Norway may have found a way to bridge the gap between having a carbon price and not. The test will be whether the US sees an advantage in letting it through, or stays in wrecking mode

European shipowners are entering a crucial fortnight in Brussels with most of their core demands already reflected in the EU ETS review, but a bruising fight remains over who controls shipping’s carbon revenues and how billions of euros are redistributed across fuels, technologies and ports

But watch out for differing country-by-country interpretations of CRD VI package

Russia has rejected renewed calls for a Black Sea maritime truce, linking any ceasefire to wider wartime objectives as a spike in attacks on merchant shipping underscores the growing risks facing shipowners, insurers and commodity traders

Norway is considering making the Net-Zero Framework’s emissions price voluntary, in a bid to win over opponents of a mandatory carbon tax

The sinking of a cargoship off Bulgaria and a second drone strike on another merchant vessel have intensified concerns over the security of western Black Sea shipping, prompting fresh warnings from EU leaders over freedom of navigation and grain export routes

Iran has accused US forces of misusing the maritime distress frequency VHF Channel 16, as attacks against commercial shipping in and around the Strait of Hormuz surge to their highest level since the conflict began, with more than 20 vessels targeted since late September

Oman has joined an EU-led coalition opposing tolls and restrictions on international shipping routes, signalling support for freedom of navigation principles as negotiations with Iran over the future governance of the Strait of Hormuz continue amid escalating security concerns

EU curbs on Chinese hybrid vehicle imports will trim growth for one of the car carrier sector’s most important long-haul trades, but analysts say tight vessel supply and alternative export markets should prevent a significant weakening in freight rates

Donald Trump’s agreement to release Russian diesel on to global markets could create additional product tanker cargoes, but constrained Russian supply, persistent sanctions risks and relatively modest volumes mean the shipping impact is likely to be limited

China is accelerating efforts to build domestic marine insurance and reinsurance capacity as sanctions, war risk shocks and geopolitical tensions expose the strategic risks of relying on London-dominated insurance markets

Inadequate checks may prejudice P&I cover

Russia has argued to put the brakes on IMO green measures, saying the industry will simply pay to comply rather than switch to greener fuels. But its evidence for that claim deserves scrutiny

Deal follows purchase of Mays Brown earlier this year