The announcement from US President Donald Trump about selling “political risk insurance and guarantees for the Financial Security of all maritime trade, especially energy, traveling through the Gulf” has yet to be explained in full. Depending on the details of the...

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Stamatis Tsantanis, Chairman & CEO of global shipping company Seanergy Maritime and United Maritime says the closure of the Strait of Hormuz has already led to a four to five times increase in freight rates for tankers and significant shortages in the global...

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Container shipping rates from the west coast of India to the Middle East hit record highs, with twenty-foot equivalent unit rates up 750% and forty-foot equivalent unit rates up 909% as of March 2, driven by the war in the Middle East. Platts, part of S&P Global...

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IBIA’s thoughts are with all our members, seafarers and shore-based personnel affected by the recent developments in the Gulf region. We join our fellow international industry associations in expressing concern and in calling for the protection of all those who...

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The International Shipsuppliers & Services Association (ISSA) is deeply concerned at the escalation of hostilities in the Middle East and shares the worries of the International Maritime Organization over the attacks on seafarers and the loss of life in the...

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Performance Shipping Inc., a global shipping company specializing in the ownership of tanker vessels, announced that, through two separate wholly-owned subsidiaries, it has signed two shipbuilding contracts with China Shipbuilding Trading Co. Ltd. (“CSTC”) and...

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