Tuesday, March 03, 2026
Media Kit
The U.S. has provided security assurance for tanker navigation in the Gulf before: Operation Earnest Will, 1987 (USN file image)

Trump: U.S. Will Provide "Risk Insurance" For All Shipping in the Gulf

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No longer seen: a CMA CGM boxship in the Suez Canal (file image courtesy CMA CGM)

Xeneta: Ocean Carriers Unlikely to Return to Red Sea in 2026

Published Mar 2, 2026 8:51 PM by The Maritime Executive

The conflict between the U.S., Israel and Iran may well put off any real hope of a return to Red Sea container ship traffic for the rest of this year, according to Xeneta chief analyst Peter Sand - if Houthi rebels follow through on a pledge to resume strikes. Before last weekend's U.S.-Israeli strike on Tehran, leading western container lines were just beginning to test the waters of the Red Sea again, hoping that a truce with Iran-backed Houthi rebels...

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life raft

Search Underway for Missing Seafarers After Tug Sinks off South Africa

Published Mar 2, 2026 8:36 PM by The Maritime Executive

Two merchant ships and a fishing boat are working alongside the South African Maritime Safety Authority (SAMSA) as the search continues for missing crewmembers from a tug that went down overnight on Saturday into Sunday along the coast in an area notorious for treacherous sea conditions. The reports were that 12 people had been rescued, one additional person was deceased, and five others remained missing. The emergency call was received by the Maritime Rescue Coordination Center in Cape Two at...

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Norwegian Cruise Line

Norwegian Cruise Admits Misstep as it Issues Disappointing Outlook

Published Mar 2, 2026 7:58 PM by The Maritime Executive

Norwegian Cruise Line Holdings reported its fourth quarter and year-end financial results, and while it met or exceeded expectations, it disappointed with its outlook for 2026. Admitting “missteps” and “misalignment,” the cruise corporation provided an outlook for 2026 well below analyst projections, and as activist shareholder Elliott Investment Management is beginning to meet with fellow investors ahead of the company’s annual meeting. The announcement of results faced further headwinds due to world events and the uncertain outlook for the oil...

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Saudi strike

Iran Denies Involvement in Strike On Saudi Arabia's Ras Tanura Refinery

Published Mar 2, 2026 7:07 PM by The Maritime Executive

Saudi Arabia has shut down processing at its gigantic Ras Tanura installation, part of the world's largest oil port, after a reported Iranian drone attack inflicted serious damage. For the first time since the beginning of recent hostilities in the Gulf region, Iran has denied involvement. Satellite imaging obtained on Monday by Vantor showed ongoing firefighting efforts at two large processing units at Ras Tanura. Bystander videos obtained by contractors and workers at the scene showed personnel evacuating the area...

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Offshore

Maersk Offshore Wind Turbine Installation Vessel

Seatrium Delivers WTIV to Maersk Offshore Wind

The next-generation wind turbine installation vessel, which became the center of a dispute before it was completed, has been successfully delivered, with both companies now celebrating the possibilities. Seatrium reports it completed the delivery on February 26 after sea trials and final readiness evaluations at the Tuas Boulevard Yard in Singapore, while Maersk Offshore Wind is calling the ship the first in its journey towards growing a future-ready fleet. Maersk Offshore Wind, which is owned by the investment company A.P....

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Shipbuilding

Greek Foreign Minister

Hanwha and Greece’s Onex Shipyards Partner to Expand U.S. Shipbuilding

A new trilateral agreement was formalized between Onex Shipyards & Technologies, which is working to revitalize Greek shipbuilding, and South Korea’s Hanwha Power Systems, with American officials looking on during the signing event. According to the reports, the effort will support the efforts in Greece but also looks to leverage the emerging opportunities in the United States under the Trump administration’s U.S. Maritime Action Plan. Onex reports that the agreement focuses on the development of newbuildings with LNG capacity as...

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Environment

Trawlers

Study: Ocean Warming Puts "Constant Negative Pressure" on Fish Populations

A new meta-study published in Nature Ecology & Evolution suggests that ocean warming has an outsize impact on the total amount of fish in the water, enough to have major implications for global fisheries. The study, led by researchers at Spain's Museo Nacional de Ciencias Naturales, looked at hundreds of thousands of studies of fish populations in the Northern Hemisphere over a period of nearly 30 years, spanning 1993-2021. The vast data set covered more than 1,500 fish species and...

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Business

Norwegian Cruise Line

Norwegian Cruise Admits Misstep as it Issues Disappointing Outlook

Norwegian Cruise Line Holdings reported its fourth quarter and year-end financial results, and while it met or exceeded expectations, it disappointed with its outlook for 2026. Admitting “missteps” and “misalignment,” the cruise corporation provided an outlook for 2026 well below analyst projections, and as activist shareholder Elliott Investment Management is beginning to meet with fellow investors ahead of the company’s annual meeting. The announcement of results faced further headwinds due to world events and the uncertain outlook for the oil...

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