Topic
Tankers Lng
Logistics Transponders Off: Saudi Crude Tankers for India Exit Red Sea 'Dark' to Avoid Houthi Blockade
Two oil tankers carrying Saudi crude to Indian refiners—the Suezmax Amazon and Aframax Rodos—switched off their Automatic Identification System (AIS) transponders to safely exit the Red Sea via the Bab el-Mandeb Strait, after Houthi rebels announced a blockade on Saudi shipments. The vessels, managed by Dynacom Tankers, changed course southward on July 22 and are now heading to India, with Rodos due at Mangalore on August 1 and Amazon expected in Chennai in early August. This is the first known instance of 'dark' sailing for Saudi crude tankers to India since the blockade began.
Logistics Scorpio Tankers Takes Minority Stake in Eight VLCC Newbuilds and Orders Two LR2s
Scorpio Tankers has taken a minority stake in an eight-vessel VLCC newbuilding venture and signed a letter of intent for two LR2 product tankers at Jiangsu Hantong Ship Heavy Industry. The company also completed MR newbuilding agreements at Jiangsu Yangzi-Mitsui. The moves expand Scorpio's directly controlled newbuilding programme to 14 ships, with exposure to additional eight VLCCs through the joint venture. Net income surged to $387.5 million in the second quarter.
Logistics Vafias-backed Stealth Maritime Orders Two More MR Tankers from HD Hyundai, Extending $1.3bn South Korea Newbuilding Drive
Harry Vafias-backed Stealth Maritime has ordered two additional 50,000 dwt MR product tankers at HD Hyundai Heavy Industries for $53m each, extending a South Korean newbuilding drive valued at around $1.3bn. The company now has at least 15 tankers under construction at South Korean yards across MR, LR2, suezmax and VLCC segments, with deliveries stretching through 2030.
Logistics GTT Projects 550 New LNG Carriers Needed by 2035, Signaling Fleet Expansion
GTT expects around 550 LNG carriers to be ordered between 2026 and 2035, adding to the current record orderbook of 338 ships. The forecast is driven by 37m tonnes per annum of new liquefaction capacity reaching FID this year and a projected 5% annual LNG demand growth, primarily from Asia. Shipyard capacity is expanding to meet demand, with Korean and Chinese yards expected to exceed 100 annual slots by 2028.
Logistics Drone strike hits FSRU and LNG carrier at Egypt's Damietta terminal, extending maritime conflict into Mediterranean
A drone strike at Egypt's Damietta terminal hit the floating storage and regasification unit Energos Winter and the LNG carrier GasLog Salem, causing fires that were extinguished. The incident, which occurred far from previous conflict zones near the Strait of Hormuz and southern Red Sea, represents a significant escalation in maritime attacks and may force logistics operators to reassess risk in the Mediterranean.
Logistics Top Ships Redirects Dubai Refund into Three MR Tanker Newbuildings, Orderbook Reaches 10
Top Ships has redirected funds from a cancelled Dubai property deal into three MR tanker newbuildings, increasing its orderbook to ten vessels. The company will pay about $7.4m after deducting the $23.5m refund. The vessels have secured five-year charters with an unnamed oil major, with potential gross revenue of $140.6m.
Logistics South Africa's Prince Edward Graving Dock Sees Major Upgrade with Troy Docking, Boosting Ship Repair Options
Transnet National Ports Authority docked the crude oil tanker Troy at Durban's Prince Edward Graving Dock, demonstrating enhanced capacity after a R200m ($12m) upgrade. The vessel, one of the longest to use the facility, will undergo 10 days of repairs, supporting local employment and reinforcing Durban's position as a key ship repair destination in Africa, with increased traffic due to the Red Sea crisis.
Logistics BGN Launches US Gulf Bunkering Arm, Expanding into Direct Physical Supply of Marine Fuels
BGN has launched its first US retail bunkering operation, supplying conventional marine fuels from Houston across the Gulf Coast. The new business will serve the company's own LPG fleet and third-party customers, supported by a partnership with Centerline Logistics and two chartered barges. The move expands BGN beyond wholesale fuel trading into direct physical supply, while the company continues to grow its LPG and LNG shipping footprint.
