Business

Uncertainty prompts shipping industry to seek answers on Hormuz route

IMO’s Arsenio Dominguez said it was verifying the recent announcement related to the reopening of the Strait of Hormuz.

Published

2 months ago

April 20, 2026

Admin

While cautiously welcoming Iran’s announcement that the Strait of Hormuz is open, shipping companies said they need further details, particularly on potential mine risks, before sending vessels through the Gulf’s main gateway.

Iran Foreign Minister Abbas Araghchi, announced in a social media post on 17 April, that in line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Republic of Iran.

US president Donald Trump reportedly welcomed the announcement that the Strait of Hormuz was fully open and ready for full passage.

However, Trump later said the US blockage of Iranian ports would continue in full force until the transaction with Iran is completed.

Then it was reported that the Islamic Revolutionary Guard Corps said it had again closed the strait, citing the ongoing US blockade of Iranian ports.

International Maritime Organization Secretary-General Arsenio Dominguez, said: “We are currently verifying the recent announcement related to the reopening of the Strait of Hormuz, in terms of its compliance with freedom of navigation for all merchant vessels and secure passage using the IMO established traffic separation scheme.”

International Chamber of Shipping Secretary General Thomas A. Kazakos said while the announcement is encouraging, significant uncertainty remains about what it will mean in practice.

“This development offers a cautious measure of reassurance to the global maritime community and, most importantly, to the seafarers who have been placed in harm’s way and confined on board their vessels for more than seven weeks,” he said.

“While this announcement is a positive step there is still much uncertainty around what it means in practice. Regardless it is essential that it marks the beginning of a broader and more durable return, beyond the current ceasefire, to freedom of navigation in one of the world’s most critical maritime corridors.

“An orderly and sustained return to normal transit through the Strait will be essential. This will require close coordination between the International Maritime Organization, regional states, naval authorities, and the shipping industry to ensure that vessels can transit safely.

“Above all, it is imperative that full freedom of navigation is respected by all parties in accordance with international law.”

In an urgent safety message, Jakob Larsen, Chief Safety and Security Officer of BIMCO, said the announcement by US President Trump that Hormuz is fully open was “inaccurate”.

“100 % credible reports indicate that status of mine threat in the Traffic Separation Scheme is not fully understood, and that shipping should consider avoidance of the area. In other words the TSS is NOT declared safe for transit,” he said in a social media post.

Photo credit: william william on Unsplash
Published: 20 April, 2026

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Singapore: Notice of intended dividend issued for Parakou Shipping Pte Ltd

Creditors of the company will have to submit proof of debt to the liquidators of Parakou Shipping by 17 June, according to Government Gazette notice.

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2 days ago

June 5, 2026

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A notice to declare the intended dividend of Parakou Shipping Pte Ltd to its creditors has been posted on the Government Gazette on Wednesday (3 June).

The following are the details of the notice of intended dividend:

Name of Company : Parakou Shipping Pte Ltd (In Creditors’ Voluntary Liquidation)
Address of Registered Office : c/o KordaMentha, 50 Raffles Place, 25-01 Singapore Land Tower, Singapore 048623
Last Day of Receiving Proofs (if not already lodged): 17 June 2026
Name of Liquidator : Cameron Duncan
Address : c/o KordaMentha Pte Ltd, 50 Raffles Place, #25-01 Singapore Land Tower, Singapore 048623

Photo credit: steve pb from Pixabay
Published: 5 June, 2026

LNG Bunkering

Chinese firms form pact for 20,000 cbm LNG bunkering vessel project

CM Energy Tech, Seacon Shipping Group and China Merchants Heavy Industry (Jiangsu) signed a joint venture agreement for 1+1 20,000 cubic meter LNG bunkering vessels.

Published

2 days ago

June 5, 2026

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CM Energy Tech Co Ltd, Seacon Shipping Group Holdings Limited and China Merchants Heavy Industry (Jiangsu) Co Ltd on Tuesday (26 May) signed a joint venture agreement for the construction of 1+1 20,000 cubic meter liquefied natural gas (LNG) bunkering vessels.

The parties also signed a shipbuilding contract for the first vessel, which will be constructed by China Merchants Heavy Industry.

The project combines CM Energy Tech’s access to the China Merchants Group ecosystem, Seacon Shipping Group’s expertise in ship management and operations, and China Merchants Heavy Industry’s shipbuilding capabilities. The partners said the initiative is intended to address the shortage of large-capacity LNG bunkering vessels in the Chinese market.

The newbuild LNG bunkering vessel will feature dual C-type independent cargo tanks and is designed with a boil-off rate of just 0.16% per day. It will also be capable of delivering LNG at a bunkering rate of up to 2,000 cbm per hour, enabling efficient refuelling of large LNG-fuelled vessels.

The vessel will be powered by Wärtsilä dual-fuel engines and will comply with IMO Tier III emissions requirements. The first vessel is scheduled for delivery in 2028.

The three companies said they plan to further expand cooperation across the LNG value chain, strengthen their presence in the marine energy sector and provide customers with integrated LNG bunkering services focused on safety, operational efficiency and lower carbon emissions.

Photo credit: David Yu from Pixabay
Published: 5 June, 2026

Methanol

India’s Agastya inks green methanol offtake agreement with SAR Group

Agastya Green Fuels and SAR Group will work together to enable green methanol storage, bunkering, and marine fuel infrastructure across Sri Lanka.

Published

2 days ago

June 5, 2026

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India’s clean energy conglomerate Agastya Group on Wednesday (3 June) said Agastya Green Fuels signed a long-term green methanol offtake agreement with Sri Lankan bunker supplier SAR Maritime Agencies, a SAR Group company, for the supply of 250,000 metric tonnes (mt) per annum of EU RFNBO RED III Compliant green methanol.

Agastya said the agreement establishes one of the largest green methanol supply partnerships in the Indian Ocean Region and marked a major step toward creating a new green maritime energy corridor connecting India and Sri Lanka.

The green methanol will be supplied from the Agastya Green Fuels Hub at Mulapeta Port, Andhra Pradesh, India, where Agastya is developing a green methanol export-oriented facility with a planned investment of USD 6 billion over the next six years. The facility is expected to produce 1 million mt per annum.

“Through this partnership, Agastya Green Fuels and SAR Group will work together to enable green methanol storage, bunkering, and marine fuel infrastructure across Sri Lanka, positioning Colombo, Hambantota, and Trincomalee as future clean-fuel hubs for global shipping,” the company said in a social media post.

“The Indian Ocean is emerging as the world’s next green fuel corridor. Agastya Green Fuels intends to be at its center,” said Shashi K Reddy Arjula, Founder and Group CEO of Agastya.

Photo credit: CHUTTERSNAP on Unsplash
Published: 5 June, 2026