CHRISOULA

In December of 2025, the U.S. Coast Guard announced the award of two contracts to build up to six Arctic Security Cutter (ASC) icebreakers. The announcement declaring the vessels would be built between the United States and Finland in a major step forward for America’s national security in the Arctic region. The decision process encompassed more than the security of the Arctic passage. It announces a major shift in the U.S. Shipbuilding process. A second round of contracts were approved February 11, 2026 involving Davie in Canada and its recently purchased shipyard facility in Port Arthur, Texas under a similar agreement and process.

In a move that further reshapes the global liner landscape, Hapag-Lloyd has agreed to acquire ZIM Integrated Shipping Services Ltd. in an all-cash transaction valued at approximately $4.2 billion, the companies announced today.Under the terms of the merger agreement, Hapag-Lloyd will acquire ZIM for $35.00 per share in cash, representing a 58% premium to ZIM’s prior-day closing stock price, a 90% premium to its 90-day VWAP, and a 126% premium to its unaffected share price of $15.50 in August 2025 prior to market speculation.

India has seized three U.S.-sanctioned tanker ships linked to Iran this month and stepped up surveillance in its maritime zone to curb illicit trade, a source with direct knowledge of the matter said on Monday.India aims to prevent its waters from being used for ship-to-ship transfers that obscure the origin of oil cargoes, the source added.The seizures and heightened surveillance follow an improvement in U.S.-India relations. Washington earlier this month announced it will cut import tariffs on Indian goods to 18% from 50%, as New Delhi has agreed to stop Russian oil imports.

Often debated and long-awaited, The White House released its long-anticipated America’s Maritime Action Plan (MAP), a 40+ page blueprint aimed at what it calls a new “Maritime Golden Age” for the United States.The document, developed under Executive Order 14269, lays out a four-pillar strategy to rebuild domestic shipbuilding capacity, expand the U.S.-flag fleet, reform maritime workforce development, and strengthen industrial resilience. For U.S. shipbuilders, vessel owners and maritime suppliers, the plan signals potentially historic investment — paired with significant structural reform.What It Means for U.S.

Great Lakes Dredge & Dock Corporation and Saltchuk Resources, Inc. announced a definitive agreement for Saltchuk to acquire Great Lakes at an aggregate equity value of approximately $1.2 billion and a total transaction value of $1.5 billion.Under the terms of the agreement, which has been unanimously approved by the Board of Directors of both companies, Saltchuk will commence a tender offer to acquire all outstanding shares of the Company for $17.00 per share in cash. The per share purchase price represents a 25% premium to Great Lakes’s 90-day volume-weighted average price as of February 10, 2026, the last trading day prior to the announcement