port-and-ship
Mar 04, 2025
Marine Insight
Of the top owners within the GCC, taking into account both the live fleet and on order, Qatar Gas Transport Co is currently the top GCC company in monetary terms, with a fleet value of USD 11.9 bn. The fleet consists of 36 live LNG and LPG vessels with a further 30 on order.
Qatar Gas also placed the highest value newbuilding order in February 2024 with their investment in 15 large LNG vessels, scheduled to be built at Samsung and contracted for USD 230 mil each—which equates to a total of USD 3.5 bn.
QatarEnergy is the second largest owner with a fleet value of USD 8.57 bn with an orderbook of 33 Large LNG vessels.
ADNOC Logistics and Services rank third with a fleet value of USD 6.48 bn. However, in terms of vessels numbers, ADNOC have the largest fleet with 76 vessels. ADNOC has received a boost in rankings due to its acquisition of an 80% stake in Navig8, set to be completed in 2027.
In 2024, the top ship types ordered by GCC based companies were LNG, LPG, and Tanker sectors with 44, 23 and 15 vessels contracted respectively at a total value of USD 14.3 bn.
Of the top GCC companies ordering vessels last year, Qatar Gas Transport Co. were the biggest spenders in the newbuilding sector, ordering 30 vessels, amounting to an impressive USD 7.2 bn. The bulk of this order consisted of Large LNG vessels of 174,000 CBM, which accounted for c.57%, followed by QMAX LNG of 271,000 CBM with a share of c.30%. Finally, VLGC LPG orders of 88,000 CBM accounted for c.13%.
AW Shipping ranked second, investing USD 1.9 bn in nine VLEC vessels of 93,000 CBM, which are scheduled to be built at Jiangnan Shanghai Changxing and delivered between 2026-27. They also ordered four VLAC vessels of 99,000 CBM at the same yard, which are scheduled to be delivered between 2026-28.
QatarEnergy is in third place, spending USD 1.84 bn for eight Large LNG vessels of 174,000 CBM,
scheduled to be built at Hanwha Ocean and delivered between 2027-28.
Tankers were the most popular vessel purchased within the GCC zone in 2024, with 156 transactions taking place and worth an impressive USD 5 bn as the supply-demand imbalance caused by the Red Sea crisis fuelled market sentiment and expectations of high earnings.
This kept values strong for this sector, and there was plenty of second hand market throughout the year as this also boosted orders for new vessels.
The LNG sector was the second most active last year with a spend of USD 1.8 bn for just 12 vessels. The majority of these acquisitions were for the Large LNG sector with an average age of 11 years.
Bulkers were the third most popular vessel purchased in 2024 with 51 sales reported and valued at USD 772 million. Smaller vessels were the most popular, with the majority of purchases in the Handy/Supra/Ultramax sectors with a share of c.69%, followed by Panamax/Kamsarmaxes accounting for c.18%, and finally, Capesizes accounting for just c.13%.
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Hellenic Shipping News
Greener Reefers Could Cut 3.74 Million Tons Co₂E And Reduce Energy Use By 20%in International Shipping News,Shipping: Emission Possible
01/05/2025
A full transition to greener refrigerated containers (“reefers”) could reduce greenhouse gas emissions by up to 3.74 million tons of CO₂-equivalent per year, according to a new White Paper developed by the Kuehne Climate Center and GIZ, equivalent to the emissions generated by the production of 872,375 gasoline-powered passenger vehicles per year.
Natural refrigerants such as propane match or outperform traditional refrigerants in cooling performance while having significantly lower global warming potential. Eliminating PFAS, harmful “forever chemicals” that are highly persistent, from the supply chain is another key benefit, as many of today’s commonly used synthetic refrigerants gradually break down into these persistent pollutants. Natural refrigerants do not generate these substances, making them a safer and cleaner alternative. Furthermore, operational improvements throughout the cold chain, including better insulation and temperature control could reduce energy consumption by up to 20%.
Reefers play a critical role in transporting food, pharmaceuticals, and other sensitive goods worldwide. Despite comprising only 15% of the global container fleet, based on the latest International Maritime Organization information the ca. 2.5 million refrigerated containers currently in use have a disproportionately large climate footprint due to their energy-intensive cooling systems and the use of refrigerants such as R134a and R404A — which have global warming potentials thousands of times higher than CO₂ and significantly accelerate the climate crisis when released. In 2018 alone, leaks from these refrigerants led to 3.74 million tons of CO₂-equivalent emissions. Moreover, PFAS, persistent chemicals that contaminate soil and water, pose significant health risks such as hormonal imbalances, immune system effects, and certain cancers.
The technology to replace today´s refrigerants already exist. Natural refrigerants like propane and carbon dioxide, which are widely used in other sectors, can be effectively applied in refrigerated maritime containers. These alternatives offer strong cooling performance, significantly lower climate impact and eliminate PFAS contamination risks. While the transition to greener refrigerants like propane and carbon dioxide involves higher upfront costs and additional safety requirements, the White Paper concludes that the shift is both technically feasible and economically viable in the long term. However, barriers such as regulatory complexity, flammability standards, and the additional costs associated with introducing these substances into existing operations, such as infrastructure adjustments and technician training, represent manageable challenges to be addressed as part of the implementation process. The right policy support, financial incentives, and industry collaboration would be essential to accelerate the adoption and make the transition cost-effective at scale.
Momentum for change is growing. Global policies such as the EU F-Gas Regulation, which aims to phase down the use of fluorinated greenhouse gases, the Kigali Amendment to the Montreal Protocol, and the International Maritime Organization’s climate targets are driving the industry towards cleaner solutions. Regulation on PFAS is also anticipated. Companies that take proactive steps now can stay ahead of regulations, reduce emissions, and align with the growing market demand for sustainable supply chains.
“Bold action is not just necessary – it is possible,” says Otto Schacht, Advisor to the Kühne Foundation and former Head of Global Sea Logistics at Kuehne+Nagel. “This White Paper is both a call to action and a source of inspiration for stakeholders across the maritime ecosystem. The insights presented here showcase the immense potential of transitioning to climate- and environment-friendly reefer technologies.” The Greener Reefers White Paper was developed by the Kuehne Climate Center in cooperation with GIZ – “Deutsche Gesellschaft für Internationale Zusammenarbeit”. It was created as part of the Greener Reefers Transition Alliance, a collaborative initiative that aims to accelerate the shift towards sustainable refrigerated shipping by promoting natural refrigerants, energyefficient technologies, and systems-level innovation.
