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First grand block of the "Makua" being lowered into the construction dry dock. August 4, 2025. The vessel is the first of three LNG-powered containerships under construction at Hanwha Philly Shipyard for service in the Pacific. Photo courtesy Hanwha Philly Shipyard
Hello Club Members! Here is your weekly Dispatch with all the maritime news you need to know to end your week.
Ship Photo of The Week
First grand block of the “Makua” being lowered into the construction dry dock. August 4, 2025. The vessel is the first of three LNG-powered containerships under construction at Hanwha Philly Shipyard for service in the Pacific. Photo courtesy Hanwha Philly Shipyard
Top Stories
Trump Slaps the World with Tariffs — and Global Trade Shudders
Brace your supply chains — President Trump has launched one of the broadest tariff crackdowns in U.S. history, hitting all imports with a new 10% baseline, plus steep surcharges for dozens of countries and key products.
Here’s the damage:
Brazil: 50%
India: 25% now, another 25% on deck
China: 30% — with the deal expiring Aug 12
Canada, UK, Japan: No passes for allies
Africa, Southeast Asia, Europe: 15–30% across the board
Even the Falkland Islands made the cut.
Product-specific hits:
Steel & aluminum: 50%
Autos & parts: 25%
Copper: 50%
Threats loom for pharma (200%), semiconductors (25%), and yes — iPhones and movies.
Ports and retailers are bracing for impact. Global Port Tracker now expects U.S. import cargo volumes to fall 5.6% in 2025 after year-over-year growth in the first-half, with second-half declines accelerating and November poised to hit the lowest monthly volume since April 2023.
BIMCO reports that effective U.S. tariff rates surged from 2.4% in January to 26% in April, triggering chaotic pre-loading and collapsing spot rates — down 60% since June on the Shanghai–U.S. route.
Industry analyst John McCown calls it what it is: “Carnage.”
India in the Crosshairs
In other tariff news, Trump this week signed an Executive Order doubling tariffs on Indian imports, citing the country’s continued purchases of sanctioned Russian oil. New Delhi fired back, calling the move “unfair, unjustified, and unreasonable,” while accusing the U.S. of hypocrisy.
Indian refiners have reportedly started cutting Russian crude under pressure — but Modi’s government isn’t budging publicly. The diplomatic fallout threatens to unwind decades of U.S.–India strategic cooperation.
India may just be the warm-up. Trump has set a Friday deadline for Russia to agree to a Ukraine ceasefire — or else secondary tariffs will hit all buyers of Russian oil, including China.
From targeting China and India to punishing Brazil and pressuring Mexico on fentanyl, Trump’s tariffs are now a multi-tool of U.S. foreign policy. But critics warn the strategy could backfire — especially with energy markets on edge and trade deals in play.
Maersk: Storm Clouds, But Still Sailing
Meanwhile, Maersk raised its full-year profit forecast as container demand stays strong despite tariff turbulence. The company now sees global container volumes growing 2%–4% in 2025 — a solid upgrade from earlier forecasts that dipped into negative territory.
CEO Vincent Clerc says U.S. volatility has been offset by surging volumes into Europe and other regions, and that China’s expanding trade footprint is reshaping global flows.
Maersk posted:
Q2 EBITDA: $2.3B (+7% YoY)
Revenue: $13.1B (+3%)
Share price: +60% since April
Still, the August 12 U.S.-China tariff deadline looms large. Maersk is staying the course — but the trade winds are shifting fast.
Titan Tragedy Was ‘Preventable,’ Says Coast Guard in Scathing Report
The U.S. Coast Guard this week released a blistering 300-page report on the 2023 Titan submersible disaster, concluding that the implosion was preventable and stemmed from a cascade of failures at OceanGate — including faulty design, ignored warnings, and a toxic workplace culture.
The Marine Board of Investigation (MBI) found that the Titan’s carbon fiber hull likely failed at a weak joint or delaminated under extreme pressure at 3,346 meters. The catastrophic implosion on June 18, 2023, killed all five onboard instantly — just seconds after its last transmission.
