Australia Intercepts Two Illegal Fishing Boats
The Australian Border Force (ABF) has acted under Operation BROADSTAFF, intercepting two foreign fishing vessels in the vicinity of Albany Islands, Queensland on February 20.During intelligence led patrols of the region, ABF officers from Maritime Border Command (MBC), working with partner agencies, intercepted two suspected illegal foreign fishing vessels near Cape York.Officers identified 510kg of salt and fishing equipment on board the vessels.
A Welcome Change for the Ship Recycling Industry
International market turmoil from the direct / indirect imposition of global tariffs and related actions saw a crazy Week 8 wind up in 2026, as freight rates and oil prices both moved up and subsequently down, reports cash buyer GMS.As oil rose above USD 63/barrel from last week to well over USD 66/barrel this week, it retreated back down to USD 65.93/barrel by week’s end, amid investors and forecasters…
EU Extends Mandate of Operation ASPIDES
The EU Council has extended the European Union’s maritime security operation to safeguard freedom of navigation in relation to the Red Sea crisis (EUNAVFOR ASPIDES) until 28 February 2027, following the strategic review of the operation.The Council agreed to provide nearly €15 million ($18 million) to cover the costs of the operation which contributes to safeguarding freedom of navigation in the Red…
BMT Opens Digital Simulation Centre in Fareham
BMT has poened its Digital Innovation & Simulation Centre (DISC) at the organisation’s Fareham site in the UK - a facility designed to provide a premium environment for high‑value simulation, immersive engineering and commercially focused engagement.The facility is powered by the BMT REMBRANDT navigation simulator - a DNV‑accredited system used globally for port feasibility, pilotage training and quantitative…
BOEM Proposes Regulation Revision to Support Mineral Exploration
The Bureau of Ocean Energy Management announced proposed revisions to its regulations governing hard mineral resources on the U.S. Outer Continental Shelf aiming to advance exploration and development of critical minerals essential to national security, economic competitiveness and technological progress.These proposed updates align with Executive Orders 14285 and 14154, which prioritize unleashing America’s potential to explore and develop OCS critical mineral resources.
CK Hutchison Concessions Annulled for Two Ports Along the Panama Canal
Hong Kong conglomerate CK Hutchison said on Tuesday Panama authorities had threatened its employees with criminal prosecution if they defied orders to leave two strategic canal ports at the centre of a legal battle that has embroiled Beijing and Washington.CK Hutchison said Panama's decision to cancel key port contracts and grant temporary licences to Maersk and the Mediterranean Shipping (MSC) was…
US Diesel Exports Hit High as Europe Strengthens Sanctions Against Russian Oil
U.S. diesel exports to Europe hit an all‑time high in January after the continent strengthened its ban on imports of Russian-derived fuel, and as discounted Russian diesel displaced U.S. fuel in Brazil, data showed and analysts said.The developments show how Western sanctions, aimed at punishing Russia over its invasion of Ukraine, are reshaping markets, allowing U.S. producers to capture premium markets in Europe while forcing Russia to seek customers much farther from home.Notably…
TKMS CEO Calls for Defense Industry Consolidation
The chief executive of German warship builder TKMS has called for consolidation within the defence industry in a speech published on Monday ahead of the company's annual general meeting."If defence capabilities are to be established more quickly, standardisation, industrial consolidation and speed are required," CEO Oliver Burkhard said in a transcript of the speech due to be held during the AGM on Feb.
Organizations Release Joint Support Statement on Maritime Labour Convention 20th Anniversary
On behalf of the International Labour Organization, the International Chamber of Shipping, and International Transport Workers’ Federation:On the 20th anniversary of the Maritime Labour Convention, 2006, we jointly reaffirm our commitment to the principles and protections it embodies and recognize the profound impact it has had on seafarers and on global shipping.The MLC consolidated and modernized around seventy maritime labor instruments into a single, comprehensive international framework.