By bringing together industry leaders, innovators, and key stakeholders, the Alliance supports an enabling environment for greener reefer adoption, advancing the goals of the International Maritime Organization’s reduction strategy and the Paris Agreement.
Source: Kuehne Climate Centerport-and-ship
01 May 2025
Port Technology International
One Reports 32 Per Cent Revenue Surge To $19.23 Billion YoyThe company witnessed their net profit surge to $4.24 billion, marking a $3.27 billion increase from the previous year.
Jeremy Nixon, CEO of ONE, said: “We are pleased to report a profit of $4.24 billion for FY2024 — an achievement realised despite ongoing geopolitical tensions and regional economic uncertainties.
“Through our participation in the newly established the Premier Alliance, we have further expanded our global network and enhanced our service offerings.”
Recently, ONE launched its Intra-Greece Express (IGX) service to enhance connectivity between Thessaloniki and Piraeus.
Additionally, the Port of New York and New Jersey celebrated the maiden voyage of the ONE Eagle at Port Liberty Bayonne.port-and-ship
30 April 2025
Bunker Port News Worldwide
Trafigura To Supply 4 Million Barrels Of Oman Crude To BpclTrader Trafigura Tuesday said it would supply four million barrels of Oman crude Indian refiner Bharat Petroleum Corp BPCL with deliveries starting in May.
“Trafigura will supply quarterly cargoes, destined for BPCL’s Kochi Refinery, until March 2026,” it said in a statement.
BPCL operates a 310,000 barrels per day refinery at Kochi in southern Kerala state.
Source: Reutersport-and-ship
30 April 2025
Splash247
Saipem Wins $590M Deal For Work On Eni’S Uk Ccs ProjectItalian offshore engineering and construction giant Saipem has won a contract from Eni for work on the Liverpool Bay CCS project in the UK.
The value of the contract is estimated approximately €520m ($592m) over the three years required to complete the project.
The Liverpool Bay CCS project will serve the HyNet industrial cluster, situated in one of the UK’s most energy-intensive industrial districts.
Saipem’s scope of work concerns the EPC and assistance to the commissioning of a new CO2 electrical compression station. This new facility will be integrated with both the offshore and onshore segments of the overall development.
The gas compression and treatment facility will allow for permanent CO2 storage in offshore depleted fields under Liverpool Bay.
This comes less than a week after Eni reached the financial close with the UK Government’s Department of Energy Security and Net Zero for the project.
The Liverpool Bay CCS project will operate as the backbone of the HyNet Cluster to transport carbon dioxide from capture plants across the North West of England and North Wales through new and repurposed infrastructure to safe and permanent storage in Eni’s depleted natural gas reservoirs, located under the seabed in Liverpool Bay.
The project itself foresees the efficient repurposing of part of the offshore platforms as well as 149 km of onshore and offshore pipelines, and the construction of 35 km of new pipelines to connect industrial emitters to the Liverpool Bay CCS network.port-and-ship
29 April 2025
Shipping Telegraph
Uscg Lands Min $214 Million Illegal Cocaine In San DiegoThe crew of the U.S. Coast Guard Cutter Kimball (WMSL 756) offloaded approximately 18,898 pounds of cocaine, with an estimated value of more than US$214.3 million, on Thursday in San Diego, USA.
The offload in San Diego is a result of six separate suspected drug smuggling vessel interdictions or events off the coasts of Mexico and Central and South America by the Coast Guard Cutter Kimball and Coast Guard Cutter Forward during the months of February through April the U.S. Coast Guard announce.
Multiple U.S. agencies, including the Departments of Defense, Justice, and Homeland Security, collaborate in the effort to combat transnational organized crime. The Coast Guard, Navy, Customs and Border Protection, FBI, Drug Enforcement Administration, and Immigration and Customs Enforcement, along with allied and international partner agencies, all play a role in counter-narcotic operations.
The Coast Guard Cutter Kimball is one of two legend-class national security cutters homeported in Honolulu, Hawaii as the USCG mentions.
Video credit: U.S. Coast Guard.port-and-ship
28 April 2025
Container News
Ceva Logistics To Acquire Turkey’S Borusan Tedarik For Us$440 MillionCEVA Logistics, the logistics arm of French shipping giant CMA CGM, has signed a binding agreement to acquire 100% of Turkish logistics provider Borusan Tedarik Zinciri Çözümleri ve Teknoloji Anonim Şirketi.
The deal, valued at approximately US$440 million, is subject to customary net cash and working capital adjustments. Borusan Holding currently owns 69.47% of Borusan Tedarik, while 30.53% is held by the publicly traded Borusan Yatırım.
The acquisition, which includes Borusan Tedarik’s subsidiaries in Germany, Bulgaria, Hong Kong, and China, remains subject to regulatory approvals and standard closing conditions.
Borusan Tedarik offers a broad range of logistics services in Turkey, including contract logistics, finished vehicle logistics (FVL), full truckload (FTL) and less-than-truckload (LTL) ground transportation, as well as air and ocean freight and customs services. In 2024, the company generated gross revenues of US$567 million, serving a diverse mix of international and leading domestic customers.
Following the completion of the transaction, approximately 4,000 Borusan Tedarik employees will join CEVA Logistics.
The acquisition is set to significantly expand CEVA’s presence in Turkey, nearly doubling its domestic warehousing and distribution footprint by adding around 570,000 square meters to its current 620,000 square meters. Ground transport operations will also be strengthened, with the combined network expected to handle nearly 1 million domestic shipments annually, and bolster CEVA’s European connectivity.
Borusan Tedarik’s strong relationships in the automotive sector are expected to reinforce CEVA’s finished vehicle logistics (FVL) capabilities, positioning it among the top three global players in the segment. Additionally, the deal will expand CEVA’s ocean freight capacity by 25% and elevate its airfreight operations into the top five within the Turkish market.
Since its acquisition by CMA CGM in 2019, CEVA Logistics has pursued an aggressive growth strategy, integrating major players such as Ingram Micro’s CLS division, GEFCO, and most recently, Bolloré Logistics. The company has also executed numerous domestic bolt-on acquisitions and joint ventures to accelerate its expansion across key markets and sectors.port-and-ship
28 April 2025
Marine Insight
Ukraine Arrests Russian Ship Smuggling 5,000 Tons Of Stolen Grain From CrimeaUkrainian authorities have seized a foreign cargo vessel accused of transporting stolen grain from Crimea, in a joint operation carried out by Ukraine’s Security Service (SBU) and the State Border Guard Service (SBGS).
