South Korean shipping giant HMM has taken delivery of the world’s largest pure car and truck carrier (PCTC), marking a new milestone in the rapid evolution of global car shipping. Built by Guangzhou Shipyard International (GSI), a subsidiary of China State Shipbuilding Corporation (CSSC), the vessel is capable of carrying 10,800 car equivalent units (CEU), the largest capacity ever recorded for a car carrier.
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A key milestone has been achieved in the Horizon Mid-Life Upgrade (MLU) programme with the successful delivery and installation of the first Kronos Grand Naval radar at France’s Shore Integration Facility (SIF) in Saint-Mandrier.
The Kronos Grand Naval (KGN) radar, supplied by Leonardo, was shipped and installed at the DGA Shore Integration Facility on 17 December 2025. The installation represents a critical step in the Horizon-MLU cooperative programme, as it enables the start of qualification and acceptance activities for the Principal Anti-Air Missile System (PAAMS) at the SIF over the coming year.
A cargo ship emergency unfolded off Portugal’s central coast after a Dutch-flagged vessel reportedly lost its rudder shortly after departing port, prompting authorities to close the Port of Figueira da Foz and dispatch tug assistance amid rough sea conditions.
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Finnish shortsea shipping company Meriaura has taken another step in its fleet renewal programme by signing a contract to build a new open deck carrier in China, reinforcing its long-term focus on specialised shortsea operations.
The company confirmed that the 6,800 dwt vessel will be constructed at Jiangsu Zhenjiang Shipyard and is scheduled for delivery in early 2028. The newbuild will measure 120 metres in length and will be built to 1A ice class with DP2 notation, supporting Meriaura’s strategy of maintaining year-round operability in northern and ice-prone waters.
China’s state owned oil giant PetroChina has directed its traders to halt purchases and trading of Venezuelan crude oil since the United States assumed control of Venezuela’s oil exports earlier this month, according to sources with direct knowledge of the situation.
PetroChina, a publicly listed subsidiary of China National Petroleum Corporation (CNPC), was historically the largest buyer of Venezuelan oil until it stopped imports in early 2019 following U.S. sanctions targeting Venezuela’s oil sector. Its latest decision to refrain from engaging with new Venezuelan crude — at least until further clarity from company leadership — underscores a tightening of supply to Chinese refiners and challenges in global crude trading under shifting geopolitical conditions.
Wan Hai Lines, a leading Taiwanese container carrier, is expanding its presence in Japan with the acquisition of Terminal C9 at Osaka Port for approximately $87 million, aiming to bolster its intra-Asia shipping network and enhance operational control.
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Scientists from the Smithsonian Tropical Research Institute (STRI) have reported that the annual upwelling phenomenon in the Gulf of Panama failed for the first time in recorded history in 2025, marking a major shift in oceanographic patterns and raising concerns for local fisheries.
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A landmark European Union–India Free Trade Agreement (FTA) was officially signed on 27 January 2026, ending nearly four years of negotiations and setting the stage for transformative economic cooperation between the EU and India.
The negotiations were formally relaunched on 17 June 2022, alongside separate discussions on an Investment Protection Agreement and an Agreement on Geographical Indications (GIs). After years of intensive engagement, the FTA has now been concluded, opening unprecedented trade and investment opportunities between Europe’s largest economic union and India, the world’s most populous nation.
India is positioning itself for energy independence with investment opportunities worth $500 billion in its energy infrastructure, Prime Minister Narendra Modi announced on Tuesday during the India Energy Week conference.
“We are moving away from energy security to energy independence,” Modi said, highlighting the South Asian nation’s ambitious energy infrastructure drive. India is focusing on expanding affordable refining and transport options while boosting its capacity in natural gas. “We are aiming to make LNG transportation vessels domestically,” he added, signaling a push toward local liquefied natural gas (LNG) shipbuilding.
The Destin Fire Control District (DFCD), home to Florida’s largest fleet of firefighting vessels, has received a state-of-the-art 52-foot (16-meter) coastal fireboat, the M-19, from Mobile, Alabama-based boatbuilder Silver Ships.
The aluminum deep-V hull vessel is powered by four 425hp Yamaha outboard engines, enabling a top speed of 45 knots. Equipped with two Darley firefighting pumps capable of discharging 3,000 gallons (11,000 liters) per minute, M-19 provides 360-degree firefighting coverage via two forward and two aft monitors. One monitor is remotely controlled, minimizing crew exposure during hazardous operations.
Georgetown, Guyana — Guyana’s economy is poised for strong expansion in 2026, with overall growth projected at 16.2 per cent, a slight moderation from the 19.3 per cent recorded in 2025, according to Finance Minister Ashni Singh in the presentation of the 2026 National Budget.
The country’s oil and gas sector remains the primary engine of growth, expected to expand by 17.9 per cent this year. Average crude production is forecast at around 840,000 barrels per day (bpd), reinforcing Guyana’s position as a rapidly growing energy producer on the global stage.
Finland is planning to establish a maritime surveillance centre in the Gulf of Finland to help prevent damage to critical undersea infrastructure, including submarine cables and pipelines, the Finnish Border Guard said on Monday. The centre will be developed in cooperation with other Baltic Sea nations and the European Commission.
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US President Donald Trump has announced a sharp increase in tariffs on imports from South Korea, raising duties to 25% after accusing Seoul of failing to fully implement a trade agreement reached last year.
In a social media post, Trump said tariffs would rise from 15% on a wide range of South Korean products, including automobiles, lumber, pharmaceuticals and other goods covered under what he described as “reciprocal tariffs.” He claimed South Korean lawmakers had been slow to approve the agreement, while the United States had acted quickly to reduce its own tariffs in line with the deal.
Three people lost their lives and two others were injured after a tourist boat capsized in the Gulf of Oman on Tuesday, January 27, according to local authorities.
Officials said the vessel was traveling to the popular Ad Dimaniyat Islands when it overturned around 2.5 nautical miles off Sultan Qaboos Port in Muscat shortly after 9:00 a.m. local time.
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Russia and China continue to maintain steady deliveries of liquefied natural gas (LNG) from the sanctioned Arctic LNG 2 project despite ongoing U.S., UK and EU sanctions, highlighting the resilience of Russian energy exports and growing Sino‑Russian energy cooperation. The Chinese Beihai LNG terminal received the first Arctic LNG 2 cargo of 2026, with data from LSEG showing that the vessel Buran LNG carrier loaded LNG from a floating storage unit near Murmansk on December 25 and proceeded toward China via the Suez Canal route.
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