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Shipping Fragmentation, Importance Deprioritise Decarbonisation

Global shipping’s fragmentation and the public’s less intense scrutiny of its emissions, along with its heavy debt burden and low margins, mean decarbonisation is a secondary issue for the industry, Fitch Ratings says. The sector’s environmental regulation is less mature than other transportation sub-segments, with a looser set of targets, while an existential threat to …

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Traders deploy costlier smaller tankers to move displaced Russian oil to China

Traders are deploying smaller, costlier vessels to ship displaced Russian oil from European ports to China, in a rare move as Western sanctions on Moscow force them to use unconventional methods to transport the product. About 5 million barrels of Russian Urals crude was scheduled to load in April and May destined for China on …

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Premium demand remains weak for US imports amid China lockdowns

All-inclusive container rates into North America were largely unchanged during the week ended April 29 amid slow booking activity and more easily accessible FAK rate space. This comes as lockdowns in and around Shanghai persisted through their fourth week, and containerized exports from the globe’s largest production hub continued to be muted. “Space is open …

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