Xeneta Weekly Ocean Container Shipping Market Update: February 27, 2026
Peter Sand, Xeneta Chief Analyst:“The recent tariff ruling by the US Supreme Court will have knock-on impacts for ocean container shipping, but this will be nuanced and unlikely to cause a huge increase in frontloading demand, even though tariffs on some Chinese manufactured goods are lower today than a week ago.“The court ruling and political fallout actually increase uncertainty for many shippers. The TPM industry conference taking place in Long Beach next week is traditionally when long term freight contracts are negotiated…
US DOE Green Light Set to Make Corpus Christi Second Largest US LNG Scheme
The U.S. Department of Energy (DOE) has approved a 12% expansion in exports at Cheniere Energy’s Corpus Christi liquefied natural gas (LNG) terminal in Texas, authorizing additional shipments to non-free trade agreement countries.U.S. Secretary of Energy Chris Wright signed the order allowing exports of up to 0.47 billion cubic feet per day (Bcf/d) of natural gas as LNG from Trains 8 and 9 of the Corpus Christi Stage 3 Project, known as the Midscale Trains 8 & 9 Project.With the latest approval…
Seatrium Delivers Next-Gen WTIV Newbuild to Maersk Offshore Wind
Singapore-based Seatrium has delivered a next-generation wind turbine installation vessel (WTIV) to Maersk Offshore Wind, following the completion of sea trials and final readiness evaluations.The custom-engineered vessel is designed to install 15+ MW-class offshore wind turbines and is equipped with a 1,900-tonne main crane featuring a 180-metre hook height.The construction program included heavy-lift operations, full system integration and validation by international classification…
U.S. Coast Guard Takes Delivery of Fast Response Cutter Named for 9/11 Hero
The U.S. Coast Guard has accepted delivery of the 62nd Fast Response Cutter, USCGC Vincent Danz (WPC 1162), in Key West.Danz was serving in the New York City Police Department, Emergency Services Unit, ESU Truck 3, when he responded to the World Trade Center as part of a massive emergency response and was killed when the World Trade Center collapsed. He was posthumously awarded the New York City Police Department’s Medal of Honor for his heroic deeds. His actions that day embodied the Coast Guard's core values of honor…
Gunderson Marine & Iron’s McMurdo Docking Pier Arrives in Antarctica
The McMurdo Docking Pier, constructed by Gunderson Marine & Iron (GM&I) and designed by Glosten for the U.S. Army Corps of Engineers, has successfully arrived at McMurdo Station, Antarctica following a 9,159 nautical mile voyage across the Pacific Ocean and Southern Ocean.The pier, towed from the Pacific Northwest by TradeWinds Towing, was underway for 69 days, averaging 5.5 knots over the course of its journey. This total includes four days of route adjustments to avoid severe Southern Ocean weather systems.
BOEM Advances Leasing Process for Offshore California
The U.S. Bureau of Ocean Energy Management has announced its intent to prepare a programmatic environmental impact statement for proposed oil and gas lease sales in the Northern, Central and Southern California Planning Areas of the Outer Continental Shelf.This marks the initial step under the National Environmental Policy Act which initiates the process to analyze a representative California lease sale and inform decisions under the 11th National Outer Continental Shelf Oil and…
Rates for Mideast-Asia Oil Tanker at Highest Since 2020
The cost of hiring a supertanker from the Middle East to China exceeded $200,000 a day on Thursday for the first time since 2020 as the threat of U.S. attacks on Iran grows and buyers seek to lock in oil cargoes, according to data and market sources.Iran pledged to show flexibility at indirect talks with Washington on their longstanding nuclear dispute on Thursday, with Tehran under pressure to agree to a deal or face U.S. military strikes. The Strait of Hormuz runs along Iran's…
Easing US Sanctions Lightens Venezuelan Debt to Eni
