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Commodity trader Mercuria is suing the Baltic Exchange, the world's top provider of benchmark shipping indices, over losses it said were caused by oil tanker pricing data that did not account for the effective closure of the Strait of Hormuz, a court filing showed.The U.S.-Israeli war with Iran, which began on February 28, has left hundreds of ships and 20,000 seafarers stranded inside the Gulf and unable to sail through the vital chokepoints with only a few ships willing to make the voyages daily.

Pakistan Navy to Add Advanced Chinese Submarines

22 hours ago

Pakistan's Navy will be getting a fleet of advanced Chinese submarines, a statement from the military and a government official said on Thursday, a move to strengthen Islamabad's maritime security as part of a growing defence cooperation with Beijing.The subs are in addition to Chinese-made J10-C fighter jets, which were war-tested for the first time during last year's Pakistan-India conflict.Pakistan and China are longtime allies and their defence cooperation has been enhanced since the conflict erupted.Islamabad says the Chinese-made planes were part of its air assault that downed India's French-made Rafale fighter jets last summer.

Royal Caribbean Cruise Slash Annual Profit Forecast as Fuel Costs Surge

yesterday

Royal Caribbean cut its annual earnings forecast on Thursday, even after reporting a better-than-expected quarterly profit, as surging fuel costs linked to the Iran war weighed on the cruise operator.Still, its shares jumped 6% as demand for its vacation destinations remained resilient. Bookings for high-margin Mediterranean itineraries, which had softened due to geopolitical tensions, have now rebounded and are running at a higher pace than the same time last year, the company said.Royal Caribbean's efforts of investing in diverse offerings such as private islands and new cruise itineraries, including "Star of the Seas", have helped draw seasoned cruisers and new customers alike.

Submarine, Shipbuilding Demand Power GD Q1 Growth

2 days ago

General Dynamics reported a solid start to 2026, with its maritime-focused Marine Systems segment delivering standout growth driven by continued demand for U.S. Navy shipbuilding programs.The company posted overall first-quarter revenue of $13.5 billion, up 10.3% year-over-year, but the strongest gains came from Marine Systems, where revenue jumped 21% to $4.34 billion.Operating earnings in the segment climbed even faster, rising 26.4% to $316 million, with operating margin improving to 7.3%.Marine Systems — which includes submarine builder Electric Boat and surface shipyards Bath Iron Works and NASSCO — continues to benefit from sustained U.S.

Japan-Linked Tanker Carrying Saudi Oil Passes Strait of Hormuz

2 days ago

Panama-flagged tanker Idemitsu Maru, carrying 2 million barrels of Saudi oil, crossed the Strait of Hormuz, LSEG shipping data showed on Tuesday, becoming the first Japan-linked crude tanker to do so since the Iran war began.Before the U.S.-Iran conflict broke out on February 28 and disrupted Middle East crude oil and liquefied natural gas supplies, Japan relied on the region for 95% of its oil imports, much of it coming via the Strait of Hormuz.The move comes as Japan's recent diplomatic efforts to safeguard energy supplies were disrupted by the war.Earlier in April, the Sohar LNG tanker co-owned by Japan's Mitsui O.S.K. Lines 9104.T and the Mitsui-owned LPG tanker 8031.

Maritime Reporter and Engineering News (April 2026)

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Maritime News

Baltic Exchange Sued Over Hormuz Freight Losses

Pakistan Navy to Add Advanced Chinese Submarines

Royal Caribbean Cruise Slash Annual Profit Forecast as Fuel Costs Surge

Submarine, Shipbuilding Demand Power GD Q1 Growth

Japan-Linked Tanker Carrying Saudi Oil Passes Strait of Hormuz