Paradip Port is advancing plans to become a green energy export hub, engaging with Japan’s Mitsubishi Gas Chemical Company and India’s ACME Group. Discussions focused on establishing a top-tier green fuel ecosystem, emphasizing a 10-year green methanol contract to enhance Odisha’s investment in sustainable energy initiatives and support global decarbonization efforts.
Traffic through the Panama Canal is significantly rising, fueled by disruptions in the Strait of Hormuz. According to BIMCO Shipping Analysis, transits have increased 8% year-over-year, particularly in the tanker sector, with vessel movements up 16%. This surge has strained capacity, leading to longer wait times and escalating slot prices.
The Visakhapatnam Port Authority’s FY 2025-26 trade data reveals remarkable growth, with exports increasing by 19.4% to 33.67 million tonnes, driven by demand for manufactured goods. Imports rose by 5.5%, totaling 57.45 million tonnes. Overall throughput reached a record 90.3 million tonnes, reflecting enhanced operational efficiency across various cargo types.
India is emerging as a crucial supplier of alternative fuel for Asian economies, particularly during the West Asia crisis. Diesel exports to Southeast Asia hit a seven-year peak in March 2026, driven by reduced Gulf output. India’s geographical advantage enables quicker deliveries, enhancing foreign exchange earnings and refinery margins.
India is enhancing warship exports to revamp its shipbuilding industry. The Ministry of Defense is expanding facilities in state-owned shipyards like Mazagon Dock and Garden Reach. This aligns with the SAGAR vision, fostering maritime ties with countries like Sri Lanka and Vietnam, while aiming to improve construction efficiency against competitors.
On December 12, U.S. authorities seized the M/T Skipper off Venezuela’s coast, shortly before a court-issued warrant expired. This operation underscores U.S. sanctions against Venezuelan oil, enforcing measures initiated in 2019. The seizure has heightened tensions between Washington and Caracas, with plans for further interceptions of sanctioned oil shipments.
Libyan oil exports are at a standstill due to a political standoff over the central bank and oil revenues. Despite this, some tankers have been authorized to load crude from storage facilities. The dispute, triggered by an attempt to overthrow the bank’s head, has significantly reduced oil production. Efforts are being made to resolve the issue, but disruptions in exports are likely to continue.
