Video: OOCL Boxship Docks in California with Collapsed Container Stack

As U.S. Applies Force in Hormuz, European Powers Support Post-War Security

Published Mar 19, 2026 6:32 PM by The Maritime Executive

On Thursday, following a broad rejection of the White House's appeal for help in reopening the Strait of Hormuz, a coalition of six allied nations released a statement supporting action to protect shipping in the contested waterway - leading to immediate confusion. "I have read completely erroneous interpretations of the document approved today by some European and non-European nations, including Italy," said Italian defense minister Guido Crosetto, referring to a joint release approving action in Hormuz. The miscommunication may have...

Genco Rejects Diana’s Revised Offer Citing Value and “Fire Sale” of Ships

Published Mar 19, 2026 6:26 PM by The Maritime Executive

The battle to further consolidate the dry bulk segment continues with Genco Shipping & Trading announcing that its board unanimously rejected the revised, non-binding indicative proposal from Diana Shipping to acquire the company. Two weeks ago, Diana had increased its offer while detailing financial commitments and saying that after closing, it would sell 16 Genco vessels to Star Bulk. “Our board reviewed and rejected Diana’s revised proposal and determined that it is substantially below Genco’s intrinsic value and fails to...

Filing Confirms MSC is Buying into Sinokor and Behind Tanker Buying Spree

Published Mar 19, 2026 5:23 PM by The Maritime Executive

Public filings in Cyprus and Greece are ending months of speculation, providing the first confirmation that the Aponte family and MSC Mediterranean Shipping are in fact linked to a sudden and dramatic wave of tanker acquisitions that began in late 2025. South Korea’s Sinokor Maritime was the name associated with the buying spree of very large crude carriers, while speculation linked the money and the ultimate buyer as MSC. It has now been revealed that MSC, through its SAS Shipping...

Strike on the Ras Laffan complex, March 18 (Qatari social media)

Damage to World's Largest LNG Plant Could Take 3-5 Years to Fix

Published Mar 19, 2026 4:44 PM by The Maritime Executive

The Iranian strikes on Ras Laffan yesterday hit the world's biggest LNG export plant, and Qatari officials say that the damage was so extensive that it will take years to fully recover. The strike on Ras Laffan is the most significant kinetic attack on an LNG facility in decades, perhaps ever, and some analysts have been caught by surprise at the extent of the work required to bring it back online. LNG plants are capital-intensive, engineering-heavy installations. Export projects all...

Shipping

Hapag and India Plan Cooperation for Reflagging Ships, Recycling, and Ports

Hapag-Lloyd has become the latest among the largest carriers to map out a strategy of cooperation and expansion with India. The liner company reports it already has six dedicated services that include India and that it aims to grow volumes handled in the India area to around 3 million TEU by 2030. India has been anxious to attract the major carriers as part of its strategy to expand its maritime related industries. It hopes to attract the lines to build...

Tugs & Salvage

NTSB: Bulker Grounded Due to “Expectation Bias" and Lack of Communications

The National Transportation Safety Board released its final report on the grounding of a bulker near Philadelphia in the Delaware River, saying it believes the pilot made errors based on his expectations instead of what was actually happening with the vessel. Further, it cites poor communications as part of the lack of bridge resource management. The incident happened on the evening of January 8, 2025, as the Algoma Verity (50,259 dwt), a modern self-unloader bulker, was transiting north on the...

Government

Bessent: U.S. May Allow Iran to Sell Oil in Order to Increase Supply

The U.S. government may soon release additional barrels from its strategic reserves to calm oil markets amidst the closure of the Strait of Hormuz, and might even relax its "maximum pressure" sanctions on Iranian oil in order to free up more barrels on the water, Secretary of the Treasury Scott Bessent said Thursday. The turnaround on Iranian oil sanctions would be a reversal, and a swift one. Just three weeks ago, U.S. forces boarded and seized a shadow fleet tanker...

Corporate News

CSM Energy Marks Milestone for Next-Gen Onshore and Offshore Wind Vessel

[By: CSM Energy] CSM Energy has marked a significant milestone in the development of the next generation of onshore and offshore wind service vessels, following a strategic project workshop and the successful steel cutting of the C-CSOV (Commissioning Service Operation Vessel) JOULE. CSM Energy, part of Columbia Group, recently hosted the workshop in Limassol, Cyprus, which brought together key project partners including Deutsche Offshore, Schoeller Holdings, CSM Energy (CSME), CSM Cyprus (CSM CY), and Columbia Signature. The workshop provided an...

