Carney pitches US on closer ties in autos, aluminum and minerals

Bloomberg News | May 28, 2026

Mark Carney speaking to the Economic Club of New York. Credit: Economic Club of New York | X

Canadian Prime Minister Mark Carney used a speech in New York to make the case to the Trump administration for closer cooperation on aluminum, auto manufacturing and critical minerals.

The trip comes as pressure builds on Carney to show Canada is still engaged with the US on trade. American and Mexican negotiators began formal talks this week on potential changes to the continental trade pact known as the US-Mexico-Canada Agreement, but Canada is not at that table and there is no schedule yet for its own bilateral discussions.

Carney has lately begun pushing a “Fortress North America” message in his public remarks, including in another recent speech which he said Canada is “open to deeper integration” with the US.

“Let’s be absolutely clear, Canada Strong will help make America great again,” Carney told the Economic Club of New York on Thursday, combining slogans both leaders use for their own countries.

“Examples of where that’s true are legion, where we should work together and compete with the world together. And to those ends, we have made specific practical proposals to the US administration.”

It’s a more conciliatory tone compared to earlier this year, when he declared that Canada’s close integration with American supply chains was once a strength but has become a weakness.

On Thursday, Carney said aluminum is one clear example where it makes sense for the longstanding allies to cooperate, given the huge amount of production in Quebec using relatively cheap hydro electricity.

Canadian exports of aluminum to the US “are the energy equivalent of 10 Hoover Dams,” Carney said. “With America’s growing energy needs because of the incredible transformation here, does it make sense to build the gigawatts here needed to replace Canada?”

On autos, he noted that Canada is the biggest customer of American-built cars, and said an integrated North American market is still the best way to compete with the automotive sectors in other regions.

The auto sector is expected to be a difficult element of trade discussions with the US, as Trump imposed tariffs of 25% on Canadian-built cars, with an exemption for the percentage of US-made parts inside the car.

Carney has sought to alleviate this with counter-tariffs on US cars and a remission scheme for companies that build cars in Canada.

More controversially, he’s also slashed tariffs on a limited number of Chinese-made electric vehicles, a change from Canada’s previous policy of fully matching the 100% tariff on Chinese EVs that the US has in place.

Carney defended that move, noting the tariff break for Chinese EVs is initially capped at 49,000 annually, a small portion of the 1.8 million cars sold in Canada each year. He told the New York crowd that over time a broad range of cheaper Chinese cars are expected to come in under that system, “but in a controlled way.”

Meanwhile, Canada’s reserves of potash, nickel, copper and uranium can also be a major economic advantage for the US, Carney said. “Canada can be the most reliable supplier that America needs to put affordable food on the table, strengthen its national defense and meet the exploding demand to power AI.”

Much of Carney’s speech was spent outlining his government’s efforts to grow Canada’s energy exports and rapidly expand its military capabilities.

He ended by urging the US to forge a closer partnership with what he described as “a different Canada, a stronger Canada, a more confident Canada.”

(By Brian Platt)

Aluminum facts - Natural Resources Canada

Aluminum’s US comeback hinges on power, not tariffs, industry advocates say

Amanda Stutt | May 29, 2026 | 

Aluminum production facility. Stock image by ChrisTYCat.

The United States’ push to revive domestic aluminum production could stall unless smelters secure long-term access to industrial-scale electricity, according to policy advocates tracking the sector’s rapid transformation amid tariffs, reshoring efforts and rising global demand.

The global aluminum market is facing increased shortages as the closure of the Strait of Hormuz throttles supply, with spot prices for the metal spiking while exchange inventories slump. Aluminum prices climbed to a four-year high this week, driven by supply concerns and continued geopolitical instability affecting global shipping routes.

California-based environmental advocacy group Industrious Labs, dedicated to decarbonizing heavy industries, has released a new report with data that shows that since tariffs on primary aluminum were raised to 50%, imports — especially from Canada — dropped significantly.

Canada is the biggest foreign supplier of aluminum to the US, accounting for 44% of imports to its southern neighbor last year.

According to the Aluminum Import Monitor in the “unwrought” category as the proxy for primary aluminum In 2024, the US imported 2,745 kt of primary aluminum from Canada. In 2025, it was only 1,950 kt, a 29% decrease since Sec. 232 tariffs on aluminum were increased to 25% in February 2025 and then 50% in June 2025.

