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The latest news and commentary on how the US/Israel-Iran conflict is affecting the global maritime industry and shipping markets. A third ADNOC vessel was struck in two days in the Strait of Hormuz August 17, 2026 With a spate of attacks on vessels affiliated toAbu Dhabi National Oil Co (ADNOC)the frequency of hostile actions against commercial shipping is increasing according to the Joint Maritime Information Center (JMIC). According to the UKMTO the hull of a bulker was struck by an unknown projectile while it was transiting the Omani corridor through the Strait of Hormuz. The vessel’s crew were reported to be safe with no casualties from the incident. Maritime security firm Vanguard Tech said the vessel involved was the Liberian registered bulkerAl Watan. According to Pole Star Global’s PurpleTrac the 2012-builtAl Watanis owned by ADNOC Logistics & Services. A day earlier on 13 August two ADNOC affiliated vessels theNavig8 Messi, owned by Navig8 majority owned by ADNOC L&S, and the Liberian-flagged AframaxTarif,owned by ADNOC L&S, were reported struck by UAVs during outbound voyages in the Strait. Related:US forces strike container ship in Gulf of Oman off Pakistan Both vessels were reported to have sustained minor damaged and continued sailing under their own power. All crew were reported safe and accounted for with no environmental damage. The two attacks were strongly condemned by theUAEgovernment which accused Iran of engaging in piracy. The threat level in the Strait remains at severe according to the JMIC, its second highest level with “deliberate hostile actions considered likely”. “Attack frequency against commercial shipping in the Strait has increased over the reporting period, including unknown-projectile strikes on both inbound and outbound transiting vessels. Reported damage has generally been limited; most vessels have continued under their own power, with no confirmed crew casualties,” JMIC said in an update released on 16 August. The increase in the number of attacks on commercial shipping was assessed as consistent with the severe threat level and did not indicate a change in intent or capability. “Maritime traffic through the Strait of Hormuz is expected to remain at reduced levels across both the northern Iranian-controlled route and the southern Omani corridor. Operator caution should continue, driven by a series of vessel attacks, ongoing US blockade enforcement, and elevated regional tension,” JMIC said. Read more about: Marcus Hand Editor Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia. Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation. In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology. Marcus is the founder of theSeatrade Maritime Podcastthat delivers commentary, opinions and conversations on shipping's most important topics. Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars. Wind-Assisted Propulsion: Are we ready? at Seatrade Maritime Crew Connect Global 2024 IMPA 2024 SingaporeMaritime Procurement and Sustainability Panel, November 2024 Goodbye Globalization? Red Sea Impacts Reviewed,EGN Singapore (Executives' Global Network)webinar, February 2024 Offshore Marine Breakfast Forum atSea Asia 2023 Sustainable Finance, Shipping & Technology at Hong Kong Maritime Week 2022 Building & Operating Dual-Fuel Vessels, February 2022 Shipping’s Decarbonisation Challenge – The Role of Technology and Digitalisation at Hong Kong Maritime Week 2021 The Challenge Faced by Ship Registries in a Digital and Post-Pandemic Era, October 2020 The Future of Transhipment Hubs Post-Pandemic, November 2020 Offshore Marine Breakfast Forum at Sea Asia 2019 Marcus Hand regularly guests on mainstream media talking about maritime and shipping news stories. Below you'll find a list of selected appearances KBS World Radio -Korea24,May 2026 BBC News -Hindi Service,April 2026 RNZ -First Up, April 2026

The latest news and commentary on how the US/Israel-Iran conflict is affecting the global maritime industry and shipping markets. ADNOC L&S and Navig8 tankers were reportedly struck by Uncrewed Aerial Vehicles during outbound transits of the waterway August 14, 2026 The latest attacks in the Strait of Hormuz on two tankers affiliated to Abu Dhabi National Oil Co. (ADNOC)has been condemned by theUAE. “The United Arab Emirates has strongly condemned and denounced the hostile Iranian attack that targeted two vessels affiliated with ADNOC as they transited the Strait of Hormuz, with no injuries reported,” the UAE Ministry of Foreign Affairs said in a statement. It said that attacks on commercial ships by Iran’s Islamic Revolutionary Guard Corps represented acts of piracy. The UKMTO reported that two tankers were reported to have been hit by UAVs on 13 August during outbound transits of the Strait of Hormuz according to reports from military authorities, the UKMTO said. Both reports were timed at 15:52 hrs UTC. According to maritime security firm Vanguard Tach the tankers involved were theSingapore-flagged product tankerNavig8 Messi, owned by Navig8 majority owned by ADNOC L&S, and the Liberian-flagged AframaxTarif,owned by ADNOC L&S. Related:VLCC spot rates hit the stratosphere with Sinokor Hormuz fixture Both vessels were reported to have sustained minor damaged and continued sailing under their own power. All crew were reported safe and accounted for with no environmental damage. Both tankers had their AIS transponders turned off at the time of the attacks. The UAE Ministry of Foreign Affairs stated: “The UAE further stressed the need for Iran to halt these attacks, ensure its full commitment to an immediate cessation of all hostilities, and the complete and unconditional reopening of the Strait of Hormuz in order to safeguard regional security, and maintain the stability of the global economy and trade.” The latest attacks bringing the number of ADNOC vessels targeted by drones or missiles since the start of the US – Iran conflict to 17. Three attacks in the first week of August resulted in one seafarer being killed and 20 injured. Read more about: Marcus Hand Editor Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia. Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation. In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology. Marcus is the founder of theSeatrade Maritime Podcastthat delivers commentary, opinions and conversations on shipping's most important topics. Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars. Wind-Assisted Propulsion: Are we ready? at Seatrade Maritime Crew Connect Global 2024 IMPA 2024 SingaporeMaritime Procurement and Sustainability Panel, November 2024 Goodbye Globalization? Red Sea Impacts Reviewed,EGN Singapore (Executives' Global Network)webinar, February 2024 Offshore Marine Breakfast Forum atSea Asia 2023 Sustainable Finance, Shipping & Technology at Hong Kong Maritime Week 2022 Building & Operating Dual-Fuel Vessels, February 2022 Shipping’s Decarbonisation Challenge – The Role of Technology and Digitalisation at Hong Kong Maritime Week 2021 The Challenge Faced by Ship Registries in a Digital and Post-Pandemic Era, October 2020 The Future of Transhipment Hubs Post-Pandemic, November 2020 Offshore Marine Breakfast Forum at Sea Asia 2019 Marcus Hand regularly guests on mainstream media talking about maritime and shipping news stories. Below you'll find a list of selected appearances KBS World Radio -Korea24,May 2026 BBC News -Hindi Service,April 2026 RNZ -First Up, April 2026

