Major ports in Europe are grappling with warehousing and storage capacity crises due to Russia and Ukraine cargo pile-up, a situation that has disrupted container shipping operations and thrown global value chains into disarray, the UN Conference on Trade and Development (UNCTAD) has said. UNCTAD, in an assessment of the war in Ukraine and its … Read more
MPC Container Ships is working with the North Sea Container Line to launch the first green corridor along the North Sea with the deployment of Norway’s first methanol-powered containerships. The companies plan to launch the vessels in the second half of 2024 and expect that they can cut net CO2 emissions by 45 percent and … Read more
Proman Stena Bulk, the joint venture between leading tanker company Stena Bulk and the leading methanol producer Proman, has today announced the successful completion of the first ever barge-to-ship methanol bunkering on the US Gulf Coast. The JV tankers Stena Pro Marine and Stena Prosperous were refuelled with methanol via barge while discharging clean petroleum … Read more
Nor-Shipping has revealed the final shortlist for this year’s Next Generation Ship Award, with the winner to be announced on Monday 5 June at Oslo City Hall. The prestigious accolade, now in its tenth year, pits newbuilds, retrofits and conversions against one another, with the title going to the project trailblazing new industry standards for … Read more
Western price caps on Russian exports coincide with steep discounts on Russian crude and diesel — but not because of the caps themselves. There are fewer buyers of Russia’s exports, with the EU, U.S., U.K. and Australia banning cargos altogether and others pulling back in fear of future sanctions. The lower the competition, the lower … Read more
Drewry’s composite World Container Index increased by 4% to $1,773.58 per 40ft container this week – the first increase in 15 weeks. Our detailed assessment for Thursday, 20 April 2023 • The composite index has increased by 4% this week, but has dropped by 77% when compared with the same week last year. • The … Read more
Despite all the reports that congestion is declining in many ports around the world as demand has softened, the major carriers have not been able to make significant gains in overall schedule reliability. The overall performance remains behind 2021 in spite of a decline in average delays. Analysts are beginning to believe that the industry … Read more
