Global News

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...

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...

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...

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...

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,...

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...

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...

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...

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...

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...

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...

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...

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...

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 —...

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...

File image courtesy CSCEC PUBLISHED APR 20, 2022 2:57 PM BY BRIAN GICHERU KINYUA For the past two years, it has been a roller coaster ride in the ocean freight business. After the early-pandemic slowdown in 2020, demand soared in 2021, resulting in massive...

FMC increases focus on ocean carriers as export volumes continue to fall (Seattle file photo) PUBLISHED APR 22, 2022 5:56 PM BY THE MARITIME EXECUTIVE The imbalance between U.S. imports and exports and the repeated complaints from manufacturers and the...

The continuing Shanghai lockdown against Covid has not translated, as yet, into a large number of blank sailings by container lines. Marcus Hand | Apr 22, 2022 Analysts Sea-Intelligence compared the number of blank sailings that resulted from the Covid outbreak...

Expert says it's ‘deeply concerning’ China produces 95 percent of the world’s shipping containers A recent report from the U.S. Federal Maritime Commission (FMC) showed that China’s control of global container manufacturing poses a threat to supply chains and...

Global supply chain disruption is set to last at least another 12 months, and could run through all of 2023, according to Toll Group Managing Director Thomas Knudsen. Marcus Hand | Apr 12, 2022 Speaking to Seatrade Maritime News last week during...

Carriers are diverting and refusing Shanghai shipments as the backlog continues (file photo) PUBLISHED APR 15, 2022 12:11 PM BY THE MARITIME EXECUTIVE Three weeks into what was originally announced as a lockdown for a few days in Shanghai, China’s government has...

Vietnam plans to build a national container shipping operation first in Asia and then global to combat supply chain disruptions (Vietnam Maritime Administration) PUBLISHED APR 15, 2022 6:55 PM BY THE MARITIME EXECUTIVE Vietnam is planning the launch of a national...

Container lines are diverting reefer shipments and some vessel calls at Shanghai as congestion worsens at the port due to the prolonged Covid lockdown in the city. Marcus Hand | Apr 11, 2022 As the Shanghai lockdown moves into its third week a severe shortage of...

Some indexes show falling trans-Pacific rates but signals still mixed Is faltering consumer demand curbing imports, allowing port congestion to finally ease, releasing container-ship capacity and causing ocean spot rates to sink? Is this the beginning of “the big...

AP Moller-Maersk is launching a cargo airline as the top the container lines continue to expand their logistics and multimodal offerings. Marcus Hand | Apr 08, 2022 Maersk Air Cargo will be based out of Billund, the second largest airport in Denmark and will...

Agreement calls for the first ammonia-fueled VLCC to enter service before the end of 2925 (MSIC/AET file photo) PUBLISHED APR 4, 2022 8:01 PM BY THE MARITIME EXECUTIVE Just two years after announcing plans for a joint development project to explore ammonia-fueled...

Shanghai has extended its lockdown and the world’s largest container port has taken using more river and sea transport to bring boxes to terminals. Marcus Hand, Katherine Si | Apr 01, 2022 The two-phase lockdown was supposed to end on Friday in the east of...

The race to decarbonize global shipping is in full stride with a multitude of proposed solutions. They’re today’s answer to “putting wind back in the sails.” Many leading shipping companies are planning to gradually transition to zero-carbon vessels, like Maersk's...

International Container Terminal Services Inc. is set to construct a berth in the Manila International Container Terminal to increase its capacity in anticipation of increased demand. The new berth, “Berth 8”, will serve Megamax ships with a maximum capacity...

Salvors have put together a plan to refloat the containership aground outside Baltimore Port, Ever Forward, according to an update from Evergreen. Gary Howard | Mar 18, 2022 Evergreen has appointed salvor Donjon Smit to the vessel, and after multiple underwater...

Ukraine – Russia conflict could see 1.5m containers shipped by rail between Asia and Europe rerouted to ocean shipping driving up freight rates yet further, warns UNCTAD. A report by UNCTAD on the trade and development impact of the war in Ukraine highlighted that...

