Shipping - Page 71

Joint effort strengthens and expands the two companies’ established relationship

On Transpacific, utilisation dropped below 90% for much of 2022, becoming a catalyst for the freight rate decline.

Port handled 709,873 TEUs in September, a 21% decrease from September 2021.

Even with 26-31% capacity reduction on Transpacific & 19-27% on Asia-Europe, rates continue to fall: Sea-Intelligence

Deliveries of new ships expected to outpace demand next year indicating a continued fall in freight rates

43% Xeneta customers anticipate disruption but no major issue even if carriers blank 50% of all scheduled sailings.

Physical shortage of capacity that drove freight rates up is no longer an issue.

Capacity management will be key to deciding how much of super-cycle gains carriers can hold on to: Drewry

"Volumes are still healthy & there are far more carriers carrying far more TEUs than ever."

With the new order, Maersk will take delivery of 19 vessels with dual-fuel engines able to operate on green methanol.

Acquires 10 terminals in six countries; presence strengthened in Latin America and terminal business.

Green methanol expected to be an alternative marine fuel to make significant contributions to reduce GHG emissions.