Foot Equivalent Unit News

Maritime transport carries close to 90 percent of global trade by volume, and container ports alone handle more than 80 percent of non-bulk merchandise. Today, these ports are undergoing a profound transformation, driven by rising trade flows, rapid advances in technology, and mounting pressure to meet climate targets.Against this backdrop, DNV and Menon Economics have introduced the industry’s first global container port ranking. The LCP report benchmarks 160 ports against 35 indicators grouped into five pillars: enablers…

The U.S. is one week away from imposing port fees on certain vessels with links to China, a move expected to cost the top 10 carriers $3.2 billion next year as President Donald Trump seeks to address China's growing dominance on the high seas."While some observers believe the October 14 deadline may be extended - or even scrapped - as part of broader negotiations, the uncertainty has already unsettled carriers, adding another layer of geopolitical risk to fleet deployment strategies…

The U.S. is one week away from imposing port fees on certain vessels with links to China, a move expected to cost the top 10 carriers $3.2 billion next year as President Donald Trump seeks to address China's growing dominance on the high seas."While some observers believe the October 14 deadline may be extended — or even scrapped — as part of broader negotiations, the uncertainty has already unsettled carriers, adding another layer of geopolitical risk to fleet deployment strategies…

Japan's Tsuneishi Shipbuilding said the Tsuneishi Group (Zhoushan) Shipbuilding Inc. - its shipbuidling factory in China -  has completed the first block loading for its first Methanol-Fueled 5,900-TEU Type Container Carrier earlier this month.The 5,900-EU type container carrier is the largest container carrier built by Tsuneishi Shipbuidling Group. This vessel has a maximum capacity of 5,915 20-foot-equivalent-unit containers in the hold and on deck, and up to 1,400 reefer containers can also be loaded in response to increased demand in recent years.

The last 12 months has seen values rise to near-record levels across several sectors of the shipping industry, fuelled by the post-covid shipping boom and a strong newbuild market.The report states that the newbuild market experienced continued growth, with a notable rise in orders, particularly in the Post/Panamax and Capesize sectors. Chinese dominance in both ordering and shipyard production remains a defining trend, further consolidating their position in the bulker industry.Container…

MacGregor, part of Cargotec, launched a new free digital Carbon Calculator to help container shipping companies estimate the carbon dioxide emissions they can eliminate by upgrading their onboard container cargo system with MacGregor Cargo Boost.By maximizing container-carrying capacity on board existing ships, the Cargo Boost solution has been shown to increase average cargo system utilization from conventional rates of 80% to 90%, or even 100%. Across a 10-vessel fleet this can increase capacity by the equivalent of an additional ship.

German container firm Hapag-Lloyd on Wednesday raised the lower end of its 2024 outlook amid rising demand and freight rates, but posted an 84% drop in first-quarter net profit.Commercial shipping has faced global disruptions, including in the Red Sea region, where operators are avoiding the Suez Canal because of attacks on vessels by Yemen-based Houthi militants.The crisis has raised freight rates because alternative trips around Africa's southern tip are longer and expensive."Global container volumes were up quite significantly especially in January and February…

Unifeeder Group announced it has completed a long-term charter agreement for two additional methanol-capable container feeder vessels. This follows the agreement for two initial vessels announced in October 2023. The latest agreement is in partnership with German-based ship owning group Elbdeich Reederei and Norwegian shipowner MPC Container Ships (MPCC), who are responsible for one vessel each. The 1,250 twenty-foot equivalent unit (TEU) vessels, scheduled for delivery in 2026…

Toymaker Basic Fun's team that oversees ocean shipments of Tonka trucks and Care Bears for Walmart and other retailers is racing to reroute cargo away from the Suez Canal following militant attacks on vessels in the Red Sea.Suppliers for the likes of IKEA, Home Depot, Amazon and retailers around the world are doing the same as businesses grapple with the biggest shipping upheaval since the COVID-19 pandemic threw global supply chains into disarray, sources in the logistics industry said.Florida-based Basic Fun usually ships all Europe-bound toys from its China factories via the Suez Canal…

Denmark's Maersk said on Monday it has secured fuel for the world's first container vessel able to run on carbon-neutral methanol for its inaugural journey.Interest in methanol as an alternative fuel for bunkering has grown in the shipping industry, which seeks to achieve net-zero emissions by 2050.Below is a list of key upcoming methanol bunkering-related projects by companies and ports:COMPANIES:*A.P. Moller-MaerskMaersk has ordered 19 methanol-enabled ships to work towards a goal of transporting 25% of its ocean cargo using green fuels by 2030.

Global container shipping freight rates have reached unsustainable levels and must rebound, the chief executive of Germany's Hapag Lloyd, the world's number five operator by volume, said on Tuesday."There are spot rates that are clearly below cost," said CEO Rolf Habben Jansen in a call with journalists."In the long run, that typically does not hold.

