners, while also lining up…

  • James Fisher buys stake in US autonomous vessel specialist

    James Fisher buys stake in US autonomous vessel specialist UK-based marine services group James Fisher and Sons has taken a strategic minority stake in US autonomous vessel specialist Ocean Aero, joining the company’s Series D funding round. The investment gives James Fisher increased exposure to autonomous marine systems as it looks to expand its technology…

  • Greenland control and tariffs threaten to destabilise transatlantic shipping

    Greenland control and tariffs threaten to destabilise transatlantic shipping Donald Trump has reiterated his vow to “100%” place tariffs on European countries that oppose his demand to take control of Greenland, with liners on the north Atlantic trades already coming under pressure. Westbound rates on the transatlantic container tradesfrom Europe to the US are already…

  • Modec taps DOF for FPSO mooring gig off Guyana

    Modec taps DOF for FPSO mooring gig off Guyana Norwegian offshore vessel owner DOF has won a turn-key contract award with Modec’s Guyana arm for the provision of mooring pre-lay for the Hammerhead FPSO project offshore Guyana. DOF’s North America subsea team will provide in-house project management, engineering, procurement, logistics, transportation and installation utilising DOF’s…

  • Diana ups pressure on Genco with full board challenge

    Diana ups pressure on Genco with full board challenge A full-blown boardroom fight is taking shape in the dry bulk sector after Diana Shipping moved to nominate an entirely new slate of directors at Genco Shipping & Trading, escalating a standoff over consolidation and control. Athens-based Diana, which owns about 14.8% of Genco, said it…

  • Splash Wrap: Global seaborne trading map redrawn

    Splash Wrap: Global seaborne trading map redrawn The US said it will target ‘dozens’ of Venezuela‑linked tankers in a serious shadow fleet squeeze. Thursday saw a sixth tanker apprehended by US forces, while Vitol and Trafigura became the first international companies to start shipping oil out of Venezuela since the January 3 ousting of Nicolas…

  • US forces seize sixth tanker linked to Venezuelan trades

    US forces seize sixth tanker linked to Venezuelan trades US Southern Command has apprehended the 2003-built Veronica aframax during a pre-dawn operation yesterday, the sixth tanker with Venezuelan links to be taken by American forces in recent weeks. The Veronica, previously known as Pegas and Lana, has a troubled history; it was seized by Greek…

  • Equinor taps Archer for deepwater P&A work in Gulf of Mexico

    Equinor taps Archer for deepwater P&A work in Gulf of Mexico Norwegian offshore service provider Archer, in collaboration with SLB, has been awarded an integrated plug and abandonment contract with Equinor for the Titan platform in the Gulf of Mexico. The service offerings under the contract include project management, well engineering, provision of a compact…

  • US targets ‘dozens’ of Venezuela‑linked tankers in shadow fleet squeeze

    US targets ‘dozens’ of Venezuela‑linked tankers in shadow fleet squeeze The United States is gearing up to grab a lot more Venezuela‑linked tonnage, with scores of seizure warrants now in play as Washington tightens its grip on the country’s oil exports and the shadow fleet that moves them. According to sources quoted by Reuters, the…

  • US tightens naval grip on Venezuelan oil exports with new tanker seizure

    US tightens naval grip on Venezuelan oil exports with new tanker seizure US forces are continuing the pressure on Venezuela with the seizure of a third tanker in just two days. Maritime security specialist Vanguard said that the falsely flagged Timor-Leste tanker Olina had been seized by US forces in the Caribbean after breaking away…

  • Solstad adds $15m as Petrobras extends AHTS contract

    Solstad adds $15m as Petrobras extends AHTS contract Solstad Offshore has agreed revised terms with Petrobras for the anchor handling tug supply vessel Normand Turquesa, extending the ship’s current work and pushing back the start of a previously announced long-term charter. The Norwegian offshore owner said the existing contract for the 2007-built AHTS has been…

