Presentation of the ECB Annual Report 2025 to the Committee on Economic and Monetary Affairs of the European Parliament
Presentation of the ECB Annual Report 2025 to the Committee on Economic and Monetary Affairs of the European Parliament
in
World Economy News
06/05/2026
It is a privilege to present the ECB’s Annual Report for 2025 to this Committee. As you may know, it is the last time I will do so, as my eight-year mandate as Vice-President comes to an end later this month. That makes today’s exchange particularly meaningful for me.
Alongside the Annual Report, we are publishing our formal response to the European Parliament’s resolution on last year’s report.
Synthetic rope replaces steel wire on deepwater support vessel, changing how crew work on deck
Synthetic rope replaces steel wire on deepwater support vessel, changing how crew work on deck
Posted to
Maritime Reporter
(by
Teijin Aramid
)
on
May 3, 2026
Stabbert Maritime has retrofitted its multipurpose offshore support vessel Ocean Guardian with a synthetic hoisting system after steel wire rope began dictating how and where crew could safely work during daily deepwater operations.
The Seattle-based operator runs Ocean Guardian on continuous subsea, survey, and scientific support missions to depths of 6,000 meters. At that depth and frequency, lifting is not an occasional event. It is a daily routine, and the properties of the hoisting rope directly affect how every other task on deck gets done.
Steel wire created three compounding problems.
Pakistanis among hijacked oil tanker crew face food, water shortages — rights group
Pakistanis among hijacked oil tanker crew face food, water shortages — rights group
in
International Shipping News
05/05/2026
Ten Pakistani nationals among the crew of a hijacked oil tanker are facing worsening shortages of food and drinking water, a rights group said on Monday, raising alarm over their safety as the standoff drags on with no clear resolution in sight.
The oil tanker, MT Honor 25, was seized on April 21 off the coast of Somalia. Its multinational crew includes 10 Pakistanis, four Indonesians, and one national each from India, Sri Lanka and Myanmar.
Ansar Burney Trust International, a Pakistani human rights group that established contact with the Somali pirates who hijacked the vessel, said while the sailors were safe, the humanitarian situation aboard the vessel was deteriorating.
“They are currently stable but if food and medical supplies are not delivered to them promptly, the situation may become difficult,” Ansar Burney, chairman of the Pakistani human rights organ
Fresh Hormuz Attack Underscores Risks of Trump’s ‘Project Freedom’ Push
Central Command (CENTCOM) forces began setting conditions for clearing mines in the Strait of Hormuz, April 11, as two U.S. Navy guided-missile destroyers conducted operations. Central Command Photo
Fresh Hormuz Attack Underscores Risks of Trump’s ‘Project Freedom’ Push
Mike Schuler
Total Views: 0
May 5, 2026
UKMTO has issued a new verified attack warning for the Strait of Hormuz after a cargo vessel was reportedly struck by an “unknown projectile,” underscoring the continued dangers facing commercial shipping despite Washington’s push to reopen limited traffic through the waterway.
The advisory was issued at 1830 UTC on May 5 and states that “a verified source reported a cargo vessel has been struck by an unknown projectile.” UKMTO said the environmental impact remains unknown and advised ships in the area to report suspicious activity while authorities investigate.
No vessel name, flag, ownership details, or exact location were included in the initial warning.
The latest incident com
Matson’s Fleet Expansion Moves Into Full Production at Hanwha Philly Shipyard
Matson’s first Aloha class ship ‘Daniel K. Inouye’ making its first approach to Honolulu on its maiden voyage, November 28, 2018. Photo: Matson
Matson’s Fleet Expansion Moves Into Full Production at Hanwha Philly Shipyard
Mike Schuler
Total Views: 0
May 5, 2026
Matson’s $1 billion Aloha Class fleet renewal program reached another major milestone Tuesday as
Hanwha Philly Shipyard
advanced construction on the second and third LNG-powered containerships destined for the Jones Act trades.
The latest milestones build on the program’s
October 2024 steel-cutting ceremony
for the first vessel, which marked the return of commercial containership construction at the Philadelphia yard after several years focused largely on government work and repair contracts.
Tuesday’s events included the dock mounting of the first grand block assembly for the program’s second vessel — signaling the start of hull assembly — along with the official steel cutting for the third and final ship in the series.
