Tanker Market: Ton-Mile Demand Could Shift
Tanker Market: Ton-Mile Demand Could Shift
in
Hellenic Shipping News
28/04/2026
T
he existing blockade of the Hormuz Strait could be far reaching and have long-lasting effects in the tanker market, essentially increasing ton-mile demand. In its latest weekly report, shipbroker Intermodal said that “in the VLCC market, Basrah exports are one of the main short-term variables. Iraq is one of the largest Gulf crude suppliers into Asia, and Basrah is one of the main loading points for long-haul VLCC business on the Middle East Gulf to China route, which is reflected in Baltic’s TD3C benchmark framework.
Trump to Address Iran Proposal ‘Soon’ as Oil Rises Further
A 3D-printed miniature model depicting U.S. President Donald Trump and a map showing the Strait of Hormuz, also known as Madiq Hurmuz, are seen in this illustration taken March 26, 2026. REUTERS/Dado Ruvic/Illustration
Trump to Address Iran Proposal ‘Soon’ as Oil Rises Further
Bloomberg
Total Views: 0
April 28, 2026
By Arsalan Shahla and Eltaf Najafizada
Apr 28, 2026 (Bloomberg) –US President Donald Trump convened his national security team to discuss Iran’s proposal to end a war now in its third month and which has left thousands dead across the Middle East, as well as disrupted energy supplies.
Trump will address the matter “very soon,” White House Press Secretary Karoline Leavitt told reporters on Monday.
Wirana Market Outlook Report Shows Ship Recycling Prices Hold Steady Despite Softer Steel Markets
Wirana Market Outlook Report Shows Ship Recycling Prices Hold Steady Despite Softer Steel Markets
in
International Shipping News
28/04/2026
Ship recycling prices across key recycling destinations have remained broadly stable despite weaker conditions in steel markets, cautious buying and pressure on steel prices, Wirana Shipping’s latest market outlook report has shown. The report points to a market in which ship recyclers are largely maintaining their prices even as demand for steel remains uneven and buyers remain selective. Prices offered by ship recyclers in India, Bangladesh and Turkey have continued at current levels, while Pakistan has emerged as the market most exposed to potential softening in the coming weeks.
The report highlighted a clear disconnect between weaker steel market sentiment and ship recycling pricing.
West Africa sees bunker demand surge amid Hormuz disruptions – Monjasa
West Africa sees bunker demand surge amid Hormuz disruptions – Monjasa
in
International Shipping News
28/04/2026
Disruptions in the Strait of Hormuz linked to the ongoing Middle East crisis are reshaping global bunker demand, with West Africa “seeing the impact first-hand,” according to bunker supplier Monjasa.
Bunker demand across West Africa has risen markedly since the Iran crisis began, with particularly strong activity reported in Walvis Bay, Namibia and Lomé, Togo.
“The increase is mainly driven by availability issues following disruptions at major bunker hubs such as Fujairah, UAE rather than more vessels re-routing,” Monjasa’s Middle East & Africa general manager Casper Borgen said.
“The bunkering situation in the Middle East is more stable now, but still not fully consistent,” a Middle East-based source said.
Earlier in April, fuel availability in Fujairah tightened amid constrained supply, strict scheduling, firm nominations, and potential delays in barge availability. The re
Trump’s Strait of Hormuz blockade hits Iran’s oil trade
Trump’s Strait of Hormuz blockade hits Iran’s oil trade
in
International Shipping News
28/04/2026
A US naval blockade cuts off Iran’s main source of hard currency by halting most of its oil exports. Will President Trump’s pressure force Tehran back to negotiations or widen the conflict?
How will Trump’s blockade of Iranian oil work?
After US-Iran peace talks in Pakistan collapsed at the weekend, US President Donald Trump said the US Navy would block ships entering or leaving any Iranian port or coastal facility via the Strait of Hormuz.
Until the war began in late February, a fifth of the world’s seaborne oil trade passed Hormuz, the narrow stretch of water between the Persian Gulf and the Indian Ocean.