  • US seizes renamed Venezuela-linked VLCC after weeks-long chase

    US seizes renamed Venezuela-linked VLCC after weeks-long chase The US forces have seized two Venezuela-linked tankers, one after a two-week chase, a name change, and reports of a Russian submarine nearby. One of the tankers seized by US authorities is the 2002-built VLCC Marinera, formerly known as the Bella 1. While still under its previous…

  • Venezuela crisis widens gap between mainstream and grey tonnage

    Venezuela crisis widens gap between mainstream and grey tonnage The extradition of Venezuelan president Nicolás Maduro to the United States has sent fresh ripples through tanker markets, not because barrels have suddenly disappeared, but because the political shock is reshaping trade routes, risk appetite and the definition of what constitutes tradable tonnage. Brokers and analysts…

  • Transocean scores $168m worth of deals from BP and Equinor

    Transocean scores $168m worth of deals from BP and Equinor Swiss-based offshore drilling giant Transocean has won a new contract and an extension for two of its drilling rigs. In Brazil, the 2011-built drillship Deepwater Mykonos was awarded a contract with giant BP. The rig is currently working for Petrobras. The firm part of the…

  • DOF wins $150m ROV support vessel contract in Brazil

    DOF wins $150m ROV support vessel contract in Brazil Norwegian offshore vessel owner DOF has secured another long-term contract in Brazil, adding a four-year deal with Petrobras for the ROV support vessel Skandi Commander. The Oslo-listed company said the award follows the same competitive tender process that earlier delivered six four-year RSV contracts. The latest…

  • LLOG awards installation work on US Gulf of Mexico field to Subsea7

    LLOG awards installation work on US Gulf of Mexico field to Subsea7 Offshore engineering and services player Subsea7 has won a deal from US exploration and production company LLOG Exploration for work on the Buckskin South Expansion project. The scope of work includes the transportation and installation of a subsea umbilical and a rigid flowline…

  • DOF bags vessel awards across Americas, Africa and North Sea

    DOF bags vessel awards across Americas, Africa and North Sea Norwegian offshore vessel owner DOF has raked in a batch of new vessel contracts and an IMR deal with Shell in Trinidad and Tobago. The contracts will be executed primarily using DOF’s regional fleet during the fourth quarter of 2025 and the first quarter of…

  • Second tanker seized as US tightens Venezuela oil net

    Second tanker seized as US tightens Venezuela oil net US authorities have intercepted and boarded an oil tanker carrying Venezuelan crude east of Barbados, marking the second seizure of a vessel linked to Venezuela’s oil trade and the first since President Donald Trump ordered a blockade on sanctioned tankers moving to and from the country.…

  • Sanctions enforcement intensifies as US seizes third Venezuela-linked tanker

    Sanctions enforcement intensifies as US seizes third Venezuela-linked tanker US authorities have seized a third oil tanker linked to Venezuela after a pursuit in the Caribbean Sea. This is also the second tanker seized by US forces in less than 24 hours. The US Coast Guard tried to intercept the 2002-built VLCC Bella 1 late…

  • Trump moves to choke Venezuelan oil shipping with ‘total and complete’ tanker blockade

    Trump moves to choke Venezuelan oil shipping with ‘total and complete’ tanker blockade In a major escalation of maritime pressure on Caracas, US president Donald Trump has ordered “a total and complete blockade of all sanctioned oil tankers going into, and out of, Venezuela,” intensifying efforts to squeeze president Nicolás Maduro’s lifeline crude exports. The…

  • ICTSI pours $175m into Rio terminal expansion

    ICTSI pours $175m into Rio terminal expansion Manila-based port operator International Container Terminal Services Inc (ICTSI) is pressing ahead with a major expansion at Brazil’s Rio Brasil Terminal, committing R$948m ($175m) to lift capacity and modernise operations at the Port of Rio de Janeiro. The investment programme, running from 2025 to 2029, will increase annual…

