Monthly Supply Chain Report

Falcon Copper and Glencore International sign MoU for up to 1.6 million tonnes per annum of copper concentrate and an Arizona smelting facility to bolster the U.S. supply chain. Falcon Copper and Glencore International signed a non-exclusive MoU to strengthen the U.S. critical-minerals supply chain; Glencore will deliver up to 1.6 million tonnes per annum of copper concentrate to Falcon's planned smelting and refining facilities, with Falcon acting as operator or investor and Glencore providing capital, logistics, marketing and offtake; Falcon's Arizona smelting project sits at the center of a U.S. push to rebuild domestic copper midstream capacity, following Glencore's March 2026 binding nickel offtake from the Centaurus Jaguar project in Brazil.

In the same period, US targets Iran-China oil pipeline in dual sanctions on Qingdao Haiye terminal and Iranian exchange houses. The U.S. State Department designated China-based Qingdao Haiye Oil Terminal alongside a tanker, vessel managers and a linked individual under EO 13846; Treasury moved in parallel under EO 13902 against three Iranian currency exchange houses said to convert oil proceeds for Tehran, expanding compliance exposure across cargo handling, chartering, financing and settlement.

Elsewhere, KEGM signs Med Marine's Ereğli Shipyard contract for two 80-ton bollard pull emergency response tugs. KEGM signed the second tranche of its six-tug procurement program with Med Marine's Ereğli Shipyard in Zonguldak; the 80-ton bollard pull tugs will perform emergency response and salvage missions across the Turkish Straits.

Then, Trump targets EU cars and trucks with 25% tariff. President Trump announced via Truth Social that the U.S. will impose a 25% tariff on EU-origin cars and trucks next week, accusing the bloc of non-compliance with last summer's framework deal that capped vehicle duties at 15%; the new rate marks a return to the prior Section 232 levies.

Continuing on, Somali piracy resurges: JMIC issues "credible threat" warning for the Gulf of Aden and Somali Basin. The Joint Maritime Information Center reported two commercial vessels hijacked within hours last week and a May 1 approach by a skiff carrying seven armed men on a bulk carrier in the IRTC southwest of Al Mukalla, Yemen; with the Hormuz crisis pulling naval assets to the Persian Gulf, pirate groups are reverting to mothership-style operations.

Meanwhile, US Treasury OFAC expands sanctions warning on Iranian "toll" payments in Strait of Hormuz. OFAC's May 1 alert ruled that any "safe passage" value transfer to Iran or the IRGC—cash, crypto, offsets or charitable donations—will be treated as sanctionable; non-US shipowners, insurers and P&I clubs face secondary sanctions and loss of US financial-system access.

Shortly after, Foreign-flag cargo ship runs aground in storm off Karasu. A foreign-flagged cargo ship lost control in adverse weather and grounded off Sakarya's Karasu coast on Türkiye's Black Sea; the Turkish Coast Guard mobilised to evacuate the eight-strong crew, with an air asset requested to support the operation.

On another front, Goodwill Maritime exits the capesize segment with $65M Lowlands Spirit sale to Genco. Singapore-based Goodwill Maritime sold the 2019 Imabari-built, 182,000 dwt scrubber-fitted Lowlands Spirit for $65 million to NYSE-listed Genco Shipping & Trading; delivery is expected in June 2026 and the vessel will trade in the spot market.

In parallel, Clarksons acquires Peruvian shipbroker Serpac International. The London-listed broker absorbed Lima-based Serpac's six-person dry bulk team under Andrew Hardy, securing a strategic Pacific coast foothold for Asia-Latin America commodity flows.

Around the same time, London Court of International Arbitration (LCIA) awards Yapı Merkezi compensation exceeding $300 million from Ethiopia. LCIA ruled in favor of Yapı Merkezi against Ethiopia Railways Corporation (ERC) in a dispute over a $1.7 billion, 400 km railway project from which the contractor withdrew due to civil war; PwC was appointed quantum expert, Ethiopia's scenario priced compensation at $230-300 million but with elapsed time the amount sits well above $300 million, with the payment plan expected by end-May.

In the same period, Iran's Parliament unveils 12-article Strait of Hormuz governance plan. Iranian Parliament Vice Speaker Ali Nikzad announced the 12-article transit protocol during a Bandar Abbas visit: an outright ban on Israeli vessels, war-reparations condition for ships from countries deemed hostile to Iran; revenue split 30% to armed forces and 70% to public welfare and development; "the new governance is as important as the nationalization of oil, ship traffic will not return to its pre-war state".

Elsewhere, Oil tanker M/T EUREKA hijacked off Yemen's Shabwa coast. Yemen's Coast Guard reported that unidentified armed attackers hijacked the oil tanker M/T EUREKA off Shabwa and were diverting it toward Somali waters via the Gulf of Aden; the same day UKMTO logged a separate approach on a bulk carrier 84 miles southwest of Mukalla, as the Hormuz crisis pulls naval assets toward the Persian Gulf and lifts piracy risk in the corridor.

Then, Trump administration formally tells U.S. Congress that hostilities with Iran are "terminated". On the last day of the 60-day War Powers window, the White House told Congress hostilities with Iran are "terminated" and no fresh authorization is required; the same letter notes Iran's threat remains significant and the war may be "far from over," while the U.S. naval blockade and military presence at the Strait of Hormuz remain in place.

