A Qatari LNG tanker remained stranded off Oman on Wednesday after a projectile strike sparked a fire in its engine room, though industry sources said the vessel's cargo appeared secure and the risk of an explosion was low for now.The attacks on the tankers prompted Washington to revoke a licence allowing Iran to sell oil and U.S. forces to strike Iranian targets overnight.
Iran said it had captured two container ships seeking to exit the Gulf via the Strait of Hormuz on Wednesday after firing on them and another vessel, in its first seizures since its war with the United States and Israel began in February.Iran's semi-official Tasnim news agency reported the seizures and added its Revolutionary Guard Corps Navy had warned that any disruption to order and safety in
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.
Canada's Prime Minister Mark Carney signed an agreement with Alberta's premier on Thursday that rolls back certain climate rules to spur investment in energy production, while encouraging construction of a new oil pipeline to the West Coast.Under the agreement, the federal government will scrap a planned emissions cap on the oil and gas sector and drop rules on clean electricity in exchange for
Asian countries including Vietnam, Thailand, the Philippines, Indonesia and Sri Lanka are lining up to buy Russian oil as the Iran war blocks supplies, raising the possibility that demand may exceed supply, several sources including Russia said.Since the war in Ukraine prompted European customers - once the biggest buyers of Russian oil and gas - to shun Moscow
Peter Sand, Xeneta Chief Analyst:“The recent tariff ruling by the US Supreme Court will have knock-on impacts for ocean container shipping, but this will be nuanced and unlikely to cause a huge increase in frontloading demand, even though tariffs on some Chinese manufactured goods are lower today than a week ago.
“Average spot rates are down this week across all main fronthaul trades out of the Far East. From Far East to US West Coast and US East Coast, it is a textbook market development with falling spot rates coinciding with a slight uptick in offered capacity,” said Peter Sand, Xeneta Chief Analyst.
Iron ore shipments on the Great Lakes totaled 2 million tons in January, a near match to 2025. Loadings were below the month’s 5-year average by 14.5 percent.Since 1880, Lake Carriers’ has represented the U.S.-flag Great Lakes fleet, which today can move more than 90 million tons of cargos annually that are the foundation of American industry, infrastructure, and power: iron ore, stone, coal
U.S.-flag Great Lakes freighters (lakers) carried 71.3 million tons of cargo in 2025, an 8.9 percent decrease from a year ago. 2025 cargo movement on the Great Lakes was 8.1 percent below the fleet’s 5-year average.Except for salt shipments, which increased by 4.1 percent, all commodity shipments decreased in 2025. Iron ore shipments were down 10.8 percent from 2024 to 39.1 million tons.
Odyssey Marine Exploration, Inc., a U.S.-based ocean exploration and marine resource development leader, received news that the Bureau of Ocean Energy Management’s (BOEM), a department of the U.S. Department of Interior (DOI), has initiated the formal review process for its unsolicited request for a potential marine mineral lease sale in federal waters offshore Virginia.
Odyssey Marine Exploration said on Friday it has sought U.S. regulators' permission to explore and mine mineral-rich sands off the Mid-Atlantic coast, as the country bolsters domestic supplies of materials vital for various industries.The site is believed to hold heavy mineral sands containing titanium, zirconium, rare earth elements and phosphate - materials vital to defense, electronics
President Vladimir Putin said on Wednesday that Russia had successfully tested a Poseidon nuclear-powered super torpedo that military analysts say is capable of devastating coastal regions by triggering vast radioactive ocean swells.As U.S. President Donald Trump has toughened both his rhetoric and his stance on Russia