The Panamax Post Tuesday, July 7th

Good morning, and welcome to the daily Panamax Post column

A surfer rides a smooth ocean wave under a clear blue sky while balancing on a longboard

With much in the news, I wish you good fixtures and safe travels. And now for the news before the headlines.

A cargo vessel has reportedly come under attack by assailants on skiffs off the coast of Yemen in the southern Red Sea.

After taking what was called a preemptive step in June to lower the maximum drafts of vessels, the Canal de Panamá Authority announced it will step down the draft levels in two stages in July and August.

Last week, a Russian maritime patrol aircraft made a close pass by a Royal Navy aircraft carrier and dropped large numbers of sonobuoys near it at close range.

China’s major ports saw positive growth in overall cargo throughput and container volumes from January to May 2026. Over this period, the aggregate cargo throughput of ports nationwide reached 7.51bn tonnes, up 2.2% YoY.

The IMO is growing increasingly concerned over the fate of dozens of seafarers who are currently being held for ransom by Somali pirates.

The INDIAN COAST GUARD was forced to mount a rescue mission on as three tankers detained by the Indian courts were being driven toward shore.

Advent has exited its investment in British subsea acoustic sensing company Ultra Maritime, selling the sonobuoy and sonar maker to Lockheed for $3.45bn.

The proposed sale of ZIM Integrated Shipping Services to Hapag-Lloyd AG and Israeli private equity firm FIMI is facing its most serious political challenge yet after prime minister Benjamin Netanyahu and defence minister Israel Katz came out against the deal.

Taiwanese prosecutors have raided the premises of Evergreen Marine Corporation as part of an insider trading investigation linked to one of the world’s largest container lines.

Norwegian energy major Equinor has reached an agreement with supermajor bp to acquire its interest in the Bay du Nord project offshore Canada, increasing its ownership to 100%.

Marine construction contractor Ocean Installer, a Moreld subsidiary, has exercised an option to keep the 2014-built construction support vessel Normand Vision for another year.

Offshore contracting giant TechnipFMC has been awarded a contract by Italian major Eni for Baleine Phase 3.

The Gulf states are some of the world’s most prolific exporters of raw sulfur, the core ingredient for sulfuric acid, the world’s most-produced industrial chemical.

Maritime services company Boskalis celebrated the commissioning of its new vessel Windpiper, which is the largest subsea rock installation vessel.

 

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