Wednesday, June 03, 2026
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HMS Middleton

A British Minesweeper That Was Withdrawn From the Gulf is Back on Patrol

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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...

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Brazilian terminal for exports

AD Ports Jumps Into Brazilian Ag Market with Largest-Ever M&A Transaction

Published Jun 2, 2026 7:28 PM by The Maritime Executive

AD Ports Group has agreed to acquire a Brazilian sugar and grain export terminal operator, Corredor Logística e Infraestrutura (CLI), which marks its entry into the South American market. It is calling the acquisition its largest-ever M&A transaction and a key element in its strategy to strategically strengthen its growing agrifood business operations. CLI is reported to be Brazil’s leading independent agri-bulk port terminal operator. The company owns 100 percent of CLI Norte, which operates a terminal at the Port...

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Genco dry bulk vessel

Genco Rejects Third Offer from Diana Two Weeks Before Shareholder Meeting

Published Jun 2, 2026 6:39 PM by The Maritime Executive

The takeover battle that has been going back and forth for six months continues to build with Genco Shipping & Trading releasing a statement from its board rejecting Diana Shipping’s third, increased offer. It comes just two weeks before the pivotal shareholder meeting for Genco that could decide the outcome of the battle. Diana’s Chief Executive Officer, Semiramis Paliou, increased his rhetoric in a statement shortly after Genco went public with its rejection of the offer. Paliou says it has...

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Lexie

U.S. Disables an Iran-Linked Tanker With a Hellfire Missile

Published Jun 2, 2026 6:07 PM by The Maritime Executive

U.S. forces have disabled another tanker near the Strait of Hormuz, according to U.S. Central Command, bringing the total tally to six vessels. On June 2, Centcom forces observed the stateless tanker Lexie transiting towards Kharg Island, one of Iran's primary loading terminals for oil exports. Empty tankers provide the potential for Iran to extend its production capacity through floating storage, and Centcom has attempted to prevent this by blocking inbound traffic, with substantial success. According to the command, U.S....

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Offshore

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

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...

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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,...

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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...

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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...

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