  • US identifies dozens of tankers for possible seizure

    US identifies dozens of tankers for possible seizure Washington is gearing up for a wave of tanker seizures off Venezuela as the Trump administration revives and escalates sanctions enforcement against the country’s oil trade. A day after announcing the dramatic capture of a stateless VLCC (pictured) carrying sanctioned Venezuelan crude, the US treasury on Thursday…

  • Klaveness Combination Carriers seals long-term contract of affreightment with Alunorte

    Klaveness Combination Carriers seals long-term contract of affreightment with Alunorte Klaveness Combination Carriers has secured a new long-term contract of affreightment with Brazil’s Alunorte, extending the Norwegian owner’s presence in the alumina supply chain. The 32-month deal, starting in March 2026, will see KCC move caustic soda solution to Alunorte’s refinery. The work will be…

  • Splash Wrap: All eyes on the Suez Canal

    Splash Wrap: All eyes on the Suez Canal The Suez Canal Authority was in bullish form this week, suggesting that many shipping companies are readying to ditch the Cape of Good Hope and return to Red Sea transits, something that will have an enormous impact on freight rates.  Diana Shipping made its move on New…

  • Allseas lands Enbridge contract in US Gulf

    Allseas lands Enbridge contract in US Gulf Allseas has secured a contract from Enbridge Offshore Facilities to install more than 500 km of deepwater export pipelines in the US Gulf. The Swiss contractor will build and install four export lines linking upcoming deepwater fields in the Keathley Canyon area to existing hubs in Green Canyon…

  • Diana Shipping tables buyout offer for Genco

    Diana Shipping tables buyout offer for Genco Diana Shipping has made its move on New York-listed Genco Shipping & Trading, tabling a cash offer to acquire all remaining shares it does not already own at $20.60 per share. The Athens-based owner, led by chief executive Semiramis Paliou, holds 14.8% of Genco after steadily building its…

  • Atlas Maritime revealed as seller in $194m Okeanis suezmax deal

    Atlas Maritime revealed as seller in $194m Okeanis suezmax deal Greek owner Okeanis Eco Tankers disclosed last week that it is expanding its crude fleet with the purchase of two suezmax newbuilding resales. Brokers now reveal the seller as Atlas Maritime, with the vessels identified as Viking Star and North Star.  The New York- and…

  • Splash Wrap: Bridges, bombs, bottlenecks

    Splash Wrap: Bridges, bombs, bottlenecks The Black Sea entered one of its most volatile phases as Ukraine and Russia escalated long-range strikes on each other’s critical energy and port infrastructure, leaving commercial shipping exposed to huge levels of risk. Latest shipping traffic data points toward a rise in Suez Canal transits, with authorities in Egypt…

  • US targets sprawling Iranian shadow fleet network in latest sanctions drive

    US targets sprawling Iranian shadow fleet network in latest sanctions drive The United States has unveiled one of its most extensive crackdowns to date on the Iranian oil-ecosystem, blacklisting a web of front companies, intermediaries and tankers that Washington says bankroll Tehran’s armed forces through clandestine crude sales. The action, announced overnight by the US…

  • SLB OneSubsea bags work on BP’s Gulf of Mexico project

    SLB OneSubsea bags work on BP’s Gulf of Mexico project SLB OneSubsea, a joint venture backed by SLB, Aker Solutions, and Subsea7, has won a contract from energy major BP for a subsea boosting system in the Tiber deepwater development off the US. This engineering, procurement and construction (EPC) contract for Tiber comes in close…

  • Genco bulks up with newcastlemax brace

    Genco bulks up with newcastlemax brace US-based Genco Shipping & Trading has struck a deal to buy two modern, scrubber-fitted newcastlemax bulk carriers for a combined $145.5m, marking the company’s first move into the segment. The New York-listed owner, led by John Wobensmith, expects to take delivery of the 208,000 dwt vessels in the first…

