Hormuz: The three pillars of rebalancing
Hormuz: The three pillars of rebalancing
in
International Shipping News
05/05/2026
We have now a full two months of the blockade of the world’s most important chokepoint for seaborne energy deliveries – the Strait of Hormuz. Brent and WTI have been on an upwards trend the last 10 days but are still roughly at just $110/b. How is this possible, given that initially about 18mbd of crude and products where blocked from reaching the markets?
The adjustments to supply, demand, flows and inventories are highly faceted and complex in the details, but overall the market has done its magic once again, and three pillars can be singled out as contributing most to the relatively stable market situation right now.
The Chinese miracle
The MEG pipeline rerouting
The Atlantic Basin supply surge
Vortexa data shows that Chinese oil imports – crude, condensates and all products including LPG/ethane – have peaked at 16.6mbd on 12 March (28-day moving average).
Evacuations Planned as Suspected Hantavirus Outbreak Traps 150 on Ship Off Cape Verde
Cruise ship MV Hondius docks off Cape Verde port, as passengers were not allowed off the ship, while health authorities investigated suspected cases of hantavirus aboard the vessel, in Praia Port, Cape Verde, in this screengrab obtained from a video, May 4, 2026. REUTERS TV via REUTERS
Evacuations Planned as Suspected Hantavirus Outbreak Traps 150 on Ship Off Cape Verde
Reuters
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May 4, 2026
GENEVA, May 4 (Reuters) – Medics were working on Monday to evacuate two people with symptoms of the deadly hantavirus after a suspected
outbreak
on a luxury cruise ship held off West Africa carrying mostly British, American and Spanish passengers, officials said.
Around 150 people were still stuck on the vessel after three people – a Dutch couple and a German national – died, and others fell ill, including a Briton who left the vessel and was being treated in South Africa, authorities added.
Hantavirus, which can cause fatal respiratory illness, can be spread when particles from rodent
China Orders Firms to Defy U.S. Sanctions in Escalation Over Iran Oil Trade
Photo credit: Shutterstock/Igor Grochev
China Orders Firms to Defy U.S. Sanctions in Escalation Over Iran Oil Trade
Bloomberg
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May 4, 2026
By Bloomberg News (Bloomberg) — China has ordered its companies to ignore US
sanctions
, an unprecedented act of defiance that threatens to trap a vast banking sector in the crossfire as tension rises between the world’s largest economies.
Beijing has often railed against unilateral sanctions and pronounced them illegitimate, but it has also quietly allowed its largest companies to comply with them, in order to avoid blowback on its own economy and to preserve access to the US financial system.
Saturday’s announcement — coming before a long-awaited meeting later this month between President Donald Trump and his counterpart Xi Jinping — signals a far more aggressive stance. Beijing has now directed companies not to abide by US sanctions on private refiners linked to the Iranian oil trade, including heavyweight Hengli Petrochemical (Dali
Coast Guard’s National Maritime Center Reopens—But Credentialing Backlog Could Stretch to a Year
Crew members from Coast Guard Station Cape May, N.J., prepare to assist the crew of the Coast Guard Cutter Dependable with mooring, Dec. Coast Guard Photo
Coast Guard’s National Maritime Center Reopens—But Credentialing Backlog Could Stretch to a Year
Mike Schuler
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May 4, 2026
The United States Coast Guard has resumed operations at its credentialing hub following the restoration of funding to the Department of Homeland Security, but the restart is unfolding under the weight of a backlog that could take months—if not longer—to unwind.
In a new update, the National Maritime Center (NMC) said it is returning to normal operations in a phased approach, prioritizing critical functions after the prolonged lapse in appropriations forced a shutdown of services. The system is back online, but it is far from caught up.
During the funding lapse, the NMC accumulated a backlog of more than 19,000 applications, with new submissions continuing to arrive even as processing slowed.
DNV: Port State Control – Q1 2026 Detention review and other updates
DNV: Port State Control – Q1 2026 Detention review and other updates
in
International Shipping News
05/05/2026
E
ffectiveness of safety management systems and fire safety readiness are still in focus for Port State Control (PSC) authorities. Our Q1 2026 review highlights key detention concerns, upcoming inspection campaigns, new procedures for PSC, and what ship operators should be addressing to reduce risk.
Introduction
PSC activity in the first quarter of 2026 confirms that enforcement remains firmly on the fundamentals:
Effective safety management system
Sound maintenance practices
Crew familiarity with critical systems
Detention statistics and newly announced inspection campaigns indicate that shortcomings in ISM implementation and fire safety remain the most significant compliance challenges for operators. Early awareness and targeted preparation are therefore essential to sustaining strong PSC performance amid an increasingly dynamic regulatory and geopolitical environment.
