The world’s 30 busiest container ports saw growth slow in 2022. According to Alphaliner, volumes at the 30 busiest ports rose by less than 1% year-on-year (y/y) to 454 million TEU in 2022. China was the main driver of the gains and, to a lesser extent, the Middle East. China’s top 10 ports achieved […]
Read MoreThe California Air Resources Board has thrown open the door on comments to its proposed Advanced Clean Fleet (ACF) rule, which sees a phaseout of diesel-powered trucks in the state, even as CARB still does not have the waiver it needs to make it a reality. That proposal includes an acceleration of the target […]
Read MoreLars Jensen, founder and CEO of Vespucci Maritime, has warned that shippers can expect to face carbon surcharges and fewer direct services from carriers in the second half of 2023, as carrier network adjustments to reduce the cost impact of Emissions Trading System (ETS) are implemented. Speaking at the TPM23 conference in Long Beach, […]
Read MoreGlobal Ocean carriers reached the top of the bullish market in 2022 by realizing high profits largely due to tight capacity and exceptionally high container rates. In fact, analysts at Blue Alpha Capital project that the world’s biggest container lines are on course to post profits in 2022 that will top 2021’s record by 73%. However, […]
Read MoreThe two largest global container lines have mutually agreed to end their vessel-sharing partnership in January 2025. A joint statement by Vincent Clerc, CEO of A. P. Moller – Maersk, and Soren Toft, CEO of MSC, said that discontinuing the vessel-sharing alliance would allow both companies to “pursue their individual strategies”. Consultant Drewry observed […]
Read MorePort of Los Angeles executive director Gene Seroka expects labor negotiations between the International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA) will produce a deal by early February next year. “We’ll get through it in the early part of 2023,” Seroka said in an interview. “And then it’s a […]
Read MoreMSC’s growth as the world’s largest container shipping company is continuing unabated despite continuing signs of a near-term softening in the market and falling demand. The carrier, which was tied with Maersk at the beginning of 2022 for the largest carrying capacity, has continued to expand. At the end of last week, two more […]
Read MoreEffective ocean carrier capacity will be decreased by up to 15% between 2023 and 2024, a result of new global fuel efficiency rules, along with slow-steaming and scrapping. The reduction will occur in spite of a continuous increase in newbuilding deliveries, container shipping analyst Lars Jensen has said. Total container shipping capacity will expand […]
Read MoreContainer spot freight rates have taken on double-digit declines week-on-week on some of the major trades. The Trans-Pacific Eastbound Asia-U.S. West Coast trade is around 80% lower than at the same point last year according to the Freightos Baltic Index (FBX). Further, the shift of U.S. import volumes from West to East Coast ports […]
Read MoreThere is a substantial gap in fleet sizes between the leading carriers and the rest of the container field. The top 10 container shipping lines operate 21.8 million TEU of capacity compared to the next 20 carriers which have a combined 2.5 million TEU of capacity, according to Alphaliner data. Proportionally, larger shipping lines have […]
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