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20 May 2025
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May 20, 2025Hellenic Shipping News
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20/05/2025
Iran exported $67 billion worth of oil in the Iranian calendar year 1403 (ended on March, 20, 2025), marking its highest oil revenue in the past decade, according to estimates by the Central Bank of Iran (CBI).
Data released by the CBI shows Iran’s oil exports have fluctuated significantly in recent years. In 1399 (March 2020–March 2021), exports had dropped to $23 billion amid intensified U.S. sanctions. Since then, Iran’s oil revenues have steadily climbed:
• 1400 (March 2021–March 2022): $38 billion
• 1401 (March 2022–March 2023): $55 billion
• 1402 (March 2023–March 2024): $56 billion
• 1403 (March 2024–March 2025): $67 billion
The latest figure represents a sharp rebound and underscores Iran’s increased crude shipments despite ongoing international restrictions.
Iran’s oil production has been on an upward trend in recent months despite U.S. sanctions and geopolitical pressures. The country managed to increase its output steadily throughout 2024, adding more than 370,000 bpd compared to the previous year. The rise in production has been supported by the government’s efforts to boost investment in upstream projects and secure alternative trade routes for its crude exports.
In addition to increasing output, Iran has been working to expand its oil sales, particularly to Asian markets, where demand remains strong. China continues to be a key buyer of Iranian crude, while other regional customers have also shown interest in maintaining supplies despite Western pressure.
The resilience of Iran’s oil industry has been evident even in the face of tightening restrictions. The country has utilized a mix of official and unofficial channels to sustain its exports, ensuring that oil revenue remains a crucial source of foreign exchange for the economy.
Source: Tehran Times
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Orlen Aims To Keep Supplying 100 Million Cubic Meters Of Gas To Ukraine Per MonthPolish refiner Orlen PKN aims to keep supplying 100 million cubic metres of gas per month to Ukraine, its CEO Ireneusz Fafara said on Thursday.
“We have delivered 430 million cubic meters of gas to our Ukrainian partner (in 2025) through our gas ports, and we hope to maintain… 100 mcm every month,” he told a press conference.
Fafara said Orlen and Ukrainian state energy firm Naftogaz will discuss a potential long-term contract for supplies to Ukraine on Friday.
Earlier this year sources told Reuters Orlen aimed to sell 10 cargoes of LNG to Ukraine this year, as Kyiv seeks to fill gas storage sites ahead of winter.
Source: Reuters
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22 August 20251 min readOrlen Aims To Keep Supplying 100 Million Cubic Meters Of Gas To Ukraine Per Month
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Ad Ports Group Posts $318 Million Ebitda For Q2 2025This was primarily driven by the Ports, Economic Cities & Free Zones (EC&FZ), and Maritime & Shipping clusters.
Group EBITDA rose 9 per cent YoY to AED 1.17 billion ($318.5 million) with a 24.2 per cent margin, while profit before tax increased 5 per cent to AED 519 million ($141 million).
Net profit was flat at AED 445 million ($121 million) due to higher taxes, with EPS steady at AED 0.07 ($0.019).
Operating cash flow nearly doubled to AED 1.14 billion ($310 million), supporting positive free cash flow.
Capex reached AED 928 million ($267 million), with intensity dropping to 19 per cent of revenue, mainly directed at port and shipping assets.
READ: AD Ports, MBME to advance digital TradeTech solutions
Container throughput at the ports cluster grew 17 per cent YoY, and general cargo volumes rose 13 per cent.
Khalifa Port’s CMA Terminal, which began commercial operations in early 2025, reached a quarterly utilisation rate of 80 per cent.
In EC&FZ, land leases reached 1.6 square kilometres year-to-date (YTD), with staff accommodation utilisation increasing to 80 per cent from 63 per cent in Q2 2024.
The Maritime & Shipping cluster saw container feeder volumes increase 34 per cent YoY, and its vessel fleet expanded to 34 bulk, multipurpose, and RoRo ships, up from 28 in Q2 2024.
The marine services fleet grew to 74 vessels from 65 a year earlier.
Despite ongoing geopolitical challenges, including the Red Sea crisis and shifting global trade flows, the Group maintained operational resilience and capitalised on alternative routing demand.
In Egypt, a 50-year agreement was signed with the Suez Canal Economic Zone to develop a 20 square- kilometres (km²) logistics and industrial hub near East Port Said.
The Group also advanced its maritime services in Bahrain through its Noatum Maritime-ASRY joint venture.