The ship was intercepted in the internal waters of the Black Sea, Ukraine announced.
Investigators confirmed that the ship had loaded around 5,000 tons of wheat from the port of Sevastopol at the end of 2024.
Sevastopol is located in Crimea, which Ukraine continues to regard as a temporarily occupied part of its southern territory.
To hide the grain’s true origin, the vessel operated under the flag of one of the Asian countries-a tactic authorities say is commonly used by Russia’s “shadow fleet”.
During the search operation, Ukrainian forces found documents, navigational equipment, and other physical evidence linking the ship and its crew to the illegal transportation of Ukrainian agricultural products.
The vessel was immediately arrested, and its crew was detained for further legal procedures. A pre-trial investigation into the incident is ongoing.
The SBU stated that the seized ship was involved in helping Russian forces loot and sell Ukrainian grain to third countries.
The operation was conducted by officers from the SBU units in the Autonomous Republic of Crimea and Odessa region, working together with the maritime protection units of the State Border Guard Service and the Naval Forces of Ukraine, under the procedural guidance of the Prosecutor’s Office of Crimea and the city of Sevastopol.
Ukrainian officials have accused Russia of consistently stealing Ukrainian agricultural products since it occupied Crimea in 2014.
According to open media reports like Bellingcat and Lloyd’s List, Russia has been moving grain out of Crimea for years.
Ukrainian authorities have warned countries against buying stolen grain.
Earlier in 2024, Ukraine had detained another vessel on the Danube River, which had transported grain from Crimea both in 2023 and again in 2024.
After a court case, that ship was handed over to be Ukrainian state, and the captain along with an officer were arrested for prosecution.
Ukraine’s latest action comes as political tensions grow over the status of Crimea.
President Volodymyr Zelensky has reiterated that under Ukraine’s constitution, Crimea remains part of Ukraine and cannot be surrendered.
He has previously called Crimea a “red line” in any negotiations to end the war with Russia.
Meanwhile, US President Donald Trump said in an interview published by Time Magazine on April 25 that “Crimea will stay with Russia,” and suggested that Zelensky “understands that.”
Trump has criticised Ukraine, blaming it for prolonging the conflict and hindering peace talks, which he said he is keen to conclude.
Ukraine’s announcement about the seized vessel came just before a planned meeting between US Special Envoy Steve Witkoff and Russian President Vladimir Putin to discuss efforts to move the peace negotiations forward.
At the same time, Ukraine’s National Resistance Centre recently reported that Russia is building a large agricultural market in occupied Mariupol, which officials believe is intended to support the export of stolen Ukrainian goods.
Ukraine has also found evidence that grain taken from occupied territories is being shipped to countries such as Iran.
The Ukrainian authorities stated that they will continue operations to stop the illegal export of Ukrainian resources from occupied territories.
References: newsukraine, pravda
Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
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26 April 2025
Maritime Gateway
Dpa Kandla Crosses 10 Million Tonnes Cargo MilestoneDeendayal Port Authority, Kandla has achieved a major milestone by crossing the 10 million Metric Tonnes (MMT) cargo handling mark as of April 25, 2025 — two days ahead of last year’s timeline. This accomplishment highlights DPA’s growing momentum, operational excellence, and unwavering commitment to service.
The Chairman, DPA, congratulated all stakeholders, port users, trade unions, employees, and workers for their remarkable contribution and wholehearted support in achieving this feat.port-and-ship
26 April 2025
Marine Insight
Maryland Approves $160M Plan To Protect Bay Bridge From Ship CollisionsMaryland’s Transportation Authority (MDTA) has completed a safety study for the Chesapeake Bay Bridge and announced plans to improve the bridge’s defenses against potential ship collisions.
The decision comes after heavy criticism from federal officials after the fatal collapse of the Francis Scott Key Bridge in Baltimore in March 2024.
The National Transportation Safety Board (NTSB) has previously expressed concern over MDTA’s failure to assess the Bay Bridge for ship-strike risks, especially since it had already identified the structure as vulnerable.
The collapse of the Francis Scott Key Bridge, when a container ship struck one of the bridge’s columns and killed six construction workers, and caused billions in damage, brought increased scrutiny to older US bridges over navigable waterways.
According to the NTSB, the Key Bridge collapse could have been avoided if a proper risk analysis and pier protection were in place. After the incident, the board requested 30 bridge-owning agencies across the country to assess 68 aging and at-risk bridge spans.
MDTA, which owns both the Key Bridge and the Bay Bridge, was specifically named for not having completed the Bay Bridge assessment at the time.
MDTA says the risk analysis for the Chesapeake Bay Bridge has been completed. The agency spent $600,000 on the study, which was carried out by engineering firm Moffatt & Nichol, a recognised expert in ship-strike analysis.
Their findings showed that the twin spans, built in the 1950s and 1970s, do not meet current safety standards set for modern bridges.
While the bridge still complies with federal requirements for legacy structures, MDTA acknowledged that it does not meet current guidelines for vessel collision protection recommended by the American Association of State Highway and Transportation Officials (AASHTO).
The agency stated that federal law does not require modifications for bridges that already have valid permits, but said it is voluntarily choosing to improve safety.
The planned upgrades include adding stronger pier fenders and constructing large protective structures called dolphins, rock and concrete islands designed to shield bridge piers from runaway ships.
The total estimated cost for this fortification project is around $160 million.
MDTA also shared a list of short-term safety measures being considered. These include changes in communication protocols for vessel pilots, reducing ship speeds near the bridge, managing vehicle traffic more strategically, and possibly introducing one-way transits for ships.
However, tugboat escorts are not currently part of the plan.
Although MDTA had previously shared early plans for pier protection, the agency’s recent letter to the NTSB formally confirms its commitment.
The NTSB’s recent review found that many bridges across the US were built long before ship-strike threats were fully understood.
The Key Bridge, for example, was found to be 30 times more likely to suffer a ship strike than what is acceptable under modern standards.
A separate analysis by Johns Hopkins University suggested the Bay Bridge could be hit once every 86 years, compared to once every 48 years for the now-collapsed Key Bridge.
Although the ship has never been hit by a large vessel but a ship near-miss due to a steering issue last year led to a rare temporary closure of the span.
In response to the NTSB’s criticism, MDTA officials said they are developing a full risk-reduction strategy and expect to begin designing the fortifications by summer.
