MONOPOLY CAPITALI$M

International Seaways Expands VLCC Fleet Through Combination with Bruton

By The Maritime Executive 2026-10-17 

[By International Seaways]

International Seaways, Inc. (NYSE: INSW), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products, today announced the execution of agreements to acquire Bruton Limited (OSL: BRUT), in a series of transactions that values Bruton at approximately $370 million.

The transaction combines Bruton’s 4 VLCC vessels, including newbuildings, with Seaways diversified fleet of approximately 70 vessels across both the crude and product segments.

Seaways has entered into exchange agreements with Bruton shareholders holding approximately 50.5% of Bruton’s outstanding common shares, to immediately acquire those shares in exchange for 0.0519 INSW shares for each Bruton share held (the “First-Step Exchange”). The First-Step Exchange transactions are expected to settle on or about October 20, 2026.

Seaways has also entered into a definitive transaction agreement with Bruton, pursuant to which the Company will acquire all of the Bruton shares that remain outstanding following the completion of the First-Step Exchange in a cash and stock merger (the “Merger” and, together with the First-Step Exchange, the “Transactions”). Seaways expects to issue approximately 3.12 million INSW shares in the Transactions, representing approximately 96% of the aggregate consideration payable in the Transactions, with the remainder settled in cash.

Bruton will hold a special meeting of shareholders on or about October 30, 2026, to vote on the proposed Merger. The Bruton shareholders party to the First-Step Exchange have agreed to vote their shares in favor of the Merger. The Merger is expected to close promptly following the Bruton special meeting of shareholders, subject to the satisfaction of other customary closing conditions. Additional details with respect to the structure of the Transactions will be included in the Company’s current report on Form 8-K, expected to be filed today with the SEC.

Lois K. Zabrocky, International Seaways President and CEO commented, “We're excited about the opportunity to expand and modernize our fleet through this accretive transaction with Bruton. The transaction underscores our disciplined approach to growth. Following completion of the transaction, Seaways will remain well-positioned to continue executing on our growth strategy, generating attractive returns and creating long-term value for our shareholders.”

Preliminary Third Quarter 2026 Results

The Company also today announced selected preliminary financial results for the third quarter of 2026.

Based on information currently available, the Company expects:

•    Shipping Revenues and Other Operating Revenues of approximately $480-$490 million
•    Net income of approximately $340-$350 million, which includes a gain on the sale of a 2012-built Suezmax of approximately $50 million
•    Total Liquidity was approximately $965 million as of September 30, 2026, including cash (and short-term investments) of $455 million and $510 million of undrawn revolving credit capacity.

Results for the third quarter were driven primarily by strong market conditions that resulted in blended spot earnings of approximately $68,000 per day compared to $79,000 per day in the second quarter of 2026 and $29,000 per day in the third quarter of 2025. During the first three weeks of the fourth quarter, the Company has fixed blended spot earnings of approximately $180,000 per day on about 37% of expected fourth quarter revenue days. Blended spot earnings exclude revenues associated with profit-share components of the Company’s time charters.

These preliminary results are based on management's initial review of operations for the quarter and are subject to completion of the Company's financial closing procedures. Actual results may differ from these preliminary estimates and will be reported in the Company's full earnings release on November 5, 2026.

Advisors

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

 

First Electric Ferry in Estonia to Feature Steerprop Propulsors

Steerprop's advanced propulsion technology will power Estonia's first fully electric passenger ferry.

By The Maritime Executive 2026-10-16 

[By Steerprop]

Finnish marine propulsion specialist Steerprop will supply the latest version of its well-established contra-rotating propeller (CRP) technology to a fully electric ferry being built by Polish shipyard CRIST SA for the Estonian State Fleet.

The vessel, described as Estonia’s first fully electric passenger ferry, will be propelled by two Steerprop SP 25 CRP units featuring permanent magnet motor drives. The ferry will also be the first to feature next generation of CRP technology, which further improves mechanical efficiency while delivering the excellent thrust in ice and open water for which the long-established CRP range is known.

