How IMO 2020 turned into the Y2K of ocean shipping

bulk ship with scrubbers

FreightWaves to shipping analyst: “So, we’re doing a follow-up story about IMO 2020 and scrubbers …” 

Analyst to FreightWaves: “Oh, Jesus.”

IMO 2020 is the Y2K of ocean shipping. After years of dire warnings on fallout to world trade — and dubious pitches on stocks poised to profit — the IMO 2020 regulation ended up being a damp squib. What went so wrong with all the forecasts? And is this story really over for vessel owners, cargo shippers and stock investors?

The short answers are “coronavirus”...


Port of LA’s Seroka calls for US focus on exports

Port of Los Angeles Executive Director Gene Seroka called for a national export program to narrow the trade gap between the United States and China during an appearance on CNBC’s “Squawk Box Asia” this week.

“We are now at five imports to every export and that’s the widest trade gap we’ve witnessed at the Port of Los Angeles in some time,” Seroka told hosts Rosanna Lockwood and Sri Jegarajah on Thursday.

He said that import-export imbalance puts pressure on the port’s service providers and does...


146 Mark Bell, General Manager, The Society for Gas as Marine Fuel

In episode 146 we meet Mark Bell, General Manager, The Society for Gas as Marine Fuel, and we speak about the fuels roadmap to 2030/2050 and what needs to be done now in order for us to achieve the goals set.

We cover a lot in this episode, bunker infrastructure, safety, alternative fuels, sulphur, carbon, regulations, engines – but also how to make the shipping industry more visible to the general public.

Mark is an engineer and he has been working for classification societies after he sailed...


Port Houston: Bigger ships need wider channel

Port Houston officials say widening of the shipping channel is necessary to accommodate increasingly bigger vessels and maintain its status as a big driver of the Texas economy.

“When you add it all up, the ship channel area is really responsible for 1.35 million jobs in Texas, over 3 million nationwide, $339 billion in economic impact … in the state and $800 billion nationwide. And if you think about the GDP of the state of Texas, it’s about $1.4 trillion and so the impact of the ship channel...


Ocean carrier group seeks dray truckers’ chassis complaint dismissal

Federal Maritime Commission

A group of ocean carriers that has been accused of abusing its commercial position in how it secures container chassis wants a complaint brought before the U.S. Federal Maritime Commission (FMC) dismissed.

The American Trucking Associations’ Intermodal Motor Carriers Conference (IMCC) alleged in its Aug. 17 complaint to the FMC that the Ocean Carrier Equipment Management Association (OCEMA) and its 10 carrier members use “unjust and unreasonable” chassis provision model practices by “requiring...


Chinese container factories are now sold out until February


Watch the containers to see which way the economic winds will blow. How many are ordered, for when and for how much. And if you do, you’ll see that box demand is strong — not just through year-end, but into 2021. 

Three of the largest container-equipment lessors — Triton (NYSE: TRTN), Textainer (NYSE: TGH) and CAI International (CAI) — conducted virtual presentations for institutional investors over the past week, hosted by Keefe, Bruyette & Woods (KBW). Notes on those presentations provided...


HMM may explore autonomous ships, trans-Atlantic trade

HMM said it will use data collected at its newly opened fleet control center in part to explore the commercial viability of autonomous ships. The South Korean carrier also may be exploring reentry into the trans-Atlantic trade.

HMM has begun monitoring and directing operations of its existing vessels from the control center at the shipping line’s research and development facility in Busan, South Korea.

The HMM fleet includes 12 newbuilds, each with a capacity of 24,000 twenty-foot equivalent...


US chassis providers stay on roll to radial tires

container chassis

U.S. container chassis providers say they aim to have their fleets bias-tire free by 2023.

During the past decade, these operators — namely Direct ChassisLink (DCLI), TRAC Intermodal, FlexiVan and the North American Chassis Pool Cooperative (NACPC) — have spent tens of millions of dollars a year to convert their chassis fleets from bias-ply to radial tires.

Val Noel, chief operating officer for TRAC Intermodal (Photo: Courtesy)

“It’s a big-ticket item for us, but it’s the right thing to do,”...


Largest LNG-powered container ship making maiden voyage

The world’s largest container ship powered by liquefied natural gas (LNG) launched on its maiden voyage Wednesday. 

The CMA CGM Jacques Saadé is the first of the French shipping line’s nine planned 23,000-twenty-foot-equivalent-unit (TEU) container ships powered by LNG. The vessel is named in honor of the CMA CGM Group’s founder, the late Jacques Saadé.

CMA CGM said the Jacques Saadé will sail on its “most emblematic line,” between Asia and Northern Europe, launching in Pusan, South Korea, and...


Commentary: What products are US consumers buying?

The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates.

The record volumes of Chinese imports into the United States, and the soaring rates that have been attached to the freight, have garnered headlines for months. Looking ahead to the incoming China exports, the increase in volumes shows no signs of slowing.

Container volumes for Long Beach, LA and New York are very encouraging,” said William George, analyst with...