ONE NEW AND ONE CONVERTED TRENCHING SUPPORT VESSEL TO ENRICH JAN DE NUL’S FLEET
Jan De Nul is expanding its fleet with the addition of two trenching support vessels, with the first being a newbuild and the other to be converted from a water injection dredger.
The new trenching...
IEA APPROVES RECORD OIL RESERVE RELEASE, KEEPING A LID ON PRICES
On Wednesday, IEA members approved a record-setting coordinated release of 400 million barrels from global reserves, helping to keep an expected increase in Brent crude prices to just five percent. Brent closed at $92...
PIECES OF $5.1 BILLION LNG PROJECT IN CANADA KEEP FALLING INTO PLACE
Woodfibre Management, a privately held Canadian company based in Vancouver, is making inroads in the construction of its operated multibillion-dollar liquefied natural gas (LNG) export project under development in British Columbia, Canada.
The marine work...
THE IRAN WAR AND GLOBAL TRADE: WILL THE CAPE ROUTE BECOME THE NEW NORMAL?
Events in the Middle East during February and March 2026 again disrupted the flows of shipping trade to the eastern and western spheres of the international system.
Given that the global economy is maritime based...
GERMANY’S SEFE NAILS DOWN 8-YEAR LNG OFFTAKE WITH SOUTH AMERICAN FIRM
Germany’s Securing Energy for Europe (SEFE) has finalized a multi-year liquefied natural gas (LNG) supply agreement with Argentina’s Southern Energy (SESA) against the backdrop of rising energy security concerns that are looming over Europe...
HORMUZ SHUTDOWN COULD ALSO AFFECT AGRICULTURE, PETCHEM AND MINING SECTORS
Much attention has been paid to the effects of the Strait of Hormuz shutdown on the oil and LNG markets, but there are half a dozen other commodities that will be affected in the...
LNG PRODUCTION FREEZE PUSHES QATARENERGY TO INVOKE FORCE MAJEURE
A liquefied natural gas (LNG) shutdown has led Qatar’s state-owned oil and gas giant QatarEnergy to issue a contractual force majeure notice to LNG buyers.
The move to declare force majeure comes shortly after QatarEnergy...
TANKER TRAFFIC IN HORMUZ DROPS TO ZERO AS P&I CLUBS PULL WAR RISK COVER
Multiple leading P&I clubs have announced that they are suspending war risk insurance for transits of the Strait of Hormuz, effectively making the risk exposure too high for tanker owners to bear. Energy shipping...
SHIPPING COMPANY SECURES FIXED-RATE E-METHANOL SUPPLY AHEAD OF EU CLIMATE REGULATIONS
European shipping company RFOcean has signed a binding long-term off-take agreement with ETFuels to purchase e-methanol at a fixed price from 2030.
According to ETFuels, the agreement positions RFOcean ahead of binding and punitive new...
WHAT WOULD CLOSURE OF THE STRAIT OF HORMUZ MEAN FOR SHIPPING?
The reported sinking of several Iranian warships by US missiles in the Gulf of Oman serves as a reminder of the maritime aspect of the conflict which began February 28 with a barrage of...