Major companies such as Ikea, Amazon, Unilever and Michelin are committing to a full transition of their ocean transport to zero-emission fuels by 2040. Maersk CEO Søren Skou welcomes the announcement. NGOs are excited but remain critical. Being updated.
Extreme container freight rates might lead to a string of bankruptcies for companies without transport deals, says shipping analyst Lars Jensen in an analysis to Shippingwatch. Particularly smaller fashion brands are under pressure, according to trade organization.
Container carriers' customers are currently so fixated on capacity shortages that they have less time to enter projects aimed at creating common digital standards in the industry. "We'll have to wait for them to be ready again," DCSA CEO Thomas Bagge tells ShippingWatch.
Carriers in the US, Europe and South Korea continue to scrap end-of-life ships at beaching yards in Southeast Asia. The third quarter proved the most fatal on record, according to NGO Shipbreaking Platform.
Efficiency is dropping at UK container port Felixstowe while containers are piling up, according to Vesselsvalue. Some carriers are now opting to divert their vessels away from the port.
With acute shortages of capacity, bottlenecks and ensuing delays have continued to affect the multi-purpose sector, where containers are lucrative goods. The rates are currently record high, according to an analysis from Toepfer Transport.
Additional fees charged for delayed arrivals or container pick-ups in ports must be clearly stated on container lines' websites, and there must be clear procedures for customer disputes, urges US maritime authority FMC.
Logistics group H. Essers has acquired family-owned Coral Transports & Stocks in Spain. H. Essers has activities in 19 countries.
Hotel rig company Prosafe's fleet utilization rate has been at its highest in the past three months since the second quarter of 2019. The high fleet utilization comes after several inactive rigs due to i.a. maintenance.
The ports of Seattle and Tacoma on the US West Coast will try out an extension of their opening hours to effectivize the delay-ridden container traffic in the US.
Barbara Melvin, currently the chief operating officer of South Carolina Ports, will succeed CEO Jim Newsome effective next year. Newsome held the position as CEO for 13 years.
In a remarkable proposal, one of the world's largest shipping nations calls on the IMO to introduce CO2 quotas along with a demand to effectivize the fleet. The proposal will be discussed this week preceding the defining MEPC meeting in November.
Christian Møgelvang replaces Klaus Jepsen as group CEO of New Jersey-based Shipco Transport, owned by Scan Group and Arne Simonsen.
Ikea should switch to green energy for shipping by 2024, NGOs demand. The furniture group stands firm on its 70 percent reduction of CO2 emissions by 2030.
Investment company Celsius is expanding its LNG fleet with an order for four large vessels in South Korea. The vessels have already been reserved for charters.
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The banks in Poseidon Principles are working on the basis of halving CO2 emissions in shipping by 2050. At the same time, some of the same banks are working towards a target of CO2 neutrality by 2050 as part of the Net-Zero Banking Alliance. Before long, Poseidon will reassess its ambition.
It now costs upwards of USD 20,000 more for a shipper to use the spot market instead of a contractual agreement in the extreme container market, a doubling in four months, according to Sea-Intelligence.
The US Coast Guard boarded a container ship that dragged its anchor near to a Southern California undersea pipeline that was the source of an oil spill earlier this month.
Maersk's port company APM Terminals has appointed a head of decarbonization starting in November.
German bank Berenberg expands the range of funds with two additions that specifically target shipping.
Buyers in Europe and the US will have to wait longer for their supply of goods, as Chinese factories are forced to reduce production, according to Financial Times.
More working hours in US ports could help ease the burden in the chaotic freight market, says FMC chair Daniel B. Maffei. The entire supply chain is under pressure, according to a debate with participation from World Shipping Council and Kuehne+Nagel, among others.
Think tank InfluenceMap has mapped out how well global companies like Unilever, Ikea and Maersk are performing in terms of meeting climate requirements and whether their words match their deeds. Ambiguous communication stands in the way of Maersk reaching the top, the think tank explains to ShippingWatch.
By 2050 at the latest, Danske Bank's loan portfolio must be fully CO2 neutral. The bank, which provides loans to shipping as well as the oil and gas sector and also supports the Poseidon Principles, isn't ready yet to set out short-term intermediate targets on the road towards CO2 neutrality.
The queue of container vessels in the world's ports has decreased in recent weeks, though not off Long Beach and Los Angeles where the queue has gotten longer, according to VesselsValue.
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