Who holds the older units? 
In its latest report, Alphaliner pointed out that approximately 20% of containership fleet capacity, or almost 3 million teu, is 20 or more years old. This corresponds to about 1,200 container vessels which, due to their age, will not meet the IMO’s sustainability goals at this... more
South Korean shipbuilders take the lead
According to Clarksons Research, ship orders worldwide totalled 2.49 million compensated gross tonnages (cgt) in October this year. This represents a dip of 44% compared to the same month in 2022. Out of these orders, South Korea was able to secure 1.54 million cgt (62%),... more
Eco-friendly shipping fund launches
HFW, a global sector-focused law firm, has facilitated the launch of the shipping industry's first sustainable fund named Low Emission Methanol Shipping Company (Lemsco). The fund, created by maritime investment advisor Promarine, is starting with an initial portfolio of... more
Greek and Chinese shipping companies on the rise
Greek and Chinese shipping companies now own 34% of the global fleet's cargo capacity, according to Bimco's chief shipping analyst Niels Rasmussen. Greek shipowners control 19% of the cargo carrying capacity and maintain a high share in the dry bulk, tanker, and gas carrier... more
Nearshoring trend: data reveals truth
The concept of nearshoring suggests that as companies move production closer to consumer markets, average sailing distances for shipped goods would be reduced. According to Sea-Intelligence, for North America, there has been an increase in the average sailing distance for... more
Free access to Shipnext platform for ICS students
The Institute of Chartered Shipbrokers (ICS) and Shipnext, a digital SaaS platform, have partnered to enhance education in the shipping industry for its students. Shipnext provides a range of digital solutions, including instant data processing, freight-matching,... more
Record highs for ICTSI earnings
International Container Terminal Services Inc (ICTSI) has reported a 4% increase in net income to USD 484.5 million for the first nine months of 2023, with ebitda and net income reaching record highs. The company saw a 7% growth in throughput and revenues. Despite the... more
Appeal against Gateway Basel Nord approved
On 19 October 2023, Switzerland’s federal administrative court ruled in favour of an appeal by Swissterminal against the Swiss government's financial contribution with regard to the planned trimodal Gateway Basel Nord (GBN). The court ordered that the contested rulings must... more
DP World's investment in London Gateway
DP World has marked a decade at London Gateway with a GBP 56 million (USD 69 million) investment in four automated stacking cranes (ASCs), bolstering the company’s supply chain infrastructure in the UK. These cranes, supplied by Finnish manufacturer Konecranes, are part of... more
Ten new vessels for AD Ports
AD Ports Group is acquiring ten offshore vessels for approximately USD 200 million from E-NAV to reenforce its operations in the Middle East and Southeast Asia. These vessels, with an average age of nine years and younger than the industry norm, are diverse in type and are set... more