Maritime and shipping news covering container lines, ports, freight rates, shipbuilding, and global trade routes.
Crews located the Volare using sonar and are inspecting it with a remotely operated vehicle. The 49-foot cabin cruiser capsized with 20 aboard during a memorial service, killing two and leaving two missing. The Coast Guard suspended its search after covering over 950 square nautical miles.
The IMO's operation to evacuate over 11,000 seafarers from the Strait of Hormuz stalled after the Singapore-flagged Ever Lovely was attacked near Oman. Iran's Revolutionary Guard criticized the operation for lacking Iranian involvement, asserting sole authority over shipping routes. Over 100 of 600+ ships escaped before the halt.
U.S. Marines from the 11th Marine Expeditionary Unit boarded the sanctioned oil tanker M/T Wen Yao in the Gulf of Oman as part of a naval blockade against Iran. The boarding was documented in a video released by the marines.
Suspected Somali pirates seized the chemical tanker Asana in the Gulf of Aden off Yemen, with the British navy reporting the boarding 65 nautical miles south of Al Mukalla. The EU's Aspides mission and a South Korean warship are assisting the vessel, which had listed Bosaso as its next destination.
A South Korean oil tanker successfully crossed the Red Sea and is returning home, the 14th crude shipment to use the route. The tanker loaded at Saudi Arabia's Yanbu Port. The government sees the Red Sea as the most realistic alternative amid the Strait of Hormuz blockade by Iran.
Commercial sailors face increased danger in the Gulf, highlighted by a recent incident where a ship crossed the Strait of Hormuz. Herambh Karmarkar's wife received messages from him after his ship safely crossed, underscoring the peril.
Port of Los Angeles Executive Director Gene Seroka said ocean shippers are abandoning traditional seasonal shipping patterns, moving cargo whenever there is a favorable opening. The port processed over 1 million TEUs in June 2026, its best June in 118 years, as retailers frontload cargo amid supply chain uncertainty.
At least four oil tankers were observed transferring cargoes near Fujairah and Sohar, indicating continued transits through the Strait of Hormuz after recent Iranian attacks. Satellite images from the EU's Copernicus browser confirmed the ship-to-ship transfers.
Citigroup credit traders and analysts are advising hedge fund clients to short bonds of French shipping giant CMA CGM Group. Citi argues bond prices should fall as more shipping capacity comes online and freight rates decline.