containerships

Clean Arctic Alliance issues urgent message

    Responding to today’s publication of the Intergovernmental Panel on Climate Change (IPCC) report, Climate Change 2021: The Physical Science Basis, the Clean Arctic Alliance called on the International Maritime Organization to make immediate cuts to black carbon emissions from shipping in the Arctic, and to urgently reduce black carbon emissions globally. The Alliance groups …

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Ocean container prices have doubled in one year

  According to Drewry maritime consultancy, ocean container prices have doubled in one year to a never-seen level of US$6,500 while leasing rates have similarly entered record territory. The UK-based consultancy’s  annual container and leasing review said the price reached at the end of the second quarter was the highest since 1998. John Fossey, Drewry’s …

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Coming US infrastructure bill promises port-funding splurge

  US ports and inland waterways are on track to receive at least $11.8 billion in new federal funding over the next five years through a $1 trillion infrastructure bill Congress aims to finalize over the coming weeks, reports Mark Szakonyi, Executive Editor of The Journal of Commerce and JOC.COM. The Senate began voting on …

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FMC launches expedited inquiry into ocean carrier pricing practices

  The Federal Maritime Commission has launched an expedited inquiry into the timing and legal sufficiency of ocean carrier practices with respect to certain surcharges. Eight ocean carriers are being asked to provide the Commission’s Bureau of Enforcement (BoE) with details about congestion or related surcharges they have implemented or announced. BoE has given the …

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American shipper files lawsuit with FMC over alleged abusive pricing by container lines

  An American furniture shipper has filed a $600,000 lawsuit with the Federal Maritime Commission (FMC) against a couple of global containerlines, which it claims have repeatedly contravened terms of the US Shipping Act, according to a report by Sam Chambers in the Splash247 daily newsletter. The case will be watched carefully by other shippers, …

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Drewry’s sees soaring container rates continuing

  Drewry’s today reported that its World Composite Index (WCI) increasedby 4% or $344 to reach $9,330.28 per 40ft container – which is 368% higher than the same week in 2020.The UK-based shipping consultancy expects rates to increase further in the coming weeks. The average composite index of the WCI, assessed by Drewry for year-to-date, …

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MSC and Shell collaborate closely towards decarbonization

  MSC Mediterranean Shipping Company (MSC), the world’s second-largest container line, and Shell International Petroleum Company Limited (Shell) have agreed to work closely together to help accelerate the decarbonization of the global shipping sector. The long-term memorandum of understanding will help MSC and Shell to play enhanced roles in the energy transformation of shipping, as …

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The Port of Montreal’s Contrecœur expansion enters a new phase 

  MONTREAL – The Montreal Port Authority (MPA) is entering a new phase in achieving its Contrecœur expansion as it prepares to launch a Design-Build-Finance-Operate-Maintain (DBFOM) procurement process that will be open to national and international industry players. “Factoring in our timeline, we are proceeding with the development and implementation of the Contrecœur container terminal through …

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