Pan Ocean lifts Q1 profit in South Korea on tanker, LNG, bulk gains

Pan Ocean said on May 4 in a regulatory filing that operating profit on a consolidation basis for the first quarter was 140.9 billion won, up 24.4% from a year earlier on a preliminary basis.

Revenue for the same period was a preliminary 1.5089 trillion won, up 8.3%, and net profit was a preliminary 94.5 billion won, up 31.2%.

By institutional sector, first-quarter operating profit in the tanker business was 28.1 billion won, up 41.5% from the same period a year earlier, driven by strong freight rates for MR (Medium Range) tankers of 55,000 DWT (deadweight tonnage) and below.

During the same period, operating profit in the liquefied natural gas (LNG) business institutional sector rose 49.7% to 47.2 billion won. Pan Ocean said the completion of all new ship deliveries had a major impact.

Operating profit in the bulk carrier institutional sector also rose 14.4% from a year earlier to 54.7 billion won. However, the container ship institutional sector recorded operating profit of 9.0 billion won for the same period, down 42.9% due to oversupply.

Get More Info : Infinity Dynamics

Website : https://seajob.net/

Contact Us : Crewing Assistance

Baltic Dry Index Snaps 2-Day Advance | Infinity Dynamics

The Baltic Exchange’s dry bulk freight index, which monitors rates for ships carrying dry bulk commodities, snapped a two-day winning streak on Wednesday, falling 0.3% to 2,670 points.

The capesize index, which typically transports 150,000-ton cargoes including iron ore and coal, decreased 0.5% to 4,283 points; and the supramax went down 0.5% to 1,534 points.

On the other hand, the panamax index, which usually carries 60,000 to 70,000 tons of coal or grain, rose 0.7% to 1,979 points.

Get More Info : Infinity Dynamics

Website : https://seajob.net/

Contact Us : Crewing Assistance

Regional Shipping Networks Gain as Global Trade Routes Realign

Global trade disruption and realignment are transforming the Red Sea Corridor into a pivotal hub for resilient supply chains, highlighting the importance of investment in infrastructure, technology and localisation to drive long-term value creation, reveals a new impact report by Oxford Business Group (OBG) in partnership with Folk Maritime.

Titled, “Trade Shifts, the Red Sea Corridor and Local Value Creation,” the impact report examines how evolving trade routes are redefining maritime competitiveness across the Red Sea, the Arabian Gulf, East Africa, India and South-east Asia. It highlights the growing importance of infrastructure development, technology adoption and low-carbon strategies in strengthening resilience and enabling sustainable growth.

The report finds that the reconfiguration of global supply chains is accelerating investment in maritime infrastructure and regional shipping networks, while increasing demand for operational efficiency and digital integration. Governments and private operators are modernising ports, expanding capacity and enhancing connectivity, with Saudi Arabia emerging as a key hub in efforts to strengthen regional and intercontinental trade links.

It also underscores the role of emerging markets in global trade, as shifting logistics patterns create opportunities for greater participation in value-added logistics activities. Rising investment in human capital and local capabilities is supporting service quality and operational efficiency, while contributing to broader economic diversification objectives.

Get More Info : Infinity Dynamics

Website : https://seajob.net/

Contact Us : Crewing Assistance

U.S. Navy intercepts Iran-linked vessel in Arabian Sea, orders return to Iran | Maritime Crew

U.S. naval forces intercepted a sanctioned vessel called ’Sevan’ in the Arabian Sea on Saturday, in a move tied to the Trump administration’s campaign to block Iranian energy exports, U.S. Central Command said. The vessel was halted by a helicopter deployed from the guided-missile destroyer USS Pinckney (DDG 91), and is now complying with orders to reverse course toward Iran under escort.

“M/V Sevan was among 19 “shadow fleet” vessels sanctioned by the U.S. Department of Treasury for activities related to transporting billions of dollars worth of Iranian energy, oil and gas products, including propane and butane, to foreign markets,” Central Command said in a statement.

Planned Negotiations in Pakistan Canceled

Earlier today, U.S. President Donald Trump said he canceled the planned visit of U.S. envoys to Islamabad on Saturday in a post on Truth Social, adding that the US has “all the cards” and all Iran has to do “is call.” Later, speaking to reporters of the decision to cancel the trip, Trump said of Iran, “They have no military left, they have no leaders left,” and that the envoys wouldn’t be traveling 16-17 hours to not meet “the leader of the country.”

