As we approach 2025, several key developments are shaping maritime policy globally: 1. International Maritime Organization's (IMO) World Maritime Day Theme The IMO has announced "Our Ocean - Our Obligation - Our Opportunity" as the theme for World Maritime Day on September 25, 2025. This theme underscores the ocean's vital role in... (more)

In a landmark event, the Suez Canal recently accommodated its largest-ever transit: the towing of the colossal floating dock Dourado from Singapore to Turkey. This unprecedented operation underscores the canal's enhanced capacity and strategic significance in global maritime logistics. Unprecedented Dimensions and Challenges The Dourado floating dock, weighing 91,000 tons, spans 295... (more)

Green Era Shipping, a prominent Turkish maritime company, has secured a significant deal with Fujian Lixin Ship Engineering for the construction of 12 bulk carriers. This strategic order comprises six vessels with a capacity of 4,300 deadweight tonnage (dwt) and another six with 5,300 dwt. The move aligns with Green... (more)

The maritime industry is poised for significant policy shifts aimed at stimulating growth and attracting investment. Governments worldwide are introducing incentives to bolster their maritime sectors. Key Developments: Pakistan's New Maritime Policy: Pakistan is set to unveil a new maritime policy offering tax exemptions and other incentives to foreign investors. Minister for... (more)

The European Union has expanded its sanctions against Iran due to Tehran's support of Russia in the Ukraine conflict. The new sanctions list includes the Islamic Republic of Iran Shipping Lines (IRISL) and its director Mohammad Reza Khiabani. The sanctions target vessels and ports used for transporting Iranian-made UAVs, missiles,... (more)

Global trade tensions have significantly impacted shipping routes and logistics, leading to shifts in traditional trade patterns and operational strategies. These tensions, often arising from geopolitical conflicts, trade disputes, and economic sanctions, have compelled the maritime industry to adapt to a rapidly changing environment. Rerouting of Shipping Lanes Geopolitical conflicts have disrupted... (more)

The maritime industry is increasingly focusing on the development of green ports and the implementation of sustainable operations to minimize environmental impact and promote economic efficiency. Green ports are designed to reduce ecological footprints through various initiatives, including the adoption of renewable energy sources, electrification of equipment, and the implementation... (more)

German container shipping company Hapag-Lloyd has reported a 47% decrease in net profit for the first nine months of 2024, totaling €1.7 billion, down from €3.2 billion during the same period in 2023. Despite this decline, the company has upheld its full-year earnings forecast, citing increased transport volumes driven by... (more)

The global maritime industry is experiencing significant disruptions as geopolitical tensions compel the rerouting of traditional shipping lanes, leading to increased costs and operational challenges. Red Sea Crisis and Suez Canal Avoidance In late 2023, Yemen's Houthi rebels intensified attacks on commercial vessels in the Red Sea, targeting ships linked to Israel.... (more)

Chinese President Xi Jinping has unveiled plans to establish a new maritime-land corridor between China and Latin America, commencing with the Chancay Port in Peru. This initiative aims to enhance trade and infrastructure connectivity between the two regions. Chancay Port: A Strategic Hub The Chancay Port, located approximately 80 kilometers north of... (more)

In recent years, the global maritime industry has witnessed heightened competition over port infrastructure, driven by strategic investments and geopolitical interests. Nations and corporations are vying to enhance their port facilities to secure a competitive edge in international trade. Strategic Investments and Geopolitical Dynamics China has been at the forefront of this... (more)

Each year, the maritime industry faces the loss of thousands of shipping containers at sea, leading to significant environmental and economic consequences. These incidents result from severe weather, improper stacking, and structural failures, posing risks to marine ecosystems and global trade. Scope of the Issue The World Shipping Council reports that, on... (more)

The maritime shipping industry is undergoing a transformative shift as it adopts decarbonization initiatives to meet global sustainability goals. With the International Maritime Organization (IMO) targeting a 40% reduction in carbon intensity by 2030 and full decarbonization by 2050, shipowners and operators are accelerating efforts to minimize greenhouse gas (GHG)... (more)

German container shipping company Hapag-Lloyd has reported a 47% decrease in net profit for the first nine months of 2024, totaling €1.7 billion, down from €3.2 billion during the same period in 2023. Despite this decline, the company has upheld its full-year earnings forecast, citing increased transport volumes driven by... (more)