If successful, the blockade would sever Iran’s main source of revenue by halting its nearly 2 million barrel-per-day oil export trade, which Trump is betting will force Tehran back to the negotiating table.
US officials said the goal was to strip Iran of leverage gained from its control
LNG shipping stocks: Tired, but not beaten
LNG shipping stocks: Tired, but not beaten
in
International Shipping News
28/04/2026
The UP World LNG Shipping Index lost 4.75 points (2.15%) in Week 17–2026, closing at 215.86 points, while the S&P 500 gained 0.55%. The UPI has now declined for three consecutive weeks, though this does not signal the start of a bear market — the index is consolidating after its exceptional first-quarter run. Eight companies gained, eleven declined, and the median change was -0.33%.
Dire straits provide China’s shipbuilders great opportunities
Dire straits provide China’s shipbuilders great opportunities
in
Shipbuilding News
28/04/2026
Rising geopolitical tensions and growing energy security concerns are fueling a new wave of global demand for oil tankers, with Chinese shipbuilders primed and ready to fill orders.
Disruptions at key choke points such as the Strait of Hormuz, a critical oil shipping corridor in the Middle East, are pushing shipowners to expand their fleets and diversify transport routes.
Market watchers said shifting trade patterns are reshaping tanker demand, as changes in crude flows lengthen shipping routes even without a proportional increase in volumes.
Regulatory shifts and fleet renewal cycles are also adding to the need for new ships, with stricter environmental standards accelerating the replacement of aging vessels with more fuel-efficient ships, they said.
The multitude of factors are creating fresh market opportunities for Chinese shipbuilders given their strong delivery capacity, cost competitive
IMO’s Marine Environment Protection Committee convenes in London to discuss key ocean issues
IMO’s Marine Environment Protection Committee convenes in London to discuss key ocean issues
in
International Shipping News
28/04/2026
IMO Secretary-General Arsenio Dominguez opened the 84th session of the Marine Environment Protection Committee (MEPC 84), urging Member States to find convergence and make meaningful progress on the IMO Net-Zero Framework to cut global shipping emissions, and set an example of effective multilateralism.
The meeting will cover a range of environmental issues, including actions to address:
Reduction of greenhouse gas emissions from ships
Energy efficiency of ships
Ballast water management & biofouling
Marine plastic litter
Underwater radiated noise
See the full transcript of the Secretary-General’s opening remarks below:
“Good morning, distinguished delegates,
Welcome to the 84th session of the Marine Environment Protection Committee.
Situation in the Strait of Hormuz
Before turning to the work of this session, and further to my briefing to Member States
Idemitsu Maru Tanker Carrying Saudi Oil Seeks to Cross Strait of Hormuz
An aerial view shows an oil factory of Idemitsu Kosan Co. in Ichihara, east of Tokyo, Japan November 12, 2021, in this photo taken by Kyodo. Picture taken on November 12, 2021.
Trump Says Iran Wants Hormuz Open in Tussle Over War’s End
President Donald Trump gestures after delivering an address to the nation about the Iran war at the White House in Washington, D.C., U.S. Alex Brandon/Pool via REUTERS
Trump Says Iran Wants Hormuz Open in Tussle Over War’s End
Bloomberg
Total Views: 0
April 28, 2026
By Arsalan Shahla and Eltaf Najafizada (Bloomberg) — President Donald Trump said Iran has asked the US to lift a naval blockade of the
Strait of Hormuz
while the two sides negotiate an end to the two-month
war
, which has upended global energy supplies.
Tehran wants the critical waterway for oil and gas shipments open “as soon as possible, as they try to figure out their leadership situation,” Trump said on Truth Social on Tuesday. Iran has said it’s in a “State of Collapse,” he added.
The US leader on Monday convened his national security team to discuss an Iranian proposal to end the conflict, which began with US and Israeli airstrikes on the Islamic Republic on Feb.