Steerprop’s propulsion was selected for the project due to its ability to provide high thrust in ice, wind and open water conditions even with tight constraints on propeller diameter. The unique configuration of the push and pull propellers on Steerprop CRP’s single shaftline mean that it can achieve higher thrust and efficiency than similarly sized single-propeller units – or similar thrust using less power, helping to reduce installed power, energy use and emissions.

Steerprop Cruise & Ferry Segment Director Markku Miinala said: “The latest Steerprop CRP development has resulted in a propulsor with unique efficiency and thrust performance, and one that offers an even greater performance boost for vessels operating in ice conditions. Steerprop is pleased to widen its installed base in Estonia, where we already operate four double-ended ferries with Steerprop CRP propulsors on the Saaremaa and Hiiumaa routes.”

The next generation of CRP introduces pressure lubrication as standard for smaller CRP applications. By removing immersion lubrication, mechanical losses are reduced, enabling an increase of around 3.5 percentage points in mechanical efficiency alongside superior fuel economy and performance. As with all CRP units, the next-generation propulsors are hydrodynamically optimized and can be deployed as part of diesel, hybrid or pure-electric drivechains.

The 95 metre-long ferry designed by LMG Marin will use renewable shore power, with electricity stored in a 3MWh battery system, alongside auxiliary biodiesel generators for severe weather and emergency operations. She will be classed to 1B Ice Class, enabling operation in ice of up to 60cm thick.

Steerprop's propulsion equipment is scheduled for delivery in late 2027, with the vessel expected to enter operation in late 2028. The total value of the design and construction contract is EUR 49.93 million. The project is co-funded by the European Union Modernisation Fund (EUR 28 million) and Estonia’s CO? quota trading mechanisms.

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

 

RoRo to Transport Airbus Components is Fitted with Six Rotor Sails

The RoRo being built to transport Airbus components completed the installation of its six wind rotors (LD Armateurs)

By The Maritime Executive 2026-10-15 

The Spirit of Toulouse, the first of three pioneering RoRos with wind-assisted propulsion, marked a milestone in its construction with the installation of its six wind rotors. The vessel, which is being built in China, becomes not only the largest RoRo vessel to be equipped with wind-assisted propulsion, but also has the largest number of mechanical sails fitted on a single vessel.

"Spirit of Toulouse is much more than a new vessel. It is a tangible demonstration of how the maritime industry can accelerate its transition by combining innovation, operational expertise, and strong industrial partnerships,” said Samira Draoua, CEO of LD Armateurs, the owners of the vessels.

The vessel, which is 19,000 gross tons, is being fitted with six Norsepower Rotor Sails. The six rotor sails each measure 35 meters by 5 meters (approximately 115 feet by 16.4 feet), and they are being paired with two dual-fuel main engines and two dual-fuel generator sets, capable of running on e-methanol, bio-methanol, or marine diesel oil. LD Armateurs, which is building the vessel for charter to Airbus, expects each vessel to deliver a 70 percent decrease in CO2 emissions, on an annual basis, compared with the two vessels it currently operates on the Atlantic for Airbus.

Each of the ships has an overall length of approximately 168 meters (551 feet) and will be 5,300 dwt. They will have a service speed of 14 knots. The ships will be registered in France.

 

Spirit of Toulouse is the largest RoRo with wind-assisted propulsion and has the largest number of mechanical sails on a vessel (LD Armateurs)

 

“Completing installation of six Norsepower Rotor Sails on Spirit of Toulouse is a significant milestone for wind propulsion in the RoRo segment,” said Heikki Pöntynen, CEO of Norsepower. Wind-assisted propulsion continues to gain momentum with adoption ranging from tankers to bulkers and more RoRos and cruise ships.

The companies note that fitting six rotors to a single hull is a demanding undertaking. Commissioning activities commenced immediately following the installation of the first rotor sail. With all sails installed, the rotor sails will undergo comprehensive testing during the vessel's upcoming sea trials to confirm their performance and integration with onboard systems. Further optimization and fine-tuning will continue during the maiden voyage from China to France.