The Jones Act, formally known as the Merchant Marine Act of 1920, has been a cornerstone of U.S. maritime policy for over a century. By requiring goods transported between U.S. ports to be carried on ships that are American-built, -owned, and -crewed, the Jones Act aims to protect the domestic... (more)

The maritime industry is increasingly adopting advanced ballast water treatment systems (BWTS) to reduce environmental impact and comply with strict international regulations. These greener systems are vital for preventing the spread of invasive aquatic species, which disrupt ecosystems when ships discharge untreated ballast water into foreign environments. The push for green... (more)

Labor negotiations between the International Longshoremen's Association (ILA) and the United States Maritime Alliance (USMX) have resumed, focusing on the contentious issue of port automation. The current contract, extended until January 15, 2025, faces a critical deadline, with both parties striving to reach an agreement to prevent potential disruptions in... (more)

In a notable effort to push the maritime industry toward sustainability, Amazon, IKEA, and approximately 30 other leading corporations are calling for cargo transport on vessels powered by near-zero emission e-fuels. This initiative, spearheaded by the Zero Emissions Maritime Buyers Alliance (ZEMBA), aims to set a new standard for clean... (more)

French shipping giant CMA CGM has reported a significant increase in third-quarter profits, driven by robust global demand and a rise in shipping volumes. The company's net earnings soared to $2.73 billion, up from $388 million in the same period the previous year, marking a substantial improvement in financial performance. Key... (more)

The maritime industry is embracing cutting-edge ship design innovations to meet growing demands for efficiency, sustainability, and safety. As shipowners seek ways to reduce operational costs and adhere to stricter environmental regulations, advancements in hull design, propulsion, and onboard systems are transforming the shipping landscape. Key Innovations in Ship Design 1. Fuel-Efficient... (more)

As global trade volumes continue to rise, the demand for modernized port infrastructure has become critical for accommodating larger vessels and ensuring efficient cargo handling. Ports worldwide are investing in advanced technologies and automation to meet the demands of a growing industry while also addressing environmental concerns. Key Aspects of Port... (more)

In a strategic move to modernize and expand its fleet, Hapag-Lloyd has placed an order for 24 new container ships from two prominent Chinese shipyards. This significant investment, valued at approximately $4 billion, underscores the company's commitment to enhancing operational efficiency and environmental sustainability. Details of the Order: Shipyards Involved: The order... (more)

Danish shipping giant Maersk has announced a landmark $2 billion investment in Pakistan's maritime infrastructure, signaling a strong commitment to boosting the country’s role in regional trade. This substantial investment will not only modernize Pakistan’s ports but also enhance its strategic importance along major trade routes. The deal focuses on expanding... (more)

The global shipping industry is undergoing significant changes due to the implementation of new environmental regulations aimed at reducing greenhouse gas (GHG) emissions and minimizing environmental impact. These measures are reshaping operational practices and influencing the industry's future trajectory. Key Developments: International Maritime Organization (IMO) Initiatives: In July 2023, the IMO adopted... (more)

The global shipping industry is undergoing significant changes due to the implementation of new environmental regulations aimed at reducing greenhouse gas (GHG) emissions and minimizing environmental impact. These measures are reshaping operational practices and influencing the industry's future trajectory. Key Developments: International Maritime Organization (IMO) Initiatives: In July 2023, the IMO adopted... (more)

The global shipping industry is undergoing significant changes due to the implementation of new environmental regulations aimed at reducing greenhouse gas (GHG) emissions and minimizing environmental impact. These measures are reshaping operational practices and influencing the industry's future trajectory. Key Developments: International Maritime Organization (IMO) Initiatives: In July 2023, the IMO adopted... (more)

Geopolitical tensions significantly influence global maritime trade routes, affecting the efficiency and security of international shipping. Recent conflicts and strategic maneuvers have led to disruptions, increased costs, and the rerouting of vessels, highlighting the vulnerability of critical maritime chokepoints. Key Areas Affected: Red Sea and Suez Canal: The Red Sea has become... (more)

Each year, thousands of shipping containers are lost at sea, leading to significant environmental and economic consequences. These incidents result in pollution, hazards to marine life, and substantial financial losses. Extent of the Issue The World Shipping Council (WSC) reports that, on average, approximately 1,480 containers are lost at sea annually over... (more)

