Oil flows through the Strait of Hormuz have collapsed amid the escalating Middle East conflict, with shipments now running far below normal levels, according to a new tracker note from Goldman Sachs. Based on vessel counts, the bank estimates that “average daily flows through the Strait of Hormuz are down 97% from their normal levels,” …

Hormuz oil flows down 97% from normal levels, Goldman Sachs says Read More »

In March, Saudi Aramco began diverting crude exports to Yanbu as the East-West pipeline approaches full operating capacity (7mbd, industry sources). The shift is designed to keep barrels moving while the Strait of Hormuz remains heavily constrained, but Yanbu’s loading limit of 4.5mbd (Argus) is well beyond Vortexa’s observed historical peak monthly export rate of …

Yanbu VLCC liftings broaden as freight premiums surge Read More »

The Liberian Registry, the world’s largest ship registry, will soon introduce electronic seafarer documents as part of its commitment to digital innovation and compliance. In doing so, the benefits of these efforts extend across the entire maritime industry, supporting all stakeholders as we navigate the complexities of the current global operating environment. For Shipowners, enhanced …

Liberian Registry to Introduce Electronic Seafarer Documents Read More »

A war-driven oil shock has once again exposed shipping’s vulnerability to fossil fuel dependence and reinforced the need to shift to low- and zero-emission bunker fuels. The ongoing Middle East conflict and the closure of the Strait of Hormuz have roiled global oil and gas markets. The front-month ICE Brent crude futures contract topped $100/bbl …

The Week in Alt Fuels: Fuel reckoning Read More »

The US government is weighing a waiver of the Jones Act, a White House spokesperson confirmed on March 12. In a statement provided to Platts, part of S&P Global Energy, White House Press Secretary Karoline Leavitt said the administration had not finalized any decision. “In the interest of national defense, the White House is considering …

US weighing Jones Act suspension to ease energy prices amid Iran war Read More »

The Board of Directors of the Eritrean Seaman Union expresses its sincere sympathy to the people of the Gulf region and extends its wishes for peace and stability amid the current tensions. The recent unpredictable incidents across Gulf waters have created danger and uncertainty, and our thoughts are with all those affected. At present, thousands …

Statement of the Eritrean Seaman Union on Maritime Security and Seafarer Protection in the Gulf and Red Sea Read More »

Italy is not conducting negotiations with Iran to secure safe passage through the Strait of Hormuz for Italian vessels or oil tankers, an Italian foreign ministry source said on Friday. The statement contradicts a report published by the Financial Times suggesting such talks were taking place. “In their diplomatic contacts, Italian leaders want to favour …

Italy denies negotiating safe passage through Hormuz Strait with Iran Read More »

On March 11th, NYK Group company, NYK Holding (Europe) B.V. (“NHE”), reached an agreement with the Norwegian shipping company Westfal- Larsen Group to fully acquire Saga Welco AS (“Saga Welco”). Saga Welco, a Norwegian shipping operator specializing in transporting cargo via open-hatch vessels*, is currently jointly owned by NHE and the Westfal-Larsen Group, with each …

NYK Group fully acquires Saga Welco AS, a leading open-hatch vessel operator Read More »