“Usual caveat that we believe the tariffs to have been the driving factor, but aren’t the only macroeconomic factors in play, Annie Sartor, senior campaigns director at Industrious Labs told MINING.COM.

Reshoring supply

But while the price surge and trade tensions have reignited interest in expanding US primary aluminum capacity, Sartor warned that electricity — not tariffs — remains the industry’s biggest bottleneck.

“There’s a really unpredictable commodity market right now around aluminum,” Sartor said in an interview this week.

While there are 10 primary aluminum smelters operating in Canada, there are only four operating primary aluminum smelters in the United States, down from over 30 plants in 1980. Alcoa operates smelters in Massena, New York and Warrick, Indiana, while Century Aluminum operates plants in Sebree, Kentucky and in Mt Holly, South Carolina.

Last year, Century said it will invest about $50 million to restart over 50,000 metric tons of idled production a Mt. Holly smelter in South Carolina. This year, Emirates Global Aluminium and Century entered into a joint development agreement to build the first new primary aluminum production plant in the United States since 1980 in Oklahoma, an emerging refinery hub.

But Sartor points out that building an aluminum smelter and bringing it online takes about five years.

“It would be great if you could just turn on an aluminum smelter in 30 days and start making metal. But the industry operates on much longer timelines,” she said.

Both the Biden and Trump administrations have pursued policies aimed at rebuilding US aluminum production after decades of decline.

While the Biden administration relied heavily on grants, loans and Inflation Reduction Act incentives, US president Donald Trump has instead emphasized tariffs as the preferred mechanism for protecting domestic producers.

Industrious Labs asserts that neither approach fully addresses the sector’s central challenge: access to reliable and affordable electricity.

Grid capacity

“Access to industrial-scale electricity — and increasingly industrial-scale clean electricity — is the pain point,” Sartor said.

Primary aluminum smelting is among the world’s most energy-intensive industrial processes. New facilities can require more than 500 megawatts of dedicated power supply a year, equivalent to the electricity consumption of a mid-sized city — once financing and power contracts are secured.

That challenge is becoming more acute as data centres and other large industrial users compete for grid access across North America.

“Aluminum producers are being scooped by data centers and hyperscalers,” Sartor said. “They can simply pay more for the power.”

The issue is already shaping the timeline for new projects, while US import tariffs haven’t been enough to stop the US losing another aluminum smelter.

Century Aluminum’s proposed smelter in Oklahoma — backed by a US Department of Energy grant and developed alongside Emirates Global Aluminium — remains dependent on securing a long-term electricity agreement before construction can begin.

The evolving trade relationship between Canada and the United States is also reshaping aluminum flows.

On Friday, the same day mining giant Rio Tinto (ASX: RIO) began a $1.5 billion expansion of its AP60 low-carbon aluminum smelter in Quebec, it also announced shipments of the metal to the US have now bounced back to levels from before President Trump’s tariff offensive.

Canada has historically supplied large volumes of low-carbon primary aluminum to the US market, leveraging extensive hydropower infrastructure in Quebec and British Columbia.

However, some Canadian producers are now increasingly redirecting shipments toward Europe, where demand for lower-carbon metals has strengthened under the European Union’s Carbon Border Adjustment Mechanism (CBAM).

“The aluminum industry sees itself as a North American market,” Sartor said. “Canada makes a lot of primary aluminum. The United States makes a lot of secondary or recycled aluminum. Together, when we’re working as a single market, that works great.”

The group warned that prolonged trade disruptions could permanently shift supply chains away from the United States.

“As time goes on, the stickiness of these new trade relationships starts to get stickier,” she said, noting that Canadian producers may become increasingly tied to European customers.

Despite the uncertainty, the firm believes 2026 could become a pivotal year for the North American aluminum industry, with additional smelter announcements possible if market conditions remain favorable.

“It’s an old, slow-moving industry operating in a really unpredictable market and political landscape right now,” Sartor said. “But I think this will be a big year for aluminum.”

Rio Tinto’s aluminum exports to US rebound to pre-tariff levels

Bloomberg News | May 29, 2026

Usine smelter in Alma, Quebec. Reference image from Rio Tinto.

One of the world’s largest aluminum producers, Rio Tinto Group, says its shipments of the lightweight metal to the US have bounced back to levels from before President Donald Trump’s tariff offensive.

The White House has hiked the levy on the metal to 50% last year, pushing Rio Tinto to sell more of its Canadian-produced aluminum in the European market. In turn, North America shipments — headed mostly to the US — fell to the mid-60% range. Flows are now back to about 80%, the producer’s aluminum chief said.