  • American private equity eyes Korean yard investment

    American private equity eyes Korean yard investment Taekwang Group has muscled into the bidding war for K Shipbuilding, joining forces with TPG, a US private equity firm formerly known as Texas Pacific Group. The consortium has submitted a letter of intent to acquire management control of the Jinhae-based yard, one of three confirmed bidders for…

  • Splash Wrap: Flows shift again

    Splash Wrap: Flows shift again The Houthis officially announced that they have paused maritime attacks on Israel and lifted their so-called naval blockade on Israeli ports. This announcement appeared at the end of a letter sent to Hamas’s military wing, Kata’ib al-Qassam, by the newly appointed Houthi chief of staff, Yousef Hassan Al-Madani, who succeeded…

  • Samsung Heavy to build Amogy ammonia power systems

    Samsung Heavy to build Amogy ammonia power systems US ammonia power specialist Amogy has teamed up with Samsung Heavy Industries (SHI) in a multi-year strategic partnership to manufacture its ammonia-to-power systems in South Korea. Under the agreement, SHI will set up a dedicated facility to produce and test Amogy’s systems for both maritime and land-based…

  • Newbuild bulker design to lock away carbon at sea

    Newbuild bulker design to lock away carbon at sea Climate-tech start-up Calcarea and Dutch naval architect Aurelia Design have joined forces to develop a commercial ship design integrating ocean-based carbon capture technology. The partnership will combine Calcarea’s limestone weathering system — a process that removes CO₂ by accelerating its natural reaction with seawater and limestone…

  • Norden extends partnership with wood pellet maker Enviva

    Norden extends partnership with wood pellet maker Enviva Danish shipowner Norden has signed a new two-year contract of affreightment with US-based wood pellet producer Enviva, covering shipments from the US to Europe starting in 2026. Under the agreement, Norden will carry multiple handysize cargoes of wood pellets from loading ports along the US East and…

  • TGS secures multi-year survey agreement with Chevron

    TGS secures multi-year survey agreement with Chevron Oslo-listed seismic data specialist TGS and US supermajor Chevron have signed a three-year capacity agreement for marine streamer and OBN acquisition services. The minimum firm commitment under the three-year term of the capacity agreement is 18 months of a combination of OBN and streamer acquisition services. The two…

  • Splash Wrap: Deals, diplomacy and disruption

    Splash Wrap: Deals, diplomacy and disruption Donald Trump’s tour of Asia provided the biggest shipping news of the week. His meet-up with his Chinese counterpart, Xi Jinping, yesterday saw the tit-for-tat port fees shelved for a year, and panamaxes surging as China committed to resume buying large amounts of American grain. Trump’s earlier meetings this…

  • APM Terminals and Alabama Port move ahead with Mobile expansion

    APM Terminals and Alabama Port move ahead with Mobile expansion APM Terminals and the Alabama Port Authority have agreed to move ahead with a $131m expansion at the Port of Mobile, adding a new 1,300-foot container berth to handle growing trade volumes through the Gulf of Mexico gateway. The “Phase V” project will boost berth…

  • Havila vessel gets more time with OceanPact

    Havila vessel gets more time with OceanPact Norwegian offshore vessel owner Havila Shipping has secured a contract extension with OceanPact for its subsea vessel Havila Harmony. The 2005-built vessel will remain with the Brazilian offshore vessel owner and services provider on a bareboat charter until the end of 2026. The financial terms of the latest…

  • Stena offloads fire-damaged tanker for repair in Turkey

    Stena offloads fire-damaged tanker for repair in Turkey Stena Bulk has sold the fire-damaged Stena Immaculate to an undisclosed buyer who plans to repair the vessel at Desan Shipyard in Turkey. The Swedish tanker owner confirmed the sale, saying the deal involves the 2017-built 49,700-dwt MR unit, which was badly damaged in a collision with…

