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Global News
Trans-Pacific spot container shipping rates are inching up
Shipping lines’ latest round of general rate increases partially successful Shipping lines have pulled Asia-U.S. spot rates off the floor, but it’s a slog: two steps up, one step back, another two steps up, a slide back again. The general rate increase (GRI) on...
Ship financing in uncertain times
A long-term perspective is essential for financing maritime portfolios in a period of extraordinary market volatility. Michael de Visser | May 26, 2023 Discussing ship finance, one of the key themes at Europort 2023, Michael de Visser, Managing Director of...
Protecting Ports for a Secure Global Supply Chain
A recent Wall Street Journal article highlighted the importance of defending against port cyber attacks. The article outlines upcoming regulations which will encourage more action to prevent attacks. Ports are a significant point within the maritime supply...
Study: Melting Antarctic Ice Could Slow Vital Ocean Currents
A new study has found that melting Antarctic ice is slowing one of the world’s significant deep ocean currents, which could have a wide-reaching impact on marine ecosystems. Antarctica is a unique landscape and its environment has a huge impact on the rest of the...
Hamburg Container Throughput Declines Due to Loss of Russia Trade
Hamburg cited the loss of Russian trade contributing to a soft first quarter 2023 (file photo) PUBLISHED MAY 19, 2023 5:42 PM BY THE MARITIME EXECUTIVE Leading ports in Europe continue to be impacted by the loss of Russia-related business due to sanctions. The...
Container freight market normalisation is ‘not really normal’
Article-Container freight market normalisation is ‘not really normal’ There’s been a lot of talk of normalisation of container shipping markets, but Xeneta analyst Peter Sand doesn’t believe it is normal at all. Barry Parker | May 18, 2023 “Then again, it’s not really...
Houston’s Export Levels Grow as Port Rises in U.S. Rankings
Houston rose to 5th in the U.S. rankings based on the strength of its 2022 volumes PUBLISHED MAY 16, 2023 7:10 PM BY THE MARITIME EXECUTIVE The Port of Houston, Texas continues to outpace the industry showing strong volumes than many other U.S. ports due in part...
Ammonia-Fueled Bulkers Could Start Australia’s Green Corridor by 2028
Pilbara Ports handled 279 vessels and has the potential to be a first mover in ammonia-fueled vessels (pilbara Ports Authority) PUBLISHED MAY 15, 2023 7:33 PM BY THE MARITIME EXECUTIVE A feasibility study on the potential for the Australia-East Asia Iron Ore...
Recession, geopolitics and costs top supply chain fears
A recession in the US, geopolitical tensions and rising operating costs were the top concerns among supply chain professionals, according to a recent survey. Gary Howard | May 10, 2023 Container xChange surveyed 1200 supply chain professionals, asking what disruptions...
Container line schedule reliability returning to pre-Covid levels
Container line schedule reliability is continuing to improve returning to pre-pandemic levels according to analysts Sea-Intelligence. Marcus Hand | May 09, 2023 After a dramatic 7.7 percentage points increase in reliability between January and February this year...
Lifeboats on Cargo Ships Need to Be Redesigned to Improve Crew Safety
While there have been significant advancements in developing lifesaving equipment, the Container Ship Safety Forum says there are far too many injuries to crewmembers aboard cargo ships while launching lifeboats. The industry association, which has a goal to improve...
Imports Continue Slow Climb Despite Cuts in 2023 Forecast
Retail import levels are continuing a slow but steady rise from the three-year lows experienced at the beginning of 2023. The National Retail Federation however continues to lower its forecasts cutting its projections for the second quarter and for the first half of...
As oil tumbles, marine fuel gets cheaper — and so do tanker stocks
VLSFO-HSFO marine fuel spread sinks below $100 threshold Russia — one of the world’s top energy providers — is mired in war. The OPEC cartel is cutting production. And yet, oil prices continue to tumble, weighed by global recession fears and concerns on Chinese...
AD Ports Group expands dry bulk fleet, moves into tankers
AD Ports Group is expanding its shipping fleet with the acquisition of five bulk carriers and three crude oil tankers. “The five bulk carriers, to be purchased for $125 million, form part of the long-term agreement with Saif Powertec, signed in April 2022, for the...
