The EU’s shipping price cap on Russian diesel and fuel oil takes effect on February 5, and the European Commission is thinking of setting the initial cap level at $100 per barrel, according to Bloomberg. Unlike the G-7 Russian oil price cap, which is a broad multilateral measure, the
Dubai-based terminal operator DP World is joining forces with Danish liner giant A.P. Moller – Maersk to boost operational efficiencies and deliver decarbonisation solutions at Jebel Ali port in the United Arab Emirates. The long-term strategic partnership will provide support for Maersk’s customers by implementing new processes to improve
Chinese New Year (CNY) sees a production slowdown in Asia while the major shipping lines announce blank sailings in order to bring supply in line with demand. According to Sea-Intelligence, in 2020, the CNY extended due to the Covid outbreak, while in both 2021 and 2022 the shipping
The IMO’s imminent carbon efficiency regulations could generate a wave of ships heading for recycling yards in the months ahead, some analysts have suggested. But others question whether there would be sufficient capacity to handle an influx of vessels if the flood gates open. Although the IMO’s carbon intensity
MSC has announced the update of its NWC to South Africa service, revising the port rotation in Northern Europe and call at Cape Town on the Northbound leg. With this change, the largest container line in the world aims to improve transit times and schedule reliability. MSC noted it
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Container freight rates are expected to hit a trough in mid-2023 forecasts HSBC Global Research as spot rates fall at 7.5% a week. Parash Jain, Head of Shipping & Ports & Asia Transport Research, was one of the first to flag a sharp decline ahead in container shipping’s fortunes
Beijing’s on-and-off COVID lockdowns created serious challenges for shipping in 2022, and even though pandemic-era controls have eased, the trade outlook for China looks mixed. Demand from American importers has fallen; new competitors in Southeast Asia are luring away manufacturers; and high-tech chipmakers are headed for the exit. Still, China
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