Keywords: Shipping
Global oil shipping through the Strait of Hormuz has effectively halted after Iran’s Islamic Revolutionary Guard Corps declared the strategic waterway closed and threatened to attack any vessel attempting to pass, sending shockwaves through global energy markets. The crisis began on February 28......
European equities posted their steepest single day drop in months on Monday as investors reacted to the deepening military confrontation involving the United States, Israel, and Iran and its fallout for global trade and energy flows. The pan-European Stoxx 600 lost around 1.8 percent, while Germany’s......
Shipping data shows that at least 150 tankers, including crude oil and liquefied natural gas vessels, have been forced to anchor in open waters near the Strait of Hormuz. Dozens more remain stationary on the opposite side of the strategic chokepoint. The maritime congestion follows recent airstrikes......
Yemen’s Houthi movement announced plans to restart drone and missile attacks in the Red Sea and against Israel following coordinated U.S. and Israeli military operations inside Iran. Two senior Houthi officials confirmed to the Associated Press that preparations were underway, adding that retaliation......
Freight costs for transporting crude oil from the Middle East surged to their highest level in six years as exporters accelerated shipments while tensions escalate between the United States and Iran. The cost of chartering a very large crude carrier capable of carrying two million barrels from the Persian......
Türkiye is stepping up efforts to modernize its maritime sector through the launch of two major initiatives aimed at enhancing digital infrastructure and navigational safety. The projects, known as the Internet of Shipping and NAVDAT, are designed to strengthen sea communication systems and support......
European Union governments are struggling to seal agreement on a landmark twentieth package of sanctions against Russia, with a far‑reaching ban on maritime services for Russian oil tankers at the heart of the dispute as the anniversary of Moscow’s full‑scale invasion of Ukraine approaches......
The death toll from a ferry sinking in the Philippines has risen to 52 after divers recovered the body of a woman on Wednesday. The ferry, Trishna Kerstin 3, was carrying at least 368 passengers and crew when it capsized early on January 26 near Mindanao in the southwestern part of the country. Authorities......
Greece and Malta have pushed back against a proposed European Union ban on maritime services for Russian oil shipments, citing concerns about the impact on Europe’s shipping sector and energy prices. The objections were raised during a meeting of EU ambassadors held days after the European Commission......
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