The Jones Act, a century-old piece of U.S. legislation, mandates that goods transported between U.S. ports be carried on ships that are American-built, -owned, and -crewed. While originally designed to support the domestic maritime industry and ensure national security, the Act’s role has been hotly debated as global competition intensifies... (more)

The strategic significance of port infrastructure has escalated in recent years, with major global players vying for control over key maritime gateways. This competition is reshaping international trade dynamics and influencing geopolitical relationships. Key Developments: China's Expanding Influence: China has significantly increased its investments in port infrastructure worldwide, particularly through its Belt... (more)

The maritime industry is increasingly integrating digital technologies to enhance operational efficiency and connectivity. However, this digital transformation has introduced significant cybersecurity challenges, necessitating robust measures to protect critical maritime infrastructure. Key Developments in Maritime Cybersecurity: Implementation of Comprehensive Cybersecurity Frameworks: Organizations are adopting structured frameworks, such as the National Institute of... (more)

The maritime industry is exploring zero-carbon ammonia as a potential alternative fuel to reduce its carbon footprint, which accounts for nearly 3% of global emissions. While ammonia offers the advantage of being carbon-free when produced from renewable hydrogen, its adoption faces significant cost and safety challenges. Safety Concerns Ammonia is highly toxic... (more)

The maritime industry is experiencing a wave of modernization as ports worldwide invest in advanced infrastructure and automation to boost efficiency, capacity, and sustainability. These developments are reshaping global supply chains, setting new standards for port operations, and enhancing resilience in an increasingly interconnected world. Key Developments in Port Infrastructure and... (more)

The maritime industry is exploring zero-carbon ammonia as a potential alternative fuel to reduce its carbon footprint, which accounts for nearly 3% of global emissions. While ammonia offers the advantage of being carbon-free when produced from renewable hydrogen, its adoption faces significant cost and safety challenges. Safety Concerns Ammonia is highly toxic... (more)

The global shipping industry is preparing to navigate a complex landscape of new environmental regulations aimed at reducing greenhouse gas emissions and improving sustainability. As international organizations and governments implement stricter policies, shipowners and operators are under increasing pressure to adopt cleaner technologies and adjust operational practices. Key Regulatory Changes 1. IMO’s... (more)

As climate change accelerates Arctic ice melt, previously inaccessible shipping lanes are opening in the region, creating new opportunities—and risks—for the maritime industry. The Northern Sea Route and the Northwest Passage, both historically impassable for much of the year, are becoming viable options during longer ice-free seasons, potentially reducing transit... (more)

Increasing geopolitical tensions are exerting significant pressure on global maritime trade routes, compelling shipping companies to rethink logistics, security, and costs. With trade routes through the South China Sea, the Middle East, and other strategic chokepoints facing disruptions, the maritime industry is navigating an increasingly complex landscape. Key Areas Affected by... (more)

In a strategic move to advance its decarbonization efforts, A.P. Moller-Maersk has entered into a long-term agreement with China's LONGi Green Energy Technology for the supply of bio-methanol, commencing in 2026. This partnership aims to significantly reduce greenhouse gas emissions from Maersk's expanding fleet of dual-fuel methanol-powered vessels. Key Highlights of... (more)

In a strategic move to advance its decarbonization efforts, A.P. Moller-Maersk has entered into a long-term agreement with China's LONGi Green Energy Technology for the supply of bio-methanol, commencing in 2026. This partnership aims to significantly reduce greenhouse gas emissions from Maersk's expanding fleet of dual-fuel methanol-powered vessels. Key Highlights of... (more)

Zero-carbon ammonia, touted as a promising marine fuel to help the shipping industry cut emissions, is facing notable cost and safety challenges. With the shipping sector responsible for around 3% of global greenhouse gas emissions, ammonia could be a game-changer—especially if produced from renewable hydrogen. However, the practical deployment of... (more)

With the expiration of contracts affecting dockworkers at key U.S. ports, the outcome of ongoing labor negotiations may hinge on the results of the upcoming presidential election. Unionized dockworkers and port operators are set to resume negotiations mid-November, with issues ranging from wage increases to automation, potentially influenced by the... (more)

