Tuesday, June 16, 2026

Shipowners may have window to sell harder-to-place vessels as recycling supply tightens

Shipowners with older or harder-to-place vessels may have a stronger opportunity to test the recycling market over the coming months, as limited demolition supply continues to support recycler appetite despite weaker steel conditions in some key markets. Wirana Shipping’s latest market outlook indicates that supply is likely to remain tight in the near term, unless an Iran sanctions waiver forms part of a wider settlement to the Middle East conflict and releases additional tonnage into the market.

Without that shift, improving or resilient freight conditions in several trading segments are expected to keep many older vessels trading rather than being sold for recycling. Container demand and charter rates have improved, secondhand demand for container vessels is strengthening, and LPG market conditions remain favourable, while tanker markets could also gain support if oil restocking follows a wider Middle East settlement.

Dry bulk remains more mixed, with capesize rates down but other sizes showing marginal improvements. Even so, the wider market picture points to a restricted flow of recycling candidates, leaving recyclers competing for available vessels at a time when some owners may have more leverage than usual.

India has seen recycling prices hold steady despite softer local steel fundamentals, while Bangladesh recyclers have shown willingness to improve offers as they look to secure tonnage. Pakistan also remains short of available vessels, with only limited dry tonnage circulating.

Mr Khetan, CEO of Wirana Shipping, said: “The question for owners is whether they wait for clarity or take advantage of a market where recyclers still need tonnage. If an Iran sanctions waiver becomes part of a wider Middle East settlement, additional units could come forward and change the supply picture quickly. Until then, owners with older or less attractive vessels may find today’s market more receptive than expected.

Source: Wirana Shipping Corporation

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Monday, June 8, 2026

Panama Canal congestion hits yearly high, prompting Jones Act waivers

Panama Canal congestion has climbed to the highest levels this year, prompting US authorities to grant multiple Jones Act waivers for domestic shipments even as the canal authority pledged to maintain full transit capacity through December despite looming maintenance and El NiƱo risks.

The Panama Canal Authority will conduct a dry chamber overhaul from June 9-17, reducing daily transit slots to 16 from the current operational capacity of 36-40 transits, according to shipping analysts at BIMCO.

The maintenance comes as wait times have already climbed to 3.2 days for southbound vessels and 2.3 days for northbound traffic, with average waiting periods rising 50% year over year to 47 hours, the analysts said.

“So far this year, ship transits via the Panama Canal have increased 8% year over year to a daily average of 38, driven by the tanker sector,” Filipe Gouveia, shipping analysis manager at BIMCO, said, driven by surging US energy exports to Asia and the Americas’ West Coast following the Strait of Hormuz closure.

The growing backlog has driven the US Maritime Administration to issue Jones Act waivers allowing foreign-flagged ships to transport goods between US ports, particularly to the West Coast.

In 2026 so far, 21 waivers have been granted to vessels en route from the US Gulf Coast, 11 from the West Coast and nine from the Atlantic Coast, all bound for West Coast destinations, according to MARAD.

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Thursday, June 4, 2026

Wind-powered cargo ships sail past the 100-vessel milestone

The latest installations of wind propulsion technology on large commercial vessels have pushed the global fleet of cargo ships capable of harnessing wind energy beyond the 100-vessel milestone, representing over five million tonnes of deadweight (DWT) cargo carrying capacity.

The passing of this milestone marks a significant turning point in the uptake of wind propulsion in the commercial fleet. What was once widely viewed as a niche or historical form of ocean transport is now emerging as one of the fastest-growing practical decarbonisation solutions across multiple segments of the shipping industry.

These ships are fitted with over 230 individual wind propulsion systems, and collectively they are now saving over 100,000 tonnes of CO2 per year. The number of wind-powered ships is further boosted by 12 large cargo ships that are ‘wind-ready’ with infrastructure already installed on deck if, or when, full installation of a wind propulsion device is required, but these don’t feature in this headline number. Additionally, a fleet of dozens of smaller cargo ships, under 400GT are also utilising wind power, as are a number of traditionally rigged cruise ships and these are also not included in this tally.

