US House Foreign Affairs Committee Chair Warns of China Role in Argentina Contract Bid
Ships are moored at a port on the Parana River in Santa Fe, Argentina, December 21, 2020. REUTERS/Stringer
US House Foreign Affairs Committee Chair Warns of China Role in Argentina Contract Bid
Reuters
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May 21, 2026
BUENOS AIRES, May 21 (Reuters) – U.S. House Foreign Affairs Committee Chairman Rep. Secretary of State Marco Rubio of “Chinese malign influence” in a bid for a major contract in
Argentina
, according to a letter seen by Reuters.
The April 23 letter concerns an auction for a 25-year contract to dredge and operate Argentina’s Parana River, a vital waterway for most of the country’s agricultural exports, that Argentina estimates will reach $10 billion in investment.
The terms of the tender, which is in its final phase with a decision expected in the coming days, explicitly barred state-owned companies, preventing bids from Chinese firms.
But Mast alleged that China was attempting “to circumvent that choice through a private sector proxy.” There is “serious concer
Drewry: Container Spot Rates Continue Climb as Early Peak Season Gains Momentum
Stock Photo: Shutterstock/Avigator Fortuner
Drewry: Container Spot Rates Continue Climb as Early Peak Season Gains Momentum
Mike Schuler
Total Views: 0
May 21, 2026
Container freight rates
continued their upward march this week as carriers pushed ahead with higher pricing on major East-West trade lanes amid signs that the traditional peak shipping season is arriving earlier than usual.
According to the latest data from shipping consultancy
Drewry
, the Drewry World Container Index (WCI) rose 6% this week to $2,712 per 40-foot container, marking the third consecutive weekly increase in May.
The sharpest gains came on the Asia-Europe trade lane, where tightening capacity and rising Freight All Kinds (FAK) rates fueled a surge in spot pricing.
Freight rates from Shanghai to Rotterdam jumped 15% to $2,773 per FEU, while Shanghai-to-Genoa rates climbed 10% to $4,082 per FEU.
Drewry said only three blank sailings are currently scheduled on the Asia-Europe route for next week, signaling that
Media Release “First dedicated STS standard for dry bulk released by INTERCARGO as operations increase”
Media Release “First dedicated STS standard for dry bulk released by INTERCARGO as operations increase”
in
Dry Bulk Market
,
International Shipping News
21/05/2026
S
hip to ship (STS) transfers are an established part of dry bulk operations, and they are growing. As new trading areas and cargo flows emerge, STS operations are expanding into regions where port infrastructure or draft limitations make direct berth access impossible. However, the sector has been doing this without a dedicated standard.
In tanker shipping, STS activity is underpinned by established industry guidance.
HMS Dragon Transits Suez Canal Ahead of Potential Hormuz Security Mission
The Royal Navy’s HMS Dragon conducts a southbound transit of the Suez Canal ahead of operations in the Middle East, May 9, 2026. UK MOD © Crown copyright 2026
HMS Dragon Transits Suez Canal Ahead of Potential Hormuz Security Mission
Mike Schuler
Total Views: 6178
May 19, 2026
Royal Navy destroyer
HMS Dragon
has transited the Suez Canal and entered the Middle East ahead of a potential multinational mission aimed at reopening and securing the
Strait of Hormuz
, as Western nations accelerate military planning around the still-constrained waterway.
The deployment places the British Type 45 destroyer in position to support a future coalition operation focused on safeguarding commercial shipping and restoring freedom of navigation once conditions allow. British officials said the mission remains “strictly defensive” and would only move forward following a sustainable ceasefire.
HMS Dragon
left the UK in March
and previously operated in the Eastern Mediterranean before shifting east toward th
Ship Recycling Market Remains Subdued
Ship Recycling Market Remains Subdued
in
Hellenic Shipping News
21/05/2026
T
he ship recycling market was still subdued during the past week. In its latest weekly report, Best Oasis (
www.best-oasis.com
), a leading cash buyer of ships said that “the Indian market has softened this week, with sentiment under pressure due to the rising exchange rate and a more cautious economic outlook. Buyers remain less inclined to commit at current levels, as higher day-to-day costs, slower construction activity and weaker steel demand continue to affect overall buying appetite.
Iran and Oman Discuss Hormuz Toll Regime as Rubio Warns ‘It Can’t Happen’
An LPG gas tanker at anchor as traffic is down in the Strait of Hormuz, amid the U.S.-Israeli conflict with Iran, in Shinas, Oman, March 11, 2026. REUTERS/Benoit Tessier
Iran and Oman Discuss Hormuz Toll Regime as Rubio Warns ‘It Can’t Happen’
Bloomberg
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May 21, 2026
By Samy Adghirni, Flavia Krause-Jackson and Alan Katz (Bloomberg) — Iran is discussing with Oman how to set up some form of a permanent toll system that will formalize its control of maritime traffic through the Strait of Hormuz.
