Shipping’s $180 Billion Push Into Dual-Fuel Ships Shows No Signs of Slowing
TOTE’s LNG-powered containership Isla Bella. Photo courtesy TOTE
Shipping’s $180 Billion Push Into Dual-Fuel Ships Shows No Signs of Slowing
Mike Schuler
Total Views: 0
May 14, 2026
The global liner shipping industry’s investment in
alternative-fueled vessels
continues to accelerate, with the combined fleet of dual-fuel containerships and vehicle carriers surpassing 1,200 vessels delivered or on order, according to new data released by the
World Shipping Council
.
The industry group’s latest Dual-Fuel Fleet Dashboard shows 440 dual-fuel vessels now operating worldwide as of March 2026, marking a 65% increase from a year earlier. Another 764 ships remain on order, bringing the combined delivered and contracted fleet to 1,204 vessels representing more than $180 billion in private-sector investment.
The latest figures highlight how container shipping continues leading the maritime industry’s energy transition despite lingering uncertainty surrounding future fuel availability, infrastructu
West reports record free reserves and combined
West reports record free reserves and combined
in
Marine Insurance P&I Club News
14/05/2026
West of England P&I Club (West) is pleased to report another year of strong financial performance, underpinned by disciplined underwriting, robust capital management, and the continued trust and support of its Members.
The combined ratio for the 2025-26 financial year was 98.0%, an improvement on the prior year’s 103.9%. The Club’s own claims were below their expected position, and the share of Pool claims was close to the budgeted level, assisted by West’s recent positive Pool performance.
The Board’s primary operating performance measure, a three-year average combined ratio below 100%, has again been met at 98.8%, demonstrating consistent and strong technical performance.
West’s investment portfolio delivered a return of 7.9%, generating USD 65.0m, its strongest investment result in over ten years. With all asset classes contributing positively, this performance, together with the underwriting
Wilson Sons launches new tugboat to operate in the Port of Santos
Wilson Sons launches new tugboat to operate in the Port of Santos
in
Port News
14/05/2026
On Wednesday, May 13th, Wilson Sons, a port and shipping logistics operator with over 188 years of experience, held the launch ceremony of WS Capella, the second tug of a new range of three high-powered tugboats.
Just like WS Halcyon, baptised in January this year, WS Capella was built at the company’s shipyard and is also an ASD 2312 class tug (23 metres long, 12 metres wide). With azimuth thrusters, 70-ton bollard pull, and capacity to handle the largest ships operating in Brazil during docking and undocking manoeuvres, the new vessel will operate in the Port of Santos, the largest port complex in Latin America. Its modern design allows for reduced fuel consumption, which directly contributes to lower emissions.
ABS and HHI Sign MOU to Advance Innovative Technologies in Maritime and Offshore
ABS and HHI Sign MOU to Advance Innovative Technologies in Maritime and Offshore
in
International Shipping News
14/05/2026
ABS and HD Hyundai Heavy Industries Co., LTD. (HHI), have signed a memorandum of understanding (MOU) to collaborate on a range of initiatives supporting sustainability, digital innovation and operational resilience in the maritime and offshore sectors, with a particular emphasis on accelerating the development of next-generation energy solutions.
Under the MOU, ABS and HHI will explore opportunities to support the development of solutions that address decarbonization, digital transformation and evolving operational requirements across the global ocean energy landscape.
The scope of cooperation encompasses a wide range of strategic focus areas, including offshore wind development, offshore substations, small modular reactors (SMRs), offshore spaceport infrastructure, and carbon capture and storage (CCS) value chain solutions, alongside enabling digital technologies
Record High Tanker Rates Boost Teekay Tankers’ First Quarter Results
Record High Tanker Rates Boost Teekay Tankers’ First Quarter Results
in
International Shipping News
14/05/2026
Teekay Tankers Ltd. reported the Company’s results for the quarter ended March 31, 2026:
First Quarter of 2026 Compared to Fourth Quarter of 2025
GAAP net income and non-GAAP adjusted net income for the first quarter of 2026 increased compared to the fourth quarter of 2025, primarily due to higher average spot tanker rates, partially offset by the sales of four vessels during the fourth quarter of 2025 and the first quarter of 2026.
First Quarter of 2026 Compared to First Quarter of 2025
GAAP net income and non-GAAP adjusted net income for the first quarter of 2026 increased compared to the same period of the prior year, primarily due to higher average spot tanker rates and the acquisitions of six vessels between the second quarter of 2025 and the end of the first quarter of 2026, partially offset by the sales of 13 vessels between the start of the first quarter of 2025 and th
Ship is reported seized off the coast of the UAE and is heading toward Iran
Ship is reported seized off the coast of the UAE and is heading toward Iran
in
International Shipping News
14/05/2026
A ship anchored off the east coast of the United Arab Emirates has been seized and is heading toward Iranian waters, the British military said Thursday.
