Maritime Current News

Insights, Updates, and Maritime Intelligence

Tuesday, February 17, 2026

Maritime Current News

Insights, Updates, and Maritime Intelligence

Tuesday, February 17, 2026

Maritime Trade & Economy

Maritime Trade & Economy focuses on global shipping, seaborne commerce, and the economic dynamics shaping international trade. This category covers developments in maritime logistics, shipping markets, freight trends, port competitiveness, blue economy initiatives, and the economic impact of maritime policies and technologies. It provides insights into how oceans, ports, and shipping networks drive global trade, regional growth, and sustainable economic development.

PetroChina Suspends Venezuelan Crude Trading as U.S. Takes Control of Exports
Maritime Trade & Economy
Maritime Current News

PetroChina Suspends Venezuelan Crude Trading as U.S. Takes Control of Exports

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.

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EU–India Free Trade Agreement Signed: €4 Billion Annual Savings and 96% Tariff Cuts
Maritime Trade & Economy
Maritime Current News

EU–India Free Trade Agreement Signed: €4 Billion Annual Savings and 96% Tariff Cuts

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.

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Guyana Set for Major Economic Growth in 2026 as Offshore Oil Production Surges
Maritime Trade & Economy
Maritime Current News

Guyana Set for Major Economic Growth in 2026 as Offshore Oil Production Surges

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.

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Trump Hikes US Tariffs on South Korean Imports to 25%
Maritime Trade & Economy
Maritime Current News

Trump Hikes US Tariffs on South Korean Imports to 25%

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.

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Russia and China Maintain Arctic LNG 2 Deliveries Despite Western Sanctions, China Reports Record Imports
Maritime Trade & Economy
Maritime Current News

Russia and China Maintain Arctic LNG 2 Deliveries Despite Western Sanctions, China Reports Record Imports

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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Pakistan’s Maritime Sector Records Historic Rs100 Billion Profit Following Comprehensive Reforms
Maritime Trade & Economy
Maritime Current News

Pakistan’s Maritime Sector Records Historic Rs100 Billion Profit Following Comprehensive Reforms

Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry said maritime sector posted a record Rs100 billion ($360 million) profit in 2025 after a year of sweeping reforms that improved port efficiency, cut costs and cleared long-delayed policies aimed at positioning the country as a regional trade and logistics hub.

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Kingfish Company Enters Financing Talks as Q4 Revenue Growth Moderates
Maritime Trade & Economy
Maritime Current News

Kingfish Company Enters Financing Talks as Q4 Revenue Growth Moderates

The Kingfish Company, a land-based yellowtail kingfish producer, has confirmed it has begun discussions with stakeholders over its financing arrangements after reporting slower revenue growth in the fourth quarter of 2025.
For the period ending December 31, 2025, the company posted €8.5 million ($9.2 million) in revenue, marking a 14% year-on-year increase. On a like-for-like basis, excluding fresh fish sales in the United States, revenue growth stood higher at 21%.

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MSC Charters Dutch Heavy-Lift Vessel for Antarctica Mission, Raising U.S. Flagship Concerns
Maritime Trade & Economy
Maritime Current News

MSC Charters Dutch Heavy-Lift Vessel for Antarctica Mission, Raising U.S. Flagship Concerns

Port Hueneme, California – The U.S. Military Sealift Command (MSC) recently completed cargo loading for Operation Deep Freeze 2026, sending the Dutch-flagged heavy-lift vessel Plantijngracht to McMurdo Station in Antarctica. The decision to charter a foreign-flagged ship has sparked discussions over MSC’s reliance on non-U.S. vessels for critical government missions.

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U.S. Crackdown on Venezuelan Oil Exports Sends Shockwaves through Global Energy Markets
Maritime Trade & Economy
Maritime Current News

U.S. Crackdown on Venezuelan Oil Exports Sends Shockwaves through Global Energy Markets

According to the Wall street journal, the United States’ intensified crackdown on Venezuelan oil exports has dramatically reshaped global crude supply patterns, sharply reducing shipments and forcing major importers such as China to seek alternative sources. This strategic move comes amid heightened enforcement against sanctioned tankers and follows decisive U.S. actions in Caracas.

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