“We progressively came back to the pretariff situation — meaning the US represents the vast majority of our sales from Canada today,” Jérôme Pécresse, who heads Rio’s aluminum business, said in an interview.

Canada is the biggest foreign supplier of aluminum to the US, accounting for 44% of imports to its southern neighbor last year. Soaring US prices due to Trump’s tariffs and tight North American supplies have created a windfall for producers like Rio Tinto and Alcoa Corp. About a third of Rio Tinto’s global output of the lightweight metal is from the eastern Canadian province of Quebec, where an abundance of cheap hydroelectric power is an industry draw.

The Iran war has added further pressure on the market for the metal, with producers in Gulf states idling smelters due to damage and the inability to ship materials through the Strait of Hormuz.

“There is probably 2.5 million ton capacity in Middle East, which is offline,” Pécresse said. The crisis, he added, has led to a marginal increase in sales to Europe from Canada, Australia and New Zealand, while demonstrating “the importance for the US to have a nearby source of very competitive low carbon aluminum.”

The so-called US Midwest premium — the amount added to global price benchmarks to deliver the metal to that region — has nearly tripled since early June of last year.

Pécresse said despite the surging premium, demand remains high.

At the same time soaring US electricity costs amid a massive data center buildout have given producers like Rio little incentive to build a new primary aluminum smelter in the US. That’s stymied President Trump’s hopes that tariffs would revive domestic metals production.

“Data centers can probably pay their electricity at two- to three-times the price you need to build a competitive smelter,” Pécresse said. “The reason we’re producing in Canada and Quebec today is because of the competitiveness of hydropower costs.”

While Rio has no plans to build US smelters, last year Emirates Global Aluminum confirmed plans to build the first new aluminum plant in the US since 1980. US producer Century Aluminum Co. joined as a partner in January for the new facility in Oklahoma, with construction expected to start by the end of the year.

Instead, Rio is focusing its North American aluminum efforts in Canada, where the producer started operations at its AP60 smelter expansion in Quebec’s Saguenay—Lac-Saint-Jean region on Friday.

The $1.5 billion expansion will offset the loss of production associated with the idling of older smelting pot rooms nearby. The area includes an alumina refinery, four smelters and six hydroelectric power plants.

(By Jacob Lorinc and Mathieu Dion)

RIO Starts $1.5B AP60 Smelter Expansion in Quebec, Targets End-2026 Completion

RIO Expansion To Boost Aluminum Capacity By 160,000 Tonnes

Aveek Bhowmik
Fri, May 29, 2026 


Commissioning began in March, with all 96 new pots expected to be operational by the end of 2026.


The expansion will add about 160,000 metric tonnes of annual primary aluminum capacity using advanced AP60 technology.


The project supports long-term regional employment and generated over $1 billion in economic activity for Quebec during construction.


Shares of Rio Tinto (RIO) were up in morning trade after the company announced that it has started commissioning its $1.5-billion AP60 smelter expansion at Complexe Arvida in Quebec. This marks a major milestone for the deployment of its state-of-the-art, low-carbon aluminium smelting technology.

At the time of writing, RIO stocks had gained around 1%.

RIO Expansion To Boost Aluminum Capacity By 160,000 Tonnes

The commissioning process is expected to be completed by the end of 2026. Once fully operational, the expansion will add around 160,000 metric tonnes of annual primary aluminum production capacity, bringing total output using AP60 technology to about 220,000 metric tonnes per year.

The project is expected to support around 100 permanent jobs in the region. During peak construction, it created more than 1,500 jobs and generated over $1 billion in economic benefits for Quebec.

Rio Tinto said the expansion marks a new chapter in its long-standing presence in Quebec and will strengthen its ability to supply North American customers with low-carbon aluminum used in transportation, construction, electrical applications and consumer products.

RIO Expects Up To 90% Reduction In Fine Particulate Emissions

Rio Tinto said its AP60 technology is among the most efficient and low-carbon aluminum production technologies available at commercial scale. Powered by hydropower in Canada, the technology produces about one-sixth of the greenhouse gas emissions of the industry average and roughly half the emissions of the older technology used at the nearby Arvida smelter. The company also expects the AP60 expansion to reduce fine particulate matter emissions by up to 90%.

RIO Stock: What Retail Sentiment Says

Retail sentiment on Stocktwits for RIO has been “neutral” on Thursday, but message volume has been “high,” unchanged in the past 24 hours.

