EU presents new safety and environmental plan for shipping

The European Commission (EC) has presented five legislative proposals to modernise EU rules on maritime safety and prevent water pollution from ships. The proposals aim to equip the EU with new tools to support clean and modern shipping. Three recommendations aimed at enhancing maritime safety regulations are included in the package, with an emphasis on port state control and maritime […]

Apollo Portconnect Experts launched

Apollo Global Experts has launched Apollo Portconnect, a network geared towards ship agents catering for breakbulk and project cargo vessels, dry and liquid bulkers and offshore vessels. Albert Pegg, project and breakbulk expert at Apollo. Apollo Global Experts now comprises five sub-networks, including Apollo Breakbulk Experts (formerly Atlas Breakbulk Alliance – ABA), as well groups specialising in cold […]

Trading outlook for second half looking grim for container lines

Container lines are concerned about the deteriorating trading outlook for the second half of the year as tighter monetary policies dampen consumer demand. A subdued peak season, followed by a lengthy slack period, prompting further rate erosion, will wreak havoc on the balance sheets of carriers heavily exposed to east-west trades. They will need every […]

Fashion Industry Driving Demand for Green Shipping, Maersk Says

COPENHAGEN, June 30 (Reuters) – Fashion brands are a key driver of demand for green shipping fuels, according to shipping group Maersk, as the sector faces pressure from consumers and regulators to reduce their climate footprint. Retailers ship huge volumes of clothes from production centers in countries such as China, Vietnam and Bangladesh to consumers […]

Sail, solar, and battery retrofit solution gets approval

A retrofit solution involving rigid sails, solar panels, and batteries has received an approval in principle from Italian class society RINA. Designed by naval architects Aurelia, in partnership with Econowind, Wattlab and Vertom, the solution can be applied to almost any kind of vessel, whatever their purpose or cargo. It does not interfere with operational […]

Survival of the Fittest for Shortsea Shipping Market

Shortsea shipping lines in Northern Europe are facing a fight for survival as demand weakens and rates plummet. As in the deepsea sector, shortsea container carriers and feeder lines are having to adjust to a reduction in demand across their networks. For example, according to Alphaliner data, Aarhus-based Unifeeder has reduced its capacity by more […]

MSC is Bleeding the Charter Market Dry

The containership charter market shows no sign of softening as it goes into the usually slack summer season, despite sea freight rates coming under pressure on several tradelanes. This disconnect is likely to put carriers with expensive long-term charters under financial stress. Moreover, the driver, the shortage of open tonnage on the market, is being […]

‘Extreme’ measures under consideration at drought-hit Panama Canal

New draft restrictions from the drought-stricken Panama Canal will mean that from next month the waterway will have slashed its draft by more than 2 m, with authorities warning daily transits may have to be cut by up to 25% in order to save water. Panama has been suffering one of the worst dry spells […]

HMM makes $233m bid to buy back Hyundai LNG Shipping

HMM, South Korea’s flagship carrier, has made a bid to reenter the gas trades, tabling KWX300bn ($233m) to take over its old company, Hyundai LNG Shipping. HMM has been keen to diversify its earnings base and with the local private equity owners of Hyundai LNG Shipping putting the company for sale, the cash-rich liner has […]

UN Secretary General Fears Russia Will Quit Black Sea Grain Deal

UNITED NATIONS, June 12 (Reuters) – United Nations Secretary-General Antonio Guterres said on Monday he is concerned that Russia will on July 17 quit a deal allowing the safe wartime export of grain and fertilizers from three Ukrainian Black Sea ports. Moscow has been threatening to walk away from the deal known as the Black […]