The project for these pioneering ships began in 2024 with construction at the Wuchang Shipyard, a division of CSSC Group in China. The hull for the Spirit of Toulouse was launched in early 2026, and in September it began the journey along the Yangtze to Shanghai. Outfitting and installation of the rotors are being completed at the yard in Shanghai.

The Spirit of Toulouse will be joined by sister ships Spirit of Mobile and Spirit of Mirabel, which are also under construction in China. Operating under charter to Airbus, they will transport large aircraft sub-assemblies between Airbus’s sites in Europe and North America.

 

Canaveral Port Authority Donates Firefighting Equipment

Officials from Canaveral Port Authority and Canaveral Fire Rescue Present a ceremonial key to Eastern Florida State College for the donation of Truck 52 to the college’s fire academy. (Credit: Canaveral Port Authority)

By The Maritime Executive 2026-10-17 

[By Canaveral Port Authority]

The Canaveral Port Authority today officially turned over the ceremonial keys to “Truck 52,” an aerial fire apparatus formerly operated by Canaveral Fire Rescue, to Eastern Florida State College (EFSC) for use in the school’s Fire Training Center. The donation was formally recognized during a ceremony today at Port Canaveral, where Port Canaveral CEO Capt. John Murray and Canaveral Fire Rescue Deputy Chief Jeff Crawley presented a ceremonial key to Eastern Florida State College Vice President External Affairs Jack Parker. 

“We are proud to donate this valuable equipment to support Eastern Florida’s education and training program,” said Capt. John Murray, Port Canaveral CEO. “Truck 52 served our Port community well, and it will continue to be of service in preparing the next generation of firefighters and first responders for their vitally important careers.”

The apparatus formerly known as, “Canaveral Fire Rescue Truck 52” is a 2012 model year 75-foot Pierce Velocity ladder truck, which was purchased by the Canaveral Port Authority and operated by Canaveral Fire Rescue. During its time in service, the truck and its complement of Canaveral Fire Rescue firefighters has responded to nearly 7,000 calls throughout Brevard County because of Port Canaveral’s mutual aid and automatic aid agreements with 26 communities and federal government installations including Kennedy Space Center, NASA, Cape Canaveral Space Force Station, Patrick Space Force Base, and U.S. Navy’s Naval Ordnance Test Unit (NOTU).

"Although this truck's assignment is changing, its mission remains the same: serving others. We are proud to be part of the handover of this apparatus so it can continue making a difference and helping firefighters answer the call when their community needs them most,” said Chris Quinn, Fire Chief, Canaveral Fire Rescue.

The donated firetruck will be incorporated into EFSC’s firefighter and emergency response training programs, providing students and trainees with valuable hands-on training experience required to become a state certified firefighter in Florida. In addition to offering a Fire Science associate’s degree, the college operates a fire training center and Fire Fighter I/II Certificate Program and Continuing Education Fire Science courses to advance firefighter professional skills.  

“Eastern Florida State College is grateful to the Canaveral Port Authority and Canaveral Fire Rescue for the donation of Truck 52 which will help our students gain valuable hands-on experience for their future careers,” said Dr. James Richey, President of EFSC.  “Support from partners like the Canaveral Port Authority and Canaveral Fire Rescue are critical to our ongoing efforts to train and educate the next generation of firefighters and first responders.”

The Pierce Velocity ladder truck is equipped with a 2,000 GPM (gallon-per-minute) pumping capacity with a 400-gallon tank and can carry up to 1,000 feet of five-inch supply hose. Built in Appleton, Wisc., the truck’s 75-foot aerial ladder provides nearly 68 feet of horizontal reach, giving instructors and students the ability to conduct a wide range of practical training evolutions involving elevated rescue, fire suppression and aerial operations.

Port Canaveral has donated firefighting assets in previous years, including a Pierce Lance fire truck and a fire pumper to the Monticello Volunteer Fire Department in Jefferson County, Fla.

