2023 Marine Fuel Market Predictions
The drive for decarbonisation we witnessed in 2022 has continued into 2023, demonstrating the shipping’s industry positive strides in the fast-paced transition towards a more sustainable future. In the absence of a ‘silver bullet’ for shipping’s commercial fleet, choosing the right evolutionary pathway for vessels will require a sophisticated and tailored approach that brings together […]
January imports up from December, but February is looking weak
Descartes: Imports rose 7.2% month on month yet still down to 2019-2020 levels In January, U.S. containerized imports logged their highest month-on-month gain since last May, according to data from Descartes. Inbound volumes rose 7.2% versus December to 2,068,493 twenty-foot equivalent units, Descartes reported Wednesday. That’s the good news. The bad news is that last […]
Maersk: Container shipping contract rates will sink to spot levels
Earnings are expected to plunge by up to 78% in 2023 A.P Moller-Maersk, operator of the world’s second-largest container line, announced fourth-quarter results in line with expectations on Wednesday. But its outlook for 2023 came in below consensus, with rates expected to be particularly weak in the second half of the year. Maersk sees spot […]
Lag effect: Why liner profits stay high much longer than spot rates
Hapag-Lloyd Q4 2022 EBITDA over 7 times higher than Q4 2019 EBITDA Spot container shipping rates in many trades have already collapsed back to pre-COVID levels. But container liner earnings are still nowhere near where they were pre-pandemic. Ocean carriers are still earning billions more per quarter than they used to. German carrier Hapag-Lloyd reported […]
Just how big are the global container shipping alliances?
Top 9 carriers control 83% of capacity, but the 3 alliances control only 39% The world’s top two container lines — Switzerland’s MSC and Denmark’s Maersk — have cooperated since 2015 in the 2M alliance, a partnership they will end in 2025. Because MSC and Maersk have the biggest fleets, controlling over a third of all […]
Asian shipping lines are reporting steep revenue declines
Income plunges for OOCL, Evergreen, Yang Ming, Wan Hai New operating results from four Asian shipping lines were released Friday, pointing to steep performance declines in the fourth quarter and ongoing market erosion in the first month of this year. Orient Overseas Container Line (OOCL), the Hong Kong-listed subsidiary of China’s Cosco Group, disclosed revenue […]
MPC Containers Becomes Lead Customer for Synthetic Marine Diesel
As the search continues for new alternative fuels to contribute to the decarbonization of shipping, Norway’s MPC Container Ships has entered into a future contract with Germany’s Ineratec for a new synthetic marine diesel oil for its ships. Ineratec, which is developed power-to-liquid applications for other segments of the transportation sector, is looking to build […]
Maersk to consolidate brands
Maersk is moving towards a single, unified brand that will see shipping lines Hamburg Süd and SeaLand as well as newer acquired brands like Senator and LF Logistics discontinued and integrated into Maersk. “We believe that by integrating these into the Maersk brand, we will be able to ease logistical difficulties, whilst also offering more […]
Liner shipping digests the news of the 2M divorce
The divorce, due to be completed in January 2025, of container shipping’s “Odd Couple” as one liner veteran described it to Splash had been rumoured for many months, and it will pit Clerc, a Swiss citizen in Copenhagen, against Toft, a Danish former Maersk high-flyer in Geneva, in a battle for customers. British consultants Drewry have argued […]
Improving the Speed of Cyberdefense: Seven Key Metrics
You are a bridge officer on a 12,000 TEU container vessel in the Kill Van Kull Channel, heading west towards the Bayonne Bridge with a pilot on board. It’s a cloudless sunny day. As you pass Constable Hook Reach, you feel the ship veer hard to port and your speed appears to increase. Although the bridge […]
