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Saturday, May 18, 2024

Container Shipping News

14 May 2024

US Tariffs Expected to Cause Supply Chain Disruption

Source: Xeneta

Global supply chains are braced for further disruption and increasing costs after US President Joe Biden announced new tariffs on Chinese imports on Tuesday.The tariffs will be imposed on a wide range of Chinese imports including semi-conductors, batteries, EVs and solar cells, with the changes staggered to come into effect between 2024 and 2026.Peter Sand, Chief Analyst at Xeneta, said: “The new tariffs under President Biden may be a case of history repeating. If so, businesses…

02 May 2024

Long Term Rates Edge Up Globally as Red Sea Conflict Continues

© STOCKSTUDIO / Adobe Stock

Ocean freight container carriers are treading a fine line between risk and reward during new contract negotiations as the market remains gripped by uncertainty in the Red Sea, according to new data on the Xeneta Shipping Index (XSI®).The latest data released by Xeneta on May 2 shows the Global XSI (the average rate of all valid long term contracts in the market) remained fairly flat in April at 154.3 points, up by just 1.7% from March.However, looking at sub-indices within this global figure reveals a dynamic market…

28 Apr 2024

Nigeria Secures $600 Million Maersk Port Infrastructure Investment

© aerial-drone / Adobe Stock

Nigeria secured a $600 million investment in seaport infrastructure from Danish shipping company A.P. Moller-Maersk, the presidency said in a statement on Sunday.The investment was secured during a meeting between President Bola Tinubu and Moller-Maersk Chairman Robert Maersk Uggla on the sidelines of a World Economic Forum meeting in Saudi Arabia."We believe in Nigeria, and we will invest $600 million in existing facilities and make the ports accommodating for bigger ships," the Nigerian presidency quoted Uggla as saying during the meeting.Nigeria has promised to revamp its ports…

24 Apr 2024

ClassNK Releases Route Correction Factors Calculation Tool

Source: ClassNK

ClassNK has released a new tool, WAve Climate Data Aggregation for Ships (WACDAS), for calculating the route correction factors essential for ensuring the safety of container lashing and supporting container stacking optimization.The move follows ClassNK’s release of its Guidelines for Container Stowage and Securing Arrangements (Edition 3.0) last year. WACDAS enables the easy calculation of route correction factors necessary for utilizing the approved lashing software compatible…

24 Apr 2024

Maersk Mulls Baltimore Barge Service

Copyright pedisuk/AdobeStock

Maersk may resume some shipping services at the Port of Baltimore when a temporary channel is opened to give access for commercially essential vessels that remain blocked by a collapsed bridge, the company said."This channel, with a controlling depth of 20 feet, could potentially allow Maersk and other carriers to operate limited barge services into and out of the Port of Baltimore," Maersk said in a statement.The group last Wednesday said the port's alternate shipping channels…

18 Apr 2024

ONE Launches Green Shipping Solution ONE LEAF+

Source: ONE

Ocean Network Express (ONE) has launched a reduced emissions shipping service ONE LEAF+ which offers customers the opportunity to proactively manage their own emissions and minimize environmental impact across the value chain.ONE LEAF+ offers:• Reduced Carbon Footprint: ONE will deploy regulation-compliant alternative fuels on designated vessels, allowing customers to reduce Scope 3 GHG emissions on their shipments with ONE.• Added Transparency: With ONE LEAF+, customers will…

17 Apr 2024

ILL EFFECTS: COVID Wiped 24.6m TEU off Container Market Growth

Chart courtesy BIMCO

“Due to the COVID-19 pandemic, the global container market grew only 1.5% from 171.0 million TEU in 2019 to 173.5 million TEU in 2023. Without the pandemic, that figure would have been 24.6 million higher, landing at 198.1 million in 2023,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.During the past four years, the container market has faced not only lower than expected growth in the global economy, but the ratio of market growth vs economic growth, the so-called GDP multiplier…

14 Apr 2024

Updated Version of Guidelines for Cleaning Containers Released

© Travel mania / Adobe Stock

Every year, 250 million containers are transported across the world with food, clothes, electronics and other goods. While crucial for the smooth functioning of the global supply chain, containers and their cargoes can also harbour and transfer contaminating pests.All parties in the supply chain have a shared responsibility for stopping the spread of pests by keeping cargo and containers clean, and the Prevention of Pest Contamination of Containers: Joint Industry Guidelines for…