While a final timeline has not been confirmed, earlier estimates suggested that the work could be completed between winter 2027 and 2028.
As the twin spans of the Bay Bridge approach the end of their expected lifespan, MDTA’s chief engineer mentioned earlier this year that the new protective infrastructure could eventually be incorporated into a future replacement bridge.
Despite NTSB Chair Jennifer Homendy’s public warning in March urging people to think twice about crossing the Bay Bridge, MDTA’s executive director later reassured the public that the bridge remains safe for travel.
Reference: thebaltimorebanner
Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Disclaimer : The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
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22 April 2025
Marine Link
Denmark To Spend $600 Million On Naval VesselsDenmark will spend about 4 billion crowns ($614 million) on building and procuring 26 navy vessels for patrolling, oil spill response and surveillance of undersea cables, Defence Minister Troels Lund Poulsen said on Tuesday.
Countries bordering the Baltic Sea are on high alert after a number of outages of power cables, telecom links and gas pipelines since Russia's invasion of Ukraine in 2022, including sabotage of the Nord Stream gas pipelines. Russia has denied it was behind the outages.
The NATO military alliance has boosted its presence with frigates, aircraft and naval drones. One concern has been the so-called shadow fleet - vessels used by Russia to move oil, arms and grains around in violation of sanctions.
"The threats we face at sea today are different and far more serious than just a few years ago. In particular, we need to respond to a threatening Russia, while technological development is moving at lightning speed," Poulsen said in a statement.
"With the agreement on the naval plan, we are initiating several urgent procurements that are the first step in enabling Danish maritime defence to counter a wider range of threats."
After more than a decade of drastic cuts in defence spending, Denmark last year allocated 190 billion Danish crowns for its military over a 10-year period.
The Nordic country is primarily aiming to protect submarine cables and pipelines for energy production and transmission, and to boost protection against potential threats to the marine environment in Danish waters from the Russian shadow fleet.
In addition to the 26 vessels, Denmark will acquire drones and sonar systems, which can monitor and identify unwanted underwater activity, the ministry said.
The government said it was aiming for many of the vessels to be built in Denmark, including in cooperation with its NATO allies, but provided no further details.
($1 = 6.5142 Danish crowns)
(Reuters)port-and-ship
22 April 2025Marine Link
Imabari Maritime Fair “Bari-Ship 2025”Imabari Maritime Fair, "Bari-Ship 2025" is schedule to be held from May 22- 24, 2025 at Texport Imabari (Imabari, Japan).
"Bari-Ship" is the largest international maritime exhibition in Western Japan, held every two years in Imabari, Japan’s leading maritime city. The event serves as a venue for maritime industry professionals from not only Japan but around the world to gather, engage in business matching, and exchange information.
This year's exhibition will be the largest ever, with exhibitors from 380 companies from 24 countries, and is expected to attract approximately 20,000 visitors during the three-day exhibition.
General InformationExhibition Name: Bari-Ship 2025Dates: 22 – 24 May 2025 / 10am – 5pm (until 4pm on the last day) * Open to the general public on the last dayVenue: Texport ImabariOrganizer: Informa Markets Japan Co LtdIn Partnership with: Imabari city, Imabari Maritime City Promotion CommitteeSupporters: Ministry of Land, Infrastructure, Transport and Tourism, The Japanese Shipowners' Association, Japan Federation of Coastal Shipping Associations, The Shipbuilders' Association of Japan, The Cooperative Association of Japan Shipbuilders, Japan Ship Exporters' Association, Japan Ship Machinery and Equipment Association, ClassNK, The Japan Shipping Exchange, Inc, The Japan Society of Naval Architects and Ocean Engineers.
The Largest ever, Showcasing the Latest Products, Technologies, and Services
A new exhibition area called "M Zone" will be set up at Imabari Port, making this the largest exhibition in the event’s history. Approximately 380 companies from 24 countries will be exhibiting, offering an opportunity to see, touch, and experience the latest developments in the maritime industry.
A Platform for the Future of the Maritime Industry and the Development of Next-Generation Talent
"Bari-Ship" will host forums discussing future trends in the maritime industry and seminars introducing the latest technological trends. The final day of the exhibition will be open to the public to promote familiarity with ships and the sea, offering a variety of events aimed at nurturing the next generation of talent.
Onboard TourSIM-SHIP1 mk2 "Churasan"Produced by: SIM-SHIP / NAIKEN R&DVenue: Bari-Ship 2025 “M Zone” (Imabari Port)This 499 GT cargo ship is equipped with an advanced air lubrication system, a container type battery system, and various digital equipment. The vessel is open for inspection.
Opening CeremonyDate and time: May 22, 2025, 9:30am - 10:00amVenue: Texport Imabariport-and-ship
21 April 2025Marine Link
Nuwc Division Newport: $2 Billion Impact On Economy In 2024The total funded program of the Naval Undersea Warfare Center (NUWC) Division Newport reached $2 billion in 2024, according to the recently released economic impact report.
Of its total operating budget, $776 million was spent by Division Newport in civilian payroll and labor, materials, operational expenditures, property maintenance and repair, and military payroll, while $1.2 billion funded contracts.
One of two divisions of the Naval Undersea Warfare Center, Division Newport has a workforce comprised of 51% government civilian employees, 48% support contractor employees and 0.38% military staff. These employees reside in Rhode Island (68%), Massachusetts (23%), Connecticut (4%) and other areas of the United States (5%).
Of the full-time government civilian staff, 73% are classified as scientists or engineers, with 86% of the workforce holding a four-year degree and 36% holding an advanced degree. The average government civilian salary is $122,000, according to the report.
Of the approximately $1.2 billion spent on contracts, small business obligations accounted for about $356 million. Roughly 95% of Division Newport's contract obligations paid for new services in Rhode Island, and 94% percent of fiscal year 2024 contracts were competitively awarded. The fiscal year ran from Oct. 1, 2023, to Sept. 30, 2024.
Academic and intellectual outreach in 2024 included 12 science, technology, engineering and math (STEM) programs and 31 educational partnerships that totaled $1.24 million in funding and reached 16,484 students in pre-kindergarten through grade 12. Division Newport had 89 active cooperative research and development agreements (CRADAs), 74 collaborative projects with academia and employees published 176 technical papers. Between fiscal years 2020 and 2024, Division Newport employees have generated 162 patented inventions.
