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Morning Briefing — Wednesday, November...
Morning Briefing — Wednesday, November 11, 2026 1. World developments Russia, Ukraine and the United States entered the final...
EU Lawmakers Push Back Against...
A European Parliament committee has voted to oppose the approval of two Indian ship recycling yards, dealing a setback...
IMO Council reaffirms commitment to...
The IMO Council concluded its 138th session with decisions addressing maritime security, governance reforms, digital systems, gender equality and...
BMA investigation: Bunker surveyor dies...
The Bahamas Maritime Authority (BMA) has released an investigation report into a fatal man-overboard incident involving a bunker surveyor...
U.S. Targets Cuba’s Oil Tanker Fleet in New Sanctions Crackdown...
posted on: Nov 11, 2026
The Trump administration has expanded sanctions targeting Cuba’s maritime and energy sectors, identifying five Cuban-flagged vessels as blocked property and opening the door to further sanctions against foreign companies operating in the country’s marine industry. The measures, announced Thursday by the State Department, target eight companies and two individuals accused of supporting the Cuban government through petroleum shipments, offshore business networks and military procurement. The action also includes a new Treasury Department determination allowing sanctions against foreign persons operating in Cuba’s marine, manufacturing, electronics and technology sectors. Among those targeted is Cyprus-based Caroil Transport Marine Ltd., which manages Cuban-flagged tankers involved in transporting energy products. The company was previously sanctioned in 2019 under U.S. measures targeting Venezuela. Three vessels associated with Caroil were identified as blocked property: the crude oil tanker Esperanza, chemical and products tanker Gloria C, and products tanker Maria Cristina. Washington also sanctioned Panama-based Tentacool Commercial...
Adani Ports Makes Major Push Into Europe With $2.9 Billion Evos Acquisition...
posted on: Nov 11, 2026
India’s Adani Ports and Special Economic Zone (APSEZ) has agreed to acquire Netherlands-based liquid storage operator Evos B.V. in a €2.56 billion ($2.88 billion) deal that will give the company a major foothold in Europe’s energy and fuel storage market. The agreement, announced Thursday, will see Adani acquire 100% of Evos from Igneo Infrastructure Partners. Evos is Europe’s second-largest independent liquid storage operator, with eight port-based terminals across the Netherlands, Germany, Spain, Belgium and Malta. Its facilities have a combined storage capacity of 6.3 million cubic meters across 452 tanks, supported by 63 vessel and barge berths and extensive pipeline connections. The terminals are located in major European energy hubs, including the Amsterdam-Rotterdam-Antwerp region, Hamburg and the Mediterranean. Evos handled 37 million metric tons of liquid cargo in 2025, including gasoline, gasoil, marine fuels and jet fuel. Its portfolio also includes emerging fuels such as sustainable aviation fuel, biofuels,...
RightShip Vetting Criteria Version 4: What has changed and what operators need to know...
posted on: Nov 11, 2026
RightShip has introduced Revision 4.0 of its Dry Bulk Vessel Vetting Baseline Criteria, effective 1 October 2026, bringing a substantial revision of the framework used to support vetting recommendations for dry bulk and general cargo vessels. This is more than a periodic update of individual thresholds. RightShip’s own Revision Log states that Version 4 has been extensively reformatted and rewritten, with the stated objective of providing clearer baseline criteria, review thresholds, acceptability expectations and closure requirements. Among the most important developments are a comprehensive revision of the Port State Control criteria, restructuring of incident assessment, expansion of Flag, Class and regulatory compliance requirements, stronger provisions on ownership transparency and sanctions, enhanced technical and operational requirements, and changes to RightShip Inspection and Management of Change requirements. The scope has also been expressly expanded to include general cargo vessels alongside dry bulk vessels. Importantly, the criteria remain RightShip’s recommended minimum baseline...
New Investigation Uncovers Iranian Smuggling Network...
posted on: Nov 11, 2026
A painstaking investigation by Reuters has uncovered a vast network of accounts and companies used by Iran’s Islamic Revolutionary Guard Corps (IRGC) to import materials needed by missile, drone and front-line units of the IRGC, currently the United States’ principal adversary. Readers of The Maritime Executive will be familiar with sophisticated mechanisms the IRGC uses to import the materials it needs to prosecute its warfare against neighboring states, Israel and the United States. These tools are what one would expect of an organization which conducts extensive drug smuggling operations as a means to circumvent sanctions and customs controls. It is an organization which has deep experience, and a nimbleness and flexibility to stay one step ahead as smuggling routes are closed down – always exploiting the slower responses of governments that generally want to stick to the slower mechanisms prevailing under the rule of law. The Reuters investigation has utilized...
