ShippingWatch’s Post

Rise in UK port calls raises speculation that liners are looking to benefit from lower carbon emission payments under EU ETS amid spiralling costs. ”Of course it cannot be ruled out that some routing changes could have been done to provide more favorable transit times to UK importers or exporters,” says Lars Jensen, shipping analyst and founder of Vespucci Maritime.  #shipping #oceanfreight #freight #logistics #globaltrade #regulation #business

Container ships will have to pay 29% of the cost of FuelEU Maritime, while tankers and dry cargo will each have to pay 13% of the cost. Shipping stands to face FuelEU fines totaling EUR 1.3bn by 2025, according to OceanScore which has taken a closer look at the 13,000 ships over 5,000 tons sailing with the EU/EEA hat are subject to the regulation. Albrecht Grell, CEO of Oceanscore, urges shipping companies to get serious and start planning and budgeting for the new requirements now. #shipping #containershipping #oceanfreight #freight #europe #sustainability #environment #energytransition #business #finance #regulation

The Red Sea crisis has caused ship sales to boom in the first half of the year. MSC Mediterranean Shipping Company bought the most second-hand tonnage in the first six months of 2024. While A.P. Moller - Maersk has sold the most second-hand tonnage, according to Alphaliner. #shipping #containershipping #freight #oceanfreight #business

Hapag-Lloyd AG continues to make more money than expected as freight prices rise and therefore the german container carrier raises its guidance again. The large German container shipping company now expects to achieve an operating profit (ebitda) in 2024 of EUR 3.2-4.2bn, up from EUR 2-3bn. This is the second time this year that Hapag-Lloyd has raised its full-year guidance. #shipping #containershipping #oceanfreight #freight #finance #globaltrade #business #growth

If companies have not yet ordered goods for the major holidays, the next few months will be incredibly expensive, says C.H. Robinson. ”The challenge is particularly acute for shippers who were unable to secure enough space at long-term contract rates when shipping lines set strict contract deadlines at the beginning of May,” says Ali Ashraf, Director of C.H. Robinson Marine Products. Companies are in dire straits if they have cargo that needs to be shipped quickly from Asia to the US. #shipping #oceanfreight #freight #logistics #finance #business #globaltrade

There is an urgent need to standardize how to measure methane emissions from shipping, along with legislation that encourages the development of technologies to accelerate reductions. Without a common system to measure emissions, shipping’s progress in reducing its climate footprint will be ”slowed”, warns a new report from the Methane Abatement in Maritime Innovation Initiative (MAMII). Members of MAMII includes MSC Mediterranean Shipping Company, Shell, Lloyd's Register, UK P&I Club, Cool Company Ltd (CoolCo) and NYK Line. #shipping #oceanfreight #freight #sustainability #energytransition #research #regulation

The world’s largest independent supplier of feeder services, Singapore-headquartered X-Press Feeders, is confident the current upturn will persist several months ahead. With rates that have increased massively during 2024, and seem to continue to do so, X-Press Feeders’ COO Francis Goh is very optimistic. “I do not think it is going to crash soon or even this year. I would say it will persist the rest of the year without a big correction," he tells ShippingWatch. With a fleet of 100 feeder vessels, the carrier services the main shipping companies such as A.P. Moller - Maersk and EVERGREEN LINE in regions like Asia and Europe. #shipping #containershipping #freight #oceanfreight #logistics #business #globaltrade #business #europe #singapore

Anthony Gurnee, the longtime chief executive of tanker carrier Ardmore Shipping Corporation, is stepping down and retiring. ”I must admit, it is not an easy decision to leave Ardmore at this point with such an extended positive market outlook,” he says in a statement. His successor will be Gernot Ruppelt, who has been appointed by the board after an ”extensive selection process”. He is currently Ardmore Shipping’s commercial director. #shipping #freight #oceanfreight #business #management #recruitment

Columbia Shipmanagement, a Cyprus-based ship and crew manager, and Crowley, a US-owned maritime, energy and logistics solutions company, have signed a strategic cooperation agreement. ”This partnership heralds a significant opportunity for both Columbia Group and Crowley to elevate our services and cater to the evolving needs of our customers,” says Columbia’s president and chief executive Mark O'Neil. #shipping #freight #oceanfreight #logistics #business #collaboration  

German union Ver.di fears heavy staff cuts if DSV - Global Transport and Logistics takes over DB Schenker. ”We have no illusions. If DSV wins the race, the job losses will probably be the biggest,” Stefan Thyroke board member of DB Schenker tells media Finans. Thyroke is also responsible for the logistics industry at the Ver.di #shipping #freight #logistics #mergersandacquisitions #business #layoffs #europe