Transit or no transit – that’s the question
Transit or no transit – that’s the question
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International Shipping News
27/04/2026
S
ince 13 April, the challenge for vessels to enter or leave the Middle East Gulf has been complicated significantly. While in the first 1.5 months of the conflict the full focus was on the Strait of Hormuz, the targeted US blockade on Iranian or Iran-related vessels is geographically much less specific.
Accordingly, we have to differentiate two distinct and operationally independent blockades:
• Iranian de facto closure of the Strait of Hormuz enforced by the IRGC since 28 February,
• A US naval blockade of Iranian ports initiated by CENTCOM on 13 April, which is not necessarily implemented close to Iranian ports nor within the Strait of Hormuz, but flexibly around an area about 300miles to the West between the Pakistani/Iranian border and the most eastern “corner” of Oman.
These two instruments target different actors, operate under different legal frameworks, and have different geographic reach. An
Dry Bulk Market Trending Higher
Dry Bulk Market Trending Higher
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Dry Bulk Market
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International Shipping News
27/04/2026
C
apesize
The market began the week with strong upward momentum, briefly pushing the BCI 182 5TC to the cusp of $39,000, supported primarily by strength in the Atlantic basin. Early gains were driven by a firm C3 market and a tightening ballaster list, particularly for May dates, while fronthaul activity provided a notable boost.
However, this initial strength proved difficult to sustain. Divergence between basins became increasingly apparent, with the Pacific coming under pressure as C5 rates trended down from the mid $13s to $13 levels despite consistent, albeit not aggressive, miner participation.
Xeneta Weekly Ocean Container Shipping Market Update: Rates Softening
Xeneta Weekly Ocean Container Shipping Market Update: Rates Softening
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International Shipping News
27/04/2026
The softening of container shipping rates on the European trades should not be read as a sign that the market is returning to normal. The Strait of Hormuz remains effectively closed to container shipping,
Xeneta analyst insight
Peter Sand, Xeneta Chief Analyst
“Conflict in the Middle East forced carriers to build entirely new service networks with little to no warning, including rerouting via land bridges such as Jeddah and alternative ports on the Indian Ocean coastline. On the European ocean container shipping trades, these new routing patterns are now established and carriers have reorganised capacity, meaning freight rates are easing from the spike in the immediate aftermath of conflict.
“Compared to one month ago, average spot rates from Far East are down −6% to North Europe and -13% to Mediterranean.
“The softening on the European trades should not be read as a sign tha
Working Group On GHG Makes Positive Progress Before Climate Talks Next Week And Engagement Shows The Net Zero Fund Is A High Priority To Many Member States
Working Group On GHG Makes Positive Progress Before Climate Talks Next Week And Engagement Shows The Net Zero Fund Is A High Priority To Many Member States
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International Shipping News
27/04/2026
Readout from UCL Shipping and Oceans Research group shows IMO’s Intersessional working group on GHGs has made good progress on a range of important debates and guidelines, that all relate to the implementation of the IMO’s Net Zero Framework (NZF). If adopted, these guidelines provide the finer detail important for both the industry and member states to understand how the various components of the framework will operate in practice.
Relative to the implementation detail that was available in October 2025 at the MEPC Extraordinary Session meeting, at which a decision was made to adjourn/defer the adoption decision for 12 months, there is now a much better clarity of how the NZF could operationalise. This means there is now more mature evidence base from which to assess how the NZF will create
Drewry: Intra-Asia Container Index Gained 2%
Drewry: Intra-Asia Container Index Gained 2%
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International Shipping News
27/04/2026
Drewry’s Intra-Asia Container Index (IACI) continued strengthening on the back of the US-Israel conflict with Iran, gaining 2% to reach $890 per 40ft container.
Intra-Asia Container Index assessment for 24 Apr 2026
• Drewry’s Intra-Asia Container Index (IACI), a weighted average of weekly spot rates across 18 major trade routes within Asia, continued strengthening on the back of the US-Israel conflict with Iran, gaining 2% to reach $890 per 40ft container. The rates are currently 26% higher than last year.
About Intra-Asia Container Index
Drewry’s Intra-Asia Container Index (IACI) reports actual spot container freight rates for major intra-Asia trade routes. The Index, which will be updated weekly (from 02 Jan 26), consists of 18 route-specific indices representing individual shipping routes and a composite index.
Economic Fury Targets Global Network Fueling Iran’s Oil Trade and Shadow Fleet
Economic Fury Targets Global Network Fueling Iran’s Oil Trade and Shadow Fleet
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International Shipping News
27/04/2026
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned China-based independent teapot refinery Hengli Petrochemical (Dalian) Refinery Co., Ltd. China-based independent teapot refineries continue to play a vital role in sustaining Iran’s oil economy, and Hengli is one of Iran’s largest customers for crude oil and other petroleum products, having purchased billions of dollars’ worth of Iranian petroleum.
Global Shipping Climate Deal Edges Closer: IMO Member States Urged to Hold Line
Global Shipping Climate Deal Edges Closer: IMO Member States Urged to Hold Line
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International Shipping News
27/04/2026
Ahead of this week’s meeting of the International Maritime Organization’s Marine Environment Protection Committee (IMO, MEPC 84, April 27-May 1), the Clean Shipping Coalition welcomed progress made during this week’s intersessional meeting and called on member states to “hold the line against those looking to once again disrupt and delay” on the IMO’s Net-Zero Framework (NZF).
The coalition is also calling for the meeting to expedite work on the revision of the IMO’s flag-ship energy efficiency measure, the Carbon Intensity Indicator (CII), for adoption of the North East Atlantic Emission Control Area, and for progress to be made on addressing the impact of plastic marine litter.
Net Zero Framework
The IMO’s Net-Zero Framework is aimed at reducing greenhouse gas (GHG) emissions from ships, in line with the 2023 GHG Strategy. The NZF includes a global fuel standard (
HV Power (3.3–11 kV)
Sub-topic · 10 min read · ETO & Electrical ETO → Fundamentals, Safety & Distribution Operation Group: ETO / Electrical Engineering — High Voltage Distribution Primary Role: Operating, maintaining, and troubleshooting shipboard high-voltage networks at nominal voltages of 3.3 kV, 6.6 kV, and 11 kV. Interfaces: Chief Engineer, second engineer, ETO, qualified HV personnel, classification […]
Safety: LOTO, Arc-Flash & HV Work
Sub-topic · 9 min read · ETO & Electrical ETO → Fundamentals, Safety & Distribution Operation Group: ETO / Electrical Engineering — Safety Primary Role: Ensuring electrical isolation, hazard control, and safe working practice on energised systems from 230 V single-phase up to 11 kV three-phase. Interfaces: Chief Engineer, second engineer, ETO, electrical ratings, contractors, […]
Electrical Principles & Standards
Hub page · 18 min read · ETO & Electrical ETO → Fundamentals, Safety & Distribution Operation Group: ETO / Electrical Engineering — Fundamentals Primary Role: Establishing the working knowledge of electrical theory, marine standards, and classification rules that underpins every decision the ETO makes on board. Interfaces: Chief Engineer, second engineer, classification surveyors, manufacturer […]