Researchers Expose Hack that Could Hand Attackers Full Control of Ship’s Engine, Navigation and Power
Maritime researchers uncovered four critical flaws in the SmartShipWeb IoT platform that let a remote attacker commandeer a vessel's propulsion, navigation, power, ballast, steering and fire safety systems directly from a web browser. The attack chain starts with a client‑side password‑reset token vulnerability and culminates in unrestricted file‑system access, exposing thousands of Modbus registers and hundreds of controllable points without authentication. Smart Ship Hub patched the issues after coordinated disclosure with Singapore’s Cyber Security Agency, and no exploitation was observed. The findings arrive as maritime cyber incidents doubled in 2025 and new IACS E26/E27 resilience standards take effect.
Luxembourg Maritime Administration: The Boutique Flag
Luxembourg’s maritime registry has added a second Greek‑operated tanker, the 183‑metre Theanoula, to its flag, underscoring a growing pipeline of Greek tonnage. The registry, launched in 1990, leverages the country’s political stability, sophisticated financial‑services framework and EU legal regime to...
Euroseas Books High-Reefer Boxship Newbuilds in China
Greek shipping firm Euroseas has placed an order for two 2,800‑TEU high‑reefer boxships from Huanghai Shipbuilding in China, with deliveries slated for June and August 2028. Each vessel, priced at about $46.35 million, will comply with EEDI Phase 3 and IMO NOx...
Most Maritime AI Failures Will Be Data Failures, Not Algorithmic
Artificial intelligence is rapidly entering maritime operations, from collision‑avoidance tools to structural health monitoring. The article argues that the greatest vulnerabilities will stem from degraded or poorly governed data rather than flawed algorithms. Sensor drift, AIS inconsistencies, and GPS quality...
Stolt-Nielsen Brings NYK Into Avenir LNG Venture
Stolt‑Nielsen has agreed to sell a 50% stake in its LNG bunkering arm Avenir LNG to Japan’s Nippon Yusen Kaisha, creating a joint venture focused on small‑scale LNG and bio‑LNG supply. The transaction, executed through Stolt‑Nielsen Gas, is slated to...
Procopiou Pushes Tanker Expansion with More VLCC Orders
Greek shipowner George Procopiou is expanding his crude carrier fleet with an order for four 306,000‑dwt VLCCs from Hengli Heavy Industry, placed through Dynacom Tankers. The contracts are valued between $400 million and $600 million. This deal marks the second VLCC order...
JP Morgan Shipping Arm Books Suezmax Trio at Samsung Heavy
JP Morgan’s Bermuda‑based shipowner Global Meridian Holdings has placed an order for three new suezmax crude carriers with Samsung Heavy Industries. The contract, valued at roughly KRW 400 billion ($268 million), translates to about $89.3 million per 157,000‑dwt vessel. Deliveries are scheduled between the...
Pan Ocean Bulks up with Qingdao Beihai Newcastlemaxes
South Korea’s Pan Ocean exercised options for two additional Newcastlemax bulk carriers at Qingdao Beihai, bringing its order at the Chinese yard to four vessels worth roughly $308 million. The ships, each costing about $77 million, are slated for delivery by October 2030...
Jinjiang Shipping Presses Ahead with Newbuild Plan
Shanghai‑listed Jinjiang Shipping has placed an order for four 1,900 TEU boxships from Jiangsu New Yangzijiang Shipbuilding, with options for another four of the same design. Each vessel is priced at roughly RMB 205 million ($29.7 million), forming part of a broader RMB 1.94 billion investment to...
HJ Shipbuilding Set to Take over HD Hyundai’s Gunsan Yard
HD Hyundai Heavy Industries has agreed to sell its Gunsan shipyard to HJ Shipbuilding & Construction, transferring roughly 1.8 million sq m of land, facilities and a 700‑metre dock. The deal, still subject to due‑diligence pricing, includes a three‑year transitional period during which...
Fear of Silence Keeps Harassment Hidden at Sea
Seafarers continue to hide bullying and harassment because they fear their complaints will be ignored, despite growing regulatory focus from the IMO and ILO. A Britannia P&I Club webinar revealed that while 62% of crew know how to report, only...
