By Mike Wackett (The Loadstar) - US west coast ports suffered most from a “tariff hangover” effect in 2019’s first three months, said Drewry Maritime Research in a new research note today. Transpacific imports were down some 19% on the previous quarter and by 3% year on year. However, PIERS data for the first quarter did record growth for Asia to US east and Gulf coast … [Read more...]
Scrubber Debate Heats Up as EC Calls on IMO to Restrict Use
By Mike Wackett (The Loadstar) - The pro-scrubber Clean Shipping Alliance 2020 has strongly criticised the EC for urging the International Maritime Organization (IMO) to restrict the use of open-loop exhaust gas cleaning systems (scrubbers) in ports around the world. But vessels fitted with scrubbers are in high demand and at least a third of newbuild vessels will have them, … [Read more...]
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...]