Cruise Ships

World’s Largest Sail Yacht Cruise Ship Sets New Mark on Trials

The sail-powered cruise ship Orient Express Corinthian recently completed its propulsion tests, and builder Chantiers de l’Atlantique reports the ship achieved a speed first for a sailing ship of its size. The ship is preparing for its delivery and entry into service in May 2026 as Accor Group launches its first cruise offering. The Orient Express Corinthian is a 25,200 gross ton cruise ship that will have 54 suites with a capacity for 110 passengers. The ship measures 220 meters...

Ports

Saudi Arabia Loses Patience as Red Sea Terminal and Refinery are Targeted

Saudi Arabia’s Foreign Ministry spoke out on Thursday, March 19, saying that any “trust with Tehran has been shattered” after reporting that the capital of Riyadh, along with the critical Yanbu oil terminal on the Red Sea and the neighboring refinery, had all been targeted. The state-owned oil company Aramco has been rushing to increase exports from Yanbu to offset its lost capacity on the Persian Gulf. The Ministry of Defense confirmed that a drone “crashed in the SAMREF refinery.”...

Shipping

Hapag and India Plan Cooperation for Reflagging Ships, Recycling, and Ports

Tugs & Salvage

NTSB: Bulker Grounded Due to “Expectation Bias" and Lack of Communications

Government

Bessent: U.S. May Allow Iran to Sell Oil in Order to Increase Supply

Corporate News

CSM Energy Marks Milestone for Next-Gen Onshore and Offshore Wind Vessel

Cruise Ships

World’s Largest Sail Yacht Cruise Ship Sets New Mark on Trials

Ports

Saudi Arabia Loses Patience as Red Sea Terminal and Refinery are Targeted

Offshore

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...

Shipbuilding

Fincantieri Floats for Viking "First Hydrogen-Powered Cruise Ship"

Fincantieri marked another milestone in cruise ship development as it floated out the Viking Libra (54,300 gross tons), which is being billed as the “world’s first hydrogen-powered cruise ship.” It advanced the ambitions for zero-emission shipping and the long-held vision of Viking CEO Torstein Hagen to produce a hydrogen-powered ship. According to the companies, the project has been developed with strong attention to environmental aspects to ensure the ship will be capable of navigating and operating with zero emissions, allowing...

Environment

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...

Business

Genco Rejects Diana’s Revised Offer Citing Value and “Fire Sale” of Ships

Maritime Industry Conferences and Events

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Video: OOCL Boxship Docks in California with Collapsed Container Stack

As U.S. Applies Force in Hormuz, European Powers Support Post-War Security

Genco Rejects Diana’s Revised Offer Citing Value and “Fire Sale” of Ships

Filing Confirms MSC is Buying into Sinokor and Behind Tanker Buying Spree

Damage to World's Largest LNG Plant Could Take 3-5 Years to Fix

Hapag and India Plan Cooperation for Reflagging Ships, Recycling, and Ports

NTSB: Bulker Grounded Due to “Expectation Bias" and Lack of Communications

Bessent: U.S. May Allow Iran to Sell Oil in Order to Increase Supply

CSM Energy Marks Milestone for Next-Gen Onshore and Offshore Wind Vessel

World’s Largest Sail Yacht Cruise Ship Sets New Mark on Trials

Saudi Arabia Loses Patience as Red Sea Terminal and Refinery are Targeted

Port Everglades: A Diversified Cargo Gateway Built for Performance

One Net Unifies Four Maritime Tech Brands Under One Umbrella

Could Earlier Warning Systems be the Answer to Risk Reduction in Terminals?

Hapag and India Plan Cooperation for Reflagging Ships, Recycling, and Ports

NTSB: Bulker Grounded Due to “Expectation Bias" and Lack of Communications

Bessent: U.S. May Allow Iran to Sell Oil in Order to Increase Supply

CSM Energy Marks Milestone for Next-Gen Onshore and Offshore Wind Vessel

World’s Largest Sail Yacht Cruise Ship Sets New Mark on Trials

Saudi Arabia Loses Patience as Red Sea Terminal and Refinery are Targeted

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

Fincantieri Floats for Viking "First Hydrogen-Powered Cruise Ship"

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

Genco Rejects Diana’s Revised Offer Citing Value and “Fire Sale” of Ships

Maritime Industry Conferences and Events

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Maritime Industry Conferences and Events