The Swedish Club Reports 99% Retention, Increased Tonnage at 2026 Renewal
The Swedish Club (TSC) has concluded its 2026 P&I renewal with a 99% retention rate.Over the past 12 months, The Swedish Club has attracted new entered tonnage with an increase of nearly 8%, driven by a combination of solid organic development within the existing membership and selective new business transferring to the Club. In addition, the Club has secured a strong level of commitment through tonnage…
DetentionTrackr Debuts AI-Powered Port State Control Intelligence Tool
DetentionTrackr has launched a new artificial intelligence (AI)-powered maritime intelligence platform designed to centralize global Port State Control (PSC) detention data into real-time operational insight.The DetentionTrackr platform aggregates live detention data from global ports and converts fragmented enforcement records into structured intelligence aimed at improving efficiency and decision-making across the maritime industry.In February alone…
Fincantieri Launches First Next-Gen Offshore Patrol Vessel for Italian Navy
Fincantieri has launched the first next-generation Offshore Patrol Vessel (OPV) for the Italian Navy at its Riva Trigoso shipyard, marking a milestone in a four-ship program led by Orizzonte Sistemi Navali, a joint venture between Fincantieri and Leonardo.The vessel, named Ugolino Vivaldi, is the first of four units being built under a program assigned to Orizzonte Sistemi Navali — owned 51% by Fincantieri and 49% by Leonardo — by the Naval Armaments Directorate…
GLO Marine to Invest $7M in New Vessel Retrofit Hub in Romania
Retrofit specialist GLO Marine has announced a $7 million (€6 million) investment in a new integrated assembly and production facility in Galați, Romania, as it seeks to expand its end-to-end vessel upgrade and decarbonization capabilities.The new facility will allow the company to engineer, fabricate, pre-assemble and integrate complex retrofit systems under a coordinated delivery model. Construction is underway…
Seatrium Targets $40M Cost Savings in Continued Divestment Drive
Seatrium has put in motion a series of non-core asset divestments set to complete by early 2026, targeting over $40 million (S$50 million) in annualized operational cost savings.The Singapore-based offshore and marine group said the savings will follow recent divestments of the AmFELS yard in Texas and the GNL Platform Supply Vessels disclosed in 2025, alongside additional transactions earlier.The company said the divestments form part of its strategy to rationalize non-core assets…
SeaBird Exploration Nets Contract Extension for Seismic Survey Vessel
Norwegian marine seismic survey services firm SeaBird Exploration, part of SED Energy Holdings, has secured a contract extension for its Fulmar Explorer seismic survey vessel.SeaBird Exploration has signed a three-month contract extension for ocean bottom node (OBN) source work for the vessel in the Western Hemisphere.This extension now commits the 2009-built vessel through mid-June 2026, maintaining the same commercial terms as the original agreement…
Tidewater to Acquire Wilson Sons Ultratug Offshore in $500M
All-Cash Deal, Expanding Brazil FootprintTidewater Inc. (NYSE: TDW) has signed a definitive agreement to acquire Wilson Sons Ultratug Participações S.A. and its affiliate Atlantic Offshore Services S.A. (collectively, WSUT) in an all-cash transaction valued at approximately $500 million, including the assumption of existing debt.The acquisition significantly strengthens Tidewater’s position in the…
Passengers Evacuated from World Legacy
All 271 passengers from the Liberia-registered passenger vessel World Legacy have been safely evacuated.The fire occurred on February 20 while the vessel was en route to Singapore and resulted in the death of one crew member. The fire was brought under control by the crew shortly after.Passengers who required medical attention were attended to by paramedics, and four have been taken to hospital.Based on preliminary investigations, the fire occurred at the lounge area on deck nine of the vessel.
Call for Australian Government to Take Up Sustainable Seafarer Welfare
On the 20th anniversary of the Maritime Labour Convention, the NGO Human Rights at Sea has called on Catherine King, Australia’s Minister for Transport, to take action on the consistent provision of seafarer welfare services after an advocate has travelled the nation securing funding in the absence of federal government support.The February announcement that Flinders Port Holdings has committed $200…
Costamere Bulkers Reports Loss, but Solid Fundamentals
Costamare Bulkers has reported its unaudited financial results for the fourth quarter and year ended December 31, 2025, reflecting on the company’s performance during its second full quarter as an independent, publicly traded company.Costamare Bulkers had no operating activity during the year ended December 31, 2024 and remained a wholly-owned subsidiary of Costamare Inc., a New York Stock Exchange listed company…
Partners Study Year-Round Shipping from Canada’s Churchill Port
Arctic Gateway Group (AGG) has partnered with Canadian shipping company Fednav to examine the operational requirements that would be necessary to support year-round shipping from the Port of Churchill.The work for this review is underway and is expected to be completed this summer.Fednav’s work with AGG will focus on understanding the practical operational considerations of navigating ice-covered waters in Hudson Bay.
