On the fourth anniversary of Russia’s invasion of Ukraine, the UK announced a major sanctions package targeting nearly 300 entities to undermine Moscow’s military financing. Notably, PJSC Transneft, which oversees 80% of Russia’s oil exports, is included. Foreign Secretary Yvette Cooper emphasized the UK’s commitment to disrupting the Russian war effort.
Mitsubishi Shipbuilding has delivered its first ammonia fuel supply system (AFSS) and ammonia gas abatement system (AGAS) to Japan Engine Corporation. These systems support J-ENG’s ammonia-fueled marine engine, marking a key milestone in advancing sustainable maritime solutions and facilitating decarbonization efforts within the industry.
The Philippine Coast Guard is conducting a search-and-recovery operation for the sunken ferry Trisha Kerstin 3 off Basilan. The death toll has reached 65, with ongoing investigations into accountability. Divers recently recovered a crew member’s body, while reports indicate discrepancies in the passenger manifest and concerns about the vessel’s seaworthiness.
The Ajoke Ayisat Afolabi Foundation, part of the SIFAX Group, has trained over 90 students in Agege, Lagos, focusing on technology skills like computer literacy and AI. This initiative, in partnership with the World Bank, aims to address youth unemployment and enhance educational opportunities, fostering community development in Nigeria.
VLCC charter rates have re-entered the six-figure range, highlighted by DHT Holdings’ one-year time charter for the DHT Redwood at $105,000 per day. This reflects the tightening VLCC segment, driven by strong crude demand and geopolitical uncertainties. DHT has secured significant coverage for upcoming spot days, indicating market optimism.
V. has partnered with Silk Searoad Maritime S.A. to manage their fleet of eight vessels, enhancing operational efficiency. This collaboration leverages V.’s expertise in ship management, focusing on crew welfare, safety, and performance optimization. Additionally, Silk Searoad gains access to competitive purchasing power through V.’s marine services.
Applications are now open for the 2026 IG Shipping Course, a two-week program by IFCHOR Galbraiths, designed for maritime professionals at all stages. Scheduled for July 12-24 at Ashridge House, the course offers expert-led lectures, workshops, and networking opportunities, enhancing understanding of the global shipping landscape.
On February 23, 2023, the ILO and IMO marked the 20th anniversary of the Maritime Labour Convention, 2006 (MLC, 2006). This treaty has greatly improved seafarers’ working conditions globally, promoting fair competition in shipping. It established enforceable standards for employment, wages, and health care, ensuring decent work at sea.
The Swedish Club (TSC) has achieved a remarkable 99% retention rate in its 2026 P&I renewal, alongside an 8% increase in new entered tonnage. CEO Thomas Nordberg praised the team’s dedication, emphasizing TSC’s commitment to proactive risk management and personalized service, solidifying its position in the maritime insurance sector.
Turkish firefighters used an innovative ladder truck rescue to save six crew members from the sinking Sea Star Tilos ferry at Altinova Shipyard. All crew were safely evacuated without injury, but the unique twin-hulled vessel later sank, raising environmental concerns about possible pollution in the surrounding waters.
A tragic boating accident in the Bay of Bengal claimed the life of a 33-year-old woman on February 19. The incident occurred near Puducherry as the private charter boat, carrying her family and other passengers, capsized. Local authorities quickly responded, underscoring the risks of recreational boating and the need for safety.
DetentionTrackr has launched a maritime intelligence platform that consolidates global Port State Control detention data into real-time insights. In February, 72 vessels were detained, totaling 164 since 2026. Co-Founder Thomas Cox highlights the AI-driven approach, enhancing decision-making for stakeholders by transforming fragmented data into structured, actionable intelligence.
BMT has launched its Digital Innovation & Simulation Centre (DISC) in Fareham, UK, featuring advanced simulation technology. Central to the facility is the BMT REMBRANDT navigation simulator, used globally for training and feasibility studies. The center supports both defense and commercial initiatives, focusing on autonomous vessels and digital maritime systems.
West African crude traders are facing significant challenges, as soaring freight costs and widening price spreads dampen Asian buyer interest. With shipping rates hitting a five-year high, Nigerian crude differentials are dropping, prompting traders to offer deeper discounts. Analysts warn that unless the Brent-Dubai EFS improves, adjustments are inevitable.
Argentina has officially joined the 2012 Cape Town Agreement, set to take effect in February 2027. This milestone enhances global maritime safety by establishing mandatory standards for over 45,000 fishing vessels. It aims to improve safety, working conditions for fishers, and protect marine environments, marking a significant advancement in fishing vessel safety.
