Military Jets’ Crew Members Safely Ejected after Idaho Air Show Collision, Navy Says
Four crew members of two E/A-18G Growler military jets eject safely following a mid-air collision during the Gunfighter Skies Air Show outside Mountain Home Air Force Base in Idaho, U.S. May 17, 2026, in this screengrab obtained from a handout video. Henk Zuurbier/Handout via REUTERS THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY.
Marshall Islands Registry: Gearing Up for Further Growth
Marshall Islands Registry: Gearing Up for Further Growth
in
Hellenic Shipping News
18/05/2026
T
he IRI / Marshall Islands Registry is gearing up to further grow, with quality in mind, over the coming years. Reflecting on the changes of the past 20 years and today’s challenges, Mr. Theofilos Xenakoudis, Chief Commercial Officer and Managing Director of the IRI / Marshall Islands Registry, Piraeus Office, said in an exclusive interview with Hellenic Shipping News Worldwide: “Twenty years ago, communication was different and vessel owners and operators looked at the flag State as a regulator.
Global Oil Inventories Are Collapsing at Record Pace, IEA Warns
Stock Photo: tcly / Shutterstock
Global Oil Inventories Are Collapsing at Record Pace, IEA Warns
Mike Schuler
Total Views: 0
May 18, 2026
The International Energy Agency says the ongoing
Strait of Hormuz crisis
is triggering one of the most severe oil market disruptions in modern history, with global oil demand now expected to contract in 2026 as supply losses mount and inventories collapse at a record pace.
In its latest monthly Oil Market Report released Thursday, the IEA said global oil demand is now forecast to decline by 420,000 barrels per day year-over-year in 2026 to 104 million barrels per day—roughly 1.3 million barrels per day lower than the agency’s pre-war forecast.
The sharpest declines are expected during the second quarter, with global demand projected to fall by 2.45 million barrels per day compared to last year as higher prices, economic weakness and fuel-saving measures ripple through the global economy. The petrochemical and aviation sectors have been hit hardest so
Boskalis Orders Massive New Cable Layer for Offshore Energy Projects
Rendering of Boskalis’ new 24,000-ton Cable Lay Vessel, designed to support long-distance HVDC cable installation for offshore wind farms and international power interconnectors. Image courtesy Boskalis.
Boskalis Orders Massive New Cable Layer for Offshore Energy Projects
Mike Schuler
Total Views: 0
May 18, 2026
Dutch offshore contractor
Royal Boskalis Westminster N.V.
is betting big on the future of subsea power infrastructure, announcing plans to build a massive new 24,000-ton Cable Lay Vessel (CLV) designed to support the rapid expansion of offshore wind farms and cross-border energy interconnectors.
The vessel, unveiled Monday, will feature two 12,000-ton cable carousels — including a concentric carousel configuration — allowing it to install significantly longer continuous cable sections while reducing the number of offshore cable joints required during installation. The design is aimed squarely at the growing market for high-voltage direct current (HVDC) transmission systems, whi
Norway Joins EU Baltic Sea Strategy as Full Member Amid Regional Security Push
Finnish Border Guard’s ship Turva escorts Cook Islands-registered oil tanker Eagle S out to sea on the Baltic, March 2, 2025 near Porvoo, Finland in handout picture released by the Finnish Border Guard. Lehtikuva/Finnish Border Guard/Handout via REUTERS
Norway Joins EU Baltic Sea Strategy as Full Member Amid Regional Security Push
Mike Schuler
Total Views: 0
May 18, 2026
Norway has officially become a full member of the European Union Strategy for the Baltic Sea Region (EUSBSR), marking a significant expansion of regional cooperation as Europe sharpens its focus on security, resilience and economic coordination along its northeastern flank.
The move formalizes Norway’s role in the bloc’s macro-regional framework after years of participating as a de facto partner alongside the eight EU member states bordering the Baltic Sea: Denmark, Estonia, Finland, Germany, Latvia, Lithuania, Poland and Sweden.
European Commission Executive Vice-President for Cohesion and Reforms Raffaele Fitto said
Steven Grotsky appointed M&O Sales & Marketing Vice-President at Bureau Veritas
Steven Grotsky appointed M&O Sales & Marketing Vice-President at Bureau Veritas
in
International Shipping News
18/05/2026
Bureau Veritas Marine & Offshore has recently appointed Steven Grotsky as Sales & Marketing Vice-President.
