U.S. Sanctions Iraq’s Deputy Oil Minister Over Alleged Iranian Oil Scheme
The Malta-flagged tanker Agios Fanourios I, an oil tanker that sailed through the Strait of Hormuz, arrives in Iraq’s territorial waters off Basra,Iraq April 17, 2026. Sanctions Iraq’s Deputy Oil Minister Over Alleged Iranian Oil Scheme
Mike Schuler
Total Views: 1
May 7, 2026
The
Trump administration
on Thursday escalated its economic campaign against Iran by sanctioning Iraq’s deputy oil minister and multiple militia-linked companies accused of helping Tehran smuggle oil and finance armed groups across the Middle East.
The sweeping action by the U.S. Treasury Department’s Office of Foreign Assets Control (
OFAC
) underscores Washington’s growing focus on illicit oil flows moving through Iraq at a time of heightened instability across Gulf energy markets and continued disruption to commercial shipping in the region.
At the center of the sanctions is Ali Maarij Al-Bahadly, Iraq’s Deputy Minister of Oil, who U.S.
Trapped in Hormuz: Indian Sailors Describe Nights of Missiles, Fear, and Hunger
Ships and boats in the Strait of Hormuz, Musandam, Oman, May 1, 2026. REUTERS/Stringer/File Photo
Trapped in Hormuz: Indian Sailors Describe Nights of Missiles, Fear, and Hunger
Reuters
Total Views: 0
May 7, 2026
MUMBAI, May 7 (Reuters) – Nightly explosions of drones and missiles terrified Indian sailor Tithi Chiranjeevi after his ship was stranded in Iran for more than a month by the
Strait of Hormuz
blockade caused by the Middle East conflict.
“Around 10 to 20 missiles struck every night. No one could sleep,” he told Reuters, describing conditions outside Iran’s port of Khorramshahr on his return home last week, after an arduous 15-day journey through Iraq, Armenia, and Dubai.
The 28-year-old had spent the previous six months working on the Iranian ship Ilda, carrying construction material to Dubai.
The vessel was one of 2,000 trapped in the vicinity of the 104-mile (17-km) waterway that normally carries a fifth of the world’s supplies of oil and liquefied natural gas (LNG).
Violence
Delfin Midstream Signs Additional Long-Term LNG Supply Agreement with Gunvor
Delfin Midstream Signs Additional Long-Term LNG Supply Agreement with Gunvor
in
Freight News
07/05/2026
Delfin Midstream Inc. and Gunvor Group announced today that Gunvor International B.V. Amsterdam, Geneva Branch (“Gunvor”), has entered into a long-term LNG Sale and Purchase Agreement (“SPA”) with Delfin LNG LLC (“Delfin LNG”), a subsidiary of Delfin.
Under the SPA, Delfin LNG will supply 0.3 million tonnes of LNG per annum to Gunvor on a free-on-board (“FOB”) basis at the Delfin FLNG1 facility, located 40 nautical miles off the coast of Louisiana, for 20 years.
Kalpesh Patel, Co-Head of LNG Trading and member of the Management Board of Gunvor, said: “We are very pleased to announce another long-term partnership with Delfin.
Australia Bans Liberian-Flagged Bulker From Ports Amid Crackdown on Crew Exploitation
Liberia-flagged tanker FPMC B Forever at the Port of Newcastle, Australia, where inspectors from the Australian Maritime Safety Authority detained the vessel after discovering crew wage violations and unlawful charges for potable water. Photo courtesy AMSA.
Australia Bans Liberian-Flagged Bulker From Ports Amid Crackdown on Crew Exploitation
Mike Schuler
Total Views: 0
May 7, 2026
Australia has banned another foreign-operated ship from its ports after inspectors discovered seafarers had been underpaid and unlawfully charged for drinking water, escalating a widening crackdown on labor abuses in global shipping.
The Australian Maritime Safety Authority (
AMSA
) said the Liberia-flagged bulk carrier
FPMC B Forever
, operated by Taiwan-based Formosa Plastics Marine Corporation, was detained in the Port of Newcastle on April 23 following a port state control inspection that uncovered multiple breaches of the Maritime Labour Convention (MLC).
Inspectors found the crew had been underpaid by n
Oil Shock Far From Over: Energy Giants Warn Global Fuel Supplies May Stay Tight for Months After Iran Deal
Luojiashan tanker sits anchored in Muscat, as Iran vows to close the Strait of Hormuz, amid the U.S.-Israeli conflict with Iran, in Muscat, Oman, March 7, 2026. REUTERS/Benoit Tessier
Oil Shock Far From Over: Energy Giants Warn Global Fuel Supplies May Stay Tight for Months After Iran Deal
Reuters
Total Views: 0
May 7, 2026
LONDON, May 6 (Reuters) – Oil supplies are set to tighten further in coming weeks even if the U.S. and Iran agree on a peace deal to end their
war
because it will take weeks for oil shipments to resume from the Middle East Gulf and reach refiners worldwide – so oil companies will continue to deplete storage tanks to meet peak summer demand.
