Diversions from transiting the Red Sea to avoid Houthi attacks have significantly strengthened ton mile demand to the benefit of investors listed product tanker owners.

AD Ports Group has reported a doubling of revenue in 2023 to AED11.7bn ($3.19bn), boosted by mergers and acquisitions.

ABS has inaugurated a training centre for LNG-related training and development in Doha which has the support of QatarEnergy.

As shipping company earnings benefit from disruption in the Red Sea the Singapore Maritime Officers Union (SMOU) has called on companies to remember seafarers when it comes to bonuses.

Feeder vessels have become the focus of short-term charters as liner operators reconfigure their Asia to Europe services around the Cape of Good Hope, requiring feeders for the Mediterranean region in particular.

QatarEnergy, which owns the world’s largest fleet of LNG carriers, has selected Nakilat (Qatar Gas Transport Company Limited) to own and operate up to 25 new LNG carriers of 174,000m3 to be built at shipyards in South Korea.

On the eve of Star Bulk Carriers’ full year results the Houthi Movement has launched a missile attack on the Star Iris, a panamax bulk carrier, in the Bab al-Mandeb straits, off Yemen.

Houthi attacks in the Red Sea have driven a significant change in voyage patterns for products tankers on the trade between Middle East Gulf/India and Europe.

South Korean shipbuilder Samsung Heavy Industries (SHI) has secured a contract to construct 15 LNG carriers for KRW4.57 trillion ($3.44 billion).