In this role, Steven leads the Sales & Marketing function, driving profitable growth and excellence in sales performance across Bureau Veritas Marine & Offshore. He supports the organization’s ambition to further strengthen its market position and enhance client engagement across the marine and offshore sectors.
Steve brings more than 20 years of experience in maritime and classification services, with extensive expertise in developing and executing sales strategies, business growth initiatives and commercial enablement programs. Prior to joining Bureau Veritas, he led Maritime Strategy and Innovation at Saudi Aramco.
Steve trained at the United States Merchant Marine Academy and served in the United States Navy Reserve, retiring with the rank of Lieutenant Co
Iran Launches Official ‘Persian Gulf Strait Authority’ Account, Declares Unauthorized Hormuz Transit ‘Illegal’
The Malta-flagged tanker Agios Fanourios I, an oil tanker that sailed through the Strait of Hormuz, arrives in Iraq’s territorial waters off Basra,Iraq April 17, 2026. REUTERS/Mohammed Aty
Iran Launches Official ‘Persian Gulf Strait Authority’ Account, Declares Unauthorized Hormuz Transit ‘Illegal’
Mike Schuler
Total Views: 0
May 18, 2026
The Iranian-backed Persian Gulf Strait Authority (PGSA) has officially launched a public presence on X, marking the clearest effort yet by Tehran to formalize and publicize its emerging control regime over commercial shipping transiting the
Strait of Hormuz
.
The newly launched account, operating under the handle “PGSA_Iran,” introduced itself Monday as the “official X account of the Persian Gulf Strait Authority” and said it would provide “real-time updates” on operations and developments in the strategically critical waterway.
In a second post, the organization declared itself the “legal entity and representative authority of the Islamic Republic of
Treasury Extends Russian Oil Waiver as Hormuz Crisis Tightens Global Supplies
Aerial photo of an oil tanker at anchor. Stock Photo: Nickeo23/Shutterstock
Treasury Extends Russian Oil Waiver as Hormuz Crisis Tightens Global Supplies
Mike Schuler
Total Views: 0
May 18, 2026
U.S. Treasury Secretary Scott Bessent announced Monday that the Treasury Department is issuing a temporary 30-day general license allowing “the most vulnerable nations” to access Russian oil cargoes currently stranded at sea, framing the move as an effort to stabilize global crude markets amid ongoing disruption tied to the
Strait of Hormuz
crisis.
The announcement appears to expand on earlier
Russia-related sanctions
relief measures issued by OFAC in March, which temporarily authorized certain deliveries of Russian-origin crude already loaded before sanctions deadlines.
Iran Launches Bitcoin-Based Insurance Scheme for Ships Crossing Hormuz
Stock Photo: Evgeny Shulin / Shutterstock
Iran Launches Bitcoin-Based Insurance Scheme for Ships Crossing Hormuz
Bloomberg
Total Views: 0
May 18, 2026
By Golnar Motevalli (Bloomberg) — Iran has started a Bitcoin-backed insurance service for Iranian shipping companies that want to transit the
Strait of Hormuz
, the semi-official Fars news agency reported, citing documents obtained from the country’s Ministry of Economy and Financial Affairs.
According to a screen shot of the insurance company’s website, dubbed Hormuz Safe and shared by Fars news, it “provides Iranian shipping companies and cargo owners with fast, verifiable digital insurance.” Fars didn’t give a detailed break down of how the insurance works and whether it’s available to foreign shipping companies and vessels.
Iran is heavily sanctioned by the US and its use of cryptocurrencies like Bitcoin and Tether has ballooned since President Donald Trump started targeting its economy and energy exports during his first administrat
The Great Battleship Debate: gCaptain’s Konrad Takes On AEI’s Zack Cooper
Thumbnail photo courtesy of Sal Mercogliano
The Great Battleship Debate: gCaptain’s Konrad Takes On AEI’s Zack Cooper
gCaptain
Total Views: 1
May 18, 2026
The U.S. Navy has not commissioned a battleship since 1944. Donald Trump now wants as many as 25.