Crowley announced it will launch an end-to-end, integrated ocean and rail service between Mexico and the U.S. Midwest region and into Canada. Featuring Crowley’s new Mexico-U.S. ocean route in the Gulf, the service will leverage the inland rail network of Canadian National Railway Company and its U.S. rail subsidiaries (CN). The companies’ combined network provides broad reach across the Midwest and into Canada to increase solutions for global customers in North American market…

Global freight movements continued to dwindle in the first two months of 2023 as manufacturers and distributors struggled to reduce excess inventories and cope with rising interest rates and increased caution among buyers.Container flows fell further in January and February compared with the same months a year earlier, showing the inventory-liquidation cycle was not over yet:Singapore’s seaborne container shipments were down 6% in February compared with a year earlier, one of the steepest falls since the first wave of the pandemic.Japan’s air cargo through Narita airport…

A recently completed terminal expansion project at Canada's Port of Vancouver is set to boost capacity amid projected cargo volume growth at the Canadian West Coast seaport.The Construction on the Centerm Expansion Project—delivered by the the Vancouver Fraser Port Authority in partnership with terminal operator DP World—allows Centerm to handle 60% more containers by increasing the terminal footprint by 15%. Work completed includes expanding the terminal footprint to the west and east…

Container freight rates will keep declining in the current realignment of shipping demand and supply, said the chief executive of Germany's liner Hapag Lloyd, the world's number five by transport capacity."The party is over. We are back to a normal shipping business," CEO Rolf Habben Jansen told reporters at a briefing late on Tuesday on the state of the market, in which his company reported sky-high profits for three years running."Now we have to fight for every box again to get our ships full," he said.

Canadian naval architecture and marine engineering firm Robert Allan Ltd. said it has been awarded a contract by Rio Maguari Shipyard (Estaleiro Rio Maguari – ERM), located in Belém, Brazil, to develop the design package for an innovative Articulated Tug and Barge (ATB) for shipping containers along the coast of Brazil. These two ATB convoys will be owned and operated by Aliança Navegação e Logística (ANL), a major logistics services provider in Latin America, and part of the Maersk Group.Robert Allan Ltd.’s engineering team…

Shell and CMA CGM Group have signed a multi-year liquefied natural gas (LNG) supply agreement, which will supply LNG to CMA CGM’s 13,000 twenty-foot equivalent unit (TEU) vessels in the Port of Singapore, starting from the second half of 2023.The simultaneous operation (SIMOPS) LNG bunkering will be undertaken by FueLNG, a joint venture between a unit of Shell in Singapore and Keppel Offshore & Marine Ltd (Keppel O&M) utilizing FueLNG Bellina that is already in operation and an 18…

In contrast to spot rates on the Far East to North Europe trade which have fallen by more than USD 3,600 per FEU [Forty-Foot-Equivalent-Unit ] since the start of the year, those to the Mediterranean have seen a much smaller decline, falling by just USD 850 per FEU, Xeneta said in a report on Wednesday.According to Xeneta, the spot rate from the Far East to the Mediterranean stood at USD 13,100 on April 26, whereas the spot rate to North Europe was USD 11,100 per FEU.This in turn means that it is now USD 2…

Chinese shipping group COSCO hopes to reach a deal with the Greek government to complete the purchase of an extra stake in Piraeus, despite running out of time to fulfil a key condition, a top official at the port said.Under a 2016 Greek privatization agreement, COSCO Shipping bought a 51% holding in Piraeus Port Authority (PPA) for 280 million euros ($341 million) and committed to mandatory investments worth about 300 million euros over five years to acquire an additional 16%…

The Helen Delich Bentley Port of Baltimore reports it has again topped its record for most container moves from a single ship.The 6,000 container moves conducted by longshore workers from the Maersk Edinburgh at the Seagirt Marine Terminal this week are the most ever in the port's the 315-year history. Maersk Edinburgh arrived at the port on Monday, February 8, and left early Thursday, February 11. The final container move was completed at 9:40 p.m. Wednesday.The new high mark—which counts the number of times an imported container is unloaded from a ship…

German container liner Hapag-Lloyd AG is confident of achieving higher earnings in 2020 as lower fuel prices cut shipping costs, demand in Asia recovers and fleet capacity is tight, chief executive Rolf Habben Jansen said on Friday."Oil prices have fallen sharply in the coronavirus crisis, that has given us tailwind, especially in the weak second quarter," said the head of the world's fifth biggest shipping firm in an interview with Reuters."Volumes have bounced back unexpectedly strongly in the third quarter and that will remain the case in the coming months," he added.A drop in bunker prices

Hyundai Samho Heavy Industries has delivered the world's first very large containership powered by liquefied natural gas (LNG) to Singapore's Eastern Pacific Shipping (EPS), the South Korean shipbuilder announced Wednesday.The LNG-powered, 14,800 twenty-foot equivalent unit (TEU) capacity CMA CGM Tenere is one of six containerships in a series being built for EPS by Hyundai Samho, a unit of shipbuilding giant Korea Shipbuilding & Offshore Engineering Co. The six neo-Panamax box…

A 5,593-gross-ton containership Ocean Abundance allided with a dock in Manila, causing significant damage to the vessel's hull and the pier.The Philippine-flagged feeder box ship, owned by Oceanic Container Lines Incorporated, rammed and damaged approximately five to 10 meters of Pier 2, North Harbor, Manila at around 3:10 a.m. on Monday, according to the Philippine Coast Guard (PCG).The ship's crew told the PCG that the incident was caused by an engine problem that reportedly prevented the 124-meter-long ship from being able to move in reverse.PCG said it is monitoring the situation…