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13 August 20252 min readAd Ports Group Posts $318 Million Ebitda For Q2 2025
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Adani Ports Revenue Hits $1.09 Billion In Q1 2025Revenue rose 21 per cent YoY to ₹9,126 crore ($1.09 billion). EBITDA grew 13 per cent to ₹5,495 crore ($659 million).
Net profit increased 7 per cent to ₹3,311 crore ($397 million), excluding ₹141 crore ($17 million) in dividend income booked in Q1 last year, now due in Q2.
Logistics revenue doubled YoY to ₹1,169 crore ($140 million), driven by expansion in trucking and international freight services.
Marine revenue rose 2.9x YoY to ₹541 crore ($65 million), supported by a fleet of 118 vessels.
READ: Adani Krishnapatnam Port logs highest ever dry cargo volume
APSEZ began operations at the fully automated Colombo West International Terminal (CWIT) and an export terminal at Dhamra Port.
CWIT, developed under a 35-year BOT agreement, is expected to handle around 3.2 million TEUs annually at full capacity.
Dhamra Port began building two new berths to boost capacity to 92 MMT and secured a liquid cargo contract.
Vizhinjam Port hit full capacity in its ninth month and has launched Phase 2 construction.
READ: Adani Gangavaram Port sets coastal cargo handling record
Container rail volume rose 15 per cent YoY to 179,479 TEUs. GPWIS cargo increased 9 per cent to 6.05 MMT.
Mundra Port set national records, handling 3,234 TEUs and loading 23 double-stack rakes in a single day.
Haifa Port’s cargo volume grew 29 per cent YoY, with containers up 25 per cent and other cargo up 38 per cent. It posted its highest quarterly revenue and EBITDA since acquisition.
Ashwani Gupta, CEO of Adani Ports and Special Economic Zone Ltd, said: “This quarter’s 21 per cent revenue growth is anchored by extraordinary momentum in our Logistics and Marine businesses, which grew 2x and 2.9x respectively.
“These are no longer ancillary verticals – they are reshaping the contours of our future-ready ports ecosystem. Coupled with cargo growth and market share gains in the domestic ports business, and higher revenue and improving EBITDA in international ports, we remain firmly on track to meet our FY26 guidance.”
Last month, Adani Krishnapatnam Port Limited (AKPL) handled 5.85 MMT of cargo in June 2025, its highest recorded monthly volume.
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11 August 20252 min readAdani Ports Revenue Hits $1.09 Billion In Q1 2025
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Cosco Seeks At Least 20% Stake In $23 Billion Panama Canal Ports Deal, Ft Reports-China’s state-owned shipping giant Cosco aims to secure at least 20%-30% stake in a $23 billion ports deal involving strategic assets in the Panama Canal, as Beijing moves to renegotiate the terms of a sale previously praised by U.S. President Donald Trump, the Financial Times reported on Friday.
Reuters could not immediately verify the report.
Source: Reuters
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09 August 20251 min readCosco Seeks At Least 20% Stake In $23 Billion Panama Canal Ports Deal, Ft Reports
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Rail Freight Traffic Moved More Than 1.2 Million Tonnes In The First Half Of The Year At Valenciaportin Port News
08/08/2025
So far this year, Valenciaport has recorded the movement of 1,221,014 tonnes of goods by rail, which translates into 131,795 TEUs handled by rail. These figures represent more than 8% of the total land traffic passing through the Port of Valencia.
According to figures for the last six months of the year, between January and June, Valenciaport trains transported 12% more containers than in the same period last year. This percentage rises to 18% if we take into account the number of tonnes. The number of direct entries and exits to the port facilities has also grown and now stands at 26,382 TEUs and 242,968 tonnes.
A total of ten companies manage rail traffic from the Port of Valencia to the logistics areas of Madrid, Valladolid, Bilbao and Zaragoza, where most of the goods arriving via rail-port traffic originate.
Source: Port Authority of Valencia
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08 August 20251 min readRail Freight Traffic Moved More Than 1.2 Million Tonnes In The First Half Of The Year At Valenciaport
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Cosco Eyes Stake In $2.3 Billion Panama Canal Port ProjectAccording to Reuters, the investment is linked to a plan by a local Panamanian firm, which aims to construct port facilities on both the Atlantic and Pacific sides of the canal.
The project reportedly includes a RoRo terminal, container handling infrastructure, and logistics services.
READ: Panama tightens shipping registry over “dark fleet” concerns
Panama’s maritime authority has allegedly approved the project, pending final government review.
Reuters revealed that a COSCO representative told the Financial Times (FT) the company is still evaluating the opportunity.
