UAE Will Leave OPEC Group on May 1: State Media
The United Arab Emirates (UAE) will exit the Organization of the Petroleum Exporting Countries (OPEC) and the wider OPEC+ group from May 1 after nearly 60 years, Emirati state news agency WAM announced Tuesday. Read More
US Gulf Coast VLSFO Bunkers, LSMGO Remain Strong on Scarcity of Blending Components
As the U.S.-Iran conflict continues, the global middle distillate reshuffle has increased the cost of blending finished marine fuels and kept retail bunker prices high in the U.S. Gulf Coast. Read More
Hormuz Strait Crossings Slow After U.S. Imposes Blockade on Iranian Ports
Six vessels crossed the Strait of Hormuz on Tuesday after the U.S. imposed a blockade on maritime traffic entering or departing Iranian ports and coastal areas, down from seven on Monday and 12 on Sunday, according to shipping tracking data from Kpler. Read More
28 Vessels Cross Hormuz Strait Ahead of US Blockade Threat
A total of 28 vessels have crossed or are transiting the Strait of Hormuz since Saturday ahead of the threat of a U.S. military blockade, with 16 ships entering and 12 vessels exiting the Middle East Gulf via the strategic chokepoint, according to ship-tracking data from Kpler. Read More
Wanhua Pays $4 Million for LPG Transit at Panama Canal Neopanamax Auction
A new record was set at the Panama Canal's Neopanamax auctions on Wednesday with China's Wanhua paying $4 million for a liquefied petroleum carrier (LPG) transit, data from shipping agents showed. Read More
Marine Fuel Prices in Rotterdam Port Jump as Much as 86% on Middle East Conflict
High Sulfur Fuel Oil (HSFO), Very Low Sulfur Fuel Oil (VLSFO) and Low Sulfur Marine Gasoil (LSMGO) bunker fuel prices for vessels at the Port of Rotterdam have nearly doubled since the start of the Middle East conflict in February, OPIS pricing data showed. Read More
Ship Fuel Costs up $393 Million/Day as US, Israel Strikes on Iran Spur Oil Prices Higher
Shipping companies are spending an extra €340 million ($394 million)/day in additional fuel costs due to the ongoing conflict between the U.S., Israel and Iran, according to the European Federation for Transport and Environment (T&E) in a report on March 27. Read More
Trump Orders 60-Day Waiver of Jones Act Requirements in a Bid to Ease Rising Fuel Prices
President Trump on Wednesday authorized a 60-day waiver of the Jones Act that will temporarily allowing foreign-flagged vessels to transport oil, natural gas and other commodities between U.S. ports as part of an effort to limit energy market disruptions and moderating fuel costs that have soared on the continuing conflict in the Middle East. Read More
Japanese Trio Sign MoU for Newbuild Ammonia Bunkering in Singapore
Japan's Sumitomo Corporation has signed a Memorandum of Understanding (MoU) with shipowners Nippon Yusen Kabushiki Kaisha (NYK Line) and Kawasaki Kisen Kaisha (K Line) to develop a newbuild ammonia bunkering vessel in Singapore. Read More
Bunker Shortage in East Asia Spurs Longer Voyages, Higher Ton Mileage for VLGCs
Very Large Gas Carriers (VLGCs) are heading south to Singapore to refuel as bunker supplies at certain ports in East Asia come under pressure, according to a report by KPI OceanConnect and shipbrokers on Thursday. Read More
Ship Traffic Through Strait of Hormuz Plunges Amid Conflict: JMIC
Ship traffic through the Strait of Hormuz has fallen from an average of 138 vessels a day to just two on March 5 due to the U.S.-Iran conflict, with "no confirmed indicators of de-escalation", according to the Joint Maritime Information Centre (JMIC) in an advisory post to its website on Friday. Read More
New War Risk Insurance Premiums Expected for Middle East Gulf by March 7
Following an escalation of tensions in the Middle East Gulf, insurance underwriters are expected to issue new war risk premiums by March 7, a shipping management firm informed OPIS on Thursday. Read More
Trump Readies US Naval Protection, Orders Insurance for Ships in Middle East Gulf
President Donald Trump has announced the U.S. International Development Finance Corporation will provide political risk insurance and financial guarantees for vessels passing through the Strait of Hormuz at a "very reasonable price", in a post to social media on Wednesday. Read More
