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Logistics Jinhui Secures $36M via Leaseback for Two Ultramax Newbuilds, Advancing Fleet Renewal
Jinhui Shipping and Transportation has arranged up to $36 million in sale-and-leaseback financing for two new ultramax bulk carriers building in China. The vessels, scheduled for delivery in early 2028, will be leased back for up to five years, supporting the company's fleet renewal programme and retention of operational control.
Logistics Houthis Keep Up Pressure on Saudi Shipping with Fourth Tanker Attack Amid Partial Red Sea Recovery
Yemen's Houthis attacked the 49,990 dwt tanker NCC Ghazal, the fourth Saudi-linked vessel targeted since declaring a blockade. Despite a partial recovery in traffic through Bab el-Mandeb, crossings remain volatile with no VLCCs or LNG carriers. The Joint Maritime Information Center has raised the threat level to substantial.
Commodities Romania Maps Out 11.5GW Offshore Wind Pipeline in Black Sea Draft Decision
Romania has published a draft decision identifying 11 offshore wind concession areas in the Black Sea, with a combined potential capacity of 11.5GW. The plan is divided into three phases, including fixed-bottom and floating wind sites. The government estimates the sector could add €16bn to €27bn to the economy, and feedback is due by July 31.
Logistics China Smashes Ship-Order Record in First Half, Tightening Grip on Global Market
Chinese shipyards booked 121.06 million deadweight tonnes (dwt) of new orders in the first half of 2026, surpassing any previous full-year total and representing 82.3% of global ordering. Shipbuilding output rose 51.2% to 36.5m dwt, and the orderbook reached 363.25m dwt, up 54.9% year-on-year. Chinese builders also secured over 80% of global orders for bulk carriers, containerships, and tankers, and maintained a >68% share of green vessel orders.
Logistics Failed Containership Cocaine Drop in English Channel Leads to 11 Convictions
Eleven people have been convicted for a failed attempt to retrieve 500 kg of cocaine dropped from an unidentified containership into the English Channel. In a separate incident, Border Force officers seized 240 kg of cocaine hidden in banana crates aboard the reefer ship Atlantic Klipper at Portsmouth Docks.
Logistics Splash Ports Launches as Dedicated Vertical for Global Ports and Terminals Intelligence
Splash Ports, a new dedicated vertical from Splash247, launches today to provide daily reporting, analysis, and intelligence on the ports and terminals sector globally. The publication covers container, bulk, and energy operations, infrastructure, investment, technology, and policy, aiming to become an essential resource for industry executives.
Logistics Deadly Black Sea Attacks on Grain Carrier and Other Vessels Disrupt Commercial Shipping
The Black Sea saw one of its most violent weekends of the war, with Russian cruise missiles hitting the Turkish-owned grain carrier Golden Leo and Ukrainian drone strikes targeting Russian-linked ships. Casualties include six dead on the Golden Leo and one on the Venturo, while Ukraine claimed to have hit 12 Russian vessels. The attacks raise war risk and disrupt commercial shipping routes.
Logistics Erasmus Shipinvest Stacks Up Boxship Orders with Fresh Feeder Deal at Huangpu Wenchong
Athens-based Erasmus Shipinvest has signed a contract with CSSC Huangpu Wenchong Shipbuilding for two firm 1,900 teu feeder containerships, with options for two more. The order is the third newbuilding deal between Erasmus and the yard this year, adding to the 30 vessels already delivered and 44 on order from the Swan feeder design series. Financial terms and delivery dates have not been disclosed.
Logistics Taylor Maritime to Delist After Selling Fleet and Returning $362M to Shareholders
Taylor Maritime, the London-listed bulker owner, will cease trading after completing the sale of its remaining assets and returning proceeds to shareholders. The company has sold 51 vessels since 2023, generating $839.2 million, and plans to return most remaining proceeds by year-end. Its fleet is now down to five Japanese-built bulkers on time charter.
Logistics MPC Capital to Rebrand as MPC Oceanic Group Following Shareholder Vote in August
MPC Capital, the Hamburg-listed investment and operating group, will rebrand as MPC Oceanic Group subject to shareholder approval on August 28. The new name reflects the company's evolution from a traditional investment manager into a broader maritime and energy group spanning investment, vessel operations, and services, with a platform supporting around 500 vessels.
Commodities Noble Corporation Wins $136M Drillship Contract for Offshore Brunei Operations
Offshore drilling contractor Noble Corporation has won a $136.2 million contract to deploy the 2014-built drillship Noble Viking for an undisclosed customer in Brunei. The firm scope covers six wells with options for three more, beginning in early 2028 for approximately 296 days. The Noble Viking is currently finishing a campaign in Papua New Guinea, followed by another in Malaysia.
