Topic
maritime
Logistics Keyfield International Enters Dredging Market with $24.7m Vessel Acquisition
Keyfield International has acquired the 2016-built trailing suction hopper dredger Inai Kenanga for $24.7m, about 61% below its $63.7m fair-market value, according to Splash247. The vessel, bought from receiver-managed Inai Rimba, will be held in an SPV with Star Naval 1 and is slated for reactivation in 2027 for dredging and land reclamation projects in Malaysia and Singapore.
Logistics Container shipping urged to move fire prevention upstream, new report says
A new Thetius and Tigris Systems report urges container shipping to screen dangerous goods at the booking stage rather than after loading. Vessel fires hit 250 in 2024, the highest in a decade, and TT Club estimates a major containership fire roughly every 60 days. The report calls for automated document screening, connected data and specialist oversight.
Logistics IAEA launches global push to bring nuclear power back to sea
The IAEA launched the ATLAS initiative in Washington with 600 participants from over 50 countries to create a regulatory and safety framework for nuclear-powered civilian shipping. Twenty-five countries backed the initiative, and experts expect some nuclear maritime concepts to be ready for deployment in the 2030s, according to Splash247.
Logistics Shippers Face Higher Costs If IMO Net-Zero Framework Vote Fails, Baxter Freight Warns
Tom Isler of Baxter Freight argues freight buyers should hope the IMO's Net-Zero Framework passes in October. A failed vote would not end carbon pricing but would fragment it into multiple surcharges, making costs harder to read, forecast and challenge. The price lands on freight bills either way.
Logistics Strait of Hormuz shipping traffic slightly rises amid Iran-Oman talks
Visible commodity vessel transits through the Strait of Hormuz rose to 10 on Wednesday from eight on Tuesday, according to Kpler data reported by Reuters, but remained below the 10-day average of about 15 vessels. Iran and Oman are still working on agreement details, while traffic at the Bab el-Mandeb strait slowed for a second day to 19 vessels.
Logistics Middle East risk permanently repriced, Paratus CEO tells Splash Singapore
Paratus founder and group CEO Gus Majed told Splash247 that Middle East risk has been permanently repriced, with war-risk premiums, crew terms, charter clauses and alternative routes through Fujairah and Sohar now embedded in the market. Singapore's bunker sales rose to 28.2m tonnes in H1 2026 despite Hormuz disruption. Majed will chair the tanker session at Splash Singapore in September.
Logistics Höegh Autoliners orders six more Aurora car carriers, raises NOK1.42bn
Höegh Autoliners has ordered six LNG dual-fuel car carriers from China Merchants Heavy Industry and raised NOK1.42bn ($152m) via an oversubscribed share placement to fund the expansion. The firm Aurora programme rises to 18 vessels, with options and reserved slots that could take the series to 26 ships and add almost 237,000 ceu of capacity, according to Splash247.
Logistics Euroseas Secures Two-Year Charter Extension for 1,740 TEU Jonathan P at $26,000 per Day
Euroseas extended the charter of its 1,740 teu containership Jonathan P for two years at $26,000 per day, up from $25,000. The deal generates about $12.7m in EBITDA and covers 97% of available days for the rest of 2026, 86% for 2027 and 50% for 2028, according to Splash247.
Logistics Ningbo-Zhoushan Overtakes Singapore as World’s Number Two Boxport
Ningbo-Zhoushan handled 22.9m teu in H1 2026, up 8.8% year-on-year, edging past Singapore's 22.7m teu to become the world's second-busiest container port, according to Alphaliner data reported by Splash247. Shanghai leads with 28.7m teu, while Jebel Ali plunged to 32nd place after Hormuz disruption cut first-half throughput from 7.77m to 3.14m teu.
Logistics Yangzijiang Maritime Moves Into Stainless Chemical Tankers With Taihua
Singapore-listed Yangzijiang Maritime Development has been linked to a 4+2 order for 28,000 dwt duplex stainless-steel chemical tankers at Zhoushan Ningxing Shipbuilding, alongside Taihua Ship Management. Market indications value the firm quartet at roughly $184m and the full six-ship package at about $276m, according to Splash247.
