Global Maritime Forum Refreshes Board with ING, Navigator Executives
The Global Maritime Forum has overhauled its board, appointing Stephen Fewster of ING Bank and Navigator Holdings CEO Mads Peter Zacho as new members. Long‑standing directors Michael Parker, Randy Chen and Øivind Lorentzen III stepped down after reaching term limits, moving to an advisory council. The reshuffle is designed to blend shipping, finance and energy‑transition expertise as the sector faces mounting decarbonisation pressures. Forum chair Jan Dieleman highlighted the need for broader insight to drive collaboration across the maritime value chain.
Stainless Tankers Reshuffles Top Management
Oslo‑listed Stainless Tankers announced a sweeping leadership overhaul. Chairman Ted Kalborg will step down, with current CEO Andrew Hampson slated to assume the chairmanship pending shareholder approval. Simultaneously, Hampson will vacate the CEO role and be succeeded by Nicolas Tirogalas, Tufton...
Prokopiou Family-Linked Beacon Tankers Emerges with Suezmax Newbuild Play at Hengli
Beacon Tankers Management, a new venture linked to Greek shipping dynasty Prokopiou, signed contracts for two 158,000 dwt suezmax tankers with China’s Hengli Heavy Industries, with options for two more vessels. The order deepens the family’s expansion into the mid‑size tanker...
Ship Recycling’s Ambition Problem
Captain Soumitro Roy argues that the Hong Kong Convention (HKC) compliance, while an improvement over beaching, is being treated as the final solution for ship recycling. He warns that this mindset locks the industry into a compromised model that still...
OOCL Challenges FMC Court System After $45m Ruling
Orient Overseas Container Line (OOCL) has filed a lawsuit in a Texas federal court seeking to halt Federal Maritime Commission (FMC) administrative proceedings and overturn a $45 million penalty. OOCL argues the FMC’s in‑house adjudication violates constitutional protections because administrative law...
CMA CGM Looks Inland with UAE Logistics Push Alongside AD Ports
French liner CMA CGM has signed a cooperation agreement with UAE’s AD Ports Group to extend its Khalifa Port terminal into a network of rail‑linked inland depots and dry ports across the Emirates and neighboring markets. The partnership will enable cargo...
Japanese Owners Cash in as Aframax Prices Hit Record Highs
Nissen Kaiun sold the 2018 aframax Pusaka Borneo for $76.5 million, setting a record for a seven‑year‑old vessel. A sister ship, Southern Reverence, fetched roughly $75 million, confirming strong buyer appetite. Aframax spot rates surged to $225,000 per day in late March...
Bunker Supplier TFG Marine Links Financing to Digital Delivery Records
TFG Marine, the bunker fuel arm of Trafigura, secured a working‑capital facility of up to $300 million from DBS Bank. The loan is directly tied to the company’s expanding use of electronic bunker delivery notes (eBDNs) created with ZeroNorth and SGTraDex....
Knutsen NYK Carbon Carriers Moves Deeper Into North Sea CO2 Shipping Push
Knutsen NYK Carbon Carriers (KNCC) has signed an MoU with Aker Solutions and Vår Energi CCS to develop the Trudvang CCS project on the Norwegian Continental Shelf. The partnership aims to create an integrated CO₂ value chain that links European...
KSS Line Books Trio of VLGCs at HD Hyundai
South Korea’s KSS Line has placed a $342 million order for three 90,000 cu m very large gas carriers (VLGCs) with HD Hyundai Heavy Industries. The vessels, slated for delivery starting Q1 2029, are already covered by long‑term time charters – two to BGN...
Okeanis Eco Tankers Locks in $190m Financing for Tankers and Leaseback Exit
Greek tanker owner Okeanis Eco Tankers secured $190 million in new loan facilities to fund two suezmax newbuildings and to repurchase two VLCCs tied to sale‑and‑lease‑back arrangements. The financing package includes a $90 million tranche from E.SUN Commercial Bank and two $50 million...
ADES Lands Nigeria Rig Deal Worth $93m
ADES Holding secured a two‑year contract with Seplat Energy for its jackup Shelf Drilling Victory in Nigeria, valued at about SAR 347.6 million ($92.7 million). The agreement includes two optional one‑year extensions and covers mobilisation, demobilisation and local‑partner fees. Operations will start in...
