Cadeler’s First Quarter Revenue Jumps on Offshore Wind Fleet Expansion
Cadeler has reported higher first-quarter revenue and earnings, supported by expanded offshore wind installation activity following growth in its operating fleet.The Danish offshore wind vessel operator posted revenue $145.2 million (€125 million) for the first quarter of 2026, up from $75.5 million (€65 million) in the same period last year, while EBITDA rose to $54 million (€47 million) from $27.9 million (€24 million).Fleet utilization across Cadeler’s 10 operating vessels was 47.6% during the quarter…
UK Eases Russian Fuel Sanctions to Safeguard Diesel and Jet Supply
Britain will allow imports of diesel and jet fuel refined abroad from Russian crude under a sanctions carve-out, watering down restrictions to help ensure supply at home as prices soar due to the conflict in the Middle East.While Britain's support for Ukraine remains steadfast, junior treasury minister Dan Tomlinson said, he added that the national interest had to come first and therefore a loosening of certain sanctions on some Russian products for now made sense."We have to make sure that we protect the security of supply for really important foundational goods in our economy…
South African Veterinary Association Stands Against Live Export
The South African Veterinary Association’s (SAVA) has released a formal position statement opposing the export of live animals by sea for slaughter at destination.SAVA joins many other international veterinary associations in condemning this practice. SAVA’s statement draws on extensive peer-reviewed scientific research to conclude that the welfare of animals transported by sea is unavoidably compromised. It identifies a range of inherent harms, among them thermal stress, dangerous ammonia accumulation, the physical impact of ship motion, and risk of infectious disease.
Wärtsilä Secures Lifecyle Agreement for Finnish Border Guard Vessels
Technology group Wärtsilä has signed a long-term Lifecycle Agreement contract with Finnish Border Guard.The 10-year agreement extends existing coverage of ‘Turva’ vessel and will also cover two new vessels, ‘Karhu’ and ‘MT1407’, which are scheduled to join the fleet in 2026 and 2027. The Baltic Sea is one of the busiest marine areas in the world, demanding the Finnish Border Guard to always be ready.It is critical that the vessels are operating reliably and efficiently, so that the Border Guard can safeguard the nation’s borders and respond effectively to any situation.
CMB.Tech Profit Surges as Hormuz Disruption Boosts Tanker Rates
Belgian tanker company CMB.Tech said on Tuesday its core profit more than tripled in the first quarter, as the closure of the Strait of Hormuz curtailed available shipping tonnage, driving a sharp spike in spot freight rates.Shares of the large, diversified maritime company with a fleet of about 250 ships rose more than 5% in early Brussels trading.
Russian Drones Strike Two Ships off Ukraine’s Odesa Coast
Russian drones hit two ships in the Black Sea approaching ports in Ukraine's Odesa region on Monday, including a Chinese-owned cargo vessel, Ukrainian authorities said, after a night of Russian attacks on the area.Ukraine's seaports authority said that the strikes had hit two civilian vessels, one under Marshall Islands flag and another under Guinea-Bissau flag, both of which were heading to ports in the region.The Ukrainian navy reported a strike on the Ksl Deyang, which it described as a Chinese-owned cargo ship sailed by Chinese crew under Marshall Islands flag.
Norway Signs Up to EU Baltic Sea Cooperation Alliance
Norway said on Monday it has joined the European Union's Strategy for the Baltic Sea Region (EUSBSR), which aims to coordinate work around common challenges, including security aspects.Norway, a non-EU country, will join existing members Sweden, Denmark, Estonia, Finland, Germany, Latvia, Lithuania and Poland in the EUSBSR."Membership will strengthen Norway's cooperation with the EU in a region that has become central to European and Norwegian security," said Norwegian Minister of Foreign Affairs Espen Barth Eide.The Baltic Sea region has been on high alert after a string of power cable, telec
Hapag-Lloyd, CMA CGM Suspend Cuba Bookings After US Executive Order
Shipping giants CMA CGM and Hapag-Lloyd said on Sunday they had suspended all bookings to and from Cuba until further notice, with both citing a U.S. executive order issued on May 1, in the latest blow to the crisis-wracked island's economy.The temporary suspension of new orders by two of the world’s largest shipping companies could jeopardize as much as 60% of Cuba's shipping traffic by volume, two sources with direct knowledge of the situation said - a fresh hit to a country already nearing collapse amid a U.S. oil blockade that has throttled the island's fuel supply.“Following the U.S.