Marcura executive to become Baltic Exchange’s first female CEO next year. August 12, 2026 TheBaltic Exchangeannounced that Sigrid Teig has been appointed as deputy CEO and will join the company later this year. The appointment concludes a process that began in October 2025 when Baltic Exchange announced it was searching for a new CEO to report into current CEO Mark Jackson as part of an “orderly leadership transition”. Jackson will work closely with Teig while taking on a wider remit with a focus on strategic initiatives and product evolution, the company said. Teig’s most recent experience was as executive managing directorSingaporeand executive vice-president of customer success for DA-Desk and PortLog at maritime digital solutions company Marcura. “It is an honour to join Baltic Exchange at such an exciting yet critical time for the global maritime sector,” said Teig. “More than ever, our industry needs effective, reliable benchmarking data to navigate volatility, boost transparency and support the decision-making of shipping’s stakeholders.” Related:AI and tracking the dark fleet Teig brings more than 15 years of leadership experience to the role, across key segments for the Baltic Exchange: shipping, maritime services, and digital transformation. Much of Teig’s experience has been in Singapore, where she worked as general manager of Western Bulk’s Singapore office, among other roles. Commenting on the appointment, Jackson said: “We are thrilled to welcome Sigrid to Baltic Exchange. Her experience in commercial leadership, stakeholder management and shipping markets will complement the Baltic’s leading role in benchmark administration, enhancing our position and value to the global maritime community.” Michael Syn, president of SGX Group, said, “Few institutions embody the combination of global influence, enduring relevance and trusted stewardship that has defined the Baltic Exchange for centuries. The Baltic remains a valued part of SGX Group and central to our long-term ambitions. Under Mark’s leadership, the business has built a strong platform for growth, and we are delighted to welcome Sigrid to the team. Her track record at the forefront of data-led transformation and deep roots in Asia’s shipping community will further strengthen the Baltic’s position at the heart and future of global maritime markets.” Read more about: Gary Howard Middle East correspondent Gary Howard is the Middle East Correspondent for Seatrade Maritime News and has written for Seatrade Cruise, Seatrade Maritime Review and was News Editor at Lloyd’s List. Gary’s maritime career started after catching the shipping bug during a research assignment for the offshore industry. Working out of Seatrade's head office in the UK, he also produces and contributes to conference programmes for Seatrade events including CMA Shipping, Seatrade Maritime Logistics Middle East and Marintec. Gary’s favourite topics within the maritime industry are decarbonisation and wind-assisted propulsion; he particularly enjoys reporting from industry events. Gary Howard regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars. Ports of Refuge: Strengthening Maritime Resilience, at Seatrade Maritime Logistics Middle East 2025 Debunking LEO and Cloud for Maritime Industry, December 2022 (watch on-demand recording) Making Data Work for Shipping at Seatrade ShipTech Virtual 2021 Is the Zero-Carbon Future a Slow Shipping Future?at Seatrade ShipTech Virtual 2021 Is Ship Finance Transforming Faster than Shipping?at Seatrade ShipTech Virtual 2021

SeaLead and HMM account for most of the reduction as conflict in the Red Sea and Strait of Hormuz impacts deployed capacity August 12, 2026 A decrease of 312,000 teu of deployed capacity compared to a year ago can be attributed to the wider Middle East conflict according toAlphaliner. In what is an effective 14% year-on-year decline in capacityHMMwithdrew from the trade, taking 115,000 teu out of the trade while the liquidation of SeaLead added a further 66,000 teu of offered capacity that has been withdrawn. “Singapore-based SeaLead Shipping has filed for voluntary liquidation, bringing to a close a near-decade of operations,” commented Alphaliner, who added that the company’s demise followed “aggressive sanctions by the US over its alleged links to Iran.” In 2025 the US Office of Foreign Assets Control issued sanctions against 16 SeaLead vessels that were ultimately scrapped. New sanctions were issued by the same office against the company and its subsidiaries, including those in India, the UAE and Marshall Islands. Carriers that held less than 1% of the deployed capacity along with HMM and SeaLead accounted for nearly 90% of the decline in capacity on the trades. Related:Container carriers line up Arctic services as Red Sea alternative CMA CGM, which has ordered vessels at Indian shipyards and reflagged some of its tonnage to the Indian register, increased its capacity by 70,000 teu, via the launch of the Far East–India 'TVI' and Far East–Middle East 'CIMEX3'. “These more than offset the downsizing of 'CIMEX', where ship sizes fell from around 10,000–16,000 teu to 2,800–5,100 teu. Earlier this year, the 'CIMEX' left the OCEAN Alliance network and became a standaloneCMA CGMservice,” commented Alphaliner. Meanwhile,CoscoGroup suspended the Ocean Alliance's 'MEA5', to which Cosco had contributed six 19,000–21,000 teu ships. However, the carrier added the Far East – ISC 'SEI1' and 'SEI2' services and increased contributions to three other services. The world’s largest carrier also increased its offered capacity by increasing the size of its ships, while decreasing the number of vessels from 25 to 18. MSCupgraded its Far East - ISC 'Shikra' service from ships of between 8,000 and 9,500 teu to between 19,000 and 24,000 teu and added Khor Fakkan and Sohar to its rotation. Read more about: Nick Savvides Europe correspondent Experienced journalist working online, in monthly magazines and daily news coverage. Nick Savvides began his journalistic career working as a freelance from his flat in central London, and has since worked in Athens, while also writing for some major publications including The Observer, The European, Daily Express and Thomson Reuters. Most recently Nick joined The Loadstar as the publication’s news editor to develop the profile of the publication, increase its readership and to build a team that will market, sell and report on supply chain issues and container shipping news. This was a similar brief to his time at ci-online, the online publication for Containerisation International and Container News. During his time at ci-online Nich developed a team of freelancers and full-time employees increasing its readership substantially. He then moved to International Freighting Weekly, a sister publication, IFW also focused on container shipping, rail and trucking and ports. Both publications were published by Informa. Following his spell at Informa Nick joined Reed’s chemical reporting team, ICIS, as the chemical tanker reporter. While at ICIS he also reported on the chemical industry and spent some time on the oil & gas desk. Nick has also worked for a time at Lloyd’s Register, which has an energy division, and his role was writing their technical magazine, before again becoming a journalist at The Naval Architect for the Royal Institution of Naval Architects. After eight successful years at RINA, he joined Fairplay, which published a fortnightly magazine and daily news on the website. Nick's time at Fairplay saw him win theSeahorse Club Journalist of the Year and Feature Writer of the Year 2018 awards. After Fairplay closed, Nick joined an online US start-up called FreightWaves.

The latest news and commentary on how the US/Israel-Iran conflict is affecting the global maritime industry and shipping markets. Insurance loss payment relates to loss of the Mayuree Naree and crew compensation August 7, 2026 Precious Shippinghas received $10.98 million in war risk insurance payouts for the loss of the bulkerMayuree Nareefrom a attack in the Strait of Hormuz on 11 March that left three crew dead. The bulker was hit by two projectiles while exiting the Arabian Gulf resulting in a total constructive loss of the vessel. In Precious Shipping’s second quarter newsletter the company said it had received $10.98 million in war risk proceeds related to vessel's loss and statutory crew compensation. It said $1.26 million in expenses were incurred as a result of the incident. Of the 23 crew onboard the vessel at the time of the attack 20 were rescued while three died in the incident. Precious said 17 of the 20 surviving crew had returned to work while the three other seafarers were taking legal action against the company and “certain parties”. On 10 July former crew members Panithi Tumkaew, Noppadon Wongsuvan and Suradech Manpuen filed a lawsuit in the Central Labour Court in Bangkok against Precious Shipping, two affiliated companies - Precious Flowers and Great Circle Shipping Agency - and the vessel's captain, Sathaporn Hoksee. The suit claimed the companies acted negligently by ordering the ship to transit the strait during the conflict. Related:Will the US - Iran ceasefire ease fertiliser crisis? In a statement issue on 10 July Precious Shipping said that it had “consistently acted in compliance with applicable laws, contractual obligations, and internationally accepted maritime practices”. In its second quarter newsletter the company said it was defending the claim and at this stage does not expect any impact on its 30 June financial statements. Meanwhile a second Precious Shipping bulker theHatthaya Nareeremains stranded in the Gulf having been redelivered from her previous charter at Hamriyah,UAEin early March. The vessel was fixed on a new charter on 24 June but has yet to exit the Gulf. “However, due to the continuing security situation in the Strait of Hormuz, the vessel remains in the region pending safe onward transit,” the company said. Read more about: Marcus Hand Editor Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia. Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation. In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology. Marcus is the founder of theSeatrade Maritime Podcastthat delivers commentary, opinions and conversations on shipping's most important topics. Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars. Wind-Assisted Propulsion: Are we ready? at Seatrade Maritime Crew Connect Global 2024 IMPA 2024 SingaporeMaritime Procurement and Sustainability Panel, November 2024 Goodbye Globalization? Red Sea Impacts Reviewed,EGN Singapore (Executives' Global Network)webinar, February 2024 Offshore Marine Breakfast Forum atSea Asia 2023 Sustainable Finance, Shipping & Technology at Hong Kong Maritime Week 2022 Building & Operating Dual-Fuel Vessels, February 2022 Shipping’s Decarbonisation Challenge – The Role of Technology and Digitalisation at Hong Kong Maritime Week 2021 The Challenge Faced by Ship Registries in a Digital and Post-Pandemic Era, October 2020 The Future of Transhipment Hubs Post-Pandemic, November 2020 Offshore Marine Breakfast Forum at Sea Asia 2019 Marcus Hand regularly guests on mainstream media talking about maritime and shipping news stories. Below you'll find a list of selected appearances KBS World Radio -Korea24,May 2026 BBC News -Hindi Service,April 2026 RNZ -First Up, April 2026