“Iran and Oman must mobilize all their resources both to provide security services and to manage navigation in the most appropriate manner,” the Iranian ambassador to France, Mohammad Amin-Nejad, said in an interview with Bloomberg in Paris on Wednesday.
“This will entail costs, and it goes without saying that those who wish to benefit from this traffic must also pay their share,” he said in Farsi, through an interpreter, adding that the system will be transparent. “And if today ther
WinGD Lands World-First Ethanol Engine Order for Vale Ore Carriers
Rendering of the new 325,000 DWT Newcastlemax ore carrier design that will feature the world’s first ethanol-fuelled WinGD two-stroke marine engines under long-term charter to Vale. Image credit: CSDC (China Ship Design & Research Center Co,.Ltd.
WinGD Lands World-First Ethanol Engine Order for Vale Ore Carriers
Mike Schuler
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May 20, 2026
Swiss engine designer WinGD has secured the maritime industry’s first confirmed order for ethanol-fuelled two-stroke engines powering ocean-going bulk carriers, marking another major milestone in shipping’s race toward alternative fuels.
The company announced Tuesday that two 325,000 DWT Newcastlemax ore carriers being built for Shandong Shipping Corporation will each be fitted with six-cylinder 6X82DF-M/E dual-fuel engines designed to operate primarily on ethanol. The vessels are being constructed in China at Beihai Shipbuilding and will operate under long-term charter to Brazilian mining giant Vale.
The order represents the first comme
Iran Draws New Maritime ‘Oversight Zone’ Across Strait of Hormuz
The crude oil tanker Odessa, carrying UAE crude after passing through the Strait of Hormuz with its Automatic Identification System transponder turned off, navigates the waters at Daesan port, where it is expected to discharge crude oil, in Seosan, South Korea, May 8, 2026. REUTERS/Kim Soo-hyeon
Iran Draws New Maritime ‘Oversight Zone’ Across Strait of Hormuz
Mike Schuler
Total Views: 3163
May 20, 2026
Iran’s self-declared Persian Gulf Strait Authority (PGSA) has published what appears to be the clearest geographic definition yet of the maritime zone it claims authority over in the
Strait of Hormuz
, escalating Tehran’s effort to formalize a permission-based transit regime through one of the world’s most critical shipping chokepoints.
In a new post on X, the PGSA said the Islamic Republic of Iran has defined the boundaries of its “Strait of Hormuz management supervision area” as extending from “the line connecting Kuh Mobarak in Iran and the south of Fujairah in the UAE in the east of
No Full Hormuz Flows Until First Half of 2027, UAE’s Oil Giant Says
FILE PHOTO: People walk past a logo of Abu Dhabi National Oil Company (ADNOC) during the annual energy industry event Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in Abu Dhabi, United Arab Emirates, November 3, 2025. REUTERS/Amr Alfiky/File Photo
No Full Hormuz Flows Until First Half of 2027, UAE’s Oil Giant Says
Reuters
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May 21, 2026
DUBAI, May 21 (Reuters) – Full oil flows through the Strait of Hormuz will not return before the first or second quarter of 2027, even if the Middle East conflict ended now, the head of the United Arab Emirates’ state oil firm ADNOC said.
The outlook is among the most pessimistic by top industry executives and underscores the prolonged economic impact of the
Iran war
which has triggered what the International Energy Agency has called the largest ever energy crisis because of the near-closure of the strait.
Iran has established de facto control over the waterway, a chokepoint for about a fifth of the world’s oil supply
Saudi $1 Trillion Wealth Fund Weighs Creating a Logistics Giant
Credit: Emre Akkoyun/Shutterstock
Saudi $1 Trillion Wealth Fund Weighs Creating a Logistics Giant
Bloomberg
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May 21, 2026
By Omar El Chmouri and Dinesh Nair
May 21, 2026 (Bloomberg) –Saudi Arabia’s sovereign wealth fund is considering consolidating transport and supply-chain assets to create a logistics giant that can attract foreign investment and better serve the kingdom’s trade hubs amid the upheaval caused by the
Iran war
.
The Public Investment Fund has held early-stage talks on combining parts of its sprawling portfolio of ports, rail and shipping assets into a single entity, according to people familiar with the matter. The enlarged firm could potentially evolve into a vehicle for multibillion-dollar investments across the logistics industry, the people said, asking not to be identified because the discussions are confidential.
The PIF could also look to eventually bring international investors into the business, including through an initial public offering, one of