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 containers, vehicles, ro-ro traffic, and rail cargo, serving as a logistics hub linking Europe with Asia and Latin America. The project reflects China’s continued interest in expanding its presence in European ports despite growing political scrutiny and tighter EU regulations over foreign (especially Chinese) involvement in critical infrastructure.
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Alternative fuel boxship newbuild orders stall as focus shifts to feeder fleet replacement
Orders for dual‑fuel containerships have dropped sharply in 2026, with only 25% of new orders featuring dual‑fuel systems, down from 60% in early 2025. However, this decline reflects a shift in fleet strategy—not a retreat from decarbonization. Shipping companies are now focusing more on smaller feeder and regional vessels, where the high cost of dual‑fuel technology is harder to justify. Larger ships still adopt alternative fuels, but such projects are less common. Methanol‑fueled ship orders have fallen to zero in 2026, while LNG remains dominant due to its established infrastructure. Regulatory uncertainty and limited availability of green methanol are also delaying investment decisions. At the same time, companies continue retrofitting existing ships for alternative fuels, though future commitments may weaken due to high costs.
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Middle East crisis drags on global box volumes
The Middle East Gulf crisis remains the biggest negative factor, reducing global April container volumes by about 660,000 TEU (≈4%) and lowering 2026 YTD growth to 5.1% from over 6%. Despite this, the global market is resilient: carriers are rerouting cargo via Red Sea hubs and adapting networks quickly. North America imports rebounded (+6.2% year-on-year in April), driven by a strong recovery in transpacific trade, especially increased Chinese exports to the US. Asia–Europe trade remains strong, with year-to-date growth of 14.3% and continued demand momentum. Emerging routes (Asia–Africa, Asia–Latin America) are also growing rapidly. Freight rates are rising, especially on Middle East-related trades, reflecting disruption and capacity shifts.
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