India and the European Union are nearing the conclusion of a long-awaited free trade agreement (FTA), with negotiations expected to wrap up later this month, according to India’s Trade Secretary Rajesh Agrawal. If finalized, the deal would become India’s largest trade agreement, as New Delhi looks to diversify export markets amid ongoing U.S. tariff pressures and slower progress in trade talks with Washington.
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Maersk, the Danish shipping giant, has announced plans to resume limited operations through the Red Sea and Suez Canal later this month, ending more than a year of avoiding the critical route due to security concerns linked to Houthi attacks.
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Shanghai: COSCO Shipping Holdings has selected Jiangnan Shipyard for the construction of 12 new 18,000 TEU LNG dual-fuel container vessels, reinforcing its long-term fleet expansion and decarbonization strategy.
The shipbuilding contracts are signed and each ship is estimated to cost around RMB 1.4 billion (USD 200 million). The order is a significant move in the quest by COSCO Shipping to increase its fleet capacity, balance growth and competitive edge in the global container shipping market.
The Trump administration has finalized its first sale of Venezuelan crude oil, generating around $500 million in revenue, White House officials confirmed to multiple outlets Thursday. This landmark transaction marks the beginning of Washington’s efforts to market Venezuela’s energy resources globally following recent political developments.
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The SENSREC project of the International Maritime Organization has released a series of three parts of the video that demonstrate the various and significant roles played by women in the ship recycling sector. The campaign brings into focus how the industry can be more accommodating, fairer, and more productive through acknowledging and harnessing women’s transferable skills in the maritime workforce.
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Norway has issued 57 offshore oil and gas exploration licenses to 19 companies under in its latest annual licensing round and indicated that it will drill more acreage in the next year. This marks an increase in licenses awarded in mature areas, rising from 53 last year, while the total number of companies receiving permits decreased from 20, Energy Minister Terje Aasland announced at a recent energy conference.
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Canada and China are preparing to revive bilateral trade talks after years of diplomatic and economic strain, as shifting global trade dynamics and renewed US tariffs under President Donald Trump push both countries to reassess their reliance on Washington. Canadian Prime Minister Mark Carney’s first official visit to Beijing this week has signaled a possible reset in China–Canada trade relations, particularly in key sectors such as energy, agriculture, and raw materials.
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The United Kingdom is reportedly examining legal options to use oil seized from vessels linked to Russia’s so-called “shadow fleet” to help fund military assistance for Ukraine, according to The Times, citing a UK government source.
Russia has relied on a network of aging tankers, commonly referred to as the shadow fleet,to bypass Western sanctions imposed on its energy sector following the full-scale invasion of Ukraine in 2022. British officials are now assessing whether proceeds from sanctioned oil cargoes could be redirected away from Moscow and toward supporting Ukraine’s defense efforts.
Unidentified drones struck two Greek-owned oil tankers in the Black Sea on Tuesday, including a vessel scheduled to load Kazakh crude at Russia’s coast, according to officials. The incidents did not cause major damage and no injuries were reported among the crews.
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South Korea has reiterated its intention to join the trans-Pacific trade pact during high-level summit talks between President Lee Jae Myung and Japanese Prime Minister Sanae Takaichi, according to an official statement released. The discussions highlighted Seoul’s interest in acceding to the 12-member Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a major regional free trade agreement.
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Iran has reportedly released the Greek-owned oil tanker St. Nikolas, which had been detained since January 2024, according to maritime intelligence firm Tanker Trackers. The move appears to conclude the prolonged detention linked to previous U.S. sanctions enforcement involving the same vessel.
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Türkiye, a leading player in the global armed unmanned aerial vehicle (UAV/UCAV) market, is now leveraging its expertise in the maritime domain. As part of its strategy to protect maritime interests, Ankara has advanced the development of armed Unmanned Surface Vehicles (USVs) within its modern naval force structure.
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WASHINGTON– President Donald Trump announced on Monday that any country conducting business with Iran will face a 25% tariff on all trade with the United States, as Washington evaluates its response to Iran’s largest anti-government protests in years.“Effective immediately, any country doing business with the Islamic Republic of Iran will pay a25% tariff on all trade with the United States,” Trump stated on Truth Social, emphasizing the order as “final and conclusive.”
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Türkiye and Malaysia have agreed to establish a major joint shipyard in Malaysia’s southern state of Malacca, strengthening bilateral cooperation in the maritime and shipbuilding sectors.
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Nova Marine Carriers, in partnership with Germany’s Aug. Bolten and Spain-based Ership Group, has finalized the acquisition of 100% ownership of VCK Port Logistics along with its port infrastructure at the Port of Amsterdam. The deal was completed through the Dutch subsidiary Maja Stuwadoorsgroep B.V., strengthening the consortium’s operational footprint in one of Europe’s key maritime hubs.
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