‘The Largest Supply Disruption in the History of the Global Oil Market’: IEA’s Take on the Hormuz Crisis
Iran’s new supreme leader, Mojtaba Khamenei, has pledged to keep the Strait of Hormuz closed, turning the vital oil chokepoint into a geopolitical weapon. The International Energy Agency warns this blockade represents the largest supply disruption in oil market history,...
India Taps 65m Barrels of Russian Crude
The U.S. Treasury issued a one‑month OFAC wind‑down licence, allowing Russian crude already at sea to complete voyages through April 11. The licence is intended to stabilise energy markets amid the Strait of Hormuz crisis that has disrupted Gulf supplies. Broker...
Splash Wrap: The Hormuz Inferno
Iran’s newly appointed supreme leader pledged to keep the Strait of Hormuz closed, stoking fears of the worst oil‑supply disruption in history. Meanwhile, China is maneuvering after Panama stripped Hong Kong‑based CK Hutchison of two container‑terminal contracts, handing temporary control to MSC...
NYK Takes Full Control of Saga Welco
Japanese shipping giant NYK has acquired full ownership of Saga Welco, ending its 12‑year 50:50 joint venture with Norway’s Westfal‑Larsen. The deal, with undisclosed financial terms, gives NYK control of Saga Welco’s fleet of 48 open‑hatch vessels that serve global...
Yang Ming Readies Order for Six LNG Dual-Fuel Boxships
Taiwanese carrier Yang Ming Marine Transport has cleared an order for six LNG‑dual‑fuel neo‑panamax boxships, part of a broader plan to add 13,000 TEU vessels to its fleet. The new ships will replace older 4,250‑6,500 TEU vessels and reinforce Yang Ming’s east‑west trade...
Circle Digital Ventures: Crew and Risk Management
Circle Digital Ventures, led by CEO Meei Wong, is pivoting maritime technology from ship‑centric solutions to human‑centric risk management. The company leverages AI to detect early signs of fatigue, stress, and health issues, enabling proactive support and reducing operational incidents....
New Safety Kits Help Seafarers Prepare for Missile and Drone Attacks in Conflict Zones
Maritime charity Stella Maris has begun distributing specialist safety kits to vessels calling at Ukrainian ports, aiming to protect crews from missile and drone attacks. The kits contain haemostatic tourniquets, pressure bandages, flash‑burn treatment, and multilingual emergency guidance, including shelter maps...
Himalaya Shipping Lands Premium Index-Linked Charter
Himalaya Shipping has secured a 12‑ to 14‑month charter for its 210,000 dwt newcastlemax bulk carrier Mount Matterhorn, tied to the Baltic Exchange Capesize 5TC Index and offering a premium over the benchmark. The vessel will begin the new contract in...
Respect the Guts that Power Global Trade
President Trump urged commercial vessels to have the “guts” to cross the Strait of Hormuz, prompting a rebuttal from Captain Akee Sharma of Sailor’s Cart. Sharma emphasizes that seafarers already endure months away from families, hazardous conditions, and constant operational...
Salt Trade Seasoned with Strong Egyptian Flows
Global seaborne salt shipments jumped 19% year‑on‑year to 13.5 million tonnes in January‑February 2026, driven by Egyptian exports that more than doubled to 2.9 million tonnes. The United States recorded a record 4.2 million tonnes discharged, reflecting heightened de‑icing demand after severe winter...
D’Amico Grows Orderbook to 10 Ships with Latest MR2 Order
Italian product tanker owner d’Amico International Shipping has expanded its new‑building programme in China by exercising options for two additional 50,000‑dwt MR2 tankers at Jiangsu New Yangzi Shipbuilding. The vessels, priced at $45.4 million each, are slated for delivery in August...
Panagiotidis Lines up Another Nasdaq Shipowner with Tanker Spin-Off
Cyprus‑based shipowner Petros Panagiotidis is spinning off Robin Energy's tanker unit into a new Nasdaq‑listed entity called AI Okto. Existing Robin shareholders will receive one AI Okto share for every 6.5 Robin shares, and the new company will launch with...
Venergy Targets Crude Segment with Suezmax Newbuilds in China
Greek shipowner Venergy Maritime has placed firm orders for two suezmax crude tankers with Shanghai Waigaoqiao Shipbuilding, adding options for two more vessels. The 158,000 dwt, scrubber‑fitted ships are priced at roughly $82 million each and are scheduled for delivery in 2029...
