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The U.S. Department of Transportation's Maritime Administration (MARAD) and CORE POWER (US) Inc. signed an agreement to accelerate the commercial, industrial, and regulatory pathways for U.S.-flagged nuclear-powered commercial ships. Fueled by small modular reactor (SMR) technology, this first-of-its-kind partnership will advance the President Trump's agenda to strengthen American shipping and secure energy dominance."President Trump has made it clear that American energy dominance and maritime strength go hand in hand," said Maritime Administrator Stephen M. Carmel. "This framework ensures that the United States leads the world with a secure U.S.-flagged fleet.

A tanker was struck by an unknown projectile 63 nautical miles west of Saudi Arabia's port city of Yanbu, leading to a fire on the vessel's main deck, the United Kingdom Maritime Trade Operations said on Monday.The UKMTO said all crew were safe and accounted for with no reported environmental impact.Yanbu is Saudi Arabia's main Red Sea oil port, where millions of barrels a day are loaded, and has become the main route out for Saudi oil skirting the Strait of Hormuz, which has been blockaded by Iran.Shipping from Yanbu has itself faced disruption since Yemen's Iran-aligned Houthis declared a blockade on Saudi-linked vessels in the Red Sea last month.

Venezuela's dilapidated oil port terminals are imposing a de facto export cap on the country's resurgent crude production, with tankers having to wait up to 30 days to load because of ageing infrastructure, power outages and quality issues, according to shipping data, sources and documents.The delays are putting roadblocks on a U.S. plan to quickly boost Venezuela's oil exports following a flagship pact with global trading houses. The fight for infrastructure looks likely to intensify as many partners of state energy firm PDVSA get ready to market their share of output independently under new contract terms.

Fincantieri and Viking have signed contracts for two new cruise ships, extending a long-running shipbuilding relationship that now encompasses 28 vessels.The ships result from Viking exercising options announced in April 2025 and will be constructed at Fincantieri’s Ancona shipyard in Italy, with both vessels scheduled for delivery in 2032. Fincantieri classified the value of the agreement, which remains subject to financing and other conditions, as “large.”Designed for the small cruise ship segment, each newbuild will measure approximately 54,300 gross tons and accommodate 998 passengers in 499 cabins.

Oil prices fell more than $2 a barrel on Wednesday as talks between Iran and Oman revived hopes that the Strait of Hormuz could reopen and remove shipping constraints affecting supply in the key Middle East region.Brent crude futures LCOc1 fell $2.30, or 2.6%, to $86.28 a barrel by 0447 GMT, earlier dropping to their lowest since August 13. U.S. West Texas Intermediate crude futures CLc1 were down $2.08, or 2.53%, at $80.29, earlier sinking to their lowest since August 10.Both benchmarks fell more than 3% on Tuesday.