Singapore-based container operator SeaLead Shipping —on the verge of liquidation— is understood to have already disposed of most of its assets, both ocean and inland. According to industry sources associated with SeaLead operations in India, Corten Shipping has taken over its container equipment. Corten, which primarily operates in trades to Russia and the Persian Gulf, had been a group affiliate of Sealead in some form, but is believed to delinked from the ill-fated liner. “All boxes have been taken over by Corten Shipping,” (part of UK-based Corten Logistics), one source toldThe Loadstar. Corten also has an NVO arm, Giga Shipping India. No specifics regarding ownership changes were immediately available. In its heyday, SeaLead had some 53 containerships in its fleet, mostly on charters – reportedly 51. Following US sanctions over its alleged links to Iran, the company was forced to surrender the vessel charters and, according to available information, Chinese operator CULines has taken over the majority of the released ships. “CULines has, in multiple rounds, acquired vessel charters that SeaLead had held with Greek shipowner Danaos,” the source added. As a result, CULines has expanded its operating fleet to 48 containerships, and recently confirmed deals for six newbuilds, including four conventionally fuelled vessels at 6,400 teu from China’s CSSC Huangpu Wenchong Shipbuilding. Established in 2017, SeaLead rapidly emerged as a leading liner operator, reaching 13th place in the global container line rankings, according to maritime analyst Alphaliner. But the niche carrier’s fortunes began to darken in July 2025, when 16 of its chartered ships were sanctioned by the US Office of Foreign Asset Control , crippling its network operations. SeaLead’s financial troubles deepened in early March this year, when the US Department of Justice seized around $2.4m of its funds as part of a sanctions-related forfeiture tied to alleged Iranian oil trade, say reports. Those setbacks culminated in SeaLead approaching Singapore’s Accounting and Corporate Regulatory Authority (ACRA) to liquidate the company.

The Houthi threat in the Red Sea is seeing the rerouting of tanker flows via the Med and Suez adding to market inefficiencies August 7, 2026 With the Houthi threat to vessels that have called atSaudiports in the Red Sea tanker owners are reroutingVLCCsvia theSuez Canal. Following the Houthi in Yemen’s blockade of Saudi Arabian ports on 20 July the group has targeted a number of Saudi tankers as far north as the Red Sea loading port of Yanbu, and also the Gulf of Aden. Attacks so far have targeted Saudi owned tankers, however, the blockade threat from the Houthi covers vessels that have called in Saudi ports. With very limited traffic passing through the Strait of Hormuz Saudi has rerouted crude oil exports via the country’s east – west pipeline and VLCC loadings in Yanbu on the Red Sea have reportedly quadrupled as a result since the start of the US – Iran war at the end of February. Asked about the impact of the Houthi threat in its second quarter earnings callDHT HoldingsCEO Svein Moxnes Harjfeld said that previously its VLCCs had done several loadings in Yanbu entering and exiting the Red Sea via the Bab el-Mandeb, however, with the Houthi threat this had become more challenging. “The result of that is that our ships have then typically exited the Red Sea through the Suez Canal and then rerouted, of course, then adding significant transportation distances to the transportation work being conducted.” Related:Weekly tanker and dry bulk time charter rates - 5 August He added that it was “fair to say most of the VLCC loadings, not just ours, have been directed northwest bound”. The rerouting of shipments northwards is resulting in trade changes with VLCCs either offloading part of their cargo to move via the 320km pipeline Sumed while the vessel transits the Suez Canal, and the direct loading of shipments in the Med at the port of Sidi Kerir connected to the Sumed pipeline. “So, we have ships loading at Yanbu, you need to offload about half of the cargo in order for the VLCC to transit the canal, and then you reload on the other end. There are also some ships, not ours or under our sort of commercial control that are shuttling between Yanbu and Ain Sukhna. One of our time charter contracts is involved in that business,” Harjfeld explained. He said that some fixtures, mainly from the Atlantic basin, are seeing tankers load directly in Sidi Kerir to move cargoes to Europe and the Far East. “All of this, again, is just creating disruption, reducing the efficiency of the fleet and thereby making the general markets much tighter,” he said. Analysts Poten estimated recently that shipping Middle East crude from Yanbu to South Korea, for example, via the Mediterranean increases voyage length from 24 days to 54 days. Related:Houthi claim strike on Saudi tanker in the Red Sea For Q3 DHT has booked 79% of its VLCC fleet’s spot days at an average rate of $152,700 per day. Read more about: Marcus Hand Editor Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia. Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation. In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology. Marcus is the founder of theSeatrade Maritime Podcastthat delivers commentary, opinions and conversations on shipping's most important topics. Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars. Wind-Assisted Propulsion: Are we ready? at Seatrade Maritime Crew Connect Global 2024 IMPA 2024 SingaporeMaritime Procurement and Sustainability Panel, November 2024 Goodbye Globalization? Red Sea Impacts Reviewed,EGN Singapore (Executives' Global Network)webinar, February 2024 Offshore Marine Breakfast Forum atSea Asia 2023 Sustainable Finance, Shipping & Technology at Hong Kong Maritime Week 2022 Building & Operating Dual-Fuel Vessels, February 2022 Shipping’s Decarbonisation Challenge – The Role of Technology and Digitalisation at Hong Kong Maritime Week 2021 The Challenge Faced by Ship Registries in a Digital and Post-Pandemic Era, October 2020 The Future of Transhipment Hubs Post-Pandemic, November 2020 Offshore Marine Breakfast Forum at Sea Asia 2019 Marcus Hand regularly guests on mainstream media talking about maritime and shipping news stories. Below you'll find a list of selected appearances KBS World Radio -Korea24,May 2026 BBC News -Hindi Service,April 2026 RNZ -First Up, April 2026

