Middle East producers are pushing ahead with loading oil and liquefied natural gas despite fresh ship attacks in the Strait of Hormuz and renewed strikes between the U.S. and Iran in recent days, shipping data showed.Energy shipping in the strait slowed after attacks on a container ship on Thursday and an oil tanker on Saturday sparked fresh tit-for-tat strikes
Since the Iranian Revolution and overthrow of Shah Mohammad Reza Pahlavi in 1979, the Strait of Hormuz has been a geographic constant as a choke point for which closure has been threatened from time to time but never truly closed. The longstanding assumption of the continued openness of the strait collapsed on February 28, 2026.
A marine drone struck a Turkish crude oil tanker that had departed Russia, causing an explosion in the Black Sea near Istanbul's Bosphorus strait on Thursday, Turkey's transportation minister said.The incident, one of several in recent months involving Western-sanctioned vessels heading to or from Russian ports, occurred in the early hours, minister Abdulkadir Uraloglu told broadcaster Kanal 24.
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
Three Greek-managed oil tankers were hit by unidentified drones in the Black Sea on Tuesday as they were on their way to load crude at a terminal on Russia's coast, sources told Reuters.The attacks come as Kazakhstan's oil production, most of which is exported via the terminal, cratered in early January.It was not immediately clear who was behind Tuesday's strikes.
Major carrier CMA CGM has announced its INDAMEX service will transit Suez Canal on fronthaul and backhaul voyages between India/Pakistan and US East Coast in a notable step towards a largescale return of container ships to the Red Sea region.The first vessel to complete a full service loop via Suez Canal will be CMA CGM Verdi, sailing from Karachi to New York on 15 January.
As oil exploration and production goes, so goes the market for Offshore Service Vessels (OSVs) and Platform Supply Vessels (PSVs). Throughout 2025, the prices of oil- which drives exploration and production (E & P), have softened, moving down towards $60/barrel amidst economic uncertainty and a wider than anticipated opening of the taps by major oil producers.
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
A U.S. Navy helicopter and a fighter jet crashed separately into the South China Sea within the space of an hour during routine operations conducted from the same aircraft carrier on Sunday, the U.S. Navy said, adding all personnel were safe.The incidents came while President Donald Trump was on a visit to Asia.
The LPG-laden tanker MV Falcon was on fire and adrift on Saturday off the coast of Yemen, after it reported an explosion that forced members of its crew to abandon the vessel, the European Union's naval force Aspides said in a statement.The cause of the explosion was unclear but most likely an accident, according to initial indications, Aspides said.
The International Maritime Organization will meet this week to formally decide whether to impose a carbon emissions price on global shipping, a move supported by an EU-led bloc including Britain, China and Japan but strongly opposed by the U.S.The IMO struck a preliminary deal to charge the global shipping industry for emissions in April after the U.S.
Offshore wind developer Orsted won shareholder approval on Friday for a $9.4 billion emergency rights issue to help fund U.S. projects thrown into uncertainty by President Donald Trump's opposition to the renewable energy source.The stakes are high for the Danish state-controlled firm