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Maritime Trade & Economy

Oil Prices Drop 7% as Trump Signals Possible End to Middle East Conflict

Oil prices fell sharply by 7% on Tuesday, retreating from a more than three-year high after U.S. President Donald Trump suggested that the Middle East war could end soon, easing fears of prolonged disruptions to global oil supplies.
Brent crude dropped $6.79, or 6.9%, to $92.17 per barrel, while U.S. West Texas Intermediate (WTI) slid $6.55, or 6.9%, to $88.22 per barrel. Both benchmarks briefly fell as much as 11% before moderating losses. Oil had surged past $100 per barrel on Monday, its highest since mid-2022, fueled by supply cuts from Saudi Arabia and concerns over U.S.-Israeli military actions against Iran.

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Maritime Trade & Economy

China Strengthens Global Maritime Power with Largest Fleet and Skilled Seafaring Workforce

China continues to solidify its position as a leading maritime power, with its massive shipping fleet and highly trained seafaring workforce driving international trade dominance. According to Ni Di, deputy to the 14th National People’s Congress and senior ship captain at State-owned China COSCO Shipping Corp, about 95% of China’s foreign trade cargo is transported by sea, while the nation’s international shipping volume accounts for nearly one-third of global maritime trade.

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Maritime Safety , Security and Technology

Sweden Arrests Crewmember After Boarding Stateless Cargo Ship ‘Caffa’ in Baltic Waters

Swedish authorities have arrested a crewmember from the stateless cargo ship Caffa after boarding and detaining the vessel in Swedish territorial waters near Trelleborg. The action, carried out by the Swedish Coast Guard in coordination with the Swedish Police Special Intervention Unit, is part of an ongoing investigation into alleged violations of maritime law, including the use of a false flag and unsafe vessel operations.

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Ports and Shipping

CLdN Starts Construction of First 1,100-TEU LoLo Container Vessel at HD Hyundai Ulsan Yard

CLdN has officially begun construction of the first of six 1,100-TEU load-on/load-off (LoLo) container vessels at HD Hyundai Mipo Shipyard, marking a strategic expansion in its container shipping operations alongside its core roll-on/roll-off (RoRo) services. The steel-cutting ceremony signals the start of the vessel build, with deliveries scheduled to begin in 2027.
Each vessel is designed with a 1,100-TEU capacity and an open-top configuration to reduce port handling times, boosting efficiency for the company’s growing LoLo container segment. This newbuilding programme forms part of CLdN’s broader strategy to strengthen its presence in European and global maritime logistics.

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Maritime Safety , Security and Technology

IMO Secretary-General Condemns Seafarer Deaths in Strait of Hormuz, Calls for Protection of Global Shipping Crews

The Secretary-General of the International Maritime Organization, Arsenio Dominguez, has condemned the recent deaths of seafarers in the Strait of Hormuz, warning that attacks on commercial vessels threaten global shipping and the safety of maritime workers.
In an official statement issued after a deadly maritime incident on 6 March 2026, the IMO Secretary-General said he was “alarmed and deeply saddened” by reports that at least four seafarers were killed and three others severely injured following an attack on a vessel transiting the Strait of Hormuz.

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Maritime Safety , Security and Technology

Gwadar Fisherman Killed After Debris from Intercepted Israeli Projectile Hits Boat in Iranian Waters

A fisherman from Gwadar was killed after debris from an Israeli projectile intercepted by Iranian air defence systems struck his fishing boat in Iranian territorial waters, local officials confirmed on Sunday.
According to authorities, the incident occurred on Saturday in waters near Sistan-Baluchistan Province, highlighting growing risks for fishermen operating near regional maritime zones amid rising tensions in the Middle East.

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Maritime Trade & Economy

Strait of Hormuz Shipping Crisis Disrupts Gulf Container Trade as Global Carriers Suspend Services and U.S. Announces $20 Billion Maritime Insurance Support

A deepening shipping crisis in the Strait of Hormuz has severely disrupted global container trade, forcing major shipping lines to suspend services and invoke force majeure clauses while the United States moves to stabilize maritime insurance with a $20 billion reinsurance backstop.
The disruption followed escalating regional tensions after military strikes involving the United States, Israel, and Iran, which effectively halted commercial navigation through one of the world’s most critical energy and trade corridors. Vessel traffic through the narrow waterway has reportedly fallen by nearly 90 percent, dropping sharply from the historical average of about 138 ships per day.

