Pakistan’s Prime Minister Shehbaz Sharif announced early Thursday that the United States and Iran have electronically signed a memorandum of understanding (MoU) aimed at ending their ongoing conflict, with the agreement taking immediate effect.
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Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry on Thursday announced the freezing of a proposed 5 percent increase in Karachi Port Trust (KPT) tariffs for fiscal year 2026-27, a move to provide substantial relief to the business community and supporting trade and economic activity.
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Germany has deployed two naval vessels to the Red Sea as preparations continue for a possible international mission to help secure the Strait of Hormuz, one of the world’s most important shipping corridors for oil, gas, and global trade.
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A coalition of 15 countries from Africa, Asia, Europe, the Caribbean, and the Pacific has adopted the Mombasa Declaration, a major international initiative aimed at combating illegal, unreported and unregulated (IUU) fishing, a global challenge estimated to cost the world economy up to $50 billion every year.
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The twin ports of Southern California delivered an impressive performance in May, reporting strong cargo growth and reinforcing confidence in the near-term outlook for global shipping, container trade, and supply chain activity.
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Legal proceedings linked to the sinking of the MSC Elsa 3 continue as the Kerala High Court advises four foreign crew members to seek permission from a trial court before leaving India.
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ranian crude oil exports have resumed for the first time in two months as several oil tankers crossed the United States blockade line in the Strait of Hormuz, signaling a potential easing of tensions ahead of upcoming US-Iran negotiations aimed at ending the conflict and restoring energy trade.
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ABS and MOBY Robotics Inc. have signed a Memorandum of Understanding (MoU) aimed at accelerating the development of next-generation subsea mining technologies and offshore mineral transportation systems.
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The United Kingdom has pledged to play its “full part” in restoring freedom of navigation through the Strait of Hormuz, one of the world’s most strategically important maritime chokepoints, as international efforts intensify to reopen the vital shipping corridor following months of conflict in the Middle East.
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China and South Korea have strengthened their commitment to sustainable fisheries management and marine ecosystem conservation by jointly releasing millions of fish fry and juvenile aquatic species into the Yellow Sea, a vital fishing ground shared by both nations.
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Although U.S. President Donald Trump announced a deal with Iran and declared the reopening of the Strait of Hormuz, maritime traffic has yet to return to normal. Ship-tracking data indicates that only seven vessels have passed through the strategic waterway since the announcement, while approximately 580 ships remain inside the Gulf awaiting safer conditions.
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South Korea is actively strengthening its maritime energy security and crude oil supply chain resilience by rerouting its crude oil imports through alternative shipping corridors following the closure of the Strait of Hormuz due to ongoing Middle East conflict.
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The Federal Government has abolished the 18% sales tax on the shipping industry in the 2026-27 budget, a move hailed by Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry as a major boost for maritime and logistics sectors.
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The strategic Strait of Hormuz has been declared closed to all vessels once again as military tensions between the United States and Iran escalate sharply, raising serious concerns over global maritime security, crude oil transport, and freedom of navigation in one of the world’s most critical oil shipping routes.
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More than 100 new recruits are being sought for the next phase of a major UK defence infrastructure and shipyard expansion project at Devonport Dockyard, as part of a long-term investment in naval maintenance and submarine support capabilities.
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