The RIO stock has gained over 75% in the past 12 months.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Aveek Bhowmik has no position in any of the stocks mentioned in this article. StockTwits' news team content is for informational purposes only and is not intended as investment advice. For more, see our editorial policy. This article was originally published on StockTwits.

Aluminum facts - Natural Resources Canada

Global aluminum price rally could draw record exports from China

Bloomberg News | May 27, 2026 | 

Stock image.

The rally in the global aluminum market could spur record exports of the metal from China, where elevated prices are capping consumption.

Aluminum on the London Metal Exchange is trading at its steepest premium to Shanghai futures since March 2022, after the war in the Middle East choked supplies from a key producing region and created a deficit on the international market.

Chinese exports rose 15% in April to 598,000 tons, the highest since November 2024. They could climb further to a record of more than 680,000 tons in the coming months, said Zhu Liangmin, an analyst with researcher Beijing Aladdiny Zhongying Business Consulting Co.

Aluminum rods for power grids — exempted from a recent tightening in China’s export rebates — and alloys used in wheels, are seeing particular demand, he said.

Although prices in China have been dragged higher by the LME’s surge, as the largest producer it’s largely immune from the shortage, particularly given a slowing economy and tepid domestic demand.

Many fabricators in the production hub of Henan province are running at full capacity to meet brimming orders for products such as ultra-thin battery foil, according to a local media report. It cited an executive at Henan Mingtai Aluminum Industrial Co., who reported a jump in overseas sales in the second quarter.

LME prices have hit four-year highs in recent days, but one complicating factor is that some of those gains have been driven by fears that Chinese supply could tighten if smelters are forced to cut output to meet the government’s energy use and emissions targets.

 

Aluminum price spike from Mideast war fans costs for US solar industry

Reuters | May 27, 2026 | 

Stock image.

Commercial US solar customers are seeing installation costs spike as the war in Iran chokes supply of aluminum and makes racking systems more expensive, compounding financial pressures on an industry already grappling with elevated silver prices.

Aluminum is vital for solar racking components such as rails, clamps and brackets to mount solar panels.

Damage to Gulf refining facilities and disruptions to shipping via the Strait of Hormuz, a conduit for over 5 million metric tons of aluminum annually, have pushed benchmark aluminum prices on the London Metal Exchange up 15% since late February, while CME’s COMEX aluminum futures contract has gained more than 30%.

“I’m seeing roughly a 20% increase in racking selling price across solar projects,” said Jim Wood, CEO of SEG Solar Inc. “I would expect some marginal projects—particularly those with very tight returns—to fall off.”

The United States imported over 5 million metric tons of aluminum in 2025, according to the US Geological Survey. Canada supplied over 50%, while the UAE and Bahrain accounted for 12% of US aluminum imports, USGS data showed.

However, since most aluminum is priced in reference to the global benchmarks, Gulf supply risks have translated into higher costs for Canadian imports as well.

“The US and Canada operate in a globally integrated market, Canadian producers will adjust their prices to match rising global rates,” said Derek Schnee, senior commercial solar consultant at JK Renewables.

The aluminum price rally also comes against a backdrop of rapid US solar growth, with demand from the AI hyperscaler buildout also rising. The US Energy Information Administration expects developers to add 43.4 gigawatts (GW) of utility-scale solar capacity in 2026, a 60% jump from last year. The mounting equipment expenses could ultimately make some of these projects less profitable, analysts said.

The sector is also navigating tariffs on imported panels currently and Trump administration policies prioritizing fossil fuels over renewables.

Costs to trickle down

Aluminum accounts for about 9% to 10% of total project costs through mounting and structural components, said Linda Zeng, senior power & renewables analyst, BMI, a unit of Fitch Solutions.

“Assuming a 500-watt module, in general, the aluminum frame accounts for $10 per module in 2025 pricing. Aluminum usually accounts for about $0.02 per watt, or $10 per panel, but would increase by 50% to about $0.03 per watt, or $15 after the supply constraint,” said Ben Damiani, chief technology officer at Cherry Street Energy.

“So, for 500 gigawatts, this would represent $5 billion of increased cost,” he added.

One gigawatt can power about 750,000 homes.

Experts said even small per-watt increases in costs can become significant when applied across large volumes of planned solar capacity.

“I expect to see this have a direct cost to the consumer in Q3 and Q4 2026,” JK Renewables’ Schnee said, referring to higher costs being passed through to commercial end-users, including utility scale developers, office buildings, data centers and factories.

