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Maritime News

MODEC Advances Construction of Brazil-Bound Gato do Mato FPSO

yesterday

MODEC has completed the forward hull section of floating production, storage and offloading (FPSO) vessel Gato do Mato, marking a key construction milestone for the Brazil-bound offshore production unit.The forward hull section, built at Sumitomo Heavy Industries Marine & Engineering's Yokosuka shipyard in Japan, has departed for China, where it will be integrated with the aft hull section before the vessel moves to the next stage of construction.The project is the first to use MODEC's Next Generation Hull (NGH) design and the first FPSO hull to be built in partnership with Sumitomo Heavy Industries Marine & Engineering under the company's multi-yard construction model

A.P. Moller Holding to Acquire Ocean Yield from KKR

yesterday

A.P. Moller Holding has agreed to acquire 100% of Oslo-based ship leasing company Ocean Yield from funds managed by investment firm KKR, expanding its maritime portfolio.Ocean Yield has interests in more than 70 vessels across several shipping segments, including gas carriers, LNG carriers, container ships, crude, product and chemical tankers, and dry bulk carriers.Under KKR's ownership since 2021, Ocean Yield has invested more than $3 billion to expand its portfolio, diversify its investment-grade customer base and nearly double its long-term contracted backlog to more than $5 billion, the companies said.The financial details of the transaction were not disclosed.

Container Ship Runs Aground Outside Iran-Approved Hormuz Route

2 days ago

Iran's state media said on Wednesday a foreign container ship ran aground in the Strait of Hormuz after entering shallow waters outside the shipping route designated by Iranian authorities.State media reiterated the Revolutionary Guards' warning that vessels should transit only through the corridor south of Iran's Larak island, which Tehran says is the sole approved entry and exit route for ships passing through the strait.(Reuters - Reporting by Dubai Newsroom; Editing by Alex Richardson)

Is Hormuz Half-Open or Half-Closed? Tanker Rates on the Mend

3 days ago

The world's oil tanker fleet is behaving as if the Strait of Hormuz is reopening — even as the waterway itself remains only partially navigable and politically contested. From ship tracking data to freight rates, the signals are clear: owners and charterers are moving early to position vessels for a return to Gulf exports.But the gap between expectation and reality remains wide, leaving the global oil shipping system in a fragile middle ground between crisis and recovery.The most immediate evidence of adjustment lies in real-time vessel movements. Tanker transits through Hormuz, which collapsed to a fraction of normal levels during the conflict, are starting to recover.

Asyad, CMA CGM Partner on $400M Logistics Terminal in Oman

3 days ago

Oman's Asyad Group and France's CMA CGM Group have signed a framework agreement to develop, manage and operate a multipurpose logistics terminal in Sohar, establishing a strategic partnership aimed at boosting maritime connectivity and opening new regional trade corridors.The agreement, signed during the official visit of Sultan Haitham bin Tarik to France, provides the framework for the development of a new $400 million multipurpose logistics terminal in Sohar.The companies said the project would enhance integrated logistics services and supply chain solutions, reinforce regional and international trade corridors

Maritime Reporter and Engineering News (June 2026)

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