The limits of stowaway searches: Lessons from recent incidents...
posted on: Nov 11, 2026
Two stowaway incidents involving vessels calling at West African ports have highlighted weaknesses in shipboard searches and the limitations of third-party security checks, according to Skuld. As explained by Jia Hong Liu, Vice President, Technical Manager at Skuld, a total of 14 stowaways remained undetected despite searches conducted using trained dogs. In both incidents, seven individuals were discovered several days after departure, having concealed themselves in areas that should have been included in systematic physical inspections. The cases underline the difference between having security measures in place and ensuring their effectiveness. While professional security services can provide additional protection, Skuld emphasizes that they should not replace thorough physical searches conducted by the vessel’s own crew. What happened? Case 1: Seven stowaways concealed in a crane house In early August 2026, seven stowaways were discovered aboard a vessel several days after departure, when they emerged from their hiding place. The...
Morning Briefing — Tuesday, November 10, 2026...
posted on: Nov 10, 2026
Morning Briefing — Tuesday, November 10, 2026 1. World developments Russia and Ukraine opened U.S.-brokered talks in Abu Dhabi—their first direct negotiations since February. U.S. envoy Jared Kushner said preliminary contacts had narrowed some differences, but the central dispute remains territory: Moscow continues to demand all of Donbas, while Kyiv rejects surrendering defended land and is prioritizing binding security guarantees. European, NATO and EU representatives met Ukraine separately before the main session. reuters.comWhy it matters: Limited agreements on humanitarian issues or military communication may be possible, but the incompatible territorial positions make a comprehensive settlement unlikely at this stage. Oil fell below $90 as the immediate risk of renewed U.S. strikes on Iran receded. Brent declined more than 2% after President Trump indicated that Washington would hold off on further attacks while diplomacy remained possible. European and Asian equities advanced as lower energy prices eased inflation concerns. MarketScreener Saudi...
Govt to sign concession deal with PSA S’pore...
posted on: Nov 10, 2026
Another foreign-trade-facilitation venture emerges as the government has pledged to sign concession agreement with PSA Singapore firm by next April for building and operating Bay Terminal in Chattogram, officials have said.The commitment was made recently at a meeting between Shipping Minister Shaikh Rabiul Alam and Singapore’s Non-Resident High Commissioner in Bangladesh Derek Low. Sources have said officials from the Port Authority of Singapore also attended the meeting where two sides discussed the importance of setting up the terminal to handle growing international trade of the country. Also, sources said, the High Commissioner and the PSA Singapore officials expressed commitment to extending “all-out cooperation” in construction and operation of the terminal which is expected to handle 5.0 million twenty-foot equivalent units (TEUs) of containers per annum, once operational. Sources further said at the meeting Chittagong Port Authority chairman M Moniruzzaman said the authority was working vigorously to sign the concession...
COP31 and maritime: Key climate priorities for shipping, oceans and transport...
posted on: Nov 10, 2026
As world leaders prepare to gather in Antalya, Türkiye, for COP31, attention is turning to the implementation of climate commitments, with maritime decarbonisation, ocean protection, cleaner transport and investment in sustainable infrastructure among the priorities relevant to the shipping industry. The 31st United Nations Climate Change Conference (COP31) will take place from 9 to 20 November 2026, bringing together governments, international organisations, industry representatives, scientists and civil society to advance global climate action under the Paris Agreement. Hosted by Türkiye, with Australia serving as President of Negotiations, COP31 is being positioned as an “Implementation COP”, focusing on translating climate commitments into measurable progress. Its guiding principles are Dialogue, Consensus and Action, with an emphasis on international cooperation and practical solutions. According to the COP31 Presidency’s third letter to Parties, the conference’s Action Agenda is structured around ten interconnected priorities, including clean energy transition, green industrialisation, oceans and seas, climate-resilient...
Shipping Corporation’s FY26 profit falls 5pc, but growth returns in Q1 with new vessels...
posted on: Nov 10, 2026
Bangladesh Shipping Corporation (BSC) posted a 5 per cent year-on-year decline in profit to Tk 2.91 billion in FY26, due to the absence of the previous year’s one-off income and a sharp fall in interest income from bank deposits. The Corporation generates revenue mainly from freight and shipping services. It also has non-operating income, including interest earnings on bank deposits. In the previous year, BSC booked a substantial capital gain from the sale of two damaged oil tankers — MT Banglar Jyoti and MT Banglar Sourabh — which boosted its earnings. No similar one-off income was recorded in FY26, which is why revenue and profit fell year-on-year, the company said. However, Q1 FY27 results show that the Corporation returned to profit growth, supported by revenue generated by two newly acquired vessels. The two old tankers had been severely damaged in separate fire incidents in September and October 2024. The...
