Posts in category: Shipping News

AP Moller – Maersk are planning on arranging a deal with China’s Debo Energy to purchase green methanol which will be used to provide a fuel supply for their 16,000 TEU, methanol-powered containerships.

Debo Energy will produce approximately 200,000 tons of green methanol per year which is expected to start sometime in the 3rd quarter of 2024. This could be the first step that sees Maersk working with Chinese partners as they see great potential in the production of green methanol and transitioning towards sustainable energy. 

Port congestion at Los Angeles and Long Beach has now been overtaken with more vessels waiting longer at New York and Houston ports as the congestion seems to have shifted eastwards according to recent reports. 

West coast ports were in the news last year for record levels of vessels waiting for a berth but studies now show that the congestion has migrated eastwards. West coast ports are still suffering from congestion but waiting times have come down since January. Last month saw Houston port and New York Port have as many vessels waiting for a berth as Los Angeles and Long Beach combined. Savannah meanwhile had approximately 42 vessels waiting for a berth which is 6 times the amount of vessels the port can accommodate, this is resulting in a 14-day wait for a berth. This worrying trend is expected to continue across more ports in the not-so-distant future putting even more strain on the US port system. 

The capacity size gap between the largest shipping lines to the smaller shipping lines is now bigger than ever before. This comes from data carried out in a recent report. 

According to the report the top 10 shipping lines carry approximately 21.8 million teu compared to 2.5m teu for the shipping lines ranked 11-20.

MSC are currently the number 1 ranked carrier with 17.4% of the market share. AP Moller – Maersk who was the leading carrier 10 years ago are now in 2nd place with a 16.6% share. The rest of the top 10 carriers are made up of CMA-CGM (12.8%), COSCO Shipping (11.2%), Hapag Lloyd (6.8%), Evergreen Line (6.1%), ONE (5.8%), HMM (3.2%), Yang Ming (2.7%) and ZIM with 2% market share.