Saudi Arabia's state oil company Aramco is attempting to reroute some of its crude exports to the Red Sea to avoid the Strait of Hormuz, where the risk of Iranian attacks has slowed shipping to a near halt, sources said on Tuesday.Saudi Arabia and other regional Gulf oil producers…
London's marine insurance market has widened the area in the Gulf it deems as high risk as the conflict in the Middle East escalates, according to an advisory issued on Tuesday.Guidance from the Joint War Committee, which comprises syndicate…
Greece's shipping minister on Tuesday called for the protection of global shipping and seafarers, amid an 'alarming' situation that has left dozens of ships stranded in the Strait of Hormuz and the wider area due to the widening Iran conflict…
DRIFT Energy, a leader in ocean-based renewable energy, has signed a collaboration agreement with Enapter to adapt the design of their Anion Exchange Membrane (AEM) electrolyzer technology for deployment at sea. The agreement was formalized during a visit by DRIFT’s CEO…
The Scottish Government has announced its intention to award Ferguson Marine the contracts to build four vessels. This decision provides a guaranteed five-year pipeline of work.The package of vessels as part of the proposed award includes the…
Anschütz has successfully delivered and commissioned its SYNAPSIS Integrated Navigation System (INS) on the first newbuild tanker constructed for German Tanker Shipping GmbH & Co.KG at Xiamen Shipbuilding Industry Co., Ltd (XSI).TMS Seadevil…
Ship refuelling at Fujairah, a major bunkering center in the United Arab Emirates, has slowed after the U.S.-Iran conflict disrupted fuel shipments in the region, spurring a jump in prices and potentially shifting demand to other ports including Singapore…
A fuel tank at Oman’s Duqm commercial port was hit on Tuesday when the facility came under attack from several unmanned aircraft, the state news agency said, citing a security source, on the fourth day of U.S.-Israeli strikes on Iran, which has responded by targeting neighbouring countries…
The advancement of the recently announced America’s Maritime Action Plan (MAP) is embraced by the ports in the bi-state St. Louis region as a unique opportunity to play a role in this comprehensive federal framework. The MAP is a blueprint for rebuilding the nation’s maritime strength…
Container ships account for roughly 100 of the 750 ships ensnared in the Strait of Hormuz backups following U.S. and Israeli attacks on Iran, Jeremy Nixon, CEO of container carrier Ocean Network Express (ONE), said on Monday.'About 10% of the container ship global fleet is caught up in this…
World sugar prices headed higher on Monday on fears the U.S.-Israel war against Iran, which is disrupting global energy supplies, will prompt Brazilian cane mills to produce more ethanol and less sugar.Ethanol is a cane-based biofuel. If mills…
J.F. Lehman & Company, an alternative asset manager focused on the aerospace, defense, government, maritime, environmental and infrastructure sectors, has announced that investment affiliates, including JFL Equity Investors VI, L.P., have acquired Forged Solutions Group…
ClassNK has issued approvals in principle (AiPs) for the concept designs of Bulk Carrier installed with a Membrane-based Onboard Carbon Capture and Storage System (OCCS) and 83,000m3 Ammonia Carrier with IMO Type B Independent Tank developed by Oshima Shipbuilding Co…
Qatar halted its production of liquefied natural gas on Monday as Israeli and U.S. strikes against Iran and Tehran's retaliation prompted precautionary shutdowns of oil and gas facilities across the Middle East.Saudi Arabia shut its biggest domestic oil refinery after a drone strike…
Insurance companies are cancelling war risk coverage for vessels in the Gulf as the widening Iran conflict disrupted shipping, leaving at least four tankers damaged, two seafarers killed and 150 ships stranded around the Strait of Hormuz.Shipping through the strait between Iran and Oman…