Salvage of the MSC Baltic III Wreck Prepares to Remove Final Stern Sections...
posted on: Nov 10, 2026
The salvage efforts in Newfoundland, Canada, to clear the wreck of the containership MSC Baltic III continue to report strong progress. In the latest update, the Canadian Coast Guard reports that Resolve Marine is preparing for pulling operations for the final two portions of the stern that remain in the water. Clearance of the wreck got underway during the summer of 2026, nearly a year and a half after the 33,767-dwt containership blacked out and was driven ashore in Ceder Cove, Newfoundland, near Corner Brook, in February 2025. The 207-meter (679-foot) vessel, which had a capacity for 2,478 TEU, had about 400 containers aboard. Canadian forces airlifted the crew from the ship without injury. The upper works of the containership were stripped away, including the accommodation block and the cargo hatches and gear. Upper portions of the hull were also removed before the operation began pulling sections of the...
Splash Wrap: The great shipbuilding squeeze
posted on: Nov 10, 2026
Remarkable statistics relating to today’s record shipbuilding boom led coverage on Monday and Friday this week. The global orderbook had reached a record 226.1m compensated gross tonnes (cgt), surpassing the previous peak of 225.5m cgt set in September 2008. The extraordinary volume of orders will almost definitely lead to delivery slippages in the coming couple of years. The cruise sector, too, has a record number of orders, now worth a total of $100bn. Arsenio Dominguez is set to remain at the helm of the International Maritime Organization (IMO) until the end of 2031 after the UN shipping agency’s council backed his appointment for another four-year term. The vote was not a slam-dunk, however, with a number of countries either abstaining or voting against the Panamanian. Among key business deals in recent days, Hamburg-listed MPC Oceanic Group stood out for its move to acquire a 41% stake in Cyprus-based shipmanager...
The Hidden Liabilities In Maritime Acquisitions...
posted on: Nov 10, 2026
What Buyers, Sellers and Investors Often Miss During Due DiligenceBy Sabrina Brigance, CMIP, Managing Director, Marine Practice, Hylant Maritime mergers and acquisitions can create significant opportunities for growth. Private equity firms, strategic buyers and marine operators may pursue acquisitions to expand capabilities, add assets, enter new markets and strengthen their position across the maritime industry. But buying a marine business is not the same as buying a traditional operating company. Marine organizations combine vessels and waterfront assets with specialized labor, complex contracts, environmental exposures, regulatory requirements and increasingly connected technology. Those operating realities can materially affect the economics of an otherwise attractive transaction and are among the critical considerations explored in Hylant’s Maritime M&A Risk Guide. Financial diligence tells a buyer what a company earns. Marine risk diligence should help determine whether the assets and operations behind those earnings can sustain them. What Are You Really Acquiring? I refer to this as the Quality of...
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জাহাজ নির্মাণ শিল্প: হাতছাড়া হচ্ছে অপার সম্ভাবনা জাহাজ নির্মাণ শিল্প: হাতছাড়া হচ্ছে অপার সম্ভাবনা গোলাম সোহরাওয়ার্দি প্রকাশ : ২৭ অক্টোবর ২০২৬, ০৮: ০৪আপডেট : ২৭ অক্টোবর ২০২৬, ০৯: ২৪ সারা বিশ্ব এখন জাহাজ নির্মাণের এক বিশাল জোয়ার দেখছে। চীন, দক্ষিণ কোরিয়া ও জাপানের মতো দেশগুলো এ খাত থেকে বিপুল মুনাফা কামিয়ে নিচ্ছে। নতুন বাণিজ্যিক পথ তৈরি, জাহাজের […]
Worldwide Shipbuilding Boom and Bangladesh’s Lost Opportunity: How Financial Mismanagement, Loan Defaults, and Weak Governance Crippled a Promising Industry An investigative analysis by Ghulam Suhrawardi Today, the world is witnessing one of the largest shipbuilding booms in history. Many countries are profiting from it. China, South Korea, and Japan have benefited from increased demand for new vessels due to fleet renewal, changing trade routes, environmental regulations, and strong financial […]
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