Logistics Container shipping tipped to normalise through Red Sea by year-end
Analyst Lars Jensen says Red Sea container shipping could normalise by end-2026 as MSC restores four Suez services and Maersk accelerates returns. Canal traffic is at its highest since January 2024 but remains 41% below pre-crisis levels, with Houthi attacks and war-risk insurance costs still elevated.
Logistics Solstad Offshore Wins $62m Petrobras CSV Contract Offshore Brazil
Solstad Offshore has won a two-year, $62m contract from Petrobras for the construction support vessel Normand Valiant, starting in Q4 2026. The vessel will provide accommodation services on the Brazilian continental shelf. The Normand Valiant is owned by Solstad Maritime and chartered to Solstad Offshore under a bareboat arrangement.
Supply Chain SmartSea CEO: Fleets must become connected operational networks, not isolated ships
Shipping digitalisation is being held back by data silos rather than a lack of sensors, according to SmartSea CEO Kris Vedat. He estimates that the industry operationalises less than 20% of available vessel data, and argues fleets should be managed as connected operational networks supported by open interoperability standards.
Logistics MSC Returns to Red Sea as Trans-Pacific Spot Rates Hold Elevated
Mediterranean Shipping Co. has joined other container lines returning to the southern Red Sea despite renewed Houthi attacks, according to FreightWaves. Trans-Pacific spot rates remain elevated, with Asia-U.S. West Coast prices up 1% to $6,826 per FEU and East Coast prices up 2% to $9,576 per FEU. Carrier capacity cuts and China port congestion are supporting rates, while U.S.-Iran and U.S.-China tensions keep the market on edge.
Logistics Hormuz compliance clash traps owners between Tehran and Washington
Iran's Persian Gulf Strait Authority has blacklisted 45 vessels transiting the Strait of Hormuz, threatening fines, detention and cargo confiscation, while the US warns that complying with Tehran's regime could trigger sanctions. The list includes ships linked to ADNOC Logistics, Bahri, Sinokor and others, with 14 already attacked. The US Treasury expanded secondary sanctions to shipping, targeting five shadow-fleet vessels.
Logistics Car Carrier Operators Form GRC Council to Improve Emissions Data Accuracy
A coalition of car carrier operators representing around 80% of global capacity has established the GRC Council to maintain and improve its GHG accounting methodology. ClassNK, the GRC's independent verifier, drafted the new governance framework and will provide verification services for emissions data. The move aims to strengthen confidence in Scope 3 reporting under FuelEU Maritime and IMO GHG measures.
Manufacturing Seoul probes safety conditions at HD Hyundai following subcontractor deaths
South Korea's Ministry of Employment and Labor has deployed a 62-strong inspection team to HD Hyundai Heavy Industries after two fatal crushing accidents killed subcontracted workers within six days. The probe covers the Ulsan and Gunsan shipyards, company headquarters, and an ultra-high-risk plant, examining entrapment, collision, fall, fire, and confined-space risks. Labour minister Kim Young-hoon promised a "zero-tolerance" approach to companies where similar fatal accidents recur.
Logistics Harland & Wolff to Overhaul Samson and Goliath Cranes Ahead of Royal Navy Contract
Harland & Wolff's Belfast shipyard will spend £3m refurbishing its Samson and Goliath cranes as part of nearly £100m of investment ahead of the Royal Navy's Fleet Solid Support contract. The overhaul is intended to restore the cranes to full lifting capacity for final assembly of three support ships.
Logistics Shipmanagement becomes crisis management as Red Sea diversions alter Asia-Europe operations
Shipmanagement has shifted into crisis-management mode, with Red Sea disruption forcing Cape of Good Hope diversions that add thousands of miles to Asia-Europe voyages. Splash247 reports decarbonisation targets, crew-change bottlenecks, war-risk cover and GPS spoofing are compounding the strain on vessel managers.
Logistics Yangzijiang Maritime orders six product tankers in $320m Haifeng newbuild deal
Yangzijiang Maritime Development has ordered six product tanker newbuildings from Jiangsu Haifeng Shipbuilding in a deal valued at more than $320m, according to Splash247. The package of four MRs and two LR2s takes the company's reported tanker programme at the yard to 14 ships, with deliveries spanning 2028 through 2030.
