Costas Paris

A little-known trader from Azerbaijan assembled a clandestine network that moves vast quantities of petroleum to China, India and other new markets

Evangelos Marinakis oversees an armada of more than 100 ships and a flotilla of soccer clubs, led by Olympiacos, which is on the cusp of lifting its first-ever European trophy.

Shares of big shipping companies dropped Monday on expectations of a Gaza ceasefire deal that would likely halt Houthi rebel attacks in the Red Sea. The election of a moderate president in Iran, who could discourage Houthi attacks, also bolstered the chances of shipping companies returning to the Red Sea. Freight rates for boxship operators have shot up since November, with vessels rerouting from the Red Sea and the Suez Canal to the Cape of Good Hope around South Africa.

Six people remain unaccounted for and presumed dead after the luxury vessel was hit by a sudden thunderstorm and quickly sank just before sunrise Monday.

The Sounion is carrying a million barrels of oil, and a U.N. group warns that a spill could devastate the coasts of Red Sea countries.

Allegations of sexual assault on ships that ferry goods around the world have put the ocean shipping industry under a harsher spotlight, but many cases still fall into a prosecutorial void.

Shares in container-shipping heavyweight A.P. Moller-Maersk and peers sank Wednesday, on fears Donald Trump could slap new tariffs on China and other trading partners—making U.S. imports pricier and potentially cutting shipping volumes.

The U.S.-flagged ships were blocked from a Spanish port after Spain reportedly said it would wave off vessels believed to be carrying military equipment for Israel.

The canal executive said China doesn’t control route and U.S. ships can’t get better rates than others.

The world’s top three container operators said they fear instability in Gaza and broader regional tensions mean continued danger.