Trump Says Iran’s Response to U.S. Peace Proposal is Unacceptable
President Donald Trump speaks with White House Chief of Staff Susie Wiles and Secretary of State Marco Rubio during military operations in Iran, at Trump’s Mar-a-Lago resort in Palm Beach, Florida, U.S. The White House/Social Media/Handout via REUTERS
Trump Says Iran’s Response to U.S. Peace Proposal is Unacceptable
Reuters
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May 10, 2026
By Nayera Abdallah (Reuters) – President Donald Trump on Sunday rejected Iran’s response to a
U.S.
Second Qatari LNG tanker Heads Through Hormuz to Pakistan as Iran War Continues, Data Shows
A photo taken on December 5, 2025, of Al Kharaitiyat vessel, which data shows it was sailing towards the Strait of Hormuz on Saturday, May 9, 2026, after departing Qatar’s Ras Laffan en route to Port Qasim in Pakistan, in this picture obtained from social media. Obtained by Reuters/via REUTERS THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. VERIFICATION: – Location not verified – Identity of the vessel confirmed as al kharaitiyat vessel by its structure, color and International Maritime Organisation (IMO) number which matched archive images – Date confirmed by the original files metadata
Second Qatari LNG tanker Heads Through Hormuz to Pakistan as Iran War Continues, Data Shows
Reuters
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May 11, 2026
By Marwa Rashad
LONDON, May 11 (Reuters) – A second Qatari liquefied natural gas tanker is transiting the Strait of Hormuz days after the first such cargo crossed under an arrangement involving Iran and Pakistan, highlighting how cargoes are crossing the waterway on a case-by-c
US, Iran Far Apart in Talks to End War and Reopen Hormuz
Iranian graphic shows alternative transit corridors near Larak Island, directing vessels away from traditional shipping lanes in the Strait of Hormuz amid reported mine risks.
US, Iran Far Apart in Talks to End War and Reopen Hormuz
Bloomberg
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May 11, 2026
By Salma El Wardany and Galit Altstein
May 11, 2026 (Bloomberg) –The US and Iran remain far apart on a framework to end their war and reopen the Strait of Hormuz, with President Donald Trump calling the Islamic Republic’s reply to his proposed peace plan unworkable.
Tehran demanded a lifting of the US naval blockade and sanctions relief, while maintaining a degree of control over traffic through Hormuz, according to a person familiar with the matter, who asked not to be identified discussing sensitive information.
Iran also insisted that any agreement must result in an immediate end to fighting, including in Lebanon, where Israel is waging a parallel war against militant group Hezbollah, the person said.
“Everything we
NORDEN Warns Hormuz Disruption Is Creating a ‘Two-Tier’ Tanker Market
Oleksandr Kalinichenko / Shutterstock
NORDEN Warns Hormuz Disruption Is Creating a ‘Two-Tier’ Tanker Market
Mike Schuler
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May 11, 2026
Danish shipping giant D/S NORDEN says the ongoing
Persian Gulf conflict
and disruption to the Strait of Hormuz are having sharply different effects across global shipping markets, hammering dry cargo operations while sending tanker earnings soaring.
In its first-quarter 2026 interim report released Tuesday, NORDEN said the closure and disruption of the
Strait of Hormuz
directly impacted earnings through stranded vessels, surging bunker costs, and rapidly shifting trade patterns.
“Losses in Dry cargo were driven by regional positioning as well as the Persian Gulf conflict, which directly impacted earnings through the closure of the Strait of Hormuz and one-off regional bunker premiums,” the company said.
The company said six dry cargo vessels remain stuck inside the Persian Gulf, contributing to sharply higher operational and insurance cost
Fincantieri Raises 2026 Outlook as Backlog Hits Record
Image credit: Claudio Testa / Shutterstock.com
Fincantieri Raises 2026 Outlook as Backlog Hits Record
Mike Schuler
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May 11, 2026
Italian shipbuilding giant
Fincantieri
reported a record backlog and stronger profitability in the first quarter of 2026, underscoring continued strength in the cruise and naval shipbuilding markets even as defense revenues normalized from an unusually strong prior-year comparison.
The company said Monday its total backlog climbed to an all-time high of €74.2 billion, extending delivery visibility through 2039 and representing roughly 8.1 times 2025 revenue.
Fincantieri also raised its full-year 2026 guidance, now expecting revenue of €9.3-9.4 billion and EBITDA of €700-710 million, up from prior forecasts issued earlier this year.
