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Podcast a cura di Francesca Barbieri, Massimo De Laurentiis, Enrico Marro, Silvia Martelli e Angelica Migliorisi con il coordinamento editoriale di Daniele Bellasio Ascolta su Episodio74721 maggio 2026 di Silvia Martelli Nel pieno delle tensioni commerciali innescate dai dazi di Donald Trump, il dibattito economico sembra essersi spostato dal timore di una crisi globale alla constatazione che, almeno finora, l’impatto è stato meno devastante del previsto. In questa puntata dal Festival dell’Economia di Trento capiamo se si tratta davvero di “tanto rumore per nulla” o se i rischi si sono semplicemente trasformati, intrecciandosi con nuove fragilità geopolitiche. Episodio74620 maggio 2026 In questa puntata speciale di Macro raccontiamo l’apertura del Festival dell’Economia di Trento, organizzato da Il Sole 24 Ore. Il tema di quest’anno — “Dal mercato ai nuovi poteri. Le speranze dei giovani” — offre una chiave di lettura delle grandi trasformazioni globali: dalle tensioni geopolitiche al peso crescente delle Big Tech, fino al ruolo strategico delle nuove generazioni in un mondo sempre più instabile. Ne parliamo con Daniele Bellasio, vicedirettore de Il Sole 24 Ore, per capire come stanno cambiando economia, equilibri internazionali e futuro dell’Occidente. Episodio74519 maggio 2026 In un momento in cui gli equilibri globali stanno cambiando rapidamente, l’Europa guarda sempre di più all’India come a un partner strategico. Il tour europeo di Narendra Modi arriva mentre Bruxelles cerca nuove alleanze economiche e politiche, strette tra la competizione con la Cina, le tensioni commerciali e le guerre in Ucraina e Medio Oriente. Ne parliamo con Marco Masciaga, corrispondente del Sole 24 Ore da New Delhi. Episodio74418 maggio 2026 Nel Regno Unito, il governo laburista guidato da Starmer sta attraversando la fase più difficile dal suo arrivo al potere. Una crisi che arriva sorprendentemente presto e che sta mettendo in discussione non soltanto la leadership del premier, ma anche l’identità stessa del Labour nel UK post-Brexit. Ne parliamo con Nicol degli Innocenti. Episodio74315 maggio 2026 L’Europa parla di difesa comune da oltre 25 anni, ma oggi il contesto è cambiato: guerra russa contro l’Ucraina, incertezza sul ruolo degli Stati Uniti, pressione sul fianco Est, riarmo tedesco e posizione italiana. E la questione torna ora sotto i riflettori con le minacce del presidente Usa Donald Trump di ritirare le truppe americane dispiegate nel Vecchio Continente. Ne parliamocon Alessandro Marrone, responsabile del programma “Difesa, sicurezza e spazio” dell’Istituto affari internazionali,Andrea CarlieGianluca Di Donfrancescodel Sole 24 Ore,Sergio NavaeAntonio Taliadi Radio 24. Episodio74214 maggio 2026 Questo episodio speciale di Macro è stato registrato dal vivo a Stazione Radio a Milano, per la rassegna “Alta Velocità” di 24Ore Podcast. Nella confusione del conflitto tra Stati Uniti e Israele con l’Iran, oggi cerchiamo di rallentare e analizzare le due prospettive di questa guerra. Qual è la strategia di Washington in questo momento? Come si è adattato il regime di Teheran? Ne parliamo con Luca Veronese, giornalista del Sole 24 Ore e per anni inviato negli Stati Uniti, e Leila Belhadj Mohamed, giornalista esperta di geopolitica dell’Africa e dell’Asia Occidentale. Episodio74113 maggio 2026 C’è un rischio nascosto, un tema poco dibattuto e un pericolo nuovo nel rapporto tra intelligenze artificiali e società liberal-democratiche. E’ una questione che ha anche risvolti economici, legati alla tassazione delle persone che lavorano e alla non tassazione degli agenti dell’AI. Ne parliamo con Damiano Palano, professore ordinario di Filosofia politica, direttore del Dipartimento di Scienze politiche dell’Università Cattolica de Sacro Cuore e dell’Alta Scuola di Economia e Relazioni Internazionali (ASERI). Ha fondato Polidemos, Centro per lo studio della democrazia e dei mutamenti politici. Episodio74012 maggio 2026 Ma non sarà che alla fine le medie potenze e le loro alleanze finiscono nel menù? L’incontro a Pechino è il momento Nixon di Trump? Come si costruisce una “pace preventiva?”. Ne parliamo con Francesco Mancini, autore de “La pace preventiva” (Il Sole 24 ore) che sarà in edicola da sabato 16 maggio e sarà presentato mercoledì 13 maggio alle 19 e 30 all’Hotel Admiral, in via Domodossola 16 a Milano e al Salone del libro di Torino venerdì 15 maggio alle 11 e 30 nella Sala Indaco e alle 13 allo stand del Sole 24 Ore. Francesco Mancini insegna governance globale e prevenzione dei conflitti all’Università nazionale di Singapore. Episodio73911 maggio 2026 Ma poi la (nostra) storia è finita davvero? Ne parliamo con Gabriele Segre, direttore della Fondazione Vittorio Dan Segre ed esperto di temi di identità e convicenza, che ha appena dato alle stampe il libro “La fine della fine della Storia” (Bollati Boringhieri). Il libro di Segre rievoca fin nel titolo il saggio di Francis Fukuyama ed è una sorta di manuale di psico-geopolitica per la comprensione di un mondo incomprensibile. La prima cosa da fare è l’elaborazione di un lutto importante. Mentre “la politica deve darsi il tempo e concedersi il silenzio, perché la politica ha innanzitutto il compito di accompagnare il cambiamento”. Episodio7388 maggio 2026 Dopo un primo rinvio a causa della guerra con l’Iran, la settimana prossima il presidente americano volerà a Pechino per incontrare il leader cinese Xi Jinping. Crisi in Medio Oriente ancora in bilico, guerra commerciale congelata, tecnologia, materie prime e questione Taiwan: in che condizioni le due potenze arrivano a questo incontro? Quali sono i punti più delicati e quale sarà il risultato del vertice? Ne parliamo con Riccardo Barlaam, per anni corrispondente dagli Stati Uniti per Il Sole 24 Ore, e Filippo Fasulo, Head dell’Osservatorio Asia e dell’Osservatorio Geoeconomia dell’ISPI. Episodio7377 maggio 2026 Il Mali torna al centro della crisi nel Sahel dopo gli attacchi del 25 aprile, quando bande armate jihadiste e separatisti hanno colpito la capitale Bamako e diverse aree tra nord e centro del Paese. Un attacco che è stato definito “senza precedenti” per dimensioni e capacità di coordinamento. Ne parliamo con il corrispondente dall’Africa Alberto Magnani Tutti gli episodi L’industria dell’auto è molto più resiliente di quanto si pensi Gli interventi sulle accise, il potere del petrolio e gli stereotipi sui giovani I dazi di Trump: tanto rumore per nulla? Bolle speculative, rimorsi e rimpianti I 205mila bambini e l’ombra dell’ICE sulle famiglie americane La sconfitta di Musk contro OpenAI 05. Mondo Freud. La scoperta dell’inconscio | Trailer 05 Gli Umanoidi alla conquista del Mondo | Prepararsi al futuro 06. Saremo libere E’ finito il cripto winter? Litio, social detox e competenze digitali 07. Un sogno così | Volare: storia epica di una piccola, grande rivoluzione 05.⁠ ⁠Domani è la rivoluzione Il declino e l’eredità dei Macchiaioli Trailer Poggipolini: quando la vite diventa “intelligente” Leader by determination, costanza e resilienza Sabrina Casalta, come sono diventata Responsabile Commercial Operations Business di Vodafone Italia Un matrimonio da favola di Andrea Franceschi a cura della Redazione web a cura di Francesca Barbieri, Massimo De Laurentiis, Enrico Marro, Silvia Martelli e Angelica Migliorisi con il coordinamento editoriale di Daniele Bellasio di Marco lo Conte di Luca Salvioli di Biagio Simonetta di Daniele Bellasio e Simone Spetia con Sergio Rovasio di Luca Benecchi Vai all’archivio

