Box Carriers Gaining from Oil Price Slump, Brexit and Robust Rates

By Mike Wackett (The Loadstar) - Today’s Shanghai Containerized Freight Index (SCFI) shows a marginal decline in spot rates to North Europe, but there was a jump in rates for the North American market, which is good news for ocean carriers just weeks before new annual transpacific contract negotiations commence. The SCFI recorded a 0.9% fall in spot rates from Asia to … [Read more...]

Scrubber Installation Picking Up Steam Ahead of IMO 2020

By Mike Wackett (The Loadstar) - The number of exhaust gas cleaning systems (scrubbers) being installed on containerships is gathering pace, according to Drewry. It now accounts for 10% of the global fleet by teu capacity, and more than 40% of newbuild vessels are being fitted with the onboard fuel refineries. Currently there are 266 boxships fitted with scrubbers, for an … [Read more...]

Shipping Remains ‘Cautiously Optimistic’, But Wary of Protectionism

By Alex Lennane (The Loadstar) - Protectionist trade policies are continuing to spook the global maritime sector, although a newly released report suggests the industry has “cautious optimism”. The Navis Business Bellwether report, conducted by Business Performance Innovation (BPI), surveyed more than 174 maritime executives on expectations and fears for the coming … [Read more...]

Environmental Group Proposes Speed Limits for Ships to IMO

By Alexander Whiteman (The Loadstar) - Mandatory speed limits could be shipping lines’ best hope of achieving the IMO’s 2030 emissions reduction targets. Shipping officer for lobby group Transport & Environment Faig Abbasov told The Loadstar slow-steaming could “single-handedly” achieve the target. “We’re proposing mandatory limits, based on ship type,” said Mr … [Read more...]

Suspicious Shippers Urge Maersk to Rethink New Fuel Surcharge Plan

By Alex Lennane (The Loadstar) - Shippers have joined forwarders in condemning Maersk’s plan for new fuel surcharges to help recover the additional costs of low-sulphur marine fuel, to be introduced in January. The new charges, on top of existing contract rates, are triggered on the average cost of fuel and a ‘trade factor’ that takes into account cargo flows, with lower … [Read more...]