Global News
Falling Rates are Likely to Continue Due to Low Vessel Utilization
PUBLISHED AUG 18, 2022 4:53 PM BY THE MARITIME EXECUTIVE Container prices and spot shipping rates have fallen significantly year over year despite the fact the industry is entering what is traditionally peak season. While declines in demand versus the surge in...
Trans-Pacific rates still sinking. Trans-Atlantic rates still peaking
FBX: Asia-West Coast rates -70% year on year. Europe-East Coast rates +44% It’s a tale of two oceans: The price to ship containers of cargo eastbound from Asia to the U.S. across the Pacific continues to recede from record levels. In contrast, the price to ship...
DP World Sees Profits Soar With Rising Demand for Container Storage
PUBLISHED AUG 21, 2022 10:02 PM BY THE MARITIME EXECUTIVE In the last few weeks, shipping and logistics companies have mesmerized the world with record first-half profits. DP World, one of the largest port operators worldwide, is the latest addition to the list....
Auckland ports commissions Sparky, first all-electric tug from Damen
Damen’s first all-electric harbour tug has been named Sparky and received her Maori name, Tiaki, on delivery to the Ports of Auckland last week. Paul Bartlett | Aug 12, 2022 The RSD-E Tug 2513 has a bollard pull of 70 tonnes and is capable of assisting the largest...
FMC Considers Invoking Emergency Powers to Alleviate Port Congestion
While West Coast congestion has declined it has increased in ports such as Savannah and Charleston (GPA file photo) PUBLISHED AUG 14, 2022 8:49 PM BY THE MARITIME EXECUTIVE The Federal Maritime Commission is considering invoking its newly granted emergency powers...
Lines Prepare for Felixstowe Strike After UK Port Labor Talks Stall
Unions are planning an 8-day strike for the port later this month (Felixstowe file photo) PUBLISHED AUG 14, 2022 3:40 PM BY THE MARITIME EXECUTIVE Felixstowe, the UK’s largest container port, is heading for a crippling 8-day strike after mediation talks with...
Container volume at major Chinese ports up 6.1% in mid-July
According to statistics released by China Ports and Harbors Association, container volume at eight major Chinese ports increased 6.1% year-on-year in mid-July Katherine Si | Aug 05, 2022 The rate of growth was fairly consistent with the 5.9% volumes increase seen in...
The impact on shipping of China military exercises off Taiwan
In further disruption to the supply chain vessels face being forced to divert from the Taiwan Strait as China launches large-scale, live firing military exercises in the key waterway. Marcus Hand | Aug 04, 2022 China began live firing exercises at 12 noon, local time,...
Bulk carrier with grain grounding at Napoli Port, Italy
Bulk carrier IRVINE BAY ran aground in Napoli Port area while approaching berth, on arrival from Santana Brazil with cargo of grain, at around 1200 UTC Aug 4. She was refloated with high tide at around 0230 UTC Aug 5 with tugs assistance, and berthed. No damages, no...
War effect on crude trade: Long-lasting and just beginning
Euronav and Teekay execs see post-invasion trade patterns sticking Is the shift in global crude flows due to the Ukraine-Russia war a fleeting event or the start of a new era? At first, many market watchers and investors viewed it as short-lived. It now seems like...
What’s Causing So Many Port Strikes? It May be the Profits
Ocean carriers and some terminal operators have had a run of exceptional earnings, and dockers want a share. PUBLISHED JUL 29, 2022 9:29 PM BY BRIAN GICHERU KINYUA Besides congestion, strikes at major ports in Europe, Asia and North America have become another...
Container rates may have peaked – 280% above pre-pandemic levels
Long-term contracted ocean freight rates in the container market may have peaked, but remain 112% up on-year and 280% up on July 2019. Gary Howard | Jul 28, 2022 Data from container market intelligence outfit Xeneta showed a deceleration in the price rise of long-term...
