Iran’s authority for the Strait of Hormuz has announced a complete closure of the vital waterway due to escalating tensions from U.S. military actions. The Persian Gulf Strait Authority stated the closure will remain in effect until further notice, urging patience from those with transit permits as the situation develops.
A recent study titled “Enabling Nuclear-Powered Feeder Ships” evaluates the feasibility of nuclear-powered vessels at the Port of Rotterdam. Conducted by Lloyd’s Register and partners, it emphasizes regulatory alignment and public engagement for safe integration. The report advocates for nuclear propulsion in discussions on decarbonization amid rising zero-emission pressures.
Global container shipping rates have surged sharply due to rising tensions around Iran, with Asia–U.S. shipment spot prices nearly doubling since late February. A 40-foot container from Shanghai to Los Angeles now costs $4,565, while shipments to New York hit $5,505, driven by soaring fuel costs and disrupted trade flows.
On June 7, the cargo vessel Fri Skien reported a leak off the French coast, 20 nautical miles from Cap de la Hague. Despite the leak, the ship remained maneuverable. Emergency services quickly stabilized the situation, ensuring crew safety and preventing environmental pollution, allowing the vessel to reach Le Havre for inspection.
NOAA has declared the onset of El Niño conditions, leading the Panama Canal Authority to implement its first vessel draft restriction of 2026. El Niño is expected to intensify this winter, with a 63% chance of becoming “very strong,” impacting rainfall in Central America and potentially disrupting global shipping.
BIMCO has introduced a Biofuel Clause for Time Charter Parties to address legal and operational challenges stemming from low-carbon fuel use in shipping. This clause provides clear definitions, aligns with ISO standards, and includes processes for sampling and testing biofuels, ensuring safe and efficient integration into charter agreements as the industry decarbonizes.
The Trump administration has stated that payments made by commercial vessels to Iran’s Strait of Hormuz transit authority could be reclaimed from Iranian assets, escalating tensions over control of this crucial waterway. Despite claims of closure by the PGSA, U.S. Central Command affirmed that the Strait remains open for commercial shipping.
Arsenio Dominguez, secretary-general of the IMO, stressed there’s no commercial justification for endangering seafarers’ lives. He warned that the Strait of Hormuz is unsafe for navigation and urged thorough risk assessments. With rising incidents and an unstable geopolitical climate, he emphasized that safety must always be the top priority for all stakeholders.
On Tuesday, a cargo ship off Yemen’s coast exchanged gunfire with six armed individuals in a piracy incident, differing from typical Houthi attacks involving drones. The ship’s Armed Security Team repelled the attackers, who fled. Authorities are investigating, as piracy concerns linger in the Gulf of Aden, despite recent reductions.
Two crew members are missing and one injured after the U.S. military disabled the tanker M/T Settebello in the Gulf of Oman. This incident marks the first seafarer casualties amid the maritime blockade against Iran. It raises safety concerns for civilian operations in the increasingly volatile Strait of Hormuz.
The Secretary-General of the International Maritime Organization, Arsenio Dominguez, condemned the attack on the tanker MT SETTEBELLO near the Strait of Hormuz, which left three seafarers missing. He stressed the importance of protecting seafarers and civilian shipping, emphasizing that actions affecting international shipping must comply with international law.
CMA CGM’s Chairman and CEO, Rodolphe Saade, warned against assuming the Strait of Hormuz will revert to its pre-war conditions, calling such optimism “unwise.” With ongoing conflicts stranding vessels and disrupting operations, the company is exploring alternative transport routes, incurring significant costs and adapting to a volatile geopolitical landscape.
The Korean Register (KR) has partnered with Microsoft Korea to develop an AI-driven digital ship classification system, enhancing innovation in shipbuilding. The memorandum of understanding marks a significant expansion from cloud migration to AI advancements, focusing on data-driven classification, generative AI, and new digital business models to boost global competitiveness.
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%.
