Maritime Vessels Directory

The LPG-laden tanker MV Falcon was on fire and adrift on Saturday off the coast of Yemen, after it reported an explosion that forced members of its crew to abandon the vessel, the European Union's naval force Aspides said in a statement.The cause of the explosion was unclear but most likely an accident, according to initial indications, Aspides said. It added that at least 15% of the Cameroon-flagged vessel was on fire.Due to the risk of further explosions, since the tanker was fully loaded with liquefied petroleum gas, Aspides advised vessels in the area to keep a safe distance from the carrier."The fire onboard is increasing," Aspides said in a statement.

Chinese Sanctions on Hanwha Put $150B South Korea-US Shipbuilding Plan at Risk

3 days ago

China's sanctions on U.S.-linked units of shipbuilder Hanwha Ocean threaten to impact ambitious plans for shipbuilding cooperation between Seoul and Washington by disrupting supplies of Chinese equipment and materials, officials in Seoul said on Friday.Beijing announced the sanctions on Tuesday as the U.S. and China began charging additional port fees on each other's vessels, in the latest exchange in a protracted trade war ahead of a planned meeting of the two countries' leaders.South Korea has vowed to "Make America Shipbuilding Great Again" with a pledge of $150 billion of investment in the sector to help U.S.

South Korea’s HMM Places $2.8B Order for 14 New Ships

3 days ago

South Korea’s largest shipping company HMM has ordered 12 new 13,000 TEU-class eco-friendly container ships from Korean shipbuilders, as well as two very large container ships, for a total of $2.82 billion.The 12 containerships will be built by HD Hyundai Heavy Industries and Hanwha Ocean, and all of them will be LNG-fueled vessels, HMM said.The details for the other two very large containerships, reportedly ordered by the company, have not been disclosed.According to the company, this large-scale order is the company’s first such investment since 2018.In 2018, HMM placed a $2.

Russia’s 44 Tanker Shadow Fleet Takes Hit as UK Imposes Sanctions

3 days ago

Britain targeted Russia's two largest oil companies, Lukoil and Rosneft, and 44 shadow fleet tankers on Wednesday in what it described as a new bid to tighten energy sanctions and choke off Kremlin revenues.Lukoil and Rosneft were designated under Britain's Russia sanctions laws for what London described as their role in supporting the Russian government. They are subject to an asset freeze, director disqualification, transport restrictions, and a ban on British trust services.The two companies were considered strategically significant to the Kremlin, the government said, adding that their activities were of economic importance to Russia

China’s Move Against Hanwha Units Seen as Warning, No Immediate Impact

5 days ago

China's sanctions against five U.S.-linked affiliates of South Korean shipbuilder Hanwha Ocean are seen as a warning gesture without immediate impact, and Beijing is unlikely to gain much by expanding them, analysts said on Wednesday.The move, announced on Tuesday when the U.S. and China began charging additional port fees targeting each other's vessels, comes ahead of an expected meeting between U.S. President Donald Trump and Chinese leader Xi Jinping in late October to resolve the protracted trade war between the world's two largest economies.China's commerce ministry banned transactions and cooperation with Hanwha Ocean's U.S.

Maritime Reporter and Engineering News (October 2025)