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Maersk Predicts Difficult Times for Industry After a Strong Performance

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 […]

3 mins read

Iran Seizes Two More Vessels Accused of Fuel Smuggling

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 […]

3 mins read

Estonia Releases Ship Saying Smuggling Allegations Were Not Confirmed

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 […]

2 mins read

U.S. Navy is Feeling Out Ship Construction Options in Turkey

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 […]