Logistics Indian Oil to Acquire 50% Stake in VLGCs as US LPG Imports Surge
Indian Oil Corporation plans to acquire a 50% stake in very large gas carriers (VLGCs) as it prepares to increase LPG imports from the United States. The move responds to a sharp rise in US LPG purchases—volumes in June were 145% higher than February—while Middle Eastern supplies decline. The tender targets vessels of 80,000-93,500 cubic metres, with bids due September 7.
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.
Logistics Resumed US-Iran Attacks Inject Fresh Uncertainty Into Strait of Hormuz Shipping
Iran and the United States have resumed military attacks, ending a lull and injecting fresh uncertainty into shipping through the Strait of Hormuz. Iran's Revolutionary Guard claims it hit three oil tankers after they ignored warnings, while a US blockade since July 14 and mine risk make internationally recognised lanes unusable. A Gulf-backed Omani proposal for joint management faces Iranian rejection.
Logistics Ditaş Orders Two Suezmax Tankers at DH Shipbuilding in $196M Deal
Turkish tanker owner Ditaş has been linked to an order for two 157,000 dwt suezmaxes at South Korea's DH Shipbuilding, valued at KRW271.3bn ($196m). This marks Ditaş's first suezmax order in about a decade and would double its suezmax fleet to four vessels. DH Shipbuilding's 2026 order intake reaches a record 17 ships.
Logistics Shandong Port's Sealand Equipment Group Breaks Into Chemical Tanker Construction with First Order
Sealand Equipment Group, the shipbuilding arm of Shandong Port, has entered the chemical tanker segment with its first order: a 10,000 dwt vessel capable of carrying IMO II and III cargoes. The contract with an unnamed European customer marks a strategic shift from multipurpose and heavylift tonnage. The newbuilding, built in partnership with Tongling Port and Shipping, features a shaft-generator DC bus with battery storage for flexible power management.
Logistics UK Trade Body Urges Government to Approve Rosebank and Jackdaw Energy Projects
Offshore Energies UK (OEUK) has urged the UK government to approve the Rosebank and Jackdaw offshore energy projects, arguing delays threaten domestic supply and investor confidence. The combined £10.8bn projects could deliver 10% of UK gas and oil output, supporting thousands of jobs. OEUK warns that reliance on imports increases carbon footprint by up to four times.
Logistics Cheap Drones Expand Maritime Risk: Caspian Now a War Zone for Shipping
A weekend Ukrainian drone strike on an Iranian cargo vessel in the Caspian Sea has removed the assumption that the inland sea was immune from attack. The incident directly links the Ukraine and Middle East conflicts, forcing insurers to add the Caspian to their watchlist alongside the Red Sea, Black Sea, and Strait of Hormuz. Rerouting options are now limited, with no maritime substitute for the Caspian route.
Logistics Pan Ocean Confirms Two VLCC Newbuildings at Qingdao Beihai Shipyard
South Korean shipowner Pan Ocean has confirmed a pair of VLCC newbuildings at CSSC-controlled Qingdao Beihai Shipbuilding. The 319,000 dwt ammonia-ready vessels are scheduled for delivery in September 2030, priced around $122m each, according to market sources. This follows a single same-design VLCC ordered in March, bringing Pan Ocean's VLCC orderbook at the yard to three ships.
Logistics Velos Tankers Nets $33 Million Profit on Sale of Vintage Aframax Velos Emerald
Greek owner Velos Tankers has sold the 2008-built aframax Velos Emerald for $50m, generating a $33m profit over its purchase price five years ago. The sale underscores the current tanker asset boom, with the vessel having been heavily involved in Russian oil trades.
