The accumulation of disruption and supply chain shocks are transforming global trade as governments and businesses look to exchange efficiency for security
Evolving marine transport model seeks tankers to operate outside established markets, yet remain compliant with class, insurance and other regulatory and technical rules
Anonymous Chinese shipowner spends $376m on tankers for Russian STS hub | More vessels carrying grains depart Ukraine | Talks to avert Felixstowe port strike break down
The global focus on environmental, social and governance (ESG) principles has led to the worldwide expansion of sustainability-focused investments
SEA-LNG study claims $30.3m retrofit cost to use liquefied natural gas as marine fuel is ‘win-win’ for environment
Chief executive Aristides Pittas says rates remain profitable despite a near 40% plunge since late May
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The deal to allow the safe transport of grain out of the Ukraine by sea is an unprecedented agreement between enemy combatants, but it is still a work in progress and the list of potential risks that could yet scupper it are long. This week we talk to war risk expert and head of marine and aviation at the Lloyd’s Market Association Neil Roberts about the insurance hurdles yet to be overcome. And we talk to Anna Biliuga, an agent for Eurogal Services, which acts as Lloyd’s agents inside Odesa, for a personal take on how the grain deal will play out on the dockside
Half-Year Outlook 2022
The war in Ukraine, China lockdowns, supply-chain disruptions, and the risk of so-called ‘stagflation’ mean recession for many countries will be hard to avoid. The consequences are not yet playing out in the shipping sectors reviewed in this outlook report, but even in containers where rates remain high and cash is still flowing, executives are already planning for the post-pandemic party hangover.
Click here to view the full report
As part of our Future of Shipping programme industry leaders and sector experts map the path to a sustainable and profitable future.
‘The shipping industry itself has set itself a pretty mealy-mouthed target of 5% by 2030. I think that 15% is a respectable target. By 2030 we shouldn’t have any engines which are not dual-fuel capable so that by 2040, we’ve got a shipping industry which can go carbon neutral.’
‘We are at an inflection point. First mover activities are going to inform and inspire the rest of the industry. They need to be enabled and supported, meaning that individual governments need to engage in this process and make sure that we have regulation in place that supports it in the interim until we get global regulation in place.’
‘We need to get closer to our customers and co-operate on making this industry more efficient. Because there’s so much waste. The moment you put a value on carbon and decreasing the carbon footprint, I think that people have a tendency to be more friendly, open to discuss and see how they can co-operate together.’
‘There are some tough decisions to be made, but I think the reality is the old business models that we had are not going to survive this and I think that a lot of companies will have to figure out how they actually deal with this. So, I really want to see that happening between us and our clients and I believe that that will mean a dramatic change of the contractual relationship that exists between the two of us.’
The Shipping Podcast
The skills landscape is changing. Traditional ways of bringing seafarers into the office, while good in keeping in touch with the sea, will not meet the needs of a digitally-enabled, purpose-driven business
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