Strait of Hormuz Diversions Hinder Oil Cargoes from Reaching Markets
As shipping companies avoid the closure of the Strait of Hormuz following U.S. and Israeli military strikes on Iran, this has in turn curtailed refined product flows from the Persian Gulf region/Gulf of Oman from reaching export markets, according to market sources. Read More
Maersk, Hapag-Lloyd to Reroute Joint Shipping Service via Red Sea
Shipping companies A.P. Moller Maersk and Hapag-Lloyd have changed the route of one of their shared services under the Gemini Cooperation to transit the Red Sea and Suez Canal area, according to Maersk in an advisory to customers on Tuesday. Read More
Tank, Ports Partner to Develop EU CCS Shipping Corridor
LBC Tank Terminals, Associated British Ports and the North Sea Port have signed a Memorandum of Understanding to develop a Carbon Capture and Storage (CCS) terminal and shipping corridor connecting northwest Europe with the U.K to decarbonize shipping, LBC Tank terminals said in a news release on Monday. Read More
Panama Canal 2025 Marine Fuel Sales Rise With Increased Vessel Traffic
Total marine fuel sales at the Panama Canal in 2025 were reported around 5.3 million metric tons, the highest annual total since 2019 when volumes totaled 5.35 million mt and predated the rollout of the 2020 lower sulfur standards, according to data released Tuesday by the Panama Maritime Authority. Read More
Maersk Gradually Resuming Operations via the Red Sea
Danish shipping company A.P Moller-Maersk is gradually resuming operations via the Suez Canal and the Red Sea providing security thresholds are met, a customer advisory note on Monday reported. Read More
2026 Preview: IMO Carbon Tax Delay Likely to Keep VLSFO, HSFO Demand Steady in New Year
While the global bunker fuel market continued to be shaped in 2025 by the war between Ukraine and Russia and risks to Red Sea shipping, those concerns paled in comparison to a delay in the push toward lower-carbon fuels. Read More
California-Bound Gasoline Cargoes Set for Arrival Amid Refinery, Pipe Work
More than 1 million barrels of gasoline are set to arrive in California within the next 10 days, as market participants navigate pipeline constraints in the Pacific Northwest and refinery maintenance events in Los Angeles. Read More
As Reliance on Imported Gasoline Rises, California Adapts to a ‘New World’
California's gasoline imports over the first 10 months of 2025 have already exceeded totals for any year since at least 2004, according to Energy Information Administration data. Read More
China-built US Vessels Exempted from Retaliatory Port Fees
Beijing has eased some of its moves to impose retaliatory fees on American vessels calling at Chinese ports, exempting ships built in China that are U.S.-owned or -operated from paying the special port fees. Read More
China to Levy Retaliatory Special Port Fees on US Vessels
China's Ministry of Transport said Friday it will begin imposing special port service fees on U.S.-owned and -operated vessels calling at Chinese ports starting Oct. 14 in response to a similar move by the U.S. Read More
Frontier Signs $31.3 Million Deal to Buy Marine CDR Credits from Planetary
The Frontier carbon dioxide removal buyers club will purchase 115,211 credits from Planetary, which mitigates emissions via ocean alkalinity enhancement, for $31.3 million. Read More
Falling River Rhine Levels in Europe Impact Plant, Terminal Operations
The river Rhine flowing from its source in Lake Constance, Switzerland, to the sea in the Amsterdam Rotterdam Antwerp (ARA) trading complex is one of Europe’s key transport arteries for all goods, but especially for petroleum products and chemicals. Read More
Freight Rates for Transatlantic Voyages Soar as Europe Pulls More US Diesel
Freight rates for MR tankers hauling U.S. diesel to Europe have tripled in two weeks amid supply concerns due to the escalating Iran-Israel conflict. Read More
Bunker Market Faces Challenging Future: 2050 Marine Energy
Tight margins, alternative fuel headwinds and increased competition for bunker volumes are just some of the challenges facing the current and future bunker market, according to Adrian Tolson, principal of 2050 Marine Energy. Read More