S. Korea: Foreign ministry rejects Trump’s claim over Korean ship sailing alone in Hormuz
Korea: Foreign ministry rejects Trump’s claim over Korean ship sailing alone in Hormuz
in
International Shipping News
07/05/2026
The Ministry of Foreign Affairs on Thursday rebutted U.S. President Donald Trump’s assertion that a Korean-operated vessel was attacked as it was acting on its own without U.S. protection in the Strait of Hormuz — a focal point of the ongoing war between the U.S.
Seoul National University, San Diego State launch shipbuilding program to train US workforce
Seoul National University, San Diego State launch shipbuilding program to train US workforce
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Shipbuilding News
07/05/2026
As part of U.S.-Korea shipbuilding cooperation, a “naval architecture” major is expected to be newly established at a university in San Diego as early as early next year, and a plan to conduct credit exchanges with the Seoul National University Department of Naval Architecture and Ocean Engineering is being pursued, sources said on the 7th. Seoul National University would train personnel for the U.S. shipbuilding industry.
Seoul National University’s Department of Naval Architecture and Ocean Engineering is known as Korea’s top program for training shipbuilding professionals.
Trump Administration Launches Nuclear-Powered Shipping Push to Revive U.S. Maritime Industry
Transportation Secretary Sean Duffy a speaks during a press conference at the U.S. Department of Transportation in Washington, D.C., U.S., August 26, 2025. REUTERS/Brian Snyder
Trump Administration Launches Nuclear-Powered Shipping Push to Revive U.S.
House Labor Caucus Joins Growing Backlash Against Trump’s Jones Act Waiver Extension
Stock Photo: Igor Karasi / Shutterstock
House Labor Caucus Joins Growing Backlash Against Trump’s Jones Act Waiver Extension
Mike Schuler
Total Views: 0
May 7, 2026
Opposition to the Trump administration’s sweeping
Jones Act
waiver extension is continuing to widen, with top House labor lawmakers now joining a growing coalition of maritime unions, domestic operators, and industry groups warning the policy is undermining the U.S. shipping industry while failing to lower fuel prices.
In a statement released Thursday, Congressional Labor Caucus Co-Chairs Donald Norcross, Mark Pocan, Steven Horsford, and Debbie Dingell blasted the administration’s decision to extend the emergency waiver another 90 days.
“We stand with American mariners who protect our nation’s industrial and shipping capacity,” the lawmakers said. “Their mission is both an economic and national security imperative.”
The waiver, first introduced in March and now
extended
through mid-August, allows foreign-flag vessels to tra
Aframax Values and Earnings Reach Record Highs
Aframax Values and Earnings Reach Record Highs
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International Shipping News
08/05/2026
Fixed age values for eight-year-old Aframaxes stand at USD 75.17 mil, the highest levels ever seen, compared to USD 53.08 this time last year, equating to an increase of c.42%. This increase in values has largely been driven by a surge in earnings.
One-year VV spot Aframax TCEs have been hovering around all-time highs, having reached a peak of 158,000 USD/day and at the time of writing is 116, 429 USD/day. The TC market also follows a similar pattern.
Tight gas supply drives 27% jump in coal shipments to Japan, Korea and the EU
Tight gas supply drives 27% jump in coal shipments to Japan, Korea and the EU
in
Dry Bulk Market
,
International Shipping News
08/05/2026
“I
n April 2026, coal shipments to Japan, South Korea and the EU jumped 27% y/y as these countries seek alternative energy supplies to gas to meet their electricity demand. The closure of the Strait of Hormuz has disrupted LNG shipments out of the Persian Gulf and has contributed to an 8% y/y drop in global seaborne LNG shipments in April,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.
Coal shipments to Japan, South Korea and the EU typically slow down in April and May. This is tied to a seasonal decrease in electricity generation in Japan and South Korea due to lower demand for heating.
VLCC 5Y Tonnage Now Trades Above Newbuild
VLCC 5Y Tonnage Now Trades Above Newbuild
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International Shipping News
08/05/2026
O
ur Tanker Market Monitor this week reviews developments at the end of April, focusing on the ongoing disruption in the Strait as the war-driven deadlock continues unresolved for over 60 days.
We shift our attention to the Atlantic market, where the US Gulf (USG) basin is sending strong signals of increased oil exports to the Far East. Ballasters are moving there aggressively, outpacing laden tonnage. The spotlight now turns to asset price reactions, as market conditions are being compared with major historical oil shocks, with IEA commentary indicating the current disruption is larger in scale than previous major supply disruptions.
Spotlight | Asset Benchmark Assessments — NB vs 5Y & NB vs Resale
We take a closer look at the evolution of ship price assessment in the crude carrier segment.
PPA S.A.: 2025 Marked Record Results With Revenues of €250.8 million
PPA S.A.: 2025 Marked Record Results With Revenues of €250.8 million
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Hellenic Shipping News
08/05/2026
PPA S.A. presented its financial results for fiscal year 2025 to the Hellenic Fund and Asset Management Association at Euronext Athens. The presentation was delivered by Company executives, led by Deputy CEO Mr.
More Newbuilding Orders and S&P Activity in the Shipping Markets
More Newbuilding Orders and S&P Activity in the Shipping Markets
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Hellenic Shipping News
08/05/2026
A
ctivity remained strong in the newbuilding and S&P markets over the past few days. In its latest weekly report, shipbroker Banchero Costa said that in the newbuilding segment “in the container sector, China Merchants H.I. secured an order for 4 x 1,800 teu dual-fuel methanolready containerships from China Merchants Energy Shipping.
Capital Clean Energy Carriers Corp. Announces First Quarter 2026 Financial Results
Capital Clean Energy Carriers Corp. Announces First Quarter 2026 Financial Results
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Hellenic Shipping News
08/05/2026
Capital Clean Energy Carriers Corp., an international owner of ocean-going vessels, today released its financial results for the first quarter ended March 31, 2026.
Key Highlights
Completed an offering of €250.0 million in unsecured bonds with a seven-year maturity listed on the Athens Exchange (“ATHEX”)
Agreed to divest 49% stake in the LNG/C Amore Mio I, formed a Joint Venture company with an affiliate of the BGN Group and secured a 10-year time charter
Took delivery of our second LCO2/multi-gas carrier, the Amadeus
Brought forward the delivery of three LNG/Cs under construction
Announced a dividend of $0.15 per share for the first quarter of 2026
Board approved $20.0 million share buyback program
Management Commentary
Mr. Jerry Kalogiratos, Chief Executive Officer of CCEC, commented:
“During the first quarter, the Company continued to deliver on our strategy to bui