An indictment covers seven senior executives from four manufacturers including Singamas and CIMC May 21, 2026 Back in the late days of the Pandemic, during 2021 and into 2022 prices of international container shipping had reached unprecedented levels, and now, the manufacturing, and the pricing of non-refrigerated containers during that period is in the spotlight. This week, theUSDepartment of Justice (DOJ) released the contents of a previously sealed indictment, dating from January, 2026, charging four Chinese container manufacturers and seven executives, with violations of the Sherman Antitrust Act. The Sherman Act, dating from the “Gilded Age” of the 1890’s- a time of massive monopolies in US industries with the likes of John D. Rockefeller and Andrew Carnegie in oil and steel, respectively, is the basis for regulating anti-competitive behaviour. The indictment was released following the arrest of one executive- Vick Nam Hing Ma, also known as “Vick Ma”, the Marketing Director of container manufacturer Singamas Container Holdings. The other companies named areChina International Marine Containers(Group) Co., Ltd. (CIMC), Shanghai Universal Logistics Equipment Co (which marketed containers under the brand name Dong Fang International Containers), Ltd and CXIC Group Containers Co. Ltd. Related:Hapag-Lloyd acquisition target Zim in the red for Q1 Among the executives charged in the indictment is Teo Siong Seng (SS Teo) Chief Executive Officer and Chairman of Singamas, who is also the Chairman ofSingapore-basedPacific International Lines (PIL). Teo is a well-known figure in Singapore shipping and business circles having previously served as President of the Singapore Shipping Association and is the current Chairman of the Singapore Business Federation (SBF). Other agencies working alongside the DOJ in its investigative work include the Federal Bureau of Investigation (FBI) and the US Postal Service Office of Inspector General. The announcement from the DOJ refers explicitly to alleged anti-competitive behavior in the earlier years of the 2020’s. It says, in part: “Global price-fixing cartels strike at the heart of our economic liberty. The defendants held hostage the world’s supply of ocean shipping containers during the Covid pandemic when our supply chains needed it the most. They stole from everyday Americans who paid more and waited longer for vital goods as a result,” Very specifically, the indictment alleges - Conspiracy in Restraint of Trade: Output Restriction and Price Fixing (violations of 15U.S.C.§1- in the US Code). The language from the actual unsealed indictment looks closely at the actual equipment marketplace, alleging, in part: “From at least November 2019 through at least January 2024, the defendants and their co-conspirators agreed to restrict the output and fix the prices of standard dry containers. As a result of the conspiracy, the prices of standard dry shipping containers roughly doubled between 2019 and 2021. And while the global supply chain was in crisis, the dry container manufacturers reported then- increased profitability.” Related:Sinolines orders 12 container ships Included are assertions that: “From 2019 to 2021, the price of a standard dry 20-foot container more than doubled from roughly $1,600 to over $3,500. During this same period, the price of a standard dry 40-foot container more than doubled from roughly $2,800 to over $5,900; and the price of a standard dry 40-foot high cube container doubled from roughly $3,000 to over $6,000. From 2019 to 2022, the price of a standard dry 45-foot high cube container increased from roughly $4,100 to over $5,730.” The indictment goes into very specific details regarding meetings, and interactions through a “We Chat” group, among the alleged co-conspirators, and discusses their various actions. As laid out, these include: “limiting the number of shifts and hours that each production line for standard dry containers could run per day; Installing video surveillance on all dry container production lines to ensure that the companies did not exceed the agreed-upon limitations; Not building any new container manufacturing factories; and establishing a fund that included a mechanism to penalize financially any cheating on the output-restriction agreement.” Related:Cosco Shipping Lines upgrades Transpacific services The cases will be prosecuted in US Federal District Court in San Francisco, California. According to the DOJ, “A violation of the Sherman Act carries a maximum penalty of 10 years in prison and a $1 million criminal fine for individuals, and a maximum penalty of a $100 million fine for corporations. The fines may be increased to twice the gain derived from the crime or twice the loss suffered by the victims of the crime if either amount is greater than the statutory maximum fine.” Besides the charges against the business entities and executives, the Sherman Act authorises private parties with claims of financial injury from conduct violating the Sherman Act to initiate legal actions against violators for “treble damages” (i.e. three times as much money in damages as the violation cost them). If the courts agree that the actions of the manufacturers and executives were indeed violations and attempts at monopolizing the marketplace, we could likely expect a plethora of lawsuits to be brought by cargo interests, with claims of economic harms during the container market upsurge during the Pandemic years. DOJ Press release https://www.justice.gov/opa/pr/four-worlds-largest-container-manufacturing-companies-and-seven-their-executives-indicted The indictment: https://www.justice.gov/atr/media/1441281/dl?inline Read more about: Barry Parker New York Correspondent Barry Parker is a New York-based maritime specialist and writer, associated with Seatrade since 1980. His early work was in drybulk chartering, and in the early 1990s he moved into shipping finance where he served as a deal-maker and analyst with a leading maritime merchant bank. Since the late 1990s he has worked for a group of select clients on various maritime projects, also remaining active as a writer. Barry Parker is the author of an Eco-tanker study for CLSA and a presentation to the Baltic Exchange Freight Market User Group on the arbitrage of tanker FFAs with listed tanker equities.