08 Apr 2024

Xeneta: Baltimore Bridge Collapse has not Triggered Increase in Shipping Rates

Source: Xeneta

The collapse of the Francis Scott Key Bridge in Baltimore has caused supply chain disruption on the US East Coast but, so far, it has not seen an increase in ocean freight container shipping rates.Data released Monday by Xeneta reveals average spot rates from the Far East into the US North East Coast (including Baltimore) have fallen slightly (-1%) since the bridge collapse on March 26 to stand at USD 5,421 per FEU (40ft shipping container).When including other US East Coast ports such as New York / New Jersey…

02 Apr 2024

Van Oord Duo Dredging in the Prinses Amaliahaven in Rotterdam

Source: Van Oord

Van Oord’s cutter suction dredger Biesbosch and trailing suction hopper dredger Vox Apolonia are teaming up to dredge the Prinses Amaliahaven located on Maasvlakte in Rotterdam, the Netherlands.A consortium of Van Oord, HOCHTIEF and Ballast Nedam has constructed 2.4 kilometres of new quay wall. The new quays are being dredged to a depth of more than 20 metres below sea level. This development means that the Port of Rotterdam Authority is ensuring an expansion of container capacity in Rotterdam.In total 1…

01 Apr 2024

ONE Announces New Transpacific Service from February 2025

© Björn Wylezich / Adobe Stock

Ocean Network Express (ONE) has announced its Transpacific service starting from February 2025 which will deploy 16 core weekly services.“The emphasis will be on quality end-to-end direct services with high schedule reliability.

27 Mar 2024

Baltimore Rescuers Lose Hope for More Survivors from Bridge Collapse

Satellite image ©2024 Maxar Technologies

Rescuers have lost hope of finding more survivors of the Baltimore bridge collapse, the coast guard said, as efforts switched on Wednesday to looking for bodies of the missing and more answers to why a container ship smashed into the span.Search divers were expected to return near dawn to the waters surrounding the twisted ruins of the bridge in Baltimore Harbor to search for six workers missing and now presumed dead.The disaster has forced the indefinite closure of the Port of Baltimore, one of the busiest on the U.S.

27 Mar 2024

Divers to Search Baltimore Harbor

Search divers were expected to return near dawn on Wednesday to the waters surrounding the twisted ruins of a bridge knocked down in Baltimore Harbor by a faltering cargo ship, leaving six workers missing and presumed dead.The disaster also forced the indefinite closure of the Port of Baltimore, one of the busiest on the U.S. Eastern Seaboard, and created a traffic quagmire for Baltimore and the surrounding region.As the odds of their survival vanished, the search for the six workers was suspended on Tuesday evening…

21 Mar 2024

Red Sea Attacks Temporarily Increase Demand for Ships

© Yellow Boat / Adobe Stock

The BIMCO Container Shipping Market Overview & Outlook for March 2024 has been published, and Niels Rasmussen, BIMCO’s Chief Shipping Analyst, highlights that ship supply is expected to grow on average 9.1% in 2024 and 4.1% in 2025.Rerouting via Cape of Good Hope is assumed to impact the first half of 2024. Ship demand increases an estimated 9.5% in 2024 and falls 0.5% in 2025. The supply/demand balance is expected to tighten in the first half of 2024 but then weaken when ships can return to the Suez Canal routing.According to the IMF…

20 Mar 2024

Ten Organizations Team Up on Guidelines for Combating Illegal Wildlife Trafficking

© 2630ben / Adobe Stock

Ten organizations have joined forces to combat illegal wildlife trafficking through increasing awareness and vigilance across global supply chains.Together, they have produced practical guidelines for all supply chain participants, with advice on measures to take, questions to ask to help identify criminal wildlife trade, and guidance on reporting suspicious activities. An accompanying "Red Flags" document serves as a daily reference for all individuals involved in the supply chain.

