Bound4Blue says the sails have surged in popularity within the tanker segment, because they have smaller footprints than other solutions.

The escalating war has effectively dashed hopes for a full Red Sea reopening this year, though forecasting remains difficult.

With the Strait of Hormuz all but closed, Saudi Arabia has been rerouting oil through a 1,200 kilometer pipeline to the western port of Yanbu.

The impetus behind the suspension appears to be simply an effort to shave a few pennies off the price of gasoline.

Some carriers are attempting to introduce “war surcharges” on lanes with no direct exposure.

It is now two weeks since the Arctic Metagaz was badly damaged by a series of explosions and fire, and the crew was rescued.

While the rates are high, it’s also a sign that cover remains available for the handful of vessels looking to cross the vital waterway.

"We want the world to be well supplied," Treasury Secretary Scott Bessent said in an interview with CNBC.

The Islamic Republic hasn’t asked for talks or a ceasefire after Trump told NBC on March 14 that he’s willing to make a deal but wants better terms.

Nuclear propulsion could save up to $68 million in annual operating costs per container vessel, according to the report.