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No Malacca Bottleneck: Singapore, Indonesia Reaffirm Free Passage Even As Iran Moves To Impose Hormuz Fee
The Strait of Malacca is one of the world's most critical shipping chokepoints, linking the Indian Ocean with the South China Sea.
One tycoon makes millions from 'dark' journeys on a dangerous oil route while others feared Hormuz
Amidst the Persian Gulf war, the UAE secretly navigated its oil exports through the Strait of Hormuz using 'dark' ship transits. Korean shipping tycoon Ga-Hyun Chung's Sinokor Group played a pivotal role, leasing a significant portion of vessels for these risky "shuttle runs." This covert operation allowed the UAE to maintain pre-war export levels, capitalizing on surging oil prices and creating immense profits for Sinokor and its partners.
Iran exploring oil sales to Japan, buyers seek longer sanctions waiver, sources say
Iran is currently in discussions with Japanese companies regarding the potential resumption of oil sales, backed by a U.S. sanctions waiver that expires on August 21. Purchasers are advocating for a longer waiver and enhanced protections for shipping, following troubling occurrences in the Strait of Hormuz. Initial conversations are taking place, yet obtaining insurance remains a critical issue for Japanese refineries.
OPEC+ to boost crude output, but can it deliver and who will buy?
OPEC+ has boosted oil production quotas for the fifth consecutive month, raising questions about shipping capacity and buyer demand. While Middle East exports are recovering post-conflict, they remain below pre-war levels. The market anticipates a return to oversupply, contingent on stable shipping routes and China's re-entry into the market, which is expected as prices potentially fall.
Govt Withdraws Emergency Gas Supply Curbs As LNG Shipments Resume Via Strait of Hormuz
The move follows the restoration of LNG shipping routes via Strait of Hormuz
Vedanta among top 5 stocks with lowest price-to-earnings ratio. Check details
Repco Home Finance, LIC Housing Finance, Power Finance Corporation, Vedanta and The Great Eastern Shipping feature among the cheapest stocks by price-to-earnings ratio. Most are widely held by mutual funds and carry strong Value Research ratings.
Maersk places order for 1,000 shipping containers with DCM Shriram Group
Global shipping giant AP Moller-Maersk has ordered 1,000 more India-made shipping containers from DCM Shriram Group. Union Minister Sarbananda Sonowal unveiled the first such container, marking a significant step towards self-reliance in maritime manufacturing. This partnership is set to boost India's global supply chain presence and manufacturing capabilities, supported by government initiatives promoting domestic production.
Container manufacturing scheme aims for 10x rise in domestic capacity: Sarbananda Sonowal
India has successfully manufactured its first export-import shipping container for global giant A.P. Moller-Maersk, marking a significant stride towards self-reliance in maritime manufacturing. This achievement, a direct result of Prime Minister Modi's 'Make in India' vision, underscores growing international confidence in India's capabilities.
ACME Green Molecules, Mitsubishi Gas Chemical sign $1 billion green methanol supply deal
India's first global green marine fuel pact sees ACME Green Molecules partnering with Japan's MGC to supply 100,000 tonnes of green methanol annually, valued at $1 billion. This significant deal aims to bolster the shipping industry's shift to low-carbon alternatives, meeting stringent international environmental standards. The renewable fuel, produced in Odisha, will support the global transition to sustainable energy markets.
India and the European Union reaffirm commitment to strengthening cooperation in sustainable ship recycling
India and the European Union have reaffirmed their commitment to strengthening cooperation in sustainable ship recycling, with both sides expressing confidence over the progress made in facilitating the inclusion of Indian ship recycling facilities under the European Union Ship Recycling Regulation (EUSRR). During recent discussions between Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal and European Commissioner for Environment, Water Resilience and a Competitive Circular Economy Jessika Roswall, the two sides reviewed the ongoing audit and compliance process for Indian ship recycling yards seeking recognition under the EU regulatory framework.
Ship Runs Aground In Strait Of Hormuz: Report
Tankers and cargo vessels are seen in the Gulf of Oman, along shipping routes linking the Strait of Hormuz and the Arabian Sea on June 16.
LPG Cylinder Price: Commercial LPG down Rs 183.50 from July 1, first cut in 2026
LPG Price Cut: Commercial LPG cylinder prices have seen a significant reduction of Rs 183.50, effective July 1, 2026. This marks the first price cut for 19-kg cylinders this year, bringing relief to businesses. Domestic cylinder rates, however, remain unchanged. The price drop is attributed to easing global crude oil prices following a ceasefire extension between the US and Iran, impacting key shipping routes.