US imports to remain ‘well below’ 2022 levels most of the year
According to the latest Global Port Tracker report by the National Retail Federation and Hackett Associates, US import volumes are expected to continue climbing throughout the summer. But they will remain far below last year’s record levels. Revising previous projections, the report forecasts imports to the US’s 12 largest ports in the first half of the year to total 10.4m teu, down from earlier projections of 10.8m teu and 22.8% below the record first half of last year.
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Asia-Med container volumes hit four-year high in March: CTS
Containerized imports from Asia to the Mediterranean in March shrugged off Europe’s economic woes to post their highest volume since January 2019, according to the latest Container Trades Statistics (CTS) figures. Volume from Asia to the Mediterranean surged 22% year over year in March to 568,000 TEUs. In addition, sea-Intelligence Maritime Analysis data show that offered capacity during the month shot up by 166,000 TEUs to 613,111 TEUs as carriers reinstated sailings blanked in February.
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Ocean carriers face two years of excess vessel capacity: Hapag-Lloyd CEO
The first signs of improving demand on the major east-west trades could be seen toward the end of the first quarter. However, that does not signal the beginning of a market recovery for container shipping, according to Hapag-Lloyd CEO Rolf Habben Jansen. He told analysts that supply would outstrip demand for the next two years, while improved utilization of capacity and the dropping of unprofitable services will be crucial for navigating the weak volume growth through 2023. “Most of the growth in the remainder of the year needs to come from better asset utilization, as utilization was under pressure in Q1,” He said.
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FMC complaint refunds surpass $1m
Over $1m have been refunded or waived through the Federal Maritime Commission’s charge complaint process, the US maritime regulator said in a statement. The FMC was instructed under the Ocean Shipping Reform Act of 2022 to simplify the process by which shippers, consignees, truckers, and third parties can dispute charges like detention and demurrage that common carriers may have wrongly assessed. A simplified process was necessary to cope with the mounting charges assessed and disputed during the pandemic supply chain crises. The FMC hailed the process as a success in January, saying that more than 200 complaints have been filed with the commission, resulting in more than $700,000 being refunded. The $1m milestone was reached on May 1, a little over ten months after OSRA was signed into law.
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Germany greenlights Cosco investment in Hamburg despite security concerns
The German government has approved state-owned Cosco’s acquisition of a 24.9% stake in a terminal of Hamburg port despite concerns over national security. The decision allows Cosco Shipping Ports, a Hong Kong-listed subsidiary of the Chinese conglomerate, to buy a minority shareholding in Container Terminal Tollerort (CTT) from Hamburger Hafen und Logistik (HHLA). HHLA said it “welcomes the decision of the German government,” which enables CTT to be a preferred handling location for Cosco. China is the largest trading partner of Germany and the port of Hamburg, with around 30% of the goods handled in the port coming from or going to China, according to HHLA.
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LNG and methanol vessel orders were picked up in April
LNG and methanol remain the most popular alternative fuel choices among shipping companies ordering new vessels, while concerns remain around the supply availability of green methanol. However, alternative fuel vessel orders rebounded in April as more companies ordered methanol and liquefied natural gas dual-fuel ships compared with a month earlier, according to DNV’s monthly analysis.
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Maersk’s first methanol vessel to secure green fuel in early 2024
Maersk made a supply agreement with European Energy for up to 300,000 tonnes of green methanol from 2025/2026 as part of efforts to secure bunker fuel for the order of 19 dual-fuel methanol vessels. Maersk’s first green methanol supplier European Energy will start operations at its Danish facility at the beginning of 2024 to supply the liner giant’s first methanol dual-fuel vessel, which is set for summer delivery.
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CEVA Logistics shifts into vessel operations with ro-ro new buildings
CMA CGM acquired Russian finished vehicle logistics company GEFCO in May 2022 and rebranded it as CEVA Logistics last January, forming a finished vehicle logistics division. CEVA Logistics is assessing routing options for four new dual-fuel hybrid roll-on/roll-off (ro-ro) vessels that will be delivered beginning late this year. The four vessels will enable the Marseille-based freight forwarder to transport approximately 140,000 vehicles annually between global markets, especially China and Europe, it said. Rival ro-ro operators gave mixed views about CEVA’s shift into vessel operations.
Read more: JOC