Logistics DH Shipbuilding Sets Annual Order Record with Fresh Suezmax Pair – New Deliveries Through 2029
South Korea's DH Shipbuilding has secured a KRW271.3bn ($196m) contract for two 157,000 dwt suezmax crude carriers from an unnamed European owner, pushing its 2025 order intake to a record 17 ships. The yard's orderbook now stands at 36 vessels, filling its construction schedule through the end of 2029.
Logistics Asyad Brings Omani Investors Into LNG Carrier Pair, Retains Majority Control
Asyad Shipping has sold 20% stakes in the companies owning two new LNG carriers – Muscat LNG and Musandam LNG – to Omani investors. Oman LNG Development Foundation Investment Fund and Mars Development and Investment each acquired 10%, while Asyad retains 80% and operational control. The 174,000 cbm vessels were built by HD Hyundai Samho and are on long-term charter to Oman LNG.
Logistics Weekend Lull Fails to Unlock Strait of Hormuz Shipping as Attacks Pause
A weekend lull in US-Iran attacks brought no relief to Strait of Hormuz shipping, with commercial traffic at around 12 daily passages and crude tanker transits at about one per day. The Pentagon halted its bombing campaign late Friday after 13 consecutive nights, but shipowners remain wary. Meanwhile, the Lloyd's Market Association published model wording (LMA5708) that could void hull cover for vessels paying transit fees, and US Central Command continued enforcement operations, including disabling a tanker in the Gulf of Oman.
Logistics Rubico Lines Up Third GSI MR Tanker Newbuilding with Trafigura Charter at $18,750/Day
Nasdaq-listed Rubico has signed a letter of intent to acquire a special-purpose company holding a contract for an MR product and chemical tanker at Guangzhou Shipyard International, with delivery scheduled for Q2 2029. The vessel has been fixed to Trafigura Maritime Logistics for seven years at $18,750 per day. The deal would lift Rubico's MR newbuilding pipeline to three GSI vessels.
Logistics Gulf nations invest billions in pipelines to bypass Strait of Hormuz amid rising risks
Gulf nations are accelerating multi-billion-dollar pipeline projects to create alternative oil export routes bypassing the Strait of Hormuz, which has faced repeated disruptions. Seven major pipelines are under construction or planned, including UAE's $3 billion Fujairah pipeline and Iraq's proposed Basra-to-Ceyhan line. Existing routes from Saudi Arabia and UAE are already operating near capacity. The shift will reduce dependence on the narrow strait but introduces new risks, such as Houthi blockades in the Red Sea.
Logistics Why America May Reflag Gulf Tankers Again: Strait of Hormuz Crisis Escalates
The US may reflag Gulf tankers again, escalating its escort operations in the Strait of Hormuz amid a direct conflict with Iran. According to Splash247, Iran's capabilities have grown since the 1987 Operation Earnest Will, with 17 damaged ships and 12 seafarers killed or missing since February 2026. The US already runs an improvised escort scheme, but formal reflagging would give insurers and shippers legal clarity to bring stranded tonnage back through the strait.
Logistics ABL Wins Papua New Guinea FSO Support Contract for Santos Subsidiary
ABL, a marine and energy consultancy, has won a contract from Santos subsidiary Oil Search Limited to provide marine warranty survey services for a new FSO facility in Papua New Guinea. The FSO, the country's first offshore floating facility, will be deployed at the Kumul Marine Terminal as part of the Kutubu Pipeline System. ABL's scope covers equipment supply and installation across India, Indonesia, the UK, and Papua New Guinea, with work expected to run through 2028.
Logistics Titan Wind Energy enters tanker building with order for two crude oil tankers
Titan Wind Energy, a Chinese renewable energy equipment manufacturer, has entered the tanker building sector with an order for two firm 113,800 dwt crude oil tankers, with options for two more. The deal is valued at CNY1.874 billion ($257.8 million) if all options are exercised, with deliveries scheduled for 2028-2029. The order marks the company's first move into mainstream tanker construction, adding to China's growing shipbuilding capacity.