Logistics Global ship orderbook growth hits fastest pace since pre-Lehman boom as orderbook swells 27%
Global shipbuilding orderbook growth reached 27% year-on-year, the fastest since the eve of the 2008 financial crisis, according to Splash247. Clarksons Research data shows 9,012 ships totalling 405.9m gt on order, with Greek and Chinese owners leading contracting. Industry executives at Posidonia warned that the record $2.4trn fleet-and-orderbook value may be signalling an overheated market.
Logistics MSC reaches 500 secondhand acquisitions in six-year buying blitz
MSC has completed its 500th secondhand containership acquisition since August 2020, according to Alphaliner via Splash247. The Swiss carrier's fleet is approaching 7.4m TEU with over 21% of global capacity, and it now operates east-west trades independently of global alliances.
Logistics China's Shipbuilding Boom Draws Another Yard into Oceangoing Construction
Yizheng Kangping Ship Repair Yard has started construction of its first 5,000 ceu pure car and truck carrier, ordered by newly established Hainan Chunlong International Shipping. The project signals China's shipbuilding boom pulling smaller domestic yards into oceangoing construction. Chinese yards captured 82.3% of global newbuild orders by deadweight in H1 2026, up 173% year-on-year.
Supply Chain Maritime’s durability is its digitalization trap, ABS Wavesight CEO warns shippers
ABS Wavesight CEO Steve Bomgardner argues that maritime’s centuries-old conservatism is now the industry’s biggest obstacle to digital transformation. He warns that shipping evaluates software on a hardware lifecycle, underestimates AI’s value, and lets return uncertainty block modest SaaS investments.
Logistics Sinokor's $6bn Tanker Bet Pays Off as Hormuz Crisis Fuels VLCC Buying Spree
Sinokor Maritime has acquired 73 secondhand tankers for $5.925bn in 2026, matching the combined spend of the next eight largest buyers. With MSC taking 50% joint control and Hormuz disruptions pushing VLCC earnings toward $510,000 a day, the buying spree has lifted asset prices to 2008 levels.
Logistics Panama Canal Rations Capacity, Trims Draft as Red Dots Warn of El Niño Drought
The Panama Canal is rationing daily booking capacity and cutting maximum neopanamax draft ahead of an expected El Niño-driven drought, with Gatun Lake levels projected to keep falling through October. MSC introduced a $100 per TEU surcharge on Asia–US East/Gulf coast cargo, while CMA CGM raised canal-related charges, according to Splash247.
Trade India's Tanker Exports Surge Over Six-Fold to USD 1.36 Billion in Q1 FY27; UAE Leads
India's tanker exports grew more than six-fold to USD 1.36 billion in Q1 FY27 (April-June 2026-27), with the UAE emerging as the top destination. Export volumes rose from 10 to 23 vessels, and new markets including Egypt, South Africa, and Vietnam received first-time shipments.
Logistics Seacon Shipping refinances chemical tanker quartet in $103.4m sale-and-leaseback switch
Seacon Shipping is refinancing four 18,500 dwt chemical tankers in a $103.4m sale-and-leaseback switch that cuts financing margins by 50 to 65 basis points, according to Splash247. The Qingdao-based, Hong Kong-listed owner is moving three vessels to Guangzhou Yuexiu Financial Leasing and one to Tianjin Maxwealth Changyang No.4 Leasing, replacing AVIC-backed leases from 2024. The deal is expected to close by the end of August.
Logistics Seafarer Killed in Latest Strait of Hormuz Strike as Iran Claims Detention of UAE Tanker
A seafarer was killed in the latest attack on merchant shipping in the Strait of Hormuz, and Iran is claiming to have detained a UAE-owned tanker for failing to comply with its new transit regime, according to Splash247. The 76,801 dwt bulker Minoan Dignity was struck off Oman, while the 60-day US-Iran memorandum has expired without a diplomatic breakthrough.
Logistics Cameroon-Flagged Ship Lutuf Hijacked Off Somalia as Piracy Threat Returns
Somali pirates hijacked the Cameroon-flagged general cargo ship Lutuf off the coast of Somalia, according to Splash247. Eight armed men boarded the 1995-built vessel and the crew's condition remains unconfirmed. Four vessels and 44 seafarers are currently held amid a renewed piracy wave in the western Indian Ocean.
