World Maritime News

November 24, 2021

Outlook for freight rate, supply chain crisis, and US demand for goods Freight rates may be beginning to come off the boil on some trade lanes, but there are warnings that any relief will be relative and that a return to sustainable rates is still some time off. According to Sea-Intelligence chief executive Alan Murphy, to get back to the rate levels seen between 1998-2014 would require a 69% fall from where they are now. Container lines and their largest import customers are beginning trans-P

World Maritime News (21)

November 10, 2021

World Maritime News

Ports of Los Angeles and Long Beach charge for lingering containers Ports of Long Beach and Los Angeles impose financial penalties on ocean carriers for import containers that dwell too long at marine terminals. They began charging $100-a-day from 1 November for containers that remain nine days or more on a marine terminal if they are scheduled to move by truck and six days or more if moving by rail.But the ports will not begin assessing the penalties until at least 15 November. The ports mak

World Maritime News (20)

October 27, 2021

World Maritime News

Recovery from supply chain disruption requires effective and coordinated actions by port stakeholders. The White House’s intervention to resolve port bottlenecks in Southern California faces steep challenges that will require coordinated action from terminals, truckers, and distribution centers effectively acting as an integrated system. Terminal operators in Los Angeles–Long Beach said 24/7 gate hours were not feasible until retailers and truckers made better use of the each weekday that was

World Maritime News (19)

October 12, 2021

World Maritime News

Changing trend of increasing container spot rates Early October, a dramatic decline in eastbound trans-Pacific spot rates was seen as a temporary relief for US importers caused by production cutbacks in China and a continuous influx of new capacity of chartered ships. Some containerized freight indices show signs that the period of rapid freight rate gains may end. For example, the Shanghai Shipping Exchange figures showed little change in freight rates a week ago, with the Shanghai Containeri

World Maritime News (18)

September 29, 2021

World Maritime News

Regulators’ close watch on supply chain crisis and rate freezes implemented by shipping lines European, US, and Chinese regulatory authorities attended the virtual meeting to address the global supply chain crisis. In a joint statement following the meeting, they focused on sectoral developments since the start of the pandemic, including an analysis of supply and demand and identification of bottlenecks in the ocean-linked supply chain and the cause of service disruptions. They also looked at a

World Maritime News (17)

September 15, 2021

World Maritime News

Green shipping Groups sees methanol bet as a step in the right direction Green Shipping advocates have praised Maersk’s decision to opt for methanol-fueled ships, saying that the fuel has significant advantages over its rivals. On the other hand, classification societies have warned it will be hard for Maersk and other methanol adopters to source enough renewable supply, which is key to making the fuel carbon-neutral. To get enough renewable methanol to run its eight new container ships, Maers

World Maritime News (16)

September 02, 2021

World Maritime News

Supply chain disruption is expected to continue The sheer level of the demand pushed the container supply chain to its limit. Carriers were unable to address an equipment shortage, ports became clogged and terminal inefficiencies were laid bare. Coronavirus-related restrictions on staffing, meanwhile, did little to ease the logistical logjam that had unfurled globally. And the congestion chaos is still far from being resolved nearly 12 months on. Container lines are struggling to inject a huge

World Maritime News (15)

July 29, 2021

World Maritime News

EU Proposes tax on all shipping emissions and to limit polluting fuels The European Commission has unveiled its plan to tax almost 70% of emissions from voyages to the European Economic Area. It also wants ships to burn less greenhouse gas-intensive fuels, some bunkers to be taxed for the first time, and ports to provide more LNG and onshore power supply. Maersk supports the phased-in approach of the EU emissions trading system. However, other shipping groups repeated their warning that extend

World Maritime News (14)

July 15, 2021

World Maritime News

High Container Freight Rate Contract containerized freight rates have witnessed an “astronomical” hike in the first six months of this year and are expected to remain elevated for at least the medium term. Strong demand in the US and Europe continued to be the main driver of rates performance. Port congestion and equipment shortage remain contributing factors. Carriers’ efforts to increase their fleets would not bear fruit until 2023-2024. The high freight rates of the main lines pushed up the

World Maritime News (13)

July 01, 2021

World Maritime News

IMO adopts new emissions measures IMO Marin Environment Protection Committee has adopted operational and technical efficiency requirements for international shipping, which will come into effect in November 2022, but begin applying in 2023. One of the core elements of this package measures is the Energy Efficiency Index for Existing Ships, which will force existing vessels to improve their efficiency on par with newbuilds that are already bound by such requirements. The other key measure of th

World Maritime News (12)

June 10, 2021

World Maritime News

No easy recovery ahead for container shipping The container shipping market is suffering from spot rates vastly exceeding any previous records and atrocious schedule reliability. The newest data from Sea-Intelligence Maritime Consulting show that despite improvements, 78 percent of vessels arriving at US West Coast ports are late, with an average delay of 10 days. Aside from the pandemic itself, there is not a single root cause of these maladies. The situation is one of intertwined bottleneck

World Maritime News (11)

May 27, 2021

World Maritime News

IEA Special Report: Pathway to critical and formidable goal of net-zero emissions by 2050 is narrow but brings huge benefits World’s first comprehensive energy roadmap shows government actions to rapidly boost clean energy and reduce fossil fuel use can create millions of jobs, lift economic growth and keep net zero in reach. The world has a viable pathway to building a global energy sector with net-zero emissions in 2050, but it is narrow and requires an unprecedented transformation of how en