California to Start Phase Out All Diesel Trucks at Ports Next Year
The California Air Resources Board (CARB) approved on April 28 a first-of-its-kind rule that requires a phased transition toward zero-emission medium-and-heavy duty vehicles. Known as Advanced Clean Fleets, the new rule expands on California’s efforts to fully...
Trans-Atlantic shipping rates keep sinking as imports from Europe fall
Building material imports, which previously supported freight rates, are down The trans-Atlantic westbound trade has been a star performer for container lines over the past year, a bright spot amid a global slide. Europe-to-U.S. rates have been an outlier, staying far...
Spot container freight rates on the rise
Spot container rates would seem to be turning a corner with key indexes starting to rise after the collapse seen over the previous year. Both Drewry’s World Container Index (WCI) and the Shanghai Containerized Freight Index (SCFI) posted rises this week. SCFI rose...
Singapore, Los Angeles, and Long Beach Agree to Green Corridor
The ports of Singapore, Los Angeles, and Long Beach became the latest to join the growing list of port authorities committing to the formation of green corridors in the support of the UN initiative and the efforts to achieve global decarbonization. The latest...
As Asia-US shipping rates rise, so does skepticism on staying power
Linerlytica says May 1 rate hikes delayed due to weak demand Container lines have used general rate increases (GRIs) to forcibly push up Asia-U.S. spot rates, yet there’s widespread skepticism on rates’ staying power given the gravitational pull of weak demand....
Starlink making waves in maritime – fast growing interest from major shipping companies
Elon Musk’s Starlink satellite communications service is attracting a growing list leading names in the maritime world. This week saw announcements by Columbia Ship Management (CSM) and Costamare as the latest companies to trial the service provided provided by a...
Reshaping the Future of Logistics: An Outlook on Warehousing Automation Trends
Despite an expected slowing pace of automation in 2023, the forecast is for stronger growth through 2027. According to Interact Analysis’ Warehouse Automation – 2022 report, between 2024 and 2027, the market is forecast to grow at a 19% CAGR, driven by improving...
Los Angeles and Long Beach Port Shutdown Sparks Fears of Retailer Exodus
The port of LOS ANGELES and LONG BEACH shut down for 24 hours from April 6th to 7th due to a mass absence of the majority of workers. The Labor Union and their employers at these ports had been involved in strained negotiations for months. On the...
China-Russia vs. US-EU: How global shipping is slowly splitting in two
Taiwan tensions are latest flash point; geopolitics is reshaping trade Another meeting between a House speaker and Taiwan’s president, another spike in tensions in the Taiwan Strait. Last summer’s meeting between Taiwan President Tsai Ing-wen and Nancy...
Union Workers Skip Shifts Closing Ports of Long Beach and Los Angeles
Crane operators and drivers of cargo-handling equipment failed to show up for work starting with Thursday, April 6, evening shift effectively bringing the ports of Los Angeles and Long Beach to a standstill. Neither the Pacific Maritime Association, which represents...
$34.7bn container line profits mark second straight quarterly decline
The major container lines recorded profits of $34.7bn in the fourth quarter 2022 and are on track for an 80% drop in 2023 profits. Consolidating the results of the sector, Blue Alpha Capital’s John McCown saw a 33.9% drop in profits compared to the year-ago quarter,...
UK’s logistics sector positive on Trans-Pacific Partnership trade deal
The UK’s freight and logistics sector has welcomed news that the UK has joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) trade deal although they say it won’t be a “game changer”. The CPTPP covers 500m people across Australia,...
Supply Chain Trends in 2023
After three years of crisis, the data show that supply chain conditions are improving. That will allow supply chain leaders in 2023 to resurrect initiatives that may have been sidelined — including data and digitalization programs and sustainability efforts. ...
Container cranes lag container ships by a generation
Shoreside infrastructure continues to suffer diseconomies of scale as container ships grow, adding a column per generation. Speaking at CMA Shipping 2023 last week, Shmuel Yahalom, Ph.D., Distinguished Service Professor of Economics and Transportation at SUNY Maritime...
Contract box rates likely to dip as US negotiation season approaches
Oslo-based analyst, Xeneta, expects shippers to hold the whip hand when this year’s long-term container contract negotiations gather pace through April and May. Latest figures from Xeneta show that global long-term ocean rates have fallen by 24% since their August...