Continuing on, Australia and Japan sign four bilateral deals on energy and critical minerals; Australia commits AU$1.3 billion. Japan and Australia signed four bilateral agreements on May 3, 2026 covering energy security, defense and critical minerals; the package includes a declaration to share information and consult on "economic contingencies" in response to geopolitical events, a pledge to cooperate on rare-earth and critical-mineral projects, a statement on aligning national defense strategies and an energy-security cooperation deal; Australia committed AU$1.3 billion (about US$930 million) to joint critical-minerals projects with minerals described as "a core pillar of our economic security relationship," explicitly aiming to build a non-China processing alternative; Japan sources roughly 95% of its oil from the Middle East and around 40% of its LNG from Australia; Anthony Albanese framed the deals as a way to navigate the Hormuz-driven energy crisis together and keep open trade flows of essential energy goods.

Meanwhile, EU's 20th Russia sanctions package uses anti-circumvention tool against Kyrgyzstan for the first time; EU Today documents trace aircraft parts flow into S7 Engineering and Siberia Airlines via the UAE-Jordan corridor. The EU's 20th Russia sanctions package was adopted in April 2026, using the anti-circumvention tool against Kyrgyzstan for the first time to restrict metal-cutting machinery and modem-router exports and adding 120 new individual listings; EU Today-reviewed commercial papers trace 2022-2023 shipments of aircraft parts, APUs and test equipment from UAE-based Golden Falcon Aviation, Casper Aviation and U.C.A Aviation and Jordan-based Aerospace Technical Services into S7 Engineering and Siberia Airlines at Domodedovo and Tolmachevo airports; OFAC had previously designated an ATS-linked entity in December 2023.

Shortly after, Swedish Coast Guard boards Russian shadow fleet suspect Jin Hui off Trelleborg. Civil Defense Minister Carl-Oskar Bohlin announced on X that Jin Hui, listed by the EU, UK and Ukraine, was sailing under a false flag with seaworthiness and insurance issues; the case marks a second major boarding off Trelleborg after the Caffa bulker stopped in March 2026.

On another front, Istanbul Strait two-way traffic suspended after bulker Zaltron suffers engine failure. A 185-meter bulker Zaltron, sailing from Egypt to Russia, suffered an engine failure off Kuruçeşme; Türkiye's Coastal Safety General Directorate dispatched the rescue tugs Kurtarma-3, Kurtarma-5 and Kurtarma-9, two-way Bosphorus traffic was temporarily suspended and the vessel was successfully recovered.

In parallel, Ukraine strikes 2 Russian shadow fleet tankers off Novorossiysk and the Primorsk oil terminal. Zelenskyy said Ukrainian forces struck two Russian shadow fleet oil tankers at the entrance to Novorossiysk in the Black Sea; the same day, the Baltic Sea Primorsk oil export terminal (1 million bpd capacity) suffered a brief fire from a drone strike, with 334 drones launched overnight; Russia returned with 268 drones and one Iskander-M missile, killing two in Odesa including a port truck driver.

Around the same time, First attack on a Chinese-owned oil tanker at the Strait of Hormuz entrance — Al Jeer Port, UAE. Chinese business and finance outlet Caixin reported that on Monday, 4 May 2026, a Chinese-owned and Chinese-crewed oil tanker was attacked for the first time off Al Jeer Port (Ras Al Khaimah), UAE — at the entrance to the Strait of Hormuz — with a fire breaking out on the vessel's deck; the vessel's name, tonnage, cargo volume, destination, crew status and weapon system used have not been officially confirmed; the incident overlapped with the U.S. naval blockade on Iran, President Trump's Freedom Project escort operation and reports of Iran-U.S. final-agreement talks mediated by Pakistan; a direct strike on a Chinese-owned, Chinese-crewed hull opens a new physical-security risk category for the Iran-China energy corridor.

In the same period, Austal wins A$150.3M Australian Border Force Cape-class patrol boat extension. Australian shipbuilder Austal disclosed via an ASX announcement on May 4, 2026 that it has secured an A$150.3 million (about $99 million) contract extension to build two more Evolved Cape-class patrol boats for the Australian Border Force; Hulls 1105 and 1106 will be built at the Henderson yard in Western Australia, lifting the agency's order to six; in March 2026 Austal had handed over ADV Cape Hawke, the tenth class vessel, to the Royal Australian Navy; since 2020 the yard has been contracted to deliver 16 Evolved Cape-class boats across the RAN and Border Force.

Elsewhere, Knutsen NYK Carbon Carriers, Aker Solutions and Vår Energi sign Trudvang CCS MOU. KNCC (a joint venture of Knutsen Group and NYK Line), Aker Solutions and Vår Energi CCS signed a memorandum of understanding on May 4, 2026 to develop the Trudvang CCS project on the Norwegian Continental Shelf; the framework treats transport, offshore injection and long-term storage as a single integrated system; initial capacity is planned at around 2m tonnes per year, with potential to scale above 20m tonnes; the target injection site is the Utsira formation, used for decades at Sleipner; KNCC's medium- and elevated-pressure liquefied-CO2 carriers can perform vessel-to-platform transfer.