Logistics Houthis Claim Missile and Drone Strikes on Two Saudi Tankers in Red Sea Escalation
Yemen's Houthi movement claimed to have struck two Saudi oil tankers in the Red Sea on July 23, 2026, the first attacks since declaring a naval blockade on Saudi Arabia. One tanker, the Encelia, was hit by an unknown projectile, causing a fire. The Houthis declared the Bab el-Mandeb strait closed to Saudi-flagged tankers, raising risks for shipping lanes and energy infrastructure.
Logistics Singapore Week of Maritime Events in September 2026: Why Executives Should Plan Now for Splash Singapore and More
International shipping executives are urged to base themselves in Singapore for the week of September 21–25, 2026, as a series of major maritime events—including the inaugural Splash Singapore conference—bring together key decision-makers from across the industry. The week features the IMO Research and Development Forum, Marine Money Week Asia, SpillAsia 2026, Submarine Networks World, and the SSA 41st Anniversary Gala Dinner, offering unparalleled networking and intelligence-gathering opportunities.
Logistics Fairfield Maritime Japan secures long-term Neste charter for pair of ice-class MR tankers
Fairfield Maritime Japan has secured a long-term charter from Finnish refiner Neste covering two ice-class MR product and chemical tankers. The 50,000 dwt vessels will be built at HD Hyundai in South Korea and are scheduled for delivery in the first and second quarters of 2029. The ice-class 1A specification ensures year-round access to Neste's Porvoo refinery under Baltic winter conditions.
Logistics Seahawk Research Shows Shipping Volatility Can Diversify Investment Portfolios
Frankfurt-based Seahawk Investments released research arguing that divergence across shipping sub-sectors can be exploited for portfolio diversification via long-short equity investing. The study shows that replacing half of traditional equity allocation with its long-short fund lifted Sharpe ratio from 0.49 to 0.73, reduced volatility, and increased annualised returns. The fund showed low correlation with equity and bond markets.
Logistics Direct Hits on Tankers Push Hormuz Traffic to New Lows, Brokers Warn
Tanker traffic through the Strait of Hormuz has fallen sharply after a series of direct Iranian attacks on commercial vessels. Outbound movements average just four tankers per day, inbound three, well below previous averages. The pool of willing shipowners is shrinking, and the risk environment is deteriorating rapidly.
Logistics Houthi Naval Blockade on Saudi Arabia Tightens Oil Supply Pincer, Disrupts Red Sea Tanker Routes
Yemen's Houthis have declared a naval blockade on Saudi Arabia, causing tankers carrying Saudi crude and a Chinese car carrier to turn back in the Red Sea. The disruption threatens the fallback export route via the Red Sea, which Saudi Arabia had relied on after the Strait of Hormuz became too dangerous. Asian refiners are now seeking longer routes via Suez and the Cape of Good Hope, adding weeks to voyages and significantly increasing freight and bunker costs. Analysts warn that combined disruption of Hormuz and Bab el-Mandeb could affect routes carrying roughly a quarter of global oil supply.
Logistics Al Seer Marine's Nitin Mathur: Strait of Hormuz, AI, and Singapore to Dominate Splash Singapore
Nitin Mathur, managing director of commercial shipping at Al Seer Marine, expects the US-Iran conflict and Strait of Hormuz to dominate discussion at Splash Singapore. He highlights AI adoption, decarbonisation capex uncertainty, and Singapore's continued leadership as key themes.
Logistics Tankers Carrying Saudi Crude for India, China Make U-Turn in Red Sea on Houthi Threats
Three tankers carrying Saudi crude oil bound for China and India reversed course in the Red Sea on Tuesday after Yemen's Houthi militia warned of a naval blockade on Saudi ports. The vessels are now heading toward the Suez Canal, lengthening voyages and raising insurance costs.
Logistics Two Tankers Carrying Saudi Crude Reverse Course After Houthi Maritime Threat
Two tankers carrying Saudi crude for China and India reversed course in the Red Sea, and a third diverted before a scheduled call at Yanbu, following a Houthi maritime embargo threat. This is the first publicly confirmed route change linked to the embargo, which could add weeks to voyage times if vessels are forced to reroute via Suez and around Africa.