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

 

Unmanned Vessel Deploys With Carrier Strike Group for the First Time

By The Maritime Executive 2026-10-15 

The U.S. Navy has confirmed that a midsize unmanned surface vessel has sailed with the USS Theodore Roosevelt Carrier Strike Group, currently under way in the Pacific. It is the first time that a deployed CSG has been accompanied by an unmanned vessel too large to stow on a ship. 

Roosevelt got under way from San Diego on October 8, but preparations for integrating the USV into its escort force have been going on for some time. In September, the service released imagery of the destroyer USS Chafee practicing an astern refueling operation with the prototype USV Seahawk.

Seahawk predates the drone-vessel designs now in production for the Navy's MUSV program. The prototype dates back to 2017, when the Navy awarded Leidos a contract to upgrade its existing Sea Hunter design using lessons learned from early trials. Leidos kept the trimaran hull form, but re-engineered the vessel's systems for minimal human intervention at sea, hoping to achieve truly unmanned, self-navigating operations. 

“We didn’t just put an autonomous navigation system onto an existing ship,” said defense executive Dan Brintzinghoffer, Leidos' Vice President for Maritime Solutions at the time of the USV's delivery(now with Austal USA). “Every mechanical and electrical system on Seahawk has unique configurations designed to run for months at a time without maintenance or a crew.”

As delivered in 2021, Seahawk was an unarmed vessel, intended primarily to carry surveillance equipment and a sonar system for tracking submarines. Details of its configuration for the Roosevelt Carrier Strike Group deployment were not released; Acting Secretary of the Navy Hung Cao suggested that it would be a useful addition. 

"This is a first carrier strike group to ever deploy with a large-size unmanned surface vessel, and this is a force multiplier. Imagine having more guns out there," Cao said at a U.S. Army conference this week.

Cao also noted that the U.S. Navy had used unmanned underwater vehicles (UUVs) to demine the Strait of Hormuz, without exposing its mine countermeasures ships and crews to the risk of Iranian attack. In the early months of the conflict, experienced analysts suggested that the mines could not be removed without first neutralizing Iran's many threats to surface vessels. Cao confirmed that the demining would have been impossible in a contested area without using underwater drones. 

 

War in Yemen Now Impacting the Whole Gulf Region

EUNAVFOR Aspides continues its close protection efforts (Aspides)

By The Maritime Executive 2026-10-16 

The Houthis have intensified their attacks on the forces of Yemen’s Internationally Recognized Government (IRG) over the last week but have also widened their campaign by mounting very damaging attacks on infrastructure in Saudi Arabia.

Targeting of civilian airports in Saudi Arabia, which has led to the temporary closure of Riyadh International Airport, places further pressure on transport routes into and out of Saudi Arabia, which have also been exacerbated by continued drone and missile attacks on oil pipelines and port infrastructure on Saudi Arabia’s west coast. These attacks threaten wider commercial interests than just those of Saudi Arabia itself, which has prompted offers of additional support from Saudi allies – but not yet of offensive capability, which would be sufficient to alter the course of the war in Yemen itself.

Within Yemen, the most intense fighting has been concentrated around Taiz, held by the IRG and now under effective siege, but which so far has resisted Houthi incursions into the city itself. A major element of the Houthi campaign has been a persistent psychological warfare attack. But inhabitants of Taiz are resistant, having no tribal or religious connections to the Houthis, who are seen despite the propaganda as alien invaders.

 

Houthi and Yemeni Government positions in SW Yemen as reflected in reporting on October 16.
(Google Earth/CJRC)

 

On the south-west coast, now that the situation has somewhat settled, it appears that the IRG counterattack to recapture ground lost earlier in the month to the Houthis was not as successful as advertised earlier. The IRG appears to have made a tenuous repossession of the Ras Menhali peninsula overlooking the Bab el-Mandeb strait at its narrowest, and probably has reclaimed Perim Island as well. But the IRG has not as yet recovered the coastal towns of Dhubab or Mocha, let alone gotten anywhere close to Hodeida. 

