Drewry: Moderating Growth Will Still Give Lines $200B Profit for 2022
The world’s container carriers smashed records in 2021 leading to reports of dramatic profit increases and while the growth is expected to moderate in the year ahead, the companies are still forecast to show another year of record results. Maritime research consults Drewry released its outlook for 2022 forecasting that higher carrier profits would drive […]
Yantian Limits Export Boxes as Chinese Ports Struggle with Congestion
China ports are continuing to struggle with the pressures on the supply chain with the challenges being compounded both by the rush to get goods shipped before the Lunar New Year holiday and the growing number of cases of the Omicron variant of the coronavirus. Four of China’s largest port regions have all reported cases […]
China to Build World’s Largest LNG Dual-Fuel Car Carriers
China State Shipbuilding Corporation received an order to build two of the world’s largest dual-fuel car carriers. Designed and developed by the Shanghai Ship Research and Design Institute, they report that the vessels will be versatile, incorporating new technologies and designs to maximize efficiency and meet future environmental considerations. The two vessels, which will each […]
Container port congestion worsening at start of 2022: Sea-Intel
What were described as “seemingly interminable queues around the world” have taken out 11% of global containership capacity across 2021 while volumes grew at 7%. In normal times around 2% of containership capacity is tied up in waiting at ports. Using data from South Korean line HMM a slight improvement could be seen between October […]
MSC Recognized as World’s Largest Container Line Surpassing Maersk
Mediterranean Shipping Company (MSC) started the new year recognized as the world’s largest containership company by capacity. Data analysts and consultancy Alphaliner updated its ranking of the Top 100 and for the first time reflects MSC in the lead position ahead of Maersk by just 1,888 TEU, a small fraction of its nearly 4.3 million […]
Suez Canal Authority Reports Record $6.3B in Revenues in 2021
The Suez Canal Authority reported record results for the number of transits of ships and revenues in 2021 saying that the operations were exceeding the overall growth rate for the shipping industry. Citing the success of its marketing and flexible approach to working with the industry, the SCA said it had achieved its best year […]
PUBLISHED BY THE MARITIME EXECUTIVE
The Port of Rotterdam has received its 15 millionth TEU container for 2021 on December 22, making it the first European port and the first port outside Asia to reach that level of volume. The port had been steadily progressing toward the level, reaching 14.8 million TEU in 2019, before the pandemic interrupted growth resulting […]
