U.S. Issues 30-Day License for Delivery and Sale of Russian Oil at Sea

ONE and Chinese Shipbuilder Increase Investment in Owner/Lessor Seaspan

Published Mar 12, 2026 9:12 PM by The Maritime Executive

Three years after taking Seaspan, the leading owner/lessor of containerships to the leading carriers, private Ocean Network Express is set to become its largest shareholder, along with the addition of Chinese shipbuilder Yangzijiang Shipbuilding as an investor. The deal sees the lead investors in the go-private transaction beginning to cash out as Seaspan reaches new leads in its ownership and management of shipping assets. Seaspan was started in 2000 and was mostly working with China’s COSCO Shipping and Yang Ming,...

U.S. Navy Shot at an Iranian Vessel That Got Too Close to a Supercarrier

Published Mar 12, 2026 8:26 PM by The Maritime Executive

A U.S. Navy surface combatant fired on an Iranian vessel that got too close to the carrier USS Abraham Lincoln this week, officials told CBS on Thursday. According to two officials, the warship opened fire on an Iranian vessel using its Mark 45 deck gun, a weapon found aboard Arleigh Burke-class destroyers and Ticonderoga-class cruisers. The crew missed the target multiple times with the five-inch gun, which has automated Aegis fire control and a rate of fire of up to...

Security Concerns Raised as Saudi Arabia Ramps Up Red Sea Oil Exports

Published Mar 12, 2026 7:54 PM by The Maritime Executive

Saudi Arabia’s national oil company, Aramco, is rapidly working to build up operations at its alternate terminal located on the Red Sea at Yanbu. The terminal was designed and built as a backup alternative, and as it works to fulfill its purpose, security consultants are warning that it is not without risks. Yanbu was developed starting in the 1980s and underwent a large expansion completed in 2018. Saudi Aramco highlighted the expansion with the commissioning of Yanbu South Terminal (YST),...

U.S. Seeks Immediate Sale of Shadow Tanker After Landing Crude Oil Cargo

Published Mar 12, 2026 6:24 PM by The Maritime Executive

The United States, in a court filing made on March 12, is asking for an order to permit an immediate interlocutory sale of the seized tanker Skipper and its oil cargo, which is now being stored onshore. The filing in the U.S. District Court for the District of Columbia asserts that the expenses of holding the tanker and its oil cargo will quickly negate the value of the cargo. The tanker, which was built in 2005 and has been operating...

Shipping

Swedish helicopter boarding product tanker

Sweden Intensifies Crackdown on Stateless Vessels with Second Detention

Authorities in Sweden are intensifying a crackdown on unseaworthy vessels that they suspect could be linked to Russia’s shadow fleet. For the second time in a week, Sweden has boarded a vessel transiting through its territorial waters due to concerns of seaworthiness and the belief that the vessel was operating under a false flag. On Thursday evening, March 12, the Swedish Coast Guard, aided by the police, executed a planned operation to intercept the product tanker Sea Owl I (74,998...

Tugs & Salvage

Two Tankers Burn Off Iraq After Suspected Drone Boat Strike

[Breaking] Two tankers have reportedly been hit by unknown projectiles in the Arabian Gulf, according to UK Maritime Trade Operations (UKMTO). Two ships were reportedly struck at a position just south of Basrah, within Iraqi waters. Bystander video from a nearby vessel suggests that they were adjacent to each other and potentially engaged in an STS transfer at the time of impact. The video shows a spreading pool of burning oil surrounding the vessels. Iraqi authorities identified the vessels as...

Government

U.S. Issues 30-Day License for Delivery and Sale of Russian Oil at Sea

The U.S. Treasury Department late on Thursday, March 12, announced it was issuing a general license authorizing the delivery and sale of Russian crude oil and petroleum products already loaded on tankers and at sea in a desperate attempt to stabilize global oil markets. It is the latest move by the Trump administration, which has attempted to slow the dramatic price increases as Iran vowed on Thursday to keep the Strait of Hormuz closed indefinitely and was confirmed to be...

Corporate News

FN and Damen to Develop Next-Generation Maritime Defence Solutions

[By: Damen Shipyards Group] Damen Shipyards Group has signed a memorandum of understanding (MoU) with FN Herstal, laying the foundation for a strategic industrial participation in maritime defence. With this, the two parties aim to collaborate closely on the integration of FN solutions with Damen vessels, and the development of the regional, European and NATO defence eco-systems. The agreement was signed at the BEDEX (Brussels European Defence Exhibition & Conference) event on March 12. The agreement provides for close collaboration...

Cruise Ships

UK Finds Fault in Planning and Medical Care on Cruise Ship in Severe Storm

The UK’s Marine Accident Investigation Branch issued its report on a 2023 incident aboard the cruise ship Spirit of Discovery in which many passengers were injured, including one who later died, as the vessel lost propulsion during a violent storm in the Bay of Biscay. The report outlines significant steps that have been taken to address a range of safety issues, while the UK, along with the Norwegian authority, is making recommendations to the IMO and class societies to enhance...

