Three former crew members of a Thai cargo ship struck in the Strait of Hormuz in March have filed a lawsuit against the vessel’s operator.

The potential unraveling of a fragile truce between Iran and the United States has renewed anxiety over fuel prices.

The world’s maritime nations preserved a plan to adopt the first global carbon fee on shipping, as they agreed to keep working on it in the fall and adjourned their meeting.

The U.S. has blocked a global fee on shipping emissions as an international maritime meeting ended Friday without adopting new regulations.

Many of the world’s largest shipping nations have agreed to impose a minimum fee on every ton of greenhouse gases emitted by ships above certain thresholds in what's effectively the first global tax on greenhouse gas emissions.

Nations are trying to reach an agreement to charge commercial vessels a fee for their emissions in what would effectively be the world’s first global carbon tax.

Arsenio Dominguez, secretary general of the International Maritime Organization, says international shipping companies need to do more to decarbonize their fleets right now.