51-Day Strike Ends as Questions of DSME’s Financial Stability Mount
PUBLISHED JUL 22, 2022 7:44 PM BY THE MARITIME EXECUTIVE Daewoo Shipbuilding & Marine Engineering Co. and the union representing subcontractors reached an agreement at the end of the day on Friday ending a 51-day strike that threatened the financial stability...
What Does the Black Sea Grain Agreement Mean for Africa?
PUBLISHED JUL 24, 2022 7:23 PM BY WANDILE SIHLOBO If Russia keeps to the deal it has signed with Ukraine allowing for the resumption of grain exports, much needed relief will be provided to importing countries, including many in Africa. The relief would be...
US exports of crude oil and diesel are climbing even higher
More diesel flows to Latin America, more crude to Europe At-the-pump prices for gasoline and diesel may be down from all-time peaks but they remain exceptionally high. Meanwhile, as domestic energy resources flow to the highest bidder, more U.S.-produced crude is...
Congestion shifts to US East Coast ports
Port congestion in the US has shifted eastwards with more vessels now waiting at New York and Houston ports than Los Angeles and Long Beach. Marcus Hand | Jul 19, 2022 Congestion at US West Coast ports hit the headlines last year as it reached record levels with...
Stark warning on European energy crunch
Oslo-based analyst, Rystad Energy, has warned that energy turmoil, caused largely by Russia’s invasion of Ukraine and sanctions that followed, may cause ‘vast demand destruction across industries and consumers’ in Europe. Paul Bartlett | Jul 19, 2022 Despite support...
Biden Heads Off Rail Strike With 60-Day Cooling Off Period
PUBLISHED JUL 18, 2022 10:49 PM BY THE MARITIME EXECUTIVE To head off the supply-chain impact of a railway strike, U.S. President Joe Biden has established a presidential emergency board to help resolve a labor dispute between Class I rail carriers and their...
Clearance of Snake Island Opens Route to Ukraine’s Danube River Ports
The Reni port complex on the Ukrainian side of the Danube. Reni, Izmail and Kiliya now have improved access to the Black Sea (USPA file image) PUBLISHED JUL 11, 2022 2:48 AM BY THE MARITIME EXECUTIVE Ukraine is working to revive long-idled inland ports along the...
Post-Covid container demand boom coming to an end
The post-Covid demand surge for container shipping appears to have run its course according to Drewry’s port throughput indices. Marcus Hand | Jul 11, 2022 The Drewry Global Port Throughput Index stood at 141.1 points in April 2022 some 1.5% lower than April 2021,...
Long Beach container backlog crosses red line as delays mount
Long-dwelling containers in the Port of Long Beach now up 9% vs. Oct. 28 he number of container ships waiting off Los Angeles and Long Beach is well off its highs, but the pileup of import containers waiting on Southern California terminal yards is rapidly...
Offshore ship sunk by typhoon off Hong Kong, 27 people missing UPDATE
Jul 2 1500 UTC UPDATE: The ship is identified, it’s offshore construction ship FU JING 001. SAR is under way in extremely challenging weather conditions, 3 SAR ships in the area. So far, 3 people were rescued, 27 remain missing. Offshore construction ship, not yet...
New Maersk feeder servie cuts Asia – Italy transit times
Maersk has launched a new feeder service between Port Said, at the northern end of the Suez Canal and Vado Gateway at the Port of Genoa, which will reduce transit times. Michele Labrut | Jul 01, 2022 The first 3,000-teu feeder of this new service will depart from SCCT...
US outbound container volume drops for 12th month straight
While inbound container volumes continued to rise in the US, export volumes fell for the twelfth straight month in May. Gary Howard | Jun 29, 2022 According to the McCown Report, East Coast and Gulf Coast imports helped inbound volumes rise 2.9% in May across the top...
Containers lost at sea increased 400% in 2020 – 2021
There was a four-fold increase in the number of containers lost overboard during the 2020 – 2021 compared to the previous two-year. Marcus Hand | Jun 22, 2022 According to figures from the World Shipping Council (WSC) 3,133 containers were lost overboard in the 2020 –...
