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.
Technip Energies has secured a significant new contract to advance Mozambique’s second floating liquefied natural gas project, Coral Norte FLNG, reinforcing momentum in the country’s expanding offshore LNG sector.
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The European Commission has urged the United States to fully respect the terms of last year’s EU-U.S. trade agreement following the U.S. Supreme Court’s decision to strike down former President Donald Trump’s global tariffs. The Commission, representing all 27 EU member states, called on Washington to provide “full clarity” on its next steps after the ruling.
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The United States will stop collecting certain import tariffs ruled illegal by the Supreme Court starting early Tuesday, according to an announcement by U.S. Customs and Border Protection (CBP).
CBP confirmed that it will halt the collection of tariffs imposed under the International Emergency Economic Powers Act (IEEPA) at 12:01 a.m. EST (0501 GMT) on Tuesday. The move comes more than three days after the U.S. Supreme Court determined that the duties were unlawful.
US President Donald Trump has announced a sharp escalation in US trade policy, raising global tariffs to 15% just one day after a landmark ruling by the Supreme Court of the United States struck down his previous tariff measures.
The move increases the tariff rate from the 10% announced last Friday, when Trump invoked Section 122 of the Trade Act of 1974, a rarely used provision that allows the president to impose tariffs of up to 15% for a period of 150 days. Under the law, Congress must take action if the tariffs are to remain in place beyond that timeframe.
Global biofuel bunker prices have shown notable gains over the past week, with Rotterdam’s B30-VLSFO (POMOME) and Antwerp’s B30-VLSFO (UCOME) prices increasing in line with conventional VLSFO markets. Rotterdam’s standard VLSFO rose by $34/mt, while Antwerp saw a $29/mt increase, supporting the upward movement in B30-VLSFO blend prices.
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Oman achieved a notable boost in its foreign trade performance in 2025, driven by a surge in non-oil exports and re-export activities, even as oil export revenues declined due to falling global crude prices.
According to the latest monthly statistical bulletin by the National Centre for Statistics and Information (NCSI), Oman’s non-oil exports increased by 7.5%, reaching approximately RO 6.7 billion in 2025, up from RO 6.2 billion in 2024. Re-export activities recorded even stronger growth, rising 20.3% from RO 1.708 billion in 2024 to RO 2.056 billion last year.
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A tanker believed to be carrying Russian fuels is en route to Havana, Cuba, in a development that could challenge the oil blockade imposed by U.S. President Donald Trump’s administration amid a worsening energy crisis on the island. According to maritime intelligence provider Kpler Ltd, the vessel Sea Horse is expected to arrive in early March 2026 with nearly 200,000 barrels of Russian gasoil, a diesel-type fuel essential for transportation and power generation. The shipment was loaded via a ship-to-ship transfer off the coast of Cyprus, Matt Smith, lead oil analyst at Kpler.
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Maritime cooperation emerged as a key focus during high-level talks between the United States and Sri Lanka, as the Commander of the United States Pacific Fleet, Admiral Stephen T. Koehler, met with Sri Lanka’s Defence Secretary, Air Vice Marshal Sampath Thuyacontha (Retd), at the Ministry of Defence on 19 February. The discussions highlighted the changing security dynamics in the Indian Ocean Region, with both nations recognizing the importance of strengthening collaboration to address emerging maritime challenges. Both parties stressed the need to enhance maritime domain awareness, improve information sharing, and coordinate effectively to respond to natural disasters and humanitarian crises.
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The Saudi Ports Authority (Mawani) and Qatar Ports Management Co. have signed a new memorandum of understanding (MoU) aimed at enhancing maritime and logistics cooperation to drive regional and international trade growth.
The agreement was signed by Mawani President Suliman Al-Mazroua and Qatar Ports Management Co. CEO Abdullah Mohammed Al-Khanji, in the presence of Qatari Ambassador to Saudi Arabia Bandar bin Mohammed Al-Attiyah. The move underscores both sides’ shared commitment to advancing the ports and logistics sector, improving operational efficiency, and supporting stronger trade flows across the Gulf region.
Hungary and Slovakia have requested Croatia’s assistance to secure Russian oil supplies after flows via Ukraine were halted, prompting Hungary’s MOL company to release strategic crude reserves. The disruption, which started on January 27, has been attributed to a Russian attack on a Ukrainian pipeline, with Kyiv and Budapest exchanging accusations over responsibility. Ukrainian Foreign Minister Andrii Sybiha shared images on X showing Druzhba pipeline infrastructure on fire, while Hungary countered that Ukraine had cut power to the section of the pipeline. Slovak Prime Minister Robert Fico accused Ukraine of delaying the pipeline’s restart to pressure Hungary regarding its stance on Ukraine’s EU membership.
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China’s imports of Russian crude oil are set to reach a new record high in February 2026, marking rising Chinese demand even as India scales back its purchases of Russian oil, according to traders and ship-tracking data. China’s Russian oil imports are estimated at around 2.07 to 2.083 million barrels per day in February, up sharply from January’s estimated 1.7 million bpd, driven largely by independent Chinese refiners snapping up heavily discounted cargoes amid shifting global trade patterns.
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An international seminar organized by the IMO Future Fuels and Technology Project explored the latest developments in biofuels for the maritime sector, addressing both opportunities and challenges in using plant-based, waste oil, or agricultural residue fuels to reduce greenhouse gas (GHG) emissions from shipping. The seminar, held at IMO headquarters in London on 12 February, aimed to provide information and insights to policymakers and industry stakeholders on alternative fuels and emerging technologies, without engaging in formal policy negotiations.
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The International Maritime Organisation’s (IMO) Net Zero Framework (NZF) adjournment has increased the relative importance of European Union regulations, including FuelEU Maritime and the EU Emissions Trading Scheme (ETS). Shipowners with liquefied natural gas (LNG) engines are financially incentivized under these rules to transition to Bio-LNG, also known as biomethane, to meet decarbonisation targets. FuelEU Maritime strongly favors Bio-LNG because of its low to negative life cycle greenhouse gas (GHG) emissions and compatibility with existing LNG engines, offering a seamless pathway for operators to reduce emissions without extensive retrofitting.
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African maritime and trade officials are weighing the economic costs and strategic opportunities of proposed global shipping decarbonisation reforms under the International Maritime Organisation (IMO) Net Zero Framework (NZF), as concerns grow over potential impacts on freight rates, port competitiveness and trade flows across the continent. The debate took center stage on February 12, 2026, during the Regional African Port States Meeting on the IMO NZF held in Mombasa and convened by the Association of African Maritime Administrations (AAMA).
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Samsung Heavy Industries announced on 4 February 2026 that it has signed a business cooperation memorandum of understanding (MOU) with Qatar Shipyard Technology Solutions (QSTS) during LNG 2026, one of the world’s largest liquefied natural gas (LNG) conferences and exhibitions, held in Doha, Qatar.
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