Three Dead, Ship Sinking After Latest Houthi Attack

Former STX Shipyard For Sale as Investors Seek to Cash Out After Turnaround

Published Jul 8, 2025 5:28 PM by The Maritime Executive

Once one of the leading shipbuilders in South Korea, the former STX Yard, which was relaunched as K Shipbuilding, is celebrating a remarkable turnaround. According to a report in The Korean Economic Daily, after having posted its first profit in 14 years, the investment group with revived the shipbuilder is now looking to cash out. KHI Investment and United Asset Management Company (UAMCO), South Korea's biggest bad debt investor, took control of the troubled shipbuilder in 2021, paying more...

Canada Grants Investigational Permit for West Coast Offshore Wind Farm

Published Jul 8, 2025 4:46 PM by The Maritime Executive

Canada granted an investigative Use Permit to Oceanic Wind Energy for what could become the country’s first offshore wind farm. The company, which is in partnership with a First Nation company, Coast Tsimshian Enterprises, is calling the permit a milestone in its effort to advance offshore energy to power the growing industrial areas of Northwest British Columbia. The plan calls for developing a 600 to 700 MW offshore wind farm that would be just west of Stephens Island...

A Ukrainian suicide drone hits a Russian Navy corvette in the Black Sea, 2024 (GUR)

Strained by War, the Russian Navy is a Shadow of its Former Self

Published Jul 8, 2025 3:48 PM by The Maritime Executive

Russia’s Navy is facing huge pressures, primarily as a byproduct of President Putin’s over-ambitious attempts to claim great power status. The most obvious pinch-point is in the Black Sea, where Russia’s fleet has pulled back out of danger and forced into distant ports, primarily by the effectiveness of Ukrainian drone attacks. Even more astonishing because Ukraine lost most of its obsolescent naval vessels in early rounds of the conflict, the net effect is that Russia has lost control of...

Davie Buys Second Finnish Shipyard to Integrate Operations

Published Jul 8, 2025 3:46 PM by The Maritime Executive

Canada’s Davie shipbuilding is buying a second, smaller shipyard in Finland as it looks to integrate its operations, focusing on Arctic projects, including large icebreakers. The Mantyluoto shipyard in Pori, Finland, will be integrated with the Helsinki Shipyard, which David acquired at the end of 2023. The shipyard is being acquired from Finnish energy company Enersense at a cost of €7.5 million, with the acquisition expected to be completed by the end of September 2025. Enersense acquired the...

Shipping

India Detains MSC Ship as it Seeks $1B in Compensation for MSC Elsa 3

The Kerala State Government in India followed through on its earlier assertions and filed a compensation claim in the courts against MSC for damages as a result of the loss of the MSC Elsa 3 off the coast in late May. As part of the claim, the High Court ordered the MSC Akiteta II, which was in port in India, detained until the company can post a bond in the case. The admiralty court case seeks damages,...

Tugs & Salvage

Storm damage in Split (courtesy Marjan Forest Park)

Ferry Sinks Passenger Vessel After Going Adrift in Severe Storm in Croatia

On Tuesday morning, a sudden storm swept over the coast of Croatia, tearing down trees and disrupting traffic - and sending a runaway ferry careening into a line of moored passenger vessels. At the port of Split, Croatia, the ferry Petar Hektorovi? was tied up at the pier when the storm hit. In unexpectedly high winds, its lines parted, and it drifted into two vessels. First it made contact with a catamaran, then struck a tourist excursion vessel, which was...

Government

The bulker Matthew makes a hard turn to port as an Irish Air Force helicopter holds position over its bow (Irish Defence Forces)

Eight People Sentenced for Record Cocaine Smuggling Attempt Off Ireland

Eight people have been sentenced to spend more than a decade in prison in connection with the 2023 drug bust aboard the merchant bulker Matthew, the largest cocaine seizure in Irish history. In September 2023, Irish authorities received intelligence indicating a planned handoff from the bulker Matthew to the small trawler Castlemore at a designated transfer point off the coast of Cork. Several days in advance, the Irish Navy patrol vessel William Butler Yeats got under way and loitered...

Corporate News

RINA Secures World Bank Project to Advance Green Hydrogen at Port of Pecém

[By: RINA] RINA, the global engineering consulting, inspection and certification company, has secured a high-profile World Bank-funded assignment to help accelerate Brazil’s transition to a low-carbon industrial economy. RINA will deliver a comprehensive water assessment study for securing industrial water for green hydrogen production at the Complexo Industrial e Portuário do Pecém (CIPP), a flagship low-carbon development hub in Brazil. The project will not only support industrial innovation but also contribute to social and environmental equity, improving water access...

