World Maritime News

World Maritime News (81)

June 12, 2024

World Maritime News

China’s ports still lead performance rankings, while India’s move higher: CPPI China’s ports occupy seven of the top 20 rankings in the Container Port Performance Index (CPPI), including Yangshan, which has been the No. 1 port for two years. While the upper tier of global container ports mainly remained unchanged last year, the middle tier saw upheaval as ports at emerging export economies joined the ranks of top performers, according to the 2023 CPPI. Read more: JOC Terminal congestion s

World Maritime News (80)

May 29, 2024

World Maritime News

Carriers and shippers scramble amid worsening container shortages in Asia Shippers face worsening equipment shortages in China due to soaring export demand and disruption to long-haul and intra-Asia services caused by the ongoing vessel diversions around southern Africa. While the impact varies by carrier, forwarders say that Ningbo, Dalian, and Guangzhou are the worst-affected ports. Containers are also in short supply in Taiwan and Singapore. The source said longer transit times to Europe and

World Maritime News (79)

May 15, 2024

World Maritime News

Record boxship capacity already delivered in 2024 BIMCO’s chief shipping analyst Niels Rasmussen said more than 1m teu had been delivered in the first four months of 2024, representing a year-to-date record and an increase of 80% compared with the previous record. BIMCO expects delivery volumes to exceed 3m teu, 30% higher than the record set in 2023. Around 2m teu capacity is expected to be delivered in 2025, making it the third-highest year in deliveries, behind only 2023 and 2024. “When ship

World Maritime News (78)

May 01, 2024

World Maritime News

Panama Canal to increase transit slots and raise draught limits The Panama Canal Authority (ACP) is increasing booking slots and raising maximum draught levels as rainfall improves in the drought-stricken waterway. The number of bookable transits will drop slightly from 27 to 24 in the second week of May for scheduled maintenance before rising to 31 from 15 May. However, the number of slots for the neopanamax locks will remain unchanged at seven until 1 June, when they will rise to eight. That

World Maritime News (77)

April 17, 2024

World Maritime News

Baltimore preps for limited port reopening by end of April The Port of Baltimore is preparing workarounds to start handling containers and other ocean freight on a limited basis within the next four weeks ahead of a planned full reopening to vessel traffic by the end of May. The expedited reopening marks a rapid recovery for Baltimore following the vessel collision and bridge collapse that closed its main shipping channel early last week. Meanwhile, other ports along the US East Coast continue

World Maritime News (76)

April 03, 2024

World Maritime News

Developing nations still affected by supply chain disruptions Developed economies may be settling into the new geopolitical realities and disruptions affecting supply chains, but this is not always the case for less-developed countries. According to the UN Conference on Trade and Development, small island developing states are the most affected by disrupted supply chains, which will hold a forum in May to address the issues facing less-developed nations. Hosted by Barbados, the Global Supply Ch

World Maritime News (75)

March 19, 2024

World Maritime News

Gemini Cooperation is a closed club, says Habben Jansen The Gemini Cooperation will create a new network model for box shipping. It will provide better reliability, higher vessel utilization, and lower emissions and costs if it works. Gemini — the twins — emerged from a list of 1,000 names, according to Hapag-Lloyd chief executive Rolf Habben Jansen, and it is clear that there is no intention that the twins ever become triplets. When the Gemini Cooperation launches in 2025, it will bring about

World Maritime News (74)

March 06, 2024

World Maritime News

Managing transshipment hubs key to success of Gemini alliance: Drewry The success of the Gemini Cooperation alliance between Maersk and Hapag-Lloyd will hinge on their ability to manage huge container exchanges at hub ports and a dedicated fleet of large shuttle vessels running transshipment services, according to Drewry. The cornerstone of the new partnership will be the "hub-and-spoke" network the carriers believe will enable them to achieve schedule reliability above 90%, a level that has no

World Maritime News (73)

February 22, 2024

World Maritime News

Hutchison Ports sees structural changes ahead at its Hong Kong terminals The ports under Hong Kong-based terminal operator Hutchison Ports’ Hutchison Port Holdings (HPH) Trust turned in a poor performance for 2023, indicating big changes in the sector. Overall full-year throughput fell 6% to 21.3m teu while the trust’s collection of terminals in Hong Kong port grouped under HPH Kwai Tsing plunged 15% to 7.6m teu. Volumes at Hutchison Ports Yantian in the neighboring province in mainland China s

World Matime News (72)

February 07, 2024

World Maritime News

Almost all ultra-large box tonnage sailing around Cape of Good Hope Ultra-large box tonnage serving the Asia-Europe trade route is now sailing almost exclusively around the Cape of Good Hope in response to Houthi attacks in the Red Sea. Data from Lloyd's List Intelligence show Suez Canal transits by ultra-large containerships have also slowed to a mere trickle amid the exodus, which, in turn, has led to almost a complete rerouting of trade in little over a month. Since the turn of the year, the

World Maritime News (71)

January 24, 2024

World Maritime News

Maersk and Hapag-Lloyd to form new alliance Container shipping's alliances face another new shake-up with the announcement on 17 January of an agreement between Maersk and Hapag-Lloyd that will come into effect following the dissolution of the 2M agreement in 2025. Hapag-Lloyd and Maersk have signed an agreement for a new long-term operational agreement, the Gemini Cooperation, that will launch in February 2025. The operational cooperation will cover 26 mainlane services on seven trades, includ

World Maritime News (70)

January 10, 2024

World Maritime News

New action plan aims to reverse Hong Kong's maritime fortunes The Hong Kong government has formally unveiled its maritime industry revitalization strategy to reverse the city's decline in port throughput and shipping services. The so-called action plan, published by the Transport and Logistics Bureau, includes building green methanol bunkering infrastructure, enhancing port digitalization, and considers further tax relief for commodities trading and ship leasing. However, the long-standing indu