The Houthis have also retained their capture of the Hanish Islands, which gives them an enhanced ability to threaten shipping in the lower Red Sea using both drones and speedboats – a capability which they are not exploiting for the moment, but will likely do so once they have consolidated any gains they are making in the current war. They also retain the capability to import materials through their ports of Hodeida, Ras Isa and Salif.

 

Traffic through the Bab el-Mandeb on October 16 looks thinner than at the same time last week (VesselFinder)

The unsettled situation in the southern Red Sea has seen forces that hitherto suppressed the threat of piracy withdrawing from the area. Hitherto, the coastal patrol forces of the National Resistance Forces, operating from Mocha in particular, made regular seizures of material being imported by the Houthis, making circuitous use of routes from Iran and smuggler networks operating from both sides of the southern Red Sea. The same smugglers come from the community, which inclines towards piracy when times are hard, and security forces are not active. Some elements of the National Resistance Force coastal units, which used to patrol these waters, survived and are now being incorporated into the Yemeni Coast Guard based in Aden. They have lost a lot of their radar and surveillance equipment when Mocha was captured by the Houthis, but at least the remnants are now consolidating within the single Yemeni Coast Guard structure rather than being split between two separate chains of command.

The European Union’s Operations Aspides and Atalanta, the only naval coalitions currently providing support to merchantmen transiting the Bab el-Mandeb, are on alert for an increase in piracy, and recently deterred an attempted pirate seizure of St Vincent & Grenadines-flagged cargo ship MV Glamor (IMO 9177961). The Spanish flagship of the Aspides force is the Santa María Class frigate ESPS Numancia (F83), with the flotilla recently having included three FREMM frigates, the Italian Navy’s ITS Carlo Bergamini (F590) and ITS Luigi Rizzo (F595), and the French Navy’s FS Languedoc (D653). Support was provided by a maritime surveillance aircraft. On October 1, the Languedoc engaged and destroyed a Houthi drone in the Bab el-Mandeb using its OTO Melara 76 mm gun. The drone had been threatening the CMA CGM container ship CMA CGM Champs Elysees (IMO 9839131) and another containership belonging to MSC.

 

Australia Investigates Hidden Camera Found in Women’s Bathroom on Navy Ship

HMAS Leeuwin is a hydrographic survey vessel for the Australian Defence Force (ADF)

By The Maritime Executive 2026-10-16 

The Australian Defence Force is reporting that a person of interest has been identified and is cooperating with its investigation into a hidden camera that was found aboard one of its vessels. The camera located in a women’s bathroom on HMAS Leeuwin has turned into a national embarrassment and is being treated as an act of sexual violence.

The video recording device was discovered aboard HMAS Leeuwin on October 11 while the ship was at its berth in Cairns, Queensland. The device had been planted in the shower facilities of female sailors.

The Australian Defence Force, which described the discovery of the device as the “most despicable betrayal of trust,” said the ship’s program had been altered to enable a rapid and rigorous investigation by the Joint Military Police Unit working with civilian authorities. The Warrant Officer of the Navy was also in Cairns to support the ship’s company.

Commissioned in 2000, the 71-meter HMAS Leeuwin is the lead ship of the Leeuwin-class of hydrographic survey vessels. The ship, which can accommodate 46 crew, is mainly deployed for hydrographic duties, although at times she’s called to carry out border protection operations.

Together with her sister ship Melville, Leeuwin is equipped with multi-beam echo sounders and the ability to support a helicopter, and carry three nine-meter survey motor boats, all for survey operations. The surveys are designed to make the passage of vessels safer and help to protect Australia's ocean environment.  

Vice Admiral Matt Buckley, the Chief of the Navy, said, “The location of the recording device is the most despicable betrayal of trust and is fundamentally misaligned with the Navy’s values.”

“You have my assurance and commitment that we will tackle this act of sexual violence with all of our energy. Any perpetrator will be held to account. Further, you should all know that eradicating sexual violence in our workplace is fundamental to the fighting efficiency of our Navy,” he said.

The Navy reports it is also undertaking an audit of all its bathrooms across the fleet. 

