Maritime Industry Briefing: Hormuz Crisis, Critical Minerals, Dry Bulk Moves and Offshore Wind Incident

## Maritime Industry Briefing ### Hormuz Crisis Dominates Headlines as US-Iran Tensions Flare The Strait of Hormuz remained at the centre of global shipping concerns this week following fresh attacks between the United States and Iran, with tanker strikes off Oman resulting in the deaths of three seafarers. The incidents have heightened anxiety across the tanker market and prompted renewed scrutiny of war risk insurance premiums for vessels transiting the region. Some optimism emerged late in the week, however, after President Trump indicated a US-Iran peace deal could potentially be concluded in the near term, according to Splash247. The situation continues to evolve rapidly, and operators are urged to monitor official advisories closely. ### Critical Minerals Rewriting the Rules of Global Trade The accelerating global race to secure critical minerals is fundamentally reshaping trade flows, industrial policy and supply chains, presenting both opportunities and significant challenges for the shipping industry, according to a new report from UN Trade and Development (UNCTAD). In its latest Global Trade Update, UNCTAD highlights surging demand for minerals essential to the energy transition — including lithium, cobalt and rare earth elements — as a key driver of emerging cargo corridors and shifting port infrastructure investment. For shipowners and operators, the trend signals potential growth in specialised bulk and breakbulk trades as supply chains reconfigure around new producing nations. ### Zhejiang Yonghang Orders Up to Six Ultramaxes at Yangfan Chinese owner Zhejiang Yonghang Shipping has placed an order for up to six ultramax bulk carriers at Yangfan Group, signalling continued confidence in the dry bulk segment. The contract covers four firm vessels of 64,500 dwt each, with options for two additional ships, Splash247 reports. The order adds to a busy newbuilding pipeline in the ultramax sector as owners position for anticipated demand growth in minor bulk trades. ### Genco Softens Stance in Proxy Battle with Diana Shipping US-listed dry bulk owner Genco Shipping & Trading has moved to reassure shareholders over its controversial shareholder rights plan — commonly known as a 'poison pill' — pledging to limit its use and to seek investor approval for any future extension. The concession comes as Genco's proxy fight with Greece's Diana Shipping enters its final stretch, according to Splash247. The dispute has drawn close attention from institutional investors and governance observers across the listed shipping sector. ### Wind Turbine Installation Vessel Detained After Esbjerg Incident High winds and adverse weather conditions caused a significant incident at the Port of Esbjerg, Denmark, on Wednesday, June 10, resulting in damage to offshore wind turbine blades and the detention of the wind turbine installation vessel (WTIV) Brave Tern. The Fred. Olsen Windcarrier-owned vessel was detained following the incident, Splash247 reports. The event underscores the operational risks associated with handling large-scale wind components in port environments and is likely to prompt a review of weather threshold protocols at offshore wind logistics hubs.