President Donald Trump has extended a crucial shipping waiver for 90 days to support strained fuel and fertiliser supply chains due to the Gulf crisis. This measure enhances the movement of essential commodities amidst disrupted maritime routes. Concurrently, Trump emphasized the urgency of reopening the Strait of Hormuz with UK Prime Minister Keir Starmer.
RINA has granted an Approval in Principle (AiP) to ST Engineering Marine for a pioneering retrofit project on the Asean Raider I ferry. This initiative replaces a diesel generator with a hydrogen fuel cell, aiming to reduce carbon emissions while ensuring safety and compliance with maritime regulations. The project highlights innovative hydrogen technology integration.
Traffic through the Strait of Hormuz has plummeted to nearly zero, with only five vessels transiting in the past day—a 97% decline from the pre-conflict average. This crisis, now spanning nine weeks, follows the Iranian Revolutionary Guard Corps’ seizure of commercial vessels, rendering the strait commercially impassable.
On Friday, a service vessel, the Multi Power, collided with the moored fast ferry Froyfart at a small port on Froya island. The impact caused significant damage, including a large gash in the ferry’s hull and partial flooding. Salvage operations began the same day, leading to the cancellation of an upcoming voyage.
Oil prices surged nearly 2%, climbing to a two-week high amid stalled U.S.-Iran negotiations and ongoing shipment restrictions in the Strait of Hormuz. Brent crude rose by $2.16 per barrel to $107.49, marking six consecutive days of gains, while U.S. WTI increased by $1.32 to settle at $95.72.
Seatrium has successfully divested its fleet of 17 tugboats in Singapore for $81.5 million, finalizing the transaction on April 24, 2026. This strategic move, alongside other asset sales, is expected to generate annual cost savings of over $39.1 million. A towage services agreement with KST Maritime has also been established.
Somali pirates have hijacked the fuel tanker Honour 25, with 17 crew members aboard, about 30 nautical miles from the coast. The vessel, carrying 18,500 barrels of fuel, was captured by six armed assailants. This incident raises concerns over maritime security amid rising fuel prices in Mogadishu.
Last week, the car carrier CMA CGM Monza collided with a pier at Bremerhaven port, sustaining damage. The incident occurred early Tuesday as the vessel navigated narrow waters amid strong winds. An eight-foot gash was reported in the hull, but fortunately, there were no injuries or pollution. Investigations are ongoing.
On April 25, French President Emmanuel Macron reiterated his commitment to reopening the Strait of Hormuz, crucial for global energy supplies. Following TotalEnergies CEO Patrick Pouyanne’s warning of potential shortages due to ongoing conflicts, Macron emphasized the need for international cooperation to ensure safe navigation and stability in the region.
Iran has confirmed its first toll revenue collection from vessels passing through the Strait of Hormuz, as announced by Deputy Parliament Speaker Hamidreza Haji Babaei. This revenue, now held by Iran’s Central Bank, marks a shift in policy—transforming the strait from a security zone into a revenue-generating route for global shipping.
Iranian military officials have issued a stern warning about the U.S. blockade of its ports, stating that continued restrictions will provoke a response from Iran’s “powerful armed forces.” They emphasized that Iran is now better equipped to defend its sovereignty and is closely monitoring foreign military activities, particularly in the Strait of Hormuz.
Iran’s Revolutionary Guards Corps has seized two container vessels near the Strait of Hormuz, escalating maritime tensions. Approximately 40 sailors from various nations are unaccounted for, prompting concerns over their safety. The seizures are viewed as retaliation for US actions, further complicating the already volatile shipping landscape in the Gulf.
Mitsui O.S.K. Lines (MOL) is enhancing its wind-assisted propulsion initiative with the “Wind Challenger” system, developed in collaboration with Oshima Shipbuilding. This rigid sail adjusts to real-time wind conditions, aiming to reduce GHG emissions. MOL plans to retrofit 25 vessels by 2030 and achieve net-zero emissions by 2050.
The Panama Canal authorities are addressing misconceptions about auction slots, asserting that no vessels bypass waiting lines. CFO Victor Vial emphasized that available slots come from cancellations, enhancing transparency in prioritization. Rising demands have driven auction prices from $135,000 to approximately $385,000, coinciding with increased transit capacity amid improved weather conditions.
The International Transport Workers’ Federation (ITF) has condemned recent attacks on civilian shipping in the Strait of Hormuz, calling for an end to using commercial vessels in warfare. ITF General Secretary Stephen Cotton stressed that seafarers, particularly from the Global South, should not be treated as “pawns” in geopolitical conflicts.