Then, Iran strikes UAE with 4 missiles + drone, fire at Fujairah petroleum facility, Brent tops USD 114. The UAE Defense Ministry said Iran fired 4 missiles at the country, with air defense systems running ballistic missile, cruise missile and UAV intercept operations and destroying 3 of them; one fell into the sea; however a drone strike caused a fire at a petroleum industry facility in Fujairah; Brent crude rose 5% past USD 114 per barrel; the attack occurred in the same escalation window in which Trump launched the 15,000-personnel "Freedom Project" escort operation and UKMTO reported a tanker hit 144 km north of Fujairah.

Continuing on, ADB launches Critical Minerals-to-Manufacturing Financing Partnership Facility for Asia. The Asian Development Bank launched the Critical Minerals-to-Manufacturing Financing Partnership Facility on May 4, 2026 to scale processing, manufacturing and recycling of critical minerals across Asia-Pacific; the facility is structured around a grant window for project preparation and a catalytic finance window for cofinancing and risk-sharing; opening commitments exceed US$1 billion, with US$20 million from Japan and US$1.6 million from the UK in the grant window plus US$500 million MoUs each from Korea Eximbank and K-Sure as the first catalytic partners; ADB will scale existing critical-minerals engagements in India, Mongolia, Uzbekistan, Kazakhstan and the Philippines under the new umbrella; the mechanism positions as the largest multilateral financing structure to build processing capacity outside China within Asia-Pacific.

Meanwhile, Three Turkish-linked commercial ships hit by drones in the Black Sea: Medkon SIA, Kıran Marmara and Fethiye-M. Three Turkish-linked commercial ships sailing in convoy to Ukrainian ports — Medkon SIA, Kıran Marmara and Fethiye-M — were hit by drones in the Black Sea; the incident was disclosed late on May 4, 2026, with no verified casualty or serious-injury information released; maritime authorities and sector representatives called for an urgent update of regional security protocols, while P&I additional war-risk premiums and Joint War Committee area listings are expected to be reviewed.

Shortly after, UAE: our air defense systems engaged against a missile threat. The United Arab Emirates announced that its air defense systems engaged against a missile threat; operational details — system type, source of the threat, target area and successful intercept ratio — have not been disclosed; the announcement coincided the same day with UKMTO's report of a tanker hit by an unknown object 144 km north of Fujairah, the IRGC's new Strait of Hormuz control map covering the Mount Mubarak–Fujairah–Qeshm Island line, and U.S. President Trump's 15,000-personnel "Freedom Project" escort operation.

On another front, MISC enters FSRU sector with 20-year Petronas Gas deal at Lumut RGT-3 in Malaysia. Malaysian shipowner MISC accepted a 20-year letter of award from Petronas Gas on April 30, 2026 to supply, operate and maintain a newbuild FSRU for Malaysia's first FSRU-based regasification project, RGT-3 in Lumut, Perak; operations are expected to start in 2029; the FSRU will be built by Samsung Heavy Industries under a KRW 484.8 billion ($352 million) order with delivery scheduled by February 15, 2029; the terminal is sized at 170,000 m³ of LNG storage and 500 million standard cubic feet per day of regasification send-out, sufficient to support roughly 3.5 GW of power generation demand in Peninsular Malaysia; the deal extends MISC beyond LNG shipping into operating regasification infrastructure directly, while RGT-3 will become Petronas's third regasification terminal after Malacca and Pengerang.

In parallel, Singapore and New Zealand sign world's first legally binding supply-chain resilience pact AOTES. Singapore and New Zealand signed the world's first legally binding bilateral supply-chain resilience agreement, the Singapore-New Zealand Agreement on Trade in Essential Supplies (AOTES), on May 4, 2026; signatures were placed by Singapore's Tan See Leng and New Zealand's Todd McClay, witnessed by PMs Lawrence Wong and Christopher Luxon; the pact bars unjustified export restrictions on agreed essential supplies including food, fuel, healthcare and chemicals and creates a consultation and information-sharing framework for crises; about one-third of New Zealand's fuel is refined in Singapore, while New Zealand serves as a trusted food supplier; AOTES will be incorporated into the ANZSCEP free-trade agreement, after the two countries had agreed in principle in October 2025 under their Comprehensive Strategic Partnership.

Around the same time, Türkiye and Armenia sign memorandum on joint Ani Bridge restoration. After Vice President Cevdet Yılmaz's meeting with PM Nikol Pashinyan in Yerevan on the sidelines of the 8th European Political Community Summit, Türkiye's Special Representative Ambassador Serdar Kılıç and Armenia's Special Representative Ruben Rubinyan signed a memorandum on the joint restoration of the historic Ani Bridge; the visit is the highest-level Turkish contact in Yerevan since Abdullah Gül's 2008 trip; talks covered transport, customs, energy and digital connectivity; the foundations were laid at the two sides' 6th meeting in September 2025; the prospect of a gradual opening of the Türkiye-Armenia border (closed since 1993) carries strategic weight for the South Caucasus transit corridor.