The report singles out OceanGate CEO Stockton Rush, who perished in the dive, for dismissing acoustic warning signs from a prior 2022 dive (known as “Dive 80”) and halting further inspections. Engineers flagged troubling strain data and a loud bang during that dive — both signs of structural trouble — but Rush waved them off as minor.
The MBI also exposed a toxic work environment where employees were silenced through intimidation and firings, undermining safety. OceanGate, the report says, exploited regulatory loopholes to bypass oversight and operated outside accepted deep-sea safety norms.
While no criminal charges were recommended — only because Rush died — investigators said they would have referred him for prosecution under the Seaman’s Manslaughter statute had he survived.
A Blueprint for Reform in Uncharted Waters
But the report does more than assign blame. The Coast Guard’s 17 safety and administrative recommendations represent a foundational shift for the emerging submersible industry.
At the top of the list: ending the “Oceanographic Research Vessel” loophole that allowed Titan to operate without inspection or classification. Other recommendations call for mandatory federal documentation, third-party oversight, pre-dive planning, and modernized international standards under the IMO.
Among the key changes:
No more ORV exemptions for submersibles—passenger safety regs must apply.
USCG documentation and third-party classification required for all U.S. submersibles.
Pre-dive plans, voice comms, and emergency protocols now a must.
Whistleblower protections clarified through a new Coast Guard–OSHA MOU.
Subsea SAR capabilities upgraded, with Navy and ROV partnerships recommended.
The board also called for the Coast Guard to modernize outdated guidance (NVIC 5-93) and work with the IMO to turn soft guidelines into hard law for submersible passenger safety.
A Reckoning for Deep-Sea Innovation
While OceanGate has ceased operations, the Coast Guard’s message is aimed at the wider subsea industry: novel design does not excuse regulatory evasion. As deep-sea tourism and ocean research expand, the Titan disaster is now a case study in what happens when oversight lags behind innovation.
“This tragedy was preventable,” said MBI Chair Jason Neubauer. “These findings should be a wake-up call.”
Unprecedented Chinese Icebreaker Flotilla in Arctic
Xue Long 2, Tan Suo San Hao, Zhongshandaxue Ji Di, Ji Di, and Shen Hai Yi Hao. (Sources: PRIC, Chinese state media, Sun Yat-Sen University, China’s Ministry of Natural Resources, CFP)
The U.S. Coast Guard is tracking five Chinese research vessels, including three icebreakers, operating in or near U.S. Arctic waters — the largest such presence to date. Aircraft and cutters from Operation Frontier Sentinel responded to the activity, which includes the Xue Long 2 and Zhong Shan Da Xue Ji Di transiting the Bering and Chukchi Seas.
The Coast Guard says the deployments are part of a three-year surge in Chinese Arctic activity and raises concerns about dual-use missions cloaked as science. Meanwhile, the U.S. has just one icebreaker in the region, with a second set to join the fleet on Sunday.
“The U.S. Coast Guard is America’s only surface presence in the Arctic,” it stressed, calling for continued investment in icebreaking capability amid rising geopolitical competition.
Panama Tightens Grip on Shadow Fleet
Panama has launched a multi-pronged crackdown on the shadow fleet, rolling out a world-first rule requiring traceability for ship-to-ship (STS) oil transfers and barring the registration of tankers or bulkers over 15 years old.
Effective August 6, all Panamanian-flagged oil vessels over 150 GT must report STS ops 48 hours in advance — part of new oversight targeting opaque, underinsured vessels involved in sanctions evasion. The age ban follows data showing that 71% of vessel arrests involved ships older than 15 years.
The Panama Maritime Authority (AMP) also moved to cancel 17 vessels recently added to the U.S. OFAC sanctions list, citing a zero-tolerance policy. These actions build on the deregistration of 107 ships in March and more than 650 removals since 2019.
Additional reforms include mandatory quarterly inspections, tighter Ship Safety Management verification, and enhanced vetting through a Precheck Process. Panama also participates in the RISC flag-state information-sharing pact with Liberia and the Marshall Islands.
With 8,500+ ships on its books, Panama says it’s committed to responsible flag-state governance — and that its registry “will not negotiate with those seeking to use it improperly.”
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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