The latest news and commentary on how the US/Israel-Iran conflict is affecting the global maritime industry and shipping markets. Laden Cosco Shipping and Sinochem tankers trapped in the Gulf since the start of the Middle East conflict have exited via the Hormuz Strait May 20, 2026 Two ladenChinese-ownedVLCCsappeared to cross the Strait of Hormuz exiting the Arabian Gulf on 19 May. TheHong Kong-flagged, 299,170 dwtOcean Lilyoperated by Sinochem, and the Chinese-flagged, 319,702 dwtYuan Gui Yangowned byCosco ShippingEnergy Transportation were shown having transited the Strait of Hormuz out of the Arabian Gulf on 19 May based on AIS data from Pole Star Global and other tracking services. TheOcean LilyandYuan Gui Yangfollowed the route close to Larak Island prescribed by the Iranian authorities, which runs north of the internationally designated traffic separation scheme (TSS), and stopped transmitting AIS signals as they headed into the Gulf of Oman. TheOcean Lilyis broadcasting a destination of Quanzhou in China, although also broadcast as "Chinese owned ship” during the Strait of Hormuz transit. TheYuan Gui Yangbroadcast its destination as Shui Dong port in South China. The two Chinese tankers will have to cross theUSblockade at the edge of the Gulf of Oman and the Arabian Sea, however neither vessel appears to at Iranian ports which would make them subject to the blockade. Related:ADNOC fast-tracks Fujairah pipeline expansion According to data from Pole Star Global’s PurpleTrac database both vessels entered the Gulf shortly before the conflict between US – Israel and Iran started on 28 February. TheOcean Lilyappeared to load a cargo ofcrudein Basrah, Iraq on 27 February, while theYuan Gui Yangalso appeared to load in Basrah, Iraq on 3 March. 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

