Good morning, and welcome to the daily Panamax Post column.
 
With much in the news, I wish you good fixtures and safe travels. And now for the news before the headlines.
 
The US DOJ has indicted four major container manufacturers and seven executives over an alleged Covidera cartel that sharply inflated dry box prices and profits.

The Wall Street Journal reports U.S. forces overnight seized an Iran-linked oil tanker, VLCC Skywave, in the Indian Ocean, though the Pentagon has yet to officially comment on the operation.

Baltic Dry Index was down for a third session falling about 1.2% to 3,054 points.
 
The UK government has loosened strict sanctions on Russian oil refined into diesel and jet fuel in third countries as prices rise.

Three inbound Odesa vessels were reportedly struck, with Ukraine highlighting damage to a Chinese-owned bulker ahead of the Putin–Xi summit.

US grain futures rallied sharply after the White House said China would buy an additional $17bn of US agricultural products, reviving hopes of stronger agri trade flows.
 
The U.S. Treasury has once again extended a sanctions waiver for the sale of Russian oil already on the water, despite past statements that there would be no further extensions.
 
Two laden Chinese-owned VLCCs appeared to cross the Strait of Hormuz exiting the Arabian Gulf on 19 May, while a South Korean tanker is also transiting today.

AST Networks and CyberOwl are offering 24/7 vessel IT and OT monitoring as cyber risk becomes a sharper compliance and operational threat for shipowners.

The tussle between Genco Shipping & Trading Limited and Diana Shipping Inc. for control of Genco continues to roll on as the acquisition target’s annual shareholder meeting approaches on June 18.

Indonesia is stepping up efforts to secure the release of four of its citizens held aboard the hijacked tanker MT Honour25 after Somali pirates seized the vessel near the coast of Somalia last month.
 
A court in Aberdeen, Scotland has fined rig operator Valaris Limited a total of $385,000 for the death of a worker who fell through a hole left by a missing deck grating.
 
The EU’s Horizon Europe programme has awarded €5m to a Stillstrom-led consortium to develop offshore charging infrastructure for vessels at anchor.
 
Drone attacks on Gulf states increasingly appear tied to Iran’s wider regional messaging strategy, running in parallel with diplomatic negotiations between Tehran and Washington in Islamabad.

USCG has banned two vessels from Med-mooring in a narrow San Juan waterway, raising the risk of disruption to US Virgin Islands freight links.

WinGD Ltd.’s ethanol-fuelled engine order for Vale-chartered ore carriers puts ethanol firmly into the deep-sea decarbonisation debate.

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