The global marine insurance industry continues to provide war risk coverage for vessels in the Persian Gulf and Red Sea, despite rising cancellations due to Middle Eastern conflicts. The International Union of Marine Insurance confirmed that insurers are monitoring the situation closely, affecting vessel traffic and global supply chains.
On Wednesday, a nationwide 24-hour strike by seafarers grounded ships across Greece, disrupting maritime traffic. Initiated by the Panhellenic Seamen’s Federation, the strike addresses the plight of sailors stranded in the conflict-ridden Middle East. Union officials warned against sending vessels into the area due to severe security risks.
The Andhra Pradesh Maritime Board and Visakhapatnam Port Authority have signed a Memorandum of Understanding to create a special purpose vehicle (SPV) for a National Mega Shipbuilding Cluster in Dugarajapatnam. This initiative, backed by a ₹19,989 crore budget, aims to enhance shipbuilding, repair, and maritime infrastructure in the region.
The Gulf region’s security situation endangers vessels in the Strait of Hormuz, prompting varied responses from the maritime industry. Major operators like Maersk have halted regional calls for crew safety, while some owners still navigate these risky waters. Industry bodies stress thorough risk assessments to prioritize seafarer wellbeing amid rising threats.
Around 20,000 seafarers and 15,000 cruise passengers are stranded in the Persian Gulf amid escalating conflict from the US-Israeli offensive against Iran, as reported by the UN’s International Maritime Organization. Greek seafarers have initiated a strike, urging the region’s designation as a war risk zone to facilitate repatriation.
Massterly, the autonomous shipping venture by Kongsberg Maritime and Wilhelmsen, has successfully supervised three vessels simultaneously from its Remote Operations Centre. This milestone, part of the Chief-to-Shore project, highlights the importance of changing operational mindsets and fostering trust between onshore and at-sea teams for effective remote operations.
U.S. and Australian LNG producers are grappling with supply challenges following Qatar’s production suspension due to regional tensions. Qatar, a key player supplying 20% of global LNG, has declared force majeure, impacting tanker shipments. While U.S. producers like Venture Global explore flexibility, existing contracts limit quick adjustments to meet rising demand.
In response to evolving security threats in the Persian Gulf, the Directorate General of Shipping has launched a 24/7 Quick Response Team. This initiative aims to provide timely assistance and support for Indian seafarers, reflecting the government’s commitment to their safety and well-being in potentially volatile maritime environments.
The Indian government is closely monitoring the escalating Middle East situation, as stated by Union Minister Sarbananda Sonowal. He assured that measures are in place to protect seafarers amid rising tensions, particularly after the killing of Iran’s supreme leader. The government remains in constant communication with relevant agencies to ensure safety.
MSC has declared “end of voyage” status for all shipments to Arabian Gulf ports amid rising tensions in the Middle East. Cargo will be redirected to the nearest safe port, incurring an $800 surcharge per container. Maersk is also adjusting its operations, considering contingency plans and implementing emergency surcharges.
Greek Seafarers’ unions are set to strike for 24 hours on March 5, demanding the safe return of mariners trapped in the Persian Gulf. They condemn shipowners for prioritizing profit over safety, exposing seafarers to perilous conditions amid escalating military tensions. The unions call for urgent action to protect lives and rights.
India has successfully repatriated 101 seafarers from West Asia and the Persian Gulf due to abandonment concerns. A 19-member quick response team, led by Capt. PC Meena, facilitated their evacuation from various locations. The initiative underscores India’s commitment to safeguarding its nationals amid regional tensions and ensuring compliance with maritime labor regulations.
Japanese shipping giant NYK Line has finalized the design of a new subsea cable-laying vessel to enhance Japan’s high-voltage direct current (HVDC) transmission network. This initiative, part of the RIGHT Project, aims to bolster offshore renewable energy infrastructure, receiving General Design Approval from ClassNK to ensure compliance with international standards.
Ship refuelling at Fujairah, a critical bunkering hub in the UAE, has slowed due to a fire linked to drone interception amid rising U.S.-Iran tensions. While some bunker deliveries are paused, operations continue. Prices have surged, prompting traders to consider alternatives in Asia and beyond as demand shifts.
QatarEnergy declared Force Majeure to its buyers after halting LNG production due to escalating conflicts involving Israel, the U.S., and Iran. Production ceased on March 2, 2026, following military strikes. The company remains committed to communication with stakeholders, emphasizing its crucial role in the global LNG market.