Logistics Sonangol offloads 19-year-old suezmax Sonangol Namibe for nearly $50m
Sonangol has sold the 19-year-old suezmax tanker Sonangol Namibe for just under $50m, according to Splash247. The deal highlights continued strength in secondhand crude carrier values and follows CMB.Tech's record sale of the modern suezmax Bristol.
Logistics Cetus Maritime's Tabitha Logan: Shipping must move beyond AI buzzwords at Splash Singapore
Cetus Maritime's Tabitha Logan will tell Splash Singapore that shipping must move beyond AI hype toward practical execution and human trust. She argues AI should reduce crew burden, not add screens, and calls for universal data standards and watertight cyber security.
Logistics Marine Solver CEO: Undiscovered Voyage Alternatives Are Shipping's Hidden Cost
Marine Solver CEO Natalia Liashenko argues that the biggest cost in commercial fleet planning is the voyage alternative that is never calculated. She identifies four hidden cost types — undiscovered opportunity cost, time-to-decision cost, path-dependency cost and the optimisation ceiling — and explains how decision optimisation technology can surface better options before market conditions change.
Logistics New study: Hormuz just one of many shipping chokepoints, Oxford Economics finds
An Oxford Economics study reported by FreightWaves warns that the Strait of Hormuz is only one of many maritime chokepoints that can disrupt global trade. Geopolitical leverage and climate events — from Houthi attacks in the Red Sea to Panama Canal draft cuts — are raising costs and forcing carriers to adjust vessel rotations. Nearly a quarter of global trade passes through the Malacca and Taiwan straits, amplifying systemwide risk.
Logistics Sanctioned Tankers Dominate 58% of 2026 Scrapping as Demolition Stays at Historic Lows
According to Clarksons Research, sanctioned tankers account for 58% of all reported tanker demolition sales so far in 2026, even as overall ship recycling remains near historic lows. The data highlights a structural shift in scrapping, with shadow fleet tonnage being permanently removed from circulation.
Logistics Diana Shipping withdraws Genco takeover after board rejects terms
Greece's Diana Shipping has withdrawn its takeover offer for Genco Shipping & Trading after the US bulker's board set terms Diana valued at about $36.91 per share, ending a nine-month battle. Diana's CEO called the demands "outrageous," but the company remains Genco's largest shareholder with more than 14% of stock.
Logistics Maritime rates back on the rise as supply-side pressures lift China-U.S. spot freight rates
Spot rates for containers from China to U.S. East and West Coasts are climbing again, up $1,328 on the West Coast and roughly $413 on the East Coast since late July. FreightWaves reports the rise is supply-driven, with China-to-U.S. bookings down 4% year over year, while storms and congestion hit Shanghai, Ningbo and Shenzhen. The Panama Canal Authority has issued draft restrictions into September as El Niño brings drought-like conditions.
Logistics Splash Wrap: War, drought and broken infrastructure force shipping into the detour economy
Splash247's Splash Wrap documents how conflict, drought and failing infrastructure are rerouting global shipping. Ukrainian grain exports are down 76% year-on-year, DP World is losing about $100m monthly at Jebel Ali, and the Rhine is close to being cut in two at Kaub.
Logistics Four-Year-Old Capesize Fetches $78m in Rare Doun Kisen Sale
Doun Kisen has sold the 2022-built capesize bulk carrier Princess Eternity for around $78m, marking its first capesize sale in a year. The deal comes as average capesize spot earnings jumped just under 40% week on week to about $46,000 per day, according to Splash247.
Logistics Rhine crisis prompts HGK to call for €12.5bn European shallow-water fleet build
German inland shipping group HGK is calling for a government-backed €12.5bn programme to build 1,000 shallow-water-capable vessels across Europe by 2035, according to Splash247. The push comes as Rhine water levels at the Kaub gauge fall to 16 cm, limiting cargo capacity. HGK warns that about 80% of dry cargo tonnage was built in the last century, with only 13 new dry cargo ships and 38 tankers added in 2024.
