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Iran and Israel accused each other of endangering commercial activity in sea lanes around the Gulf and the Red Sea at the UN's shipping agency on Wednesday, as their military conflict escalated.Iran's delegation told a session of the International Maritime Organization's security committee that Israel had in recent days extended its "unlawful attacks" to include petrochemical and gas infrastructure in Asalouyeh along Iran's Gulf coast."These actions directly endanger international maritime security and the global energy supply chain," Iran said in a statement to IMO delegates, which was livestreamed.

The world's largest car carrier making its maiden voyage is generally cause for celebration. But in the case of Chinese car manufacturer BYD and its mammoth new BYD Shenzhen -- a 16,300 dwt, 9200 CEU, LNG Dual-Fuel PCTC that measures 219.9 x 37.7m with a 9.2m draft -- the ship instead represents the flooding of a market with cheap electric vehicles (EVs).The world's largest car-carrying ship - with the equivalent of 20 football fields of vehicles - completed its maiden journey late last month to dock in Brazil's Itajai port.

Van Oord's new offshore wind installation vessel Boreas was officially christened on June 18 in Rotterdam. The event marked a milestone in Van Oord’s commitment to enhancing the energy transition. In addition, Van Oord announced that it had become the first marine contractor to receive approval on science-based targets for its decarbonization approach. The Boreas was christened by Ms. Carola Schouten, the mayor of Rotterdam. Guests and Van Oord employees gathered to celebrate this moment. Once it is operational, the Boreas will be the largest and most sustainable offshore wind installation vessel in the world.

The Front Tyne oil tanker was sailing through the Gulf between Iran and the United Arab Emirates on Sunday when just past 9:40 a.m. shiptracking data appeared to show the massive vessel in Russia, in fields better known for barley and sugar beets.By 4:15 p.m., the ship's erratic signals indicated it was in southern Iran near the town of Bidkhun, before later placing it back and forth across the Gulf.Mass interference since the start of the conflict between Israel and Iran has affected nearly 1,000 ships in the Gulf, according to Windward, a shipping analysis firm.

While global energy markets are not yet pricing in worst-case scenarios for the Israel-Iran war, oil tanker rates are providing a good real-time gauge of the escalating risks.Geopolitical risk has spiked following Israel's surprise bombardment of the Islamic Republic last Friday and Iran's retaliatory ballistic missile strikes, leading to a rally in global energy prices, with Brent crude rising 8% to roughly $75 a barrel.But markets and investors now appear to be in a holding pattern as the conflict unfolds, with possible scenarios spanning everything from an imminent ceasefire and strengthened nuclear deal to a joint U.S.