Iran seizes vessel owned by Chinese security firm near Strait of Hormuz
Iran seizes vessel owned by Chinese security firm near Strait of Hormuz
in
International Shipping News
17/05/2026
Iran has seized a support vessel owned by a Chinese maritime security firm near the Strait of Hormuz, according to a Wall Street Journal report published on Saturday.
The incident marks the first known impoundment of a private security vessel since the onset of the conflict between the United States and Iran, signaling restrictions on transit permissions even for entities tied to Beijing.
The targeted ship, the Honduran-flagged Hui Chuan, is owned by Hong Kong-registered Sinoguards Marine Security.
According to company statements, Iranian authorities detained the vessel on Thursday, requesting a “documentation and compliance inspection by the relevant authorities” before escorting it into Iranian waters.
The vessel had been at anchor 38 nautical miles northeast of Fujairah, United Arab Emirates. In this region, strict port gun regulations require private security firms to s
Biofuel Bunker Snapshot: B30 prices gain in Rotterdam and Singapore
Biofuel Bunker Snapshot: B30 prices gain in Rotterdam and Singapore
in
International Shipping News
17/05/2026
Rotterdam and Europe
Rotterdam’s B30-VLSFO (POMEME) price has increased by $28/mt since Monday.
Conversely, the port’s conventional VLSFO price has remained steady during the week. Prima Markets’ assessed POMEME barge price has registered a small gain of around $4/mt over the same period.
Bunker suppliers delivering low-carbon advanced biofuel blends in Dutch ports can generate ZRE A tickets, which can, for example, be sold to conventional fuel suppliers. This helps subsidise the price in Dutch ports compared to other ports.
The price of these ZRE A tickets fell from €125/mtCO2e ($145/mtCO2e) to €115/mtCO2e ($134/mtCO2e) during the week, according to Prima Markets.
Shippers Hapag-Lloyd, CMA CGM Suspend Cuba Bookings After US Executive Order
People sit on a dock as the Hong Kong-flagged vessel Sea Horse, carrying some 200,000 barrels of Russia-origin fuel originally bound for Cuba, is anchored near the coast after arriving in Venezuelan waters, in Puerto Cabello, Venezuela March 28, 2026. REUTERS/Juan Carlos Hernandez
Shippers Hapag-Lloyd, CMA CGM Suspend Cuba Bookings After US Executive Order
Reuters
Total Views: 0
May 17, 2026
By Gus Trompiz, Christoph Steitz and Dave Sherwood
PARIS/FRANKFURT/HAVANA, May 17 (Reuters) – Shipping giants
CMA CGM
and
Hapag-Lloyd
HLAG.DE said on Sunday they had suspended all bookings to and from Cuba until further notice, with both citing a U.S. executive order issued on May 1, in the latest blow to the crisis-wracked island’s economy.
The temporary suspension of new orders by two of the world’s largest shipping companies could jeopardize as much as 60% of Cuba’s shipping traffic by volume, two sources with direct knowledge of the situation said – a fresh hit to a country already nearing coll
UAE says its decision to leave OPEC was a strategic economic move, not a political one
UAE says its decision to leave OPEC was a strategic economic move, not a political one
in
Oil & Companies News
18/05/2026
The United Arab Emirates’ decision to leave OPEC and OPEC+ was based on the country’s economic vision and not on politics, the country’s energy minister said on Saturday.
“This decision came following a comprehensive assessment of the national production policy and its future capabilities, and it is based solely on the national interest of the United Arab Emirates, its responsibility as a reliable energy supplier, and its unwavering commitment to maintaining market stability,” Suhail Mohamed Al Mazrouei said in a post on X.
The Emirates announced earlier this month it would depart the producer group OPEC, of which it was a member since 1967, before the UAE was even founded.
“This decision is not based on any political considerations, nor does it reflect the existence of any divisions between the United Arab Emirates and its partners,” Mazrouei said.
The exit “repres
Liquids supply developments in non-DoC countries
Liquids supply developments in non-DoC countries
in
Oil & Companies News
18/05/2026
In 2025, liquids supply from non-Declaration of Cooperation (non-DoC) countries is estimated to have increased by around 1.0 mb/d, year-on-year (y-o-y), to average 54.2 mb/d. The US accounted for the bulk of this increase, adding roughly 0.5 mb/d, y-o-y, driven by higher output from non-conventional NGLs and tight oil, as well as gains in the Gulf of Mexico. Tight oil alone expanded by 0.2 mb/d, almost entirely from the Permian Basin, supported by longer laterals and continued drilling and completion efficiency improvements.