Logistics Essberger Exercises Options for Two More Chemical Tankers, Lifting Programme to Eight Ships
John T. Essberger has exercised options for two additional 7,900 dwt chemical tankers, increasing its newbuilding programme to eight vessels. The ice-class ships are designed for European coastal chemical trades, with deliveries from mid-2027 through September 2029. The fleet will be operated under the E&S Tankers joint venture with Stolt Tankers.
Logistics Sharp Decrease in Asia Armed Robbery Against Ships in First Half of 2026
A new report from the ReCAAP Information Sharing Centre reveals a 64% drop in armed robbery against ships in Asian waters during the first half of 2026, with only 35 incidents reported. The decline is attributed to effective preventive measures and law enforcement responses, though Philippine ports saw a surge from zero to 10 incidents. The Strait of Malacca and Singapore Strait remain the most affected area, accounting for 60% of all incidents.
Logistics BW LPG Sells Former Avance Gas VLGC for $17m Gain, Returns to Newbuilding
BW LPG has agreed to sell the BW Levant, a 2015-built VLGC acquired in the $1.05bn Avance Gas takeover, for a net book gain of $17m and net cash proceeds of $38m. The sale comes as BW LPG returns to the newbuilding market with an eight-ship VLGC order at HD Hyundai Heavy Industries. The vessel will deliver to an undisclosed buyer by mid-November, with BW LPG continuing to trade it until handover.
Logistics Nanjing Tanker Orders Four MR Product Tankers at GSI for $182.8M
China's Nanjing Tanker has approved a $182.8M order for four MR product and chemical tankers at Guangzhou Shipyard International (GSI), with delivery scheduled across 2028 and 2029. The vessels will meet IMO Tier III and EEDI phase 3 standards and be prepared for methanol dual-fuel conversion. The order extends a long relationship between the two companies, with GSI having already delivered over 10 MR units to Nanjing Tanker.
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.
Somali Pirates Seize Tanker Off Yemen and Steer It Towards Puntland, Reviving Maritime Security Concerns
Suspected Somali pirates have hijacked the Tanzanian-flagged chemical tanker Asana off Yemen and steered it towards Puntland, Somalia. The vessel was seized on Friday after departing Mukalla, with seven armed pirates on board. This incident underscores a sustained revival of Somali piracy in the Gulf of Aden and western Indian Ocean, posing direct operational risks for vessels in the region.
Logistics Hormuz transits fall sharply as Iran warns of unsafe waters amid US strikes
Transits through the Strait of Hormuz have dropped sharply after Iran claimed two oil tankers exploded and warned the waterway is unsafe. Clarksons data shows crude tanker transits fell from six to roughly two per day, and total shipping from 36 to about 15, as the US continues airstrikes on Iran.
Logistics European lawmakers demand Danish yard Fayard drop Arc7 tanker repair work for Russian Arctic LNG
More than 100 European lawmakers from 16 countries have signed an open letter demanding Danish shipyard Fayard stop repairing Arc7 ice-class LNG tankers that support Russia's Yamal LNG project. The pressure comes as the first vessel, Rudolf Samoylovich, arrived on June 30, and up to six ships may require maintenance before EU sanctions fully prohibit such services from January 1, 2027.
Logistics Iran Primes Houthis to Shut Bab el-Mandeb, Risking Global Shipping Disruption
Iran has reportedly asked Yemen's Houthi movement to prepare to close the Bab el-Mandeb Strait if the US attacks Iranian power infrastructure. Missiles and drones have been deployed near the strategic waterway, according to sources. The move threatens to choke a critical chokepoint for global trade, forcing further diversions around Africa and driving up freight costs.
Logistics Exmar Sells Five LPG Carriers in $35M Profit Deal, Reduces Tonnage Amid Newbuilding Program
Belgian gas shipowner Exmar has agreed to sell five LPG carriers, including three midsize and two fully pressurised vessels, in a deal expected to generate a $35 million profit. The sale reduces Exmar's active capacity as the company takes delivery of new ammonia dual-fuel midsize gas carriers, impacting global LPG shipping supply.