Division Newport operates under the Navy Working Capital Fund (NWCF) model, which means it receives funds from multiple “customers” to execute tasking within its assigned mission. Those utilizing the NWCF model receive no directly appropriated funding and operate like a nonprofit business with a “customer-provider” relationship. Division Newport’s incoming funds for fiscal year 2024 totaled $2.0 billion.
The Navy and Marine Corps represented Division Newport’s largest customer with $982 million in funding. The next largest were private parties at $23 million, other Department of Defense outfits at $14 million, and the Air Force with $10 million. Incoming funds from the Army and other government organizations represented approximately $3 million.port-and-ship
21 April 2025Hellenic Shipping News
Leading Maritime Charities Partner To Launch Industry-First Programme To Support Neurodivergent Seafarersin International Shipping News
18/04/2025
As part of our ongoing efforts to foster greater equity, diversity and inclusion within the maritime space, NeurodiversAtSea, the Seafarers Hospital Society and The Seafarers’ Charity are delighted to announce the launch of an industry-first project to provide tailored support to neurodivergent seafarers.
The project builds upon research conducted by NeurodiversAtSea which identified a lack of industry support for neurodivergent seafarers, with just two out of 118 survey respondents reporting their employer provided any form of assistance to access formal assessments or diagnosis. Additionally,62% of respondents reported no specific assistance for neurodivergent employees.
By making £9,761 available to UK-based seafarers as part of an initial pilot scheme, this project aims to provide grant funding for seafarers who suspect they’re neurodivergent to pursue a formal diagnosis, enabling them to access reasonable adjustments for exams and from their employer.
With up to 15% of the UK population being neurodivergent, including an estimated 1.2 million autistic individuals and 2.2million with ADHD, alongside other conditions such as dyslexia, dyspraxia and dyscalculia, this project takes an important step towards unlocking an under-utilised talent pool for Maritime within the UK.
Sandra Welch, CEO at Seafarers Hospital Society (Copyright: Seafarers Hospital Society)
The project seeks to provide an alternative to lengthy waits for formal assessments via the NHS, which are up to 3 years in some areas, and will fund formal diagnostic assessments and in some cases expenses related to attending these appointments for; ADHD, autism, dyslexia, dyspraxia, dyscalculia and other specific learning differences. The funds will be administered and distributed by the Seafarers Hospital Society, on behalf of NeurodiversAtSea.
Commenting on the launch, Sandra Welch, CEO of the Seafarers Hospital Society said “Diversity, equity and inclusion are integral to a healthy and happy workplace, which is why we’re delighted to be partnering with NeurodiversAtSea, enabling neurodivergent seafarers to access the right assessments and support whilst working at sea”
Echoing this, Daniel Smith, Founder and Chair of NeurodiversAtSea said “Neurodivergent individuals face countless barriers preventing them from having a fulfilling career at sea. This leads to burnout, and people leaving the industry early. By providing access to a formal diagnosis, we enable neurodivergent seafarers to access support – allowing them to reach their full potential.”
Tina Barnes, Impact Director at The Seafarers’ Charity added: “This important new initiative will enable recognition and support for neurodiverse conditions experienced by seafarers. I am pleased that The Seafarers’ Charity’s trustees have recognised the need to support neurodivergent seafarers with this grant award.”
Source: Seafarers Hospital Societyport-and-ship
18 April 2025Hellenic Shipping News
Xeneta Weekly Ocean Container Shipping Market Update: Average Spot Rates From Far East To Mediterranean Increased 6.8%in International Shipping News
18/04/2025
Average spot rates from Far East to US East Coast and US West Coast are flat during April to stand at USD 3951 per FEU (40ft container) and USD 2910 per FEU respectively.
Average spot rates from Far East to North Europe increased 4.8% on 15 April to stand at USD 2457 per FEU.
Average spot rates from Far East to Mediterranean increased 6.8% on 15 April to USD 3270 per FEU.
Average spot rates from North Europe to US East Coast remain flat during April at 2158 per FEU.
Average spot rates on all fronthaul trades are down from 1 January:
Container shipping capacity on trades from Far East to North Europe set to hit all-time high in week commencing 14 April (capacity data based on four week rolling average).
Previous record set during Covid-19 disruption in November 2021 when 336,800 TEU of capacity was offered from Far East to North Europe.
Xeneta analyst insight – record capacity from Far East to North Europe
Peter Sand, Xeneta Chief Analyst:
“We are looking at record-breaking container shipping capacity leaving the Far East for North Europe this week, which means carriers know something is boiling.
“At the same time as record capacity, we are seeing an uptick in spot rates from the Far East to North Europe. This suggests a nervous market, but the demand must also be there to put upward pressure on rates.
“The question is whether this record capacity and rate increase is a consequence of the tariff threat if shippers are redirecting goods from the Far East to Europe instead of the US. What we can say is that this is usually a slack time of year for container shipping, so an uptick in pressure is likely related to the tariffs in some way.
Xeneta analyst insight – congestion in North Europe ports
Peter Sand, Xeneta Chief Analyst:
“We are seeing heavy port congestion in North Europe including Antwerp, Le Havre, London Gateway and Hamburg, but the main cause is likely weather, crane maintenance, labor unrest and strikes, rather than tariffs.
“However, if we are seeing record levels of capacity leaving the Far East this week, there could be carnage by the time these ships arrive in North Europe, if congestion is still high.
“Average transit time from the Far East to North Europe is 55 days, so there could be serious issues on the horizon in June. As we saw in 2024, congestion is toxic for ocean container shipping and can quickly spread across global supply chains.”
Source: Xenetaport-and-ship
18 April 2025Hellenic Shipping News
Lloyd’S Register And Pusan National University Partnership To Drive Innovation In Liquefied Hydrogen Carrier Technologyin International Shipping News,Shipping: Emission Possible
18/04/2025
The partnership aims to advance liquefied hydrogen carrier technology, promoting sustainable and zero-emission maritime transport.
Lloyd’s Register (LR) has signed an agreement with the Hydrogen Ship Technology Center at Pusan National University (PNU) in Korea, forming an international partnership aimed at advancing liquefied hydrogen carrier technology and cryogenic engineering.
The Memorandum of Understanding (MoU), signed on 16 April at LR’s Busan Office, establishes a strategic collaboration focused on developing liquefied hydrogen as a clean and scalable energy source.
