US Treasury Issues Waiver Allowing Russian Oil Sales to Tame Surging Prices
On March 12, 2026, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued General License 134, authorizing the delivery and sale of Russian crude oil and petroleum products loaded on vessels on or before 12:01 a.m. Eastern Time March 12, 2026, through midnight April 11, 2026. This 30-day waiver expands a prior limited authorization granted to India (issued around March 5, 2026) to all countries worldwide. It targets Russian-origin oil and
Maersk CEO Vincent Clerc Warns of Marine Fuel Shortages Amid Middle East Disruptions
Maersk CEO Vincent Clerc has warned that ongoing conflict in the Middle East, particularly disruptions linked to the Strait of Hormuz closure due to the Iran war, risks creating regional marine fuel shortages for shipping operations. In recent interviews (including with CNN, BBC, and Le Monde), Clerc stated there is sufficient global oil supply overall, but “not enough oil everywhere in the world,” leading to dwindling stocks in key bunkering areas like Asia and the
World’s Largest China-Built Dual-Fuel Containership Begins Sea Trials in Taicang
This ultra-large container vessel departed from the dock on Sunday for its initial trial voyage, marking a key milestone in its construction and testing phase. The ship measures 399.9 meters in length and boasts a capacity of 24,212 TEU (twenty-foot equivalent units), making it the largest dual-fuel containership constructed in China to date. It is designed to operate on LNG (liquefied natural gas) as a primary alternative fuel alongside conventional marine fuels, supporting reduced emissions
Cruise Ships Cancel Puerto Vallarta Calls Amid Escalating Cartel-Related Violence
Multiple cruise lines have canceled scheduled stops at Puerto Vallarta, Mexico, in late February 2026, following a surge in violence triggered by the killing of a high-profile cartel leader in the state of Jalisco. The disruptions began after Mexican authorities killed a top leader of the Jalisco New Generation Cartel, leading to retaliatory actions including road blockades, vehicle burnings, fires, and civil unrest spilling into the popular tourist port city. The U.S. State Department issued
President Trump Announces Hospital Ship Mission to Greenland as USNS Mercy and USNS Comfort Remain in Alabama Shipyard
President Donald Trump announced on February 21, 2026, via his Truth Social platform that the United States will deploy a hospital ship to Greenland to provide medical care, claiming the mission will address needs for “many people who are sick, and not being taken care of there.” The announcement came in a post stating: “Working with the fantastic Governor of Louisiana, Jeff Landry, we are going to send a great hospital boat to Greenland… It’s
U.S. Navy Selects Fincantieri Marinette Marine to Build First 4 Medium Landing Ships
The U.S. Navy has selected Fincantieri Marinette Marine, its Wisconsin-based shipyard, to construct the first four Medium Landing Ships (LSM) as part of the Landing Ship Medium program, announced on February 18, 2026. This decision follows the Navy’s issuance of a Request for Proposal (RFP) for a Vessel Construction Manager (VCM) to oversee the acquisition, accelerating delivery through commercial practices, enhancing cost control, and expanding the domestic shipbuilding industrial base. The contract award for the
Royal Navy Submarine HMS Anson Arrives at HMAS Stirling in Historic AUKUS Milestone
The Royal Navy nuclear-powered attack submarine HMS Anson has docked at HMAS Stirling near Perth, Western Australia, on February 22, 2026, in what officials describe as a historic visit strengthening Indo-Pacific security ties. This marks the first-ever maintenance activity conducted on a United Kingdom nuclear-powered submarine in Australia, as part of the trilateral AUKUS partnership between Australia, the United Kingdom, and the United States. The Astute-class submarine, crewed by approximately 100 personnel and equipped with torpedoes
APM Terminals Acquires 37.5% Stake in DP World’s Southern Container Terminal at Jeddah Islamic Port
Jeddah, Saudi Arabia – In a significant move for Red Sea container shipping, APM Terminals, the independent port operating subsidiary of A.P. Moller–Maersk, has acquired a 37.5% minority stake in the Southern Container Terminal (SCT) at Jeddah Islamic Port. DP World will retain a 62.5% majority shareholding and continue to lead day-to-day operations at the facility. The strategic partnership, announced on February 18, 2026, deepens collaboration between two of the world’s leading terminal operators. It