News

On September 16, 2026, the Pinglu Canal officially opened to navigation. On the same day, the new Nanning–Can Tho, Vietnam international shipping service began its maiden voyage, marking the start of a new waterborne connection between Southwest China and Southeast Asia. For the shipping industry, however, the significance goes beyond the opening of another canal. For the first time, vessels of up to around 5,000 DWT can use a new...

The 18th BRICS Leaders’ Summit concluded in New Delhi, India. Centered on the theme of Building Resilience, Innovation, Cooperation and Sustainability, this summit marked a milestone meeting following BRICS expansion. The leaders adopted the New Delhi Declaration, finalizing multiple frameworks for economic and trade cooperation, financial coordination and cross-border connectivity. It was formally announced: China will take over the BRICS presidency and host the 19th BRICS Leaders’ Summit, ushering in...

The secondhand tanker market is running hotter than it has in years, with sales up more than 50% on last year. The standout buyer is South Korea's Sinokor Maritime, which has taken 73 VLCCs (very large crude carriers) off the market for close to $6 billion — roughly what the next eight largest tanker buyers spent combined. Prices have followed. A secondhand VLCC now costs about as much as building...

In 2026, international crude oil prices have declined, yet the actual fuel costs borne by shipowners and industrial enterprises in Southeast Asia have risen sharply. This market anomaly is reshaping business operations across Southeast Asian countries and restructuring the pricing trend of secondhand vessels. For bulk carriers operating across the Strait of Malacca, Vietnamese manufacturers relying on imported raw materials, and Indonesian traders waiting for palm oil loading, oil prices...