A recent analysis by Danish Shipping Companies reveals a record price difference for bunker oil between Singapore and Rotterdam, reaching $362 per ton in mid-March 2026. Geopolitical events, notably Russia’s invasion of Ukraine and tensions in the Strait of Hormuz, have significantly impacted oil prices, particularly in Asian markets.
Exmar has proudly launched the MGC ANTWERPEN, the world’s first oceangoing vessel powered by a dual-fuel ammonia engine. This innovative mid-size gas carrier can transport 46,000 cubic meters of ammonia or liquefied petroleum gas, achieving nearly zero emissions with low-carbon ammonia, and surpassing current emissions reduction targets by 90%.
President Donald Trump recently announced that the U.S. military has been secretly assisting commercial vessels in the Strait of Hormuz. He claimed this operation has successfully enabled over 100 million barrels of oil to reach the market and supported more than 200 ships, asserting U.S. control over the crucial waterway.
Over the weekend, 16 tankers congregated off Oman to transfer millions of stranded barrels, indicating a shift from the prior month’s near halt in oil flow. With many vessels operating without transponders, oil transport through the Strait of Hormuz is becoming more consistent, supported by U.S. assistance amid regional conflicts.
The Nigerian Maritime Administration and Safety Agency (NIMASA) reaffirmed its commitment to improving seafarers’ documentation and maritime digitalization, as stated by Edward Osagie during a recent visit from the Gambia Maritime Administration. The collaboration aims to enhance regional certification systems and share operational insights, strengthening ties between Nigeria and The Gambia.
On May 25, 2025, the MSC Elsa 3 sank off Kerala, carrying 643 containers, including hazardous materials. An interim report revealed the vessel’s unseaworthiness due to malfunctioning ballast systems and overlooked pressure readings. Aging equipment and delayed management responses contributed to the disaster, highlighting critical gaps in crew training and emergency preparedness.
In April, oil tanker traffic through Egypt’s Suez Canal surged nearly 30%, yielding the highest revenue since early 2024. This increase followed the closure of the Strait of Hormuz, pushing countries like Saudi Arabia to seek alternative routes. Revenue reached $419 million, reflecting a 27% rise from last year.
The American Bureau of Shipping (ABS), alongside HD Korea Shipbuilding & Offshore Engineering and HD Hyundai Heavy Industries, has achieved a significant milestone by completing a joint development project for a 16,000-TEU ultra-large container ship with a battery hybrid system. ABS granted approval in principle for the vessel’s electrical design, underscoring advancements in eco-friendly shipping technologies.
The cargo ship MSCI 1 ran aground off Luzon’s northwest coast, partially capsizing and causing an oil spill. On June 8, the Philippine Coast Guard was alerted as the crew abandoned ship due to worsening weather. Oil leaks prompted immediate environmental response efforts, including the deployment of containment booms.
Two vessels flying Panamanian and Barbadian flags were damaged in an attack while navigating Ukraine’s Black Sea corridor. One ship, carrying metal, was en route to Odesa, while the other, loaded with grain, had just departed. Odesa’s governor condemned the assaults, highlighting ongoing threats to maritime safety.
The European Commission has unveiled a 21st package of sanctions against Russia, targeting its financial sector, energy exports, and military supply chains. This includes asset freezes on nearly 90 banks and sanctions on 30 vessels linked to Russia’s shadow fleet, further intensifying economic pressure following the Ukraine invasion.
A recent DNV assessment confirmed that Carbon Ridge’s centrifugal onboard carbon capture system (OCCS) can achieve CO2 capture rates of up to 98%. Tested on the LR2 product tanker STI Spiga, this marks a significant advancement in maritime carbon capture technology, offering a compact solution for reducing emissions on vessels.
The Secretary-General of the IMO, Mr. Arsenio Dominguez, has expressed grave concerns about seafarer safety in the Strait of Hormuz. Despite known risks and recent incidents, vessels continue to navigate the area without adequate security. He emphasizes that protecting seafarers’ lives must take precedence over commercial interests.
The European Sea Ports Organisation (ESPO) has expressed concerns about the Entry and Exit System’s (EES) impact on traffic flow in maritime ports as summer approaches. Following congestion at Dover during the May bank holiday, ESPO’s Secretary General, Isabelle Ryckbost, urges proactive regulatory flexibilities to prevent delays for travelers and transport.
Colombo International Container Terminals (CICT) has successfully discharged a substantial 2,241-tonne shipment of Battery Energy Storage System (BESS) units, vital for improving Sri Lanka’s national grid. Arriving via the heavy-lift vessel Da Xiang, these units, weighing 41.5 tonnes each, represent a significant milestone in the country’s renewable energy efforts.