Somali Piracy on the Rise
Palaemon Maritime’s maritime security report this week points to some of the clearest indicators yet that piracy activity off Somalia is escalating again.“Taken alone, these incidents might appear isolated. Taken together, they point to something more important: the conditions that enable piracy are building again in the Western Indian Ocean.”Most recently, Palaemon cites a possible hijacking of a dhow off the southern Somali coast, multiple suspicious approaches and aggressive small craft activity in the region…
Japan Secures Second Oil Tanker Passage Through Strait of Hormuz
A Panama-flagged crude oil tanker managed by Japanese refining group Eneos has passed through the Strait of Hormuz, ship-tracking data from LSEG showed on Thursday, the second instance of such a Japan-linked oil ship making it through.Prime Minister Sanae Takaichi has directly contacted Iranian President Masoud Pezeshkian to allow for the transit of the ship, which has four Japanese crew members onboard, she said in a post on X.Before the U.S.-Israeli war on Iran largely disrupted oil supplies via the Strait of Hormuz…
Historic Settlement Finalized for Dali Allision with Francis Scott Key Bridge
Maryland Attorney General Anthony G. Brown has announced that the State of Maryland has reached a final settlement of $2.25 billion with Grace Ocean Private Limited and Synergy Marine Pte Ltd., the owner and operator of the M/V Dali, resolving the State’s claims against those parties arising from the cargo ship’s March 26, 2024 allision with the Francis Scott Key Bridge. On the morning of March 26, 2024, the M/V Dali crashed into a supporting column of the Francis Scott Key Bridge, causing its catastrophic collapse.
Hapag-Lloyd Swings to Loss on Hormuz Disruptions, Weak Freight Rates
German shipping group Hapag-Lloyd on Wednesday reported a first-quarter loss, citing the impact of lower freight rates and operational disruptions stemming from severe weather conditions and the blockage of the Strait of Hormuz on the back of the Iran war.The group posted a net loss of 219 million euros ($257.00 million) compared to a profit of 446 million euros in the first three months of 2025.Hundreds of commercial vessels and up to 20,000 seafarers have been unable to transit the Strait of Hormuz, a vital energy-trade waterway that has been virtually closed since the U.S.
Iraq, Pakistan Secure Oil Shipments via Hormuz with Iran Agreements
Both Iraq and Pakistan have cut deals with Iran to ship oil and liquefied natural gas from the Gulf, according to five sources with knowledge of the matter, in a demonstration of Tehran's ability to control energy flows through the Strait of Hormuz.The U.S.-Israeli war with Iran has slashed energy exports from a region that normally supplies 20% of the world's crude oil and LNG. The U.S. has blockaded Iranian ports in recent weeks. And though Iran initially sought to halt traffic through the strait…
US Indicts Two Foreign Operators, Shoreside Superintendent in 2024 Baltimore Key Bridge Collapse
The U.S. Justice Department said on Tuesday a grand jury indicted two foreign operators and a shoreside superintendent in the March 2024 collision of the 984-foot cargo ship Dali that destroyed Baltimore’s Francis Scott Key Bridge and killed six construction workers.The Justice Department said the collision caused at least $5 billion in damage and significant environmental damage. The National Transportation Safety Board found a single loose wire in the electrical system caused a breaker to unexpectedly open…
Global Maritime Security Training Program Conducted in New Zealand
Exercise Bell Buoy has concluded after two weeks of intense operational activity in Auckland, New Zealand, bringing together international military and maritime partners to strengthen cooperation in an increasingly complex global security environment.Bell Buoy is designed to train personnel engaged in Naval Cooperation and Guidance for Shipping (NCAGS) and Maritime Trade Operations (MTO). It focuses on protecting commercial shipping, enhancing maritime domain awareness, and improving…
Fuel for Thought: How Three Fifty Markets Secured Its Maritime Lien
In February 2026, the U.S. Court of Appeals for the Fifth Circuit issued a major decision that caught the attention of shipowners, bunker suppliers, charterers, and maritime lawyers around the world. The case – Three Fifty Markets, Ltd. v. M/V ARGOS M, et al. – is a masterclass in how maritime liens, bunker supply chains, and “no lien” clauses collide in modern shipping commerce, often in disputes where fuel is delivered, used, and never paid for.At its core, the dispute reflects the complexity of today’s bunker supply chains.
