OFAC Temporary Waiver Lets Sanctioned Tankers Transport Russian Oil to India Until March 5
US OFAC waiver issued 5 March 2024 allows sanctioned tankers to transport Russian oil to India for cargoes loaded before that date, amid G7 operator market shifts.
Xufin’s European ORC DH Runner-Up in Altea Amid 40-Knot Winds
Xufin secures European ORC Double Handed runner-up in Altea’s 200-mile race with winds over 40 knots, highlighting extreme sailing challenges.
South Korean LNG Carrier Sales Rise Amid Iran Crisis and Qatar Suspension
Middle East tensions after Iran attacks and Qatar’s 20% LNG suspension boost demand for South Korean LNG carriers over 170,000 cubic metres.
TKMS Proposes Type 212CD Submarine for Canada’s 12-Vessel Arctic Fleet
Canada’s CPSP aims for 12 Arctic submarines. TKMS Type 212CD offers AIP, ORCCA combat, SeaSpider torpedo. Analysis covers technical specs, operational impacts, and market implications.
Iran Conflict Fuels 40% Bunker Cost Surge, Strains Strait of Hormuz
Iran conflict drives bunker costs up 40%, threatens 30% of global seaborne oil via Strait of Hormuz. Risk premiums surge, forcing route changes and higher operational expenses for shipping.
U.S. Navy Forges Shipyard Alliances with Korea and Japan for 2026 Defence Strategy
U.S. enhances shipyard alliances with South Korea and Japan under 2026 defence strategy to counter China’s 30% naval growth, boosting maritime jobs and tech.
BW LPG CEO Kristian Sorensen Sells 207,647 Shares at 167.25 NOK
BW LPG CEO Kristian Sorensen sold 207,647 shares at 167.25 NOK in March 2026 after exercising options, analysed for maritime insider transaction trends.
LR2 Tanker Freight Soars 101% to WS446, TCE Hits $120k Daily
LR2 tanker freight rates surge 101% to WS446, with TCE hitting $120k/day amid Middle East tensions. TC20 rates reach $8.51M, up $3.7M weekly.
Baleària tows 102m trimaran for major overhaul ahead of 2025 summer service
Baleària tows 102m trimaran ‘Pepita Castellví’ to Algeciras for overhaul, set to serve 1,165 passengers and 254 vehicles from summer 2025, enhancing Mediterranean ferry capacity.
Strait of Hormuz traffic collapses to 3 daily crossings in March 2026
On 7 March 2026, Strait of Hormuz traffic dropped to 3 crossings due to war risks and insurance collapse, redirecting vessels to Bab el-Mandeb and Suez Canal.