Pacific International Lines Delivers Resilient Earnings in FY2025
Pacific International Lines Delivers Resilient Earnings in FY2025
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International Shipping News
29/04/2026
PIL Pte Ltd (“PIL” or the “Group”) today announced its financial results for the fiscal year ended 31 December 2025. The Group delivered net profit after tax of US$1.04 billion, underpinned by volume growth, high asset utilisation and strong cost management amid challenging market conditions. Group EBITDA amounted to US$1.50 billion with the container shipping business contributing US$1.47 billion.
2025 Financial Performance Highlights
PIL’s FY2025 results reflects the Group’s operational agility, disciplined financial management, and ability to deliver long-term value.
FarSounder Celebrates 25 Years of Innovation in Marine Navigation
FarSounder Celebrates 25 Years of Innovation in Marine Navigation
gCaptain
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April 29, 2026
FarSounder marks its 25th anniversary in 2026, celebrating a quarter-century of advancing marine navigation technology and improving safety at sea. Since its founding, the company has continuously evolved its 3D forward-looking sonar capabilities by learning from real-world operations and responding to customer needs, strengthening its role as an industry leader.
Built on a vision of safer, more environmentally responsible navigation, FarSounder pioneered 3D forward-looking sonar designed to help vessels detect submerged hazards and avoid groundings, oil spills, and ship strikes involving whales. Today, Argos systems deliver real-time awareness of the underwater environment ahead, enabling bridge crews to make more informed and confident decisions.
Collaboration and integration have been central to FarSounder’s success.
Farm commodities surge to two-year high on Hormuz closure
Farm commodities surge to two-year high on Hormuz closure
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Commodity News
29/04/2026
The extended closure of the Strait of Hormuz and extreme weather have pushed farm commodity prices to a two-year high, as fertilizer challenges and the prospect of smaller harvests drive food inflation risks.
The Bloomberg Agriculture Spot Index, which tracks 10 of the world’s top-selling crop products, has climbed for a third straight month to the highest since November 2023. This marks a shift from before the Middle East war, when most crop prices were weighed down by abundant inventory and bumper harvests.
Farmers from Asia to Australia to the US are facing converging challenges posed by the Iran war and drought, impacting prices of staple food products from bread to pasta and cooking oil.
Wheat and corn, both fertilizer-intensive crops, are among the most affected. Benchmark wheat futures on the Chicago Board of Trade have surged about 12% since the war erupted in late February, and hit the highe
Navy Awards HII $283 Million Contract to Kick Off FF(X) Frigate Construction
HII’s Ingalls Shipbuilding yard in Pascagoula, Mississippi, where the U.S. Navy’s new FF(X) frigate program will enter pre-construction under a newly awarded $283 million lead yard support contract. Photo courtesy HII/Ingalls Shipbuilding.
Navy Awards HII $283 Million Contract to Kick Off FF(X) Frigate Construction
Mike Schuler
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April 29, 2026
The U.S.
Trump Discusses Sustaining Iran Blockade for Months as Oil Prices Surge
Guided-missile destroyer USS Rafael Peralta (DDG 115) enforces the U.S. blockade of Iranian ports against M/T Stream after it attempted to sail to an Iranian port, April 26, 2026. Central Command Photo
Trump Discusses Sustaining Iran Blockade for Months as Oil Prices Surge
Reuters
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April 29, 2026
By Timothy Gardner
WASHINGTON/DUBAI/ISLAMABAD, April 29 (Reuters) – Donald Trump discussed how to mitigate the impact of a possible months-long U.S.
FMC Judge Orders OOCL to Pay $45.6 Million in Landmark Bed Bath & Beyond Shipping Case
An OOCL containership at the Port of Long Beach. Photo: Richard H Grant / Shutterstock.com
FMC Judge Orders OOCL to Pay $45.6 Million in Landmark Bed Bath & Beyond Shipping Case
Mike Schuler
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April 29, 2026
Three years after bankrupt retailer Bed Bath & Beyond
accused
Orient Overseas Container Line of auctioning off contracted vessel space to higher-paying cargo during the pandemic supply chain crisis, a Federal Maritime Commission administrative law judge has ordered the carrier to pay more than $45.6 million in reparations in a closely watched ruling with potentially broad implications for ocean shipping contracts.
