The Strait After the Ceasefire. Seven Weeks of Data from the Gulf’s Only Maritime Exit
Seven Weeks of Data from the Gulf’s Only Maritime Exit
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International Shipping News
25/04/2026
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XSMarine AIS-derived crossing data, collected continuously from 1 March through 21 April 2026, documents how the Strait of Hormuz has functioned – and who has been willing to use it – in the weeks since the conflict began.
From Stillness to Structure
When we published When the Gulf Went Still in early April, the defining feature of the Strait of Hormuz was absence. Crossings had collapsed to near zero in the first days of March. The 353 dry bulk and multipurpose vessels confirmed inside the Gulf by 5 March had nowhere to go.
Countries sideline Trump in moving forward on global shipping carbon price, at IMO technical talks
Countries sideline Trump in moving forward on global shipping carbon price, at IMO technical talks
in
International Shipping News
25/04/2026
Governments made progress on finalising technical elements in the Net-Zero Framework (NZF), the world’s first global carbon pricing on any polluter, at working group negotiations (ISWG-GHG-21) on 20-24 April in London.
The International Maritime Organization (IMO) debated the design and implementation of this key climate agreement, including clean energy and how to spend the $10-12bn/year worth of revenues.
At the ISWG-GHG-21, 62 countries, including in Africa, Europe, Asia, South America, and the Pacific, engaged constructively in developing various elements around the Framework’s guidelines. A majority of these countries (39) engaged specifically on the collection and distribution of revenues, which are made possible by the carbon price. These included countries who voted in favour of the delay in adoption or abstained in the vote last October.
Widening gap in container rates suggest shippers are uncertain; Strait of Hormuz closed
Widening gap in container rates suggest shippers are uncertain; Strait of Hormuz closed
in
International Shipping News
25/04/2026
Widening spreads between high and low costs for shipping containers on various trade lanes indicates uncertainty on both sides of the trade, largely because of the war in the Middle East, a market analyst said.
Lars Jensen, president of consultant Vespucci Maritime, said his focus is not just on the spreads, but in the changes of the spreads over the short term.
Jensen said the spread on the Asia-North Europe trade lane widened to $600/FEU (40-foot equivalent unit) from $500/FEU; the China-USWC spread grew to $800/FEU from $750/FEU; the southeast Asia-USWC widened to $1,260/FEU from just $850/FEU; the China-USEC grew to $980/FEU from $640/FEU; and the transatlantic westbound trade lane widened to $1,100/FEU from $840/FEU.
“This development indicates a market in which the stakeholders on both the buy and sell side are increasingly uncertain as to the conditio
The Week in Alt Fuels: Ambition won’t be enough
The Week in Alt Fuels: Ambition won’t be enough
in
International Shipping News
25/04/2026
The IMO’s Net-Zero Framework (NZF) faces threats not just from its opponents, but also from the procedural rules that govern its survival.
Next week, the IMO’s Marine Environment Protection Committee (MEPC) will take up the MARPOL Annex VI amendments that would introduce the NZF as a new Chapter 5.
Member states will debate implementation guidelines and when to reconvene the adjourned adoption vote, rather than adopting the framework itself.
A draft version of the NZF was approved at MEPC 83 in April 2025 and is technically now at the adoption stage. Its formal adoption was expected at an extraordinary MEPC session in October 2025, but member states voted 57–49, with 21 abstentions, to adjourn the vote by one year.
Calls to reopen and revise the draft text have raised questions of not only how many countries support it, but also which ones do.
A watered-down framework could be adopted. A stronger
Dry Bulk Shipping: Australian Iron Ore Exports On the Rise
Dry Bulk Shipping: Australian Iron Ore Exports On the Rise
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Dry Bulk Market
,
Hellenic Shipping News
25/04/2026
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he dry bulk market has been supported from a further increase of Australian iron ore exports during the first quarter of 2026. In its latest weekly report, shipbroker Banchero Costa said that “2025 was another positive year for global seaborne iron ore trade. In Jan-Dec 2025, global loadings of iron ore increased by +3.5% y-o-y to 1,732.0 mln tonnes, based on AXS Marine vessel tracking data.
BoE expected to hold rates as uncertainty persists, BofA says
BoE expected to hold rates as uncertainty persists, BofA says
in
World Economy News
25/04/2026
Bank of America expects the Bank of England to keep the Bank Rate on hold at 3.75% at its meeting next week, citing ongoing uncertainty about the duration and impact of the recent conflict on energy prices and economic growth.