Port of Montreal to Implement AI System to Reduce Vessels’ Carbon Footprint
Montreal Port Authority and Global Spatial Technology Solutions (GSTS) have announced a new project aimed at reducing the carbon footprint of vessels. The project, named the "digital corridor", uses artificial intelligence (AI) and is based on the OCIANATM modular...
Massive Strike in Germany Forces Closure of Hamburg Port
A strike organized by public employees has forced the Port of HAMBURG to close down for more than 48 hours. As the port is the second busiest in Europe, port officials have started to limit vessel movement on the Elbe and have closed the port for all...
Study: Maritime Chokepoints Could Contribute to CO2 Reduction
As shipping examines multiple scenarios to limit its GHG (greenhouse gas) emissions, vessel speed reduction is a low hanging fruit in shipping’s decarbonization journey. This is based on the observation that inefficiencies caused by some key choke points in...
What Do You Do if a Hacker Takes Control of Your Ship?
You stand on the bridge and the course is seen digitally. Still, why does the ship continue to turn west? On the computer screens in the dark wheelhouse, everything looks normal - but outside the window, the land comes dangerously close! What is happening? Down in the...
Top bunkering markets – Singapore over three times larger than nearest rival
Singapore tops the rankings for bunker volumes sold with over a third of the global market among the world’s top 17 bunkering destinations last year. Total bunker output last year for the top 17 supply countries and regions was just under 141 million tonnes (mt),...
MSC Takes Delivery of World’s Largest Container Vessel
MSC took delivery of the Ultra Large Container Vessel, the MSC TESSA, at the Changxing Shipbuilding Base in Shanghai. The vessel is estimated to have cost MSC $600 million. The manufacturer claims that MSC TESSA is the world's largest...
First Automated High-Bay Storage System to be Installed at Korean Port
South Korean terminal will employ the first commercial-scale application of the automated high-bay storage system (BOXBAY) PUBLISHED MAR 10, 2023 9:08 PM BY THE MARITIME EXECUTIVE South Korean terminal will employ the first commercial-scale application of the...
FOCUS ON PANAMA
Panama Canal implements ‘disruption charge’ An incident in the Panama Canal could prove costly as the Panama Canal Authority (ACP) implements a ‘disruption charge’ for vessels causing delays and operational difficulties to the critical waterway. The disruption charge...
Retailers See Slow TEU Volume Climb After Positive January Trade Data
PUBLISHED MAR 10, 2023 12:20 PM BY THE MARITIME EXECUTIVE A positive tick-up in trade numbers for January 2023 reported by the U.S. government on Wednesday followed by a forecast for a slow climb back for U.S. retail imports created the first glimmer of hope for...
UK Ports Group ABP Commits $2.4B for Net Zero Transition
The UK’s leading ports group, Associated British Ports (ABP), has unveiled an ambitious $2.4 billion green growth and sustainability plan that is designed to decarbonize operations by 2040. The organization highlights that its plan will also significantly contribute...
China likely to dominate 2023 oil demand growth: MSI
Tanker markets have performed well over the first two months of the year, with sharp increases in spot earnings in both the crude and products sectors, according to Maritime Strategies International (MSI). In its most recent Horizon report, however, the analysts...
Container lines still chartering ships despite drop in cargo demand
GSL, MPC say lessors of smaller ships best positioned to weather storm With import demand flagging, freight rates falling, the container ship orderbook at record highs and ocean carriers canceling voyages, you might think nobody would be chartering more...
Hamburg Gets More Big Ships but Geopolitics/Economy Drive Volume Down
Hamburg is receiving more big containers but volumes were down overall in 2022 (HHA) PUBLISHED FEB 21, 2023 8:29 PM BY THE MARITIME EXECUTIVE The Port of Hamburg, traditionally one of the busiest in the world, experienced a decline in volumes in nearly all...
Hong Kong investing $2.5m to promote maritime services sector
The Hong Kong government has allocated HK$20m ($2.5m) in its 2023 – 24 budget to promote the high-end maritime service industry sector. Marcus Hand | Feb 23, 2023 In his budget speech on Wednesday Hong Kong Financial Secretary Paul Chan said with Hong Kong’s...
