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Iran has proposed reopening the Strait of Hormuz within two days if Washington meets its conditions, offering a breakthrough in talks to end the war as both sides warn that renewed fighting could spread regionally. Iranian Foreign Minister Abbas Araghchi said Qatari mediators had helped shorten Tehran’s seven-day reopening proposal. Under the revised sequence, the …

Iran offers 48-hour Hormuz reopening plan as Trump signals progress in talks Read More »

Brazilian miner Vale SA’s freight and fuel hedging strategies have protected the company from the worst impacts of higher shipping costs facing iron ore producers, CEO Gustavo Pimenta said. About 75% of Vale’s shipping needs are covered by long-term contracts at fixed prices over the next few years, while the remaining needs will be managed …

Vale freight, fuel hedges cushion impact of rising shipping costs Read More »

At any given moment, thousands of vessels are at sea. Each voyage is shaped by a series of decisions: speed, route, fuel, vessel performance, timing and execution. There is rarely one obviously right choice. A slower vessel may burn less fuel but arrive too late to capture the value of the cargo. A faster voyage …

The cost of almost: what trade at its full potential really means Read More »

Singapore shipowner Kumiai Navigation’s new gas carrier from Kawasaki Heavy Industries (KHI) could later be converted to run on ammonia. The 86,700-cbm gas carrier Aurora Borealis has separate cargo tanks so it can carry liquefied petroleum gas (LPG) and ammonia at the same time. It is the 14th ship in KHI’s series of LPG dual-fuel …

Kumiai Navigation takes delivery of LPG dual-fuel gas carrier Read More »