World Maritime News

World Maritime News (127)

June 10, 2026

Cosco Shipping Ports to win Tarragona terminal concession in first European expansion for years Cosco Shipping Ports (CSP) has received approval for a 50-year concession to develop and operate a multipurpose terminal at Spain’s Port of Tarragona—its first new investment in a European port in over three years. The $168m project will be run by a Chinese-led joint venture and is expected to start operations later this year, reaching a capacity of 680,000 TEU by 2028. The terminal will handle conta

World Maritime News (126)

May 27, 2026

Regulation experts see murky waters ahead for NZF talks Outlook for the IMO’s Net-Zero Framework (NZF) remains uncertain following MEPC84, with experts divided on its prospects. While the NZF has not been dismissed, its adoption “as is” appears unlikely due to continued disagreement, particularly over carbon pricing. The US strongly opposes economic measures that leave key elements, such as the Net-Zero Fund, effectively stalled. Despite this, a majority of countries (about 59) support using th

World Maritime News (125)

May 13, 2026

Anti-NZF states keep their horse in the race Opposition to the IMO’s Net-Zero Framework (NZF) succeeded in keeping alternative proposals under discussion by prolonging procedural debates. Countries such as Saudi Arabia, the US, and Liberia pushed for continued consideration of a weaker, fossil fuel-based alternative, while progressive states preferred focusing solely on advancing the NZF. As a result, no clear agreement was reached at MEPC84, and further intersessional meetings were scheduled,

World Maritime News (124)

April 29, 2026

Indonesia walks back proposal of Malacca Strait toll Indonesia’s finance minister briefly suggested charging tolls on ships transiting the Strait of Malacca, inspired by Iran’s actions in the Strait of Hormuz, but quickly retracted the idea as impractical. The comments came amid rising global concern over maritime security following Iran’s seizure of vessels in Hormuz. Malaysia and Singapore firmly rejected any toll proposal, stressing that free transit through the Malacca Strait is guaranteed

World Maritime News (123)

April 15, 2026

Brief Gulf shutdown manageable, but year‑long closure would upend global LNG flows, says think tank According to the report from the Oxford Institute for Energy Studies (OIES), the duration of a potential shutdown in the Strait of Hormuz will be the deciding factor for the global energy landscape. A short disruption of LNG exports from the Middle East Gulf would be manageable for global markets, with limited price impact. However, a shutdown lasting six months to a year—such as a prolonged clos

World Maritime News (122)

April 01, 2026

IMO's green rankings are a fight for fuel market share The IMO's work on carbon-intensity rankings for marine fuels, while presented as a technical climate-policy exercise, is, in reality, a battle over future fuel market share. Small differences in assigned emission factors—especially for LNG—can lead to major financial consequences for shipowners, including compliance issues or multi-million-dollar penalties. As a result, countries with fuels to sell are pushing for classifications that favor

World Maritime News (121)

March 18, 2026

Customs ordered to refund $166bn in tariffs but it can’t comply (yet) After the U.S. Supreme Court ruled that IEEPA tariffs were illegal, CBP is now required to refund $166 billion to importers, but currently lacks the systems and manpower to comply. The agency is working to deploy new electronic refund capabilities within 45 days, while the court warns that delays could result in massive interest costs by year‑end. Meanwhile, the Trump administration’s fallback measure—a global 10% tariff unde

World Maritime News (120)

March 04, 2026

ETFuels inks first binding e-methanol offtake deal with RFOcean ETFuels has secured its first binding 10‑year e‑methanol offtake agreement with chemical tanker owner RFOcean, starting in 2030. The deal is driven by the FuelEU Maritime regulation, which will require ships to use more alternative fuels from 2030. ETFuels plans to produce green methanol at its Rattlesnake Gap wind project in Texas and claims strong cost advantages from U.S. tax credits and favorable wind resources. The company’s

World Maritime News (119)

February 18, 2026

HMM joins Maersk in flagging boxship glut risk HMM warned of a rising risk of container ship oversupply after its 2025 earnings dropped sharply. Revenue and profits fell significantly due to weakening freight rates, echoing concerns raised by Maersk and Hapag-Lloyd. The global container ship orderbook has reached a 15‑year high, accounting for about 36% of the fleet, raising fears that supply will outstrip demand. Although deliveries will slow in 2026, a new wave is expected to begin in 2027. F

World Maritime News (118)

February 04, 2026

EU set to ringfence €10bn ETS revenue for maritime decarbonization The EU plans to ringfence around €10 billion in annual ETS revenues from the maritime sector by 2030 exclusively for maritime decarbonization projects. This will be formalized in the upcoming EU Industrial Maritime Strategy. The move responds to long‑standing industry demands and aims to ensure that shipping receives dedicated funding for clean technologies. However, the final design may change depending on discussions under the

World Maritime News (117)

January 21, 2026

PSA International handles 105m teu globally in 2025 PSA International achieved a record global container throughput of 105 million TEU in 2025, a 5% increase from 2024 when it first exceeded 100 million TEU. The Singapore terminal handled 44.5 million TEU, up 8%, setting a new record and accounting for nearly all of Singapore's throughput. Its overseas terminals processed 60.5 million TEU, a 2% rise. Chairman Peter Voser noted that despite geopolitical and economic challenges, the results were

World Maritime News (116)

January 07, 2026

Regulation: Net-Zero Framework faces long odds The IMO’s Net-Zero Framework (NZF) for a global carbon price on shipping emissions faces significant hurdles. Strong opposition from the U.S. under Trump and lobbying by oil-producing nations make approval unlikely. The next MEPC meeting in spring 2026 may clarify the path forward, but the regulation could be watered down or remain stalled. Meanwhile, the EU will keep its ETS and FuelEU Maritime rules in place until the IMO’s outcome is clear. Ship