The FuelEU Maritime regulation provides shipping operators with various compliance options to meet the required GHG intensity of ships over 5,000 GT transporting cargo or passengers in the EU or EEA. A new DNV white paper comprehensively analyses a set of compliance strategies for an 80,000 dwt bulk carrier in a case study. Simulating outcomes for a theoretical case-study vessel demonstrates how different approaches impact expenses and FuelEU compliance over a 20-year period,” says Ola Gundersen Skåre, Consultant, Environment Advisory at DNV and lead author of the paper. DNV study ...

Further improving maritime gender diversity will take action as well as attitude, writes WISTA International President Elpi Petraki, in a final call for submissions to the Women in Maritime survey. Our industry is making steady progress on gender diversity – with more women working in various roles across multiple sectors today than ever before. However, it is vital that we do not kid ourselves. Achieving change has taken unflinching commitment and the drive to break down barriers, not to mention decades of hard work. Furthermore, much remains to be done. ...

The ship recycling market has continued its lackluster mode over the past week. In its latest weekly report, Best Oasis (www.best-oasis.com), a leading cash buyer of ships said that “this week in ship recycling, the markets across all major destinations followed their ongoing trends, some more predictably than others. India saw no improvements—if anything, the market dipped slightly further. However, with Makar Sankranti celebrations in Gujarat, a pause in activity was expected, and there’s hope that things will pick up in the coming week. Bangladesh remains in its usual cycle ...

As January draws to a close, the Capesize Brazil–North China freight market maintains a relatively stable sentiment. Although highs have yet to be achieved, the market remains steady. In contrast, the Panamax Continent–Far East route shows weaker sentiment, weighed down by an oversupply of tonnage that continues to depress freight rates. Shifting focus to the ECSA market for the Panamax vessel size category, there has been a notable surge in the number of ballasters. Meanwhile, the P6 route has plummeted to record lows, revisiting the bottom levels seen in mid-February ...

“In 2024, new crude oil tanker deliveries dropped to a 36-year low as only 17 new tankers, with a capacity of 2.5m deadweight tonnes (DWT), joined the fleet. Compared to 2023, the capacity delivered dropped by 74%,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO. During the year, the recycling of crude tankers increased to 1.7m DWT wherefore the fleet ended only 0.2% larger in 2024 than at the end of 2023, the slowest growth in 23 years. The Aframax and Suezmax segments saw capacity growth of 0.5% and 1.1% ...

Newbuilding ordering activity is starting to pick up again after the recent holiday season break. In its latest weekly report, shipbroker Banchero Costa said that “in the container segment, German company Elbdeich Reederei placed an order of 2 x 1,900 teu with conventional fuel propulsion at Chinese Huangpu Wenchong shipyard. The price of each vessel was reported around $32.2 mln and deliveries are expected at the beginning of 2027. The Chinese shipyard Wuhu secured an order from Hong Kong based Kawa Shipping of 3 x 4,800 teu vessels. The price ...

The time charter (TC) rates for Post Panamax container vessels rose by 111% year-on-year (y-o-y) in 2024, hitting 73,330 USD/Day, and has led to a huge uptick in newbuild orders and a slowdown in demolitions according to Veson Nautical’s ‘2024 End- Of-Year-Report’. The report states that the bullish market conditions for the container sector are reflected in the TC rates as well as the 76% y-o-y increase in new ship orders which witnessed 321 deals including options, compared to 182 orders in 2023. “The container market experienced remarkable growth over ...

Do not expect container lines to immediately return to Suez Canal transits after the Houthis say they will stop attacks on shipping. The return of Donald Trump is another wildcard for the market in a highly unpredictable year. This year was always going to be highly unpredictable, but the range of possible outcomes in the container shipping world has spread even wider over the past few days. Following the start of a ceasefire deal between Israel and Hamas that started 19 January , the Yemini militia Houthis swiftly issued a ...

More ships are expected to enter service during 2025, after a series of newbuilding orders should now materialize into more vessels entering the global fleet. In its latest weekly report, shipbroker Intermodal said that “the year 2025 commenced with uncertainty surrounding both the dry bulk and tanker sectors. Global geopolitical tensions continue to drive market volatility, shaping current sentiment. Additionally, potential new tariffs and sanctions that may be implemented by the newly elected President of the United States could further disrupt supply chains and exacerbate market uncertainty. Amid this unpredictable ...

When we first began developing AI-driven solutions for shipping, we imagined a future where every vessel would operate at its full potential, truly minimising waste and environmental impact. This wasn’t just a technological ambition; it was about redefining what efficiency and sustainability mean for an industry that moves over 90% of global trade. Now, through our partnerships with many of the world’s most advanced operators (most recently with Eastern Pacific Shipping) we’re not just imagining this future… we’re building it, one fleet at a time. Why AI? Shipping is often ...

A significant surge in orders for alternative-fuelled vessels in 2024 is a clear signal of the maritime industry’s acceleration of its decarbonisation journey, according to the latest data from DNV’s Alternative Fuels Insights (AFI) platform. A total of 515 such ships, excluding LNG carriers, were ordered, marking a 38% year-on-year increase compared with 2023. This surge has been primarily driven by the container and car carrier sectors, which accounted for 62% of all alternative fuel orders. In 2024, 69% of all container ship orders were for ships capable of being ...

The tanker market has entered a new reality after last week’s new round of sanctions against Russian entities. In its latest weekly report, shipbroker Gibson said that “on Friday 10th January, the United States sanctioned Gazprom Neft and Surgutneftegaz, two key Russian insurers and 183 ships, including 156 tankers, sending shock waves through the oil and tanker markets. Crude prices have rallied on concerns of potential oil supply disruptions, greater volatility has also been witnessed in a number of crude and product arbs. Spot crude and product freight across all ...

Capesize The Capesize market experienced a mixed week, beginning strongly before losing ground as the days progressed. Monday saw the BCI 5TC rise to $13,391, driven by a pickup in Pacific activity and tightening tonnage in the North Atlantic. The Pacific market showed signs of recovery with increased miner activity and improved fixtures, narrowing the earnings gap between C3 and C5 routes. The North Atlantic was bolstered by reports of a significantly stronger fronthaul fixture lifting sentiment. However, momentum slowed midweek. Despite steady cargo inflows, fixing volumes tapered off, and ...

The two main legislative developments in the EU which will have an impact for many in the industry in the year to come are: the expansion of the EU ETS and the introduction of the FUEM. EU ETS From January 2025, the scope of the EU ETS will expand further to include offshore vessels over 5,000 GT which call at EU ports. New challenges also remain for the vessels which have been subject to the EU ETS since 2024 in the next stage of compliance with the scheme: the emissions ...

Australian coal exports to China soared during 2024, helping sustain solid freight demand. In a recent report, shipbroker Banchero Costa said that “in Jan-Dec 2024, global seaborne coal loadings increased by +2.4% yo-y to 1,371.8 mln t (excluding cabotage), based on vessel tracking data from AXS Marine. This represents a slowdown from the +5.8% y-o-y growth seen in 2023. In Jan-Dec 2024, exports from Indonesia increased by +7.7% y-o-y to 532.9 mln tonnes, whilst from Australia were up by +3.5% y-o-y to 356.1 mln t. From Russia exports declined by ...