A VERY large gas carrier sanctioned by the US for transporting Iranian liquefied petroleum gas has been scrapped in India, marking the first known case in years of an Iran-linked shadow fleet* VLGC exiting the market through recycling, reported editor-in-chief Richard Meade and senior maritime intelligence analyst Tomer Raanan.

The Double In (IMO: 8917807), a 34-year-old, 78,000 cu m San Marino-flagged VLGC, was designated by the US Treasury’s Office of Foreign Assets Control on May 19 as part of a broader crackdown on Iran’s energy export network. Last month, the vessel was renamed Ble In and transferred to a Chinese shell company before being beached at Guruashish Ship Breakers in Alang.

Lloyd’s List analysis of the LPG shadow fleet shows the vessel had been carrying Iranian cargoes for more than three years.

Russian Black Sea wheat loadings in freefall

Ukraine’s sustained campaign against Russian Black Sea port infrastructure is increasingly disrupting Moscow’s grain export trade, forcing exporters to seek alternative routes and prompting buyers to turn to rival suppliers, wrote senior reporters Joshua Minchin and Ece Göksedef.

Wheat loadings at Russia’s four main Black Sea terminals fell by about 60% in the five weeks to August 28 compared with the same period in 2025, according to Signal Ocean data.

Lloyd’s List Intelligence data also points to a sharp decline in traceable bulker departures from Russian Black Sea ports. Just nine bulk carriers over 10,000 dwt left Novorossiysk and Tuapse with Automatic Identification System transmissions active in August 2026, compared with 112 in the same month last year. Taman, which recorded 23 traceable departures in August 2025, registered none this year.

Vehicle carrier newbuild boom continues as Ray Carrier Carriers signs 10-ship order

Ray Car Carriers has become the latest shipowner to commit to a large series of vehicle carrier newbuildings, signing a firm order for 10 pure car and truck carriers at China’s Guangzhou Shipyard International, reported markets editor Rob Willmington.

The contract, valued at more than $100m per vessel, was confirmed on Thursday by GSI’s parent China CSSC Holdings.

The first 8,200 ceu vessel is scheduled for delivery in 2029, with the final ship set to enter the fleet in 2031. All 10 vessels have been specified with liquefied natural gas dual-fuel main engines.

The order marks the first newbuilding contract placed by Isle of Man-headquartered Ray Car Carriers at a Chinese shipyard. The company has historically relied predominantly on South Korean yards for new tonnage.

West African crude exports remain below pre-crisis levels despite Hormuz disruption

West African crude exports have failed to capitalise on the disruption caused by the Hormuz crisis, with shipments remaining below pre-crisis levels despite expectations that buyers would turn to alternative suppliers, Lloyd’s List reported.

Vortexa data shows average West African crude exports between March and August 2026 at 3.3m barrels per day, down 4% from the 3.4m bpd average recorded between September 2024 and February 2026.

Global arrivals of West African crude initially surged after the crisis began in March, rising 25% month on month in April. However, volumes subsequently fell 18% in May before recovering 11% in June. Growth then slowed to just 3% in July and 5% in August.

Continued scarce tonnage supply driving ship recycling prices higher

Ship sales to recycling yards remained subdued in August, with just 22 vessels committed for demolition, down slightly from the 25 ships reported sold in July, reported markets editor Rob Willmington.

Despite the limited supply, competition among recyclers remained intense with tight availability of tonnage pushing prices to some of the strongest levels seen since 2024.

In the past week, only three ships were reported sold for scrap by cash buyer Wirana Shipping, all at relatively firm levels. This is reflecting a scramble among yards for the small number of vessels entering the market.