The development comes amid heightened US scrutiny of Chinese involvement in critical infrastructure in the Americas.
In April, COSCO Shipping rejected US allegations of misconduct in China’s shipbuilding and logistics sectors, as well as the measures introduced to limit China’s influence in the industry.
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08 August 20251 min readCosco Eyes Stake In $2.3 Billion Panama Canal Port Project
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Voc Port Handles 15 Million Tonnes Of Cargo This FiscalThe V.O. Chidambaranar Port crossed the 15-million tonne mark in cargo handling in this financial year on August 3. This milestone has been achieved 11 days ahead as compared to the previous financial year.
An official statement said the port had handled 2,98,107 TEUs of containers up to August 3 this financial year, registering a growth of 9.75% compared to the 2,71,620 TEUs handled during the corresponding period of the previous financial year.
The major commodities that contributed to this achievement include coal, limestone, salt, rock phosphate, edible oil, and construction material. The rapid growth in exports from Tiruppur, Coimbatore, and Karur has increased the container volumes.
The operationalisation of North Cargo Berth-III for handling bulk cargo, which was recently dedicated to the nation by Prime Minister Narendra Modi on July 26, is another major contributor to the port’s improved performance.
The port’s primary hinterland has been witnessing rapid industrialisation with the proposed man-made fiber factory by a Singapore-based firm, footwear manufacturing facility to be set up by a South Korean firm in Tirunelveli disrtict coupled with new investments in defence and space technology. Start-ups too augur well for VOC Port’s cargo handling.
“Hence, the cargo handling of VOC Port in near future will scale greater heights,” said Port Chairman Susanta Kumar Purohit, who congratulated all stakeholders and trade partners for their continued support and contribution towards this significant achievement, the statement said.
Source: The Hindu Bureau
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07 August 20252 min readVoc Port Handles 15 Million Tonnes Of Cargo This Fiscal
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Rs 2,528 Crore Project: Cabinet Approves 104-Km Freight Corridor Connecting Vadhavan Port With Mumbai-Nagpur E-WayThe Maharashtra Cabinet on Tuesday gave its approval for the construction of a 104.8-kilometre high-speed freight corridor connecting the upcoming Vadhavan Port in Palghar district with Bharvir in Nashik district, linking it to the Mumbai–Nagpur Expressway, officially named the Hindu Hridaysamrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg.
The corridor, proposed as a strategic infrastructure link under the state’s rapid logistics expansion plan, is expected to save nearly 79 km in travel distance and reduce commute time between the port and the expressway from 4–5 hours to just 1–1.5 hours.
The project will be developed by the Maharashtra State Road Development Corporation (MSRDC). The Cabinet has approved a total outlay of Rs 2,528.90 crore, including a Rs 1,500 crore loan from HUDCO (Housing and Urban Development Corporation). The corridor is to be completed within three years.
Currently, cargo from Vadhavan must travel via the Vadodara–Mumbai Expressway, covering around 183.48 km to reach the Samruddhi corridor via Bharvir–Amne. With the new expressway, the distance will be reduced to 104.898 km, saving 78.582 km, officials said.
The proposed expressway will pass through Dahanu, Vikramgad, Jawhar and Mokhada in Palghar district, and Trimbakeshwar and Igatpuri in Nashik district, offering a direct, fast-moving logistics link between the state’s western coast and central and eastern Maharashtra.
The Vadhavan Transshipment Port, being developed under the Sagarmala initiative by Vadhavan Port Project Ltd, is expected to serve as a major international cargo hub. To complement this, the National Highways Authority of India (NHAI) is currently constructing a 32-km highway from the port to Tawa on National Highway 48, which will integrate into the larger freight corridor.
At present, heavy cargo vehicles must take a longer detour from Bharvir–Amne to reach the Vadodara–Mumbai Expressway, resulting in additional travel of nearly 82 km. The new corridor is expected to eliminate this inefficiency, enhancing fuel savings and turnaround times for goods transport.
Officials said the corridor is being planned with future traffic volumes in mind. With anticipated high-volume freight movement from Vadhavan Port, particularly toward Vidarbha, Marathwada, and North Maharashtra, the expressway will play a vital role in decongesting existing routes and facilitating regional economic development.
“The expressway will benefit a wide range of stakeholders — from large and medium-scale industries to agricultural processing units, educational institutions, and IT parks in Palghar and Nashik. It will also help improve market access and generate local employment,” an MSRDC official said.
