US blockade unlikely to change Hormuz shipping hiatus: IMO chief
US blockade unlikely to change Hormuz shipping hiatus: IMO chief
in
International Shipping News
15/04/2026
The US blockade of Iranian ports will do little to change the effective halt in shipping transits via the Strait of Hormuz, where Iran’s control of the key energy shipping route has choked off normal trade flows since late February, the head of the International Maritime Organization said April 13.
Following the collapse of US-Iran weekend peace talks in Islamabad, US Central Command started to enforce a blockade of all maritime traffic entering and exiting Iranian ports from 1400 GMT on April 13.
“I don’t see a big change right now in the status quo … A further blockage right now doesn’t really change the fact that there’s no normal trade,” Secretary-General Arsenio Dominguez said, joining the industry chorus of opposing the imposition of a toll system.
“Additional blockade just doesn’t really help anything in finding a solution to the conflict,” he told reporters in the UN agenc
G7 crude tankers withdraw from Russia with Urals rising above price cap
G7 crude tankers withdraw from Russia with Urals rising above price cap
in
International Shipping News
15/04/2026
G7-linked crude tankers started to withdraw from Russia in March, with rising crude prices limiting their trading opportunities within the price cap.
Tankers flagged, owned or operated by companies based in G7 countries and their allies, or insured by Western protection and indemnity clubs, lifted 20.3% of Russia’s crude exports of 3.4 million b/d last month, according to data from S&P Global Commodities at Sea(opens in a new tab) and Maritime Intelligence Risk Suite.
This was down from 29.2% in February and the lowest in 10 months.
Currently, the EU, UK and Canada set the price threshold for tanker firms and insurers to facilitate Russian crude exports at $44.10/b. Japan’s price cap is at $47.60/b, and the US at $60/b.
After the US-Iran war broke out on Feb. 28, international oil prices have surged on the near absence of supply from Persian Gulf producers with Iran limitin
Barclays cuts US Q1 GDP growth forecast amid weaker consumer spending
Barclays cuts US Q1 GDP growth forecast amid weaker consumer spending
in
World Economy News
15/04/2026
Barclays has cut its first-quarter U.S. GDP growth forecast by half a percentage point to 2.5% quarter-on-quarter annualized, citing weaker-than-expected consumer spending and softer income fundamentals in the opening months of the year.
The bank’s full-year 2026 real GDP growth forecast now stands at 2.4% on a fourth-quarter-over-fourth-quarter basis.
The revision follows data showing that real consumer spending rose just 0.1% month-on-month in February, while nominal income declined 0.1% over the same period.
Economists at Barclays cut real personal consumption expenditure growth forecast for the first quarter by a full percentage point to 1.0% annualized, implying lower first-quarter GDP growth.
“We view risks to both consumer spending and activity as skewed to the downside, given the deterioration in consumer sentiment and signal from the latest ISM prints,” a team led by Marc Gia
Net zero by 2050? This decade’s fuel choices will decide
Net zero by 2050? This decade’s fuel choices will decide
in
International Shipping News
15/04/2026
T
he debate over whether net zero is possible by 2050 may continue for years, while global emissions and temperatures continue to rise. But the question of green hydrogen’s role in achieving it has swung from hype to skepticism to a pragmatic center: shipping and several other hard-to-abate sectors need green hydrogen to reach net zero. Yet, the hydrogen itself remains elusive.
March VLCC outlook – Historic shockwaves through the market
March VLCC outlook – Historic shockwaves through the market
in
International Shipping News
15/04/2026
M
arch delivered one of the most extraordinary freight markets in modern shipping history. The escalation of conflict in the Middle East culminated in a scenario many in shipping had long theorised but few expected to see materialise: the effective closure of the Strait of Hormuz.
The TD3C benchmark reacted intensely, with the index surging to unprecedented levels. Mid-month, the route briefly exceeded Worldscale 600, equating to earnings of over $600,000 per day.
