Only 52% of container ships arrive in their destination port on schedule right now. It also drives up costs: ships that take the route around the Cape of Good Hope burn an additional 100 tons of fuel per day, at a cost of 1 million US dollars per ship. Freightrates for a container from Asia to Europe consequently shot up by 220% between December 2023 and January 2024. Some carriers are now charging their customers “disruption surcharges”. If that persists, the Red Sea crisis could raise annual import price inflation by close to 5 percentage points, estimates the OECD which could add […]
All 10 of the largest U.S. container ports are using some form of automation technology to process and handle cargo. At least one terminal at each port uses it to track and communicate container movements. Terminal operators consider factors like costs, profitability, priorities, and labor agreements when deciding whether to automate.
At the Port of Long Beach, February inbound loads (329,850) were up 29.4% from a year earlier, while outbound loads (87,474) declined by 21.1%. Year-over-year jumps were even more stupendous next door at the Port of Los Angeles, where inbound loads in February (408,764) were up 63.9% over a year earlier. Outbound loads (132,755) were meanwhile up 61.1% y/y. Total container traffic YTD (1,637,086) was up 34.9% over the first two months of last year.
As global CO2 markets develop, the size of CO2 tankers is expected to increase, and many believe that due to geographical distribution of emitters, CO2 shipping should play a role. Furthermore, CO2 shipping is expected to be more important in Europe than in the United States and China, where announced CCS projects rely more on onshore pipeline infrastructure and onshore storage. An educated estimate for the number of vessels required by 2030 is in the range 10-20 vessels. However, should every project come to fruition in the short term, which is unlikely, the total number of vessels could exceed 50. […]
Sustainable shipping fuels can reach cost parity with fossil fuels by 2035 with decisive policy, says new report. The report reveals that the EU Emissions Trading Scheme (ETS) and FuelEU Maritime Initiative (FEUM) will see the cost of using fossil fuels more than double by 2030. By 2035, they will close the price gap between fossil fuels and sustainable fuels for the very first time. Source: Wartsila
This report analyses the impacts that Houthi attacks are having on commercial shipping in Europe.
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