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Tuesday, June 2, 2026

Korean shipbuilders seize bulk of VLGC/VLAC orders as LPG demand surges

The high-value ship order range of Korean shipbuilders is expanding from liquefied natural gas (LNG) carriers to very large gas carriers and very large ammonia carriers (VLGC/VLAC) that carry liquefied petroleum gas (LPG) and ammonia. As freight rates for LPG carriers remain high due to increased LPG exports from the United States and Middle East risks, shipping companies are placing more newbuilding orders. Korean shipbuilders are leading the market this year, winning about 75% of VLGC/VLAC orders placed worldwide.

VLGC/VLAC are high-value ship types with higher prices and technological complexity than general merchant vessels, as they share similar basic designs such as cargo tanks and gas handling systems. Recently, order trends have been shifting toward multi-specification vessels that can carry both LPG and ammonia or can be adapted for future ammonia transport.

◇ Even with transits through the Strait of Hormuz, gas carrier shortage persists

According to shipbroking and shipping market firm Fearnleys on the 29th, the spot rate for an 84,000-cubic-meter VLGC in the third week of May was $6 million per month (about 9 billion won), up $300,000 (about 450 million won) from a week earlier. On a simple conversion, that is about $200,000 per day (about 300 million won). Fearnleys said some recently concluded contract rates have again hit a record high on a per-ton basis because there is a shortage of ships to load June cargoes departing the U.S. Gulf.

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Monday, June 1, 2026

Assessment Highlights Critical Infrastructure Needs for the Expansion of Sustainable Maritime Fuels

The global maritime industry is undergoing a significant transformation as it seeks to reduce carbon emissions and achieve ambitious sustainability targets. A recent assessment has highlighted the critical infrastructure requirements necessary to support the large-scale adoption of sustainable maritime fuels. As shipping companies, governments, and industry stakeholders work toward decarbonization, investments in fuel production, storage, distribution, and port facilities have become increasingly important.

Sustainable maritime fuels, including green methanol, ammonia, biofuels, and hydrogen-based alternatives, are widely regarded as essential for reducing the environmental impact of global shipping. However, the transition from conventional fossil fuels to cleaner alternatives presents numerous challenges. The latest assessment reveals that existing infrastructure is insufficient to meet future demand, making strategic development a priority for the maritime sector.

One of the key findings of the report is the need for extensive upgrades at ports worldwide. Ports will require specialized storage tanks, bunkering facilities, safety systems, and distribution networks to accommodate next-generation fuels. Without these developments, shipping companies may face difficulties accessing sustainable fuel supplies, potentially slowing industry-wide adoption.

The report also emphasizes the importance of collaboration among stakeholders. Governments, fuel producers, port authorities, shipowners, and maritime organizations must work together to establish common standards and accelerate infrastructure investments. Industry groups such as the Maritime Union Of India have consistently highlighted the importance of sustainable growth while ensuring that seafarers are equipped with the skills needed to operate vessels powered by alternative fuels.

Digital platforms and industry resources are expected to play a major role in supporting this transition. Every leading Marine Website now provides updates on sustainability initiatives, fuel innovations, and regulatory developments. These platforms serve as valuable sources of information for maritime professionals seeking to stay informed about the latest industry trends.

The growth of sustainable maritime fuels is also expected to create significant employment opportunities. Demand for skilled personnel will increase across various segments, including fuel logistics, vessel operations, engineering, and environmental compliance. As a result, Job Ships related to green shipping technologies are likely to become more common in the coming years.

The transition will generate new opportunities in both sea-going and land-based sectors. Professionals seeking Offshore Jobs will benefit from increased investment in offshore energy production facilities, while Shipboard Jobs will require crews trained in handling alternative fuel systems. Likewise, Jobs On Ships involving technical operations, maintenance, and safety management are expected to expand as new vessel technologies enter service.

Specialized sectors are also expected to experience growth. Dredger Jobs may increase as ports undertake expansion projects to accommodate upgraded fuel infrastructure and larger vessels. Similarly, Marine Jobs across engineering, operations, surveying, and project management will play a vital role in supporting the industry's sustainability goals.