A.P. Moller-Maersk, the Danish shipping conglomerate, reported substantial financial growth in the third quarter of 2024, buoyed by increased freight rates caused by persistent disruptions in the Red Sea. The company’s net profit climbed to $3.05 billion, a sharp increase from $521 million in the same quarter the previous year.... (more)

The Maritime Workers Union of Nigeria (MWUN) and the Senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASCGOC) have issued a joint ultimatum to the federal government, threatening to shut down all ports across the nation if the agreed minimum wage of ₦200,000 is not implemented. This action could... (more)

In an effort to address rising risks in maritime shipping, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has introduced a comprehensive Compliance Communiqué for the maritime industry. This new guidance, designed to combat sanctions evasion and other regulatory issues, encourages maritime stakeholders—including vessel operators, shipyards,... (more)

In the third quarter of 2024, A.P. Moller-Maersk reported a notable uptick in demand, largely driven by booming exports from China and Southeast Asia. This surge helped Maersk maintain robust earnings despite a complex global shipping environment marked by rising fuel costs, geopolitical tensions, and shifting trade patterns. Maersk’s performance... (more)

The maritime industry is seeing a record surge in orders for alternative-fueled vessels, driven by increasing regulatory demands and shipping companies’ commitment to reducing emissions. According to recent reports, nearly 25% of the global fleet could be powered by alternative fuels by 2030. LNG and methanol are leading the charge,... (more)

TotalEnergies, in partnership with Reach Subsea, has launched an innovative pilot program to test autonomous vessels for offshore operations. This initiative aims to enhance operational efficiency, cut costs, and minimize environmental impact. Autonomous vessels, designed to carry out subsea inspections, maintenance, and repairs, could transform offshore operations by reducing the... (more)

As climate awareness intensifies globally, the maritime shipping industry faces rising demands for transparency in emissions data. Environmental groups, investors, and regulatory bodies are calling on shipping companies to openly report their vessels' carbon footprints as part of broader environmental, social, and governance (ESG) expectations. With the International Maritime Organization... (more)

United Marine Egypt (UME) Shipping has announced plans to become the first commercial customer for REGENT’s Monarch seaglider, an all-electric, high-speed, wing-in-ground-effect (WIG) vehicle. Designed for short-haul coastal routes, the Monarch seaglider combines the speed of air travel with the efficiency of sea transport, offering zero-emission solutions for regional shipping.... (more)

In a significant step toward decarbonization, Maersk has signed a long-term bio-methanol supply deal with China’s renewable energy giant, LONGi Green Energy. This agreement will ensure a steady supply of bio-methanol to fuel Maersk’s new fleet of dual-fuel container ships, designed to operate on bio-methanol as part of the company’s... (more)

The U.S. Coast Guard (USCG) is set to implement new cybersecurity standards across the maritime industry, in response to rising threats targeting vessels, ports, and critical infrastructure. These regulations aim to bolster the cybersecurity framework within the sector, encompassing vessel operators, port authorities, shipyards, and equipment providers. With cyber incidents... (more)

As the global shipping industry accelerates its shift toward alternative fuels, biofuels like bio-LNG and biodiesel are gaining traction for their environmental benefits. However, while biofuels help lower emissions and meet regulatory demands, experts caution shipowners to carefully examine fuel composition. Differences in biofuel quality can lead to engine performance... (more)

After a four-year hiatus, Norway’s Kleven Shipyard has reopened its doors, marking a significant milestone in European shipbuilding. Known for its advanced designs and specialized vessel builds, the shipyard has resumed operations under Green Yard Kleven. This return is expected to support the growing demand for eco-friendly ships, particularly in... (more)

The container shipping industry is bracing for a challenging year, with an influx of new ship deliveries set to create significant overcapacity. As these new vessels join global fleets, analysts predict that shipping lines will struggle to balance supply and demand, affecting freight rates and profitability across the industry. This... (more)

The iconic Philly Shipyard is experiencing a revitalization, thanks to a major investment boost from its new owner, Hanwha, a South Korean conglomerate. Hanwha's commitment to revamping the shipyard promises significant modernization, positioning Philly Shipyard as a key player in U.S. shipbuilding. These investments are expected to expand production capacity... (more)