Cruise Ships

“Get Out of Here,” Yells French Mayor as Royal Caribbean Ignores Port Ban

The outspoken Mayor of Nice and President of the region took to the water to personally confront the master and an officer of Royal Caribbean International’s Voyager of the Seas for breaking the region’s new ban on large cruise ships. Aboard a police boat with a television news crew, Mayor Christian Estrosi was denied boarding and ignored by the officers, prompting him to yell “Get lost,” “Get out of here,” and “You are nobody,” at the ship. Royal Caribbean...

Ports

South Africa Moves to Ban Strikes for Some Port Workers

South Africa’s government is moving to forestall port strikes, which in the past have left a massive dent to the country’s economy. In a new directive, the Department of Labor is proposing to expand its list of essential services to include port operations. This step would ban strikes for certain categories of employees of Transnet, the national port and rail authority. The government directive suggests that marine services, including navigation, pilotage, towage and berthing, will be listed as essential...

Shipping

India Detains MSC Ship as it Seeks $1B in Compensation for MSC Elsa 3

Tugs & Salvage

Ferry Sinks Passenger Vessel After Going Adrift in Severe Storm in Croatia

Government

Eight People Sentenced for Record Cocaine Smuggling Attempt Off Ireland

Corporate News

RINA Secures World Bank Project to Advance Green Hydrogen at Port of Pecém

Cruise Ships

“Get Out of Here,” Yells French Mayor as Royal Caribbean Ignores Port Ban

Ports

South Africa Moves to Ban Strikes for Some Port Workers

Offshore

Canada Grants Investigational Permit for West Coast Offshore Wind Farm

Shipbuilding

Davie Buys Second Finnish Shipyard to Integrate Operations

Environment

HGK Launches First Inland Cargo Vessel Capable of Sailing With Solar Power

A newly built inland dry goods vessel, Blue Marlin, was named last week in Hamburg, Germany, and became the world’s first hybrid solar-power inland shipping vessel, as well as receiving a designation for remote-controlled operations. The solar system aboard the ship advances on prior low-voltage systems that are supplying power for onboard systems and provides the first capability to contribute solar power to propulsion. The vessel has several unique capabilities, starting with its 192 solar panels, which are...

Business

Former STX Shipyard For Sale as Investors Seek to Cash Out After Turnaround

Maritime Industry Conferences and Events

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Three Dead, Ship Sinking After Latest Houthi Attack

Former STX Shipyard For Sale as Investors Seek to Cash Out After Turnaround

Canada Grants Investigational Permit for West Coast Offshore Wind Farm

Strained by War, the Russian Navy is a Shadow of its Former Self

Davie Buys Second Finnish Shipyard to Integrate Operations

India Detains MSC Ship as it Seeks $1B in Compensation for MSC Elsa 3

Ferry Sinks Passenger Vessel After Going Adrift in Severe Storm in Croatia

Eight People Sentenced for Record Cocaine Smuggling Attempt Off Ireland

RINA Secures World Bank Project to Advance Green Hydrogen at Port of Pecém

“Get Out of Here,” Yells French Mayor as Royal Caribbean Ignores Port Ban

South Africa Moves to Ban Strikes for Some Port Workers

Transforming Post-Fixture Operations for Shipbrokers

Harnessing Data to Shape a Fleetwide Decarbonization Path

Maersk Selects Wärtsilä Intellisafe® Bearing and Monitoring System

India Detains MSC Ship as it Seeks $1B in Compensation for MSC Elsa 3

Ferry Sinks Passenger Vessel After Going Adrift in Severe Storm in Croatia

Eight People Sentenced for Record Cocaine Smuggling Attempt Off Ireland

RINA Secures World Bank Project to Advance Green Hydrogen at Port of Pecém

“Get Out of Here,” Yells French Mayor as Royal Caribbean Ignores Port Ban

South Africa Moves to Ban Strikes for Some Port Workers

Canada Grants Investigational Permit for West Coast Offshore Wind Farm

Davie Buys Second Finnish Shipyard to Integrate Operations

HGK Launches First Inland Cargo Vessel Capable of Sailing With Solar Power

Former STX Shipyard For Sale as Investors Seek to Cash Out After Turnaround

Maritime Industry Conferences and Events

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