Maritime Industry Briefing: Strait of Hormuz Tensions, Ammonia Engine Tech, and Autonomous Vessel Funding

## Strait of Hormuz Tensions Disrupt Shipping The ongoing conflict between the US and Iran has led to significant disruptions in maritime traffic through the critical Strait of Hormuz. According to Hellenic Shipping News, 'several shipping companies have suspended vessel transits through the Strait of Hormuz amid the ongoing war in the Middle East, sharply slowing activity in the key global oil chokepoint.' The news outlet reports that 'transit activity through the strait is extremely limited (fewer than 15 transits), while vessels continue to gather on the eastern side of the passage.' This has led to a spike in fuel prices, with the Iran war sending 'oil prices flying and biofuel prices less so.' Shipping companies will need to carefully weigh the risks of transiting the strait in the coming weeks. ## New Ammonia Engine Exhaust Treatment System Developed In more positive news, Korean Register (KR), EcoPro HN, and HD Korea Shipbuilding & Offshore Engineering have jointly developed a new ammonia engine exhaust gas after-treatment system, according to Hellenic Shipping News. The system 'achieved a 95% reduction in nitrogen oxides (NOx) emissions and a 99.7% reduction in ammonia slip' during land-based testing. This represents an important step forward in enabling the use of ammonia as a marine fuel, which is seen as a key pathway for the industry to meet emissions reduction targets. ## European Maritime Autonomy Startup Raises $4.2M In the technology space, Mirai - described as 'Europe's first dual-use maritime autonomy startup' - has raised $4.2 million in funding, reports Hellenic Shipping News. Mirai develops 'software-defined autonomous vessels and AI platforms designed to operate continuously in real maritime conditions.' The company's systems 'combine advanced sensing, autonomous navigation, remote supervision, and safety layers, and can be deployed either as complete autonomous platforms or integrated into existing vessels.' This funding will help accelerate the development and deployment of these innovative maritime autonomy solutions. Overall, this briefing highlights the diverse range of challenges and opportunities facing the maritime industry, from geopolitical tensions to technological advancements. Stakeholders will need to closely monitor these developments to navigate the evolving landscape.