An IMO Extraordinary Council Session held at the end of last week on the impact on seafarers and shipping in the Black Sea and the Sea of Avoz from the conflict in Ukraine stated it “deplored the attacks of the Russian Federation aimed at commercial vessels, their...

The queue of vessels outside the ports of Los Angeles and Long Beach is set to start growing again, according to a Sea-Intelligence report. Gary Howard | Mar 10, 2022 Using the fourth quarter of 2021 as a baseline, Sea-Intelligence modelled the cumulative change...

China’s Ministry of Transport and National Development and Reform Commission jointly issued notice to reduce port charges starting from 1 April. Katherine Si | Mar 04, 2022 Implementing a decision by an executive meeting of the State Council’s to reduce and...

Repsol and Spanish state-owned shipbuilding company Navantia have signed a collaboration agreement to jointly develop solutions to decarbonise maritime transport. Michele Labrut | Mar 04, 2022 The aim is to develop solutions in line with the greenhouse gas...

With U.S. ports, and especially those on the West Coast, struggling to recover from the backlogs developed in 2021, a group of 49 trade associations from retailing, manufacturing, and other industries is highlighting the potentially damaging effects that could come...

Average price at top refueling ports approaches $900 per ton The price of ship fuel was flirting with a new record even before Russia invaded Ukraine. Then war broke out, and the highs of the past were left far behind. Ship fuel costs have “gone parabolic,” said...

Multiple international container lines have announced they will not call Ukraine ports, while Russian services generally remain available. MSC, Maersk and CMA CGM all released operation updates announcing suspensions of vessel calls to Ukraine until further notice....

New data by UNCTAD shows that 2021 recorded the highest trade growth ever. The positive trend was buoyed by increases in commodity prices, subsiding pandemic restrictions and a strong demand recovery due to economic stimulus efforts. Overall, the value of global trade...

Military action could cause ship fuel prices to spike, create tanker wild cards Ukraine is on a knife’s edge. Russian troops are amassed at its border. The U.S., EU and U.K. warn of severe consequences if Russia attacks, which the U.S. believes could happen at any...

Maritime tech has never seen anything like the past 12 months: a whirlwind of deals that may be just the beginning. “Clearly, there is an influx of capital, especially over the last year, and the pace is just continuing to increase,” said Evan Efstathiou, founder of...

Robert Maersk Uggla is to take over Chair of the Board of AP Moller – Maersk as Jim Hagemann Snabe stands down. Marcus Hand | Feb 15, 2022 Robert Maersk Uggla, CEO of AP Moller Holdings, is the fifth generation of the Maersk family to lead the company. His mother...

China’s deepsea technology science laboratory Taihu is jointly establishing a vessel and sea data intelligence application innovation lab with Huawei Technology. Katherine Si | Feb 18, 2022 The newly established lab will combine the IT and AI technology with...

Port congestion is growing in Asia with an increase in the average numbers of containerships per day waiting to berth at key ports according to analysts project44. Marcus Hand | Feb 18, 2022 The average number of ships waiting per day at Asian ports...

As shipping moves toward semi-autonomous and autonomous vessels Nir Ayalon, CEO and founder of Cydome, says cybersecurity needs to be at the forefront of people’s minds. Nir Ayalon, CEO and founder of Cydome | Feb 21, 2022 Covid has taught the shipping world a lot of...

Strict Covid-19 could continue to restrict yard capacity for drydocking in the coming year warn Nippon Marine Paint. Marcus Hand | Feb 03, 2022 The number of vessels drydocked at Southeast Asian yards for paint jobs dropped sharply in 2020 and 2021, and while...

The timetable for a container shipping correction keeps receding into the distance, which is either very good news or very bad news, depending upon which side of the market you’re on. The first predictions for a downturn were for October 2020 after China’s Golden Week...

PUBLISHED FEB 9, 2022 1:55 PM BY THE MARITIME EXECUTIVE Calling 2021 an exceptional year, A.P. Moller – Maersk reported year-end results producing the expected records, including the largest profit by any shipping company and the largest ever profit for any...

By Angelo Matthias in India 04/02/2022 Maersk Line is raising the bar on integrated logistics solutions in India, as customers continually demand more on the supply chain-side in a highly competitive market environment. The carrier’s latest effort around...