Wednesday, June 03, 2026
Media Kit
HMS Middleton

A British Minesweeper That Was Withdrawn From the Gulf is Back on Patrol

MORE TOP STORIES
File image courtesy Jos Hoogesteger / VesselFinder

Marinakis: "Better to Pay a Fee" for Hormuz Transits

Published Jun 2, 2026 11:03 PM by The Maritime Executive

Most shipowners are reticent to discuss the arrangements they might be willing to make with sanctioned regimes, but on Tuesday, prominent Greek tanker owner Evangelos Marinakis said what many are thinking quietly: for business purposes, it might be better just to pay for transit through the Strait of Hormuz and receive security assurances, all questions of geopolitics aside. "For me, it is better to pay a fee of $100,000 or $200,000, depending on the size of the cargo or the...

Continue Reading...
Flame and smoke billow from the St. Petersburg Oil Terminal (Russian social media)

Ukrainian Drones Hit Oil Terminal in St. Petersburg's Harbor

Published Jun 2, 2026 10:14 PM by The Maritime Executive

On Wednesday morning, a flotilla of slow-moving Ukrainian drones penetrated Russian air defenses to attack the St. Petersburg Oil Terminal, a petroleum transshipment pier about five miles from the city center. Ukraine's ability to operate unmanned systems in Russian airspace has been growing for months, but Wednesday's strike - recorded extensively on Russian social media, despite strict criminal penalties - provided an unusually stark demonstration. Loud, slow-moving Ukrainian drones circled over the city's residential districts, unbothered by sporadic gunfire. At...

Continue Reading...
The Shibushi strategic petroleum reserve site, one of Japan's large-scale emergency storage complexes (Sanjo / CC BY SA 3.0)

Oil Producers Warn of Declining Reserves as Hormuz Shutdown Continues

Published Jun 2, 2026 9:50 PM by The Maritime Executive

As U.S. and Iranian forces continue to exchange limited fire in and around the Strait of Hormuz, multiple oil producers are warning that physical supplies may begin to show signs of strain by the end of summer, even if today's market price signals are stable. "I think the way we see things today, it’s difficult to predict a very bright, you know, outcome," ADNOC CEO Sultan al-Jaber told Al Arabiya. According to al-Jaber, if global demand creeps back up and...

Continue Reading...
GNV ferry

MSC’s Ferry Company GNV Christens New Ship as Expansion Continues

Published Jun 2, 2026 7:29 PM by The Maritime Executive

Italian ferry operator GNV (Grandi Navi Veloci), which has been a subsidiary of MSC Group since 2020, celebrated the christening of its newest ship and the expansion of its service to Morocco as it continues a fleet renewal effort valued at more than €1.3 billion ($1.5 billion). The company points to a strategy focusing on the centrality of intra-Mediterranean connections and the increasing importance of Morocco. As a demonstration of the importance it is placing on Morocco and the cross-Mediterranean...

Continue Reading...
FEATURED STORIES
PODCASTS
MORE STORIES BY CATEGORY

Offshore

LNG carrier docked in Darwin Australia

Strike at Australian LNG Operations is Impacting Loading and Exports

The LNG carrier Pacific Breeze (92,830 dwt) finally got underway on June 3 after having been delayed by a work slowdown and now a strike at one of Australia’s largest producers. Union members represented by Australia’s Offshore Alliance walked off their jobs on Tuesday after having delayed their strike a week to give additional time for the negotiations. In a statement posted online, the Offshore Alliance, which brings together members of the Maritime Union of Australia and the Australian Workers...

Continue Reading...

Shipbuilding

Russ Vought (second from left) and Ted Cruz (third from left) break ground at Gulf Copper (Gov. Greg Abbott)

Davie Defense Kicks Off $1 Billion Shipyard Revamp at Gulf Copper

On Monday, Texas Governor Greg Abbott joined executives from Davie Defense to inaugurate the shipbuilder's modernization drive at Gulf Copper's twin yards in Port Arthur and Galveston. Davie acquired the company and its assets last year in order to compete for government shipbuilding projects, and it is planning to use the new spaces for its contract to construct new Arctic Security Cutters for the U.S. Coast Guard. Other dignitaries present included White House budget chief Russ Vought, Sen. Ted Cruz,...

Continue Reading...

Environment

Francesca Verones, NTNU

Microplastics Could Affect the Ocean's Ability to Absorb Carbon

[By Ingebjørg Hestvik] “We study how plastic affects what we call ecosystem services, that is, the services we receive from ecosystems. When the ocean absorbs carbon dioxide from the atmosphere, we consider it as a service the ocean performs for us,” says researcher Francesca Verones. Photo: Francesca Verones, NTNU You have probably heard this before: more than 70 per cent of our planet is covered by oceans. Nearly half of all photosynthesis on Earth takes place in the ocean, and...

Continue Reading...

Business

File image courtesy Jos Hoogesteger / VesselFinder

Marinakis: "Better to Pay a Fee" for Hormuz Transits

Most shipowners are reticent to discuss the arrangements they might be willing to make with sanctioned regimes, but on Tuesday, prominent Greek tanker owner Evangelos Marinakis said what many are thinking quietly: for business purposes, it might be better just to pay for transit through the Strait of Hormuz and receive security assurances, all questions of geopolitics aside. "For me, it is better to pay a fee of $100,000 or $200,000, depending on the size of the cargo or the...

Continue Reading...