European shipyards are feeling the effects of a serious labor shortage, which has slowed the production of new vessels, especially high-demand LNG carriers and container ships. This shortage comes as shipbuilders strive to meet increased orders for environmentally compliant vessels amid new emission regulations. The labor deficit—spanning from skilled welders... (more)

The maritime industry is witnessing an unprecedented surge in orders for alternative-fueled vessels, as shipowners pivot towards sustainable energy to meet new regulatory standards and emission goals. LNG, methanol, and hybrid-powered ships now make up a substantial portion of the global order book, with industry leaders investing in dual-fuel capabilities.... (more)

The maritime industry is on the cusp of a technological revolution, with autonomous vessels rapidly moving from concept to reality. Leading shipping companies and maritime tech firms are investing heavily in autonomous ship technology, which promises to enhance safety, reduce operational costs, and increase efficiency. From trials of fully unmanned... (more)

The maritime industry is facing an escalating threat from cyberattacks, as digital transformation exposes vulnerabilities in vessel systems, port operations, and global shipping networks. With ships becoming more reliant on automated systems and interconnected networks, hackers are finding new ways to exploit weaknesses, causing significant operational and financial damage to... (more)

In a bold move to accelerate maritime decarbonization, the International Maritime Organization (IMO) has adopted stricter emission reduction targets, aiming to reach net-zero greenhouse gas (GHG) emissions by 2050. These updated regulations are part of a broader revision of the IMO’s Initial GHG Strategy, aligning with global climate goals under... (more)

Ports across the European Union are experiencing significant operational disruptions due to a surge in strikes by dockworkers and related labor unions. Key maritime hubs such as Rotterdam, Hamburg, and Antwerp are facing delays as dockworkers demand better pay and working conditions. The ongoing labor unrest is causing a backlog... (more)

Maersk has made a bold move in its ongoing decarbonization strategy, placing an order for 12 LNG dual-fuel container ships. These new vessels, each with a 16,000 TEU capacity, are designed to operate on both Liquefied Natural Gas (LNG) and conventional fuels, offering flexibility as the company continues to transition... (more)

Grain de Sail, a French sail cargo company and chocolatier, has announced its most ambitious project to date—a 200 TEU sail-powered cargo ship. This new vessel will be a significant step up from their current fleet, with a 360-foot-long design that can carry 2,800 metric tons of cargo. Grain de... (more)

The Port of Shanghai, already the world's busiest container port, is on track to exceed 50 million TEUs (Twenty-foot Equivalent Units) in container throughput for the year 2024. This remarkable milestone further solidifies Shanghai’s status as a global shipping powerhouse, reflecting both the recovery of global trade and the port’s... (more)

In a move towards greener maritime technologies, the heavy-lift vessel Jumbo Jubilee has been equipped with two mechanical sails as part of a new wind-assisted propulsion system. These suction sails, also known as "ventifoils," are designed to harness wind energy, reducing the vessel’s reliance on traditional fuel and cutting down... (more)

Mitsui O.S.K. Lines (MOL) has placed an order for two additional LNG dual-fuel Very Large Crude Carriers (VLCCs), valued at approximately $300 million. This strategic move is part of MOL's broader plan to decarbonize its fleet and increase its LNG-powered vessels by 2030. The newbuilds, each with a capacity of... (more)

Shell has signed a groundbreaking $480 million deal to acquire 10 new product tankers, marking a strategic move to bolster its fleet and meet the growing demand for refined petroleum products. The newbuild vessels, which will feature modern, fuel-efficient technologies, are set to be delivered between 2025 and 2027. This... (more)

PaxOcean, a leading shipbuilding and repair company, is anticipating a significant rise in offshore vessel orders as the offshore energy sector continues to grow. The demand for vessels capable of supporting offshore projects, such as wind farms and oil rigs, is surging due to the global transition towards renewable energy... (more)

Japan's shipping industry is undergoing significant changes, driven by a blend of economic recovery, technological advancements, and increasing demand for decarbonization. As one of the world’s leading maritime nations, Japan is actively exploring ways to expand and innovate, ensuring it stays competitive in an ever-evolving global market. The industry is... (more)

Shipowners around the world are ramping up their investments in newbuild vessels as part of efforts to modernize fleets, meet stricter environmental regulations, and capitalize on favorable market conditions. Global shipbuilding orders have surged to record levels in 2024, fueled by rising demand for container ships, LNG carriers, and dual-fuel... (more)

