Russia and Ukraine have stepped up attacks on each other’s commercial ships and ports in the Black Sea area, raising concerns about global grain supplies.

Moving forward, Seroka predicted that it will likely be "steady as it goes" for the rest of 2026, with the port expecting to handle another 900,000 TEUs in August.

The terminal will allow the port to handle massive container ships with 50-foot drafts, which in the past have been too large to navigate to the port's existing facilities.

The earnings increase come as exporters in the Persian Gulf seek more vessels to deliver the abundant crude barrels they promised to Asian buyers.

The 3,500 mile path cuts through the Arctic Circle, and more than halves the time it takes to sail between China and Europe. 

Although the coalition's efforts were largely successful in suppressing piracy over the last decade, renewed global instability has allowed the threat to reemerge.

A spokesperson for the Houthis said on social media on August 17 that the group had struck a Saudi military vessel and four escort ships at Yemen's Port of Mokha.

The trade of ferrying oil through the Strait of Hormuz undetected to transfer the barrels onto tankers in the Gulf of Oman is running at full tilt, sources say.

The ocean carrier brought in $15.8 billion in revenue in Q2, up from $13.1 billion a year earlier, while operating profit nearly doubled year-over-year to $1.6 billion.

Around 113 vessels were waiting to transit the Panama Canal as of August 3, compared to just 40 vessels that were in line in early January.