Analysis: The next COVID-19 booster shots will likely be updated for Omicron
NEW YORK: COVID-19 vaccines this fall are likely to be based on the Omicron variant of the coronavirus rather than the original strain, although some experts suggest they may only offer significant benefits for older and immunocompromised people. Moderna, Pfizer and...
UN Ocean Conference is a Key Step to Restoring Ocean Health
PUBLISHED JUN 26, 2022 3:50 PM BY CHINA DIALOGUE OCEAN [By Peter Thomson] With every breath we take, we are connected to the ocean. The planet-defining blue covers more than 70 percent of the Earth’s surface, providing half of its oxygen, stabilising our...
US and Norway Launch Green Shipping Challenge to Build Decarbonization
The U.S. and Norway are challenging the shipping industry to develop decarbonization plans ahead of COP 27 PUBLISHED JUN 17, 2022 7:58 PM BY THE MARITIME EXECUTIVE Speaking with world leaders at the third virtual Major Economies Forum President Joe Biden...
Surge in Boxship Orders Could Create Capacity Surplus as Early as 2023
Many of the next generation of boxships will be dual-fuel, like this CMA CGM LNG-powered container ship (CSSC Hudong Zhonghua / CMA CGM) PUBLISHED JUN 17, 2022 7:47 PM BY BRIAN GICHERU KINYUA Although trade volumes are cooling, the appetite by major ocean...
Freight data wars on the horizon
When it comes to anything related to supply chains, uncertainty pervades. Barry Parker | Jun 15, 2022 An early June report from the Freightwaves platform, with the headline, "US import demand is dropping of a cliff”, received a great deal of traction, and caused...
Livestock carrier with 16,000 cattle capsized in Red sea
Posted in Accidents by Mikhail Voytenko on Jun 12, 2022 at 04:10. Livestock carrier AL BADRI 1 capsized and sank along pier at Suakin Port, Sudan, Red sea, in the evening Jun 11, while about to leave port. The ship with some 16,000 cattle on board is resting starboard...
Mission to Seafarers re-opens Singapore drop-in centre
The Mission to Seafarers has officially re-opened its drop-in centre at Jurong Port after a two-year closure due to Covid restrictions. Marcus Hand | Jun 10, 2022 “It’s great to be back!” declared the Mission to Seafarers Singapore (MtSS) Chairman, Capt. Rob Walker,...
Retailer inventories could drag US-China box rates lower
Falling demand and high retailer inventories could bring US-China container rates even lower, according to a supply chain analyst. Gary Howard | Jun 06, 2022 Shifl said that US retailers are sitting with excess inventory and in many cases still awaiting orders which...
Ports get ‘much needed respite’ as container-ship traffic jam eases
Ship queues down off Southern California, Virginia and Charleston It could be the relative calm before the peak-season, post-Shanghai-lockdown storm. Or it could be the final unwinding of COVID-era congestion as inflation takes hold. What happens next is still highly...
Shanghai’s Port is Nearing Normal Operations After Two-Month Lockdown
PUBLISHED JUN 6, 2022 2:34 PM BY THE MARITIME EXECUTIVE As China continues to roll back restrictions on most parts of Shanghai, port operations appear to be approaching normal levels. It, however, remains to be seen how quickly throughput can be restored at the...
IMO Breaks Deadlock on Carbon Pricing for Shipping
PUBLISHED MAY 27, 2022 8:35 PM BY NJIRAINI MUCHIRA The push to decarbonize the commercial shipping industry has achieved a major breakthrough after countries reached a consensus on carbon pricing of shipping emissions, a development that comes after more than 10...
World-First Hydrogen-Powered Tugboat to Be Welcomed by the Port of Antwerp-Bruges
Posted in Ship Building and Technology by Raghib Raza on May 26, 2022 at 06:00. The world's first hydrogen powered tug, HYDROTUG, was launched from the Armón Shipyard in Navia, Spain, on May 16th. After the completion of the remaining construction and the passing...
