1. IMO speaks out for achieving net zero shipping goals and green transformation

The International Maritime Organization (IMO) outlined its latest progress and plans to decarbonize global shipping by 2050 or around 2050 in a document submitted to the Bonn Climate Conference, to ensure that the 2023 IMO Ship Greenhouse Gas Reduction Strategy is transformed into legally binding regulations applicable to all ships and implemented globally. During the United Nations Climate Change Conference (COP29), an IMO spokesperson shared the latest developments in the strategy and actively attended various events and bilateral meetings to speak out for the green transformation of the shipping industry.

2. Baltimore Bridge Collapse

On the early morning of March 26th, the Singaporean container ship "Dali" lost power and crashed into the Baltimore Bridge, causing 8 construction workers on the bridge to fall into the water. Among them, 2 were rescued and 6 died. After the accident, most shipping at Baltimore Port has been suspended, but some terminals outside the affected area have resumed operations. The company and operator of the "Dali" ship have agreed to pay nearly $102 million in compensation.

3. The shipping market is facing crisis challenges, which have become the "new normal"

Since the beginning of this year, the shipping market has been continuously affected by various factors such as the Red Sea crisis, Houthi armed attacks, active Somali piracy, and port congestion, resulting in instability. Several industry insiders have stated that different crises are becoming the "new normal", and companies/individuals in both the value chain and supply chain should learn from their mistakes, recognize the importance of enhancing supply chain resilience, and prepare to increase supply chain investment to cope with shocks.

4. Shipping alliance restructuring brings new changes to the market

The Gemini Alliance cooperation agreement submitted by Maersk and Hapag Lloyd has been approved, aimed at allowing the alliance to share ships in trade between the United States and Asia, the Middle East, and Europe. The collaborative plan involves approximately 290 vessels in operation, with a total capacity of approximately 3.4 million TEUs. Maersk and Hapag Lloyd account for 60% and 40% of the total capacity, respectively, with the aim of increasing the on-time schedule rate to over 90%. At the same time, Dafei Group, COSCO Shipping, EVA Shipping and Orient Overseas signed a memorandum of understanding, renewing the Ocean Alliance until 2032. The Ocean Alliance was established in the spring of 2017 and operates the world's largest international trade trunk shipping network. Relying on the strongest network in the industry, we provide customers with flexible and innovative solutions. ONE, Yangming Shipping, and HMM continue to deepen their alliance cooperation and operate joint shipping routes under the name "Premier Alliance". The cooperation will take effect from February 2025 and last for five years.

5. Accelerate global layout, MSC completes multiple acquisitions

Under the coordination of Captain Gianluigi Aponte, billionaire and founder and chairman of Mediterranean Shipping (MSC), the company has completed the acquisition of a 49.9% stake in Hamburg Port and Logistics AG (HHLA). In other business areas, the acquisition of the W ä rtsil ä factory facing closure and the acquisition of Wilson Sons, Brazil's largest integrated port and shipping logistics service provider; Subsidiary SAS acquires all shares of French freight forwarder Clasquim and Norwegian auto ship owner GCC; Medlog, a subsidiary of the company, has completed the acquisition of Maritime Group, a British logistics company. Meanwhile, MSC continues to acquire second-hand container ships to consolidate its leading position.

6. The curtain has come to an end! Danish logistics giant DSV acquires DB Schenker

Through this acquisition, Germany will become a key market for DSV. The acquisition is valued at 14.3 billion euros and is expected to receive regular regulatory approval in the second quarter of 2025. DSV is expected to provide funding for the transaction through a combination of equity and debt financing of approximately 4-5 billion euros. Until the transaction is completed, DSV and DB Schenker will continue to operate independently.

7. Vertical expansion of logistics business: Dafei Group completes its largest acquisition

CMA CGM has acquired 100% equity of Bollor é Logistics for 4.85 billion euros. The new entity formed by the merger of CEVA and Bollor é Logistics will become one of the top five logistics companies in the world. In recent years, the group has been expanding its logistics business vertically through acquisitions, including CEVA Logistics, Ingram Micro's CLS business in the United States, GEFCO and Bollor é Logistics specializing in automotive logistics in Europe, investing in leading French logistics company Colis Priv é, and acquiring a 48% stake in Brazilian port giant Santos Brasil.

8. Panama Canal resumes navigation

As the rainy season brings, the water level of the canal rises, and the Panama Canal Authority (ACP) gradually increases the number of ships allowed to pass and draft restrictions. Starting from August 5th, one new booking period will be added, and the daily number of ships passing through will increase to 35; Starting from September, the number of transit ships has increased to 36, which means that the Panama Canal has resumed normal operations and is beneficial for the economic and world trade development of the Panama region.

9. Trump elected as US president, global shipping market welcomes another 'storm'

Since announcing Trump's re-election as the President of the United States, he has expressed his views on multiple shipping incidents. Specifically, he claimed that the Panama Canal is an "important national asset of the United States" and threatened to regain control of the Panama Canal. At the same time, he supports the International Longshore Association's (ILA) demand to "oppose port automation in the United States" and calls for "large-scale purchases of American oil and gas by the European Union", otherwise tariffs will be imposed.

10. The world's first! Singapore Port will provide digital refueling services

Dr., Senior Minister of State for Transport of Singapore Amy Khor stated that starting from April 1, 2025, all fuel suppliers in Singapore ports must provide digital refueling services and issue electronic fuel deliveries

Article source: Compilation compiled by Weiyun Network