Joint Statement on 13 April by the Heads of the International Energy Agency, International Monetary Fund, and World Bank Group
Joint Statement on 13 April by the Heads of the International Energy Agency, International Monetary Fund, and World Bank Group
in
Oil & Companies News
15/04/2026
The Heads of the International Energy Agency, International Monetary Fund, and World Bank Group met today as part of the coordination group they established in early April to maximize their institutions’ response to the energy and economic impacts of the war in the Middle East. At the end of their meeting, they issued the following statement:
“As we noted earlier this month, the impact of the war is substantial, global, and highly asymmetric, disproportionately affecting energy importers, in particular low-income countries. The shock has led to higher oil, gas and fertilizer prices, triggering concerns about food security and job losses as well.
U.S. Declares Blockade Effective as First Ships Turned Back from Iranian Ports
Arleigh Burke-class guided-missile destroyer USS Frank E. (DDG 121) sails in the Arabian Sea during Operation Epic Fury, March 18, 2026. Declares Blockade Effective as First Ships Turned Back from Iranian Ports
Mike Schuler
Total Views: 0
April 14, 2026
The United States says its newly announced maritime blockade targeting Iranian ports is already taking hold, with U.S.
“Free Seas” Are Not Unraveling — But the System Is Changing Under Pressure
EUNAVFOR Operation Atalanta warships escort the MV Abdullah after it was freed by Somali pirates. Photo courtesy EUNAVFOR
“Free Seas” Are Not Unraveling — But the System Is Changing Under Pressure
Editorial
Total Views: 0
April 14, 2026
The global maritime system remains open, but operates with less slack, greater volatility, and more variable constraints on access.
By
Bruce Kimbrell
(Policy Op-Ed)
A recent Wall Street Journal commentary argues that the “era of free seas is unraveling,” pointing to tensions in the
Strait of Hormuz
and the possibility of states imposing tolls on global shipping.
It is a compelling narrative, and it captures a real signal. But it overstates the moment.
Three dynamics shape today’s maritime trade environment: crisis, coercion, and market responses that reprice risk across global shipping.
LNG Bunker Snapshot: LNG prices weaken amid Iran-US ceasefire
LNG Bunker Snapshot: LNG prices weaken amid Iran-US ceasefire
in
International Shipping News
14/04/2026
Rotterdam’s LNG bunker price has declined amid a Gulf war ceasefire and improved supply outlook, while Singapore’s price has made a steeper fall as bunker premiums have narrowed.
Weekly changes in LNG bunker prices:
Rotterdam down by $37/mt to $985/mt
Singapore down by $76/mt to $1,204/mt
Rotterdam
Rotterdam’s LNG bunker price has declined for a third consecutive week following a 3% drop in the front-month Dutch TTF Natural Gas contract, a key benchmark for European gas prices.
The fall in the TTF price has come “following the announcement of a conditional ceasefire in the Middle East” on 8 April, according to the Japan Organization for Metals and Energy Security (JOGMEC).
“TTF futures dropped… reflecting optimism around a potential temporary reopening of the Strait of Hormuz,” two analysts from ING Bank noted.
“The reopening of the Strait of Hormuz means that the 20–25 % of global L
U.S. Hormuz blockade enters second day amid reports of peace talk progress
Hormuz blockade enters second day amid reports of peace talk progress
in
International Shipping News
14/04/2026
A U.S. military blockade of Iranian ports stretched into a second day on Tuesday, even as hopes surrounded potential forward momentum in peace talks between Washington and Tehran.
British maritime officials noted that access has been restricted for vessels attempting to enter or depart Iranian ports, as well as in coastal areas in the Persian Gulf, Gulf of Oman and sections of Arabian Sea.
U.S. President Donald Trump said the blockade took effect on Monday, after weekend talks to establish a permanent ceasefire with Iran did not yield an immediate result.