Despite Houthi claims to have hit the Saudi owned Daisy maritime security sources report an explosion close to the vessel August 6, 2026 The Houthi have widened their targeting of vessels it links toSauditrade firing on a tanker in the Gulf of Aden. The Houthi’s Yemini Armed Forces claimed to have hit the tanker Saudi tankerDaisyin the Gulf of Aden in the with a ballistic missile forcing it to turnaround from heading towards the Bab el-Mandeb Strait. While the Houthi claim to have hit the tanker the UKMTO said there was a loud explosion in close proximity to the vessel that was 95 nm southeast of Aden at the time of the incident at 14:30 hrs UTC on 5 August. According to maritime security firm Vanguard Tech the tanker involved was flagged with the Dominican Republic and the Master reported an explosion 40 metres of the port side that sent a shockwave to the vessel. The crew are reported to be safe and the tanker undamaged. The 7,281 dwt, 2009-built Dominican Republic registered-Daisy,and in approximately the correct position in the Gulf of Aden based on its last AIS signal report, is owned and operated by Bihar International in Saudi Arabia according Pole Star Global’s Purpletrac. Related:Drone attacks slash Black Sea tanker loadings It was the second attack by the Houthi on a Saudi tanker in 24 hours having also claimed to have hit tankerNCC Wafaoff the coast of Yanbu on the Kingdom’s Red Sea coast. Announcing the attack on theNCC WafaYemini Armed Forces also said that they had prevented 29 Saudi tankers from proceeding through the Red Sea to the Arabian Sea since the blockade started on 20 July. Read more about: Marcus Hand Editor Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia. Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation. In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology. Marcus is the founder of theSeatrade Maritime Podcastthat delivers commentary, opinions and conversations on shipping's most important topics. Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars. Wind-Assisted Propulsion: Are we ready? at Seatrade Maritime Crew Connect Global 2024 IMPA 2024 SingaporeMaritime Procurement and Sustainability Panel, November 2024 Goodbye Globalization? Red Sea Impacts Reviewed,EGN Singapore (Executives' Global Network)webinar, February 2024 Offshore Marine Breakfast Forum atSea Asia 2023 Sustainable Finance, Shipping & Technology at Hong Kong Maritime Week 2022 Building & Operating Dual-Fuel Vessels, February 2022 Shipping’s Decarbonisation Challenge – The Role of Technology and Digitalisation at Hong Kong Maritime Week 2021 The Challenge Faced by Ship Registries in a Digital and Post-Pandemic Era, October 2020 The Future of Transhipment Hubs Post-Pandemic, November 2020 Offshore Marine Breakfast Forum at Sea Asia 2019 Marcus Hand regularly guests on mainstream media talking about maritime and shipping news stories. Below you'll find a list of selected appearances KBS World Radio -Korea24,May 2026 BBC News -Hindi Service,April 2026 RNZ -First Up, April 2026

All 14 crew on board the Indian-registered commercial vessel were rescued after it capsized following an attack August 5, 2026 TheIndian-registeredMSV Faize Noore Oliyawas struck by unknown projectile in the Red Sea causing it to capsize. All 14 crew, including 13 Indian nationals, were reported to have been rescued by the Yemini Coast Guard. “We condemn the attack on the Indian flagged commercial vessel,MSV Faize Noore Oliyathat sank in the Red Sea, off the coast of Yemen on August 4, 2026,” stated India’s Ministry of External Affairs. “The continuing incidents of attacks on commercial shipping in the region are deeply worrisome. The targeting of commercial shipping in the region must end, and free and unimpeded navigation and commerce through the international waterways in the region, in keeping with international law, must be restored at the earliest.” The Houthi in Yemen have launched a blockade of Saudi ports as part of their long running conflict with Saudi Arabia and are targeting ships in the Red Sea that have called at ports in the Kingdom. Related:Seafarer missing after bulker struck in the Strait of Hormuz Read more about: Marcus Hand Editor Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia. Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation. In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology. Marcus is the founder of theSeatrade Maritime Podcastthat delivers commentary, opinions and conversations on shipping's most important topics. Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars. Wind-Assisted Propulsion: Are we ready? at Seatrade Maritime Crew Connect Global 2024 IMPA 2024 SingaporeMaritime Procurement and Sustainability Panel, November 2024 Goodbye Globalization? Red Sea Impacts Reviewed,EGN Singapore (Executives' Global Network)webinar, February 2024 Offshore Marine Breakfast Forum atSea Asia 2023 Sustainable Finance, Shipping & Technology at Hong Kong Maritime Week 2022 Building & Operating Dual-Fuel Vessels, February 2022 Shipping’s Decarbonisation Challenge – The Role of Technology and Digitalisation at Hong Kong Maritime Week 2021 The Challenge Faced by Ship Registries in a Digital and Post-Pandemic Era, October 2020 The Future of Transhipment Hubs Post-Pandemic, November 2020 Offshore Marine Breakfast Forum at Sea Asia 2019 Marcus Hand regularly guests on mainstream media talking about maritime and shipping news stories. Below you'll find a list of selected appearances KBS World Radio -Korea24,May 2026 BBC News -Hindi Service,April 2026 RNZ -First Up, April 2026

Soaring prices for secondhand large tankers see Frontline and CMB.TECH booking hefty profits on sales August 5, 2026 John Fredriksen’s Frontline is selling two nine-year oldVLCCsfor $270 million as it cashes in on high prices for secondhand tanker tonnage. The sale of the two large crude tankers to an undisclosed party will generate cash proceeds of $179 million for Frontline and the New York and Oslo-listed shipowner expects to record a gain of around $110 million in the third quarter of the year. The sale is good news for shareholders who will receive a special dividend once the deal is completed. Lars Barstad, CEO of Frontline Management, commented: “In these extraordinary markets, and in line with Frontline’s core strategy of returning cash to our shareholders, the Board of Directors of the company has, subject to completion of the sale, determined to return the cash proceeds, a total of approximately $179 million, to its shareholders through a payment of a one-time special dividend of $0.80 per share.” Related:CMB.TECH books massive profit from VLCC sale Frontline joins fellow listed shipowner CMB.TECH in cashing in on sky high secondhand VLCC prices. Earlier this week the Savery’s family controlled company announced the sale of the 2016-built, 299,999 dwt, Donoussa for a gain of $74.4 million based on the net sale price and asset values. Read more about: Marcus Hand Editor Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia. Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation. In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology. Marcus is the founder of theSeatrade Maritime Podcastthat delivers commentary, opinions and conversations on shipping's most important topics. Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars. Wind-Assisted Propulsion: Are we ready? at Seatrade Maritime Crew Connect Global 2024 IMPA 2024 SingaporeMaritime Procurement and Sustainability Panel, November 2024 Goodbye Globalization? Red Sea Impacts Reviewed,EGN Singapore (Executives' Global Network)webinar, February 2024 Offshore Marine Breakfast Forum atSea Asia 2023 Sustainable Finance, Shipping & Technology at Hong Kong Maritime Week 2022 Building & Operating Dual-Fuel Vessels, February 2022 Shipping’s Decarbonisation Challenge – The Role of Technology and Digitalisation at Hong Kong Maritime Week 2021 The Challenge Faced by Ship Registries in a Digital and Post-Pandemic Era, October 2020 The Future of Transhipment Hubs Post-Pandemic, November 2020 Offshore Marine Breakfast Forum at Sea Asia 2019 Marcus Hand regularly guests on mainstream media talking about maritime and shipping news stories. Below you'll find a list of selected appearances KBS World Radio -Korea24,May 2026 BBC News -Hindi Service,April 2026 RNZ -First Up, April 2026