In the same period, Iranian press (Fars): U.S. warship hit by two missiles off Jask — unverified. Fars News Agency claimed a U.S. warship that ignored warnings was struck by two missiles off Jask Island and left the area damaged; the single-source claim has not been corroborated by the U.S. Department of Defense, CENTCOM, the 5th Fleet, UKMTO or major maritime outlets; vessel class, crew status and weapon system were not disclosed; the claim aligns with the opening hour of Trump's 15,000-personnel "Freedom Project" operation launched in the Strait of Hormuz on May 4 morning.

Elsewhere, UKMTO reports tanker hit by an unknown object roughly 144 kilometers north of Fujairah in the UAE. The United Kingdom Maritime Trade Operations (UKMTO) reported a tanker sailing roughly 144 km north of Fujairah in the UAE was hit by an unknown object, with all crew safe and no environmental impact; an investigation is under way and ships in the area were urged to report suspicious activity; the incident coincided with the first day of a U.S. military escort operation moving ships stranded inside the Strait of Hormuz.

Then, AYK Energy to supply 6,758 kWh battery system for CSL's MV Yampu bulker under Wärtsilä deal. UK-based AYK Energy said on Tuesday, May 5, 2026 that it will supply a 6,758-kWh battery system for the 11,000-dwt diesel-electric MV Yampu bulker being built for CSL Australia at Jiangjiang Nanyang Shipyard in China; the deal sits as a subcontracted equipment package under a broader contract held by Finland's Wärtsilä with CSL; the system will form the core of the vessel's hybrid diesel-electric configuration, with about half of energy demand expected to come from shore power and onboard storage and the design leaving open a later move to fully electric operation; Yampu is intended for South Australia's limestone trade and will replace MV Accolade II, owned and operated by CSL with Adbri as cargo partner and crewed by Australian seafarers.

Continuing on, TUSAŞ signs F404 engine procurement contract with GE Aerospace for the HÜRJET programme. Turkish Aerospace Industries (TUSAŞ) announced on May 5, 2026 that it has signed an engine procurement contract with GE Aerospace covering F404 engines for the HÜRJET advanced jet trainer and close air support aircraft programme; the deal is set to support HÜRJET's serial production targets and the programme's sustainable growth and lift the platform's global competitiveness; the F404 is a widely used, proven military jet engine family, and TUSAŞ framed the step as a strategic international supply chain cooperation that strengthens the engineering capabilities of Türkiye's aerospace industry.

Meanwhile, Uzmar-Sanmar joint venture wins 20-year Kocaeli-2 regional tug concession with 75.5% public revenue share. Türkiye's Ministry of Transport and Infrastructure awarded the 20-year operating rights for the Kocaeli-2 Regional Service Area tug concession to a joint venture of Uzmar Towage and Sanmar Shipping; the consortium prevailed by offering a 75.5% public revenue share; the tender was launched with TL 21.115 million provisional collateral and covers designated industrial ports, terminal jetties and coastal installations along the Gulf of İzmit; the 75.5% public-share level was significantly higher than the 41% Uzmar offered to win the Samsun Regional Service Area tender in February 2026, and is expected to act as a benchmark for upcoming regional tug tenders in Türkiye.

Shortly after, U.S. CENTCOM hits Iranian-flagged oil tanker in the Gulf of Oman attempting to bypass the blockade. U.S. Central Command (CENTCOM) said an Iranian-flagged oil tanker attempting to bypass the U.S. naval blockade against Iran was neutralized by gunfire in the Gulf of Oman; the action is consistent with the framework Trump set out earlier the same day, in which the Freedom Project escort operation was paused while the blockade itself remained fully in effect; vessel name, tonnage, cargo, crew status and final disposition have not been disclosed; the strike comes on top of the 42 turned-back tankers Adm. Brad Cooper announced on April 30.

On another front, Damen Shipyards takes over Dakar shipyard under 20-year PPP; no direct state payment, partnered with Senegal's SIRN. Dutch Damen Shipyards Group has begun operating DAMEN Shiprepair Dakar through a joint venture with Senegal's government under a 20-year public-private partnership (PPP); the Senegalese side is represented by Société des Infrastructures de Réparation Navale (SIRN), and the contract was signed with Damen Holding BV on April 2, 2026; five candidates were prequalified and Damen Holding BV beat Jobson Italia SRL in the final round; the PPP is structured as user-paid with no direct remuneration to Damen from the Senegalese state; the facility comprises a 191-metre by 25-metre drydock, a 235-metre by 38-metre floating dock and about 500 metres of quay, employing more than 300 personnel.

In parallel, Vanuatu-flagged cargo ship carrying soda sinks off Andros Island in the Sea of Islands; nine crew (eight Turks plus one Azerbaijani) rescued. Greek state broadcaster ERT reported on the morning of May 6, 2026 that a Vanuatu-flagged cargo ship carrying 8,000 tonnes of soda from Albania to Ukraine struck rocks and sank off Andros Island in the Sea of Islands; the nine-strong crew comprising eight Turkish and one Azerbaijani nationals was rescued by the Greek Coast Guard and transported to Andros Island, with no casualties or serious injuries reported.

