Industries are using technology to improve operations as the world becomes increasingly connected. The airfreight industry is embracing the Internet of Things (IoT) for cargo monitoring in ways that were once thought impossible. IoT is the interconnection of physical devices that can communicate with each other and exchange data
The second International Day for Women in Maritime, on 18 May 2023, seeks to highlight the importance of collaboration and networking in achieving gender equality in the maritime sector. IMO Secretary-General Kitack Lim said: “Women are working in all facets of the maritime sector across the globe, on shore and at
The first block for a new class of Russian domestic containership that is also capable of carrying dry bulk cargo was laid down at the Lotos Shipyard, part of the state-owned United Shipbuilding Corporation. In addition to the unique design, the shipbuilding corporation is reporting the ships will be
The tanker market is expected to remain a “minefield” of sanctions, cargo seizures and pipeline disrruption for the time being. In its latest weekly report, shipbroker Gibson said that “disruption to crude exports is nothing new, however recent geopolitical events have highlighted the precariousness of crude exports in some
The Global Alliance for Trade Facilitation supports trade reform in developing and least developed countries (LDCs), bringing government and business together in public-private partnership to make cross-border trade simpler, faster, and more cost-effective. The Alliance has now successfully delivered 14 projects, supporting developing countries and LDCs in fulfilling their
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
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.
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
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
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,
