Dali’s Operator Respond to DOJ as $2.25B Maryland Settlement is Finalized

CMA CGM Pledges $800 Million Funding to Kenya’s Mombasa Port

Published May 12, 2026 5:41 PM by The Maritime Executive

CMA CGM has announced an investment of $800 million in Kenya’s Mombasa Port. The deal was signed on the sidelines of the Africa Forward Summit in Nairobi early this week, co-hosted by France with President Emmanuel Macron in attendance. The investment will go into upgrading two Mombasa Container Terminals at a time when the Kenyan port is seeing increased cargo flows. Last year, Mombasa Port handled 2.11 million TEUs, recording a growth of 5.5 percent from the previous year. With...

Canada to Discontinue Construction of Nanisivik Arctic Naval Facility

Published May 12, 2026 5:21 PM by The Maritime Executive

Canada is reportedly discontinuing construction at the long-delayed Nanisivik naval refueling station in the High Arctic. The naval project was initially announced in 2007 by the former Prime Minister Stephen Harper, with construction expected to be completed by 2015. Unfortunately, technical challenges and cost increases have left the project in limbo, at a time when Canada is moving to strengthen its sovereignty in the High North. According to a report by the Globe and Mail, Canada’s federal government decided to...

Europe Launches 20th Sanctions Round Against Russia

Published May 12, 2026 5:05 PM by The Maritime Executive

In the wake of reduced Hungarian opposition following recent elections, the European Union has been able to move forward with its $106 billion loan facility for Ukraine. At the same time, the EU has also been able to promulgate its 20th sanctions round targeting Russia and its actions in Ukraine, a package of much wider scope than its predecessors, and a package with a wide impact on the shipping community. Continuing as before, the EU has sanctioned a further 46...

Podcast: Port Everglades CEO Joseph Morris on Seatrade Cruise and IPW 2026

Published May 12, 2026 4:19 PM by The Maritime Executive

In this episode of the In the Know podcast series, news editor Paul Benecki caught up with Joseph Morris, CEO and Port Director of Port Everglades, to discuss the exciting growth in their operations as he comes up on two years leading the port. Following on from the recent Seatrade Cruise Global Conference, Morris talks about upcoming developments and investments as the port continues to build its operations. Morris says that Port Everglades has seen a 60 percent increase in...

Shipping

Europe Launches 20th Sanctions Round Against Russia

Tugs & Salvage

Basel vs. Hong Kong? Why the “Conflict” Narrative Misses the Point

The ongoing debate around ship recycling governance frequently centers on the relationship between the Basel Convention (BC) and the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships (HKC). A recent article; “HKC Certification Can’t Substitute for the Basel Convention”, published by Prof. Dr. Ishtiaque Ahmed, raises some questions about the functioning of, and interaction between, these two UN conventions. In the article, one UN Convention is characterized as an instrument based on strict state-to-state oversight,...

Government

US Moves to Further Increase Economic Pressure on Iranian Oil Trade

With the ceasefire talks stalled, the Trump administration continues to seek to use economic pressure to bring Iran to the negotiating table. The Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced new sanctions, as it appears CENTCOM is also expanding the blockade on ships associated with Iran. Treasury asserts that Iran continues to rely on front companies in permissive economic jurisdictions to obfuscate its role in oil sales and funnel the revenue to the regime. To that...

Corporate News

Marine Money Unveils 2025 Ship Finance “Deals of the Year” Award Winners

[By: Marine Money] Marine Money is pleased to announce the winners of its 22nd annual “Deals of the Year” Awards. A full list of winners is available on the Marine Money website, you can see the list of winners here. Members may also access the complete magazine online here. This information is additionally shared across Marine Money’s social media channels. “In the shipowning business—where significant capital commitments intersect with volatile and unpredictable markets—striking the right deal at the right time...

Cruise Ships

France Quarantines Cruise Ship Due to Reports of GI Virus Aboard

French authorities on Wednesday asked all the passengers and crew aboard a small cruise docked in Bordeaux to remain aboard the ship as a precaution while medical testing was being conducted. While admitting there was no link between this incident and the current response to the hantavirus, the authorities, who are on alert, decided to take the steps due to the contagious nature of GI viruses. The cruise ship Ambition (48,200 gross tons) made a standard medical report to the...

Ports

CMA CGM Pledges $800 Million Funding to Kenya’s Mombasa Port

Shipping

Europe Launches 20th Sanctions Round Against Russia

Tugs & Salvage

Basel vs. Hong Kong? Why the “Conflict” Narrative Misses the Point

Government

US Moves to Further Increase Economic Pressure on Iranian Oil Trade

Corporate News

Marine Money Unveils 2025 Ship Finance “Deals of the Year” Award Winners

Cruise Ships

France Quarantines Cruise Ship Due to Reports of GI Virus Aboard

Ports

CMA CGM Pledges $800 Million Funding to Kenya’s Mombasa Port

Offshore

China Deploys Largest Floating Wind Platform Adapted for Challenging Seas

China has deployed the largest single-unit capacity floating offshore wind turbine system. Developed by Goodwind and the Three Gorges Group, it represents a significant advancement in opening areas with challenging sea conditions for renewable power generation. Assembly of the semi-submersible floating platform was completed in late April at the Tieshan Port in Beihai. It was towed to a position more than 70 kilometers (more than 40 miles) offshore from Yangjiang, Guangdong Province, in southern China, below Hong Kong and Shanghai....

Shipbuilding

USN’s Third and Fourth Ford Supercarriers Face Further Construction Delays

In a now all-too-common occurrence, the United States Navy is reportedly expecting further delays in the construction and delivery of the third and fourth carriers in the Ford class. USNI News broke the details, reporting that the Navy’s Fiscal Year 2027 budget presentation includes the schedule delays. The third carrier of the class, named Enterprise, is now reportedly facing an additional eight-month delay, reports USNI News. Enterprise had been scheduled for delivery in March 2028 but had already seen its...

Environment

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...

Business