(By Anushree Mukherjee; Editing by Arpan Varghese and Devika Syamnath)

 

Petra shutters Finsch mine, cuts jobs as diamond slump bites

Cecilia Jamasmie | May 29, 2026 

Petra Diamond’s Finsch mine in South Africa (Image: Petra Diamonds.)

Petra Diamonds (LON: PDL) is placing its Finsch mine into business rescue and cutting jobs across its South African operations as collapsing diamond prices and a strong rand threaten the miner’s liquidity and future.

The company said on Friday that worsening conditions in the natural diamond market, compounded by Middle East tensions and weaker prices for smaller stones, have forced it to take emergency measures. 

Finsch’s average realized price fell to about $47 per carat in April and May from $56 per carat in the third quarter, while prices at Petra’s flagship Cullinan mine dropped to roughly $81 per carat from $109 per carat. 

Petra said Finsch, which generated 34% of group revenue in fiscal 2025 and primarily produces diamonds of two carats and below, has been hit by what management described as a structural decline in prices for smaller stones.

The company has suspended capital development at Finsch, redirected equipment to support production and launched consultations that could lead to workforce reductions across the group. Petra, which employs more than 4,000 people, did not disclose how many jobs could be affected but said it had begun a consultation process with employees and unions.

“We are faced with an unprecedentedly weak diamond market, due to global macro factors as well as the recent Middle East tensions,” CEO Vivek Gadodia said. “We believe that there is now a structural shift on pricing of smaller sized diamonds and therefore do not foresee a significant price appreciation for the smaller sized diamonds.”

The company also halted production guidance for fiscal 2026 through 2030 pending a revised business plan expected by the end of September.

Industry shift

The restructuring highlights mounting pressure across the diamond sector as slowing Chinese luxury demand and the growing popularity of lab-grown stones weigh on prices. Producers have responded by curtailing operations, reducing inventories and reassessing expansion plans. 

Petra’s decision to place Finsch into business rescue underscores concerns that lower-value diamonds may face a prolonged decline in demand and pricing.

The Cullinan mine remains central to Petra’s future strategy because of its ability to produce rare, high-value Type II diamonds that command premium prices. The company is increasing mining in areas known to host those stones and is testing productivity improvements aimed at boosting recoveries and throughput. 

Liquidity focus

To support the restructuring, Petra secured lender consent to ensure the Finsch business rescue process does not trigger defaults under its senior bank facilities or second-lien notes. 

The company also warned it could breach minimum liquidity requirements later this year, prompting discussions with creditors and a formal bondholder consent process.

Investors reacted sharply to the announcement. Petra shares fell 17% in early afternoon trading to 11p, extending their decline to more than 30% this year. The company’s market capitalization has shrunk to about £42 million ($56 million).

The overhaul will bring leadership changes as well. Joint CEO Operations Juan Kemp will leave the company at the end of May following a mutual separation agreement with the board. Vivek Gadodia will become sole chief executive and join the board as Petra focuses on preserving liquidity and reshaping the business around Cullinan’s higher-value production.

Report: Israel’s Economy and Agricultural Ministers Oppose Zim Acquisition

Opposition is being expressed as the government review's the planned acquisition of Zim (Zim file photo)

Published May 28, 2026 5:47 PM by The Maritime Executive

 

Media reports from Israel report mounting opposition to the approval of the sale of Zim to Hapag-Lloyd. Calcalist, which was the first to report that Hapag had been selected to buy Zim, now reports that key Israeli ministries are warning of the dangers of approving the sale.

Under the terms of the agreement, Hapag would take over the majority of Zim’s current operations and fleet. An Israeli investment firm, Ishay Davidi’s FIMI, would launch a new Zim Israel that would operate a small, regional carrier to meet the requirements of the Golden Share held by the government. Davidi asserts it would be a strong regional carrier able to meet the obligations to Israel and would have relationships with Hapag to maintain global access.

Calcalist reports it has seen an opinion submitted by the Ministry of Economy’s Foreign Trade Administration that, however, questions the new company and its abilities. It writes that the report calls the proposed structure, “a direct risk to maritime traffic, Israel’s economic and strategic interests.”

It highlights that the plan calls for Zim Israel to retain just 12 owned ships, a requirement of the Golden Share, with four additional chartered ships to maintain the regional routes. Zim currently has a fleet, it says, of 99 ships. Under the Golden Share, Zim must also be headed by an Israeli, and it gives the government the right to refuse a change in control of the company.

