At first glance, the Iran war appears to be hitting oil and gas with equal force, as missiles, drone strikes and shipping disruptions choke flows through the Strait of Hormuz.But beneath that surface symmetry lies a critical imbalance. The global gas supply chain has fewer rerouting options and less storage capacity than the oil market - making the fallout for gas consumers considerably more
Major US maritime organizations have issued statements voicing their concern over the Trump Administration’s decision to issue a sweeping 60-day waiver of the Jones Act.Under the Jones Act, goods shipped between U.S. ports must be carried on vessels that are U.S.-built, U.S.-flagged and mostly U.S.-owned. A coalition of U.S.
The Trump administration is considering waiving the century-old Jones Act for a limited period to ensure energy and agricultural shipments can move freely between U.S. ports, press secretary Karoline Leavitt said on Thursday, in a bid to combat Iran-related supply disruptions."In the interest of national defense
One of Australia's biggest coal export ports will resume operations on Monday, the port operator said, after climate-change protesters disrupted shipping at the Port of Newcastle for a second day on Sunday.Climate activist group Rising Tide, which claimed responsibility for the latest protest, said hundreds of activists paddled kayaks into the shipping lane of Newcastle Harbour on Sunday morning
The Philippines and Canada signed a pact on Sunday for their armed forces to train on each other's soil, boosting defense cooperation to tackle common security concerns in the Indo-Pacific region.Canada's first such deal in the region, the Status of Visiting Forces Agreement (SOVFA) takes to five the number of accords on troops Manila has concluded with allies
The U.S. military killed five alleged drug smugglers in strikes against two vessels in the eastern Pacific Ocean, U.S. Defense Secretary Pete Hegseth said on Wednesday, in an expansion of the Trump administration's use of the armed forces in its counter-narcotics campaign.On Wednesday afternoon, Hegseth said the military attacked a vessel in the eastern Pacific Ocean and killed two men on Tuesday.
Vessels owned or operated by U.S. firms and individuals - or those built in the United States or that fly the U.S. flag - will be charged additional port fees per voyage starting on October 14, China's transport ministry said.The fees are a counter-measure against upcoming U.S. port fees on Chinese ships, the ministry said on Friday.
South Korean defense, shipbuilding and energy solutions provider Hanwha Group has appointed Alex Wong as Global Chief Strategy Officer (CSO) to lead the company's strategic initiatives in international markets.In this newly created role based in Washington, D.C., Wong will spearhead Hanwha's efforts to deepen partnerships, build defense capabilities
Yemen's Houthis said on Monday they launched a missile towards the Israeli-owned tanker Scarlet Ray near Saudi Arabia's Red Sea port city of Yanbu in a rare attack off the Saudi coast.The Liberia-flagged vessel's Singapore-based manager, Eastern Pacific Shipping, owned by Israeli magnate Idan Ofer, said the chemical tanker was undamaged and under the command of its captain.
Rates for shipping cargo containers from China to the U.S. have dropped by more than half since earlier this month, as imports rebounded less than expected after the slump that followed President Donald Trump slapping 145% tariffs on China.Trump quickly reversed course by lowering the rate to 30%. That cost increase on goods from the nation's No.
The Shell-led LNG Canada facility has produced its first LNG for export in Kitimat, British Columbia, a spokesperson for the project confirmed on Sunday.The milestone comes in advance of the facility loading its first LNG export cargo, which LNG Canada said it remains on track to do by the middle of this year.
U.S. energy groups are asking President Donald Trump's administration to exempt liquefied natural gas tankers from a new rule that will require producers to move an increasing percentage of their exports on U.S.-built vessels as part of a broader push to revive domestic shipbuilding.The U.S. is the world's No.