He also said that they received “a paper that should have been better,” and within 10 minutes of it being “canceled,” they received a “new paper that was much better,” but the offer wasn’t good enough. “They will not have a nuclear weapon,” he added.

Jared Kushner and Steve Witkoff were scheduled to arrive this weekend in Pakistan for a fresh round of diplomacy aimed at ending the eight-week conflict with Iran, but their trip was canceled after Iran’s Foreign Minister Abbas Araqchi left Pakistan early, before the envoys arrived.

In a post on Truth Social, Trump stated: “Too much time wasted on traveling, too much work! Besides which, there is tremendous infighting and confusion within their “leadership.” Nobody knows who is in charge, including them. Also, we have all the cards, they have none! If they want to talk, all they have to do is call!!!”

Get More Info : Infinity Dynamics

Website : https://seajob.net/

Contact Us : Crewing Assistance

Three ships attacked in Hormuz after ceasefire extension

Three ships were attacked near the Strait of Hormuz on Wednesday, after President Donald Trump announced an indefinite extension to a ceasefire agreement with Iran hours before it was due to expire.

State media in Iran reported that the paramilitary Islamic Revolutionary Guards Corps had attacked a ship in the strait, saying the vessel was “stranded” on the Iranian coast.

Shipping monitor U.K. Maritime Operation said a separate container ship in the strait was attacked, shortly after a boat belonging to the Revolutionary Guards struck a ship in the area. Iranian state media claimed that the Revolutionary Guards seized these two vessels.

Trump has also said an ongoing U.S. blockade of Iranian ports and coastline — an action that Iran’s foreign minister has argued constitutes an “act of war” — will stay in place. He argued that Iran is “collapsing financially!” and wants the strait to be “opened immediately” because Tehran is “Starving for cash.”

Tanker shipping through the Strait of Hormuz, a vital waterway off of Iran’s southern coast through which roughly a fifth of the world’s oil traverses, has been all but closed since the start of the war in late February.

Get More Info : Merchant Marine Jobs

Website : https://seajob.net/

Contact Us : Infinity Dynamics

Europe looks to secure shipping in Strait of Hormuz

France and the United Kingdom have said they are ready to lead a multinational mission to help restore freedom of navigation and trade in the Strait of Hormuz, only to be deployed once peace had been agreed in the region.

But at a meeting of the coalition of nonbelligerent states in Paris on Friday, the mood remained one of caution.

A temporary ceasefire has put fighting between Iran and a US-Israeli coalition on hold until April 22. On Thursday, a 10-day ceasefire was also announced between Israel and Lebanon, the stronghold of Iranian-backed militia Hezbollah.

On Friday, both Iran and the US said the Strait of Hormuz was now “open” to commercial shipping, though the US said its blockade of Iranian ports would remain in place until a peace deal with Tehran was reached. Shortly after, on Saturday, Iran reversed its decision to open the strait, citing the US blockade of its ports. Several merchant vessels reported gunfire as they were attempting to cross.

Maritime traffic there had ground to a halt since the start of the war on February 28, with Iranians threatening to bomb merchant ships attempting to pass through the key waterway. About 20% of the world’s oil and gas normally passes through the strait.

Get More Info : Infinity Dynamics

Website : https://seajob.net/

Contact Us : All Types of Marine Jobs

Hormuz After the Ceasefire: A Controlled System, Not a Recovery

 A ceasefire has been declared, but the maritime system has not reset.

Transit through the Strait of Hormuz remains restricted, coordinated, and selectively enforced. There has been no return to open commercial navigation. Standard shipping lanes remain largely unused, and no meaningful increase in traffic has followed the ceasefire announcement.

This is not a recovery phase — it is a supervised pause, where operational control remains intact, and geopolitical leverage is still being actively exercised.

Transit Remains Selective and Constrained

Transit volumes remain low and highly selective.

On April 8, five bulk carriers were tracked outbound through the Strait, all moving through the IRGC-controlled corridor around Larak Island rather than through standard commercial shipping lanes. One 76-meter general cargo vessel departing Oman exited the Strait south of Larak Island, outside standard navigation routes.

By April 9, only limited additional movements were observed, including one inbound handysize bulk carrier, a small outbound product tanker, and a sanctioned, falsely flagged LPG carrier carrying Iranian LPG outbound after previously aborting its transit attempt. Additional vessel presence consists primarily of Iran-flagged ships operating within the controlled corridor.

Get More Info : Infinity Dynamics

Website : https://seajob.net/

Contact Us : Shipping Openings