China’s shipping giants are bracing for a harsh new reality of persistent global volatility, as the closure of the Strait of Hormuz shifts from being a problem of transit delays to a hard volume shock. With the crucial energy corridor still paralysed as the US-Israel war on Iran drags on with no clear end in…
Image for representation purposes only Around 1,500 ships and nearly 20,000 crew members remain trapped in the Gulf due to the Iranian blockade of the Strait of Hormuz, according to the head of the UN’s International Maritime Organization (IMO). IMO Secretary-General Arsenio Dominguez made the remarks during the Maritime Convention of the Americas held in…
Iran accuses US of breaching ceasefire near Hormuz as CENTCOM says forces responded to Iranian attacks. Published On 8 May 20268 May 2026 Iran has accused the United States of violating their ceasefire by targeting two ships near the Strait of Hormuz and attacking civilian areas along the country’s southern coast, as tensions continue to…
Pro-government demonstrators chant slogans during their gathering at Enqelab-e-Eslami, or Islamic Revolution, square in Tehran, Iran, May 4. AP-Yonhap WASHINGTON — The U.S. military said it carried out strikes on Iranian military targets Thursday after an attack on three American destroyers in the Strait of Hormuz, while Tehran accused Washington of striking first. The violence…
Turkish Aerospace Industries (TAI) has designed a new production plant that will increase its annual manufacturing capacity by an additional 24 aircraft, the company’s deputy general manager announced on Thursday. Kaan project advances rapidly Speaking at Kocaeli University’s KOUBAK’26 congress, Uğur Zengin explained that while TAI has achieved low-volume mass production, its current assembly line—spanning…
Maersk, a leading shipping conglomerate, surpassed first-quarter profit predictions on Thursday despite maintaining its full-year earnings guidance. The company cited the ongoing Iran conflict as a factor clouding the prospect for freight rates and costs. Consequently, Maersk’s shares dropped by 3.3% at 0738 GMT, underperforming the generally stable Copenhagen benchmark index due to fears of…
Summary Tensions in the Gulf intensified after reports of a US military interception involving an Iranian-linked tanker near the Gulf of Oman, while former US President Donald Trump renewed pressure on Tehran ahead of a planned China visit. At the same time, global shipping firms warned that disruptions around the Strait of Hormuz are continuing…
US federal authorities have launched a review into a series of large oil futures trades made before key announcements by President Donald Trump concerning the Iran conflict, according to US media reports. The investigation focuses on transactions worth more than $2.6 billion linked to market movements surrounding the Strait of Hormuz, ceasefire decisions, and potential…
Danish shipping group Maersk beat first-quarter profit forecasts on Thursday and maintained its full-year earnings guidance, even as it warned that the Iran war had clouded the outlook for freight rates and costs. Shares in Maersk were down 3.3% at 7:38 a.m. GMT following the results, underperforming a broadly flat Copenhagen benchmark index amid worries…
Gold and silver prices moved higher on Thursday, gaining up to 1 per cent in early trade as investors turned to safe-haven assets amid global tensions. The rally was supported by rising crude oil prices, a weaker US dollar and continued uncertainty over the US-Iran peace talks, as per IANS. On the Multi Commodity Exchange…