Video: Barge Loses Containers on Route to Singapore
Tug lost control of the container barge during the tow to Singapore dropping at least 18 containers into the ocean (Indonesian SAR) PUBLISHED MAY 27, 2022 8:06 PM BY THE MARITIME EXECUTIVE An Indonesia tugboat pulling a container barge encountered unexpectedly...
$60bn first quarter windfall for container sector
The container industry made a $59.3bn profit in the first quarter, the sixth consecutive record quarterly profit for the sector. Gary Howard | May 20, 2022 The McCown Container Results Observer noted that the result marked more than a threefold improvement over the...
LNG and the Road to Net Zero
PUBLISHED MAY 22, 2022 2:08 AM BY MARK VENABLES (Article originally published in Mar/Apr 2022 edition.) Driven by an ambitious IMO decarbonization strategy and calls from the European Parliament and European Commission to reduce global emissions from shipping,...
National Maritime Day: Why are We Still Asking if Women Belong at Sea?
PUBLISHED MAY 22, 2022 1:43 AM BY ALLY CEDENO Over the last year much has been written about female mariners and our role in the maritime industry; unfortunately, the tone and tenor of the coverage might unintentionally dampen the remarkable progress women are...
Container shipping rates: Still sky high but falling back to Earth
Asia-US container shipping indexes down around 20%-30% from peaks It’s still very expensive to ship containers full of goods across the oceans. Spot rates globally are still more than quadruple pre-pandemic levels. But rates are now materially lower than they were a...
Climate Change is Making Both Hurricanes and Hurricane Flooding Worse
PUBLISHED MAY 15, 2022 9:31 PM BY THE CONVERSATION Super cyclones, known as hurricanes or typhoons in different parts of the world, are among the most destructive weather events on our planet. Although wind speeds within these storms can reach 145...
South Korea’s Shipbuilding Orderbook Reaches Six-Year High
Despite concerns that the global boom in shipbuilding orders is slowing, South Korean shipbuilders’ orderbook reached a six-year high in April 2022. Driven by the strength of the market in 2021 and brisk orders in the first four months of this year, the South Koreans...
The world is ‘crying out for diesel.’ Product tankers could win big
Product tanker owners Ardmore, INSW, Scorpio see scramble for diesel supplies Retail gasoline prices in the U.S. are up 45% year on year. Diesel used by American truckers is up 75% and just hit an all-time high. But this is not just an American problem. Pain at...
Major Chinese ports container volume falls 5.7% in mid-April
Container volume at eight major Chinese port declined by 5.7% year-on-year in mid-April affected by the recent Covid outbreaks in Yangtze River delta region. Katherine Si | May 06, 2022 Export container volumes dropped 4.1% while the domestic volumes declined...
Retail Imports Set New Monthly Record at U.S. Ports
PUBLISHED MAY 6, 2022 8:39 PM BY THE MARITIME EXECUTIVE Imports at the U.S.’s major container ports set a new record this spring and are expected to continue at near-record levels into the summer of 2022 as retailers bring in merchandise ahead of rising costs and...
Despite rising risks, shipping lines on track for another record year
Kuehne+Nagel reports 15% drop in Chinese exports but expects quick recovery The year is almost a third over, and with each passing month, shipping lines look increasingly likely to pocket even more cash in 2022 than in record-trouncing 2021. New data and...
China lockdowns are not causing shipping chaos, say liner CEOs
Maersk and Matson don’t see severe China lockdown fallout yet It was predicted that China lockdowns would cause container shipping havoc. Six weeks into Shanghai lockdowns, it still hasn’t happened. Two liner CEOs — Maersk’s Soren Skou and Matson’s Matt Cox —...
How COVID transformed trans-Pacific container shipping
COVID-driven cargo demand has dramatically altered the trans-Pacific shipping landscape. New data from Alphaliner highlights just how much the Asia-U.S. trade lane has changed over the past two years. There’s now far more container shipping capacity in the trade than...