Tuesday, August 04, 2026
Media Kit
Turkish vessel ablaze in the Black Sea

Turkey Calls on Russia and Ukraine to Ensure Safe Navigation in Black Sea

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Throngs of ships at anchor off Fujairah, July 2026 (Sentinel-2 / ESA)

Fortunes Buoyed by Hormuz Crisis, Clarksons Posts a Record First Half

Published Aug 3, 2026 10:14 PM by The Maritime Executive

Its fortunes buoyed by conflict in the Mideast, world-leading shipbroking firm Clarksons is having a spectacular year, posting its best-ever results for the first half and predicting a better-than-expected finish to 2026. War is usually good for shipping, within limits, and brokers are well-placed to benefit. For Clarksons, the disruption at Hormuz in the first six months of the year yielded a 38 percent jump in revenue and an underlying profit of $83 million, a company record for the first...

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HMM is among the carriers most invested in owning its fleet (HMM file image)

Top Container Lines Lean Towards Ownership Over Chartering

Published Aug 3, 2026 8:29 PM by The Maritime Executive

At the outset of the pandemic, ocean carriers chartered-in the majority of their tonnage, giving them the flexibility to grow or shrink their fleets as needed to match demand. That capital-light structure has now reversed itself: on average, the 12 largest ocean carriers now own the majority of their operated capacity - about 63 percent of all slots in total, according to Sea-Intelligence. The decision to build or charter-in varies by container carrier, and each has its own strategy. Israel's...

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Seafarers

Seafarer Happiness Under Pressure Due to Workload and Wages

Published Aug 3, 2026 7:06 PM by The Maritime Executive

The Seafarer Happiness Index continues to slip, reports The Mission to Seafarers, not only due to the shocks from the war in the Persian Gulf but also from persistent issues that are steadily eroding crew morale. After seeing an upward trend, the index has slipped over the past two quarters, with the organizers of the survey highlighting issues ranging from workload and lack of time ashore to the financial pressures coming from perceptions of stagnant real-wage buying power. The overall...

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Full berths at Al Muajjiz, south of Yanbu, August 1 (Copernicus / Sentinel-2 / ESA)

Despite Houthi Threats, Saudi Tanker Terminal Carries On

Published Aug 3, 2026 6:50 PM by The Maritime Executive

The Houthi blockade on Saudi seaports produced visible results last month, cutting daily exports by as much as 40 percent, but shipping appears to be moving through and past the threat zone in recent days. Iran-backed Houthi militants hit multiple tankers last month with antiship missiles, including NCC Masa, Encelia, Layla (unconfirmed) and NCC Ghazal - all Saudi-owned and Saudi-flagged. The militant group also hit the Saudi refinery at Jizan and the crude processing station at Abqaiq. Most traffic has...

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Offshore

wind turbine installation vessel Charybdis

Dominion Energy Makes Progress on Offshore Wind but Delays Completion Date

The largest offshore wind energy project in the United States, Coastal Virginia Offshore Wind (CVOW), continues to make good progress with its construction and installation, Dominion Energy told investors during its quarterly update. The company reports the project has passed the 80 percent completion mark and is generating a significant amount of electricity, but it has extended the target completion date to the end of 2027 and added approximately two percent to the budget. “The strategic value of CVOW hasn’t...

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Shipbuilding

Courtesy TISG / CC BY SA 4.0

Distressed Luxury Yacht Builder Italian Sea Group Plans Equity Raise

Luxury yacht builder The Italian Sea Group has posted a net loss for 2025, and despite a plan to issue shares to bring in more capital, its board of directors has flagged "significant uncertainties . . . regarding the company's ability to continue as a going concern." TISG's financial standing has been deteriorating since 2025 due in part to a $70 million increase in costs, which its board of directors attributes to "operational inefficiencies" and "misconduct on the part of...

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Environment

Whales

Fiber-Optic Cables Can be Used to Track "Silent" Bow Wave Vibrations

[By Nancy Bazilchuk] A 100-year-old equation and a fibre-optic cable off the coast of Svalbard led researchers to discover they could detect swimming whales — even if they were completely silent. The discovery broadens the tools that biologists could someday use to detect and monitor these marine giants. Fibre-optic cables lace the planet’s oceans, carrying everything from telephone conversations to banking information. In 2020, NTNU researchers figured out that those cables can also serve as a passive listening device, allowing...

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Business

Dali and wreckage of Francis Scott Key Bridge

US Court Says Dali Lawsuit Against Hyundai Should Be Heard Elsewhere

Shipbuilder Hyundai Heavy Industries won a court decision on August 3 in a suit brought against it by the owners and operators of the containership Dali regarding defects in the construction of the vessel. The court dismissed the case on a legal ground that finds another location is much more convenient and proper for the suit, and not on the merits of the claims. Grace Ocean, as the owner of the Dali, and Synergy Marine, as the operator of the...

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