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U.S. Coast Guard Cutter Storis (WAGB 21) remains moored during the Storis commissioning ceremony at Juneau, Alaska, August 10, 2025. Storis is the first polar icebreaker acquired in more than 25 years by the Coast Guard with its mission to assure access to the polar regions and protect U.S. sovereignty. (U.S. Coast Guard photo by Petty Officer 3rd Class Carmen Caver)
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Ship Photo of The Week
U.S. Coast Guard Cutter Storis (WAGB 21) is moored during its commissioning ceremony at Juneau, Alaska, August 10, 2025. Storis is the first polar icebreaker acquired in more than 25 years by the Coast Guard with its mission to assure access to the polar regions and protect U.S. sovereignty. U.S. Coast Guard Photo
Top Stories
Scarborough Shoal Tensions Boil Over
The South China Sea saw a double dose of drama this week — a reckless collision between Chinese vessels and a fresh U.S.-China naval clash — all near the disputed Scarborough Shoal.
On Monday, a Chinese navy warship slammed into a China Coast Guard vessel while both chased the Philippine patrol boat BRP Suluan, which was escorting aid to fishermen. Manila says the CCG 3104 made a reckless maneuver and struck the PLA Navy’s No. 164, leaving the coast guard ship’s bow “unseaworthy.” Dramatic video shows the moment of impact. Earlier, Chinese forces had blasted the Suluan with a water cannon, which it evaded.
Beijing blames Manila, saying “full responsibility” lies with the Philippine side and that China has “every reason and the full right” to demand compensation and take countermeasures.
Two days later, China’s navy claimed it expelled the USS Higgins from “its” waters around the shoal, accusing the U.S. of an illegal intrusion. Washington rejected the charge, calling it a lawful freedom of navigation operation to challenge “excessive” claims by China and Taiwan. “Nothing China says otherwise will deter us,” said U.S. Seventh Fleet spokesperson Lt. Sarah Merrill.
Philippine President Ferdinand Marcos vowed his patrols will “continue to be present” in the area, while the U.S. pledged to operate “wherever international law allows.” Beijing claims nearly all of the South China Sea — a position dismissed by an international tribunal.
Trump Admin Slams IMO’s Net-Zero Plan, Puts Members “On Notice”
The Trump Administration has launched a fierce attack on the International Maritime Organization’s proposed “Net-Zero Framework,” branding it “a global carbon tax on Americans” and warning other countries to oppose it or face retaliation.
In a joint statement, Secretaries Marco Rubio (State), Howard Lutnick (Commerce), Chris Wright (Energy), and Sean Duffy (Transportation) vowed the U.S. would reject “any international environmental agreement that unfairly burdens Americans.” The IMO plan, set for adoption in October and mandatory from 2027, would impose fuel-intensity limits and greenhouse gas pricing on large ships — covering about 85% of global shipping CO?.
The administration claims the rules would benefit China, block U.S.-led LNG and biofuel use, and saddle even small vessels with “millions” in fees, driving up energy, transport, and cruise costs. It warned IMO members it will “not hesitate to retaliate” if the plan moves forward.
Supporters, including the International Chamber of Shipping, say the framework is essential for decarbonization and includes a fund to reward low-emission ships, support developing countries, and aid vulnerable states.
The clash comes as Trump faces criticism over tariffs that some analysts warn will also raise consumer prices. The IMO will vote on the Net-Zero Framework in October, with implementation guidelines due in 2026.
Record Imports Surge Meets Cooling Freight Market
The Port of Los Angeles moved more than 1 million TEUs in July — its busiest month in 117 years — as shippers rushed to beat looming tariff hikes. Neighboring Long Beach saw its strongest July ever, moving 944,232 TEUs (+7%). The record throughput comes as imports between the two ports eclipsed 1 million TEUs for the first time in history.
Nationwide, U.S. ports handled 2.62 million TEUs worth of imports in July — the second-highest month on record — fueled by a 44% surge in imports from China, now 35% of the total. But forecasters expect a sharp reversal: NRF and Hackett Associates project August–December volumes will fall 5–21% YoY, with November hitting the lowest since April 2023.
Spot rates continue to slip. Drewry’s World Container Index dropped 3% to $2,350 per FEU this week, its ninth straight decline. Drewry says the post–pre-tariff rush slowdown should temper volatility, but rates are likely to weaken further in H2 2025 as demand softens and capacity shifts.
Analysts warn the downturn could ripple through the economy. “This is the sort of carnage that should be expected with these nonsensical tariffs,” said John McCown. NRF’s Jonathan Gold added that higher costs and fewer imports will strain consumers and small businesses.
