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.
On Friday, the U.S. Treasury’s OFAC introduced a general license allowing the sale and delivery of Iranian crude oil already loaded onto vessels. This aims to relieve global energy market strain amid Middle East conflicts. The measure permits oil transactions without new purchases, maintaining sanctions on Iran’s revenue and specific regions.
Great Eastern Shipping Company (GE Shipping) has delivered its Kamsarmax dry bulk carrier, Jag Aarati, to new owners, following a sale agreement finalized in FY26’s third quarter. With this transaction, GE Shipping’s fleet now consists of 39 vessels, including 26 tankers and 13 dry bulk carriers, totaling 3.14 million dwt.