Australia Bans Bulk Carrier for MLC Violations
The Australian Maritime Safety Authority (AMSA) has issued a third ban in less than two months after another shipping company was found to have underpaid its crew, breaching the Maritime Labour Convention (MLC).On April 23, AMSA boarded the Liberia-flagged bulk carrier, FPMC B Forever, operated by Formosa Plastics Marine Corporation, in the Port of Newcastle for a port State control inspection.Inspectors found the crew had been underpaid by almost A$15,000 and were being charged for potable water…
Baltic Exchange Sued Over Hormuz Freight Losses
Commodity trader Mercuria is suing the Baltic Exchange, the world's top provider of benchmark shipping indices, over losses it said were caused by oil tanker pricing data that did not account for the effective closure of the Strait of Hormuz, a court filing showed.The U.S.-Israeli war with Iran, which began on February 28, has left hundreds of ships and 20,000 seafarers stranded inside the Gulf and unable to sail through the vital chokepoints with only a few ships willing to make the voyages daily.In a court filing dated April 30 and submitted through England's high court…
Chouest Group Acquires Alliance Business from Helix Energy Solutions Group
The Chouest Group announced it has completed the acquisition of the Alliance business from Helix Energy Solutions Group. Alliance will be integrated into Champagne Energy Solutions (CES), expanding the Group’s offshore decommissioning and plug & abandonment (P&A) platform.The transaction builds on the recent formation of CES and advances the Chouest Group’s strategy to deliver fully integrated, end-to-end offshore solutions focused on late-life asset management and decommissioning.The combined platform will provide services including P&A…
Op-Ed: The Jones Act Waiver, A Gift to China and NATO’s Iran Onlookers
When Iran closed the Strait of Hormuz, the Administration had a real problem on its hands. I understand why a White House would want to move fast, but moving fast and moving smart are not the same thing. This week the Administration extended the current Jones Act waiver for another 90 days. Washington needs to take an honest look at what this waiver has actually produced.The U.S. Maritime Administration (MARAD), which oversees the nation’s merchant fleet, has data that tells the story.
Maritime Risk Symposium Names U.S. Navy Vice Admiral (Retired) T.J. White as Keynote Speaker
Sam Houston State University (SHSU), the Institute for Homeland Security (IHS), and the Organizing Committee of the Maritime Risk Symposium 2026 (MRS2026) have announced that U.S. Navy Vice Admiral (Retired) T.J. White, Chief of Texas Cyber Command, will deliver a keynote address at this year's event. MRS2026 will be held at LyondellBasell Center for Petrochemical, Energy, & Technology at San Jacinto College in Pasadena, Texas, U.S.A. (greater Houston-Galveston area).Chief White…
Israel Seizes Gaza-Bound Aid Ships in International Waters
Israel has intercepted aid ships bound for Gaza in international waters near Greece, flotilla organisers said on Thursday, decrying the move as an "escalation of Israel's impunity".A second flotilla carrying humanitarian aid to Palestinians in Gaza sailed from the Spanish port of Barcelona on April 12, aiming to try to break the Israeli blockade.The vessels were seized by Israel hundreds of miles from Gaza, said the organisers, Global Sumud Flotilla."This is piracy," the group said in a statement.
North Star Acquires Four New Service Operation Vessels
North Star, a fully integrated offshore infrastructure service provider, has completed the acquisition of four new Service Operation Vessels (SOVs) from Edda Wind.The transaction takes its offshore wind fleet to 14 vessels, among Europe’s largest.The four SOVs, which are currently deployed on offshore wind contracts, provide immediate access to high-specification capacity and enhance North Star’s flexibility in meeting customer needs across key European markets. North Star's financial…