Wirana Market Outlook Report Shows Ship Recycling Prices Hold Steady Despite Softer Steel Markets
Wirana Market Outlook Report Shows Ship Recycling Prices Hold Steady Despite Softer Steel Markets
in
International Shipping News
28/04/2026
Ship recycling prices across key recycling destinations have remained broadly stable despite weaker conditions in steel markets, cautious buying and pressure on steel prices, Wirana Shipping’s latest market outlook report has shown. The report points to a market in which ship recyclers are largely maintaining their prices even as demand for steel remains uneven and buyers remain selective. Prices offered by ship recyclers in India, Bangladesh and Turkey have continued at current levels, while Pakistan has emerged as the market most exposed to potential softening in the coming weeks.
The report highlighted a clear disconnect between weaker steel market sentiment and ship recycling pricing.
Russia-Linked LNG Carriers Head North After Reflagging, Signalling Arctic Fleet Expansion
Photo by VladSV / Shutterstock.com
Russia-Linked LNG Carriers Head North After Reflagging, Signalling Arctic Fleet Expansion
Malte Humpert
Total Views: 0
April 28, 2026
Four recently reflagged liquefied natural gas (LNG) carriers linked to new Turkish-controlled entities are heading north in the Atlantic, in what analysts say could mark a new push in Russia’s effort to expand its constrained export fleet.
Vessel tracking data shows
Kosmos
and
Merkuriy
steaming north off the coast of Portugal, while
Luch
and
Orion
are following currently off West Africa. In recent days
Luch
started signaling Murmansk as the intended destination.
The four vessels – formerly part of Oman’s Asyad Shipping fleet – were sold en bloc earlier this year for roughly $110 million, according to company disclosures and shipbroking sources. Since then, they have undergone multiple renamings, brief re-registration under the Indian Register of Shipping, and eventual transfer to the Russian flag and maritime register.
West Africa sees bunker demand surge amid Hormuz disruptions – Monjasa
West Africa sees bunker demand surge amid Hormuz disruptions – Monjasa
in
International Shipping News
28/04/2026
Disruptions in the Strait of Hormuz linked to the ongoing Middle East crisis are reshaping global bunker demand, with West Africa “seeing the impact first-hand,” according to bunker supplier Monjasa.
Bunker demand across West Africa has risen markedly since the Iran crisis began, with particularly strong activity reported in Walvis Bay, Namibia and Lomé, Togo.
“The increase is mainly driven by availability issues following disruptions at major bunker hubs such as Fujairah, UAE rather than more vessels re-routing,” Monjasa’s Middle East & Africa general manager Casper Borgen said.
“The bunkering situation in the Middle East is more stable now, but still not fully consistent,” a Middle East-based source said.
Earlier in April, fuel availability in Fujairah tightened amid constrained supply, strict scheduling, firm nominations, and potential delays in barge availability. The re
Trump’s Strait of Hormuz blockade hits Iran’s oil trade
Trump’s Strait of Hormuz blockade hits Iran’s oil trade
in
International Shipping News
28/04/2026
A US naval blockade cuts off Iran’s main source of hard currency by halting most of its oil exports. Will President Trump’s pressure force Tehran back to negotiations or widen the conflict?
How will Trump’s blockade of Iranian oil work?
After US-Iran peace talks in Pakistan collapsed at the weekend, US President Donald Trump said the US Navy would block ships entering or leaving any Iranian port or coastal facility via the Strait of Hormuz.
Until the war began in late February, a fifth of the world’s seaborne oil trade passed Hormuz, the narrow stretch of water between the Persian Gulf and the Indian Ocean.
If successful, the blockade would sever Iran’s main source of revenue by halting its nearly 2 million barrel-per-day oil export trade, which Trump is betting will force Tehran back to the negotiating table.