Around the same time, CMA CGM San Antonio container ship struck by missile in Strait of Hormuz, crew injuries reported. According to UK Maritime Trade Operations (UKMTO) data, the Malta-flagged CMA CGM San Antonio container ship was struck by a probable cruise missile while transiting the Strait of Hormuz on Tuesday, May 5, 2026, with some crew members reported injured; CBS News reported the incident, the latest attack attributed to Iran; U.S. President Donald Trump announced a temporary pause to the Freedom Project maritime security corridor at the request of Pakistan and other countries; U.S. Defense Secretary Pete Hegseth, speaking at the Pentagon, described the operation as a 'security gift to the world'; CENTCOM Commander Brad Cooper said the system layers early warning, electronic warfare and continuous surveillance.

In the same period, AD Ports signs MoU with CMA CGM to expand inland intermodal logistics network across the UAE. AD Ports Group has signed a Memorandum of Understanding with CMA CGM Group and CMA Terminals Khalifa Port to expand inland logistics connectivity across the UAE and the wider region; the agreement covers a rail-linked intermodal network, inland container depots and cargo distribution hubs; Khalifa Port's reach will be extended beyond the quay into the Northern Emirates, Saudi Arabia and Oman; CMA Terminals Khalifa Port opened in 2024 and operates as a joint venture 30% owned by AD Ports; AD Ports CEO Mohamed Juma Al Shamisi described the deal as consolidating the UAE's inland intermodal logistics backbone.

Elsewhere, Rheinmetall confirms it is working with MSC to take over Romania's largest shipyard at Mangalia. German automotive and arms manufacturer Rheinmetall confirmed on May 6, 2026 that it is working with MSC, the world's biggest container carrier, to take over the bankrupt Mangalia shipyard on Romania's Black Sea coast; the three-drydock yard traces its origins to 1976, was taken over by DSME for 20 years in 1997 and then run by Damen, and has been under insolvency since June 2024; the partners aim to develop Romania into a major European shipbuilding production hub; Rheinmetall recently acquired the shipyards of the Lürssen Group.

Then, Trump pauses Hormuz Freedom Project escort operation by mutual decision — blockade remains in effect. Trump announced via Truth Social that the Freedom Project escort operation launched on May 4 has been paused briefly by mutual decision, citing a request from Pakistan and other countries and major progress toward a complete and final agreement with Iranian representatives; the blockade remains fully in effect; per Rubio, the operation had been run with 15,000 personnel and the USS Nimitz Carrier Strike Group to rescue roughly 23,000 civilians from 87 different countries.

Continuing on, Egypt and Algeria sign Sonatrach crude oil supply memorandum. A memorandum of understanding was signed at a ceremony attended by Egyptian Petroleum Minister Karim Badawi and Algerian Energy Minister Mohammed Arkab, opening crude oil imports for Egypt's domestic market from Algeria's state oil company Sonatrach; Cairo continues its strategy of diversifying fuel imports across multiple countries following the U.S.-Israel-Iran war energy crunch; the Mediterranean basin route (Arzew/Bejaia → Alexandria/Suez/Ain Sokhna) offers an alternative free of the Hormuz risk premium.

Meanwhile, Italian unions FILCAMS-CGIL and UILTuCS call strikes against Kering CEO Luca de Meo's sharp recovery plan. Italian unions FILCAMS-CGIL and UILTuCS called nationwide strikes — starting at Gucci workshops in Tuscany — against the sharp cost-cutting measures introduced by Kering CEO Luca de Meo, recruited from Renault in late 2025 to reverse softening luxury demand and margin erosion at the parent of Gucci, Saint Laurent and Balenciaga; the plan covers sales-team headcount cuts, extension of supplier payment terms from 120 to 180 days, side-line product closures and a tighter returns policy in stores; unions argue the longer payment terms will push small and mid-size workshop-suppliers in Tuscany and Veneto into cash-flow distress and create an 8-12-week delivery-delay risk for the autumn/winter 2026 season.

Shortly after, F/A-18 Super Hornet from USS Abraham Lincoln disables Iran-flagged VLCC Hasna in the Gulf of Oman. A U.S. Navy F/A-18 Super Hornet launched from USS Abraham Lincoln disabled the Iran-flagged VLCC Hasna in the Gulf of Oman on 7 May 2026; the report by Splash247 editor Sam Chambers said the tanker was alleged to have attempted to breach the U.S. naval blockade on Iran; CENTCOM-sourced imagery and confirmations show that Hasna began turning toward shore after the strike, with no official statement on crew casualties; the incident came in the same window as the Trump administration's Freedom Project convoy-escort operation and reported Pakistan-mediated Iran-U.S. final-agreement talks; Splash247's lead piece characterised the event in 19th-century naval terms as "gunboat diplomacy returns to Hormuz".

