US Seeks Forfeiture of Seized Oil Tankers Linked to Iran
forces board the stateless tanker Tifani (IMO: 9273337) without incident inside the U.S. Indo-Pacific Command area of responsibility. Photo from Department of War video
US Seeks Forfeiture of Seized Oil Tankers Linked to Iran
Bloomberg
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April 30, 2026
By Charles Gorrivan
Apr 30, 2026 (Bloomberg) –The US is seeking forfeiture of two Iran-linked oil tankers seized by naval forces enforcing a blockade against the Islamic Republic, according to a senior administration official.
The US Department of Justice has initiated the forfeiture process, the official said, without elaborating on what that entails or whether it signals an intent to seize the crude on board.
LNG Bunker Snapshot: Prices jump on supply risks and Strait of Hormuz disruptions
LNG Bunker Snapshot: Prices jump on supply risks and Strait of Hormuz disruptions
in
International Shipping News
29/04/2026
LNG bunker prices in Rotterdam and Singapore have rallied, driven by tightening global gas supply and escalating risks around the Strait of Hormuz.
Weekly changes in LNG bunker prices:
Rotterdam up by $63/mt to $957/mt
Singapore up by $86/mt at $1,066/mt
Rotterdam
Rotterdam’s LNG bunker price has climbed by $63/mt, tracking gains in the front-month Dutch TTF natural gas contract. Over the past week, the benchmark has risen by $1.37/MMBtu to $15.48/MMBtu ($805/mt).
The surge in TTF prices has been largely driven by tightening supply dynamics, with “continued supply restrictions due to intermittent planned and unplanned shutdowns at several gas production facilities in Norway, as well as growing expectations of a continued blockade of the Strait of Hormuz,” according to the Japan Organization for Metals and Energy Security (JOGMEC).
Market sentiment has also shifted
Farm commodities surge to two-year high on Hormuz closure
Farm commodities surge to two-year high on Hormuz closure
in
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.
When GPS Fails: Why Maritime Needs Resilient Navigation
When GPS Fails: Why Maritime Needs Resilient Navigation
in
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.
Dry Bulk Shipping: Closure of Strait of Hormuz curbs demand growth
Dry Bulk Shipping: Closure of Strait of Hormuz curbs demand growth
in
International Shipping News
30/04/2026
“T
he Iran war and the resulting disruptions to ship transits through the Strait of Hormuz have increased uncertainty for both the global economy and the dry bulk market. Around 4% of dry bulk cargoes and tonne mile demand typically sail through the strait and at present, and around 210 ships, equivalent to roughly 1% of the dry bulk fleet, are currently trapped in the Persian Gulf,” says Filipe Gouveia, Shipping Analysis Manager at BIMCO.
Given the high uncertainty over when transits may resume, we present two forecast scenarios. The “SoH closed” scenario assumes the strait remains effectively closed indefinitely, while the “SoH open” scenario assumes an imminent reopening.
Korea Launches Shipbuilding-Shipping Alliance
Korea Launches Shipbuilding-Shipping Alliance
in
Shipbuilding News
30/04/2026
The Ministry of Oceans and Fisheries and the Ministry of Trade, Industry and Energy jointly announced that they co-hosted the inaugural ceremony of the “Shipbuilding-Shipping Mutually Beneficial Development Strategic Council” at Lotte Hotel in Seoul on April 28.
The two associations representing the shipbuilding and shipping industries had agreed at the “Autonomous Navigation Vessel M.AX Alliance Strategic Meeting” last December to establish a mutual cooperation council at the earliest possible time, and this event marks the fulfillment of that commitment.
The event was attended by the ministers of both ministries, along with representatives from Korea Gas Corporation, the Korea Shipbuilding and Offshore Engineering Association, the Korea Shipping Association, and the heads of major domestic shipbuilders and shipping companies, drawing some 100 participants in total who reaffirmed their commitment to strength
FUJAIRAH DATA: Oil product stocks fall 6% to fourth straight record low
FUJAIRAH DATA: Oil product stocks fall 6% to fourth straight record low
in
Port News
30/04/2026
Oil product inventories at Fujairah in the UAE fell 6.3% in the week ended April 27 to 6.982 million barrels, hitting a record low for the fourth straight week and extending the drop since the US-Iran war started to 66%, according to Fujairah Oil Industry Zone data published April 29.
As recently as early March, inventories of heavy distillates and light distillates each exceeded 8 million barrels. The total has now dropped eight weeks in a row, according to the data. Fujairah has been attacked at least six times since the war started on Feb.
Ship Recycling: Buying Interest Strong, But Tonnage Availability Limited
Ship Recycling: Buying Interest Strong, But Tonnage Availability Limited
in
Hellenic Shipping News
30/04/2026
T
he ship recycling market is lacking available tonnage, despite strong buying interest. In its latest weekly report, Best Oasis (
www.best-oasis.com
), a leading cash buyer of ships, said that “the Indian market remains reasonably stable; however, activity is limited by a continued lack of available recycling tonnage under current conditions. Local recyclers remain interested in acquiring units within their target price levels, though they are unable to compete with the stronger pricing offered in Bangladesh.