The bank forecasts a 7-2 vote for holding rates, with Pill and Greene voting for a hike, though an 8-1 outcome is possible. In a note on Thursday, Bank of America analysts said it is too soon for the BoE to have enough evidence to act in response to the energy shock.
Comments from BoE Governor Bailey indicating he is in no rush to raise rates suggest the bar for an April hike is high, according to the report. Energy prices have fallen from recent highs, which is also likely to reduce urgency for action.
Bank of America expects the BoE to emphasize a wait and see approach as it gathers more evidence on the conflict’s economic impact.
Data since the March meeting has been
Hegseth Signals Mines Remain Key Obstacle to Full Hormuz Reopening
Secretary of Defense Pete Hegseth holds a briefing on the Iran war, amid a ceasefire between the U.S. and Iran, at the Pentagon in Washington, D.C., U.S., April 24, 2026. REUTERS/Kevin Lamarque
Hegseth Signals Mines Remain Key Obstacle to Full Hormuz Reopening
Mike Schuler
Total Views: 11
April 24, 2026
Defense Secretary Pete Hegseth on Friday publicly
reinforced
that mines remain a central obstacle to restoring confidence in the Strait of Hormuz.
In a Pentagon briefing focused largely on the expanding
U.S.
Panama Canal Pushes Back on ‘Line Jumping’ Claims as Auction Slot Prices Surge
Photo: evenfh / Shutterstock
Panama Canal Pushes Back on ‘Line Jumping’ Claims as Auction Slot Prices Surge
Lori Ann LaRocco
Total Views: 0
April 24, 2026
By Lori Ann LaRocco – Panama Canal authorities are trying to debunk the misconception that auction slots are a free pass to cut the line.
“People are saying, if you buy an auction slot, it allows you to come in at the last minute and jump the line,” said Victor Vial, CFO of the Panama Canal Authority (ACP). The auction gave them a slot that was already accounted for to transit that day.”
Three auction slots are reserved daily to accommodate segments like LPG and LNG that need space on short notice.
Yumiko Casiano, revenue management team leader at the Panama Canal, explained to gCaptain that canceled bookings are then added to the list of auction slots. Three to five auction slots can be available daily.
“The change was made to ensure transparency and fairness in determining priority and pricing through an auction system, rather than
India Mulls Options On Iran Port Stake Before Sanctions Kick In
Stock Photo: Photo Tripper92/Shutterstock
India Mulls Options On Iran Port Stake Before Sanctions Kick In
Bloomberg
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April 25, 2026
By Sudhi Ranjan Sen and Mihir Mishra
Apr 25, 2026 (Bloomberg) –India is considering various options regarding its stake in the Chabahar port in Iran, including temporarily divesting from it, ahead of the expiry of a US sanctions waiver in coming days, officials familiar with the matter said.
New Delhi is holding separate talks with the US and Iran on how to proceed on its
$120 million investment in the port
, the people said, asking not to be identified because the discussions are private. One of the options is to temporarily transfer the stake to an Iranian entity, one of the officials said. India doesn’t plan to completely exit the port, the person said, since there are plans to expand connectivity at the harbor through a rail link.
Officials had been hopeful that the sanctions waiver, which is due to expire April 26, would be extended, but
France Reaffirms Efforts To Reopen Strait Of Hormuz
A French Navy boat patrols around the Mozambique-flagged oil tanker named Deyna, which France says is part of Russia’s shadow fleet, off the port of Marseille-Fos in the Gulf of Fos-sur-Mer, near Martigues, France, March 23, 2026. REUTERS/Manon Cruz
France Reaffirms Efforts To Reopen Strait Of Hormuz
Reuters
Total Views: 0
April 25, 2026
April 25 (Reuters) – French President Emmanuel Macron reiterated on Saturday that he was focused on efforts to reopen the
Strait of Hormuz
, a day after the head of
TotalEnergies
TTEF.PA warned of global energy shortages if the Iran war continues for months.
Macron, speaking at a news conference in Athens alongside Greek Prime Minister Kyriakos Mitsotakis, said panic caused by geopolitical uncertainty can in itself lead to shortages.
“Our goal is to achieve a full reopening in the coming days and weeks, in accordance with international law, guaranteeing freedom of navigation without tolls on the Strait of Hormuz. Then things can gradually return to nor