On another front, MKE and Century Arms sign US export deal for 12 semi-automatic rifle models. Türkiye's state-controlled defence manufacturer Makine ve Kimya Endüstrisi AŞ (MKE) and US firearms importer Century Arms signed an agreement at the SAHA 2026 International Defence, Aviation and Space Industry Fair at the Istanbul Fair Centre to export 12 different semi-automatic rifle models to the United States; the deal was signed by MKE General Manager İlhami Keleş and Century Arms General Manager Michael Sucher; Deputy Defence Minister and MKE Board Chairman Alpaslan Kavaklıoğlu and Mustafa Varank, chairman of the Turkish Grand National Assembly Industry, Trade, Energy, Natural Resources, Information and Technology Commission, attended the ceremony; Vermont-based Century Arms' distribution network will serve as the channel for the MKE rifles to enter US retail; financial terms and delivery schedule were not officially disclosed; the contract follows Türkiye's defence and aviation export performance of $2.87 billion in the January–April 2026 period.

In parallel, Hanwha Ocean and Thordon Bearings sign MoU for Canadian Patrol Submarine Program (CPSP). South Korea-based Hanwha Ocean and Burlington (Ontario)-based Thordon Bearings have signed a Memorandum of Understanding to explore cooperation on the Canadian Patrol Submarine Program (CPSP) and other international maritime projects, focused on submarine systems, naval technologies and long-term lifecycle support; Hanwha Ocean is one of two qualified suppliers selected by the Canadian government for the CPSP, considered one of the world's largest conventional submarine procurement programmes; Thordon's oil-free bearing technologies are already installed on Royal Canadian Navy Halifax-class frigates and Harry DeWolf-class Arctic and Offshore Patrol Vessels; Hanwha Ocean said it plans to support the development of domestic Canadian capabilities for submarine subsystems and maintenance, contingent on a final program award.

Around the same time, ÖZATA Shipyard and Maritime Montering sign MoU on naval outfitting cooperation for military vessel projects. ÖZATA Shipyard and Norway-based marine outfitting solutions provider Maritime Montering signed a strategic Memorandum of Understanding (MoU) at the SAHA EXPO 2026 International Defence and Aerospace Exhibition to expand cooperation on military vessel projects in Türkiye; the agreement targets integration of outfitting solutions with advanced shipbuilding capabilities on naval platforms and covers local production, engineering support and technology transfer; the cooperation will be carried out by Maritime Montering's local subsidiary in Türkiye; Maritime Montering Türkiye General Manager Murat Korkut said the Group has supplied high-quality outfitting solutions for around 100 military vessels worldwide; building on a track record in civil shipbuilding, the MoU strengthens localisation of outfitting capabilities in Türkiye's naval defence supply chain.

In the same period, Excelerate Energy signs definitive nine-month charter with Jordan's NEPCO for newbuild Acadia FSRU. New York-listed Excelerate Energy signed a definitive nine-month charter with Jordan's National Electric Power Company (NEPCO) for the newbuild Excelerate Acadia FSRU after delays to Iraq's planned LNG import project pushed back the vessel's long-term deployment; the vessel is expected to begin operations at the Aqaba LNG import terminal in mid-2026 and the charter is forecast to contribute around $20 million in adjusted EBITDA in 2026; Acadia had originally been earmarked for long-term work in Iraq under a five-year integrated LNG import agreement signed in October 2025 with a subsidiary of Iraq's Ministry of Electricity, including minimum contracted volumes of 250 million standard cubic feet per day and extension options; the vessel will move to its long-term Persian Gulf position once the Jordan charter ends.

Elsewhere, EU clears European airlines to use Jet A fuel amid Hormuz crisis. EU Commission clears European airlines to use U.S.-standard Jet A jet fuel amid the Strait of Hormuz crisis.

Then, US CENTCOM says it is blocking more than 70 tankers from Iranian ports — 166 million barrels of crude stranded. On 8 May 2026 the US Central Command (CENTCOM) said in an official post on X that more than 70 commercial tankers are blocked from entering or leaving Iranian ports under the naval blockade enforced in the Strait of Hormuz region since 13 April 2026; the blocked vessels have a combined capacity of more than 166 million barrels of Iranian crude with an estimated cargo value above $13 billion; CENTCOM said more than 15,000 troops, 200 aircraft and 20 warships are executing the mission; ship-tracking data compiled by Anadolu show no major commercial vessels passed through the Strait of Hormuz in the 24 hours leading up to 0900 GMT on 8 May, marking a second consecutive day with effectively zero major transits; the climb in the blocked-tanker count from roughly 42-52 in late April to over 70 in two weeks signals sustained structural pressure on Tehran's oil export revenues, while regional war-risk premiums for shipowners and P&I clubs continue to hold around 2.8% of contract value annualised.

Continuing on, TOBB-backed BOMACO to build integrated free zone and dry port in Idlib, Syria. BOMACO — established in the United Kingdom by the Union of Chambers and Commodity Exchanges of Türkiye (TOBB), the Islamic Chamber of Commerce and Development (ICCD) and Gümrük ve Turizm İşletmeleri (GTİ) — signed a protocol on 8 May 2026 with Syria's Idlib Governorate to build an integrated free zone and dry port in the Idlib region; the deal was signed at the Idlib Governorate building by BOMACO CEO Saruhan Enver Balaban and Director General Ahmed Al-Dhamin, with Idlib Governor Mohammed Abdulrahman and Hatay Deputy Governor Alper Arın Yılmaz attending; according to Syrian state news agency SANA, the integrated free zone and dry port will be co-located on the same site and is positioned as a hub for cross-border trade and logistics infrastructure; initial talks were held the previous month with Kuteybe Bedavi, head of Syria's Land and Sea Ports and Customs Administration, while BOMACO focuses on border-gate, customs and logistics facility development through Build-Operate-Transfer and other PPP models; as the Idlib corridor is connected to Türkiye only via the Hatay border gates, the planned facility will provide bonded transit, RoRo-road combined handling and consolidated border-crossing-time capacity in a single hub for Türkiye-Syria border trade.

