Wednesday, March 05, 2025
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Galaxy Leader

U.S. Sanctions Houthi Leaders for Arranging Weapons Deals With Russia

Published Mar 5, 2025 3:25 PM by The Maritime Executive

The U.S. Treasury has imposed new counterterrorism sanctions on seven Houthi leaders who worked to secure weaponry from the Russian government and supply Yemeni fighters for the Russian invasion of Ukraine. No Russian officials were sanctioned in the announcement.  The Houthis repeatedly attacked merchant shipping in the Red Sea from late 2023 through the end of 2024, then paused their operations in January after the announcement of the group's stated objective - the phased ceasefire agreement between Israel and Palestinian terror...

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Scotland port Cromarty Firth

UK Awards $71M Grant to Create Largest Scottish Floating Wind Farm Port

Published Mar 5, 2025 2:52 PM by The Maritime Executive

The UK Government awarded a £55 million ($71 million) grant to Scotland’s Port of Cromarty Firth to drive the next phase of expansion which will be used to support planned float offshore wind farms. The grant is the first of two announced under a program launched by the government in 2023 to support the development of port infrastructure needed for the floating wind sector. Located on the northeastern shore of Scotland near Inverness, the Port of Cromarty Firth...

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Golden Faith bulker

CMB.TECH Expands Bulker Position Paying Fredriksen $1.2B for Golden Ocean

Published Mar 5, 2025 2:07 PM by The Maritime Executive

In a surprise move that was also seen as a vote of confidence for the lagging dry bulk sector, the Saverys family announced they are paying nearly $1.2 billion to become investors in Golden Ocean. The company describes itself as one of the world’s leading dry bulk shipping companies currently with a fleet of 91 vessels. The Saverys’ company CMB.TECH continues its efforts at consolidating the shipping industry after acquiring Euronav and converting it to the tanker operating...

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Mediterranean gas platform

Migrants Rescued After Seeking Shelter on Mediterranean Oil Platform

Published Mar 5, 2025 1:15 PM by The Maritime Executive

A group of migrants was rescued after spending four days on a Mediterranean gas platform. One of the NGOs active in the region, the Berlin-based Sea-Watch, finally intervened and with permission from Italy landed 32 survivors and one deceased individual. It was the second incident with the same platform in the past three years. The drama began on Saturday, March 1 when the NGO’s patrol aircraft Seabird which monitors the flow of migrants in the Mediterranean reported it had...

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Offshore

Mediterranean gas platform

Migrants Rescued After Seeking Shelter on Mediterranean Oil Platform

A group of migrants was rescued after spending four days on a Mediterranean gas platform. One of the NGOs active in the region, the Berlin-based Sea-Watch, finally intervened and with permission from Italy landed 32 survivors and one deceased individual. It was the second incident with the same platform in the past three years. The drama began on Saturday, March 1 when the NGO’s patrol aircraft Seabird which monitors the flow of migrants in the Mediterranean reported it had...

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Shipbuilding

Shipyard period for USS Nimitz

Trump Announces a New White House Office of Shipbuilding

It is rare that maritime interests get billing in a joint addreses to Congress, one of the most-watched formal policy speeches that a U.S. president gets to deliver. On Tuesday, though, President Donald Trump took time to call for a reinvigorated American shipbuilding industry, and pledged new support for both commercial and naval yards.  "To boost our defense industrial base we are also going to resurrect the American shipbuilding industry, including commercial shipbuilding and military shipbuilding. And for that purpose, I...

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Environment

oil pollution from ship

EU Audit Finds Polluting Ships “Slip Through the Net” with Lax Enforcement

Despite significant resources and financial investments, the European Court of Auditors found in a new report that ships continue to pollute EU maritime waters with shortcomings in the tracking and enforcement. The auditors are calling for further steps and possible enhancements in the environmental action program to meet the EU’s zero pollution ambition. The audit focused on ship-sourced pollution and the more than a decade of regulations from the EU. It examined EU actions between January 2014 and...

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Business

Golden Faith bulker

CMB.TECH Expands Bulker Position Paying Fredriksen $1.2B for Golden Ocean

In a surprise move that was also seen as a vote of confidence for the lagging dry bulk sector, the Saverys family announced they are paying nearly $1.2 billion to become investors in Golden Ocean. The company describes itself as one of the world’s leading dry bulk shipping companies currently with a fleet of 91 vessels. The Saverys’ company CMB.TECH continues its efforts at consolidating the shipping industry after acquiring Euronav and converting it to the tanker operating...

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