Congestion across the supply chain following the pandemic is currently eating up around 15 percent of the bulker industry, says CCO Vandita Pant at BHP. She predicts that the commodities market will remain strong, but sees no supercycle.
The OECD expects substantial growth in the global economy this year. Growth is expected to decrease in 2022. Bottlenecks in shipping and supply chain pressure have contributed to rising inflation
Biomethanol could be a transition fuel for Maerk's new vessels until the production of green methanol reaches a scale that enables it to satisfy the demand, said Maersk exec Berit Hinnemann during ShippingWatch's Decarbonizing Shipping conference.
Just now, dual-fuel is the golden buzzword for carriers ordering new large vessels, and it is equally significant for engine manufacturer MAN Energy Solutions. However, it isn't a viable solution for small and mid-sized product tanker vessels, says CEO of Hafnia Mikael Skov to ShippingWatch.
US maritime authority FMC continues investigations into eight container carriers for fees charged in relation to bottlenecks and delays. "I am particularly concerned by the proliferation of fees," says chair Daniel B. Maffei to ShippingWatch.
With a new proposal for the IMO's climate committee, the European Commission is kicking off a discussion that is still in its nascence: that carbon emissions from new alternative fuels need to be measured from the point of extraction or the start of production and include the entire value chain.
The recent hacker attack hasn't affected CMA CGM's operations according to the carrier. Customers have been notified on the leakage of data, CMA informs ShippingWatch.
By 2030 at the latest, Stena Line plans to deploy two electric ferries on the route between Sweden and Denmark. The ferries will be battery-driven, approximately 200 meters long and be able to fit 1,000-1,500 passengers.
Nothing seems to indicate that the crew change crisis is nearing a resolution, according to Bjørn Højgaard. He calls the treatment of seafarers "absolutely shameful".
Dry bulk vessel Clipper Como is heavily damaged after the collision off Turkey. The bow of the ship is under water, but there have been no casualties, reports the shipping company to ShippingWatch.
While import from the US dropped sharply, China's import of soybeans from Brazil surged markedly in August this year, according to Reuters.
The UK has eased its Covid-19 restrictions, prompting DFDS to expect more passengers on the English Channel. However, passenger traffic will normalize in 2023 at the earliest, reports DFDS.
There are no signs that the congestion issues affecting major container ports near Los Angeles and Long Beach are on the verge of resolution. On a global level, the time spent in port for vessels has increased by 11 percent in the last six months, according to analyst firm.
MSC has placed a bid for Brazilian carrier Log-In Logistica, with the aim of taking over 67 percent of its shares.
CMA CGM has been hit by another cyberattack, resulting in a "data leak of limited customer information", informs the French carrier. A year ago, hackers brought down CMA CGM's website.
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The overheated container market is driven solely by unprecedented demand and not collusion between carriers, conclude authorities in the US, China and the EU, according to media.
Covid-19 has divided the shipping world in two. Asia is still inaccessible when it comes to crew changes, while the situation is all but normal in Europe and the US, report Hapag-Lloyd captains. Seafarers were trapped on board vessels for months on end.
Maersk won't be the only carrier to announce an upgrade due to a red-hot container market fueled by sky-high rates and massive demand. Others will raise their expectations as well, according to SEB Enskilda and Sydbank.
The large bottlenecks across the container market continue to grow day by day, with 141 vessels currently waiting in line off ports in China and the US, show new figures from VesselsValue.
LNG must be eliminated from the list of future alternative fuels, FuelEU, says the spokesman of green parties in the European Parliament, Michael Bloss, to ShippingWatch. Further, ETS must be much more ambitious.
Two of the largest dry bulk carriers on the Oslo Stock Exchange have raised their share value by more than 150 percent due to 2021's extraordinary market conditions.
Chinese Cosco has reached a settlement with furniture group MCS Industries in the complaint cause where the carrier stands accused of colluding with MSC and manipulating pricing in the container market. MSC is not a part of the settlement, the carrier informs ShippingWatch.
As one of the major US importers, Ikea shares part of the responsibility for carbons emissions from the container fleet, as established by a recent report. Sea freight is important for our carbon plans, Ikea tells ShippingWatch.
Maersk CEO Søren Skou expects a strong market for the rest of the year while noting the "absurd" level of container vessels waiting off Port of Los Angeles.
Daily rates for shortsea sailings in Europe have risen so far in 2021, writes shipbroker Toepfer in an update.
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