Average Distance of Global Seaborne Trade Has Increased by 10% During the Disruptive 2020s
Clarksons Research reports that the average haul of global seaborne trade rose 10% in the 2020s, reaching 5,262 nautical miles per tonne and generating 68 trillion tonne‑miles last year. The surge stems from expanding U.S. energy exports, Guinea’s bauxite shipments, and...
Geneva Dry High Sets the Stage for Splash Singapore Debut
After a record‑breaking Geneva Dry conference, the organizers are rolling out the inaugural Splash Singapore on September 24 at Singapore’s Fairmont Hotel. The event follows a no‑presentation, no‑selling format, gathering senior shipowners, managers and charterers for candid, unscripted dialogue. Highlights include a...
Costamare Confirms Boxship Newbuild Spree Backed by COSCO
Greek container ship owner Costamare announced a 16‑vessel new‑build programme in China, securing long‑term charters with COSCO Shipping that generate about $2.8 billion of contracted revenue. The order includes twelve 9,200‑teu boxships slated for delivery between Q3 2028 and Q2 2030 on 15‑year...
Ardmore Lines up Tanker Newbuilds in China
Ardmore Shipping, listed in New York, has contracted China’s Wuhu Shipyard to build two 40,500‑dwt product and chemical tankers at $44.9 million each, with options for two more vessels on identical terms. The ships, built to full IMO 2 specifications and fitted...
Euroseas Details Expanded Newbuild Programme
Euroseas announced four additional feeder vessel orders in China, raising its new‑build programme to ten ships worth roughly $500 million. The contracts include two 1,800‑TEU vessels at $32.5 million each and two 2,800‑TEU high‑reefer ships at $46.5 million each, with deliveries slated between...
Hunter Group Installs Interim CEO
Oslo-listed Hunter Group has named Erik Mathiesen as interim chief executive, serving through October 31 2026, as the firm prepares for a strategic shift after its current charter exposure expires. Mathiesen will oversee day‑to‑day operations while collaborating with the board on a...
HEA Energy Lands Fresh North Sea Wind Contract
Abu Dhabi‑based HEA Energy has secured a new operations and maintenance contract for offshore wind farms in the North Sea, slated to begin in summer 2026. The work will be carried out using its jack‑up barge HEA Hercules, which was...
Complexity, Two-Tier Fleets and Bunker Fears Dominate Scene-Setting Opening Panel at Geneva Dry
The opening panel at the third Geneva Dry highlighted an unprecedentedly complex period for dry‑bulk shipping, noting a 2% YoY increase in trade to roughly 1.7 bn tonnes and strong rate gains across panamaxes, supramaxes and handysize vessels. Speakers warned that the...
Report Highlights Denmark’s Maritime Innovation Weaknesses
Denmark’s maritime sector, praised for technical expertise, faces a commercial‑scale bottleneck, according to Studio 30 50’s 2026 report. The study, built on surveys and interviews, finds that 91% of participants view the pilot‑to‑contract transition as excessively slow, while 92% point to a...
Clarksons Builds Americas Footprint with Serpac Deal
Clarksons plc has acquired the dry‑bulk broking business of Peru‑based Serpac International, adding a six‑person team led by managing director Andrew Hardy. The purchase gives the London‑listed shipbroker a foothold on South America’s Pacific coast, a region where commodity exports...
Goodwill Maritime Exits the Capesize Segment with Genco Deal
Genco Shipping & Trading announced the purchase of the 182,000‑dwt capesize vessel Lowlands Spirit for $65 million, with delivery slated for June 2026. The ship, built in 2019 by Imabari and currently operated by Cobelfret, was previously listed under Singapore‑based Goodwill Maritime. This...
Why Fire Safety Training at Sea Must Go Further
Maritime fire safety training has traditionally relied on the STCW Convention’s minimum standards, but recent incidents reveal that certification alone is insufficient. Experts argue that scenario‑based, practical drills and regular refresher courses using modern simulation tools are essential for real‑world...
NextGeo Tightens Grip on Rana Subsea with Fresh Stake Buy
Italian firm Next Geosolutions (NextGeo) exercised an option to acquire an additional 7.1% stake in subsea contractor Rana Subsea, paying €7.25 million ($8.5 million). The transaction raises NextGeo’s ownership to 82.5%, solidifying its majority control. The move builds on a prior takeover...
