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Sharp decline in container line profits
After two very profitable years for the global container shipping lines, the market has shifted dramatically downwards, according to the latest report by Sea-Intelligence. While the fourth quarter of 2022 gave a first glimpse of what was transpiring, the first quarter of 2023 was the first quarter where the carriers’ operating profits took a
WTO sees turnaround in global trade in goods
Global goods trade showed signs of a turnaround in the second quarter of 2023, driven by strong automobile production and sales, but further upward momentum in Q3 and beyond may be limited as long as export orders remain weak, according to the latest Goods Trade Barometer issued by the World Trade Organization (WTO) in
On our Forum: The mounting ‘co-habitation’ challenges of cruise ship visits
By Michael Grey* It represents one of the “least sustainable ways of going on holiday”, whimpered some “expert” of an unidentified discipline (probably either a climate scientist or a freelance consultant specialising in the promotion of mandatory misery). In case you haven’t guessed, it is, of course, cruising and the peak of the season in
STG Logistics expands its intermodal network in Canada
Illinois-based STG Logistics announced that it will expand its intermodal network by providing service into and out of the following Canadian markets: Vancouver, Calgary, Edmonton, Winnipeg, Moncton, and Halifax. These additions will complement the company’s current Canadian services in the Toronto and Montreal markets. STG Logistics will utilize its fleet of 15,000 GPS equipped
NY/NJ Port Authority board approves CMA CGM takeover of two container terminals
The board of the Port Authority of New York and New Jersey has given the green light on CMA CGM’s proposal to take over operations at two key container terminals, GCT Bayonne and GCT New York (Howland Hook). Under the updated port leases, rent is increased based on container throughput, the Marseilles-based carrier has
Corvus awarded battery supply for the world`s largest battery electric ship
Norway-based Corvus Energy, a leading provider of zero-emission solutions for the maritime industry, has announced that the company has been selected by technology group Wärtsilä to supply the battery systems for the world`s largest 100% electric lightweight Ro-Pax ferry. The battery systems are scheduled for delivery end of 2024 and the vessel will enter
Revolution Wind receives federal record of decision
Revolution Wind has announced receipt of its Record of Decision (ROD) from the U.S. Department of the Interior’s Bureau of Ocean Energy Management (BOEM), successfully reaching a major milestone in the federal environmental review process for the offshore wind project serving Rhode Island and Connecticut. With this milestone, Revolution Wind remains on track to
Port of Baltimore welcomes biggest containership to visit Maryland
The Helen Delich Bentley Port of Baltimore has welcomed the largest container ship ever to visit Maryland with the arrival of the Evergreen Ever Max at Seagirt Marine Terminal on August 19. The vessel weighed 165,350 tons and has the capacity to handle 15,432 Twenty-foot Equivalent (TEU) containers. Maryland’s Port is capable of accommodating