New Pilot Scheme to Protect Bangladesh Shipbreaking Workers
The International Labour Organization, together with maritime association BIMCO, has introduced a pilot Employment Injury Scheme (EIS) for ship‑recycling yards in Bangladesh, the world’s largest ship‑breaking hub. Under the voluntary model, ship sellers contribute $0.5 per light displacement ton to...
MSC Strikes 45-Year Deal for Nigerian Box Terminal
Swiss shipping giant MSC Group has secured a 45‑year concession to develop a new container terminal at Snake Island Port in Lagos, partnering with Nigerian firm Nigerdock. The engineering, procurement and construction contract was awarded to ITB Nigeria and DEME...
Wan Hai Deepens Newbuild Push with LNG and Methanol-Ready Boxships
Taiwanese carrier Wan Hai Lines has placed six new container ship orders, adding four 6,000‑teu LNG dual‑fuel vessels and two 9,200‑teu methanol‑ready ships. The LNG builds cost between $75.2 million and $82 million each, while the methanol‑ready units are priced at $102‑112 million...
KNOT Returns to COSCO Zhoushan for Another Shuttle Tanker
Knutsen NYK Offshore Tankers (KNOT) has placed an order for a 154,000 dwt, 279‑metre shuttle tanker at COSCO Shipping Heavy Industry in Zhoushan, bringing its total contracts with the Chinese yard to fourteen. The vessel will feature DP2 dynamic positioning, bow‑loading...
Hormuz Has Exposed Shipping’s New Visibility Divide
The recent missile and drone attacks in the Strait of Hormuz exposed a stark visibility divide in maritime logistics. While insurers pulled war‑risk coverage and AIS signals were jammed, some operators leveraged digital twins and scenario modelling to reroute traffic...
Precious Shipping Taps Japanese Lease Financing for Four Bulkers
Thai dry bulk carrier Precious Shipping has arranged a Japanese operating lease with call option (JOLCO) transaction for four of its vessels. The $49.8 million financing covers two handysize ships built in 2015‑2016 and two supramax bulkers built in 2012, which...
Hormuz Closure Sends Bunker Prices to Record Levels
The closure of the Strait of Hormuz amid the Iran‑US/Israeli conflict has driven bunker fuel prices to record highs, with IFO 380 averaging $841.50 per tonne globally and Singapore reaching $1,073. At least 20% of the world’s HSFO exports are now...
How Can the IMO Reassert Its Role as Shipping’s Global Regulator?
The International Maritime Organization entered 2026 under intense scrutiny after the October defeat of its Net‑Zero Framework, compounded by a U.S. administration skeptical of UN bodies. Secretary‑General Arsenio Domíñouez pledged a "year of implementation," yet member states doubt swift action. Industry...
Africa Boasts the World’s Four Fastest‑growing Container Lanes
Container Trade Statistics shows Africa dominates the four fastest‑growing container lanes worldwide, driven by strong import and export growth across all regions. MSC’s strategic redeployment of its largest vessels from Asia‑Europe to the burgeoning Asia‑West Africa route lifted average ship...
Geneva Dry: 50 Days to Go
Geneva Dry 2026 is set to host a record‑breaking crowd, with more than 220 companies already registered and space expanded to accommodate 900 delegates. Organisers added 185 rooms across nearby hotels after the President Wilson’s rates sold out, ensuring a comfortable...
Jinhui Continues Fleet Renewal with $23.5m Ultramax Sale
Jinhui Shipping agreed to sell its 2014‑built ultramax vessel Jin Ping to Hongkong Yiming Shipping for $23.46 million, with delivery slated for June‑July 2024. The ship, acquired in 2022, carried an unaudited net book value of about $19.9 million, implying a projected...
China Merchants Unit Orders LNG-Powered Yangtze Bulkers
China Merchants’ subsidiary Changhang Freight has placed an order for two 20,000 dwt LNG‑powered bulk carriers from Jiangxi New Jiangzhou Shipbuilding. The vessels are river‑sea direct bulkers designed for Grade A navigation on the Yangtze River, enabling seamless operation between inland waterways...
Splash Wrap: Iran Front and Centre
Operation Epic Fury, the U.S. and Israel’s campaign against Iran, has left 20,000 seafarers stranded and driven tanker rates and bunker costs to record highs. A Russian‑sanctioned LNG tanker, Arctic Metagaz, sank in the central Mediterranean after what Moscow described...
