Shippers Look For Clarity on Reopening Hormuz After US-Iran Ceasefire
Shippers said on Wednesday they needed more clarity on the terms of the U.S.-Iran ceasefire before resuming transit through the Strait of Hormuz, as Iran issued fresh warnings about any vessels attempting to sail through the waterway.The six‑week conflict had brought traffic through the strait - a chokepoint for about 20% of global oil and liquefied natural gas (LNG) shipments - close to a standstill…
Kongsberg Maritime to Supply Waterjets for Indian Navy’s Missile Vessels
Kongsberg Maritime has signed a contract to supply 18 large Kamewa waterjets for the Indian Navy’s Next Generation Missile Vessel (NGMV) program. Each of the vessels will feature waterjets, delivering speed and maneuverability for high-performance naval operations.The NGMV fleet is being built by Cochin Shipyard Limited and will play a critical role in India’s maritime defense strategy.This contract…
ClassNK Reshuffles Full-Time Executive Roles
ClassNK has carried out a regular reshuffle of its full-time executives effective March 17, 2026. Yoshifumi Miyatake has been appointed as Senior Executive Vice President, and current Corporate Officer Toshio Kurashiki has been appointed as Executive Auditor. President & CEO Hayato Suga, Executive Vice President Masaki Matsunaga, Yoshiya Yamaguchi, and Fumihiko Higashi continue in their current roles.Former Senior Executive Vice President Junichiro Iida…
Hoyer VMS Group Reports Record Revenue in 2025
The Danish motor and service company Hoyer VMS Group has recently presented financial results with strong growth on both the top and bottom lines. Revenue totaled USD1$35 million (DKK 867 million) in 2025 compared to USD$114 million (DKK 733 million) in 2024, while earnings of USD$18 million (DKK 118 million; EBITDA) were USD$1.25 million (DKK 8 million) higher than the previous year.“The strong growth…
Anschütz Expands Singapore Office
In response to rising demand in Asia and growing ambitions in both the civil and military sectors, Anschuetz Singapore is now taking its next step by relocating to larger and more efficient premises at Bulim Square.Since its establishment in 2009, Anschuetz Singapore has grown into a team of around 40 specialists.From Singapore, Anschuetz coordinates service operations throughout the South East Asian region…
Sanmar Shipyards Celebrates Successful Sea Trials of 14th All-Electric Tug
Sanmar Shipyards has announced the successful completion of sea trials for its 14th fully electric tugboat, marking an achievement in the company’s 50th-anniversary year. This latest vessel, an ElectRA 2500SX design, reinforces Sanmar’s position as a global leader in the transition toward a sustainable, emissions-free towage industry.The ElectRA Series was created through an exclusive partnership with Canadian naval architects Robert Allan Ltd.
Nam Cheong Locks In Two OSV Charters amid Tight Southeast Asia Supply
Malaysia-based offshore support vessel (OSV) provider Nam Cheong has secured OSV charter contracts worth up to $25 million, as demand for vessels remains firm in Southeast Asia.The contracts cover one anchor handling tug supply (AHTS) vessel and one maintenance work vessel, each with a firm charter period of up to two years starting in 2026, with options to extend for an additional year.The AHTS vessel…
SCA Secures First 50Hertz Contract for Cable Carousel Systems
Subsea Cable Assets (SCA) has secured its first framework contract with 50Hertz to deliver cable storage and handling systems for power grid projects in Germany.The contract, awarded through a European tender process, covers the engineering, manufacturing, delivery, installation and commissioning of four cable carousel systems, including associated loading equipment.SCA said the systems are designed to support both offshore and onshore grid infrastructure…
Technip Energies Continues EPC Work on Commonwealth LNG Ahead of FID
Technip Energies has received a substantial authorization to continue work on the Commonwealth LNG project in Louisiana, as the development moves toward a final investment decision.The authorization, awarded by Commonwealth LNG, allows the company to proceed with key engineering, procurement and construction activities under an existing EPC contract.Technip Energies said the award supports ongoing…
From Experience to Insight: Klaveness Facilitates Shipping’s Digital Move
For much of its modern history, shipping has relied on experience, instinct and relationships as much as data. Decisions were – and in many cases still are – informed by spreadsheets, phone calls, intuition and experience built over decades. Today, that foundation is being reshaped by digital tools designed to bring clarity, visibility and confidence to some of the industry’s most complex challenges.Few…
Hapag-Lloyd Estimates Up to $60M Weekly Costs Rise from Hormuz Crisis
Hapag-Lloyd voiced cautious optimism on Wednesday on the prospect of resuming shipping through the Strait of Hormuz after a two-week ceasefire agreed between the U.S. and Iran, but said that resuming normal traffic throughout its network would take at least 6-8 weeks.Speaking in a call to customers, CEO Rolf Habben Jansen echoed guarded remarks by peer container shipping group Maersk, saying that more security assurances were needed.
