Author: Ruth M
Helsinki / Global – 31 July 2025 – Private equity firm Triton has officially completed its acquisition of MacGregor, the world-renowned marine cargo and offshore systems provider, previously owned by Hiab (part of Cargotec Corporation). The deal marks a significant shift in the global maritime landscape, positioning MacGregor for accelerated growth and innovation under independent ownership. Strategic Deal Milestones The acquisition was originally announced in November 2024, valuing MacGregor at approximately €480 million. Although the transaction was expected to close by July 1, 2025, regulatory clearance delays, particularly from Chinese authorities, pushed the final closing to July 31, 2025. With…
July 31, 2025 | Johor, Malaysia The Berlin Mærsk, one of Maersk’s newest methanol-enabled mega-containerships, has made its maiden call at the Port of Tanjung Pelepas (PTP) in Malaysia, marking a key milestone in the shipping giant’s decarbonization journey and service expansion. The call signals the vessel’s formal entry into Maersk’s AE3 service, a critical trade lane linking East Asia to Northern Europe. With a capacity of 17,480 twenty-foot equivalent units (TEU), the Berlin Mærsk is the first of six new vessels built to operate on methanol — a move aligned with Maersk’s ambition to reach net-zero emissions by 2040.…
July 31, 2025 | Geneva/Singapore Swiss banking giant UBS has emerged victorious in a high-profile legal dispute with Lebanese shipowner Ghassan Ghandour concerning the arrest of the crude oil tanker Chloe V. The ruling marks a significant development in a years-long battle involving maritime finance, vessel usage rights, and contractual obligations. The case centered on the arrest of the Chloe V, a 320,000-deadweight-tonne Very Large Crude Carrier (VLCC), which was detained off Singapore in 2021. Ghandour, through his firm Hermes Maritime Holding, accused UBS of obstructing the vessel’s deployment by refusing to issue a “letter of enjoyment”—a document typically required…
Honolulu, Hawaii – July 30, 2025 In a swift and coordinated response to tsunami alerts, nearly 100 vessels cleared out of Honolulu Harbor early Wednesday after an 8.8-magnitude earthquake struck off the Kamchatka Peninsula in Russia, triggering warnings across the Pacific Rim. According to live data from MarineTraffic, a total of 91 vessels departed the harbor over the course of several hours. The fleet was a mix of fishing boats, Coast Guard cutters, and recreational yachts, all making their way to deeper waters — a standard maritime protocol during tsunami threats to minimize damage from wave surges in port areas.…
Rizhao, China – July 30, 2025 A once-abandoned shipyard on China’s eastern coast is springing back to life — this time with a bold new vision. In Rizhao, Shandong Province, Shandong Port Equipment Group has embarked on a massive redevelopment of the former Huahai Shipyard, aiming to transform the idle site into a modern powerhouse for marine equipment and ship construction. Once the pride of Rizhao’s industrial sector, the Huahai Shipyard was launched in 2007 with ambitions of building vessels up to 10,000 deadweight tons (DWT). But after struggling through years of weak global demand and rising debt, the shipyard…
Taipei, Taiwan – July 29, 2025 — Dutch marine engineering giant Boskalis and Swiss pipelaying specialist Allseas have secured a landmark $1.4 billion contract to construct a major offshore natural gas pipeline for CPC Corporation Taiwan, the country’s state-owned oil and gas company. The project, known as the YT2 pipeline, will run parallel to the existing YT1 line and connect the Yongan LNG terminal in southern Taiwan to the Tongxiao gas-fired power plant in the north. The offshore pipeline will span approximately 232 kilometers and will have a 36-inch diameter, making it one of the most significant subsea energy infrastructure…
Kenya Ports Authority and Uganda Revenue Authority have reaffirmed their commitment to strengthening bilateral collaboration to enhance trade efficiency across the East African region. During a stakeholder engagement meeting held at the Inland Container Depot in Nairobi, KPA Managing Director Captain William Ruto hosted URA Commissioner General Mr. John R. Musinguzi to discuss shared priorities in improving cross-border logistics and regional integration. Captain Ruto noted that KPA continues to focus on infrastructure development at the Port of Mombasa and along the Northern Corridor. These efforts are aimed at streamlining cargo handling and promoting seamless trade between Kenya and Uganda, while…
In the July 2025 edition of Clarksons World Fleet Monitor, Comoros was identified as Africa’s second-largest ship registry, following Liberia, with its fleet expanding by over 250% this year—a striking indicator of shifting registry dynamics across the continent. This unprecedented growth marks a major leap for the island nation, placing it ahead of more established African registries and signaling a broader trend of open registries gaining ground amid tightening global regulations and geopolitical sanctions. The surge positions Comoros just behind Liberia and far above countries like São Tomé and Equatorial Guinea, whose registries have seen only modest changes. The implications…
On June 26, 2025, coinciding with the entry into force of the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships (HKC), the world’s first International Ready for Recycling Certificate (IRRC) was formally issued. This certificate marks a significant milestone in the global effort to standardize and enforce responsible ship recycling practices. The IRRC is mandatory under the HKC for all ships of 500 gross tonnage and above that are destined for dismantling in facilities located within HKC-ratifying countries. The certificate is granted after a final onboard survey confirms that the vessel’s Inventory of Hazardous Materials…
Miami Beach, on July 28, 2025, a tragic maritime accident left two children dead and two others critically injured after a sailboat carrying participants of a youth sailing program collided with a construction barge in the waters off Miami Beach. The collision occurred around 11:00 a.m. near Hibiscus Island, in a channel frequently used by both recreational and commercial vessels. The sailboat, operated as part of the Miami Yacht Club’s summer sailing camp, was carrying five children between the ages of 7 and 13, along with a 19-year-old female camp counselor. According to authorities, the vessel was struck by a…