With the Aug. 29 repeal of the de minimis exemption and the Oct. 15 end of the U.S.–China tariff truce looming, this summer’s record volumes may soon give way to one of the steepest year-to-year declines in container shipping history.
Panama Canal Eyes Port Expansion
The Panama Canal Authority plans to enter the ports business with tenders for two new terminals — one on the Atlantic, one on the Pacific — both tied to a new LPG pipeline. The canal would own the ports but contract operations to third parties as part of a $8.5B, seven-year capital plan that also includes a new reservoir and infrastructure upgrades. Administrator Ricaurte Vásquez says the goal is to “leapfrog” outdated facilities and compete with modern hubs like Colombia’s Port of Cartagena.
The move comes as Panama reviews concessions held by Hong Kong–based CK Hutchison, which is negotiating a $22.8B sale of its 43-port network — including two near the canal — to a BlackRock- and MSC-led consortium. Talks now include adding a major Chinese investor, reportedly COSCO, to address Beijing’s concerns, with approvals needed from China, the U.S., Britain, and the EU.
USCG Commissions First New Polar Icebreaker in 25 Years
The U.S. Coast Guard has commissioned the USCGC Storis (WAGB 21) in Juneau, Alaska — its first new polar icebreaker in more than a quarter-century — amid rising Russian and Chinese activity in the Arctic.
Formerly the offshore supply ship Aiviq, the 360-foot vessel was acquired in December 2024 and upgraded with advanced communications and defense systems. Acting Commandant Adm. Kevin Lunday said Storis will strengthen U.S. ability to “protect sovereignty and counter malign influence” in northern waters.
Built in 2012 for Shell’s Arctic drilling, the polar class 3-equivalent ship can break one meter of ice at five knots. It will patrol the Arctic immediately, operating from Seattle until Juneau facilities are ready.
The commissioning comes as the Coast Guard tracks five Chinese research vessels near U.S. Arctic waters, following last year’s first-ever joint Chinese-Russian Arctic patrol.
Sanctioned Tanker Pushes Arctic Shipping Limits
Russia is upping the risk in Arctic oil transport with the Latur, a 19-year-old, sanctioned Suezmax tanker now transiting the Northern Sea Route without a permit or icebreaker escort. The Comoros-flagged vessel—blacklisted by maritime safety regimes—left Murmansk August 6 carrying Russian crude bound for China.
The Latur lacks known P&I insurance, lost its IACS classification in February, and is owned by Seychelles-based Gessi Maritime, designated by the U.S. in January. Parts of the route remain ice-covered, raising safety concerns as Moscow increasingly uses older, non–ice-class ships for polar oil runs.
Once part of shadow fleet operator Gatik Ship Management, the tanker’s opaque ownership and poor compliance track record add to scrutiny from Western regulators. Norwegian authorities, alarmed by similar traffic idling off their coast, are stepping up inspections to curb environmental risks and shadow fleet operations.
Orsted Crashes on $9.4B Cash Call for U.S. Wind Project
Orsted shares plunged to a record low this week after the Danish wind giant announced a $9.4B rights issue — equal to half its market value — to fund its Sunrise Wind project off the U.S. East Coast. The move follows the exit of potential partners, spooked by President Trump’s hostility to offshore wind and a temporary halt on a neighboring Equinor project earlier this year.
CEO Rasmus Errboe called the capital raise “the only option” amid inflation, supply chain delays, and shifting subsidies that have battered the industry. Two-thirds of the funds will go to Sunrise Wind, with the rest bolstering finances as Orsted builds 8.1 GW of offshore capacity by 2027.
Denmark, which owns 50.1% of Orsted, will take part in the share sale. The company also plans to raise $5B+ from asset sales in Europe, Taiwan, and the U.K.
X-Press Feeders Blasts $1B Sri Lanka Ruling Over X-Press Pearl
X-Press Feeders is pushing back against a Sri Lankan Supreme Court order to pay $1B in damages within a year over the 2021 X-Press Pearl disaster, calling the ruling “deeply troubling” and warning it sets a dangerous precedent for global shipping.
The company says the judgment rejects core maritime liability principles and unfairly detains the vessel’s Master—stranded in Sri Lanka for 4.5 years despite no concluded trial. The London P&I Club criticized the court for imposing the record interim payment without witness testimony, expert evidence, or cross-examination.
The Pearl caught fire and sank off Colombo carrying nitric acid, oil, and plastics, polluting 80km of coastline. X-Press says it has already paid $150M for cleanup and compensation, and argues officials ignored the leaking cargo before the blaze. Parallel legal proceedings are underway in Singapore and London.
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