Q1 20
Shipping Awaits Clarity on ‘Project Freedom’ as Hormuz Risks Remain High
AH-64 Apache helicopters fly over the Strait of Hormuz, April 17, 2026, with multiple commercial vessels visible below, as U.S. Army crews maintain a persistent aerial presence to support freedom of navigation and monitor maritime traffic in the strategic waterway. Central Command Photo
Shipping Awaits Clarity on ‘Project Freedom’ as Hormuz Risks Remain High
Mike Schuler
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May 4, 2026
BIMCO is urging shipowners to keep their guard up in the Strait of Hormuz, warning that the overall security picture for commercial shipping is effectively unchanged despite U.S.
Stricken Russian LNG Tanker ‘Arctic Metagaz’ Anchored Off Libya After Two-Month Odyssey, Future Uncertain
Arctic Metagaz on April 6, 2026. (Source: Al-Unwan)
Stricken Russian LNG Tanker ‘Arctic Metagaz’ Anchored Off Libya After Two-Month Odyssey, Future Uncertain
Malte Humpert
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May 4, 2026
The burnt-out Russian LNG carrier
Arctic Metagaz
has been anchored off Libya’s eastern coast, potentially ending a two-month drift across the central Mediterranean, though uncertainty remains over how authorities will handle the stricken vessel.
Satellite imagery and maritime tracking data show the tanker holding position roughly 18 nautical miles north-northeast of Benghazi for several days, indicating Libyan authorities have succeeded in securing it after repeated failed towing attempts.
The development follows a chaotic period since early March,
when the vessel was reportedly hit by a Ukrainian sea drone while transiting about 150 nautical miles southeast of Malta. The blast forced the crew to abandon ship and left the 277-meter tanker adrift with a hazardous cargo of liquefied natural g
US-Iran Ceasefire Holds After Hormuz Clashes and UAE Strikes
AH-64 Apache helicopters fly over the Strait of Hormuz, April 17, 2026, with multiple commercial vessels visible below, as U.S. Army crews maintain a persistent aerial presence to support freedom of navigation and monitor maritime traffic in the strategic waterway. Central Command Photo
US-Iran Ceasefire Holds After Hormuz Clashes and UAE Strikes
Bloomberg
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May 5, 2026
By Eltaf Najafizada and Omar Tamo
May 5, 2026 (Bloomberg) –The fragile US-Iran ceasefire held Tuesday morning after a day of clashes involving shipping in the Strait of Hormuz and missile attacks against the United Arab Emirates.
Relative calm returned to the Persian Gulf after US and Iranian forces exchanged fire Monday and Tehran launched missiles and drones toward the UAE, in the worst flareup since the ceasefire began less than a month ago.
The violence erupted after US President Donald Trump announced “Project Freedom,” which he described as a humanitarian effort to guide neutral ships stranded in the
Ships Cluster Further From Hormuz Strait as Iran Widens Grip
Vessels in the Strait of Hormuz, Musandam, Oman, April 27, 2026. REUTERS/Stringer TPX IMAGES OF THE DAY
Ships Cluster Further From Hormuz Strait as Iran Widens Grip
Bloomberg
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May 5, 2026
By Weilun Soon (Bloomberg) — Hundreds of vessels were seen clustering near Dubai on Tuesday, as more ships moved away from a still-empty
Strait of Hormuz
in response to Iran’s efforts to widen its area of control.
A weeks-long ceasefire between the US and Iran has begun to look increasingly fragile, with the two sides exchanging fire as Washington said it had opened a passage through the waterway and CBS reported two American destroyers had crossed into the Persian Gulf.
Since Monday, nearly 60 vessels across different types sailed into an area off Dubai monitored by Bloomberg News — an unusually large number even for waters that have seen carriers clustering since the start of the war. At least 363 ships are currently in the area, according to their signals, compared with an average
U.N. Weighs Hormuz Sanctions as U.S. Pushes Resolution That Could Open Door to Force
A view of Iranian-flagged cargo ship Touska as USS Spruance (DDG 111) conduts its interception in a location given as the north Arabian Sea, in this screen capture from a video released April 19, 2026. CENTCOM/Handout via REUTERS
U.N. Pushes Resolution That Could Open Door to Force
Reuters
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May 5, 2026
PARIS, May 5 (Reuters) – U.N.