Baltic Exchange Sued Over Hormuz Freight Losses
Commodity trader Mercuria is suing the Baltic Exchange, the world's top provider of benchmark shipping indices, over losses it said were caused by oil tanker pricing data that did not account for the effective closure of the Strait of Hormuz, a court filing showed.The U.S.-Israeli war with Iran, which began on February 28, has left hundreds of ships and 20,000 seafarers stranded inside the Gulf and…
Chouest Group Acquires Alliance Business from Helix Energy Solutions Group
The Chouest Group announced it has completed the acquisition of the Alliance business from Helix Energy Solutions Group. Alliance will be integrated into Champagne Energy Solutions (CES), expanding the Group’s offshore decommissioning and plug & abandonment (P&A) platform.The transaction builds on the recent formation of CES and advances the Chouest Group’s strategy to deliver fully integrated, end…
Op-Ed: The Jones Act Waiver, A Gift to China and NATO’s Iran Onlookers
When Iran closed the Strait of Hormuz, the Administration had a real problem on its hands. I understand why a White House would want to move fast, but moving fast and moving smart are not the same thing. This week the Administration extended the current Jones Act waiver for another 90 days. Washington needs to take an honest look at what this waiver has actually produced.The U.S. Maritime Administration (MARAD), which oversees the nation’s merchant fleet, has data that tells the story.
Venezuelan Oil Exports Rise to Highest Since 2018
Venezuela's oil exports rose 14% to 1.23 million barrels per day in April, the highest in more than seven years, fueled by more sales to the United States, India and Europe, shipping data and documents from state company PDVSA showed on Friday.The South American country has been draining oil inventories and recovering crude output in recent months following the U.S. capture of President Nicolas Maduro in January, which led to a flagship supply pact between the governments of U.S.
Ukrainian Drones Hit Tuapse Port Again, Environmental Crisis Deepens
Ukrainian drones struck Russia's Black Sea port of Tuapse on Friday for the fourth time in 16 days as authorities struggled to cope with a mounting environmental disaster from toxic black smoke clouds and oil leaking into the sea.Ukraine's SBU security service said drones had again struck the sea port and refinerythat make Tuapse an important hub for Russian oil exports.Reuters could not confirm the latest strike on the refinery…
TMC Seabed Mining Application Meets US Federal Requirements
The Metals Co said on Friday U.S. regulators have found its consolidated application for deep seabed mineral exploration and commercial recovery to be fully compliant with federal requirements, marking a key step toward potential approval.The company said it expects the regulatory process, including environmental review, to conclude by the end of first-quarter 2027.The National Oceanic and Atmospheric Administration determined that the application submitted by its U.S.
US Treasury Advises Shippers to Not Pay Tolls for Hormuz Passage
Any shipper paying tolls to Iran for passage through the Strait of Hormuz, including charitable donations to organizations such as the Iranian Red Crescent Society, is at risk of punitive sanctions, the U.S. Treasury warned on Friday.The Strait of Hormuz is one of the world’s most strategically vital maritime routes, with about 20% of the world’s seaborne crude oil and liquefied natural gas flows passing through it.Tehran has proposed fees or tolls on vessels passing through the Strait…
Gulf Coast Shipbuilding is the Anchor for America’s Maritime Comeback
The future of shipbuilding and maritime competitiveness will be featured at the Maritime Risk Symposium 2026, hosted by the Institute for Homeland Security, Sam Houston State University. On June 2–3, 2026 at LyondellBasell Center for Petrochemical, Energy and Technology in Pasadena, Texas, leaders from industry and academia will examine the strategy, workforce, investment, and partnerships needed to advance America’s maritime comeback.A new era in American shipbuilding is emerging, and the U.S.
Kelly, Garamendi Press SHIPS Act in Fox News Op-Ed
“Never before have we witnessed such comprehensive alignment between Republicans and Democrats, industry, and organized labor for rebuilding our great nation’s maritime industry.”Arizona Senator and U.S. Merchant Marine Academy alum Mark Kelly (D-AZ) and Representative John Garamendi (D-CA-08) published an op-ed in Fox News highlighting the momentum to rebuild the U.S. declining maritime industry, which poses a serious threat to U.S. national security and the economy.
Vessel Sector Deep Dive: WTIVs
The changing global bottom-fixed offshore wind turbine and foundation installation marketThe last two or three years have seen a change in the underlying stakeholder support for the energy transition, resulting in the energy trilemma being focused more on energy security and affordability than transition, which means a pivot away from renewables to increased support for oil & gas. At the same time, inflation and interest rates have impacted project economics.
Ocean Minerals Are Becoming a Real US Opportunity
Momentum around critical minerals in Washington is no longer hypothetical. Policymakers are now focused on practical steps to expand domestic access to the raw materials that underpin national security, advanced manufacturing, and modern energy systems. Ocean minerals are front and center of this conversation and the offshore industry is prepared to play a central role. Congressional attention is growing…
Port Snared in US-China Dispute, says Panama President
Panama President Jose Raul Mulino said his country maintains a positive relationship with China despite being caught up in a dispute between the Asian superpower and the U.S., and defended Panama's takeover of port contracts held by Hong Kong's CK Hutchison.He spoke at a regular press conference after receiving what he called a "high-level" message from China's government acknowledging that a dispute over the port contracts will be heard by international arbitration courts…
Opinion: Mixed Messages, Military Mismatch Erode U.S., Europe Pact
As America’s European allies digest the diplomatic fallout of their spat with the Trump administration over their inaction on Iran, the U.S. Army in Europe has kept pushing forward with its training programme for the year in several nervous nations on NATO’s eastern flank.The next phase of activity, known by the U.S. military as Exercise Sword 26, sees more than 15,000 NATO personnel – more than a…
USCG Back in Business, Trump Signs Bill to fund DHS
U.S. President Donald Trump on Thursday signed into law legislation funding Department of Homeland Security agencies including the Secret Service and Transportation Security Administration, ending a partial shutdown that has gripped DHS operations for nearly 11 weeks.The logjam was broken when the Republican-controlled House of Representatives unanimously passed a Senate-approved bill that conservatives…
US Naval Blockade Hammers Iran Oil Exports, Forces Floating Storage
A U.S. naval blockade of Iranian ports has shrunk Tehran's oil exports, stranding a growing stockpile of crude on tankers as Iranian storage sites run out of space, shipping data showed and analysts said.With some vessels switching off tracking systems and U.S. forces turning back Iranian tankers, how much crude Iran is delivering to customers, particularly main customer China, is impossible to measure.Just…