Logistics Greek interests sell ultramax bulker to Bangladesh's Meghna Group for $36.5m, pocketing $6.7m profit
Greek shipping interests have sold the 63,547 dwt ultramax bulker WF Artemis to Bangladesh's Meghna Group for $36.5m, netting a $6.7m profit. The vessel, built in 2020 by Iwagi Zosen, was acquired for $29.8m a year ago. The deal highlights strong demand in the ultramax secondhand market and Meghna's ongoing fleet expansion to 15 ships.
Logistics How Not to Become a Shipowner: A Cautionary Tale of Funding, Trust, and Momentum in Shipping Deals
A failed attempt to build a shipping company, orchestrated by a Geneva commodity trader and a broker, reveals classic pitfalls: funding never materialised, due diligence was overridden by momentum, and no one was willing to stop. The vessel quietly sailed away, leaving only lessons.
Logistics Why Container Shipping's Resilience Strategy Misses the System-Level Problem
Container shipping is missing approximately 1.8m TEU of capacity due to delays, according to Sea-Intelligence. Schedule reliability has fallen to 50-65% from 70-80% pre-pandemic. While individual carriers have improved earnings resilience, the overall network remains fragile, relying on a few mega-hubs. Experts warn that 'shifting baselines' normalize decline, and the sector must expand resilience beyond individual companies.
Commodities Equinor Awards $600M in Subsea Contracts to Accelerate Norwegian Continental Shelf Development
Norwegian energy giant Equinor has awarded contracts worth around $612 million for four subsea projects as part of the first of several planned development waves. The projects—Brime, Omega Sør, Tyrihans Nord, and TWIN—will contribute between 130 and 220 million barrels of oil equivalent to future production. Key contractors include TechnipFMC, OneSubsea, Ocean Installer, Tenaris, and NOV. Equinor aims to halve costs and execution time through standardisation.
Logistics Bahri Logistics Orders Two Advanced Offshore Support Vessels from Grandweld Shipyard for Ras Tanura Operations
Bahri Logistics, a unit of Saudi shipowner Bahri, has signed a newbuild agreement with Grandweld Shipyard to construct two advanced offshore service vessels. The custom-built vessels will support operations at Ras Tanura Port and align with Bahri's fleet modernization strategy.
Logistics EGPN enters containership market with feeder order at Huangpu Wenchong for two 1,900 TEU vessels
Hong Kong-based owner EGPN has entered the container shipping newbuilding market with an order for two 1,900 TEU feeder vessels at CSSC Huangpu Wenchong Shipbuilding, scheduled for delivery in 2029. The move adds another segment to EGPN's fleet expansion, which has already covered bulkers, product tankers, and chemical tankers. The yard's Swan design continues to attract newcomers and established operators alike.
Logistics Strait of Hormuz Tensions, CMA CGM-FedEx Deal, and AP Moller Acquisition Top Shipping News
Commercial shipping through the Strait of Hormuz is moving again but remains uncertain. CMA CGM agreed to acquire FedEx Supply Chain for $1.4 billion, while AP Moller Holding is acquiring Ocean Yield from KKR. Hafnia announced a CEO change, and Eni and Mercuria formed a 50:50 energy trading joint venture.
Logistics Pirates Board and Damage Tanker in Gulf of Aden, Crew Safe, UKMTO Warns of Persistent Threat
A tanker was boarded by armed pirates 76 nautical miles south of Balhaf, Yemen, in the Gulf of Aden. The crew retreated to the citadel and were safe, but the bridge and compartments were damaged. The UKMTO had raised its threat assessment to 'severe' in late April, and a second suspicious approach occurred hours later. Shipping operators are urged to maintain heightened vigilance and register with UKMTO.
Logistics Diana Shipping Extends Hostile Tender for Genco, Intensifying Dry Bulk Consolidation Battle
Diana Shipping has extended its hostile tender offer for Genco Shipping & Trading to July 18, maintaining pressure in one of dry bulk's most closely watched takeover battles. The offer, valued at $27.34 per share, is backed by a $1.433bn financing package, with Star Bulk Carriers poised to acquire 16 Genco vessels for $470.5m if the deal proceeds. As of June 26, about 10.5m Genco shares (28.4% of outstanding) had been tendered.
Logistics Enclosed Space Deaths Persist; Engineering Solutions Needed Beyond Paperwork, MarinePALS Expert Says
Despite decades of procedures, enclosed space fatalities continue in shipping. MarinePALS' Pradeep Chawla argues that the IMO's revised MSC circular, while welcome, is insufficient without engineering solutions that prevent unsafe entry before human error occurs.