Through this new partnership, LR and PNU will collaborate across a wide range of activities, including joint research and technology development, the exchange of technical expertise, international academic cooperation, and shared policy development. The agreement represents a significant step forward in accelerating the commercialisation of liquefied hydrogen carriers and ensuring that they are designed, built and operated to the highest international safety and performance standards.
PNU, home to Korea’s first university-based institute specialising in eco-friendly ships, is helping to address the challenge. As the lead organisation behind the ‘Hydro Ocean K’ project, the world’s largest liquefied hydrogen carrier currently in development, the university is contributing to the future of zero-emission maritime transport.
Sung-Gu Park, President – North East Asia, Lloyd’s Register, said: “We have taken an important first step towards the development of liquefied hydrogen carriers and cryogenic engineering technology. This agreement will serve as a significant turning point, allowing us to advance in the key areas of the future hydrogen economy through differentiated international exchange activities based on world-class cryogenic technology.”
Dr Jae-Myung Lee, Director of the Hydrogen Ship Technology Center, said: “The collaboration between our university and Lloyd’s Register is a differentiated international exchange activity based on world-class ultra-low temperature technology. It will be an important turning point for further advancement in the utilisation of liquid hydrogen, a key field in the future hydrogen economy.
“We will make joint efforts to create synergies in the development of ultra-low temperature research, an unexplored field for human society.”
Source: Lloyd’s Registerport-and-ship
18 April 2025Hellenic Shipping News
Dcsa’S Track & Trace Standard Ready For Use In The Port Of Rotterdamin Port News
18/04/2025
Digital Container Shipping Association (DCSA), a neutral, non-profit organisation driving standardisation and digital innovation in container shipping, today announced the Port of Rotterdam has become the first major port to include the DCSA’s industry-leading Track & Trace (T&T) Standard in its Port Community System (Portbase), significantly enhancing container tracking and visibility at one of the world’s busiest ports, and the main gateway to Europe.
This success is the result of a unique collaboration between the Dutch Ministry of Infrastructure, Portbase (the port community system for Dutch ports) and DCSA – as part of the Digital Infrastructure Logistics (DIL) Programme of the Netherlands. The standard allows cargo owners to know the whereabouts and status of their goods from door to door, regardless of the IT systems or logistics service providers they use. It is expected that a future full-scale integration of the DCSA T&T standard in Portbase will ensure export processes are more efficient, reliable and transparent for companies moving their goods through one of the busiest ports in the world.
Already widely used by DCSA’s members, the standard supports more than 180 million monthly container tracking events globally, covering 75% of global container shipping volume. The inclusion of the standard in the Port of Rotterdam confirms the status of DCSA’s standard as the de facto T&T standard for the global container shipping ecosystem. The collaboration will continue as the parties are currently considering implementing DCSA standards in a new Track and Trace service.
A Portbase spokesperson said:
“Integrating the DCSA standards was relatively easy because of the well documented specifications and the use of modern technology, such as API instead of EDI messages. Collaboration with the DCSA team was successful.”
Adriaan Zeillemaker, Deputy Director of Maritime Affairs (and Head of Multimodal Freight Transport and Pipelines) at the Ministry of Infrastructure and Water Management, said:
“This partnership between DCSA, Portbase and the Dutch ‘Data In Logistics’ innovation program illustrates how public-private cooperation functions in the context of digital infrastructure: each party leverages its strengths, and together we build a resilient system.”
Thomas Bagge, CEO of DCSA, said:
“We are proud and honoured that our standards are recognised and being used as a basis for supply chain efficiency and visibility in one of the world’s main trading nations and biggest ports. We look forward to deepening our collaboration with the government and ports in the Netherlands and other markets to increase the widespread adoption of digital standards in the global supply chain.”
Source: Digital Container Shipping Association (DCSA)port-and-ship
18 April 2025Hellenic Shipping News
Exports Of Sanctioned Russian Arctic Oil To China Set To Rise In April, Sources Sayin Freight News
18/04/2025
Russia’s exports of Arctic oil to China are set to rise sharply in April after sellers offered wide discounts and shipment on non-sanctioned tankers to counter a U.S. embargo, analytics firm Vortexa and two Russian oil traders said.
A tenth of Russia’s seaborne oil exports make up the Arctic oil business disrupted by Washington’s sweeping sanctions levied in January on nearly all tankers carrying supplies of grades such as ARCO, Novy port and Varandey, and producer Gazprom Neft.
To evade the curbs, such cargoes go through international waters off Singapore and Malaysia to be transferred to Very Large Crude Carriers (VLCC) that have not been sanctioned, a process known as ship-to-ship (STS) transfers, before heading to China, said the traders and Vortexa senior analyst Emma Li.
Li estimated at least 4 million barrels of Arctic oil completed STS last week and 16 million more have arrived, or will arrive, in the South China Sea this month.
China’s Arctic oil imports are set to rebound, given the ample supply, but the volume eventually discharged would vary, depending on logistics hurdles and buying interest from Chinese refiners, she added.
Lukoil and Gazprom Neft did not immediately respond to Reuters’ requests for comments.
China imported 25,000 barrels per day of Arctic oil in March, according to Vortexa.
One of the traders said such transfers are used because many Chinese buyers require oil to be shipped on non-sanctioned vessels so as to avoid the risk of secondary sanctions and are willing to pay higher prices for these cargoes.
For example, non-sanctioned VLCC Atila loaded 2.07 million barrels of ARCO from two sanctioned tankers in March in Greater Singapore waters and discharged the cargo at the Dongying port at eastern Shandong province in April, Kpler data shows.
Atila previously engaged in STS transfers for Iranian oil.
Arctic grades are produced in Russia’s northern regions, where harsh weather affects output and logistics, so that setting up an oil project requires gigantic investments.
Light Varandey oil is produced by Lukoil, while Gazprom Neft is a producer of light Novy port and heavy ARCO.
However, these shipments now take two months to reach China as the tankers are travelling via the Suez Canal, with the STS adding to shipping costs, while the shorter North Sea Route (NSR) to China is closed until July, traders said.
“It’s a very long and expensive route,” one trader said. “The only idea is to evacuate barrels.”
Light Arctic oil is offered at discounts against Brent prices, down from premiums previously, the traders said.
India, previously the top buyer of Arctic oil, has cut purchases due to sanctions, traders said. Arctic oil going to India is mostly Varandey supplied by Litasco, they added.
This month, Indian authorities barred a tanker from transferring its Russian oil cargo to another vessel at sea.
Other Arctic oil buyers include Syria, with the first shipments taking place earlier this year, and Myanmar.
