Long-term rates are “through the roof” for trades into New Zealand and Australia, with some contracts up over 400% since 2019, new data from box rate platform Xeneta shows. The latest numbers highlight a huge jump in the cost of long-term ocean freight rates into Australasia, with all main routes...
With just 163 days to go until the International Maritime Organization’s Energy Efficiency Existing Index (EEXI) comes into play, more than 75% of all tankers, bulkers and containerships will not be compliant, according to a new report from VesselsValue. “The challenge of decarbonisation will...
https://splash247.com/more-than-75-of-all-tankers-bulkers-and-containerships-not-eexi-compliant/
Billionaire Rodolphe Saadé came out fighting yesterday, determined to steer politicians in Paris away from pummelling his company with a windfall tax to help households battle soaring inflation. A growing number of French politicians are calling for a steep 25% windfall tax on some local transport...
https://splash247.com/rodolphe-saade-fights-calls-for-a-windfall-tax/
New York-based Libra Group has appointed Manos Kouligkas as its new chief executive, a move that will see the current chairman and CEO, George Logothetis, take the role of executive chairman. Kouligkas, most recently chief financial officer of Libra’s UK-based diversified owner Lomar Shipping, will...
https://splash247.com/lomars-manos-kouligkas-steps-up-to-lead-libra-group/
With the leaders of Russia, Iran and Turkey meeting in Tehran this week, new shipping routes have been under discussion. Iran’s state-run Islamic Republic of Iran Shipping Line (IRISL) has moved to extend its network by facilitating the transport of Russian goods to India via the International...
https://splash247.com/iran-facilitates-new-shipping-routes-from-russia-to-india/
A new study in the Nature Energy Journal exploring the economic and environmental benefits of direct electrification of containerships shows that dramatic improvements in batteries have unlocked the potential to electrify big containerships today on voyages of up to 5,000 km. The main findings from...
https://splash247.com/shipping-shown-pathway-to-battery-powered-future/
Scotland is getting its first direct container link with China in a new service that promises to cut transit times by nearly half. The maiden voyage from Ningbo is due to arrive in mid-August at Greenock Port carrying 1,600 teu. Sailings will occur three times a month with a 10-day port rotation...
https://splash247.com/scotland-gets-first-direct-container-link-with-china/
One hundred and seventy euros ($173). That’s the price Danish carrier Maersk estimates clients will have to pay extra per feu on the Asia – Europe tradelane once a package of new European Union regulations kick in. For reefers, the extra charge is estimated on the same tradelane at EUR255. In an...
https://splash247.com/173-per-feu-maersk-warns-eus-emissions-trading-plans-will-be-significant/
Norwegian owner Ocean Yield has agreed to buy another 5,500 teu container vessel under construction in South Korea. As with the previous acquisition announced in June, the vessel will be built at HJ Shipbuilding and Construction, formerly known as Hanjin Heavy Industries & Construction, with...
https://splash247.com/ocean-yield-snaps-up-another-methanol-ready-boxship-newbuild/
Boxport congestion is setting new record highs, quashing talk of any imminent return to supply chain normalisation. The containership port congestion index created by UK broker Clarksons hit a new record on July 14, whereby 37.8% of the boxship fleet capacity was at port. This exceeds the previous...
https://splash247.com/global-boxport-congestion-sets-fresh-record-highs/