CMA CGM Tipped for $3B Yangzijiang Megamax Order as 12-Ship LOI Emerges
CMA CGM has been identified by Alphaliner as the likely customer behind a reported Yangzijiang Shipbuilding project for 12 additional 24,000-TEU containerships,…
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China Opens Pinglu Canal, Creating New 5,000-Tonne Shipping Gateway to Beibu Gulf
China officially opened the 134.2-kilometer Pinglu Canal to navigation on September 16, creating a direct river-to-sea route from Guangxi and southwest China…
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Oman Evacuates 23 From Attacked Tanker EL GAIA as Search Continues for Two Missing Crew
Omani authorities are continuing search-and-rescue operations after the Panama-flagged oil tanker EL GAIA was struck in the Strait of Hormuz, triggering a…
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VLCC Rates Break $1 Million a Day as Hormuz Traffic Collapses
Very large crude carrier earnings have reached unprecedented levels as escalating attacks around the Strait of Hormuz sharply reduce the pool of…
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PanStar Acro Reaches Britain in 21 Days via Northern Sea Route
South Korea’s PanStar Acro reached Felixstowe, Britain, on September 12 after a 21-day voyage from Busan through the Northern Sea Route, completing…
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Saudi Oil Bypass Pipeline Remains Offline as Brent Tops $107
Saudi Arabia’s East-West crude pipeline remained offline on September 15 after attacks on the 1,200-kilometer system forced a precautionary shutdown, removing the…
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$669M Delaware Container Terminal Breaks Ground for 1.2M-TEU Edgemoor Buildout
Enstructure and the Diamond State Port Corporation have broken ground on the $669 million Delaware Container Terminal at Edgemoor, moving the long-planned…
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George Procopiou’s Dynacom Orders Eight Ships at Hengli in Near-$1B VLAC/VLCC Deal
George Procopiou’s Dynacom has placed another eight-vessel newbuilding package with China’s Hengli Heavy Industries in a deal reported at close to $1…
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Japan Adds $635M to Shipyard Revival Push as Five More Yard Groups Win Support
Japan has approved a second round of shipbuilding capacity investments under its Shipbuilding Industry Revitalisation Fund, authorizing up to ¥98 billion, about…
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Saudi Pipeline Outage Puts 4% of Global Oil Supply at Risk as Red Sea Route Tightens
Saudi Arabia faces the prospect of a sharp reduction in crude exports if its damaged East-West oil pipeline is not restarted within…
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Middle East Shipping Squeezed at Both Chokepoints as Houthis Tighten Red Sea Grip and Hormuz Attacks Continue
Yemen’s Houthis have expanded their physical presence around the southern Red Sea after seizing the port of Mokha, Mayun Island inside the…
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Suspected Pirate Hijacking of Bulker Glamor Reported Off Yemen
A suspected pirate hijacking involving the 24,073-dwt Glamor was reported in the Gulf of Aden on September 10 after the vessel was…
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Drewry WCI Holds at $4,476 as U.S. Container Rates Rise and Europe Lanes Slide
Drewry’s World Container Index held essentially flat for a second week, with the September 10 reading at $4,476 per 40-foot container compared…
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$900M Montevideo Container Terminal Proposed as Neltume Targets 1.15M TEU Capacity
Neltume Ports, the majority shareholder of Montecon, has formally submitted a proposal to Uruguay’s government for a new $900 million specialized container…
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Fire Safety: 25 Killed at Qingdao Shipyard as Fires Hit Ferries, Tankers and Cargo Ships
A fire aboard the 55,742-dwt bulk carrier Ocean Melody killed 25 people while the Liberian-flagged vessel was undergoing repair and inspection work…
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Arctic LNG 2 Hits Hanwha Ocean With Another $1bn Claim Over Canceled Arc7 Tankers
Russia’s Arctic LNG 2 has opened a new arbitration against South Korean shipbuilder Hanwha Ocean at the Singapore International Arbitration Centre, seeking…
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Brent Breaks $100 as Bunker Costs Surge and 2027 Outlook Shifts
Marine fuel markets moved sharply higher on September 9 as renewed attacks on tankers and energy infrastructure in the Middle East pushed…
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Austal USA Draws $1.25B-$1.35B U.S. Bid, Topping Hanwha Offer
Austal has received a new non-binding proposal from U.S.-based Wildcat Infrastructure LLC to acquire Austal USA at an enterprise value of US$1.25…
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Rotterdam World Gateway Secures Largest Financing Yet for €500M Expansion Toward 5M TEU
Rotterdam World Gateway has completed the largest financing in its history to support the next stage of its automated container terminal expansion…
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Hormuz Tanker War Erupts, Trading Blows in the Biggest Wave Yet
The Hormuz conflict has moved into a more dangerous phase as both sides target shipping, energy assets and military-linked vessels in the…
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