Marine Insurance Paralyses Hormuz Strait: Traffic Plummets 80% as Premiums Quadruple
Traffic through Strait of Hormuz drops 80% in 24 hours after insurers cancel war risk cover. Premiums surge from 0.2% to 1% of vessel value, disrupting global shipping.
Middle East Crisis Spurs LNG Ship Demand, Boosting Korean Shipyards
Middle East crisis could boost LNG carrier orders for secure energy transport, benefiting South Korean shipyards like Hyundai and Samsung. Tensions highlight shipping volatility.
Iran Conflict Forces CSCOs to Redirect 20% of Global Maritime Traffic
Hostilities in Iran compel CSCOs to reroute 20% of maritime traffic, with freight costs rising 10-30% and insurance premiums up to 50% due to high-risk zones.
d’Amico Locks in $40k+ Time Charters as Product Tanker Market Booms
d’Amico Tankers secures time charters above $40,000 daily in 2024, boosting fixed income amid strong product tanker market driven by geopolitical shifts and high demand.
Armas Covers DFDS Ferry Gap with 5 Daily Algeciras-Ceuta Sailings
DFDS suspends Algeciras-Ceuta ferry until 20 March for fast ferry maintenance. Armas Trasmediterránea covers with 5 daily sailings using ‘Agaete’. CNMC reviews DFDS’s Armas acquisition.
Flexport deploys agentic AI to automate maritime customs refunds
Flexport’s agentic AI automates customs refund audits for maritime clients, reducing manual work and improving compliance efficiency in global logistics.
Drass delivers two autonomous SDVs to Indonesia for naval modernisation
Italian firm Drass delivers two autonomous SDVs to Indonesian Navy, enhancing special forces with advanced tech and operator training.
Orange Marine Commissions Two Vard 9-03 Cable Repair Ships, Fleet Grows to Four
Orange Marine orders two Vard 9-03 cable repair vessels, doubling its fleet to four units to maintain submarine cables carrying over 95% of global data traffic.
WinGD Secures First Ammonia Two-Stroke Engine Type Approval in 2026
WinGD completes world-first ammonia-fuelled two-stroke engine type approval in 2026, advancing maritime decarbonisation goals with zero-emission technology.
Baleària Posts €801M Revenue in 2025 with Record €170M EBITDA, Expands European Ferry Network
Baleària reports €801M revenue in 2025, up 16%, with record €170M EBITDA and 6.5M passengers. Key growth in North African routes drives sustainability with 15% CO2 cut per passenger.