Maritime and shipping news covering container lines, ports, freight rates, shipbuilding, and global trade routes.
A missile strike on the Marshall Islands-flagged MT Velos Sapphire in the Persian Gulf killed one crew member. The vessel was en route to Bahrain when the explosion occurred, marking another escalation in Iranian attacks on shipping in the Strait of Hormuz.
Indian oil refiner Hindustan Petroleum Corp. reports ongoing difficulties booking tankers to transit the Strait of Hormuz due to freighter availability and late voyage cancellations. Despite these logistical challenges, crude supply from the Persian Gulf region is increasing.