Logistics Petronas Extends Indonesian FPSO Charter to 2036, Ensuring Long-Term Offshore Production
Petronas Carigali has negotiated a 10-year extension for the Ratu Nusantara FPSO on the Bukit Tua oilfield offshore Indonesia, keeping the vessel in operation until 2036. The floating production unit, owned by Sabah International Petroleum and PT M3 Ketapang Sejahtera, has a processing capacity of 25,000 bbl of oil and 60m cf of gas per day. The extension follows over 11 years of consistent performance and strengthens the partnership between Malaysia and Indonesia.
Logistics US Forces Fire Hellfire Missiles to Disable Iran-Bound Tanker in Arabian Gulf
U.S. forces fired Hellfire missiles to disable the Curacao-flagged tanker M/T Belma attempting to violate a blockade toward Iran's Kharg Island terminal. The vessel ignored multiple warnings and is no longer transiting. The U.S. blockade began July 14 after the ceasefire collapsed. Crude oil futures stabilized at $78 per barrel with reduced Strait of Hormuz traffic.
Logistics JP Morgan Tied to Hanwha Ocean's Latest VLCC Newbuilding Order
JP Morgan has been identified as the owner behind Hanwha Ocean’s latest order for two VLCC newbuildings, priced at about $132.5m each. The order is part of a broader programme of 10 VLCCs across South Korean and Chinese yards, with total spending near $1.3bn. Hanwha Ocean has now secured 27 vessels worth $4.61bn in 2026.
Logistics Wärtsilä signs five-year lifecycle contract for Turquoise P FSRU in Turkey
Technology group Wärtsilä has signed a five-year lifecycle agreement with Ireland-based Pardus Energy to support the Turquoise P FSRU at the ETKI LNG terminal in Turkey. The contract includes dedicated management, maintenance planning, and spare parts to improve operational readiness and prepare for major overhauls.
Logistics Splash Singapore: Christoph Toepfer Warns of Recurring Hormuz Disruption for Tanker Industry
Christoph Toepfer, CEO of Borealis Maritime, warns the tanker industry to prepare for recurring Strait of Hormuz disruption rather than one-off events. Speaking at the upcoming Splash Singapore conference, he highlights impacts on charter rates, insurance premiums, and rerouting via the Cape of Good Hope, urging investment in supply chain resilience and AI-driven logistics tools.
Logistics Suriname FPSO GranMorgu to Test First-of-Its-Kind Kite-Assisted Towing Across Pacific
A joint venture of SBM Offshore, Technip Energies and TotalEnergies has agreed with Beyond the Sea to trial a kite-assisted towing system on the GranMorgu FPSO for Suriname. The technology, used for the first time on an FPSO, aims to reduce fuel consumption and towing duration during the vessel's voyage from China to Suriname. If successful, it could open a new decarbonization pathway for large-scale maritime towing.
Logistics Rubico Acquires MR Tanker Newbuilding from Top Ships in Fleet Expansion Deal
Nasdaq-listed tanker owner Rubico has agreed to acquire an MR tanker newbuilding from former parent Top Ships for about $6.25m for the shares of a special-purpose company holding the contract. The 47,499 dwt product and chemical tanker, built at Guangzhou Shipyard International (GSI), is priced at $45.2m and scheduled for delivery in Q3 2029. The vessel has been fixed to an unnamed major oil trader for seven years with extension options, carrying potential gross revenue of about $75.4m.
Logistics Ukraine's Azov campaign hits 116 Russian vessels in nine days, eclipsing 1980s tanker wars
Ukraine has struck 116 Russian vessels in nine days in the Sea of Azov, a campaign that maritime security firm Ambrey says has surpassed the pace of the Iran-Iraq tanker war. The attacks, targeting tankers and cargo ships, aim to sever Russian logistics chains. Around a quarter of Russia's grain exports move through Azov ports, and diversions to the Black Sea and Baltic are already being considered. The IMO condemned the strikes, while seafarer casualties have been reported, including eight killed in Russian counterstrikes on Odesa.