In a major step toward decarbonizing its fleet, Maersk has placed landmark orders for several LNG dual-fuel vessels. These vessels will be capable of running on both traditional marine fuels and liquefied natural gas (LNG), allowing Maersk to reduce its carbon emissions while meeting growing demand for more sustainable shipping... (more)

Nakilat, Qatar’s leading liquefied natural gas (LNG) shipping company, has reported significant growth in its net profit for the third quarter of 2024. The company's performance continues to showcase its strong position within the global LNG shipping market, driven by stable charter contracts, operational efficiency, and a growing fleet of... (more)

Greek shipowners are ramping up their newbuilding orders as they modernize their fleets and prepare for the future of shipping. The recent uptick in orders reflects confidence in the global shipping market, particularly in sectors like bulk carriers and tankers, where Greece has long held a dominant position. These newbuilds,... (more)

The global shipping industry, already grappling with the aftermath of the COVID-19 pandemic, faces new risks that could significantly impact shipowners and fleet operators in the coming years. These risks, ranging from geopolitical tensions to overcapacity and evolving environmental regulations, present both operational and financial challenges for the industry. Geopolitical Tensions... (more)

The global push for renewable energy, particularly offshore wind, has led to a significant surge in demand for specialized vessels. As offshore wind projects expand across Europe, Asia, and North America, shipping companies are investing in newbuilds designed to meet the unique requirements of this growing industry. These vessels, often... (more)

The Port of Klaipeda, Lithuania, has made a significant step toward advancing green energy by investing $11.4 million in the Baltic region's first green hydrogen production and refueling station. This groundbreaking project positions Klaipeda as a leader in green energy innovation within the maritime sector and signals a shift towards... (more)

After a brief but disruptive strike by the International Longshoremen's Association (ILA), major container ports along the U.S. East and Gulf Coasts have resumed normal operations. The strike, which brought cargo handling to a halt, lasted for several days and raised concerns about further delays and disruptions in supply chains... (more)

A joint venture between Schoeller Holdings and Deutsche Offshore Schifffahrt has announced plans to build four special-purpose vessels (SPVs) aimed at servicing the rapidly growing offshore energy market. These vessels will be tailored to support renewable energy projects, with a particular focus on offshore wind power, a sector that is... (more)

In a troubling escalation of conflict in the Black Sea, a recent Russian missile strike has damaged two merchant ships at the Port of Odesa. This incident raises significant concerns over the safety of maritime routes in the region, which is a crucial hub for global grain shipments and other... (more)

The maritime industry is in the midst of a technological revolution, with artificial intelligence (AI) rapidly transforming how ships are managed, operated, and optimized. As global shipping companies face increasing pressures to reduce costs, improve fuel efficiency, and meet stricter environmental regulations, AI is becoming a game-changer, offering innovative solutions... (more)

The container shipping industry is experiencing a surge in vessel deliveries, with an estimated 2.83 million TEUs (twenty-foot equivalent units) of capacity expected to enter the market in 2024 alone. This represents a record-breaking influx of new vessels and reflects shipowners' growing confidence in the global shipping market. However, this... (more)

European shipowners are intensifying their efforts to ensure that at least 40% of clean shipping fuels are produced locally within Europe. This push is part of a broader maritime industrial strategy aligned with the European Union's Net-Zero Industry Act, which seeks to transition the continent toward cleaner energy sources and... (more)

ESL Shipping, a leading dry bulk operator in the Baltic region, has announced a significant investment in fossil-free vessels as part of its long-term strategy to decarbonize its fleet and support the Nordic maritime industry's green transition. The company, which specializes in transporting raw materials, is moving toward sustainable shipping... (more)

As global environmental regulations tighten, ballast water management (BWM) compliance continues to pose significant challenges for shipowners. The International Maritime Organization's (IMO) Ballast Water Management Convention (BWMC), which aims to prevent the spread of invasive aquatic species through ships' ballast water, requires all ships to have ballast water treatment systems... (more)

Greek shipowners have significantly ramped up their investments in the offshore vessel market, reflecting a strategic shift towards the growing offshore energy sector, particularly renewable energy. In 2024, Greece’s traditionally dominant shipping community has placed orders for both newbuild offshore support vessels and acquired secondhand ships to position themselves at... (more)

