Tuesday, March 03, 2026
Media Kit
The U.S. has provided security assurance for tanker navigation in the Gulf before: Operation Earnest Will, 1987 (USN file image)

Trump: U.S. Will Provide "Risk Insurance" For All Shipping in the Gulf

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Drone

Drone Strikes Reported in Fujairah and Duqm

Published Mar 3, 2026 4:40 PM by The Maritime Executive

On Tuesday morning, drones hit an oil storage terminal at Fujairah, UAE, a key energy transshipment and bunkering hub for the Gulf region. Tank farm sorage operations at Fujairah had already been suspended for safety reasons, and there were no casualties reported. The fire has already been put out, according to UAE authorities. Bunkering operations at Fujairah have slowed after the strike, according to Reuters, but have not been formally suspended. The biggest effect of the drone strikes may be...

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Zim feeder ship containership

Zim Supports Emergency Transport to Repatriate Israelis

Published Mar 3, 2026 4:28 PM by The Maritime Executive

Israel has organized a number of emergency transport efforts to aid Israelis caught overseas as the war with Iran began. Included in the efforts, a smaller Zim feeder ship has been pressed into duty to transport critical personnel who have been making their way to a designated collection point reported to be in Cyprus. The Israeli media outlet Calcalist reports that the Zim Australia is being used to shuttle medical personnel who were overseas back to Israel. It writes that...

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LNG tanker fire

Fire Aboard Russian LNG Carrier Near Malta After Possible Ukrainian Attack

Published Mar 3, 2026 2:36 PM by The Maritime Executive

A Russian LNG carrier that has been sanctioned and operates in the shadow fleet is reported to be ablaze and drifting in the Mediterranean after one or more explosions. Official sources in Malta confirmed the fire and evacuation of the vessel after videos of the incident were circulating online. Speculation was suggesting the vessel was attacked by a Ukrainian sea drone. The vessel was identified as the Arctic Metagaz (77,551 dwt), which is believed to be laden after taking on...

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The interplay of internal Iranian politics, Israeli ambitions and American military action will determine whether oil prices rise or fall (NIOC file image)

Traders Weigh Iran's Internal Politics to Figure Out Which Bets to Place

Published Mar 3, 2026 2:28 PM by The Maritime Executive

Oil and gas traders, as well as ship charterers, are faced with an open question as the impact of the crisis in the Gulf region deepens. If the crisis ends quickly, those with short positions in futures will make a fortune, as the recent sharp rise in prices collapses. For those who are long, with delivery dates next month and beyond, prices are likely to rise further if the crisis is prolonged, particularly when stocks held afloat are brought ashore....

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Offshore

Maersk Offshore Wind Turbine Installation Vessel

Seatrium Delivers WTIV to Maersk Offshore Wind

The next-generation wind turbine installation vessel, which became the center of a dispute before it was completed, has been successfully delivered, with both companies now celebrating the possibilities. Seatrium reports it completed the delivery on February 26 after sea trials and final readiness evaluations at the Tuas Boulevard Yard in Singapore, while Maersk Offshore Wind is calling the ship the first in its journey towards growing a future-ready fleet. Maersk Offshore Wind, which is owned by the investment company A.P....

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Shipbuilding

Greek Foreign Minister

Hanwha and Greece’s Onex Shipyards Partner to Expand U.S. Shipbuilding

A new trilateral agreement was formalized between Onex Shipyards & Technologies, which is working to revitalize Greek shipbuilding, and South Korea’s Hanwha Power Systems, with American officials looking on during the signing event. According to the reports, the effort will support the efforts in Greece but also looks to leverage the emerging opportunities in the United States under the Trump administration’s U.S. Maritime Action Plan. Onex reports that the agreement focuses on the development of newbuildings with LNG capacity as...

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Environment

Trawlers

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...

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Business

Norwegian Cruise Line

Norwegian Cruise Admits Misstep as it Issues Disappointing Outlook

Norwegian Cruise Line Holdings reported its fourth quarter and year-end financial results, and while it met or exceeded expectations, it disappointed with its outlook for 2026. Admitting “missteps” and “misalignment,” the cruise corporation provided an outlook for 2026 well below analyst projections, and as activist shareholder Elliott Investment Management is beginning to meet with fellow investors ahead of the company’s annual meeting. The announcement of results faced further headwinds due to world events and the uncertain outlook for the oil...

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