Venezuela can now pay for gas received from Eni with oil thanks to a recent easing of U.S. sanctions, unlocking a situation that had left the Latin American country with a large debt to the Italian firm, Eni's CEO said on Thursday."That's really a big upside. Before we were stuck for almost one year. That created a build up in our outstanding," Chief Executive Claudio Descalzi said during a post‑results call.Descalzi, who confirmed that Venezuela owes the Italian group around $3 billion…
BIMCO Sees Strong Crude Tanker Market, Flags Recycling Risk
Low ship recycling activity could undermine tanker market strength in the coming years, BIMCO said in its February 2026 Tanker Shipping Market Overview & Outlook, even as crude tanker earnings are expected to remain firm in the near term.“We expect continued strong market conditions for crude tankers in 2026 and 2027 despite some weakening in 2027. On the other hand, we forecast that the product tanker market will weaken during both years as fleet and supply growth accelerates…
DP World Acquires Container Ship to Strengthen Red Sea-India Service
DP World has acquired a 5,000+ TEU container vessel, DP World Chennai, integrating it into its Red Sea Gulf–India service to strengthen trade links between India and the Middle East.The vessel has been deployed on the route with its maiden call at Jebel Ali, lifting DP Wordl Shipping Solutions’ owned capacity to over 6 million TEU and aimed at enhancing schedule reliability across key regional markets."The acquisition of DP World Chennai enhances our capability to offer consistent…
Watch: Salvors Refloat Grounded Barge in San Juan Harbor
The barge Defiant was refloated from the Castillo San Felipe del Morro shoreline in San Juan Harbor, Wednesday at approximately 2:22 a.m., just before high tide.Salvage crews and tugboat operators prepositioned three tugboats and completed all the preparations, including the pressurization of all cargo tanks, voids and compartments in the barge. The tugboat, Lobo Grande, successfully pulled the barge off the rocks with the assistance of the incoming tide.An earlier attempt on…
Tanker Carrying Fuel Likely Bound for Cuba Stops
A Hong Kong-flagged tanker carrying fuel likely bound for Cuba has halted navigation in the Atlantic Ocean, ship tracking data showed on Wednesday, a blow for the oil-thirsty Caribbean nation.The tanker Sea Horse loaded through a ship-to-ship transfer in the Mediterranean before departing towards the Caribbean Sea, according to monitoring service TankerTrackers.com. The vessel had been expected to arrive in Cuban waters later this week, according to its speed and trajectory.Hongkong Hangda Shipping LTD…
Cuba Kills Four on Florida-Based Speedboat that Opened Fire
Cuban forces killed four people and wounded six others aboard a Florida-based speedboat that entered Cuban waters on Wednesday and opened fire on a Cuban patrol, the Cuban government said at a time of heightened tensions with the United States.The wounded were evacuated and receiving medical attention, while the Cuban patrol commander was also wounded, Cuba's Interior Ministry said in a statement, adding that the matter was under investigation to clarify exactly what happened.The highly unusual incident took place as the United States has blocked virtually all oil shipments to the island…
EWM Welding Technology Sold in North America Through ESAB, Linde Collaboration
To offer U.S. fabricators access to advanced welding processes that improve performance and profitability, ESAB has collaborated with distributor Linde Gas & Equipment to sell welding technology from German manufacturer EWM in North America. Linde will feature EWM’s Titan XQ 500 puls, Titan XQ 400 puls and Phoenix XQ 505 puls multiprocess/pulsing welding systems at CONEXPO-CON/AGG 2026 in booth S63335, South Hall, Level 1.Manufacturers of construction, mining, aggregate and agricultural equipment especially benefit from the welding processes found in EWM machines…
OceanTools Celebrates Recent Project Successes
OceanTools is celebrating two projects that highlight their engineering expertise and versatility. From designing subsea pressure housings for a well-known space technology company to creating solutions for the world’s deepest oceans, their housings deliver reliability and resilience in the most extreme environments.A major U.S. space technology company approached OceanTools with detailed specifications, and they designed and built a highly intricate pressure vessel to meet their requirements.
