Maritime Industry Briefing: Record VLCC Orderbook, Suez Fee Hikes, and Escalating Enforcement Actions

## Maritime Industry Briefing ### VLCC Orderbook Surpasses 2008 Peak The global supertanker orderbook has reached an all-time high, with 262 very large crude carriers (VLCCs) currently on order at shipyards worldwide, according to Splash247. The figure eclipses the ordering frenzy of 2008 — a boom that ultimately flooded the market and triggered a prolonged collapse in freight rates. Industry observers are watching the trend closely, with concerns that history may repeat itself if newbuild deliveries outpace demand growth. The record orderbook reflects both renewed confidence in crude oil trade volumes and the ongoing fleet renewal cycle driven by decarbonisation pressures. ### Suez Canal to Raise Transit Surcharges from July 15 Shipowners face additional cost pressures after the Suez Canal Authority (SCA) announced it will increase transit surcharges for most vessel classes from July 15, Splash247 reports. The revised charges, outlined in a series of newly issued navigation circulars, will affect tankers, gas carriers, bulk carriers and containerships transiting the strategic waterway. The move comes as the SCA seeks to recover revenue following a prolonged period of reduced traffic caused by Red Sea security concerns that diverted many operators to the longer Cape of Good Hope route. ### Enforcement Escalates: From Hormuz to the Mediterranean US and European authorities have significantly stepped up maritime enforcement operations targeting Iran and Russia's shadow fleet. According to Splash247, US Central Command (CENTCOM) disabled a Palau-flagged VLCC in the Gulf of Oman after the vessel attempted to breach Washington's naval blockade of Iran. Simultaneously, the European Union escalated pressure on both Tehran and operators linked to Russia's shadow fleet in the Mediterranean. The dual-front crackdown signals a hardening of Western resolve to enforce sanctions at sea and marks a notable expansion of enforcement geography beyond the Persian Gulf. ### Diana Scales Back Genco Board Challenge The high-profile boardroom battle between dry bulk owners Diana Shipping and Genco Shipping & Trading has shifted ahead of Genco's upcoming annual meeting. Splash247 reports that New York-listed Diana has withdrawn four of its six director nominees, sharply scaling back its campaign. The retreat suggests a recalibration of strategy by the Greek owner, though the contest is not entirely over with two nominees remaining in play. The outcome of the vote is expected to have implications for Genco's strategic direction and capital allocation priorities. ### US SHIPS Act Stalls in Congress Efforts to revitalise the US maritime industry through the SHIPS Act are losing momentum, according to Seatrade Maritime. Despite the Trump administration's stated ambitions to rebuild American shipbuilding and shipping capacity, progress on the legislation has been slow, with the act described as effectively 'dead in the water' without additional political momentum. Advocates argue that further pressure will be needed to advance the bill through Congress and translate policy ambition into tangible industry reform.