Several maritime insurers have suspended war-risk coverage for vessels in the Persian Gulf and nearby waters, effective March 5, amid rising US-Israel tensions with Iran. Seven of the twelve International Group of Protection and Indemnity Clubs have announced automatic termination of this coverage, impacting crucial global shipping routes.
InterManager has voiced deep concern over rising tensions affecting merchant shipping in the Strait of Hormuz. President Sebastian von Hardenberg stressed the importance of prioritizing seafarers’ safety, urging authorities to provide clear guidance for safe vessel passage. He emphasized the need to protect maritime trade and the livelihoods of those at sea.
Amid rising tensions in West Asia, shipping companies face increasing war risk premiums, significantly impacting global maritime insurance. Insurers are reevaluating coverage due to geopolitical unrest, particularly around the Red Sea. This reassessment could disrupt global trade and drive up shipping costs, affecting various sectors and highlighting broader economic volatility.
Researchers at the Korea Institute of Materials Science (KIMS) have developed a groundbreaking carbon coating that enhances corrosion and wear resistance in ammonia-fueled marine engines. This innovation addresses the challenges of ammonia’s corrosive properties, paving the way for cleaner maritime propulsion and positioning Korea as a leader in green shipping technologies.
Two merchant vessels and a fishing boat are aiding the South African Maritime Safety Authority in the search for missing crew members from the tugboat Leo, which sank overnight. Of the 18 crew members, 12 were rescued, one confirmed dead, and five remain unaccounted for amid challenging sea conditions.
Last month, Hydrex successfully conducted an underwater bow thruster operation on a ferry in Stockholm during winter. Scheduled during a service break, the team collaborated closely with the ferry crew. They replaced the old thruster with a new unit, ensuring efficient workflow and eliminating the need for a drydock visit.
On March 1, 2026, three vessels were attacked in the Strait of Hormuz amidst rising tensions from Iranian retaliatory strikes against US-Israeli air raids. One ship off Oman was hit by an unidentified projectile, igniting a fire that was later controlled. Another vessel also faced a projectile strike, but all crew members remained safe.
In the past 24 hours, two tankers were attacked in the region, escalating the threat level to critical. The SKYLIGHT sustained injuries to its crew, while the MKD VYOM caught fire from a projectile. Analysts warn of increased missile threats and navigation hazards in the Strait of Hormuz, impacting all merchant vessels.
Belgium has seized the oil tanker Ethera, linked to Russia’s shadow fleet and suspected of using false documents, according to Defence Minister Theo Francken. This action aligns with Western sanctions aimed at reducing Russia’s oil revenues post-invasion of Ukraine. The Russian embassy expressed concern over the seizure’s implications.
Seaspan has introduced Dockboy, a remote-controlled ultra-high pressure cleaning tool for efficient hull maintenance. This innovative device removes marine growth and coatings in one operation, ensuring paint-ready surfaces. With improved connectivity over uneven surfaces, Dockboy enhances operator ergonomics, safety, and contributes to a quieter working environment at Vancouver Drydock and Victoria Shipyards.
A Palau-flagged oil tanker, the Skylight, under U.S. sanctions, was attacked near Oman’s Musandam peninsula, injuring four crew members. The incident, occurring close to the vital Strait of Hormuz, follows prior drone strikes, signaling escalating tensions in the region amid retaliatory actions by Iran against U.S.-Israeli initiatives.
ClassNK has released updated editions of two key documents: “FAQs on the EU-ETS for Shipping (3rd Edition)” and “FAQs on the FuelEU Maritime (5th Edition).” These resources aim to help maritime stakeholders navigate new environmental regulations. The EU Emissions Trading System and FuelEU Maritime regulations will impact vessels over 5,000 gross tonnage.
The Australian Maritime Safety Authority (AMSA) completed a 24-day emergency response after the bulk carrier Swift Hangzhou experienced engine failure in the Coral Sea. Deployed tugboats and continuous monitoring prevented potential drift toward the Great Barrier Reef, highlighting AMSA’s crucial role in managing maritime incidents in sensitive environments.
A significant number of oil tankers are avoiding the Strait of Hormuz due to heightened tensions following recent U.S. and Israeli bombings in Iran. While some vessels continue to transit, many are paused at the strait’s entrance. This area is vital, with 20% of the world’s oil passing through daily.
On Saturday, Qatar’s Ministry of Transport announced a temporary halt to maritime traffic as a safety precaution due to regional developments. This measure aims to protect maritime operations, urging vessel owners and companies to comply. The ministry is coordinating with authorities to monitor the situation and ensure public safety.