Calcalist says that the ministry’s written opinion concludes that the transaction “empties the state’s golden share of its content and endangers the national interests it was designed to protect.” It questions the structure of the new company, saying it “lacks a profitable asset base that would allow it to survive economically beyond a few years.” Calcalist writes that the Ministry concluded it could create a crippled company unable to stand independently.

The  Ministry also reportedly cites the investments in Hapag by the sovereign wealth funds of Qatar and Saudi Arabia, countries it notes that do not have diplomatic relations with Israel. It warns that the sovereign funds are not merely passive investors and that the countries use infrastructure and economic holdings to create geopolitical leverage.

Zim is a key part of the Israeli economy and participant in both imports and exports. It controls approximately a quarter (22 percent) of the container shipping market in Israel. 

Calcalist reports the Ministry of Agriculture has also voiced opposition, saying the transaction could threaten Israel’s food security. It notes the critical role of imports of goods, including wheat and fertilizers. It says 85 percent of Israel’s calorie consumption is imported. Zim reportedly controls roughly one-third of maritime food shipping activity.

Two weeks ago, there were reports that the Shipping and Ports Authority also voiced its formal opposition to the transaction. They reportedly called the proposed Zim Israel a “dependent and weakened entity,” saying it would endanger Israel’s national interest in shipping and supply chains.

Calcalist reports the Ministry of Transport is also expected to adopt a similar opinion. The concern is that Israel would lose maritime independence.

The shareholders of Zim have approved the takeover, and management of Zim has begun to resign anticipating the completion of the transaction. However, completion of the deal remains dependent on government and regulatory approval.
 

 

Marcura Husbandry Targets the Vessel OPEX Blind Spot

Marcura Husbandry Reporting

Published May 29, 2026 12:18 PM by The Maritime Executive

[By: Marcura]

For most ship managers, husbandry port calls sit in an uncomfortable gap. They are operationally critical: the crew changes, repairs, bunkering stops and maintenance calls that keep vessels running - yet they are routinely managed through email chains, informal coordination and judgment calls made without reliable data. The costs are real; the visibility is not.

Launching today, Marcura Husbandry is built to close that gap, bringing planning, procurement, execution and benchmarking into a single connected workflow.

Of the roughly 1.3 million port calls recorded globally each year, close to a fifth are classed as husbandry, according to Marcura’s analysis. Despite the significant number of calls that exist specifically to maintain vessels, the process governing them has barely changed in decades.

Masters scope services informally. Agents are appointed based on familiarity rather than contract compliance. Preliminary invoices are approved without benchmark context, and when the final disbursement account arrives higher than expected, which it routinely does, the cause is rarely identified and almost never recovered.

Janani Yagnamurthy, SVP, Product, Marcura, said: "Marcura has spent 25 years at the centre of port spend management, processing disbursement accounts and building the data that underpins how the industry understands port costs. That depth of proprietary data, combined with the expertise we have built internally, gives us unmatched insight that helps drive value. Marcura Husbandry brings this capability into the full vessel management lifecycle, and we believe it marks a fundamental shift in how ship managers approach non-commercial port call costs."

Marcura Husbandry brings cost intelligence into the workflow before any agent is appointed. The Estimator module draws on historical data, port profiles and vessel characteristics to set an expected husbandry cost, so teams can compare ports and budgets before procurement starts. Where contracted rates exist, they surface automatically at approval. Where they do not, a structured digital RFQ brings every agent quote into a standardised format and shows an accurate market benchmark alongside each one.

Once an agent is appointed, the PDA is screened against benchmark rates, contracted rates and historical spend before approval. The FDA gets the same check when it arrives. Every call feeds vessel and voyage spend analytics, PDA-to-FDA variance reporting and updated market benchmarks, giving teams the evidence to negotiate, renew contracts and report with confidence.

Marcura Husbandry is available now. Find more information and book a demo here.

The products and services herein described in this press release are not endorsed by The Maritime Executive.

 

GT Wings New Performance Assessment Tool for Jet Sail Wind Propulsion

MV Vectis Progress with AirWing - credit: GT Wings

Published May 29, 2026 2:44 PM by The Maritime Executive

[By: GT WIngs]

GT Wings has introduced a holistic ship performance assessment tool to support early-stage evaluation of its AirWing™ wind-assisted propulsion system. The tool, developed by independent wind assist experts Blue Wasp Marine and based on its proprietary Pelican Suite™ web-based platform, will enable GT Wings to develop and submit reliable and structured indications of potential fuel, emissions, and regulatory savings.