Croatia Looking into Legality of Importing Russian Oil for Druzhba Pipeline
Croatia is assessing whether it can lawfully import seaborne Russian crude oil to supply to Hungary and Slovakia after the Druzhba pipeline supplying them via Ukraine was damaged, the European Commission said on Wednesday.Supply via Druzhba to Hungary and Slovakia, the only EU countries still importing Russian oil, was halted on January 27 due to damage which Kyiv blamed on a Russian drone strike."Croatia has communicated that it is assessing the situation, whether it can lawfully accept Russian crude at its port, both under the EU and U.S.
Saudi Arabia Increases Oil Product, Exports In Case of US Attack on Iran
Saudi Arabia is increasing its oil production and exports as part of a contingency plan in case any U.S. strike on Iran disrupts supplies from the Middle East, two sources familiar with the plan said on Wednesday.The Saudi government media office did not immediately respond to a request for comment on the plan.U.S. President Donald Trump has said he is considering a strike on Iran to pressure its leaders to agree a deal to curb Tehran's nuclear programme. The United States has assembled a large military force in the Middle East in recent weeks.Last year…
US Expands Sanctions Over Iranian Oil Sales, Weapons
The U.S. Treasury Department on Wednesday imposed sanctions on more than 30 individuals, entities and "shadow fleet" vessels it said enabled Iran's illicit petroleum sales, ballistic missiles and weapons production.Treasury's Office of Foreign Assets Control also targeted multiple networks that enable Iran's Islamic Revolutionary Guard Corps and Ministry of Defense and Armed Forces Logistics to secure the precursor materials and machinery required for ballistic missile and other weapons production…
Vega Reederei Picks Inmarsat’s NexusWave for Newbuild Fleet
Inmarsat Maritime, part of Viasat, has secured a contract with Vega Reederei to equip 10 new diesel-electric coaster vessels with its NexusWave bonded connectivity service.The agreement covers installation of NexusWave on the 89-meter, 3,800-deadweight-tonne short-sea general cargo ships, scheduled for delivery by July 2026. The deal also includes Fleet Secure Unified Threat Management (UTM) and Fleet Secure Endpoint cyber-security solutions.The vessels feature an innovative hull and propeller design aimed at improving fuel efficiency and reducing emissions.
ABS Opens U.S. Cruise Center of Excellence
ABS has opened the ABS Cruise Center of Excellence, its dedicated global hub for the cruise sector, located in Fort Lauderdale, FL. The center expands ABS’ local presence and provides cruise operators with direct access to industry-leading classification, risk management, compliance and performance software and engineering services.The new center brings together local experts specializing in classification, risk consulting, and sustainability, while serving as a strategic connection point to ABS’ worldwide technical resources and deep marine expertise.
Tennessee-Tombigbee Waterway Development Authority Elects Governor Tate Reeves as 2026 Chairman
The Tennessee-Tombigbee Waterway Development Authority has elected Governor Tate Reeves of Mississippi to serve as Chairman for 2026. Governor Reeves will lead the four-state interstate compact as it advances economic development, freight mobility, and recreation along the Tennessee-Tombigbee Waterway and the broader M-65 Marine Highway corridor.The M-65 Marine Highway is a federally designated inland waterway corridor extending from Paducah, Kentucky, to the Port of Mobile, Alabama…
Shipbuilder CEO Calls for a Sector Transition Towards Data-Driven Operations
Geert Schouten, CEO & owner of Shipbuilder:Why does more than half of all maritime projects run into trouble sooner or later? Documents, folders, version numbers…in our sector we still struggle with them every day. At countless shipyards and design offices, teams stumble over folder structures, endless searches for the right version, and long email chains. Is that real organization? It is organized chaos. And it costs us time, quality, and energy every single day. Did you know…
Jotun-Coated Vessels See 11.8m Tons of Avoided COâ‚‚ Emissions
Jotun, a leading manufacturer of marine coatings, reported an estimated 11.8 million tons of avoided CO₂ emissions for vessels coated with its products in 2025, an increase from 11.1 million tons from the year before. The result is verified based on an independent technical evaluation conducted by DNV.The verified avoided emissions is based on the average speed loss of the vessels included in the evaluation, compared to an industry benchmark referenced in ISO 19030. The evaluation…