The United Kingdom Maritime Trade Operations center said it received reports that the vessel was taken by unauthorized personnel while anchored 38 nautical miles (70 kilometers, 44 miles) northeast of the UAE port of Fujairah, near the Strait of Hormuz.
Indian authorities also announced Thursday that an Indian-flagged cargo ship sank off the coast of Oman after an attack sparked a fire aboard the vessel while it was en route from Somalia to Sharjah on Wednesday, without identifying who attacked the ship.
Seizures and attacks in Hormuz ongoing
The situation in the Strait of Hormuz, a critical waterway through which a fifth of the world’s oil used to pass through on a typical day, continues to capture the world’s attentio
First FSO Reference For Steelpaint’s Stelpant Opens The Door To Offshore Energy Market
First FSO Reference For Steelpaint’s Stelpant Opens The Door To Offshore Energy Market
in
International Shipping News
14/05/2026
Steelpaint has completed a pivotal coating trial aboard the FSO Topaz, marking the company’s first official reference on a Floating Storage and Offloading (FSO) unit.
The project also represents a major entry point for its MCPU (single component moisture cure polyurethane) coating technology in the offshore energy market, providing a field-tested alternative to conventional coating systems.
A 100µm Stelpant-PU-Zinc primer and a 200µm Stelpant Combination 300 test patch was applied to the FSO’s chain deck, an area prone to extreme mechanical stress, heavy abrasion and extensive impact damage from anchor chains and containers.
Test application of Steelpaint’s Stelpant to the chain deck of the FSO Topaz
Steelpaint China supervised the airless spray application during a scheduled drydock in April at the Huarun Dadong Dockyard (HRDD) in Shanghai, China.
According
PPA S.A.: Visit of a Delegation of leading Port and Shipbuilding Organizations from Israel to the Port of Piraeus
PPA S.A.: Visit of a Delegation of leading Port and Shipbuilding Organizations from Israel to the Port of Piraeus
in
Hellenic Shipping News
14/05/2026
In the context of the international Mare MED III Athens Conference 2026, held in Athens from 11 to 13 May 2026 under the auspices of Enterprise Greece, a meeting was held at the headquarters of PPA S.A. between executives of Piraeus Port Authority, led by the Deputy CEO of PPA S.A., Mr. Angelos Karakostas, and a high-level delegation from Israel, with the aim of strengthening Greek-Israeli cooperation in the fields of ports, shipping and infrastructure.
The delegation included, among others, Mr.
New Attacks Hit Ships Near Hormuz as Trump Discusses Iran With Xi
FILE PHOTO: China’s President Xi Jinping and US President Donald Trump visit the Temple of Heaven in Beijing on May 14, 2026. BRENDAN SMIALOWSKI/Pool via REUTERS/File Photo
New Attacks Hit Ships Near Hormuz as Trump Discusses Iran With Xi
Reuters
Total Views: 0
May 14, 2026
May 14 (Reuters) – U.S.
President Donald Trump
discussed the Iran war with China’s President Xi Jinping in Beijing on Thursday, while new attacks on vessels near the Strait of Hormuz brought a reminder of the costs of a prolonged stalemate, with peace talks stalled.
After Trump and Xi met, a White House official said the leaders had agreed that the strait should be open, and that Iran should never obtain nuclear weapons. China is close to Iran and the main buyer of its oil.
In an interview with CNBC in Beijing, U.S.
Hormuz Oil Flows Creep Higher as More Supertankers Exit
Oil tankers pass through the Strait of Hormuz, December 21, 2018. REUTERS/Hamad I Mohammed
Hormuz Oil Flows Creep Higher as More Supertankers Exit
Bloomberg
Total Views: 1
May 14, 2026
By Alex Longley, Weilun Soon and Julian Lee (Bloomberg) – The number of supertankers hauling unsanctioned oil through the
Strait of Hormuz
has shown signs of rising in recent days, offering limited relief to an oil market that’s suffered the largest supply disruption in history.
Four ships each hauling 2 million barrels of mostly-Iraqi crude have exited since May 10 — a rate close to 2 million barrels a day — according to vessel tracking data compiled by Bloomberg. Still, prior to the war, there were about 20 or so tankers of various sizes crossing the waterway daily.
Oil traders are monitoring Hormuz flows closely because the blockage of the waterway has already cut about a billion barrels from global supply.