Meanwhile, U.S. CENTCOM strikes Iranian military facilities in Hormuz after attacks on 3 U.S. destroyers — Qeshm Port and Bandar Abbas. U.S. Central Command (CENTCOM) carried out self-defence airstrikes against Iranian military facilities on 7-8 May 2026 in response to Iran-launched attacks against three U.S. destroyers in the Strait of Hormuz theatre over the previous 24 hours; according to PortNews on 8 May, the target list covered Qeshm Port, military installations at Bandar Abbas and entrenched missile and drone launch sites along the Strait of Hormuz coastline; U.S. defence officials framed the strikes as calibration of the kinetic enforcement of the Iran blockade rather than a wider-war escalation; Iran said the operations against U.S. destroyers were carried out by the IRGC Navy (IRGC-N) using coast-to-sea missiles and kamikaze drones; Bandar Abbas, run by Iran's State Ports Organization, handles roughly 55% of the country's container traffic and Qeshm Island hosts strategic military positions controlling the Hormuz exit channel; civilian vessel traffic in the area resumed after a two-hour pause, Brent crude jumped about $4 in the hours of the event and tanker war-risk premiums for the region were re-set near 2.8% of contract value annualised.

Shortly after, Jikai Bridge opens over China's 134-km Pinglu Canal. China opened Jikai Bridge over Pinglu Canal; route to shorten 560 km, projected $750m annual savings.

On another front, Aramco CEO Nasser: ~1 billion barrels of oil have left the world market in two months. Aramco CEO Nasser: Hormuz blockade has stripped ~1 billion barrels of oil from the world market in two months.

In parallel, PKP Cargo signed 7-year, 1.4B zloty framework deal with Polish defence ministry. PKP Cargo-Polish Army: 7-year, 1.4B zloty (~$370M) military rail framework deal.

Around the same time, Ambrey: China detained 136 Panama-flagged ships in April (6.4x 2025 average). China detained 136 Panama-flagged ships in April; 6.4x the 2025 monthly average.

In the same period, After Qatar strikes, global helium output falls 309M cu ft/yr (14% of Qatar exports). Qatar LNG capacity -17%; helium short 309M cu ft/yr, chip supply chain at risk.

Elsewhere, Brown Watson Tracker: Iran war cost US consumers $37.6B in extra energy bills. Brown Watson tracker: $37.6B extra US energy cost from Iran war; +$286 per household per month.

Then, Iraq and Pakistan strike Iran transit deals to move oil and LNG through Hormuz. Iraq and Pakistan have secured bilateral transit agreements with Iran to ship oil and LNG from the Gulf region.

Continuing on, UK deploys HMS Dragon + Typhoons + £115M fund to Strait of Hormuz. Following a 40+ country defence ministers meeting co-chaired by the UK and France, the UK is redirecting HMS Dragon from the Eastern Mediterranean to the Strait of Hormuz; Eurofighter Typhoons, autonomous mine-clearance drones, anti-drone systems and a £115M fund are activated.

Meanwhile, US Treasury sanctions 12 individuals/entities in IRGC's Iran-China oil pipeline. OFAC designated 12 individuals/entities targeting IRGC Iran-China oil network under Operation Economic Fury.

Shortly after, Panama Canal priority slot auction hit record $4M per vessel. Panama Canal priority slot record: $4M/vessel; Hormuz crisis pushed energy cargoes to Panama.

On another front, U.S. Navy's Nuclear Battleship Plan: Trump-Class BBGN Program Detailed in Shipbuilding Blueprint. Pentagon's FY2027 shipbuilding plan reveals technical details of next-generation nuclear-powered battleship featuring hy

In parallel, Two Vessel Incidents in Strait of Hormuz: One Seized, Another Sunk. A vessel anchored off UAE coast diverted toward Iranian waters while an Indian-flagged cargo ship sank off Oman followin

Around the same time, Vessel seized off Fujairah being taken toward Iranian territorial waters. UK Maritime Trade Operations reports vessel at anchor northeast of Fujairah was boarded by unauthorized personnel and is

In the same period, New attacks hit ships near Hormuz as Trump discusses Iran crisis with Xi Jinping. Peace talks stalled as new attacks near Strait of Hormuz highlight costs of prolonged maritime crisis.

Elsewhere, Jaguar Land Rover Profit Wiped Out by Cyberattack and U.S. Tariffs. British luxury carmaker's annual profit plunged from £2.5 billion to £14 million

Then, Maryland Reaches $2.25 Billion Settlement Over Baltimore Bridge Collapse. Settlement with Dali container ship owners marks one of the largest maritime disaster agreements in Maryland's history

Continuing on, Adani and Astro Offshore sign agreement for European subsea expansion. Adani Ports' marine platform Astro Offshore partners with Oceaneering International to enter ultra-deepwater operations

Meanwhile, Indian-flagged cargo ship attacked off Oman: sank after fire, all 14 crew rescued. Indian-flagged general cargo on Somalia-UAE route was attacked off Oman; fire then sinking, all 14 crew rescued by Oman; security risk spilling outside Hormuz signals war-risk premium rises.