Logistics Golar LNG orders fourth FLNG unit at CIMC Raffles as it exits LNG carrier shipping
Golar LNG has ordered a fourth MKII FLNG from CIMC Raffles for about $2.45bn, lifting its controlled liquefaction capacity 41% to more than 12 mtpa. The unit is due by end-2029, following a first MKII unit that starts a 20-year charter with Southern Energy off Argentina in 2028. Golar also sold its last LNG carrier in early 2025, exiting LNG shipping after 50 years.
Finance Leading P&I Clubs Cancel Red Sea War-Risk Cover Across Indian Ocean
Several leading P&I clubs, including NorthStandard and UK P&I Club, have issued notices cancelling certain war-risk covers across the Red Sea, Gulf of Aden and western Indian Ocean, effective August 16. The coordinated move follows actions by commercial reinsurers and reflects a deteriorating underwriting assessment of the region, Splash247 reported.
Logistics Pricing Maritime Emissions Could Accelerate Cleaner Shipping Without Consumer Shock, CTI Consultancy Argues
Andy Lane of CTI Consultancy argues that putting a meaningful price on maritime emissions could accelerate the switch to lower-GHG fuels without triggering consumer shock. The Splash247 analysis cites record ocean temperatures, shipping's 11% share of transport emissions, and 26 years of IMO measures as context for the debate over EEXI enforcement and decarbonisation costs.
Logistics Regional Container Lines Boxship Runs Aground Near Kolkata After Steering Failure
A Singapore-flagged containership owned by Regional Container Lines ran aground on the Hooghly River near Kolkata after a steering failure, according to Splash247. The vessel was refloated at high tide with no injuries reported, though part of the riverbank was damaged.
Logistics UAE's Adnoc offers shuttle service for Iraqi oil exports through Strait of Hormuz
According to Bloomberg, Adnoc is offering to shuttle Iraqi oil exports through the Strait of Hormuz using dark-transit tactics. Iraq's SOMO has cut Basrah Medium prices by $25–$27 a barrel for Hormuz-bound volumes, while exports jumped to about 2 million bpd this month.
Logistics Baltic Exchange appoints Marcura executive Sigrid Teig as deputy CEO
The Baltic Exchange has appointed Sigrid Teig, formerly of Marcura and Western Bulk, as deputy chief executive. The move comes during a leadership transition at the SGX-owned freight market benchmark provider, with CEO Mark Jackson taking on a broader strategic remit.
Logistics AXSMarine CEO: AI Anchored to Trusted Shipping Data, Not Blockchain, Will Change Decisions
AXSMarine CEO Jacques Goudchaux says AI anchored to trustworthy maritime data will change shipping decision-making, while blockchain has been the industry's most overhyped technology. Following Signal Ocean's January acquisition of AXSMarine, he sees the biggest returns coming from port intelligence, voyage optimisation and better data quality — not from collecting more data.
Logistics Trump Extends Jones Act Waiver Another 90 Days; Analysts See 'Pennies per Gallon'
President Trump extended the Jones Act waiver for another 90 days, allowing international vessels to move gas, fertilizer and other commodities between U.S. ports. Analysts say the direct effect on retail fuel prices is pennies per gallon, limited by high tanker rates, even as 54 million barrels of energy products moved under the exemption since March. The waiver adds Gulf-to-West Coast flexibility and new propane flows to Puerto Rico but remains a temporary 'band-aid,' according to Cato Institute analysts.
Logistics MSC Shipmanagement Fined $6m Over Concealed Engine Fault in Charleston Runaway
MSC Shipmanagement has been fined $6 million and placed on four years' probation after admitting to concealing a hazardous engine-control problem aboard the MSC Michigan VII and obstructing the US investigation into the vessel's June 2024 runaway transit through Charleston Harbor. The Cyprus-based operator must also conduct a root-cause analysis, while the NTSB's probable-cause investigation remains open.
Trade Trump extends Jones Act waiver for 90 days despite mounting maritime opposition
US President Donald Trump has extended for another 90 days the unprecedented waiver allowing foreign-flagged ships to move oil and other commodities between American ports, despite fierce opposition from the domestic maritime industry. The extension takes effect August 17 and now requires individual voyage review by the Pentagon and the Maritime Administration, focusing on energy and agricultural commodities.