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Ports and Shipping

15 Energy and Cargo Ships Safely Reach Chattogram Port after Crossing Strait of Hormuz amid Middle East Tensions

Amid rising geopolitical tensions in the Middle East, fifteen cargo vessels transporting large volumes of LNG, LPG, fuel oil, diesel, and industrial raw materials have successfully arrived at Port of Chattogram, easing concerns over the country’s energy and import supply chain. The vessels crossed the critical Strait of Hormuz before the regional conflict intensified, according to port authorities.
The ships, which departed from several Middle Eastern ports, delivered nearly 250,000 tonnes of energy cargo and industrial supplies. Port officials confirmed that unloading operations are currently underway to ensure the timely distribution of fuel and materials to industries across Bangladesh.

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Ports and Shipping

IAPH President Jens Meier Leads Maritime Delegation to Chennai and Kamarajar Ports to Strengthen Global Port Collaboration

Jens Meier, President of the International Association of Ports and Harbors (IAPH) and CEO of the Hamburg Port Authority (HPA), led delegations representing both organizations on an official visit to Chennai Port Authority and Kamarajar Port in India in late February.
During the visit to Chennai Port, the delegation participated in an extensive port tour that included a briefing at the port’s signal station and a vessel ride within the port basin to observe marine operations, port navigation systems, and harbor management practices. The tour provided delegates with first-hand insights into operational procedures and maritime safety systems at one of India’s key container and cargo ports.

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Maritime Safety , Security and Technology

BIMCO Comments on US Proposal to Introduce Protective Measures for Shipping in the Strait of Hormuz

BIMCO’s Chief Safety & Security Officer, Jakob Larsen, has commented on the proposal from US President Donald Trump to launch initiatives aimed at protecting shipping. In a statement, he said:
The announcement from US President Donald Trump about selling “political risk insurance and guarantees for the financial security of all maritime trade, especially energy shipments traveling through the Gulf” has yet to be fully explained. Depending on the details of the proposal, it could help shift the risk–reward balance and encourage more shipowners to resume operations in the high-threat area.

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Maritime Safety , Security and Technology

ICS Chairman Emanuele Grimaldi Raises Alarm over Seafarer Safety amid Strait of Hormuz Shipping Crisis

The International Chamber of Shipping (ICS) has voiced serious concern over the safety of seafarers operating in the Strait of Hormuz, as rising regional tensions continue to threaten one of the world’s most critical global shipping routes.
In a statement issued yesterday, ICS Chairman Emanuele Grimaldi said he was deeply concerned about the risks faced by maritime crews navigating the Gulf region while performing their duties in the international shipping and maritime trade sector.

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Maritime Trade & Economy

Pakistan Reviews Maritime Trade Strategy as Minister Junaid Anwar Chaudhry Highlights Shipping Opportunities

Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry on Thursday chaired a high-level meeting to assess emerging logistical challenges facing Pakistan’s trade, particularly in the energy sector, amid evolving geopolitical tensions in the region.
The 11-member committee, constituted on the directives of the Prime Minister to formulate a comprehensive response strategy aimed at safeguarding Pakistan’s maritime trade interests, has been tasked with submitting its recommendations within two days.

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Maritime Environment Policy and Law

IMO and Paris MoU Strengthen Port State Control Transparency with Updated Data-Exchange Agreement

In a significant move to enhance Port State Control (PSC) transparency and cooperation, the International Maritime Organization (IMO) and the Paris Memorandum of Understanding on Port State Control (Paris MoU) signed an updated data-exchange agreement at IMO Headquarters in London on 26 February.
The agreement, formalized by IMO Secretary-General Arsenio Dominguez and Paris MoU Secretary-General Luc Smulders, aims to strengthen global maritime cooperation and improve information sharing, making ship inspections more effective worldwide.

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Maritime Safety , Security and Technology

UAE Tug Struck by Missiles While Assisting Abandoned Container Ship in Strait of Hormuz

A UAE-registered tugboat was reportedly struck by missiles while attempting to assist the abandoned container ship Safeen Prestige in the Strait of Hormuz, resulting in the death of all crew members on board.

According to the UK Maritime Trade Operations (UKMTO), third-party reports confirmed that the tug was hit by unknown projectiles 6 nautical miles north of Oman. Maritime security firm Vanguard Tech confirmed that the UAE-flagged tug Mussafah 2 was struck by two missiles during rescue operations. All eight crew members on board the tug are believed to have perished in the attack 18 nautical miles off Khasab, Oman.

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