International Maritime Organization (IMO) Archives - The Loadstar

Egypt claims Houthi attacks have cost its economy $6bn in lost Suez revenue

Charlie Bartlett technology editor — Mon, 04 Nov 2024 13:58:04 +0000

Egypt has suffered a $6bn hit from the Red Sea crisis and drop in Suez Canal transits, a minister has told the IMO – but Yemen’s Houthis have vowed to continue their attacks.
Yahya Sarea, a Houthi spokesperson claimed in a weekend televised address that Israel-linked maritime businesses were seeking to change ownership, but the group would not recognise any changes and would continue to attack vessels going to, coming from, ...

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Four new 14,000 teu box ships for Döhle add to bulging global orderbook

Alexander Whiteman — Mon, 17 Jun 2024 12:35:42 +0000

German shipowning group Peter Döhle Schiffahrts has broken a long-time holdout to order four 14,000 teu newbuilds in China, adding to a global shipping orderbook that will last past 2029.
The company has not placed a newbuild order since 2015, preferring to snap up second-hand tonnage – for example, from Capital Product Partners this year.
The new 14,000 teu vessels, each costing $150m, will be methanol-ready, but will be equipped with scrubbers.
This ...

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The Loadstar Explains: Abandoned ships – and abandoned crews

Alexander Whiteman — Fri, 26 Apr 2024 12:44:10 +0000

From time to time, it is tempting to fantasise about a world with fewer laws, no institutions, no ‘red tape’. But for the merchant seafarer, this is a daily reality. IMO treaties give guidance on how people and their employers should behave – but in the in-between world of international waters, beyond borders and flags, it is theoretical at best.
Working and sleeping on a platform blasted by wind and tossed ...

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MEPC81: vulnerable island nations see much deferred and little agreed

Alexander Whiteman — Fri, 22 Mar 2024 14:10:36 +0000

Despite vocal advocacy from vulnerable island nations, such as the Cook Islands, Marshall Islands and Fiji, bringing a personal tone to proceedings at the IMO, consensus on key issues was not forthcoming.
The outcome leaves open the question of well-to-tank greenhouse gas emissions, which stands to introduce a ‘cure worse than the disease’ by encouraging the adoption of new ‘grey’ fuels, according to Transport & Environment shipping director, Faïg Abbasov, speaking ...

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WSC steps up drive for cleaner ship fuel with ‘Green Balance Mechanism’

Alexander Whiteman — Fri, 16 Feb 2024 12:54:26 +0000

The World Shipping Council (WSC) has announced a proposal for a Green Balance Mechanism, which would levy massive taxes on conventional ship fuels and aim to close the price delta between grey and green fuels.
WSC said the cost of green fuels was currently around four times greater than conventional fossil fuels, a cost gap liable to increase, given the diminishing desirability of the latter.
Each year, the green balance fee would ...

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‘Disproportionate’ cost hikes and emissions adding to Cape route complexity

Alexander Whiteman — Wed, 10 Jan 2024 12:55:51 +0000

As well as taking longer, voyages around the Cape of Good Hope mean burning more fuel and emitting more carbon, but cargo research specialist MSI believes carriers are enjoying “disproportionate revenue increases”.
The Loadstar’s Mike Wackett has reported on the enormous recent hikes in $/feu rates – for example, Drewry’s World Container Index (WCI) on Shanghai-Rotterdam increased from $1,442/feu in mid-December, to $3,577 last week.
MSI container market analyst Daniel Richards told ...

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COP28: A global ‘fossil fuel phase out’ is watered down to ‘well, it could happen’

Alexander Whiteman — Wed, 13 Dec 2023 12:55:44 +0000

Delegates at COP28 have finally agreed that the world “could transition away” from fossil fuels.
In scenes alarmingly reminiscent of the outcome of the IMO’s MEPC80, the terminology of “a fossil fuel phase out”, and the less objectionable “phase down”, were replaced with “transitioning away”, and nations “could” take action on greenhouse gas emissions by “reducing both consumption and production of fossil fuels” by 2050.
BBC correspondent Sameer Hashmi suggested even this ...

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WSC to lobby next IMO meeting for tougher emissions regulations

Alexander Whiteman — Fri, 08 Dec 2023 13:31:46 +0000

Following calls at COP28 by MSC, Hapag-Lloyd, CMA CGM, Maersk and Wallenius Wilhelmsen last week, their membership organisation, the World Shipping Council (WSC), wants the International Maritime Organization (IMO) to enshrine their suggestions for interim measures in international law.
The move demonstrates a seemingly upended recent dynamic, wherein the shipping business petitions its regulatory body and member states for more stringent standards and regulations.
The submission applies to IMO MEPC81, the next ...

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Maersk strikes methanol deal with China’s Goldwind

Alexander Whiteman — Wed, 22 Nov 2023 13:20:23 +0000

China’s apparent antipathy to greening international shipping may be changing course, after a domestic green methanol developer, Goldwind, struck a major deal with Maersk.
Announcing the news, AP Moller-Maersk said it had reached a long-term offtake agreement for annual volumes of 500kt of the fuel for the 12 large methanol-enabled container vessels it has on order, with the first volumes expected in 2026.
Chief infrastructure officer at the Danish shipping giant, Rabab ...

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PIL the star ‘green’ performer in Far East-S America efficiency league

Alexander Whiteman — Wed, 30 Aug 2023 11:52:05 +0000

Xeneta’s latest carbon league table, for the Far East-South America tradelane, reveals improving performance on the route, thanks to slow-steaming anda better ‘filling factor’ on vessels.
Average speeds slowed to 15.6 knots in Q1 and 15.8 in Q2, making for a slower average, able to increase efficiencies, even as the average size of vessels on the trade decreased.
King of the tradelane, according to Xeneta, was Pacific International Lines (PIL), with a ...

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