Shipping Industry News

Prices of Brent crude oil for second-month delivery traded higher on Wednesday than prices for prompt delivery for the first time since the Iran war started in late February, signaling increased near-term supply.

The United Kingdom’s specialist mine countermeasures force has arrived in the Middle East, marking a significant step toward restoring commercial confidence in the Strait of Hormuz as Western allies prepare...

Three stranded tankers carrying 5 million barrels of crude oil were exiting the Strait of Hormuz on Wednesday, with two heading to Asia, shipping data showed, as the interim deal between Iran and the U.S. unlocks more supply stuck in the Gulf, bringing down global prices.

One of the world’s biggest operators of supertankers has provisionally booked a vessel to transport oil from the Persian Gulf to India at nearly nine times benchmark rates, a price that reflects the shortage of avalable ships in the area.

The global marine insurance industry is cautiously welcoming recent diplomatic developments in the Strait of Hormuz as uncertainty continues over how the world’s most important energy chokepoint will be managed...

The International Maritime Organization is telling thousands of ships stranded in the Persian Gulf to stay put and await instructions as it begins evacuating thousands of seafarers trapped by months...

A container ship fire now occurs somewhere in the world roughly every 17 days, highlighting the persistent danger posed by misdeclared and undeclared dangerous cargoes, according to new data cited...

The global shipping industry is entering a new era defined by geopolitical tension, fragile supply chains and heightened uncertainty, according to Allianz Commercial, which warns that the relatively stable operating...

Oil exports from the United Arab Emirates in early June recovered to nearly 85% of the country’s pre-Iran war levels — rebounding even before Washington and Tehran inked an interim peace deal as the Gulf nation drew on pipelines, storage and alternate shipping routes, according to a report from the International Energy Agency.

Germany scrapped a landmark frigate program following delays and expected cost overruns, sending shares in the country's top defense firm Rheinmetall RHMG.DE, which was supposed to get the contract, into a tailspin on Wednesday.

Australian mining giant Fortescue has signed an agreement with Belgian shipping group CMB.TECH to charter up to 12 ammonia-capable Newcastlemax bulk carriers, in one of the largest commercial commitments yet to ammonia as a...

The global shipping industry continues to view geopolitical instability as its greatest business risk, according to the International Chamber of Shipping’s latest Maritime Barometer, with industry leaders warning that political...