More than 1000 ships are expected to be ordered per year through 2030, and with growing pressure on the shipping industry to decarbonize, the shipowners must be careful with fuel selection and ship design, as a misstep here can have damaging consequences in the future.This is according to the latest Maritime Forecast to 2050 launched Tuesday by DNV.DNV stressed that shipping decarbonization was no longer just a top priority for the International Maritime Organization (IMO)…
Maritime UK, the umbrella organisation for the UK’s maritime sector, has appointed Chris Shirling-Rooke MBE as its new CEO.Shirling-Rooke is currently CEO of Mersey Maritime, a maritime regional cluster organisation based in the Liverpool City Region…
ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) announced its consolidated results for the three months ended March 31, 2023.Net loss for the first quarter was $58 million (compared to net income of $1,711 million in the first quarter of 2022)…
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…
“Despite falling 1.1% m/m in both November and December, US retail sales volumes remain 13% above 2019 levels and 6% higher than the pre-COVID trend. However, sales volumes could return to trend during 2023 and thereby pose a risk for Asia to North America container volumes…
The annual Shipping Industry Flag State Performance Table, published today from the International Chamber of Shipping (ICS), highlights a 25% increase in flag states reporting on seafarer labor standards compared to last year. Each year flag…
As container shipping demand continues to fall into the New Year, Xeneta Chief Analyst Peter Sand weigh in with his insights on the pace and direction of spot and contract rates; the likelihood of ship lay-ups and scrapping in 2023; plus the…
Ten trade organizations representing the owners and forwarders of cargo, port terminal operators and other parts of the supply chain dependent on container shipping are demanding an immediate review of European Union’s Consortia Block Exemption Regulation for the container shipping industry…
Nina Østergaard Borris, co-owner and current COO of United Shipping and Trading Company (USTC), takes on new responsibilities in the family-owned business as CEO, succeeding her father Torben Østergaard-Nielsen who will take over as Chairman of the Board of Directors for USTC…
In an attempt to bring more international shipping firms onshore to the UK, the British chancellor of the Exchequer Rishi Sunak provided the biggest shake-up to the UK’s domestic tonnage tax since its introduction 20 years ago.The British government…
A new exhibition area on the subject of 'Reefer Shipping - Transport of Perishable Goods' is attracting visitors to the International Maritime Museum Hamburg (IMMH). Starting October 19, 2021, this new part of the exhibition on deck 6 will present everything on the subject of reefer shipping…
Clearlake Shipping, a wholly-owned subsidiary of Gunvor Group, has fixed a new building 37,000 deadweight ton (dwt) asphalt carrier, the White Pearl, to be delivered before year end.White Pearl will complement Gunvor’s growing asphalt trading business…
U.S. manufacturing of durable goods, which has been lagging the wider recovery of the U.S. economy, hit an all-time high in June when $270.5B worth of goods was produced. This brings total manufacturing of durable goods so far this year to $1…
Freight volumes in the port of Rotterdam rose 5.8% on a yearly basis in the first half of 2021, as international trade recovered from its coronavirus slump, Europe's largest sea port said on Thursday.Traffic took a big hit from COVID-19 in the first half of 2020…
The pandemic led to a disruption of the global sectors that also included the ocean trade. International trade witnessed an extensive impact on operations, causing a sharp decline in trade activities worldwide. Only a few technology-driven service…
