Maritime Vessels Directory

U.S. President Donald Trump will restore his "maximum pressure" campaign on Iran and drive its oil exports down to zero, a U.S. official said on Tuesday.Iran has repeatedly threatened to close the Strait of Hormuz for traffic as a retaliation for Western pressure. That would shut down the region's trade and lead to a spike in oil prices.The Streit of Hormuz & OilThe strait lies between Oman and Iran and links the Gulf north of it with the Gulf of Oman to the south and the Arabian Sea beyond.It is 21 miles (33 km) wide at its narrowest point, with the shipping lane just two miles (three km) wide in either direction.

China Dominates Maritime Markets in '24

8 hours ago

In what should be a surprise to no one, the Chinese maritime industry continued its dominance in 2024, with the nation’s vessel orderbook surpassing $123 billion. Data from VesselsValue reveals a strong year for both Chinese shipowners and shipbuilders, with significant investments across various vessel sectors.Chinese Ship Owning MarketAmong Chinese shipowners, China Merchants Shipping led the way with orders for 28 new vessels, worth an estimated $4.4 billion. This investment was primarily directed toward the Tanker and LNG sectors, each accounting for approximately 33% of the total orders, with additional investments in Bulk Carriers and Vehicle Carriers.

Hapag-Lloyd Closes $4B Financing for 24 New Container Ships

12 hours ago

Container shipping firm Hapag-Lloyd has secured long-term financing, in the amount of $4 billion, for 24 large container ships ordered in October 2024, with a combined capacity of 312,000 TEU.Around $900 million of the purchase price will be financed using the company’s own funds. A total of $500 million will be made available from two banks in the form of bilateral mortgage loans.Another part, in the amount of $1.8 billion, will be financed via three leasing structures, and $1.1 billion will be financed via a syndicated credit facility backed by the China Export & Credit Insurance Corporation (Sinosure).

Maritime Coastal Border Security and the Role of USCG R&D

yesterday

The United States' maritime coastal security poses a significant challenge due to the vastness of its coastline and the complexity of its maritime borders. According to the National Oceanic and Atmospheric Administration National Geodetic Survey there are approximately 95,000 miles of coastline. According to the Department of Homeland Security 2007 Transportation Systems publication there are “361 ports, and 3.3 million square miles of Exclusive Economic Zone (EEZ) to secure”. The country's maritime borders present a formidable task for security agencies.

Rubio Pressures Panama over Chinese Businesses Near Canal

2 days ago

U.S. Secretary of State Marco Rubio on Sunday warned Panama's President Jose Raul Mulino that Washington will "take measures necessary" if Panama does not immediately take steps to end what President Donald Trump sees as China's influence and control over the Panama Canal.Mulino, after the talks with the top U.S. diplomat in Panama City, signaled he would review agreements involving China and Chinese businesses, and announced further cooperation with the U.S. on migration, but reiterated that his country's sovereignty over the world's second busiest waterway is not up for discussion.

Maritime Reporter and Engineering News (December 2024)