Container shipping is under pressure from large amounts of new capacity coming into the fleet, however, events in the Red Sea are boosting spot rates at least in the short-term.
As the Isle of Man registry celebrates the Berge Olympus as the most powerful sailing ship in the world the focus on wind power could swing the maritime industry behind a technological renaissance.
French firm Louis Dreyfus Armateurs and its subsidiary LD Seaplane has ordered three wind-assisted ro-ros from CSSC Wuchang Shipbuilding for use by Airbus.
Italian startup container line Kalypso has filed for bankruptcy following a collapse in freight rates and the disruption of its services to Israel, reported Italian media.
As the EU Emissions Trading System (EU ETS) became enforceable from 1 January conflict in the Red Sea has seen many vessels divert to the much longer route around the Cape of Good Hope, both impacting container freight rates.
The EU’s Emission’s Trading System for shipping, the resurgence of piracy, and electronic trade documentation are all trends to keep a watchful eye on in the new year according to Keystone Law.
Three container ships, one each from MSC, Maersk and CMA CGM, were identified on VesselsValue AIS heading south in the Suez Canal towards the Red Sea danger zone despite the carrier’s saying they had re-routed vessels around the African Cape.
