Panama Canal Containership Transits Dip in 2019

By Mike Wackett (The Loadstar) - The number of containerships transiting the Panama Canal during its fiscal year ending 30 September declined slightly, by 1.1% to 2,575. But there could be further reductions after ocean carriers announced a number of blanked sailings in the coming weeks on their Asia to US east coast all-water schedules ahead of the slack season. Dry bulk … [Read more...]

BIMCO Proposes Slow-Steaming Alternative to IMO

By Mike Wackett (The Loadstar) - Shipping association Bimco has submitted a new proposal on regulating ships’ power to the International Maritime Organization (IMO) working group. The move is a bid to stimulate debate on reducing greenhouse gas emissions (GHG) from shipping . The proposal to improve the operational energy efficiency of vessels will be introduced at the … [Read more...]

Plug Pulled on Shipping Cryptocurrency

By Sam Whelan, Asia correspondent (The Loadstar) - Hong Kong-based start-up 300cubits will suspend its container shipping cryptocurrency tomorrow, as the industry enters “crunch time” for freight-tech. In 2017, the firm set out to solve container shipping’s “booking shortfall”, a $23bn problem created by five million teu of ‘no show’ and ‘rolled’ cargo every year. By … [Read more...]

Governments Told to Ensure Compliance with IMO 2020

By Mike Wackett (The Loadstar) - The implementation of the IMO 2020 0.5% sulphur cap on shipping from 1 January next year is “a challenge and an opportunity” for member states, according to World Shipping Council president and chief executive John Butler. At the JOC Container Trade Europe Conference in Hamburg last week, Mr Butler said there was “a real possibility for … [Read more...]

Global Container Fleet Tops 23 Million TEU as New Megaships Hit the Water

By Mike Wackett (The Loadstar) - A wave of ULCV deliveries this year has pushed the total containership fleet capacity over the 23m teu mark, with the last million slots added in a breath–taking 14 months, according to an Alphaliner report. However, the newbuilds, mostly consisting of ULCVs, have arrived at a time of softening demand growth across the major tradelanes of the … [Read more...]