Maersk Maintains Caution on Hormuz Shipping Despite Ceasefire
Maersk said on Wednesday the two-week ceasefire agreed between the U.S.
France Leads 15-Country Effort to Reopen Strait of Hormuz
French President Emmanuel Macron said about 15 countries were planning to facilitate the resumption of traffic through the Strait of Hormuz, through which a fifth of the world's oil supply usually flows, after a ceasefire between the United States and Iran was announced."About 15 countries are currently mobilised and are participating in the planning, under France's leadership, to enable the implementation…
Oil Tumbles, Stocks Surge on Middle East Ceasefire
Oil prices dived, stocks surged and the dollar was knocked back on Wednesday as a two-week Middle East ceasefire sparked a relief rally, fuelled by hopes that oil and gas flows through the Strait of Hormuz could resume.The news capped weeks of market volatility and geopolitical upheaval after U.S. and Israeli strikes on Iran at the end of February pushed tensions to the brink, with Tehran effectively…
CK Hutchison's Panama Unit Files Arbitration Against Maersk
Hong Kong-based conglomerate CK Hutchison's Panama unit has launched an arbitration against Maersk after the takeover of two strategic ports near the Panama Canal which are at the center of a legal battle that has embroiled Beijing and Washington.In a statement, Panama Ports Company (PPC) said Maersk broke a long-term contract by siding with the Panamanian government to help remove PPC from its operations…
HII Teams with GrayMatter Robotics to Integrate AI into Shipbuilding
HII and GrayMatter Robotics (GMR) have signed a memorandum of understanding to explore the integration of GMR’s Physical AI into shipbuilding operations that could accelerate throughput.This will include bringing autonomous surface preparation, coating, and inspection technologies into shipbuilding.Eric Chewning, HII’s executive vice president of maritime systems and corporate strategy, said: “We are…
Mesabi Metallics Secures Funding for New Steel Plant
Mesabi Metallics, backed by Essar Group, has secured $150 million of financing from Macquarie Group, supporting the Q3 2026 startup of its world-scale Direct Reduction (DR) grade iron ore mine and pellet plant in Nashwauk, Minnesota.The financing follows Mesabi's recently announced $520 million senior secured credit facility with Breakwall Capital, further reinforcing the strong momentum behind the project.Mesabi has also recently received support from the U.S.
NYK Uses Recycled Material for Car Lashing Belts
Nippon Yusen Kabushiki Kaisha (NYK), NYK Trading Corporation, and Rexxam have jointly introduced “eco CLASPER”, a newly developed car lashing belt made from 99.5% recycled polyester fiber.On March 26, the three companies completed the installation of the belts on the newly built pure car and truck carrier Elder Leader. Compared to conventional products, “eco CLASPER” reduces GHG emissions generated…
Massive Increase in Oil Transport Through Danish Waters
Major geopolitical events have led to massive changes in the patterns of global oil transport at sea. This underlines the importance of effective Danish marine environmental preparedness when almost five million barrels of oil pass through Danish waters every day, according to Danish Shipping Companies.In the first half of 2025, as much oil was shipped through the Great Belt and the Sound as through the Suez Canal. Here, 4.9 million barrels of oil were shipped through both places per day.
Corrina Ott Named Vice President of the Greater Houston Port Bureau
The Greater Houston Port Bureau Board of Directors has announced the promotion of Corrina Ott to Vice President. Ott joined the Port Bureau in April 2025 and has been responsible for managing the Port Bureau’s Efficiency and Dredging Committee’s as well as maintaining the Port Bureau’s links with industry and Federal Partners. Additionally, she provides support for the Houston Ship Channel Security…
