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- Shipping Economic Trends & Regions
The container market boom continues driven primarily by Asia, but a cooling of prices on the way
The first six months of 2024, saw the container market boom continue in Asia: Hong Kong and Vietnam witnessed the largest month-on-month spike in average container prices in June. The outlook for H2 indicates a cooling of container rates, with potential challenges from geopolitical tensions, port strike threats in the US and market disruptions. The US shipping container trading market has significantly slowed, primarily due to sharp price increases. Container sellers in the US have held onto stock, anticipating higher prices, while container buyers in US have adopted a cautious stance, awaiting potential price drops. This cautious market behavior has […]
Global ports situation update – June 2024
The first six months of 2024, saw the container market boom continue in Asia: Hong Kong and Vietnam witnessed the largest month-on-month spike in average container prices in June. The outlook for H2 indicates a cooling of container rates, with potential challenges from geopolitical tensions, port strike threats in the US and market disruptions. The US shipping container trading market has significantly slowed, primarily due to sharp price increases. Container sellers in the US have held onto stock, anticipating higher prices, while container buyers in US have adopted a cautious stance, awaiting potential price drops. This cautious market behavior has […]
Biogas as a source of biofuels for shipping
The first six months of 2024, saw the container market boom continue in Asia: Hong Kong and Vietnam witnessed the largest month-on-month spike in average container prices in June. The outlook for H2 indicates a cooling of container rates, with potential challenges from geopolitical tensions, port strike threats in the US and market disruptions. The US shipping container trading market has significantly slowed, primarily due to sharp price increases. Container sellers in the US have held onto stock, anticipating higher prices, while container buyers in US have adopted a cautious stance, awaiting potential price drops. This cautious market behavior has […]
Crew welfare: the future of maritime safety report
The report examines Inmarsat GMDSS distress calls received during 2023, providing insights into how the maritime industry is managing the challenges of the post- pandemic world and geopolitical tensions, as well as highlights the key trends and strategic approaches to maritime safety. Tankers (159), bulk carriers (105) and other dry cargo (77) sent the most […]
Seafarer’s health & wellbeing research: Shipping industry needs to improve to prevent injury and suicide
A new report examining key trends within crew-related insurance claims identifies concerns with an increase in injuries as well as a “worryingly high number” of the percentage of deaths caused by suicide among seafarers. While there is a positive trend in illness-related claims (excluding COVID) the report warns that the industry must do better on […]
Global trade resumes growth in first quarter of 2024
The growth in global trade was fueled by positive trade dynamics for the United States and developing countries, and in sectors related to green energy and artificial intelligence. The outlook for 2024 remains positive, but geopolitical issues and industrial policies will continue reshaping global trade patterns. The report expects the increase to add approximately $250 billion to trade in goods, and $100 billion to services trade, in the first half of 2024 compared to the second half of 2023. The short-term trade outlook is cautiously optimistic as the global forecasts for GDP growth remain at around 3% for 2024. The […]
Container volumes will grow 5.0-6.0% in 2024
The growth in global trade was fueled by positive trade dynamics for the United States and developing countries, and in sectors related to green energy and artificial intelligence. The outlook for 2024 remains positive, but geopolitical issues and industrial policies will continue reshaping global trade patterns. The report expects the increase to add approximately $250 billion to trade in goods, and $100 billion to services trade, in the first half of 2024 compared to the second half of 2023. The short-term trade outlook is cautiously optimistic as the global forecasts for GDP growth remain at around 3% for 2024. The […]
Vulnerabilities of the Northern Sea Route’s maritime transportation system
The growth in global trade was fueled by positive trade dynamics for the United States and developing countries, and in sectors related to green energy and artificial intelligence. The outlook for 2024 remains positive, but geopolitical issues and industrial policies will continue reshaping global trade patterns. The report expects the increase to add approximately $250 billion to trade in goods, and $100 billion to services trade, in the first half of 2024 compared to the second half of 2023. The short-term trade outlook is cautiously optimistic as the global forecasts for GDP growth remain at around 3% for 2024. The […]
Developments in global international trade and industrial production April 2024
The growth in global trade was fueled by positive trade dynamics for the United States and developing countries, and in sectors related to green energy and artificial intelligence. The outlook for 2024 remains positive, but geopolitical issues and industrial policies will continue reshaping global trade patterns. The report expects the increase to add approximately $250 billion to trade in goods, and $100 billion to services trade, in the first half of 2024 compared to the second half of 2023. The short-term trade outlook is cautiously optimistic as the global forecasts for GDP growth remain at around 3% for 2024. The […]
Imports of containerized goods at U.S. ports are booming – especially West Coast ports
The growth in global trade was fueled by positive trade dynamics for the United States and developing countries, and in sectors related to green energy and artificial intelligence. The outlook for 2024 remains positive, but geopolitical issues and industrial policies will continue reshaping global trade patterns. The report expects the increase to add approximately $250 billion to trade in goods, and $100 billion to services trade, in the first half of 2024 compared to the second half of 2023. The short-term trade outlook is cautiously optimistic as the global forecasts for GDP growth remain at around 3% for 2024. The […]
The impact of maritime decarbonisation on seafarer wellbeing
At an institutional level, there is widespread acknowledgement that seafarers are central to meeting the maritime sector’s decarbonisation obligations. However, there is concern that, in practice, seafarers’ wellbeing is often overlooked amidst the urgent pressure to decarbonise.
Scaling Up Hydrogen: The case for low-carbon methanol
Low-carbon methanol could become the most important source of demand for clean hydrogen in the near term. Not only is it a large chemical market that needs decarbonizing, but low-carbon methanol is also the most readily available option for the shipping sector to reduce its emissions. Regulations in the European Union and the net-zero goal of the International Maritime Organization are pushing the shipping sector to procure green fuels. Source: BNEF & Climate Technology Coalition
