Thursday, March 19, 2026
Media Kit
NASA FIRMS infrared data for Ras Laffan, March 18. Orange sections indicate heat signatures less than three hours old (NASA)

Iran Damages Ras Laffan LNG Terminal, Sending EU Energy Prices Soaring

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Port of Virginia file

Port of Virginia Completes Project to Dredge East Coast's Deepest Harbor

Published Mar 18, 2026 8:38 PM by The Maritime Executive

The Port of Virginia and its contractors have finished work on the deepest shipping channel and harbor on the U.S. East Coast, the linchpin of the port's ambitions to become the most modern and competitive container port on the Eastern Seaboard. The gigantic dredging project was approved by the USACE in 2018, and construction started in 2023. The long-term objective is to make the port hospitable for ultra-large container vessels, the biggest boxship class in the Atlantic trade lanes. ULCVs...

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Erik Hanell

Erik Hanell to Step Down as CEO of Stena Bulk

Published Mar 18, 2026 7:12 PM by The Maritime Executive

Erik Hanell, longtime CEO of Stena Bulk, will be stepping down at the end of the year after more than a decade in the top role. Hanell is a former mariner and a 27-year veteran of the Stena group of companies, and he has been in charge of the wet bulk division for the last 14 years. Stena Bulk extended its thanks to Hanell for steering the company through changing markets with a "rare combination of commercial discipline, long-term thinking,...

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MOL new product tanker

Activist Shareholder Elliott Targets Mitsui OSK Lines

Published Mar 18, 2026 7:08 PM by The Maritime Executive

The well-known activist shareholder group Elliott Investment Management reported it has acquired a “significant investment” in Mitsui O.S.K. Lines. Recognized as one of the largest activist investors, it is reported to have nearly $80 billion in assets managed or advised through a series of funds. In a brief statement on March 17, it reported the investment in MOL, without disclosing the size of its position. It recognized the company’s long track record (the company has been in business for over...

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South Korean shipbuilder

Hormuz Stop Could Have Knock-on Effect on South Korean Shipbuilding

Published Mar 18, 2026 5:22 PM by The Maritime Executive

South Korea is reporting that one of the knock-on effects of the stoppage of energy exports from the Middle East is threatening parts of its shipbuilding industry. The government has been working to clarify the extent of the problem while also supporting efforts to find alternative sources of naphtha, a refined crude oil product. The imported naphtha is cracked at South Korea’s petrochemical plants to produce ethylene. While only accounting for a small portion of the market, Business Korea reports...

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Offshore

OMSA

In the Know Podcast 77: Aaron Smith, President and CEO of OMSA

For the latest edition of In the Know, The Maritime Executive's podcast series, editor-in-chief Tony Munoz spoke with OMSA President and CEO Aaron Smith about the importance of Jones Act shipping in the offshore sector. OMSA - the Offshore Marine Service Association - is the voice of the U.S. offshore-vessel industry, and its primary mission is to protect the Jones Act's benefits for American mariners and shipowners. Smith, the organization's longtime leader, joins the podcast to talk about how loopholes...

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Shipbuilding

Scottish ferry design

Scotland’s CMAL Selects Chinese Yard to Build Freight Flex Ferries

The Scottish government-owned ferry company Caledonian Maritime Assets Limited (CMAL) reported it has concluded a project that began in September 2024 by selecting China’s Guangzhou Shipyard International as the lead bidder for two new ferries. The project is seen as a key part of the efforts to modernize and expand ferry operations in the northern part of Scotland, with the new vessels scheduled to run between Orkney and Shetland. “GSI’s bid demonstrated a commitment to innovation and efficiency, and we...

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Environment

Thamesborg

Op-Ed: Ships Should Meet the Polar Code Before Entering Canadian Arctic

The United Nations International Maritime Organization (IMO) adopted the Polar Code in November 2014 to reduce loss of life at sea caused by inadequate preparedness for operations in polar regions, which are more isolated and challenging than lower-latitude waters. The Code entered into force on January 1, 2017 and initially applied to seagoing vessels of 500 gross tonnage (GT) and above, as well as certain vessel classes such as cruise ships. On January 1, 2026, the IMO expanded the categories...

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Business

Erik Hanell

Erik Hanell to Step Down as CEO of Stena Bulk

Erik Hanell, longtime CEO of Stena Bulk, will be stepping down at the end of the year after more than a decade in the top role. Hanell is a former mariner and a 27-year veteran of the Stena group of companies, and he has been in charge of the wet bulk division for the last 14 years. Stena Bulk extended its thanks to Hanell for steering the company through changing markets with a "rare combination of commercial discipline, long-term thinking,...

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