Wednesday, November 26, 2025
Media Kit
Constellation-class frigate

U.S. Navy Cuts Constellation-Class Frigate, But Pledges Support for FMG

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Handshake

UK P&I and TT Club Begin Talks for Insurance Mega-Merger

Published Nov 25, 2025 7:52 PM by The Maritime Executive

  The UK P&I Club has announced plans to merge with affiliated firm TT Club, a major port insurer managed by the same enterprise, Thomas Miller. The two mutual insurers have a long working relationship and believe that a full integration will add new strength and scale for their respective customers. The combined enterprise would be the largest mutual of its kind in maritime.  "Both Clubs are highly respected in their own markets and combining the two accelerates progress towards...

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Belgium ports

National Strike Again Closes Belgium’s Ports and Halts Inland Cargo Ships

Published Nov 25, 2025 7:29 PM by The Maritime Executive

Belgium’s three main labor unions banded together into what is likely the largest of the strikes over the past 10 months, protesting the country’s austerity budget. Ocean-going shipping and inland cargo operations have ground to a halt along with trains, airports, and many services, with officials warning the strike is expected to culminate on Wednesday, November 26, in a nationwide effort that could paralyze Belgium. The country has faced many strikes since the new coalition government was formed...

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Chinese cruise ship

China Consolidates Cruise Business as it Looks to Expand Domestic Market

Published Nov 25, 2025 6:08 PM by The Maritime Executive

The China Tourism Group reports that it will be leading an effort to boost the cruise ship market that includes the consolidation of the management of the various brands that have been launched in China. It is one of several initiatives by the Chinese government to consolidate industries where it sees strong potential but believes have lagged in performance. A new company called Huaxia was launched as a subsidiary of China Tourism and China COSCO Shipping Group, and...

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Citgo's Lamont refinery (Michael Kappel / CC BY)

Court Paves Way for Sale of Venezuelan-Owned Refiner Citgo

Published Nov 25, 2025 5:14 PM by The Maritime Executive

  As the U.S. military prepares for likely action in Venezuela, a judge in Delaware has approved the sale of Venezuelan-held Citgo Petroleum, bringing relief for creditors who lost billions when the Venezuelan government defaulted on debts.  The bid by Amber Energy, a division of hedge fund Elliott Investment Management, offers a total of $5.9 billion in cash and $2.9 billion in debt settlements for the sale of PDV Holding. PDV is the parent company of Citgo Petroleum, America's seventh-largest refiner....

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Offshore

Citgo's Lamont refinery (Michael Kappel / CC BY)

Court Paves Way for Sale of Venezuelan-Owned Refiner Citgo

  As the U.S. military prepares for likely action in Venezuela, a judge in Delaware has approved the sale of Venezuelan-held Citgo Petroleum, bringing relief for creditors who lost billions when the Venezuelan government defaulted on debts.  The bid by Amber Energy, a division of hedge fund Elliott Investment Management, offers a total of $5.9 billion in cash and $2.9 billion in debt settlements for the sale of PDV Holding. PDV is the parent company of Citgo Petroleum, America's seventh-largest refiner....

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Shipbuilding

USCG vessel under construction

GAO Repeats Criticism of the USCG Program to Build Offshore Patrol Cutters

The Government Accountability Office has issued a new report on the U.S. Coast Guard’s program to build the Offshore Patrol Cutters and once again has criticized the approach and ballooning costs of the program. It is the third report developed by the GAO on the program and reiterates many of the same concerns that were raised in 2023, while also pointing out that no ships have yet been delivered and the uncertainties in the program. The new audit...

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Environment

Arctic melting ice

Op-Ed: Arctic States Have Less Than Two Weeks to Act on Polar Fuels

  The Arctic is warming four times faster than anywhere else on Earth, and this is a warning sign for elsewhere on the planet. The shipping sector has been gifted an opportunity to cut black carbon emissions from shipping in the region, which would have a near-immediate positive impact. But time is tight. December 5th is the deadline for countries to submit a crucial proposal for polar fuels, ahead of next February’s meeting of the International Maritime Organization’s Pollution Prevention and...

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Business

Rotterdam

Dutch Employees of Lloyd’s Register Plan Job Action Over Stalled Wage Talks

  Another key sector of the shipping industry is facing a potential job action as a rash of incidents has spread recently from ports to even the office staff of the International Transport Workers’ Federation. The latest ultimatum comes from the Dutch employees of Lloyd’s Register, who have said they will begin targeted actions unless there is meaningful movement in their wage negotiations. Nautilus International, which represents the employees, highlights that as a classification service, Lloyd’s Register provides fundamental services...

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