RINA’s review and verification confirm that the modelling methodology and performance assessment framework of the Pelican Suite™ tool are aligned with recognised industry standards and guidelines. This Approval in Principle provides confidence that the approach is suitable for early-stage evaluation of wind-assisted propulsion solutions, offering shipowners a reliable basis for preliminary technical and commercial assessments.

Strengthening early-stage performance assessment

GT Wings has developed AirWing™, a Jet Sail wind propulsion system using controlled suction and blowing to achieve high aerodynamic performance with a minimal deck footprint. As wind-assisted propulsion adoption accelerates, shipowners are increasingly seeking reliable early-stage insights to inform both technical and commercial decisions.

GT Wings’ Jet Sail system has already been installed onboard Carisbrooke Shipping’s MV Vectis Progress, with additional orders from Grieg Maritime Group, and the company has completed more than 80 early-stage performance assessments to date. This new tool builds on that experience, enabling more consistent and transparent initial evaluations.

Faster, more robust early-stage insight

The assessment tool enables rapid, route-based simulations to estimate potential fuel, emissions and regulatory savings across different vessel types, operating profiles, and AirWing™ configurations.

Using a four-degrees-of-freedom (4DOF) modelling approach, the tool provides a consistent, physics-based indication of performance. This allows shipowners to compare options and build an early business case with greater confidence.

Independent modelling approved by RINA

Blue Wasp Marine provides physics-based maritime performance modelling and simulation tools that are applied across a range of wind-assisted propulsion technologies. Its Pelican Suite™ software enables consistent, technology-neutral assessment of aerodynamic and hydrodynamic performance.

To further strengthen confidence in the methodology, the modelling approach and outputs were verified in line with industry practices by RINA, supporting alignment with recognised standards such as MEPC circ.896 and the ITTC Guidelines for Wind Powered Ships (2024), providing an additional layer of assurance for shipowners.

By combining GT Wings’ project experience with independent modelling and a clear verification pathway, the tool provides a neutral and credible view of performance potential.

Jonny Gambell, Sales and Strategy Director at GT Wings, said: “Our Jet Sail technology represents a fundamentally new approach to wind propulsion. To best serve our customers’ interests, it’s vital that early performance assessments are credible and transparent. This tool gives shipowners a trustworthy first view of potential savings, helping them to understand the return on investment and the reduced emissions that our technology brings. We are fortunate to be working with Blue Wasp, who’s unrivalled simulation expertise has helped us to develop this state-of-the-art performance tool.”

Giovanni Bordogna, CEO and R&D Lead of Blue Wasp, added: “We are proud to contribute to the development and credibility of the Wind Assist industry through state-of-the-art performance prediction tools. This approval from RINA for our Pelican Suite™ software is an important recognition of our work and confirms that we are progressing in the right direction.”

Patrizio Di Francesco, Special Projects North Europe Business Development Manager at RINA, commented: “As a member of the International Windship Association (IWSA), RINA is pleased to collaborate with GT Wings in addressing the challenges related to wind propulsion performance prediction, leveraging its newly developed Rules for Wind Assisted Propulsion Systems (WAPS) and granting an Approval in Principle to support a robust and reliable assessment framework.”

The products and services herein described in this press release are not endorsed by The Maritime Executive.

 

Jones Act Supporters Launch Campaign to End White House's Waiver

USN file image

Published May 28, 2026 10:33 PM by The Maritime Executive

The Trump administration has waived the Jones Act for petroleum and fertilizer cargoes from March through mid-August, covering all U.S. regions and all ports. The waiver is unprecedented in length and scope, and U.S. domestic shipping operators are pushing back hard. This week, the American Maritime Partnership - the voice of the domestic maritime industry - launched a national advertising campaign aimed at convincing the White House to bring the waiver to an end.

“Clearly, President Trump has been led to believe that waiving the Jones Act is an effective way to lower gas prices, when we all see that prices have not gone down with the waiver. What the waiver does is put America last by allowing foreign operators and mariners to take American business and jobs,” said Jennifer Carpenter, President of the American Maritime Partnership. 

