Maritime Industry Briefing: Black Sea Trade Disruption, Offshore Safety Concerns, and Fleet Moves

## Black Sea Trade Squeezed by Escalating Strikes Commercial shipping in the Black Sea is facing mounting pressure from both sides of the Russia-Ukraine conflict, according to Splash247. Russia has intensified attacks on Ukrainian ports and vessels, while Kyiv's expanding drone campaign has forced new operational restrictions at Russia's largest maritime gateways. The dual-front pressure is significantly disrupting trade flows through one of the world's most strategically important grain and commodity export corridors, with implications for global food supply chains and freight markets. --- ## Offshore Fatalities Rise Despite Improved Injury Rates A new Annual Safety Statistics Report from the International Marine Contractors Association (IMCA) has revealed a concerning divergence in offshore safety performance. While overall injury rates across the offshore marine contracting industry have continued to improve, fatalities more than doubled during the reporting period, Splash247 reports. The findings suggest that headline safety metrics may be masking persistent and serious risks to life, prompting calls for the industry to look beyond aggregate injury data and address the root causes of fatal incidents. --- ## DOF Reshapes Fleet with Sales, Acquisitions, and Total Loss Declaration Norwegian offshore vessel owner DOF is undertaking a significant fleet restructuring, according to Splash247. The company has agreed to sell four platform supply vessels — Skandi Mongstad, Skandi Flora, and two others — while simultaneously pursuing newbuild construction vessel (CSV) acquisitions to reposition its portfolio toward higher-value offshore segments. The restructuring also follows DOF declaring a total loss on the Skandi Amazonas, with an insurance payout expected to contribute to the company's capital reallocation strategy. --- ## Velesto Secures $51M Drilling Contract in North Malay Basin Malaysia's Velesto Energy has been awarded a contract valued at approximately $51 million (RM208 million) by Hess, a Chevron subsidiary, to provide integrated rig, drilling, and completion services in the North Malay Basin, Splash247 reports. The work has been assigned to the Naga 8 jackup rig. The contract reinforces continued upstream drilling activity in Southeast Asian waters and adds to Velesto's backlog as regional operators maintain exploration and production commitments. --- ## Cosco Shipping Orders Eight Heavy-Lift Vessels Chinese shipping giant Cosco Shipping has placed an order for eight heavy-lift vessels with Chengxi Shipbuilding, according to Seatrade Maritime. The newbuilds are designed to address a capacity gap in specialised cargo transportation, a segment that has seen growing demand driven by offshore wind, oil and gas infrastructure, and large-scale industrial project cargo. The order underscores Chinese shipowners' continued appetite for specialised tonnage as the global energy transition drives demand for heavy-lift and project cargo services.