Sweden Confiscates Bulk Carrier Accused of Carrying Stolen Ukrainian Grain
Swedish authorities confiscated the 96‑meter bulk carrier Caffa after a foreign state requested legal assistance. The vessel was intercepted near Trelleborg on March 6, sailing under a false Guinean flag and suspected of transporting grain stolen from Ukrainian fields. One crew...
Geneva Dry’s Digital Workshop Cuts Through the Hype to Find What Actually Works
The Digital Dry Hard Talk workshop at Geneva Dry cut through AI hype to focus on real results for shipping technology buyers. Panelists highlighted market fragmentation, stressing that interoperability and connectivity are the biggest gaps rather than more vendors. They...
Euroseas in Fresh China Newbuild Move
Euroseas, the Nasdaq‑listed Greek boxship owner, is reportedly negotiating a purchase of two 1,800 TEU Bangkokmax vessels from China’s Nantong CIMC Sinopacific Offshore & Engineering, with delivery targeted for 2028. The ships are priced around $32 million each, matching recent market rates...
Norwind Expands Offshore Wind Fleet in Major Vessel Deal
Norwind Offshore doubled its fleet by acquiring six commissioning service operation vessels (CSOVs) from Edda Wind, in partnership with Navigare Capital Partners. The newly added vessels, built to Vard 4 25 and SALT 0217 specifications, were delivered within the past year or are near...
BW Offshore Lands Bay Du Nord FEED Deal with Equinor
Floater specialist BW Offshore has secured a front‑end engineering and design (FEED) contract with Equinor for the Bay du Nord offshore development off Newfoundland. The FEED work, slated to run through the end of 2026, will mature the FPSO design,...
Diana Shipping Fixes Capesize and Ultramax at Higher Rates
Greek bulker owner Diana Shipping has signed time‑charter deals for its capesize vessel New York and ultramax DSI Pyxis. The New York will earn a gross $27,500 per day, up from $17,600, for a minimum period starting May 1 2026 and running through March 31 2028. Oldendorff’s...
US Commits $774m to Upgrade Port Infrastructure Nationwide
The U.S. Department of Transportation’s Maritime Administration announced a $774 million investment to modernize port infrastructure across the nation. Funding will support 37 projects spanning coastal, Great Lakes, and inland river ports, focusing on rail tunnel expansions, advanced screening technology, two‑tier...
Qatar LNG Faces Long Road Back After Unprecedented Disruption
Qatar’s LNG export machine suffered its steepest decline in over 20 years, dropping to 0.23 million tonnes in April—about 85 % below the nine‑year average—after the Strait of Hormuz closed and missile strikes disabled trains 4 and 6. Analysts forecast a three‑phase...
Container Shipping’s ‘Long Covid’ Reshapes Capacity
Container shipping is grappling with a "long covid" effect, as vessel reliability remains poor. Sea‑Intelligence data shows capacity absorbed by delays has risen to 4‑6% of global slots, roughly double the pre‑pandemic 2.2% level. Average delay times have settled at...
Genco and Diana Lock Horns over Meeting Timing as Takeover Battle Heats Up
Genco Shipping & Trading and Diana Shipping are locked in a proxy battle as Diana, which holds about 14.8% of Genco, accuses the board of delaying the 2026 AGM to entrench itself. Genco filed a preliminary proxy statement urging shareholders...
Enesel Pivots Back to Bulk with Capesize Newbuilds in China
Greek-owned Enesel Group is re‑entering the dry bulk market by ordering two 181,500 dwt capesize vessels from China’s Hengli Shipbuilding. The ships are slated for delivery in the third quarter of 2027, marking the firm’s first new bulk builds after selling...
FuelEU Maritime Calculation Error Exposes Operators to Millions in Unintended Penalties
A flaw in EMSA's Thetis compliance system miscalculated ice‑class voyages under the EU FuelEU Maritime rule, causing compliant operators to receive incorrect emission balances. The error persisted past the March 31 2026 verification deadline, locking many pools with inflated compliance figures. EMSA...