The highlight among containership newbuilding orders this week is six 15,900 teu vessels ONE is understood to have commissioned at South Korea’s HD Hyundai Heavy Industries. The yard announced the order but did not disclose the customer’s identity, however, MB Shipbrokers named Japanese liner grouping Ocean Network Express. The Danish brokerage added: “The project further expands ONE’s growing portfolio of alternative-fuel tonnage across multiple yards.” The LNG dual-fuelled newbuildings will cost $203m each and be delivered by the end of 2029. It appears that Singapore-headquartered ONE, whose 2025 net profitplummeted 92%year on year, to $338m, has cautiously pared its newbuild plans from 22 ships to six. The original plan comprised six 13,000 teu vessels, with options for six more, and six at 15,000 teu, plus options for four more. ONE said it “does not comment on market speculation or third-party disclosures”. The carrier has a sombre outlook for container shipping this year and expects net profit to fall again, to $300m. Elsewhere, newbuilding orders continue to be concentrated on the feeder sector, highlighting the growth of regional trades and its aging fleet. John Su’s Athens-based Erasmus Shipinvest has commissioned four 2,400 teu ships at Taizhou Sanfu Ship Engineering, his third boxship order of the year. At $45m each, they will be delivered between 2028 and 2029, with options for two more. Last month, Erasmus ordered a 1,800 teu pair from CSSC Huangpu Wenchong Shipbuilding, with options for two more. Ningbo Ocean Shipping has ordered four 1,900 teu ships at Wuchang Shipyard, each estimated to cost around $32m, to be delivered in 2028. In January, the company exercised options for a 4,300 teu pair at Wenchong, at $57.5m each, after an initial order for four ships last August. The orderbook-to-fleet ratio is now estimated to be at least 39% of the active fleet, prompting overcapacity concerns once deliveries start in 2028, and orders are not about to slow down. MB Shipbrokers said: “Several projects across different size segments remain under negotiation, and we expect to report further new orders in the coming weeks.”

The latest news and commentary on how the US/Israel-Iran conflict is affecting the global maritime industry and shipping markets. In this latest episode of the Seatrade Maritime News Podcast we explore the complex landscape of marine travel amidst rising airfares, cancelled flights, and crew stranded in conflict zones. May 12, 2026 Join Marcus Hand, Editor of Seatrade Maritime News, as he speaks with Vivian Miranda, Vice President, Energy Resources & Marine at BCD Travel, about the challenges faced by seafarers with the war in Iran. The discussion examines how to ensure safe and efficient crew travel both in the Gulf region and globally given the impact the conflict has had on the travel industry. The conversation also covers higher costs due to increased fuel prices and reduced flights and how best to manage these when it comes to crew travel. Marcus and Vivien also touch on the role of technology combined with the personal service and advice, and what lies ahead in uncertain geopolitical times. Hear more about: The current challenges in crew travel The impact of the Middle East crisis Travel logistics and cost implications Comparing current disruptions to Covid-19 Future planning in marine travel The blend of technology and human interaction Advice for those in crew travel roles Related:Protecting seafarers lives IMO’s top priority in Middle East conflict Listen to the full episode now in the player above Oct 20, 2026 TO Oct 22, 2026 Manila The world's leading marine crewing conference 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

