Wednesday, May 06, 2026
Media Kit
carrier Ford passing Gibraltar

Supercarrier USS Gerald R. Ford Transits Gibraltar into Atlantic

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The PGSA will provide an administrative interface with the Islamic Revolutionary Guard Corps Navy, which oversees transits (Fars)

Iran Launches "Persian Gulf Strait Authority" to Administer Hormuz Tolls

Published May 5, 2026 6:48 PM by The Maritime Executive

After Iran announced its plan to charge for safe passage through the Strait of Hormuz in March, a plethora of scam operators popped up to offer fraudulent paperwork in exchange for payment in cryptocurrency. That problem may now have a solution, though not the one that the shipping community would prefer: Iran has launched an official "Persian Gulf Strait Authority" with its own formal email address, providing owners with a verifiable single window for arranging transit with the Islamic Revolutionary...

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Iranian crude oil tanker

Indonesia Says Iranian Tankers Have Legal Right of Passage in Lombok Strait

Published May 5, 2026 6:20 PM by The Maritime Executive

Indonesian officials said they are aware of the reports that Iranian crude oil tankers are transiting the Lombok Strait and cited the right of free passage. The statements came after reports by TankerTrackers.com that two Iranian-flagged crude oil tankers have slipped past the U.S. blockade and are routing through the passage east of Bali as an alternative to the more closely tracked Malacca Strait. “We believe that these vessels are exercising their right of passage in accordance with international law,”...

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USS Wasp emergency generator

IACS Finds Common Failure Modes in Emergency Generator Systems

Published May 5, 2026 4:53 PM by The Maritime Executive

After the loss of power leading up to the MV Dali / Francis Scott Key Bridge strike, marine casualty investigators noted an extended delay in the automatic startup of the ship's emergency generator. While the small generator was not sufficient in itself to run most major systems, it could provide low-speed hydraulic power to turn the rudder slowly - and could have provided that vital capability much sooner if it had started within standard time parameters, illustrating the importance of...

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Sang Yi

Sang Yi Leaves MARAD to Become President and CEO of Port Trade Group AAPA

Published May 5, 2026 4:42 PM by The Maritime Executive

Sang Yi, a naval reserve officer with a merchant mariner’s license who had been at the leadership of the U.S. Maritime Administration (MARAD) for the past 11 months, was named, effective immediately, the new president and chief executive officer of the American Association of Port Authorities (AAPA). Yi will lead the port association’s work to advance policies that support modern, safe, efficient, and competitive ports at a time when the U.S. maritime industry remains under pressure and looks to the...

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Offshore

South Korean offshore wind farm

Military Permit Derails South Korea’s Anma Offshore Wind Project

Technical hurdles have been a primary risk in the development of offshore wind projects around the world. In South Korea, however, a non-technical issue is derailing the Anma offshore wind farm, proving how regulatory barriers could affect a project already in the construction phase. Anma is a 532 MW offshore wind farm project located 24 miles west of the South Korean Peninsula’s southwestern coastline. The $3.5 billion project was one of the successful bids on the 2024 fixed-price wind power...

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Shipbuilding

Mangalia shipyard Romania

Rheinmetall and MSC in Negotiations to Buy Romania’s Mangalia Shipyard

German industrial giant Rheinmetall confirmed it is discussing a deal with MSC Mediterranean Shipping Company for the two companies to take over the bankrupt Mangalia shipyard in Romania. A year ago, MSC had expressed interest in the yard as the government was beginning a reorganization of the operations. Romanian government officials are reported to be negotiating a deal in which Rheinmetall and MSC would acquire the majority ownership in the yard, with the government retaining a small investment share. The...

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Environment

ship emitting smoke

IMO Adopts World’s Largest Emission Control Area and Other Issues at MPEC

While much of the Marine Environment Protection Committee (MPEC 84) was bogged down with political positioning and stalling tactics, the International Maritime Organization (IMO), however, reports decisions on a number of key initiatives, including the North-East Atlantic Control Area (ECA) as well as efforts on plastics and ballast water. The new Atlantic ECA is being billed as the world’s largest emission control area, extending the efforts in Northern Europe with a far broader reach. The efforts for the ECA had...

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Business

Koru (press handout courtesy Oceanco)

Jeff Bezos is Reported to be Selling the World's Largest Sailing Yacht

Gossip column Page Six has obtained confirmation that Amazon founder Jeff Bezos is selling is megayacht, the $500 million sailing vessel Koru. The reason, according to the outlet's sources, is that the vessel has become "too recognizable" for the multibillionaire tech executive. Koru is among the world's most distinctive yachts - and not just because of her imposing three-masted silhouette, her 417-foot length or her elegant counter stern. Famously, the yacht's prow features a life-size bust of Bezos' second wife,...

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