Latest maritime market updates and reports
Splash247
AD Ports Group, based in Abu Dhabi, has acquired German freight forwarder MBS Logistics for AED300 million ($82 million), as reported by Splash247. This acquisition grants AD Ports full ownership of MBS Logistics' core business, excluding joint ventures, thereby expanding its global logistics footprint.
gCaptain
The International Energy Agency has highlighted a significant disruption in the oil market due to the ongoing Strait of Hormuz crisis, leading to a rapid decline in global oil inventories. This situation is described as one of the most severe disruptions in modern history, as reported by gCaptain.
Offshore Energy
Argent LNG, based in Louisiana, has entered into an agreement with BOTAŞ, Türkiye's state-owned natural gas company, to supply LNG to Türkiye. Offshore Energy reports that this deal aims to bolster Türkiye's energy resources.
Offshore Energy
Glenfarne Alaska LNG is at a pivotal point for its $44 billion LNG export project in Alaska, having secured sufficient natural gas volumes for a final investment decision, as reported by Offshore Energy. This development follows a significant 30-year agreement with ConocoPhillips.
Splash247
Hunter Group, based in Norway, is dealing with an intensifying payment dispute with a long-term charterer, as reported by Splash247. The Oslo-listed company disclosed that the counterparty underpaid the April charter hire for two VLCCs by approximately $9.22 million, following a similar issue in March.
gCaptain
gCaptain reports that four liquefied natural gas tankers, previously servicing Oman's export plant, are now loading fuel from a US-sanctioned Russian project. This move is part of Russia's strategy to increase exports while circumventing Western sanctions.
Splash247
The Geneva Dry conference's iron ore session explored a range of topics beyond ore flows and freight rates, including bunker shortages, Chinese stockpiling, and geopolitical shifts, as reported by Splash247. The panel highlighted the potential for significant industrial changes, marking a pivotal moment for the capesize market.
Splash247
Tanker resale prices have reached unprecedented levels as buyers seek immediate tonnage in a booming crude shipping market, according to Splash247. Clarksons Research reported on Friday that Trafigura has purchased the scrubber-fitted VLCC resale newbuilding Las Palmas, highlighting the market's intensity.
gCaptain
Iraq exported 10 million barrels of oil via the Strait of Hormuz in April, a significant decrease from the previous monthly average of 93 million barrels before the Iran war, as reported by gCaptain.
gCaptain
The Trump administration has allowed a waiver promoting increased Russian crude sales to expire, as reported by gCaptain. This decision comes despite ongoing concerns about the global oil market, heightened by the conflict in Iran.