The extent of the damage onboard the French container ship attacked in the Strait of Hormuz on 5 May shot by a Ukrainian seafarer May 11, 2026 Video taken by a Ukrainian seafarer on board theCMA CGM San Antonioafter it was attacked in the Strait of Hormuz on 5 May has surfaced. The Maltese-flaggedCMA CGM San Antoniowas hit by missiles or drones while transiting the Strait on 5 May resulting in eight Filipino crew being injured. Following the attack French shipping companyCMA CGMwhich owns the container ship the injured seafarers had been “evacuated and are provided with the necessary medical care”. The video taken by a Ukrainian crew member and posted on a Ukrainian seafarer website was featured by shipping YouTuber Sal Mercogliano in his latest episode ofWhat’s Going on With Shipping. In the video onboard theCMA CGM San Antoniowalks through showing the damaged areas of the vessel including where the injured Filipino seafarers were sat at the attack and where the seafarer says, “drones flew in and beat the hell out of us”. Related:Ship attacked off Qatar causing fire There are two versions of the video – the one below features commentary from Mercogliano and AI generated English subtitles from Ukrainian of the seafarer filming the video. The second version above this story is the original video. 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

The latest news and commentary on how the US/Israel-Iran conflict is affecting the global maritime industry and shipping markets. First Qatar LNG carrier crosses Strait of Hormuz since war in Iran started as attacks on shipping continue May 10, 2026 The UKMTO said the Master of a bulk carrier reported their vessel was struck by a unknown projectile at 03:01 hrs UTC on 10 May while 23 nm northeast ofQatar.The attack result in a small fire which was successfully extinguished, and no casualties were reported. Maritime security firm Vanguard Tech said the vessel involved was likely the Marshall Islands-flaggedSafesea Nehawhich shows on AIS as being at anchor OPL northeast of Qatar. It would be the second vessel owned by the New Jersey-headquartered shipping company to be hit during the US – Iran war. The tankerSafesea Vishnuwas struck during an STS transfer operation in Iraqi water on 12 March. On 8 May US Central Command (Centcom) said US naval forces disabled two empty Iranian tankers -VLCCSea Star IIIand SuezmaxSevda– trying break the US blockade of Iranian ports in the Gulf of Oman. “A US Navy F/A-18 Super Hornet from USS George H.W. Bush (CVN 77) disabled both tankers after firing precision munitions into their smokestacks, preventing the non-compliant ships from entering Iran,” Centcom said. Related:Iran seizes tanker in Gulf of Oman As of 8 May US forces had disabled multiple vessels since the blockade of Iran ports started on 13 April and according to Centcom turned around more than 50 ships. Despite ongoing attacks on commercial shipping the uneasy ceasefire betweenUSand Iran largely continues to hold. The stand-off leaves the Strait of Hormuz effectively closed, however, a small number of vessels are making it through the key waterway. The QatarLNGcarrierAl Kharaitiyatcrossed the Strait on 9 May appearing to take new route through the waterway mandated by Iran running close to Larak Island north of the normal traffic separation scheme based on AIS data from Pole Star Global. The LNG tanker then went dark reappearing on AIS on 10 May in the Gulf of Oman and headed to Karachi, Pakistan. It is the first LNG carrier to cross the Strait of Hormuz since the war started on 28 February. 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

The latest news and commentary on how the US/Israel-Iran conflict is affecting the global maritime industry and shipping markets. Iranian media reports that IRGC Navy has seized a tanker in a special operation May 8, 2026 The Islamic Revolutionary Guard Corps (IRGC) Navy says it seized a tanker in a “special operation” in the Sea of Oman. Iranian media reported the vessel involved as being theOcean Koi, which maritime security company Vanguard Tech identified as the Barbados-flag, 72,000 dwt,Jin Li, which was previously namedOcean Koi.According to Equasis the current flag of theJin Liis unknown. AIS tracking from Pole Star Global showed the tanker’s last reported position on 7 May as being in the Gulf of Oman According to Iranian state media connected to the IRGC undertook what was described as “special operation” to seize the tanker containing a cargo of Iranian oil. It was described as “abusing the conditions in the region to harm and disrupt oil exports” and Iranian national interests. It said that the tanker had been handed over to the judicial authorities in Iran. TheOcean Koiwas sanctioned by OFAC as part of the shadow fleet transporting Iranian petroleum. Related:US Navy jet disables Iranian VLCC 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