Speak up for Our Sector
Maritime leaders face a perfect storm of geopolitical turmoil, regulatory uncertainty and shrinking investment, threatening the sector’s ability to meet decarbonisation and infrastructure goals. Intent Communications CEO Namrata Nadkarni urges a single, data‑driven voice through the 2025‑26 ICS Maritime Barometer Survey...
GMS Pushes EU to Recognise India’s Ship Recycling Capacity
GMS, the world’s largest cash buyer of ships for recycling, is urging the European Commission to add qualified Indian ship‑recycling yards to the EU Ship Recycling Regulation list. Over 110 Indian yards hold Hong Kong Convention compliance, yet none have been...
Costamare Orderbook Hits 10 in 3,100 Teu Series
Costamare added four more 3,100 teu vessels to its Chinese newbuilding programme, bringing total orders for that size to ten. Deliveries are scheduled between Q4 2027 and Q4 2028, each with medium‑term charter agreements secured at signing. The expansion marks the company’s re‑entry...
Great Eastern Keeps Fleet Renewal on Course with Fresh Kamsarmax Buy
Great Eastern Shipping announced the purchase of a 2014‑built Japanese kamsarmax of 81,094 dwt, slated to join its fleet in the first quarter of FY27. The acquisition is part of a broader renewal program that swaps older vessels for younger...
Estonian Owner Amisco Moves on MPP Newbuilds
Estonian shipowner Amisco has placed an order for two 5,900‑dwt multipurpose dry cargo vessels from Jiangsu Dajin Heavy Industry in China. Steel cutting for the first hull began in February 2026, with deliveries slated for the first and second quarters...
Diana Rolls Panamax Bulker Into Improved SwissMarine Fixture
Greek dry‑bulk carrier Diana Shipping has secured a new time charter for its 77,525 dwt panamax vessel Crystalia. The ship will sail for SwissMarine at $16,200 per day, minus 5% commission, from mid‑March 2026 through early 2027. This rate exceeds the...
Nanjing Tanker Orders Trio of Chemical Carriers
Nanjing Tanker, a Shanghai‑listed subsidiary of China Merchants Group, has signed a contract for three 6,600 dwt stainless‑steel chemical carriers with Yangzhou Dingheng Shipyard. The $71 million deal, including tax, targets delivery in the first half of 2028 and adds to the...
Zodiac Maritime Stacks Tanker Orderbook
London‑based Zodiac Maritime is expanding its crude carrier renewal by ordering five new tankers in Asia. The deal includes four 319,000‑dwt VLCCs from Jiangsu New Hantong Ship Heavy Industry at roughly $120 million each, slated for 2029 delivery, and a 157,000‑dwt...
Union Maritime Bulks up with First Newcastlemax Newbuilds
Union Maritime, a UK‑based tanker operator, is linked to its first Newcastlemax bulk carrier order, potentially securing up to four 215,000‑dwt vessels from China’s Wuhu Shipyard. The deal includes two firm ships and two options at roughly $76 million each, with...
Performance Shipping Orders Suezmax Pair in China
Performance Shipping, the Nasdaq‑listed Greek tanker owner, has signed contracts for two 158,000 dwt suezmax vessels with Shanghai Waigaoqiao Shipbuilding. Each newbuild costs $81.5 million and is scheduled for delivery in October 2028 and May 2029. The ships will be Tier III, scrubber‑fitted and meet...
Navigator Fixes Newbuild Financing
Navigator Holdings secured a $133.7 million loan from ABN AMRO, Crédit Agricole and Nordea to finance two 48,500 cu m liquefied ethylene gas carriers under construction at Jiangnan Shipyard. The facility covers up to 65 % of pre‑delivery and delivery instalments, with the balance funded...
Brazilian OSV Giants OceanPact and CBO to Merge
Brazilian offshore vessel owners OceanPact and CBO Group announced a merger that will create a combined fleet of 73 vessels. The new entity is projected to generate over $778 million in annual revenue and hold a backlog of roughly $2.7 billion. Leadership...
Energy Drilling Founder Marcus Chew to Step Down as CEO
Marcus Chew, founder of Singapore‑based tender drilling specialist Energy Drilling, will step down as CEO and assume the role of executive chairman. Luc Plouzennec, the current VP of operations and marketing, is promoted to CEO, while marketing manager Chua Yong Chiang...