 

South Korean Yard Completes Repairs for USNS Amelia Earhart

USNS Amelia Earhart seen arriving in Korean in January 2026 (HJ Heavy Industries)

By The Maritime Executive 2026-10-16 

South Korea’s HJ Heavy Industries completed a larger-than-planned overhaul and repair project for the Military Sealift Command supply ship USNS Amelia Earhart and redelivered the ship to the U.S. Navy. The project is in keeping with the U.S. Navy’s “Indo-Pacific Maintenance Capability Enhancement” policy, which is designed to undertake maintenance and overhaul work in the region to reduce the vessel’s time away from service and out of the region, while also reducing the amount of work on the already stretched shipyard facilities in the United States.

While the U.S. had already sent several other ships from the Lewis and Clark dry cargo ship class for maintenance in South Korea, this project was the first time that a mid-sized Korean yard had won and successfully undertaken one of these projects. HJ Heavy Industries had assembled a team with other suppliers for the project, enabling it to compete with Korea’s largest shipbuilders. In the past, Hanwha Ocean and HD Hyundai had won the first overhaul assignments from the United States.

USS Amelia Earhart is a 40,000-ton logistics support ship. It was placed in service in 2008. The ship measures 210 meters (689 feet) in length. It supplies up to 6,000 tons of ammunition, food, and cargo, as well as 2,400 tons of fuel to support the ships of the U.S. Navy.

The contract for the vessel’s overhaul was awarded in December 2025, and it arrived at the Yeongdo Shipyard in Busan, South Korea, in January. It originally called for a three-month overhaul period.

HJ Heavy Industries reports it undertook an inspection as part of the planned maintenance of the hull, major systems, and equipment. Numerous “defects” that were not included in the original contract, however, were identified, and HJ Heavy Industries also proposed improvements to the plan. The U.S. Navy accepted the proposal, and as a result, the scope was extended by six months. 

The handover was completed on October 14. The U.S. Navy provided a letter of appreciation to the yard and commended it for the work completed on the ship.

HJ Heavy Industries looks to build on the success of the first project. It is targeting follow-up orders. 

Since starting the policy of forward deployment repairs, the Navy and Military Sealift Command have conducted overhauls in South Korea, India, and Japan. They have also sent warships for maintenance in Japan instead of the normal policy of rotating them back to the United States. The U.S. recently also placed one of its guided-missile destroyers, USS Arleigh Burke, in a dry dock in Spain for maintenance, the first time the Forward Deployed European fleet had used a commercial shipyard for regular maintenance work.

 

IEA: Russian Diesel Deal Won't Change Tight Global Energy Market

A refinery in Moscow burns after a Ukrainian drone strike, June 2026 (Russian social media)

By The Maritime Executive 2026-10-15 

The tight global market for diesel fuel is likely to extend well into 2027, according to the latest analysis from the International Energy Agency, meaning that record prices may be here to stay through at least the first quarter of 2027 - and maybe longer, depending upon the conflicts in the Mideast and Ukraine. 

The disruption at the Strait of Hormuz, attacks on refineries in the GCC states, and Ukraine's concerted campaign of strikes on Russian energy infrastructure have all put downward pressure on diesel export volume. Increased exports from the U.S. Gulf Coast and (recently) China have helped offset the drop - but overall, the net global supply of diesel and gasoil has fallen by about 1.7 million barrels per day, according to the IEA. Demand for diesel is also down year-over-year, but only by about 0.75 million bpd in the third quarter.

That picture could worsen in coming months because of deteriorating economics for refiners outside of the United States. The price of oil and the cost of tanker charters are both very high, and the net cost for making and shipping diesel is approaching unfavorable levels for some refiners in Asia and Europe. IEA forecasts that if their margins drop further, some of these overseas refiners could decide to make run cuts as a business decision, further tightening the market for middle distillates.

The supply-demand mismatch means high prices. Diesel hit the $220 per barrel mark in the U.S. and in Europe last month, setting records, and average diesel retail prices in the American market are still about 75 percent more than they were this time last year. That added cost trickles down into inflation across all sectors, since diesel is the mobile energy supply of choice for trucking, construction, industry and agriculture. 

