Middle East hostilities and decisions by many owners to re-route ships around the Cape of Good Hope is shoring up markets and keeping freight rates above expectations, which does not equate to good news for ship recycling markets.

Almost 13% of Europe’s LNG supply came to Europe via the Red Sea last year, mostly from the Middle East. But Qatar Energy, the major supplier, halted voyages via the Bab-el-Mandeb Strait and the Red Sea mid-month, re-routeing its LNG carriers...

A consortium of Japanese companies has signed contracts to build the world’ first ammonia-fuelled medium gas carrier with Japanese engines.

In the States, ‘Hydrogen Hubs’ have been a subject of discussion, alongside alternative fuels for the maritime sectors.

The OCIMF has begun Phase 3 of its digitalised Ship Inspection Report Programme (SIRE 2.0), enabling all programme users to carry out ‘beta-testing’ of the new inspection regime before the analog version is withdrawn.

Engine manufacturer WinGD predicts its X-DF engines will power the majority of QatarEnergy’s 40-strong Phase Two orderbook.

The Singapore Registry of Ships (SRS) has passed the 100 million gt mark with the registration of an AET VLCC.

South Korean shipbuilder Samsung Heavy Industries (SHI) has won a construction contract for two LPG/ammonia carriers, valued at $235 million.

As Houthi attacks on shipping extend beyond container ships, an analysis has shown the global bulk trades most reliant on the Suez Canal.

The VLCC tanker sector has benefited from a very low newbuilding orderbook, however, brokers Poten expect ordering to return in the second half of 2024.