The Cabinet meeting was chaired by Chief Minister Devendra Fadnavis, who is overseeing major infrastructure and connectivity initiatives in the state. Officials noted that the new corridor will function as a key logistics backbone, enabling affordable, fast, and efficient cargo transport from India’s western maritime gateway to its heartland.
Source: Express News Service
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07 August 20253 min readRs 2,528 Crore Project: Cabinet Approves 104-Km Freight Corridor Connecting Vadhavan Port With Mumbai-Nagpur E-Way
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$133 Million Integrated Ship Refuelling Centre To Be Established At Saudi Arabian PortThe Saudi Ports Authority (Mawani) and the National Petroleum & Petrochemical Tank & Pipelines Company (Petrotank) will develop an integrated ship refuelling centre at King Fahad Industrial Port in Yanbu.
It will be developed on a 110, 700 m2 site with a total investment value of $133 million over a period of 20 years.
The project aligns with Mawani’s efforts to enhance the competitiveness of Saudi Arabian ports by developing fuel and oil infrastructure essential for delivering top-notch logistical services, handling increased ship traffic, and strengthening regional and global port competitiveness.
It is also in line with the aims of the National Transport and Logistics Strategy, which wants to invest over $266.7 billion by 2030 and establish Saudi Arabia as a major logistics hub in the world.
Given its partnership with Mawani, Petrotank operates a fuel station as well at the King Fahad Industrial Port in Yanbu, having 8 tanks and a total storage capacity of 114000 m3 and plays an important role in supporting ship operations.
The new centre will offer fuel storage and bunkering services to attract more ships and boost traffic and the economy, supporting Saudi Vision 2030’s aim to strengthen the logistics sector.
King Fahad Industrial Port in Yanbu is a major industrial hub on Saudi Arabia’s Red Sea coast and is known for its ability to manage diverse cargoes like petroleum and refined products.
It spans 6.8 km2 and includes 34 berths, 10 terminals with a total handling capacity of up to 210 million tonnes.
Saudi Arabia’s logistics sector is attracting global investment, powered by incentive schemes and regulatory reforms, aligning with the Vision 2030 agenda.
It is pushing for economic diversification, and strengthening its transportation and logistics infrastructure has become a main pillar of the program.
Saudi Arabia also introduced 15 new incentives under the Authorised Economic Operator program to boost the competitiveness of its exports.
Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
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07 August 20253 min read$133 Million Integrated Ship Refuelling Centre To Be Established At Saudi Arabian Port
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Israel’S Leviathan Signs $35 Billion Natural Gas Supply Deal With EgyptIsrael’s Leviathan natural gas field has signed the largest export agreement in the country’s history, worth up to $35 billion to supply gas to Egypt, NewMed (NMWDp.TA), one of the partners in the field, said on Thursday.
The deal should ease an energy crisis in Egypt, which has spent billions of dollars on importing liquefied natural gas since its own supplies fell short of demand.
Egypt’s production began declining in 2022, forcing it to abandon its ambitions to become a regional supply hub. It has increasingly turned to Israel to make up the shortfall.
Exports from Leviathan were halted during a 12-day war between Israel and Iran in June for security reasons, but have since resumed.
Under the deal announced on Thursday, Leviathan, off Israel’s Mediterranean coast, with reserves of some 600 billion cubic metres, will sell about 130 bcm of gas to Egypt through 2040, or until all of the contract quantities are fulfilled.
The gas is pumped via pipelines, which makes it cheaper than LNG, the cost of which is inflated by the super-cooling required to make it a liquid that can be transported by ship and regasifying it when it reaches its destination.
“It’s much, much, much, much better, like dramatically better, than any LNG alternative, and it will save billions of dollars to the Egyptian economy,” NewMed CEO Yossi Abu told Reuters in an interview on Thursday.
Egypt’s Ministry of Petroleum, which is also responsible for energy imports, did not immediately respond to a request for comment.
BIGGER AND BIGGER
Under Thursday’s deal, Leviathan in a first stage will supply Egypt with 20 bcm of gas starting in early 2026 after the connection of additional pipelines.
It will export the remaining 110 bcm in a second phase that will begin after completion of the Leviathan expansion project and the construction of a new transmission pipeline from Israel to Egypt via Nitzana in Israel, NewMed said.
The initial volumes could lower Egypt’s LNG imports by roughly 1-2 bcm in 2026 and reduce the strain on global LNG markets, said Rabobank energy strategist Florence Schmit.
“If the full 130 bcm promised under the agreement will ever materialise, Egypt will likely not have to rely on LNG imports anymore – although those volumes are still a long way off,” Schmit said.