“The first quarter of 2026 confirms the resilience and vitality of our growth trajectory,” CEO Pierroberto Folgiero said. “Commercial performance marks a new milestone, with an all-time record total backlog at euro 74
U.S. Navy Faces Rising Costs for Hormuz Missions With Strait Still Blocked
Arleigh Burke-class guided-missile destroyer USS Frank E. (DDG 121) sails in the Arabian Sea during Operation Epic Fury, March 18, 2026. Navy Faces Rising Costs for Hormuz Missions With Strait Still Blocked
Bloomberg
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May 11, 2026
(Bloomberg) — As long as the
Strait of Hormuz
remains unsettled, the US Navy faces millions of dollars in extra costs each time it sends a destroyer through the waterway, and such passages on their own are unlikely to reopen it.
The Navy voyages remain fraught, and the ships are accompanied by fighter jets and helicopters overhead, along with extra surveillance measures.
If the vessels need to defend themselves against Iranian attack — as three warships did during a transit on Thursday — the price tag could be even higher, involving missiles that cost up to $6 million each.
Although many of the operating costs are already covered by this year’s defense appropriations, the total for repeatedly escorting commercial shipping in and out of the Gulf
Aramco Ramped East-West Pipeline to Maximum as Hormuz Shipping Crisis Deepened
Luojiashan tanker sits anchored in Muscat, as Iran vows to close the Strait of Hormuz, amid the U.S.-Israeli conflict with Iran, in Muscat, Oman, March 7, 2026. REUTERS/Benoit Tessier
Aramco Ramped East-West Pipeline to Maximum as Hormuz Shipping Crisis Deepened
Mike Schuler
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May 11, 2026
Saudi oil giant Saudi Aramco says the
Strait of Hormuz
disruption has become a stark reminder of how dependent the global economy remains on reliable energy supplies, with the company revealing it ramped its East-West Pipeline to maximum capacity during the crisis to keep crude flowing to global markets.
In its first-quarter 2026 earnings release published Sunday, Aramco said its 1,200-kilometer East-West Pipeline reached its full capacity of 7 million barrels per day during the quarter, allowing the company to reroute exports away from the Persian Gulf and continue shipments via Saudi Arabia’s Red Sea coast.
“Recent events have clearly demonstrated the vital contribution of oil and gas
Trump rejects Iran’s response to latest US proposal to end the war
Trump rejects Iran’s response to latest US proposal to end the war
in
World Economy News
11/05/2026
Iran sent its response to the latest U.S. proposal to end the Iran war via Pakistani mediators on Sunday, but U.S. President Donald Trump quickly rejected it in a social media post as “TOTALLY UNACCEPTABLE!” — the latest setback to efforts to resolve the standoff in the Persian Gulf that has throttled shipping and sent energy prices soaring.
Iranian state television reported that Tehran rejected the U.S.
China inflation beat estimates in April as Iran war drives producer prices to three-year highs
China inflation beat estimates in April as Iran war drives producer prices to three-year highs
in
World Economy News
11/05/2026
China’s producer prices rose at their fastest pace in more than three years in April, while consumer inflation also beat forecasts, as Iran war-driven commodity costs and holiday spending delivered a broader reflationary boost to the economy.
Consumer prices ticked up 1.2% in April from a year earlier, beating economists’ estimates of 0.9% growth in a Reuters poll, and accelerating from a 1% rise in March, according to data released by the National Bureau of Statistics on Monday.
The producer price index jumped 2.8% from a year ago, the highest since July 2022, beating economists’ forecast of 1.6%, and accelerating sharply from 0.5% in March, according to LSEG data. The surge came after factory-gate prices returned to growth in March after three years of declines, ending the longest deflationary streak in decades.
Price growth has been aided by a jump in globa
Pakistan slashes Gwadar Port’s tariff rates to attract global shipping amid Iran war disruptions
Pakistan slashes Gwadar Port’s tariff rates to attract global shipping amid Iran war disruptions
in
Port News
11/05/2026
Maritime Affairs Minister Junaid Anwar Chaudhry announced sweeping tariff reductions at Gwadar Port on Monday, as another transshipment vessel arrived at the port amid disruptions in the Strait of Hormuz passageway due to the ongoing conflict between the US and Iran.
Iran has maintained a chokehold on the Strait of Hormuz since February, through which roughly 20 percent of the world’s oil and gas supplies pass, when the US and Israel launched joint strikes against Tehran. Pakistan has seen a surge in its port activity over the weeks, as vessels divert from Gulf transshipment hubs and head to the South Asian country.
The deep-sea port in southwestern Gwadar city received its second transshipment vessel of the month on Monday morning. MV Yuan Hang Wei Ye berthed at Gwadar Port, carrying approximately 34,000 tons of cargo comprising around 20,000 pieces, the maritime af