Freight forwarders spend 80% of their time fixing problems
Freight forwarders and NVOCCs spend up to 80% of their time manually solving problems with low-tech container operations processes, according to one logistics platform. Gary Howard | Feb 21, 2023 Speaking to Seatrade Maritime News for the Seatrade Maritime Podcast,...
Container price war underway, contract rates plummeting
The gulf between contract and spot container freight rates has narrowed rapidly, and lines appear to be slashing prices rather than capacity. Gary Howard | Feb 16, 2023 The latest market updates from market intelligence platform Xeneta and analyst Sea-Intelligence...
Container lines commit to 100% electronic bill of lading adoption by 2030
Members of the Digital Container Shipping Association (DCSA), including some of the world’s largest container lines, have committed to fully adopting electronic bills of lading (EBL) by 2030. Gary Howard | Feb 15, 2023 DCSA said its nine container line members...
Does it Make Sense to Have a National Emergency Towing Fleet?
Different nations take different approaches to emergency towing response services Two national response vessels in action: Abeille Liberte, foreground, and Anglian Princess, background. The UK has since retired its emergency response tug fleet (Marine Nationale file...
Slow Start to 2023 Volumes in Long Beach Due to Economy and Labor
Port of Long Beach started 2023 with its third consecutive month below 600,000 TEU (Port of Long Beach) PUBLISHED FEB 13, 2023 7:46 PM BY THE MARITIME EXECUTIVE Container volume at the Port of Long Beach is off to a slow start in 2023 as port officials continue...
Asian shipping lines are reporting steep revenue declines
Income plunges for OOCL, Evergreen, Yang Ming, Wan Hai New operating results from four Asian shipping lines were released Friday, pointing to steep performance declines in the fourth quarter and ongoing market erosion in the first month of this year. Orient Overseas...
Why ESG Matters for the Decarbonization of Shipping
The Potential for ESG Strategies in Shipping’s Decarbonization With shipping companies making ambitious investments in decarbonization, the debate around creation of robust ESG (Environmental, Social, and Governance) strategies for the industry has become imperative....
Local News
Electric train service that will link Johor Bahru to north Malaysia hits another roadblock
KUALA LUMPUR – The Gemas-Johor Bahru electrified double-track rail project (Gemas-JB EDTP), which is expected to halve the journey time between Kuala Lumpur and Johor Bahru once it links up with the already up-and-running Padang Besar-Gemas line, has missed yet...
Port of Tanjung Pelepas Recognized with Supply Chain Innovator of the Year Award
BANGKOK, Nov. 01, 2024 (GLOBE NEWSWIRE) — Port of Tanjung Pelepas (PTP), Malaysia’s largest transshipment hub, was honored with the Supply Chain Innovator of the Year: Digital Transformation Award at the 2024 Supply Chain Asia Awards on Friday, Oct. 18. The...
PM Anwar urges logistics sector to maintain high standards of workforce skills and industry infrastructure
He pointed out the recent growth in investments in Selangor, Johor, and Kulim Hi-Tech, with more data centres and focus on AI being implemented in Malaysia. Prime Minister of Malaysia Anwar Ibrahim has called on all parties — including the Ministry of Transport,...
Malaysia’s Budget 2025: Impact for Businesses
On October 18, Malaysia’s government introduced its 2025 national budget – the largest in its history – to bolster the economy’s competitiveness by introducing new tax incentives, slashing subsidies, and developing new economic clusters. With an unprecedented 421...
Say goodbye to traffic jams: West Coast Expressway to ease North-South Expressway congestion, elevate local growth, says transport minister
TANGKAK, Nov 2 — The West Coast Expressway (WCE) from Banting, Selangor, to Gelang Patah, Johor, will serve as an alternative route to alleviate the traffic congestion frequently faced by motorists on the North-South Expressway (NSE). Transport Minister Anthony Loke...
Port operators should view KRA land bridge as opportunity to boost competitiveness – Loke
Transport Minister, Anthony Loke, instead said that port operators need to improve operational efficiency and formulate strategies, in line with Malaysia’s investor-friendly foreign policy, to compete with projects in the neighbouring country. “This is Thailand’s...
Growth In Demand For Relocation Services In Malaysia And Singapore Amid Market Challenges
(MENAFN- market Press Release) October 25, 2024 7:59 am - As global mobility increases and companies expand operations across borders, Malaysia and Singapore have witnessed a surge in demand for professional relocation services. [Kuala Lumpur, October 25,...