Ports

U.S. Container Volumes had Normalized Before Iran Despite Uncertainties

Reports indicate the U.S. import container volume was down significantly in February 2026, but despite the uncertainties in trade, the view was that the volumes were beginning to normalize. Descartes Systems Global, in its monthly report, highlighted that February 2026 was ranked as the fourth-strongest February on record, but the impact from the conflict in Iran adds new uncertainty. “While February volumes suggest underlying demand remains relatively stable, the military conflict in the Middle East, evolving U.S. tariffs, and ongoing...

Shipping

Sweden Intensifies Crackdown on Stateless Vessels with Second Detention

Tugs & Salvage

Two Tankers Burn Off Iraq After Suspected Drone Boat Strike

Government

U.S. Issues 30-Day License for Delivery and Sale of Russian Oil at Sea

Corporate News

FN and Damen to Develop Next-Generation Maritime Defence Solutions

Cruise Ships

UK Finds Fault in Planning and Medical Care on Cruise Ship in Severe Storm

Ports

U.S. Container Volumes had Normalized Before Iran Despite Uncertainties

Offshore

Second "Big Beautiful" Offshore Lease Sale Draws Fewer Big Spenders

The U.S. Department of the Interior has completed the second offshore oil and gas auction of its revised lease plan, and the outcome was quieter this time. The auction generated $47 million in high bids for a total of 140,000 acres in 25 blocks, down from the previous auction's total of $280 million. A total of about 80 million acres were up for auction, but the majority received no bids. 13 companies participated in bidding, down from 30 in the...

Shipbuilding

Third US Training Ship State of Maine Delivered to MARAD

The third newly built U.S. training ship for the merchant marine, the State of Maine, was handed over to TOTE Services and delivered to the U.S. Maritime Administration. It will be the fifth training vessel, and the first purpose-built vessel, to be operated by the Maine Maritime Academy, located in Castine, Maine. The handover to the U.S. government took place at the Hanwha Philly Shipyard, and the vessel is scheduled to depart for Maine in the coming days. Once it...

Environment

Study: Ocean Warming Puts "Constant Negative Pressure" on Fish Populations

A new meta-study published in Nature Ecology & Evolution suggests that ocean warming has an outsize impact on the total amount of fish in the water, enough to have major implications for global fisheries. The study, led by researchers at Spain's Museo Nacional de Ciencias Naturales, looked at hundreds of thousands of studies of fish populations in the Northern Hemisphere over a period of nearly 30 years, spanning 1993-2021. The vast data set covered more than 1,500 fish species and...

Business

ONE and Chinese Shipbuilder Increase Investment in Owner/Lessor Seaspan

Maritime Industry Conferences and Events

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U.S. Issues 30-Day License for Delivery and Sale of Russian Oil at Sea

ONE and Chinese Shipbuilder Increase Investment in Owner/Lessor Seaspan

U.S. Navy Shot at an Iranian Vessel That Got Too Close to a Supercarrier

Security Concerns Raised as Saudi Arabia Ramps Up Red Sea Oil Exports

U.S. Seeks Immediate Sale of Shadow Tanker After Landing Crude Oil Cargo

Sweden Intensifies Crackdown on Stateless Vessels with Second Detention

Two Tankers Burn Off Iraq After Suspected Drone Boat Strike

U.S. Issues 30-Day License for Delivery and Sale of Russian Oil at Sea

FN and Damen to Develop Next-Generation Maritime Defence Solutions

UK Finds Fault in Planning and Medical Care on Cruise Ship in Severe Storm

U.S. Container Volumes had Normalized Before Iran Despite Uncertainties

Connecting Opportunities: The Power of Integrated E-Navigation

Collaborative Delivery Models Reshape Port Infrastructure Development

IMO Approved Echosounder and Speed Log System With a Single Sensor

Sweden Intensifies Crackdown on Stateless Vessels with Second Detention

Two Tankers Burn Off Iraq After Suspected Drone Boat Strike

U.S. Issues 30-Day License for Delivery and Sale of Russian Oil at Sea

FN and Damen to Develop Next-Generation Maritime Defence Solutions

UK Finds Fault in Planning and Medical Care on Cruise Ship in Severe Storm

U.S. Container Volumes had Normalized Before Iran Despite Uncertainties

Second "Big Beautiful" Offshore Lease Sale Draws Fewer Big Spenders

Third US Training Ship State of Maine Delivered to MARAD

Study: Ocean Warming Puts "Constant Negative Pressure" on Fish Populations

ONE and Chinese Shipbuilder Increase Investment in Owner/Lessor Seaspan

Maritime Industry Conferences and Events

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