Source: Reutersport-and-ship
18 April 2025Hellenic Shipping News
Trade War Fallout: Cancellations Of Chinese Freight Ships Begin As Bookings Plummetin International Shipping News
18/04/2025
U.S. importers are being notified of an increase in canceled sailings by freight ships out of China as ocean carriers try to balance the pullback in orders resulting from President Trump’s tariffs and the escalation of tensions in the trade war.
A total of 80 blank, or canceled, sailings out of China have been recorded by freight company HLS Group. It wrote in a recent note to clients that with the trade war between China and the U.S. leading to a demand plummet, carriers have started to suspend or adjust transpacific services.
Major ocean freight alliance ONE has “suspended until further notice” a route it had previously been planning to bring back in May, which would include ports of Qingdao, Ningbo, Shanghai, Pusan, Vancouver, and Tacoma. Meanwhile, an existing route is planning to cancel its port call at Wilmington, North Carolina.
The impact of the diminished freight container traffic to North America will be significant for many links in the economy and supply chain, including the ports and logistics companies moving the freight. If each sailing was carrying 8,000 to 10,000 TEUs (twenty-foot equivalent units), that would equal a decline in freight traffic of between 640,000-800,000 containers, and lead to decreased crane operations at the ports, lower fees that could be collected, and declines in container pick-ups and transports by trucks, rails, and to warehouses for storage.
The World Trade Organization warned on Wednesday that the outlook for global trade has “deteriorated sharply” in the wake of Trump’s tariffs plan. JB Hunt shares hit their lowest level since November 2020 after commentary during the trucking company’s earnings call about the uncertainty from tariffs.
“We have no way of knowing how significant this drop in orders will be on vessel schedules,” said Alan Murphy, CEO of Sea-Intelligence. “There are no models to extrapolate this. What I can tell you is the majority of containers on the vessels servicing the Asia to U.S. trade routes is China. We won’t go to zero containers, but we will see a decrease in containers and as a result, in the future, we will see a massive raft of blank sailings announced.”
China accounts for approximately 30% of all U.S. containerized imports (down from 37% in 2018), but accounts for approximately 54% of all U.S. containerized imports from Asia (down from 67% in 2018).
Bruce Chan, director of global logistics & future mobility for Stifel, said the tariff policy has created significant uncertainty with respect to consumer demand, and retailers have been positioning their businesses conservatively with inventory, especially given “scar tissue” from the recent overstock after the post-Covid supply chain squeeze from 2021-2022. “That uncertainty is beginning to manifest in blanked container ship sailings on core eastbound transpacific lanes, in our view, opening the potential for a double-digit decline in inbound containerized imports as early as next month,” he said.
Booking volumes from the last week of March to first week of April across global and U.S. trade lanes plummeted. There were sharp decreases in bookings across several categories, including apparel & accessories; and wool, fabrics & textiles, both down over 50%. Major product categories from China that are moved in containers include apparel, toys, furniture, and sports equipment, all of which are subject to steep tariffs.
As a result of the decrease in containers, ocean carriers will not only cancel vessels, but also adjust or cancel vessel routes commonly called “vessel strings,” such as the ONE service from China to Vancouver and Tacoma. These routes dedicating vessels to move the ocean freight at specific ports take months of planning. The elimination of vessels also impacts U.S. exports bound for Asia and relying on ships traveling in both directions.
Ocean carriers need to move full vessels to generate a return on investment, but it is not in their best interest to use large vessels if they cannot be filled. To ensure vessels are used at full capacity, carriers have a number of ways to alter the vessel strings. Stretching out ship arrivals by canceling sailings is an option for container volume to better match capacity. According to Murphy, 99% of vessel services are weekly and it takes a vessel approximately seven weeks to make a round trip.
“During Covid, ocean carriers parked their vessels for maintenance,” Murphy said. “Ocean carriers can also blank (cancel) a sailing, omit vessel strings entirely, use smaller vessels, or slow steam the vessels where they are traveling longer.”
These measures will cut the available vessel capacity for containers, according to Murphy, which helps remaining ships to be filled, with uncertain implications for overall pricing in the ocean freight business. While a decline in sailings could lead to a drop in prices, during Covid, blank sailings were identified by shippers around the world as a reason for container rates that spiked as high as $30,000. In that case, shippers say the ocean carriers canceled sailings for longer than needed.
Vietnam continues to gain on China
The global supply chain demand and pricing situation remains fluid and subject to sharp short-term swings tied to tariffs policy. As Chinese trade comes under strain, a key metric in ocean freight rates shows Vietnam surging in early April.
The “mid-low” ocean rates, which represent the costs of shipping goods for a larger-sized shipper on a particular ocean route, have jumped by 43% since March 30 for Vietnam. Xeneta calculates the market mid-low and market mid-high segments by looking at the values of the 25 and 75 percentiles of a trade lane rate.
“The fact that the lower end of the market has been rising shows the heat is on,” said Peter Sand, chief analyst at Xeneta. He said that is continuing after Trump’s decision to pause what he called “reciprocal” tariffs on countries other than China for 90 days.
“Shippers large and small all have to pay up for frontloading, as the ‘pause’ made the pulling forward of freight possible again,” Sand added.
This demand from U.S. shippers importing goods can be seen in the increase in container shipping spot rates on the Ho Chi Minh City to Los Angeles ports route, jumping by 24% going into April.
According to data compiled by Xeneta for 2025, the spread between China’s largest container port, Shanghai, and Vietnam’s largest container port, Ho Chi Minh City, has also narrowed per forty-foot equivalent unit (FEU) for shipments to the ports of LA and Long Beach.
Even with increased costs for shippers, they will continue to bring in imports from non-China nations because the situation remains highly unpredictable, Sand said. “There is every possibility the higher tariffs come into effect 90 days from now or even at an earlier stage,” he added.
Source: CNBCport-and-ship
18 April 2025Hellenic Shipping News
Advanced Shipping & Trading – Weekly Shipping Market Report Week 16, 2025in Weekly Shipbrokers Reports
18/04/2025
Chinese Maritime Transport have committed their Capesize “China Progress” 174/2006 SWS, China (SS/DD 06/2026)
Source: Advanced Shipping & Trading S.A.port-and-ship
18 April 2025Hellenic Shipping News
Record-Breaking Carbon Emissions In Ocean Container Shipping: Here’S What Shippers Need To Knowin International Shipping News,Shipping: Emission Possible
18/04/2025
Latest data reveals global ocean container shipping emitted all-time high carbon emissions in 2024, driven largely by the impact of conflict in the Red Sea.