Shortly after, Louisiana's $13 Billion Commonwealth LNG Project Receives Final Investment Decision. Caturus reaches final investment decision on 9.5 mtpa LNG export terminal in Cameron Parish with $9.75 billion in projec

On another front, Iran Seizes Chinese-Owned 'Floating Armory' Ship Near Strait of Hormuz. Hong Kong-based Sinoguards vessel taken into Iranian waters by Tehran forces; no official statement from Iranian authori

In parallel, US Supreme Court: Freight Brokers Can Be Held Liable for Unsafe Carrier Selection. Unanimous 9-0 decision removes federal preemption shield, allowing state-level negligent-hiring lawsuits against brokers

Around the same time, Greek-Operated Tanker Breaks Through Hormuz Gridlock to Reach India. The 1-million-barrel Suezmax tanker Karolos became one of the few crude shipments to cross the Strait of Hormuz, effecti

In the same period, Maersk announces revised import storage tariffs at Rijeka and Koper ports. Danish container carrier announces new demurrage rates for Croatian and Slovenian ports, effective from June 15 price ca

Elsewhere, Brookfield to Acquire Air Freight GSSA Giant WFC for $1.2 Billion. Brookfield Asset Management is acquiring World Freight Company, serving over 300 airlines, from EQT and PAI Partners; de

Then, MicroVision Turns $33M Luminar Deal Into Trucking LiDAR Expansion. Company combines Luminar assets acquired from bankruptcy and Scantinel technology to offer cost-focused sensor solutions

Continuing on, Iran Establishes New Transit Mechanism for Strait of Hormuz: Europe Begins Permit Negotiations. Iranian Parliament officials announce paid permit system for Strait of Hormuz transit; Chinese, Japanese and Pakistani v

Meanwhile, Dry Bulk Carrier Hayriye Ana Towed to Ambarlı After Engine Failure in Marmara. The 118-meter vessel lost propulsion off Beylikdüzü and was safely towed to anchorage by tugboat under pilot supervision

Shortly after, US Allows Russia Oil Sales Waiver to Expire Despite Tight Market Conditions. Trump administration lets waiver lapse that enabled purchases of Russian crude, even as Iran conflict tightens global oi

On another front, USS Ford Strike Group Earns Presidential Unit Citation After Historic 326-Day Deployment. America's newest aircraft carrier completed one of the longest deployments since Vietnam War as fleet shortage stretched

In parallel, China Imposes Administrative Fines on MSC, CMA CGM and Hapag-Lloyd for Freight Rate Violations. China's Ministry of Transport has fined nine international container carriers and seven NVOCCs for violating freight rat

Around the same time, Port of Tuticorin Launches Tender for 420,000 TEU Container Terminal. V.O. Chidambaranar Port Authority issued global tender to transform Berth No. 7 into container terminal with USD 540 mil

In the same period, MV Marquise Hit Off Ukraine Transits Istanbul Strait Under Security Escort. Cameroon-flagged Marquise vessel struck by drone attack off Ukraine transited Istanbul Strait under security protocols,

Elsewhere, Ukraine drone attack kills 3 in Moscow region; 556 drones downed in war's biggest barrage. Governor Vorobyov reported 3 civilian deaths; Russia said 556 Ukrainian drones were downed overnight, with Moscow airports briefly closed.

Then, South Korea Government Orders Emergency Arbitration for Samsung Strike: $667M Daily Loss Risk. Prime Minister Kim Min-seok announced all options including emergency arbitration will be deployed against strike threat

Continuing on, Drewry WCI Jumps 12% as Asia-Europe and Transpacific Rates Surge. Shanghai-New York freight rates rose 14% as carriers tighten the market through capacity management and additional surch

Meanwhile, Suezmax Tanker With Iraqi Crude Reaches India After Hormuz Transit. The Suezmax tanker Karolos loaded at Basra crossed the strait fully laden as daily commercial transits remain far below

Shortly after, US Treasury Extends Russian Oil Waiver for 30 Days as Hormuz Crisis Tightens Global Supply. Treasury Secretary Scott Bessent announced a 30-day temporary license for Russian oil cargoes stranded at sea due to the

On another front, Port of Los Angeles Sees April Volume Jump to 891,000 TEU Despite Iran War Shadow. Executive Director Gene Seroka reports spring and summer goods arriving at the port, with back-to-school products and ho

In parallel, Russia Expands LNG Dark Fleet With Four Tankers to Boost Sanctioned Exports. Four LNG tankers switched from Oman operations to Russia's sanctioned Arctic LNG 2 project as Moscow circumvents Western

Around the same time, US Treasury Extends Russian Oil Waiver for 30 Days as Hormuz Crisis Tightens Global Supply. Treasury Secretary Scott Bessent announced a 30-day temporary license for Russian oil cargoes stranded at sea due to the