Shipping capacity in Asia strong despite global shocks: UNCTAD report
Asia is still the region best-connected to global shipping networks, according to the latest Review of Maritime Transport released by UN Trade & Development (UNCTAD). Asian economies retain top spots on the global liner shipping connectivity index, with China at...
RI, Singapore, Malaysia seek ways to make maritime navigation safe
Jakarta (ANTARA) - Indonesia, Singapore, and Malaysia are continuing to strengthen cooperation to improve maritime safety in the straits of Malacca and Singapore. The cooperation has been carried out through the Tripartite Technical Experts Group (TTEG) forum,...
Singapore, Malaysia deploy aircraft to support relief operations in Philippines – Manila Standard
Military aircraft from Singapore and Malaysia arrived in the Philippines on Saturday to assist with ongoing relief operations following the onslaught of Severe Tropical Storm Kristine. A C-130 cargo aircraft from the Republic of Singapore Air Force (RSAF) and a...
Budget 2025 roundup: 20 quick facts entrepreneurs in Malaysia need to know
Following the theme of “Ekonomi MADANI: Negara Makmur, Rakyat Sejahtera”, Budget 2025 has been tabled on October 18, 2024, by Malaysia’s Prime Minister and Finance Minister, Datuk Seri Anwar Ibrahim. If you missed it, here are the must-know topics for...
New minimum wage will cause job loss says enterprise association
PETALING JAYA: The increase in the minimum wage to RM1,700 from Feb 1 next year is expected to disrupt the operations of small and medium enterprises (SMEs), according to the Small and Medium Enterprises Association of Malaysia (Samenta). Its president, Datuk Willian...
Explained: What will the expanded SST affect and when?
KUALA LUMPUR, October 18 — The federal government is expanding the scope of the Sales and Service Tax (SST) to further improve the nation's tax revenue in the Budget 2025. The expansion will be implemented starting May 1, 2025. Here are the key points from Prime...
Malaysian Checkpoints and Border Agency to take over operations of five entry points from Feb 2025
Operations will begin in phases, starting with the Rantau Panjang entry point from 1 January 2025. As part of efforts to improve border control, the Malaysian Checkpoints and Border Agency (AKPS) will assume control of the country's five entry...
Solving the Southeast Asia Logistics Puzzle
Southeast Asia is growing as a driving force in global trade. Its logistics sector has faced several stress tests in recent years. Here’s one factor that can make a difference. Southeast Asia has long been the go-to area for manufacturers seeking cost-effective...
Adopt EV and AI to enhance customer service, minister Fahmi urges delivery and logistic firms
KUALA LUMPUR, Oct 9 — Communications Minister Fahmi Fadzil has called on delivery and logistics companies today to utilise technologies such as electric vehicles (EV) and artificial intelligence (AI) to enhance services for customers. He said this in line with Pos...
Malaysia committed to exploring new business opportunities in Laos
VIENTIANE: Malaysia is committed to exploring new business opportunities in Laos that could benefit both countries and is looking forward to enhancing bilateral cooperation, Prime Minister Datuk Seri Anwar Ibrahim said. The sectors include defence, banking and...
Tengku Zafrul: Malaysia, UAE enhance trade prospects after concluding CEPA negotiations
KUALA LUMPUR: Malaysia and the United Arab Emirates (UAE) have successfully concluded the negotiations for a Comprehensive Economic Partnership Agreement (CEPA), set to eliminate or reduce tariffs, lower trade barriers, foster private-sector collaboration, and create...
Mandanas announces: Batangas is logistics hub for ASEAN
THE ASEAN-Batangas Access Zone (ABAZ) was officially turned-over Friday to the provincial government of Batangas, making the province the logistics hub for Southeast Asian countries. ASEAN consisted of Brunei, Burma, Cambodia, Indonesia, Laos, Malaysia, Philippines,...
JCorp launches new container operations at Tanjung Langsat Port
JOHOR BAHRU: Johor Corporation (JCorp), through its subsidiary JLand Group (JLG), has launched new container operations at the Tanjung Langsat Port (TLP), Johor, aimed at strengthening Malaysia’s position in the global oil, gas, and logistics industries. JCorp said in...