  • Floatel extends Brazil run with fresh vessel deal

    Floatel extends Brazil run with fresh vessel deal Oslo-based offshore accommodation specialist Floatel International has secured another letter of intent (LOI) for the Floatel Victory, extending the unit’s upcoming campaign offshore Brazil. The 2013-built semisubmersible accommodation unit has been lined up to provide maintenance and safety unit (MSU) services for a 6–7-month assignment starting in…

  • China and India step back from Russian oil under US pressure

    China and India step back from Russian oil under US pressure The oil markets are in flux today as tanker trades retrench and Russia’s two largest buyers of oil pause buying the fuel that has helped fund Moscow’s war in Ukraine for the past three and a half years.  News has emerged in the past…

  • Splash Wrap: Sanctions, shadow fleets, and shifting tides

    Splash Wrap: Sanctions, shadow fleets, and shifting tides US president Donald Trump unveiled sweeping sanctions on Russia’s top oil producers, Rosneft and Lukoil, this week in his most extensive energy crackdown since returning to office. Aimed at forcing Moscow toward peace talks, the measures cut the companies off from US banking and dollar systems. The…

  • Flag-hopping hits extreme levels

    Flag-hopping hits extreme levels The monthly publication of Clarksons Research’s World Fleet Monitor increasingly shows data that reflects the extraordinary geopolitical challenges and machinations that shipping has to navigate in 2025. With flag-hopping becoming standard operating procedure for the shadow – or parallel – fleet, monthly changes in registry numbers have never been so extreme…

  • Trump’s Russian oil sanctions set to redraw global tanker trading map

    Trump’s Russian oil sanctions set to redraw global tanker trading map US president Donald Trump has imposed sweeping new sanctions on Russia’s two biggest oil producers, Rosneft and Lukoil, in what he described as “tremendous sanctions” aimed at forcing Moscow to the negotiating table over its war in Ukraine. The sanctions have the potential to…

  • How geopolitics is redrawing the world’s shipping routes

    How geopolitics is redrawing the world’s shipping routes Globalisation isn’t dead, but it’s changing course, writes Neil Shearing, group chief economist at Capital Economics, and author of this year’s bestseller The Fractured Age. Commentators have been quick to declare globalisation dead. But, as is so often the case in economics, the reality is more complicated…

  • Rising US deportations of Filipino crew spark diplomatic intervention

    Rising US deportations of Filipino crew spark diplomatic intervention The Philippines has demanded an explanation from Washington after a rising number of Filipino seafarers were reportedly denied entry to the United States and deported in recent months. In a statement issued on Tuesday, the Philippine Embassy in Washington, DC, said it had sought clarification from…

  • Shipping heavyweights join bid to standardise emissions tracking

    Shipping heavyweights join bid to standardise emissions tracking Carbon Measures, a new global coalition representing major businesses from diverse industries and geographies, including famous names from shipping, ports and large charterers, has launched this week seeking to establish what they claim is a more accurate carbon accounting framework as well as to drive market-based solutions…

  • KKR launches $500m container leasing venture

    KKR launches $500m container leasing venture US investment giant KKR has launched a new container leasing and financing company with half a billion dollars in committed capital, marking its latest move into asset-based maritime investments. The new venture, Galaxy Container Solutions, will be owned by KKR-managed credit funds and accounts under its Asset-Based Finance strategy.…

  • ABS buys MetaSHIP in digital training push

    ABS buys MetaSHIP in digital training push US classification society ABS has agreed to acquire the MetaSHIP training and simulation platform from Orka Informatics, following in the footsteps of its UK peer Lloyd’s Register, which bought Ocean Technologies Group (OTG) in late 2024. The move marks another major step by a leading class society into…

  • Baltic Exchange charts new routes for Canadian crude trade

    Baltic Exchange charts new routes for Canadian crude trade The Baltic Exchange has expanded its tanker benchmark portfolio with two new aframax routes reflecting the rise of Canadian crude exports to Asia and growing geopolitical uncertainty in global oil trade. The new assessments — TD28, which tracks voyages from Vancouver to Ningbo, China, and TD29,…

