Maritime Industry Briefing: Hormuz Ceasefire Collapses, Hong Kong Tax Incentives, and Offshore Sector Activity

## Maritime Industry Briefing ### Hormuz Ceasefire Collapses as Tanker Struck Off Oman Geopolitical tensions in the Persian Gulf have escalated sharply after a fragile ceasefire in the Strait of Hormuz completely broke down, according to Splash247. Fresh exchanges between US and Iranian forces over the past 24 hours have coincided with a strike on the product tanker *Settebello*, which suffered a fire onboard approximately 20 nautical miles off the coast of Oman. Three seafarers are reported missing following the incident. The collapse of the ceasefire represents a significant deterioration in one of the world's most strategically critical maritime chokepoints. The Strait of Hormuz handles an estimated 20% of global oil trade, and any sustained disruption to navigation in the region carries major implications for energy markets, tanker routing, and war risk insurance premiums. Shipowners and operators with vessels transiting the area are advised to monitor the situation closely and consult flag state and P&I club guidance. --- ### Hong Kong Unveils Tax Breaks to Attract Shipping and Commodity Firms In a bid to reinforce its standing as a global maritime and commodities hub, Hong Kong has announced a package of new tax incentives targeting shipping-related businesses and physical commodity traders, Splash247 reports. A central element of the proposed legislation is a half-rate profits tax concession for qualifying physical commodity trading activities. The move signals Hong Kong's intent to compete more aggressively with rival hubs such as Singapore and Geneva for the lucrative shipping and commodities sector. The initiative comes at a time when the territory has been working to reassert its commercial relevance amid broader economic headwinds. --- ### Caspian Offshore Construction Takes Delivery of Newbuild AHTS Kazakhstan-based offshore marine services provider Caspian Offshore Construction (COC) has expanded its fleet with the acquisition of a new anchor handling tug supply (AHTS) vessel from Chinese shipbuilder Sinopacific Engineering & Contracting (SPEC), according to Splash247. Named *Caspian Yi*, the vessel is the first in SPEC's SPA90 series to enter commercial service, marking a notable milestone for both the operator and the shipyard. --- ### Shearwater Wins ExxonMobil Seismic Contract Offshore Guyana Norwegian seismic specialist Shearwater Geoservices has secured a contract from ExxonMobil to conduct a distributed acoustic sensing (DAS) seismic programme in the prolific Stabroek Block offshore Guyana, Splash247 reports. The two-month scope of work involves source-only seismic acquisition in support of a baseline DAS reservoir survey, further underlining the continued investment in Guyana's offshore oil province. --- ### TGS Secures Streamer Acquisition Contract in Africa and Middle East Oslo-listed seismic data company TGS has been awarded a streamer acquisition contract covering the Africa and Middle East region, according to Splash247. A 3D Ramform vessel is scheduled to begin acquisition in early September 2026, with the programme expected to run for approximately 55 days. The award adds to a growing order book for the company's Ramform acquisition platform.