Those look for prompt VLCC tonnage are paying as much as a 35% premium for resales May 8, 2026 Geopolitical risk has failed to dampen the appetite forVLCCtonnage with five-year old secondhand prices exceeding those for a newbuild according to Signal Ocean. Sinokor’s rapid build-up of its VLCC fleet in late 2025 and into 2026 helped drive values for secondhand vessels and the upward trend has continued with the onset of the conflict of war in the Middle East at the end of February. Reviewing prices for secondhand VLCCs 60 days into the conflict and the effective closure of the Strait of Hormuz analysts Signal Ocean said the depreciation curve for values appeared to have been lost. “In normal conditions, a resale vessel earns a modest premium for saved wait time, and a 5-year-old ship trades at a clear discount to a new build. Neither is true today,” Signal Ocean said in its latest tanker market monitor. A five-year old VLCC now costs $9 million more than ordering a newbuilding which has an average contract price of $129 million at present. For those looking for prompt availability resales command a premium 21 – 35%, in excess of $45 million over the price of a newbuilding. A 35% premium represents a price for a resale VLCC of $174.5 million. Related:Risk reward balance skews towards dry cargo, says Norden When it comes to Suezmaxes the price of newbuilding and a five-year old vessel are the same at $88 million, while a resale commands a 22% premium at $107.5 million. ForAframaxesa five-year old vessel commands a 2% premium over a newbuilding or an additional $1.6 million. For a resales the price is $88.9 million some 21% higher than the $73.2 million cost of newbuilding figures from Signal Ocean showed. 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

The Aponte family-owned company becomes the first container line to operate a fleet of 1,000 box ships May 6, 2026 The world’s largest container lineMSChas crossed the threshold of 1,000 operated vessels according to analystAlphaliner. The Geneva-headquartered company’s operated fleet hit 1,000 container vessels with the charter of the 868 teuAdmiral Neptune. According to Alphaliner MSC thousand vessels container ship fleet has a total capacity of 7.32 million teu, some 2.67 million teu larger than its nearest rivalMaerskwith a fleet 736 vessels. MSC’s fleet of 1,000 container ships comprises dedicated container vessels as well as what Alphaliner describes as “container friendly” multipurpose ships, and also includes various affiliated companies such as WEC Lines, Log-in-Logistica, and Medlog. The Admiral Neptune is currently docked in the Port of Antwerp according to AIS data and the analyst said it was set to join MSC’s Antwerp – Grangemouth service. 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

US suspends operation for the safe transit of ships out of the Gulf pending a possible peace agreement with Iran May 6, 2026 TheUSmilitary operation designed to allow ships to transit safely out of the Strait of Hormuz has been paused within two days of it starting. Posting on the Truth Social US President Donald Trump said that Project Freedom had been paused to see if final agreement could be reached with Iran on ending the war that started on 28 February. Trump claimed the suspension came at the request of Pakistan, which is acting as mediator with Iran, and that great progress in negotiations between the US and Iran. While the operation to allow commercial vessels to transit the Strait of Hormuz is being paused the US naval blockade of Iranian ports remains in place. Iranian media said Trump was trying to cover up the failure of his plan and making false claims. Project Freedom has been met with scepticism by the shipping industry with industry organisations questioning the level of safety that it would really provide to commercial ships. Related:Fire damaged HMM Namu to be towed to nearby port Just two US-flagged vessels exited the Arabian Gulf via the Strait of Hormuz under the operation, one confirmed as theMaerskvehiclecarrierAlliance Fairfaxand the other believed to be the tankerCS Anthem. As the US launched Project Freedom Iran launched multiple attacks on shipping in and around the Strait of Hormuz with a tanker owned by a company affiliated to ADNOC hit by drones in the Strait on 3 May; a bulker attacked by Iranian fast craft heading towards the Strait, also on 3 May; and the cargo shipHMM Namusuffered an explosion while at anchor off the UAE on 4 May. The UKMTO reported that a cargo ship was struck by an unknown projectile in the Strait of Hormuz at 18:30 hrs UTC on 5 May. A report by CBS quoting US officials said that Maltese-flag CMA CGM San Antonio had been hit by missiles in the Gulf region injuring several Filipino crew members. The last known position of the vessel was off the coast of Dubai. Meanwhile US Central Command said that as of 5 May the naval blockade of Iranian ports had turned around 51 vessels since it started operation on 13 April. 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