US officials said the goal was to strip Iran of leverage gained from its control
New requirement for Selective Catalytic Reduction (SCR) Systems enters into force on 1 May 2026
New requirement for Selective Catalytic Reduction (SCR) Systems enters into force on 1 May 2026
in
International Shipping News
28/04/2026
Recent changes to the SCR Guidelines have altered how NOx measurement accuracy is assessed for catalyst monitoring. The former ±5% accuracy requirement has been replaced by a more flexible but less clearly defined concept of “sufficient accuracy”. This update places greater responsibility on applicants to justify the performance and monitoring of the lifetime of NOx catalysts.
Key changes to the requirements for NOx measurements
The requirements for NOx measurement devices used to monitor catalyst condition and potential degradation have been amended.
LNG shipping stocks: Tired, but not beaten
LNG shipping stocks: Tired, but not beaten
in
International Shipping News
28/04/2026
The UP World LNG Shipping Index lost 4.75 points (2.15%) in Week 17–2026, closing at 215.86 points, while the S&P 500 gained 0.55%. The UPI has now declined for three consecutive weeks, though this does not signal the start of a bear market — the index is consolidating after its exceptional first-quarter run. Eight companies gained, eleven declined, and the median change was -0.33%.
Dire straits provide China’s shipbuilders great opportunities
Dire straits provide China’s shipbuilders great opportunities
in
Shipbuilding News
28/04/2026
Rising geopolitical tensions and growing energy security concerns are fueling a new wave of global demand for oil tankers, with Chinese shipbuilders primed and ready to fill orders.
Disruptions at key choke points such as the Strait of Hormuz, a critical oil shipping corridor in the Middle East, are pushing shipowners to expand their fleets and diversify transport routes.
Market watchers said shifting trade patterns are reshaping tanker demand, as changes in crude flows lengthen shipping routes even without a proportional increase in volumes.
Regulatory shifts and fleet renewal cycles are also adding to the need for new ships, with stricter environmental standards accelerating the replacement of aging vessels with more fuel-efficient ships, they said.
The multitude of factors are creating fresh market opportunities for Chinese shipbuilders given their strong delivery capacity, cost competitive
IMO’s Marine Environment Protection Committee convenes in London to discuss key ocean issues
IMO’s Marine Environment Protection Committee convenes in London to discuss key ocean issues
in
International Shipping News
28/04/2026
IMO Secretary-General Arsenio Dominguez opened the 84th session of the Marine Environment Protection Committee (MEPC 84), urging Member States to find convergence and make meaningful progress on the IMO Net-Zero Framework to cut global shipping emissions, and set an example of effective multilateralism.
The meeting will cover a range of environmental issues, including actions to address:
Reduction of greenhouse gas emissions from ships
Energy efficiency of ships
Ballast water management & biofouling
Marine plastic litter
Underwater radiated noise
See the full transcript of the Secretary-General’s opening remarks below:
“Good morning, distinguished delegates,
Welcome to the 84th session of the Marine Environment Protection Committee.
Situation in the Strait of Hormuz
Before turning to the work of this session, and further to my briefing to Member States
Different methods = different conclusions: why standard methods matter in EGCS assessments
Different methods = different conclusions: why standard methods matter in EGCS assessments
in
International Shipping News
28/04/2026
Claims about the potential environmental impact of exhaust gas cleaning systems (scrubbers) have become increasingly detached from the realities of how environmental risk is actually determined. That matters, because the methods used to assess evidence are as consequential as the evidence itself.
Across many of the arguments made against EGCS, a similar pattern emerges: assumptions of harm are drawn from the presence alone of certain substances in discharge water, from desk-top calculations, or from worst-case modelling, without full consideration of how environmental risk is assessed in real-world conditions. Understanding that distinction matters in regulation as much as it does in science.
Andreas Chrysostomou
Standard methods = consistent findings
The presence of metals and PAHs in discharge water does not in itself establish environmental harm.
Idemitsu Maru Tanker Carrying Saudi Oil Seeks to Cross Strait of Hormuz
An aerial view shows an oil factory of Idemitsu Kosan Co. in Ichihara, east of Tokyo, Japan November 12, 2021, in this photo taken by Kyodo. Picture taken on November 12, 2021.