Splash Wrap: A missile from Riyadh

Ongoing attacks in Hormuz and the Black Sea dominated Splash coverage once again this week – both maritime theatres of war expanding worryingly.

Another dangerous missile for tanker owners came from a conference in Saudi Arabia, where the US energy secretary was reported to have suggested the Trump administration was mulling easing sanctions on some shadow tankers, something that could have a noticeable impact on today’s sky-high freight rates. 

In other important news this week, India’s Aegis Logistics struck a deal to acquire 89.8% of Dubai-based Tristar for $809m, taking control of a global energy logistics group with a sizeable tanker and dry bulk shipping operation, while Splash Ports covered news that A.P. Moller Capital has lined up another port acquisition, agreeing to take full control of Singapore-based terminal operator Portek International from Japanese trading house Mitsui & Co.

Over at SplashTech, a survey of maritime technology bosses revealed growing frustration with software that traps data, demands duplicate entries and creates more work than it removes. KeelX chief executive Aristos Philis offered perhaps the simplest test for any technology purchase: “What work does this remove?”

This week’s Maritime CEO interview was with Elisabeth Braw, whose new book The Undersea War examines how merchant ships and their anchors have become potential weapons against the undersea infrastructure on which the global economy depends.

For our own news, there was an important addition to the Splash family this week with the launch of Splash Cruise, bringing our brand of independent maritime journalism to the rapidly expanding cruise sector. For readers not up to speed with this business, here’s a useful primer on how Wall Street views cruise for the coming couple of years. 

The remarkable ageing of the global merchant fleet amid a record earnings environment was one of the most read Splash articles this week and forms this week’s Splash Wrap podcast. 

Follow Us