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.

Get More Info : Infinity Dynamics

Website : https://seajob.net/

Contact Us: Jobs On Ships

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

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

Oslo port incentivising green ships

As global emissions standards tighten, ports and maritime authorities are rolling out new schemes to reward vessels that operate more efficiently and sustainably.

Oslo Port – Rewarding Emission Reductions

Starting in 2026, the Port of Oslo will introduce financial incentives for cleaner shipping. Vessels which operate emission-free in and out of the Steilene area will receive a 100% discount on quay fees, while cargo vessels that connect to established shore power facilities will qualify for a 20% discount. At the same time, the former 20% discount for scheduled-route traffic will be discontinued, shifting the scheme toward rewarding genuine emissions reductions.

Environmental discounts are calculated using two established methods:

Environmental Port Index (EPI) – specifically for cruise ships. The EPI measures a vessel’s environmental performance while in port, fuel consumption and use of shore power. It is managed by EPI AS (developed with DNV and Norwegian ports). Cruise ship owners should register their vessels and report technical data to the EPI portal, which in turn will allow the Port of Oslo to issue discounts based on the ship’s EPI score.

Environmental Ship Index (ESI) – used for all ship types. Administered by the International Association of Ports and Harbors (IAPH), ESI evaluates ships’ overall emissions performance and increasingly considers at-berth emissions. Ship-owners voluntarily register their vessels and provide verified emissions data, and higher ESI scores make ships eligible for larger environmental discounts at Oslo.

Get More Info : Rig Jobs

Website : https://seajob.net/

Contact Us : Marex

More ships to avoid the Red Sea as attacks disrupt world trade. | Sailor Job

Germany’s Hapag-Lloyd and Hong Kong’s OOCL said on Thursday they would avoid the Red Sea, the latest shipping companies to do so after attacks by Yemen’s Houthi group on vessels disrupted global trade, prompting the establishment of a naval task force.

Hapag-Lloyd said it would reroute 25 ships by the end of the year the key waterway as freight rates and shipping stocks have increased because of the disruption. Avoiding the Red Sea and Suez Canal means following a far longer route around Africa.

The Iran-aligned Houthis, who control much of Yemen, have been attacking ships passing through the Bab al-Mandab Strait at the southern end of the Red Sea for weeks in what they say is a response to Israel’s war in Gaza.

Get More Info : Maritime Union Of India

Contact Us : Sailor Job

Secondhand LNG carrier prices hit a record high; prospects rosy. | Rig Jobs

Due to stricter environmental restrictions and rising demand from European nations looking to replace their reliance on Russian gas imports, the price of used liquefied natural gas (LNG) carriers is rising rapidly and is now almost on close to the price of new LNG ships.

According to global market researcher Clarkson Research Service, a five-year-old LNG carrier with a 174,000-cubic-meter capacity was traded at a record $250 million in June.

The price compared with $185 million a year ago and $170 million in June 2021.

Last month’s used LNG carrier price is more than 96% that of a newly built LNG ship, which cost $260 million.

Prices of smaller LNG vessels with capacities between 138,000 cubic meters and 140,000 cubic meters have also doubled from two years ago, data showed.

“Ship owners, which run a fleet of LNG carriers over a relatively short period for investment purposes, are busy handling incoming requests for sales these days,” said an industry official.

Get More Info : Shipping Openings

Websites : https://www.seajob.net/

Contact Us : Sailors Today

Iran, Venezuela launch direct shipping line | Crewing Assistance

Iran and Venezuela have launched a direct shipping route to enhance trade ties amid U.S. sanctions, the Iranian embassy in Caracas announced in a statement released on Friday.

According to the statement, the route seeks to facilitate the interaction between traders in both countries, Mehr News Agency reported.

Appreciating the efforts of the Islamic Republic of Iran Shipping Lines (IRISL), the embassy said a cargo ship will leave Iran for Venezuela every three months.

The IRISL said last week that a ship carrying Iranian goods will head to Venezuela in May.

In late December 2022, the state-owned shipping company had notified Iranian authorities and the chambers of commerce of the country, expressing readiness to create a regular shipping line to export Iranian commodities to Venezuela. 

Get More Info : Our sea world

Websites : https://www.seajob.net/

Contact Us : Sailor Job

Adani Ports halts non-group loans, to cut debt instead | Marine Mantra

Adani Ports and Special Economic Zone Ltd will discontinue lending money to non-group companies after having lent at least ₹12,687 crore last year, according to a Mint analysis. Instead, the Gautam Adani-controlled company will use surplus funds to cut its ₹44,000 crore debt pile.

Adani Ports’ management disclosed the information to analysts from Pimco, Deutsche Bank, and JP Morgan Asset Management in response to queries regarding the nature of the loans extended to non-related parties or those not owned by the group promoter.

“Let me categorically say there is no ICD (inter-corporate deposits), there are no loans, no advances given to any group company,” Karan Adani, chief executive of Adani Ports, said in a post-earnings call with analysts on 7 February.

Karan is the elder son of founder Gautam Adani, whose family owns 65.13% of Adani Ports. About 17.3% of the promoter’s stake is pledged with creditors as of 31 December.

Get More Info : Marine Vacancies

Websites : http://seajob.net/

Contact Us : Sailor Job