Logistics CMA CGM and Asyad Group Sign $400m Multipurpose Terminal Deal in Oman's Sohar Port
Oman's Asyad Group and French liner CMA CGM have signed a framework agreement to develop and operate a new multipurpose logistics terminal in Sohar, with an expected investment of around $400m. The project aims to strengthen Oman's position in regional and international trade corridors, adding integrated logistics and cargo handling capacity.
Logistics IMO Backs Mineralisation Pathway for Onboard Carbon Capture Systems
The International Maritime Organization has given in-principle support to recognising carbon mineralisation as a form of permanent carbon storage for shipping. The proposal, led by Shanghai Qiyao Technology Group, could enable onboard carbon capture and storage (OCCS) systems and has already been demonstrated on a 14,000 TEU containership.
Logistics Dorian LPG Orders $115M VLGC Newbuild, Sells Three Older Tankers as Rates Surge
New York-listed VLGC owner Dorian LPG has ordered one 90,000 cu m dual-fuel VLGC at HD Hyundai for about $115m, scheduled for July 2029 delivery, while selling three older VLGCs for combined proceeds of $256m. The fleet moves come as VLGC earnings surge, with the company fixing 99% of its available days for the quarter ending June 30 at over $68,000 per day and 34% of July days at over $100,000 per day.
Commodities Venezuelan Crude Exports More Than Double Amid US Licence Restoration and Strong Tanker Demand
Venezuela's seaborne crude exports have more than doubled in 2026, rising from 620,000 bpd in January to 1.5m bpd by mid-June, following US licence reinstatements. The US is the top destination, accounting for 44.7% of exports, while aframaxes dominate tanker liftings at 38%. Vitol and Trafigura are marketing cargoes, and SLB has signed a long-term agreement with PDVSA.
Logistics Ardmore Shipping Exercises Options for Two More Product Tankers at Wuhu Shipyard
Ireland-based product tanker owner Ardmore Shipping has expanded its newbuilding programme in China by exercising options for two additional 40,500 dwt product and chemical carriers at Wuhu Shipyard. The move brings its orderbook at the Chinese yard to four vessels, with deliveries scheduled from late 2028, and the company has secured two further options for future expansion.
Logistics Norway backs new generation of hydrogen-fuelled bulkers with $36m Enova grant
Norwegian developer LH2 Shipping has secured NOK344.3m ($36m) from Enova to build two additional liquid hydrogen-powered bulk carriers, expanding its project pipeline to six vessels and bringing total public support above NOK800m ($74m). The 7,700 dwt shortsea bulkers will operate primarily on liquid hydrogen, with bunkering via Gen2 Energy in Mosjøen, and are designed to consume 30% less energy than conventional ships. Deployment is planned for trades between Norway, continental Europe, and the Baltic region.
Logistics MSC denies report of Hapag-Lloyd acquisition talks; carrier says claim 'not true or correct'
Mediterranean Shipping Co (MSC) has denied a report from Manager Magazin that it is looking to acquire a stake in Hapag-Lloyd. A combination of the two lines would reshape the liner landscape and affect Maersk's strategic alliance. MSC already has strong ties to Hamburg through its stake in port operator HHLA.
Commodities ExxonMobil Proposes 35-Well Exploration Campaign Offshore Guyana in Stabroek Block
US supermajor ExxonMobil has proposed a new exploration and appraisal drilling campaign in the Stabroek block offshore Guyana, involving 35 wells across four prospect areas. The campaign is scheduled from 2028 to 2033, with a 28-day public consultation period opened by the Guyana Environmental Protection Agency. ExxonMobil currently produces 900,000 barrels per day in Guyana and plans to increase capacity to 1.7 million bpd by 2030.
Logistics DP World Eyes Return to US Port Operations With Corpus Christi Terminal Talks
DP World has entered exclusive negotiations to develop and operate a new container terminal at the Port of Corpus Christi, Texas, signalling a potential return to US port operations two decades after a political controversy forced it to sell its American assets. The move, confirmed by DP World Americas CEO Brian Enright, comes as the port diversifies beyond traditional energy and agricultural cargoes. Separately, DP World is also reportedly interested in Maher Terminals at the Port of New York and New Jersey.
Logistics Shearwater Geoservices Secures $40M Capital Injection in Debt Restructuring Deal
Norwegian offshore seismic vessel player Shearwater Geoservices has reached an agreement with lenders and stakeholders to amend its capital structure. The deal includes a $40m capital injection, debt repayment extensions, and relaxed covenant terms, materially improving the company's liquidity outlook and financial flexibility.