Artificial intelligence and semiconductor exports are reshaping Asia-Pacific freight markets, booming technology shipments offsetting weaker consumer demand as global supply chains enter the traditional peak season. According to Dimerco Express’s latest Asia-Pacific market report, the global manufacturing outlook remains positive, despite signs of slower growth. The Global Manufacturing PMI stood at 52.2 in June, marking an eleventh consecutive month of expansion, although growth eased from May’s 50-month high of 52.7. However, the divergence between technology and consumer demand is becoming increasingly pronounced across both air and ocean freight markets. Dimerco Express noted that Taiwan continued to see robust export demand for AI servers, semiconductors, and other hi-tech products, keeping air freight capacity tight on major US routes, with South Korea experiencing a similar trend, with AI and semiconductor cargo replacing e-commerce as the primary driver of capacity on Asia-US lanes. By contrast, consumer-focused ecommerce volumes have weakened significantly, particularly into Europe, following the EU’s removal of its de minimis exemption for low-value imports on 1 July. “What we’re seeing is a market split in two,” said Kathy Liu, VP of global sales and marketing at Dimerco Express Group. “AI demand out of Taiwan just keeps climbing, while the ecommerce base that carried Europe is gone with the de minimis change. The shift has prompted airlines to reduce freighter capacity into Europe, pushing air freight rates lower across the continent during what is traditionally the region’s seasonal lull. Meanwhile, on the ocean freight side, the report explained that the surge in front-loaded shipments ahead of US tariff deadlines had peaked, with transpacific freight rates already easing from July highs, despite continued seasonal retail replenishment keeping vessel space tight. However, lower freight rates are not translating into cheaper shipping overall ,according to the forwarder. “The front-loading wave has passed its peak; transpacific rates are coming off their highs and Europe looks set to follow. But the cost floor isn’t moving – fuel and canal surcharges won’t fall with demand, so expect cheaper space, not cheaper shipping,” said Ted Chen, Dimerco’s director of ocean freight, global sales and marketing. At the same time, the uncertainty surrounding US trade policy is expected to keep landed costs volatile, added Dimerco, warning that proposed Section 301 replacement duties covering more than 60 trading partners, including Vietnam, Thailand, and India, could reset sourcing costs. Across Asia-Pacific, the report highlighted contrasting market conditions. Peak season is tightening ocean capacity to Europe and North America from South-east Asia, while intra-Asia services remain relatively stable. Thailand and Malaysia continue to experience tight air freight capacity, Singapore is facing European backlogs, and Australia is seeing softer capacity and stabilising rates. In China, weakening ecommerce demand is weighing on transpacific air volumes, and ocean carriers are reducing rates as export demand softens. However, Dimerco underscored that weather-related delays were preventing sharper price declines. Looking ahead, Dimerco advised shippers to secure capacity early on high-demand lanes, particularly from Taiwan, South Korea, and South-east Asia, while considering China-Europe rail services as an alternative where appropriate. The company also recommended building additional buffer time into supply chains as weather disruption, geopolitical risks, and fuel price volatility continued to challenge global freight markets during the remainder of the peak season.

Ocean Network Express (ONE) reported a sharp fall in quarterly earnings, despite higher revenue, as rising fuel costs and continued disruption in the Middle East offset improving freight rates and stronger cargo demand. The Singapore-headquartered carrier group posted revenue of $4.54bn for the three months of its financial year, to 30 June, up $490m year on year – but net profit fell $55m, to $31m. EBIT came in at $76m, while EBITDA reached $329m. Liftings increased, to 3.28m teu, driven by growth on transpacific, Asia-Europe and Latin America trades, while the average freight rate improved, to $1,300 per teu. CEO Till Ole Barrelet said: “The first quarter reflected a demanding market, with Middle East disruption raising fuel and operating costs across the industry. As demand recovered through the quarter, we improved yields and maintained high utilisation. “We have raised our full-year forecast and remain focused on operational agility as conditions evolve. This reflects the dedication of our global team and the steady progress of our ONE2030 strategy. As market uncertainties persist, our priorities are protecting our people and assets, ensuring service reliability for our customers, and delivering sustainable long-term value for our stakeholders.” ONE said demand had strengthened significantly through the quarter, shifting from mixed conditions in April to sustained recovery in May and June.Cargo volumes from China increased as shippers front-loaded imports ahead of expected fuel surcharge increases, possible tariff changes, and inventory restocking, boosting transpacific demand. Asia-Europe volumes also continued to recover. The carrier said the global container fleet had expanded by more than 300,000 teu during the quarter, to more than 34m teu, but this had been partially absorbed by continued congestion and disruption linked to the Strait of Hormuz.It had maintained high vessel utilisation through “disciplined capacity management”, despite higher operating costs caused by rising fuel prices. ONE launched its new east-west service network in April, introduced service upgrades across multiple trades, and continued deploying newbuilds under its ONE2030 strategy “to improve network competitiveness” while reducing its environmental footprint. Reflecting stronger freight rates and demand, the Japanese carrier grouping upgraded its full-year profit forecast to $900m, triple its previous guidance of $300m. “Spot freight rates have remained on an upward trend since the first quarter. Backed by solid cargo demand, higher freight rate levels are expected to persist, particularly through the second quarter across various trades,” it said. “Despite adjusting our second-half outlook for higher fuel costs, the first-half profit has been substantially revised upward from the previousguidance.” The outlook assumes operating conditions in the Strait of Hormuz stabilise to pre-conflict levels by October, with Cape of Good Hope diversions continuing for the remainder of the fiscal year.

Transpacific rates have rebounded with the major box lines succeeding in implementing rate hikes. Friday’s Shanghai Containerised Freight Index showed both the Shanghai-US West Coast and Shanghai-US East Coast rates were up just over 12% from 24 July, to $6,229 and $9,054 per 40ft, respectively, bucking the trend seen on Asia-Europe routes where freight rates remain under downward pressure. Typhoons in China – Bavi and Noul in late July – caused persistent congestion in ports around the Yangtze and Pearl river deltas, which resulted in a shortage of containers and shipping slots. Linerlytica said: “Cargo demand remains strong out of Asia, and persistent port congestion in China has created space and equipment shortages that have kept freight rates at elevated levels, giving carriers sufficient confidence to upgrade their earnings forecasts for the third quarter.” It noted that the SCFI did not reflect the real-time situation, as Asia-USEC and Asia-USEC rates had gone up to $7,000 and $9,500 per 40ft, respectively. The consultancy added: “The rate rally comes as somewhat of a surprise, given the SCFI and SCFIS’s (container futures) recent correction, but transpacific cargo volumes remain firm into August, while capacity out of China remains constrained due to port congestion at both Central and South China ports.” Drewry suggested that following softening demand and the slowdown in front-loading activity, carriers were actively managing transpacific capacity through blanked sailings – this week, eight voyages will be blanked, following seven last week. For example, yesterday, ONE announced the scheduled call at Singapore on its Vietnam Shuttle Express service, which offers a shortened connection between Vietnam and the USWC on 11 August, would be blanked.