The shortfall in refinery output also requires suppliers to draw down on inventory. Global stocks of gasoil are down by five percent since before the conflict, according to IEA. 

Russian refineries are too damaged by previous Ukrainian strikes to make up the gap in the near term, IEA found, despite the White House's announced intention to bring more Russian diesel fuel to market. 

"The gasoil market balance will remain tight well into 2027 and is dependent on a recovery of product supply from the Middle East. Failing this, further demand reductions and the heavy economic costs these will entail may be needed to balance markets," IEA concluded. 

 

Arrests in Norway Reveal Fraud and Bribery for NATO Ship Supply Contracts

NATO Mine Counter Measure Group 1 (SNMG1) vessels, HNLMS Makkum (M857) LVNS Rusins (M08) FGS Homburg (M1069) and LNS Kursis (M54) berthed in Bergen (USN)

By The Maritime Executive 2026-10-15 

A wide-sweeping probe reaching from Norway to Germany and Romania has revealed a scheme of fraud and bribery for contracts to supply NATO ships. The first arrests were made on Wednesday in Bergen, Norway, with officials saying the scheme ran for at least four years and that they estimate the total losses are more than €1 million (US$1.12 million).

The investigation began in April 2025 and was coordinated by Eurojust, the European Union Agency for Criminal Justice Cooperation, along with anti-corruption and prosecutor’s offices in Norway, Germany, Romania, and the United Kingdom. Eurojust reports the cross-border investigation is into alleged fraudulent invoices submitted to the NATO Support and Procurement Agency (NSPA). The agency handles logistical support for military equipment and services, including the husbandry services that provide shore-based support to NATO warships.

The Norwegian authority Økokrim said it believes the scheme ran for several years, between 2021 and 2025. It included over-invoicing NSPA for services provided to NATO ships in Norwegian ports, including Bergen. 

The fraud allegations Eurojust reports include bribery of foreign officials done by a suspected company through an intermediary, in return for favored support with their contractual dealings with NSPA.

The cooperating agencies staged simultaneous raids in Norway, Germany, and Romania on Wednesday, searching homes and businesses. Økokrim reported that five individuals were taken into custody in the Bergen area. They have been charged with aggravated fraud against NSPA, or aiding and abetting such fraud.

“Defence sector budgets are increasing worldwide, which entails an increased risk of economic crime,” said Marianne Bender, Senior Public Prosecutor at Økokrim. “It will take time to investigate this case as the charges cover several years and involve a very large number of ship calls.”

The officials said the searches in Germany and Romania involved several companies linked to the same serious fraud. NSPA also noted that the investigation had already led to earlier law enforcement actions in 2024 and 2025, without providing details.

NSPA said it had established a first-of-its-kind investigative capability in 2023, and since then has strengthened and matured this function into an Office of Investigations equipped to detect and combat fraud and corruption, designed to better safeguard the integrity of NATO-related procurement processes. 

The officials said that this case demonstrates how NSPA’s identification of wrongdoings, combined with swift collaboration with national law enforcement, delivers tangible outcomes, including suspensions, debarments and arrests. 

“While it is disheartening to unearth evidence of corrupt practices, these law enforcement actions reflect an investigations system that produces results and upholds the integrity of the agency’s procurement processes,” said NSPA.

The case harkens back to the well-known “Fat Leonard” scandal in the United States, in which a Malaysian defense contractor, Leonard Glenn Francis (aka "Fat Leonard"), and his Singapore-based company, Glenn Defense Marine Asia, bribed U.S. Navy officers to win lucrative husbandry contracts and reportedly bilked the U.S. Navy out of more than $35 million. Francis was known for his lavish entertaining and gifts to the Navy officers, including everything from luxury hotel stays to prostitutes, to get inside information on the Navy’s vessel service plans. Francis was finally sentenced to jail in the United States in 2024, after having briefly fled to Venezuela.