Container markets are ending the year with congestion and Covid-19 still in focus, but it is too soon to judge if a fundamental shift is taking place – read more in TradeWinds.
Decarbonisation programmes set by the International Maritime Organization (IMO), shipping’s regulatory body, will be one of the most difficult tasks for the industry in the coming years. This starts with the implementation of the EEXI, and CII criteria, all of which aim to reduce carbon intensity and will impact prices of the existing fleet. The first phase begins in January 2023. Read more in Splash Extra
Danish giant fights off competition to snare neo-panamax containership in ‘one-off’ deal. Read more in TradeWinds
Shipping rates from China to the US have “finally slumped” with spot rates halved on some routes due to power cuts and Covid-19 outbreaks in China, according to an industry report. Read more in The Institute of Export Trade News
China’s Golden Week holiday this month saw container spot rates from Asia to the US ease back, while short-term rates to Europe ticked up a few percentage points. Read more in G Captain
Supply chain woes and port congestion are now getting attention at the central-bank level, given their effects on inflation. Federal Reserve Chairman Jerome Powell recently lamented, “It is frustrating to see the bottlenecks and supply chain problems not getting better. In fact … [they are] apparently getting worse.” Read more in Freight Waves
Maritime Strategies International (MSI) cautioned, “Signs are mounting that suggest underlying consumption of raw materials in China is under threat.” Read more in American Shipper
Read more in Hellenic Shipping News
Complying with IMO’s short-term greenhouse gas (GHG) reduction strategy will not be easy, but non-mandatory measures will prove more challenging, write MSI’s David Jordan and Will Fray. Read more in Riviera
As decarbonisation efforts, global regulation, along with the Poseidon Principles gather momentum after what has been a volatile year, even by the shipping industry’s standards, MSI thought it pertinent to publish some analysis looking at what we might achieve in the near-term.