  • Panamax boxship hit with $1.7m Shanghai fee as China’s new port levies bite

    Panamax boxship hit with $1.7m Shanghai fee as China’s new port levies bite $1.7m. That’s the fee – or RMB12.1m – that the German owners of the US-flagged Matson Waikiki are being forced to pay to allow the vessel to dock in Shanghai, a sizeable sum, and an indication of the chaos, and costs, that…

  • Petrobras hires two more DOF vessels

    Petrobras hires two more DOF vessels Norwegian offshore vessel owner DOF has won two long-term contracts in Brazil with state-owned oil firm Petrobras. Petrobras hired the 2005-built Skandi Chieftain and the 2009-built Skandi Olympia on a four-year contract. The two contracts have a combined value of approximately $200m. Both vessels will operate with one work-class…

  • Trump administration threatens sanctions over IMO climate vote

    Trump administration threatens sanctions over IMO climate vote The Trump administration’s weaponisation of trade and shipping reached a new level on Friday, with Washington threatening to sanction nations that vote in favour of the International Maritime Organization’s (IMO) upcoming Net Zero Framework (NZF) — a global plan to cut shipping’s greenhouse gas emissions. In a…

  • DP World seals 10-year extension with Hapag-Lloyd at Santos

    DP World seals 10-year extension with Hapag-Lloyd at Santos Dubai-based ports and logistics player DP World has renewed its partnership with German liner Hapag-Lloyd for another decade, extending the long-running agreement between the two companies at the Port of Santos, Brazil’s largest container hub. The new contract secures continued cooperation that began in 2014, ensuring Hapag-Lloyd’s…

  • ExxonMobil steps into LNG bunkering with Avenir and Evalend newbuilds

    ExxonMobil steps into LNG bunkering with Avenir and Evalend newbuilds ExxonMobil has moved to enter the LNG marine bunkering market with two purpose-built vessels, as it looks to expand its portfolio of lower-emission marine fuels. The US energy major will begin operations in 2027, deploying two LNG bunker ships — one chartered from Avenir LNG…

  • US hits Iranian energy export network and Chinese import hub in sweeping sanctions move

    US hits Iranian energy export network and Chinese import hub in sweeping sanctions move The US has imposed sweeping sanctions on a vast network tied to Iran’s oil and gas exports, blacklisting more than 50 individuals and entities and identifying more than 30 vessels linked to shipments of sanctioned crude and LPG — including one…

  • Sanctions list swells, momentum fades

    Sanctions list swells, momentum fades Over the past five years, the number of sanctioned vessels has expanded steadily, rising from around 350 in September 2020 to roughly 1,700 by September 2025, according to analysis from maritime analytics firm Kpler. The overlap between various administrations sanctioning ships is also finally starting to grow with greater coordination…

  • Alternative lender Hudson Structured raises $719m for ship finance

    Alternative lender Hudson Structured raises $719m for ship finance US alternative financier Hudson Structured Capital Management (HSCM) has raised $719m for its latest shipping vehicle, marking the Connecticut-based firm’s largest maritime fund to date. The new fund, Hudson Northern Shipping Fund V (HNSF V), exceeded its $700m target, underscoring continued investor appetite for ship finance…

  • USTR fees could impact 35% of key sectors’ ships: BIMCO

    USTR fees could impact 35% of key sectors’ ships: BIMCO When fees from the Office of the United States Trade Representative (USTR) targeting Chinese dominance of the maritime sector come into effect next week on October 14, 35% of ships in the combined bulk, crude tanker, product tanker and container fleet could be subject to…

  • US unveils payment rules for new China vessel fees

    US unveils payment rules for new China vessel fees US Customs provided over the weekend more details about the upcoming hiked port fees for Chinese-linked tonnage, due to come into effect next week. The notice makes clear: the burden for determining liability lies squarely with the vessel operator, not US Customs. Vessels failing to show…

