News on US.
The US Federal Maritime Commission is launching an expedited inquiry into eight container carriers in connection with surcharges introduced at the currently red-hot market. In a comment to ShippingWatch, Hapag-Lloyd denies allegations that surcharges are not handled properly.
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The record-high volumes hitting US container ports will most likely last well into 2022, as companies are rushing to replenish their stockpiles following an uneven rebound from the pandemic.
The intense container market is prompting the US to clamp down on "unfair" prices and monopolies. President Joe Biden is expected to sign an executive order that will, among other measures, urge the Federal Maritime Commission to amp up its efforts to combat unfair competition.
The unusually high demand in the container market is almost exclusively due to US import, writes Sea-Intelligence.
The US is consuming to such a degree that the nation's goods supply compared to sales is at its lowest level since 1992, despite high growth rates in freight volumes going into the US, says Lars Jensen, analyst at Vespucci Maritime.
Increased efficiency is not enough to achieve the goal of a climate-neutral fleet, says German Shipowners' Association after Wednesday's announcement from the US to reduce shipping emissions to zero by 2050. It will require a "technological revolution".
Nordic carriers are positively attuned to the announcement from the White House to make the shipping sector CO2-free by 2050, believing it will change the IMO's agenda, while others are more hesitant. Drastic changes are required, they say.
The US wants the global shipping industry to reduce its CO2 emissions to zero by 2050, announces the country's special presidential envoy for climate, John Kerry. That target is considerably more ambitious than that of the IMO. See Kerry's plan here.
US President Joe Biden increases pressure on the shipping sector, which will be made greener. Specifically, he also sets a target of doubling US energy production from offshore wind by 2030. Read the full executive order here.
A planned large-scale US-based methanol facility, which has tanker operator Hafnia as a co-investor, has been rejected by environmental authorities. The reason cited is that greenhouse gas emissions would be "extremely large". Hafnia was set to transport some of the product to Asia. Updated.
Maersk CEO Søren Skou steps up in an attempt to alleviate the fierce criticism voiced by shippers and, most recently, US regulators about the pronounced logistics issues in a currently red-hot container market. He has, among other things, met with the FMC, one of the fiercest critics.
Tanker operators have reason to root for sitting US President Donald Trump, while the dry bulk and container lines should hope for Democrat Joe Biden to win when the US president election is decided on Tuesday, projects VesselsValue.
Maersk CEO Søren Skou understands to a certain degree why the US has launched a showdown with China, but he adds that he remains concerned about the growing protectionism. He does not believe that a presidential election will alter the countries' relationship, he tells Berlingske.
Iran's state-owned oil company and the country's biggest tanker operator have been blacklisted by the US. A series of companies have also been sanctioned for transporting Iranian oil to Venezuela.
A complaint from the US Government Accountability Office has made Wallenius Wilhelmsen "look at the alternatives" in a large billion-dollar contract the car carrier has signed with the US Department of Defense. The complaint concerns the role played by the Department of Defense.
Two areas for shipping will be affected in particular depending on who the Americans pick for their next president, says broker Clarksons Platou.
All signs indicate that the US retail industry will soon need to replenish its inventories following the coronavirus crisis. This is good news for the container lines, which are already sailing at the highest rates in a long time.
A panel of three trade experts from the World Trade Organization have just deemed the tariffs imposed by the Trump administration on Chinese goods in 2018 unjustified.
Associated Press reports that the US and EU have agreed to lift tariffs on a series of goods. The agreement will be effective for five years at first.
Over the past month, the US has seized four tankers and detained the oil cargoes aboard. Iran's oil minister now acknowledges that the oil was Iranian and headed to Venezuela.
The US has published a video which allegedly shows how Iranian naval forces boarded a tanker vessel in international waters in the Strait of Hormuz.
US pressure on the shipping sector to halt trading with Venezuela has made several classification bureaus terminate agreements with tanker vessels. Insurance companies and flag states are also tightening requirements.
The US increases its pressure on Venezuela and is now looking to halt the delivery of Iranian oil on board four tanker ships. It is, however, not yet clear where exactly this will happen.
Fear of sanctions mean that tanker ships carrying millions of tons of Venezuelan oil are unable to find buyers for their cargo, reports Reuters.
Two tankers have been blacklisted by the US, which accuses them of participating in a Mexican setup that has exported Venezuelan oil.
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