World Maritime News

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

World Maritime News (10)

May 13, 2021

World Maritime News

Asian container ports most efficient globally: World Bank, IHS Markit Index Asian container ports have been the most efficient during a prolonged surge of exports that has fed Western economies and challenged their ports, according to a new index launched by the World Bank andIHS Markit on 5 May. East Asian ports specifically dominate the Container Port Performance Index, which is based on the total port hours per ship call, cross-referenced with workload achieved. Yokohama leads the index, fo

World Maritime News (9)

April 28, 2021

World Maritime News

Container equipment shortages push up container prices Container equipment shortages across the main trade lanes look set to continue, despite efforts by carriers to reposition and bring additional capacity into the market. The heavy demand for containerized shipping and the difficulties of handling such huge volumes, means the current equipment imbalance can be expected to deteriorate, predicted CEO and founder of Container xChange. The price was being driven by the urgent demand for equipmen

World Maritime News (8)

April 15, 2021

World Maritime News

Asia-US trade surge pulls down North American port productivity For North America (the US and Western Canada), current volume has consistently been running above the prior years throughout the last six months. It is worthy to note that containers imported from Asia since October have generally been declining. The port was running short-handed because of the pandemic and the port’s capacity was effectively reduced. Once a port gets behind, it becomes exponentially harder to catch up. Now, even

World Maritime News (7)

April 01, 2021

World Maritime News

Ports prepare for Suez surge Ever Given(Flag Panama Built 2018 20,388TEU GRT 220,940)land around 0540 GMT 24 March 6NM north of the south entrance of the Suez Canal and refloated 29 March and Suez Canal Authority (SCA) chairman Osama Rabie told reporters that 113 ships were expected to transit the canal in both directions by early morning 30 March. Attention is now turning to the surge of imports that are due to arrive at Europe’s shores as vessels begin to transit the canal. Terminals will ex

World Maritime News (6)

March 18, 2021

World Maritime News

Biden’s U$ 1.9trn stimulus package will boost trade to US despite sky-high rates US imports from Asia in February jumped 27.3 percent year over year to register a seventh consecutive month of double-digit growth with no signs of slowing. The U$ 1.9 trillion stimulus package which includes one-time direct payments of up to U$ 1400 per person and jobless aid of U$ 300 a week will deliver another shot in the arm for consumer demand. Global Port Tracker, published monthly by the National Retail Fe

World Maritime News (5)

March 04, 2021

World Maritime News

Panama Canal raises slot booking prices Increasing demand for Panama Canal transits has encouraged the Panama Canal Authority (ACP) to raise its reservation and service fees. From 15 April, booking reservation slots will rise from between U$ 10,500 and U$ 50,000 for the panamax locks and U$ 70,000-U$ 85,000 for the largest vessels. The transit reservation system is an optional service offered by the ACP That gives customers the ability to transit on a specific date through the payment of an ad

World Maritime News (4)

February 18, 2021

World Maritime News

Global container trade volume 2020 Global container traffic in 2020 came in just 1.2% lower than in the previous 12 months despite the upheaval of the pandemic, the latest figures from Container Trades Statistics shows with 168.2 million teu in 2020 compared with around 170 million teu in 2019. Transpacific trade was a rise of 7.3% at 20.1 million, while Asia-Europe trade saw the annual total of 15.8 million teu falling short by 5.5% on the previous year. Read more:Lloyd’s List Several E