The latest news and commentary on how the US/Israel-Iran conflict is affecting the global maritime industry and shipping markets. The waters in the Strait of Hormuz are becoming fiercely contested as the US launches Project Freedom and Iran strikes ships and terminals May 5, 2026 In a chaotic day in the Strait of Hormuz as theUSlaunched it’s Project Freedom evacuation programme Iran struck multiple ships an oil terminal in Fujairah. US Central Command said that two US-flagged vessels successfully transited the Strait of Hormuz in a first step of its Project Freedom mission.Maersksaid that its US-flagged car carrierAlliance Fairfaxtransited the Strait without incident. TheAlliance Fairfaxis part of the US Maritime Security Programmed and owned by US-based Maersk Line Ltd. US also said it had eliminated seven Iranian fast boats threatening commercial shipping. Iran has been using small, fast craft to swarm commercial vessels in the Strait of Hormuz. Iran, which has maintained a stranglehold on the Strait of Hormuz since the start of the war with US – Israel on 28 February effectively closing it to commercial shipping, responded attacking multiple ships, Fujairah oil terminal, and fired missiles at Dubai. Related:HMM cargo ship hit by explosion off UAE A drone strike on Fujairah Petroleum Industries Zone resulted in a large fire. Fujairah Media Office said three Indian nationals were injured in the attack. As reported onSeatrade Maritime NewstheSouth Korean-owned, Panama-flagged general cargo shipHMM Namuwas hit by an explosion while at anchor in OPL of Umm Al Quwain,UAE. A tanker owned by a shipping company affiliated to ADNOCwas hit by two dronesin the Strait of Hormuz and the UAE said it "strongly condemned and denounced the Iranian terrorist attack". The were also a report from UKMTO of a vessel on fire 14 nm northwest of Mina Saqr in the UAE. Maritime security Vanguard Tech said the vessel involved was a Marshall Islands flagged tanker. The cause of the fire remains unconfirmed. Meanwhile US Centcom said that its blockade of Iran ports had now redirected 50 vessels since it started operation at the edge of the Arabian Sea on 13 April 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

The long-term prospect for diesel costs and fuel surcharges is pushing US truck shippers to rethink how they move freight, and even to redesign networks. The services, which include land bridge options to circumvent the still-effectively closed Strait of Hormuz, appear to be an acknowledgement by the liners that Hormuz will remain a no-go zone for the foreseeable future. The move coincides with plans by XCTG to develop new berths, upgrade existing berths, and develop a multimodal smart logistics center.

The latest news and commentary on how the US/Israel-Iran conflict is affecting the global maritime industry and shipping markets. All 24 crew of the South Korean general cargo ship are reported to be safe May 4, 2026 A Panama-flagged Korean general cargo shipHMMNamuhit by an explosion while at anchor. The 2026-built, 38,000 dwtHMM Namuwas struck by an object while at anchor in OPL of Umm Al Quwain,UAE,with a distress signal sent at 11:40 hrs UTC by a nearby vessel. According to maritime security firm Vanguard Tech an explosion was observed on the port side near the engine room. Security sources indicate that source of the explosion was either a USV (sea drone) or a drifting sea mine. Coalition forces were reported to be on the scene. All 24 crew on board theHMM Namuare reported to be safe. The crew comprises six South Korean nationals and 18 seafarers of other nationalities. No environmental damage has been reported as a result of the strike. Over the weekend there were reports of warnings to vessels anchored off Ras Al-Khaimah, UAE to move from their anchorages. On 4 May Iran announced new maritime control zone in the Strait of Hormuz that extends from south of the line between Mount Mubarak in Iran and south of Fujairah in the UAE and from the west, the line between the tip of Qeshm Island in Iran and Umm Al Quwain in UAE. Related:US strikes Iran fast boats, two vessels transit Hormuz It is third attack on a commercial vessel in the region in just over a 24 hour period. A tanker was hit by suspected drones 78 nm north of Fujairah at 19:40 hrs UTC on 3 May, and a bulker attacked by multiple small vessels 11 nm west of Sirik in Iran while northbound towards the Strait of Hormuz at 11:30 hrs UTC on 3 May. 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