Logistics d'Amico International Shipping reclaims MR tanker High Discovery from lease for $15.3m
d'Amico International Shipping is exercising a $15.3m purchase option on the MR tanker High Discovery, bringing it back into full ownership from a 2022 sale-and-leaseback deal. The transfer to d'Amico Tankers is expected in early November, reducing the company's bareboat-chartered fleet from two vessels to one while owned tonnage rises to 27. CEO Carlos di Mottola said the purchase will further reduce financial leverage and cash breakeven.
Logistics US Sends Seized Shadow Fleet Tankers to Scrap as GMS Wins Recycling Licences
The US has started sending seized shadow fleet tankers to scrap yards, permanently removing them from circulation. GMS won US Treasury licences to recycle four sanctioned ships, and estimates it could remove over 100 shadow tankers a year if a licensing regime develops.
Logistics El Niño puts Pacific and Indian Ocean ports on alert
A new Sofar Ocean study warns the strengthening 2026 El Niño will rewrite port operating assumptions, with Pacific-facing ports in the Americas exposed to surge and flooding and Asian and East African terminals facing lost draft, flooding, and dredging disruption. NOAA expects the event to peak between October and December, with a 97% chance it persists into early spring 2027.
Uni-Asia orders second Japanese handysize bulker from Imabari, doubling newbuild programme
Singapore-listed Uni-Asia Group has ordered a second 40,000 dwt handysize bulk carrier from Imabari Shipbuilding in Japan, doubling its handysize newbuild programme. The vessel, contracted through Nihon Shipyard and an affiliate, is scheduled for delivery between Q4 2029 and H1 2030, featuring a fuel-efficient dual-fuel-ready design.
Regulations & Compliance What’s wrong with FuelEU: Six flaws in the EU maritime fuel rule
FuelEU Maritime, Regulation (EU) 2023/1805, requires annual cuts in the greenhouse gas intensity of ship fuels. A Splash247 analysis by Captain Alex Byelyavtsev identifies six structural problems: collective compliance, unready fuel supply, the burden on fuel users, a steep target trajectory, capital constraints, and the placement of duty on vessels rather than system improvements. Shipping faces the rule alongside the EU ETS.
Logistics Brookfield Takes Indirect Control of 19.86% Torm Stake After Oaktree Buyout
Brookfield Corporation has taken indirect control of a 19.86% stake in Torm after completing its acquisition of the remaining 26% of Oaktree. The change occurs above Oaktree-linked vehicle OCM Njord Holdings, with its direct stake unchanged. Torm continues expanding, with the fleet set to reach 103 ships and a reported MR newbuilding order at Zhoushan Changhong unconfirmed.
Logistics Castor Maritime Shifts Kamsarmax into Fearnley-Backed JV, Banks $18.75m
Castor Maritime has delivered its 2015-built kamsarmax Magic Starlight into a joint venture arranged by Fearnley Securities, taking $18.75m in cash and keeping a 30% stake. The deal closed this month with an $11.5m sustainability-linked loan. Castor expects a $2.9m Q3 net gain and now operates a fleet of 11 vessels.
Logistics South Korea moves to build one of Asia's largest ship recycling hubs
South Korea's Elegant Exit Company, RM Company, and ISSAC Green Tech have signed an MoU for a large-scale ship dismantling hub, according to Splash247. Japan's NYK and Oono Development are targeting a 2028 recycling startup at Chita. The moves follow the Hong Kong Convention entering into force in June 2025 and South Korea's accession last December.
Finance Sompo Japan launches first GPS jamming insurance cover for shipping economic losses
Sompo Japan introduced the shipping industry's first insurance coverage for economic losses caused by radio interference with ship navigation systems, according to Splash247. Available from this month, the cover compensates owners when GPS or GNSS disruption halts operations without physical damage, addressing a growing gap in marine insurance as jamming incidents rise.
Logistics Yangzijiang Maritime bulker quartet lifts contracted vessel sales to $500m
Yangzijiang Maritime Development agreed to sell four newbuild bulkers, lifting contracted vessel sales to $500m across 12 ships in nine months. The 40,000 dwt quartet is due between April 2027 and May 2028; buyer and price were not disclosed. The deal follows two MR tanker disposal rounds and adds to revenue expected across 2026-2028.