Sanctions effect begins: Crude tankers forced onto longer voyages

Tanker investors have been getting cold feet this winter. Spot rates are down sharply from November and stocks are off earlier highs. Yet the bullish tanker thesis — war-induced trade inefficiencies, post-COVID reopening, new vessel capacity that’s about to fall off a cliff — hasn’t changed.

After spot rates “began to ease from highs that were completely unsustainable” came “the predictable selloff in the equities,” said Evercore ISI analyst Jon Chappell in a research note on Friday.

“We’ve been...

https://www.freightwaves.com/news/sanctions-effect-begins-crude-tankers-forced-onto-longer-voyages

206 Anna Wu, Project Logistics Specialist, China

The maritime industry from the view of a young Chinese woman

I received an email from a loyal listener in Shanghai who is entering her career in the maritime industry and wanted to tell me how much the Shipping Podcast has meant to her.

Of course, I wanted to speak to her and hear what she had to say about our industry not being so visible and unable to reach the #nextgeneration with our message to come and work.

In episode 206, you meet Anna Wu, Project Logistics Specialist in China. We speak...

https://shippingpodcast.com/206-anna-wu-project-logistics-specialist-china/

Hapag-Lloyd acquires stake in Indian terminals, logistics provider

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

Hapag-Lloyd on Wednesday signed a binding agreement to acquire a 35% stake in J M Baxi Ports &...

https://www.freightwaves.com/news/stronghapag-lloyd-acquires-stake-in-indian-terminals-logistics-providerstrong

Container shipping shake-up: Maersk, MSC terminating 2M in 2025

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

The global container shipping network is poised for a major shake-up. The 2M vessel-sharing alliance...

https://www.freightwaves.com/news/container-shipping-shakeup-maersk-and-msc-to-terminate-2m-in-2025

CargoX proof of concept showcases interoperability for global trade eBOLs

Document transfer solutions provider CargoX says that by utilizing blockchain technology, it recently concluded an electronic bill of lading (eBOL) transfer with a competing provider, edoxOnline, within six minutes, a process that traditionally takes hours or even days.

The potential benefit of that streamlining is highlighted by a recent McKinsey study showing that 40% of containerized trade still relies on the transfer of paper record copies with up to 50 sheets of paper from up to 30...

Gulf Coast ports see record container volumes in 2022

Ports in both Houston and Corpus Christi, Texas, along with the Port of New Orleans and the Port of Mobile, Alabama, saw increased volumes in 2022 as imports of steel, automotive parts, and lumber and plywood continued to flood into the country and demand for exports of U.S. petroleum and crude oil remained strong.

Port Houston sets annual record with 3.97 million TEUs 

Port Houston set a container volume record in 2022 by moving 3.97 million twenty-foot equivalent units, its highest total ever...

https://www.freightwaves.com/news/gulf-coast-ports-see-record-container-volume-in-2022

Rough start to 2023 for dry bulk, tanker, gas, container shipping

A photo of a crude tanker; shipping rates have recently fallen.

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

“Spot rates are off to a slower start in 2023 across most shipping segments,” conceded Jefferies...

https://www.freightwaves.com/news/rough-start-to-2023-for-tanker-dry-bulk-gas-container-shipping

White House touts easing of supply chain pressures

The White House has outlined progress on commitments made over the last two years to ease supply chain backups caused by the pandemic but failed to acknowledge recent signs that improvements have been losing steam.

“Just over two years ago, then-President-elect Biden addressed the nation in a prime time speech to propose his economic agenda: a plan for a strong, worker-centered economic recovery from the pandemic, followed by long-term investments to lay the foundation for more durable,...

https://www.freightwaves.com/news/white-house-touts-easing-of-supply-chain-pressures

East Coast container imports still far above pre-pandemic levels

chart showing container imports by coast

East Coast ports continue to rack up wins versus West Coast rivals. Port announcements in recent days highlight just how much ground the East Coast has gained during the pandemic era.

The latest stats also reveal that the sequential month-on-month volume slide from the pandemic peak may be slowing, even at some of the hardest hit ports on the West Coast.

Month-on-month numbers improving

The Port of Los Angeles reported Thursday that it handled 352,046 twenty-foot equivalent units of loaded imports...

https://www.freightwaves.com/news/east-coast-container-imports-still-far-above-pre-pandemic-levels

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