In a 203-page initial decision issued April 24, Chief Administrative Law Judge Erin Wirth found OOCL violated multiple provisions of the Shipping Act, siding with claims brought by the retailer’s bankruptcy estate following Bed Bath & Beyond’s 2023 Chapter 11 filing and liquidation.
The ruling awarded $45.6 million in reparations, well below the $165 million
When GPS Fails: Why Maritime Needs Resilient Navigation
When GPS Fails: Why Maritime Needs Resilient Navigation
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International Shipping News
30/04/2026
Every day brings new reports of GPS interference affecting shipping, particularly in regions like the Persian Gulf. Less visible are the collisions, groundings, and near misses that follow when positioning becomes unreliable.
For an industry now built around continuous, high-accuracy satellite navigation, these are not isolated incidents. They’re early signals of a much broader vulnerability.
And without navigation and maneuvering solutions that allow safe operations even in the face of interference, maritime is going to see a lot more, and possibly a lot worse.
Chosen and implemented properly, systems to complement and backup GPS will not only make shipping safer, but will enable greater efficiencies and automation moving forward.
Danger at Sea
GPS has made maritime operations of all kinds safer and more efficient.
Firmer Sentiment / Ballasters Dropping below 12m avg: Ballasters Vs Baltic Rates
Firmer Sentiment / Ballasters Dropping below 12m avg: Ballasters Vs Baltic Rates
in
International Shipping News
30/04/2026
A
pril ends with firm sentiment in both Capesize and Panamax segments. On the C3 route, freight levels are supported by ballaster counts trending below the 12-month average. In Panamax, low ballaster availability across the P1/P2/P7 routes signals an undersupplied market, underpinning current rate strength.
The Baltic Dry Index is approaching 2,700 points, with gains recorded across all sub-indices: Capesize leading at +117.4% YoY, followed by Supramax +58.2%, Handysize +41.8%, and Panamax +40.9%.
FREIGHT ATLANTIC
Capesize C3 / Panamax P7 | Firmer
C3 Tubarao–Qingdao / P7 US Gulf–Qingdao grain
Capesize C3 / Panamax P7
C3 | Tubarao to Qingdao | 33.12 $/MT | Day: +0.09 | Week: -0.28 | Year: +13.27
P7 | US Gulf to Qingdao grain | 68.69 $/MT | Day: +0.01 | Week: -0.78 | Year: +22.37
Supramax S4A / Handysize HS4_38 | Firmer
S4A US Gulf trip to Skaw-Passero / HS4_38 US Gu
Daehan Shipbuilding lifts Q1 profit 18.5% as margins stay above 20%
Daehan Shipbuilding lifts Q1 profit 18.5% as margins stay above 20%
in
Shipbuilding News
30/04/2026
Daehan Shipbuilding posted an operating margin of 26.8% in the first quarter this year, maintaining a margin in the 20% range for six consecutive quarters. Sales were similar to a year earlier, but operating profit rose by double digits.
Daehan Shipbuilding said on the 29th that, on a consolidation basis, it logged first-quarter sales of 308.3 billion won and operating profit of 82.6 billion won. Compared with a year earlier, sales rose 0.2% and operating profit increased 18.5%.
The first-quarter operating margin is close to the all-time high of 27.2% recorded in the fourth quarter of last year.
Why EU countries should avoid carbon capture for gas power plants
Why EU countries should avoid carbon capture for gas power plants
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General Energy News
30/04/2026
Executive Summary
Gas-fired power plays a material role in the EU electricity system, accounting for 13% of net generation in 2025. While EU countries have rapidly built out renewable energy, gas will remain a significant source of the bloc’s power capacity and greenhouse gas emissions in the coming decades.
Despite this, there are currently few gas‑fired power stations in the EU that officially plan to use or retrofit carbon capture and storage (CCS) technology. This reflects the lack of commercial-scale gas CCS plants anywhere in the world as well as the underperformance of CCS projects for other applications in terms of capture rates, cost and delivery timelines.
Most potential European gas CCS projects are in the UK, where CCS subsidy support and accompanying legislation are much further progressed.