The latest news and commentary on how the US/Israel-Iran conflict is affecting the global maritime industry and shipping markets. Bimco questions how the Iranian security threat can be suppressed in the Strait May 4, 2026 On one side the US says it will create a safe corridor for ships to exit the Strait of Hormuz while on the other Iran says it’s in control of the entire waterway. The announcement of Project Freedom by US President Trump sees an upping of the ante between Iran and the US for control of the Strait of Hormuz. Following military forces plan to a safely guide ships stranded in the Arabian Gulf out through the Strait of Hormuz following a route in Omani waters to the south of the current traffic separation scheme according to the Joint Maritime Information Center (JMIC), Iran’s Islamic Revolutionary Guard Corps issued what it described as new maritime control zone covering the entire Strait. According to Iranian press reports the new maritime control zone extends from south of the line between Mount Mubarak in Iran and south of Fujairah in the UAE and from the west, the line between the tip of Qeshm Island in Iran and Umm Al Quwain in UAE. Related:US strikes Iran fast boats, two vessels transit Hormuz This zone would encompass the region in Omani waters that the JMIC said would used for safe transit by the US. The claim by Iran which encompasses territorial waters of both Oman and the UAE would seem to be consistent with reports of warnings to vessels anchored off Ras Al-Khaimah, UAE to move from their anchorages. Commenting on the US plan Jakob Larsen, Bimco's Chief Safety & Security Officer noted there were no formalised details or guidance released to the shipping industry. A security consultant said he believed it would create even more confusion especially since there was no prior engagement or notification to other coalition partners and would leave the industry scrambling for information but not knowing who to or how to contact. Larsen commented, “Without consent from Iran to let commercial ships transit safely through the Strait of Hormuz, it is currently not clear whether the Iranian threat to ships can be degraded or suppressed. “In view of the Iranian threats against any ship attempting to transit the Strait of Hormuz without coordination with Iran’s military, there is a risk of hostilities breaking out again if “Project Freedom” goes ahead,” he added. Unlike the brief re-opening of the Strait on 17/18 April there does not appear to be a queue of vessels forming to transit the waterway. 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

Ocean Network Express (ONE) reported a sharp decline in earnings for full-year 2025, as weaker freight rates and soft demand weighed on performance despite stable volumes. The Singapore-headquartered carrier grouping posted full-year revenue of $16.6bn for the period April 2025 to March 2026, down 14% year on year. EBITDA fell 54%, to $2.75bn, while EBIT dropped 92%, to $310m. Net profit also plunged 92% to $338m. Lifted volumes remained largely flat, up just 1% year on year, to 12.9m teu – an increase of 117,000 teu, which lagged significantly behind overall year-on-year market demand growth of 4.7% last year, according to Container Trades Statistics. ONE said cargo movements had remained “sluggish” in the fourth quarter, although a modest recovery in freight rates helped deliver a quarterly profit of $55m. But for the full year, demand was described as ‘subdued’, although there was some seasonal strength on the Asia-Europe trade ahead of Chinese New Year. The carrier noted that an influx of newbuild tonnage continued to pressure the supply-demand balance, weighing on freight rates. However, this was partially offset by port congestion and severe weather disruption, which tightened effective capacity. Geopolitical tension in the Middle East also pushed up costs, although the direct impact on fourth-quarter earnings was limited. The carrier explained that costs had risen across several areas. Operating expenses increased, due to higher vessel costs and port charges, while variables were driven up by more expensive empty container repositioning. Freight rates also declined overall, amid the softer supply-demand balance, although bunker prices fell year on year and overhead costs remained stable. In the Asia-North America eastbound trade, both the pre-CNY peak and post-holiday recovery were weaker than expected, with volumes trending down year on year. In contrast, ONE noted that Asia-Europe westbound demand had strengthened ahead of the holiday, supporting improved utilisation on both major routes. Chief executive Jeremy Nixon said the line had managed to remain profitable through “disciplined cost control and operational efficiency”, despite the heightened volatility. “While we continue to navigate a complex and volatile global environment, our focus remains on maintaining safe, secure, and reliable operations,” he said, adding that a new leadership structure and service enhancements would support performance in the coming year. And looking ahead, ONE forecasted a full-year profit of around $300m for FY2026, another decline following 2025, and warned that outlook visibility remained limited due to geopolitical risks, particularly in the Middle East. The carrier said the restrictions in the Strait of Hormuz and continued diversion from the Red Sea/Suez Canal route, with vessels still routing via the Cape of Good Hope, had added significant cost pressure. And cargo flows to North America had weakened, while demand for Europe-bound shipments remained comparatively robust. To mitigate disruption, ONE said it had taken “agile measures” across its network, including expanding terminal capacity in key locations such as Laem Chabang and Busan, aimed at stabilising operations and improving service reliability. Inside the industry’s AI shift Complete The Loadstar’s ‘State of AI in the Supply Chain’ survey — and receive the full report and data before release. Take the 2-min survey