17 Mar 2024

Mexico Could be Back Door for Chinese Imports into US

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Growth in demand for container shipping imports from China into Mexico in January 2024 increased by 60% compared to 12 months ago, further fuelling suspicions it has become a back door into the US.According to analysts at Xeneta, 117,000 TEU was shipped in January of this year compared to 73,000 TEU in January 2023 (source: Container Trades Statistics).Annual growth in container shipping between China and Mexico had already increased by 34.8% in 2023 compared to just 3.5% in 2022.Peter Sand…

14 Mar 2024

Hapag-Lloyd to Seek Cost Cuts After Net Profit Slump

© olrat / Adobe Stock

German container shipper Hapag-Lloyd said on Thursday the global oversupply of container ships and a crisis in the Red Sea will force it to cut costs in 2024, adapting sailings and ports following a bruising 83% fall in net profit.Ship operators face prolonged disruption while Yemen-based Houthi militants are attacking vessels travelling on one of the world's busiest routes, wiping out the benefit from higher freight rates with costly redirections around Africa.Hapag-Lloyd's problems chime with those of competitors such as Maersk and CMA CGM, exacerbated by the arrival of additional ships orde

13 Mar 2024

Ships Above 12,000 TEU Drive 100% Increase in Average Ship Size

Source: BIMCO

Since 2006, the average container ship has doubled in size to 4,580 TEU and ships with a capacity of more than 12,000 TEU has accounted for 51% of the fleet’s capacity expansion. Today, just 626 ships provide 36% of the fleet’s capacity, and the trend is set to continue as the large ships dominate the order book, says Niels Rasmussen, Chief Shipping Analyst at BIMCO.When the Emma Maersk was delivered in August 2006, the ship was by far the largest container ship in the world. It is 400 metres long, 56 metres wide and has a capacity of about 17,800 (14,000 TEU when delivered).

13 Mar 2024

Zim Reports Fourth Quarter Loss

© Dmitry Pistrov / Adobe Stock

ZIM Integrated Shipping Services has announced consolidated results for the three and 12 months ended December 31, 2023, noting a net loss for the fourth quarter of $147 million (compared to a net profit of $417 million in the fourth quarter of 2022).The net loss for the full year, including a $2.06 billion non-cash impairment loss, was $2.69 billion (compared to a net profit of $4.63 billion for the full year of 2022).Adjusted EBITDA for the fourth quarter was $190 million, a year-over-year decrease of 80%.

11 Mar 2024

ONE Establishes New Headquarters in Dubai

Sundeep Sibal courtesy of ONE.

Ocean Network Express (ONE) has opened a West Asia Regional Headquarters in Dubai. The move aims to expand ONE's growth in the rapidly developing markets of the Indian Subcontinent, Middle East and East Africa.The West Asia Regional Headquarters office will serve as ONE’s central hub across the region, encompassing functions such as commercial activities, customer service, and digitization. It will also house a team dedicated to developing regional trade partnerships and exploring…

11 Mar 2024

Yard Starts World’s First Container Vessel Methanol Dual Fuel Retrofit

Source: Zhoushan Xinya Shipyard

Zhoushan Xinya Shipyard held a steel cutting ceremony on March 8, 2024 for the 14,000 TEU Maersk Halifax methanol dual fuel retrofit project, marking what will be the world's first container vessel methanol dual fuel retrofit.Representatives from Maersk project team, ABS, and headquarters leaders and employees of the company attended the ceremony.The vessel is scheduled to arrive in early July this year and will undergo conversion and repair for a period of about three months. To ensure the smooth implementation of the project, the yard has built a 500-ton gantry crane overhead the No.3 dock.

04 Mar 2024

Victoria International Container Terminal Phase 3A Expansion Completed

Source: ICTSI

Victoria International Container Terminal (VICT), ICTSI’s operations at the Port of Melbourne in Australia, recently completed Phase 3A of its expansion project.VICT can now accommodate neo-Panamax container ships, the largest container vessels calling Australia. The ships can now sail directly into Port Phillip and dock at VICT – the only terminal in Melbourne capable of receiving them. It is also the only fully-automated container terminal in the southern hemisphere.The AUD235 million expansion project is being carried out in two phases.

27 Feb 2024

FMC Updates Controlled Carrier List

Source: Hede (HONGKONG) International Shipping Limited

Hede (HONGKONG) International Shipping Limited has been classified by the US Federal Maritime Commission as a controlled carrier of the Government of the People’s Republic of China and added to the agency’s Controlled Carrier List.The Controlled Carrier List was further revised by removing COSCO Shipping Lines (Europe) GmbH, which has ceased serving the US trades and has cancelled its tariff. Other COSCO entities remain on the list.Controlled Carriers are ocean common carriers operating in the US-foreign trades that are…