World maritime shipping in 2026
World maritime shipping in 2026 faces a capacity surplus in containers (fleet growing faster than trade), leading to weaker freight rates for carriers, while dry bulk might tighten due to low orders and new projects like Simandou. Key trends include ongoing geopolitical impacts (Red Sea, U.S. tariffs) increasing volatility, pressure for digitalization (AI, IoT), and a focus on sustainability, with potential for greater shipper leverage in containers and strong performance in sectors like crude tankers.
Chevron sends 11 tankers to Venezuela
A small fleet of ships booked by Chevron Corp. is sailing to Venezuela as the company emerges as the only exporter of the country’s oil following the ouster of President Nicolas Maduro by US forces. Chevron is poised to export more Venezuelan oil this month than last, with at least 11 ships scheduled to arrive in the Venezuelan government-controlled ports of Jose and Bajo Grande, according to preliminary data compiled by source. All eyes are on the Houston-based company to see if it will begin shipping out more Venezuelan crude after US President Donald Trump said he wanted “total access” to the country’s vast reserves. Chevron is the only Western firm allowed to produce and export crude oil in Venezuela amid American sanctions and it operates under a license granted by the Treasury Department.
The great escape?
For more than two weeks, the oil tanker formerly known as Bella 1 has been on the run. Now, as the vessel — hastily re-registered in Russia and renamed Marinera — pushes through winter seas in the North Atlantic, shipping and security circles are buzzing with a single question: will the United States finally move to seize it? The rumors picked up steam this week after CBS News reported that U.S. officials are quietly weighing a high-risk boarding operation as the vessel steams past the UK, far from Venezuelan waters but closer to friendly ports capable of handling a captured VLCC. The chase began December 20 when the U.S. Coast Guard attempted to board Bella 1 in the Caribbean. The tanker, sailing from Iran toward Venezuela to load crude, refused to comply and instead bolted into the open Atlantic. American officials later said the vessel was flying a false flag at the time, making it effectively stateless under international law — a key detail that could allow U.S. forces to board without the consent of any flag state.
Global’s first large LCO2/multi-gas carrier delivered to capital
The first large capacity vessel designed to support the efforts for the capture, transport, and storage or reuse of CO2 has been completed, marking a new segment for shipping. The vessel, which has a capacity of 22,000 cubic meters, is designed for charter operations and can move seamlessly between LCO2 transport and gas cargos, including LPG, ammonia, and selected petrochemicals.
Greece’s Capital Maritime Group launched the new operation known as Capital Clean Energy Carriers to develop the emerging market. It initially placed an order for two vessels in July 2023 with South Korea’s Hyundai Mipo Dockyard and later expanded it to four vessels. The ships were designed with an approximate length of 525 feet and a unique cargo system. Capital is saying the vessels will “stand out for their versatility and optionality as they adapt to shifting market dynamics.”
Korea formulates plans for trial arctic voyage with containership
South Korea is pushing forward with its plans to become the first Western-aligned country to launch regular trans-Arctic shipping. The government has set a priority on developing operations to take advantage of Russia’s Northern Sea Route as it looks to increase South Korea’s global trade.
The president of South Korea, Lee Jae-myung, has described the importance of building the country’s economic ties and looks to the Northern Sea Route as a critical advantage. South Korea looks to rival China, which has already launched seasonal service along the route and looks to expand operations in the coming year.
After President Lee announced the government’s support for developing Arctic shipping, the Ministry of Oceans and Fisheries was tasked with developing the plan. The acting Minister, Kim Sung-bum, outlined the plans during a press briefing in Busan on January 5. He detailed how the government looks to take the concept into a development program with the support of the ministry.
Chinese container ship gets mobile introduce track for drone fighters
China’s effort to adapt merchant ships into naval assets gained attention last month when a Chinese container feeder, the otherwise-unassuming Zhong Da 79, moored in downtown Shanghai with 60 missile launch tubes on deck. The quad-pack containerized launchers suggested a new ability to turn a normal boxship into an arsenal ship in short order, creating one more hull that could support air defense or surface warfare missions (within limitations). But Chinese defense engineers had more in store: Last week, social media images revealed that the vessel has now swapped out most of its containerized vertical launch cells for a very different equipment set – a truck-mounted catapult for launching combat drones.
Hong Kong court sentences oil tanker captain
A court in Hong Kong sentenced the master of a Chinese-registered oil tanker to 14 months in jail after he pleaded guilty to one count of endangering the safety of others at sea. The judge said the captain’s actions were “obviously too slow,” and it resulted in a collision with the fishing boat off Hong Kong that killed one person, while six others were rescued from the sea.
The oil tanker was transiting into Hong Kong waters around 0400 on November 17, 2024. According to the reports, the captain admitted he had chosen to take a shortcut into Hong Kong waters. Further, despite regulations, he failed to assign a dedicated lookout. He cited concerns for crew fatigue.