Business

Maersk, long considered a bellwether of the container shipping industry and broader global economy, presented a bleak near-term outlook as it reported 2025 financial results. The company pointed to the continued uncertainties in global trade as well as a growing overcapacity in container shipping, which it foresees contributing to further declines in freight rates and […]

All-electric wing-in-ground craft company Regent Craft has sold another 10 units to a passenger plane company – this time, Synerget, a Brazilian firm in the business aircraft sales & service segment. Synerget has agreed to buy 10 of the 12-passenger Viceroy models that Regent has designed for coastwise routes, with first deliveries slated for 2029. […]

A judge at the UK’s “Old Bailey” court in London sentenced the former master of the Single containership to six years in jail for causing the death of a seafarer in the fiery 2025 allision with the tanker Stena Immaculate. A jury on Monday had found Vladimir Motin, age 59 of Russia, guilty of gross […]

Four U.S. Navy sailors have pleaded guilty to charges of bribery for taking money from Chinese nationals for sham marriage arrangements. These fake marriages were set up so that the perpetrators could secure U.S. permanent residency and evade American immigration enforcement. In addition, some of the co-defendants in the scheme made attempts to secure military […]

Iranian officials reported on Thursday, February 5, that the Islamic Revolutionary Guard Corps had seized two more vessels accused of fuel smuggling. While Iran has taken similar actions in the past as part of a crackdown on smuggling, today’s seizures drew additional international attention due to the regional tensions. Iranian media reports indicate two unnamed […]

Discussions are underway in Canada in regard to the future development of the Port of Churchill on Hudson Bay. During the early to mid-1900s and prior to the opening of the St. Lawrence Seaway, Churchill was Canada’s main port for exporting Western Canadian agricultural produce to England and Europe, and could play a major role […]

Estonia’s Tax and Customs Board completed its investigation of the refrigerated containership Baltic Spirit and permitted the vessel to continue its trip to Russia, saying that the reports of “contraband was not confirmed.” Estonia’s elite K Commando force had stormed the ship with the support of the Navy, reporting that it was being detained on […]

An MSC containership inbound for Saint Petersburg, Russia was reportedly disabled after an explosion and fire in the Gulf of Finland. Details are coming from Russian media reports of the incident without official confirmation from the maritime services or MSC. A feeder ship named MSC Giada III (39,000 dwt) experienced an explosion in its engine […]

The future USS John F. Kennedy, the second Ford-class carrier for the U.S. Navy, has completed builder’s sea trials at Huntington Ingalls Newport News. It has been 17 years since the initial contract award for Kennedyand more than 10 years since her keel-laying. The test run was the ship’s first outing, and it is a […]

Momentum appears to be building within some corners of the Trump administration to offshore U.S. Navy warship production to yards in U.S. allied nations, where well-developed shipbuilding industries with available capacity can be found. It would require changing U.S. law and longstanding practice, but this has not deterred proponents: South Korea’s “Big Three” have openly […]