Monday, March 02, 2026
Media Kit
Iran Bandar Abbas harbor

Bandar Abbas Naval Harbor Smoking from Multiple Hits

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On AIS, container ships (brown) gathered in port or at anchorages in the Arabian Gulf early March 2; none were broadcasting in the Strait of Hormuz (Courtesy Pole Star Global)

Container Lines Adjust to New Risks in Strait of Hormuz and Red Sea

Published Mar 1, 2026 11:02 PM by The Maritime Executive

Following the exchange of attacks between Iran, its neighbors and American forces in the Mideast, ocean carriers are proceeding with caution. For safety, many have paused Hormuz transits for now. In addition to the risk to business operations and seafarers, there is an additional factor: War risk insurance increases are on the way for voyages through the Strait of Hormuz, and per-TEU pricing will have to adjust. Hapag-Lloyd announced Sunday that it is imposing a war risk surcharge effective March...

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Mein Schiff 4 (file image courtesy VesselFinder / Tobias Elsen)

Cruise Lines Navigate Gulf Conflict Amidst Continued Iranian Strikes

Published Mar 1, 2026 10:45 PM by The Maritime Executive

Given the centrality of the oil trade to the GCC states, tankers have rightfully received the most attention of any vessel class in the new conflict in the Gulf. But cruising is increasingly popular in the region, and at least half a dozen cruise ships are in the affected area - including some which may be staying longer than expected due to ongoing Iranian strikes. One of these vessels is newly homeported in the region. The Saudi cruise ship Aroya...

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Fire at oil terminal

Ukraine Carries Out Another Strike on Russia's Novorossiysk Oil Terminal

Published Mar 1, 2026 9:38 PM by The Maritime Executive

Amidst ongoing back-and-forth strikes between Iran, its neighbors and U.S. forces, Ukraine has carried on with its campaign of long-range attacks on Russian oil infrastructure. On Sunday, Ukraine's drone operators appear to have hit an oil terminal at the port of Novorossiysk once again, the latest strike in a series of actions intended to slow down Russia's revenue-generating energy exports and shrink the Kremlin's war chest. Russian Telegram news channel Astra reports that Ukraine hit an oil terminal in the...

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U.S. Navy warships escort a reflagged tanker during the last full-scale wartime disruption of the Persian Gulf shipping lanes, Operation Earnest Will, 1987 (USN)

What Would Closure of the Strait of Hormuz Mean for Shipping?

Published Mar 1, 2026 6:01 PM by The Conversation

[By Sarah Schiffling] The reported sinking of several Iranian warships by US missiles in the Gulf of Oman serves as a reminder of the maritime aspect of the conflict which began February 28 with a barrage of Israeli and American missiles targeting Iran. Two other vessels, believed to be tankers, have also been reported as having been hit by missiles, of an as yet undetermined source, in the vicinity of the Strait of Hormuz, underlining the importance of this vital...

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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

Canadian-flagged Great Lakes bulker

Algoma Central Buys Mainstay Maritime’s Canadian Great Lakes Shipping

Canada’s Algoma Central, already one of the largest dry and liquid bulk carriers for the Great Lakes-St. Lawrence region, has agreed to buy three Canadian operating companies and six Canadian-flagged Lakers from Mainstay Maritime (formerly Rand Logistics). The transaction will permit each company to expand its Great Lakes operations under its respective flags. Mainstay Maritime is the newly launched brand name for the former Rand Logistics, and after the acquisition by Oaktree Capital completed in 2023, and the spinout with...

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