Israeli gas accounts for about 15-20% of Egypt’s consumption, data from the Joint Organisations Data Initiative shows.
“We’ll increase the flow to Egypt practically early next year, from the 4.5 bcm to 6.5 bcm. Then once we finish in 2029 the second phase of Leviathan, we will increase that to 12 bcm a year,” Abu said.
Egypt has been struggling to get its gas production up. According to latest figures, production reached 3,545 million cubic meters in May, compared to 6,133 mcm in March 2021 – a decline of over 42% in less than five years – according to the Joint Organisations Data Initiative (JODI).
The Leviathan reservoir began supplying Egypt shortly after production began in 2020. The field, operated by Chevron CVX which also holds a 40% stake, also supplies Jordan.
Leviathan’s expansion, which would cost around $2.4 billion, should allow for production and supplies within Israel and to its neighbours through 2064, NewMed said.
Source: Reuters
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07 August 20253 min readIsrael’S Leviathan Signs $35 Billion Natural Gas Supply Deal With Egypt
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Ades To Acquire Shelf Drilling In $380M DealSaudi oil and gas driller ADES has made a NOK 3.9bn ($380m) offer to buy all issued and outstanding shares of Dubai-based Shelf Drilling.
The two parties signed an agreement for a recommended offer, under which ADES will acquire the Shelf through a cash merger. It will be financed through ADES’s available credit facility.
At completion, all of Shelf shares will be cancelled for a consideration in cash of NOK 14.00 per share ($1.36) to its shareholders according to a plan of merger. The share price is a 62% premium to the Shelf Drilling share closing price of NOK 8.64 ($0.84) on August 4. The transaction is expected to close in the fourth quarter of 2025.
Following completion of the transaction, Shelf Drilling will be wholly owned by ADES, and the company will be delisted from the Oslo Stock Exchange. ADES will also settle Shelf Drilling’s existing debt obligations.
The transaction is approved and recommended by the board of directors of Shelf Drilling, who believe that the proposed cash consideration represents fair value for its shareholders.
The merger is also supported with irrevocable commitments to vote in favour of the transaction at an extraordinary general meeting of the company, provided by shareholders Castle Harlan, Perestroika, the company’s CEO and CFO, and board members, together holding a 15% stake in the driller.
The merged company will have a fleet of 83 offshore jackups with a total combined backlog of $9.45bn as of June 30.
“The transaction is supported by Shelf Drilling’s $1.5bn firm backlog and $40-50m of anticipated operational cost synergies, enhancing our global reach, providing access to key regions with solid growth prospects, and offering continuous value to our shareholders,” said Mohamed Farouk, CEO of ADES.
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05 August 20252 min readAdes To Acquire Shelf Drilling In $380M Deal
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Korean & Chinese Shipbuilders Battle For Container Ship Order Worth 4 Trillion WonChinese and Korean shipbuilders are competing for a 4 trillion won order comprising 12 container ships for France.
As orders for LNG carriers are declining in 2025, container vessels are filling the backlogs of shipyards, which has increased the competition between China and Korea.
The construction cost of container ships is more than that of LNG Carriers, and the market of the former is estimated to see rising competition.
Per reports, CMA CGM, the 3rd largest shipping company, is pursuing an order for 12 LNG dual-fuel container ships, each with a 21,000 to 24,000 TEU capacity.
The approximate price of each ship is $250 million, and the contract includes building six ships with an option for 6 extra.
The bidding process involves Korea’s HD Hyundai Heavy Industries, Samsung Heavy Industries and Hanwha Ocean, along with Chinese Companies like China State Shipbuilding Corp, Hudong-Zhonghua Shipbuilding, and Jiangnan Shipyard.
China has an advantage in terms of price competitiveness as the Korean side maintains that a 21,000 TEU container ship would cost at least $250 million to build, though the Chinese side argues that $230 million is enough.
Some sources have said that Hudong-Zhonghua Shipbuilding proposed a price of just $207 million, and it represents major price disruption, given the present market price for container vessels, 20,000 TEU or more, is atleast $220 million.
Korean shipbuilders focused on their superior dual-fuel ship construction technology and high-on-time delivery rates compared to China.
They are also at an advantageous position from the U.S efforts to check China’s shipbuilding and shipping industry.
The U.S Trump Administration plans to impose the port entry fees on vessels built in Beijing or operated by Chinese companies beginning in October.
Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
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05 August 20253 min readKorean & Chinese Shipbuilders Battle For Container Ship Order Worth 4 Trillion Won
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