J Ocean Heavy Industries has signed an LOI to build four 114,000-ton tankers for Oceania shipowners while progressing with the acquisition of Gunsan Shipyard.
Petrobras has ordered four MR1-class tankers from Estaleiro Rio Grande under a $427 million contract for coastal fuel transport in Brazil.
Suez Canal Authority will raise temporary transit surcharges from 15 July, increasing costs for tankers, gas carriers, bulkers and containerships.
More than 1,000 vessels remain stranded across the Gulf as restricted Hormuz traffic drives war risk premiums sharply higher.
BIMCO said the global shipping orderbook reached 191.0m cgt at the end of the first quarter of 2026, equal to 17% of the world fleet and the highest ratio since 2011. First-quarter contracting rose 40% year-on-year, led by tanker orders and a rebound in LNG tanker contracting, while yard lead times and engine supply constraints remained key issues.
The Strait of Hormuz closure halted at least 150 tankers, paused Gulf terminal operations and forced carriers to suspend bookings and reroute vessels, driving delays and higher war-risk costs.
