ocean shipping News Updates

The voyage marks another step toward normalization of global supply lines, after Yemen-based Houthis in 2023 began attacking vessels, forcing shipowners to sail south of Africa.

The voyage marks another step toward normalization of global supply lines, after Yemen-based Houthis in 2023 began attacking vessels, forcing shipowners to sail south of Africa.

Maersk has a strategy to grow in land-based logistics, which has historically had higher and more stable profit margins than container shipping.

Daily earnings to transport crude on key routes have seen the biggest jump this year, up 467%. Freight costs typically dip at year-end due to seasonal weakness in demand.

Countries at an IMO gathering in London voted to push back for a year a decision on whether to make ships start paying for the more than 1 billion tons of greenhouse gases they emit each year. 

Nations are at an International Maritime Organization meeting in London to decide on landmark regulations to make vessels start paying for their greenhouse gas emissions.

The Chinese fees, which were in a response to a similar move by Washington, have upended Asian oil trading as shippers and traders assess their exposure to charges.

The International Maritime Organization will this week decide on sweeping new rules to make the sector start paying for the more than 1 billion tons of greenhouse gases it emits each year.

China announced Oct. 10 that it would impose fees on U.S. ships in retaliation for similar measures due to be imposed by the Trump administration Oct. 14.

They would take effect on Oct. 14, the same day that the United States is due to start imposing port fees on Chinese vessels.