gCaptain Club

Dispatch No. 72

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Hello Club Members! Here is your weekly Dispatch with all the maritime news you need to know to end your week.

Ship Photos of The Week

EU’s 18th Sanctions Package Adds 105 Tankers to Blacklist

The EU has approved its 18th sanctions package against Russia, targeting Moscow’s shadow fleet and oil revenues in its latest crack down. An additional 105 tankers—accused of bypassing price caps and shipping sanctioned oil—are now banned from EU ports and services, bringing the total to 444 vessels blacklisted.

For the first time, sanctions extend to individual captains, ship operators, and even a flag registry. A major Indian refinery linked to Rosneft was also sanctioned.

The package also includes the lowering of its “ineffective” Russian crude oil price cap from $60 to an adjustable rate 15% lower than market—or roughly $47.60 per barrel—and banned refined products made from Russian crude entering via third countries, while a full transaction ban was also placed on the Nord Stream pipelines.

Brussels calls it the toughest sanctions package yet, aiming to squeeze Russian oil revenues further. Moscow brushed it off as “illegal,” claiming it has “adapted to life under sanctions.” Meanwhile, the U.S. refused to back the lower price cap, leaving the EU to go it alone.

Trump’s Shipbuilding Push Stumbles

The Trump administration’s effort to revive U.S. shipbuilding is facing fresh setbacks following the departure of key White House maritime officials. National Security Council maritime chief Ian Bennitt and NSC chief of staff Brian McCormack both left their posts last week, sources confirmed, as the former heads to the private sector while McCormack will become chief of staff to Senator Bill Hagerty.

Bennitt’s departure is especially notable, coming just months after Trump signed an April executive order to revive U.S. shipyards and counter China’s global maritime dominance. Following Trump’s announcement of a new shipbuilding office during a joint session address in March, the White House promoted the establishment of a dedicated maritime office within the NSC as a key signal of its long-term commitment to the industry.

That office, however, has quickly unraveled. By early July, five of seven maritime staffers had departed, and the shipbuilding office has now been transferred to the White House’s Office of Management and Budget (OMB), which will oversee the $43 billion shipbuilding initiative included in the GOP’s megabill.

Bennitt called OMB a “better home” for the effort, but industry leaders remain skeptical. While the White House insists shipbuilding remains a top priority, the rapid staff turnover is fueling concerns over its ability to deliver on the administration’s ambitious shipbuilding agenda.

Search Ends After Deadly Attack on Eternity C

The search for survivors from the sunken bulk carrier Eternity C officially ended earlier this week, with 10 crew rescued, six believed taken hostage, and nine confirmed or presumed dead. The Liberian-flagged vessel was attacked twice by Houthis off Yemen before sinking on July 9. It’s the deadliest Red Sea attack since the Houthi campaign began, pushing the total death toll to 13 and now four ships sunk following the loss of the Morning Seas just days earlier. .

Box Rates Dip as Tariff Impact Fizzles

Container spot rates slipped again this week, with a mid-July general rate increase (GRI) doing little to lift prices on key transpacific and Asia-Europe routes. Drewry’s World Container Index (WCI) saw its fifth straight weekly drop, with Shanghai-Los Angeles rates falling 4% and Shanghai-New York down 6%.

Similar declines showed across other indices, driven by softer U.S. import demand after earlier tariff front-loading. Drewry warned the market is headed for a weaker second half as overcapacity bites and the post-tariff rate bump fades.

Analysts say rate volatility now hinges on Trump’s pending tariffs and possible U.S. fees on Chinese vessels, adding more uncertainty to already shaky demand.

World’s First Ammonia-Fueled Marine Engine Enters Service

Swiss firm WinGD has delivered the world’s first ammonia-fueled two-stroke marine engine, installed on EXMAR’s new LPG/ammonia carrier. Built by HD Hyundai, the X52DF-A engine promises low emissions and diesel-like efficiency, marking a key milestone in shipping’s decarbonization drive.

WinGD said it has 30 more ammonia engines on order, signaling rising demand for carbon-free fuel options. The breakthrough comes as alternative fuel vessel orders surge 78% year-on-year in the first half, with ammonia gaining traction alongside LNG which continues to dominate in the transition.

China’s Shipbuilding Market Share Plunges Amid U.S. Fee Threat

An eye-catching report from BIMCO this week highlighted how China’s share of global ship orders have plummeted from 72% to 52% in early 2025 as looming U.S. port fees on Chinese-built ships spook shipowners. Global orders also plunged 54% year-on-year, especially in tankers, bulkers, and gas carriers. South Korea gained ground in crude tankers, while China faces growing competition from Vietnam, the Philippines, and long-term U.S. and Indian ambitions. Despite the slip, BIMCO says China’s dominance remains secure—at least for now.

Seafarer Abandonments Surge

Seafarer abandonments have jumped 30% this year, with 2,286 crew on 222 ships stranded without pay or essentials, according to a shocking new report out this week by the ITF. Unpaid wages now top $13.1 million, with the Arab World and Europe accounting for over 70% of cases. The report showed how certain Flags of Convenience are contributing to the crisis, with St. Kitts & Nevis, Tanzania, and Comoros leading the pack. The ITF is urging urgent global action to tackle rogue shipowners and protect the industry’s workforce.

China Pushes to Muscle In on $22 Billion Global Ports Sale

Beijing is threatening to block CK Hutchison’s $22.8 billion ports sale to BlackRock and Mediterranean Shipping Company unless state-owned COSCO gets a stake, according to the Wall Street Journal. The record deal covers 43 ports in 23 countries, including two near the Panama Canal—where President Trump claims China has “taken control”. Exclusive talks expire July 27, with Hutchison, MSC, and BlackRock reportedly open to Cosco’s involvement but no agreement yet reached.

New York Hits Pause on Offshore Wind Transmission Plans

New York has paused a major offshore wind transmission plan, citing stalled federal permits and ratepayer costs. The PSC halted its goal to deliver 8 GW of wind power to NYC by 2033, following Trump administration freezes on new leases. The move is the latest blow to offshore wind after the administration rattled the industry by abruptly halting, then restarting, construction on Equinor’s $5 billion Empire Wind project.

Existing projects like Empire Wind, South Fork, and Sunrise Wind will continue, but critics warn offshore wind is now caught in a broader energy battle as demand from AI and data centers grows. The PSC will revisit the issue in its 2026 energy review.

Australia Probes Propulsion Failure on Giant Bulker

Australia’s transport watchdog is investigating a February propulsion failure aboard the 260,000 DWT FMG Nicola at Port Hedland after learning new details about the incident. The loaded ore carrier lost engine power mid-channel, drifting dangerously close to the edge before tugs regained control. No damage was found, but ATSB says urgent safety action will be taken if serious risks are uncovered.

As always, we’d love to hear your feedback. Email [email protected] with any questions, comments, tips, or concerns. Don’t forget to check out the Club Discord and gCaptain.com for the latest maritime news.

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