The latest news and commentary on how the US/Israel-Iran conflict is affecting the global maritime industry and shipping markets. The latest attack on a vessel in Hormuz follows two near misses on tankers the previous day August 4, 2026 A commercial cargo ship has reported been hit by an unknown projectile northeast ofOmanin the Strait of Hormuz. “A cargo vessel has broadcasted on VHF 16 that they have been hit by an unknown projectile,” UKMTO said in an alert. The incident took place 20 nm northeast of Al Khasab, Oman at 22:00 hrs UTC on 3 August and the UKMTO said that the authorities were investigating. The latest attack follows two near misses on tankers on 2 August when theVLCCEgypt Prosperityand AframaxOn Prideemerged unscathed from separate incidents involving explosions and reported warning shots. In both cases the vessels were attacked in Oman waters in the Strait of Hormuz. The series of incidents come asUSPresident Donald Trump said negotiations with Iran were underway and that it was Tehran’s “last chance” to end the conflict. Iran meanwhile has denied talks with the US are taking place and that it is instead negotiating with Oman over a temporary route for shipping through the Strait of Hormuz. Related:Crew abandon tanker in Strait of Hormuz, ship hit off UAE Meanwhile Iranian media are reporting that the country’s military forces have hit a US military base in Northern Kuwait with video of buildings in flames circulating on social media. Read more about: Marcus Hand Editor Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia. Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation. In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology. Marcus is the founder of theSeatrade Maritime Podcastthat delivers commentary, opinions and conversations on shipping's most important topics. Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars. Wind-Assisted Propulsion: Are we ready? at Seatrade Maritime Crew Connect Global 2024 IMPA 2024 SingaporeMaritime Procurement and Sustainability Panel, November 2024 Goodbye Globalization? Red Sea Impacts Reviewed,EGN Singapore (Executives' Global Network)webinar, February 2024 Offshore Marine Breakfast Forum atSea Asia 2023 Sustainable Finance, Shipping & Technology at Hong Kong Maritime Week 2022 Building & Operating Dual-Fuel Vessels, February 2022 Shipping’s Decarbonisation Challenge – The Role of Technology and Digitalisation at Hong Kong Maritime Week 2021 The Challenge Faced by Ship Registries in a Digital and Post-Pandemic Era, October 2020 The Future of Transhipment Hubs Post-Pandemic, November 2020 Offshore Marine Breakfast Forum at Sea Asia 2019 Marcus Hand regularly guests on mainstream media talking about maritime and shipping news stories. Below you'll find a list of selected appearances KBS World Radio -Korea24,May 2026 BBC News -Hindi Service,April 2026 RNZ -First Up, April 2026

The Houthi blockade of Saudi ports has increased security concerns for shipping in the southern Red Sea August 3, 2026 The Houthi in Yemen have refuted reports that they plan to charge a toll for transit of the Bab el-Mandeb Strait in the Red Sea. Reports last week indicated that the Houthi planned to levy on a toll of ships passing the waterway that links the Arabian and Red Sea in return for guaranteeing security, similar to that Iran is trying to implement in the Strait of Hormuz. The Houthi have launched what it describes as a blockade of Saudi Arabian ports targeting vessels that have called in the Kingdom in response to a recent attack on the airport in Sana’a. Since launching the blockade the Houthi have attacked Saudi tankers headed to the Bab el-Mandeb. The Houthi’s Humanitarian Operations Coordination Center (HOCC) stated: “The HOCC categorically denies the accuracy of these claims and confirms that it has neither taken nor considered any decision to impose fees for transiting the Bab al-Mandab Strait. The HOCC further emphasizes that transit throughthe Bab al-Mandab Strait is free of charge.” Related:OFAC targets Iran’s ‘extortion’ insurance scheme in Hormuz It said that any individual or entity requesting the payment of money in exchange for transiting the Bab al-Mandab Strait does not represent the Republic of Yemen or HOCC. With the introduction of the Saudi blockade the Houthi are offering what it calls a “Safe Transit Service” for vessels where it says they will confirm safe transit of Red Sea, Bab el-Mandab Strait, the Gulf of Aden, and the Arabian Sea with a response provided “within a few hours” to email requests. Read more about: Marcus Hand Editor Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia. Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation. In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology. Marcus is the founder of theSeatrade Maritime Podcastthat delivers commentary, opinions and conversations on shipping's most important topics. Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars. Wind-Assisted Propulsion: Are we ready? at Seatrade Maritime Crew Connect Global 2024 IMPA 2024 SingaporeMaritime Procurement and Sustainability Panel, November 2024 Goodbye Globalization? Red Sea Impacts Reviewed,EGN Singapore (Executives' Global Network)webinar, February 2024 Offshore Marine Breakfast Forum atSea Asia 2023 Sustainable Finance, Shipping & Technology at Hong Kong Maritime Week 2022 Building & Operating Dual-Fuel Vessels, February 2022 Shipping’s Decarbonisation Challenge – The Role of Technology and Digitalisation at Hong Kong Maritime Week 2021 The Challenge Faced by Ship Registries in a Digital and Post-Pandemic Era, October 2020 The Future of Transhipment Hubs Post-Pandemic, November 2020 Offshore Marine Breakfast Forum at Sea Asia 2019 Marcus Hand regularly guests on mainstream media talking about maritime and shipping news stories. Below you'll find a list of selected appearances KBS World Radio -Korea24,May 2026 BBC News -Hindi Service,April 2026 RNZ -First Up, April 2026

The latest news and commentary on how the US/Israel-Iran conflict is affecting the global maritime industry and shipping markets. Iran renews attacks on vessels transiting through the southern corridor close to the Oman coast August 1, 2026 A Gaslog LNG carrier has been disabled in the Strait of Hormuz after it was struck by an unknown projectile off Oman. The Bermuda-flagged LNG tankerGaslog Shanghaiwas struck 11 nm northeast of Oman on 31 July at 23:30 hrs UTC while transiting outbound from the Gulf in the Strait. According to maritime security firm Vanguard the vessel was struck in its portside engine room causing a fire which was extinguished by the fire. The fire and explosion resulted in a blackout the LNG carrier which has lost propulsion. According to UKMTO the regional coast guard had been informed and there were no injuries to the crew. TheGaslog Shanghaihad its AIS turned off at the time of the attack. According to AIS data from Pole Star Global the LNG carrier had crossed the Strait of Hormuz westbound on 9 July after the MoU between the US and Iran had already broken down. TheGaslog Shanghaicalled at ports in Qatar and Kuwait prior to its eastbound transit on 31 July. Related:Oil supply chains must be restored urgently to avert an energy price crisis Meanwhile another tanker reported a near miss with an unknown projectile 21 nm northeast of Khasab in Oman. “The Master of a tanker reports seeing a large splash and explosion in close proximity to the vessel. No damage to the vessel has been reported at this time,” UKMTO said in an alert. According to Vanguard the tanker involved was Liberian-flagged and westbound in the southern corridor of the Strait at the time of the incident at 22:06 hrs on 31 July. Iran does not recognise the southern corridor in the Strait of Hormuz in Omani where the US provides guided transits and has repeatedly threatened the security of vessels transiting via the route. TheGaslog Shanghaiis the second LNG carrier owned by Gaslog to be hit recent days. TheGaslog Salemwas hit by a drone last week while at berth in the port of Damietta on Egypt’s Mediterranean coast. It was struck at the same time as the FSRUEnergos Winteron an adjacent berth. Read more about: Marcus Hand Editor Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia. Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation. In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology. Marcus is the founder of theSeatrade Maritime Podcastthat delivers commentary, opinions and conversations on shipping's most important topics. Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars. Wind-Assisted Propulsion: Are we ready? at Seatrade Maritime Crew Connect Global 2024 IMPA 2024 SingaporeMaritime Procurement and Sustainability Panel, November 2024 Goodbye Globalization? Red Sea Impacts Reviewed,EGN Singapore (Executives' Global Network)webinar, February 2024 Offshore Marine Breakfast Forum atSea Asia 2023 Sustainable Finance, Shipping & Technology at Hong Kong Maritime Week 2022 Building & Operating Dual-Fuel Vessels, February 2022 Shipping’s Decarbonisation Challenge – The Role of Technology and Digitalisation at Hong Kong Maritime Week 2021 The Challenge Faced by Ship Registries in a Digital and Post-Pandemic Era, October 2020 The Future of Transhipment Hubs Post-Pandemic, November 2020 Offshore Marine Breakfast Forum at Sea Asia 2019 Marcus Hand regularly guests on mainstream media talking about maritime and shipping news stories. Below you'll find a list of selected appearances KBS World Radio -Korea24,May 2026 BBC News -Hindi Service,April 2026 RNZ -First Up, April 2026