Through May 21, about 60 waivers have been issued for foreign-flag vessels, according to RBN Energy. The largest share are for fuel deliveries from the Texas coast to California, a perennially expensive market for gasoline. California has lost substantial refinery capacity due to closures in recent years, and is heavily import-dependent; with the new access to foreign tanker tonnage, it has taken in more than three million barrels of petroleum products from Texas refiners since the start of the waiver period. Crude oil from the Gulf - including Strategic Petroleum Reserve barrels out of Louisiana - has also been shipped to refineries in California, making up for lost deliveries from overseas. California isn't the only beneficiary: Smaller numbers of foreign-flag voyages have occurred from the Texas coast to customers in Florida, Pennsylvania and Puerto Rico, RBN found, and a handful of cargoes have made it all the way north to Alaska.

But if the waiver has the power to bring down the pump price of gasoline, it has yet to demonstrate it in a visible way in California, where the largest share of waiver voyages have ended up. Average gas prices reached $6 per gallon in the state in early May, and have remained at that level ever since. Domestic crude oil prices have fallen by about 20 percent over the same period, from about $105 to about $87 per barrel. 

Commodity research firm Argus says that the savings from shipping on foreign-flag tonnage amount to about six cents per gallon, not enough to materially affect the price at the pump. The pro-Jones Act Center for Maritime Strategy puts the number even lower. Meanwhile, according to AMP, the waiver is having significant negative effects on the future of the Jones Act fleet: the group says that it has prompted one investment platform to put a halt to a planned $1 billion capital raise for American domestic shipping, putting at risk another $2.6 billion in shipyard contracts. 

"The waiver] directly undermines the very policies that President Trump campaigned on and has championed – buy American, hire American, and strengthen our national might. The President should trust his instincts, follow his outlined policies and put America and our national security first," said AMP's Jennifer Carpenter in a statement. 

The true test may be still to come. In the initial phase of the waiver period, international product tanker availability was tight, limiting domestic-voyage arbitrage opportunities due to chartering costs. Day rates on the U.S. Gulf MR index have since come down significantly, reducing the financial barrier to trading domestically with foreign-flag tonnage. 

Court Dismisses Lawsuit Against Porsche Over Felicity Ace Fire

Judge ruled that the shipowner hadn't proven that an electric sports car started the fire

A 2022 Porsche Taycan electric car (Press handout photo courtesy Porsche)

Published May 28, 2026 11:40 PM by The Maritime Executive

A lawsuit against carmaker Porsche over the fire aboard the car carrier Felicity Ace has been resolved in favor of the famous German auto brand. 

Felicity Ace departed the ro/ro port of Emden, Germany on February 10, 2022 with a load of 4,000 cars on board, all built by the Volkswagen Group. The consignment included high-value autos from VW's luxury Audi, Porsche, Bentley and Lamborghini brands. Some of these vehicles were all-electric or hybrid-electric, fitted with lithium-ion batteries. 

On February 16, a fire broke out on a vehicle deck while the ship was about 200 nautical miles off the coast of the Azores. The crew were not able to control the blaze, and they abandoned ship successfully. All 22 were rescued by the Portuguese Navy, and no injuries were reported. The ship, however, was badly damaged: burn patterns on the exterior suggested complete combustion in most cargo holds and spaces above the waterline. The vessel burned for about one week, and when it was finally out, salvors boarded to rig up a tow. The salvage team began to tow the hulk to a port of refuge, but while under way, the Felicity Ace took on a severe list; the wreck suddenly sank on the morning of March 1 - taking with it hundreds of millions of dollars in burnt cars. 

The Felicity Ace after the fire, February 2022 (Portuguese Navy)

After the sinking, shipowner MOL and its insurers filed two lawsuits against Porsche in two different German regional courts, one in Braunschweig and another in Stuttgart. The plaintiffs alleged that the batteries inside of a new Porsche Taycan all-electric sports car was responsible for starting the fire on the vehicle deck. More than 100 high end Taycans were on board; depending on options, these vehicles were each worth about $80-180,000 each (MSRP) at the time of shipment. 

The plaintiffs contended that the risks of the battery technology were new and little-known at the time, and that the automaker should have given more warning. VW countered that the fire could have started a different way, and that the vessel's firefighting procedures and systems were at fault for the spread of the blaze. Initial attempts at mediation were not successful, and both suits proceeded to trial. 

On Wednesday, the Stuttgart court concluded that it had not been given conclusive evidence that a Taycan had started the fire, and ruled in Porsche's favor. The ruling is still subject to possible appeal. 

The Braunschweig trial is still under way.