Maersk has teamed up with its majority owner to form a new company to produce 'green methanol', the shipping company said on Thursday, as it held a naming ceremony for the world's first container vessel powered by the low-carbon fuel.Green methanol, produced either from biomass or captured carbon and hydrogen from renewable power, can reduce carbon dioxide emissions from container ships by 60% to 95% compared with conventional fossil fuels…
Global industrial production and containerised freight flows remained in the doldrums at the start of the third quarter, confounding predictions earlier in the year for a strong rebound.Manufacturers and distributors in North America and Europe…
A.P. Moller - Maersk and Amazon have finalized a 2023-2024 agreement for the transport of 20,000 FFE containers (40,000 TEU) using green biofuel through Maersk’s “ECO Delivery” ocean product offering.Maersk estimates this purchase will contribute to a reduction in 44…
The port of Rotterdam has for the first time refueled a methanol-powered container ship as the shipping industry turns to the technology to cut its emissions, methanol producer OCI Global said on Tuesday.The Maersk-owned ship began its 21,500 km (13…
The Helen Delich Bentley Port of Baltimore today welcomed the largest container ship ever to visit Maryland with the arrival of the Evergreen Ever Max at Seagirt Marine Terminal. The vessel weighs 165,350 tons and has the capacity to handle 15…
Interest in methanol as an alternative fuel has grown in the shipping industry, which seeks to achieve net-zero emissions by 2050.Below is a list of upcoming methanol bunkering-related projects by companies and ports:COMPANIES:A.P. Moller-MaerskMaersk…
Starting in September, the company that manages the Paranaguá Container Terminal (TCP) will receive a new maritime service in partnership with COSCO Shipping Lines/OOCL and Ocean Network Express (ONE). The service is branded respectively as: East Coast South America-Europe 2 (ESE2)…
According to Xeneta’s Shipping Index (XSI), global long-term shipping rates sank to a two-year low in July, falling 9.5% since June, plummetting 57.8% since the same period in 2022. And just as rates hit a fresh low, the bad news for carriers…
French shipping group CMA CGM expects container freight demand to improve from next year but the group's profits will continue to ease this year as a slump in freight rates from record highs and a weak economy weigh on results, it said on Friday…
A port call made by CMA CGM Liberty at the Honmoku D4 terminal in Yokohama on Monday is the first by a liquefied natural gas (LNG)-powered containership in Japan. At 15,000-TEU, the containership also ranks amongst the largest vessels to be calling in Japan…
Container carriers in THE Alliance will make changes to the Asia to Transpacific-West Coast Network by temporarily suspending the PS5 service and enhancing the existing PS3, PS6, and PS7 service as of August and until further notice. The moves are on response to the 'present market situation'…
CMA CGM expects its profit to ease further for the rest of the year after a first-quarter decline, as an uncertain economy and influx of new vessels cool the container shipping market after a record 2022.The company, based in Marseille and privately controlled by the founding Saade family…
Shipping finance markets for the rest of 2023 look positive, with a depth of lenders, banks, leasing houses and alternative credit funds all seeking to grow their portfolios and offer the best terms to win projects; and competition between lenders…
Samsung Heavy Industries (SHI) held aTechnology Road Show in Europe as an official debut of its new design ship.SHI held its 'Samsung Technical Seminar in Athens' at the Marriott Hotel in Athens, Greece, and announcing details on a pair of new designs: an LNG carrier and a container ship…
The world’s first methanol-fueled containership has been launched for A.P. Moller - Maersk as the Danish shipping giant makes headway toward its goal to decarbonize its operations.“The launching was successfully completed on April 4 at Hyundai Mipo Dockyard…