VLCC Market Treading Carefully Amid Uncertainties
VLCC Market Treading Carefully Amid Uncertainties
in
Uncategorized
18/05/2026
Clean
LR2
The TC1 75kt MEG/Japan index continued along just under the WS550 mark this week.
A voyage west also saw the TC20 90kt MEG/UK-Continent index dipped by $112,000 to $10.76 million.
The TC15 80kt Mediterranean/East index came down another 11% to $8.73 million this week with the corresponding TCE dropping to $74,900/day on Baltic description round trip.
LR1
The TC5 55kt MEG/Japan index has been assessed consistently at the WS600 level all week.
A run west on TC8 65kt MEG/UK-Continent also remained stable at the $8.49 million mark.
MR
The TC17 35kt MEG/East Africa index dropped an incremental 8.5 points this week to WS726, this would generate $89,500/day on Baltic description round trip TCE.
On the UK-Continent, MR freight levels look to have stabilised having possibly reached a floor for the moment. The TC2 37kt ARA/US-Atlantic Coast index was assessed 3.4 points lower than last week at WS210, with the
A new toll on global energy: Can Iran permanently control the Strait of Hormuz?
A new toll on global energy: Can Iran permanently control the Strait of Hormuz?
in
International Shipping News
18/05/2026
Ten weeks into the war with Iran, the Strait of Hormuz remains largely closed. The ceasefire is officially holding, but occasional attacks on ships and installations continue. A difficult question is coming into focus: what if the strait never fully reopens?
Host Ed Crooks is joined by regular contributor Amy Myers Jaffe, Director of the Global Energy, Climate, and Sustainability Lab at NYU, alongside two guests.
Dry Bulk Market: Capesize Market on the Rise
Dry Bulk Market: Capesize Market on the Rise
in
Dry Bulk Market
,
International Shipping News
18/05/2026
C
apesize
The market enjoyed a convincingly firmer week overall, with sentiment steadily improving across both basins as reduced vessel availability and sustained cargo flow gradually shifted the balance back in owners’ favour. While the Pacific opened in a relatively stable and subdued manner, consistent miner presence on C5 throughout the week provided an important underlying floor to rates. Activity ultimately firmed midweek as fixtures pushed towards the high $15s, although charterer resistance re-emerged into Thursday amid a quieter Ascension Day-affected session, with rates easing back closer to $15.00.
Korean shipbuilders speed orders on LNG, tankers, lift margins
Korean shipbuilders speed orders on LNG, tankers, lift margins
in
Shipbuilding News
18/05/2026
Korea’s major shipbuilders have filled about half of their key order targets in just over four months this year. As the Middle East war drags on and momentum grows to reorganize energy supply chains, orders have continued for tankers and liquefied natural gas (LNG) carriers. Although some initially worried that the newbuilding market would slow this year after several years of large orders, global newbuilding orders in the first quarter rose 67% on the year to 36.9 million GT (gross tonnage), extending the uptrend.
◇ Order pace faster than last year
On the 11th, according to the shipbuilding industry, HD Korea Shipbuilding & Offshore Engineering, the intermediate holding company for HD Hyundai’s shipbuilding institutional sector, has won orders for 94 vessels worth $10.81 billion so far this year, achieving 46.4% of its annual target of $23.31 billion.
Liquids supply developments in non-DoC countries
Liquids supply developments in non-DoC countries
in
Oil & Companies News
18/05/2026
In 2025, liquids supply from non-Declaration of Cooperation (non-DoC) countries is estimated to have increased by around 1.0 mb/d, year-on-year (y-o-y), to average 54.2 mb/d. The US accounted for the bulk of this increase, adding roughly 0.5 mb/d, y-o-y, driven by higher output from non-conventional NGLs and tight oil, as well as gains in the Gulf of Mexico. Tight oil alone expanded by 0.2 mb/d, almost entirely from the Permian Basin, supported by longer laterals and continued drilling and completion efficiency improvements.