  • DOF nets $60m North America contract haul

    DOF nets $60m North America contract haul Norwegian offshore vessel owner and services player DOF Group has picked up a string of new contracts in North America worth more than $60m, securing over 300 vessel days with further options attached. The work will be carried out by vessels already positioned in the region, covering subsea,…

  • Genco adopts poison pill to limit hostile takeovers

    Genco adopts poison pill to limit hostile takeovers US-based dry bulk owner Genco Shipping & Trading has adopted a limited-duration shareholder rights plan designed to prevent a takeover of the company. The rights plan is effective immediately and has a one-year duration expiring on September 30, 2026. Pursuant to the plan, Genco will issue one right…

  • Diana Shipping doubles down on Genco stake with $103m outlay

    Diana Shipping doubles down on Genco stake with $103m outlay Greek dry bulk owner Diana Shipping has lifted its holding in New York-listed peer Genco Shipping & Trading to nearly 15%, becoming the company’s largest known shareholder. Regulatory filings show the Semiramis Paliou-led owner spent about $103.5m between late April and the end of September…

  • Costamare and Cargill set course for joint dry bulk ventures

    Costamare and Cargill set course for joint dry bulk ventures Costamare Bulkers has signed a wide-ranging cooperation agreement with Cargill, shifting focus toward steadier earnings while deepening ties with one of the dry bulk sector’s largest charterers. The New York-listed Greek owner said the deal includes transferring to Cargill most of its trading book, covering…

  • TechnipFMC bags work on Exxon’s seventh Guyana project

    TechnipFMC bags work on Exxon’s seventh Guyana project Offshore contracting giant TechnipFMC has been awarded a contract to supply subsea production systems for ExxonMobil’s Hammerhead development in Guyana’s Stabroek Block. TechnipFMC will provide project management, engineering, and manufacturing of subsea production systems supporting both production and water injection capabilities. The subsea architecture will include products…

  • UNCTAD warns shipping is entering a period of fragile growth and mounting uncertainty

    UNCTAD warns shipping is entering a period of fragile growth and mounting uncertainty Global shipping is entering a period of fragile growth, rising costs and mounting uncertainty, according to The Review of Maritime Transport 2025 released yesterday by UN Trade and Development (UNCTAD). After firm growth last year, seaborne trade is expected to stall in…

  • Seatrium offloads US shipyard to Karpowership

    Seatrium offloads US shipyard to Karpowership Singapore shipyard group Seatrium has sold its AmMFELS yard located at Brownsville, Texas, for a consideration of S$65m ($50.6m) to Karpower Valley, a related party of Karpowership. Seatrium stated that the accretive divestment would allow the company to enhance capital and operational efficiencies while unlocking value from one of…

  • HD Hyundai eyes US yard in bid to cash in on Trump’s shipbuilding revival

    HD Hyundai eyes US yard in bid to cash in on Trump’s shipbuilding revival South Korea’s HD Hyundai Heavy Industries has confirmed it is in talks with multiple firms to buy a US shipyard, a move aimed at tapping into Washington’s resurgent naval build-up under president Donald Trump. A senior HD Hyundai executive told Reuters…

  • COSCO pledges stable transpac coverage as US fee regime nears

    COSCO pledges stable transpac coverage as US fee regime nears With less than four weeks until the US hikes port fees for China-linked tonnage, COSCO, the world’s fourth largest containerline, has moved to reassure clients it will maintain a stable coverage on the transpacific.  COSCO conceded in a note to clients that the new fees…

  • Leadership handover at Pangaea as long-serving CEO Filanowski retires

    Leadership handover at Pangaea as long-serving CEO Filanowski retires Newport-based Pangaea Logistics Solutions has confirmed a leadership transition with CEO Mark Filanowski stepping down at the turn of the year after more than a decade at the helm. Chief operating officer Mads Petersen will take over as president and CEO from January 1, 2026. Filanowski,…