Friday, January 23, 2026
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oil tanker

US Treasury Sanctions Tankers in the Name of Helping Iranian Protestors

Published Jan 23, 2026 2:58 PM by The Maritime Executive

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced on Friday, January 23, that it is increasing pressure on Iran by sanctioning nine additional tankers and their respective owners. In announcing the action, Treasury Secretary Scott Bessent said it was going after Iran’s funding to increase pressure as the regime is killing peaceful protestors. The announcement said the actions were to support the protestors, citing the crackdown by the Iranian regime and the shutdown of the...

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Bayesian

Shipbuilder Sues Owner of Lost Superyacht Bayesian

Published Jan 22, 2026 10:44 PM by The Maritime Executive

The builder of the lost superyacht Bayesian has filed a $500 million lawsuit against a company held by Angela Bacares, widow of tech billionaire Mike Lynch, who owned the vessel and was killed in the sinking. The shipbuilder alleges that the crew of the vessel caused the sinking through negligence, thereby damaging the builder's reputation and causing the loss of valuable business relationships. Bayesian capsized and sank at anchor in a sudden squall at Porticello, Sicily on August 19, 2024....

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California Forever Solano County

Tech-Sector Developer Has Grand Plans for a Bay Area Shipyard

Published Jan 22, 2026 10:41 PM by The Maritime Executive

A well-financed real estate development company in California has ambitions to build a new West Coast shipyard, comparable in size and scale to the largest in China. California Forever, a mega-scale property developer backed by some of the biggest names in tech, is known for its plans to build a vast manufacturing park northeast of San Francisco. The 2,100-acre Solano Foundry would be a place for high-tech manufacturers to set up shop, just an hour north from the engineering expertise...

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methanol-fueled containership

CMA CGM on Track with Growth as it Puts 400th Owned Ship in Service

Published Jan 22, 2026 8:29 PM by The Maritime Executive

French carrier CMA CGM highlights that it will be putting its 400th owned ship (in a fleet of over 650 vessels) into service as it continues its growth strategy. The company highlighted its status as the first vessel in a new series of methanol dual-fuel vessels, and as it continues on track to surpass Maersk as the second-largest global container carrier. CMA CGM reports that its operations serve more than 420 ports across five continents, and in 2024, it transported...

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Offshore

offshore wind farm components prepared for installation

First Towers and Turbines Installing for Virginia Offshore Wind Farm

Just days after a U.S. District Court judge agreed to issue a temporary injunction to let work resume on Virginia’s offshore wind farm, work is underway with the first towers and wind turbines being installed. Dominion Energy’s Coastal Virginia Offshore Wind is the largest project in the United States and is using the only U.S.-built wind turbine installation vessel. Virginia’s Senator Tim Kaine reported the process on January 21 after having toured the Portsmouth Marine Terminal and received an update...

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Shipbuilding

Indonesia shipbuilding

Indonesian Frigate Order Reflects SE Asian Naval Modernization

During a visit of Indonesian President Prabowo Subianto to the United Kingdom last week, a Letter of Intent was signed by the Indonesians with David Lockwood, CEO of Babcock, for licenses to build two further general purpose frigates drawing on the Arrowhead 140 design. The Arrowhead 140 design forms the basis of the Babcock Type 31 frigates ordered by the Royal Navy and by Poland, and which are also in contention for orders from Denmark and Sweden. The first two...

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Environment

European ferries

Interferry Demands Pause for EU ETS Due to Inequities and Use of Funds

Interferry, the global trade association for the ferry industry, is calling for an immediate halt to the further phasing-in of the EU Emissions Trading System (ETS) for the maritime sector. The group is citing inequities and a severe competitive disadvantage as road transport remains exempt from the program. Further, it alleges that a lack of a funding scheme for e-fuels and investments such as electrification means the monies are instead being diverted to national member state budgets. The trade group...

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Business

methanol-fueled containership

CMA CGM on Track with Growth as it Puts 400th Owned Ship in Service

French carrier CMA CGM highlights that it will be putting its 400th owned ship (in a fleet of over 650 vessels) into service as it continues its growth strategy. The company highlighted its status as the first vessel in a new series of methanol dual-fuel vessels, and as it continues on track to surpass Maersk as the second-largest global container carrier. CMA CGM reports that its operations serve more than 420 ports across five continents, and in 2024, it transported...

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