The Pakistani port recently handled its first dedicated transhipment vessel but is only served by a handful of regular liner services July 30, 2026 By Mujtaba Arshad, Research Associate at the Centre of Excellence for CPEC, PIDE. For more than a decade, discussions about Gwadar Port have been dominated by geography. Analysts frequently point to its location outside the Strait of Hormuz, its proximity to major East-West shipping routes, and its position at the crossroads of South Asia, the Middle East, and Central Asia. The assumption has often been that geography alone will eventually transform Gwadar into a major regional transhipment hub. Recent regional disrutions in Gulf shipping routes have temporarily diverted cargo toward Pakistan's ports, prompting renewed claims that Gwadar's geographic advantage is finally beginning to materialise. For the first time in its history, Gwadar handled a dedicated transhipment vessel, while Karachi recorded a sharp surge in transhipment volumes. For many observers, these developments appeared to confirm Gwadar's long-promised potential. Related:ICTSI’s Baltic Container Terminal completes upgrades Yet there is an important lesson hidden beneath the headlines. The real challenge facing Gwadar is not geography; it is connectivity. Around the world, successful transhipment hubs are not created simply because they occupy strategic locations. They succeed because shipping lines choose to make them part of their regular networks. Global maritime trade is largely controlled by a small number of major carriers and shipping alliances that determine where cargo moves, where vessels call, and which ports become regional hubs. Without regular shipping-line commitments, even the most strategically located port remains underutilized. This reality explains why ports such as Singapore,Jebel Ali, Colombo, and Salalah have emerged as leading transhipment hubs. Strategic location certainly mattered, but location alone was never sufficient. These ports built integrated logistics ecosystems, ensured rapid vessel turnaround, invested in digital trade facilitation, offered competitive pricing, and most importantly, secured long-term partnerships with global shipping companies. Gwadar, by contrast, remains largely disconnected from these commercial networks. At present, Gwadar is served by only a handful of regular liner services, highlighting the need to diversify shipping- line participation. The port possesses significant unused capacity, yet regular vessel traffic remains extremely limited. Before the recent transhipment surge, Gwadar recorded only around 22 annual vessel calls, compared with more than 4,300 at Colombo and over 4,800 at Sohar, the contrast illustrate that Gwadar’s challenge is not a shortage of infrastructure but limited integration into global shipping networks. Most international shipping lines continue to rely on established regional hubs that offer predictable schedules, extensive feeder connections, and efficient cargo-handling systems. As long as these advantages remain concentrated elsewhere, shipping companies will have little incentive to shift their operations to Gwadar on a permanent basis. Related:India’s transhipment hub port plans on track If Pakistan wants Gwadar to become a permanent transhipment hub rather than a temporary beneficiary of regional crisis, four priorities stand out. First, Pakistan must prioritize attracting anchor shipping lines. Dedicated negotiations should be undertaken with major global carriers such asMSC, Maersk,CMA CGM,Hapag-Lloyd, and Cosco. The objective should not simply be occasional vessel calls but long-term service commitments supported by guaranteed berth windows, operational reliability, and cargo-volume agreements. Second, Gwadar must become one of the most efficient ports in the region. Shipping lines make decisions based on time and cost. Every additional day spent waiting for customs clearance, documentation, cargo handling, or berth allocation increases costs and reduces competitiveness. The introduction of a fully integrated Port Community System connecting customs authorities, port operators, shipping agents, and freight forwarders could significantly reduce delays and improve predictability. Related:Yantian Port to bring two mega container berths into operation Third, Pakistan should adopt a targeted transhipment incentive programme. Temporary reductions in port charges, cargo-handling fees, and vessel dues can help attract initial traffic and encourage shipping lines to test Gwadar as a regional hub. Such incentives should be linked to measurable cargo-volume commitments rather than provided as unconditional subsidies. Fourth, Gwadar should initially position itself as a feeder and relay hub rather than attempting to compete immediately with established giants such as Jebel Ali or Colombo. A phased strategy that connects Gwadar with Karachi, Port Qasim, Oman, the UAE, East Africa, and Gulf markets is more realistic than expecting large-scale cargo diversion overnight. Perhaps the most important lesson from international experience is that transhipment traffic follows networks, not aspirations. Shipping lines concentrate their operations in ports where they can maximize efficiency, minimize costs, and connect seamlessly with broader logistics systems. Geography may create an opportunity, but connectivity determines whether that opportunity becomes a sustainable business model. Pakistan currently has a rare window of opportunity. Regional shipping disruptions have temporarily demonstrated Gwadar's strategic value and introduced the port to transhipment networks that previously bypassed it. However, history offers a warning. During the 2021 Suez Canal disruption, Pakistan experienced a similar surge in diverted cargo, only to lose it once normal conditions returned. The same outcome will occur again unless structural reforms are implemented. The future success of Gwadar should therefore not be measured by temporary spikes in cargo volumes during regional crises. It should be measured by more durable indicators: the number of shipping lines operating scheduled services, the frequency of vessel calls, the efficiency of cargo clearance, and the extent to which Gwadar becomes integrated into regional maritime networks. For years, policymakers have focused on Gwadar's location. The next phase of strategy must focus on its connectivity. After all, ports do not become transshipment hubs because they are well located. They become transshipment hubs because shipping lines return week after week, year after year. That, not geography —is the real test of Gwadar’s future. 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The fires on the Gaslog and Energos in the Egyptian Mediterranean would represent widening of the Middle East conflict if the attacks confirmed July 30, 2026 In a potential geographic widening of attacks on shipping a US-ownedFSRUand anLNGhave been struck by drones on theEgyptianMediterranean port of Damietta. The Marshall Islands-flagged floating storage and regasification (FSRU) unit Energos Winter deployed in Damietta, Egypt was struck at around 14:20 hrs UTC on 29 July according to maritime security firm Vanguard. At the same time the Bermuda-flagged LNG carrier Gaslog Salem also alongside in Damietta was struck by a projectile on its starboard side. The CSO for the Energos Winter reported that there was a fire onboard the vessel following the strike and the vessel was moved away from the terminal and all crew were accounted for and reported to be safe. Non-essential personnel were evacuated and local fire services assisted with extinguishing the fire The Gaslog Salem was reportedly struck near the no.2 forward cargo tanks. The crew extinguished a small fire and a minor leak was reported. All 25 crew of the vessel as reported to be safe and accounted for. Related:Houthi target Saudi chemical tanker Video posted on social media showed smoke billowing from the two vessels at adjacent berths in the port. AIS tracking data from Pole Star Global shows the Gaslog Salem and Energos Winter as moving offshore from the port. Egypt’s Ministry of Petroleum and Mineral Resources confirmed a response to a fire on the FSRU but did not say the Energos Winter or Gaslog Salem had been attacked. No group has claimed responsibility for the attack which would represent a geographic widening of the threat to shipping and energy assets in relation to the conflict in the Middle East into the Mediterranean. US President Donald Trump was asked in a White House press briefing about the attack on the LNG carrier in Egypt was Iran related. Trump said he’d been briefed on the incident and described it as “a little more of the same”. The threat to shipping has expanded to the Red Sea over the last two weeks with the Houthi in Yemen’s attempt to blockade Saudi ports and strikes on ships and oil storage facilities. Read more about: Marcus Hand Editor Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia. Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation. In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology. Marcus is the founder of theSeatrade Maritime Podcastthat delivers commentary, opinions and conversations on shipping's most important topics. Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars. Wind-Assisted Propulsion: Are we ready? at Seatrade Maritime Crew Connect Global 2024 IMPA 2024 SingaporeMaritime Procurement and Sustainability Panel, November 2024 Goodbye Globalization? Red Sea Impacts Reviewed,EGN Singapore (Executives' Global Network)webinar, February 2024 Offshore Marine Breakfast Forum atSea Asia 2023 Sustainable Finance, Shipping & Technology at Hong Kong Maritime Week 2022 Building & Operating Dual-Fuel Vessels, February 2022 Shipping’s Decarbonisation Challenge – The Role of Technology and Digitalisation at Hong Kong Maritime Week 2021 The Challenge Faced by Ship Registries in a Digital and Post-Pandemic Era, October 2020 The Future of Transhipment Hubs Post-Pandemic, November 2020 Offshore Marine Breakfast Forum at Sea Asia 2019 Marcus Hand regularly guests on mainstream media talking about maritime and shipping news stories. Below you'll find a list of selected appearances KBS World Radio -Korea24,May 2026 BBC News -Hindi Service,April 2026 RNZ -First Up, April 2026