Commodities Caspian Offshore Construction expands fleet with newbuild AHTS
Kazakhstan-based offshore marine service provider Caspian Offshore Construction (COC) has acquired a new anchor handling tug supply (AHTS) vessel, the Caspian Yili, from Sinopacific Engineering & Contracting. The vessel, featuring 90 tonnes of bollard pull and DP2 capability, is the company's largest and is expected to join the fleet in Q4 2026. The acquisition supports COC's strategy to expand in international offshore markets.
Logistics Diana Shipping Scales Back Genco Campaign Ahead of Crunch Shareholder Vote
Diana Shipping has withdrawn four of its six director nominees for Genco Shipping & Trading's board election, leaving only Jens Ismar and Paul Cornell. The move comes after all three major proxy advisory firms recommended shareholders support Genco's slate. The outcome of the June 18 vote could determine the future of Diana's tender offer for Genco.
Technology PXGEO Partners with Equinor for Autonomous Subsea Trials
PXGEO has entered a one-year agreement with Equinor to conduct autonomous subsea inspection trials using the Saab Sabertooth. This marks PXGEO's first venture into unmanned operations, with initial tests set to take place in Norway.
Logistics Greek Capesize Owner NGM Flips Vintage Bulker for $17.4M in Firm Market
Greek capesize owner NGM sold the 2003-built vessel Charm to Chinese interests for around $17.4 million, more than $7 million above its purchase price in 2020. The sale is part of an accelerating shake-out of Greek capesize owners cashing in on historically firm asset values. Several other vintage capesize bulkers have changed hands recently.
Business Balaena Expands UK Shipbuilding with APCL Acquisition
Balaena has acquired APCL Group, enhancing its shipbuilding and repair capabilities in the UK. This strategic move consolidates key shipyards and supports future maritime investments.
Logistics Huaxia Financial Leasing Seeks Yard Slots for Six Newcastlemaxes
Huaxia Financial Leasing is seeking yard slots for six newcastlemax bulk carriers, marking a significant expansion in the dry bulk sector. The Beijing-based company has launched a tender for vessels with a price cap of $79.5 million each.
Logistics Samsung Heavy Secures $2.9bn Contract for US FLNG Project
Samsung Heavy Industries has signed a $2.9 billion contract to construct the Delfin FLNG Unit 1, the first floating liquefied natural gas unit in the United States. The project, involving Mitsui O.S.K. Lines and Delfin Midstream, is set to begin production in 2030.
Technology ELNAV.AI Advocates AI for Safety, Not Surveillance in Shipping
ELNAV.AI, led by Hrvoje Mihovilović, focuses on integrating AI into shipping to enhance safety and operational efficiency. The company advocates for AI systems that support human operators rather than replace them, emphasizing the importance of practical applications over autonomous ambitions.
Commodities UK Seeks Developer for 1.5GW Offshore Wind Project
The UK Crown Estate is launching a tender to find a new developer for the Morgan offshore wind site in the Irish Sea, capable of generating 1.5GW. The previous developers, EnBW and JERA Nex BP, exited the project earlier this year.
Logistics TGS Wins European Offshore Wind Site Characterisation Contract
TGS has secured a contract for offshore wind site characterisation in Europe, set to begin in August. The project will utilize TGS's Ultra High Resolution 3D streamer technology for detailed subsurface imaging.
Logistics Cargo Giants Support Splash Singapore's Inaugural Event
Splash Singapore's debut event attracts major cargo interests, including Rio Tinto and Vale, aiming to become a key Asian shipping conference. The event will feature discussions on global shipping demand drivers.
Trade Velesto secures offshore drilling contract in Thailand
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Business Shipping Industry Faces Geopolitical Risks Amid Strong Markets
Leading shipowners and investors at the TradeWinds Shipowners Forum discuss the resilience and strategic decisions required in today's strong yet risky markets. Executives from Mitsui OSK Lines, Safe Bulkers, and JP Morgan Asset Management highlight the impact of geopolitical events on shipping operations and investment strategies.
Logistics SBM and Solstad's New Deepwater Vessel Order
SBM Offshore and Solstad Offshore have ordered a new deepwater construction vessel, set for delivery in 2029. This vessel will enhance their capabilities in ocean infrastructure installation.
Commodities Fugro Secures Irish Offshore Wind Monitoring Contract
Dutch surveyor Fugro has won a two-year contract with EirGrid to monitor marine mammals along Ireland's south coast, supporting the development of offshore wind energy infrastructure.
Business Eldorado Drilling Acquires Vantage Drilling for $257 Million
Eldorado Drilling is set to acquire Vantage Drilling for $257 million, marking a strategic expansion in the offshore drilling sector. The merger, funded by Eldorado's principal shareholder, aims to enhance operational capabilities and customer solutions.