Archer Secures $320m Equinor Contract Extension
Archer, a Norwegian offshore service provider, has secured a three‑year contract extension with Equinor worth roughly NOK 3 billion ($322.5 million). The deal expands the integrated wireline and intervention services originally awarded in 2021 across key Equinor assets on the Norwegian Continental Shelf....
Shearwater Trims Fleet with Disposal of Idle Vessel
Shearwater Geoservices announced the sale of its 2012‑built offshore seismic vessel SW Baret to an undisclosed buyer. The transaction, slated to close in Q2 2026, is priced above the vessel’s book value, promising a modest gain. SW Baret has sat idle...
Splash Wrap: Why the Hormuz Conflict Is a World War
The Hormuz shipping crisis has sent freight slot prices soaring to $385,000, with some bids exceeding $1 million, while disrupting global fertilizer and sulphur supplies. The International Maritime Organization’s secretary‑general called for immediate de‑escalation to safeguard freedom of navigation. Panama Canal...
Geneva Dry Dialogues: Devbulk
Hakki Deval, CEO of Istanbul‑based Devbulk, says the dry‑bulk market remains cautiously optimistic, especially for handysize and supramax vessels where supply favors owners. He warns that new‑build orders are best delayed until yard prices soften and fuel regulations clarify, preferring...
Greek Bulker Player M/Maritime Crosses Into Boxship Sector with Korean Newbuilds
Greek shipping firm M/Maritime, traditionally a dry‑bulk operator, has placed its first container feeder ship order. The company signed for two 2,800‑TEU boxships built by Hyundai Heavy Industries, slated for delivery in early 2028. The vessels feature the eco‑focused CON‑GREEN...
TEN Extends Shuttle Tanker Deals Into Next Decade
Tsakos Energy Navigation (TEN) has secured extensions for two shuttle tankers, adding up to five years of charter each starting around mid‑2028. The extensions are projected to generate more than $200 million in gross revenue over their term. The move reinforces...
Dship Carriers and NSB Launch MPP Management Platform
German multipurpose vessel (MPP) specialist dship Carriers and shipmanager NSB Group have formed the joint venture Hinode Shipmanagement to operate a new series of high‑spec vessels. Based in Buxtehude, Hinode will manage six D500‑class ships—14,999 DWT each with 500‑tonne crane capacity—currently...
Mumbai Owner’s MR Splurge Keeps Brokers Busy
Seven Islands Shipping, backed by Fairfax Financial, has accelerated its product tanker expansion, purchasing 11 vessels since early 2025, with six MR tankers acquired since June. The latest deal added the 51,500 dwt MR2 tanker Hansa Tromsoe for roughly $16.9 million, bringing...
Helix–Hornbeck Merger Creates Deepwater Services Heavyweight
Houston‑based Helix Energy Solutions and Hornbeck Offshore Services have signed an all‑stock merger agreement. Hornbeck shareholders will receive roughly 55% of the combined entity while Helix shareholders retain about 45% on a fully diluted basis. The new company, operating under...
Union Maritime Expands Offshore Footprint with New Joint Venture
Union Maritime announced a joint venture with Vega Maritime, creating Union Vega Offshore (UVO) to expand its offshore services in West Africa and South America. The partnership will be led by Vega Maritime CEO Kenneth Fjeld and initially focus on...
War Turns Sulphur Market Toxic in Acid Supply Shock
Global seaborne sulphur shipments plunged in March 2026, falling 31% month‑on‑month to 1.5 million tonnes, the sharpest decline in a decade after the Strait of Hormuz was effectively closed. The Gulf, which supplies over half of the world’s sulphur, saw exports...
Vessel Tracker MariTrace Sold
French ocean‑data firm SINAY announced the acquisition of UK vessel‑tracking specialist MariTrace, though the deal price was not disclosed. The purchase follows SINAY’s earlier buys of OpenOcean in 2022 and Safecube in 2024, aiming to fuse vessel, cargo and environmental...
Odfjell Lines up Four Newbuilds in Japan
Norwegian chemical tanker owner Odfjell has secured four 40,000‑dwt fully stainless‑steel newbuildings from Japan’s Kitanihon Shipbuilding, valued at roughly $290 million. Deliveries are slated between Q1 2027 and Q2 2029, and the vessels will join Odfjell’s core deep‑sea trades as next‑generation super‑segregators. The...