The cruise sector is also adapting to the evolving fuel landscape. Many operators are exploring cleaner propulsion technologies, creating new Cruise Ship Jobs for professionals with expertise in environmental management and alternative fuel systems. This shift reflects the broader commitment of the maritime industry to reduce emissions while maintaining operational efficiency.

Industry experts believe that the search for the Best Sea Jobs will increasingly focus on candidates with knowledge of sustainable shipping practices. Training institutions and maritime academies are already updating their curricula to prepare future seafarers for emerging technologies and regulatory requirements.

Beyond onboard employment, the expansion of sustainable fuel infrastructure will create substantial opportunities ashore. Shore Jobs In Shipping related to logistics, fuel supply chain management, terminal operations, regulatory compliance, and sustainability planning are expected to witness strong demand. Organizations such as Marine Mantra and other maritime information platforms continue to highlight these evolving career trends and industry developments.

As the maritime sector advances toward a greener future, infrastructure investment remains the foundation of successful fuel adoption. The assessment makes it clear that coordinated action, technological innovation, and workforce development are essential to achieving long-term sustainability goals. With the right infrastructure in place, the shipping industry can accelerate its transition to cleaner fuels while creating new opportunities for maritime professionals worldwide.

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Thursday, May 28, 2026

New global assessment maps infrastructure pathways to scale sustainable maritime fuels

A new report from the Lloyd’s Register Maritime Decarbonisation Hub (The Decarb Hub) finds that early investment in a small number of strategically positioned hubs and export gateways could accelerate the availability and uptake of sustainable maritime fuels.

The report, Building the sustainable maritime fuel supply chain, is the first in The Decarb Hub’s “Maritime System in Transition” series. It sets out a global, evidence-based assessment of where alternative maritime fuels, including e-fuels and selected sustainable biofuels, are most likely to be produced, exported and bunkered first, and what this means for near-term infrastructure investment.

The analysis shows that global bunkering demand is highly concentrated, with just 19 ports supplying around half of the world’s marine fuel. This creates a clear opportunity to accelerate early adoption by equipping a small number of high-impact ports to handle multiple new fuel types safely. However, with the emerging sustainable maritime fuel trade, other ports can also play a significant role.

At the same time, the report also highlights a growing geographic mismatch between where sustainable fuel production is emerging and where demand is currently concentrated. Most credible fuel production projects are located outside today’s largest bunkering hubs, meaning the first wave of supply chains will depend on linking export-oriented production regions with established demand centres through viable trade routes and infrastructure corridors.

A key finding is that early fuel projects overwhelmingly favour co-location with existing industrial and port energy clusters. More than 60% of e-fuel projects are located within established refineries, petrochemical hubs or energy sites, helping reduce delivery risk by leveraging existing utilities, storage, permitting and logistics infrastructure.

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Monday, May 25, 2026

Iran’s control of Strait of Hormuz raises legal issues; reopening unlikely

Iran’s tightening grip on the Strait of Hormuz has left global energy markets and shipping in turmoil, with The Financial Times reporting that a full reopening of the waterway in 2026 is unlikely.

Instead, countries such as India, China, Japan, and South Korea may be forced into bilateral deals with Tehran to secure passage, while legal and political disputes over Iran’s maritime claims deepen.

Energy and shipping disruption

According to The Financial Times, maritime traffic through the Strait of Hormuz has collapsed by more than 90% from pre-conflict levels, as insurers withdraw coverage and war-risk premiums soar.

The chokepoint, which normally carries about 20% of global oil and LNG flows, has become nearly inaccessible to Western-flagged vessels.

Moody’s has warned that Asian importers will likely negotiate bilateral transit corridors with Iran, possibly through routes near Larak Island or via Omani waters, but a return to pre-war traffic volumes this year is improbable.

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Shipowners may have window to sell harder-to-place vessels as recycling supply tightens

Shipowners with older or harder-to-place vessels may have a stronger opportunity to test the recycling market over the coming months, as lim...