The data, released by Xeneta and Marine Benchmark this week, is a timely reminder that, while the geo-political climate is heating up due to the US tariff announcements, we must not forget the actual climate emergency and the work that needs to be done in supply chains to combat it.
With emissions heading in the wrong direction, it raises fundamental questions around whether the International Maritime Organization’s (IMO) target of net zero by or around 2050 is remotely achievable. Shippers must also understand the impact emissions regulations will have on their business and the role they can play in reducing carbon in supply chains.
Record-breaking emissions
Global container emissions increased 14% in 2024 to 240.6m , comfortably surpassing the previous record of 218.5m tons of carbon set in 2021.
To be clear, this record-breaking statistic should not be used as a stick to beat the maritime freight industry with because it is largely due to ships sailing longer distances around the Cape of Good Hope following the escalation of conflict in the Red Sea in December 2023.
A new record high is the inevitable outcome of these diversions, both in terms of the increase in transport work and the record-high demand of laden containers being moved in 2024 as shippers responded to the Red Sea crisis by frontloading imports. Overall transport work (a measurement of tons of cargo moved multiplied by nautical miles sailed) increased 18% in 2024.
Emissions on the agenda
The record-high emissions data is a timely reminder of the colossal task at hand following a meeting last week (7-11 April) of the International Maritime Organization’s (IMO) Marine Environment Protection Committee (MEPC) in London.
Agreement was reached during the meeting on specific reduction targets on fuel intensity in container shipping, as well as the financial penalties for non-compliance (more details are provided later in this blog).
Biggest increases coming from the biggest ships
Firstly, we must understand the detail behind the record-breaking emissions in 2024.
The biggest increases in carbon emissions came from the largest ships, with these also the ones to experience the biggest increases in transport work.
Emissions from ships between 14 500 and 20 000 TEU hit 24.2m tons in 2024. This is up 7.3m tons (+43%) compared to 2023.
Ships over 20 000 TEU also saw large increases, up 35% from 2023 to 19.6m tons.
The two categories of ships over 14 500 TEU accounted for 18% of total CO2 emissions from the container shipping fleet in 2024, but this statistic is cast in a different light when we consider they make up 25% of total global capacity.
While ships over 14 500 TEU may have had the biggest year-on-year increases, they are perhaps not the main cause for concern.
That is because ships between 8 000 and 12 000 TEU have a much higher share of total emissions.
A higher base in 2023 means the 51.3 million tons of CO2 emitted by this category of ship in 2024 is only up 8% year-on-year. However, these ships account for more than fifth of total emissions despite only making up 20% of global container shipping capacity.
The disproportionate relationship between share of shipping capacity and share of emissions is explained by bigger ships tending to be newer and therefore much more carbon efficient.
Increase in transport work explains much of the emissions growth – but not all…
Across many ship sizes the increase in emissions in 2024 is within a few percentage points of the increase in transport work.
For example, ships between 14 500 and 20 000 TEU saw transport work increase 43%, in line with its growth in emissions.
This significant increase in transport work has in part been made possible by fleet growth of 26% between December 2023 and December 2024 for ships with capacity between 14 500 and 20 000 TEU.
There are however some exceptions where transport work growth and emissions growth aren’t aligned.
On the positive side, emissions increases for smaller size ships are lower than transport work. This is driven by improved efficiency through higher capacity utilization and stable (if not slightly decreasing) average sailing speed.
On a less positive note, the biggest ships over 20 000 TEU saw emissions increase 35% in 2024, more than double the 16.6% transport work growth.
That gap is explained by falling efficiency for these larger ships.
Firstly, sailing speed increased 5% in 2024, which adversely impacts fuel efficiency.
Secondly, the ships saw a drop in utilization, which is measured in tons of cargo carried multiplied by nautical miles sailed divided by TEU capacity in tons multiplied by nautical miles sailed. Or in more simple terms, how much cargo ships carried compared to how much they could have carried based on its capacity.
This utilization measure has fallen by almost 10 percentage points for the biggest ships compared to 2023.
The explanation is quite straightforward – total capacity offered by the largest ships in the fleet has increased, while at the same time, demand growth on key backhaul trades slowed.
This meant ships were even less full on these return legs than they were previously, which eats into a ship’s annual utilization.
Fronthaul volumes, measured in TEU, grew 9.5% in 2024, while demand on backhaul trades rose only 0.9%.
Regulation is coming
Turning attention back to the IMO agreement in London last week, a key standard in this new regulation will be the fuel intensity used by global shipping. This is measured on a well-to-wake basis (including the full life-cycle of the fuel).
Starting in 2028, ships must lower their fuel intensity by a certain percentage compared to the baseline set in 2008.
There are two tiers when it comes to the reduction factors:
Tier 1 – the base target
Set at a 4% reduction in 2028. A ship will pay USD 380 for every ton of GHG emissions above the base reduction target.
Tier 2 – the compliance target
Set at 17% reduction in 2028. A ship falling between the base target and compliance target will pay USD 100 for every ton of GHG emissions or buy remedial units. Any ships outperforming the compliance target will earn surplus units, which can be banked for two years, or traded with non-compliant ships.
Reduction targets will increase every year, with expectations of a 65% reduction in carbon intensity by 2040. Plenty of details still need to fall into place, many of which should come in October 2025 when the agreement is expected to be finalized, and adopted.
While opinions on the deal are mixed, carriers now have more certainty on the path to decarbonization.
Carbon reduction strategy for shippers
We must be realistic when it comes to priorities right now. With the threats of US tariffs on every nation in the world and more than 100% from China, it will be difficult to get carbon emissions in supply chains onto the board meeting agenda at the moment.
However, while there are currently massive financial pressures for shippers, they can still include carbon reduction in their freight procurement strategy.
The carriers are anonymized for this blog (Xeneta customers have visibility of Carbon Emissions Index data in the platform), but it is clear there is a significant spread in performance.
It is important to stress that lower emissions do not always equate to lower freight rates. While it is understandable shippers will be prioritizing the optimal rate during negotiations for their next contract, this does not mean they cannot also factor in carbon emissions, especially when they are choosing between two carriers with similar price and service delivery.
This data is also essential for those shippers looking to move more goods via ocean rather than the more expensive and more carbon intense air cargo.
Source: Xenetaport-and-ship
18 April 2025