The liquefied natural gas (LNG) shipping market is expected to experience a softening in rates over the next few years, with projections indicating that the sector may face lower freight rates until 2026. This anticipated slowdown is largely due to an increase in LNG carrier supply and subdued demand from... (more)

AW Shipping, a joint venture between ADNOC Logistics & Services (ADNOC L&S) and Wanhua Chemical Group, has made a significant move in the decarbonization of shipping by placing a $250 million order for two Very Large Ammonia Carriers (VLACs). These vessels, to be built by China's Jiangnan Shipyard, are among... (more)

China continues to assert its dominance in the global shipbuilding industry, having secured approximately 75% of new shipbuilding orders in 2024. Chinese shipyards have completed an impressive 36.34 million deadweight tons (DWT) of shipbuilding this year, reaffirming their leadership in the sector. This surge in shipbuilding activity is driven by... (more)

Alphard Maritime Group, a major player in the global maritime industry, has announced the establishment of a $500 million shipping fund based in India. The fund, which is expected to operate out of Gujarat International Finance Tec-City (GIFT City), will be used to finance the expansion of Alphard's shipping fleet... (more)

COSCO Shipping, one of the world’s largest shipping companies, has reported a remarkable 67% increase in profits for the first nine months of 2024. This significant rise in profitability was driven by higher freight rates, robust demand for container shipping services, and operational efficiency improvements. The Chinese shipping giant has... (more)

Liquefied natural gas (LNG) is rapidly gaining traction as an alternative marine fuel, with LNG-powered vessels now making up 6% of the global fleet. This shift reflects the shipping industry’s growing commitment to decarbonization and compliance with increasingly stringent environmental regulations set by the International Maritime Organization (IMO). The adoption... (more)

Norway is making significant strides in renewable energy, positioning itself as a leader in floating offshore wind technology. Through a series of new contracts with leading energy companies, Norway is setting the stage for large-scale testing and development of innovative floating wind farms at its Marine Energy Test Centre (METCentre).... (more)

Hyundai Heavy Industries (HHI), one of the world’s leading shipbuilders, has made a significant technological breakthrough with the development of a zero-carbon ammonia dual-fuel engine. This new engine marks a major advancement in the global maritime industry's efforts to transition toward greener, more sustainable energy solutions. Designed to run on... (more)

Dutch heavy-lift shipping company Jumbo has taken a significant step toward reducing its carbon footprint by introducing wind-assisted propulsion technology on one of its heavy-lift vessels. The technology, known as Ventofoils, uses vertical, retractable, wing-like sails to harness wind power, reducing fuel consumption and emissions. This innovative move aligns with... (more)

ESL Shipping, a prominent dry bulk cargo carrier based in the Baltic region, has announced plans to build a fleet of new vessels powered entirely by fossil-free fuels. This bold move positions ESL Shipping at the forefront of the Nordic maritime sector’s green transition, as the industry intensifies its focus... (more)

As Hurricane Milton barrels toward Florida’s west-central coast, government agencies and the maritime industry are racing to secure the state’s fuel reserves. The Category 4 storm is expected to make landfall in the next few days, bringing with it record-breaking winds and heavy rainfall that threaten to disrupt vital energy... (more)

The global fleet of LNG-fueled vessels is on track to double by 2025, as the maritime industry accelerates its efforts to reduce greenhouse gas emissions. This significant growth in the adoption of liquefied natural gas (LNG) as a marine fuel is being driven by both regulatory requirements and the industry's... (more)

The 82nd session of the International Maritime Organization’s (IMO) Marine Environment Protection Committee (MEPC), held from September 30 to October 4, 2024, resulted in a number of significant decisions aimed at accelerating the global maritime industry's transition toward greener, more sustainable practices. These outcomes are part of the broader push... (more)

Piracy is once again on the rise in the Indian Ocean, largely driven by the diversion of shipping routes from the Red Sea due to escalating regional conflicts. The resurgence of piracy in this critical maritime region has alarmed shipping companies and global authorities, reviving fears of the security challenges... (more)

Russia and China have reached a new milestone in their energy partnership, setting a record for crude oil shipments through the Northern Sea Route (NSR) in 2024. The growing use of this Arctic shipping lane reflects both countries' strategy to bypass more traditional routes, particularly those that pass through geopolitically... (more)