World Maritime News
WMNF 29/04/2026
Indonesia walks back proposal of Malacca Strait toll
Indonesia’s finance minister briefly suggested charging tolls on ships transiting the Strait of Malacca, inspired by Iran’s actions in the Strait of Hormuz, but quickly retracted the idea as impractical. The comments came amid rising global concern over maritime security following Iran’s seizure of vessels in Hormuz. Malaysia and Singapore firmly rejected any toll proposal, stressing that free transit through the Malacca Strait is guaranteed under UNCLOS and is vital for trade-dependent economies. All three countries emphasized a cooperative framework to keep the strait open. Given that the Malacca Strait handles around a quarter of global trade and a third of seaborne oil, any disruption or closure would severely impact global trade and energy security.
Read more: Lloyd’s List
Shipping trade bodies stick by net zero ambition ahead of MEPC84
Major global shipping industry bodies reaffirmed their commitment to the IMO’s 2023 net‑zero greenhouse gas strategy ahead of MEPC84, while stopping short of explicitly endorsing the IMO’s proposed Net‑Zero Framework (NZF), which includes a global carbon pricing mechanism. They emphasized the need for regulatory certainty, warning that fragmented regional rules would undermine investments already made in alternative fuels and green technologies. Although the NZF faces strong political opposition, particularly from the US and oil‑exporting countries, the industry groups continue to back the IMO as the single global regulator. Deep divisions remain among shipowners and member states over carbon pricing, transition fuels such as LNG, and how any revenues should be used, casting uncertainty over whether the NZF will ultimately be adopted.
Read more: Lloyd’s List
Hormuz crisis drives up Panama Canal delays and auction prices
The effective closure of the Strait of Hormuz has diverted large volumes of energy cargo to alternative routes, sharply increasing congestion at the Panama Canal. Crude oil, refined products, and LPG shipments from the US Gulf to Asia—normally limited—have surged, pushing daily canal traffic to near-peak levels. As more vessels arrive without reservations, waiting times in both directions have risen to around 5–6 days on average in April, with some ships waiting up to two weeks. Auction prices for priority transit slots have spiked to record or near‑record levels, including up to $1.7m for a panamax slot and $4m for a neopanamax slot. Canal congestion is also supporting VLGC freight rates, as more LPG cargoes are rerouted via the longer Cape of Good Hope.
Read more: Lloyd’s List