The thr
Usage of Algorithms in Bridge Simulators to Enhance Learning
Usage of Algorithms in Bridge Simulators to Enhance Learning
Sponsored
Total Views: 0
May 5, 2026
By Capt. Abhinandan Prasad MNI
Lecturer – SUNY Maritime College, New York
In recent years, advances in computing — from artificial intelligence to adaptive learning
systems — have shown how algorithms can transform the way we work and more
importantly, the way we learn. In maritime education, where hands-on practice is just as
important as conceptual classroom theory, the potential for algorithms to refine simulator-
based training is exceptionally appealing.
Bridge Resource Management (BRM) courses, guided by STCW requirements and the IMO
Model Course for the same, aim to develop competencies ranging from clear communication
to effective teamwork.
Stop Digitizing the Problem: A Smarter Approach to Maritime Software
Stop Digitizing the Problem: A Smarter Approach to Maritime Software
Posted to
Maritime Reporter
(by
ABS Wavesight
)
on
May 3, 2026
The industry is focused on managing cost and maximizing efficiency, so why do some operators resist adopting technology, asks Captain Steve Bomgardner, CEO, ABS Wavesight
Why do some companies struggle with digital transformation? The answer is pretty clear if we trace the evolution of vessel operations over as little as the last 20 years.
At that time ships were much more heavily-crewed, but many operators progressively slimmed down crew sizes as they found they could manage with fewer seafarers and still remain compliant with minimum manning levels.
There was no digital transformation taking place – the loss of the radio operator in particular seemed to signal the opposite – but the burden of work on the crew continued to increase. A vessel might go from 25 or 30 crew to 15 or 20 which meant those onboard often had to do more work, but more quickly and u
Trump Abruptly Pauses ‘Project Freedom’ Hormuz Shipping Operation as Iran Talks Advance
President Donald Trump speaks in the Oval Office, with Vice President JD Vance and Secretary of State Marco Rubio standing behind him, at the White House in Washington, D.C., U.S., April 23, 2026. REUTERS/Kylie Cooper
Trump Abruptly Pauses ‘Project Freedom’ Hormuz Shipping Operation as Iran Talks Advance
Mike Schuler
Total Views: 1
May 5, 2026
President Donald Trump said Tuesday that the United States is pausing its newly launched “Project Freedom” maritime operation in the Strait of Hormuz as negotiations with Iran move toward what he described as a potential “complete and final agreement.”
In a social media post, Trump said the decision followed requests from Pakistan and “other Countries” and cited both recent U.S. military operations against Iran and diplomatic progress with Iranian representatives.
“We have mutually agreed that, while the Blockade will remain in full force and effect, Project Freedom (The Movement of Ships through the Strait of Hormuz) will be paused for a short p
India is burning more coal as extreme heat and the Iran war squeeze energy supplies
India is burning more coal as extreme heat and the Iran war squeeze energy supplies
in
Dry Bulk Market
,
Freight News
06/05/2026
India, the world’s third-largest carbon dioxide emitter, is burning more coal as energy supply disruptions due to the Iran war and a nationwide heatwave have boosted demand for the dirty fuel.
More than 70% of India’s power is generated from coal-fired plants, and energy experts told CNBC that the share is expected to rise this year.
In February, India announced that more than 52% of its total installed power generation capacity came from non-fossil fuel sources, with the majority coming from solar, hydropower and wind. Yet, coal-fired power plants, which account for nearly 43% of total generation capacity, remain the dominant source of energy.
Coal-fired power generation in India in April increased to 164.9 average gigawatts, compared with 160.7 average gigawatts last year, according to data shared by S&P Global Energy. According to the data, coal-fired powe
CO₂e emissions in the Rotterdam port area rose in 2025 due to increased electricity generation for Europe
CO₂e emissions in the Rotterdam port area rose in 2025 due to increased electricity generation for Europe
in
Port News
06/05/2026
Greenhouse gas emissions at companies in the port of Rotterdam industrial cluster increased by 2.1 Mton (11%) between 2024 and 2025. This is evident from emission data published by the Netherlands Emissions Authority (NEa). The increase was primarily due to the higher levels of electricity production.