The world has used temporary buffers – commercial stockpiles, oil in transit or held in storage at sea and emergency reserves – to offset the shock from the war in the Middle East.
Odfjell SE 1Q26 results: Solid operational performance amid market uncertainty
Odfjell SE 1Q26 results: Solid operational performance amid market uncertainty
in
International Shipping News
07/05/2026
Highlights – 1Q26
Odfjell’s strong safety performance continued amid a more challenging environment.
Four vessels are currently inside the Strait of Hormuz, one owned and three time chartered. All crew members are safe, and the shore team remains in close contact with each vessel to ensure their continued security.
Time charter earnings ended at USD 167 million, compared to USD 168 million in 4Q25.
TCE per day was USD 27,232 versus USD 27,978 in 4Q25. Weaker earnings also reflect initial negative effects from the conflict in the Middle East Gulf, including increased ballasting, rerouting, and higher provisioning and insurance costs.
EBIT of USD 46 million, compared to USD 53 million in 4Q25.
Net result contribution from Odfjell Terminals of USD 2.3 million, versus USD 1.8 million in 4Q25.
Net result of USD 32 million, compared to USD 38 million in the previous quarte
WISTA International introduces Associate Membership with collaboration high on Mid-Term Meeting agenda
WISTA International introduces Associate Membership with collaboration high on Mid-Term Meeting agenda
in
International Shipping News
07/05/2026
The WISTA International Executive Committee gathered in London from 17 – 19 April for its annual Mid-Term Meeting, with an agenda highlighting the role partnerships and collaboration continue to play in driving change in the maritime industry.
During the three-day programme, the Executive Committee met with WISTA International partners, including the International Maritime Organization (IMO) and the International Chamber of Shipping. Discussions focused on current and future collaborations, with an emphasis on increasing awareness of the importance of inclusion across industry projects.
WISTA International Executive Committee
Central to the outcomes of the Mid-Term Meeting was the approval of the WISTA International Associate Membership. This new level of membership will be open to corporate entities operating in the shipping, trading, logisti
Incat, Wärtsilä and Molslinjen Showcase Landmark Electric Ferry Project
Incat, Wärtsilä and Molslinjen Showcase Landmark Electric Ferry Project
in
International Shipping News
,
Shipping: Emission Possible
07/05/2026
Incat, Wärtsilä and Molslinjen have unveiled a new collaborative video highlighting one of the most significant electrification projects in the global maritime sector.
Premiered at the 2026 Shippax Conference in Italy, the video provides a first look at the world-leading technology and innovation behind three 129-metre battery-electric ferries currently under construction at Incat’s shipyard in Tasmania. Once delivered, the vessels will be the largest electric ferries operating in Europe.
The project brings together leading expertise in shipbuilding, propulsion technology and ferry operations, demonstrating what is now possible at scale as the industry accelerates toward low-emission maritime transport.
Incat Chairman Robert Clifford said the project represents a defining moment for the maritime industry.
“This project shows that large-scale, h
Samsung Heavy Industries picks TMC for four LNG carriers
Samsung Heavy Industries picks TMC for four LNG carriers
in
International Shipping News
07/05/2026
TMC Compressors (TMC) has been contracted by Samsung Heavy Industries (SHI) to supply the marine compressed air system to four LNG carriers that the South Korean shipyard is constructing for TMS Cardiff Gas Ltd.
TMC’s scope of supply is to provide instrument and service air compressors to each of the four LNG newbuildings. The compressors are energy efficient, single stage, oil-lubricated marine screw compressor that are designed and manufactured for continuous operation in high ambient temperatures.
TMC has not disclosed the value of the contract.
Hans Petter Tanum
“We have historically delivered a number of similar marine compressed air systems to both SHI and TMS Cardiff Gas. As our compressed air systems are designed to keep operating expenditure to a minimum, and is designed solely for marine and offshore applications, we have become a favoured supplier in the LNG segment,” says Hans
Steelpaint Completes Trial Coating On Mur Shipping Bulker
Steelpaint Completes Trial Coating On Mur Shipping Bulker
in
International Shipping News
07/05/2026
Steelpaint GmbH, the German manufacturer of high-performance single-component moisture cure polyurethane (MCPU) coatings, has completed a test coating on MUR Shipping’s 63,000dwt bulk carrier African Bari Bird.
The project marks a first reference for the company’s advanced Stelpant system on an Indian managed vessel and represents a significant step forward in the company’s strategy to penetrate one of the world’s most active bulk carrier markets.
Coatings work was carried out at China’s Zeme Shipyard during a scheduled drydocking in December, with trial coats applied to a cargo hold forward hatch coaming, corrugated bulkhead, lower stool and tank top.
According to Li Yinlong, the General Manager of Steelpaint China, MUR Shipping’s decision to trial the Stelpant system reflects the sector-wide challenge of keeping cargo holds protected against a relentless cycle of abrasion and corrosio