What’s in store for the shipping industry in 2023?

The Covid-19 pandemic, followed by Russia’s invasion of Ukraine, has had a dramatic, and ongoing, impact on the global shipping industry. The containership market reached record highs, generating unprecedented returns – but the bonanza is over.

While one sector collapses, others are booming. The tanker market has sprung to life with the impact of Russia’s war on Ukraine fundamentally reshaping global trade routes; meanwhile, liquefied natural gas (LNG) carriers are the hottest ticket in town as...

Promising Development Towards Effective Climate Regulations

Credits: Roman Fox/Unsplash

In its first in-person session in three years, the IMO Marine Environment Protection Committee 79 (MEPC 79) addressed a broad array of issues, taking important steps forward on the path to impactful regulation to drive the decarbonisation of shipping, reports World Shipping Council.

Energy transition

Current proposals before the IMO on mid-term measures to drive the energy transition of shipping address different components of what WSC regards as Six Critical...


Shipowners Rake in Profits Amid Energy Crisis And War!

Matthew Henry/Unsplash

Global crises and geopolitical chaos are bad for most businesses. The focus at Marine Money’s New York Ship Finance Forum on Thursday was on the worsening global energy crunch, the war in Ukraine, looming sanctions on Russia, the evolving situation in China — and how phenomenal the rate outlook is for tankers carrying crude, refined petroleum products and liquefied natural gas, reports Freight Waves.

‘The party hasn’t even started yet’

The sweet spot for rates is when...


GoExpedi’s heavy industry procurement platform draws $33M from investors

Procurement and supply chain management platform GoExpedi announced Wednesday it has closed on $33 million in additional funding from new investors Tiger Global, Labyrinth Capital Partners, Cortes Capital (Love’s private equity group), I2BF and FJ Labs to continue growing its technology for heavy industry.

GoExpedi last raised $25 million in September 2020. The company has raised a total of $108 million from past investors, including Top Tier Capital Partners, Crosslink Capital, Bowery Capital,...


How will the European energy crisis affect freight markets?

Volatility in European power markets stemming from EU and U.K. sanctions against Russian energy — imposed in retaliation for Russia’s invasion of Ukraine in February — may soon cool off, but only after carving a slice out of the continent’s economy. 

On Monday, U.K. Prime Minister Liz Truss announced plans to cap household energy bills at the equivalent of $2,300 annually. Meanwhile, German Chancellor Olaf Scholz unveiled a 65 billion euro relief package to ease the pain of energy prices that...


China Capitalizes On Soaring Energy Prices

Federal Reserve chair Jerome Powell signalling that the U.S. central bank will probably continue to raise interest rates  combined with the aftermath of warnings that the Organization of the Petroleum Exporting Countries (OPEC) may reduce oil output to better align prices with fundamentals resulted  in mixed crude trading on Friday – but a weekly gain was still achieved, reports Ship And Bunker.

Restrictive policy

West Texas Intermediate for October delivery fell 54 cents to settle at $93.06,...


CN, Keyera mull creation of new energy terminal in Alberta

Canadian midstream oil and gas operator Keyera and CN are exploring the possibility of creating a clean energy terminal in Alberta, Canada.

The two companies signed a memorandum of understanding to evaluate the endeavor, which they maintain would create infrastructure that could aggregate conventional and clean energy from multiple sources and transport those products.

“This project capitalizes on a core CN strength: sustainably moving Canadian natural resources safely and efficiently to domestic...


Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.