Logistics Performance Shipping Lifts Aframax Earnings with Two-Year AET Charter Extension at Higher Rates
Performance Shipping has extended the charter of its aframax Blue Moon with AET for two years at an average rate of $40,500 per day, up from $28,000. The deal will generate about $29m in gross revenue and boosts the company's contracted revenue backlog to over $530m.
Logistics DHT Holdings Secures Three-Year VLCC Time Charter at $75,000 Per Day for DHT Jaguar
New York-listed VLCC owner DHT Holdings has fixed its 2015-built DHT Jaguar on a three-year time charter with an unnamed global energy company at $75,000 per day, starting September. The deal adds long-term forward cover into 2029 and follows earlier high-paying fixtures. DHT reported strong Q2 fleetwide TCE earnings of $126,700 per day, with spot VLCCs earning $162,600 per day.
Logistics Hormuz crisis reaches final form: double tolls, dual routes, and paralysis for shipping
The Strait of Hormuz has become the world's first double-tolled chokepoint after the US announced a 20% levy on all cargo transiting the strait, while Iran continues collecting fees from 'friendly' vessels. The dual pricing, along with two rival traffic routes and two irreconcilable geopolitical worldviews, is creating paralysis across ocean freight, especially for oil and LNG tankers. P&I clubs, charterers and traders have no precedent to price the risk.
Logistics Andriaki Shipping Breaks Decade-Long Newbuilding Silence with LR1 Tanker Pair at Chinese Yard
Greek tanker owner Andriaki Shipping has been linked to its first newbuilding order in about a decade, booking two 73,500 dwt LR1 tankers at China's New Times Shipbuilding. The scrubber-fitted vessels are priced at about $55.1m each and expected to deliver in 2030, marking a rare move into Chinese shipyards for the conservative owner.
Logistics Ciner Group's VLAC Investment Surpasses $1 Billion with Three New Orders at HD Hyundai
Turkish industrial conglomerate Ciner Group has ordered three additional very large ammonia carriers (VLACs) from HD Hyundai, bringing its total investment in the segment past $1 billion. The $363 million contract for 90,000 cbm LPG dual-fuel ships follows a $717 million order for six VLACs in May 2026. Ciner now has nine ammonia carriers on order at HD Hyundai Samho, with deliveries extending into 2030, amid a sharp rebound in large gas carrier contracting.
Logistics Trump Monetises Hormuz Security as Tanker Attack Kills Indian Seafarer and US Reimposes Iran Blockade
A UAE-flagged tanker was struck by Iranian missiles in the Strait of Hormuz, killing an Indian crew member, as the US resumed its blockade of Iranian ports and President Trump announced a 20% toll on all cargo transiting the waterway. DP World is planning a new port at Fujairah to bypass the strait.
Logistics Anglo-Eastern CEO Bjorn Hojgaard Urges Shipping to Embrace Uncomfortable Debates at Splash Singapore
Bjorn Hojgaard, head of Anglo-Eastern, will speak at Splash Singapore on September 24, urging the industry to move beyond comfortable consensus. He identifies three key themes: geopolitical uncertainty, technology integration, and the energy transition, emphasizing resilience over efficiency.
Logistics StealthGas to Sell Blast-Damaged LPG Carrier After Insurance Settlement
Nasdaq-listed StealthGas has settled its insurance claim for the damaged LPG carrier Eco Wizard and will sell the vessel as-is. The 40,000 cu m carrier was damaged on July 6, 2025, while loading ammonia at Russia's Ust-Luga port, causing an ammonia leak and crew evacuation. The vessel, currently inoperable in Riga, Latvia, will be disposed of to a third party at no expected monetary value after the insurance payout. The incident is part of a broader security concern around merchant ships calling at Russian ports.