Tanker master reports hearing an explosion while transiting Red Sea July 29, 2026 The Houthi in Yemen continue to try and enforce their blockade ofSaudi Arabianports targeting achemical tankerin the Red Sea. The Yemini armed forces said they targeted the Saudi-flagged chemical tankerNCC Ghazalwith ballistic missiles for violating its maritime blockade. The attempted attack does not appear to have hit the tanker with the Houthi saying it was “forced to retreat and return”. TheNCC Ghazalis running dark on AIS and it’s last reported position was near Yanbu on 23 July. The UKMTO said the Master of a tanker in the Red Sea reported hearing an explosion while transiting the Red Sea. Based on a chart published by the UK organisation the incident took place offshore from Jizan. The tanker’s crew were reported to be safe and there was no environmental damage. “Vessels are advised to transit with caution and report any suspicious activity to UKMTO,” it stated. Last week the Houthi hit the Saudi-flagged product tankerEnceliain the Red Sea after it announced the blockade of Saudi ports as part of a long running conflict in the region. Related:Houthi threat brings Bab El-Mandeb crossings down another 50% The Houthi also claimed to have struck theBahriVLCCLayla, however, there had been no independent verification of these reports. TheLaylawhich had been operating dark reactivated its AIS on 28 July in the northern Red Sea. Meanwhile breaking a few days relative peace in the Arabian Gulf and the Strait of Hormuz Iran launched a surprise attack with ballistic missiles onUSforces in the Middle East. US Central Command said all Iranian missiles were successfully intercepted. Read more about: Marcus Hand Editor Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia. Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation. In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology. Marcus is the founder of theSeatrade Maritime Podcastthat delivers commentary, opinions and conversations on shipping's most important topics. Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars. Wind-Assisted Propulsion: Are we ready? at Seatrade Maritime Crew Connect Global 2024 IMPA 2024 SingaporeMaritime Procurement and Sustainability Panel, November 2024 Goodbye Globalization? Red Sea Impacts Reviewed,EGN Singapore (Executives' Global Network)webinar, February 2024 Offshore Marine Breakfast Forum atSea Asia 2023 Sustainable Finance, Shipping & Technology at Hong Kong Maritime Week 2022 Building & Operating Dual-Fuel Vessels, February 2022 Shipping’s Decarbonisation Challenge – The Role of Technology and Digitalisation at Hong Kong Maritime Week 2021 The Challenge Faced by Ship Registries in a Digital and Post-Pandemic Era, October 2020 The Future of Transhipment Hubs Post-Pandemic, November 2020 Offshore Marine Breakfast Forum at Sea Asia 2019 Marcus Hand regularly guests on mainstream media talking about maritime and shipping news stories. Below you'll find a list of selected appearances KBS World Radio -Korea24,May 2026 BBC News -Hindi Service,April 2026 RNZ -First Up, April 2026

Air cargo carriers are facing an increasingly challenging market, with spot rates beginning to cool, but amid surging fuel prices, geopolitical disruption, and selective capacity deployment. The latest Baltic Air Freight Index fell 3.1% in the week to 20 July, led by weaker outbound pricing from Asia and Europe. Hong Kong outbound recorded the steepest decline, down 6.3% week on week, while Frankfurt fell 5.2%, Shanghai slipped 1.1%, and Singapore eased 0.6%. Nevertheless, the index is still 17% higher than a year ago overall, with Shanghai up 23.9%, Chicago +29.7% and Singapore +29.8%, suggesting the market is cooling from the exceptionally strong first half, rather than entering a widespread downturn. TAC Index lane data to mid-July shows softer pricing across many of the key Asia-Europe and Asia-US tradelanes. China-Europe rates fell 5.8% week on week, China-US slipped 3.9%, Hong Kong-Europe declined 4.8%, and Hong Kong-US eased 3.6%. Vietnam recorded some of the sharpest falls, with rates to Europe down 8.8% and to the US down 13.3%. But not every market is moving in the same direction. India continues to outperform, with Europe-bound rates broadly unchanged while India-US rose 6.5%. Europe-US also bucked the wider trend, rising 7.1% week on week, while Europe-UAE edged higher and remains almost double its level of a year ago, as geopolitics distorts parts of the market. Capacity data paints an equally mixed picture. According to Rotate, global freighter capacity increased just 1% week on week to 23 July, suggesting airlines are becoming increasingly selective about where to deploy it. Some of the sharpest reductions were on Middle East-linked routes, including Hong Kong-Dubai, Dubai-Liège, Hong Kong-Bahrain, and Bahrain-Liège, reflecting continuing regional instability. Forwarder Forto said: “Despite increased global capacity, available cargo space continued to vary considerably by route. Airport bottlenecks and airspace restrictions, resulting from tensions in the Middle East, limited capacity on some routes, forcing airlines to reroute services and reallocate aircraft.” Christopher Braun, Forto’s director freight, added:“The modest increase in global capacity should not obscure the fact that cargo space remains very unevenly distributed. “For shippers, the global average is less important than whether sufficient capacity with the required service level is available on the specific tradelane they need, at the right time. Early bookings and flexible routing remain the best protection against capacity shortages and sudden price spikes.” Airlines are shifting capacity: Etihad Cargo this week announced a second weekly freighter service to Paris Charles de Gaulle, citing continued demand for pharmaceuticals, perishables, and specialist cargo, while Cathay Pacific postponed the planned resumption of its Riyadh freighter service, as the Iran crisis deepens. Chinese airlines were among the week’s biggest capacity gainers, with China Airlines, EVA Air, China Cargo Airlines, and SF Airlines all increasing freighter activity, while Europe and North America also recorded modest gains. At the same time, airlines are facing renewed cost pressures. Cathay Pacific announced higher cargo fuel surcharges from 1 August after jet fuel prices surged. The latestIATA jet fuel monitor, covering the week ending 17 July, showed the global average jet fuel price jumped 17.6% week on week, to $149.40 per barrel. Despite short-term headwinds, the annual Farnborough International Airshow demonstrated continued confidence in the longer-term outlook. MSC Air Cargo placed an order for five 777-8 freighters, while Alaska Airlines confirmed plans to effectively double its dedicated freighter fleet capacity next year with four additional 737-800 converted freighters. Elsewhere, DSV expanded its dedicated air network with a new scheduled Rockford-Incheon freighter service, with Chennai due to follow later this year. In Latin America, Azul announced four more A321 passenger-to-freighter conversions to expand its regional services, while UAE-based SolitAir secured UK regulatory approval as it prepares to grow internationally. The week’s developments suggest an industry balancing competing forces. Spot rates are easing from elevated levels on some tradelanes, fuel costs are rising again, and airlines are redeploying capacity as geopolitical tensions continue to influence network planning. But carriers are still ordering freighters, opening routes, and investing in long-term growth, suggesting that demand for air cargo will remain strong, despite the increasingly volatile operating environment.